Boomers plan to stay put when they retire

Sixty per cent of boomers would prefer to stay in their current community when they retire, according to RBC’s 15th annual home ownership study.

“Even though this generation of zoomers will tell you they have plans to travel abroad and pursue a more active lifestyle, many still want to keep their current home in retirement,” says Catherine Adams, vice-president, RBC Royal Bank. “Having a home base that is familiar and comfortable and where they know their neighbours and their community is important to them.”

To make it possible to stay right where they are, just over half of the boomers surveyed intend to do some remodeling, while 19 per cent plan on undertaking some major renovations. As well, 24 per cent are looking to purchase a second property, or vacation house.

“We also found that boomers are not attracted to ‘seniors-only’ communities, as over three-quarters find it appealing to retire in an area where there is a mix of younger and older residents, perhaps because most of Canada’s boomers don’t see themselves as old,” says Adams.

Of the 40 per cent of boomers who do not plan to stay put in retirement, the type of communities they would prefer to move to fall into four distinct categories:

Camp 60 Plus: 29 per cent have an affinity to retire in a close-to-nature community centred on outdoor activities.

Let me entertain you: 22 per cent would prefer a setting that focuses on social interactions, activities and interests.

Survival of the fittest: 16 per cent would rather live in a community that promotes a lifestyle focused on health, fitness, nutrition and emotional well-being.

Reduce, reuse, retire: 15 per cent prefer a community supporting environmentally responsible behaviour and lifestyle.

The survey also showed that boomers want it all. When asked to rate the appeal of certain features relating to a possible retirement home, boomers were attracted to a home within walking distance of necessary services (89 per cent), close to nature (89 per cent), well-suited for entertaining family and friends (88 per cent), one which features everything on one floor (87 per cent), and one which is close to water (84 per cent).

When it comes to changes in residence that boomers are likely to make in retirement, 40 per cent say they plan to move to a region where housing is more affordably priced. Not surprisingly, after withstanding long, cold and snowy Canadian winters, many boomers, once retired, would prefer a warmer climate (35 per cent), but only a few are likely to move to a different country (11 per cent). Men (16 per cent) are more likely than women (12 per cent) to want to move to a different country in their retirement.

Boomers are not taking their adult children into consideration when thinking about their home in retirement. Sixty-one per cent are not attracted to a home that has separate quarters for adult children living at home. However, 53 per cent are interested in a home with separate living quarters designed to meet the needs of aging parents or relatives.

However, some boomers are living with both generations. While only five per cent of boomers report having their parents or in-laws living with them, 15 per cent say they have adult kids aged 21 or older living at home. Of that percentage, 41 per cent have returned home to live, and 59 per cent have never left home. One in three (30 per cent) say the primary reason their adult children are living with them is to save money, 11 per cent say it’s because of no job or job loss, seven per cent to save for a down payment and six per cent are living with their parents due to marriage or relationship breakdown.

Eighty-three per cent of boomers think it’s important to pay off their mortgages before they retire, but 61 per cent still have a mortgage. Of those boomers surveyed, 22 per cent believe their home will be their primary source of income when they retire.

“Many boomers who have yet to retire are still carrying a mortgage, but unlike their parents, this generation may continue to tap into their home equity, when retired, for the things that matter most to them,” says Adams. “In early retirement, the ‘middle-agers’ may want to help their boomerang kids get established, upgrade their home, or buy a vacation property. In the ‘senior’ phase of retirement, they may use those funds as income to cover any rising costs and taxes required to stay put in their current home.”

Eighty-eight per cent of boomers feel a home that is well suited for entertaining family and friends is appealing. Over three-quarters (78 per cent) would like to have a maintenance service for their home, while 59 per cent find a condominium community attractive, with security, landscaping, and shared amenities such as a pool, gym or golf course.

More than half (59 per cent) of boomers are interested in a new construction retirement home, with the latest cutting edge designs and features. Almost half (47 per cent) indicate that they will likely be moving to a smaller home when they retire; only 10 per cent are interested in a larger home. One in three (35 per cent) want a bungalow, or everything they need on one floor.

Breathing better in your home

Most of us enjoy breathing sweet, clean air. But for the many people who suffer from allergies and respiratory problems, clean air is a necessity, not an indulgence. Fortunately, homeowners these days have a wide range of options that can help them breathe more easily and comfortably in the home.

The traditional furnace air filter isn't designed to clean air much at all. Its only function is to keep large particles like hair and debris from damaging the furnace blower. These large particles are rarely the source of human breathing difficulty.

