Wednesday 30 December 2020

Update: See What COVID-19 Has Done to 2021's Colors of the Year


The coronavirus pandemic has affected every facet of our lives—even, apparently, the colors we should paint our walls. As proof, look no further than the colors of the year for 2021.

The time has arrived when paint companies start rolling out their top hues that embody the era's zeitgeist. And, with 2020 being unlike anything we've experienced in our lives thus far, it's no surprise that COVID-19 has had a palpable impact on which colors are predicted to dominate fashion and home decor next year.

So far, many of the prevailing shades are warm and comforting, and tie back to nature—which makes sense, given that many of us have been cooped up at home and craving more time outdoors.

So if you're craving some color therapy in the form of a fresh coat of paint on your deck or in your home office or beyond, check out which color(s) of the year have been announced so far below.

Sherwin-Williams 2021 Color of the Year: Urbane Bronze


Urbane Bronze is the oh, so sophisticated pick of the year from one of the biggest paint companies, Sherwin-Williams. And a dose of this earthy shade is just what the doctor ordered as it encourages you to create a sanctuary space for mindful reflection and renewal.


PPG 2021 Color Palette of the Year: Be Well


PPG's color of the year is actually a trio: Transcend, a subtle sandy hue; Big Cypress, which is tinged with ginger, and one from under the turquoise sea, Misty Aqua.

This grouping also feels extremely of the moment, given the fraught times in which we're living.

These colors evoke feelings of compassion and comfort, which resonates and represents the shifting mood of society.


Misty Aqua gets big raves from the design world, in part because it adds a playful, vibrant element, while the warm pink undertones of Transcend and Big Cypress are soothing and speak to positivity.

Misty Aqua is lively and refreshing, and it fits with the trend of blues and greens that most people have been choosing over the last few years—and it would be perfect in a coastal home in Florida or California, or in a bedroom, sunroom, or home office.

PPG suggests trying these shades with the 60-30-10 design rule, which means 60% of the room is painted in a dominant color, 30% in the secondary one, and 10% as an accent. The Be Well collection pairs nicely with greenery and blond or natural brown wood tones, too.

Behr 2021 Color Trends Palette

vancouver-realtor-carmen-leal

Not content with just a few shades, Behr has thrown wide its design doors and embraced 21 colors in a special collection for the coming year. This company's shades also mirror our nation's plight and encourage us to view our home as a place of refuge and rejuvenation.

The Behr collection is a new, elevated articulation of comfort that goes beyond traditional beige, gray, and green hues, and embraces color in a way that can redefine and enhance any type of space.


From quiet neutrals to bolder hues, Behr's 21-color salute has been sorted into six accessible themes that touch on optimism, calm, and quiet, with shades for each that are made for mixing and matching.

For example, the theme Casual Comfort might live well in an updated farmhouse with the modern neutrals Almond Wisp and Sierra. Or if your rooms are craving a more moody design, look to the Quiet Haven combo of Royal Orchard, a forest green, and Broadway, a mysterious steely gray.

HGTV Home by Sherwin-Williams 2021 Color of the Year: Passionate

This next paint brand went in the opposite direction with its color of year, choosing a deep-red tone called Passionate. Available only at Lowe's, this color acknowledges that even though homeowners have been holed up for many months because of COVID-19, they still want (and deserve) to push the envelope a bit when it comes to interior paint shades.


Because of the constant state of chaos and uncertainty in our country right now, consumers are eager to streamline and simplify their lives and homes—but that doesn't mean we need to forgo having fun with color.

Valspar 2021 Colors of the Year

As with other paint companies this year, no single color rose to the top of the heap at Valspar. Instead, the company has put together a pretty paint palette of 12 shades that evokes mindfulness and well-being. With these simple yet contemplative hues, homeowners can create a sense of calm.


To craft this special dozen, Valspar took note of web searches and upticks on key words such as "meditation"  and "home improvement" early in 2020 as a reaction to the stress related to the global pandemic.

These lifestyle changes coupled with a surge in DIY home activity helped guide our selection of a range of colors that can not only transform your space but also elevate your mood.

