About Hamilton Wentworth County, ON

Furnace upgrade not mandatory, but will save you money

Home Efficiency Q&A:

(NC)-Here's the answer to a frequently asked question, courtesy of Dave Walton, director of home ideas at Direct Energy:

A: The new standard, which applies to new purchases only and goes into effect December 31, 2009, will require all new gas furnaces meet a minimum efficiency of 90%. It does not require that existing furnaces be upgraded until homeowners make the decision to do so. But there's more:

• Upgrade benefits - Upgrading from a 17-year-old furnace, to a new high-efficiency furnace is going to save money on gas bills and also help the environment. This new standard is part of a federal initiative to reduce greenhouse gases and raise energy efficiency standards for Canadian homes, old and new.

• Savings - An older "conventional" furnace operating at 60% or less efficiency can waste 40 cents of every dollar. Upgrading to a high efficiency gas furnace, for a home spending $1,000 per year on heating, could result in savings as high as $300. Many high-efficiency furnaces are eligible for government rebates. The savings on the initial furnace purchase means payback becomes even quicker.

A high-efficiency furnace provides the homeowner with years of increased energy efficiency, quieter operation, better air circulation, and save a few cents every time the thermostat is turned up. More information is available online at www.directenergy.com or toll-free at 1-888-334-8221 1-888-334-8221.

courtesy of: newscanada

Visit www.LisaTollis.ca for more information about Real Estate & Listings in the Ancaster-Hamilton-Burlington Ontario and All of the Surrounding Areas.

Lisa Tollis SRES.
Sales Representative
Seniors Real Estate Specialist
Royal LePage State Realty, Brokerage.
Hamilton Ontario
Office: 905 574 4600
Toll Free: 1 877 574 4601
www.LisaTollis.ca

Affordable upgrades for every homeowner

(NC)-With all the government grant opportunities available today for home renovations, homeowners have been able to carry out their planned home improvement projects. While some homeowners have used the opportunity to improve the aesthetic qualities of their homes, others have focused on long-term investments such as improving their home's energy efficiency.

"Home renovations that help improve the energy efficiency of a home don't need to be difficult or costly," says Cheryl West, an insulation expert at Owens Corning. "Energy efficiency and energy cost savings can be achieved through simple do-it-yourself projects such as insulating your attic and topping up on the amount of insulation you already have in place."

If you're interested in improving the energy efficiency of your home, but haven't considered an attic re-insulation project, here are a few answers to some important questions.

The recommended insulating standard for attic insulation is R-50. To achieve this, you'll need to top up on your existing attic insulation until you have at least 15 inches of batt insulation. Visit your local home building supplies store and ask about PINK FIBERGLAS Batt Insulation, which is easy to install and provides optimal thermal resistance.

Insulating your attic can help you save on your monthly heating and cooling costs by up to 28 per cent*. Not only can you help save on energy costs, you can also help save a half ton** of greenhouse gas emissions annually when you insulate your attic to R-50.

Many government incentives available today can be combined to help homeowners significantly offset their home improvement expenses. The Home Renovation Tax Credit (HRTC) provides a 15 per cent non-refundable tax credit on eligible home renovation costs up to a maximum of $1,350. Natural Resources Canada offers the ecoENERGY Retrofit Rebate that helps save homeowners up to $750 when they insulate their attic. In addition, there are also matching rebate programs at the provincial and municipal levels to even further your rebate amounts.

Learn more about the HRTC and how to insulate your attic by visiting www.insulationtaxcredit.ca and www.actionplan.gc.ca. More details on the ecoENERGY Retrofit Program and other available government grants can be found online at www.oee.nrcan.gc.ca.

courtesy of: newscanada

Visit www.LisaTollis.ca for more information about Real Estate & Listings in the Ancaster-Hamilton-Burlington Ontario and All of the Surrounding Areas.

Lisa Tollis SRES.
Sales Representative
Seniors Real Estate Specialist
Royal LePage State Realty, Brokerage.
Hamilton Ontario
Office: 905 574 4600
Toll Free: 1 877 574 4601
www.LisaTollis.ca

Affordability Guide

How much can you afford?

This depends on a number of factors. The most important are your gross household income, your down payment and the mortgage interest rate.

