It may seem easy to hire any affordable contractor to install your new windows in your home, or to attempt the job yourself. The reality, however, is that even if your windows look good at first inspection, there are a number of devastating problems that can easily arise further down the road if you don’t get a professional to do the job.
Proper Functioning of Your Windows
Whether you’re doing a retrofit to match new windows into old frames or are starting from scratch with an entirely new build, an expert installation by a knowledgeable team is key to ensuring that your windows function as intended.
If your windows won’t open and close properly, then it should be obvious that things are going poorly during the installation itself. Slight errors, however, can result in function problems that develop over time – the worse the error, the quicker the problem will develop. The best solution is to find a window company in Ontario that offers professional installation directly from in-house experts.
Plain and simple, if you can’t see through your windows then they aren’t doing the job that they are designed to do. Foggy windows will also spoil the time and money that you put into giving your home a unique and elegant look.
While there is no avoiding a certain amount of condensation buildup at times when it is warranted – such as when the weather calls for rain or a high amount of humidity in the atmosphere – it should not be present all of the time. When you notice condensation developing between the panes of glass inside your windows, this is a sure sign of an improper installation.
When the caulking on your windows is poorly applied, it can give the entire appearance of your room a messy look. Unfortunately, the appearance of your windows is the least of your concerns if the job has been done badly. Caulking is not only added to give your windows a finished and sleek appearance, it serves the important purpose of keeping your windows sealed and water-resistant. Improper caulking can cause leaks and render your home susceptible to mold.
If you live in an area that experiences extremes in temperature through the year, it isn’t difficult to detect cold air coming in near or around your windows. A poor installation can result in windows that are not doing the job of keeping heat inside and cold outside, which can result in a large increase to your power bill. Buy your windows from a company that you can trust to avoid having this expense sneak up on you later on.
You may think you’re saving yourself some initial cost by going with an amateur to install windows on your home, but if that route results in one of these major issues then the expense will end up growing astronomically. In the worst-case scenario, you’ll have to pay to have the entire job done over or, worse, an inexperienced contractor could even end up doing further damage to your home.
RBC Adds Two “Severe” Risk Scenarios, Including Canadian Real Estate – Better Dwelling
Risk models from Canada’s largest bank shows a wider range of uncertainty for real estate. RBC’s latest models, shared with analysts this week, shows a general forecasted improvement. The downside hasn’t changed much, indicating a little more uncertainty. They also shared they are considering two new and “more severe” scenarios for energy and real estate. These downsides reflect the potential for a double-dip recession.
Macroeconomic Scenario Assumptions
Feel free to skip this if you’re familiar with IFRS 9 macroeconomic assumptions. For the rest of you folks, it’s a reporting standard used by most of the world’s banks at this time. One part of it requires assessing risk using unbiased, and possible outcomes. Typically you’ll see reports divided into three areas – base, best, and worst case scenarios.
The base, best, and worst case scenarios are exactly what they sound like. The base is what the organization will plan with, assuming things go along as they currently are. The best case scenario is if every banker’s wet dream comes true, and the economy is perfect. The worst case scenario is if every banker’s nightmare comes to reality, and it’s the worst realistic case. The organization needs to be ready for each of these scenarios.
The forecasts are used to prepare the organization for risk, so it’s important to be realistic. Too optimistic, and just a few hiccups can result in serious damage. Too negative, and they’ll be putting aside way too much capital, slowing the growth of the company. These aren’t just random numbers, but they’re considered reasonable outcomes. That said, let’s look at these scenarios.
RBC’s Base Case Shows Real Estate Rising 5%
Canada’s largest bank is more positive about the base case than they were last quarter. The base case forecasts prices will rise 4.9% over the next 12 months, from January 31, 2021. Compound annual growth of 4.5% is forecasted for the following 2 to 5 years.
RBC’s Canadian Real Estate Risk Scenarios
RBC’s macroeconomic scenario assumptions for Canadian real estate prices under various risk scenarios. Source: RBC, CREA, Better Dwelling.
This is a fairly big jump from the previous quarter. Last quarter, they were only forecasting an 0.6% increase over the next year. The market would see compound annual growth of 4.5% for the following 2 to 5 years. A more positive base case is typically a good thing. However, it may mean more uncertainty right now. We’ll circle back to this in a few seconds.
RBC’s Best Case Sees Real Estate Rising 8%
The best case scenario got small upwards movement, but it was still pretty big. The best case forecasts prices will rise 8% over the next 12 months. Compound annual growth of 11.1% follows for the next 2 to 5 years.
This quarter’s forecast is a big improvement short-term, but the same long-term. The previous quarter saw prices growing two points lower in the twelve month period. The following 2 to 5 years would see compound annual growth remain the same. Just so we’re clear on how optimistic this is, it would mean prices double every 7 years. That’s about as likely as getting a full-size downturn.
RBC Worst Case Sees Real Estate Falling Up To 30%
The worst case scenario for the next year remains the same, but the following years improve slightly. In the worst case, prices would fall 29.6% in this scenario over the next 12 months. Compound annual growth of 4.5% over the 2 to 5 years that follow. The 12-month downside remains the same, while the following 2 to 5 years are now higher.
Circling back to the two “severe” worst case scenarios, with energy and/or real estate. The indicators are still in the range, but these would imply a double dip recession. This is when one recession occurs right after another, after a failed recovery. In this scenario, they expect the economy to “deteriorate from Q1 2022 levels for up to two years, followed by a recovery for the remainder of the period.” That is, after the 2 years of down turn, things will bounce back, and recover by the fifth year.
