Archive for October 3, 2007

Laurin Jeffrey | October 3, 2007
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Staging Sells Houses

Staging Tip – Staging An Empty House

Carol & Randy Heimpel, Home Steps

We have had many individual clients and realtors over the past few years who have found themselves in the dilemma of trying to sell an empty house. One very important fact to remember is that an empty space is not the answer to making a house appear larger. Very often it can do just the opposite. It is the careful and tasteful placement of the right furniture pieces that works to effectively define a space, determine functionality and give a home personality. Leaving it up to the imagination of the potential buyer to determine what items are required within a given area can often prove be totally counter-productive.

The good news is that it is not always necessary to furnish and accessorize an entire house. A general rule of thumb is to tackle the major areas of activity (perhaps the main floor of a two storey home)or an irregular space that presents a definite challenge in determining its purpose. You’ll get far better mileage out of renting traditional pieces in neutral shades which can then be colourfully accessorized rather than selecting “way-out” pieces that detract attention from the features of the space. Co-ordinating drapery swags can warm the window areas at a fraction of the cost of a full set of blinds or draperies. A few carefully placed lamps and art pieces will complete the picture nicely without overwhelming.

Renting furniture can be an expensive proposition for the vendor if they are not careful and do not work closely with an experienced stager. An approximate cost of $600-$750 for each of the living room, dining room and family room spaces is a good estimate, with kitchens and bedrooms coming in at considerably less. It is at this time when we may encourage the vendor to perhaps purchase an item of furniture which may be of interest rather than having to return a rental piece for which he / she may have further need in the future.

As an FYI, the cost of furniture rentals and accessories for a three bedroom house can range from approximately $3000-$5000 depending on the size of the house and the items selected. It is much better to make the decision to commit to this financial investment before putting the house on the market rather than after the fact. By setting the stage for greater potential interest in the property in the beginning, this could eliminate the possibility of having to lower the asking price $20,000 to $30,000 later on, due to lack of activity.

Furnishing empty houses is essential because staging sells houses.

Take the time to look at our new web site at http://www.homesteps.ca/

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Contact the Jeffrey Team for more information – 416-388-1960

Category: Staging | Tags: , ,
Laurin Jeffrey | October 3, 2007
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Home maintenance – preserving your purchase

New homes built today reflect the highest construction standards and incorporate the latest building materials. All the components of new condominiums or houses are new, from the chimneys and furnaces down to the tiniest nails, so homeowners don’t usually have to worry about repairs or replacements for years to come.

You will, however, have to do some minor maintenance chores once in a while, just to keep everything looking as wonderful as it did on the day you moved in. Here are helpful tips recommended by the Canada Mortgage and Housing Corporation.

Some of the materials used in the construction of your new home contain high moisture levels, especially the concrete and framing lumber, and will spend a year or so “drying out.” As a result, you’ll see more condensation than normal on windows and walls, meaning you should run your ventilation and circulation fans quite often whenever your windows are closed. And don’t forget to check on the ventilation system itself now and then to ensure its efficient operation. The grills and filters will need regular cleaning.

As your new home settles and moisture evaporates, the interior wood trim will shrink a little and you may notice some joints at the corners of windows, doors and baseboards opening slightly. Plastic wood or putty are simple remedies. You might also need drywall compound to repair minor cracks which may appear on walls and ceilings as the wood behind the drywall shrinks as well. Many builders will repair cracks, open joints or nail pops that occur during the first year of ownership, but they will not repaint. It’s a good idea, therefore, to put off decorating plans for 12 months or so.

New carpeting should last for over 10 years, but it’s important to keep it clean. Mop up spills immediately and be sure to vacuum weekly. It’s also a good idea to steam clean once a year to remove deep-down dirt and oily residues.

Some of the exterior components of your home will be exposed to a lot of wear and tear from the summer sun and bitter winter weather. Doors, window frames, decks and wood trim will need to be repainted or stained every few years to remain clean and to be protected from moisture damage.

Exterior caulking is also susceptible to deterioration so be sure to check it annually and recaulk if necessary.

