GTA Condo Life - July 15, 2023

IN YOUR DREAMS

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GOT 15 MINUTES?

Have you got 15 minutes? Actually, reading this column will take far less than that, but please bear with me.

Just when homebuyers thought it was safe to emerge from the sidelines (as new and resale market statistics for the last couple months have shown), with interest rates, inflation and other market factors seemingly improving... The Bank of Canada on June 7 went ahead and raised its influential overnight rate target to 4.75 per cent. The rate had sat at 4.50 per cent since January, after BoC made four consecutive increases since July 2022.

Now what?

Well, the hike may have surprised some, but many in the real estate industry were expecting it, if not bracing for it.

For homeowners with a variable mortgage, this means their monthly payments may go up, and for others, their amortization may increase, according to Jesse Abrams, co-founder at Homewise, a mortgage advisory and brokerage firm. Those renewing their mortgage this year could see their fixed and variable rates rise even higher, he says.

“For potential homebuyers, we’ve seen supply steadily increase recently, so this could lead to more of a buyers’ market, if some of the demand slows,” Abrams, told Condo Life magazine.

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Life Magazine

EMAIL: wayne.karl@nexthome.ca

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“Overall, this was a move that may lead to short-term pain, but seems necessary in the long term. My one hope is that our government pairs this with policy changes to help builders offset some of their costs, as these rate increases affect their ability to add more homes to the housing pool. As builders’ costs go up, they push development dates down the road until friendlier environments are available for them to borrow for their builds.”

The key takeaway for prospective borrowers in this rate environment is to shop around for your mortgage, to find the best rate and features to suit your needs.

Now for those 15 minutes…

For those who may fear the concept, thanks to online conspiracy theories, so-called 15-minute cities or neighbourhoods are actually part of the solution to increasing sustainable, accessible and affordable housing in Ontario and elsewhere in Canada.

As our story on page 15 discusses, a report from ReMax Canada explains that the “15-minute neighbourhood” is an urban planning concept that puts daily necessities within a 15-minute walk, bicycle or transit ride from home. As we grapple with a housing crisis rooted in a persistent inventory shortage, that sounds like a reasonable and commendable objective, and one definitely worth your 15 minutes.

PERSONAL FINANCE | JESSE ABRAMS

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

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

WESTERN VIEW | MIKE COLLINS-WILLIAMS

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

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

REAL ESTATE PRO | BARBARA LAWLOR

Barbara Lawlor is President and CEO of Baker Real Estate Inc., and an indemand columnist and speaker. A member of the Baker team since 1993, Barbara oversees the marketing and sale of condo developments in Canada and overseas. baker-re.com

STAT CHAT | BEN MYERS

Ben Myers is President of Bullpen Consulting. Ben provides pricing recommendation, product mix, and valuation studies on new residential housing developments for builders, lenders and property owners. bullpenconsulting.ca

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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Jesse Abrams, Paul Baron, Mike Collins-Williams, Debbie Cosic, Sara Duck, Barbara Lawlor, Linda Mazur, Ben Myers, Lisa Rogers, Jayson Schwarz, Sarah St. Armand, Dave Wilkes

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GTA NEW HOME MARKET GAINS MOMENTUM IN MAY

The GTA new home market gained momentum in May, registering the first year-over-year increase in more than a year, the Building Industry and Land Development Association (BILD) reports.

There were 3,109 new home sales in May, which was up 22 per cent from May 2022 and 10 per cent below the 10-year average, according to Altus Group, BILD’s official source for new home market intelligence.

Condominium units, including in low-, medium- and highrise buildings, stacked townhouses and loft units, accounted for 1,976 units sold in May, down three per cent from May 2022 and 14 per cent below the 10-year average.

There were 1,133 single-family home sales in May, up 123 per cent from May 2022 and three per cent below the 10-year average. Singlefamily homes include detached, linked, and semi-detached houses and townhouses (excluding stacked townhouses).

“The GTA new home market has regained some of its strength in the last couple of months, proving that demand in the region hasn’t gone anywhere,” says Dave Wilkes, BILD president and CEO. “If that demand is to be met with the housing supply and choice that residents need, all levels of government must make housing a priority. The provincial

government has set the framework to support the building of 1.5 million new homes within a decade, and we are heartened to see the efforts many GTA municipalities are making toward implementing policies that will make it easier to add housing. We would like to see the federal government do its part by enabling housingsupportive infrastructure and being mindful of the impacts of monetary policy on new-home buyers.”

