Recently, condo developers have been looking for alternative heating and cooling methods to meet the desires of eco-friendly buyers. Thus, geothermal power systems are being used more widely now in condo development. This “green” alternative energy system is highly popular with buyers who have a concern about the environment.
In many condo developments, the units are heated and cooled by water that is traditionally drawn from wells that are drilled hundreds of feet down into the group, gaining access to the Earth’s renewable heat.
Many condos are located on the coasts, where hurricane activity is often rampant in certain seasons of the year. This may lead condo owners to have many questions after a hurricane does damage to their condo building. Here are a few of the most commonly asked questions condo owners have after a hurricane hits their area.
Who is responsible for paying for hurricane damage to condos?The insurance your condo association has should cover all repair or replacement costs associated with the common areas of the building. Insurance plans are often purchased with maintenance fees paid by the condo unit owners each year. This type of insurance should cover roofing, exterior walls, balconies, elevators, hallways, parking lots, pools, laundry facilities, fitness facilities and any recreational facilities.
While a lot of cities across America are becoming “smoke free”, most often this only pertains to public spaces. Thus, a condo building resident almost always has the right to choose whether they smoke in their own condo unit or not. Of course, this can be extremely aggravating for their neighbors who may experience smoke smells in their own unit, even if they’re non-smokers themselves.
Many times, non-smoking residents go to their condo board association in an attempt to force the resident to quit smoking in their home. However, this is rarely successful. In some states, there are specific guidelines and laws about smoking being prohibited in hallways and stairwells of condo buildings, but trying to get a restriction on what someone does in their own home is nearly impossible. In addition, even if a restriction was passed it would be a giant challenge to prove a resident was indeed smoking in their home.
Investing and living in an eco-friendly condo unit is a great choice to make, both financially and on a personal health level.
Condo industry veterans are quick to agree, an eco-friendly condo will draw a higher return upon resell than a traditional condo and will attract a new and trendy group of buyers who are looking for specific details many other condos won’t be able to offer them. Some of the newest features in eco-friendly condo spaces are the exact details these buyers are on the hunt for.
Finally deciding to renovate your condo can be a really exciting time! When a condo is in major need of upgrades, chances are you can’t wait to get started. However, it can be extremely stressful to engage in a condo renovation and there are several steps you need to take before you even begin. Many condo buildings have special rules and regulations regarding renovations and learning about these is the very first step to have a successful condo remodel.
Sure, you own the interior spaces of your condo unit. But, it’s important to realize the roof, plumping and any joint areas are actually owned by the collective condo residential group. So, there may be things you can and can’t do in terms of remodelling.
There are millions of condo owners who already do the basics when it comes to cutting back on their energy use, such as turning off lights when they’re not in use and unplugging unused appliances. However, there are many more small condo upgrades homeowners can do to save even more on energy bills.
A homeowner who insulates any attic areas, seals their windows or installs high-efficiency windows might spend from $1,000 to $3,000 on improvements. However, they can then turn around and save hundreds each month on decreased energy costs.
The trick is to start with the most obvious improvements first and do it yourself. Unless you’re installing something tricky, you can do most of the energy efficient improvements yourself. Even with the apparent rewards, both in energy savings and in comfort, many homeowners remain reluctant to embrace energy efficiency on their own.
If you're thinking about renovating your home this year, the provincial and federal governments are prepared to throw some incentives your way.
Planning on landscaping the yard, renovating the bathroom or installing new hardwood floors? For these and many other home improvements, The Home Renovation Tax Credit (HRTC) will provide a one-year, 15 per cent tax credit.
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