The first affordability rule is that your monthly housing costs shouldn't be more than 32 percent of your gross monthly income. Housing costs include monthly principal, interest, taxes and heating expenses (p.i.t.h.). If applicable, it also includes half of monthly condominium fees. Lenders add up these housing costs to determine what percentage they are of your gross monthly income. This figure is your GROSS DEBT SERVICE RATIO (GDSR).

The second affordability rule is that your entire monthly debt load should not be more than 40 percent of your gross household monthly income. This includes housing costs and other debts such as car loans and credit card payments. Lenders add up these debts to determine what percentage they are of your gross household monthly income. This is your TOTAL DEBT SERVICE RATIO. (TDSR

About the Down Payment

A mortgage is security for a loan on the property you own. It is the difference between your purchase price and your down payment. The greater the down payment, the less you have to borrow, and of course, the smaller your monthly mortgage payment. A few options of down payment include your savings or a non-repayable gift. There are other options available to you and this can be discussed with your REALTOR®.

Other Costs to be Aware of when you Buy

This is a list of possible extra costs involved in buying a home. Some of them are one time costs and others, such as condominium maintenance fees and property insurance, will be ongoing monthly expenses. THE GOOD NEWS IS THAT NOT ALL OF THESE COSTS MAY APPLY IN YOUR CIRUMSTANCES.

Visit www.LisaTollis.ca for more information about Real Estate & Listings in the Ancaster-Hamilton-Burlington Ontario and All of the Surrounding Areas.

Lisa Tollis SRES.
Sales Representative
Seniors Real Estate Specialist
Royal LePage State Realty, Brokerage.
Hamilton Ontario
Office: 905 574 4600
Toll Free: 1 877 574 4601
www.LisaTollis.ca

That the Multiple Listing Service, MLS.ca Is Now Realtor.ca!

Thats Right!

But Don't worry!
The website is still the same with exception of a few minor changes, you will still be able to search for your next home the same way you always have been. Check it Out! Click the Realtor.ca Logo and begin your Search.

Visit www.LisaTollis.ca for more information about Real Estate & Listings in the Ancaster-Hamilton-Burlington Ontario and All of the Surrounding Areas.

Lisa Tollis SRES.
Sales Representative
Seniors Real Estate Specialist
Royal LePage State Realty, Brokerage.
Hamilton Ontario
Office: 905 574 4600
Toll Free: 1 877 574 4601
www.LisaTollis.ca

Affordability Guide

How much can you afford?

This depends on a number of factors. The most important are your gross household income, your down payment and the mortgage interest rate.

The first affordability rule is that your monthly housing costs shouldn't be more than 32 percent of your gross monthly income. Housing costs include monthly principal, interest, taxes and heating expenses (p.i.t.h.). If applicable, it also includes half of monthly condominium fees. Lenders add up these housing costs to determine what percentage they are of your gross monthly income. This figure is your GROSS DEBT SERVICE RATIO (GDSR).

The second affordability rule is that your entire monthly debt load should not be more than 40 percent of your gross household monthly income. This includes housing costs and other debts such as car loans and credit card payments. Lenders add up these debts to determine what percentage they are of your gross household monthly income. This is your TOTAL DEBT SERVICE RATIO. (TDSR

About the Down Payment

A mortgage is security for a loan on the property you own. It is the difference between your purchase price and your down payment. The greater the down payment, the less you have to borrow, and of course, the smaller your monthly mortgage payment. A few options of down payment include your savings or a non-repayable gift. There are other options available to you and this can be discussed with your REALTOR®.

Other Costs to be Aware of when you Buy

This is a list of possible extra costs involved in buying a home. Some of them are one time costs and others, such as condominium maintenance fees and property insurance, will be ongoing monthly expenses. THE GOOD NEWS IS THAT NOT ALL OF THESE COSTS MAY APPLY IN YOUR CIRUMSTANCES.

Visit www.LisaTollis.ca for more information about Real Estate & Listings in the Ancaster-Hamilton-Burlington Ontario and All of the Surrounding Areas.

Lisa Tollis SRES.
Sales Representative
Seniors Real Estate Specialist
Royal LePage State Realty, Brokerage.
Hamilton Ontario
Office: 905 574 4600
Toll Free: 1 877 574 4601
www.LisaTollis.ca