Stunning 4 Bedroom Bungalow in Fantastic Neighborhood.

Here it is! The one that you have been waiting for. This 2008 Monarch built Colorado model is fully finished and ready to go! Perfect potential to add an in-law suite with only a electrical to add for a stove. Don't waste your time and money buying the same model for the same price minus all the upgrades and come and grab this finished home on a corner lot now before its too late.

Home Features:
- Double Garage
- Garage Door Opener
- Large Corner Lot
- Built 2008
- Natural Gas Furnace
- Central Air
- Storage Shed

Main Floor:
- Spacious Entry Way
- Office/Den/4th Bedroom
- Dark Hardwood Flooring
- Ceramic Tiles
- Full Bathroom
- Large Kitchen
- Dining Area
- Living Space with Fireplace
- VERY LARGE Master Quarters with Large Walk-in Closet and Ensuite with Soaker Tub and Separate Shower.



Lower Level:
- Family Room with Plus Carpeting For Added Comfort
- 2 Additional Bedrooms
- Large 3 Piece Bathroom with Luxury Shower with massager Jets
- Large Recroom with Sink and Counter Tops, Perfect to Convert to an In-law Suite.
- Storage Room
- Utility Room



This home is a MUST SEE! This price just cannot be beat. Call now for a private showing.

The Importance of Having a Buyers Representative on Your Side.

Today's world is much different than even 10 years ago. With the boom of the internet, it seems that the "do it yourself" maintality has spread into all sorts of aspects in ones life. Looking to do some work on your home these days its quite easy to find advice on how to do just about anything from installing a light fixture to putting in hardwood floors. Most of the time these "DIY" jobs do nothing more than create more business for the real professionals out there. Everyone wants to save a buck, but most of the time it costs you more than you think. I'm sure you trust professionals to do most things for you though right? You probably don't cut your own hair, you go to a barber. If you break your arm, you most likely go to a doctor. So why is it that when it comes to purchasing a home, the biggest purchase of your life, you decide you want to tackle that yourself? Especially when it generally costs you nothing out of your pocket to have a Realtor assisting you when buying a home.

Before 1995 Realtors listed homes and thats it. They would handle both sides of the transaction and took care of the buyer and seller. Does that make sense? Would you have a lawyer take care of both the defendant and the plaintiff? Absolutely not. So when a home is listed and a buyer goes in with no one looking out for the buyer, do you think the listing agent is interested in getting the buyer the best deal, or getting the best price for his seller? EXACTLY!

I recently saw a home that had sold for more than 25k then any other home in the neighborhood? At first I was shocked. That is until I noticed that the buyer was acting alone in the purchase and didn't have a Realtor working with them. I mean why bother right? You can look online yourself, see the pics of a home all by yourself right?

Realtors are trained professionals. We know the market and can help advise you on whether you are paying too much for a property or getting a good deal. Sure your lawyer can draw up the paperwork, but I recently had a discussion where it came about that lawyers may now begin to have buyers sign waivers stating that they are aware the lawyer is in no way a Real Estate professional and have not and will not show comparables for the property they are buying. You don't get a lawyer to do your home inspection do you? Your doctor doesn't change the oil on your car right? So why not trust the biggest purchase of your life with a professional in the field.

Feel free to give me a shout if you would like more information on the matter. I'm here to help from beginning to end, from your first home to your dreamhome.



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) 236-1515
Email: amiller@kwottawa.ca

Old Homes Don't Mean Bad Homes.

I got news for everyone out there. New or old there is unfortunately no such thing as a perfect home. All homes are different and all have their own quirks about them that make them unique and one must know what those are before they become costly problems.

The benefits of living in an older home are plenty! The history, the style, the craftsmanship, the way that 3rd stair always squeeks. But owning such a home has its challenges. Maintenance can be tricky and expensive, especially if certain areas have been neglected. Here are some common issues found in older homes.

Energy inefficiency is the one of the key main issue with older homes. Most older homes were built with single-pane windows; maybe those are ok in a tropical climate, but whoever thought that they were sufficient for the temperature changes that we see here in Ottawa, were sadly mistaken.

