Finding a Reliable Contractor

A recent conversation with our friends Matt and John King from Kingsgate Construction inspired us to speak out about various ways you can reduce your risk when hiring a contractor.  There are SO MANY horror stories of people being drained of their life savings by contractors who never show up, don’t finish their work or do a terrible job that needs repair and we don’t want you to get stuck in that position. THE DEPOSIT SCAM This is the BIG ONE –contractors requesting substantial deposits upfront before any work has been completed.  This is a BIG red flag and you need to investigate further.  Small contractors may not have the cash reserves or credit to purchase materials and front the money for labour so there are exceptions but, if this is the case, you are doing them a favour by helping them grow their company so they should also be accommodating in finding creative ways to go about payment. Perhaps you can go with them to the hardware store to pick up materials and pay the store on your credit card directly (a few extra Airmiles would be nice!), perhaps you reimburse them once the materials arrive at the job site and you can verify delivery. Whether working with a large company or a small company, a strict payment structure should be agreed upon prior to any work completed.  An example would be providing periodic payments such as 20% of the total, one-week into a 5-week job, etc.  Figure out a plan that works and make sure everyone sticks to their part of the contact, that means the contractor provides the work they’re hired to do and you pay on-time. REFERENCES References are always a great idea to source out but getting creative and finding references other than the ones your contractor provides is a good idea.  See if you can get in touch with their clients on job sites they’re actively working on, knock on doors and meet people in person. REVIEWS AND RESEARCH The internet is a wonderful thing.  Go to Google, type in the company name and see what comes up!  Sweet and simple.  Check out their Google reviews, Houzz ratings, Facebook recommendations, etc. The one challenge you will find is that most trades are a form of art, laying brick, plastering drywall, painting and carpentry take skill.  Not everyone can do a great job and those who can do a great job may not be good on the business side.  And, pretty well consistently, you do get what you pay for. Looking for a contractor to do some odd jobs around the house?  Consider these often neglected home maintenance items to keep your home and family in check and safe. WATCH MORE OF OUR CONVERSATION WITH KINGSGATE CONSTRUCTION BELOW OR LISTEN HERE

Bidding War Basics | How to Win a Bidding War When Buying a House

Even in slow markets, if you’re looking at a very desirable home, multiple offers are a possibility.  Never let the idea of competing against other buyers scare you off from taking a shot at it.  Just because there is more than one offer doesn’t mean the house will sell for more, or much more, than ‘market value’.  One of the first things a confident buyer will do to improve their offer when competing against other offers is removing conditions.  This is a great tactic but one that comes with risks, consider this: Mortgage Pre Approval If you intend to forego including a condition allowing you to go to the bank to finalize the details of your mortgage approval, you better be one-hundred percent confident that you will get approved and if there is any chance that you may not, be certain there are other options available to you such as family, private money, co-signers, larger down payments, etc. Be sure to be working with a reputable mortgage broker, not that sketchy guy your brother referred you to that can get your mortgage approved and replace your car’s transmission at the same time.  Have the broker (or bank representative) complete a legit approval, reviewing all of your personal documents such as your proof of income, pull a credit cheque, etc. and get a pre-approval letter; this can help when convincing a seller to seriously consider your offer.  Verbal approvals where the mortgage agent/broker takes your word for it that you make $100,000 annually without asking for proof are ALWAYS going to run into complications. Home Inspection To inspect, or not to inspect…  Most first-time buyers prefer to complete a home inspection due to a lack of experience and the need to feel comfortable moving forward, which is completely understandable. However, if you find yourself losing in competition consistently, consider the idea completing an inspection before the offer, shortening the inspection to one day and scheduling it in advance or calculating the risk of removing it altogether. Different styles of properties will have varying degrees of risks.  A two-storey home with a basement will have a foundation with potential cracks and water leaks to look for as compared to a three-storey townhouse that’s built on a concrete slab.  A home that’s less than one-year-old should come with a fairly comprehensive Tarion warranty that offers peace of mind.  Some homes built between 1995 and 2007 could have Kitec plumbing, etc.  Understanding your risks and potential costs of repairs will help you in deciding what to do. There are lots of other conditions one may want to consider including in an offer –or not including if you want to be more competitive.  Things like time to verify reasonable insurance rates, pool holdbacks, warranty on included chattels and buyer revisits are just a few.  For more information or to chat with our team about buying a house, whether in a couple of months or a couple of years, email us today at info@kormendytrott.com ************************************************************************************************************************************* Ariel Kormendy and Adrian Trott began their business as real estate agents in Milton, Ontario.  They have since grown the team, employing multiple licensed Realtors, full-time support staff and an in-house media department.  The award-winning and top producing team expanded their services to the GTA and surrounding areas and have gained a tremendous reputation as being knowledgable and game-changing in the industry.  To learn more about the team, follow, like, listen and watch us on Social. FACEBOOK | INSTAGRAM | YOUTUBE | SOUNDCLOUD