The biggest takeaway isn’t the upside or downside, but the spread between the two. If looked at by itself, the increased forecasts for the base and best cases look like a huge positive. When you realize the downside is the same as the old forecast, you realize this isn’t necessarily a positive revision. Wider ranges of forecasts tend to mean a bigger degree of uncertainty as to where things are heading.
Like this post? Like us on facebook for the next one in your feed.
Corporate Real Estate Week set for mid March – REMI Network – Real Estate Management Industry Network
Corporate executives and officers are encouraged to reflect on the role their in-house real estate teams play in supporting business operations and workforce productivity during Corporate Real Estate Week, March 15-19. CoreNet Global, the global association for corporate real estate professionals, has planned a slate of virtual seminars, presentations and networking events tied to five different daily themes, and will also be releasing new studies and relevant data throughout the week.
“The pandemic has forced a reckoning with remote and distributed work that corporate real estate professionals were well prepared for, and it will be up to our profession to chart the way forward after the crisis has ended,” says Angela Cain, CoreNet Global’s chief executive officer. “Corporate Real Estate Week will be both an acknowledgement of those contributions and an opportunity to think strategically about the return to the workplace.”
More than 11,000 CoreNet Global members in 50 countries have been grappling with COVID-19-triggered upheaval in corporate organizations’ space and facilities management needs over the past year. With key responsibilities for choosing sites, ensuring safe and healthy accommodations and overseeing building and technical support infrastructure, corporate real estate professionals have experienced a surge of new demands and pressures to facilitate remote work and ensure the well-being of staff within company facilities, as well as sudden shifting priorities for office locations.
Asked to reflect on these new circumstances in a survey CoreNet Global conducted last month, 88 per cent of respondents project that offices will now primarily accommodate team or collaborative tasks, while individual work moves off-site. Accordingly, they expect workers will spend less than half the work week in a traditional office setting with the remainder spent at home or occasionally at a co-working location. Thirty-six per cent foresee a 10 to 30 per cent cut in their organization’s real estate footprint within the next two years, while 16 per cent are looking for satellite hubs located closer to workers’ homes.
For this year, 58 per cent of survey respondents projected a return to 50 per cent office occupancy some time after June. Fewer than 9 per cent reported that their organizations would require workers to be vaccinated before they returned. However, more than three quarters indicated that workers would not be travelling internationally until at least later in the summer.
More than half of respondents affirm that more credence will be given to the host locale’s crisis readiness and potential vulnerabilities when choosing a site. The same number expect a retrenchment of employees from other global centres to their home countries.
Vancouver real estate: new sales, listings below $350000 show pockets of affordability in expensive city – The Georgia Straight
Everyone knows that homes are expensive in Vancouver.
It’s one of the most unaffordable places in the world, where many residences are priced in the millions of dollars.
That said, there are pockets of affordability that remain.
Recent listings and sales show that one can own a home, a condo to be precise, for less than $350,000.
One example is a condo unit downtown that Royal LePage Sterling Realty listed on February 22.
The second floor unit at the Sequel 138 condo development at 138 East Hastings is priced at $349,000.
Sequel 138 was built in 2014.
The one-bedroom, 443-square-foot property has a 2021 valuation of $334,000 as of July 1, 2020, based on figures from B.C. Assessment.
RBC’s mortgage calculator shows how much it costs to carry a $350,000 mortgage on a five-year term, with fixed-interest rate of 2.04 percent.
It comes up to a monthly payment of $1,488.85.
That’s cheaper than renting an almost comparable studio.
A check with rental information site PadMapper shows that a 500-square-foot studio at 1188 Bidwell Street in the West End is available for $2,290.
In East Vancouver, Nu Stream Realty Inc. sold a one-bedroom condo for $346,000.
Unit 207 at 6991 Victoria Drive measures 465 square feet.
The property was originally listed for $299,000. The price was later increased to $349,000. It sold on February 3 for $346,000.
Per B.C. Assessment’s valuation as of July 1, 2020, the Victoria Drive condo has a 2021 worth of $323,300.
The transactions were tracked by real-estate site Zealty.ca.
The online resource operated by Holywell Properties lists other examples of these listings and sales below $350,000.
One might even go up to a budget of below $450,000.
Again using RBC’s mortgage calculator, that means a monthly payment of $1,914.23.
That’s still cheaper than renting a $2,290 studio in the West End.
Below $450,000 can be considered affordable, according to realtor David Hutchinson.
“Even in a hot market like this, we can find affordability. You just have to know where to look,” Hutchinson told the Straight.
Canada should invest in facilities to make vaccines for next pandemic, says Moderna co-founder – CTV News
Canadian dollar retreats from three-year high as U.S. bond yields soar
'Total hell': PSW describes working through COVID-19 outbreak at Ont. long-term care home – CTV News
Silver investment demand jumped 12% in 2019
Iran anticipates renewed protests amid social media shutdown
Galaxy M31 July 2020 security update brings Glance, a content-driven lockscreen wallpaper service
Economy15 hours ago
BMO: West will be best as Canadian economy bounces back
Economy10 hours ago
B.C. economy set to grow in 2021, 2022, forecast suggests – News 1130
Tech16 hours ago
When And Where To Buy An Nvidia GeForce RTX 3060 Graphics Card Today – Forbes
Sports14 hours ago
Evaluating Sheldon Keefe on the Maple Leafs – Pension Plan Puppets
Business45 mins ago
Canadian Imperial Bank of Commerce profit beats estimates on capital market strength
Economy21 hours ago
Coronavirus: Public need 'home truths' on economy – Hammond – BBC News
Health17 hours ago
B.C.'s COVID-19 death count stays low, as vaccination roll-out stays slow – Powell River Peak
Health12 hours ago
Ontario to release new COVID-19 projections today – Toronto Sun