Insulation in older homes was little to none in some cases and lack of insulation will also result in wasted energy and money. The most important and easiest area of the home to insulate is the attic, but walls and floors above ventilated crawlspaces should be insulated as well if possible. The attic may already have insulation but it may be inadequate by current standards. Not to mention, the type and materials used in older insulation should be carefully looked at and inspected.

If your home has older water pipes, have them checked to identify the material and determine if they need to be replaced. Some older materials such as galvanized steel, iron, and even lead are subject to deterioration and are still in use today even though new construction does not allow them. Replacement options include copper and PVC piping.

Electrical systems can still cause some issues and older types be found a lot homes and may not only be dangerous, but they can make the house uninsurable. Homes in the Glebe and downtown areas where they were constructed prior to 1940 may still have knob and tube wiring. Other homes built prior to the 80's may have aluminum wiring which heats up much quicker than copper and can become brittle over time. Even if no danger is present, we use so much more electricity in our homes now that the capacity of your older system may be inadequate. Only a qualified electrician should attempt any repairs or updates to your home's electrical system.

Foundations can be a tricky subject. Most older homes used stone foundations. During the 50's,60's and 70's, came around block foundations. Both of those types can have issues and your home should be looked at thoroughly to ensure that all is intact with them. Today homes mostly used poured concrete. Not to say that there aren't problems with those as well, but they are generally more durable. You should have someone that can identify any issues before the issues become problems. I have been on well over a hundred home inspections, and I can spot most problems before we waste our money calling in home inspectors to notice the same issues.

All in all, there is no such thing as a perfect home unfortunately. All homes have their problems and the key is to know what your home needs to make it as perfect as it can be.

Market Outlook for 2012 is looking good!

I just finished up at a 2012 Mortgage Outlook with CMHC today. There were a lot of great things said. Mainly that Ottawa's housing market is in great shape to be living right now and for the future! I know there was recent press about that and may have you believing otherwise, but here are a few notes that I took in from todays meeting that could change your mind.

- Ottawa is currently in a strong balanced market, and prices expected to RISE with rate of inflation.
A 2.7% increase in home prices over the year is projected.

- Ottawa is definitely more stable as compared to other markets in Canada. So don't believe everything you see on TV

- Average employment by the government in 2002-08 was approx 95k, while average in 2008-12 was just shy of 120k.

- The government cuts that we are hearing of now represent approximately 1.5% job loss. That isn't as large of an
impact as most are thinking or hearing about.

- Other job sectors are still growing.

- Ottawa is at the top of the employment rate at 84.9%(ages 25-45) second only to Kitchener.

- Ottawa has grown approx. 47% in terms of income over the last 11 years and Ottawa has the highest weekly salaries anywhere in canada at just over $1000.

- Mortgage rates are still historically low, there is no better time to be buying! I've heard a recent deal was 3.89% for 10 year fixed!!! That's insane.

- Average of approx. 6000 immigrants per year are coming to Ottawa. 50% are economic immigrants meaning that they have degrees and support job growth. This combined with other factors translate to approx 5800 new houses a year required here in Ottawa.

- New homes are sitting at about 24% higher pricing then resale homes.

I think all this information I gathered says it all. The Ottawa housing market is fantastic. Rates are lower than most of us will see in our lifetimes. Prices aren't going down like some people may be telling you. There's not many times like this to be buying and selling homes.

Your Dreamhome is Awaiting Your Final Touches

Amazing opportunity to have your custom home built in an outstanding neighbourhood, on a gorgeous deep lot.

Plans approved for a a beautiful 2200sqft 2storey home that comes with Tarion Warranty. Jump on this now and choose all your own finishings inside and out! Hardwood flooring of your choice, ceramic tiles, slate, marble, you name it. This is your dream home, it doesn't get any better than this folks! Possibility of larger home built and designs can potentially be changed to accomodate.

Call now for more details.

Lot also available for sale on its own MLS#824331($364,900). Sale is subject to final severance, Room sizes, and taxes to follow.

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
www.dreamhomeottawa.blogspot.ca

Great opportunity to build in sought after Central Ottawa

Developers, Investors and those looking to build your dream home! This Large lot sits nestled among a variety of goregous homes in highly sought after Carleton Heights. Lots of mature trees, just a great opportunity for someone looking to get into this neighbourhood and build a home that suits their needs. Approved plans for a 2200 Sq.Ft. home avail, larger home is possible. Imagine a long private driveway leading back to your own private oasis.

