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Buying Ottawa Real Estate Versus Buying An RRSP

Have you ever wondered what the difference would be between buying an investment property and buying an RRSP? Which one would yield you a higher return upon your retirement?

Let’s say you have $ 50,000 to spend on an investment. Of course, you have many options, but we will discuss two.

Option #1 – RRSP

One option is to buy a $ 50,000 RRSP. You hold this long-term investment for approximately 15-20 years, at which time you decide to retire. The “rule of 72” for investing purports that an investment will double its value in 7.2 years at 10% interest. If your RRSP earned 10% interest, it would double twice in approximately 14.4 years. Therefore, your original $ 50,000.00 would have increased to $ 200,000.00 at the time of your retirement.

If you don’t think your investment will make 10% interest, simply decide which interest rate is reasonable and divide it into 72 to find out how much time it will take to double your money. For example, if you think your investment will return a rate of 8%, divide 8 into 72. Your investment will double in 9 years at that rate of interest.

At the time of your retirement, you decide to use your RRSP as income, which is taxed at your retirement rate of taxation. What do you think your rate of taxation will be at retirement? If you think your rate of taxation will be 30%, your $ 200,000 nest egg will be worth $ 140,000. If you think your rate of taxation will be 50%, your $ 200,000 nest egg will be worth $ 100,000.

Option #2 – Real Estate Investment Property

Another option is to buy an investment property. Let’s say you find an investment property in the Ottawa area for $ 200,000. You use your $ 50,000 as a down payment on your property. You charge enough rent to pay for the mortgage payments, insurance, realty taxes, renovations, and vacancies. The tenants pay all utilities. After approximately 15-20 years, you are ready to retire. The mortgage has now been paid in full. At this point you have two options:

1. The first option is to continue to rent the property and keep the rental profit as monthly income.

2. The second option is to sell the property and use the profit as retirement income.

Let’s say you decide to sell the property for $ 200,000. The entire $ 200,000 is tax free, since you did not realize a capital gain on the sale of the property (you bought and sold it for the same price). This example assumes that your property is still worth $ 200,000. What do you think this property would be worth after 15 or 20 years? Statistics obtained from the Ottawa Real Estate Board show that since 1956, the average increase in value for a property over 15 years was 99.41%.

If you sell the property for higher than you bought it for, you will realize a capital gain and pay tax on the profit. For example, selling the property for $ 400,000 (this is a realistic amount considering the statistic mentioned earlier) will give you a capital gain of $ 200,000. Today’s income tax rules charge capital gains tax at your tax rate on 50% of your capital gain. In this scenario, you will be charged tax on $ 100,000 (50% of $ 200,000) at your tax rate. Assuming a tax rate of 30-50%, you will pay between $ 30,000 and $ 50,000, in income tax. This is not bad considering you have the remaining $ 350,000 to $ 370,000 in your pocket!

An important item to consider when evaluating your investment options is how much hands-on involvement you want in your investments. If you like to be involved in your investments and you are a handy person, an investment property may be the right choice for you. If you want to invest in something and not think about it until you retire, then an RRSP may be the right choice for you.

In any case, we always recommend that you speak with an investment professional before deciding on any course of action.

Happy investing!

Ray Otten is an owner of OttawaProperties.com Ottawa’s leading real estate team. Their team approach helps you save money and time by selling your home in Ottawa for more money in less time. Their professional Sales Representatives will assist you in finding the ideal home for you and your family within the competitive Ottawa real estate market, by launching their High Energy Home Buyer action plan. Visit http://www.OttawaProperties.com or call us at 1-800-341-1590 today!

Article Source:
http://EzineArticles.com/expert/Ray_Otten/113657

By Dave Ottawa Renovations • • 0 Comments

Elegant Kitchen Renovations

When upgrading the kitchen, keep in mind that you are upgrading the kitchen not just for resell value, but for your own fun. These days, the kitchen is more becoming the social epicenter of a home and we always want an stylish and resilient place that we can amuse and work on for years. If money is not an issue and you want the best kitchen (Kitchens Calgary), here are a few guidelines to get the look and excellent you want.

Choose a conventional Victorian kitchen design for a proper and stylish look. This design is feature of U. s. and Western residences of the Eighteenth, Nineteenth century and early Last decades. Title and string creating, fluting, corbels and other artwork and decrease make a fantastic look fit for a king. Enhance this design with conventional looking accessories and equipment. For the cupboard gates, black and hefty timber such as cherry and pine is the top choice. Apply elaborate cuts and creating on stylish cabinet’s information such as church posture and increased sections. Top off your display cases with hefty crown creating and loaded up to the threshold to make use of available place. Include cupboard options such as point entrance gates, liven holders and move out line holders for more features.

