Dealing with Contractors - Winter Cycling

Marina Bolletta FRI CRES REI ASP Broker of Record Mark Tavares Sales Representative 416 947 0777	January 2009

Happy New Year and Welcome to our January 2009 eNewsletter!

Industry experts are predicting 2009 to be the year of the renovation - with less new construction, more qualified contractors are going to be available for smaller projects. I've got an article for you to help ensure there is no miscommunication when you undertake your project.

I'm sure that many of you packed your bike away at the first sign of snow, but that doesn't have to be the case - read on for some tips on winter cycling.

Marina, Mark and Associates.

How to seal the deal with your contractor

King/Shaw

Once you've decided to hire a contractor for a home renovation, here's what to look for in writing, before the hammer hits the first nail.

Regardless of the size and scale of renovation, smart homeowners know that a work contract is a must. It helps ensure a good working relationship with your contractor by defining expectations and the scope of work. It can also give you legal recourse against damage, cost overruns and poor workmanship.

Key elements of a renovation contract

Here are just some of the things to look for in a contract, to ensure you agree on the details:

Work to be done - or not done. This section should detail, step-by-step, the specific work a contractor will do. It should also list any exclusions - what they won't do. Any work you're doing on your own (such as painting) or contracting to someone else (like an electrician or carpet installer) should also be specified.

Materials and services required. Your contract should list any materials, fixtures and finishes to be purchased by the contractor on your behalf (such as flooring, windows and appliances), specifying make, model and colour, and other details. Don't leave out services such as waste removal.

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Seven Tips For Winter Cycling

It's cold. It's snowy. But that doesn't mean you can't bike.

It is snowing outside; it has been snowing for days. But that hasn't stopped a lot of people from riding their bikes all winter, snow or no. Here is a roundup of some of the best tips from Planet Green and TreeHugger.

Dress properly.

Cycling is exercise, and you can get pretty warm. On the other hand, your extremities can get really cold. I once had a long winter ride in one of the coldest days in our City in years, I think about 20 below; I had my heaviest mittens and boots on but neglected to wear extra shorts or underwear, and you can guess what part of me almost got frostbitten.

Andy provides an excellent guide on the intricacies of dressing in layers and regulating temperature with zippers. He also points out that you "want to feel just a tad chilly when you start the ride, because you will invariably warm up over time. This does not hold true, however, for your feet, hands and face or neck-those areas should be well protected and warm from the start." -and those other extremities that caused me so much embarrassment.

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Ten reasons to invest in a Tax-Free Savings Account

Investment income, including capital gains, earned in a Tax-Free Savings Account (TFSA) are not taxed.
Any resident of Canada 18 or older can open a TFSA.
You can currently save up to $5,000 per year in a TFSA.
Unused TFSA contribution room can be carried forward to future years.
You can withdraw any amount at any time, for any reason. All withdrawals are tax-free.
Any amount withdrawn in a year can be put back in a TFSA because it will be added to the following year's unused contribution room.
Neither withdrawals nor income earned in a TFSA will affect your eligibility for federal benefits and credits that are based on income.
You can give your spouse or common-law partner money to contribute to a TFSA without that money, or investment income earned on that money, being attributed back to you, and TFSA assets can be transferred to a spouse or common-law partner upon death.
You can set up a TFSA and begin saving as soon as January 2009.
There is no age limit by which you must withdraw your savings.

For more information, go to the Canada Revenue Agency Web site.

- News Canada

Market News

Mid-Month January GTA Housing Resales at 888

TORONTO, January 19, 2009 - Greater Toronto REALTORSŽ reported 888 sales during the first half of January compared to 1,776 in the first 15 days of 2008. "According to Statistics Canada the economic situation throughout Canada changed noticeably over the past year with job losses in the fourth quarter of 2008.

Toronto is not immune to this, the GTA housing market has been impacted," according to TREB President Maureen O'Neill.

The average GTA price mid-way through January is $332,495 from $367,574 during the same period in 2008. The median GTA price was $301,000 compared to $316,000 last year.

"While sales have declined, listings have remained high. GTA home buyers have benefitted from more choice," explained Ms. O'Neill. "Historically, increased choice in the marketplace has equated to a moderation in price growth."

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The Rental Corner