This lot is in the final stages of severance and the sale is subject to severance. Sewer and water connections completed, park fees of $11000 paid. Contact listing agent for more details. Don't sit and think too long on this one, the phone has been ringing off the hook already.

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) 236-1515
www.dreamhomeottawa.blogspot.ca

Stunning 1 Bedroom Condo Steps From It All

Luxurious 1 bedroom unit in highly sought after Sussex Square. Spend your summer nights entertaining & bbq'ing on the gorgeous rooftop terrace. This is the one you have been waiting for. Located steps from everything the Byward Market has to offer, the unit features high ceilings, hardwood flooring, granite counter tops, stainless steel appliances, stylish washroom,in unit washer/dryer, large balcony, underground parking, and spacious open living space.

BUILDING FEATURES:
- Steps away from all the restaurants and cafe's of the Byward Market
- Beautiful blend of brick and renaissance masonary
- Charming Courtyard with Water Fountain
- Exercise Room
- Rooftop terrace with breathtaking views of the Parliament Buildings, Ottawa River and the Gatineau Hills
- Elegant Lounge with phone entry system
- 3 High Speed Elevators
- Storage and Bike Lockers
- Indoor Parking

UNIT FEATURES:
- 9 foot ceilings
- Open concept layout
- Ceramic tiling
- Hardwood flooring
- In unit laundry
- Upgraded bathroom
- Large bedroom with ample closet space
- Stainless steel appliances
- Granite countertops
- Balcony
- Central A/C

With all this building and unit have to offer, it is sure to not last for long. Call or email now to get your own private showing.

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) 236-1515
Email: amiller@kwottawa.ca
www.dreamhomeottawa.blogspot.ca

Mortgage Updates

Well last week the government announced yet again that they are going to be making some changes this coming March 18th. A lot of my clients have been asking what these changes are and how they will be affected. In short here's what we are looking at:

1. the maximum amortization is now 30 years on insured products having less than 20% down. For conventional mortgages 35 year amortization should continue to be available.

2. when refinancing your home, the limit has been lowered to 85% of the appraised value.(where it was 90%)

3. The government will no longer insurance lines of credit secured by homes (this rule will take affect on April 18th)

4. for purchases, people can continue to buy with as little as 5% down (self-employed individuals require 10% down)


Well that's it for today folks. Stay warm out there!

Canadian Housing Market showing some Groth

Canadian home sales gained for the first time in five months in August, led by Ontario and British Columbia, though economists warned the uptick is likely to prove a blip in a declining trend.
Sales of existing homes through the Multiple Listing System rose 4.1% from July, figures released Wednesday by the Canadian Real Estate Association showed. It was the first increase since March, it said. On a year-over-year basis, sales are down 22.5%.
Canada’s housing market, which helped drag the economy out of recession, has been cooling rapidly over the past few months. Consumers made purchases that would have been made in summer earlier in the year to beat rising interest rates and the introduction of the harmonized sales tax in Ontario and B.C.
“A large part of the August increase comes from Ontario and B.C. because there was a lot of confusion in July as to how the HST would affect home sales,” CREA chief economist Gregory Klump said. “This is a bit of a relief rally and one car does not make a parade.”
Klump still expects housing sales to cool throughout the rest of the year, though he says it’s a healthy slowdown from the feverish levels seen at the end of last year.
TD Bank Financial said in a note the August figures are likely to have been a blip.
The bank said high household debt, the weakening employment outlook and declining personal income would all weigh on the market. It expects sales to drop by 20% next year and prices to decline 7%.
The average price of homes sold in August was $324,928, which is on a par with the same period last year. Excluding Alberta and New Brunswick, where prices eased, gains in every other province exceeded the national increase, CREA said.
Seasonally adjusted sales activity was either flat or increased in half of all markets across the country, it said.
The Organization for Economic Co-operation and Development in a report on Canada earlier this week warned prices may still be too high and more intervention may be needed to cool the market.
CREA president Georges Pahud on Wednesday rebuffed those suggestions, saying any further tightening in mortgage regulations risk damaging the market.
“Rising interest rates and a projected slowdown in job growth mean that the Canadian housing market is expected to continue to cool,” Pahud said. “This is overlooked in recent commentary that suggests further changes to mortgage regulations may be needed.”

