Making $$$ From Your Home

Need some extra cash to fund a special project or pay down some debt?  Barrie Lebow, president and founder of Senior Housing Council, The Real Estate Academy Inc., has some great ideas for using your home to make money.  His focus is on meeting Real Estate needs in the senior market and I will post more of his articles in the future.

Making money from your home

Make $$$ from your home - It’s not just about selling lemonade

By Barry Lebow (or Frances O’Flynn)
If you’re reading this column, chances are it’s been awhile since you sold lemonade from a stand in front of your house. But entrepreneurial spirit never dies. So here are some grown-up ideas for making money from your home.

Empty nesters, for example, could rent a room or basement suite to students. Even better, by carefully screening potential applicants you could find a student who’s sufficiently trustworthy to leave in charge of the house while you’re away. Or he or she might volunteer to help with household chores in return for a reduced rent.

And what about that garage you don’t use? You could always rent it as a parking spot, but you could also clean it out and rent it to someone who desperately needs storage space or a place to work on a hobby such as restoring old cars. If you are considering renting out the garage or basement for storage, why not take it one step further and offer shipping supplies. Small home-based industries seldom have the space to store or pack their products for shipping.

Here’s a way to make money from Canada’s role as Hollywood North. Film companies comb local registers and scout neighbourhoods looking for just the right place to serve as a backdrop for their movie. You can register your home with the local film liaison office. One acquaintance made over $1,000 a day renting his upscale property to a U.S. film company. They put the house back exactly as they found it, and aside for the inconvenience of having to vacate the premises for the duration of the shoot, nothing was lost, broken or stolen. Added bonus: you’re may just catch a glimpse of your favourite star.

For those with a now empty in-law suite, why not consider renting out the kitchen to a catering company or other food prep organization? You also could rent a basement room as a photography darkroom or a soundproof garage to local musicians for practices.

Don’t overlook the garden. You can grow vegetables, flowers, even turf, on the back 40 and sell the results online or through local landscapers.

Then there are the home-based businesses: bed & breakfasts (particularly in demand in tourist areas); baby sitting services or daycare; pet boarding; esthetics; music lessons and tutoring; antiques (great if you have an old barn or large shed on your property)… the list could go on and on.

For entrepreneurs willing to take risks, there are opportunities in buying real estate as an investment. Many now-millionaires started life with one duplex, living on the top floor and renting the lower. With your expenses paid by the renter, you can buy a larger duplex or a triplex to rent out. The secret, says one wealthy entrepreneur, is to make sure there is money in your pocket after you’ve covered all your expenses. When you’re assessing an investment, determine whether the rent you can charge will pay not just for the mortgage but renovations and maintenance, property taxes and utilities, as well as a certain percentage set aside for potential vacancies and bad debt. Then make sure that still leaves with you a small profit.

Ask the seller for documentation (or rent rolls) which will tell you how much each unit is rented for. You can even ask for past rent history. Then check going rates online or in newspapers. Rents shouldn’t be too high (which discourages renters) or too low (‘there’s something wrong here’) for the area.

Finally, for empty nesters who are reluctant to sell the family home, why not rent it and downsize to a condo or smaller home? This has the advantage of maintaining the home in the family (perhaps the kids will want to buy it from you when they’re settled and more financially secure). It also has the disadvantage of making you a landlord. Depending on the tenant, the condition of the house, the area and a whole host of other factors, you may be taking on midnight phone calls, angry neighbours and potential damage to the building.

Other downsides of making money from your home: Government regulations affecting home-based industries may make it hard to set up a pet-boarding facility or catering kitchen. Parking for customers may be a problem for home businesses such as esthetics. Film companies, and particularly ad agencies who want to film commercials in your home, may not be scrupulous about returning the house to its original condition. Tenants could damage your property. Students could be noisy.

But then, even selling lemonade from a stand in front of your house years ago probably violated some health regulation. It didn’t stop you then. Will it now?

