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And here is a great design to consider: the winner of 2010 Australian Home Of The Year Award. This is the top award of the HIA-CSR Australian Housing Awards that Victoria’s Atkinson.Pontifex won on May 21st.

The home is built on an elevated seaside location with stunning 270-degree views of Port Phillip Bay. Oh my, could I ever get used to that!

Have a closer look at the interior:

The awesome kitchen:

The beautiful bathroom:

The judges said: “This house ticked all the boxes with a wonderful relationship to the outdoors, use of views, fits into the street-scape and neighbouring properties, together with excellent internal zoning and storage.

The home employs multiple sustainability measures including a thermal chimney; geo-thermal bore to heat the home and pool; a 20,000 litre water tank; Low E glass and sun controlled louvres. These features make this relatively large home highly efficient.”

Photos courtesy of Atkinson.Pontifex, Victoria. Thanks for the inspiration!

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The dangers of Formaldehyde

Here Nelson Larrosa from The Demand Group explains why Formaldehyde - a toxic chemical - is especially dangerous: “FORMALDEHYDE is the next dirty word that should be on everyone’s lips and if you care anything about your health, your families health and our environment, you’ll say NO to this chemical!

What does that actually mean? In Australia, there are lots of products that will contain formaldehyde in very minute quantities. Our standards only allow for products to contain very small quantities of this very harsh substance. Bodies are embalmed using this fluid, it is a known carcinogen and detrimental to the health of those who are exposed to it. The level and length of exposure will determined the severity of the illness.

So why am I telling you this? Because there are lots of imported insulation products coming into the country that contain high levels of Formaldehyde and whilst we haven’t tested any samples, there are reports of installers being violently ill whilst installing imported batts. The Formaldehyde gives off a very strong odour and this is exacerbated in a confined space, like a roof cavity.

There are many countries, like the US and Canada that have banned certain products due to them containing Formaldehyde. We have Australian Standards and all imported products should meet these standards, however this is somewhat questionable give the products we’ve seen on shelves and being installed.

Again when choosing an installer for your insulation and the product that you’re about to purchase, beware! Choose an Australian made product, preferably one that doesn’t use formaldehyde in the process to manufacture or that is used as a bonding substance. Polyester batts manufactured in Australia do not contain formaldehyde and are by far the healthiest option available.

I hope you can use this information. I have never really worried about formaldehyde until the rush of imports and the distinct odour that is associated with it. However, I would just use my nose to let me be the judge. Formaldehyde is a silent killer and I don’t want to find out that my not so keen nose missed something.”

The dangers of foil insulation

And now let’s move on to another dangerous kind of insulation - foil insulation. According to Archicentre, use of foil insulation over ceiling joists or beneath rafters in homes can conceal structural faults and make it almost impossible for inspectors to find potential electrical, plumbing or termite problems.

While it is true that in new homes foil installed in the roof contributes to energy efficiency, we must know that retro-fitting it inside existing homes creates a whole set of issues with locating and fixing faults, and with safety.

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“The most recent report by the NSW Firebrigade is that there have been a little more than 60 fire caused by insulation installed in ceilings. All were attributed to Cellulose fibre insulation (CFI). Which is basically, recycled mulched up paper. This is treated with a harsh chemical known as Borax (Octoborate), which is a fire retardant. Wool was not a contributing factor in any fire where insulation has been the cause.

Halogen lighting is a concern and as long as you have professionals install the insulation along with appropriate light protectors or an adequate air space left around the light and transformers there shouldn’t be an issue.

The safest form of insulation available from both a fire and personal long term health perspective are Polyester batts made from 100% polyester fibre. This and ensuring that your chosen installer is using a reputable manufacturer, i.e., a local manufacturer that is manufacturing polyester batts in Australia to the AS/NZS4859.1 and AS1530.3.

Beware of importers that advertise that their products meets the relevant AS/NZS4859.1 These products may not necessarily have been tested as rigorously as a product manufactured in Australia.

However, having said all that, the number of fires in relation to number of houses that have been insulated are relatively small and the long term benefits to the occupants and the environment are well worth the Government’s financial support. Like all else that consumers are likely to purchase, it is always BUYER BEWARE.”

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But what exactly IS a better kitchen? The top-end hardware and storage solutions.

