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r2~T ~kvH jlo NEWS & INFORMATION Ae"' Buying that DREAM Vacation Home The excîtement of the holidays are over, parties are done, gifîs unwrapped and al' you cao A morîgage on a vacaît îhînk about îs getîîng away - mayhe somnewhere-warmi - where pou can relax and beat the wîinter have but up equîîy rn blh.You have met people who own their own vacation homes and have longed for a retreat of refinance or a home eq yourown.Slep 5 For mosi Canadians, a vacation home was a rusltc cahîn or cotlage up norîh, but there are Fînd a ceai estate agen many more options avoulable îoday încludîng beach homes, ski chalets and destination dwelltngs. hînng an expenienced The choîce can he a location near your main resîdence, an international destination or esottc locale how many years iheypi - -where you hoy wtll lîkely depend on your hudget and yoacr personal preference, comlçtrable lrusttng th Today many find ihat having a second home to go to cuis clown on a lot ol the hassie of vaca- 'uep 6 JEE titons such as hindîng a place to sîay fI may acîuaily cul dlowo the coits of vacalioning - itîchens Ioveseyhgabu MAHANNAH mean a lot of money saved when you no longer hase to eat oui îhree nteais a day! Lou can ersohngabouetj OMORB P~di As well, savvy investors are reafîzîng that îhey cao use their vacation homes as reniaI properties iii mind markset fluctua as wefi as forîtheîr own recreaîîon. Your dreams are plenîy andyour reasons could bc manp. fi could lovesimeni properties- he that you lookîng to find that perfect spot for a famîly vacation, înîeresîed in îovesîîng in a rentai prîîperly and/or lois- your pr.sperîy. .ngîo the future for your retîrement. A lot depends on your preference, how you speod your free lime and your budget Se Whaîever your motivation, here are somte îîps that wîlf bel p you make ' »right purchase for you. Cser ho o t Sîep 1 hrs that cao aise cari Compile a lisi of potenîtal locations. Stant wîîh p laces you have enj, sitng for pasî vacations, and mos-e on Se to locations ihai interesi you. Spend a couple of weeiss there, preferabiy in a home rallher thait a hoîef, to ceai i St expenience the fîfestyfe. (tnderstaod the tan îm~ Sîep 2 il caîegonized as an toc Research the area. As the lorais why îhey lîve there and if the tounse season becomes a probfem. ftiftaze fnternet re- ees, hccol sources to save lime by comparîng second home options, tas information and issues cîîncernîng local goveroment. Stp Stp3 [ast, but no(i easîl Yo Consîder the type of second home you wouid ise to boy Decîde on the lîfestyle you desîre. Real estate s flot ousi n no order about location, uts also about învesîîng in a wvay of file. Sngfe.famîiy homes requtre more mairtlnaoce b ut itlier Bucinr tg a vacation hoît more p.îvacy, whîle condominiums taise care of maintenance issues but charge fees and offer îess pnivacy Mor îîîaig aoy sudden aîrustwoctity professionai Don't forget that you wîff also have to insure the pioperty titis iovssof fa great ceai es Step 4i ri-cl i l s t\'k I ,ct prr.ipprLlcrd toc t tîtrîgýige i)1trttdtttrg 'ns %i% 11 . >u s\'ic c.t 'ii pi i ii c, c-ti sIl i. .11011 whaî a lender is willing 10 gise ycîu for a vacation honte morigage, on propenty îypîcalfy bas more restrictions thon a mortgage on a principal resîdence. If you iyour home you can ofien use those resources 10 purchase a vacation pcoperty îhrough a uîîy fine of credît. iDoîng your owo iegwork is esseottaf 10 buyîng the second home thaîb nighî for you, but prolessional can make your search easier. sk how many vacation home listings îhey hase, e worised iv the business, and wheîhec îbey hase a partîcular specîafîy. Maise sure you ce e person ycîu choose wîîh your search. the seconîd home pou boy is important toi choose a lcocation, type of home and lîfestyle that py for pears ici come Fven il youc second hcome is înîended as an tosesîmevi ptoperty, ieep titons and the ladt bat pou niay have ibis hcîtue il nio one else wants to cent tl or boy il. Foy - maise sure that belote ycîu bîîy sou checis c, sc if thee are ans restrictions on centîng out i maîntaîn the vacatiosn property îhcoughouî the year. (et refecences of rentai management of maintenance, upiseep and rentais when pou are nul there plicattios if you maise a vacaîtion home asaîlable for cent lot more thon 14 days in a yeoc, is omne properîy caîher thon a resîdence? You'Ii be payîng taxes on the net renialiîncctme aller iîump vîtu int the vent tan braciset. u ce docîn yocir hîîmeworis pucchased yout dceam vacation home -noux maisc'iour escape vacaticon home ne can bc sers' tessaîditg, hoth personaill and financîaiis, but ittc certainis a big decistool tîtoses, taise the lime î.