Archives

Tips

Green Condo Checklist

Green Condo Checklist

What is LEED?

The Leadership in Energy and Environmental Design (LEED) rating system promotes an integrated building design approach grounded in five key LEED® categories: Sustainable Sites, Water Efficiency, Energy and Atmosphere, Materials and Resources, and Indoor Environmental Quality. Initially created by the US Green Building Council (USGBC), the Canada Green Building Council (CaGBC) has since modified the rating system to suit the specific concerns and requirements of buildings in Canada. LEED® is flexible enough to accommodate a wide range of green building strategies that best fit the constraints and goals of particular projects. For more information about LEED® programs in Canada, please visit  http://www.cagbc.org/leed/what/

Buying a Green Condo Checklist

General:

  • Look for recognized green building standards like LEED or BOMA BESt to ensure your condo is built according to verifiable sustainability standards.
  • Are water, electric and gas use individually metered? This results in dramatically increased self-imposed conservation in condo units when compared to common shared heating, electric and gas. Insist on a programmable thermostat and turn it down in the winter and up in the summer.

 Location

  • Is the condo located in close proximity to your place of work? can you walk to work? Is it near public transit? Is the neighborhood cyclist and pedestrian friendly?
  • Does the property include a variety of permeable surface areas like garden, lawn and water features?
  • Does the building include a green roof?

 Water and Energy

  • Are plumbing fixtures water-efficient?
  • Does the condo support the use of renewable energy sources such as wind, solar and geothermal?
  • Are lighting fixtures energy efficient and using compact fluorescent (CFL) or LED bulbs?
  • Is waste-water or run-off water harvested and reused for non-potable uses? Is the outdoor environment landscaped to efficiently use irrigation water?
  • Does the condo support the use of renewable energy sources such as wind, solar and geothermal?
  • Are lighting fixtures energy-efficient and using compact fluorescent (CFL) or LED bulbs?
  • Is waste-water or run-off water harvested and reused for non-potable uses? Is the outdoor environment landscaped to efficiently use irrigation water?
  • Are the included standard fixtures Energy Star® compliant? Are there incentives offered by the condo to purchase high-efficiency appliances?
  • Does the condo incorporate high efficiency windows and doors and are effective blinds pre-installed? Are they properly placed in the design of the condo unit?
  • What ratio of the outside walls are windows? In most buildings, 40% window to 60% wall provides the best balance of insulation and daylight and views.

Sustainable Materials

  • Are the materials used in construction or finishing of the condo such as cabinets, floors and furniture made from renewable resources? Do they have a high recycled content? Have the products been sourced locally?

Indoor Environmental Quality

  • Are the flooring, paint and other finishes non toxic with low volatile organic compounds (VOCs)?
  • How is fresh air delivered to the suites? Is it delivered from the corridor under the doors of the suite, or is it ducted separately to each suite to minimize the risk of odour transfer?
  • Is energy recovered from the air exhausted from the suites (usually bathroom exhaust) before it is released outdoors? This is typically done in a dedicated suite heat recovery ventilator (HRV), or in a central energy recovery ventilator (ERV).

Green Condo Map

http://www.cagbctoronto.org/tools-resources/green-building-map

Greening Your Existing Condo

  • Where possible, replace existing light fixtures and bulbs with modern and energy efficient compact fluorescent (CFL) and LED bulbs to reap significant energy savings
  • Install Energy Star® lighting fixtures and appliances where possible
  •  Turn down your water heater to a reasonable temperature. Do you need near-boiling water on demand at all times?
  •  Install ceiling fans to circulate cool or warm air throughout your condo space. This can be particularly effective within new “loft style” condos with high ceilings.
  •  Use high efficiency LED lighting during the holidays and turn them off when you’re not enjoying them
  •  Use a programmable thermostat to reduce energy costs when you are away or at night when you are sleeping
  • Repair plumbing leaks and conserve water by selecting water-efficient plumbing products like faucets, shower heads and toilets and use less water when possible
  •  Choose natural or sustainable flooring products like FSC certified hardwood floors and non-off-gassing carpeting made from sustainable materials
  •  Institute waste reduction and recycling programs to reduce the costs associated with waste disposal and help to reduce overall waste to landfill
  •  Start a ‘Green Best Practices Committee’ to help your condo corporation and board focus on the greening of the common areas of your condominium

