Control Home Security with your Smartphone

Imagine the convenience of disarming your alarm system while in your driveway, or checking in on your teenagers or your pet while you're out of town? With today's new interactive services all this is possible and more.

Through cutting edge technology from leading security companies such as Reliance Protectron and their myprotectron.com portal system you can control your home security system from anywhere via the web or your smartphone, including arming and disarming your alarm, locking or unlocking your front door, controlling lights and appliances as well as your home's thermostat from a distance.

“You can even have video surveillance and be alerted to view the comings and goings of cleaning staff or house sitters on your phone, according to Patrice De Luca, VP of Marketing and Customer Care for Reliance Protectron Security Services. “Its powerful functionalities make this the most advanced home-security technology available—and at a very attractive price.”

In addition to Protectron's state-of-the-art monitoring services, myprotectron.com interactive home security services lets you have full control over your system with a wealth of monitoring and home automation tools. For example, you can get real-time updates on doors and windows, watch live and recorded video feeds, and review “event histories” for when your kids get home from school or when cleaning or maintenance crews come and go.

All this control is accessible by logging in to your myprotectron.com account from your personal computer, BlackBerry, Android, iPhone app or any web-enabled device.

The interactive security system requires no landline or Internet connection; instead, the signal from your security system travels wirelessly using a dedicated, encrypted and secure connection. When trouble strikes, it interacts with Protectron's monitoring centres to send out an immediate response. So unlike traditional security alarm systems that rely on a telephone line, it works in every home and can't be defeated by a burglar snipping or tampering with the wire.

“The interactive system features a state-of-the-art colour touch-screen interface, GSM (cellular) transmitter (radio), integrated two-way voice, along with the built-in Z-Wave RF transmitting protocol, making it the most advanced home-security technology available,” added De Luca.

The system will keep you updated on anything you want to know about the security of your property while you're away with email or text message alerts when specific sensors are activated giving you unprecedented control over the security of your home or business. More information and instructional videos on protecting your home on the go is available online at www.protectron.com.

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Closing Day Preparations

Closing day refers to the date mutually agreed to by the seller and buyer for the transfer of funds, title and the keys (usually). This can be a stressful time for both parties considering that this may be the largest sale or purchase of a lifetime. A few essential preparations can make the transaction flow smoothly. 

Buyer Preparations 
The buyer must review the closing statement carefully and double-check the calculations. Review the lender, title and escrow fees to ensure that what was discussed is accurately reflected in the documentation. 

You should also review the exact legal description of the property and any liens, encumbrances or other items which may have been discovered in regard to the property. Also ensure that the title or escrow agent has the correct title on the deed. Correcting a vesting on a deed later can be time consuming. 

Buyers should also arrange to re-inspect the property just prior to closing. This can avoid any nasty surprises on moving day. On or after closing day, buyers have less leverage to demand that repairs or other promised changes actually be completed. If the seller promised to paint a fence or empty the pool you have a right to insist that these be done. 

Before signing your name to any closing document be sure that the interest rates, miscellaneous fees and the condition of the property are all what you agreed to. Honest mistakes have been known to happen but these mistakes can be costly. 

Seller Preparations 
Whenever possible avoid closing on a Friday, at the end of the month, or before long weekends. If anything goes wrong the banks will be closed. For example, if you are retiring your mortgage you may face addition interest adjustments if the funds reach the lender too late on a Friday afternoon. The seller may be faced with three extra days of interest (four days over a long weekend!). 

Don't forget your utilities. Depending on your jurisdiction, the buyer's lawyer or notary will contact the local water, electricity and gas companies to have the meters read as of closing day. However, it may be your responsibility so check with your real estate agent or lawyer beforehand. This avoids any gaps in service for the buyer and extra expense for the seller. 

Most other services into the home are the responsibility of the seller. At least a week before the closing date, contact your cable television, telephone and Internet service provider if you have one. Terminating service on or just before closing day can save you additional charges. Adjustments There are also several adjustments to consider. These are designed to settle any expense incurred (or income earned on rental properties) by either you or the buyer as of the day of closing-which is what both parties want. Municipal property taxes, school taxes, monthly condominium fees, utilities, and fire insurance (plus sales taxes) are all common expenses that need to be adjusted at closing. 