Go for a more individual look on your equipment and spend more on excellent. Remember that you want to enjoy working in the kitchen so do not keep on excellent and features when selecting equipment. There are new products available such as menu socks, built-in java systems, state-of-the art ranges and high-tech dish washers that could do most kitchen tasks without raising a kid’s finger. Buy your equipment from well-established market manufacturers that provides good after-sales-service and long-term guarantees.

Choose the longevity and splendor of a granitic reverse top. According to contractors and experience from home owners, granitic is one of the most resilient elements available for kitchen counters. It is immune to discoloration and discoloring and it isn’t topic to losing by hot containers or dishes. It is also available in a range of designs and pigments to go with your display cases and ornaments.

For the earth, timber is suitable. Hardwood flooring can be predicted to last for years with little repair and can be quickly fixed if broken. If a face lift is in order, it can be sanded and refinished as preferred to give it a whole new look. The splendor of timber complete can quickly go with the décor and design of your kitchen.

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What Bathroom Renovations Entail

‘Bathroom renovation’ refers to the process of improving a bathroom by making some changes. A bathroom is a place to relax and take comfort. Renovating a bathroom will increase its quality and give it a new look, thus adding to the home’s general value. Renovating the bathroom may be easy if one has knowledge of what to do and how to go about it. This also calls for consideration of the cost of the renovations.

Like any other room in the home, bathrooms need proper maintenance as they wear out after some time. Renovating a bathroom requires repairing, replacing or improving its size, fixtures, piping, and color, amongst other things. Renovating a bathroom entails a budget for each and every item needed for the process. This allows for a smooth renovation.

A bathroom renovation requires addressing specifics. These include physical features such as furniture, a bathtub, sink, taps and shower head. These are some of the important features to consider when renovating, as they are essential to the bathroom. Renovation starts by replacing and repairing storage cabinets and sinks that may be broken. For a bathtub, consider a size that offers ample space and luxury when bathing. The tub is also dependent on the size of the bathroom and the number of people using it. This fixture should come in a color that is appealing and adds to the beauty and value of the bathroom.

Renovations also include flooring. Bathroom floors are mostly tiled. These tiles should be durable and water resistant. Bathroom floors should not be too smooth or slippery so as to avoid accidents.  Renovating or repairing floors, such as hardwood floors, provides a clean finish and maintains natural warmth in the room.

Ventilation is another thing that needs to be considered during bathroom renovations. This adds to the beauty of the bathroom and keeps it in good condition. Good ventilation curbs the growth of molds in the bathroom, which might be brought up by dumpy conditions. Mold affects the bathroom furniture, thus lowering the value and quality of the bathroom in general. Bathroom ventilation would include fans. These fans should not be noisy as that would be disturbing to your bathroom relaxation.
Renovations also involve lighting. Bathroom lighting should not be too bright as that affects ones eyes. It should be warm and bright enough to bring out the colors and beauty of the room.
Mirrors are vital and a must have when undertaking bathroom renovations. Mirrors are prone to breaking, and replacing them is part of the renovation process. The bathroom is not beautified by integrating many mirrors onto the walls. Having a few stylish lit mirrors at specific positions in the bathroom might be more adequate.

Spacing also matters in a bathroom. Renovations of a bathroom should allow for maximum utilization of space and ease of movement when using the bathroom. The use of cabinets provides a place to keep bathing supplies, hence providing ample floor space in the bathroom.
When renovating big bathrooms with lots of space, luxury can be an additional aspect of the space. Adding features like a fireplace and television sets offers one a luxurious feel of relaxation when taking a bath. This space could also be fitted with furniture for added comfort as well.

Bathroom renovations cover every bit of the bathroom. It may include a partial makeover, or replacing everything with modernized fixtures and gadgets for a more up-to-date bathroom. It’s always a good idea to upgrade the bathroom, every now and then.

 

 

For more information, please visit Salle de Bain

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Kitchen Renovations

A kitchen is one of the most frequently visited places in the house. Apart from the main purpose of cooking, kitchen is also used for various other purposes too, like dinning or having tea parties. Due to cooking, cleaning and children and pets staining the walls, the kitchen can go through a lot of wear and tear.