People like lazy susans - if you’re not familiar with the term, it’s a circular revolving shelf installed in your cupboards to utilize the space better. Often they are installed in corner cabinets to solve the so-damn-hard-to-reach-pots problem.

Another favorite is the soft closing drawers and cabinet doors. Push them as hard as you like - there will never be a “bang”, very helpful for people with little babies or folks recovering from the night before.

Lift-up doors are very popular, because of the ease of access to the cabinets’ contents and for safety reasons - these doors you can’t walk into (well, unless you try very hard). Touch-opening doors and drawers are in demand as well - imagine cabinet doors with no handles, how cool is that!

Kitchen also includes the appliances installed with it - and people are choosing to have wine fridges, LCD/ Plasma TVs, dishwashers, water filtration systems and free-standing stoves in their kitchens.

As for the kitchen bench tops, nowadays the preferred material is granite - and stainless steel or timber become less and less popular.

Giving their bathroom a makeover, most often people replace the basins with modern-looking ones, replace the older vanity units, tap ware and tiles. Apparently semi-frameless shower screens are a hit, and there is a growing trend for multiple basins and multiple shower heads.

That’s it from me, now it’s your turn to speak up - what does your dream kitchen or bathroom look like?

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And in any renovation project, what are the 2 major components? The new kitchen and bathroom, of course. Now this part explains the HIA report about Australian kitchens and bathrooms getting bigger and better. They say that in 2008/09 the average cost for a new kitchen / bathroom, including installation, was $14,000 and that people will be spending more in 2010 and 2011.

If we do the math, to replace both the kitchen and the bathroom will cost us $28,000 - compare it to $60,000 for relocating and you get a saving of $32,000. Of course there are other costs involved in a renovation, but still - this alternative looks much more attractive.

And now back to you - what do YOU think, renovate or relocate?

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Let me give you some reasons to be skeptical about the huge rise in sea level by 2100. The climate change report is full of predictions based on assumptions. When I mentioned that people have been building relatively close to the shoreline because the sea level around Australia was pretty stable over the years, I didn’t back that - well, here are the numbers.

Between years 1842 and 2002 the sea level around Australia rose by about 17 centimeters. If you do the math, 17cm divided by 160 years gives us about 1 millimeter per year. Which means that if the sea level continues to rise at the same pace, 100 years later we will have a rise of 10cm - no big deal.

The report also assumes that greenhouse gas emission will continue at the present rate - well, maybe they will and maybe they won’t. The awareness has clearly been created and is being backed up by legislation and regulations of all sorts, to have the emissions reduces, etc.

It is also not a given that we, humans, have caused the global warming and there are quite a few scientists who claim that we’re now going through a natural process of global warming which has been closely followed by Ice Age in the past - in which case we need to worry about icy roads, not flooded houses.

All in all, I would say - if you love the ocean view, there’s still no reason to give up on it, especially if this climate change report affects the coastal property prices and creates some opportunities for you. One thing to bear in mind is that you would be facing difficulties insuring property that can be inundated - probably would be a wise thing to call an insurance company or two and ask about their policy regarding coastal homes.

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Because the ice and glaciers in Antarctica and Greenland are melting. Scientists don’t fully understand the whole mechanism of this melting and can’t predict exactly how and when the sea level will rise; they are estimating it to rise 1.1 meters by 2100.

Why have people been building close to the shoreline?

Because over the last 7000 years sea level around Australia has been stable, and people assumed it will stay the same. But now things are changing and the latest report from the government clearly makes that a false assumption.

What’s the worst thing that can happen?

Right now the benchmark for “nightmare weather” is an event similar to June 2007 when in NSW storms caused 200,000 houses to lose power, thousands of people were forced to evacuate and damage to property exceeded 1 billion dollars.

Where things might get really bad?

According to a graph from the government climate change report, there are 4 areas where the most extensive damage from storm tide is expected: Kingston, Hobsons Bay, Greater Geelong and Wellington. In Kingston the estimated number of existing buildings at risk is between 6500 and 9000, in Hobsons Bay between 4500 and 7500 houses are at rick, in Greater Geelong - between 4500 and 6500, and in Wellington between 3500 and 4000. These numbers are assuming the 1.1 m rise that is expected by 2100.

Where is the “risk zone”?