Provided by the Canada Green Building Council

About the Canada Green Building Council – Greater Toronto Chapter

The Canada Green Building Council (CaGBC) is a non-profit national organization formed to accelerate the design and construction of green buildings in Canada. The Council’s objective is to work with its partners in government and the private sector to accelerate the “mainstream adoption of green building principles, policies, practices, standards and tools.”

The Canada Green Building Council – Greater Toronto Chapter (CaGBC-GTC) was the first Chapter of the Canada Green Building Council. It is comprised of leading individuals from government, the building industry, suppliers and professionals, altogether representing the various segments of the design and building industry.

Together, the CaGBC and the Greater Toronto Chapter symbolize the broad interests that are necessary to come together and motivate change in the built environment.

Green Home Checklist

Buying a New Home?

What to look for when selecting your new house

Genreal

  • If it is a newly constructed home, look for recognized green building labels like LEED® for homes, Energystar, Energuide, GreenHouse Certified Construction or R-2000 to ensure the house was built to perform above and beyond building code requirements.
  • If buying an existing home, request an energy audit by a certified evaluator.
  • How big is the house? The best green homes have just enough space and no more!

 Location

  • Look for houses located in communities that offer many amenities at your doorstep. You will save money, gas and time.
  • Is the house located in close proximity to your place of work? Can you walk to work? Is it near public transit? Is the neighbourhood cyclist and pedestrian friendly?

Water

  • Are plumbing fixtures water-efficient? Does it have low volume or dual flush toilets?
  • Does the house have a tankless water heater solution?
  • Is waste-water or run-off water harvested and reused for non-potable uses? Is the outdoor environment landscaped to efficiently use irrigation water?

Energy

  • Does it take advantage of any renewable energy technique?
  • Does the house make good use of natural light?
  • Are lighting fixtures energy-efficient and using compact fluorescent (CFL) or LED bulbs?
  • Are the included standard fixtures and appliances Energy Star compliant?
  • Does the house have high performance windows that prevent air leakage, eliminate moisture damage and provide better insulation?
  • Look for high efficiency furnace that will burn less fuel more efficiently, reducing both heating costs and GHG emissions.

 Sustainable Materials

  • Are the materials used in construction or finishing of the house such as cabinets, floors and furniture made from renewable resources? Do they have a high recycled content? Have the products been sourced locally
  • Is the wood used in the house FSC certified?

Indoor Environmental Materials

  • Are the flooring, paint and other finishes non toxic with low volatile organic compounds (VOCs)?
  • Is the house equipped with Heat Recovery Ventilators which help control the moisture and humidity in the air?

Extras

  • Does it have a garden to provide some food supply?
  • Does it have a green roof?

 

