Posted on
March 26, 2012
by
Barry Klatt
Looking for a piece of Costa Rican Paradise? Asking only $150,000, I invite you to view "Villagio Flor de Pacifico"! This is a fully furnished two bedroom detached home in a quiet, gated community. Native Costa Rican hardwoods were used for the soaring vault ceilings, built-in wardrobes, casings / trims and the kitchen cabinets. This home has plenty of charm with arched windows, tiled floors and open design. A wide and shady patio across the front invites you to relax in the hammock. Established grounds and gardens provide a tranquil and colorful backdrop to this community that features a large owners pool, quaint Central Plaza complete with restaurants and shops, secure parking and all only 5 minutes from the beach and marina. This is a "turn-key" opportunity to secure an affordable vacation or retirement home on Costa Rica's Gold Coast - rental income is possible to assist with ownership costs.

Posted on
March 22, 2012
by
Barry Klatt
Posted in
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Over the years, we’ve developed a good understanding of how buildings perform. Construction techniques for new homes have changed rapidly. Most of these improved techniques also apply to renovations.
If you plan carefully, you can renovate your home to make it look better, work better, last longer and be more comfortable. Before renovating, it’s important to assess the condition of your home to determine if there are any significant underlying problems that must be addressed before or during your planned renovation project.

Figure 1: Problems that should be addressed
Common Situations
In Canada, we need affordable houses to provide shelter from the elements. We also want our homes to be pleasant, comfortable and attractive.
Homeowners have higher expectations than in the past, particularly about comfort and interior design. Renovations are an opportunity to address some of these expectations.
Some of the reasons people decide to renovate are to:
- Upgrade or improve outdated or deteriorated systems — replacing an outdated furnace, old siding or windows are common upgrades.
- Maintain and repair various elements of their house — reshingling a roof or fixing foundation cracks are typical renovations.
- Address lifestyle needs — converting unused attic space to living quarters, add a sunroom or build a home office.
Healthy Housing™
Renovating is an ideal time to make your house healthier for you, the community and the environment. When assessing your renovation project, be sure to consider the five essentials of Healthy Housing™.
House as a System
A house is much more than just four walls and a roof — it’s an interactive system made up of many components including the basic structure, heating, ventilating and air conditioning (HVAC) equipment, the external environment and the occupants. Each component influences the performance of the entire system. A renovation provides an opportunity to improve how your house performs.
As you assess your renovation project, ask yourself how changing particular components will affect the performance of the whole house. For example, as part of a bathroom renovation you may want to add a hot tub that will generate large amounts of humidity during operation.Your existing ventilation may be inadequate to handle the increased moisture levels. It will be important to provide proper ventilation to avoid mold growth, indoor air quality (IAQ) problems and damage to the structure or finishes. You may need to consult with a qualified home inspector or a professional renovator.
Avoid Surprises
A systematic and thorough inspection will help you to assess the condition of your home. Look for any signs of deterioration and the possible causes. Start your inspection in the basement. Many problems in other parts of the house originate there. Depending upon the size of your project, you may want to ask a qualified home inspector or a professional renovator to help you assess your building and develop a plan. Here are some of the likely questions that you’ll want to think about.
Foundations |
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- Are there any cracks or is there damage to concrete walls or floors?
- Are there any damp spots, stains, efflorescence (white, chalky stains) or blistered paint on the concrete, finished walls or floors?
- Does anyone notice bad smells or experience nausea or headaches when in the basement?
- Is there high humidity, any condensation or visible mold?
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- Repair minor cracks if they leak. Seek an engineer’s opinion on serious structural problems such as major or expanding cracks, bowed walls or uneven floors.
- Clean up mold; discard moldy or rotting materials.
- Ensure that the floor drain has a trap or install a retrofit backflow preventer. Make sure that all plumbing fixtures (including washer) are vented and have traps. Install a sealed cover on the sump pit.
- Direct outside surface water away from the foundation. Improve underground drainage.
