The Saturday Weekly Review

Does your neighbours home improvement really affect your property value? : The Saturday Weekend Review #101

house property valueBABYSITTING THE PROPERTY MARKET

 

Your property value is determined by many factors and whether your neighbour paints his garage door pink or purple that has nothing to do with how much your home is worth.

Sometimes I can’t get over how some neighbours pick on each other for the silliest of things.

Earlier this year we talked about one of our neighbours who hardly ever cuts the lawn. We got serious about overcoming laziness as a homeowner and joked about renting a goat.

That was a legitimate complaint because there is a city by-law against leaving your lawn to grow to a certain height. Sure if the homeowner were to sell his house it may impact how much someone would be willing to pay him.

The house might deter potential buyers of other homes that are well-kept but for the most part I don’t think it would bring down property value of all the homes.

When a homeowner lets their home fall apart that’s when I’d start to worry but not if they are making improvements to the home and keeping the property looking good.

It becomes a pain in the butt when the neighbourhood patrol group picks on people for silly reasons and go to extremes to push them to sell because they feel un-welcome.

We even know of a couple of neighbours who installed state of the art cameras to film what their neighbours are doing and to make sure they don’t come on their property. Crazy isn’t it. I guess cameras aren’t just for the rich and famous anymore. I’m just happy I don’t have a neighbour like that.

 

Increasing your homes property value

 

Should you consult with your neighbours when you make improvements to your home?

Hell no! They aren’t paying the mortgage.

I was reading this story yesterday about Aleks Stevanov in Windsor, Ontario who is building his 500K solar house which is to code and meets all rules and regulations. Sounds great, but some of his neighbours don’t seem to think so.

When I read the article I thought to myself “here we go again with nosey neighbours“. It seems that just about every neighbourhood has one or creates one over time. Some can’t take change especially if they have lived in the neighbourhood for a long time.

Stevanov’s house is to include solar panels which will be able to run like it would for a small store once completed and act as the roofing system. Pretty cool if you ask me. If we were in our forever home and could afford to jazz it up to make it more environmentally friendly we would.

Some neighbours don’t seem to think this is what the neighbourhood needs because they are complaining that it looks like an eyesore and will lower their property value. If you know anything about Windsor then you know that house prices are very cheap to buy as it is.

I don’t think it could get any worse, besides he’s making improvements to the house not letting the home fall to pieces. The complaining neighbours also say it doesn’t belong in a residential neighbourhood.

My father-in-law said to me once that you can’t do anything on your property without one neighbour who thinks you must consult with them first or who must have their say whether it’s approved for the neighbourhood. Please!

A couple of houses in our neighbourhood currently have the solar panels and no one gives a rats about them. In fact house prices where we live have been going up. Since moving in our home just over 5 years ago our property value went up and we are able to sell our home well over $100,000 more than we paid for it.

We also have a neighbour who took a home they just bought and put a $100,000 dollar addition on. It looks odd compared to the rest of our homes but none of us seem to care. They needed a bigger home and they had the money to make it happen.

A couple of neighbours are critical about it saying they will never make their money back since comparable homes on our street are not valued so high. Remember though that it’s all about who is willing to pay as the assessed value is just a starting point.

Another home on our street that is a smaller home sold for just under $500,000 5 years ago because the previous owner did a full home renovation inside. They didn’t even have to put it on the market as another neighbour bought it and sold their home in less than a week.

 

All about property value

 

How is property value determined?

I can assure you it’s not because your neighbour has weird statues on their front lawn or they put fake flowers in the ground so they don’t have to tend the garden in the summer.

**Location is the most important factor when it comes to property value.

MPAC prepares an assessment of your house based on many factors in your city and neighbourhood including home location. Your property report which is provided by MPAC will share with you the details of your property assessment but like MPAC says this is only the most probable sale price. Again a house is only worth what someone is willing to pay.

When house-hunting buyers may look for a property online or do a home search by looking in the newspaper. You’ve likely been told to go and talk to the neighbours and now I know why.

If you want to find out any dirt about the neighbourhood you might get lucky and find the King Pin who will dish it all to you. Most times this is a redflag so if you can’t handle bossy neigbours walk away.

Sure the solar panels aren’t the most aesthetic part of the house but they are generating electricity which is something more of us should be thinking about especially with prices being so high. The neighbours that are giving this guy a hard time saying it will bring down their property value wish they could save the money he will.

