Nov. 14, 2016 "How to haggle everything but the hydro bill": Today I found this article by Aleksnadra Sagan in the Globe and Mail:
Pete Breese remembers seeing a leather jacket he wanted to buy – but not pay full price for – in a store when he was a teenager, so he asked for a discount and walked away with his new purchase shortly after.
“Ever since then, I realized that you can haggle just about anywhere,” he said – and he’s continued to do it “all the time.”
It may seem like haggling is confined to car dealerships, Kijiji sales and travels abroad, but that doesn’t have to be the case. Few prices are non-negotiable, say seasoned hagglers, and people shouldn’t fear asking for a discount almost anywhere so long as they follow the proper bargaining etiquette.
“There’s always room,” says Mohammed Halabi, director and founder of MyBillsAreHigh.com, which negotiates down the cost of individual and business phone, Internet and TV plans.
The only exceptions, he quips, are gas and hydro bills. All other companies – like furniture retailers, hotels or electronics dealers – are fair game, he said.
“There’s room for those places to, you know, either sweeten up the deal or get a reduction in cost,” Mr. Halabi said. Instead of a price cut, consumers could ask a hotel for a free upgrade or petition a telecom provider to add in more data without an extra fee.
To secure any deal though, a customer must first ask and there are some ways to help ensure that goes smoothly.
The best way for someone browsing to start a negotiation is to mention how much they love an item, said Mr. Breese, who now owns Eclectic Revival, a vintage and custom lighting store in Toronto where it’s acceptable to bargain rather than just pay what’s scrawled on the price tags.
“When I see somebody being enthusiastic about a piece [it] is definitely going to soften my heart,” he said.
A polite demeanour is also a must. Recently, Mr. Breese stopped engaging with a man who repeatedly demanded he sell an item for $100 less than its price after Mr. Breese had already said the most he was willing to drop it by was $75.
On the flip side, trying to bring down the price by pointing out flaws on an antique is likely to backfire, he said, because it could offend the seller, who is likely aware of any nicks already.
It’s also important to be knowledgeable, said Mr. Halabi, who believes his years of experience selling services on behalf of telecom providers give him an edge in securing the best deal.
If shoppers don’t see any success from speaking to a salesperson, Mr. Halabi suggests escalating the matter by requesting to speak to a manager, who may have more leeway.
Customers must also be reasonable about what they’re asking for.
“Rule of thumb is ... try not to cut somebody in half,” said Mr. Breese, adding it’s acceptable to start by asking for a 20-per-cent to 30-per-cent discount.
But not everyone wants to start a negotiation, and anxiety around haggling is common. A recent survey commissioned by AutoTrader.ca found nearly one out of five respondents said they were holding off from purchasing a vehicle because they feared negotiating over price.
Mr. Breese said there’s little reason to feel nervous about haggling – a conversation that typically takes only a few minutes in his shop.
“The worst thing they can say is no.”
My opinion: I don't really haggle. I go to a store and it's already 50% off or on sale, then I buy it. I buy what I want like chips and cookies on sale at Shoppers Drug Mart. I don't really buy anything to own. I usually buy things to use like a bus pass and to consume like food.
"Potential homeowners should weigh pros, cons when buying a preconstruction condo": Today I found this article by Brenda Bouw in the Globe and Mail:
Liz Chan had a checklist when she went looking to buy her first condo: It had to be in an up-and-coming neighbourhood, include parking and be in a newer building to cut down on the potential for costly repairs.
Instead of scouring real estate listings to find the right match, and because she was living with her parents and in no rush to move out, Ms. Chan opted to buy a 500-square-foot pre-construction condo in Vancouver’s trendy Olympic Village neighbourhood.
Buying from a floor plan allowed her to choose what unit she wanted in her price range, as well as a few finishes inside the suite, such as wood flooring.
But there were also some downsides to the pre-construction purchase she made in 2012.
“It caused a lot of anxiety for me,” Ms. Chan, 29, recalls.
First, she couldn’t see exactly what she was buying. The model suite was about 150 square feet larger than what she purchased off the floor plan and a different layout.
“I had to imagine what it would be like,” says Ms. Chan, who was also used to living with her parents in a 1,500-square-foot home in east Vancouver.
After she bought her condo, Ms. Chan discovered that the 10-storey building across the street would actually be 15 storeys, and block her 12th-floor view.
Her move-in date was also delayed from April, 2014, to August, 2014.
“Whatever they tell you [about the move-in date], don’t have your heart set on it,” Ms. Chan says.
Ms. Chan’s positive and negative experiences with pre-construction condo buying are quite common. Experts recommend that buyers weigh the pros and cons before buying from a floor plan, and understand some of the risks.
For example, some buyers can be caught off guard by the occupancy fees that may have to be paid to the developer to cover the period between the time you move into your unit and take ownership, which happens when the building is officially registered. The time frame can last months, or more than a year depending on delays.
“No developer delays on purpose,” says Toronto area real estate broker and developer Brad Lamb.
He says developers want the building to get registered as soon as possible “so we can pay off our gigantic bank loans and take our profits out, if there are any, and move on to the next project.”
Mr. Lamb said some pre-construction buyers also get upset when they see deficiencies, such as paint marks, an electrical outlet that doesn’t work or a missing cabinet door, that aren’t fixed right away.
