GTA Homes Magazine - February 24, 2024

Greater Toronto’s Finest NEW HOME GUIDE

INSIDE:

2024 WILL BE A PIVOTAL YEAR FOR GTA HOMEBUILDING

Greater Toronto Area Feb. 24–March 23, 2024

LOCATION, LOCATION, LOCATION AN INTERNATIONAL PHENOMENON

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Nestled within Vista Ridge in Beamsville, Ontario, Benchmark stands as a testament to modern farmhouse living at its finest. This community not only captures the essence of rural charm but also offers a host of key features that make it a truly unique and coveted place to call home.

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FEB. 24–MARCH 23, 2024

CONTENTS COVER STORY

20

Fieldgate Homes FIND YOUR DREAM HOME IN FIELDGATE’S SIGNATURE GTA COMMUNITIES

DEPARTMENTS

10 11

18

The recovery is on

In the Spotlight

GTA new home market sees lower sales in December; more news on pages 14, 15, 16 and 17 Catch up between issues at nexthome.ca

3 things prospective homebuyers can look forward to in 2024

28

Taking action: Taxation, supply and growth

Western View

Adding new taxpayers limits municipal tax increases

Feb. 24–March 23, 2024

36 Decor

Bathroom trends we should talk about

38

32

Legally Speaking

How to carefully prepare to buy a home

50 Industry Report

Decor Trends The art of design

40 Home Finds

Inspiring home products and decor trends for the new season

29 Home Realty

2024 will be a pivotal year for homebuilding in the GTA

COLUMNS

HOMES Magazine |

TRREB Report

The benefits of buying a home in a master-planned community

Find your dream home in Fieldgate’s signature GTA communities

INSPIRATION

26 Personal Finance

HOMES Online

20 Fieldgate Homes

6

Location, location, location an international phenomenon

Editor’s Note

FEATURES

23

24 Real Estate Pro

IN EVERY ISSUE

7

Contributors

44 Maps & Charts for New Home Communities

CONTRIBUTORS

PERSONAL FINANCE | JESSE ABRAMS Jesse Abrams is Co-Founder at Homewise, a mortgage advisory and brokerage firm based in Toronto. thinkhomewise.com

SENIOR VICE-PRESIDENT, SALES, NEXTHOME

Hope McLarnon 416.708.7987 hope.mclarnon@nexthome.ca

DIRECTOR OF SALES, ONTARIO, NEXTHOME

Natalie Chin 416.881.4288 natalie.chin@nexthome.ca

WESTERN VIEW | MIKE COLLINS-WILLIAMS

EDITORIAL DIRECTOR

Mike Collins-Williams, RPP, MCIP, is CEO West End Home Builders’ Association. westendhba.ca.

EDITOR-IN-CHIEF – GREATER TORONTO AREA

Amanda Pereira Wayne Karl wayne.karl@nexthome.ca CONTRIBUTORS

TRREB REPORT | PAUL BARON Paul Baron is President of TRREB, and a career real estate executive with more than 30 years of experience. He is the Broker of Record for Century 21 Leading Edge Realty Inc., which he founded in 1993. trreb.ca

Jesse Abrams, Paul Baron, Mike Collins-Williams, Debbie Cosic, Sara Duck, Bilha Kangethe, Barbara Lawlor, Linda Mazur, Jason Mercer, Ben Myers, Lisa Rogers, Jayson Schwarz, Dave Wilkes EXECUTIVE MEDIA CONSULTANTS

Jacky Hill, Michael Rosset

HOME REALTY | DEBBIE COSIC Debbie Cosic is CEO and founder of In2ition Realty. She has overseen the sale of more than $15 billion worth of real estate. With Debbie at its helm, In2ition has become one of the fastest-growing and most innovative new home and condo sales companies. in2ition.ca

VICE-PRESIDENT, MARKETING – GTA

Leanne Speers

MANAGER, CLIENT RELATIONS

Sonia Presotto

MANAGER CUSTOMER SALES/SERVICE

Marilyn Watling

SALES & MARKETING CO-ORDINATOR

Gary Chilvers

DECOR | LINDA MAZUR Linda Mazur is an award-winning designer and Principal of Linda Mazur Design Group. With almost two decades of experience this in demand multi-disciplinary design firm is known for creating relaxed, stylish spaces and full-scale design builds throughout the GTA and Canada. lindamazurdesign.com @LindaMazurGroup

STAT CHAT | BEN MYERS Ben Myers is the President of Bullpen Consulting, a boutique residential real estate advisory firm specializing in condominium and rental apartment market studies, forecasts and valuations for developers, lenders and land owners. Contact him at bullpenconsulting.ca and @benmyers29 on Twitter.

BUSINESS DEVELOPMENT MANAGER

Josh Rosset DISTRIBUTION

distributionteam@nexthome.ca ACCOUNTING INQUIRIES

accountingteam@nexthome.ca DIRECTOR OF PRINT MEDIA

Lauren Reid–Sachs

VICE-PRESIDENT, PRODUCTION – GTA

Lisa Kelly

PRODUCTION MANAGER – GTA

Yvonne Poon

GRAPHIC DESIGNER & ASSISTANT MANAGER

Alicesa Pullan

GRAPHIC DESIGNER & PRE-PRESS COORDINATOR

Hannah Yarkony

BIG STYLE | LISA ROGERS Lisa Rogers is Executive Vice-President of Design for Dunpar Homes. Lisa has shared her style and design expertise on popular television programs such as Canadian Living TV, House & Home TV and The Shopping Channel.

Lisa is also a regular guest expert on CityTV’s Cityline. dunparhomes.com.

LEGALLY SPEAKING | JAYSON SCHWARZ Jayson Schwarz LL.M. is a Toronto real estate lawyer and partner in the law firm Schwarz Law LLP. He can be reached by visiting schwarzlaw.ca or by email at info@schwarzlaw.ca or phone at 416.486.2040.

BILD REPORT | DAVE WILKES Dave Wilkes is president and CEO of the Building Industry and Land Development Association (BILD), the voice of the home building, land development and professional renovation industry in the GTA. For the latest industry news and new home data, follow BILD on Twitter at @bildgta or visit bildgta.ca

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Condos & Towns at Lakeview Village

All renderings are artist’s concept. Prices, sizes and specifications are subject to change. E.&O.E.

Estate Homes at Glen Williams

EDITOR’S NOTE

THE RECOVERY

IS ON

WAYNE KARL EDITOR-IN-CHIEF HOMES Magazine

EMAIL: wayne.karl@nexthome.ca TWITTER: @WayneKarl

+ get social 10

HOMES Magazine |

Feb. 24–March 23, 2024

You may recall in our Outlook 2024 special report in the Jan. 27 issue of HOMES, there were early signs that 2024 is shaping up to be a much better year than its predecessor. Housing supply, interest rates, inflation, government policy and other issues were a cause for concern last year, but there was relief already on the horizon.

(And if you happened to missed that issue, you can find the updated version of the story on nexthome.ca.)

“I see 2024 bringing a stronger real estate market,” says Deena Pantalone, managing partner and chief innovation officer at National Homes. “The fundamentals are all there. The job market, population growth and income are all healthy and, with the lower sales of last year, there is so much pent-up demand. Remember the old adage, ‘When is the best time to buy real estate?

Yesterday.’ All we need is downward movement on interest rates – even a slight lowering – and sales will start to rise again.”

More good news came on Feb. 14, when the Canadian Real Estate Association said there are signs the recovery may already be underway.

“Sales are up, market conditions have tightened quite a bit, and there has been anecdotal evidence of renewed competition among buyers,” says Shaun Cathcart, CREA’s senior economist. “However, in areas where sales have shot up most over the last two months, prices are still trending lower. Taken together, these trends suggest a market that is starting to turn a corner, but is still working through the weakness of the last two years.”

Then just before press time, on Feb. 20, Statistics Canada released the Consumer Price Index for January, showing that inflation is trending down – to 2.9 per cent on a year-over-year basis, from 3.4 per cent in December.

With such important signposts providing hope, we now await Bank of Canada’s action on interest rates. High inflation was the main reason BoC maintained higher rates than a few years ago, holding its target for the overnight rate at five per cent on Jan. 24.

Most experts were expecting rates to begin declining in spring, so this progress aligns perfectly with the Bank’s next rate announcement on March 6. Rate relief might come then – though more likely on the following announcements on April 10 or June 5 – but it’s clear conditions are improving.

Strong fundamentals, more homebuying activity, pent-up demand – and hopefully very soon – lower rates will spur all kinds of activity on the homebuying and building fronts.

Use this time, then, to prepare and plan your homebuying move, so you’re ready to take advantage when the opportunities arise.

