The Smart Home: Room By Room | Smart Home Series

Diane Buchanan • April 13, 2016

Last week on the blog we talked about smart technology, this week we go through the home. Next week we finish the series with a question and answer period that will help you decide which smart technology is right for you!

Varied, intricate but certainly user friendly, “smart home” technology is currently available for purchase, installation and utilization.

These in-home innovations can be very simple and straightforward. Samsung currently sells a “smart home starter kit” which will do wonders at transforming your home into a “smart” hub, at an affordable price. Or they can be a tad more complex, for this, we look to the pacific northwest and to the home of Bill Gates. Here we see the apex of this technology, nicknamed Xanadu 2.0, this 66,000 square foot mansion is known for it’s design and technology, it cost $63M to build, now that is quite the smart home budget.

The House Bill Gates Built

“Upon entering everyone in the home is pinned with an electronic tracking chip. As you move through the rooms, lights come on ahead of you and fade behind you. Your favourite songs will follow you throughout the house, as will whatever you’re watching on television. You can entertain yourself by looking at Gates’ extensive electronic collection of still images, all available on demand. The chip keeps track of all that you do and makes adjustments as it learns your preferences. When two different chips enter the same room, the system tries to compromise on something that both people will like.” Reference: Smart Home Software and Technology.

Now obviously, this is in extreme example (perhaps the most extreme example that there is, currently); but what isn’t extreme is the idea that, whether you’re a billionaire fifty times over or you’re paying into a twenty-five year mortgage, this technology (on some level) is for you; that it’s here to help you in your daily life.

So let’s walk through of a reasonably equipped smart home, just to give you a taste of that which is out there, for your (the consumer’s) buying pleasure.

The Garage

From the outside of the home, looking in, it’s all about letting the homeowners inside, and keeping unwanted visitors, outside. Garage doors can be programmed to open automatically when smartphones (programmed into the system) draw near. Additionally, this technology can be applied to front and rear house doors. This means that, if the house “knows” you, you gain access. If the house doesn’t “know” you, you’re out of luck.

The Laundry Room

Moving from the garage to the laundry room, we see the advent of “smart” washers and dryers. These machines, when connected, allow the user to track the amount of energy being used at any moment. Many current models can also be programmed to send you a text message when your clothes are ready to be switched over or folded.

The Kitchen

In the kitchen, it’s all about the smart appliances. Here are just a few examples:

The Fridge:  A few short years ago, it would have seemed ridiculous to suggest that “smart” fridges would be available to purchase; fridges that could do everything from suggest meals (based on the regular contents of your fridge), to warn you of impending expiration dates. But this is 2016, and what was once far fetched is now reality.

The Countertop Oven:  Companies like Breville and June have developed “smart” oven technology; ovens that can determine the weight and “girth” of that which is being baked or broiled and adjust heating coverage appropriately.

Accessories:  Ever want to turn on your coffee maker but don’t want to get up to do it? Well, turn it on from your phone! Ever need a charging station but can’t find that cursed iphone charger? Simply lay your phone down on your countertop, which also happens to double as a wireless charging station. The world is truly your playground when it comes to these “smart” kitchen upgrades.

The Bedroom

Finally, as you head upstairs after a long day, there are certain features of the “smart house” that make this transition from day to night as simple as crawling under the covers. Voice or tablet activated blinds can be moved up or down, and the thermostat can be set remotely for each room in the house, both for maximum energy savings and for the answer to those cold morning floors.

Obviously these are just a few of the smart upgrades available to you. But right now, it’s possible to park your smart car in your smart garage, then sit down after a long day at work, turn on your smart TV while your kid watches Netflix on your smart phone, all while your smart washer is getting ready to text you to change the laundry over while your smart oven cooks a roast. Step aside Bill Gates.

When you are ready, smart is ready for you.

DIANE BUCHANAN
 Mortgage Broker

LET'S TALK

What Is a Cashback Mortgage and How Does It Work?

By Diane Buchanan • March 25, 2026
Cashback Mortgages: Are They Worth It? Here’s What You Need to Know If you’ve been exploring mortgage options and come across the term cashback mortgage , you might be wondering what exactly it means—and whether it’s a smart move. Let’s break it down in simple terms. What Is a Cashback Mortgage? A cashback mortgage is just like a regular mortgage—but with one extra feature: you receive a lump sum of cash when the mortgage closes . This cash is typically: A fixed amount , or A percentage of the total mortgage , usually between 1% and 7% , depending on your mortgage term and lender. The money is tax-free and paid directly to you on closing day. What Can You Use the Cashback For? There are no restrictions on how you use the funds. Here are some common uses: Covering closing costs Buying new furniture Renovations or home upgrades Paying off high-interest debt Boosting your cashflow during a tight transition Whether it’s to help you settle in or catch up financially, cashback can offer a helpful buffer— but it comes at a cost . The True Cost of a Cashback Mortgage Here’s the part many people overlook: cashback mortgages come with higher interest rates than standard mortgages. Why? Because the lender is essentially advancing you a small loan upfront—and they’re going to make that money back (and then some) through your mortgage payments. So while the upfront cash feels like a bonus, you’ll pay more in interest over time to have that convenience. Breaking Down the Numbers It’s hard to give a blanket answer about how much more you’ll pay since it depends on: Your interest rate The cashback amount The mortgage term Your payment schedule This is why it’s important to run the numbers with a mortgage professional who can help you compare this option with others based on your personal financial situation. Are You Eligible for a Cashback Mortgage? Not everyone qualifies. Cashback mortgages generally come with stricter requirements . Lenders often want to see: Excellent credit history Strong, stable income Low debt-to-income ratio If your mortgage file includes anything “outside the box”—like being self-employed or recently changing jobs—qualifying for a cashback mortgage might be tough. What If You Need to Break the Mortgage? This is one of the biggest risks with cashback mortgages. If your circumstances change and you need to break your mortgage early, you could be on the hook for: Paying back some or all of the cashback you received, and A prepayment penalty (typically the interest rate differential or 3 months’ interest—whichever is higher) That can be a very expensive combination. So if there’s even a chance you might need to sell, refinance, or move before your term is up, a cashback mortgage might not be the best fit. Should You Consider a Cashback Mortgage? Maybe—but only with eyes wide open. Cashback mortgages can be helpful in the right scenario, but they’re not free money. They’re a lending tool that benefits the lender , and the key is knowing exactly what you’re agreeing to. Final Thoughts: Talk to an Expert First Choosing the right mortgage isn’t just about the lowest rate or the biggest perk—it’s about making a choice that fits your whole financial picture. If you’re considering a cashback mortgage, or just want to explore all your options, let’s talk. As an independent mortgage professional , I can help you weigh the pros and cons of various products, so you can make a confident, informed decision. Have questions? I’d be happy to help—reach out anytime.

Bank of Canada Holds Rate at 2.25% — March 18, 2026

By Diane Buchanan • March 18, 2026
The Bank of Canada announced today that it is holding its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. For anyone watching the mortgage market — whether you're renewing, purchasing, or simply keeping an eye on borrowing costs — here's a breakdown of what was announced and what it may mean for you.