There are financial penalties if developers don’t fix the problems, “which we don’t want to pay,” Mr. Lamb says. But he says repairs can take weeks or months – depending on how many units are in the building.
“It’s a misunderstanding of what they’re getting when they buy,” he says. “They think it’s going to be pristine when they move in. There will be some mistakes that need to repaired.”
Mr. Lamb recommends that buyers use a lawyer experienced in condo law to help them understand the purchase and contract they’re signing, which should help cut down on any surprises.
Christopher Bibby, a real estate agent with Toronto-based ReMax Hallmark Realty Ltd., also recommends that consumers do their homework on the developer before they buy a presale condo.
“You can walk into a sales centre and obviously it will be very nice and a positive experience, but if the builder has a track record, go see some of their finished product … and get a sense of whether it works for you or not,” he says.
When in the showroom, Mr. Bibby says, buyers should also ask about what appliances and finishes are standard with the unit, since what you see on display is not always what you get.
Layouts can also change after you buy, he warns. He had a client who bought a unit with a bedroom window, but then lost it after the building design had to be changed.
Projected condo fees are usually lower than the amount when you eventually move in, Mr. Bibby says. “Maintenance fees will always go up,” he says.
Ms. Chan says her condo fees have increased by $50 to $240 since she moved into her Vancouver condo two years ago.
She also had to cough up funds for two special levies, something she had hoped to avoid with a new building. The first was $200 for lighting upgrades to increase security in and around the building and the second was $300 for a plumbing issue that she says wasn’t covered by warranty or insurance.
Still, Ms. Chan doesn’t regret buying pre-construction. “I love my place,” she says, and she is crossing her fingers that its value won’t dip amid new measures put in place to cool the city’s hot housing market.
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My opinion: I wouldn't buy a condo or anything before it's built. What if the construction company closes down during construction? Do you get your money back? Or will the money have went into the material and labor?
Apr. 17, 2021:
In 2006, I read the book Rich Dad Poor Dad by Robert Kiyosaki:
Poor Dad: Money is the root of all evil.
Rich Dad: The lack of money is the root of all evil.
I always side with Rich Dad.
I have written before about that young black woman who went on the Tyra Banks show in 2007 or 2008.
Woman: I became a stripper to pay for my college tuition and living costs.
Tyra: Where did you tell your mom and grandma you were working at?
Woman: I told them I worked at the public library.
The audience laughs.
Woman: Yeah, well I really like to read and write so the job seems to be a good fit for me.
This week's theme is about personal finance:
"How one 31-year-old paid off $220,000 in student loans in 3 years"/ "Free college, anyone?"
"Weathering the storm"/ "Tax-loss selling"
My week:
Apr. 21, 2021 "Armed robbery caught on camera": I found this on CTV news. 2 robbers came in and robbed a pharmacy at around 11am. I was surprised that they were robbed "in broad daylight and police are everywhere." I thought robberies mostly happened in the evenings.
The Simpsons: Do you remember the episode where Homer and Mr. Burn's son Larry (Rodney Dangerfield) fakes Larry's kidnapping? This is at 4 min 23 sec:
Marge: I want you to take Larry to Mr. Burns right now before you get into a lot of trouble.
Homer: What? But Marge, it's broad daylight and there are cops everywhere.
Kent Brockman on TV: Appearing in broad daylight with police everywhere, ladies and gentlemen, there is only 1 word for that: idiocy.
"Hudson's Bay Launches Beauty Recycling program": I don't wear makeup, but I like recycling.
Kate Houston's "How to Heal a Broken Heart: Be courageous, Bounce Back, and Find Extraordinary Love": This is free online event that I've been listening to and taking notes. (I take notes on a lot of things like TV shows that I'm watching).
If you go on my Facebook page, I have been posting each interview I listen to. They're up for 48 hrs. After the event is over, the replay page of all the interviews is on for like 48 hrs.
Dr. Gary Salyer is a transformational relationship mentor. For the last decade, Dr. Salyer has been in private practice offering singles and couples heart-centered transformation so they can re-write the rules for love in their brains and create a love that lasts. Dr. Gary speaks to a national audience as a featured expert on various celebrity TV and radio shows such as Hay House Radio and Coast to Coast AM. He is the author of the ground-breaking book, Safe to Love Again: How to Release the Pain of Past Relationships and Create the Love You Deserve. For more information, go to www.garysalyer.com.
Do you feel like you second guess your choices with men now? Do you spend too much time in a head spin of whether that seemingly great guy is actually one of the good ones? Are you feeling unsure whether your heart has healed enough to get back out there?
You are not alone. Lisa Copeland, Love Coach and Dating Expert, has been there too. Don’t want to miss our interview today where she reveals how to dip our toes back into dating but this time with these specific tips and tools to support us in reconnecting with ourselves and trusting our picker now.
Lisa shares that we can know if we are ready to date or not by getting honest about where we are with this one feeling. Don’t miss our interview to find out which emotion to watch for in you before you start dating again.
Lisa Copeland is a leading internationally recognized Love Coach and Dating Expert for women over 50. She inspires and teaches women how to feel confident, empowered and joyful dating after 50.
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