June 18, 2024

This is how considerably you have to have to generate to invest in a property in Toronto suitable now

Whilst home loan premiums in Canada are beginning to development reduce, there is regrettably little aid on the horizon for possible homebuyers, as affordability circumstances continued to worsen in most cities — which include Toronto — throughout the thirty day period of April. 

The most up-to-date affordability examination by Ratehub.ca paints a somber photograph of the country's present-day true estate marketplace, finding that it became tougher to qualify for a home finance loan in 10 out of 13 significant marketplaces in Canada last thirty day period owing to increasing residence costs. 

The report analyzed the bare minimum yearly earnings essential to get an average property in major Canadian metropolitan areas primarily based on April 2024 and March 2024 real estate details, although also using into account how mortgage rates and the mortgage anxiety check are impacting the income desired to get a residence. 

In accordance to the examine, the regular five-12 months mounted home loan rate decreased a little bit between March and April from 5.62 for every cent to 5.5 per cent. 

The common mortgage loan anxiety test — which involves borrowers to prove that they could find the money for to have their mortgage at a fee of two per cent or larger than the one they receive from their lender — also sits at 7.5 for each cent. 

"The two critical variables that impact home affordability, residence values and fascination costs, moved in reverse directions," said James Laird, Co-CEO of Ratehub.ca. 

"Curiosity premiums are down and residence values are up in 12 out of 13 towns we seemed at. The raise in household values was adequate this sort of that affordability worsened in 10 of 13 cities even with the level drop." 

The data collected was dependent on a property finance loan with a 20 for every cent down payment, 25-calendar year amortization, $4,000 once-a-year property taxes and $150 regular heating. Average household costs were sourced from the CREA MLS Home Price tag Index (HPI).

In Toronto precisely, the normal household value in March 2024 was $1,113,600 and $1,128,100 in April 2024, representing a transform of $14,500 —the 2nd-best raise witnessed in Canada moreover Halifax. 

home prices toronto

How a great deal you need to have to make to be equipped to afford a property in major Canadian towns. Supply: Ratehub.ca

The research also uncovered that the cash flow expected to acquire an typical property in Toronto in March was $217,500, a figure that increased to a staggering $218,050 in April. 

Regardless of the increase, the newest info release from the Canadian Genuine Estate Association (CREA) reveals that an boost in listings has resulted in the most "balanced marketplace conditions we have witnessed at the countrywide level given that before the pandemic" this spring. 

"House loan costs are continue to higher, and it continues to be complicated for a whole lot of persons to split into the market," said James Mabey, Chair of CREA's 2024-2025 Board of Administrators. 

"For those who can, it is the initially spring marketplace in some time wherever they can store around, get their time and exercise some bargaining energy. Given how substantially desire is out there, it can be really hard to say how extended it will final," Mabey continued. 

In accordance to Ratehub.ca, it is really anticipated that homebuyers will return to the authentic estate industry at the time the Bank of Canada starts off chopping its lending amount, which could occur as early as the future announcement on June 5, 2024. 

!operate(f,b,e,v,n,t,s) if(f.fbq)returnn=f.fbq=function()n.callMethod? n.callMethod.implement(n,arguments):n.queue.drive(arguments) if(!f._fbq)f._fbq=nn.force=nn.loaded=!0n.model='2.0' n.queue=[]t=b.createElement(e)t.async=! t.src=vs=b.getElementsByTagName(e)[0] s.parentNode.insertBefore(t,s)(window,document,'script', 'https://link.facebook.web/en_US/fbevents.js') fbq('init', '833832351168298') fbq('track', 'PageView') window.freshDaily.facebookPromise = new Guarantee(perform (take care of, reject) (operate (d, s, id) var js, fjs = d.getElementsByTagName(s)[0] if (d.getElementById(id)) return js = d.createElement(s) js.id = id js.src = "https://link.fb.web/en_US/sdk.js" fjs.parentNode.insertBefore(js, fjs) (document, 'script', 'facebook-jssdk'))

window.fbAsyncInit = operate () FB.init( appId: "100616073343311", xfbml: correct, version: "v2.5" )

solve()

)

Summer Home Improvement Projects to Cross Off Your List

Summer is a great time for home improvement projects and DIY updates around the house. Set some time (and money) aside this summer to give your home some TLC. Not only will it increase the overall value of your home, but little upgrades here and there can also save you a lot of money down the line.

sturti/Getty Images

Some home improvements can be expensive, such as adding central air conditioning or remodeling an entire room of your house. But some lower-cost projects can add value for less money. Here are some simple, affordable home improvement projects to try this summer that won't break the bank.

1. Pressure-Wash Outdoor Areas

Winter weather can leave all sorts of dirt and grime on your home's exterior and other outdoor areas. Take advantage of the warmer weather to give your home a high-powered cleaning. A pressure washer can quickly remove buildup on siding, driveways, decks, patios, and walkways. 

If you don't own a pressure washer, you can often rent one at your local home center or hardware store. As you clean your home's exterior, direct the spray downward to avoid forcing water into cracks or seams. Use a lower-pressure setting on surfaces that could easily be damaged, such as painted siding or wood decks.

2. Refinish Your Deck

Sprucing up your deck with fresh paint or stain in anticipation of summer entertaining is a summer home improvement project that will really pay off. Not only will refinishing your deck give it a clean look, but it will also help reduce cracks and splinters, making the surface friendlier for bare feet. Proper prep is key to a beautiful finish, so take the time to clean the surface and strip off the old finish before you begin. 

While you're at it, consider painting your patio furniture to make it look good as new. Then hang some outdoor string lights to make your space a dreamy oasis perfect for hosting a event.

Jay Wilde

3. Build a Shed

Add value to your home and a spot to park your lawn equipment by building a shed in your backyard. Before starting this project, check with your local authorities, as building codes and ordinances vary by location. Once you've gotten the go-ahead, choose a spot in your yard that offers convenient access and prepare a solid, even foundation. You can purchase shed kits at home centers and online or find building plans that can easily be customized with different materials.

4. Declutter Your Home

A summer home improvement project that can make a big difference in your living space is decluttering. Air out and organize those sometimes-forgotten areas that tend to be used less in colder months, like the garage, an outdoor shed, or a basement. It doesn't usually cost anything to declutter, and you can earn money by selling items you no longer use. Plus, you can use your earnings toward other home repairs. 

"It costs nothing except a week or two of your time, and the ability to let go and part ways with unneeded clutter that no longer brings you or your home joy," says Emilie Dulles, lifestyle design expert and founder of Dulles Designs. Your clutter can cost you money, and getting rid of things you don't use will make room in your house and even give you ideas for other improvements.

5. Refresh Your House with Paint

Summer is the perfect season for more significant paint projects. If you have areas in your home that you've been meaning to repaint, such as entire rooms or the exterior, summer is the time to do it—and a little paint could go a long way in transforming your space. The warm weather lets the paint cure properly and ensures that it will last longer. 

"I think painting is one of the best DIY projects because it can be easily corrected if you make any mistakes," says Chicago-based real estate developer Bill Samuel. "It really has a huge impact on the overall space when you take your time to repair any blemishes and do a quality job." Samuel says you can expect to pay between $15 to $50 per gallon; more expensive paints will usually cover the walls better and last longer. Dulles recommends painting parts of your home (or all of it) white to make it look bigger and brighter.

6. Check Gutters

This might not be the most fun or creative home improvement project, but it's an important one for protecting your home against summer storms and preparing for the colder months ahead. 

"Winter, followed by a rainy spring, can take a toll on your gutters and downspouts," says Bailey Carson, home expert at Angi, a digital company that helps people find local professionals for home projects. "If they're ignored, you could end up needing to replace them altogether, or worse, dealing with foundation damage, interior flooding, driveway cracks, or landscape erosion." The damage would cost you way more than cleaning your gutters, which averages $160, ranging from $118 to $225. 

All you need (if you don't have this equipment) is a gutter cleaning attachment for your garden hose, a ladder, a bucket, a gutter scoop, and heavy-duty gloves. You could also buy a gutter guard to protect your gutters and prevent leaves from gathering in them in the first place.

Adam Albright

7. Spruce Up Landscaping

Give your yard some attention, too—you're probably spending a lot more time in it enjoying the beautiful summer weather. While the cost of renovating your outdoor space varies depending on the project, there are simple DIY improvements to elevate your backyard or front yard for a lot less. 

Commercial real estate investor and founder of Property Cashin Marina Vaamonde says landscape your front yard. "Gardens make homes more aesthetically pleasing, and they also can add to the property value. Summertime is the perfect time to plant perennials, a variety of beautiful-looking flowers that are low maintenance," says Vaamonde. She also suggests lupines and hydrangeas as other beautiful (and low-maintenance) additions to your garden.

Adding plants or flowers up the walkway to your front door can give you instant curb appeal and liven up your front yard, says money-saving expert Andrea Woroch. You can do the same sprucing up in your backyard to eliminate overgrown or dead plants, trees, or shrubs, and add some patio furniture.

8. Clean or Replace AC Filters

Another not-so-fun but critical summer home improvement project: cleaning or replacing the filters on your HVAC unit. Don't worry: this one is quick and won't take as much time as cleaning your gutters. 

"Filters get dirty, especially if they haven't been changed in six months," says Rick Hoskins, home DIY expert and founder of FilterKing. Dirty filters can cause allergies by circulating dust, mold, and other allergens throughout your home when the AC is on during the summer. All you have to do is find your AC and furnace vents, unscrew them, and clean or replace the filters. Hoskins suggests looking for filters with a MERV rating between 8 and 13 for optimal protection.

9. Repair Siding

Summer is a good time to evaluate your vinyl siding for holes or tears that compromise the barrier it provides to your house, as well as unsightly areas that might have grown dingy or stained. If you find a small damaged area, you can clean and repair with caulk. If your siding has a larger area that needs repair (beyond your DIY skill level), seek professional help.

Check the integrity of your caulk at siding seams and in the corners. A fresh bead of caulk might be needed to secure the siding. Remove the old and dry caulk, then run a fresh bead where needed.

10. Install a New Doorbell

Your home might need a new doorbell that simply works better or maybe you're ready to upgrade to a next-generation video doorbell that keeps the "porch pirates" away. Either way, summer is the perfect time to replace your doorbell.

Even if you aren't tech-savvy, installation is fairly simple and the manufacturers do a thorough enough job explaining the process. Of course, no two homes are alike and, sometimes, the manufacturer's instructions can leave you with unanswered questions. To ease you through the process, we've put together a step-by-step guide for installing your video doorbell.

Kritsada Panichgul


11. Plant a Garden

The longer days give us more time to work outside. For gardeners, or hope-to-be gardeners, summer is the season to try to new plants, design a new garden bed, amend soil, and more. If you've never planted a thing in your life, there's a lot to consider—your planting Zone, your soil, light conditions, how much you want to tend to your plants, and even food production vs. flower beds.

If you want to start small, consider a raised garden bed. The structure of the bed (usually some type of wood) defines the size of what you can grow, and therefore, how much time you'll need to devote to your garden.

