Hiring your best buddy or favourite cousin to sell your home might sound like a no brainer. But you really need to examine your relationship and your own personality before signing on the dotted line.

When it comes to close friends and family members who are professional realtors versus engaging an agent you haven’t worked with you really have to know yourself,  what you’re willing to tolerate, whether you’re comfortable sharing your financial information with a friend or relative and how truly honest can you be.

Whether you hire your friend or decide to go with a realtor you don’t know, you run the risk of hurting your relationship.  Not selecting them is likely to hurt feelings and that may have a lasting impact on your relationship. Hiring them and finding fault with their conduct and ways can have the same impact. It’s kind of a no-win situation so you have to know yourself well and know what scenario you can most endure.

Clearly, there are definite advantages to taking on someone you know. The level of trust you already share is understood and established. There’s no need for awkward small talk and cliché platitudes allowing you to get straight down to business. Appreciation and compassion also come into play as your realtor/relative/friend will likely be extra grateful that you selected them and will hopefully return their appreciation with above-and-beyond service. Hiring a friend or family member could also benefit you financially if that person is willing to give you a break on their fees.

But there are definite drawbacks to hiring someone you know. Your friend or relative begins their relationship with you with a bias and that can lead to problems. Will your close friend tell you the colour of your front door is hideous and may possibly be a turn-off for prospective buyers? Will your cousin point out off-putting food smells that lingered during the open house? There’s a good chance that because these people love you, they don’t want to hurt your feelings so they overlook certain faults or justify them as trivial or unimportant. You want an agent who can be brutally honest with you and whose main goal is getting you the top dollar for your property.

That close friend or relative may also think they know what you need better than you do. They’ve heard you long complain about your noisy neighbours and they know the ideal property on a quiet street. The catch? The house is $50,000 over your budget. A professional realtor wouldn’t likely assume they know what’s best for you by throwing financial caution to the wind.

There are plenty of hot-button situations that can arise when buying and selling real estate and some lead to awkward, uncomfortable and sometimes heated conversations. Otherwise simple matters turn into emotional issues and dealing with a friend or relative can exacerbate the issue. A professional realtor can cut through the feelings and is more apt to focus on the business at hand: selling or buying your home.

As March progresses and spring appears in the offing, it’s still anyone’s guess as to whether the month will close out like a lion or like a lamb.

Given that our winter since January has been a rather cold and snowy one, and given that our heating bills are reflecting that, let’s look at ways to lower our energy consumption in this the final month of winter.

Furnace

Make sure your furnace is working optimally by inspecting its air intake and vents as well as filters. If you find debris remove it. This will assist air circulation and aid in the efficiency of your furnace.

Determine when your furnace was manufactured. If it’s more than 10 to 12 years old, you may want to think about replacing it. But pay attention to the estimated gas consumption of new models. If you can reduce your gas consumption by 20 to 30 per cent getting a new furnace may well be worth the expense.

Programmable thermostat

If you are serious about energy savings, these are a must. Dropping your temperature by a few degrees can make a big difference on your bill. Why bother heating your house when no one is there to enjoy the warmth? A programmable thermostat allows you to program when your heat comes on and how high or low it goes. For the tech nerd, consider Wi-Fi or smart thermostats, which allow you to remotely check and change your thermostat as needed no matter where you are.

Insulation

Your attic and walls should be properly insulated. Worn or old insulation will increase your energy bills. How old is your insulation?

Weather stripping

There are simple ways to check whether your seals are doing their job. Look for curtains that waver ever so slightly. A good way to check is by wetting your hand and putting it up to windows and doors. If there is a draft, you will feel the cold right away.

Let the sunshine in

Raise the blinds or open your curtains during the day to take advantage of the sun’s heat. Remember to close them at night to insulate against cool night air.

Remember what mom used to say

Your whole house need not be an oven for you to feel comfortable in winter. Think about padding yourself with a sweater or sweatshirt. That way, wherever you go in your home, you’ll feel comfortable even though the temperature might be on the cooler side.