Top Ten Most Neglected Home Maintenance Items

Based on our team’s experience buying and selling houses, we have compiled our list of the TOP 10 most neglected home maintenance items that you need to check off of your list: Smoke and CO Detectors We’ve been in a lot of 30-year-old houses with 30-year-old smoke detectors … insert hand slap here!  Smoke and CO Detectors have a lifespan of 10-years at most.  Over time, the sensors will degrade and be less effective, making the device less reliable.  Newer units may come with built-in reminders to replace it, typically with an audible chirp.  If you should have a smoke detector on all levels of the house, within 5-feet of a stairwell and a CO detector outside of all sleeping areas but we’d suggest going one step further by adding smoke detectors in all bedrooms as well and have a CO detector on each level. Replacing the Furnace Filter Furnace filters should be changed regularly!  From our discussion with multiple HVAC professionals, the general consensus is to use cheaper filters and replace them monthly.  Many of the high-end filters are filtering way beyond what most of us require (extreme allergies being an exception here) and they also restrict airflow more than cheaper filters, which makes your furnace fan work harder to move air.  If you’re a landlord, consider providing your tenant with filters to encourage proper maintenance or even do the replacement yourself to ensure it’s done properly. Service Your Furnace and Air Conditioner Servicing your HVAC equipment annually will not only extend the life and increase the reliability of your furnace and air conditioner, but it will also add value when selling your home –just make sure that your Realtor includes marketing to educate buyers as to how well you’ve cared for the house! Replace Exterior Caulking Exterior caulking around windows, doors and penetration points like bathroom and dryer vents, electrical and gas lines, etc, will dry, crack and become less effective with time.  Once a year, walk around the house and see how pliable the caulking is.  If it starts to get hard and you see cracking, it’s time to replace it to ensure you don’t have any surprise water penetration into your house as well as ensuring that you’re keeping all of the hot or cold air inside the house instead of heating/cooling the outdoors. Remove Lint Before it Catches Fire Lint is a common cause of house fires.  Replace lint buildup in the dryer’s lint trap, pull the machine away from the wall, disconnect the vent from the back and vacuum everything up.  Finish that up by heading outside and making sure that the exterior vent is clear. Check Your Attic Before finding a stain in the ceiling, poke your head into the attic to make sure that everything is in good shape.  Windstorms or companies spraying new insulation into the attic may block soffits, preventing adequate airflow into the attic.  A lack of airflow will cause mould over time.  Pesky rodents looking for a home may consider your attic the perfect location too and look to see if you’re able to confirm that bathroom vents from the level below are venting out the roof properly; over time, ductwork may become loose and fall down, resulting in your humid bathroom venting moisture directly into the attic … another cause of mould. Prevent Washing Machine Leaks Did you know that the hose running from the faucet to your washing machine expire?? Basic hoses typically last 5 years, nicer braided lines will last longer and both have expiry dates stamped on them.  The same goes for your dryer if it has a hose connection for a steam function. Shut Off the Main Water Supply During Your Vacation Before leaving for your vacation, or even a night away, shut off the main water valve to the house and bleed the lines by opening a few fixtures.  An unexpected leak, while you’re away, could completely ruin your entire house and personal belongings. Open and Close all Waterline Shutoff Valves Periodically You should also be opening and closing every water shutoff valve in the house periodically to ensure that they aren’t seized.  A seized valve could result in serious damage when a flood occurs and you’re unable to quickly turn the water off at the fixture.  Every toilet and every faucet in the house will (SHOULD!) have valves connected.  Look in the vanity and behind the toilets to find them, shut them off completely and open it again to ensure it functions properly. Test your Sump Pump If your house is equipped with a sump pump, testing it occasionally is important to ensure it’s working when you actually need it. Some houses may be more prone to noticing the pump functioning than others due to grading and water drainage but everybody should test it.  There are typically two ways to test the pump.  One is to lift the float or the arm it’s connected to until the pump turns on; the other method applies to pumps that plug into a secondary plug that controls the pump.  If you see two plugs connected in the socket, remove the secondary plug and insert it directly into the receptacle. There you have it!  Our TOP TEN most neglected maintenance items summed up.  There are many reasons to take care of these things; from properly maintaining your home to protecting your family and increasing property value, there are plenty of reasons to do it. ************************* The Kormendy Trott Team is an award-winning and top producing team of real estate agents servicing the GTA and surrounding areas.  Originally starting by exclusively selling real estate in Milton, Ontario, the team has grown, expanded and now offer their value-driven and exceptional service to the rest of the GTA.  From Sonos speakers and Arlo video cameras to in-home print marketing, your home will shine among the competition.  Learn more about them on social and email us to chat about your plans to move at info@kormendytrott.com For the best in