This information is brought to you by your Accredited Senior Agent, a specialist in the housing needs of older adults. Your ASA is an experienced real estate professional who has graduated from a special education program focusing on the needs of seniors. For information, please visit www.thesenioragent.com or contact, Barry Lebow, President and Founder, Senior Housing Council, The Real Estate Academy Inc., providers of the Accredited Senior Agent designation, 416-784-9806 ext. 107

May be a little late for Valentine's Day . . .

. . . but here it is anyway.  Came across this blog the other day and thought it was quite interesting and relevant, today, as the senior population continues to grow.  Some big decisions ahead for families . . .
Through specialized coursework and experience, I have come to truly understand the diverse issues that may be facing seniors and their families.  With compassion, sensitivity and a realistic approach, I would be glad to assist your family in this process. Feel free to contact me,  705-733-5821 or jtalbot@remax.net.


Written on February 14, 2011 – 7:39 am | by Audrey Miller My colleague blogged previously on collaborative law as an approach to consider in resolving estate disputes. I think this is a perfect topic for Valentine’s Day. Many, if not most couples, are initially in love. I think most families are started because of love yet what happens to the strength and love of a family over the years is questionable. We often see conflicts that result in litigation and feuding with a lot of money and time being spent. I don’t know what happens within families nor can I provide comment on how to avoid it. What I can suggest is a process that brings family members together in terms of planning and providing care for their older family member.

Hiring a Geriatric Care Manager to assess the individual and to provide an objective analysis of what the older individual needs, is an excellent starting place. An in home assessment will look at their: functioning, including physical, cognitive and emotional components as well as any caregiver related issues. The areas of need are identified with recommendations outlined with their best interests as the priority. This report serves as a blueprint for planning the care of an older individual. While families may continue to disagree at least there is a way to make sure the mom or dad’s needs have been appropriately documented with recommendations and resources identified.

Eleven Reasons to Hire a Professional Geriatric Care Manager:
1. We are professionals who have the knowledge, training, and experience to do what you are trying to do without it.
2. We can do in 2 hours what it would take you 2 weeks to do.
3. We know how to get around that “I’m saving for a rainy day” syndrome, when your folks are drowning in their problems.
4. We’re much cheaper than the cost of plane fare if you have to fly into town when your parents say “everything is fine” but you know it isn’t.
5. We can provide advice on which nursing/retirement residence is right for your parents.
6. We can make your parents hear what you have said over and over again, but they refuse to listen because to them, you are still a child.
7. We can tell your annoying sibling to keep quiet, but graciously.
8. We’ve helped families a lot worse than yours.
9. Your dad can’t push our buttons.
10. Next time you want to hang up on your mother, you can tell her to call us.
11. We’re available, so you don’t have to be.
( Adapted from “Inside GCM,” Winter, 2005, Phyllis Brostoff)
Happy Valentine’s Day. –Audrey Miller

Wouldn't we all like to Save Money???

My wife came across this article in Canadian Living and I thought I'd share.  We've got the hang of some of these tips but have a long way to go.  Grocery prices are outrageous! The author says our grocery costs are second only to mortgage and rent but I'd be surprised if groceries cost less than rent in a lot of families.  Would love to hear your shopping tips & tricks!

Here's the article:

Trim your grocery bill:

Save money on your food purchases with these easy tips.

Benjamin Franklin said, "A fat kitchen makes a lean will," and he was right. I was behind someone at the grocery store who was shopping with her son. They had two grocery carts jammed full of all kinds of prepared food, junk food, comfort food and a few of the necessary staples. While I'm usually not that interested in what people are buying, I was shocked when their food bill rang in at more than $450! It didn't look like they were preparing for a party, either. This seemed to be what they were buying on a regular basis.