Source:  www.energyrates.ca

Toronto has an abundance of neighbourhoods, some 240, unofficially in all, and knowing which neighbourhoods are on the verge of real estate glory can be somewhat of a challenge.

But there are pointers to look for and this blog will examine that as we explore ways in which buying real estate in the GTA is still possible even for the budget conscious.

Up-and-coming neighbourhoods or those on the cusp of being the next hot real estate pocket often start out as ugly, rundown districts bereft of the badges of gentrification such as young families and thriving commercial activity. Some are former industrial areas. The homeless or people living on the fringe reside there.  Others are just old, outdated and untended neighborhoods that could use an injection of charm and vitality.

About 15 years ago, that was what buyers thought of about Leslieville, Toronto’s tony east-end neighbourhood now known for vintage furniture shops, film studios and cafes. The then derelict neighbourhood needed more than a little TLC. Today, Leslieville real estate prices have reached those of Riverdale and the Beaches.

If you’re looking to get into the Toronto real estate market and have limited means searching out these neighbourhoods might be the place to start. Here are a few signs to watch for:

Following the operations of big-brand retail and foodservice chains such as Starbucks can assist you in determining whether a neighbourhood is worth investing in. The appearance of these often international brands is a barometre for a neighbourhood’s upward evolution. These commercial entities typically do their homework before committing a storefront so their appearance or the announcement of one is a solid sign that your neighbourhood is improving.

The big benefit to either moving into or investing in a neighbourhood on the rise is that if you get in early enough there’s money, sometimes substantial money, to be had.

The first step is to pick a neighbourhood that will gentrify in five to eight years. To do that, look for the early signs of improvement such as people moving into the side streets, fixing up their homes, and adding curb appeal.  Once that happens, the neighbourhood’s commercial district follows with the opening of lively looking cafes and shops. Keep in mind that established gentrified neighbourhoods often border emerging neighbourhoods.

The second pointer is that the neighbourhood must have some redeeming features. Curb appeal is critical. Victorian era homes are a good example of this. Their charm will appeal to younger buyers who often fuel the improvements in an emerging neighbourhood. Try to avoid neighbourhoods with unrelated housing styles that are rundown. That type of neighbourhood will have difficulty making the transition.

The third factor in trying to determine a neighbourhood ripe for improvement is to keep an eye on urban areas near main arteries that are close to transit. Naturally, you will also want to consider schools in the area, restaurants and shops, how walkable it is and other demographics, from household incomes, languages spoken and family types and sizes.

Owning real estate in Toronto can price many out of the market so it’s no surprise some would consider buying a home with a virtual stranger.

That’s the thinking behind co-ownership, a buying concept that is on the rise among non-intimate partners because it helps people get a foothold in the city’s prohibitively pricey market. Of course, your buying partner need not be someone you hardly know. Siblings, cousins, buddies and even co-workers might want to consider this communal approach to housing.

Buying with likeminded family members, friends or acquaintances is made much more feasible given the skyrocketing cost of real estate. But co-ownership also serves another need that’s not often talked about and that is the need to connect with others. Ideally, co-ownership set-ups fill social and practical needs that serve both sides. For example, an elderly single woman provides child care for a young couple, while the young couple oversees outside maintenance such as snow shovelling and lawn care. Or perhaps one owner walks the other’s dog, while the other oversees minor home maintenance issues that inevitably arise.

Naturally, it’s important to have meaningful conversations with your co-owner before jumping in. You will need to know about each other’s personal finances, future plans and make provisions should one decide to opt out of the arrangement at some point down the road.

Among banking institutions and the legal community, co-ownership is a concept that is in the process of being normalized. A few years ago, Meridian Credit Union, for example, launched its friends and family mortgage, which allows up to four people to be placed on title at no extra cost. And DUCA Financial Services Credit Union launched its More Together mortgage, which allows up to six individuals on title.

Communal or co-op living arrangements have existed in one form or another for years. Alternative living arrangements are what many single, divorced or widowed baby boomers seek as they grow old and reject the notion of large institutional retirement and nursing homes. Many seek companionship and a sense of community and find shared accommodations to be the ideal setting as they age.