Add Value to Your Home

Home repair and remodeling projects vary in how much they increase the home’s value per dollar spent on the project. Some homeowners are desperately trying to increase the home’s value before putting it on the market to get a better sale price, while others just want to strategically build equity in the home over time. Either way, stick to the projects with the best return in home value.

Kitchen Remodel

Buyers care more about the kitchen than any other room in the house. Even if you plan to be in your home for a few more years before selling, remodeling the kitchen now will still increase the home’s value significantly, plus you will get to enjoy the more modern kitchen. Some common projects include replacing fixtures, getting new countertops, adding an island and replacing or refinishing cabinets. On average, every dollar spent on modest kitchen remodeling increases the home’s value by 80 to 85 cents. In some real estate markets, the remodel can have an even larger effect.

Bathroom Remodel

Modest bathroom remodels have a fairly good return in home value on the money spent on the project. Adding a second bathroom to a house with only one bathroom can increase the home’s value by up to $1.50 for each dollar spent, according to Parade. Smaller projects, such as replacing the lighting, faucets, wallpaper, bathtub and vanity countertops, add 80 to 85 cents per dollar spent, on average.

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How to Find the Right Builder

Where To Look

The first piece of advice anyone will give you is to go for personal recommendation, but there’s more to do than simply getting a name from a neighbour. Talk to people locally who’ve had building work done recently – especially on a house of a similar age, and on a project of a similar size, as this will help you track down someone with the right expertise and an appropriate size of firm. If you are using an architect for your project, they may also have recommendations.

#1 Interview several builders. Ask an architect for recommendations. If a real estate agent assisted you when you purchased your lot, ask the agent for several recommendations. Also consult friends and neighbors.Once you’ve assembled some likely candidates from reliable sources, ask at least three builders for a written quote. The more detailed you can be at this stage about what you want done, the more accurate the quote will be. This is obviously easier if you already have architect’s plans or drawings you submitted if you had to obtain planning permission. Be clear about what needs to be included as well as the job itself: materials, taking away rubbish and so on.

#2 Review your completed plans with each builder, or ask the builders about designing plans for you.You should also ask for at least three references from each builder. You need to take the time to follow these up, and if possible, pay a visit to check the quality of the job. Ask plenty of questions about the builder’s work and how the project went, as you may find out details that’ll be much more useful than a general, ‘Yes, it all went fine.’

#3 Make sure that all the builders see the building site and are quoting to build the house on that site, including excavation and any other site-specific costs. You should also make sure that each builder you ask to quote has appropriate liability insurance – ask to see the certificate.

#4 Get price quotes from the builders and compare them, making sure that they each bid on the same items.It’s also important to ask about payment terms. If they ask for a deposit, be wary. However, it is normal for larger projects if they ask to be paid in installments as each stage is completed.Deposits are usually only payable where specific or custom-made materials are required or where the project will take a long time to complete. Otherwise, avoid paying deposits, and agree any payment schedule in writing.

#5 Ask for references--particularly previous customers--from each party. Check the references. Be sure to speak with them when the builder is not present. Look at some of the houses the builder has constructed.If possible, start by getting a referral from family or friends who have recently had work done.

#6 Retain an attorney with experience in construction cases to draft or review the contract. Be sure that the payment schedule for the builder is clear and understandable.Ensure the builder belongs to a respected trade organisation as it will have membership standards and requirements. Don't forget to make a call to make sure membership is current.

#7 Make sure that the contract specifies the start and completion dates. Insist on some type of late fee or penalty if the completion is delayed past a certain grace period (notwithstanding circumstances beyond the builder's control, such as inclement weather).Contact your local builders association and ask for a list of registered members. The National Federation of Builders has 14 offices around the country which can provide you with a list of registered builders in your area.

#8 Execute the approved contract.Ask two or three builders for estimates in writing. Ask them to confirm whether there is any planning permission required for the work.Ask each builder for two or three references from previous customers. Contact these people and find out how happy they were with the work carried and the builder's conduct. If possible go and view some of the work.

#9Make any required deposit payment, and be sure to write your checks as per the schedule (not earlier and not later).You should make an agreement or contract in writing with your builder. It should outline the work to be done, date of completion, security and safety, catering and lavatory arrangements, disposal of waste materials, hours of working and so on.Ask to see the builder's public liability insurance certificate. Also, the building work may affect your home and contents insurance - contact your own insurance company.

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New Water Technology On Tap

New Water Technology On Tap
Tuesday, December 21st, 2010 by iplumb

Legislation introduced this week is aimed to make Ontario a leader in water technology, the province’s environment minister says.

Kingston and the Islands MPP John Gerretsen on Tuesday unveiled the Water Opportunities and Water Conservation Act, which is meant to promote water conservation as well as the province’s emerging technology expertise.

If passed, the legislation would see the creation of what would be called the Water Technology Acceleration Partnership, a “technology hub” bringing together industry, academics and government to streamline the sale of water-centred technologies.

With an expected 40% shortage of drinking water in the next 20 years, Gerretsen said it is an industry brimming with potential.

“We think there’s a great opportunity there to cluster some of these water-technology companies that already exist, marry it with new, innovative ideas, and to become, in effect, a world leader in providing … potable drinking water.”

By turning the creation of clean water into a business opportunity for Ontario companies, Gerretsen hopes the province will become recognized for water technology the same way California’s Silicon Valley is recognized for computer technology.

Ontario’s water technology companies employ more than 22,000 people, and many of their products are already being used around the world, Gerretsen said.

According to government-provided statistics, water and waste -water technology generates $1.8 billion in sales, making it the largest sub-sector in Ontario’s environment industry.

The act, Gerretsen insisted, is not about the “bulk exporting” of water.

“It’s a great opportunity for us to export (our) water know-how … not our water.”

Ontario’s water-centred technologies were spawned from the government’s attempt to clean up the Great Lakes about 20 or 30 years ago, Gerretsen said. He figures it is the proximity to those same Great Lakes that’s to blame for Ontarians using 260 litres of water each day, about twice as much as the average European.

Ontarians could do more to conserve water, Gerretsen said, even if it’s something as simple as using a rain barrel.

“There’s absolutely no reason to use clean, drinkable water to water our flowers,” Gerretsen used as an example.

The bill also lays out water-efficiency standards for fixtures such as faucets and shower heads, similar to the existing EnerGuide system for household appliances. If the new products meet those standards, they can bear a label detailing their energy efficiency.

The proposed legislation is also intended to help municipalities identify problems with existing infrastructures.

“About a third of municipal water is being lost to leaks, etc.,” he said, “so if you come for (provincial) funding, you have to show you have a water sustain-ability plan in place to make sure the water that you’ve got within your system is being used as efficiently as possible.”

The proposed act was introduced a decade after the Walkerton tragedy, in which seven people died and 2,500 fell ill after the town’s water became contaminated with E. coli bacteria.

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