Interact with us on social media: nexthome

IN THE SPOTLIGHT

GTA NEW HOME MARKET SEES LOWER SALES IN DECEMBER GTA new home sales were slow in December, experiencing marginal growth from December 2022, which was the second lowest December monthly new sales following December 2008, the Building Industry and Land Development Association (BILD) reports.

There were 554 new home sales in December, up 0.5 per cent from December 2022 and 67 per cent below the 10-year average, according to Altus Group, BILD’s official source for new home market intelligence.

“With current interest rates, we are experiencing a hurry up and wait sales environment as potential buyers sit on the sidelines,” says Justin Sherwood, senior vice-president of communications and stakeholder relations at BILD. “Given that housing starts lag pre-construction sales by as much as two years, we can expect that the low level of sales in 2023 will result in lower housing starts in the future. In fact, we are already seeing the pace of housing starts in the GTA

beginning to decline. This will result in less housing supply being added to the market in the near future, aggravating the housing crisis at the same time as we are experiencing increasing demand for new homes.”

“Both new-home buyers and builders remained on the sidelines in December, lacking the confidence to re-engage,” says Edward Jegg, research manager with Altus Group.

“As a result, new home sales were sparse and the likelihood for an appreciable uptick in the first half of 2024 remains dim.”

Condominiums, including units in low-, medium- and highrise buildings, stacked townhouses and loft units, accounted for 400 units sold in December, down two per cent from December 2022 and 66 per cent below the 10-year average.

There were 154 single-family home sales in December, up six per cent from December 2022 and 70 per cent below the 10-year average. Single-family homes include

detached, linked and semi-detached houses and townhouses (excluding stacked townhouses).

Total new home remaining inventory decreased compared to the previous month, to 20,252 units.

It included 16,850 condominium units and 3,402 single-family dwellings. This represents a combined inventory level of nine and half months, based on average sales for the last 12 months. This is the highest inventory level since 2015, however builders added very little inventory to the market in December in terms of new projects.

Benchmark prices increased in December for both single-family homes and for condominium apartments compared to the previous month. The benchmark price for new condominium apartments was $1.04 million, down 7.5 per cent over the last 12 months. The benchmark price for new single-family homes was $1.60 million, which was down 8.5 per cent over the last 12 months. nexthome.ca 11

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IN THE SPOTLIGHT

GTA HOME SALES EXPECTED TO CLIMB IN 2024 The GTA housing market will improve in 2024, supported by strong economic fundamentals, according to the Toronto Regional Real Estate Board (TRREB) in its 2024 Market Outlook and Year in Review report and interactive digital digest.

“Demand for ownership housing in the GTA will start improving in 2024,” says TRREB Chief Market Analyst Jason Mercer. “Record population growth, a resilient economy, low unemployment and declining mortgage rates in the second half of the year will result in increased home sales compared to 2023. This will be the start of a multi-year recovery as some households will still face affordability challenges, even as borrowing costs begin trending lower. As the demand for housing picks up, it will be equally important 14

HOMES Magazine |

Feb. 24–March 23, 2024

to see a rebound in the supply of homes for sale and an uptick in new home construction.

“Tighter market conditions will see the average selling price move closer to $1.2 million this year,” adds Mercer. “The second highest mark on record, but still below the 2022 peak.”

The Market Outlook and Year in Review report also takes an in-depth look at the impact of the housing crisis on the mental and physical health of residents, and the need for more housing supply in response to record population growth driven by immigration.

“It’s clear that our regions will only see sustained relief on the affordability front once we remove the roadblocks standing in the way of progress and get shovels in the

ground faster,” says TRREB President Jennifer Pearce. “In the wake of a growing population, policymakers cannot lose sight of planning ahead, and avoid applying band-aid solutions that often result in larger issues than the problems they are attempting to solve.”

“We need to rapidly increase our supply and assist first-time homebuyers with relief on the significant upfront land transfer tax,” adds TRREB CEO John DiMichele.

“Prioritizing missing middle housing will provide more diverse and affordable housing options – something we have long called for.

All levels of government need to work together and ensure the right incentives are in place for developers to build more housing across the spectrum.”

IN THE SPOTLIGHT

CANADIAN HOME SALES SHOWING SIGNS OF RECOVERY

Following a weak second half of 2023, home sales over the last two months are showing signs of recovery, according to the latest data from the Canadian Real Estate Association (CREA).

Home sales activity recorded over Canadian MLS Systems rose 3.7 per cent between December 2023 and January 2024, building on the 7.9-per-cent month-overmonth increase recorded the month prior. While activity is now back on par with 2023’s relatively stronger months recorded over the spring and summer, it begins 2024 about nine per cent below the 10-year average.

“Sales are up, market conditions have tightened quite a bit, and there has been anecdotal evidence of renewed competition among buyers,” says Shaun Cathcart, CREA’s senior economist. “However, in areas where sales have shot up most over the last two months, prices are still trending lower. Taken together,

these trends suggest a market that is starting to turn a corner but is still working through the weakness of the last two years.”

National gains were once again led by the Greater Toronto Area (GTA), along with Hamilton-Burlington, Montreal, Greater Vancouver and the Fraser Valley, Calgary and most markets in Ontario’s Greater Golden Horseshoe and cottage country.

The actual (not seasonally adjusted) number of transactions came in 22 per cent higher than January 2023, the largest year-overyear gain since May 2021. However, with current activity still running at below-average levels, the doubledigit gain was more reflective of the base effect from the comparison to January 2023, which was the worst start to almost any year in the past two decades.

“The market has been showing some early signs of life over the last couple of months, probably no

surprise given how much pent-up demand is out there,” says Larry Cerqua, chair of CREA. “There’s a consensus that the market will probably look quite a bit different this year compared to 2022 and 2023, so if you’re hoping to buy or sell a property in 2024, contact a realtor in your area and get your game plan ready today.”

The Aggregate Composite MLS Home Price Index (HPI) fell by 1.2 per cent on a month-over-month basis in January 2024. This represents an acceleration from the 1.1-per-cent decline recorded in December.

Price declines of late have been predominantly located in Ontario markets, particularly the Greater Golden Horseshoe and, to a lesser extent, BC. The Aggregate Composite MLS® HPI was up 0.4 per cent on a yearover-year basis in January 2024, little changed from readings over the last six months (0.4 to 1.1 per cent). nexthome.ca 15

IN THE SPOTLIGHT

TIGHTER MARKET CONDITIONS IN JANUARY 2024 COMPARED TO PREVIOUS YEAR: TRREB The resale housing market showed signs of resurgence in January 2024, with sales rising over January 2023 levels, according to the Toronto Regional Real Estate Board (TRREB).

The annual increase came as some homebuyers started to benefit from lower borrowing costs associated with fixed rate mortgage products.

New listings were also up year-overyear, but by a lesser annual rate compared to sales. The resulting tighter market conditions when compared to the same period a year earlier, potentially points toward renewed price growth as we move into the spring market.

“We had a positive start to 2024,” says TRREB President Jennifer Pearce.

“The Bank of Canada expects the rate of inflation to recede as we move through the year. This would support lower interest rates which would bolster homebuyers’ confidence to move back into the market. First-time buyers currently facing high average rents would benefit from lower mortgage rates, making the move to homeownership more affordable.”

There were 4,223 sales reported through TRREB’s MLS system in January 2024 – an increase of more than one-third compared to January 2022. The number of new listings was also up year-over-year, but by a lesser annual rate of approximately six per cent. Stronger sales growth relative to listings suggests buyers experienced tighter market conditions compared to a year ago.

On a month-over-month seasonally adjusted basis, both sales and new listings were up. Sales increased more than listings which means market conditions tightened relative to December 2023.

“Once the Bank of Canada actually starts cutting its policy rate, likely in the second half of 2024, expect home sales to pick up even further,”

says TRREB Chief Market Analyst Jason Mercer. “There will be more competition between buyers in 2024 as demand picks up and the supply of listings remains constrained. The end result will be upward pressure on selling prices over the next two years.”

The MLS Home Price Index Composite in January 2024 was down by less than one per cent yearover-year in January. The average selling price was down by one per cent year-over-year to $1.02 million.

On a month-over-month seasonally adjusted basis, both the MLS HPI Composite and the average selling price also trended lower.

“While housing market conditions are expected to improve with lower borrowing costs, there are still a

number of policy issues that need to be addressed,” says TRREB CEO John DiMichele. “At the federal level, more reflection on the Office of the Superintendent of Financial Institution mortgage stress test is required, especially to its application at different points in the interest rate cycle. The focus for the province needs to remain on building 1.5 million new homes. At the municipal level, raising property taxes without consistent support from the federal and provincial governments won’t eliminate Toronto’s structural deficit.

Helping first-time homebuyers get into the ownership market will ease movement across the entire spectrum and relieve pressure on the rental market.”