- Repair or replace damaged interior finishes.
- Keep the relative humidity between 30 and 55%. Ventilate and circulate air. Dehumidify or air condition in summer. Clean up mold according to CMHC guidelines.
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- Serious structural problems could cause further damage or collapse.
- Water pressure on the outside of the foundation can contribute to leaks and structural problems.
- Odours will continue to be annoying and can pose health problems, depending on the source.
- Unresolved water sources will cause renovations to deteriorate quickly, whether the water comes from building leaks, plumbing leaks or high humidity.
- Mold can grow on almost anything and be a source of serious indoor air quality (IAQ) problems.
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Basement ceiling or main floor structure |
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- Are there any headroom problems?
- Are there signs of rot, sagging floor joists or twisted beams?
- Are there water stains on the main floor structure or basement finished ceiling?
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- Assess structural problems carefully. Expert help may be required. Repair or replace structural elements so they will accommodate renovation plans and expected loads.
- Fix any water leaks.
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- Unresolved structural problems, poorly planned structural changes or new loads may cause future settling or collapse.
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Mechanical and electrical systems |
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- Are there unusually high heating or cooling bills?
- Are mechanical systems capable of supplying current and future needs?
- Is the house too dry or too humid? Is the heat uneven?
- Is there ever a noticeable smoky or fuel smell?
- Is the electrical service and wiring capable of supplying current and future needs?
- Do fuses keep blowing or circuit breakers keep shutting off?
- Are there any exposed electrical wires or crumbled wire insulation?
- Do any lights dim or outlets spark?
- Are there leaks from pipes, taps, toilets or the water heater?
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- Have a qualified service company inspect your heating system to ensure that equipment is up-to-date, functioning properly and sized to handle current and future needs.
- Air seal the house to keep it from becoming too dry. Use a humidifier (that has a humidistat) as required. Provide ventilation using exhaust fans or a heat recovery ventilator to reduce humidity in winter. Dehumidify or air condition to reduce the humidity in summer. Check for heat flow to each room.
- Repair any sources of smoky or fuel smells immediately. The smells could indicate serious fire or health hazards.
- Have an electrician assess the electrical systems and any problems such as fuses blowing repeatedly, sparking outlets, exposed wires or connections.
- Repair any water leaks. Repair or replace leaky fixtures.
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- Without regular service, heating systems may gradually deteriorate unnoticed, leading to serious health and safety concerns.
- Problems can arise if HVAC needs cannot be met by the capacity of the services available. The heating supply must be enough for comfort. Proper ventilation is needed to control excess humidity.
- Electrical service, wiring and outlets may be unsafe or inadequate for increased loads.
- Plumbing leaks will continue to damage the finishes and the house structure. The leaks may also contribute to mold growth and IAQ problems.
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General living areas, floors and stairs |
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- Are floors or stairs springy, sagging, warped or squeaky?
- Are floor surfaces damaged or carpets musty?
- Are handrails or guardrails loose?
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- Assess the supports underneath the floor. Contact a carpenter for help. Repair as needed.
- Refasten or shim squeaking floors or stairs.
- Repair serious safety hazards immediately such as damaged floors or stair boards and loose coverings.
- Replace damaged flooring. Eliminate moisture sources.
- Repair loose handrails or guardrails.
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- Damaged or uneven floors and stairs may be unsafe.
- Musty carpets are usually a source of mold.
- Loose handrails or guardrails are a safety hazard.
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Kitchens and bathrooms |
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- Is there any water seepage around fixtures or condensation on windows or toilets?
- Are floors damaged around bathtubs or showers?
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- Repair or replace leaky fixtures.
- Repair or replace damaged flooring.
- Provide proper ventilation to reduce humidity, indoor pollutants and stale air.
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- Leaks will continue to cause damage.
- Excess humidity will continue to cause damage, may cause mold growth and affect the IAQ.