Greening your Existing House

  •  Conduct an energy audit to identify the best opportunities to save and improve your energy efficiency
  • Insulate the attic, electric outlets, pot lights, basement and crawl space. About 20% of energy costs come from heat loss in those areas
  • Install fireplace draft stoppers, attic door covers and dryer vent seals that open only when your dryer is in use
  • Substitute your furnace with a high efficient one
  • Keep doors and windows airtight by weather-stripping and caulking to avoid air leakage
  • Install thermal drapes to decrease heat exchange through windows
  • Replace existing light fixtures and bulbs with modern and energy efficient compact fluorescent (CFL) and LED bulbs
  • Take advantage of daylight harvesting, timers, dimmers and motion sensors
  • Install Energy Star appliances where possible
  • Install a Heat Recovery Ventilator and take advantage of fresher air inside the house
  • Use a programmable thermostat to reduce energy costs when you are away or at night when you are sleeping
  • Repair plumbing leaks and conserve water by selecting water-efficient plumbing products like faucets, shower heads and low flow toilets
  • Choose natural or sustainable flooring products like FSC certified hardwood floors and non-off-gassing carpeting made from sustainable materials
  • Consider buying green power from companies such as Bullfrog Power
  • Become energy independent by installing a renewable energy system in your house such as solar photovoltaic system or a domestic solar hot water system
  • Install a smart meter to help you track your energy usage
  • When renovating, use recycled materials such as Ecopaints and other low VOC materials
  • Install a recycling centre in the kitchen

 

Provided by the Canada Green Building Council

 

About the Canada Green Building Council – Greater Toronto Chapter

The Canada Green Building Council (CaGBC) is a non-profit national organization formed to accelerate the design and construction of green buildings in Canada. The Council’s objective is to work with its partners in government and the private sector to accelerate the “mainstream adoption of green building principles, policies, practices, standards and tools.”

The Canada Green Building Council – Greater Toronto Chapter (CaGBC-GTC) was the first Chapter of the Canada Green Building Council. It is comprised of leading individuals from government, the building industry, suppliers and professionals, altogether representing the various segments of the design and building industry.

Together, the CaGBC and the Greater Toronto Chapter symbolize the broad interests that are necessary to come together and motivate change in the built environment.

Buy or Sell First?

Good question. Unfortunately, like with many good questions, there is no one clear answer. The answer really is: it depends. It depends on your personal preference, the type of home you are selling, the type of home you are buying and the current market conditions.

Option 1) Selling first (preferably with a long closing) and then buying, mitigates the risk of carrying two properties at the same time. But putting your home up for sale before having found your new home can provide uncertainty. What if you cannot find a home you like? If you are looking for an unusual home, this is not practical and you may find yourself leasing in the interim.

However, if you are clear on the type of home, the neighborhood, the price AND you find several places that meet your criteria, then putting your home up for sale first may be your option.

Option 2) Buying first, especially if you are looking for a unique property, can make the most sense. But keep in mind, if you are unable to sell your existing home within the closing period, you may be left carrying the cost of two properties. Bridge financing is available, but the term may be limited.

This option ensures you buy the home you love, but keep in mind, a unique property will be in high demand, so buying conditionally on the sale of your home may not be an option. Are you willing to buy firm (no conditions)?

As you can see, there is merit to both options. You may even find yourself selling first this time and buying first next time. Really…it just depends…

Pricing in Toronto’s Real Estate Market

When preparing to put your home on the market, the goal is (quiet obviously) to get the highest price possible. Perhaps you’ve owned your property for decades, perhaps you’ve invested time and money in improvements like interior updates, additions, or landscaping. Presumably, all the care and attention you have shown your home will be rolled into the cost value in your mind. And while this is all completely reasonable, it is advisable to avoid overpricing your home above all else when putting it up for sale.

Many home sellers reason that they’d like to set the price barrier high and negotiate down from there, but this can be a dangerous move that could cost you some great sale opportunities. Interest in your home will be at its highest when the property is first released on the market (generally within the first week). Home buyers who are serious purchasers will be ready to pounce on new inventory that is well-priced, which could lead to a swift transaction. If the list price of your home is set too high, home buyers and their agents could be discouraged to view it. Later on, as the home sits on the market, you may be required to reduce the price below value in order to drum up new interest.

Remember, the value of your home is determined by what the current market will bear; not what you paid for it originally, or how much you’ve invested in updates. Setting a fair price will attract serious buyers, and if you’re lucky, drum up enough interest for multiple offers.

Courtesy of Chestnut Park Real Estate Limited, Brokerage Blog

The Seller Wants to Change the Closing Date?