GTA CONDO AVERAGE PRICES, JANUARY 2024 (YR/YR % CHANGE) Market

416

905

Total

Detached

$1.57M (5.7)

$1.29M (0.1)

$1.35M (0.8)

Semi-detached

$1.19M (4.3)

$966,193 (1.8)

$1.03M (1.8)

$895,307 (-8.8)

$890,645 (2.9)

$891,443 (0.5)

$709,419 (0.1)

$628,375 (-2.7)

$681,979 (0.6)

Townhome Condo

SOURCE: TRREB

16

HOMES Magazine |

Feb. 24–March 23, 2024

IN THE SPOTLIGHT

WEHBA WELCOMES CANADA’S INVESTMENT IN BURLINGTON’S HOUSING SUPPLY Federal MPs Pam Damoff and Karina Gould recently announced the City of Burlington will receive $21 million in federal funding through the Housing Accelerator Fund. This funding will assist Burlington with its ambitious housing pledge of building 29,000 new homes over the next decade.

Through Canada Mortgage and Housing Corp. (CMHC), the Housing Accelerator Fund provides incentive funding to Burlington that is tied to the number of new housing starts the municipality can facilitate. CMHC states the funding is to support “the development of complete, low-carbon and climate-resilient communities that are affordable, inclusive, equitable and diverse.”

“The City of Burlington and the development industry have been

working under a renewed close partnership to facilitate the more than doubling our current rates of housing construction with a strong focus on bringing more units from the development pipeline through to the permit process,” says Mike Collins-Williams, CEO of the West End Home Builder’s Association (WEHBA). “This is a monumental task that requires collaboration between all three levels of government and the private sector. WEHBA is pleased to see the federal government coming to the table a significant amount of money to help us collectively facilitate the construction of significantly more homes.”

Burlington’s housing supply crisis means too many people are unable to find a home that meets their

needs and budget. Addressing this crisis means ensuring more supply is built and is readily available. The Federal Housing Accelerator Fund will help fund infrastructure and remove barriers to the construction of new housing units.

“The federal dollars will enable the City of Burlington to accelerate planning and permit approvals and upgrade infrastructure for new home construction in Burlington,” says Collins-Williams. “This will enable our members to deliver on the ambitious city objective of 29,000 newly constructed homes over the next 10 years.”

The announcement will help set Burlington on the right path for ensuring more Burlingtonians can find a place to live, work and raise a family.” nexthome.ca 17

Catch up between issues at nexthome.ca and enjoy these popular stories

OUTLOOK 2024 LUXURY TOWNHOMES

Branthaven brings attainable luxury town living to Niagara Falls with JOY This spring, a new kind of community is taking shape in the heart of Niagara Falls.

Branthaven is bringing its renowned attainable luxury brand and an exciting line up of innovative new townhomes that are sure to bring joy to homebuyers.

HOUSING MARKET

Why this could be the year of the rebound Last year might not exactly have been a walk in the proverbial park for the housing market, but 2024 is shaping up to be something altogether different, with relief – and belief – in sight on most issues.

Market to return to normal, rates to fall in 2024 – Royal LePage After years of unprecedented irregularity, the real estate market may return closer to normal in 2024, according to the Royal LePage Market Survey Forecast.

ANALYSIS

Housing predictions for 2024 A housing correction is taking place, and 2024 is sure to be a pivotal marker in what will become an even stronger real estate market moving forward.

INSIGHT MORTGAGE ADVICE

4 essential steps for homeowners in 2024 This year poses some unique challenges compared to previous years, but the good news is that homeownership is a goal that’s still achievable. Here are some additional considerations you need to keep top of mind to ensure you go into this prepared.

Tackling Toronto’s housing affordability crisis with real solutions In the face of Toronto’s growing housing affordability crisis, families are depending on elected leaders focused on policy solutions that work. For City Council, that means shifting away from tinkering with housing taxes and instead focusing on boosting housing supply, improving affordability and making it easier to afford a home in the city.

Visit nexthome.ca or check us out on 18 HOMES Magazine |

Feb. 24–March 23, 2024

@HOMESMagazineON

@HOMESMagazine.Ontario

@homesmagazine

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COVER STORY

FIND YOUR DREAM HOME IN FIELDGATE’S SIGNATURE GTA COMMUNITIES Fieldgate Homes has been shaping the southern Ontario landscape for more than 65 years, with its award-winning master-planned communities and residences families have cherished for generations.

Superior construction, innovative designs, unmatched attention to detail and attentive customer service are all hallmarks of their excellence.

Every home is designed to reflect the contemporary needs and wants of the homebuyer through consistent 20 HOMES Magazine |

Feb. 24–March 23, 2024

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MILTON: VALLEYLANDS OF SIXTEEN MILE CREEK

Coming soon – executive 30-, 36and 43-ft. detached singles Introducing executive riverside living in a natural enclave setting with Valleylands of Sixteen Mile Creek in Milton. Take advantage of your rare opportunity to own 30-, 36- and 43ft. detached riverside residences with lots backing onto Sixteen Mile Creek.

Moments to southern Ontario’s most acclaimed golf courses and protected greenspaces, retail and restaurants, schools, services and access to the most convenient transit options, embrace a lifestyle unlike any other in Milton.

Register now at fieldgatehomes. com for exclusive updates and priority purchase opportunities on Valleylands of Sixteen Mile Creek.

BRAMPTON: THE CRESCENTS

Coming soon – freehold townhomes and singles

Experience a master-planned community that surrounds you with Brampton’s finest at The Crescents.

A collection of 30-, 38- and 45-ft. singles and freehold townhomes – on mostly crescent streets – just steps from Conservation Drive Park and Heart Lake Conservation Park. Immerse yourself in the city’s unmatched urban amenities, schools and services. Forge new connections with the convenience of Ontario’s fastest transit network, or stroll through the incredible greenspace with woodlands, parks and trails. Find the perfect place for your growing family in the city, against a vibrant backdrop of culture and energy.

Register now at fieldgatehomes.com.

STOUFFVILLE: CITYSIDE

Coming soon – grand opening of 36and 40-ft. singles Make your Dream Home Come True in an incredible community setting, just moments from Stouffville’s best

amenities. Featuring a new release of 36- and 40-ft. singles, embrace city sophistication and country charm from an ideal neighbourhood located close to Markham, Hwys. 404 and 407, and the Stouffville GO Station.

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NORTH OSHAWA: DREAMSCAPE

Coming soon – 30-, 36- and 42-ft. detached singles Enjoy affordable living in north Oshawa with the incredible residences of Dreamscape now open.

This highly anticipated new home community offers a superb mix of expertly designed and crafted 30-, 36- and 42-ft. singles moments to the best modern amenities Durham has to offer. Big box stores, bespoke boutiques, delicious dining, great schools, trails and conservation areas await those who call Dreamscape “home.”

Register now at fieldgatehomes.com. nexthome.ca 21

PICKERING: SEATON

Coming soon – freehold townhomes, semis, 30- and 36-ft. singles Enter a serene natural landscape that merges with the convenience of big city amenities at Pickering’s awaited Seaton community.

Live at the nexus of classic and contemporary with a remarkable collection of freehold townhomes, semis, 30- and 36-ft. singles in a skillfully designed community setting. This new community truly has something for everyone with Pickering Town Centre, beautiful Lake Ontario, shopping, greenspaces, restaurants, Toronto’s eastern border and so much more just minutes away.

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PICKERING: SEATONVILLE

Coming soon – freehold townhomes 30-, 35-, 36- and 43-ft. singles The newest sprawling masterplanned community carefully designed to reimagine Pickering’s landscape. This landmark community boasts a spectacular array of distinctive freehold townhomes, 30-, 35-, 36- and 43-ft. singles mere moments from downtown Pickering’s finest modern amenities and

22 HOMES Magazine |

Feb. 24–March 23, 2024

protected greenspaces. Quick and easy access to crucial transit options, Hwys. 407, 412 and 401 connect you to the whole of Durham and Toronto.

Register now at fieldgatehomes.com.

KLEINBURG: NEW KLEINBURG

Phase 1 has sold out. Register now for Phase 2 – one- and two-car garage freehold townhomes, semis and 30ft. singles New Kleinburg is a community of inspired family residences in a beautiful setting just moments from the heart of historic Kleinburg.

With the Hwy. 427 extension just minutes away, a new community school and excellent urban amenities close at hand, life in Kleinburg has never been more convenient.

Discover a remarkable collection of expansive one- and two-car freehold townhomes in this beautiful masterplanned community.

Register now at fieldgatehomes.com.

WEST WHITBY: WHITBY MEADOWS

Coming soon – new release of freehold townhomes, semis and singles A new release is coming soon with the Grand Opening of Whitby

Meadows Phase 3. Take advantage of spectacular residences in one of the GTA’s most popular communities with all-new townhomes, semis and 36- and 42ft. detached designs. Find a masterplanned community offering west Whitby’s best lifestyle near shopping, restaurants, Iroquois Park Sports Centre, Whitby GO Station, Heber Down conservation area, excellent schools and more.