The main advantage of traditional filters is that they provide low-cost protection to the heating and cooling equipment. But beware, if you don't change these furnace filters every month or two, they will become clogged and eventually drastically reduce your furnace's air supply. At the very least, clogged filters will make your furnace work harder and waste energy. At worse, it will cause "cycling," which can ruin the blower motor.

Cycling occurs when your furnace overheats. The furnace is equipped with a safety feature which automatically shuts it off when it gets too hot. Typically, overheating occurs when the furnace doesn't get enough air flow. Air flow can be hindered by a dirty filter or by furniture blocking return registers. After the furnace cools somewhat, it automatically turns back on. A minute or so later, it overheats and cuts off again. This on-and-off cycling is very hard on the motor. It will also usually limit the furnace's ability to heat the house on especially cold days.

While traditional filters cost less than $2, there are many fancier filters on the market today that filter out enough particulate matter to help humans breathe better. In general, the more costly the filter, the more dust it snags out of the airstream. Costing anywhere from $7 to $100, sophisticated filters can pull out up to five times as much dust as a traditional filter.

Whenever you try a new filter, make sure your furnace doesn't start cycling. After installing the new filter, turn the furnace on and listen carefully. If it cuts off after a few minutes and it does so before the house has reached the temperature you indicated on the thermostat, you may have a problem. If the pattern repeats, check to see if the return air registers around the house are obstructed. If the registers are clear but the furnace keeps cycling, switch back to your original filters.

If you aren't ready to settle for dirty air, ask a professional if your furnace can be modified to accommodate better filters or consider installing an electronic air cleaner. The more advanced the filter, the smaller the particles of dust it can trap. Household dust typically includes large quantities of hair, skin and pollen. It also includes lots of dust mites.

Dust mites are microscopic bugs that look like a cross between Godzilla and a tick -- nasty critters -- and the typical home has millions of them. Fortunately, they are too small to see with the naked eye. If you could see them, you'd probably feel compelled to move out. While the dust mites can be very irritating to the lungs, their dung and carcasses can be even worse.

Generally, the better the air filtering or cleaning system, the more dust mites and dust mite debris that is filtered out of the air. The most impressive filters use electrostatic energy to help capture about 5 times as many particles as a traditional filter. These filters have plastic or metal strips that generate static electricity when the air blows over them. In turn, the static electricity attracts very tiny particles.

As with the basic filter, it is important to change all filters regularly. Some filters are reusable. With these, take them outside and hose them down once every month or two. In the winter, use a deep laundry sink. Many people buy these filters thinking they will save money. But, after cleaning them a couple of times, they decide it's too much bother and switch back to disposables. The choice is yours, but make sure you don't allow dirty filters to stay in your furnace.

Electronic air cleaners, which can extract 30 times as much dust as ordinary filters, cost a lot more. In fact, a professionally installed air cleaner costs $500 to $700, including installation.

While this is a substantial amount of money, it's worth every penny if it offers significant breathing relief to one or more people in your household. But, if the price is too steep for you, portable units can be purchased for far less. Of course, the smaller units clean just the air in one room - much like a window air conditioner cools only one room.

Electronic air cleaners only need to be cleaned once a year or so because they incinerate the trapped dust. The human body is well equipped to handle breathing dirty air, so most people have no problem breathing normal household air - dust mites and all. But if someone in your household suffers from asthma, chronic bronchitis, emphysema, allergies or other respiratory problems, you should investigate ways to make the air in your home more breathable.

How Realtors can save lives

By Connie Adair

Smoke detectors save lives, and so can Realtors. By giving a smoke detector as a closing gift or by ensuring there are working smoke detectors in the homes they visit every day, real estate agents can make a difference, says Ron Merkley.

Merkley, a broker/appraiser with Ron Merkley Real Estate & Appraisal in Brockville, Ont., knows the tragedy of fire first hand as a volunteer firefighter. Selected as one of Brockville’s first volunteer firefighters in the early 1980s, Merkley worked five major fires in his first three months on the job, the first with two fatalities.

Unfortunately, during his 25 years of service, he has seen the number of fire fatalities increase. This year in Ontario, there have been 26 fatalities. Statistics show that about 50 per cent of fatalities could be prevented by working smoke alarms, he says.

“Fortunately in our area, there has been a decline in the number and severity of fires. That decline can be attributed to increased diligence by fire prevention officers, more public education and better building materials and code enforcement,” Merkley says.

“However, as a firefighter, it is very discouraging to hear and read the news stories about the fatalities that have occurred elsewhere in the last three months, in most cases due to the lack of working smoke detectors.”

