Fall in love with your home and your workspace again with these tips to help you make your home office space more productive!

1. Establish Boundaries: A key component of being more productive at home is to establish proper boundaries between work and personal life. While not all of us at home have space for a dedicated home office, it helps to create a dedicated area in your house such as your kitchen table. In addition to having a dedicated physical space to create boundaries, establishing when it is time to focus on work versus switching off for the day is key. Establishing norms such as time and location can make a big difference in ensuring productivity, but ensure you have discussed with your manager and/or team about when communication is expected.
2. Create a Routine: This is especially important for individuals who are used to an office setting and whose mornings would consist of showering, breakfast and commuting. When the commute is off the table, it is just as important to maintain a good morning routine – even if you have the option of more flexible hours. Determine what works best for you to keep you focused and engaged and maintain that routine throughout the week.

3. Declutter: When working at home, you no longer have to account for just your immediate space but the general environment as well. It can be distracting to try and work at the kitchen table when your sink is a mess or the carpet needs vacuuming. Be sure to keep your house as decluttered and tidy as possible to prevent mid-day distractions and to clear your mind to better focus on work-related tasks.

4. Take Breaks: When working in an office, you’ll often be reminded to take your lunch break when the rest of your colleagues are headed out for theirs. At home, it can be a little more difficult to maintain your lunch hour – or take breaks at all! And when we do, often these breaks are little more than scrolling through social media. While taking breaks is vital, a productive break is even more so. Consider reading relevant articles to give you some inspiration, making a home cooked meal or even taking a walk around your block for a more restful break.
5. Upgrade Your Equipment: Whether you’re currently working in an old wooden kitchen chair or lack proper wrist support, a big step towards being more productive at home is upgrading your equipment. If you’re going to be sitting all day, investing in a comfortable, supportive desk chair that won’t leave you feeling achy will make a huge difference! Also, make sure you have enough desk space to be able to work comfortably and include ergonomic support where applicable for an even more comfortable (and productive!) work-at-home experience.

When it comes to saving money, there are a lot of little things you can do that add up to make a big difference! Here are 10 of our favourite money-saving tips:

1. Automatic savings are one of the most effective ways to save because you can’t spend what you can’t access. Instruct your employer to transfer a certain amount from your paycheck each pay period into an FHSA, RRSP, savings account (or both) or set up automatic transfers in your banking account to coincide with your payday.

2. Consolidating debt will result in a single monthly payment and lower interest costs. Many people don’t realize just how much money they are wasting on interest each month, especially if you have multiple loans or credit cards. Consolidating debt can help you gain control and maximize spend on the principal amounts to pay off loans faster.

3. Budget with cash if you have trouble with overspending or find it too easy to use your card. After your bills are paid, take out the remaining cash (spending money) and only use that. Once the cash is gone, you’re out of money until next payday! Having physical cash in hand can also help you think twice when making purchases.

4. Buying in bulk is a great way to save a bit here and a bit there when doing your regular grocery shop or purchasing other items. Know you’ll need more? Stock up at once for bulk savings, which will help you in the long run.

5. Before Buying there are two things you should always do. The first is to wait at least 24 hours and the second is to shop around. If you still want to buy something the next day, make sure you get the best price available.

6. Plan Your Meals. Most of us don’t have time to make breakfast (let alone lunch!) before we fly out the door for work. But what if I told you that getting up an hour earlier could save you over $100 a week!? Just think about how much you spend going out for breakfast AND lunch each day? Groceries are a lot cheaper and you can even prep a few days worth of meals on Sunday while you get ready for the week.

7. Think in Hours versus Dollars every time you are looking to make a purchase, especially large ones to help you understand the TIME value of money. A new $24 Blu-Ray = 1 hour of work. A brand-new mattress = 41.67 hours of work. Understanding the time that went into earning money for a purchase can help as well as reconsidering purchases of frivolous items, or looking for the best deal on necessary products.

8. Utility Savings can help you save each month. Don’t blast your A/C with all the doors in your house open, don’t pump the heat without sealing cracks and consider things like installing water-saving toilets and running cold-water wash cycles to save energy (and money!) every day.

9. Master DIY – While sometimes you can spend $120 to make a $20 item yourself, there are some things that do benefit from DIY, such installing dimmer switches, that can help save you money in the long run.

10. Save Windfalls and Tax Refunds for a rainy day. A good rule of thumb is to put 50% of bonuses, tax refunds or other windfalls into your savings account and put the rest against loans owing. While you might want to go on a shopping spree or plan a vacation, paying off your debt NOW will free you up in the future.

When it comes to furnishing a new home, building from scratch, or simply choosing to redecorate, there are many ways you can go about it. However, one of the first questions a lot of people consider is whether or not to hire an interior designer or do it themselves.

As with anything, there are certain expectations when it comes to hiring a professional in terms of experience and quality versus a DIY project. When it comes to hiring an interior designer, there are a few things to consider when it comes to the scope of the project, budgeting, and managing expectations.

Project Scope

Interior designers don’t just handle full home renovations. In fact, there are many different levels of projects that you can utilize their expertise on such as:

• When moving, a designer can help decide which pieces of furniture to bring from your previous home, along with ideal placements and suggestions on additional pieces to fill out your space and capture your style.
• If you’re considering a mid-level renovation, such as new kitchen countertops, an interior designer can offer insights depending on your lifestyle (such as why a quartz-lookalike countertop might work better than unsealed marble).
• When it comes to major renovations, a contractor can of course help you tear down walls and make changes, but an interior designer takes the process one step further by providing unique insights into a space ensuring that both large and small choices come together to form a functional space that suits your style.