“GTA new home sales climbed higher in May as buyers grew accustomed to current market conditions,” adds Edward Jegg, research manager with Altus Group. “Builders have been replenishing supply and benchmark prices have softened.”

May’s total new home remaining inventory, which includes units in

preconstruction projects, in projects currently under construction, and in completed buildings, was 15,346 units. Thanks to 13 highrise project openings, remaining inventory included 13,867 condominium apartment units. This represents approximately 13 months’ worth of inventory, based on average sales for the last 12 months. The remaining inventory for single-family homes was 1,479 units, representing approximately 4.5 months’ worth of inventory. A balanced market has nine to 12 months of inventory.

The benchmark price for new condominium units was $1.09 million, which was down 6.7 per cent over the last 12 months. The benchmark price for new single-family homes was $1.73 million, which was down 4.3 per cent over the last 12 months.

MAY NEW HOME SALES BY MUNICIPALITY

MARKET CONDITIONS TIGHT IN JUNE, TRREB URGES GOVERNMENT ACTION ON HOUSING SUPPLY

Home sales and the average selling price in the GTA in June 2023 remained above last year’s levels, the Toronto Regional Real Estate Board (TRREB) reports. Seasonally adjusted sales dipped on a month-over-month basis, while the seasonally adjusted average selling price and the MLS Home Price Index (HPI) Composite benchmark were up compared to the previous month.

“The demand for ownership housing is stronger than last year, despite higher borrowing costs,” says TRREB President Paul Baron. “Home sales were hampered last month by uncertainty surrounding the Bank of Canada’s outlook on inflation and interest rates. Furthermore, a persistent lack of inventory likely sidelined some willing buyers because they couldn’t find a home meeting their needs. Simply put, you can’t buy what is not available.”

GTA realtors reported 7,481 sales through TRREB’s MLS system in June 2023 – up 16.5 per cent compared to June 2022. The number of listings was down by three per cent over the same period.

The year-over-year increase in sales, coupled with the decrease in new listings, mean market conditions were tighter this past June relative to the same period last year. The average selling price was up by 3.2 per cent to $1.18 million. The MLS

HPI Composite benchmark was still down by 1.9 per cent on a year-overyear basis – the lowest annual rate of decline in 2023.

“A resilient economy, tight labour market and record population growth kept home sales well above last year’s lows,” says TRREB Chief Market Analyst Jason Mercer. “Looking forward, the Bank of Canada’s interest rate decision this month and its guidance on inflation and borrowing costs for the remainder of 2023 will help us understand how much sales and price will recover beyond current levels.”

“GTA municipalities continue to lag in bringing new housing online at a pace sufficient to make up for the current deficit and keep up with record population growth,” adds

TRREB CEO John DiMichele. “Leaders at all levels of government, including the new mayor-elect of Toronto, have committed to rectifying the housing supply crisis. We need to see these commitments coming to fruition immediately, or we will continue to fall further behind each month.

“In addition to the impact of the listing shortage, housing affordability is also hampered on an ongoing basis by taxation and fees associated with home sales and construction, as well as the general level of taxation impacting households today. Going forward, we need to look at all of the factors influencing the household balance sheet and people’s ability to house themselves,” says DiMichele.

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TORONTO MAYOR-ELECT CHOW NEEDS TO TAKE IMMEDIATE ACTION ON HOUSING: BILD

The Building Industry and Land Development Association (BILD) congratulates Olivia Chow on the June 26 by-election victory, and offers to work with the mayor-elect to find ways to achieve more housing supply and improved affordability in Toronto.

“During the campaign, poll after poll demonstrated that housing was a key issue for voters,” says Dave Wilkes, president and CEO of BILD. “It is widely acknowledged that the housing affordability crisis in Toronto is the consequence of inadequate housing supply. This is a policydriven problem and is therefore

fixable. However, time is of the essence, given the rate of population growth in the GTA.”

To support the province’s objective of enabling the building of 1.5 million new homes by 2031, Toronto must deliver 285,000 new homes within the same period – approximately double the rate of the previous decade. The city also needs to address its deficit of rental housing supply, which will reach 84,000 units in the next 10 years unless action is taken. Policy changes would help increase supply and improve affordability in the city and in the province and enhance livability and support equality for all Torontonians. To achieve these goals, mayorelect Chow will need to maintain a resolute focus on housing, BILD says.