Many people now spend more money every month on food than they do on their car! That makes buying groceries the second-highest monthly expense after paying your mortgage or rent (Emphasis added by Joe).  Many people don't think to include food in their financial planning because it's a necessity and we need it to survive; however, this is one area where people lose control every week and overspend.

Saving just $20 a week on your grocery bill can save you more than $1,000 a year. Saving $60 a week could help you save more than $3,000 a year.

I first met Kimberly Clancy when we did a story on Canada AM about trying to save money on your grocery bill. Clancy runs her own website, www.frugalshopper.ca. The site is a wealth of frugal knowledge, where Canadians can go to find out about sales from coast to coast, free shopping advice, coupon tips and ideas on how to shave money off their grocery bill. I went shopping with Clancy and the two of us had the exact same shopping list. The money she saved was amazing.

Without using coupons, I spent $133.89. Using coupons, Clancy spent $23.45. That's a savings of $110.44.

Imagine saving $110 on your grocery bill! On this visit Clancy did use some freebie coupons she was saving up for our demonstration, but she says she routinely saves about 25 per cent or more on her grocery bill every week using coupons, flyers and watching for sales.

Clancy says, "I think many people spend way too much money on groceries, especially when you go to the premium grocery stores. These high-end chains will have beautiful layouts, fancy displays and better lighting, but most premium outlets also own a budget grocery chain that has prices that can be 30 per cent cheaper and the food comes from the same warehouse."

How to save; shopping dos and don'ts

One way to save on your grocery bill is to buy store or generic brands instead of national brands. They are usually much cheaper and just as good. (National brands have to hike their prices up to pay off those expensive TV commercials and magazine ads.) Beans that are canned for more expensive national brands are the same beans that go into the cans sold under the store's name brand. I'll never forget touring a bottled water factory and seeing water going into different bottles with different labels. It was the exact same water being bottled, but the prices ranged from $0.89 a bottle to $1.59 for the same H2O! Often, no-name camera film, batteries and blank CDs are also manufactured by the same companies that produce the more expensie national brand. It just makes sense to try the cheaper brand, and if it works or tastes fine then stick with it.

One of the best ways to save money on your grocery list is to make sure you know the prices of the products you use often. "You won't know what a good deal is if you don't know what the prices are. Just because it's on sale doesn't mean it's a bargain. When you use coupons and other promotional offers you'll get even more savings," says Clancy. The best sale items will be on the front and back of the flyer and when there is something on sale you use regularly, stock up!

Warehouse shopping and buying in bulk are also good ideas, but you can easily walk into a warehouse store with the best intentions to save money and walk out with only eight items that cost you $150, so care must be taken here as well.

Grocery shopping dos

• Do plan ahead

• Do use meal plans

• Do get organized

• Do avoid impulse shopping

Grocery shopping don'ts

• Don't shop on credit

• Don't buy name brands

• Don't buy junk food

• Don't buy food you're not sure you'll eat

• Don't shop when you're hungry

Admittedly, I'm not someone who would spend much time clipping coupons and many of us would find it hard to make the effort or find the energy to bother. While manufacturers issue about 2.6 billion coupons a year, only 97 million coupons are redeemed. Many people who do clip coupons are stay-at-home parents, retirees and students, but Clancy says everyone can benefit. "Everyone has to eat and anyone who wants to save money can. Food is something we have to buy anyway and you should try to find savings, especially if you are spending hundreds of dollars a week on groceries." With all her coupon clipping, Clancy says she spends only about $50 a week to feed her family. "If you cut back a little you can save a little, and if you cut back a lot you can really save a lot. It's that simple."

By Pat Foran

Published by Canadian Living.

Wiarton Willie Predicts An Early Spring

No Shadow in the Midst of Today's Snow Storm

Dust off those paint brushes and start making your to-do lists.

Typically, the Real Estate market begins to improve in early spring.  With all the snow we've had this year, people will be eager to get outside when the snow begins to settle. 