12. Clean Your Windows

Clean windows improve your home's curb appeal and allow natural to fill your rooms inside. They also give you a better window to the world outside. But cleaning those windows can present a logistical challenge. How do you safely get to your exterior windows, especially those on the second floor? There are various approaches, including using a ladder, extendable poles, magnetic window cleaners, and robotic cleaners, and safety is a top priority.

If you're not cool with working on a ladder or have a tricky terrain, there are plenty of other gadgets and tools that make it possible to reach difficult windows—from telescoping squeegees to cleaner sprays you attach to a garden hose to robots.

13. Add Lights in Your Garden

Bringing in light is a great way to make your garden usable at all hours. Garden lights along a sidewalk can add style as well as safety. There are plenty of low-voltage landscape lights to choose from. Or for the easiest way to add light, buy some solar lights. They are a stock item in the big box stores or you'll find lots to pick from online. You pop them in the ground and that's it. The sun charges them throughout the day. The lights come on in the evening.

Another way to bring light to your yard is by hanging string lights in your tree. Wrap them on low hanging branches or around the trunk. If a permanent installation is an option, hire a pro to install uplights on trees for extra drama.

The longer summer evenings will be more fun with light

Furniture getting last chance at SIRCH

Kevin Dunlop stands outside a portable shed in front of the Thrift Warehouse in Haliburton, working on a cedar chest.

He bends over a table doing marquetry – a decorative inlay of a canoe reflected in water.

People might know Dunlop from his days on the Studio Tour, when he was known as the Marquetryman.

As he works on the chest, he says he’s been in the Highlands since 1981.

“My wife’s more local than I am,” he says with a grin that shows laugh lines around his mouth and eyes. “I’d never get that kind of credential.”

SIRCH has hired Dunlop for a new pilot, ‘last chance project.’ Marketing manager, Laurie McCaig, said for the next few months, the warehouse will be accepting wooden furniture that would normally be turned away, and end up in the landfill.

“We’ll determine whether it’s worth it to improve it and sell it by repairing, restoring, refinishing, repurposing or upcycling,” McCaig said.

Dunlop tells the story of the chest. It came in with loose veneer on the top, as it had been water damaged. It was rejected at the receiving door. They called Dunlop over for a second opinion. He was hesitant, recognizing it would be a big job. However, he said staff challenged him, “and I decided to take on the project.”

He scraped the bad veneer off the lid, made the marquetry panel, sanded it, put a new finish on it. It took about three days, but the time was an anomaly.

“For the most part, the pieces I’ve been able to save have been under two hours of work,” he says.

He added he spends a great deal of time in conversation with people while he works, educating them on how, they too, can fix furniture destined for the landfill.

“We’re not only trying to rescue the furniture, but we’re trying to stimulate peoples’ imaginations, so they can now go into the thrift store, look at something that’s not quite ready for main street, and can imagine what they might be able to do with it. They can pick my brain and get some ideas on technique.”

Dunlop said he’s “loving it.” McCaig added Dunlop is the man for the job. “He has a fantastic reputation in the area. That friendly face gets it every time, but his wealth of knowledge of woodworking, with him having a studio tour booth for many years, he was just the perfect fit. We were happy to bring him onboard.”

McCaig said he’ll be there until October. “We’re just trying to divert as much as possible from landfill, and we’re trying to teach, that’s what we’re all about. Someone might see a piece like that and say ‘oh, I don’t know’ and just toss it. Instead of tossing it, either bring it here and donate it, help the community, or take on the project yourself, because maybe Kevin can give you an easy solution for a problem. That’s what the program is all about.”

Dunlop said the public is enjoying the program as well.

“Half the people already are quite interested. They’ve been talking about things they’ve brought back to life. I’ve been inviting them to bring before-and-after pictures. I’d like to put up a bulletin board with peoples’ projects. And, people are really picking my brain for techniques.”

He adds, “at this point in my life, it feels good. In my career as a furniture maker, I’ve been responsible for cutting down some trees, now it feels kinda’ good to be making sure that the one’s with good bones are not going to the dump. For me, it’s a process. It’s been a nice headspace when I’m doing the work. Once it’s done, that’s just a byproduct.”

The Thrift Warehouse is at 128 Mallard Rd. in Haliburton.

Is mass timber the next big thing in cheaper, greener construction? More provinces are saying yes

Urban downtowns are sometimes called concrete jungles because the apartments and office buildings that make up skylines from New York to Vancouver are generally made of — what else? — concrete. 

But that could change with a push underway to build more tall buildings with another material: mass timber. 

Mass timber is an umbrella category of materials made by binding layers of wood together to create larger, stronger elements like panels and beams. Proponents say it's faster and easier to build with than concrete and steel, and less carbon-intensive to boot. 

If concrete and steel are the Coke and Pepsi of highrise construction, mass timber has so far been more of a generic-brand cola. Mass timber made up just one per cent of all building construction materials in North America in 2022, according to an RBC report

But analysts expect the market to rapidly expand in the years ahead, and all across the country, existing mass-timber plants are being expanded and new ones are in the works, from B.C. and Alberta to Ontario and Nova Scotia.

WATCH | Will mass timber mean more homes in Canada's biggest city? 

Mass timber construction is on the rise. Could it help the housing crisis?

There’s been an increase in large-scale building projects using mass timber, otherwise known as engineered wood. Experts say the material offers several benefits compared to steel and concrete — including sustainability and speed. Talia Ricci explores whether it could be part of a solution to Toronto’s housing crisis.

"The demand is extremely high for mass timber now," said Frank Gannon, director of stakeholder engagement with mass timber manufacturer Western Archrib. He spoke with CBC News inside a new, 155,000 sq. ft. facility the company is building north of Edmonton to keep up with its growing orders. 

"We are filling capacity slots about 10 months out from today — so yes, the phone's ringing off the hook."

The industry is getting a boost from new building codes that allow taller mass-timber buildings, and federal and provincial programs and policies that encourage builders to use more of it.

But so far, the uptake of mass timber has been uneven across the country, as some builders remain reluctant to switch from tried-and-true materials to something new. 

And while much of the buzz around mass timber comes from its low carbon profile, some experts disagree about how climate-friendly it really is.

Beams and columns, floors and walls

The two most common types of mass timber are glue-laminated timber, or glulam, and cross-laminated timber, or CLT

Glulam, which has been around since the early 20th century, is used to make beams and columns. CLT panels are a more recent innovation used for floors, roofs and walls. 

A man wearing safety glasses and a safety vest is pictured in front of a large beam made of glue-laminated timber.
Frank Gannon, director of stakeholder engagement with Western Archrib, stands in front of a large beam of glue-laminated timber at the company's plant north of Edmonton. (Paula Duhatschek/CBC)

Taken together, the two materials can serve as an alternative to concrete and steel in a building, said Brian Merwin, senior-vice president with Mercer Mass Timber in Vancouver.

"CLT is the transformational material for tall buildings," he said, adding that most of the material used in highrises is for the floors. "[It's] sort of filled that missing gap to get us to where we are today."

Federal tracking shows mass timber has most commonly been used in institutional buildings, like schools and community centres, but as more research has emerged attesting to the fire safety of tall wood structures, recent changes to building codes have opened the door to building higher.

In 2020, the National Building Code of Canada was changed to allow encapsulated mass-timber construction up to 12 storeys. That means mass timber components in these taller buildings have to be covered by a fire-resistant material, like drywall.

Ontario and B.C. have gone further, and will allow up to 18-storey buildings.

Faster and lighter

Building with mass timber carries several advantages, according to structural engineer Robert Malczyk. It's faster to work with than concrete, he said, because panels can be largely prefabricated and assembled on-site. 

His own five-storey Vancouver office building, made with mass timber, was erected in 12 days. 

A piece of curved, glue-laminated timber is pictured at the Mercer Mass Timber factory in Okanagan, B.C.
A worker at the Mercer Mass Timber factory in Okanagan, B.C., works on a piece of curved, glue-laminated timber. (Submitted by Jenn Kochanski)

"As an owner, I saved a lot in crane time, in closure of the streets time," said Malczyk, principal with the Timber Engineering consulting group. 

Mass timber is also relatively light, making it more resilient to earthquakes, he said. Plus, many people simply like the way it looks. 

"It has this beautiful calming effect, it's a natural material. We just love to be surrounded by wood."

Proponents of mass-timber construction also point to its environmental advantages.

Wood is a renewable resource, said Mohammad Mohammad, a senior research adviser with Natural Resources Canada, and producing it generates far less carbon compared to steel and concrete

A man wearing blue-framed eyeglasses and an orange sweater is pictured inside a mass timber office building.
Robert Malczyk, principal at Vancouver's Timber Engineering Inc., stands inside his mass-timber office building. He says the building took only 12 days to construct. (Dillon Hodgin/CBC News)

At the end of a building's lifespan, he said, wood can also be recycled or reused, rather than being sent to a landfill. 

"It has a lot of environmental benefits," said Mohammad, who works with a federal program funding innovative wood-construction projects that is so oversubscribed, its website contains a high-volume notice.

Green claims questioned

Not everyone is ready to throw out their cement mixers and switch to mass timber. 

While construction in B.C. and Quebec, for example, has grown thanks to "wood-first" policies in their respective provinces, other provinces remain a bit more hesitant. 

Many developers in Alberta, for example, are studying mass timber carefully but haven't yet felt comfortable green-lighting a mass-timber residential building, said Scott Fash, CEO of BILD Alberta.

"I think we're in the phase of exploration and not quite action," he said. 

A close-up on a piece of glue-laminated timber.
This close-up of a piece of glue-laminated timber shows the multiple layers of lumber that are glued together. (Paula Duhatschek/CBC)

Insurance premiums can also be high for builders working with mass timber, said analyst Sean Steuart, not because it's a more dangerous material but because it's so new. 

"It's just not a well established industry, and as such, the insurance-underwriting framework is not as well developed," said Steuart, director of equity research with TD Cowen.  

He said there's also a mismatch between supply and demand of mass timber: most demand is coming from Eastern Canada but manufacturing is concentrated in the West, which can drive up shipping costs. 

Another risk: not everyone thinks mass timber is as sustainable as it's made out to be, and some experts caution against cutting down more trees to build with more mass timber. 

"The most valuable thing we can do with forests is to leave them standing and growing," said Timothy Searchinger, whose work on mass timber has been published in the journal Nature and by the World Resources Institute

He suggests the world would be better off exploring more low-carbon concrete options instead. 

The exterior of a mass timber condo building in New York City.
Glue-laminated timber was used for the balconies on New York City's Timber House. Some builders have been reluctant to switch to mass timber from more established materials like steel and concrete. (Brendan McDermid/Reuters)

Faster housing construction?

Mohammad, with Natural Resources Canada, said the vast majority of forests harvested in Canada are sustainable, and that usually more than one tree is planted for every one that's cut. 

As Canada attempts to rapidly ramp up housing construction in the years ahead, he believes mass timber will play an important role in the overall mix of construction materials — especially in Northern communities, where concrete can be prohibitively expensive and hard to ship. 