With regular maintenance the roof on your new home should last for many years; up to 20 for asphalt shingles and up to forty for wood shakes. After a heavy storm, however, it’s a good idea to check for loose, broken or missing shingles (it’s easiest to do this from the ground with a pair of binoculars). Have any damaged areas repaired right away so that potential leaks don’t have a chance to cause serious damage to other parts of the house.

Water damage can also be avoided with a twice-yearly cleaning of eavestroughs and downspouts. Removing obstructions such as leaves and twigs every spring and autumn will prevent rainwater from seeping down the walls of the house. The water should flow freely through the gutters and be directed a sufficient distance away from the building.

The Canada Mortgage and Housing Corporation publishes helpful booklets on buying a home and a variety of other housing issues.

New Homes & Condos Magazine is an excellent source of housing information for those looking for information on new homes in Ontario, Canada. We offer the most up-to-date information on new communities across the Greater Toronto Area.

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Contact the Jeffrey Team for more information – 416-388-1960

Category: New Homes, Renovation and Maintenance | Tags: , ,
Laurin Jeffrey | October 3, 2007
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Credit and debt management

Calum Ross, New Homes and Condos

As the credit system continues to evolve in Canada, consumers are getting increasingly confused with a greater variety of credit products from a greater variety of financial institutions. In fact, the average Canadian gets more correspondence from financial institutions than they do from family and friends combined (what have we come to?). To complicate matters, institutions are granting credit to consumers at a pace never seen before.

The combination of increasingly sophisticated marketing techniques to consumers coupled with more and more available credit truly becomes too much temptation for many people to bear. Consumer debt is a major crisis in North America. The concept of keeping up with the Jones has destroyed both people’s financial health and their personal lives. What I am here to tell you is that you don’t need to fall into this trap!

I am going to show you some simple guidelines that will prevent you from becoming yet another consumer credit victim.

1) Control spending by knowing exactly where every dollar spent goes. Tracking your spending habits in detail periodically will enlighten you in ways that you never considered. While doing this on a monthly basis is not realistic, try to do this in detail for at least one month a year. Helpful tip: if you and your spouse spend $3 per day on coffee, this totals $1,095 per year. Depending on your tax bracket, this amount could represent over $2,000 in pre-tax income – is the coffee at your office that bad?

2) Watch your liquidity closely. Liquidity refers to your or your family’s ability to pay its short-term debt obligations. Watching what available funds you have to pay upcoming debt obligations is fundamental to avoiding credit problems. Helpful tip: think carefully before using purchase programs that require no payments for a set period. If you can’t afford to pay for it now, should you really buy it?

3) Plan, plan, plan – live and die by a budget. Develop a realistic budget and live by it always. A good budget must have specific financial goals with a clearly defined time horizon. Be sure to take into account all of your payments including loans, utilities, dry cleaning, etc. If you pay for it monthly, it should be allocated in your budget. You can’t be too detailed. Most financially successful people are excellent financial planners. They have investment plans, loan repayment plans and a clear idea of how much time they need before they can purchase big-ticket consumer items. Helpful tip: also be sure to budget for some kind of treat on a periodic basis. Budgets without a treat allowance often result in failure.

While these rules seem fairly simple, they are a little like a diet – easy to start but tough to follow through. Despite popular opinion, material items will not bring you happiness.

While it may not seem like it today, forgoing that purchase to save for your child’s education (or your retirement) may make you feel a lot better in the long run (despite what the commercials may lead you to believe).

Until next time – happy home and mortgage hunting.

Calum Ross is Vice-President and Practicing Mortgage Consultant with The Mortgage Centre. He has appeared on Canada AM, Investment Television, Report on Business Television and Citytv. He is the holder of both a B.Comm and an MBA in Finance. He can be reached at 416-410-9905.

New Homes & Condos Magazine is an excellent source of housing information for those looking for information on new homes in Ontario, Canada. We offer the most up-to-date information on new communities across the Greater Toronto Area.

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Contact the Jeffrey Team for more information – 416-388-1960

Category: Mortgages | Tags: , , , , ,
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