Sorry for the brief hiatus from this blog but, just as many Albertans, we too were affected by the recent flooding.  We were fortunate that we lost some “stuff” and our previously finished basement is now gutted and awaiting rebuild, but we still have our home and, above all else, and overwhelming sense of community, friendship, compassion and generosity that will stay with me forever.

Our little community in Calgary, Sunnyside, was inundated with donations of food, clothing, cleaning supplies, tools and an abundance of volunteers.  Now that the clean up is coming to an end and everyone is contemplating next steps (insurance, rebuild etc), we have been taking many of the donations we have received to other communities who are just starting their clean up, like High River.

My heart sank as I drove into High River yesterday in search of somewhere to drop off the donated items.  The destruction there is overwhelming and yesterday was really their day 1 … the first day of clean up for the first residents allowed back to their homes.  There are also many that aren’t allowed back yet.  We are at least 10 days ahead of these people and my thoughts are with all of them as they see their homes and the devastation for the first time.


There are many questioning whether the damage to their property will be covered by insurance and many others who have already had insurance companies reject their claims.   The Alberta Government has stepped up and are prepared to help those who have uninsurable losses, but is it enough?  $10,000 doesn’t go very far if you have a fully developed basement or if your first floor was also inundated.

Huffington Post published a great article yesterday about homeowners banding together to name and shame insurance companies who have rejected claims for sewer backup damage.  It is great to see neighbours, friends and communities going that extra mile to help one and other and hopefully the insurance companies that have been named will see sense.

There are other financing options for those looking to rebuild whether temporary (i.e. until Alberta Government funding is paid) or permanent (i.e. to fill in the gaps that insurance or the Alberta Government fall short).  

We, for example, are looking at this as an opportunity to make some changes to a previously poorly laid out basement.  Because we live in a 101 year old bungalow, the basement is almost half of our living space and want to ensure we maximize the space as best we can. 

These small changes (i.e. moving furnace and hot water heater from the middle of the basement to an exterior wall), will cost money that, obviously, insurance won’t cover. We are using a Home Equity Line of Credit (HELOC) to finance these changes.

A HELOC, next to your actual mortgage, is the cheapest money you can get (i.e the lowest interest rate for a loan) because it is secured by your home. 

To find out if a HELOC is the best option for you to get you on your way to rebuilding, contact me for FREE advice and consultation.

Good luck Alberta and thanks to all the volunteers and crews that continue to work tirelessly, helping their fellow Albertans get back into their homes or rebuild.  You are all heroes in my book!