"[You can] basically establish a new housing development within weeks or months," he said.

"Now that we are able to go taller and larger with mass timber, it's just adding another construction system, another tool to our toolbox."

Rick Jeffery, CEO of the Canadian Wood Council, doesn't see a scenario where mass timber fully replaces concrete and steel. He also pointed out that it's not common for buildings to be made of mass timber alone: typically they're made of some mix of the three materials.

But he believes mass timber will be used much more often as Canada aims to build its way out of the housing crisis (a goal that will require another 3.5 million homes by decade's end). 

"We see there's a big opportunity on that residential side."

B.C. real estate: CRA audits uncover $1.3 billion in unpaid taxes

The CRA identified $957 million in unpaid income taxes over eight years of audits targeting B.C. real estate, more than five times the amount in Ontario, which has three times B.C.'s population

Get the latest from Dan Fumano straight to your inbox

Article content

After taking a deeper look into B.C.’s real estate sector, Canada’s tax regulator has uncovered $1.3 billion in unpaid tax bills.

The Canada Revenue Agency has dramatically ramped up its auditing of real estate in recent years, scrutinizing both personal transactions and professional activities.

The agency has found “a disproportionate amount of non-compliance” in Canada’s largest metropolitan centres, with Metro Vancouver “identified as an area that requires our unique attention,” said Jason Charron, director general of the CRA’s compliance programs branch, recently. “We’re continuing to focus on the Lower Mainland, where we know there’s non-compliance.”

Advertisement 2

Article content

Since launching a dedicated real estate task force in 2019, the CRA has mostly focused on Ontario and B.C., increasing the number of audits performed, sending out reassessment notices for billions in additional taxes the agency believes should be paid, and levying hundreds of million dollars in penalties.

In Ontario, the agency assessed $1.4 billion in unpaid taxes and penalties in the real estate sector between 2015 and 2023. B.C., which has about a third of Ontario’s population, had almost the same amount of tax non-compliance identified over the same period: $1.3 billion.

These real estate audits looked at a wide range of activities and entities: property-sellers illegitimately claiming the principal residence exemption, unreported capital gains, people who reside outside of Canada and invest in property here, share transfers and corporate structures designed to mask a property’s beneficial owners, and the activities of homebuilders and realtors.

Although the total value of unpaid taxes and penalties found in B.C. and Ontario was similar, the nature of non-compliance was markedly different in the two provinces. In Ontario, most non-compliance identified by the CRA in real estate was related to unpaid GST and HST on new homes or inappropriately claimed rebates on those taxes. In B.C., most of the non-compliance related to income tax.

Article content

Advertisement 3

Article content

Data provided by the CRA shows that the agency identified $957 million in income tax-related non-compliance in B.C. real estate between 2015 and 2023, more than five times the amount found in the larger province of Ontario, at $178 million, over the same period.

The CRA says confidentiality laws prevent the release of information about the audits, but sent a written statement that said, in general, the income tax-related non-compliance included:

• Situations where a taxpayer acquired an expensive home without a clear reported source of income

• Profits from the quick flipping of homes that aren’t properly reported as taxable business income

• People, including those who aren’t residents of Canada, failing to report capital gains on sales of real estate

• Unreported income earned outside of Canada

• Non-compliance by realtors and developers.

The CRA declined to say how which categories the $957 million broke into  — for example, how much was related to property flippers or developers or non-residents — citing the need to protect taxpayer information and maintain “the integrity of our risk assessment system.”

Advertisement 4

Article content

The number of income tax-related audits CRA conducted in B.C. real estate increased by almost 10 times between the 114 audit files opened in the 2015 fiscal year and the 1,089 opened last year.

There has been a corresponding boom in what the agency calls “audit assessments,” meaning the combined value of unpaid taxes still owing and penalties levied. Income tax-related audit assessments related to B.C. real estate averaged $6.4 million annually for the two fiscal years between 2015 and 2017, and shot up to an average of $155.1 million annually over the most recent two-year period, a 2,300 per cent increase.

Canada’s 2019 federal budget included $50 million over five years for the CRA to create a real estate task force, with specialized audit teams. Last month, the 2024 budget boosted that funding to $73 million for the next five years.

This work seems to be “paying for itself and then some,” said Tom Davidoff, an associate professor at the University of B.C.’s Sauder School of Business. The findings show there was “obviously” some kind of problem with tax compliance in this sector, he said, “but what we don’t know is how big of a problem it is now … If there was a problem and they solved it, that would be fantastic.”

Advertisement 5

Article content

For years, many British Columbians were “ringing the bell” about people cheating on their taxes with real estate dealings, said Davidoff, director of UBC’s Centre for Urban Economics and Real Estate. This recent crackdown might not make housing in B.C. significantly more affordable, he said, “but it’s real money and it’s certainly useful to get it back where it belongs.”

Davidoff co-authored a 2022 paper published in The Canadian Tax Journal, which examined the top five per cent of Greater Vancouver homes had a median value of $3.7 million, while the median owner paid income taxes of just $15,800. This was the lowest correlation of property values to income tax contributions of any North American city, the authors wrote, concluding that “most luxury homes in Greater Vancouver appear to be purchased with wealth derived from sources other than earnings taxed in Canada.”

Considering these earlier findings, Davidoff said it makes sense that the CRA’s recent audits of B.C. real estate uncovered income tax “chicanery.”

Representatives of both the Greater Vancouver Realtors and the Canadian Home Builders Association of B.C. said they haven’t heard anything from their members about any recent increases or changes in CRA activity.

Advertisement 6

Article content

Canadians for Tax Fairness, a non-profit tax policy advocacy group, said it welcomes the CRA “doing more to ensure that the real estate sector complies with tax laws, and we encourage the government to adequately fund the CRA so they can do their job.”

In an emailed statement, Canadians for Tax Fairness spokeswoman Erica Shiner said: “Tax avoidance continues to be a problem in many sectors, costing Canadians billions in revenue each year.”

[email protected]

twitter.com/fumano

Recommended from Editorial


Bookmark our website and support our journalism: Don’t miss the news you need to know — add VancouverSun.com and TheProvince.com to your bookmarks and sign up for our newsletters here.

You can also support our journalism by becoming a digital subscriber: For just $14 a month, you can get unlimited access to The Vancouver Sun, The Province, National Post and 13 other Canadian news sites. Support us by subscribing today: The Vancouver Sun | The Province.

Article content

5 Most Profitable Home Improvements to Make Before Selling Your Home

Getting ready to sell your house? You may want to consider these five home improvements to ensure a bigger price tag at closing time.

Unless you’re Joanna Gaines, the prospect of updating and prepping your home for sale can seem daunting. All those little repairs you were happy to postpone for another day (or year) may seem like glaring problems to a buyer once your home is on the market. So, what to do? Option one is to hope you luck into a buyer who will see your home not as it is now, but for what it could be. Option two is to put some money and time into a few repairs that will help get your home market-ready. Although the latter option may seem like a lot of hassle, it can translate to serious money — nearly a quarter of sellers who do home improvements sell their home above list price. 

Thankfully, you don’t have to spend months (or many thousands of dollars) with a contractor to get your home ready — many small DIY home improvements can yield big returns on closing day. (And you can invest those returns to make even MORE money!) Here’s a look at five of the best.

1.) Painting

Painting is the lowest cost improvement with the highest rate of return, so it’s not surprising that 36% of home sellers choose to do it, according to Skylar Olsen, Zillow’s Director of Economic Research. When trying to sell, a nice coat of neutral paint can give the entire house a facelift, and buyers really love to see a fresh blank canvas. Consider getting color recommendations from a trained professional since paint colors can be tricky depending on lighting and other features in the house such as cabinets and flooring,” says Jennie Norris, chairwoman for the International Association of Home Staging Professionals. If you’re looking for a “safe” color, gray has been trending in recent years, Norris says.

Initial Cost of Investment: Professional painting of the interior of an entire 2,500 square foot house can be anywhere from $2,000-$4,000 depending on the market, according to Norris. If there are vaulted ceilings or a lot of detail work, it could be more.

If That’s Too Expensive, Consider: DIY, if you’re handy with a paintbrush. Buy a 5 gallon bucket of a neutral paint color (much cheaper than buying per gallon) and get to work. “At the very least, if you can’t do the painting yourself, wash your walls and declutter to create a nice open space,” suggests Lori Matke of homestagingexpert.com.

 

2.) Landscaping Your Yard

The outside of your house is a buyer’s first impression when they pull up. A patchy or overgrown yard can be a major turn-off. Anything that’s dead should be removed, and anything that’s overgrown should be cut back. You can make sure the lawn is refreshed and green by re-sodding or planting grass seed, and you may want to do edging to help define spaces. Also, fresh mulch or straw in any beds is a must.  “A few newly planted shrubs and perennials tucked in for good measure will make your house feel much more finished and inviting,” Matke suggests.

Initial Cost of Investment: Professional landscaping can cost anywhere between $500 – $3,000 (and higher if you add in tree removal) according to Matke.

If That’s Too Expensive, Consider: If you’re up for a little sweat equity, roll up your sleeves and remove anything dead yourself. You also don’t need a pro to purchase grass seed. Just follow the directions for planting, and keep it watered and mowed. “A good, sturdy garden rake can tidy up the borders, and instead of renting a lawn edger, a sharp, heavy-duty putty knife works just as well,” Matke says. For color, you can purchase a few bright annual flowers at your local garden shop and either plant them directly into the landscape around the house, or add them to pots near the front door.

 3.) Flooring

Replacing carpet or repairing flooring is an improvement that 26% of homeowners make, according to Zillow. If you’ve got lots of rooms with many types of flooring, you might want to bite the bullet and invest in new flooring for all, to create a seamless feel throughout the house. Wood floors, or even faux-wood floors, are preferable to carpeting even though those options can be more costly, Matke says.  If, however, you can’t afford to upgrade to wood, new carpeting is still a major selling point. And just like with painting walls, a good neutral color is best.

Initial Cost of Investment: For professional flooring installation, expect to pay between $10 – $12 per square foot for faux wood, and up to $30 for real wood. An average quality carpeting will cost about $8- $12 per square foot, installed, says Matke.

If That’s Too Expensive, Consider: Some outlet centers have flooring stores, where you can sometimes find great deals on older styles that have been discontinued, Matke says. If an upgrade absolutely isn’t in the budget, then look to have your carpeting and hardwoods professionally cleaned. If you have a few worn/discolored areas on the hardwoods, touch them up yourself with a little water-based stain to make them less noticeable. And don’t forget about the charm of a nice throw rug when needed.

4.)Bathroom Update

A mid-range bathroom update (think natural stone for countertops, not high-end quartz) offers a great return on investment, according to data from Zillow. And a bathroom that looks old can really date a house, Norris says. A few lucrative bathroom updates could include: new counter tops, new tiling, frameless glass doors (get rid of the brass or metal), new cabinets, and new fixtures for the sinks and tub. When replacing cabinets, remember that minimalism is best — neutral colors, and no designs or raised panels.

