Ask David

Electric Heat, Stuck in a Commercial Lease

Dear David, I have a townhouse with electric heat. I plan on selling it in five years. I’ve received a quote of $12,000 to install gas heat and air conditioning. In your opinion, would this be a worthwhile investment? – ZAPPED DEAR ZAPPED: The quick answer is yes. Switching to gas will obviously lower your

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Commercial rent, Home not selling, Lost bidding war

Dear David, We have a 5-unit commercial building and are thinking of selling in the next 6 months. We currently have a vacancy. Should we reduce the rent by $500/month to get it filled right away, or hold out for the same rent we’re getting from the other units? – CONTEMPLATING DEAR CONTEMPLATING: It’s tempting

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Stack of coins on a dark wooden table
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Saving downpayment, Commercial property shopping, Downsizing

Dear David,  We are saving for the downpayment on our first home. We have 5% saved so far. Should we put off buying until we have a 10% down, to reduce our CMHC fees? – EVERY PENNY COUNTS DEAR EVERY PENNY: Once you have your 5% downpayment saved, I advise you to get into the market

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Foundation Crack, Tree Damage, Commercial Space

Dear David, We’re thinking about selling our back split. My husband noticed a crack in the foundation by the basement window. Should we be concerned? – CRACKED DEAR CRACKED: It sounds like a typical “step crack”, which is somewhat common in this style of home. Foundation cracks are quite common in general, as concrete tends

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Ask David

Mold, Sold Listing, Commercial Building

Dear David, Our Inspector found some patches of black in the attic. What now? – CONCERNED DEAR CONCERNED: This type of thing is not uncommon. It tends to go undetected in attics, as people don’t spend much time there, but quite often comes up on home inspections. To establish if a suspicious microbial growth is

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Row of town houses
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House Closing, Business Renting, Townhouse

Dear David, Our friends just heard that the buyer of their home may not be able to close next week. Our home sale is closing in 60 days and we’re worried that the same thing might happen to us. –Losing Sleep DEAR SLEEP: First of all, I urge you not to let worry get the

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