Best Home Features for Pets.

General Coleman Foisy 28 Oct

 

 

 

 

 

 

 

 

Creating a pet-friendly home involves considering the comfort, safety, and well-being of your furry friends. Here are some features to consider:

  • Durable Flooring: Choose scratch-resistant and easy-to-clean flooring like hardwood, laminate, or more durable tile options. Avoid carpets if possible, or choose pet-friendly carpeting that’s stain-resistant.
  • Pet-Friendly Fabrics: Choose furniture and upholstery made from pet-friendly fabrics like leather or microfiber that are durable and easy to clean. This helps in case of accidents or shedding.
  • Pet-Safe Plants: Select indoor plants that are non-toxic to pets, such as spider plants, Boston ferns, or palms. Keep toxic plants out of reach or opt for artificial plants.
  • Designated Pet Areas: Create designated spaces for your pets, such as a cozy corner with a bed or a built-in nook under the stairs. This gives them a sense of security and their own space.
  • Easy Access to Outdoors: Install a pet door or create a pet-friendly exit to the yard, allowing your pets to go outside and play freely.
  • Secure Fencing: Ensure your yard has a secure fence to prevent your pets from wandering off and to keep them safe from potential dangers.
  • Built-in Feeding Stations: Incorporate built-in feeding stations or cabinets to store pet food and supplies, keeping them organized and out of reach from curious pets.
  • Wash Station or Mudroom: Include a designated area near the entrance for cleaning muddy paws or bathing your pets, with easy-to-clean surfaces and storage for grooming supplies.
  • Integrated Pet Technology: Consider installing smart pet feeders, water fountains, or cameras to monitor your pets remotely and ensure they are comfortable and well-fed when you’re away.

By incorporating these features into your home design, you can create a safe, comfortable, and enjoyable environment for both you and your pets.

What the Bank of Canada Rate Drops Mean for YOU!

General Coleman Foisy 1 Oct

With the Bank of Canada rate decreases throughout the summer and into September, I thought this would be a great opportunity to update you on what this means for your mortgage.

If you’re on an adjustable-rate mortgage, this will result in a slight decrease in your mortgage payments, giving you more cash flow each month!
For example, if your mortgage balance is $750,000 at the previous 6.20% interest rate your approx. compounded monthly payment was likely around $4,924. With the new rate of 5.95% your approx. compounded monthly payment on an adjustable-rate mortgage will be $4,809*. This is an estimated $115/m decrease ($15/m per 100k balance) on your payment. While it may not seem like much, it can certainly add up over time resulting in hundreds of dollars in savings.

*Rates based on example of Prime minus .50% (old prime 6.70 and new prime 6.45)

Borrowers with static-payment variable-rate mortgages will also benefit from Bank of Canada rate decreases. While the monthly payment stays the same on these types of mortgages, the lower interest rate means that more of your monthly payment will go towards paying down your mortgage principal, and less will go towards interest.

Fixed-rate mortgages do not change when the Bank of Canada increases or decreases rates. However, if you have a fixed-rate mortgage, this declining rate environment could make it easier when it comes time to renew or refinance your mortgage. Lower rates give you more borrowing power in the market – this means your money can go further!

Recent changes are also great news for first-time buyers! Not only does a lower interest rate allow for more qualification options and lower payments, but recent Government of Canada changes on mortgage rules have removed many barriers previously faced by first-time home buyers.

The Bank of Canada has two more decision dates this year in October and December. Experts anticipate the Bank of Canada will continue these quarter-point rate cuts, taking the overnight rate down to 4.0% at year-end and potentially down to 2.75% next year.

Whether you’re a current homeowner, looking to refinance or renew, or wanting to purchase, this is exciting news for Canadians across the country!

However, keep in mind rate is not the be-all-end-all of mortgages. Factors such as type of mortgage, down payment amount, payment schedule, amortization, prepayment penalties, and more will also affect your mortgage and affordability.

If you want more information about your specific mortgage and how this changing environment affects your situation, please don’t hesitate to reach out!