Initial Cost of Investment: The cost of a mid-range bathroom remodel averages between $3,000-$12,000 according to Zillow.

If That’s Too Expensive, Consider: Dated tile always looks better with clean grout lines, so consider cleaning or freshening the grout, which you can DIY or hire someone to do. Also, instead of replacing cabinets, you can simply paint them — white, gray, or black can offer a clean look, according to Norris. And reglazing the tub will always be cheaper than installing a brand new one.

5.) Update Lighting Fixtures

Replacing lighting throughout a house can be a simple update for a small investment — but it can make a bit impact where appearance is concerned, Norris says. As you look at options for chandeliers, pendant lighting, and ceiling fixtures, remember to keep colors consistent with your home’s hardware. For example, you can mix metals such as copper and oiled bronze, or brushed nickel with chrome, but you wouldn’t want to mix gold and silver tones. Keep in mind that older brass fixtures can look dated, since they were often used in properties built in the 80’s and 90’s. In other words, if you’re going to the trouble to put in something new, make sure it offers a true update.

Initial Cost of Investment: Light fixtures for dining areas or pendant lights can be a few hundred to thousands of dollars, depending on source and style, Norris says. But there are often good deals to be found at places like Ikea, Home Depot, Lowes, and other stores that cater to the DIY crowd, where some fixtures can cost under $100.

If That’s Too Expensive, Consider: Less is more. Especially with lighting, sometimes it’s more about what you don’t see than what you do… So if that giant 1980’s chandelier is eclipsing the living room, don’t feel like you have to replace it with something fancy — just take it out. The buyer can easily imagine for themselves what they’d like in the space, and you don’t have to spend a dime. You can also install fixtures yourself, but where wires are concerned, make sure you have a professional electrician to help.

So, How Much Can I Really Make?

There’s no one-size-fits-all answer here — every home is different, and every neighborhood and part of the country will yield varied results. But a common formula used by home stagers is that every  $1 put into a house should yield an additional $1.50 increase at closing, at least. With some projects, the rate can be much higher — bathroom remodels boost sales prices by $1.71 for every $1 spent, according to Zillow. This means that a $5,000 bathroom renovation would yield a bump in home price of $8,550, perhaps more.

Find the Perfect Real Estate Agent
HomeLight analyzes millions of home sales to find real estate agents that sell homes faster and for more money.

Lastly, Small Repairs Are Great, But Don’t Lose Sight Of The Bigger Picture  

Before you get carried away making these smaller cosmetic adjustments, spend some time looking at your home’s basic needs — are all the big things in working order? Buyers have certain expectations, and that includes getting a house that has been well maintained and is safe and livable. “In other words, if you’re contemplating a kitchen remodel but your roof is leaking like a sieve, you need to address the roof issues first before indulging in any updates,” says Matke.

Also, while you’re trucking on your “repair and improve” bandwagon, avoid taking on costly projects that have a purely personal appeal — like that water feature and koi pond out back you’ve always dreamed of. “You simply will not get your money back on those types of additions, and buyers might be more apt to reconsider if it’s not something they’ve always dreamed of, too,” Matke explains.

Own your money, own your life. Subscribe today to get the latest money news and tips!

Editor’s note: We maintain a strict editorial policy and a judgment-free zone for our community, and we also strive to remain transparent in everything we do. This post contains references and links to products from our partners. Learn more about how we make money.

More on HerMoney:

SUBSCRIBE: Own your money, own your life. Subscribe to HerMoney to get the latest money news and tips!

Editor’s note: We maintain a strict editorial policy and a judgment-free zone for our community, and we also strive to remain transparent in everything we do. Posts may contain references and links to products from our partners. Learn more about how we make money.

!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n; n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window, document,'script','https://connect.facebook.net/en_US/fbevents.js?v=next');

Inside Ray Kappe’s only house design outside the US

The work of the late Los Angeles master Ray Kappe (1927-2019) is part of the American modernist architecture legacy that vintage furniture dealer Lars Triesch fell in love with from afar. The result of his passion is Triesch Residence, a Kappe-designed home built in the leafy town of Kleinmachnow, southwest of central Berlin.

Ray Kappe house renovation

(Image credit: Jürgen Nogai)

Tour Ray Kappe's Triesch Residence

As a young draftsman, Kappe worked on Eichler villas (Joseph Eichler's iconic low, glass-enclosed, A-frame roof homes that came to epitomise California Modern), which were, at the time, rising across 20th-century US suburbs. In the 1970s, he became the founding director of the academic program at SCI-Arc, the Southern California Institute of Architecture. His Los Angeles office promoted eco-modernism with flat roofs, heavy timber structural beams, and oversized picture windows framing leafy vistas. Triesch and his wife, Sara, a painter, wanted all those - but in their home base of Berlin.

Ray Kappe house renovation

(Image credit: Jürgen Nogai)

They decide to build their dream home from the ground up. Seven years ago, even before securing land where constructing a flat roof would be allowed, Triesch, 44, and his family of four, went straight to the source in Los Angeles to meet Kappe and tour five of his California houses. The architect had never built outside the US but still signed on - ultimately in partnership with his sons Finn and Ron - to invent a California-inspired home for Germany that respects the snowy climate and strict Berlin building codes.

Ray Kappe house renovation

(Image credit: Jürgen Nogai)

Ray Kappe died at age 92, and he never saw the finished project, which is now complete, featuring four bedrooms, two bathrooms, a sauna, a screening room, and a studio. It’s wrapped in large windows and custom-milled redwood siding shipped from Oakland, California, in a container, alongside a bespoke Ofuro soaking tub assembled from redwood planks laminated by an artisanal Pacific Coast workshop.

Ray Kappe house renovation

(Image credit: Jürgen Nogai)

Challenges included a quest for Slentex, a slim new inorganic aerogel insulation to layer inside Kappe’s thin exterior walls (it reduced the required thickness of chunkier German wood-framed walls by half). Arguably, Kappe’s lifelong interest in architectural prefab also helped the design set sail. Factory-made walls and structural members got bolted together on-site in just a week, streamlining construction.

Ray Kappe house renovation

(Image credit: Jürgen Nogai)

A suspended 'free-swinging' staircase uses the architect’s signature wood blocks - stacked 'like Jenga,' as Triesch notes - in Douglas Fir to match exposed structural beams. Such fir is rare in Germany, as is the 1.5”-wide clear red oak strip flooring. (Stains and wood protectants came from Sansin and Bona, two of many manufacturing partners for the house detailed on Triesch’s information-rich construction blog)

Ray Kappe house renovation

(Image credit: Jürgen Nogai)

The structure grows out of a mature landscape rejuvenated by Topanga-based Richard Grigsby. Norifumi Nishioka selected plants for the wild new Japanese-style meadow with a manmade waterfall and creek bed inspired by a stream at the iconic Kappe Family home in Pacific Palisades.

Ray Kappe house renovation

(Image credit: Jürgen Nogai)

Of course, as a mid-century dealer, Triesch has 'a big stock' of vintage furniture. He decided to decorate his home with Kappe-designed pieces where possible, replicating one-offs he’d seen touring that home in LA. Today those new prototype tables and a sofa live in Kleinmachnow, while their authorized reproductions sell through his furniture shop, Original. in Berlin.

Ray Kappe house renovation

(Image credit: Jürgen Nogai)

originalinberlin.com

window.reliableConsentGiven.then(function() !function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function() n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments) ;if(!f._fbq)f._fbq=n; n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window, document,'script','https://connect.facebook.net/en_US/fbevents.js'); fbq('init', '756449714459937'); fbq('track', 'PageView'); )

The PBOC (“Big Momma”) Releases Real Estate Policy Bazooka, Week In Review

Week in Review

  • Asian equities were sharply higher this week, led by Hong Kong, Indonesia, and Taiwan, though Mainland China markets were flat.
  • This week was a busy one for internet earnings as Tencent and JD.com beat estimates handily while Alibaba and Baidu reported mixed results.
  • Real estate was also in focus this week as news of a government effort to purchase unsold apartments to stabilize prices led to gains in developer stocks.
  • Inflation reports were further impacting markets this week as China reported higher-than-expected growth in consumer prices, a good sign for its economy, and the US’ softer-than-expected CPI print contributed to a risk-on atmosphere globally.

Key News

Asia ended the week higher as Mainland China and Hong Kong outperformed while South Korea was off.

It was an interesting session overnight. Hong Kong and Mainland China bounced around the room before slipping following April economic releases. This is despite Vice Premier He Lifeng’s comments on real estate policy support. Then, markets went absolutely vertical after the People’s Bank of China (PBOC), China’s central bank, announced three policies to support the real estate market.

The PBOC’s real estate three-pronged stimulus package involves: (1) providing RMB 300 billion ($41.5 billion) worth of loans to local governments to buy unsold apartments (really RMB 500 billion, assuming it represents 60% of the loan principal) at an interest rate of 1.75%, (2) lowering the minimum down payment for first-time home buyers’ mortgages to 15% and to 25% for second homes, (3) lowering the mortgage rate for first-time home buyers for loans of 5-years or less by 0.25% to 2.35% and to 2.85% for longer-term loans (2.78% and 3.33% for second-time home buyers).

This is the closest to the policy bazooka we’ve seen in addressing the multiple facets of real estate’s impact on China’s economy. Multiple agencies including the Ministry of Finance, the Ministry of Housing and Urban Development, and the Ministry of Natural Resources released statements around these top-down policy changes. The facets of economic impact are (1) depressed property developers creating a financial crisis (i.e. China’s Lehman moment though no one believes the government would allow a financial crisis to unfold right in front of them), (2) the lack of property development, which means fewer jobs, (3) fewer new apartments, which means less demand for home appliances, furnishings, etc., and (4) lower property prices, which have been weighing on household wealth and thereby domestic consumption (60% of China’s household wealth is tied to housing). This is a real step-up in policy. Yes, it is not a magic bullet that will suddenly solve the above issues, but it will help.

April new home prices declined -0.58% from March and existing home prices fell -0.94% from March.

Did you notice all the “buts” in Western media reporting on this topic? Foreign investor confidence in China, especially amongst US investors, is low, which explains the skepticism. Why bother when the Magnificent 7 goes up every day? That is true, until it doesn’t.

In China they call the PBOC “Big Momma” because you don’t mess with the PBOC. Investors in China and Asia will recognize that when the government pivots, you should too!

Real estate was the top-performing sector in Mainland China, where it gained +7.94%, and Hong Kong, where it gained +5.42%. Developer China Vanke gained +19.37% and Sunac gained +25.85%.

Knowing professional investors are underweight China, it is not surprising that trading desks were busy overnight. Think about all those emerging market funds that own Nvidia and Microsoft
Microsoft
! Hong Kong trading volume was lower than yesterday, though still 178% of the 1-year average led by Tencent, which gained +0.36%, Alibaba, which gained +7.53% after short selling firm Citron re-recommended the stock, Ping An Insurance, which gained +5.7%, Meituan, which fell -0.48%, and China Construction Bank, which fell -0.85%. It is interesting that Tencent’s market capitalization is $476 billion versus Alibaba’s $213 billion, though I suspect that Alibaba will receive some TLC from mainland investors once added to Southbound Stock Connect this fall.