It seems property value is not understood the way it should be. A home will sell for many reasons mainly because of supply and demand, location, how the seller and buyer negotiate and buyer preferences according to MPAC and not because your neighbour has a metal roof and you don’t.

You only have to read the comments on the post to see how many readers are rallying behind Stevanov. His house might stand out but it will be the most efficient house on the block and while everyone else is creating a category for electricity in their budget Stevanov will be stashing cash away with a smile on his face.

I hope this all goes well for Aleks and if the neighbours really can’t stand to look at it they have options too.

Do you have neighbours who always have something to complain about?

 

Around our house and the blog

 

This week seemed to fly by likely because most of my week was spent in the shower again and at work. Here’s what happened… my wife went into labour just after I put grout on the tiles. So if you are familiar with tiling you can only imagine the disaster I’ve been dealing with here.

There’s not much I can do about it, junior just decided to show up when he did and the renovation got caught in the middle. I have the glass guys coming on Monday to measure to fit the door. I’ll be ripping the old shower out next week and moving the toilet, finish cleaning the shower and tiling the outside of it. When that’s done I’m only a part of the way done the renovation. I’m still happy I chose to do it on my own.

We made a trip out to finish our Christmas shopping which consisted of about 3 gifts plus one for good friends of ours. I decided to stop into Marks Work Wearhouse last night to take advantage of a couple of coupons I had which saved us $30 off our bill. I bought lots of socks for the wife and I plus for the two secret Santa gifts we had to buy. Everyone loves socks right? 🙂

While at Dollarama we picked up a Christmas stocking for our son which we will hang by the fireplace with care. The wife and I were talking about starting a Christmas tradition every year and buying him a tree ornament. As he gets older we could invest some RRSP’s for him at Christmas.

I’m hoping this will inspire him to get the ball rolling early when he gets the opportunity to put money away. I’m just not sure where we can get custom Christmas ornaments done with an inscription on the back. Do you have any ideas?

Well, that’s my week. My holidays begin as of the 22nd of December and I’m off for a whopping 11 days. I don’t think I’ll be blogging as much because I’d like to spend time with our family. We rarely get this opportunity so I want to embrace it.

Come January I won’t be home too much as I take on two full-time jobs and the blog so I’m working hard now to cut down on some of the work-time in January.

How was your week?

 

CBB blog posts this week

 

Just in case you’ve missed any of my blog posts this week I will link to them all below. If you have a question that you would like to ask Mr.CBB fill out the contact Mr.CBB form on the Home Page and send in your questions. Mr.CBB will look in his mailbag weekly and pick a question to answer on the blog.

 

Fan deals and inspirations

 

Submit your Brag or Inspiration If you have a brag that you want me to share email me at canadianbudgetbinder (@) [yahoo] [.ca] or fill out my contact form by Friday each week to have your brag considered for the Saturday post.

Black Friday Coupon Haul Canada

This week CBB fan Christine shares her Black Friday deals!! Check out her smart shopping and hopefully she inspires you to save money while you shop.

Here is my shop for the Black Friday promo at our local drug store. Jackson’s Pharmacy is part of the Guardian chain and they have a points card like that of Shopper’s Drug Mart Optimum plus program.

I save my points all year so I can use them to shop for Christmas and I try to take advantage of any extra points promos they have. In this case things were tied to the time of day, the earlier you shopped the more points you got back.

Between 7am and 9am it was 25X the points! Some things were on sale as well and I’ll put the amount saved in brackets after the entry.

  • 2x Lindt chocolate bars- 2/5.00(1.49each)
  • 1 Turtles 3 pack- 1.19
  • 1 M&M mint candies- 5.99
  • 5x Russell Stover chocolates @1.49- 7.45
  • 1 pack Halls- 1.99(1.20)
  • 1 Crayola sticker set, Cars-8.99
  • 1 Crayola giant colouring pad, Planes- 5.99
  • 1 engraving picture set- 2.99
  • 1 63piece 3-D puzzle, Planes- 5.99
  • 3x Pantene shampoo/conditioner sets @2.99- 8.97(12.00)
  • 1 Toblerone bar- 1.79(1.20)
  • 1 Keri Lotion- 4.99(6.00)
  • 1 body sponge-1.79
  • 1 Penguin lip gloss, Raspberry- 3.99
  • 2x Dove body wash for Men@ 3.49- 6.98
  • 2x Softsoap body wash @1.49- 2.98

With tax the total was $87.07, minus 28,922 points worth $57.84. The sale items I picked up saved me $23.38 so OOP was $29.23 and I got back 19,275 points worth $38.55! I love this program! Unlike Shopper’s I don’t need to have a set amount to cash out my points, I can do it anytime.

