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"Real Estate Bits - 2"

June 2006

Money Matters

Presented By: Nino Pasquariello - Manager - Scotiabank

(416) 932-3885 Ext. #7000

E-Mail: nino.pasquariello@scotiabank.com

Getting The Most From Your Travel Dollar:

Nothing beats getting away, whether you're into some fun in the sun, adventure travel, or family road trips. And if you nail down the financial aspects of travel before departing, your vacation will be that much more enjoyable.

Managing Money While Abroad

A combination of traveller's cheques, credit and debit cards, and local currency is the best way to handle your financial expenses when travelling.

Before you leave home, it's a good idea to get some local currency to pay for cab fares, phone calls, tips, and other smaller items. If you are heading to a lesser-known destination, call your local bank branch ahead of time to ensure they'll have the particular currency on hand.

Here Are Some Other Tips For Managing Your Money

U.S. Dollars - Depending on where you travel, Canadian dollars are probably not as widely accepted as U.S. dollars. It's never a bad idea to carry some U.S. dollars (singles are a welcome tip in lesser developed nations)

Credit Cards - Credit cards are also a convenient way to pay for expenses and defer payment.

Some credit cards come with added travel benefits such as insurance (medical; trip cancellation; lost luggage; rental car collision) and accommodation and rental car discounts. Check with your credit card issuer to see if your card entitles you to some of these benefits.

Bank/Debit Cards - Increasingly, the fastest and most convenient way to access funds is to withdraw local currency from your Canadian bank account. Most debit cards are accepted widely in the U.S. and Europe; however, you may have to pay a service charge for the convenience of using your bank card while abroad.

Tip: Check with your bank to see if they have affiliations or partnerships with banks in other countries. Using your bank card in an affiliate branch can save you money on service fees.

Protecting You & Your Family With Travel Insurance

For peace of mind, travel insurance is one of the best investments you can make. The most important type of insurance is health care — we've all heard horror stories about the high cost of a hospital stay or medical treatments in the U.S.

There are many types of coverage available, covering all aspects of travel. These include trip cancellation, lost luggage, theft protection, and rental car insurance. Often, these are bundled together, along with health insurance, into comprehensive packages. Here are some things to consider when deciding on your coverage. ·

• Look into your existing insurance coverage. If you have an employer-sponsored benefits plan that includes out-of-country health coverage, check its limitations. Supplementary coverage may be necessary. In any case, don't forget to bring the necessary documentation — including your benefit card and a copy of the policy.

• Your credit card may also provide some travel-related insurance. Check with the card company for specifics.

• Caveat for adventure travelers - If your idea of vacationing involves rock climbing, white water rafting, or other risky pursuits, you may need to supplement your medical coverage, as your work-sponsored insurance may not cover these activities. Read the fine print carefully.

Staying On Top Of Your Money When Away From Home

If you plan to be out of the country for an extended period of time, be sure that your finances will be taken care of.

Expenses - Pay your bills - hydro, phone, cable, and credit card before you go. A convenient way to look after these expenses is to set up direct bill payments from your bank account. If you have access to the Internet from your vacation spot, you can use online banking to take care of bills. Better yet, set up your online account to pay bills automatically on specific dates while you are away.

Investments - Will any of your fixed-term investments, such as Guaranteed Investment Certificates (GICs), mature while you're away? If so, consider dealing with maturing investments before you depart by setting up a meeting with your financial advisor. If you are an active investor with access to the Internet, you can easily monitor your investment portfolio online while abroad.

Leaving Your Home Secure

It's also important to ensure that your home remains secure while you and your family are away. These steps will help:

• Cancel delivery of your newspaper for the period you will be away.

• Be sure to store valuables out of sight.

• Set timers on lights.

• Don't change your home voice-mail to say that you will be away.

• If you have a home security system, ask a friend or neighbour to act as a contact person with the security company.

Regards,

"Tricks Of The Trade"

"Making Decisions"

You feel that you’re ready to buy or sell – then all of a sudden you feel indecisive. What has happened?

Many people go through this when they’re about to make a move – it’s a big step!
If you’re a first time buyer you may be afraid of the commitment and view it as a huge responsibility. You may think of a mortgage as a debt rather than as a chance to build equity in a valuable asset. You forget that a rent cheque is an on-going debt.
If you’re a move-up buyer or an empty-nester then expect this major life change to cause a degree of hesitation and some emotional upheaval.

Remember

• Think about how you usually make a decision in your life.

• Are you a fast, easy decision maker?

• Do you seek outside opinions from family, friends, business associates and total strangers?

• Do you tend to over-analyse?

• Do you ever regret decisions you make?

• Does fear prevent you from making a decision?

• Do you then regret a lost opportunity?

• Even if you make decisions easily and well - you may experience a "poor spell" when it comes to a real estate decision. It may be the most serious financial commitment that you will ever make.

• If you’re having trouble - take a blank sheet of paper and draw a line down the middle and label it - Pros & Cons and fill it out. Review the results. Does it make sense?

• What do your instincts tell you?

• Be Aware - when you refuse to make a decision out of fear - that is a decision.

• If owning real estate is one of your goals, or making a move is in your best interests – then accept the fact that a certain amount of stress and/or indecision is natural.

Instead of engaging in non-stop worrying, remember your initial real estate goal, focus on the positive, take a deep breath & move forward. It's also a good idea to look for your Deed, and your Survey, if you have one available from when you purchased your current home. Most Buyers also appreciate current utility costs.

Regards,,

Rosemary ...

Okay, Okay - Here's "The Joke"

A man hobbled slowly in to a doctor’s waiting room – bent over almost double and grasping a cane in a bandaged hand.

Another patient looked on sympathetically and asked, “Do you have arthritis with complications?”

“No” replied the man, “I’m suffering from do-it-yourself with cinderblocks”.

Guest Columnistist

"A Guest Columnist Will Return"

Ask An Expert?

 These are just some of the professionals who can help you with your home ownership concerns. If you subsequently choose to establish a business relationship with any person/company then you should be sure to define the specific details of the relationship or business contract before you proceed.

• Ask A Lawyer?
• Ask A Painter?
• Ask A Surveyor?
• Ask A Designer?
• Ask An Accountant?
• Ask A Tradesperson?
• Ask A Home Inspector?
• Ask A Financial Adviser?
• Ask A Colour Specialist?
• Ask An Insurance Broker?
• Ask An Interior Decorator?
• Ask A Web-Site Designer?
• Ask A Kitchenware Retailer?
• Ask A Landscape Designer?
• Ask An Employment Lawyer?
• Ask A Banker/Mortgage Broker?
• Ask A Garden Sculpture Specialist?
• Ask A Basement Waterproofing Specialist?

Business Referrals: 

Client & Networking referrals are the foundation of a successful real estate agent’s career.  Over many years in this industry I have enjoyed the confidence & repeat business of my clients.  I appreciate your on-going support and want you to know that I will always look after friends & colleagues you refer to me with professionalism, care and respect.

Please Call Me With Any Real Estate Questions.
I'm Always Here To Help!

Rosemary Wright



Bus: (416) 483-8000 Fax: (416) 463-01599

Web-Site: www.rosemarywright.com

E-mail: mail@rosemarywright.com

Direct Page: (416) 582-1216