Register now at fieldgatehomes.com.

UNIONVLLE: UNIONVILLE’S UPPER EAST SIDE

New community coming soon – freehold townhomes, 26- and 31-ft. two-car urban singles, 38-, 45- and 70-ft. estate singles Reach the height of elegance in one of Unionville’s most desired neighbourhoods with the master planned community of Unionville’s Upper East Side. A collection of freehold townhomes, 26- and 31-ft. urban singles with two-car garages, and 38-, 45- and 70-ft. estate singles backing onto Berzcy Creek and open greenspaces, while connected to Unionville’s finest amenities.

Register now at fieldgatehomes.com.

ADVICE | WESTERN VIEW

ADDING NEW TAXPAYERS LIMITS MUNICIPAL TAX INCREASES

MIKE COLLINS-WILLIAMS

Ontario municipalities today face numerous interrelated financial challenges. This results in pressures on the municipal tax levy (or tax rate) for residents in a high-inflation environment. No one likes paying higher taxes, especially when household budgets are already under so much strain.

An effective way to tackle the pressure to increase the municipal tax rates is actually to add more taxpayers through building more housing.

Building more housing supply has many positive benefits beyond the need for more housing. Not only does it enable more choice and affordability for residents, but it also eases pressure on the residential tax levy that is used to fund various public services and infrastructure projects.

City and town councils across Ontario come up against the difficult decision of raising their residential property taxes to cover the increasing capital and operating costs of municipal services. In the face of these significant tax increases, cities are actively looking at new development to offset tax hikes by increasing the city’s annual tax assessment growth rate. By adding more taxpayers, the city can raise additional revenue and limit the impact of increasing service costs on existing taxpayers.

New construction and the subsequent increased tax productivity of land generates new municipal revenue for the lifespan of the new building. Many municipalities are now

realizing that by incentivizing housing density and redevelopment, they decrease the impact of the residential property tax hike. Think about an empty parking lot downtown and how much tax revenue that generates versus a large condo tower, and how much revenue that would generate on the same piece of land.

This raises the number of taxpayers while providing the added benefit of addressing the current housing supply shortage and affordability crisis.

The interconnected nature of the housing continuum dictates that new supply in the market at all price points relieves pressure across all levels of the housing continuum. Through what is known as filtering, new market housing allows residents to move out of a more modest, affordable unit as

their income increases. These units become then available to aspiring homeowners, in need of a home. It is not simply affordable or supportive housing supply that is needed; market supply, broadly, at all levels is necessary for improving affordability and quality of life for all.

Forward thinking municipalities have realized: Now is the time to continue reducing barriers to new housing supply.

Mike Collins-Williams, RPP, MCIP, is CEO West End Home Builders’ Association. westendhba.ca.

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ADVICE | REAL ESTATE PRO

LOCATION, LOCATION, LOCATION

AN INTERNATIONAL PHENOMENON BARBARA LAWLOR

The phrase “location, location, location” is a popular mantra in the new home real estate market.

For most people who are looking to purchase a new home or condominium, a location that fits 24

HOMES Magazine |

Feb. 24–March 23, 2024

their needs is uppermost in their must-have list. Whether it is to live close to work, family, friends or local amenities, where a home or condo is situated affects their lives dramatically. Even investors consider location to be a primary deal-maker or -breaker when it comes to signing on the dotted line. It occurred to me that the phrase takes on an even deeper meaning when you think about it internationally. “Location, location, location” is what drives

many immigrants to choose Canada as their new place of residence.

And why not? Our country is a haven for those who live in war-torn nations. In July 2023, the Institute for Economics and Peace released its latest report ranking the safest and most peaceful countries in the world.

Of the 163 countries reviewed for their number of violent interior and exterior conflicts, level of distrust, political instability, potential for terrorist acts, number of homicides

“

Plus, the city was recognized as Canada’s very first Best Workplace for Commuters because of its support for employees commuting in sustainable ways such as transit, walking, cycling, carpooling and, of course, opportunities for hybrid work.

and military expenditures as a percentage of GDP, Canada ranked 12th in relative safety.

In addition, Canada is a place of opportunity. For decades, hardworking immigrants have relocated here to make a better life for themselves and their children. And certainly, looking back, immigrants have played a major part in building the Canada we enjoy today. Here, newcomers find access to an enviable array of amenities, from shopping to sports, entertainment, education, the arts, culture and cuisine. Our multiculturalism is one of our many strengths as a nation.

And then if we zero in on Toronto, our city is a popular residential destination for immigrants. Year after year, Toronto receives numerous top world rankings. Recently, Toronto was selected as one of 2024’s Greater

Toronto’s top employers. The reasons for this acknowledgement include dedicated health and wellness strategies for managing workloads and promoting connections in the workplace, maternity and parental leave top-ups, and the support of ongoing employee education with tuition subsidies, training initiatives, paid internships, co-op programs and summer student roles.

In addition, last year Toronto was recognized as one of Canada’s Best Diversity Employers. One of the reasons why our city was singled out is the “Profession to Profession Mentoring Immigrants” program being implemented this year in response to employment barriers faced by skilled newcomers. Plus, the city was recognized as Canada’s very first Best Workplace for Commuters because of its support for employees

”

commuting in sustainable ways such as transit, walking, cycling, carpooling and, of course, opportunities for hybrid work. And the list goes on.

So much of what we take for granted here is what attracts residents from around the globe. It is easy to understand why. When it comes to location, location, location, Canada remains one of the world’s finest and most coveted.

Barbara Lawlor is CEO of Baker Real Estate Inc. A member of the Baker team since 1993, she oversees the marketing and sales of new home and condominium developments in the GTA, Vancouver, Calgary and Montreal, and internationally in Shanghai. baker-re.com

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ADVICE | PERSONAL FINANCE

3 THINGS

POTENTIAL HOMEBUYERS CAN LOOK FORWARD TO IN 2024

JESSE ABRAMS

Entering into 2024, Canadians have several reasons to be cautiously optimistic, given the shifting economic landscape. With rates held relatively steady since July 2023, 26

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Feb. 24–March 23, 2024

there is a sense that rate increases could finally be easing, with the potential for modest declines on the horizon. Further, home prices have been dropping across many cities, as the market eases towards a more tempered pricing environment.

So, there may be a lot more that Canadians could look forward to this year, especially first-time homebuyers who have been waiting on the sidelines.

A POTENTIAL CORRECTION IN THE MARKET

Over the last two years, the Canadian housing market has experienced consistent interest rate hikes, in an effort to combat inflation. With the rising cost of living, it’s been difficult for Canadian buyers and homeowners to come up for air.

The good news is that we could be looking at a potential easing in the market this year. With most central

“

Homebuyers have plenty of reasons to be optimistic going into 2024. The trend in dropping housing prices is a significant factor.

”

VARIABLE RATE MORTGAGES MAY BE AN OPTION AGAIN

banks pausing rate hikes across the board, this could offer some relief to existing homeowners whose mortgage rates have skyrocketed, as well as a ray of hope for new buyers.

The high interest rate environment has left many prospective buyers unable to enter the market due to higher borrowing costs. While it is unlikely that rates will return to the lows they once were, even modest rate cuts will level the playing field for first-time homebuyers and create a more suitable entry point for a home purchase.

Going into this new year, variablerate mortgages might be a worthy consideration for homebuyers, especially if interest rates begin to lower.

Variable rate mortgages were appealing when rates were low and offered greater savings compared to fixed rates. However, as rates increased, the predictability of fixed rates became almost a necessity for Canadians to manage the continual interest rate increases. Now, with the potential for rates to decrease, the variable option could be back on the table.

If you’re comfortable with some uncertainty and can handle a potential increase in rates, a variable mortgage could be beneficial. We are not expecting dramatic shifts in rates like we experienced during the COVID era, but rather gradual declines. For potential buyers, it’s worth keeping an eye on these shifts. Should rates start to decline, a variable rate mortgage could be beneficial depending on your circumstances.

FURTHER DECLINES IN HOUSING PRICES

Homebuyers have plenty of reasons to be optimistic going into 2024. The trend in dropping housing prices is

a significant factor. There’s already been an 18-per-cent decrease in prices since the peak in March 2022, as reported by the Canadian Real Estate Association. But that’s not all – this trend appears to be more than just a short-term dip. In 2023, we saw home sales fall by 11 per cent from the previous year, marking the lowest level since the 2008 financial crisis.

Additionally, the Bank of Canada has maintained its prime rate at five per cent. This combination of a steady interest rate and the ongoing decline in housing prices suggests that buying a home could become more accessible this year.