Kitchen Renovation Ideas

Planning
Before you start removing old items or adding new items to your kitchen, first thing you need to do is make a kitchen renovation checklist. First take a little round of your kitchen, and check for every single thing in the kitchen; which parts of the kitchen need necessary replacements and which parts of kitchen need repairs. If you have a big budget, then go for replacements, however if your budget is small then you can repair parts which are in decent condition. So, check everything; kitchen cabinets, pipes, paint, lights, switchboards, sinks, appliances, windows, door, ceiling, etc. Once you are done with your checklist you can estimate the kitchen renovation cost, and proceed accordingly.
Painting
Interior painting for kitchen renovations should be done according to the kitchen renovation designs. If you have small kitchen designs then stick to shades which are close to white, so that the kitchen looks larger. If you have a large kitchen then consider going with a two color paint scheme, like lavender white, aqua white, red black, etc.

Flooring
If your previous flooring is spoiled then consider going for a new wood flooring. Hardwood flooring are expensive, if you are on a tight budget then consider some laminate bamboo flooring which are quite inexpensive; and laminate flooring can be installed without hiring a professional, thus cutting down the kitchen renovation cost.

Lighting
If you want to install additional kitchen lighting, or contemporary designs of light then look on the internet. Buy items which go with the design of your kitchen, and place the right amount of lights.

Kitchen Furniture
Modular kitchen furniture provide many shelves and other compartments to store all your utensils and also have space for keeping your kitchen appliances like oven, refrigerator, dishwasher, etc.

Adding Accents
Add few decorative accents to your kitchen which go with the kitchen decor. You can add few items like houseplants, vases, light fixtures, a bowl of fruit, paintings, etc.

more imformation:-Kitchen renovation

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Kitchen Renovations

As the place where the household inevitably gathers, a kitchen needs to be as warm and welcoming as it is functional. In no other room in the home is it so important to create an environment that feels like home. The desire to make a kitchen more than just a place too cook is one of the primary reasons that kitchen renovations are so popular. Those who love to cook want their kitchen renovation to offer them function and convenience, too, with products, materials and appliances that enable them to pursue their culinary passions.

The Best Kitchen Layout

Kitchens are busy places, full of movement. When designing a new kitchen, it’s imperative to keep traffic patterns in mind. Professional designers approach kitchen layouts with one of two strategies. The traditional “triangle” approach keeps the stove, refrigerator and sink within easy reach of each other. In shared kitchens, however, a zoning approach can be more effective. When children are doing homework in one area of the kitchen, parents may not want them to have to pass hot stoves and ovens to reach the refrigerator.

The kitchen’s existing floor plan can affect the layout of kitchen renovations as well. Moving existing electrical outlets or plumbing lines can significantly add to the expense of a kitchen renovation. An experienced contractor can usually handle a small move for a sink or a stove without installing new plumbing or wiring, but unless the homeowner is determined to start from scratch, keeping existing utility lines in place is usually a good idea.

All Systems Go

Designing a kitchen requires a safe coordination of systems to accommodate a variety of appliances. An elaborate, large stove places more demands on the ventilation system than a smaller model, particularly when the renovation includes a kitchen island stove. An abundance of new kitchen cabinets means the kitchen will likely require additional lighting. The electrical system needs to be able to handle all the new appliances that the homeowner wants as well.

An Island in the Storm

A work station that can be accessed from all sides is what make kitchen islands so ideal for kitchen renovations. Many kitchen islands today have a “working” side and a “guest” side. The cook rules the working side of the island, and islands that provide the storage and appliances needed for the task at hand work best. Whether it’s a butcher block surface for food preparation or a marble countertop for baking, the materials used in a kitchen island should be chosen for function as much as they are for style. On the guest’s side, leaving room for bar stools or chairs invites family and friends to congregate comfortably.

Even in the early planning stages for a dream kitchen, getting advice from a professional designer or architect can help ensure those dreams are realized. These professionals make their living by staying up to date on all the technologies, products and materials that can turn an ordinary kitchen into something extraordinary.

We are your number one choice for  and kitchen renovations. Our contractors are available for any of your home renovations.  1st Choice Home Solutions 688 Shaw Rd. Dorchester, Ontario N0L 1G0 (519) 268-6331

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Budget Bathroom Renovations

When you make a decision to renovate your bathroom you will be expecting to either spend a lot on a complete new bathroom or to just update the bathroom you have. If you decide that you need to renew your bathroom suite as well as new tiles it will be worthwhile consulting an expert in this field.