Have a look at the “before and after” photos below, taken from the “Climate change risks” report.

Here you are looking at Altona (Hobsons Bay area) in 2009.

And now you are looking at Altona in 2100, notice the blue area? Areas covered with water here used to be covered with houses in 2009, photo above.

These next 2 photos are of Geelong. This one is Geelong as we know it.

And this one is a prediction of Geelong after a storm tide in 2100.

That’s it, no more scary photos

Now about the City of Port Phillip. According to the 2100 predictions, properties close to the Elwood Canal, Luna Park, the St. Kilda Baths, the St. Kilda Pier and Marina are at risk from 2 factors - the first is a storm surge, and the second is infrastructure instability.

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“OK, Chris” you say “so the sea levels might rise 1.1 meters by 2100, but what does it mean to us?”

Let’s begin with the big picture. On the country level, between 157,000 and 247,600 residential buildings might be at risk of damage from sea inundation, many of the ports (and therefore our import and export) might be affected and many of the recreational places such as marinas might suffer.

Not only the ports - but also the airports are at risk, as well as the power plants that are located within 500 meters of the coastline. What’s more, there are many police stations, hospitals and fire and ambulance stations located close to the coast.

The climate change risks include not only inundation, but also what scientists call “events of extreme weather” - cyclones and storm surges. They are originated over the ocean and the closer a property is to the coast line, the bigger its chances to suffer from cyclones.

On the state level, considering that 25% of Australian population lives in Victoria, we’ve got a significant number of buildings in coastal areas that is in danger of inundating and storms.

The areas at risk include bayside suburbs Chelsea and Aspendale, Altona (and the City of Hobsons Bay), Geelong, St. Kilda and Middle park.

In my next post I will write in more detail about each of the areas at risk, explaining about the problematic locations and what percentage of houses is likely to suffer in each location. Stay tuned!

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Flexible-rate mortgage versus fixed-rate mortgage

When you opt for fixed-rate mortgage, your monthly payments are fixed throughout the term of your loan. So, you can plan out your finances accordingly. On the other hand if you take out adjustable-rate mortgage or variable rate mortgage, your payments will change depending on the prevailing rates in the market. If the mortgage rate escalates (in case of variable mortgage rate), so will your payments and if they drop your mortgage payments will drop too.

Variable rate mortgages are good if you plan to move within a short time period (for instance 3 to 7 years), it is a good option. This is because in case of ARM, the interest rate is fixed initially for a period 3, 5 or 7 years and escalates thereafter and rates start to fluctuate.

In Australia, the banks are the biggest lenders of mortgage extending approximately 92% of all originating loans, Commonwealth as well as Westpac constituting the mortgage bulk (as of August 2009). Reports suggest that as of December 2008, when sale of variable-rate mortgages was dropping, FRM or fixed-rate mortgage almost came to a standstill as there were no takers.

Studies reveal that the adjustable-rate mortgage or variable-rate mortgage in Australia stood at 8.87% for the last 59 years. This data is provided by Reserve Bank of Australia’s standard variable mortgage rates between January 1959 and February 2008. Surprisingly, the same rate exceeded 9% between July 1974 and August 1993. The mortgage rate slid back to 8.75% for a year and didn’t return below 9% until 1996 November.

Australian real estate market and recession

Recession has hurt investor sentiments of consumers to a great extent. However, the policy stimulus extended by the Central Bank and Federal Government has injected some confidence among the consumers. There was remarkable increase in consumer confidence that went up to a whopping 109.4% from 9.3% in July 2009.

In addition to this the $20 billion “cash handouts” have also added to the soaring confidence among consumers. So, if the rates are affordable for you, take the opportunity to own your dream home. However, it is important that you weigh the pros and cons of taking out a variable or fixed rate mortgage in Australia so that your mortgage payments are affordable and predictable.

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This has been the explanation for some 30 house fires in NSW, that happened days after a brand new insulation was fitted. These people simply wanted to improve their homes taking advantage of the recently announced government rebate and as a result were almost left homeless.

The worst part is that even smoke alarms weren’t a big help as they weren’t triggered right away. This could be because of the fact that the fire is above them, not below.

Firemen are urging people to climb up and make sure that the downlights are not being smothered by the insulation. I know that we shouldn’t have to - but hey, better safe than sorry!

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