Heading into 2024, Canadian homebuyers can anticipate more accessibility in the market, marked by potentially easing interest rates and a continued downward trend in housing prices. This offers a ray of hope for first-time buyers and a welcome relief for those affected by the rising rates, setting the stage for a more promising year.

Jesse Abrams is Co-Founder at Homewise, a mortgage advisory and brokerage firm. thinkhomewise.com

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ADVICE | TRREB REPORT

TAKING ACTION: TAXATION, SUPPLY AND GROWTH

JENNIFER PEARCE

How can we keep up with the Greater Toronto Area’s (GTA) constant evolution and everchanging needs? It is imperative that we continuously search for solutions that adequately support a growing population, existing infrastructure and future planning.

Revaluating the approach to addressing housing affordability challenges is essential to developing a more stable and sustainable housing action plan. TRREB’s 2024 Market Outlook & 2023 Year in Review report and interactive digital digest provides industry insights and forecasts for what’s in store for the GTA real estate market. Readers will discover new research on the social implications of unaffordability and what’s required to adequately prepare for a rising population.

TRREB CEO John DiMichele states that “building more affordable 28 HOMES Magazine |

Feb. 24–March 23, 2024

housing begins with identifying the obstacles that are holding us back. However, band-aid solutions often result in larger issues than the problems they are attempting to solve. Simply put, taxation and fees on housing won’t help the affordability crisis our region is facing. Land transfer taxes act as a barrier for homeowners who want to relocate, and increased taxation sidelines would-be firsttime homebuyers from entering the market at all.”

Turning to the market outlook, the direction of mortgage rates is key to where the housing market is headed in GTA.

Last year, high mortgage rates and affordability issues moved some buyers to the sidelines.

2023 YEAR IN REVIEW

• 65,982 home sales.

• 142,233 new listings.

• An average price of $1.12 million for all home types.

For videos, infographics and to read more about the need for housing supply with rising immigration, the impact of the housing crisis on social value, the trends for new homes and condos, and an in-depth look at the commercial market, you can explore the digital digest and report at trreb.ca.

2024 MARKET OUTLOOK

• Home sales will reach the 77,000 mark in 2024, marking a substantial improvement compared to the less than 66,000 transactions in 2023.

• With sales accounting for a greater share of listings in 2024, the average selling price will grow by almost four per cent to $1.17 million. This will be the second highest mark on record, but still below the 2022 peak.

Jennifer Pearce, TRREB President, is a Broker and Owner with ReMax Rouge River Realty Ltd., a family owned and operated brokerage. She is a secondgeneration realtor and has been licensed since 2000. trreb.ca

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ADVICE | HOME REALTY

THE BENEFITS

OF PURCHASING A HOME IN A MASTER-PLANNED COMMUNITY

DEBBIE COSIC In the world of real estate, condominium homes have become increasingly popular housing options, especially in master-planned communities. These communities offer a unique blend of convenience, comfort and community living that can be truly enticing for potential homeowners. If you’re contemplating your next housing investment, here are some of the notable benefits of purchasing a condo in a masterplanned community.

spirit. Residents often participate in community events, making it easier to form friendships and social connections. Condo living encourages interaction with neighbors, facilitating a close-knit community experience.

LOWER MAINTENANCE

Condos in master-planned communities often come with shared maintenance costs. This means that you won’t have to worry about costly repairs or maintenance tasks, such as roof replacements, exterior painting or landscaping. The condominium board and property management typically handle these responsibilities, allowing you to enjoy a hassle-free lifestyle.

AMENITIES GALORE

One of the most significant advantages of condo living in a master-planned community is access to a plethora of amenities.

These communities often feature recreational facilities, such as swimming pools, fitness centres, pickleball courts, TikTok studios, walking trails and more. Residents can enjoy all these amenities without the hassle and maintenance responsibilities that come with owning a standalone property.

ENHANCED SECURITY

Condo living in a master-planned community typically offers superior security measures, including gated access, surveillance systems, and onsite security personnel. This creates a safe and secure environment for you and your family, granting peace of mind that is priceless.

COMMUNITY ENGAGEMENT

Master-planned communities are designed to foster a sense of belonging and community

AFFORDABILITY

In many cases, condos in masterplanned communities can be more affordable than single-family homes in the same area. This makes them an attractive option for first-time homebuyers or those looking to downsize without compromising on location or amenities.

PRIME LOCATION

Master-planned communities are strategically located, often close to major highways, shopping centres, school and healthcare facilities. This provides residents with easy access to essential services and ensures that you’re never too far from the things you need.

INVESTMENT POTENTIAL

Condos in master-planned communities can also be a lucrative investment. These communities tend to appreciate over time, offering potential for a good return on investment if you decide to sell in the future. Additionally, they often have

stable rental markets, making them appealing to investors looking to generate rental income.

The bottom line is that purchasing a condo in a master-planned community offers a myriad of benefits, including access to amenities, enhanced security, reduced maintenance burden, a strong sense of community and a great return on investment. Whether you’re a first-time buyer, downsizer or an investor, these communities provide an attractive and convenient lifestyle choice.

So, if you’re in the market for a new home, explore the advantages of condo living within a masterplanned community, such as Parkside Village by Amacon Developments in Mississauga or Universal City

by Chestnut Hill Developments in Pickering. You might just discover your ideal home in the perfect location.

Debbie Cosic is CEO and founder of In2ition Realty. She has overseen the sale of more than $15 billion worth of real estate. With Debbie at its helm, In2ition has become one of the fastest-growing and most innovative new home and condo sales companies. in2ition.ca

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30 HOMES Magazine |

Feb. 24–March 23, 2024

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ADVICE | LEGALLY SPEAKING

HOW TO CAREFULLY PREPARE

TO BUY A HOME JAYSON SCHWARZ, LLM

Here you are getting ready to make what may be the largest single purchase that you will ever make in your life, when you are confronted by daily doses of anxiety caused by uncertainty and indecision. “What do I do?” you ask yourself.

Don’t be afraid, take your time, do the necessary research to identify the 32

HOMES Magazine |

Feb. 24–March 23, 2024

area you like, the services available to you and ensure that there are no hidden matters that could affect your decisions.

Research prospective neighbourhoods for future development, possible restrictions and their potential impact on property values.

Next, have an honest look at your employment situation, speak with your supervisor and make sure things are as secure as you can. If applicable, speak to your significant other and prepare a detailed

budget for all your expenses as prospective homeowners. Consider what happens if interest rates rise, and be prepared for exigencies.

Open a separate homebuying deposit account, and make weekly contributions to ensure you can maximixe a down payment.

Then there is the elephant in the room… interest rates.

Interest rates are high, could go higher (ask older people about 18- to 20-per-cent mortgages), and there may need to be more long-term planning than you’ve

much more amenable to negotiation than they have in many years. Find a builder that is selling to your price range and then worry about what necessities you need in your negotiations to ensure the home will work for you.

When it comes to the professionals you will need to help you with your purchase, consider this checklist: 1. MORTGAGE SPECIALIST

been accustomed. In other words, these days, you may have to lower your expectations and move slowly.

Buy a small condominium and then look to move every three to five years, as home values may not appreciate as quickly as they have in the past. Look to live outside the city, and look for job opportunities in smaller communities with more affordable housing.

The decision to buy should be motivated directly according to what you can afford. It may be difficult, but be very selective about nights out and your discretional spending.

Prioritize what you want – being able to buy a home.

The next thing to note is that the cost of construction is starting to come down, and builders will be

Whether at your bank or a mortgage broker, find a reputable financial expert you trust and are comfortable with. Find out how much money you can borrow and how much of a deposit you’ll need to put down. This will allow you to focus on homes you can afford. Get a pre-approval in writing so you have something to rely on, because today especially, it is critically important that you do not get caught up in the rush of buying a house beyond your budget. Nothing is worse than living for the house, not living in your home.

2. REAL ESTATE LAWYERS:

Look around for a lawyer who focuses on residential real estate in their firm. Check Google reviews and rankings, and look in real estate magazines such as Condo Life and HOMES. Ensure the lawyer does more than just close your deal. You want someone who will explain the

different kinds of ownership, why you should have a will before closing and other matters. Make sure they actually review your offer and all associated costs.

3. REALTOR:

Look for an experience realtor who knows the area you’re looking in, as well as the type of home you’re purchasing. Don’t just use a family friend or distant relative. Research potential realtors online, and get referrals from other homebuyers they’ve worked with.

Once you’ve found that perfect home, let your lawyer know so they are prepared to review the offer when received.

By fully and properly preparing for buying a home, you will change any potential anxiety and fear into excitement and a sense of accomplishment. Good luck.

Jayson Schwarz LL.M. is a Toronto real estate lawyer and partner in the law firm Schwarz Law Partners LLP. Visit online at schwarzlaw.ca or email info@schwarzlaw.ca with your questions, concerns, critiques and quandaries.