Because the volunteer firefighter is also a Realtor, he says he believes real estate agents can play a role in helping to prevent these tragedies. “No one is invited into private homes more than Realtors. We can use those opportunities to provide a public service by advising homeowners about the value of smoke detectors, or even providing them, because the cost is very low. If we could save even one life, it would be worth it.”

Merkley talks about fire safety at Ontario Real Estate Association gatherings (he was president in 2000) and as current PAC chairman of the St. Lawrence Real Estate Board. “I have been there and done it. I have seen fatalities and seen how smoke detectors can help. I can spread the word with passion,” he says.

In 1981, when Merkley was already well-established in his real estate career, the chief of the Brockville Fire Department and city council established a composite fire service for the municipality. “I was honoured to compete for and to have been chosen as one of the initial 10 volunteer firefighters for the composite force. In the early years, we were assigned our own truck, and I obtained my Class D license to be one of the drivers. I responded to many major fires in the 1980s and 1990s.”

Merkley, who has a scrapbook of the major fires he has responded to, says the job is a rewarding one. Being a volunteer firefighter is “an opportunity to give back to the community while earning the respect of the full-time firefighters, many of whom have become friends,” he says. “I also saw it as a chance to do something that I truly loved.”

Merkley has received a 25-year long service award from the Ontario Fire Marshal and an exemplary service award from the federal government.

He says he was 32-years-old and had he not already had a successful career in real estate, would have become a full-time firefighter. Instead, he got to have “the best of both worlds.”

He recently became involved with Fire Marshal’s Public Fire Safety Council and plans to continue spreading the message about smoke alarms, carbon monoxide detectors and fire safety in the home, and he wants all Realtors to join in the fight.

Smoke alarms are available at a reduced price to real estate agents. Call the fire marshal’s distribution centre at 1-866-379-6668, ext. 107 for more information or to place an order.

Realtors can also promote fire safety by handing out brochures and educating homeowners. Fire safety brochures, including such titles as Home Escape Planning and Kitchen Fire Safety, are also available.

Pre-Inspected Listings, The Future of Real Estate

Home inspections have traditionally been for the benefit of the purchaser. Pre-inspected listings benefit all parties - purchasers, vendors and Realtors.

Deals Won't Fall Through

Home inspections, performed as a condition of the offer, can kill deals. Sometimes this is because the purchaser gets cold feet; sometimes there's a big problem no one knew about. Sometimes it is because the house has been misrepresented; sometimes it is because the home inspector scared the purchasers by not explaining that minor and typical problems are just that - minor and typical.

If the home inspection is performed prior to the house being listed, all parties will be aware of the physical condition of the house before an offer is drawn. There will be no surprises after the fact. Deals will not fall through.

Pre-inspected Listings Avoid Renegotiation

In a buyers' market, most houses have to be sold twice. It takes a lot of work to get a signed Agreement of Purchase and Sale. Then the home inspection is done and the purchaser wants to renegotiate.

If all parties know the condition of the house prior to the offer, there is no need for renegotiation. As most real estate agents know, renegotiation is very difficult. Vendors have already mentally sold the house; purchasers are suffering buyers' remorse. Egos, pride and frustration can muddy the already emotional waters.

A vendor who pays for a home inspection will be further ahead than one who has to renegotiate. He of she may even sell the house faster.

Unrealistic Vendors

An inspection at the time of listing can also help a Realtor deal with a vendor who has unrealistic expectations. The inspection report is good ammunition for explaining why you can't ask top bucks for a house which is not in top condition.

Repairs Prior To Sale

Sometimes, the home inspection will reveal items which should be repaired immediately. A pre-inspected listing allows the vendor to repair the problem prior to putting the house on the market.

If the inspection occurs after the Agreement of Purchase and Sale, the purchaser could walk, renegotiate or, depending on the inspection clause, the vendor may have the option to repair. A repair done by an unmotivated vendor may not be the best repair and may not meet the purchasers' expectations. This has caused more than one deal not to close.

Peace Of Mind For The Purchaser

There is no doubt that part of the value of a home inspection is a guided tour of the house for the prospective purchaser. The inspection company can return to do a walk-through with the purchaser, if requested.

Reputable Inspection Companies

Pre-inspected listings will only have value if the home inspection company is perceived to be reputable, qualified and properly insured. Prospective purchasers will have little or no faith in a report done by someone they perceive to be in the vendors', or Realtors' pocket.

Use clues to date the age of a home

The hardest house to date is a link home. They appear to be single, but if you do some digging they’re actually attached.