The result? Colors like this fresh and natural shade, Garden Flower, above, that would feel right at home in a bedroom or bath.


Or consider taking these hues outside to enhance your curb appeal this season. We love Maple Leaf for a front porch, especially when flanked with natural plantings and dark rattan seating.

Benjamin Moore 2021 Color of the Year: Aegean Teal

Soothing and harmonious, just like the warm, blue-green waters of a far-off locale you're dying to visit—that's the vibe channeled by Benjamin Moore's 2021 color of the year, Aegean Teal. This paint company has selected a classic shade that can stand on its own or play nicely with others as we settle in for a long winter's (coronavirus-induced) nap at home.


Amid uncertainty, people yearn for stability—and the colors we surround ourselves with can
have a powerful impact on our emotions and well-being.

And in case you're hoping to pair this on-trend teal with other hues in your home projects, Benjamin Moore has also released a dozen complementary shades in its Color Trends 2021 palette, including Atrium White, a rusty red called Amazon Soil, and Kingsport Gray, a tone that's equal parts mocha and cocoa.


Aegean Teal and its corresponding group of 12 hues are both modern and time-tested, making them ideal for paint upgrades that "celebrate the connections and real moments that take place within the home."

Pantone 2021 Colors of the Year: Ultimate Gray + Illuminating

Since 2020 was a complete wash and much of 2021 is likely to be challenging, color giant Pantone has picked not just one, but two colors of the year: Ultimate Gray and a cheerful yellow called Illuminating. The selections are meant to ground us while also encouraging folks to look forward to a brighter future.


The marriage of these two hues is one that's practical and rock solid but at the same time warming and optimistic.

Using gray as the base or dominant color with contrasting pops of yellow for accent, homeowners hoping to rehab their abodes this winter can't miss with this invigorating palette. Because let's face it, don't we all need a little more sunshine in our lives right about now?

********************************************************************


Are you interested in selling or buying your home in the next few months? Work with award winning realtor, Carmen Leal and her team that specialize in Real Estate Vancouver and have qualified Buyers that are looking for a home in your area!   604.218.4846 & www.carmenleal.ca


                                                                 This communication is not intended to induce breach of existing listing agreement.

Tuesday 29 December 2020

10 Things Homeowners Should Do Every Year

 Quick home tips to put more money back in your pocket


Buying a new home will likely be one of the most expensive purchases you ever make. Between the realtor fees, property transfer tax, and the legal fees, you could be left with a somewhat smaller bank account. Now that you’ve purchased a new home, you have to think about your mortgage, insurance, property tax, utilities, renovation costs, and more. 

A new home purchase is an exciting time and you can make sure you don’t detract from the incredible experience by having a sound financial plan. Keep reading for 10 smart tips that every new homeowner should do to save themselves money. These tips are straightforward and will help you handle the costs of new homeownership more easily. 


1. Save On Moving Costs

This tip may be too late if you’re already enjoying the comfort of your beautiful new home. But, if you haven’t moved yet, we can’t stress how important it is to reduce moving costs. On average, it can cost between $870 and $1,160 to move a two-bedroom apartment in Canada during high season. The pricing will vary depending on your home size, the number of movers needed, and the hours worked. 

In comparison, a large U-haul truck and buying some pizza and beer for your friends can cost you under $350. If at all possible, opt for the do-it-yourself move. It may be a lot more grunt work and planning, but it’s well worth the savings.

 

2. Change Your Mortgage to Bi-weekly Payments

This tip is more about your long-term savings. If you’ve signed up for a mortgage with monthly payments, consider switching it to bi-weekly. A bi-weekly payment schedule accelerates your mortgage payments and takes payments every two weeks. By the end of the year, you’ve made 13 monthly payments instead of 12. 

Let’s say you have a $600,000 mortgage over 30 years, with an interest rate of 4.5%. If you switch to accelerated bi-weekly payments, you’ll save a total of $84,104 in interest and finish paying your mortgage off in 25.6 years!

Mortgage lenders allow you to make this change at any time, so visit your bank today and switch to bi-weekly to start saving. 