Budget

While you might be thinking that an interior designer is just going to be an added cost to your renovation, there are a few things you should consider:

• Designers actually work within your budget and help keep you on track.
• Many designers typically pay or get trade pricing on a lot of their purchases, which is passed onto the client.
• They also have lots of tips and tricks when it comes to finding hidden gems and knowing what is worth the value and what isn’t.
• With their wealth of knowledge, an interior designer can even help you choose where to cut corners (such as not opting for the fancy toilet) and instead help you spend extra money where it has the most impact (such as on a soaker tub).
• In some cases, interior designers will also notice things that can simply prevent expensive mistakes.

Managing Expectations

When it comes to hiring a professional, such as an interior designer, the purpose is to take advantage of their experience, knowledge, and trade secrets. However, there are a few things you can do that can help ensure your project goes off without a hitch:

• Be upfront about the scope and timeline of your project, as well as your expectations.
• If you have a particular style, you want but just aren’t sure how to make it work, let them know so they can advise in advance if the project is up their alley.
• What you are and are not willing to compromise on (if anything).

An interior designer works for YOU. While they often work well if they are given a budget and the space to work their magic, unlike how it seems on home renovation television shows, your interior designer will not do anything without your consent. You will be involved every step of the way.

Keep in mind to embrace the process and be open to the different ideas your interior designer may have to ensure your space is functional, beautiful and fresh!

Home renovation shows have a remarkable ability to inspire, sparking creative ideas for transforming our living spaces. However, amidst the allure of these shows lies a notable caveat – they can be quite deceptive when it comes to the actual process of renovating.

While these shows often tempt us to replicate the dazzling transformations we witness, venturing into a renovation project without a full understanding of the intricacies involved might lead you to tackle a project you’re not quite prepared for. To help you distinguish between reality and the magic of television, we’ve deconstructed the various components that accompany the renovation journey.

Budget & Financing

In the realm of most home renovation shows, financial considerations are often glossed over or completely omitted. In the real world, embarking on a home renovation requires engaging with professionals like mortgage brokers or experts at Dominion Lending Centres to evaluate your financial options.

Financing a renovation can be achieved through several avenues:

1. Mortgage Refinancing: This avenue allows you to borrow up to 80% of your home’s appraised value (after subtracting your existing mortgage balance). It offers immediate access to funds and generally boasts lower interest rates compared to credit cards or personal loans. This option is ideal for substantial renovations or remodels. Aim to refinance at the end of your mortgage term to avoid penalties.

2. Purchase Plus Improvements Mortgage: Perfect if you’re yet to purchase a home, this option lets you include renovation costs in your initial mortgage. It’s tailored for modest upgrades rather than extensive structural changes. These improvements encompass painting, flooring, windows, heating systems, kitchen and bathroom updates, and more. Depending on your mortgage terms, this option can grant you between 10% and 20% of the initial property value for renovations.

3. Financing Improvements Upon Purchase: Similar to the Purchase Plus Improvements approach, this option permits you to finance renovations alongside a new home purchase, utilizing CMHC Mortgage Loan Insurance. It’s feasible to obtain financing with just a 5% down payment for both the property acquisition and subsequent renovations, up to 95% of the post-renovation value.

4. Line of Credit or Home Equity Loans: Alternatively, secured lines of credit or home equity loans can fund your renovation. These loans, backed by your home equity, usually offer up to 80% of the property’s value and are accessible at any time. They generally entail lower interest rates compared to unsecured financing, offering flexibility in accessing funds.

Once you’ve determined your renovation financing, the next step is crafting a budget. Television rarely conveys the accuracy of listed renovation budgets, often concealing additional expenses. In some instances, networks or shows even supplement budgets behind the scenes, unbeknownst to viewers. Thankfully, in reality, you can establish a pragmatic renovation budget through diligent research and obtaining quotes. Collaborating with a seasoned contractor becomes pivotal, ensuring compliance with building codes and preempting any unforeseen costs. Moreover, a professional can guide you in formulating a comprehensive budget and project timeline, guarding against mid-project financial hiccups due to alterations or selecting pricier materials.

Renovation Timeline

Arguably, one of the most far-fetched elements of home renovation shows is the timeline. While television may suggest a swift overhaul of your kitchen in a matter of weeks, the reality often extends beyond those optimistic projections.

Partnering with your contractor to establish a feasible timeline rooted in your project’s scope is crucial, reducing stress and providing a more accurate overview. It’s essential to bear in mind that your readiness for renovation doesn’t necessarily align with a contractor’s availability. Additionally, potential setbacks like material shortages can arise, demanding flexibility when plotting your timeline.

Planning & Design

Television renovations often portray interior designers making unilateral decisions, deviating from actuality. Real-life renovations entail meticulous documentation and pre-planning in collaboration with clients. Furthermore, unlike shows sidestepping certain aspects, real-world renovations necessitate securing building permits and undergoing inspections throughout the process. Though this might be time-intensive, it’s integral to guarantee the legality of your renovation, ensuring insurance coverage in the event of any mishaps.

Embarking on a home renovation diverges significantly from its television depiction. Nonetheless, armed with meticulous planning and the support of adept financing and contracting professionals, your vision can materialize. Take the first step by reaching out to your mortgage expert today.