New Homes
New Homes
Purchasing new home now more affordable
The Bank of Montreal recently announced a five-year fixed mortgage rate of 2.99 per cent, the lowest advertised rate for that term by any major Canadian bank ever. Other banks and credit unions have responded to this with their own fixed rate deals, some a full point less than what they were previously offering.
Although this is being promoted as a short-term deal with additional restrictions, it does mean that qualified persons in the market for a new home are going to be able to take advantage of the savings like never before.
There are a variety of schools of thought for why the borrowing rate has decreased. The bottom line for consumers is that it has decreased, and fairly significantly. What makes this more dramatic is that for months we have been hearing from some sources that rates were going to increase when, in reality, the exact opposite came true.
Before going any further, I want to clarify that this change in rate has not made money easier to access; it has not suddenly become open to unqualified shoppers; and this is not some bargain basement sale to encourage Canadians to take on more debt. It is a realization that for those persons who are in a positive financial situation that enables them to purchase a new home, some financial incentive is being provided to do so.
The savvy buyer has the opportunity to create a payment schedule that fits within their existing comfort zone and to pay it off faster. For those concerned about their debt load over a period of time, this lower rate will permit the consumer to better stay within their means while continuing to save money for other expenses or emergencies.
In a competitive market, the consumer definitely wins.
This column has been espousing for some time that it was a good time to buy a new home. Manitoba new homes continue to increase in value over time, thereby making a new home a much less risky investment than many other ventures. Manitoba new homes are the best built and most energy efficient in Canada, also making them more healthy homes.
With the lowering of mortgage rates by various financial institutions, purchasing a new home has now become more affordable, another reason why now may be the best time to build a new home.
Mike Moore is president of the Manitoba Home Builders' Association.
New Homes
Last days to gain insights at unique show
TODAY and Sunday are the last two days of the Kitchen Bath and Renovation Show at the Winnipeg Convention Centre. The show runs today from 10 a.m. to 9 p.m. and on Sunday from noon to 5 p.m. If Friday's crowds are any indication, this may be the most popular show in recent memory.
This show has always kicked off the new year for home renovations and Manitobans lead the nation in that department. Manitoba is the only province where more money is spent on renovations than new home construction on a consistent basis. In that Winnipeg has the third oldest housing stock in all of Canada, home renovations are an everyday part of our lifestyle.
The Kitchen Bath and Renovation Show is unique in that it provides a free avenue for consumers to test the renovation market. The Ask a Renovator segment of the Manitoba Home Builders' Association booth is staffed with professional RenoMark renovators who are available to answer your questions about a job you may be planning or just dreaming about.
They are there to provide free 15-minute consultations to help steer you in the right direction towards an enjoyable and exciting upgrade to your home. Just come to the show and you will be able to pick the brains of one of Manitoba's finest renovators. Start your renovation off on the right foot with professional advice.
We are proud to feature Tommy Smythe, designer extraordinaire partner of Sarah Richardson. Last night, the Convention Centre theatre was packed and the crowd was thrilled with Tommy's presentation. Today at 1 p.m. is your last chance to see him.
The timing lets you come to the presentation and still be at the Jets game in time to see the puck drop. Tickets are available at Ticketmaster in the Convention Centre. Come early and stay late as your ticket to see Tommy Smythe also gets you into the Kitchen Bath and Renovation Show.
Tickets for the grand prize are being sold by volunteers from Variety, the Children's Charity. Tickets are two for $5, which enter you to win a beautiful kitchen package valued at almost $13,000.
The Kitchen and Bath Renovation Show is today and Sunday, so don't miss your chance to see all of Manitoba's best suppliers located conveniently in one convenient place.
Mike Moore is president of the Manitoba Home Builders' Association.
New Homes
Kitchen Bath and Renovation Show a winner
It's January and that means it's time for the annual Kitchen Bath and Renovation Show running from Jan. 13 through Jan. 15 at the Winnipeg Convention Centre.
This show has always kicked off the new year for home renovations and Manitobans lead the nation in that department. Manitoba is the only province where more money is spent on renovations than new-home construction on a consistent basis.
In that Winnipeg has the third oldest housing stock in all of Canada, home renovations are a very big part of our lifestyle. Nowhere else can you find this much product and expertise under one roof.
The Kitchen Bath and Renovation Show is unique in that it provides a free avenue for consumers to test the renovation market. The Ask A Renovator booth is staffed with professional Manitoba Home Builders' Association RenoMark renovators who are available to answer your questions about a job you may be planning or just dreaming about. They're there to provide free 15-minute consultations to help steer you in the right direction.
All you have to do to book an appointment is to go online at www.kitchenandbathshow.com and submit your name and preferred time slot. Then just come to the show and pick the brains of one of Manitoba's finest renovators.
Whether the job is big or small, whether it's something you're committed to or just thinking about or whether you're a do-it-yourselfer or looking for a professional to help, this is the perfect place.
The Kitchen and Bath Renovation Show opens on Friday, Jan. 13 at noon and continues until 5 p.m. on Sunday, Jan. 15. We are proud to feature Tommy Smythe as a special guest speaker in the Winnipeg Convention Centre Theatre.
Tommy, of course, is the well-known witty design expert who has partnered with Sarah Richardson for the past nine years. Don't miss Tommy Smythe Friday at 7 and Saturday at 1. It's rush seating, so get there early.
Your ticket to the KBR Show gets you in to see Tommy Smythe. The Kitchen and Bath Renovation Show is once again proudly presented by FloForm Countertops.
There are also two fabulous raffle opportunities at the show this year featuring a combined $25,000 worth of prizes. Details are available on the show web site.
Mike Moore is president of the Manitoba Home Builders' Association.
New Homes
Celebrate season by thinking of renovating
With all of the hustle and bustle occurring this time of year, it may seem odd that I'm talking about renovations, more planning and detail and spending money. However, when you think about it, this is the perfect time to get those creative juices flowing. Opportunity is never greater.
Whether it's celebrating Christmas, New Year's or any other occasion, this is the time of year that we all go to numerous house parties. It could be a dinner, a drop-in reception or some other function, but we do quite a bit of visiting.
Every house visit invariably comes with a house tour. If it's a new house, you're going to see the latest in house design and there will be something that would be absolutely perfect for your place. If it's an older home, in all likelihood they've recently done a renovation that they want to show everyone.
Most house parties have a huge congregation of people around the kitchen area. That's often where the food and drink are located and, even if they aren't, we tend to gather there. Cupboard design, appliances, counter tops, sinks, tables and chairs and the big window outlook to the backyard all are conversation topics in that one room.
Everybody loves to talk about the kitchen and what can be done to make it a more useful and inviting room.
At some point in the evening, you are likely to need to use the bathroom. Without being overly nosy, you can't help but notice the low-flush or dual-flush toilet, the sink and faucets, the cabinets, a tub or shower and numerous decorating techniques.
If the downstairs bathroom is occupied and you're fortunate enough to be directed to the ensuite off the master bedroom, you'll also get the opportunity to see what they've done to another room of the house.
Invariably, upon being complimented on their lovely home, the hosts will want to talk about their renovation and the process they recently experienced. The plus side is that not only do you get great ideas from the hosts, but everyone else jumps in with their thoughts and plans too.
The next month is the perfect time to see what's out there to make your home even better. Take advantage of the opportunity to better prepare for your next renovation.
Mike Moore is president of the Manitoba Home Builders' Association.