As home inspectors, we have some tricks for figuring out the age of a house. In newer subdivisions we pick up dates from manhole covers, sidewalks, and curbs. This will give you an idea of when the subdivision was built. This obviously doesn’t work in older neighborhoods.

Thermal pane windows usually have a metal strip which separates the two panes of glass. On that metal strip you will often find the manufacturer’s name, a CMHC number, and the date of manufacture. Again, this information must be used carefully. It will tell you the age of the window but not necessarily the age of the house. Check several windows. If they are all the same, you have just figured out how old the house is or the date when all of the windows were upgraded.

On houses built within the last 20 - 25 years, you will often find a sticker on the outside of the electrical panel indicating the possession date of the house. The Ontario New Home Warranty Program (in its earlier days know as HUDAC) placed these stickers on the electrical panel so that the warranty period could easily be established.

If you can be sure that the furnace or the water heater is original, the gas inspection sticker on either of these appliances is a good indication of the age of the house.

Porcelain plumbing fixtures usually have a manufacture date stamped into them. The easiest place to pick up a date is off a toilet (no jokes). If you remove the lid from the tank, the date will often be stamped on the underside of the lid and also inside the tank near the water line. The date is usually on the right hand side of the rear portion of the tank when you are facing the toilet. The date inside the tank is more reliable than the date on the lid because sometimes lids get broken and replaced. Again, you must look for other clues to convince yourself that the toilet is an original one. Otherwise, you have only established the date when the bathroom was renovated.

Certain building materials can be clues about the age of a house. These clues can vary dramatically by region. For example, in Toronto, virtually all houses with stone foundation walls were built before 1930. If you go to Kingston, Ontario, however, and ask when they stopped using stone foundation walls, the response might be "You mean they stopped using stone foundation walls?".

In Toronto, brick foundation walls were also popular until about 1935. In other parts of the province, you will find no brick foundation walls at all. With the exception of custom built houses, most houses built with concrete block foundations are pre 1970. Most subdivision houses built in the 70’s or newer have poured concrete foundations.

Most brick houses in Ontario were solid masonry construction (two wythes of brick) up until the late 1960’s. Most brick houses built after 1970 were brick veneer construction (one wythe of brick with a wood stud wall behind).

If you stand in an unfinished basement and look up at the subflooring, you will find that most houses before 1965 used plank subflooring. After 1965, most houses had plywood subflooring, until the early 1980’s, when waferboard subflooring became popular (with the builders at least).

Aluminum wiring began to be used residentially in about 1965, however, it did not really catch on until about 1970. When was it banned? It was never banned, however, it received so much bad press, that aluminum wiring stopped going into houses in about 1978. To this day, aluminum wiring is still used to bring power into the house from the street!

As you are probably aware, knob and tube electrical wiring makes insurance companies very nervous. Knob and tube wiring was superseded by conventional modern wiring in the late 1940’s. Even though wiring looked modern through the 1950’s, it was not until 1960 that modern wiring contained a ground wire. Therefore, houses built before 1960 have two prong outlets as opposed to modern electrical outlets which are designed for three prong plugs.

Before 1950, supply plumbing was galvanized steel. Houses with galvanized steel supply plumbing also tended to have cast iron waste plumbing.

In about 1955, waste plumbing was more likely to be copper than cast iron. In the late 1960’s, the price of copper went through the roof. Waste plumbing very quickly became plastic. (It was this jump in the price of copper that also lead to the use of aluminum wiring.)

Old houses have plaster on the walls and ceilings whereas new houses are built with drywall. When did the change occur? While there was no magic day when plasterers quit and drywallers began, most houses built before 1960 were plaster and most houses after were drywall.

Dating houses can be helpful for a number of reasons; for example, the type of furnaces installed 20-25 years ago have a life expectancy of 20-25 years. Therefore, most houses built in the early 1970’s have a new furnace or will need one shortly. Most houses built in the early 1980’s were built with asphalt shingle roofs that lasted up to 15 years. Again, most of these houses either have a new roof covering or need one. The good news about a 1982 house in need of new shingles is that it couldn’t possibly contain Urea Formaldehyde Foam Insulation. It was banned in December of 1980!!

Government Programs for Home Buyers

CMHC Purchase Plus Improvements Program

RRSP Home Buyers' Plan

5 per cent Down Payment Program

GST New Housing Rebate

Land Transfer Tax Rebate Program

Government Programs for Property Owners

First Time Buyers Focus on Good Things

Two out of three first-time buyers considering a home purchase are confident in future housing values but are thinking about monthly payments, the potential for rising property taxes and interest rates, says a new report by Genworth Financial Canada.

