About West Central, SK

Saskatchewan is expected to lead the country with an economic growth rate of 2.9 per cent in 2010, according to the average of nine leading economic forecasters.

After ending 2009 with a new record population and the lowest unemployment rate in Canada, Saskatchewan is forecast to start the next decade with the strongest economic growth record in the country in 2010.

Saskatchewan Enterprise Minister Ken Cheveldayoff says while Saskatchewan was not immune from the economic downturn in 2009, it came through the recession very well compared to other provinces.

Cheveldayoff noted that Saskatchewan had positive job creation in 2009 while most other provinces were losing jobs. Saskatoon and Regina had the two lowest unemployment rates among Canadian cities. Saskatchewan's population hit an all-time high and is growing at its fastest pace in over 50 years. There are more people and more jobs in Saskatchewan. People are earning more, and they are keeping more of what they earn, thanks to lower income and property taxes. All things considered, 2009 was a strong year for our province and its people, and 2010 should be even better. And Saskatchewan is expected to lead the country with an economic growth rate of 2.9 per cent in 2010, according to the average of nine leading economic forecasters. Saskatchewan had the best job growth rate in the nation in 2009 and the lowest unemployment rate in Canada for the last six consecutive months. Record-setting population numbers and stellar job growth are two important components in a strong economy. We are also seeing some good news on the construction front, which indicates a fair amount of optimism for business and consumers. Construction sites were busy this year, with October building permits in the province showing the highest percentage increase in the nation. Urban housing starts for November were also positive, reaching some of the highest levels in decades. Ken Cheveldayoff "I know that as we enter this new decade, we can reflect on the many success stories in the Saskatchewan economy and look forward to even better prospects in our future!"

2009 - Early 2010 Construction Scheudle:

Start of Building 12 (3/4 non-contingent) leaving one available spot: October 15, 2009

Start of Building 13 (2/4 non-contingent) leaving two available spots: December 1, 2009

Start of Building 22 (2/4 non-contingent) leaving two available spots: January 22, 2010

Start of Building 8 (2/4 non-contingent) leaving two available spots: March 1, 2010

If you are interested in one of our homes, please visit: www.EpconColumbia.com

So, you've just become a new homeowner, or you're thinking of becoming one..... now, what is it going to cost to maintain it?

First, there's the one per cent rule, which claims that normal maintenance on a home is about one per cent of the value of the home per year. This means that a $250,000 home would cost about $2,500 per year to maintain. This would cover normal replacement of worn out components such as a failed water tank one year, roof repair another year, and the furnace the next.

Then there's the three per cent rule; some experts say that home buyers should plan on spending three per cent of the value of the home in the first year. This is because new homeowners will likely purchase blinds and/or drapes, change some or all of the decor and maybe buy some appliances.

A Home Inspection (before you buy) will give you an idea of what is wearing out and what will last for a while. For example, because the high efficiency furnace was installed a just a year ago, you likely won't be buying a new furnace for at least 15 years, since they last, on average, 15-20 years. Or you know the shingles have never been replaced, they're looking a little rough and the house is 18 years old; count on getting up on the roof (or hiring someone) in the next year or so. Asphalt shingles last approximately 12 -20 years. This is not a reason to not buy the house, not a defect, just a something to be aware of.

Here are the typical life cycles of the most common home components:

• Furnace > 15-20 years
• Air conditioning system > 12-15 years
• Water tank > 12 years
• Sink garbage disposal > 10 years
• Appliances > 12-20 years (varies substantially)
• Asphalt shingles > 12 - 20 years
• High-end asphalt shingles > 20-30 years
• Cedar shingles > 20-35 years
• Garage door opener > 10-15 years

Care and maintenance is the key. Generally anything will last longer if it is not abused, kept clean and dry, and used only for the purpose it was intended.

Mortgage rates are at their lowest in years. Here are a few issues to consider, whether you are taking a new mortgage on a home purchase, or re-newing your mortgage term.

You want to make sure you get the best interest rate. If you go to the financial institution you are currently dealing with, you will most likely be quoted the "posted rate". This rate is generally up to 1% higher than you should have to pay. Doing some competitive market research before hand can be helpful to negotiate a better rate.

Open vs Closed Mortgages

When selecting a mortgage, you can choose to pre-pay it in part of full at any time without any penalty. This is called an "open" mortgage. You pay a slightly higher rate for an open mortgage, as the lender has no certainty if you will pay it off before the end of the term. Alternatively, you can lock a mortgage for a period of time at the same rate, e.g. for 3 or 5 years. This is called a "closed" mortgage. If you pre-pay a closed mortgage before the term is over, you will have to pay a penalty.

Fixed vs Variable Interest Rate

When you take out a mortgage, it could be at a fixed interest rate for the duration of the term, e.g. 5% for the 5 year term, or it could be at a variable rate. This is generally set at the prime bank rate or below that, and can vary weekly based on any change in the prime rate. Generally, a variable mortgage is lower than a fixed mortgage. Some people prefer rate certainty for the term so they can budget accordingly. Others prefer to monitor mortgage rates and convert to a fixed rate mortgage if the rates start going up.

Monthly Payments vs Accelerated Mortgage Payments

Many people routinely pay their mortgage payments monthly. However, if you pay more frequently than that, e.g. every 2 weeks or every week, your savings on interest over time is phenomenal.