The Hang Seng closed above 19,500 as Mainland China outperformed Hong Kong.

In last night’s economic release, industrial production was stronger-than-expected though retail sales surprisingly came in lower. Meanwhile, online retail sales were relatively strong. Property investment was unsurprisingly lower, along with property sales. Remember our trading buddy Dave’s saying – “if market no care, you no care”.

I recommend checking out Charlie Munger’s interview on the Acquired podcast. He had interesting comments on investing in China, including a discussion of Berkshire Hathaway’s
Berkshire Hathaway
BYD investment.

The Hang Seng and Hang Seng Tech indexes gained +0.91% and Wayne Gretzky +0.99%, respectively, on volume that decreased -12.49% from yesterday, which is 178% of the 1-year average. 333 stocks advanced while 150 declined. Main Board short turnover declined -17.92% from yesterday, which is 139% of the 1-year average, as 14% of turnover was short turnover (remember Hong Kong short turnover includes ETF short volume, which is driven by market makers’ hedging). All factors were positive as value and large caps outperformed. The top-performing sectors were Real Estate, which gained +5.41%, Consumer Discretionary, which gained +2.65%, and Financials, which gained +1.24%. Meanwhile, Health Care fell -0.82%, Technology fell -0.38%, and Consumer Staples fell -0.1%. The top-performing subsectors were real estate services, insurance, and retail. Meanwhile household/personal products, semiconductors, and pharmaceuticals were among the worst-performing. Southbound Stock Connect volumes were high, almost twice the 1-year average as Mainland investors bought a net $763 million worth of Hong Kong-listed stocks and ETFs, including Bank of China, which was a large net buy, Tencent, and China Construction Bank.

Shanghai, Shenzhen, and the STAR Board gained +1.01%, +1.18%, and +1.06%, respectively, on volume that increased +4.6% from yesterday, which is 104% of the 1-year average. 3,295 stocks advanced while 1,585 stocks declined. All factors were positive as value and large caps outperformed. The top-performing sectors were Real Estate, which gained +7.93%, Financials, which gained +1.48%, and Materials, which gained +1.26%. Meanwhile, Health Care was the only negative sector, falling -0.41%. The top-performing subsectors were real estate, insurance, and chemical fibers, while motorcycles, power generation equipment, and household appliances were among the worst-performing subsectors. Northbound Stock Connect volumes were average as foreign investors sold a net -$875 million worth of Mainland stocks. CNY was flat and the Asia Dollar Index was lower versus the US dollar. Treasury bonds rallied. Copper and steel were both up 1.17%, which I have never seen before.

Upcoming Webinar

Join us on May 29th, 2024 at 9 pm EDT for:

China Rising? Unveiling The Potential Drivers of A Sustained Equity Bull Market

Please click here to register

Join us on June 11th, 2024 at 10 am EDT for:

Trump or Biden: Two Former US Ambassadors Discuss The Election & Its Likely Impact on US-China Relations

Please click here to register

New Content

Read our latest article:

5 Reasons China's Recent Stock Market Rally is Fundamentally Different

Please click here to read

Last Night's Performance

Last Night’s Exchange Rates, Prices, & Yields

  • CNY per USD 7.22 versus 7.22 yesterday
  • CNY per EUR 7.85 versus 7.85 yesterday
  • Yield on 1-Day Government Bond 1.35% versus 1.36% yesterday
  • Yield on 10-Year Government Bond 2.31% versus 2.31% yesterday
  • Yield on 10-Year China Development Bank Bond 2.41% versus 2.42% yesterday
  • Copper Price +1.17%
  • Steel Price +1.17%

How to Clean an Air Conditioner

Learning how to clean an air conditioner is critical, especially before summer gets into full swing and scorching hot days become the norm. During the summer, your air conditioner works overtime, especially if you like to keep cool by staying inside. And if you always want cool air blasting from your portable air conditioner, you definitely need to learn how to keep your air conditioner clean.

Whether you have central air or a window unit, here's how to clean an air conditioner like a professional. Plus, check out air conditioning maintenance tips and tricks from our experts you can easily do to protect yourself from the summer heat.

  • Dave Mejean is the HVAC manager at B&W Plumbing and Heating Co., Inc.
  • Brian Kleinschmidt is a home improvement expert and American Standard Heating & Air Conditioning partner.
  • Mika Kleinschmidt is a home improvement expert and American Standard Heating & Air Conditioning partner.
  • Giacomo Calzavara is the Managing Director of JMATEK North America, a licensee of Honeywell portable cooling products.

How Often to Clean an Air Conditioner

Window AC

Air conditioning units need to be cleaned regularly. "I would recommend cleaning [a window AC unit] every two weeks," says Giacomo Calzavara of JMATEK North America.

Central Air

As for a central AC unit, it's a good idea to have a professional inspect and clean your system once a year. They can make sure the coolant levels are on target, check for leaks, and clean the coils.

How to Know When Your AC Needs Cleaning

While it's best to clean your air conditioner at least once a year, there are signs you can look for that indicate it needs to be cleaned between annual washdowns. Dirty air conditioners not only affect the unit's performance, they can also send pollutants and irritants into your home's air, so keeping them clean is vital.

Your AC Isn't Cooling Efficiently

If your air conditioner isn't cooling your home or room as well as it usually does, or if the air being blown out of the unit is not cold, that's a massive sign that your AC needs maintenance. When the AC doesn't work efficiently, you might be tempted to crank the thermostat down or let it run for longer; before you do that, try cleaning it so you don't run up your electric bill.

Your AC Is Making Weird Noises

Your AC unit should not make noises other than a mechanical hum or the sound of the blower. If you hear a knocking or whirring or the unit sounds louder than usual, it may be time for a cleaning.

Your AC Smells Off

Your air conditioner should not be releasing any odor into the air. If you suddenly notice a musty, earthy, or burning smell, check your unit—it probably needs to be cleaned.

Your AC Unit Looks Dirty

A significant sign that your AC needs a good cleaning is that it simply looks dirty. Yes, a certain amount of dirt will collect on the part of the unit that sits outside. However, if you notice dust or dirt on the fins, dirt in the runoff pan, or even mold, your AC needs to be cleaned. Running a dirty air conditioner decreases its efficiency and can damage your entire system, so it's critical to keep everything clean.

Your Energy Bills Increase

Noticed a sudden uptick in your electric bill? The cleanliness of your air conditioner might be to blame. Dirty ACs don't function at their highest efficiency, which means they have to work harder, driving up energy bills. If you've noticed an increased bill with no explanation, check your AC unit.

Considerations Before You Get Started

The first and most important step in cleaning your air conditioner unit is to disconnect the electricity. For window units, make sure they're unplugged. If you're doing light cleaning of your central AC, turn off the electricity via the circuit breaker.

There are two primary areas to focus on when cleaning a window AC unit: filters and coils.

  • Filters remove the dust from the air and when they're clogged, they force your AC unit to work harder and use up more energy to cool your home—that costs more for you without delivering results.
  • Coils help move the hot and cold air, so make sure they're not clogged with dirt and dust.

Of course, for some air conditioning systems (like central AC), it's best to have a professional HVAC contractor inspect the unit, check the ductwork, and ensure it's operating efficiently.

"Companies like ours should come out and do the heavy maintenance on it, but in between, there are air conditioning maintenance tips people can follow themselves," says Dave Mejean of B&W Plumbing and Heating. "It's like a car: You have to have your mechanic tune it up, but there are still things you can do to make sure it's running too."

Moving Soon? These 12 Tips Can Simplify Your Next Move

Deciding to purchase a new home and choosing a new place to live are two of the most impactful decisions you'll make in your adult life. Buying a new home, especially, is a huge milestone. However, just because you have the keys, that doesn't mean you're ready to move all of your stuff into your new place. 

Regardless of whether this is your first time moving or you're a seasoned pro, you might already know the basics: how to pack all your belongings in boxes; how to transport those boxes (maybe even with the help of movers and a moving truck) to your new space; and how you should unload everything once you get there. With all the hustle and bustle of a move, it's easy to forget to take care of some crucial home projects before pulling up in your moving van.

CNET Moving Tips logo CNET Moving Tips logo

There are plenty of projects you can tackle while living in your home, but some are better done before you move in to save yourself the extra stress. Consider updating, replacing, remodeling and knocking out these home projects before moving in full-time. After finishing those up, check out the best internet providers and whether you should invest in solar panels. 

Transfer utilities and change your address 

Changing your address and updating your utilities may seem obvious but can be easily overlooked when you're busy with the home-buying process. Make sure you have utilities and core services set up to be active in your new home before you move in. What a bummer to spend your first night in your first home with no power. Don't forget to also transfer mail, the internet, TV services and any regularly scheduled deliveries to your new home address.

Person with orange gloves scrubbing a tile floor Person with orange gloves scrubbing a tile floor

The floor is just one spot you should clean in your new home.

Alfred Evelina/Getty Images

Deep-clean

No matter whether your new home looks spotless or is visibly dusty, it's a good idea to give it a deep clean before you settle in. The previous owner probably left some dirt, pet hair, dust or other grime behind. Whether you see it or not, it's best to start fresh. 

Before moving in, you'll want to clean these spots. While scrubbing, take a moment to replace your air filters and check your smoke detectors, too. 

1. Kitchen
2. Cabinets
3. Stove 
4. Refrigerator
5. Bathroom
6. Shower heads
7. Toilet
8. Floors, walls and baseboards
9. Ceiling fans and light fixtures
10. Washing machine
11. Dishwasher

A cordless vacuum leaning against a wall, between a table and a window A cordless vacuum leaning against a wall, between a table and a window

Before you move in, you'll want to vacuum, wipe down and scrub your new home. 

Brian Bennett/CNET

Must-have cleaning equipment

Deep-cleaning your entire home is easier when you have the right tools. CNET puts many products to the test, and these are some of our favorites: 

A women sitting on the floor painting a wall A women sitting on the floor painting a wall

Don't like the color of a room? Paint it. 

The Good Brigade/Getty Images

Paint 

Painting can transform a space. Do you hate that purple dining room or the jet-black bedroom formerly occupied by a teenager? Best to get it done before you get settled. It may not be as intrusive as other major home updates, but you will have to move all your junk to the middle of the room, provided there's space.

Also, paint sprays and splatters, so if you do have belongings in the room you'll need additional protection by way of plastic sheeting or drop cloths. Pro tip: You can paint walls or rooms before doing flooring updates so you don't have to be as concerned with getting paint on your new floors.

Man putting down new hardwood flooring Man putting down new hardwood flooring

If you're going to replace or refinish an existing floor, you definitely want to get that done before moving in.