“Overall, this report illustrates that Canadians continue to have confidence in the strength of the housing market. They take cyclical market fluctuations in stride and are focused on the long-term benefits of building equity sooner,” says Peter Vukanovich, president of Genworth Financial Canada.

“That said, there are some issues which do concern them, such as high monthly payments. But the good news is that there are innovative mortgage insurance solutions available to help make home ownership more affordable,” says Vukanovich.

Only 33 per cent of first-time buyers surveyed for the report said “a drop in house values in the future” was of concern to them, making it the lowest-rated of seven possible factors. The top consideration, at 63 per cent, of first-time buyers nationally was “high monthly payments,” which was highest in the most expensive housing markets, including Alberta (74 per cent), the Greater Toronto Area (73 per cent), Ontario (71 per cent) and British Columbia (65 per cent).

Rising property taxes were cited by almost 60 per cent of first-time buyers across the country – a level of worry that peaks at about 70 per cent in British Columbia, Alberta and the Greater Toronto Area. Almost 60 per cent nationally were also apprehensive about rising interest rates.

“Canadians are savvy shoppers and they’re looking at the bigger financial picture,” says Vukanovich. “Economic factors like monthly payments, rising interest rates and property tax increases are playing a much greater role in home ownership decisions – particularly among the first-time home buyer segment.”

First-time buyers in the Greater Toronto Area and in Alberta are, however, concerned about future house values. Following extraordinary housing price spikes in Alberta’s red-hot economy, which have begun to moderate, 54 per cent of buyers surveyed were worried about declining values. In Toronto, where home and condo values also have climbed rapidly, 50 per cent of first-time buyers expressed the same sentiment.

The Genworth survey also shows:

• The most common level of down payment intended was between five to 10 per cent, while 25 years was the most preferred amortization term and a five-year mortgage term remains most popular nationally.
• Nationally, most first-time buyers planned to spend between $100,000 and $199,000, except in Alberta and the Greater Toronto Area, where respondents cited $200,000 to $299,000, and British Columbia, where first-time buyers expected to pay $300,000 to $399,000.
• Almost 60 per cent of first-time buyers said they’d get mortgage information from the Internet, including the use of online mortgage calculators to see what monthly payment they could afford.

Does City Water Need To Be Tested?

        By federal law any government or private company which provides water to at least 25 people on a regular basis must comply with certain testing requirements.

         Assuming that the required level of testing occurs, that means the water at it's point of distribution is of reasonable quality. However, there are a number of things that can happen between that distribution point and your faucet tap. Some of these things include: Cracked or broken distribution pipes. In many cities and towns the water pipes could be several decades old, in some communities the pipes could be over a century old. Ground water can enter cracked or broken pipes bringing any number of contaminants with it. In some cases there are faulty flow control valves which can allow other customer's water to back flow into your water supply.

        Chlorine is often added to public water. Trihalomethanes are a group of chemicals that are created as a by product of chlrorinazation. These chemicals are suspected carcinogens if their levels exceed certain limits. Any home constructed prior to 1990 may have plumbing pipes that were joined together using lead based solder. The solder in some cases can leach out and get into the water supply. Some older homes may also have lead pipes leading to the public water main. While the lead from these pipes doesn't always enter the drinking water, the only way to be certain is by testing.

        In conclusion, drinking water quality should be an important consideration of your new home. Doing the correct level of testing will inform you and your family whether you will be able to enjoy safe drinking water. Be sure to ask your professional home inspector about water quality testing.

A Spring Checklist for the Outside of Your Home

Spring is just around the corner, and home maintenance thoughts start turning from inside to outside. Maybe you're considering getting your home ready to sell this spring and need to check out its "curb appeal", or maybe you're just getting things ready for the coming outdoor season -- either way, the following checklist should help your plans to spruce things up, and also give you a head start on warding off future maintenance problems.

Fences: A good place to start is with the perimeter of your property. Winter plays havoc with fences, so check them out carefully. Wiggle the posts to see that they're still firmly set, and look for loose fence boards and loose or rotted stringers. Check also to see if the fence is due for a fresh coat of paint or other finish.

Drainage: While walking the property, be sure and think about drainage around your home as well. Winter storms can cause shifts in local topography that may change drainage patterns, allowing water to move or pool around the foundation, or come into contact with your siding. Look for areas of water staining on the concrete, or dirt or water stain patterns on siding.

Trees: In the wet and well-treed Northwest, you need to keep an eye on potential problems caused by the trees on your property. As you tour, look for limbs that have cracked or are sagging, or trees that may have more of a lean than you remember. Check for overhanging limbs that may be shading the roof and causing mildew problems, or that may be deposing leaves or pine needles that can clog gutters and create a fire hazard.