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Walls and ceilings |
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- Do walls and ceilings have any cracks, holes, bulges, water stains or peeling finishes?
- Do any doors or windows bind or stick?
- Are any windows drafty, broken, operating poorly or is there moisture between panes?
- Are there water stains or rot on windows or walls?
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- Repair any holes. Eliminate moisture sources that cause bulges, water stains or peeling finishes.
- Assess cracks, binding doors or stuck windows for changes in moisture levels or structural movement. Repair or replace as required.
- Replace broken windowpanes and poorly operating hardware. Replace sealed unit windows that have broken seals or rot.
- Replace rotted wall materials. Eliminate moisture sources.
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- If the problem sources are not fixed, the bulges, cracks or binding will re-occur.
- Hiding moisture damage behind new finishes will cause continuing deterioration and mold growth.
- Faulty windows will eventually result in damage to surrounding wall areas.
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Attics |
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- Are there water stains or excessive dampness?
- Is there black mold on any of the roof framing or sheathing?
- Is the attic adequately ventilated?
- Are there air leaks in the ceiling of the rooms below the attic? Is the attic hatch sealed?
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- Find moisture sources. Repair roof leaks. Air-seal the ceiling using polyethylene sheeting, sealed over octagonal boxes for lights, caulk holes for wires through sheeting or wall top plates and weatherstrip attic hatches.
- Ventilate the attic at the soffits and roof peak.
- Seal any air leaks in the ceiling of the rooms below the attic. Install a sealed attic hatch.
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- Moisture damage will continue to deteriorate the house. Unventilated attics will allow moisture to build up.
- Air leaks in ceilings below the attic will reduce heating efficiency and can be sources of odours and pollutants.
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Roofs |
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- Does the roof have any curled or cracked shingles, bare patches, leaks, moss, or damaged flashing?
- Do eavestroughs and downspouts direct water away from the foundation?
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- Repair or replace damaged roofing.
- Clean leaves and debris from eavestroughs every spring and fall. Extend downspouts to direct rainwater away from the foundation.
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- Roofing will continue to deteriorate.
- Surface water near the house can put undue stress on the foundation and is a primary cause of water entry problems.
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Exterior walls |
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- Is there any blistered paint, rotted wood, buckled siding, stained or crumbled brick or damaged stucco on exterior walls?
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- Find and eliminate the source of water penetration. Repair or replace damaged exterior finishes.
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- Water penetration may lead to more serious siding, structural and interior finish problems.
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Rewards
- Undertaking maintenance and repair projects such as correcting structural flaws, fixing leaks and making sure that all services are safe and adequate will make your home safer, more efficient and more durable.
- After you have ensured safety, efficiency and durability, other renovations can be done to make your home more pleasant, attractive and suited to your lifestyle.
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Skills to Do the Job
You can assess most of your house with the help of one of CMHC’s inspection checklists. Professional home inspectors are also available to do a thorough inspection for you.
Repairing serious structural, mechanical or electrical problems will require the help of an expert. |
Use the House Assessment Worksheet to record the present condition, any problems in your home and to help set priorities for your renovation.
House Assessment Worksheet |
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Present Condition / Problems |
Renovation Priority |
Foundation |
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Basement Ceiling or Main Floor Structure |
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Heating, Cooling and Ventilation System |
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Electrical Service and House Wiring |
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Plumbing and Fixtures |
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Floors and Stairs Structure/Finishes |
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Wall and Ceiling Structure/Finishes |
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Kitchen |
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Bathrooms |
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Attics |
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Roof Structure/Finishes |
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Exterior Wall Finishes |
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Windows and Doors |
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Other |
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Costing Your Project
The cost of your assessment will depend almost entirely on how many professionals you need. They might include an engineer, architect, electrician, plumber, carpenter or professional home inspector.
Additional Resources
Developed by Natural Resources Canada (NRCan), the ecoENERGY initiative provides a residential energy assessment service delivered by local organizations across Canada for a fee. Retrofits may be eligible for grants. To find a local service organization or grant information, visit www.ecoaction.gc.ca or call 1-800-387-2000.