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HOMES, Condo Life + Active Life

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Canada’s trusted authority for the latest new home and condo developments, industry news and expert homebuying advice.

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INSIDE:

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Greater Toronto Area Dec. 5, 2020–Jan. 16, 2021

Greater Toronto’s COMPLETE CONDO GUIDE

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DEC. 5, 2020–JAN. 16, 2021

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INSPIRATION |

BATHROOM TRENDS WE SHOULD TALK ABOUT

by LINDA MAZUR Bathrooms have always been one of the smallest, and most utilitarian rooms in our home, never really garnering much attention… until now.

Today’s bathrooms have become rooms of luxury, trendiness and not just relaxation, but a place to focus on our wellness.

Bathroom trends for 2024 are building on the movement we have been seeing over the last couple of years, towards luxurious spalike bathrooms. But this year, with a bigger lean towards health and wellness, as well as luxury. With this, 36

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Feb. 24–March 23, 2024

we see an increase in the popularity of steam showers, saunas and even cold plunges, all in an effort to take better care of ourselves, as we have learned how this form of relaxation, from a health perspective, can contribute to lowering blood pressure and getting better sleep.

Natural materials continue in popularity. Wood always adds a warm organic vibe, and should be considered for not just vanities, but also for countertops, flooring and even wall treatments. The drive is towards creating calming

environments inspired by the colours and tones of nature, moving away from the starkness of the all-white bathrooms of the past. Lighter, warmer wood tones lend themselves well to designing a space that promotes relaxation and calmness.

The same can be said for natural stone tiles, such as terra cotta, which have a wonderful natural and earthy vibe.

Keeping in line with natural materials, marble is featured prominently this year, with the trend towards luxurious spa-like spaces.

Marble does have a wonderful aesthetic warmth to it. Pairing it with wood accents, luxuriously saturated earthy colours and a great tile can definitely create an elevated bathroom.

The colours we’re seeing this year, not just for paint but also for tile, lighting, hardware and accessories, are warm and earthy. Deep greens, sultry blues, cosy and inviting neutrals and, of course, this year’s Pantone Colour of the Year, Peach Fuzz. These colours, especially peach, exude a sense of warmth, nurturing and comfort, all vital when creating your spa and wellness space.

Tiles this year boast great textures, shapes and rich colours. Introduce some dimension to your space with 3D tiles, geometric patterns or for a bit more of a subtle approach, the texture of hand-made tiles adds an artisan touch to your walls, elevating it from a simple subway tile. And speaking of subway tile, change your approach from the simple traditional brick pattern to the more modern vertical or horizontal stacked tile.

Another great trend I love is tiling more than just your shower area.

Think outside the box when designing your space, and don’t restrict your tile to just your shower or tub area – entire tiled walls can add a dramatic touch to a simple bathroom.

Richness and boldness are two adjectives that can be used to describe bathrooms this year. We’re seeing lots of bold, impactful stone accents, custom millwork and

elegant wallpapers. We’re being more creative, thoughtful and artistic when it comes to bathroom design, just as we would when designing some of the more prominent spaces in our homes like the kitchen. We are looking to incorporate luxury features, unique lighting, custom drapery, carving out distinctive zones, adding curated art and accessories all in an effort to create a space that promotes functionality, but also let us wind down at days end.

Whether large or small, so many of these trends can be incorporated in your bathroom this year, regardless of whether you’re planning a large overhaul of your space, or just looking for a quick refresh to get you by. Our bathrooms are no longer just a functional space. Think about creating a space not just for wellness, healing and relaxation at the end of a long day, but also to make you inspired and happy in the mornings.

Linda Mazur is an award-winning, nationally publicized designer and Principal of Linda Mazur Design Group. With almost two decades of experience this in demand multi-disciplinary design firm is known for creating relaxed, stylish spaces and full-scale design builds within Toronto, the GTA and throughout Canada. lindamazurdesign.com @LindaMazurGroup nexthome.ca 37

INSPIRATION |

Create your

decor trends

‘art’of

own interior masterpiece

The

design

D

by BILHA KANGETHE

esigning interiors is akin to creating art; you’re painting with textures, materials and layers, ensuring that each element seamlessly combines to become a cohesive and inviting masterpiece. Cosy spaces are especially artful, as they embody warmth, comfort and security. In a world that buzzes with motion, it’s heartwarming to know that at the end of the day, your intimate space awaits to provide solace, wrapping around you in a warm hug.

Let’s embark together on this journey to explore how you can design your own cosy interior, the significance of materials, layers and textures, and some notable 2024 trends to inspire you along the way.

Materials ● ● ● The materials you select will influence the aesthetic, mood and functional properties within a space. Ideally, it’s best to strike a balance between soft fabrics for drapes, cushions,

38

rugs and linens, with natural materials such as wood and stone. This balance enhances comfort, adds warmth and contributes to the tactile experience of a room. To achieve this balance: • Incorporate elements such as wood for floors or furniture, stone for fireplaces, and wool in the form of soft rugs for an organic, earthy feel.

• For that plush, cosy sensation, think velvet sofas, cashmere blankets and chenille cushions.

• To create harmony, place a rug underneath furniture or on the floor, add drapery to your windows or on a wall.

Layering ● ● ● Layering isn’t just for fashion; it adds depth and richness to interiors. It involves strategically placing various elements on top of each other to create interest and balance. When done correctly, the result is a rich, harmonious and cosy space. However, not everything needs to be layered. Some items or areas can stand alone as a focal point, so the room doesn’t feel overly busy. Layering techniques: • Begin with a neutral base, often the largest items such as a sofa or main rug, and then add layers.

• If you’re layering cushions, combine different sizes, shapes,and fabrics to create visual interest without overwhelming the space.

• Ensure that each layer has a purpose. Whether it’s a throw blanket or a decorative piece, avoid clutter by making sure each item serves a function or enhances the decor.

• Allow breathing room into your design. Every area doesn’t need to be filled or layered. Negative space can provide visual relief and balance.

final varnish. When infused with love, intent and personal touches, our spaces become more than just rooms; they become stories, each corner narrating tales of warmth, comfort and soulful embraces. The trends of 2024 further emphasize this, encouraging you to merge nature, history, and functionality to craft spaces that aren’t just aesthetically pleasing, but soul-soothing, too.

• Connect with nature indoors using green walls, indoor plants, and maximizing natural light.

• Flexibility is key, with spaces transforming from functional workspaces by day, to cosy reading corners in the evening.

• Mix eras by blending vintage pieces with modern designs for a timeless ambience.

• Sustainable choices such as reclaimed wood or upcycled furniture infuse interiors with character and consciousness.

The end game ● ● ●

• Layering is often about trial and error. Don’t be afraid to edit, remove, or rearrange layers until you achieve the desired look and feel.

You don’t need to overhaul your entire interior to align with trends. Often, subtle incorporations and additions can effectively capture the zeitgeist. Regardless of how you decide to create your interior masterpiece, don’t forget to inject your unique story, memories and personal style into your space.

Textures ● ● ● Tactile variety stimulates your sense of touch and sight. The following are some ways to add texture to your space: • Cosy spaces benefit from soft textures, while formal spaces might lean on harder, sleeker materials.

• Pair a plush rug with a sleek leather sofa or a raw wood table with smooth, satin chairs to strike a delightful balance.

• If introducing various textures, they should complement each other. A room with rustic wood beams can still feature a sleek marble table, tied together by a colour palette or stylistic elements.

• A room shouldn’t be overwhelmed by one texture. If you have a large leather sectional sofa, consider varying the look with curtains, cushions and rugs in softer fabrics.

• Textures aren’t just tactile; they’re also visual. A patterned wallpaper can work wonders to break the monotony of a room. However, if using multiple patterns, they shouldn’t clash.

2024 trends ● ● ● In the grand tapestry of design, materials act as the paint, with layering as the brush strokes and textures as the

CREDITS: Living room, coffee table, bedroom and accent chair from The Lifestyle Loft.

Bilha Kangethe is the founder and creative director of The Lifestyle Loft. As a certified designer and interior decorator, she has created a company that focses on the needs of each client and customer and helps them curate a lifestyle that is comfortable and economical. thelifestyleloft.com

nexthome.ca 39

INSPIRATION |

home finds

LIVING etc.

by SARA DUCK

Inspiring home products and decor trends for the new season Elevate your interior aesthetics with the timeless sophistication of a wool rug.

Tufted wool RUG. $449. hm.com

40

WOOL RUGS This versatile design element easily blends comfort and style, offering a luxurious tactile experience underfoot. Beyond its plush texture, a wool rug brings a natural warmth to any space, creating a harmonious balance in contemporary or traditional decor schemes. Renowned for its durability, a wool rug not only withstands the test of time, but also resists stains and retains its vibrant colours.