-Ottawa Sun Sept 15, 2010

HOTTEST APRIL EVER!!!

Members of the Ottawa Real Estate Board sold 1,841 residential properties in April through the Board's Multiple Listing Service® system compared with 1,591 in April 2009, an increase of 15.7 per cent. Of those sales, 425 were in the condominium property class, while 1,416 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties. "Last month's sales blew away the record for April, which is always one of the busiest months of the year for our market," said Board President Pierre de Varennes. "The increased sales activity may be partially due to buyers trying to avoid the impending HST and the mortgage changes that came into effect on April 19, but also demonstrates that consumers feel confident about our local economy," he added.

The average sale price of residential properties, including condominiums, sold in April in the Ottawa area was $332,979, an increase of 11.6 per cent over April 2009. The average sale price for a condominium-class property was $254,220, an increase of 17.4 per cent over April 2009. The average sale price of a residential-class property was $356,617, an increase of 11.7 per cent over April 2009.

The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.

"information provided by the Ottawa Real Estate Board."

Picking your Neighbourhood

Choosing your neighborhood

For many people, choosing a neighborhood is the most difficult part of the decision to buy a home. This is true even if already own a home and are trying to decide where to live next.
When you tackle the “location, location, location” question, it’s smart to prioritize various neighborhood features, then start looking for homes in areas that match most of your criteria. Here are some things to consider:

Transportation
Check the length of your commute to work from your neighborhoods of choice. Do streets get clogged at rush hour? Is mass transit within walking distance? In a consumer study, 79 percent of respondents said that a top priority in deciding where to live is having a commute time under 45 minutes. Seventy-five percent also wanted easy access to highways.

What’s close by
Research nearby schools, restaurants, places of worship and parks. Seventy-two percent of survey respondents ranked sidewalks and places to walk as a top priority when considering where to live.

Costs
In addition to the costs of mortgage, insurance and home maintenance, consider local property taxes and homeowner association fees, if applicable. If homes in your preferred neighborhoods are out of your price range, consider condominiums.

Future
Try to imagine what the neighborhood will look like in 10 years. Will you still want to live there, or do you expect to move before then? Will it be desirable to future buyers?
Before committing to the neighborhood, visit it at different times of day and night and talk to as many local residents as possible.

Once you’ve prioritized all your neighborhood amenities and features, you’ll find it’s much easier to focus your home search. Remember, the neighborhood is usually as important to the value of a home as what’s under its roof.

Insulation

Everyone knows that home insulation provides tremendous energy savings, but most homeowners have questions about it. How do you know if you need more insulation? What can you do to improve it—without tearing your home apart?

The first thing to know is that for homes built before the 1970s, insulation was not a high priority in construction. These homes may benefit from adding insulation as well as filling the window and door gaps that naturally occur as the house settles over time. The good news is it’s easy to improve your home’s energy efficiency, no matter what its age.

Start at the TopOne of the first places to insulate is the attic. You can add loose-fill or batt insulation easily and cost-effectively. Just remember that if you think you may have vermiculite insulation, don’t disturb it—it may contain asbestos, so call a professional.

Fill the Spaces in the Walls

For your walls, you can choose to blow loose insulation directly into the wall. It’s fast and you’ll only have to patch the wall afterwards, rather than replace the entire surface. On the other hand, if you’re remodeling, you may have open walls and an opportunity to choose from many insulation options including blankets, rolls, rigid insulation and others.

Go Beyond the Walls

Many homeowners see savings from insulating electrical outlets, crawlspaces and doors. A rule of thumb is: a 1/8" space between a standard exterior door and the threshold is equivalent to a two square inch hole in the wall. Realigning your doors and replacing the door sweep are easy fixes.

Consider Replacing Windows

Weather-stripping your windows can reduce energy loss. However, up to 50% of a home’s heating and cooling needs results from heat gain and loss through windows, so actually replacing your old windows may provide the most savings.

Insulation Adds Up to Big Savings

When you insulate, not only do you start saving money on your energy bills, the government also provides financial benefits to homeowners who make their home more energy efficient. Be sure to save your receipts.

Improvements like adding insulation can often add to the resale value: potential buyers will want to know all about them. And even if you’re not quite ready to move yet, you can still enjoy a cost savings and a comfortable home.

