Home Protection & Improvement
Scott McGillivray’s Blueprint for a Better, Safer Home
Celebrity real estate expert, Scott McGillivray, offers practical advice to help homeowners improve safety, increase value, and make better renovation decisions.
How important is seeking the advice of a professional appraisal ahead of making any home renovation decisions?
In some cases it can be vital. If you're not super knowledgeable in the renovation space, a professional appraisal helps you understand your home's current market value and guides you on renovations that will actually increase that value. It ensures you're investing your money wisely and not over-renovating for your neighborhood and the current state of market.
What’s one simple step homeowners can take to protect their home from severe weather?
One easy but effective step is sealing windows and doors properly. It prevents water intrusion, helps maintain struc-
How a Home Inspection Can Save You from Headaches (Literally)
Buying a home is likely the biggest investment you’ll ever make. Protect it with a home inspection and indoor air quality test.
Ken Donohue
Professional inspection companies, such as Inch by Inch Inspections, give you peace of mind with knowledge about the home or commercial property you’re purchasing. Since inspectors vary in experience, ability, and thoroughness, make sure you engage with a professional inspection company.
Inch by Inch prides itself as a one-stop shop offering a range of services, including home and commercial property inspections, indoor air quality testing, mould inspection and remediation, and asbestos testing and inspections. Inch by Inch adheres to the industry’s largest, most comprehensive standards of practice and abides by the International Association of Certified Home Inspectors, as well as the International Association of Certified Indoor Air Consultants (IAC2). It believes clients should arrive at their own conclusions about a property by being provided with objective results and solutions.
Peace of mind
A home inspection is easy to complete and typically only takes a few hours. Certified inspectors will assess the exterior and interior of your home or building, including electrical, plumbing, roofing, HVAC, and foundation. These inspections can uncover potentially life-threatening problems, such as mould or faulty wiring that can cause serious fires.
Many lenders won’t offer fi nancing on a property without an inspection. But don’t wait for the bank to demand one — a home inspection gives buyers peace of mind by identifying any potential issues before closing. It can also be used as a contingency in your contract with the seller, allowing you to back out if the inspection reveals significant defects that you don’t want to take on.
The inspector provides a detailed written report, which they’ll discuss with you so you’ll know of any safety issues or minor or major defects. This lets you know what work might be needed in the short, medium, and long term.
Breathe easy
The air you breathe inside your home shouldn’t make you sick. An often-overlooked feature of any home is indoor air quality. While your nose can be your preliminary air quality test, most of us don’t have the knowledge and expertise to detect issues of poor air quality. An air fresh-
tural integrity, and improves energy efficiency — all critical during storms.
How can co-ownership help first-time buyers or investors break into competitive real estate markets?
We're seeing this a lot lately, which I find so interesting. Co-ownership allows buyers to pool resources, split costs, and share equity, making it easier to afford a home in hot markets. It’s a smart strategy for first-timers looking to get in the game or investors diversifying risk. Be careful of who you invest with, make smart decisions based on long term business dealings and not who might be your best friend right now. There are opportunities out there, and I would also encourage everyone to look in to passive investing opportunities as well.
ener is not a solution to poor air quality — it simply disguises the problem. An expert is needed to assess and remove the pollutants. Inch by Inch uses stateof-the-art technology to test indoor air quality and provide property owners with a detailed analysis of pollutants and other factors contributing to poor air quality.
Many factors inside and outside the property can create a buildup of pollutants in the air, which can result in short- and long-term health problems. Hiring a professional inspector means these health issues, some of which can be serious, can be alleviated and future air quality issues and health risks prevented.
Some common pollutants that impact air quality in a home include:
• Airborne spores and bacteria from mould
• Allergens created by poor air circulation
• CO2 buildup from improper venting
• Organic chemicals
• Off-gassing from old asbestos installations
Test for mould
The biggest culprit contributing to home air quality issues is mould growth. Mould is an organic fungus that can easily fester and develop in areas of poor air circulation and humidity. Unmanaged, mould can continue to grow and take over walls, fi xtures, wood components, and even carpets, releasing harmful mould spores and bacteria. The two biggest factors contributing to mould growth are blocked airflow and humidity. Restricted airflow doesn’t allow moisture to evaporate, leading to increased humidity in a defined space, including basements, attics, garages, laundry rooms, kitchens, and unfinished parts of a home.
When you think there are issues of poor air quality or a mould problem in your home, trust a professional who can test for and remove mould, asbestos, bacteria, high levels of CO2, and more.
Does something smell off with the air inside your home? Are you purchasing a new home and want peace of mind? Air quality testing is an easy way to ensure you can breathe easy. Your nose can be your preliminary air quality test, but many pollutants inside our homes can only be identified with stateof-the-art technology and the expertise of a professional.
If you experience lingering health issues, such as allergies, breathing issues, nausea, or irregular sleep patterns, it could be the air inside your home.
Poor air circulation inside your home, especially if it was built in the last 10 years, and areas of high humidity can negatively impact indoor air quality.
If
To read the entire interview with Scott visit innovatingcanada.ca
A Smarter Path to Owning a Home in Toronto
If buying a home the traditional way feels out of reach, it’s important to know about alternate options — like co-ownership and co-operatives.
George De La Rosa
If you live in Toronto or the Greater Toronto Area, you understand the dream of homeownership. You also understand the frustration that often comes with it. You work hard and save diligently, but the cost of a traditional home keeps rising, feeling like a moving target. For many, the path laid out by our parents — get a job, save a down payment, buy a house — no longer feels viable.
This situation leaves many feeling stuck, forced to continue renting while watching the market from the sidelines. But what if the problem isn’t that you can’t afford a home? What if the problem is that you’ve only been shown one increasingly difficult way to buy one?