Foundation: Check the foundation for signs of cracks or other leakage problems. Small cracks can be a source for seepage into the crawl space, and you especially want to take notice of larger cracks that may indicate movement in the ground under or around the home. If you've noticed water in the basement, keep that in mind as you analyze both the foundation and the surrounding drainage patterns.

Decks: Rain and snow take their toll on your decks, so check them over carefully. Check the condition of the boards for rot or splitting. Walk the entire deck to check for protruding nails, and also to see if everything feels solid -- sometimes a simple walk will point up loose supports or areas that need addition bracing. You'll also want to pay attention to deck rails, looking for loose boards, missing nails, separated joints, and support posts that feel wobbly. Finally, check the condition of the deck's finish, and determine if a fresh coat is due this summer.

Siding: Carefully examine the siding to see what winter has wrought. Look at the paint, especially on the main weather-exposure sides of the house. Check the caulking around windows, trim boards, and siding penetrations such as lights and faucets. Look for cracked or sagging boards, or nails that are working loose.

House numbers: While you're looking at the siding, take a moment to check your house numbers. Are the firmly attached and clearly visible from the street? Do they even exist?

Gutters: Bad gutters can cause a variety of moisture problems, and also detract from the appearance of your home. Check that gutters are firmly attached, and that downspouts are well secured and draining properly away from the house. Check the paint for deterioration, especially around joints where you may find indications of leaks in the seams.

Roofing: Let your eyes keep wandering upward, and take a critical look at the condition of your roofing -- you may even find that a pair of binoculars comes in handy. Check to see if shingles have blown off or worked loose, or if they're starting to curl. For asphalt shingles, look at the overall condition of the mineral granules that coat the shingles. Look at the ridge shingles -- especially wood ridge -- to see if any are missing or cracked. Check the condition of flashings and skylights as well.

Chimneys: Take a very close look at chimneys and flue pipes, which again can take a beating during the winter. For masonry chimneys, look for loose bricks or rock, or mortar joints that are deteriorating. For metal wood stove flues and flues for gas appliances, check the flashings, the condition of the pipes, and the condition of the flue cap. If you see any problems with your chimney or flue pipes, have a professional check and repair them immediately -- problems in these areas are serious potential fire hazards.

Average Female Home Buyer is 29

        In a new national poll by TD Canada Trust, a portrait of the individual Canadian woman homeowner has emerged as single, financially savvy and most likely to purchase a condominium.

        The poll, conducted in the first two weeks of this year by Ipsos-Reid, was among women aged 20 to 45 who have purchased a home as an individual rather than jointly with a spouse or common law partner. Among this group, the average age at which they purchased their first home is 29 years. Eighty-two per cent are single, 80 per cent have no children and 49 per cent have a university degree. Most (86 per cent) still live in the last home they purchased and have made only one home purchase as an individual.

         “With more and more Canadian women marrying later in life or remaining single, we’re seeing the emergence of the young, financially savvy woman who’s taking on the commitments, joys and responsibilities of owning a home,” says Joan Dal Bianco, vice-president, TD Canada Trust.

        Respondents indicate their main motivation for buying a home was that it was a good investment (71 per cent), that they didn’t want to pay rent anymore (61 per cent) and their desire to get into the housing market (54 per cent). More than three-quarters (77 per cent) say their biggest worry prior to purchase was the affordability/financial commitment, while half (51 per cent) cited having to assume homeowner responsibilities such as maintenance and a homeowner’s legal liabilities.

        “For women, independence means, among other things, not having to worry about a roof over your head and having a good retirement plan,” says Patricia Lovett-Reid, senior vice-president of TD Waterhouse. “The beautiful thing about home ownership is that it gives women security in the present while allowing them to build equity for the future.”

        First-time condo buyer Lisa Olsen, a 22-year-old Torontonian, feels a sense of pride in having a place of her own. “I wanted get into the real estate market early and have my money go towards something tangible,” she says.

        The online survey was conducted among 713 women living in major metropolitan areas across Canada and reflects the population of Canadian women in these areas aged 20-45 according to 2006 Census data.

        Overall, condominiums are the most popular option for individual women homeowners (42 per cent), followed by houses (34 per cent), townhouses (13 per cent) and duplexes or triplexes (six per cent). Vancouver women, at 73 per cent, are most likely to buy a condo, followed by Toronto women (52 per cent). In Calgary, Edmonton and Montreal, condos and houses have the same appeal to individual women buyers. But in Prairie and Atlantic Canadian cities, houses are the top choice for individual women homeowners (64 per cent Prairies, 57 per cent Atlantic).