Posted on
March 12, 2012
by
Barry Klatt
Posted in
alberta, barry klatt, canadian spending, finance, financial times, market trends, money talks, mortgage tips, news, properties, real estate, real estate invest, realtor, vacation home, vacation rental, your finance
A little more than $40,000 could be up for grabs when you purchase your recreational home in BC!
Good news for sure for real estate investors in the recreational market. Naturally there is a lot of new "unsold" recreational inventory around at the moment and this move by the BC government, while a little hard to understand is a welcome break for a sluggish real estate sector.
No rules in regards to the grant are available which actually refers to grants for second home purchases. The rules and regulations are expected to be published this month.
We do know it will be eligible for purchases of second homes up to $850,000 and is to be administered by the Province rather than CRA in relation to HST/GST rebates.
While it is a welcome break, it is curious in my mind why this would be administered as a grant/bonus. Years ago as the federal Conservatives toppled the long reigning Liberal government, there was talk of tax breaks/deferrals on capital gains for real estate investors. To me, this would appear to be a better long term strategy to assist with what is a very significant industry in our province.
For now however, we are dealing with a temporary grant program that will run from March this year to April next year with details coming as to what defines a second property and who is eligible for the rebate from the Province. We await with baited breath!
Ask me about how to start your search for investment properties in BC!
Posted on
February 20, 2012
by
Barry Klatt
If you are interested in investing in a vacation home or rental, please read an email I received from a fellow Realtor below. Please contact me for more information about investing down South.
Greetings from sunny Costa Rica!
With the "Year of the Dragon" in full swing, 2012 is shaping up to be an interesting year already. While much of North America has enjoyed a mild winter (so far...), here in Costa Rica the weather is just what you expect ... sunny ... warm ... every day! The past "green season" ended late with some showers coming in early/mid December 2011. Otherwise, no rain since late December and not expecting any until April. Just the way I like it! Not to rub it in too much, but the attached YouTube link gives you a taste of the weather and activities here. http://youtube/J6J9MYH9Q1I
Being my fifth winter here, it is obvious that it is just getting easier and simpler to live, visit and invest in Costa Rica! Pura Vida!
- The new airport extension in Liberia at Daniel Oduber International opened up this month, making the travel experience much more enjoyable.The terminal is now an air conditioned for both passengers and guests - no more waiting in the parking lot! LOL
- The Clinica Biblica medical centre is close to completion - expecting to further enhance the medical tourism industry here in the Pacific northwest. Costa Rica is internationally recognized as a destination for people looking for affordable dental and cosmetic surgeries, as well as more complicated procedures such as knee/hip replacements and even cardiac surgery. It is a $40 million dollar hospital and is just minutes from Liberia airport.
- New regulations adopted in September 2011 clarify visa requirements for foreign visitors to Costa Rica. Canada and the US are in "Group 1" and may enter without an entry visa as long as their stay is less than 90 days and their passport is valid for 3 months. Most "snowbirds" that want to stay more than 90 days take a 3 day "visa run" out of the country to either Nicaragua or Panama and renew their visa for a further 90 days when they return.
Speaking of easy ... I have attached a brochure for a property that I have recently placed on the market here in beautiful Playa Flamingo. "Casa Todo" - meaning "Everything Home," is a top floor condo right on the beach. Casa Todo comes completely furnished and includes a private garage AND a 4x4 truck ... for only $345,000 US. The property is stunning and has been meticulously maintained. Home ownership in Costa Rica couldn't be easier! Talk about all inclusive! Contact me if you would like further information and feel free to pass this information on to anyone you know who is considering investing or retiring south.
I want to take this opportunity to extend my best wishes to you for a New Year brimming with health and happiness. I look forward to staying in touch and welcome your call or email at any time.
PURA VIDA!
Linda Wilks
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