 


3. Make Smart Furniture Decisions

One of the most exciting aspects of having a new home is all the decorating possibilities. With online shopping becoming more prevalent this year than ever before, virtually every home store is at our fingertips. It can feel so easy to order new things online. 

If you are going to purchase new furniture, do it while keeping a budget in mind. First, make a plan for buying new furniture. Don’t go out and design an entire home on your credit card in just one month! Unless you already have a furniture budget set aside, plan out your purchases slowly. Find an item, save up for it, and then repeat. 

The next suggestion is to consider alternative methods for furniture shopping. Consider buying something second-hand from Kijiji, Facebook Marketplace, or a used antique shop. You could also try asking for a discount for taking the floor model home from a furniture store. Whatever you do, try to find sales or discounts, so you’re always purchasing furniture within your budget. 

 

4. Do (Some) Home Repairs Yourself

Many new homeowners want to make improvements to their new home. Whenever possible, consider doing some of the home repairs or improvements yourself. You can save thousands by opting to make simple home improvements on your own. Of course, do your research first to establish how comfortable you are taking on a given project. You can find incredibly useful videos on YouTube that walk you through projects or step-by-step guides online. 

Some of the more popular home improvements that are well-suited for DIY are painting, fence repairs or installation, minor plumbing, carpentry, or flooring projects. 

Taking the DIY route can result in significant savings. The cost of painting the exterior of a 2,000 square foot home can range from $3,200-$7,200. In comparison, a DIY paint job will cost you an average of $15-$50 per gallon plus a good chunk of your time, of course. Sometimes breaking a sweat is a great way to save.


 5. Use Professional Contractors When Needed

For the home repairs and renovations you can’t do yourself, it’s recommended you always use professional and insured contractors. This tip might seem strange as a cost-savings suggestion, since quality contractors aren’t the cheapest option out there. But, this is one of those times you won’t want to cut corners. 

Working with unskilled professionals can actually cost you more money in the long run. They may make mistakes in their work that will only result in you having to hire someone else later on. Additionally, if you work with an unlicensed contractor, your home insurance policy can become void. Lastly, if the contractor is uninsured and makes a mistake on the job that leads to flooding or significant issues, you’ll have to pay for these repairs out-of-pocket. These are all costly risks that make working with non-insured and non-certified contractors simply too high. 

Make sure to read reviews, ask them about their insurance policy, and find out if they’re licensed in their field. 

 

6. Fix Drafty Windows

Drafty windows are a common problem for older homes. While it may seem like a minor issue, a small gap means money is flying out your window. As you pay to heat your house in the winter or cool it down in the summer, that energy is escaping and likely costing you hundreds of dollars. 

If you have the budget, consider installing brand new energy-efficient windows. While this will be a bit of an upfront cost, it can save you up to 40% on your utility bills throughout the year. It can also improve the curb appeal of your home, as energy efficient windows are a top feature that buyers are looking for right now. If this isn’t an option for you, applying weather stripping to your windows is a cheap and easy DIY alternative.

 


7. Cancel Your Cable

According to the Canadian Radio-Television and Telecommunications Commission, Canadians spend an average of $52.58 on paid television services per month. That might not sound like a lot, but over a one-year span, that adds up to almost $631. That’s enough to purchase a few double pane windows!

In contrast, Disney+ starts at $8.99 per month, while Netflix and Crave plans start at $9.99 per month. Subscription services provide just as much value as cable, you can switch between them when you want to change things up, and you’ll save hundreds of dollars throughout the year. 

 

8. Bundle Insurance

Now that you’re a homeowner, you’ve likely gotten (or are about to obtain) home insurance. If you also have other types of insurance (such as car insurance, jewelry protection, or extended personal health), consider bundling your services. Insurance providers often offer significant discounts for each additional insurance product you purchase with them. Just bundling home and auto insurance can save you hundreds of dollars in a year.

 


9. Choose LED Lights

LED lights are more expensive as an upfront cost, but they are well worth the investment. On average, LED lights can last 25,000 hours. They outlast and outperform their cheaper alternatives, meaning there’s savings to be had in the long run. They’re also considered the eco-friendly choice as you have to replace them less frequently, so less waste goes to the landfill. 