Getty Images

Replace or refinish flooring 

Everything in your house that isn't attached to a wall is going to take up floor space. If you're going to replace or refinish an existing floor, you definitely want to get that done before moving in. Anyone you hire to do the work will require the affected rooms to be empty, so there's no reason to fill them up beforehand. 

Even if you do the work yourself, you'll need to shuffle your belongings around, and that will drastically lengthen the time it takes to complete the project and make it harder on yourself. 

Plumbing and electric updates

If you're buying a home that is a bit dated and needs major updates to core systems like plumbing or electrical, you might consider getting these projects done before your move. 

If you do have major updates taking place, there's a fair chance the work involved will include cutting out sections of drywall or flooring to make pathways for updated pipes or wiring. The demo and subsequent drywall repairs will create quite a bit of dust, so you'll also likely be painting walls or repairing flooring. 

Man working with a power drill Man working with a power drill

Cutting out sections of drywall can create a lot of dust, which might require you to repaint walls or repair flooring. 

Getty Images

Kitchen remodel

If you're planning on remodeling or renovating your kitchen, it's better to do it before moving in. Going through a total kitchen remodel can upset the day-to-day flow in many ways. Not only will you not be able to prepare food, you also won't have any space to store food, especially if appliances need to be moved or unplugged. You'll need space to store all of your dishes and kitchen gadgets, plus all of the debris and materials for the kitchen renovation will have to go somewhere as well. 

Bathroom renovation

Another inconvenience is a total bathroom remodel. If you have multiple bathrooms, it may or may not be a huge issue depending on how many people live in your home. If you only have one full bathroom, being without it for days or weeks will be a pain. In either circumstance, if you're paying to have the work done for you, it's wise to factor in more time than your contractor estimates and be prepared for limited bathroom space.

An HVAC unit at the CNET smart home An HVAC unit at the CNET smart home

Luckily, replacing major HVAC components isn't usually too lengthy of a process.

CNET

Replace HVAC 

This one can depend on the timing of your new home purchase. Replacing major HVAC components isn't usually too lengthy of a process, nor does it normally require much renovation to other parts of the home. If you live through sweltering summers and arctic winters, you may want to have this work done before moving in so you won't have to expose yourself to extreme temperatures. 

Change locks and install home security 

It's never a bad idea to change out locks on a new home or put home security elements in place before moving in. Changing out your locks ensures the previous owner no longer has access to your home, while home security cameras and video doorbells deter would-be burglars and let you keep an eye on your property no matter where you are. 

Every home is different, so there's no one-size-fits-all rule on security camera placement. Some common places to put them are by front, back and side door. Whatever you do, avoid putting cameras in places that violate your or your neighbor's privacy like bedrooms and bathrooms. If you're still wondering where to put your new security cameras, CNET lays out the best and worst spots for them.

A dog sitting inside a moving box A dog sitting inside a moving box

Make sure to pet-proof your home before bringing in your furry friend.

Catherine Falls Commercial/Getty Images

Child and pet-proofing

Safety can go beyond locks and security cameras. If you have small children, you may want to put child safety devices in place before having them in the home. Likewise, if you have pets, you may need similar safety precautions inside or a fence around your new yard. 

This is also a good time to walk through your home and make sure you know where the main electric, water and gas shut-offs are, as well as any other safety features. This lets you start thinking about your family's home safety plan in case of an emergency. 

To recap, any of these tasks can happen while you're already moved into and living in your new home, but you're likely to be less stressed if you make sure these are checked off beforehand. You'll be much more likely to start off loving your new home than being frustrated with how it's complicating your life. While you're at it, check out this list of tools you'll need for maintaining your new home. Plus, here's how to become friends with your new neighbors and how to turn your new house into a home. 

!function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)(window, document,'script', 'https://connect.facebook.net/en_US/fbevents.js'); fbq('set', 'autoConfig', false, '789754228632403'); fbq('init', '789754228632403');

Want to Donate Furnishings Right before a Go? These 7 Charities Will Pick It Up for Totally free

Shipping furniture to your new position can incorporate hundreds of dollars to your moving invoice -- at times even much more than you compensated for those tables, chairs and whatnot. When the math leans towards the "get rid of it and get a new a single" side of the equation, you have a couple possibilities: Toss out your home furnishings, promote it on Craigslist or Fb Market or donate it to charity. 

Luckily, a lot of charities will manage the pickup for home furnishings donations for free. Everyone wins: You get to declutter your property prior to your shift, and charities can go along the furniture to persons who will need it.

Understand which companies will decide on up your old stuff and what you will need to know in advance of donating.

For far more transferring tips, verify out the most effective going corporations of 2024 and how plastic relocating boxes look at with cardboard.

CNET Moving Tips logo CNET Moving Tips logo

7 charities that provide free furnishings donation pickup

Habitat for Humanity

Operating in much more than 70 international locations, Habitat for Humanity aids homebuyers with property design and mortgage loan charges. At Habitat ReStore destinations, home furnishings donations are sold to assistance fund the get the job done. 

The record of accepted items is a very little distinct at each and every store, but sofas, chairs and bed frames are generally good. To program a pickup, enter your ZIP code to discover your neighborhood ReStore. Some shops have an online scheduler, but you can also connect with them specifically. 

Goodwill

Goodwill is pretty much synonymous with donations, but whether it's going to make residence phone calls is up to every unique locale. You can use the retail outlet locator software to obtain outlets in your region that you can ask about pickups. 

Household furniture Financial institution Community

The Home furniture Financial institution Network isn't really a charity, but a directory of home furniture banking institutions across North The us. You can use its map to find a area home furniture lender in your region that's accepting donations. Just about all of them offer you furnishings pickups, but you may well have to pay a payment.

Salvation Military

A person of the oldest charities providing cost-free donation pickup, the Salvation Army is an evangelical aspect of the common Christian Church. Donated products are marketed in its thrift shops to fund a wide variety of expert services, such as meals and shelter support, catastrophe reduction, and counseling. 

You can plan a pickup with the Salvation Military by getting into your ZIP code on its web page and making a listing of all the things you want to donate. 

Choose Up Remember to

Decide Up Be sure to is a for-financial gain corporation that pays the Vietnam Veterans of America for your donated things. The VVA then employs these money to support veterans of all conflicts with promises guidance, outreach programs and legislative advocacy. 

A single of the benefits of donating to Decide on Up Make sure you is the swift turnaround: It can generally choose up your donation inside 24 hrs. Nonetheless, Decide on Up Please accepts only scaled-down donations, like exercise tools, bikes, business chairs and nightstands. 

The Arc

Devoted to supporting people today with intellectual and developmental disabilities, The Arc has a lot more than 600 nearby chapters around the US, quite a few of which offer totally free home furniture pickup. You can find your local chapter listed here, and simply call or email to check with about donations. Every single chapter has its individual listing of goods it'll consider, but clothes and furnishings in great issue are normally recognized. 

Amvets

Amvets, or American Veterans, is a volunteer-led nonprofit that supports veterans with promises support, wellbeing treatment and work possibilities. Through its community of thrift outlets, it sells donations to fund its systems. You can at this time plan an Amvets home furniture donation pickup in Maryland, Virginia, Delaware, Texas, Oklahoma and in Washington, DC. 

What you want to know about donating your furniture

Timetable your pickup early

For most businesses, the earliest offered pickup day is two or a lot more months out -- specifically during peak summer months relocating months. Make certain to schedule your pickup date as quickly as you know your go date and the goods you will be donating.

Donations are tax deductible

Your home furniture donations are entitled to a tax deduction, but they will have to fulfill a few demands: 

  • The charity you are donating to have to be licensed as a 501(c)(3) corporation. You can glance these up employing the IRS Tax Exempt Corporation Research Instrument
  • In accordance to the IRS, you can get a deduction on your furnishings donations only if the merchandise are in "excellent made use of situation or improved."

After you've verified that your donations are qualified for a tax deduction, you are going to need to have to decide the fair industry value. (The IRS has a beneficial information here.) If you decide that an merchandise is valued at in excess of $500, you will require to fill out Variety 8283 with your tax return. You can also use Goodwill's believed donation values for much more data.

Make absolutely sure your donations are recognized

Really don't believe that a charity will instantly consider anything off your arms. Most corporations have in-depth lists of the kinds of furnishings they're going to accept. 

For case in point, many places would not choose mattresses or box springs. In typical, everything you donate ought to be clear and in very good functioning ailment. As Goodwill clarifies, "Just about every truckload of unacceptable items we acquire to the landfill is equivalent to three days of classroom instruction for anyone whose goal is to get and continue to keep a job."

Donating your furnishings in advance of you transfer is a excellent way to slash down on relocating charges and help out anyone in need. For much more suggestions on how to help save funds through your move, check out out the most effective locations to get shifting boxes for cost-free. 

!function(f,b,e,v,n,t,s) if(f.fbq)returnn=f.fbq=perform()n.callMethod? n.callMethod.implement(n,arguments):n.queue.press(arguments) if(!f._fbq)f._fbq=nn.press=nn.loaded=!0n.model='2.0' n.queue=[]t=b.createElement(e)t.async=! t.src=vs=b.getElementsByTagName(e)[0] s.parentNode.insertBefore(t,s)(window, document,'script', 'https://hook up.fb.net/en_US/fbevents.js') fbq('set', 'autoConfig', bogus, '789754228632403') fbq('init', '789754228632403')

Altus Group Terminates Proposed Acquisition of Situs Group’s Commercial Real Estate Valuation Services Business

Article content

Transaction unlikely to receive regulatory approval in a timely manner; Altus Group maintains focus on organic strategy to enhance consistency and transparency of valuations within the CRE industry

TORONTO, May 17, 2024 (GLOBE NEWSWIRE) — Altus Group Limited (“Altus Group” or the “Company”) (TSX: AIF), a leading provider of asset and fund intelligence for commercial real estate (“CRE”), announced today that it has delivered a termination notice with respect to its previously announced acquisition of Situs Group LLC’s (“Situs”) commercial real estate valuation and advisory services (“REVS”) business. Despite extensive engagement with the U.S. Federal Trade Commission (“FTC”) over the past six months, Altus Group believes that the transaction was unlikely to receive regulatory approval in a timely manner. In connection with the termination of this transaction, Altus Group will pay a US$3 million termination fee to Situs.

Advertisement 2

Article content

Article content

“We are disappointed that we cannot move forward with a deal we believe would benefit all stakeholders and contribute towards our efforts to bring greater consistency and transparency of valuations across the CRE industry,” said Jim Hannon, Chief Executive Officer. “This opportunity would have led to improved compliance reporting of valuations and provided our clients and their investors with deeper insights on the performance of their CRE assets. Moving forward, Altus Group is strongly positioned to execute on our organic strategy to deliver best-in-class valuation intelligence to our clients.”

Altus Group’s Valuation Management Solutions (“VMS”) business boasts an impressive organic growth track record and Altus Group believes it is well positioned to take advantage of its large addressable market opportunity. While the REVS transaction offered exciting opportunities for all stakeholders, Altus Group can deliver on its organic strategy to expand client value through superior asset and fund-level intelligence and new innovative analytics offerings that help clients manage the performance and risk of their real estate assets. The Company’s 2024 technology roadmap includes new analytics capabilities launching this year, including enhancing Altus Group’s portfolio performance and valuation offers with powerful new analytics tools. The Company will continue investing in its VMS business to further enhance its financial profile.

