(NC) This summer, see the world from the comfort of home with globally inspired design. From the Greek Islands to the Santa Fe desert, Sharon Grech, Benjamin Moore colour marketing expert, shares her advice to bring the aesthetic of some of the world’s most exciting destinations into your home – no travel required.

Santorini: Create a calm and refreshing space with a palette of timeless Grecian blues, whites and greys. These serene Mediterranean shades have classic appeal that will never go out of style. Looking to refresh your kitchen? “Make your light-coloured countertops pop by painting your lower cabinetry a vibrant shade of blue, like Lazy Sunday 830,” says Grech.

Boston: If your style is a mix of classic and contemporary, take inspiration from the heritage hues and aesthetic of Boston. You can easily bring the feel of this east-coast city by adding warm toned plants and greens to your home. “Perennials such as coral bells and sedums are easy to care for and will add beautiful pops of warm colour to your front or backyard.”

Cape Town: Bring the vibrant and bold colour palette of Cape Town to your home by adding accents of pink and orange. Bathrooms and powder rooms are ideal spaces to experiment with bolder colours – painting a wall or vanity in a bright shade will create an uplifting space that energizes and rejuvenates. “Since bathrooms can be the most susceptible to water and steam damage, be sure to use a product such as Benjamin Moore Aura Bath and Spa, which provides a luxurious matte finish designed for high-humidity environments.”

Sante Fe: Add warmth and comfort to your living room or home office with an earthy colour palette inspired by the desert landscapes of Sante Fe. Shades of gold, muted oranges and accents of turquoise create an eclectic and collected feel that complements styles ranging from classic to minimal.

(NC) COVID-19 has brought changes to everything, and home design is no exception. Experts are expecting to see lasting impacts on everything from the materials we use to the rooms we prioritize. Check out these and other noteworthy trends:

Houses over apartments. Many people who live in condos or apartments do so to be closer to the action – work, entertainment and shops – and never planned on spending much time at home. But the pandemic has changed that, and more people are going to want a home that offers plenty of room and outdoor space in case they need to self-isolate again.

Self-sufficiency: A hard lesson we’ve learned is that things and services we thought we could count on aren’t necessarily a sure thing, so items that increase self-reliance will become very popular. Expect to see more homes with sources of energy like solar panels, sources of heat like fireplaces and stoves and even urban and indoor gardens that allow you to grow your own produce.

Outdoor living. Between playgrounds closing and parks becoming overcrowded, many of us are turning to our balconies, patios and backyards for fresh air and nature. This means we’re going to be investing more in our outdoor spaces, with functional kitchens, soothing water features, cozy firepits and high-quality outdoor furniture to create a much-needed escape.

Healthier spaces. Thanks to spending more time indoors and reprioritizing our health, we’ll turn to design to help ensure our homes are safe and healthy for our families. We’ll see a rise in products like water filtration systems as well as materials that improve indoor air quality. For new homes and additions, alternatives to wood-framing like insulated concrete forms from Nudura, which offer improved ventilation for healthier indoor air quality and an environment that’s less susceptible to mould, will be key.

Home office space. Business experts are suggesting many companies will see that working from home is not only possible but offers tangible benefits, like saving money on office space rent. With working from home on the rise, creating a home office space that inspires productivity will be a major project many of us tackle. Luxury home office furniture that feels chic and blends into your décor as well as ergonomic chairs and desks will see a major boost.

Custom and quality. With the hit to the economy, people are going to be buying less, but what they do buy will be better quality, while at the same time making an effort to support Canadian businesses. When it comes to design, trends will shift to locally made furniture, custom-built homes and pieces and materials that stand the test of time.

Find more information at nudura.com.

(NC) An estimated three million Canadians have one, and they have emerged as the single largest contributor to the growth of household debt in Canada.

Yet many consumers do not appear to fully understand how they work.

No, we’re not talking about credit cards or car loans. We’re talking about home equity lines of credit or HELOCs.

According to a 2019 survey by the Financial Consumer Agency of Canada, many people appear to lack awareness of the terms and conditions of this widely sold financial product, exposing them to the risk of over-borrowing, carrying debt for extended periods and uninformed decision-making.

HELOCs are a secured form of revolving credit. The lender uses your home as a guarantee that you'll pay back the money you borrow. And, as you pay your HELOC down, you can borrow it again, up to a maximum credit limit.

Most major financial institutions offer them with a mortgage as a combined product, which is sometimes called a readvanceable mortgage. Many use them for renovations, debt consolidation, vehicle purchases and day-to-day expenses.

When used responsibly, HELOCs can benefit consumers through low interest rates, convenient access to funds and flexible repayment terms.

Unfortunately, the convenient features of HELOCs can encourage consumers to add too much to their debt load.

In fact, 27 per cent of those who responded to FCAC’s survey said they make mainly interest-only payments on their HELOCs. Considering that, on average, Canadians owe about $65,000 on their HELOCs, this means many homeowners end up carrying debt for long periods.

So, if you have a home equity line of credit or are considering getting one, you need to ask yourself:

• Would a HELOC tempt you to use your home like an ATM?
• Could you still afford HELOC payments if you lose your job or interest rates go up?
• Are you prepared to stick to a plan to pay it off fully, and avoid continually borrowing against your home equity?

Those are just some of the questions to consider before borrowing money that will be secured by your home equity.

Identity theft has been on the rise so I thought I would share some information to protect yourself from identity theft.

How to Spot Identity Theft

1. Review your credit report regularly to spot suspicious account openings.
2. Check banking transactions regularly. Report anything strange immediately.
3. Recognize, and look into it, if youre not getting important pieces of mail (i.e. bills, bank statements).
4. You are receiving calls from debt collectors about debts that aren't yours.
5. You get a notice that your information was compromised at a place you do business with or have an account. 

How to Protect Yourself

1. HTTPS. Purchasing or putting your information into a website that does not have the prefix HTTPS means it is not secure. Watch out for sites that only have HTTP.
2. Secure your mail. Do not leave any trace of information on credit card statements, utility bills, and the like. This is a strategy lots of thieves use to gather information from you. Shred anything that has your name and address on it.
3. Read your credit card statements thoroughly and often.
4. DO NOT EVER give personal information such as your SIN, DOB, and banking information away without 100% knowing who you are talking to - even if they are threatening you with legal action or imprisonment. 

Here is a true story:

I recently had some clients who had their house up for sale and received an offer. They were so excited and went off to put an offer on the home of their dreams. When it came time to get their mortgage financing in place, the mortgage insurers declined the client. We couldn't understand why as they had solid employment, great credit, no debt and their own funds for the down payment from the sale of their home.

After digging a little more, we pulled their Trans Union credit bureau, which is what the insurers pulled and saw that a credit card with a limit and balance for $22,000 was outstanding for 4 months and was heading to collections. When this was discussed with the clients, they noted it was not theirs. So, I directed them to reach out to Equifax and Trans Union and do a fraud inquiry. Here is what was found out:

The credit card had been open for 14 years ago, each time, drawn down and paid in full. When this typically happens, the lender keeps increasing the limit until it reached $22,000. At this time, they had taken a cash advance for 22k and walked. The mailing address of the cardholder was Montreal Quebec. The client had never lived there. They thought this would be cleared up quickly but to their surprise, it could take up to 6 weeks so no lenders would proceed with their purchase. They had to walk away from the offer on their dream home as they couldn't get new financing till the fraud was cleared up and they also had to walk away from the sale of their home as they would be homeless.

This is just a prime example of starting your preapproval process early so that any surprises can be detected early on.