Important things to know about renovating

If you have bought a home in Brampton and are thinking about renovating there are some things you need to consider before getting started. It is hard enough to have to renovate with the mess and chaos associated with it. However, if you are unsure of how to go about renovating and who to approach then this piece may help you make those crucial decisions. The same applies if you are thinking about selling your Brampton home.

The fact is that hiring a professional can help save you some money because the tasks will get done fast and with detail. So how much will you pay for any outside help? These are some rates you may have to pay. Remember that different contractors will charge differently. You should always shop around and ask friends and family for anyone that they may have used for these projects.

: Painter- you will pay anywhere from $40/hr to $325/day. Remember to get a written estimate.

: Electrician- They will usually charge from $60-$80 an hour. Some may offer a flat rate.

: Landscape Designer-You can expect to pay from $120 for a consult and $300-$400 for a design. The larger the lot the more you will pay.

: Interior Designer- Most designers will charge $90 or more an hour. If you get a decorator they can charge $75-$200 an hour. You will probably have to make a deposit on the labour and have a payment schedule.

: General Handymen- With handy men you can pay from $50-$75 an hour if they are professional.

: Contractors: These rates will vary because there are so many contractors in the market. You should definitely ask around and get quotes and advise. For larger jobs they may split your payments into instalments and give you a payment schedule.

When you are looking for people to renovate make sure that they are licensed and insured. Ask about their training and experience, guarantees, quotes, samples and references. Make sure you do your homework so the work is done correctly and on time and budget.

If you have bought a Brampton home you should be aware that there are changes to the mortgage rules. There are three major changes you have to know about:

1. You can qualify at a 5 year rate

All borrowers have to meet the standards for a five year fixed mortgage. This applies even if they choose a lower interest rate or shorter term mortgage.

2. Refinancing is limited to 90% of the loan to value ratio
Now borrowers can refinance their mortgage for as much as 95% of the property value. Now it is reduced to 90% to help them with the equity.

3. Minimum of 20% down payment on non owner occupies property

This is required for small residential rental properties if the owner does not live there. If they do want to live there then they can purchase it for 5% down.

All the above mentioned changes will take effect on April 19^th, 2010.

If you are thinking about making renovations to your home and you live in Brampton will you need a building permit? You have to find out because it could affect the houses value and may bring forth legal issues. The Ontario Building Code Act requires you to have a building permit for the construction of any addition or alteration of a structure that could result in building area larger than 108 square feet. The fact is that it is illegal to construct or demolish without getting that permit. You will need a building permit for:

-construction of a new building

-renovating, repairing or adding a building

-demolishing or removing all or portions of a building

-changing the use of a building

-installing, changing, removing parts or load bearing walls

-making new openings or changing the size of doors and windows

-building a garage, balcony or deck

-excavating a basement or building a fountain

-installing, modifying any heating, plumbing, air conditioning and fireplaces

-rebuilding a chimney

You will not need a building permit for the following:

-replacing existing doors and windows that are within distance of property lines

-installing siding on small residential buildings within property lines

-building a roofless deck under two feet and not attached to the building

-building a utility shed of 108 square feet

-reshingling a roof with no structural work

-installing eaves troughs and keeping drainage to the property

-replacing or increasing insulation, dry wall and plaster

-damp proofing basements

-painting or decorating

-installing kitchen, bathroom cupboards with no plumbing

-Erecting a fence- not including swimming pools or outside pools-they require permits

-replacing forced air furnaces without duct or venting situations

-electrical work

If you don’t get a permit it can mean that you will be ordered to stop all the work. You may be prosecuted and ordered to remove all the work that has already been done. If you are not sure about having to get a permit then contact the Building Division wherever you live and find out what you need for your specific project. If you are thinking about getting into an apartment in Brampton there are many basement apartments. The questions are these basement apartments legal?

A basement apartment should be self contained and have one room or several rooms. It can be single or semi-detached and located in any part of the house. The apartment needs a separate entry and bathroom. If the apartment was built after November 16, 1995 it is illegal in Brampton. They have to be registered with the city before January 31, 2006 or have legal and non-conforming status. There are risks to an illegal basement apartment:

-Increased Liability: The homeowners are held liable if there is a fire.

-Loss of Insurance Coverage

-Limited Recover of Damages

-Prosecution

-Financing

-Tenants

-Tenant Insurance

There are many people now who are looking to make some extra money. They may think they can convert a space into a basement apartment. The fact is that you can’t! The City and Brampton by-laws do not permit new basement apartments. If the apartment did not exist before November 16, 1995 it can’t be legally changed. Any home that was built after 1995 cannot have a legal basement apartment.