Your deal is done, buyer and seller have agreed to all terms, the down payment has been made, and the moving date is set. But your seller gets in touch requesting to change the closing date. What now?

The good news for you is that whether they want to move the date up, or push it back, the final decision is entirely yours. You’ve signed a legal document contingent on the agreed upon closing date and it is up to you how flexible you can or would like to be.

The closing date of your home sale is not an arbitrary thing. The many moving parts of a real estate transaction rely heavily on this date, the adjustment of which can have a domino effect on things such as booking movers, the selling and closing of a previous home, personal timelines like holidays or the first day of the school year, and many more.

Whether it is the seller or buyer requesting the change in closing date, the other party MUST agree to the proposed date adjustment for it to go through. If both parties cannot come together on a new date, the seller in this case must honour the original closing and make arrangements to be out on that day.

If a seller suggests a possible closing date change and you are open to the idea, but you’d like to be compensated for the inconvenience, that is something that can be negotiated through your real estate lawyer and your agent. Depending on how close to the original date the seller would like to reschedule the closing, the upset in your sale might be minimal and therefore easier to accommodate.

Courtesy of the Chestnut Park Blog

RRSP Home Buyers’ Plan

The Home Buyers’ Plan (HBP) is a program under which you can, generally, withdraw up to $25,000 from your registered retirement savings plan (RRSP) to buy or build a qualifying home. Couples, including common-law, will be able to withdraw up to $50,000. However, you must meet the first-time home buyer’s condition.

Home buyers withdrawing funds do not have to pay income tax on the amount withdrawn, providing the funds are repaid into the RRSP within 15 years. NOTE money must be in your RRSP for a minimum of 90 days before a withdrawal can be authorized.

Furthermore, all eligible withdrawals do not have to be included in your income, and your RRSP issuer will not withhold tax on these amounts. However, before you can withdraw the funds, you must have a written agreement of purchase and sale/build for a qualifying home and occupy the home within one year.

 

Air Conditioner Rebate Program

Consumers that replace an inefficient central air conditioner with a new ENERGYSTAR qualified system are eligible for a $500 rebate!

There is also a $50 rebate for having your central air conditioner tuned up by a registered participating contractor, and a $75 rebate on the supply and installation of a programmable thermostat.

For consumer information call 888-668-4636

Tips on Pricing Your Home in Today’s Real Estate Market

The market ultimately determines the true value of your property. Before you compare your home to similar properties and establish a competitive list price, the following points should be considered:

-Location

-Size

-Condition

-Community amenities

-Buyer supply

-Financing Options

A comparative market analysis is an indicator of what today’s buyers are willing to pay for a home. It compares the market activity of homes similar to yours in your neighbourhood. Those that have recently sold represent what buyers are willing to pay. The homes currently listed for sale represent the price sellers hope to obtain. And those listings that have expired were generally overpriced or poorly marketed.

I will prepare a competitive market analysis for your home based on the most current market information. Together, we will establish the proper list price for your home.

Your property is not something you sell every day. In fact, for many people it is their largest asset. A house is very complex to market and the process needs to be well organized. To do the job properly, a plan is needed.

I will prepare a personalized plan for you containing all activities intended to market your property. Your property will be aggressively promoted online, through other Real Estate Professionals, your corresponding real estate board, MLS services (unless it’s an exclusive listing), and mailings to potential buyers in your area.

The single most important decision you will make is determining the right asking price for your property. Once a realistic sales price is achieved, you can count on your property being professionally marketed and promoted to bring more buyers to your door. Pricing your home right means:

-Your property sells faster, because it is exposed to more qualified buyers

-Your home doesn’t lose its ‘marketability’

-The closer to market value, the higher the offers

-A well-priced property can generate competing offers

-Other Real Estate Professionals will be enthusiastic about presenting your property to buyers

 

This post courtesy of Ali Maldoff and Chestnut Park Real Estate Ltd., Brokerage