Article content

Advertisement 3

Article content

About Altus Group

Altus Group is a leading provider of asset and fund intelligence for commercial real estate. We deliver intelligence as a service to our global client base through a connected platform of industry-leading technology, advanced analytics, and advisory services. Trusted by the largest CRE leaders, our capabilities help commercial real estate investors, developers, proprietors, lenders, and advisors manage risks and improve performance returns throughout the asset and fund lifecycle. Altus Group is a global company headquartered in Toronto with approximately 3,000 employees across North America, EMEA and Asia Pacific. For more information about Altus (TSX: AIF) please visit www.altusgroup.com.

Forward-looking Information

Certain information in this Press Release may constitute “forward-looking information” within the meaning of applicable securities legislation. All information contained in this press release, other than statements of current and historical fact, is forward-looking information. Forward-looking information includes, but is not limited to, the discussion of the Company’s business, strategies, investment intent and expectations of future performance. Generally, forward-looking information can be identified by use of words such as “may”, “will”, “expect”, “believe”, “anticipate”, “estimate”, “intend”, “plan”, “would”, “could”, “should”, “continue”, “goal”, “objective”, “remain” and other similar terminology.

Advertisement 4

Article content

Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by us at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may not be known and may cause actual results, performance or achievements, industry results or events to be materially different from those expressed or implied by the forward-looking information. The material factors or assumptions that we identified and applied in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to: engagement and product pipeline opportunities in Analytics will result in associated definitive agreements; the size of the addressable market opportunity for VMS, continued adoption of cloud subscriptions by the Company’s customers; retention of material clients and bookings; sustaining the Company’s software and subscription renewals; successful execution of the Company’s business strategies; consistent and stable economic conditions or conditions in the financial markets including stable interest rates and credit availability for commercial real estate; consistent and stable legislation in the various countries in which we operate; consistent and stable foreign exchange conditions; no disruptive changes in the technology environment; and the absence of negative financial and other impacts resulting from strategic investments or acquisitions on short term results; successful integration of acquired businesses; and continued availability of qualified professionals.

Advertisement 5

Article content

Inherent in the forward-looking information are known and unknown risks, uncertainties and other factors that could cause the Company’s actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking information. Those risks include, but are not limited to those described in the Company’s annual publicly filed documents, including the Annual Information Form for the year ended December 31, 2023 (which are available on SEDAR+ at www.sedarplus.ca).

Investors should not place undue reliance on forward-looking information as a prediction of actual results. The forward-looking information reflects management’s current expectations and beliefs regarding future events and operating performance and is based on information currently available to management. Although The Company has attempted to identify important factors that could cause actual results to differ materially from the forward-looking information contained herein, there are other factors that could cause results not to be as anticipated, estimated or intended. The forward-looking information contained herein is current as of the date of this press release and, except as required under applicable law, we do not undertake to update or revise it to reflect new events or circumstances. Additionally, the Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Altus Group, the Company’s financial or operating results, or the Company’s securities.

FOR FURTHER INFORMATION PLEASE CONTACT:

Camilla Bartosiewicz
Chief Communications Officer, Altus Group
(416) 641-9773
[email protected]


Article content

Movie star Interior Designer Jake Arnold’s Latest Business Venture

MILAN — According to superstar go-to inside designer Jake Arnold, true estate, structure and art are the essential components to beautiful houses.

Identified for harmonizing British charm with laid-back again California fashion, the 34-calendar year-aged has seen his reputation rise via his design and style spin on households of the wealthy and popular which include John Legend and Chrissy Teigen, Katy Perry, Rashida Jones and Zendaya, to identify a number of.

Studio Jake Arnold and The Professional, another business he cofounded, has now teamed with New York City-dependent superior-end real estate advisory firm Formal to curate the opening of their Aspen office environment and Aspen retail area and start a new purchaser-facing program, which will kick off in the luxurious ski spot. The collaboration, which was unveiled to WWD Thursday, includes supplying layout assets and accessibility to environment-renowned inside designers, in purchase to help men and women visualize and develop their desire homes in considerably less time and with more effectiveness.

The Skilled, which was established in 2021, is a virtual style and design companies agency that back links clients globally to more than 200 A-list interior designers for exceptional just one-on-one particular video clip consultations. It is also a market with a lot more than 125 makes and a lot more than 5,000 decide on goods. Inside of, the new Aspen space is furnished with The Expert’s possess vintage and contemporary pieces like lighting from Brooklyn lighting studio In Prevalent With and Scandinavian rugs by Nordic Knots. Available art platform Creative Art Companions, which was founded by Brian Ludlow in 2016, was also tapped for the Aspen challenge.

“I was captivated to the way Formal connected the two… It is all about life-style and how they want to see the comprehensive romance blossom from the invest in all the way to somebody executing a attractive home that feels tailor made and special,” Arnold stated.

Jake Arnold

Inside of Studio Jake Arnold’s hottest Aspen job with The Expert, Official and Artistic Artwork Companions.

Jake Heddaeus

In a complicated market natural environment, the Aspen housing industry is outpacing other secondary types, both of those in the rise in property value and in phrases of median value, in accordance to household serious estate brokerage and mortgage origination expert services business Redfin.

In March 2024, Aspen household charges have been up 188.8 % in comparison to past 12 months, offering for a median price tag of $3.8 million. By comparison, in March 2024, Palm Beach, Fla., house prices were up 91.4 p.c in comparison to last calendar year, offering for a median value of $3.4 million. Hamptons property charges inched up 11.5 percent as opposed to very last year, selling for a median price tag of $1.4 million, Redfin described.

“Aspen was a terrific jumping-off pad for this project, where people have or probably will have multiple homes or who are on the lookout at second properties. I imagine individuals in Aspen are alway seeking to acquire things ready to go,” Arnold extra, outlining that his clientele have normally sought his advice on possible serious estate acquisitions to fully grasp how the place can be designed their own. Official ideas to introduce this notion to more new markets, together with the Hamptons and Palm Beach front.  

Official’s chief advancement officer and cofounder Nicole Oge advised WWD that she admires Arnold’s “sense of timeless sophistication and his accomplishment in getting remedies for a discerning clientele. Jake’s layout system, The Expert, was an critical piece of this equation for Formal supplied the organic synchronicity among the property obtaining/selling processes and a client’s need to be related with the greatest designers in the globe.”

Outside of the actual physical layout and decor, The Expert will offer Official’s Aspen clients particular person consultations. This collaboration also includes organizing a calendar of functions customized to Formal agents and their consumers to encourage resourceful conversations, connecting the authentic estate sector with the area art and layout communities.

Official promises it is the initial serious estate organization to specialize in the significant conclusion of the marketplace. The firm at this time operates in key markets including New York, Miami, the Hamptons, Los Angeles, Aspen and Orange County, Calif., and prides alone on its network of highly regarded builders, discerning buyers, and sellers.

Oge claimed that the Aspen market’s whole household revenue surpassed $2 billion in 2023, with an common household selling price nearing $10 million. “It retains the best density of ultra-large internet value persons in the U.S., with a person in every 67 people falling into this group — almost 15 occasions better than New York. On top of that, Aspen has progressed into a thriving cultural hub, further more boosting its attract on the world stage.”

Jake Arnold

Inside of Studio Jake Arnold’s most up-to-date Aspen undertaking with The Expert, Official and Creative Art Associates.

Jake Heddaeus

World-wide-web3, Blockchain Unleash World Real Estate Investment decision Prospective

For yrs, True World Assets (RWAs), these types of as authentic estate, have been cornerstones in world wide portfolios. Nevertheless, the extensive-achieving probable of these protected investments has been hindered by the shackles imposed by worldwide financial devices. Investors have had to wrestle with bureaucratic purple tape, regulatory inconsistencies, and the complexities of setting up asset validity and possession, presenting formidable obstructions to investing abroad.

Having said that, chopping-edge progress in Internet3 and blockchain systems are set to disrupt this conventional model. These innovative applications will permit trustless transactions that bypass age-outdated financial middlemen. Extra importantly, these digital transactions lend unshakeable evidence of possession and asset authenticity, addressing debilitating considerations about credibility.

Follow us on Google Information! ✔️

In essence, we’re conversing about the dawn of an economical, protected, and obtainable platform to explore global investment alternatives. Picture an financial investment ecosystem that facilitates global transactions effortlessly, simplifies economical complexity and beckons traders around the world. Serious estate, now an expense staple, is established to surge with newfound vigor.

World-wide-web3 and blockchain technological innovation retains the energy to completely transform actual estate transactions radically. By clever contracts, transactions will be automated, activated as soon as pre-recognized problems are satisfied, correctly reducing conventional middlemen’s dependence. Present intermediaries, like banking companies and attorneys, commonly guarantee agreement compliance. Nonetheless, Website3’s application guarantees this compliance is automatic, clear, and secured through engineering.

This morphed landscape slashes expenditures and transaction moments, but it also surfaces strategic gains. By minimizing conventional intermediaries, World wide web3 permits a broader demographic to dip their toes in serious estate expenditure – an chance previously confined by economical resources or deficiency of authorized and regulatory experience.

One of the trailblazers in this transformation is the MultiBank Team. Recognizing the prospective electricity of Web3, the firm has leveraged these nascent technologies in the authentic estate sector by means of its subsidiary, MultiBank.io. Adhering to world wide money polices though employing an unassailable method, MultiBank.io assures their transactions are correct, responsible, and irrefutable – supplying a crystal-obvious report of ownership.

Yet another sizeable pioneer building strides in actual estate digitalization is Blocksquare. Utilizing their one of a kind computer software-as-a-services (SaaS) system, Blocksquare turns tangible authentic estate belongings into digital tokens. This ingenuity guarantees operations continue being lawful and scalable, earning home financial investment administration purposely flexible and adaptable. Fueled by ‘tokenomics’ – building an economic procedure exactly where tokens maximize in worth, Blocksquare has properly gathered a $94.8 million tokenized asset portfolio nested in 107 buildings across 21 nations and is primed for the neo-brokerage market.

In this speedily modifying real estate investment decision sector, Blocksquare’s devotion to stability, efficiency, and transparency – facilitated by blockchain giants like Ethereum and Uniswap – establishes a sturdy, reliable electronic actual estate room.

The marriage of Web3 and tokenization will not only make investments a lot easier to acquire, but also totally dissolve the have to have for intermediaries to build rely on. By reworking serious estate into transferable digital tokens, the technological innovation invites an totally new era of investors formerly deterred by geographic hurdles, fiscal constraints, or complex governmental polices.

A shining pillar of this innovative motion is blockchain technological innovation. With its inherent stability and transparency, inconceivable stages of corruption and dishonesty can be thwarted, all the whilst accelerating transactions and optimistically slicing down on costs. As ultra-protected, token-centered ownership transfers start off to swap regular home transactions, the actual estate market place opens up like by no means in advance of, inviting fluidity, adaptability, and vibrancy.