î engage in sortie îhîîccuglî reseaccb o'ýrganîz:e ycotr finances and citocse Dont iorget one ci pot muore ttttpcîrtaot resuces plyut local c)MDRFB RF 5(1OR® th'o tale agent in clour pceferred traott tnas bc ablc 10 rc'clttnrnd a local specialist thrcîugb heui Your local REALTORS LIVE, UIVE & PLAY la the Neighbourhood too! Established in 1954, The Oakville, Milton and District Real Estate Board (OMDREB) serves Oakville, Milton and surrounding communities with more than 1,800 REALTORSO. Members of the association may use the REALTORe trademark, which identifies them as real estate professionals who subscribe to a strict code of ethics. The association operates the local Multiple Listing Service@ (MLSO) and pro vides ongoing professional education courses for its Members. OMDREB Realtors8, care about creatîng a better community and partîcîpate in the 'Every REALTOR Gares' program which supports shelter-based initiatives. Your OMDREB REALTORIR can pro vide you with the data and services you need to make informed real estate decisions. Advertisements of local MLSO property listings and information about the services pro vîded by a REALT0RP. can be found at www.REALTOR.ca. For more information vîsit wwwomdreb.on.ca or call OM0REB at 905.844.6491 Think of your house as a system À house is made up of compo- nents that work tugether to tomsn an integrated system. The per- formance of une compornent depends on its relationship with other cmponents in the same system. Your home's ventilation and heating components, con- struction unaterials, their asscm- bly and the bebaviour ut the peu- plc living there ail interact - a change to une affects aIl others. Changing une compunent of a house without considering how it influences other components and the entire house system can waste energy and muney. This faîl, as we prepare to face another "fresh" Canadian winter and ail the utility bills that go along with that, take a moment to think about the system in your bouse and how you can create efficiencies to save you money and help the environment: l nvesting in a high clficicncy furnace is a great idea, but it will have to run a lot longer if you have pour weatbcrstripping around windows and doors and insulficient insulation in the walls and attic. lnvest in proper air sealing and insulation levels, and watch your savings soar; 0 New high-cfficiency windows won't pre- vent condensation problems if they are improper- Iy sealed or insulated, the humidifier un the fur- nace has flot been adjusted or if kitchen and bath- room exhaust fans are rarely used or are improper- ly ventilated; * A properly functioning home incorpurates air tightness and good ventilation. You can have those systems tested by a certified EnerGuide energy advisor who is certified by Natural 2010 Board of Directors: A\..: K.înjec DiîeCîorI0, llcatiier FlilleN Dirrciîr, iirivt Dîrectoi. iack-. MýcCîucldcn Prcsideini Elect, Aluin Evants Dirctsr, lil \li.nnh Pîiclu ViîJre îeitfiii 1\liîrrison l'ast President, Aleux Cocibo, D)irecio, Gleicu [bornas Dirccitoi Resourccs Canada. Hc or she mnakcs sure that any rcc- ommended upgrades will take both thesc factors into account as well as other components uf the bouse as a system, thereby ensuring the health and safcîy of you, your family and other dwellers in the home. You can find a licensed EnerGuide advisor in your epigoFnYu area by visiting www.newhomes.nrcan.gc.ca or cail 1- 800-387-2000 to order publications. wwwnewscanada.com +UAbtOlIIedffdy The Oakville, Milton