        Across all types of homes, cost and location of the neighbourhood emerge as the two top selection criteria by women homeowners. As for condo vs. house, cost is sited as a decision factor significantly more often by condo buyers than house buyers (77 per cent vs. 57 per cent).

        The same applies to low or no maintenance (50 per cent for condo buyers vs. eight per cent for home buyers). Conversely, significantly more house buyers than condo buyers cite wanting a yard (48 per cent vs. one per cent) and size (42 per cent vs. 33 per cent) as decision factors. What are the best and worst aspects of owning a home for the individual woman homeowner?

        While no single best aspect emerges, the three top mentions are financial security and building equity (23 per cent), having a place of one’s own (22 per cent) and gaining independence and control (18 per cent). The worst aspect by far is maintenance and repairs (21 per cent of respondents), followed by the cost of maintenance and repairs (six per cent).

        Half of respondents (50 per cent) say their main reason for selling would be to trade up. Forty-one per cent say it would be for more space and 37 per cent say it would be to switch to a different type of home. Only 29 per cent say it would be because they are getting married.

        “We are witnessing nothing less than a revolution among individual Canadian women,” says Dal Bianco. “Right across the country, they are investing in themselves and in their futures by becoming homeowners, and in doing so are strongly reinforcing their financial and personal freedom.”

Grading and Drainage
by Ronald W. Gower of Craftsman Home Inspection 03-21-2005

Grading that can collect and hold water near and next to a foundation wall can cause basement flooding. Flooding into a finished basement area can lead to mold growth within 48 hours. Long term water leakage can cause wood rot to wall framing members and can damage the foundation. Stored items can become damaged after a flood into a basement.

I find grading problems on almost every home that I inspect. Most flooding will occur in the spring when the ground begins to thaw and spring rain arrives. The grade is just like a roof on a house. A grade that pitches towards a home can direct water to the home. This can be critical during the winter when the ground is frozen and snow covered. A heavy rain can quickly cause flooding next to a foundation wall and then leak into the basement. Heavy rain can occur any time during the year.

Question the owner about any past flooding into the home. Check your disclosure statement if you have a disclosure law in your state. Flooding of a basement can be one of the worst surprises a new home owner encounters. I have seen a home that was flooding on the day of the home inspection and the owner said they never had water during the 10 years that they lived there. This is possible. Every 6-8-10 years can be very wet. I saw the 10th wettest year in my area. Any possible evidence of past flooding is important to determine before you buy the home so that you can make an informed decision on purchase or negotiation with the seller.
Ideas to reduce basement water leakage:

Pitch all grades away from a home. The ground adjacent to the foundation should be sloped away from a building at a slope not less that 1 inch per 1 foot of grade for a distance of not less than 8 feet. Note: If the house has a hill side directed to the house even this above recommendation could be defeated. In some cases a grade and below grade drain needs to be installed to direct water away from the ground adjacent to a foundation. An engineer sometimes needs to design such a drain. I have seen a case where a curtain drain was needed and the cost was almost $20,000.
Drain water from gutters into dry wells placed at least 20 feet from a building. Again, this relates to soil conditions, general pitch of the surrounding grade, house elevation as the house sits near coastal flood plain areas or wet land areas. High water tables can be located 3-4 inches below a basement slab year round in some homes. Many people drain their sump pumps into town or city sewers which is illegal in most areas.
Keep grass clippings away from the perimeter of the home. Grass clippings can raise the grade around a house over time and create low moat areas in the perimeter gardens that can hold water. In most cases the water will travel down into the earth and then find small cracks and openings in the foundation and end up in the basement.

To sum it up: A basement is a hole in the ground.
Do not make it easy for water to fill the hole.

Causes of Sill Damage
by Ronald W. Gower of Craftsman Home Inspection 03-21-2005

        Termites often enter wood sill areas in a home at masonry exterior steps/slabs. Termites will eat wood members often causing structural failure and expensive repair costs. An inexperienced home inspector will sometimes miss termite evidence/damage. This can lead to unexpected bills after a closing. Make sure your home inspector is experienced in termite pest control. The best inspector is a person that is actually working in the termite business. If the inspector is also completing a building inspection he/she should not violate ASHI standards in accepting any pest control work as a result of a paid termite inspection coupled with a building inspection. The buyer needs to be assured that the home inspector is not completing work with a built in conflict of interest. Avoid any conflict of interest.