Five thousand points is worth $10.00. I can check how much I have in value simply by dividing by 5. I know my grandson will love those Cars and Planes items I got and most of the rest of the stuff will be stocking stuffers here added to other free/cheap goodies I have stashed away.

—Christine

 

Making A Difference

 

If you know a personal finance blogger that is making a difference and want to nominate them please send me an email canadianbudgetbinder (@) yahoo.ca so I can reach out to them for a feature story.

 

Budget and the Bees

Hi CBB Readers

My name is Natalie, and I write over at Budget and the Bees with my friend, Cat. We’re passionate about applying our frugal ways to many aspects of our lives and sharing our stories along the way. Life keeps us busy, and we know it does you, too. That’s why we wanted to pull together our buzz-worthy life tips for busy bees.

Budget and the Bees is as varied as our interests and lifestyles. We often write about money because money is intertwined into so many topics! You’ll find posts on food, healthy living, organizing, travel, family life, photography, and more.

I’m a huge believer in balance. By this I mean that I strive to find a balance of all things in my life. A strong work ethic is important to me, but I won’t stop planning time off to travel to new places.

Saving money and repaying debt is important to me, but I won’t deprive myself of buying things that add meaning and happiness to my life. Eating healthy is important to me, but I won’t cut my grocery bill by sacrificing the quality of what I consume. You won’t find extreme views or instructions on how to save every penny you get your hands on because that’s just not how I live.

I also know money is a deeply personal topic. It can be messy and complicated at times, and a one size fits all approach doesn’t fit all. I strive to offer practical tips you can get behind. By relating money to many facets of life, my hope is that you can take away the ideas that work for you.

We’d love to see you over at Budget and the Bees! You can even “Ask the Bees” a question to get our take on almost anything!

 

Top recipe

 

Christmas breakfast casserole

If you don’t already know I have a second Facebook page called The Free Recipe Depot where I share recipes from other Food Bloggers from around the world.

From now until the end of the year I will be sharing holiday recipes with all of you!! Today my friend Jessica at All She Cooks shared this delicious looking gluten-free Christmas Breakfast Casserole.

I know many people who enjoy a nice hearty breakfast with the family on Christmas morning without all the fuss. This is great because it’s done in one pan and then you can enjoy opening gifts with the family while it bakes.

 

Editor’s Pick

 

Every week I will pick a blog post of the week from around the web that I found interesting and want to share with you and an Editor’s top blog post pick.

Editor’s blog post pick of the week goes to Lance at Money Manifesto where he talks about why we may need more than 4 million dollars to retire. Yes, you read that right and I did the same thing thinking there is no way I’d have that kind of money when I come to retire.

Depending on what the inflation is like when we come to retire Lance could be correct in saying we need big bucks. To some people one million dollars seems like lots of money but in 30 or 40 years that might be pocket-change to the average Canadian. It all depends on your lifestyle, where you live and what you expect from retirement. Having debt in retirement also plays another role.

 

Google search terms

 

Every week I get thousands of people visit Canadian Budget Binder because they did a search online and found my blog. Keep in mind any spelling errors below are because I share with you the exact way they typed their search engine query to land on my blog.

  • How to save Canadian money for an American wedding- Whatever works I guess.
  • Is it safe to buy clothes from Value Village?– No, the clothing monster might come out to get you!
  • I don’t have a quick reaction to rubbish quotes- Well then don’t say anything at all.
  • When your new husband spends your money– What’s yours is his and what’s his is yours….get used to it. Start communicating about money, you’re married!
  • Welfare diet recipes- So not only do I get searches for Welfare food budgets but now Welfare diet recipes. If only I could save the world from eating crap when they don’t need to. Put your money towards healthy foods and little by little you will build up a healthy stash to choose from in your pantry and refrigerator.

Thanks for dropping by and I’ll catch you next week!
-Mr.CBB

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