Buying a home in the Winter

It's December now and with winter coming on and Christmas fast approaching, many people give up on searching for their home now until spring time.

DON'T! You will be selling yourself short, and might miss out on a great opportunity. I'll give you a few great reasons why:

NO COMPETITION - Many buyers were thinking like yourself and decided to duck out. Unlike in the spring, you have less of a chance of getting into a multiple offer situation which in turn saves you money!

SELLER's MOTIVATED - Sellers begin to feel the market slowing down a bit. They see less people coming through their home and begin to get discouraged and think that they might not be able to sell their property. Could lead you to a lower price.

BANKS GET DESPERATE - One of the best times of the year to be purchasing a property being sold under power of sale or a foreclosed property, is in December. The banks fiscal year end is JAN 1st and they HATE to see properties sit in their inventory. They also know that the market is a bit slower in the winter months and will take any reasonable offer seriously.

EFFICIENCY OF HOME - Ottawa is the coldest captital city in the world. Keeping the heat in your home, and money in your pocket is very important. Imagine this, There was just a huge dump of snow and all the homes on the street have snow covered roofs. Except the one that you are looking at? Odds are the insulation up there isn't to great, and you have a heat loss problem. Also, the windows are full of condensation inside the glass? Seals are done and the windows should be probably be replaced. Floors are just freezing in the bedroom above the garage, or somewhere else in the home. There are many more problems one can notice in the winter months and this being Ottawa, its a good idea to know what to look for.

Please feel free to contact me if you or anyone you know is thinking of buying or selling. I'll make sure that we get you a great deal on the property that you are buying, and you will be confident knowing you are not getting screwed buying something that is not worth the money you are paying.

Sincerely,

Andrew Miller
Sales Representative
Keller Williams Ottawa Realty Ltd.
Brokerage, Independently Owned and Operated
610 Bronson Avenue
Ottawa, Ontario K1S 4E6
Office: (613) 236-5959
Direct: (613) 447-7669
Fax: (613) 235-1515
Email: amiller@kwottawa.ca

Tax Free Savings Accounts

In order to help make your dreams become a Reality, it's not only important that I assist you in finding an exceptional home, or sell your home for top dollar amount; sometimes much can be gained by knowing a bit more about what to do to prepare you for the next step. Here's some great advice on how Tax Free Savings Accounts can help you accomplish some of your goals, and get you that much closer to making your dreams become a Reality.

Even though the Tax Free Savings Account (TFSA) is a “no-brainer” tax-shelter, not every Canadian yet has one. In fact, a shocking 13% don’t know what it is and 37% still don’t understand how they work, according to a survey from ING Direct.

The Tax-Free Savings Account (TFSA) provides Canadian investors with an exciting opportunity to earn tax-free income and to more easily meet lifetime savings needs.

Facts on a Tax-Free Savings Account (TFSA) :

- Tax-free investment income earned in a TFSA
- Tax-free withdrawals from a TFSA
- Can contribute up to $5,000.00 annually to a TFSA if you are a Canadian resident age 18 or older
- Unused TFSA contribution room is carried forward and accumulates in future years
- Can deposit back any amount of withdrawals into the TFSA in future years. However, any over-contribution amount will be subject to a penalty tax.
- Contributions are not tax-deductible
- Examples of investment options: Mutual funds, Guaranteed Investment Certificates (GICs) and Bonds
- TFSA assets can generally be transferred to a spouse or common-law partner upon death
- Can invest in your TFSA with funds given from your spouse or common-law partner


There are a variety of ways the TFSA can be used. You might use yours to supplement your retirement savings, save for a down payment, renovate your home — even take a family vacation. In all cases, your savings will benefit from tax-free growth.

This information has been supplied by one of my many exceptional mortgage specialists Susanna Penning at Oriana Financial 613-371-8076.

How about saving some money this winter?

If you've been reading my blogs at all over the years, you know the one thing that I harp on is the efficency of your home. Right about now most of you are starting to pull out your Canada Goose jackets, the ugly Christmas sweaters, and that old warm quilt your grandma made for you. How about prepping your home for the winter as well. In my last blog I gave you a good overview of winterizing your home. Now its time to take it a little bit further and spend a few dollars to save a bundle more.

Give your furnace some lovin! Many people don't realize that a furnace should be maintained once a year. A furnace is like a car, the better maintained it is, the longer it will last you and the more efficient it will run. Enbridge has some great service plans, look into it. Also, it may be time to change that filter again. I try to change mine 4 times a year at the change of every season. Dirty filters will make your furnace run a little harder. Don't forget to clean your duct work as well. There are a ton of deals these days for duct cleaning through dealfind, groupon, koopon etc.

Programmable Thermostat. $50-$200. and it will save you about 15% a month on your bill. Here's the catch though people, you HAVE to use it! In about 70% of the homes I see, the programmable thermostat is never running on a program. Take the time, read the manual if you have to(guys I know we won't read it) and set the programming features to turn down the heat when you don't need it cranked up.

Heat only the rooms that you use. The guest room that you never use, the extra bathroom, storage areas etc. All of these rooms that aren't really used that often should have the vents closed or if electric heat, turn the baseboards off. If you have a fireplace and spend most your time in there in the evenings, turn the furnace off or down for those hours, and let the fireplace heat for you.

Check for Drafts!!! Windows and doors are the devil. The majority of heat loss in a home will come from the doors and windows. In a previous blog I talked about wrapping your windows properly and I will repost that sometime soon as well. In short, ensure all weather stripping is intact and if older windows, consider upgrading the windows, and/or check for upgrading insulation around windows.

Energy Audit? I'm sure you have heard of them already and probably had someone you know have an energy audit performed. If know some people that do them and if you need a reference please let me know. Have an energy audit done on your home, and upgrade where you can. The government probably has some great rebates that you aren't aware of and you can retreive some of the money spent. Local, provincial, and federal governments frequently offer tax breaks or rebates for energy-saving upgrades, as do many utility companies.

Take the time, make the changes. Not only are you doing your part to help the environment, but you will finish off the winter with more money in your pocket. Win win.