Summer coming to an end, but the market is HOT!

Well the summer may be almost over, but the housing market here in Ottawa is hotter than ever. Homes that are priced properly are selling as though it were spring time. I myself sold my last listing in only 3 days for 99% of the asking price!

If you are thinking of buying or selling now is the time to do it. My advice to friends has been to get it done before the winter hits. The mortgage rates are still at all time lows but won't last for long.

Don't waste time waiting for the best deal in town, there is just too much competition out there right now. Let me find a place that has all of your NEEDS covered, and we can work on the WANTS after that. No house is perfect for everyone, and it is important to distiguish that fact.

If you are thinking about buying, or you know of someone who is, please don't miss the boat on these low mortgage rates, contact me as soon as you can. Alternatively, if you or someone you know is looking to sell your home, with all these buyers out there, it is a no brainer that a well priced home, that is marketed properly and shows well, will sell quickly.

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

Pricing Strategy

According to a recent report, about 75% of homebuyers surf the Web to begin their home search. That means home buyers are well aware of what properties are available on the market and the prices they are selling for. Therefore, now more than ever, pricing is the key to selling your home.

Some sellers think that a higher price will give them some negotiating room. But in fact many buyers don't even look at a property that is overpriced, much less make an offer on it.

This can lead to the property’s becoming “shop-worn.” Buyers often inquire about the length of time a property has been on the market. If it has been on the market a long time, they wonder if there is something wrong with it. The sellers then have to drop the price, taking less than they might have if they had priced it correctly to begin with.

Homes that are well-priced attract the buyers in their price range. The buyer's perception is that the home is a good buy, and then the seller is positioned to receive the listing price or close to it.

Please feel free to call or email me if you have any questions. I would be happy to provide you with a market evaluation on your home to make sure it is competitively priced in the marketplace so you will receive the best offer.

Weather may be poor but the housing market is HOT!

Last October was the beginning of some tough times for most canadians, as well as most other parts of the world. This has been the first recession of the new millenium. Although most of the nation's housing market was strongly affected by the recession, here in the nations capital, things remained fairly stable. Luckily for us prices didn't see a huge decline and now that signs of the improving economy are in our sights, the market is heating up quite a bit.

We have low interest rates, the lowest they have been in years in fact. The government has decided to freeze the prime rate at 2.25% until the second quarter of 2010(June). This is great news if you were deciding to make a purchase in the next year.

The time to buy is now, while the rates are still at an all time low, and before the housing prices begin to rise again.

If you or anyone you know are thinking of buying or selling, please don't hesitate to contact me immediately to get started. I am your one stop shop for real estate needs and I have all of the contacts you will need in your home purchase, lawyers, inspectors, contractors, mortgage specialists, and movers. You name it, I got it. I look forward to helping you find your dream home soon.

Your Downpayment for your purchase

Most lenders require you to pay a portion of your own funds--the down payment--toward the purchase of a home. Saving for a down payment can be one of the most challenging steps in buying a home.

Your down payment plus your pre-approved loan amount will determine how much home you can afford. A down payment can come from many places: savings, investments such as stocks and bonds, gifts from relatives, company bonuses, equity in other assets, and life insurance policies, to name a few. Then again, there may be home mortgage alternatives that do not require a down payment.

If you currently own a home, then you may want the equity you have built in that house to serve as the down payment on your next home. But how much is your current home worth? I would be happy to provide you with a market valuation so that you will know its current value.
With some basic information about your home, I can establish a list of comparable properties in your area as reported by the Multiple Listing Service (MLS). If you would like a more precise and thorough market evaluation, I can stop by for a quick view of your home.

Please call or email me if you are interested in a free market evaluation of your home or if you have any questions.

Canadian Housing Market Bouncing Back

Amid the month-to-month torrent of real estate statistics, economists pegged particular significance on new numbers because they reveal widespread strength at strong prices and showed mounting momentum over a three-month span, carried by what had been the weakest region – the West.

It's a radically stark contrast with the United States, where prices – after three long years – are still falling, down a third from their bubble peak.

In Canada, buyers are back, sales are surging, and prices are edging up. “People thought the world was coming to an end,” said Mr. Stewart, a top-selling agent at his Century 21 office near
False Creek in downtown Vancouver. “Now, the fiscal stimulus and ultralow interest rates have supercharged real estate.”