Embracing Web3 and tokenization in the planet of actual estate is not just a mere improvement it is a seismic shift that expands obtain, upswings protection, and amplifies industry response.

This change basically redefines the contours of true estate financial investment, widening participation to a world wide viewers even though guarding the integrity of belongings by means of technological innovation. The consequence? An empowered pool of specific buyers and the potent opportunity to impact broader economic trends, fostering unprecedented marketplace enhancement and balance.

These 7 Major Home Renovations Add Value

Whether you're preparing for a move or simply looking to update your home, remodeling can be a huge undertaking—so it's important to know whether the reward will be worth the effort. Knowing which renovations will yield the highest return for your money is key, so that when it comes time to sell, you can demand a higher price. Ultimately, you'll want to make the best home improvements to add value to your home. Before you decide on a remodel project, evaluate its cost versus its value, and decide if the renovation you want to do is a worthy investment of your time and money. So what renovations offer the biggest impact on a home's value? Six Better Homes & Gardens Real Estate experts weigh in on which projects are actually worth taking on. Here are the best home renovations for potentially raising the resale value of your home.

Helen Norman

1. Create an Addition

As your family grows, why shouldn't your home? Consider building an addition to add major value to your home and increase square footage. Maximize your investment by selecting the perfect materials and details to enhance your home's value and character. "Any kind of physical expansion—whether it's a new bedroom, an extension of a living room, or whatever space you desire—has a huge impact," says Joe Rand, managing partner and general counsel at Better Homes & Gardens Rand Realty. "If you can add square footage to a house, you always add value. Size matters!"

Emily Followill

2. Redo Your Kitchen

The kitchen is the hub of the home, so functionality is a top priority. Remodeling a kitchen can be exciting and satisfying, especially when it's designed to meet your needs and desires. According to the National Association of the Remodeling Industry's 2019 remodeling impact report, Realtors estimate that homeowners can recover up to 52% of the cost of a kitchen upgrade upon selling the home.

"Updating the kitchen with new appliances and bathrooms with new plumbing fixtures may seem trivial, but it's a must," says Brad Carlton, sales associate at Better Homes & Gardens Real Estate Metro Brokers. "Currently, there are many kitchen features that are trending in the Atlanta area, such as wine refrigerators, drawer-style microwaves and dishwashers, commercial-style ranges, and hidden outlets."

Annie Schlecther

3. Renovate a Bathroom

An updated bathroom is a major selling point for any home. When renovating, incorporate sleek surfaces for a sparkling space that makes cleaning a cinch. According to the same report by the National Association of the Remodeling Industry, Realtors estimate that homeowners can recover up to 57% of the cost of a bathroom renovation if they sell their home.

"If a home has only one bathroom or at most a one and a half bathroom, adding a shower to a half bath, or adding a half bath to a living area for guests immediately improves the appraised value of a home," says Jody Steinberg, Realtor, LaVista Hills Team, Better Homes & Gardens Real Estate Metro Brokers.

Helen Norman

4. Update Your Home’s HVAC

Your home's heating, ventilation, and air conditioning (HVAC) are the components that keep everything operating. These are some of the most critical items to maintain. In addition, Realtors estimate that homeowners can recover 85% of the cost of a HVAC replacement if they sell their home.

"Buyers are often taken aback when, upon inspection, a home's heater, air conditioner, and roof are found to be old or in poor shape," says Derek Whitner, Realtor, Team Whitner, Better Homes & Gardens Real Estate Metro Brokers. "Studies have shown that millennials are unwilling to overlook old mechanicals, even if the seller is offering a home warranty as a way to compensate for the age of these systems."

Keller and Keller Photography Inc

5. Amplify Outdoor Living Space

Nothing beats the option of entertaining outdoors. An outdoor living space will make your home a relaxing destination for get-togethers and add major value. No matter your budget, there are plenty of ways to update your backyard, porch, or patio.

"Tap the outdoors for extra living space," says Mary Hutchison, senior sales executive, Better Homes & Gardens Real Estate Kansas City Homes. "In the old days, just about everyone had a front porch or screened-in area to shade themselves from the Midwestern heat, and these classic features are still in demand. A screened-in porch or backyard patio—especially one that includes an outdoor kitchen with a built-in grill and small fridge—makes a wonderful additional entertaining area."

Michael Garland

6. Make Your Home More Accessible

Home renovations should be made with universal design principles in mind. That means creating a space for people of all ages, sizes, and physical abilities. Take careful inventory early in the planning process of all intended users' capabilities, preferences, and tastes.

"If it is possible to make your home more accessible, your home will be more welcoming to guests, more marketable to the largest audience, and best of all, you will be able to age in place," says Steinberg. "Do this by widening doorways, changing a main-level tub to a shower, clearing a path to a stepless entrance, or by adding a door to the back or side of your house."

7. Update Your Light Fixtures

Lighting is one of the simplest renovations that will add value to your home. You'll be amazed by how well-placed pools of warm light can make your home inviting and user-friendly. Consider the design, as well as function, when choosing the right light fixtures for your rooms.

"Updated styles of interior and exterior light fixtures are readily available at big box stores and online retailers for a bit of pocket change," says Robin Wolfram, Realtor/designer at Better Homes & Gardens Real Estate All Seasons-Rochester. "It can provide the big wow factor many homes would otherwise lack. If shopping online, be sure to look for any 'open box' pricing: an undamaged item that was returned simply because someone changed their mind."

Creating stunning Vancouver-area homes a product of teamwork

JHA Architecture + Interior team creates efficient luxury homes with an eye to form and function

Success in a new luxury home build or renovation project is a result of a highly collaborative approach between the client, architects, interior designers and general contractor.

Vancouver architect John Henshaw and his six-member team at JHA Architecture + Interior thoroughly understand the need for cohesiveness between all participants in a project.

As JHA lead interior designer Joy Chao puts it, it’s one thing to design a home or space that looks good conceptually – “on paper” – but if the building contractor isn’t on the same page as those creating the plans, the end result may not meet the client’s expectations or hopes for the project.

“When the contractor really pays attention to the details of the design, not only will the home be built to last, it will also be aesthetically pleasing and have a functionality that is exactly how they want it to be,” she says.

The JHA team has developed a solid reputation around Vancouver and beyond for designing stunning, energy-efficient luxury homes with an eye to form and function. They’ve also drawn on that expertise to create significant upgrades in existing homes, incorporating many modern elements for the homeowners.

John notes that his team has worked hard to create forward-thinking heating and cooling solutions in its project homes, based on the City of Vancouver’s movement toward zero emissions. A current renovation of a historic Shaughnessy property requiring a full upgrade of the heating system will allow the homeowners to reap the rewards of a far more energy efficient home upon completion, he says.

JHA’s architectural and interior design work has received its share of the spotlight, especially when it comes to acknowledgement from its peers.

The company has been winning Homebuilders Association Vancouver (HAVAN) awards for its new home design and renovation projects since 2020.

It achieved finalist status for two such projects for 2024: Best New Bathroom for its collaboration with Teragon Developments & Construction Inc. on the Magnolia Residence, and Best Kitchen Renovation between $100,000 and $150,000, for its Reimagined Richmond Special, a partnership with Feature Projects Ltd.

The team at JHA recognizes the value to their firm in highlighting their attention to detail and quality of design through the HAVAN awards.

“We put a lot of time and effort into the award applications and getting professional photography done,” John says. “It’s a big part of the promotional side of the business and we have dedicated a great deal of time and staffing to bringing it forward.”

Find examples of the company’s work here and more photos of the kitchen renovation award nominee. Follow the latest on Facebook, Instagram and LinkedIn.

Shea McGee’s top tips for living through a home renovation |

If you've ever lived through a home renovation, you will be familiar with the chaos that tends to ensue. Between builders coming in and out of your house at all hours to the inevitable noise that becomes the status quo, it's notoriously a difficult process to get through. And while some get the opportunity to live somewhere else through the worst of the remodel, others are stuck right at home, living amongst the construction.

Luckily, interior designer Shea McGee just shared her top tips to those living through a remodel, from what to expect to how to cope with the worst of the process. And as someone who's led countless renovations (plus lived through many in her own home), there's no one better than Shea to share her advice. And with her tips in mind, you can make the final call on whether you should live on-site when renovating a property. Here's what she had to say.

What to know when living through a home remodel

Stump Reports on Spring 2024 High Point Furniture Market



Charlotte, NC, April 22, 2024-Stump issued the following report on spring 2024 High Point Furniture Market. 

“Following a rainy Thursday and blustery Friday/Saturday, the estimated 80,000 attendees had great southern weather to cruise the streets and visit the 2,000+ exhibitors covering more than 12 million square feet of showroom space. 

“With the pandemic still visible in the rear-view window, we were pleased to see the market busy and elevators full (institutional knowledge of the back stairwells came in handy this year). We heard some griping about poor calendar planning as many high-end exhibitors and attendees were in Milan for the Salone exhibition, and many sports enthusiasts were in Augusta for the Masters or wishing they were on their couch watching Scheffler’s impressive win. 

“We spoke with hundreds of industry leaders and friends, and the challenges facing the industry currently cannot be understated. Many companies are grappling with fundamental business questions and direction. There are certainly some winners in this market - growing and with great margins. Strong players are powering forward investing in people, technology, channel diversification, and more. Weak companies are trying to figure out how to move into a better position to hold out for the return of robust customer demand.

“E-commerce: We heard of a massive influx of new Asian suppliers showing up on the e-com marketplaces, rendering legacy vendors competing with thousands of unknown companies at extremely low prices.

“Tariffs: The 2018 Trump tariffs are ancient history as most importers have shifted to Vietnam, India, or Cambodia. Canada is enjoying protection with their institution of motion upholstery tariffs. Will the USA take this step? Who would champion this effort? And now President Biden is suggesting more tariffs on China. Will this effect furniture?

“Mexico: We have seen several visible exits from Mexico, while others are doubling down south of the border. We continue to believe Mexico has a meaningful role to play in the industry. 

Interior Designers: There is an impressive cohort of 75,000 women and men leading this growing channel, and furniture companies are working hard to access this group in a cost-effective way. 

“Showrooms: We are still seeing a lot showroom movement. ANDMORE is working hard to create density in the under-utilized IHFC building. Right across the transportation terminal, Showplace remains the place to be. We heard many people wondering aloud ‘who will get the Klaussner showroom?!’ Prominently located on the N. Hamilton artery this will be an interesting one to watch. The new Palecek showroom is stunning. EJ Victor is moving to the N. Hamilton area and Stump is working on selling their destination 20,000 sf showroom on Lindsey Street. 

“M&A: Lots of deals out there. Many distressed ones. Some fabulous companies for sale. PE funds are starting to eyeball our industry. Asians and European buyers were prevalent this market, as the USA market is better than their own domestic markets. We are excited about this next season of transactions.”