Fall can be one of the best times to give your home a little attention before winter sets in.

Start with the things that are easy to forget once the temperature drops. Have the eavestroughs cleaned out, wash the exterior windows, and check exterior lights, steps, railings and walkways for anything that needs attention before snow and ice arrive.

A few seasonal touches can also make a big difference. Simple planters, ornamental grasses, a fresh doormat or a tasteful wreath can make the entrance feel inviting without looking overdone. As the days get shorter, good exterior lighting becomes especially important.

If you’re thinking about selling in the next six months, have some exterior photos taken now. Green grass, mature landscaping and fall colour will almost always photograph better than snowbanks and bare trees. Even if you don’t list until winter, having great seasonal exterior photos ready can be a real advantage to show how pretty your home is in fall.

Fall is also a good time to look at your home the way a buyer will eventually see it: from the street, up the walkway and through the front door. A few small improvements now can make the property feel noticeably more cared for.

As the temperatures drop, fireplaces start earning their keep again. But if you’re adding or replacing one, which type makes the most sense?

Wood-burning fireplaces have the unbeatable crackle, smell and atmosphere many people associate with a cozy home, but they also require the most work. You’ll need a supply of dry wood, regular chimney cleaning, and more hands-on maintenance.

Gas fireplaces offer much of the warmth and ambiance with considerably less effort. They turn on instantly, don’t require wood storage and are an attractive feature for many buyers. The trade-off is installation cost and the need for a gas connection.

Electric fireplaces are the easiest option to add almost anywhere. They’re relatively inexpensive, require little maintenance and can provide supplemental heat, although they don’t have quite the same feel as a real flame.

For resale, I’d generally consider a well-installed gas fireplace the broadest-appeal option in Winnipeg, particularly in a main living room or finished lower level. But sometimes the right answer is simply the one you’ll actually use.

There are several options to help reduce barriers to entry into the housing market in Canada. Aside from the HBP, these didn’t exist when I bought my first home. I really wish they had.

I would LOVE for my first time buyers to know about these before they start shopping. You can save faster and potentially get a better home on your first try.

In my opinion, these are a bit of a no-brainer. Tell me what YOU think.

I always recommend looking into these programs long before you think you’re ready. Yes, YEARS before. Talk to your accountant or mortgage broker so it fits your situation. Don’t have one? Send me a message and I’ll connect you. Real estate questions are always free ;)

WHAT IS A FIRST-TIME HOME BUYERS TAX CREDIT (HBTC)

The Home Buyers Tax Credit is a federal non-refundable tax credit. It encourages Canadians to enter the real estate market by making home buying more affordable. The purchased home must be in Canada and registered with the appropriate land registry office - in your name, or in your and your spouse’s or common-law partner’s names.

• Amount: You and your spouse/partner can share a total claim of $10,000, resulting in a maximum of $1,500 in tax savings.

• Eligibility: You must have acquired a qualifying home (single-family, condo, townhouse, etc.) as your principal residence and not have lived in a home you owned in the year of purchase or the four preceding years.

• Qualified Homes: The credit applies to new and existing homes located in Canada.

• Homes under construction also qualify. You must move into the finished property within one year of the purchase closing date.

• How to Claim: Use Line 31270 on your federal Income Tax and Benefit Return for the year of acquisition. 

• Disability:  If you or your spouse/common-law partner has a disability, you do not need to have not owned a home in the last four years to qualify.

WHAT IS A HOME BUYERS’ PLAN (HBP)

The Home Buyer’s Plan (HBP) is a program that allows you to withdraw from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or for a specified disabled person.

• Withdrawal Limit: As of April 16, 2024, individuals can withdraw up to $60,000, or $120,000 for couples.

• Repayment Terms: The withdrawn amount must be repaid to an RRSP within 15 years.

• Repayment Schedule: Repayments typically start the second year after the withdrawal, with at least 1/15th of the total amount due annually.

• Missed Payments: If you do not make your annual minimum repayment, the amount is added to your taxable income for that year. 

Eligibility Requirements:

• You must be a first-time home buyer, defined as not owning a home you occupied in the current or four preceding calendar years.

• You must have a written agreement to buy or build a qualifying home.

• You must be a Canadian resident.

• The funds must be in the RRSP for at least 90 days before withdrawal.

NOTE: Temporary relief has been provided to those who made a purchase between January 1, 2022 and December 31, 2025. Accordingly, the 15 year repayment period would start the fifth year following the year in which a first withdrawal was made. For example, if you made your first withdrawal in 2022, your first year of repayment would be 2027.

WHAT IS A FIRST-HOME SAVINGS ACCOUNT (FHSP)

A First Home Savings Account (FHSA) is a registered plan which allows you, if you are a first-time home buyer, to save to buy or build a qualifying first home tax-free (up tocertain limits).

Your FHSA participation room in the first year you open your FHSA is $8,000. Contributions to an FHSA are generally deductible and can be used to reduce your tax. Transfers from your RRSP’s to your FHSAs are not deductible.

NOTE: You can combine the HBP with the FHSP for the same purchase.

WHAT IS THE NEW FIRST TIME HOME BUYERS’ GST REBATE PROGRAM

The FTHB GST/HST rebate provides eligible first-time home buyers with a full or partial rebate of the GST (or the federal part of the HST) on newly constructed or substantially renovated homes. Eligible individuals could get a rebate of up to $50,000.

This rebate can help you recover the taxes paid on your home, whether you purchase a new or substantially renovated home, or have one built. To determine if you are eligible for the rebate, go to First-time home buyers’ GST/HST rebate . There is a time limit to apply for the FTHB GST/HST rebate – usually it is within two years of taking ownership or finishing construction, so make sure you apply within this period.

NOTE: Not to be confused with the First-Time Home Buyer’s Tax Credit.

If you are even thinking about buying one day, this is worth understanding early. It can open doors of possiblity for you in savings. 

Happy Shopping!