Choose from a spectrum of patterns and textures to effortlessly infuse your living space with a touch of understated elegance.

1. DEJRET hand-made rug in beige. $400. ikea.ca 2. STONE TILE rug. From $149. westelm.ca 3. BOVI rug in pearl blue. $399. article.com 4. FINN hand-knotted wool rug. From $1,135. potterybarn.ca

1

2

3

4

Decor BOOK

Farrow & Ball’s latest decor tome, How to Redecorate by Joa Studholme and Charlotte Cosby, aligns timeless advice with current trends, adapting to the demands of the home-working age.

This updated edition encapsulates the transformative evolution witnessed in home design over the past decade. From chic city apartments to more spacious country retreats, the book showcases diverse living spaces with inspiration on how to decorate your home with ease. $46. amazon.ca nexthome.ca 41

PANTONE COLOUR OF THE YEAR:

1

Peach Fuzz Pantone has released its colour of the year, and it’s just peachy! Peach Fuzz embodies our desire for selfcare and connection. This gentle, velvety peach tone seeks to enrich mind, body and soul. “In looking for a hue that echoes our innate yearning for closeness and connection, we chose a colour radiant with warmth and modern elegance, a shade that resonates with compassion, offers a tactile embrace, and effortlessly bridges the youthful with the timeless,” says Leatrice Eiseman, executive director at the Pantone Color Institute.

2

Peach fuzz tion inspira 8

7

3 6

4 5

1. Dusty peach woven SHOULDER BAG. $50. winners.ca | 2. Norika fabric modular SOFA in orange. $3,199. mobilia.ca | 3. Noira PRINT on canvas. $259. mobilia.ca | 4. Shade slick-tinted LIP OIL in Jete. $33. meritbeauty.com | 5. For a near-perfect match, look no further than FADED TERRACOTTA NO. CC8 by Farrow & Ball, a soft, pale orange inspired by the shade of terracotta pots and tiles baked under the California sun. | 6. Artisan series five-quart tile STAND MIXER by KitchenAid. $733. bedbathandbeyond.ca | 7. Round woven PLACEMATS. $17 (set of six). homesense.ca | 8. Ora blush dinner PLATE. $27. crateandbarrel.ca | 42

HOMES Magazine |

Feb. 24–March 23, 2024

Healthy LIVING Fluted design

A global leader in innovative and sustainable surfaces, Cosentino has collaborated with acclaimed interior and product designer, Claudia Afshar, to create the Ukiyo collection. Boasting textured and linear fluting, the Ukiyo collection is available in five colourways (from dark gray to cream and terracotta shades) durable, ready-to-install fluted tiles – one of the first offerings of its kind in the industry. cosentino.com

Is it your goal to eat more fruits and veggies this year? I hear you! Boost your fruit and veggie intake with the Easy Clean juice extractor from Hamilton Beach.

Create a fresh, healthy juice in seconds with a chute that fits whole foods, cutting down on prep time and making it easier than ever to add more fruits and veggies to your diet for a healthier lifestyle. The machine also has dishwasher-safe parts. $120. bestbuy.ca

PET FRIENDLY Keep your space looking stylish while keeping your fur babies comfy with these cool beds. zarahome.com STRIPED pet cushion. $109.

FAUX SHEARLING pet bed. From $159.

RATTAN pet bed. From $189.

SEAGRASS pet bed. $100. nexthome.ca 43

HOT PROPERTIES | GTA

10

9

11

FIND YOUR NEXT HOME

16

The latest properties in the Greater Toronto Area to keep your eye on AJAX

CALEDON

1. A Towns

9. Palgrave Estates

MARKHAM/ UNIONVILLE

Bayly St. E. & Salem Rd. S. fieldgatehomes.com

Mount Pleasant Rd. & Hunsden Rd. flatogroup.com

17. Cornell Markham Bur Oak Ave. & Hwy 7 ballantryhomes.com

10. Pathways Caledon East

18. Upper East Side Unionvillle

Old Church Rd. & Innis Lake Rd. flatogroup.com

Major Mackenzie & Woodbine fieldgatehomes.com

11. Highlands Caledon East

Ninth Line & 14th Ave. flatogroup.com

AURORA 2. Queen’s Grove Collection Yonge St. & Bloomington Rd. northstarhomes.com

3. Allegro 36 Klees Cres. geranium.com

BRAMPTON

22 McKee Drive, Caledon dunsire.com

4. DUO Condos

CLAIREMONT

245 Steeles Ave. W. duocondos.ca

12. Cresthaven Estates

5. Spring Valley Village Bovaird Drive W. & Elbern Markell Drive ballantryspringvalley.com

6. Three Rivers Claireville

ETOBICOKE 13. Lake & Town Islington Ave. & Lake Shore Blvd menkes.com

Goreway Dr. & Humberwest Pkwy nationalhomes.com

14. Boutique Towns

7. Queens Lane Townhomes

15. The 900 Condo Signature Residences

80 Thirtieth St. dunparhomes.com

Mississauga Rd. & Queen St. branthavenbrampton.com

900 The East Mall 9hundredcondo.ca

BRANTFORD

KLEINBURG

8. Brant West

16. New Impressions

501 Shellard Lane losanihomes.com

44

Brock Rd & Central Street

HOMES Magazine |

Hwy. 27 & Major McKenzie Dr. W. fieldgatehomes.com

Feb. 24–March 23, 2024

6 15

19. Riverwalk Meadows 5

20. Angus Glen South Village

7

4

9980 Kennedy Rd., #200. kylemorecommunities.com

21. Kennedy Manors 4500 Major Mackenzie Dr East. kylemorecommunities.com

OSHAWA 22. Dreamscape

8

Conlin Rd. & Harmony Rd. fieldgatehomes.com

23. Park Ridge Conlin & Townline Rds. tributecommunities.com

RICHMOND HILL

PICKERING

25. Richlands

24. Seaton 1075 Taunton Rd. fieldgatehomes.com

Leslie St. & Elgin Mills Rd. fieldgatehomes.com

26. Millbrook Park Elgin Mills & Leslie St. northstarhomesinc.com

27. Park Lane Place Elgin Mills & Leslie St. northstarhomesinc.com

28. Observatory Hill Bayview Ave. & 16th Ave. myobservatoryhill.ca

29. King East Estates King Rd. & Toscanini Rd. pureplaza.com

SCARBOROUGH 30. 670 Progress Ave. Progress Ave. & Grangeway Ave. fieldgateurban.com

12 3 35 2

29

22 23

36

19

25 21

26 27

18

17

20

34 24

28

33

1

30

31

CARTOGRAPHY: MARKETMAPS.COM

32

14 13

TORONTO

THORNHILL

31. Lambtown Towns

33. Citylux Towns at Thornhill Woods

2650 St. Clair West dunparhomes.com

32. 2650 St. Clair Ave W. 2650 St. Clair Ave W dunparhomes.com

WHITECHURCH/ STOUFFVILLE 35. Blue Sky

Dufferin St. & Rutherford Rd. fieldgatehomes.com

9th Line & Millard St. fieldgatehomes.com

WHITBY

36. Cityside Stouffville

34. Country Lane Taunton Rd. & Country Lane countrylanewhitby.com

10th Line & Main St. Stouffville fieldgatehomes.com

+

BUILDERS IF YOU WOULD LIKE TO INCLUDE YOUR PREVIEW REGISTRATION, NEW RELEASE OR SITE OPENING IN THIS FEATURE, JUST EMAIL THE DETAILS TO EDITORIAL@NEXTHOME.CA

nexthome.ca 45

HOT PROPERTIES | SOUTHWESTERN ONTARIO AREA

FIND YOUR NEXT HOME 1. Northshore Condo 484-490 Plains Rd. E. nationalhomes.com

2. Tyandaga Heights Burlington nationalhomes.com

11. Liberty Crossing

24. Joy Towns

Wonderland Rd. S. & Hamlyn St. sifton.com

Niagra branthaven.com

12. Middleton

Ontario St. & Drake Losanihomes.com

Wharncliffe Rd. & Exeter Rd. sifton.com

13. RiverBend Golf Community

GRIMSBY 3. Grimsby Waterfront 398 N Service Rd. losanihomes.com

2200 Jack Nash Dr. sifton.com

14. Rosewood

HAMILTONWENTWORTH 4. Soho Homes at Barton & Glover

Nissouri Rd. & Thorndale Rd. sifton.com

MILTON 15. The Valleylands

Barton St. & Glover Rd. losanihomes.com

Mayfield Rd. & Chinguacousy fieldgatehomes.com

16. Hawthorne Park 5. Highland Park Oakwood Dr. & Byron Ave. &Central Park: Midtown sifton.com & Soho Upper Red Hill Valley Pkwy & 17. Thompson Towers Thompson Rd. S & Drew Centre thompsontowers.ca