Any expenses you have prepaid before closing day are pro-rated, with the buyer reimbursing you for the period during which you no longer own the property. Expenses that have not yet been paid, but which apply to the time during which you owned the home are similarly pro-rated and reimbursed to the seller. 

If the buyer assumes your mortgage, the outstanding principal plus accrued interest and any funds held in your tax account are also adjusted for, as are first and last month's rent on rental properties. 

Closing day need not be worrisome if both parties plan ahead and review all paperwork carefully. In fact, with enough preparation, closing day should be the beginning of a new chapter for buyer and seller in their new homes.

www.realestate-hamilton.ca

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Thinking of Building a New Home?

Finding the perfect combination of house and location can often be a challenge. Perhaps you have found a lot with a lovely view, privacy and mature vegetation. The only problem is the house. The World War II-era foundation is cracked, the kitchen is the size of a closet and none of the bedrooms will accommodate your furniture. Rather than passing up the purchase, consider whether it is feasible to renovate or rebuild. Once you have done a careful analysis of the renovation costs, it’s time to weight them against the costs and benefits of rebuilding from the ground up.

One of the greatest benefits of building a new home is freedom of choice. You can choose the size, layout, style and other features of your home. As you write your wish list, consider these factors:

Size: Will you be adding to your family with children or accommodating elderly parents? If so, anticipating future needs will ensure your home will be suitable for years to come. However, keep in mind that size directly affects the cost. Most builders provide a price based on square footage. As well, there are long-term expenses: a large home will cost more to heat, light, cool and furnish. If you choose a large square footage, consider building upwards rather than outwards to minimize the size and cost of the foundation.

Style: Although new home construction is an opportunity to express your individuality, be careful about venturing too far from the norm. A cutting-edge design may be difficult to sell in the future. Also, consider the styles in the neighbourhood. For example, you may not recoup the costs of building a high-end, 4,000-square foot home in a neighbourhood of moderately priced bungalows. Shape: Be aware that the shape of a home can affect the cost of construction. A rectangular or square home is the least expensive to build. The more angles and corners, the more labour and materials will be required.

Materials: Energy efficient materials and building techniques can substantially reduce heating, cooling and lighting costs over the long run. Technology is constantly improving and you may be pleasantly surprised at the current ‘pay back’ on some items. Solar water heaters pay for themselves in 8-10 years and, considering that they have a lifespan of approximately 25 years, you can enjoy 15 years or more of free water heating! Can you think of any building materials that are dropping in price? Solar panels are one of the very few. Increased consumer demand has resulted in a reduced cost-per-unit. This gives homeowners more incentive to use solar panels to supplement their energy needs and/or provide emergency power. There is also a wide range of energy-efficient options in flooring, insulation, roofing and windows.

Mobility: If you would like to spend your retirement years in the house, design with mobility in mind. This means creating the space to accommodate a wheelchair or walker. Traditional bathrooms and kitchens are too small to allow someone in a wheelchair to turn around. The Canadian Housing and Mortgage Corporation recommends allowing a manoeuvring space of 75 x 120 cm (30 x 47 in.) in front of or beside all fixtures including the bathtub, shower and storage spaces. Pocket doors save space within the bathroom. Countertops in the bathroom and kitchen should be lower than traditional at 86 cm (34 inches) to 91 cm (36 inches). Single lever taps are the easiest to use by someone in a wheelchair and anyone with arthritis.

Site Characteristics: Building on a flat lot usually costs less than building on a slope. Costs will increase if the builder needs to remove large trees or rocks before laying the foundation. Types of Plans Custom home plan This option typically requires the assistance of a licensed architect and an experienced contractor. However, your vision is essential to the process. Consider using design software to help you work out the details. It allows you to express your ideas in a format that is much clearer to the architect than handmade drawings! Ideally, purchase software that is compatible with your architect’s professional design programs.

Even with the assistance of technology, your design may require some adjustments by an architect particularly in terms of structural soundness. For example, the frame must be able to support the weight of the roof and an upper floor (if applicable) and withstand a certain level of vibration (such as in a minor earthquake). An architect may also be able to suggest cost-savings such as designing in two-foot increments to reduce lumber waste since lumber is usually sold in two-foot increments. Once the architect has completed the design, you will need to hire a building contractor who will coordinate the work of framers, electricians, plumbers and other tradespeople. Be sure to check references when selecting a contractor. Get the project scope, responsibilities, cost and timelines in writing.