Of all the household jobs the novice handyman undertakes, bad plumbing has the potential to cause the most damage and therefore cost massive amounts in repairs and remodelling.  A seemingly properly plumbed in bath may seem for a while but behind the scenes may be dripping down through the floorboards and interior walls.  Only after months of damage will this become apparent, but will leave you with a huge repair bill.  So without question – if you’re in any doubt about doing it by yourself then get a plumber in to do it properly!

On the renovation side of things, there are so many new types of baths and showers to choose from it would probably make your head spin.  So make sure you visit your local bathroom suppliers and they’ll advise you on what is best for the size of your bathroom and if it is possible to install a power shower. A power shower depends very much on the water pressure in your area.

If you are in a low pressure area it is possible to install a further tank. If you have enough room you can have a walk in shower. When it comes to baths you will be spoiled for choice. Jacuzzi and whirlpool baths are very popular at the moment as are Victorian baths. If you are going to spend on a bathroom renovation you can turn it into the most luxurious room in the house.

On the other hand your bathroom renovation may just involve updating your present room. You could start with a new coat of paint. This will freshen up the bathroom immediately. A new light fitting will also help change the appearance of the room and you can get a great selection from most reputable DIY stores.

If your bathroom is constantly cluttered it is a good idea to invest in some extra storage cabinets. These can be fitted over the hand basin to store toiletries such as toothpaste and makeup. Cabinets for under the hand basin can be used for larger items such as spare towels and toilet rolls. If you are thinking of replacing the floor tiles you should look for end of line bargains as you can get top of the range tiles at a fraction of the cost.

You may need to re grout the tiles surrounding the bath and this is not a difficult job but it will make a huge difference to the overall appearance of the bathroom renovation. Investing in new towels to coordinate with the new colour scheme will complete the look of your newly updated bathroom.

For more information on Bathroom Renovations check out Bathroom Renovations Dublin or visit: Home Renovations

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Quick Kitchen Renovations

Kitchen Renovations (Kitchen Renovations Calgary)do what they say on the tin – they swiftly upgrade your baking area so you can appreciate a new one. This is a wish for many individuals due to the stress involved in normally upgrading your baking area. In most cases upgrading your baking area will take you several weeks and that indicates several weeks of having many plaster everywhere, many operate clothes, many traditional and some individuals you don’t know walking around the home. You won’t be able to get to your chiller and you won’t be able to get to your refrigerator so you will be eating warm foods like breads. Add to that the fact that you won’t be able to get to your toaster or range and that indicates that it will be soft breads with nothing too serious on it. On top of this you’ll have to consistently be around as a way to let individuals in and out of the home and this can get in the way of your common program and even of your operate.

Thus getting fast Kitchen Renovations (Kitchen Renovations Calgary) is a highly excellent option that can help you to get the home typical again as swiftly as possible while guaranteeing that you also get to benefit from a brand new baking area that you can appreciate a bit of your energy and effort in, displaying off to individuals and generally using. The baking area is one of the rooms in the home where we invest the most time functioning. It is typical to invest period in the baking area functioning as that’s what it’s for – planning foods, cleansing items, cutting items up – and that indicates you’ll need to go in there at least three times a day to create all the foods.

This is fine if the Kitchen is nice and clean, but if it’s old and small then you will feel claustrophobic and you won’t appreciate period in there. This can create a hurried meal in the early morning even more demanding than it needs to be. On the other hand a very well designed baking area can create life easier by offering many operates areas and many other characteristics that can create your task simpler.

Kitchens also have many characteristics and all of these are crucial for baking. Thus the baking area will date swiftly as today’s technology helps all of these characteristics. If you want to wow your readers with a performing and moving present day home of the next day, then getting baking area remodeling is one of the best ways to do so. And it’s not just readers you’ll wow either – it’s individuals who might be looking at your home and so it can add a lot of value to your home or home thereby paying for itself really.

The best way to get baking area remodeling done swiftly is to use a excellent service provider. A service provider is someone who will generally act as a kind of ‘director’ for all the operate that is going to be done on the home.

To get a quick baking area restoration must knows done, you need to take your some time to effort making a baking area design. We put a new one in our investment property or home with the help of this baking area remodeling Victoria business.

Kitchens Calgary – JR Kitchen Interiors do remodeling,Kitchen Cabinets Calgary, Kitchen Renovations, installation and prefacing of kitchen cabinets & counter tops.

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Bathroom Renovations

The bathroom renovations is a project that for most is completely new. While bathroom renovations can be confusing, with guidance around the following areas you will soon be on your way to a dream bathroom:

-Products and services
-Cost
-Design

These elements are but a few of the factors which will emerge once you decide to embark on your Bathroom Renovations project. Following is a very quick guide to some of these unknowns, which in conjunction with help from the experts will assist you in future bathroom renovations.

