Winter is coming… With the changing of the seasons, it can be a good time to take stock of your home and ensure you are ready for the winter and it’s colder weather. To help you feel more comfortable, save on bills and prevent future repair costs, there are some simple things you can do to prepare for the coming season.

Tending to minor problems yourself, or booking a professional now, will save you time and aggravation later. Once the poor weather hit, it makes it harder to tackle home maintenance jobs!

MIND THE GAPS

Search exterior window frames, doors and siding for cracks and gaps where water could get in. Doors and windows commonly have gaps that let cold in and heat out. Some will be easy to fill or fix yourself but could save you money and damage down the line!

CHECK YOUR PIPES

Checking your pipe joints for leaks that could cause rot and damage will save you trouble in the future. Repair any cracks you find, especially those around electrical outlets and alarm system lines. Another tip is covering your pipes around your hot water tank. This will help them hold the heat in and keep the water warmer longer without fuel. Many inexpensive options are available for all tank and pipe sizes. Make use of blankets if you are on a budget!

INSULATION IS KEY!

On a snowy day go outside and look at your roof; you should see snow on the roof. If you can see your roof that means the attic is not insulated well, therefore heat is escaping and melting the snow. Almost any home can benefit from added insulation; invest in a good solution now to save you in the future. Foam pipe insulation is easy to install and can prevent energy loss and potential water damage from frozen pipes. Plus, if you find you are really having a hard time keeping the heat in, you can consider  insulated flooring! Massive heat loss occurs through your floors. Even an added area rug can improve insulation, and make sure to fill any gaps in your flooring with silicone.

SERVICE YOUR HEAT SOURCE

Before Winter starts, be sure to have a professional check and clean your heat sources. You should have your chimney cleaned regularly if heated by wood, or make sure to update your oil heater’s filters and service gas furnaces regularly. A technician can check for both efficiency and hazards.

MANAGE YOUR THERMOSTAT

As tempting as it is to turn your heat all the way up in the winter, proper thermostat management will help you save in the long run. Have your heat sources inspected for efficiency. Also be sure to check for gaps and drafts in your home to help it retain heat much better! By using a thermostat with a timer, you can save even more! Turn it on early so the room heats up in time for use versus cranking the heat when you need to get warm quickly. Have the heat turn off 30 minutes before bed or before leaving the home. If you find you are chilly at night, a safely positioned space heater and closed door will be much cheaper!

CLOSE THAT DOOR!

To keep your heating system from working too hard, close doors when rooms are not in use. This prevents heat transfer out of vacant rooms, and will ensure your active space remains warm and cozy.

CREATE A STORM KIT

A storm kit is a handy source of essential items in the event of losing power. Consider what you and your family might need. Some basics include a flashlight with new batteries, candles, matches, a portable radio, water and snacks. Keep your kit somewhere easy to access.

DLC Marketing Team

LOOKING FOR A MORTGAGE… YOU BETTER KNOW YOUR CREDIT SCORE

Over the last month, as the big banks and many of our monolines mortgage lenders wind down their fiscal year, we are starting to see some very obvious changes in what your credit score can get you.

I heard a few months ago that 720 beacons were going to become the new 650. The 650 beacon credit score for many years was the mid-range norm for most mortgage lenders. Today on many of the sites we use, we are seeing that the primary borrower must have a credit score of 720 and the secondary beacon can’t be below 650. It’s a big change from what we have seen in the past.

There are more changes coming as the banks will need to set aside more balance sheet if your mortgage is conventional. The one report I read said that if your credit score is lower, then the banks will now need to set aside 1.5% or possibly more if the score is low enough. That of course will then mean that an investor will need to be compensated more for having that in their portfolio, aka higher rates for you on a conventional mortgage.

If you are in the market for a house and you don’t know where to start, at least contact Dominion Lending Centres mortgage broker who can guide you through the process and let you know where you start.  If you use a DLC broker, they can set you up with a CleverCredit account and you can work together to make sure your credit is strong enough to apply for a mortgage when the time comes.