Lastly, communicate with your contractor frequently and, ideally, at the worksite. Existing house plan Today, you can choose from thousands of home plans. Catalogues of plans are available for sale at most bookstores and on the internet. Once you find a home design you like, you can purchase the blueprints and other information that a contractor will require. Pre-fabricated homes This option promises to be faster and easier than starting ‘from scratch’. When you order one of the ‘pre-fab’ home plans, the manufacturer delivers the blueprints, pre-cut lumber, windows, doors needed to complete the home. Packages vary by manufacturer so carefully read the details and ask for a list of references.

If, in the end, you decide to build a new home, you are embarking on an adventure that will reward you for years to come.

www.realestate-hamilton.ca

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Finding a Rental in Hamilton

According to the most recent rental market information released by the Canada Mortgage and Housing Corporation (CHMC), rental vacancy rates have fallen across the country creating new opportunities for homeowners.  At the same time, economists and government officials are predicting economic improvement, which in turn is expected to nudge up mortgage rates.   Rental income may become a financial necessity for many households while also providing needed housing.

Regardless of statistics, many homeowners will continue to add secondary and garden suites for personal reasons.  A suite can allow ageing parents to be part of the family and enjoy extra care and assistance when needed.  Illness or accident can also create the need for wheelchair accessible housing for family members.  The federal government provides some financial compensation for this type of construction (http://www.cmhc-schl.gc.ca/en/co/prfinas/).  Another common reason for adding a suite is simply to accommodate a growing family.  Building an addition in the form of a suite creates space for a child or children now and perhaps a renter in the future.

Investing in a self-contained rental suite can be an expensive and time-consuming endeavour so it is wise to build for the long-term.  Quality materials and design will add to the comfort and longevity of the unit and may justify higher than average rent.  Lighting, flooring and layout are key considerations.  Since many suites are constructed in basements or rooms that are partially below ground, proper drainage and a good subfloor structure can avoid flooding and uncomfortably cold floors.  Adequate insulation, particularly in the ceiling and common walls, will give both parties privacy. 

Aside from appearance and comfort, homeowners need to consider municipal guidelines for secondary and garden suites.  Meeting these guidelines can help to avoid bylaw infractions and also allow homeowners to market their suite as a “legal suite”, which is generally more appealing to renters.  Insurance companies should also be informed of the rental unit to avoid costly coverage lapses in the event of a flood, fire or other type of accident.  

These important tips will help to protect the financial and physical health of both renters and owners:

·         The height of the rooms should meet provincial building codes regulations

·         If there are bars on the windows for security, these must be able to be removed or opened from the inside without tools or special knowledge in event of a fire

·         Handrails and guards are needed on stairways as outlined in provincial building codes

·         There must be at least one exit leading directly to the outdoors

·         Occupants of secondary suites must be able to control the temperature of their unit

·         A furnace must be separated from the rental unit with a wall

·         There must be one smoke detector for each 300 square feet of space (this varies by municipality)

·         Carbon monoxide detectors are necessary in suites with fireplaces or those heated by wood-burning stoves or gas furnaces

·         Landlords should provide tenants with instructions on testing smoke detectors and carbon monoxide detectors

·         The walkways to the suite should be well light and kept clear of snow or other hazards

Once a secondary or garden suite is constructed or renovated, it can provide many years of extra income for relatively little effort.  Quality materials and design can help to ensure that the suite remains rented even as vacancy rates fluctuate.  A unit in a neighbourhood close to amenities, work centres or a college or university will almost always be in demand.

www.realestate-hamilton.ca

May Mortgage Rates

Mortgage rates current as of May

Current Discount Mortgage Rates	May 2013
Variable Rate	2.79%
1 Year	2.74%
2 Year	2.69%
3 Year	2.79%
4 Year	3.09%
5 Year	3.39%
7 Year	3.59%
10 Year	3.89%
Prime Rate	3.00%
* Rates subject to change and OAC.

www.realestate-hamilton.ca