Renovation & Design
Renovation & Design
Study finds Canadian household debt stabilizing
All of us operate on a budget, whether it is a hard-and-fast detailed plan or a spending pattern that expires when the money runs out. Larger cost items such as a house or a car generally demand more planning as outside financing is often required. The Altus Group recently published some interesting data from a study regarding Canadian spending habits.
Expenses related to shelter (mortgage payments, rent, condominium fees, repairs, maintenance, property taxes) are the largest expense category for the average Canadian, followed by transportation and food. Combined, they account for about 60 per cent of expenditures. Shelter is just over 25 per cent (33 per cent for those with mortgages, 17 per cent for those without). It is interesting to note shelter costs are highest for those under 35 and just starting out; experiencing a gradual decline through the empty nester years, and then increasing again among seniors. Note this is a percentage of consumption dollars spent, thereby showing the increase for seniors due to a reduction in dollars spent on other items. On the other hand, seniors rank lowest in owned homes with a mortgage.
Each age group experiences different pressures relating to their spending patterns. Although shelter is generally the largest single item, the study also considered household operations, recreation, clothing and accessories, health care, household furnishings and equipment, education and personal care.
Once big-ticket items have been satisfied, Canadians exhibit greater restraint in spending on other items. Household debt (consumer mortgage and credit liabilities as a ratio of personal disposable income) peaked in 2012 but seems to have stabilized this year and seems to be progressing at the rate of income growth.
Canadians are also showing effort in paying down their mortgages faster. In the survey, one out of every four respondents said they made extra payments against their mortgage in 2012 and 80 per cent indicated they will do so this year. This group doesn't even include those who have built a prepay or increased mortgage payment into their schedule. Many of these people are taking advantage of lower interest rates now in order to ease their payment amounts when they have to renew.
Planning and budgeting personal consumption expenses at all levels can make the transition into home ownership or the step-up in home ownership to a new home a much easier process.
Mike Moore is the president of the Manitoba Homebuilders' Association.
Renovation & Design
Leftover paint great for accents
When your d©cor project is done, you'll most likely have leftover paint. You'll want to keep some of it for touch-ups but still, there will be lots of paint left, which carries lots of possibilities.
Since the paint will be in the colours of your updated d©cor, using it to create accents makes a lot of sense. The creative possibilities are endless. You've got the paint anyway, so it won't cost you anything to try your hand at a truly unique personal touch.
Here are some ideas to get you started:
Paint the inside back panels of bookcases or shelving units in an accent colour. The accessories on the shelves will pop with a bright colour behind them. If the entire bookcase is dated, then consider painting the entire unit still using an accent colour on the back panel. You could get creative with a cube-style shelf by painting each shelf panel in a different, co-ordinating colour.
Update the inside of a closet using leftover paint. If you find it dark then use a lighter colour to freshen up the closet.
Spruce up a flea market or garage sale find using leftover paint. Perhaps you found a unique accent table that could work in your space, for instance.
If you have enough of one colour, you can try updating kitchen cabinets in a fresh new colour. Use leftover primer to make the treatment last.
Small items such as wooden picture frames, storage boxes, mirror frames and wooden curtain rods can all be transformed with paint and repurposed in your updated d©cor.
Sometimes, painting only parts of furniture can update and refresh it. If you have a dated dresser, paint the drawer fronts in a different colour than the rest of the piece to give it a new look.
Mix colours to create a new colour. Start with small batches until you get the colour you want then mix larger amounts to use on walls. If you only need a bit of a new colour then stick with the small batches to update d©cor items.
Use leftover paint to give an old door a new lease on life. A fresh colour on the interior of a foyer door can brighten up the entryway.
Wooden shutters can also be revamped with a coat of paint. Lighten dark shutters or darken light shutters.
In the bathroom, update a dated vanity and medicine cabinet with a new colour. Use a primer to keep the finish durable and long lasting. Add new hardware to finish the look.
Paint clay flowerpots so they will co-ordinate with your new d©cor. Consider adding stenciled patterns to the pots for interest.
Paint a floor cloth using leftover paint. It can be hung on the wall as simple art or used as an accent mat in the home. Paint dated brick with a funky colour to make it current. I used leftover ceiling paint to revamp a dated brick wall in my kitchen.
There are lots of ways to use leftover paint. When you have an urge to be creative, consider the possibilities and go for it.
connieoliver@shaw.ca
Renovation & Design
Throwaway furniture lives again
Yard-sale season has arrived and with it a treasure trove of potential.
Buying used furniture is a great way to add character to your home, but searching through stained coffee tables and outdated dressers can have you rushing to the nearest big-box store.
For Katrina Barclay, owner of Malenka Originals (malenka.ca) in Ottawa, those water-damaged tables are diamonds in the rough that have the potential to become your home's signature piece and the envy of friends and family.
Barclay developed an appreciation of furniture upcycling while living in The Netherlands, where painting and recycling old furniture is common practice.
"When we came back to Canada, I wanted quality furniture for our house and I couldn't find anything in our price range," she says. She scoured neighbourhood yard sales, looking for good wood pieces.
Follow these tips and transform your own yard-sale finds into works of art.
-- Shop for quality. Barclay looks for furniture that is well-built and made with solid wood. A telltale sign something is well-made are the drawers.
"I check to see if they slide well and if they have tongue-in-groove and dovetail joints," she says. Up until the 1970s, fine-furniture companies used dovetail joints, but mass production eliminated this detail.
Barclay also looks for a stamp in the drawers or under a table. "If it has a stamp, it was made with quality in mind," she says.
-- Embrace damage. Cracks and water damage don't scare Barclay. In fact, she gets excited about a piece with surface damage. "I'm going to cover that up anyways (and the damage means) I can usually get a good price. If the structure is good but the finish is damaged, that's perfect," she says. Clean the piece with soap and water and use wood filler to fill in any deep scratches. "If you have wood filler, some gorilla glue if any parts have fallen off and some paint, you can pretty much transform anything," says Barclay.
-- Replace hardware. Replacing handles can easily transform a piece. Barclay recommends removing handles and filling the holes with wood filler, then drilling a separate hole for a modern knob. She mentions a side table that had been left out in the rain at the end of a driveway.
"It was just destroyed," she says. Barclay snatched it up, painted it and replaced the antiquated knob with a modern crystal one. "It was one of the first pieces I painted and it's gorgeous. I've had so many people want to buy this piece, but I'm keeping it for myself to remind myself of how much something can be changed," she says.
-- Postmedia News