Throughout the by-election campaign, BILD encouraged candidates to focus on measures that will speed up the approvals process, cap municipal fees added to new homes, use land more efficiently and build housing-supportive infrastructure. These measures are set out in greater detail in the Housing Policy Recommendations

that BILD released during the campaign. If implemented, they would help speed up the addition of new housing supply and increase availability and choice.

Following the election, BILD says it has already sent mayor-elect Chow a letter requesting an opportunity to meet at her earliest convenience to start the vital work of changing the culture and processes at City Hall so members can get on with building housing for the new-home buyers and renters looking to call the city of Toronto home.

“BILD’s 1,200 member companies build or support the building of virtually every new home in Toronto,” says Wilkes. “This means the association and its members are experts uniquely positioned to assist the mayor-elect with recommendations on how to resolve the bureaucratic quagmire at City Hall that is inhibiting new housing supply. As companies based in the GTA, BILD members have a vested interest in ensuring adequate housing supply for the social and economic vitality of Toronto and the region.”

15-MINUTE NEIGHBOURHOODS DELIVER MORE ACCESSIBLE AND AFFORDABLE HOUSING: REPORT

As Canada continues to grapple with a housing crisis rooted in a persistent inventory shortage, ReMax Canada explores possible solutions in its latest report, 15-Minute Neighbourhood: Lessons for Small Communities.

The report, exploring the urban planning concept that puts daily necessities within a 15-minute walk, bicycle or transit ride from home, attempts to highlight supply of housing for the greatest number of Canadians, in a way that delivers maximum livability and affordability –particularly in smaller municipalities that are experiencing rapid growth.

“Private and public interests must coalesce to make what seems visionary to some, tangible for all,” says Christopher Alexander, president of ReMax Canada. “By rethinking the design, relevant government policies and zoning bylaws applicable in our neighbourhoods and integrating all the complex layers within existing developed land areas, we can achieve a more effective and comprehensive national housing strategy.”

“Without schools, libraries, small businesses, enterprise and greenspaces, as well as accessible and diversified transportation, the home becomes empty inventory,” adds Elton Ash, executive vicepresident of ReMax Canada. “

According to a Leger survey commissioned by ReMax Canada as part of the report:

• Canadians ranked “lack of available and accessible transit options,” among their top three pain points in their communities (34 per cent).

To further supplement, non-drivers are more likely to agree that the 15-minute concept is achievable and feasible (59 per cent) compared to drivers (45 per cent).

• 48 per cent of respondents agree that the concept is achievable and

feasible, particularly non-drivers (59 per cent, vs 45 per cent of drivers).

In addition, 54 per cent believe that (a) their neighbourhood needs better diversity and balance across walking, biking, public transportation and driving, and that (54 per cent) (b) the 15-minute neighbourhood would help Canada reach its climate goals (54 per cent).

• 72 per cent of respondents agree that reducing commuting time to 15 minutes or less for necessary services, such as work, appointments, childcare, restaurants, entertainment and shopping, would improve one’s quality of life. Traffic volume (44 per cent) and lack of available and accessible transit options (34 per cent) are also pain points for Canadians.

“We agree that Canada needs to invest in building a lot more homes in the next decade, but it must be the right kind of housing within the context of the wider neighbourhood, its socioeconomic diversity, and indeed with climate as a constant potential disruptor,” says Alexander.

KEY FINDINGS IN THE REPORT

Diversity within densification: We should be considering how we can create a variety of types of homes and sizes within each neighbourhood (high-, midrise, semi-detached and the “missing middle”).

Hard and soft infrastructure are non-negotiable elements of the 15-minute neighbourhood: For 15-minute neighbourhoods to reach the ideal they aspire to, the proper soft and hard infrastructure will need to be in place – these are the systems that allow communities to thrive and quality of life to flourish.

Transform empty space into productive, residential communities: There is an

opportunity amid the decline of commercial real estate space, empty retail space and especially parking lots to transform them into residential dwellings. in collaboration with relevant area experts. For this to happen, governments must reduce red-tape by expanding zoning laws and incentivize developers to use this real estate.