 

10. Check Your Water Heater Temperature

As soon as you move into your home, check your hot water heater and lower its temperature to 55 degrees Celsius. Most people don’t use water hotter than this level, so it only serves to increase your utility bills for no reason. This is just one of many ways you can have an energy-efficient home, which costs you less money and is better for the planet. 

Now that you’re a homeowner, you’ll also want to educate yourself on the 10 home maintenance tasks that you should be tackling every year. Get started now so they don’t add up and overwhelm you!


********************************************************************


Are you interested in selling or buying your home in the next few months? Work with award winning realtor, Carmen Leal and her team that specialize in Real Estate Vancouver and have qualified Buyers that are looking for a home in your area!   604.218.4846 & www.carmenleal.ca


                                                                 This communication is not intended to induce breach of existing listing agreement.

Friday 18 December 2020

How Much to Offer on a House: Should You Go Below or Above Asking Price?


How much should you offer on a house? The not-so-simple answer: It depends on the market you're in, the list price, what kind of mortgage you, as the potential home buyer, are comfortable with, and many other factors that you should weigh before beginning negotiations.

Of course, every buyer wants to score a deal. It can feel good to negotiate a seller's price down, and even a small price cut can make a big difference to those monthly mortgage payments.

But, if you go in with a lowball offer, you could risk offending the sellers—and having them write you off completely. Buying real estate is all about striking the right balance. Here are some questions to ask yourself to help you figure out that happy medium, and to help you land on the perfect offer price.

Are you in a buyer's or seller's market?

Your ability to present a lower offer will depend greatly on current market conditions—meaning if it's a buyer's or seller's market.

So before you make any purchase offer, determine what type of market you're in. Traditionally, buyer's markets come with a lot of flexibility on price, because available inventory is high and houses tend to sit on the market for longer. Here, sellers tend to be more willing to negotiate, because offers are few and far between.

In a buyer's market, do not hesitate to submit an offer that's around 10% below asking. Most sellers will at least see that as worthy of a counteroffer.

In a seller's market, it's much harder to go below asking price, because inventory is low, and multiple buyers tend to be interested in the same properties. In this case, the sellers may be getting multiple offers, so don't expect them to be too willing to negotiate with you. If you're determined to make this house your new home, it's best to offer list price, or better yet, consider going above the listing price if you can.

Know that other home buyers might be willing to submit an all-cash purchase offer, or even waive a home inspection, to persuade the sellers to accept their offer, so prepare to get competitive.

Before you start submitting offers, your real estate agent can help you determine which market you're currently in. 

How long has the listing been active? 

By paying attention to the property history, you can get a better idea of the demand for that house.

Two days on the market? Probably not a good idea to go in with a lowball offer $50,000 below asking price. A whole year on the market, with price reductions? Go ahead and roll the dice. The longer a house has been on the market, the less of an upper hand the seller has in negotiation.

If the house has been on the market for a long time, the owner is probably motivated to sell as soon as possible, and that can mean flexibility on price. In the worst case, if you come in with an offer that's too low, the seller might come back with a counteroffer that's still reasonable.

Make sure a lowball offer doesn't insult the seller, if you want it to be taken seriously as a buyer.

The rule I've always followed is to never go more than 25% below the listed price. Chances are, after fees, commission, and sentimental value, the sellers are already hurting. If you dip below that point, they may disregard your offer entirely.

Fortunately, info on how long a house has been on the market can be easily found on most listings—or if not, a good real estate agent will have access to this information through the multiple listing service. Ask for this to be pulled up for you, and use it as a reference as you draw up your offer.

How does the price compare to similar homes in the area?

Once you have a general sense of how much wiggle room there is to work with, it's time to look at comparable sales in your desired neighborhood. Ask your agent to work up a comparative market analysis (also called a comp or CMA), which will show you the list and sale prices for similar homes that have sold in the last few months. Use that as your guide to home buying.

The comparables should be your go-to on a first offer. If, for instance, a similar property in the same neighborhood is quoted $10K less, then it makes sense for you to go $10K below the asking price.

As a home buyer, knowing the market value is key to getting a fair price on your new home.

How badly do you want the home?