Rymal Rd. losanihomes.com

INGERSOL

MISSISSAUGA

6. HarrisView

18. Whitehorn Woods

34 Hollingshead Rd. sifton.com

KITCHENER/ WATERLOO 7. Wallaceton Huron Rd. & Fischer-Hallman heathwood.com

LONDON

1240 Britannia Rd. W. nationalhomes.com

19. Streetsville Centre Mill St. & Queen St. S. dunparhomes.com

NIAGARA REGION

20. Portview Estates 8. Victoria On The River Simcoe St. & Canal St. Sheffield Blvd. & Commissioners Rd. E. sifton.com

silvergatehomes.com

21. Luna

9. Caverhill Clarke Rd. & Kilallay Rd. sifton.com

10. Hudson Park

Hwy. 406 & 56, Thorold silvergatehomes.com

22. Harbourtown Village

Fort Erie Colonel Talbot Rd. & Pack Rd. silvergatehomes.com sifton.com

23. Hazelwood on the Grand Hardy Rd. sifton.com

46

HOMES Magazine |

Feb. 24–March 23, 2024

Guelph

Waterloo Kitc7hener

The latest properties in the Southwestern Ontario Area to keep your eye on BURLINGTON/ WATERDOWN

54

KITCHENER–WATERLOO

Cambridge

25. Bench Mark

22

OAKVILLE

47

26. The Greenwich at Oakvillage Trafalgar Rd. & Dundas St. East branthaven.com

27. Bronte Meadows

51

Bridge Rd & Warminster Dr. flatogroup.com

28. Upper West Side Condos 2 351 Dundas St. East branthaven.com

29. Trafalgar Ridge River Oaks Blvd. & Namron Gate dunparhomes.com

30. The Villages of Oak Park Trafalgar Rd. & Dundas st. E. ballantryhomes.com

31. West & Post 2714 Westoak Trails Blvd. branthavenoakville.com

PARIS 32. Boulder Creek Cleaver Rd. & King Edward St. sifton.com

33. Riverbank Estates Nirh River losanihomes.com

6

37. Woodview at Vista Ridge

44. Village on the Twelve

4008 Mountain St., Beamsville losanihomes.com

21 Willow Bank Common St. silvergatehomes.com

38. Bromley Gardens

300 Daimler Pkwy., Welland lucchettahomes.com

ST. THOMAS

15 Cricklewood Cres., Nanticoke sheltercove.ca

39. Harvest Run Centennial Parkway & Elm Street dougtarryhomes.com

STONEY CREEK 40. Sweetberry Barton & Glover sweetberrytowns.ca

41. Davis Heights

Lincoln Ave. & King St. losanihomes.com

35. Lusso Urban Towns

42. The Residences at Hunters Pointe

36. Merritton Mills St. Catharines silvergatehomes.com

45. Riverside at Hunter’s Point

20 Bromley Drive, St. Catharines Dunsire.com

1535 Haist St, Pelham lucchettahomes.com

Martindale Rd. & Grapeview Dr, St. Catharines lucchettahomes.com

48

39

ST. CATHARINES WELLAND 34. Lincoln Estates

52

Brantford

71 Kyntre Trail lucchettahomes.com

43. Edgewater Trails Daimler Pkwy & Magnolia Ln, ballantryhomes.com

46.Shelter Cove

WEST REGION 47. St. George Village

52. Knightsbridge Graff Ave. & Mornington St. sifton.com

53. Cottonwood Dingle St. sifton.com

54. Edgewood Suites 270 Hagan Street East, Dundalk flato.com

55. Discoverie Condos 7 Central Ave Fort Erie DiscoverieCondos.ca

Concession 2 & Woodhill Rd. losanihomes.com

48. Brant West 562 Shellard Ln losanihomes.com

49. Magnolia Trails Modeland Rd. & Michigan Lane sifton.com

50. Soleil St. Clair Corunna sifton.com

51. Expressions & Riverbank Estates 1021 Rest Acres Rd., Paris losanihomes.com

46

19

LONDON

Milton

CARTOGRAPHY: MARKETMAPS.COM

Mississauga

18

14

9 26 30

15 17

43

29 31

27

13

Oakville

16

London

28

8 12 50

11 10

49

2

Burlington 1

53

Hamilton 4 40

38

3 5

25 34

37

21 20

32 35

St Catharines

36 34

Niagara Falls

21 23 44

31 41 42 45

33

Welland 55

nexthome.ca 47

HOT PROPERTIES | OUT OF TOWN Youngs Point

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St

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22. Emerald Crossing Hwy. 89 & Hurontario St. fieldgatehomes.com

St

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20 21

CARTOGRAPHY: MARKETMAPS.COM

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Tele

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19

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S e St Hop King St

425 King St. E. masonhomes.ca 82 Hillcrest Road, Port Colborne dunsire.com

1224 Chemong Rd. masonhomes.ca

Rd

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1800 2nd Ave. E. flatogroup.com

20. Kingswood Cobourg

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17. Greystone Village

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treasurehill.com

415 Lakeshore Rd. masonhomes.ca

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19. Port Hope Lakeside Village

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HOMES Magazine |

r s St

48

oge rmour RRd

Prestonvale Rd. & Bloor St. nationalhomes.com

Rd low dfel Goo

10. The Vale

N

COURTICE

N

georgianinternational.ca

3246 Line 9 North georgianinternational.com

d an R agh M on

12. Edgewood Suites

41 Main St. W. flatogroup.com

ve

CAMBELLFORD

5. GreenRidge & Beeton 9. Collingwood Village Maple & Sixth Street

Bar

2. Midhurst Valley

14. Braestone Horseshoe Valley

Dr allis

flatogroup.com

BEETON

k St P ar

Hwy. 10 & Main St. East flatogroup.com

Mountain Rd. & Crosswinds Blvd. georgianinternational.com

Dr ood

Hwy 7A & Ski Hill Road BethanyVillage.ca

Horseshoe Valley Rd. & Hwy. 93 georgianinternational.com

W

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Dr

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410 Yonge Street masonhomes.ca

Hwy 26 & Bayfield Rd. Brookfieldhomes.ca

Line

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Forest Hill Rd. & Riverside Trail sifton.com

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270 Hagan St. E., Dundalk edgewoodsuites.ca

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FIND YOUR NEXT HOME ti Pale s

A TREE FOR EVERY HERO.

Join us in planting 2 million trees along the 401 Highway of Heroes, a tribute to the men and women who fought for Canada in our wars, and a living memorial to the 117,000 who died for freedom.

Get involved today:

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ADVICE | INDUSTRY REPORT

2024 WILL BE A PIVOTAL YEAR FOR HOMEBUILDING IN THE GTA

DAVE WILKES

As 2024 begins, we are at a pivotal moment in the debate on housing and employment space supply and affordability in the Greater Toronto Area and Ontario, with new housing and employment space being buffeted by a number of often countervailing forces.

Last year will go down as one of the worst years on record for new home sales in the GTA. Housing starts follow sales, and with low sales, we can expect to see new housing starts dip, which will negatively affect future supply at the very time we will need it the most.

As population expands rapidly, we must have concerted action to make sure the region gets the supply it needs.

First, interest rates have to moderate. The rapid run up in interest rates, as the Bank of Canada fights inflation, is causing many prospective new-home buyers to sit on the sidelines. It is also making it more difficult to finance new projects. This is cutting off the lifeblood of the industry and new supply will suffer as a consequence.

Second, there needs to be predictability and stability in the regulatory environment for new homes and land supply. While there has been tremendous progress in modernizing the regulatory framework to support the provincial 50

HOMES Magazine |

Feb. 24–March 23, 2024

objective of building 1.5 million new homes, more needs to be done.

Third, we need a renewed focus on supportive infrastructure. There are many areas across the GTA where constraints in infrastructure, such as sewer capacity, electrical infrastructure and the like, are limiting the ability to build housing in a timely manner. Addressing this is costly and cannot be done solely by municipalities, nor by loading all the cost on the backs of new-home buyers. We must recognize that a new funding model for housing supportive infrastructure is crucial to achieving the objectives of added supply and increased affordability in the province.

Last, as identified in multiple BILD municipal benchmarking studies, lengthy approvals for new housing

projects in the GTA are among the worst in North America and add tens of thousands of dollars to the cost of a new home. Cutting red tape and speeding up the approvals of new homes must be prioritized to unlock the housing this region desperately needs.

Dave Wilkes is President and CEO of the Building Industry and Land Development Association (BILD), the voice of the homebuilding, land development and professional renovation industry in the GTA. For the latest industry news and new home data, follow BILD on Twitter, @bildgta or visit bildgta.ca.

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