Modern plumbing makes renovations easier

Modern plumbing makes renovations easierWater supply pipes aren’t what they used to be — and that’s a good thing. Innovations have made water supply systems easier to install and more durable because of something called PEX pipe.

PEX is easier to install because it’s flexible. This lets your plumber install water supply lines where it would otherwise be impractical or highly disruptive to do with rigid pipe.

Flexible pipe connected to manifolds also makes it easier to control everything from a central location. Instead of shut-off valves at each fixture, a manifold installation puts all your shut-offs in one handy and easily accessible spot.

Finally, PEX won’t crack if it freezes with water in it. While you’ll still want to drain water from cottage pipes that will drop below freezing temperatures over the winter, if some water remains, it won’t mean a plumbing disaster in the spring.

When you hire a plumbing contractor to work on your home, make sure they do business the right way with a full written contract or work order that covers the work to be done, its cost and the warranty. The Canadian Home Builder’s Association offers free, unbiased information on how to hire a contractor the smart and safe way. Find more information at www.getitinwriting.ca.

www.newscanada.com

Major changes coming to new home building methods

Major changes coming to new home building methodsAcross Canada, home builders are adopting new approaches to construction to create greener homes with better resale value. One major change that’s tackling energy consumption and rising fuel costs is the use of an air-tight, solid concrete system to replace inefficient wood-framing. Insulated concrete forms (ICFs) erect a building with an interlocking system, similar to Lego.

“It’s a switch for builders, but those who have switched over tell us it’s quite easy to build with ICFs,” says Natalie Rodgers of Nudura, a leading name in the field. “Customer demand has driven this change and builders are now seeing how green construction options can have a positive impact on their business.”

The ICF system is now the number one choice of wall-building methods for “net-zero” construction projects south of the border. The term net-zero applies to buildings that are so energy efficient, they don’t tap into any public utility fuel supplies. The goal is for as many homes, schools and public buildings as possible to be designed to be net-zero. Here are some advantages of net-zero construction using ICF.

Building guide. Underscoring these proactive measures, the non-profit organization, LEED also reminds us that constructing a green home leaves a much smaller carbon footprint due to less demand on natural resources. It will create less waste and be healthier and more comfortable for the occupants.

Fuel savings. Walls built with ICFs are proven to reduce energy bills up to 60 per cent; reduce greenhouse gas emissions; and reduce or eliminate exposure to mould, mildew and other indoor toxins. The net cost over time is comparable to owning a conventional home and the resale return is generally assured.

Durability. Concrete is strong. Due to high-impact resistance, these concrete walls assure maximum safety in high wind areas. Fire resistance is also reported to be maximized at four hours.

Comfort. Unlike in conventional wooded frames, air gaps are eliminated in ICF, minimizing the potential for mould growth and draft. The end result is an airtight structure enabling the mechanical systems to heat, cool and ventilate the structure more efficiently, creating a healthier living and working environment.

Responsibility. The materials are recyclable and the system is designed to create less landfill waste during the construction process. Combined with other eco-construction methods, this concrete system will significantly reduce carbon emissions by lowering the amount of fossil fuels needed for heating and cooling.

www.newscanada.com

How mortgages have changed

How mortgages have changedIf you’re like millions of Canadians, you’re busy paying down your mortgage. It could take 25 years or so, but it can be a great way to accumulate personal wealth, especially if house prices rise. However, with changes to mortgages in recent years, it’s important to understand just how they are different if you want to fully benefit from your home’s potential to build your personal wealth over the long term, rather than your debt.

Today, to finance your house most banks will offer you a readvanceable mortgage if you have a down payment of 20 per cent or more. It combines a traditional mortgage with a home equity line of credit (HELOC). There’s a big difference between these two forms of debt.

First, your mortgage debt only goes one way — down — because you must make regular payments against both the interest and the principal borrowed. This increases the equity you have in your home, meaning the difference between what you still owe and the value of your home.

But as you pay down your mortgage, a HELOC lets you borrow against your growing equity as part of your mortgage. Unlike your mortgage, you only have to make regular payments against the interest. You can ignore the principal until you sell the house. This short-term credit advantage can mean a long-term debt problem.

With flexible repayment terms, low interest rates and a credit limit that rises with your equity, a HELOC can be used to pay off other, higher-interest debt or home renovations.

But would a HELOC tempt you to use your home like an ATM? Mounting HELOC debt could put you at increased risk if you lose your job, get sick or injured, interest rates go up or your home decreases in value. If it consumes too much of your equity, you might end up owing more than your home is worth, lose your home or have to sell it to pay down your debt.

To use this borrowing tool wisely, stick to a plan to pay it off fully and avoid continually borrowing against your home equity.

Learn more online at canada.ca/it-pays-to-know.

www.newscanada.com