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Posts tagged with: help

Misconceptions About the HST!

December 2, 2010

Concerned that homebuyers are uncertain about the Harmonized Sales Tax’s (HST) applicability on real estate purchases, Greater
Toronto REALTORS® are reaching out to consumers to eliminate misconceptions.
Using social media channels and an ongoing series of newspaper columns, the Toronto Real Estate Board (TREB) is conveying to consumers that the HST does
not apply to the purchase price of resale homes.
“Although the HST applies to newly constructed homes and professional services associated with real estate transactions, the purchase price of a resale home is
exempt from this tax,” said TREB President Bill Johnston.
Since resale housing was never subject to the Provincial Sales Tax (PST) or the federal Goods and Services Tax (GST), it continues to be exempt from the new
Conversely, newly constructed homes were previously subject to the GST, meaning that the HST now applies. The provincial government however, provides
a rebate of 75 per cent of the PST on the first $400,000 on new homes, to a maximum of $24,000.
“When considering the purchase of any type of home, it is important to budget for additional costs, like the Land Transfer Tax and property taxes. Fortunately
though, the purchase price of a resale home is one area of relief for taxpayers and recognizing that a home is many people’s single largest investment, this
exemption is an important consideration.”

** Toronto Real Estate Board, October 5, 2010

Tagged with: harmonized sales tax hst tax public realtors real estate agent help new homes resale homes real estate

10 Ways to Keep Energy Costs Low this Winter

December 2, 2010

Warm air can leak out of a home from places small, such as electrical outlets, and large, such as picture windows. But there are steps you can take to close those gaps, beyond taping plastic to the windows (although that old standby certainly helps).  And keep in mind: Your utility bill isn’t the only reason to tighten up your home.

“When people are thinking of making these improvements, saving money is a huge issue,” said Andrew Frowine, owner of the energy-auditing firm SaveGreenUSA in Peebles, Ohio. “But it’s not the only one.  For many people, the compelling thing is to make the home comfortable.”

Here are 10 ways to help keep the cold air out and the warm air in this winter:

1. Seal or weatherstrip doors and windows ($5 to $40)

There’s a reason this is the fall-back winterizing technique: Bad windows and door seams can pull warm air out of your home like a vacuum. Several manufacturers offer caulk or foam weatherstrips for doors and windows.

2. Insulate pipes ($2 to $5)

Heat can leak out of hot-water pipes just as it can leak out of drafty homes. Reduce water-heating bills by wrapping hot-water pipes in foam pipe wrap.

3. Insulate outlet covers ($1 or less per outlet)

Outlets and switch boxes on exterior walls aren’t huge sources of heat loss from a home, but they are easily overlooked and easily remedied. Most hardware stores offer inexpensive foam insulating plates that slip discreetly under the existing plate to reduce the loss.

4. Replace the furnace filter ($8 to $12)

A clean furnace filter might not make your home warmer, but a dirty one will make your furnace work harder, jacking up your utility bill. (The price is for conventional filters; electrostatic filters, which can last years, cost more.)

5. Block the chimney effect ($50 to $2,000)

Even with the flue closed, a chimney can continue to suck air out of the house. There are two quick ways to seal the leak: Properly installed glass doors — ideally, with airtight doors — can stop much of the loss, although they can be expensive. A far cheaper alternative is a chimney balloon or plug, which inflates to block the air loss — although it must be removed when the fireplace is in use.

6. Install a programmable thermostat ($25 to $100)

No need to leave the heat blasting when you’re gone all day or sleeping all night. A programmable thermostat allows you to control the temperature and save money (the EPA estimates $180 a year) without feeling the chill.

7. Install thermal window coverings ($10 to $500)

Thermal-backed drapes or quilted drapes might not be the most stylish feature of your room, but they don’t have to look hideous, either — and they can dramatically reduce the amount of heat lost through your windows.

8. Install a ceiling fan ($100 to $300)

A ceiling fan can help warm, as well as cool, a room, which can be especially valuable if the home has high ceilings, where heat gathers. Most ceiling fans have switches that reverse the direction of the blades, so the fan can gently pull cool air up and push warm air down. Look for Energy Star-rated fans, which will use less juice.

9. Add attic insulation ($50 to $100)

Experts recommend at least 30 centimetres (12 inches) of insulation, so if you can see your ceiling joists, you don’t have enough. Blown insulation is best over existing insulation but requires a blower. (Some retailers will provide a blower free if enough insulation is purchased.)

10. Wear a sweater (Free)

This standby requires no professional installation, is portable and fits like a glove. Best of all, it can already be found in your closet.

Sources: SaveGreenUSA; Conservation Services Group; Lowe’s; Family Handyman; Energy Star Program


Tagged with: energy money savings real estate hydro heat help

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