Last but not least, ask yourself: How would you feel if your offer got rejected? Let's say you've been house-hunting for a while and you've finally found your dream home. It may be worth it to consider offering exactly what they're asking for—or a bit more—to let the seller know you're move-in ready.

If you want the home badly enough, you need to make the seller an offer they can’t refuse.

However, if you think you'll be able to move onto the next property without any issues coming up, there's no harm in trying to score a deal. In the worst case, the seller rejects your offer and you go back to house-hunting. In the world of real estate, there's almost always a long list of new and exciting properties.

If you think you can fall in love with another property, don't waste your time and money competing with multiple offers and other buyers. If you find yourself going over market value or potentially overpaying in a bidding war, take a step back, and ask yourself if this particular house is worth it.

Real estate is expensive, and with the added cost of home inspections, closing costs, Realtor fees, and so on, it's best to make sure you can afford the house before you get locked into a mortgage you can't afford.

This last piece of advice may be the most subjective of all, but it's important. Ultimately, it's up to you to determine what you're willing to offer for a house. 


********************************************************************


Are you interested in selling or buying your home in the next few months? Work with award winning realtor, Carmen Leal and her team that specialize in Real Estate Vancouver and have qualified Buyers that are looking for a home in your area!   604.218.4846 & www.carmenleal.ca


                                                                 This communication is not intended to induce breach of existing listing agreement.

Wednesday 16 December 2020

10 Things New Homeowners Should Do to Save Money

Quick home tips to put more money back in your pocket

Buying a new home in Vancouver will likely be one of the most expensive purchases you ever make. Between the realtor fees, property transfer tax, and the legal fees, you could be left with a somewhat smaller bank account. Now that you’ve purchased a new home, you have to think about your mortgage, insurance, property tax, utilities, renovation costs, and more. 

A new home purchase is an exciting time and you can make sure you don’t detract from the incredible experience by having a sound financial plan. Keep reading for 10 smart tips that every new homeowner should do to save themselves money. These tips are straightforward and will help you handle the costs of new homeownership more easily. 

 

1. Save On Moving Costs

This tip may be too late if you’re already enjoying the comfort of your beautiful new home. But, if you haven’t moved yet, we can’t stress how important it is to reduce moving costs. On average, it can cost between $870 and $1,160 to move a two-bedroom apartment in Canada during high season. The pricing will vary depending on your home size, the number of movers needed, and the hours worked. 

In comparison, a large U-haul truck and buying some pizza and beer for your friends can cost you under $350. If at all possible, opt for the do-it-yourself move. It may be a lot more grunt work and planning, but it’s well worth the savings.

 

2. Change Your Mortgage to Bi-weekly Payments

This tip is more about your long-term savings. If you’ve signed up for a mortgage with monthly payments, consider switching it to bi-weekly. A bi-weekly payment schedule accelerates your mortgage payments and takes payments every two weeks. By the end of the year, you’ve made 13 monthly payments instead of 12. 

Let’s say you have a $600,000 mortgage over 30 years, with an interest rate of 4.5%. If you switch to accelerated bi-weekly payments, you’ll save a total of $84,104 in interest and finish paying your mortgage off in 25.6 years!

Mortgage lenders allow you to make this change at any time, so visit your bank today and switch to bi-weekly to start saving. 

 

3. Make Smart Furniture Decisions

One of the most exciting aspects of having a new home is all the decorating possibilities. With online shopping becoming more prevalent this year than ever before, virtually every home store is at our fingertips. It can feel so easy to order new things online. 

If you are going to purchase new furniture, do it while keeping a budget in mind. First, make a plan for buying new furniture. Don’t go out and design an entire home on your credit card in just one month! Unless you already have a furniture budget set aside, plan out your purchases slowly. Find an item, save up for it, and then repeat. 

The next suggestion is to consider alternative methods for furniture shopping. Consider buying something second-hand from Kijiji, Facebook Marketplace, or a used antique shop. You could also try asking for a discount for taking the floor model home from a furniture store. Whatever you do, try to find sales or discounts, so you’re always purchasing furniture within your budget. 