Almost 150,000 sales of existing houses and condominiums were tallied in the April-May-June period, according to Canadian Real Estate Association data published Tuesday. It was the fourth-best quarter ever since CREA began recording the sales data in 1994, the industry marketing group said.

In frigid January, by comparison, barely 16,000 houses were sold. The “Phoenix-like rise” of real estate sales is the “most astonishing economic development of 2009,” economists at
BMO Nesbitt Burns declared. And even though there are asterisks – the job market remains weak – Canada appears to have skirted “the clutches of a lengthy, painful downturn.”

Nationally, for the April-June period, sales were up 1.4 per cent from a year ago. It was the first quarter that markeda year-over-year advance since late 2007, and the period strengthened as the spring warmed. In June, sales were up 22.8 per cent nationally – and prices climbed 4 per cent. In Toronto, the sales jump was 27.4 per cent, with prices up 2 per cent.

In fact, the average price of a home in Canada has never been higher. At $318,700, the figure is slightly higher than the record set a year ago, pushed up by the flurry of sales in expensive big-city markets.

Pre-approvals

Many buyers call their lender seeking information about financing. In the process, they become pre-qualified. That gives them a good idea of what they can afford, or more accurately, what loan amount they qualify for.

You should take it one step further, however, and ask to be pre-approved. When you become pre-approved, you actually apply for a loan. The lender checks credit, verifies employment, and often verifies that you have sufficient funds to close. Then once you find your dream home, just about the only thing left is the appraisal.

The reason savvy buyers obtain loan approval before shopping for a home is that it strengthens their negotiating position when they make an offer. All sellers want to sell their home to a pre-approved buyer.

Pre-approval can also cut days, even weeks, off the closing process.Pre-approval can really help you to determine your price range, which helps you narrow your choices of homes to buy. You will already know how much you can afford before you even start looking.

Call or email me if you would like the name of a lender to pre-approve you for a loan, or if you have any questions about preapproval. I am happy to help.

Renovation Tax Credit a Hit

A new poll suggests more than one in three Canadians plan to take advantage of the federal government's home-renovation tax credit.
More than eight in 10 questioned in the Harris-Decima/Canadian Press survey said they were aware of the program, under which eligible applicants can receive a tax rebate of as much as $1,350 if they invest up to $10,000 in renovations on their home.

1. What is the Home Renovation Tax Credit (HRTC)?
The proposed HRTC is a non-refundable tax credit for work performed or goods acquired in respect of an eligible dwelling.
2. What is meant by eligible dwelling?
An eligible dwelling is a housing unit that is eligible to be an individual's principal residence or that of one or more of their family members, at any time between January 27, 2009 and February 1, 2010.
3. What is the eligibility period?
The credit will be based on eligible expenditures for work performed or goods acquired after January 27, 2009, and before February 1, 2010. Expenditures incurred pursuant to an agreement that was entered into before January 28, 2009, will not be eligible for the credit.
4. Who will be eligible for the credit?
Eligibility for the HRTC will be family based. A family will generally be considered to consist of an individual or an individual and his or her spouse or common-law partner, including children who will be under 18 years of age, at the end of 2009. A family will be allowed a single credit that may be shared within the family.
5. How will the credit be calculated?
The credit will only be available for the 2009 tax year and applies to eligible expenditures of more than $1,000, but not more than $10,000, resulting in a maximum credit of $1,350 ($9,000 x 15%).
6. What are eligible expenditures?
To be eligible, expenditures incurred in relation to a renovation or alteration to an eligible dwelling (or the land that forms part of the eligible dwelling) must be of an enduring nature and integral to the dwelling, and includes the cost of labour and professional services, building materials, fixtures, rentals, and permits.
Eligible expenditures must be supported by acceptable documentation.
For more information please visit https://mail.kwottawa.ca/exchweb/bin/redir.asp?URL=http://newsletter.coconutapp.com/t/r/l/iiuyjd/jkukeui/r

RATE UPDATE

Prime rate is still holding steady at 2.25% with an apparent commitment by the Bank of Canada to keep it at this level until at least the end of Q2 2010. Variables are still looking attractive as a low cost mortgage option! Fixed rates have tweaked up slightly over the last month, but still represent good long term security.