        I have been in the termite control business for 27 years. I have treated many concrete/masonry steps and slabs to control termites. A step or a slab is very much like a pile of dirt in contact with your home. This pile of dirt will create an avenue where termites can sneak into a home and start munching on wood members. I have seen a lot of structural damage caused by termites. A tell tale sign is to look for compression of a sill member. A wood sill member is attached to the foundation. If the sill has weight on it the sill will compress like a wet sponge. The settlement is caused by the termites eating the interior of the wood and leaving holes and gaps that can collapse the sill to the consistency of cardboard. Steps and slabs are installed after the main foundation is poured and the grade backfilled. This leaves a gap just big enough for termites to enter the house between the steps and slabs. Termites are smart. They would rather sneak into your house than just build a termite tunnel up the side of the foundation. They can build an exterior tunnel but they have been to school. Termites are actually building engineers. They make their own concrete which is the tunneling material. So for example an inspector must be very careful in any sill areas in the basement adjacent to exterior steps and slabs. Porches built on slabs are common entry points of termites.

        Wood rot in sills adjacent to steps and slabs is very common also. Builders will often omit metal flashing on the sill/wall/sheathing surface before the steps or slabs are poured. Some material such are “Ice and Water Shield” can sometimes be used. Years ago asphalt paper was allowed but the paper can quickly deteriorate exposing sills to water. Rotting sills is often the result after years of water leakage into wood members. In many cases it is impossible to determine if there is proper flashing. I will often look under the siding with my mirror to determine if there is some evidence of flashing. Water stains and rot can often be visible in the basement at sill areas adjacent to steps and slabs. There is no way to tell the extent of rot damage unless the step/slab or portions are removed. An inspector must look very carefully at these areas.

        When damage is discovered you should get three estimates for repair and negotiate before a closing or be prepared to absorb the costs yourself.

Every Home Has Defects

        We'd all like to buy the perfect home. Unfortunately, it doesn't exist. Even new homes have defects. That's why it's important to have any home you buy inspected by qualified professionals-even if it's brand new.

        You'll undoubtedly discover defects during your inspections. In fact, you should hope that any significant defects are uncovered before you remove your inspection contingency from the purchase contract. It's far worse to be surprised after closing by unanticipated repair expenses.

        Armed with a complete assessment of the current condition of the property, you can make an informed decision about whether to purchase the property in its present condition. Or, you may want to renegotiate the terms of your contract with the seller. If defects are incurable, you may want to withdraw from the contract altogether.

        Your purchase contract should set guidelines for how inspection defects are to be handled. For example, the seller may have had a "termite" inspection completed before marketing the property. If so, the contract might specify which party-buyer or seller-will pay for the required corrective work.

        Not all inspection contingencies are the same. Some specify that the buyers have the unilateral right to approve or disapprove inspections. In this case, if the buyers disapprove the inspections, the contract may be cancelable at the buyer's option.

        House Hunting Tip: Even if your contract allows you to withdraw due to inspections, carefully consider before electing this option. You will already have spent considerable time, effort and money finding and inspecting the property. If the defects are correctable, it's usually worthwhile to try negotiating an agreement with the sellers rather than starting the process over again.

        Some inspection contingencies provide for buyers to give the sellers the opportunity to correct defects, rather than just walk away from the deal. In this case, the terms of the contract often become subject to further negotiation.

        Before asking a seller for inspection-related concessions, make a list of the significant defects that you discovered during your inspections. Then find out how much it will cost to repair these defects. When you make your request, put it in writing and include a copy of your cost accounting list along with the reports and estimates on which you're basing your request.

        You may find that the seller is not willing to negotiating over items that were disclosed to you before you made an offer to purchase the property. It still may be worthwhile to point out that the cost of the previously disclosed items in addition to the newly discovered defects alter the amount you can reasonably pay for the property.

         Sellers are wise to consider any reasonable proposal from a well-qualified buyer. If the inspection-related defects are significant, they are likely to be a concern to other buyers. Depending on the law in your state regarding seller disclosures, you may have to provide copies of the buyer's reports to future buyers who are interested in the property.

        There are several ways in which sellers can participate in buyers' repair requests. They can have the work done by closing, if time permits. Often contractors will accept payment at closing.

        Or they can credit money to buyers as long as the credit is called a credit for buyers' nonrecurring closing costs. Lenders usually limit the amount of such a credit to 3 percent of the purchase price or equal to the actual amount of the nonrecurring closing costs, whichever is less.

        The Closing: Some lenders will allow money from the seller to be held in an escrow or trust account so that work can be completed after closing.

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