Tips for the new
do-it-yourself home renovator
(NC)—It's easy to feel intimidated by all the
renovations your home may need. But not every project
requires a massive overhaul or a hefty budget. If you're
new to the home renovation world, Neil Knorr, Insulation
Expert at Owens Corning, shares some helpful tips for
rookie renovators.
“Only take on projects that
you're comfortable with and never perform a project
that's best suited for a professional,” says Knorr.
“Begin with a quick and easy job, such as insulating
your attic – a small yet impactful project that can help
you save energy at home and up to 28* per cent on your
energy bills.”
If you're looking to begin your
first attic re-insulation project, here are some helpful
pointers:
•Use all the resources available to
you.
Seek online instructional resources, which
can be very helpful for a first-timer. Watch the
installation video available at
www.insulationtaxcredit.ca for complete step-by-step
instructions on how to insulate your attic.
•Speak to the experts.
When obtaining materials
at your building supplies store, visit the insulation
aisle and approach an associate to learn about which
PINK FIBERGLAS options will work best for you.
•Safety first.
Be diligent when it comes to
safety. Clearly understand the job's safety precautions
and how to properly use all the tools required.
•Build enough time to do the project right.
Re-insulating the attic can easily be done by a handy
homeowner over the course of one weekend; however,
understand your own skill level and never rush through a
job. Take the time to do it right.
•Make the most
out of renovation dollars.
When the
insulating's done, enjoy the added comfort of your home
and savings on your energy bills. And don't forget that
upgrading your attic insulation may help you qualify for
federal and provincial energy-saving grants. Visit
www.budget.gc.ca to seek eligibility for a 15 per cent
non-refundable tax credit of up to $1,350 under the Home
Renovation Tax Credit program. As well, you may qualify
for a $750 rebate through the ecoENERGY Retrofit program
– refer to the Natural Resources Canada website at
www.oee.nrcan.gc.ca for details.
•
Savings
vary depending on the original amount of insulation in
your home, climate, house size, air leaks, and personal
energy use and living habits. The colour PINK is a
registered trademark of Owens Corning © 2009 Owens
Corning. All Rights Reserved.
The legal dimensions
of running a business from home
(NC)—Flexible work hours. Better work/life balance. The
ability to avoid the hassle of long rush-hour commutes.
The attractions of running a business from home are
many.
But running a business from home is not
always that easy. Many entrepreneurs learn too late that
they should have obtained expert advice before making
their home their place of work.
“It is important
to discuss your plans with a lawyer who has the
knowledge and expertise to ensure that your business not
only operates efficiently but that you are in compliance
with local laws and codes,” says Ray Leclair, an
experienced real estate lawyer and vice-president of
TitlePLUS.
Leclair suggests the following tips
for anyone currently or interested in running a business
from home:
Justify the space – Make certain your
type of business lends itself to a home-based atmosphere
based on the services you are offering, the
client/customer presence it will generate and if noise,
traffic or parking will create conflict with your
neighbours.
Ensure your business is in compliance
– Does the municipal zoning by-law allow your type of
business to operate from your home? Do you require any
licenses or permits? Can you put up a sign? If your home
is a condominium, are there any rules which restrict
your right to operate your business?
Insure your
business – Your business use of your home may impact
your home insurance and a loss may be denied. You should
disclose your home business use to your insurance
broker. The terms and cost of your insurance may change.
Understand taxation – Although you may be able to
deduct expenses for income tax purposes from the
business use of a work space in your home, many factors
affect your entitlement to a deduction. Also, realty
taxes may be affected by a change of use of a part of
your home. Your lawyer can advise or you can get more
details from the Canada Revenue Agency website.
Involve a real estate lawyer early in the process – Work
with an experienced real estate lawyer to ensure that
you have taken care of all the legal aspects to run a
successful business from home.
Leclair adds
“Whether you are starting from scratch, buying an
existing business or franchise, or expanding a business
you presently own, working with a trusted advisor, such
as a real estate lawyer is essential to your success.”
A useful resource is the TitlePLUS Real Simple Real
Estate Guide, a website that provides information on
what lawyers do and how to avoid fraud, as well as
mortgage calculators, a locate-a-lawyer feature and
other tools. It is available free at
www.titleplus.ca .