Calgary Real Estate Blog

In its 2016 budget, the Alberta government earmarked funds for launching rebate programs that would encourage consumers to make energy efficient upgrades in their homes; we are now starting to get details trickling out on some of those programs.

In an October 27 news release, Energy Efficiency Alberta (a government agency) announced three programs that would begin in early 2017, two of which are aimed at residential consumers and one at businesses. The programs would discount and rebate the purchase and installation of energy efficient lighting, appliances, and heating and cooling systems, among other upgrades.

While the details are sparse, this announcement is both welcome and long overdue, as Alberta is the only jurisdiction in North America without energy efficiency rebates for consumers. Alberta had a program that incentivized the purchase of energy efficient residential upgrades from 2009-2012, and that program issued more than 170,000 rebates over the three years worth more than $52 million. In addition to the positive environmental impact, the program led to economic growth and lowered Albertans’ utility bills. A similar initiative was announced by the government in 2014, however it was never realized.

The winter months can be a good time to make upgrades to your home, as trades tend to be less busy, and are therefore more readily available, and companies may offer discounts during slow months. Most businesses providing services like window upgrades, or furnace and hot water tank installation, operate year round despite some peoples’ incorrect assumption that nice weather is needed for these jobs to be completed.

So, now’s a good time to audit your home for what upgrades might make sense. How old is your hot water tank? Your furnace? Your fridge? (Believe me, you do not want to wake up to a warm fridge some morning). Put together a budget, and maybe even line up some estimates, so that when the details of these rebate programs are fleshed out, and the cheques start being cut, you’re ready to go. Sometimes programs such as these have caps, meaning only the first $XX in applicable spending will qualify, so if you’re looking to upgrade your home, don’t miss out.

Want to chat about which upgrades will have the best bang for your buck with regard to the value of your home? Contact me today!

The Alberta government has announced it is opening the Condominium Property Act for review and public consultation, something that hasn’t been done in thirteen years. It’s about time, I’d say. Apartment-style condominiums have become the de facto starter home: they’re relatively low cost, often come with appealing amenities for singles and couples, and tend to be located where the action is rather than in quiet suburbs (although there are plenty of non-central condos in the city too, holding special appeal for seniors and young families). Calgarians love condos, is my point, and in my opinion management companies have been, shall we say, benefitting a little too much because of it.

What’s my beef with some management companies? Well, among other things, the fees they charge owners for copies of their own condominium documents at the time of sale are simply ridiculous: $400 for a complete package is common these days. To put that in perspective, condo sellers might pay in the neighbourhood of $600 to their lawyers for that same transaction, with all the various tasks a lawyer performs; the management company is getting two-thirds’ that amount to merely run a photocopier or upload docs to an online repository. To make matters even more absurd, the documents requested belong to the condo corporations, yet those corporations don’t see any of the money paid to the management company for putting them together – and they’re already being paid a fee by the condo corp!

Of course things are never quite this black and white, and I’m sure management company reps would have a thing or two to say in response. But my point is, our market continues to boom and a good chunk of the properties changing hands are condos. There’s not going to be a better time to let the government know what is and isn’t working with the Condominium Act. Beyond the fees charged at the time of sale, warranty issues, dispute resolution, board governance and a host of other elements could use tweaking; I encourage anyone with skin in the game to take the government up on its offer to listen to what you have to say. Participate in the survey and make your voice heard.