At Luminus Financial, we’re here to serve as a guide for those seeking a different path. We believe that with the right knowledge, a new way home isn’t only possible, but practical. This begins with understanding two powerful, collaborative homeownership models that are changing lives in communities across Canada.
First, let’s talk about co-ownership housing
Think of co-ownership as creating a small, private partnership to achieve a shared goal. Instead of one person or couple trying to qualify for a massive mortgage, multiple individuals come together to purchase a property, with each person owning a percentage.
This is an ideal structure for friends, family members, or even like-minded individuals who want to enter the housing market together. The benefits are immediate and clear: the burden of the down payment is shared and ongoing expenses like property taxes and maintenance are divided, making homeownership significantly more accessible and less of a financial strain. It’s a flexible and powerful tool for combining resources to build equity in a home that you can all enjoy.
Second, let’s demystify co-operative housing
This model is a bit different, but just as powerful. Imagine a community where the residents are also the owners of the entire property together. In a co-operative, instead of buying a specific unit, you purchase shares in the corporation that owns the building. That purchase grants you the exclusive right to live in your specific home.
The result is a unique form of ownership with deep community roots. Decisions about the property are made democratically by the residents, fostering a true sense of shared responsibility and connection. By pooling resources, members often enjoy more stable and lower monthly housing costs compared to traditional renting or owning. This model empowers people to live more sustainably while building lasting relationships with their neighbours.
Your path forward starts with a plan
Your free guide: “The Ontario Homeownership Blueprint”
Inside this free guide, you’ll discover:
• A detailed comparison between co-ownership and co-operative housing Key questions to ask when considering a partnership purchase
How to understand the financial and legal structures of each model
A checklist to help you decide which path may be right for you
Specialized financing for a unique path
For many, the path laid out by our parents — get a job, save a down payment, buy a house — no longer feels viable.
Both co-ownership and co-operative housing offer what the traditional path often can’t: an affordable entry into homeownership, strong community ties, and shared responsibilities that lighten the load for everyone involved.
To help you navigate these options, we’ve created a comprehensive, easy-to-understand resource that expands on everything we’ve discussed here. This is not a sales brochure, but an educational guide to empower your decision-making.
Once you’ve explored these options, the next question is often about where to get such a mortgage. Securing a mortgage for a co-operative or a multi-party co-ownership agreement can be a significant hurdle, as many traditional lenders aren’t equipped for these unique situations and agreements. This is where Luminus Financial stands apart. We’re one of the few financial institutions in Ontario with dedicated specialists in both co-operative and co-ownership mortgages.
Our team understands the legal and financial nuances of these agreements and can provide the expert financial partnership you need to turn your plan into a reality. We don’t just provide information — we provide the means to act on it.
Your journey to owning a home doesn’t have to be a struggle. Take the first step toward a new way home by downloading our free guide.
George De La Rosa CEO, Luminus
Renovating or Refinancing? Why You Need a Professional Appraiser
In an uncertain housing market, professional appraisals protect homeowners from risk — whether renovating, refinancing, or preparing for extreme weather.
Donna Dewar, MBA, PMP, Chief Executive Officer, Appraisal Institute of Canada
In uncertain economic times, protecting your home means understanding the true value of your property and the risks that could impact it. Whether you’re renovating, refinancing, or simply planning ahead, knowing your home’s value is a critical foundation for financial security and peace of mind.
That’s where the Appraisal Institute of Canada (AIC) and its Professional Appraisers (P. App.) play a vital role.
With higher interest rates, varying market fluctuations, rising insurance premiums, and growing climate-related risks, Canadians need reliable information to make sound real estate decisions. An AIC-designated appraiser provides independent, expert opinions on a property’s market value — before or after a renovation, prior to buying or selling, or when accessing equity.
Financial literacy begins with knowing what your home is really worth Appraisers don’t sell properties, represent buyers, or make lending decisions. They protect. By providing a clear view of a home’s value, appraisers help consum-
ers avoid overpaying, overborrowing, or under-preparing. With no vested interest in the outcome of a transaction, they deliver professional and independent analysis that protects homeowners, lenders, and insurers. Their independent valuations help prevent fraud, reduce risk, and support informed, evidence-based decisions rather than speculation or financial incentives.
Understanding how property valuation works is a key part of financial literacy — and financial literacy protects your home, your investment, and your future. Yet today, accurate valuations are at risk. Appraisals are increasingly being replaced by automated valuation models (AVMs) that prioritize speed and cost over accuracy and often miss key details, such as the quality of recent upgrades, deferred maintenance, real-time market trends, and the nuances of a specific neighbourhood. A full, in-person professional appraisal can mean the difference between a sound investment and a costly mistake.
Homeowners have the right to ask questions, seek their own appraisal when appropriate, and ensure that they fully understand the implications of their property’s value
— especially in a volatile market. AIC-designated appraisers can help, bringing expert insight where algorithms often fall short.
Not just renovation questions — these are property value questions
As climate change increases the frequency of extreme weather, appraisers are playing a growing role in climate risk awareness. Is your home in a floodplain? Does it have an aging roof or poor insulation? Is a future buyer likely to view that basement as a bonus — or a liability? These aren’t just renovation questions — they’re property value questions.
In a housing market marked by volatility and complexity, the best protection is knowledge.
Whether you’re planning renovations, assessing climate risk, navigating an insurance claim, refinancing your mortgage, or simply seeking clarity and confidence in your next real estate decision, working with a Professional Appraiser (P. App.) is a smart first step.
In a fast-changing housing landscape, the knowledge and protection that come from a comprehensive, professional appraisal are more important than ever.
Donna Dewar, MBA, PMP Chief Executive Officer, Appraisal Institute of Canada