 

4. Do (Some) Home Repairs Yourself

Many new homeowners want to make improvements to their new home. Whenever possible, consider doing some of the home repairs or improvements yourself. You can save thousands by opting to make simple home improvements on your own. Of course, do your research first to establish how comfortable you are taking on a given project. You can find incredibly useful videos on YouTube that walk you through projects or step-by-step guides online. 

Some of the more popular home improvements that are well-suited for DIY are painting, fence repairs or installation, minor plumbing, carpentry, or flooring projects. 

Taking the DIY route can result in significant savings. The cost of painting the exterior of a 2,000 square foot home can range from $3,200-$7,200. In comparison, a DIY paint job will cost you an average of $15-$50 per gallon plus a good chunk of your time, of course. Sometimes breaking a sweat is a great way to save.

 

 5. Use Professional Contractors When Needed

For the home repairs and renovations you can’t do yourself, it’s recommended you always use professional and insured contractors. This tip might seem strange as a cost-savings suggestion, since quality contractors aren’t the cheapest option out there. But, this is one of those times you won’t want to cut corners. 

Working with unskilled professionals can actually cost you more money in the long run. They may make mistakes in their work that will only result in you having to hire someone else later on. Additionally, if you work with an unlicensed contractor, your home insurance policy can become void. Lastly, if the contractor is uninsured and makes a mistake on the job that leads to flooding or significant issues, you’ll have to pay for these repairs out-of-pocket. These are all costly risks that make working with non-insured and non-certified contractors simply too high. 

Make sure to read reviews, ask them about their insurance policy, and find out if they’re licensed in their field. 

 

6. Fix Drafty Windows

Drafty windows are a common problem for older homes. While it may seem like a minor issue, a small gap means money is flying out your window. As you pay to heat your house in the winter or cool it down in the summer, that energy is escaping and likely costing you hundreds of dollars. 

If you have the budget, consider installing brand new energy-efficient windows. While this will be a bit of an upfront cost, it can save you up to 40% on your utility bills throughout the year. It can also improve the curb appeal of your home, as energy efficient windows are a top feature that buyers are looking for right now. If this isn’t an option for you, applying weather stripping to your windows is a cheap and easy DIY alternative.

 

7. Cancel Your Cable

According to the Canadian Radio-Television and Telecommunications Commission, Canadians spend an average of $52.58 on paid television services per month. That might not sound like a lot, but over a one-year span, that adds up to almost $631. That’s enough to purchase a few double pane windows!

In contrast, Disney+ starts at $8.99 per month, while Netflix and Crave plans start at $9.99 per month. Subscription services provide just as much value as cable, you can switch between them when you want to change things up, and you’ll save hundreds of dollars throughout the year. 

 

8. Bundle Insurance

Now that you’re a homeowner, you’ve likely gotten (or are about to obtain) home insurance. If you also have other types of insurance (such as car insurance, jewelry protection, or extended personal health), consider bundling your services. Insurance providers often offer significant discounts for each additional insurance product you purchase with them. Just bundling home and auto insurance can save you hundreds of dollars in a year.

 

9. Choose LED Lights

LED lights are more expensive as an upfront cost, but they are well worth the investment. On average, LED lights can last 25,000 hours. They outlast and outperform their cheaper alternatives, meaning there’s savings to be had in the long run. They’re also considered the eco-friendly choice as you have to replace them less frequently, so less waste goes to the landfill. 

 

10. Check Your Water Heater Temperature

As soon as you move into your home, check your hot water heater and lower its temperature to 55 degrees Celsius. Most people don’t use water hotter than this level, so it only serves to increase your utility bills for no reason. This is just one of many ways you can have an energy-efficient home, which costs you less money and is better for the planet. 

Now that you’re a homeowner, you’ll also want to educate yourself on the 10 home maintenance tasks that you should be tackling every year. Get started now so they don’t add up and overwhelm you! 

 ********************************************************************


Are you interested in selling or buying your home in the next few months? Work with award winning realtor, Carmen Leal and her team that specialize in Real Estate Vancouver and have qualified Buyers that are looking for a home in your area!   604.218.4846 & www.carmenleal.ca


                                                                 This communication is not intended to induce breach of existing listing agreement.