Product – bathroom products include; tiles, accessories, mirrors, lighting, sanitary ware and tap ware to name but a few. The best way to approach this collection of what most would consider to be completely unknown products is to seek advice. Firstly visit retail outlets which distribute the products you are after, showroom staff will generally be able to provide you with advice and feedback on product. Secondly, engage a bathroom renovator to assist you with the work. Not only will they be able to provide helpful advice on product selection but they will also be able to source or possess the skills necessary to complete the various elements of the renovation –tiling, plumbing, wiring and waterproofing.

Cost – budgeting is an essential part of any bathroom renovation. Bathroom renovations require a minimum consideration of around $ 15k for a full makeover. A good exercise is to break your costing down into two elements – labor and product. Labor is relatively static – that means for example that the cost of putting down a meter of tiles will be relatively similar no matter who provides the service, likewise for the plumbing and waterproofing.

For the products, decide on the look you are after and create a wish list to compliment this. Once you have these figures, work out what you can afford to spend, if the figure is lower than your budget – get started! However if you cannot afford the specification you have created seek out ways to reduce this. The best place to start is by seeking alternate products which provide a similar list of features; this may include slightly less exclusive tiles, taps or sanitary ware. Another prudent step is to get several quotes on both the labor component and product component.

Design – Great places to start are bathroom magazines and bathroom showrooms. Lifestyle shots and displays provide excellent inspiration. The first way to narrow down the search is to consider size; this will narrow down the scope of possibilities available to you. Second, think about the broader structure into which the bathroom is placed. If the structure is for example modern/minimalist in appearance, a certain type of bathroom setting will naturally work.

While the thought of bathroom renovations may leave you feeling lost, with a well thought out plan and advice from the experts you can achieve your dream bathroom.

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Sydney Home Renovations

Home renovations are generally considered for one of the following three reasons. The first and most obvious one is to have necessary repairs done; this type of renovation from time to time is ongoing throughout your stay in your home. 

It can happen though, when you first move in, that your new house needs a major overhaul soon after buying it. You may have discovered it before you bought it, and factored these repairs into the cost of buying the house, or it may all have come as a nasty surprise, once you got to know the house better. 

The second reason is to update your home and make it more modern and possibly more acceptable to a new buyer. This type of renovation is usually part of the preparation to get your house market ready, and for sale. 

The third is usually the most enjoyable reason. It is the type of renovation one dreams of. That is, to turn your house into the type of home you have always fantasized about. 

This usually comes at a time when you finally have the money you need, or your children have grown and your house can become less practical and more aesthetically pleasing. Or it may simply be that at last you have some extra time to spend re-designing your surroundings. 

Many people consider that Sydney has almost the perfect climate, a little hot and humid at times in summer, but with pleasant and mild winters. For this reason, people tend to live and entertain a great deal outdoors. 

Quite a lot of the home renovations people go for to improve their lifestyles are to add on patios, larger windows and patio doors, outdoor barbecue areas and to open up old-fashioned small rooms into airy open plan living areas. 

This sort of renovation usually means breaking through walls and windows and even opening up previously blank walls. 

Many people want more space and feel that a solution would be to add on another wing, extra bathrooms, or even go up and add an upper storey. 

When sections of wall are to be removed, or upper floors added, it is important to get really good advice about the structure and soundness of your house, its roof and foundations. If you choose a really experienced and knowledgeable firm of building contractors, they will be able to tell you just what is safe for you to have done, and to offer better alternatives if necessary. 

You will be wise if you choose a construction firm that is affiliated to the Master Builders Australia or one of the nine State and Territory Master Builders Associations that come under the national umbrella. 

To be a member of the ‘Master Builders’ means that the company is part of a group that consists of both international and national builders that go from large commercial and civil contractors, all the way down to small subcontractors and small home builders and repair firms. 

Even professionals in the advisory sector and suppliers of building materials frequently belong to this organisation. 

What it means is that, among other things, the members are required to measure up to the requirements and building codes and standards that have been proved to create safe and strong structures. 

Apart from knowing that the company you choose is complying with the building regulations for your area, you will be reasonably sure that fair business practices and other legal limits will be adhered to and your attention could be focused on the design of your home rather on how good a job the construction company is doing.

When you work with http://www.jcrottyconstructions.com.au/ for Sydney Home Renovations or for Commercial Building Services, you work with a master builder that takes the time to understand your needs and realise quality results, regardless of the size of the project.

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