If you're thinking of selling this spring, now is the time to start thinking of what you need to do to get your house ready.  If you need any ideas to get you started, give me a call @ 705-733-5821.

So get in your last few ski and toboggan runs and get to work.

Ark Building in 2003

I just came across this humorous anecdote I clipped from the Creemore Echo in 2003.

This is sooo relevant in the business of building today.

The earth was wicked and overpopulated.  The Lord instructed Noah to rebuild the Ark and save two of every living thing, along with a few good humans.  “Here’s the blueprint,” said the Lord.  “You will need to hurry, for in six months I will start the unending rain for 40 days and 40 nights.”  Right on schedule six months later the rains started coming down.  But when the Lord checked in with Noah, he was weeping in his flooded yard, and there was no Ark.  “Noah,” He roared; “Where’s the Ark?”

Forgive me, Lord,” begged Noah.  “Things have changed.  I needed a building permit.  I’ve been arguing with the inspector about the need for a sprinkler system.  My neighbours claim that I have violated the zoning laws by building the Ark in my yard and exceeding the height limit.  We had to go to the Development Appeal Board for a decision.  Then Transport Canada and the Department of Highways and Hydro wanted a bond posted for the future costs of moving power, trolley, and other overhead obstructions, to clear the passage for the Ark’s move to the sea.  I argued the sea would be coming to us, but they would hear nothing of this!  Getting wood was another problem.  There’s a ban on cutting local trees in order to save the potted owl.  I tried to convince the environmentalists that I needed the wood to save the owls, but no go!”

“I started gathering the animals, but then an animal rights group sued me.  They insisted that I was confining wild animals against their will.  As well, they argued the space was too restrictive and it was cruel and inhumane to put so many animals in so confined an area.”

“Environment Canada decided that I could not build the Ark without filing an environmental impact statement on your proposed flood.  I’m still trying to resolve a complaint with the Human Rights Commission on how many minorities I’m supposed to hire for my building crew.  Meanwhile, the trade unions want me to hire only union people with ark building experience.  To make matters worse, Canada Customs and Revenue Agency seized all of my assets, claiming I’m trying to leave the country illegally as well as with endangered species.

So, forgive me, Lord, but it would take at least ten years to finish this Ark.”  Suddenly, the skies cleared, and the sun began to shine.  A rainbow stretched across the sky!  Noah looked up in wonder.  “You mean you’re not going to destroy the world, Lord?” he asked.

“No,” said the Lord.  “Your government already has!”

Editor's note:  This modern fable was recently shared with the Big Heart Seniors and sent on to the Echo by Edith and Bob Veale.

Author unknown. 

check this out about boomers.

http://www.theglobeandmail.com/real-estate/boomers-not-opting-for-condos-when-they-downsize/article1795229/

Check this out about boomers.

Joseph Talbot - Sales Rep- Remax Clearview INC. Brokerage - Ontario - Stayner - (705) 428-4500 411.ca

Joseph Talbot - Sales Rep- Remax Clearview INC. Brokerage - Ontario - Stayner - (705) 428-4500 411.ca

We are always looking for new ways to help serve our clients. We are a team, together with you, so we all want to succeed. Joining 411.ca is just one more new way for buyers and sellers to find us and what we have to offer. The more we do together, the more chance we have of success. The real estate market is changing and it is getting harder to sell a property and harder to find just the right one. So we hope that you will take advantage of what we have to offer. We pride ourselves in client satisfaction. If you are not happy neither are we, and when you are happy you will referr us to your friends, family and co-workers. Why wouldn't you, if you think our service is great, you would definitely want everyone you know to get the same great service. When you are visiting our sites, be sure to check out all the great information. If you have any questions or comments, we would love to hear from you. We always strive to make our business better.
Thankyou for stopping here.
Have a terrific day!
Joseph Talbot, sales rep.
Accredited Senior Agent.
Remax Clearview Inc. brokerage
705-733-5821