Balance in transportation: Car has become king and over-reliance on vehicles has fed urban sprawl, leading to a poor use of space. This has negative long-term impacts on the environment, as well as the physical and mental health of Canadians. Cities should be designed to encourage and foster the use of various modes of transportation, by accounting for bike lanes on all major streets; implementing fast and accessible public transportation; and building walking paths/sidewalks throughout neighbourhoods. Offering a mix of housing: For cities to avoid falling into the trap of gentrification and ensure equitable housing, a mix of housing needs to be incorporated. Within each neighbourhood there should be a balance between market housing, subsidized housing, mixed-income housing and co-ops.

BUILDER WARRANTIES TOP OF MIND FOR 55 PER CENT OF NEW-HOME BUYERS

A report from Ontario’s new home warranty provider indicates that new-home buyers are concerned about their builder warranty, among other issues.

Tarion, an independent consumer protection organization that administers Ontario’s new home warranty program, has launched the Tarion New Home Buyers Report, drawing a detailed portrait of Ontarians buying new homes. Designed as an evidence-based consumer education resource, the report puts a spotlight on new-home buyers – who they are,what they are looking for and how they prepare for one of life’s biggest purchases.

“The Tarion New Home Buyers Report reveals what’s important to these future purchasers and their families to make effective decisions,” says Peter Balasubramanian, president and CEO, Tarion.

Based on an online survey of 526 Ontarians, the report shows that, when preparing to buy a home, respondents most commonly report having looked through home listings online (60 per cent), discussed their financial situation with a financial advisor or professional (53 per cent) and met with a real estate agent (50 per cent). Three in 10 (31 per cent) have obtained a mortgage pre-approval; 28 per cent have visited a pre-construction site or showroom.

The sample analyzed in the report reflects the diversity of Ontario’s population:

IMMIGRANTS AND NEW CANADIANS

• More than one-third (35 per cent) of Ontarians intending to purchase new homes were born outside Canada

• These buyers are already established in Canada, having spent here on average 17 years since their immigration

• 39 per cent immigrated to Canada less than 10 years ago

FIRST-TIME VERSUS REPEAT BUYERS

• One-third (35 per cent) of respondents are first-time home buyers; the remaining two-thirds (65 per cent) are repeat buyers

• First-time buyers are more likely to be millennials (46 per cent), single (54 per cent), considering buying a condo (42 per cent) or townhome (43 per cent), and newcomers who arrived in Canada within the past 10 years (74 per cent)

• Most repeat buyers are baby boomers (86 per cent) and are married or in common-law relationships (69 per cent)

MILLENNIAL BUYERS

• Overall, 54 per cent of Ontarians shopping for new homes are millennials

• Millennials are more likely to consider pre-construction homes (81 per cent)

• Millennials are more likely to consider a home in urban areas (63 per cent)

“One insight that stands out in the Tarion New Home Buyers Report is that immigrants and new Canadians are a large part of Ontario’s new homes story,” says David MacDonald, group vice-president, financial services, at Environics Research Group, who led the survey work. “It’s also interesting that, while intenders are a diverse group with many different journeys, the demographic getting into the new homes market is fairly young overall.”

WHY ARE ONTARIANS BUYING NEW?

The report sheds light on what motivates Ontarians in their new home journeys. Most (84 per cent) anticipate using the new home as their primary residence. Nearly six in 10 (58 per cent) like having the option to rent all or part of the home; 15 per cent consider using it as an investment property’ and 72 per cent value the possibility to work from home.

Top factors in choosing a new home include home size and space (98 per cent), price (98 per cent), energy efficiency of the home (96 per cent) and its appliances (92 per cent), the home’s style or design (94 per cent), the builder or building company’s reputation (92 per cent), and the home’s warranty protection (91 per cent).

NEW HOME BUILDER’S WARRANTY PROTECTION

• Eight in 10 (83 per cent) respondents are aware of the new home builder’s warranty, although 40 per cent hesitated when asked whether newly built homes in Ontario come with it

• When asked who provides the new home warranty, more than half (54 per cent) think it’s the builder

• For 55 per cent, the builder’s warranty is a very important consideration for purchasing a new home

“Consumer awareness is a critical consumer protection issue,” says Balasubramanian. “If people are confused about the warranty program or aren’t aware of it, then it won’t serve its purpose. It is encouraging to see that a majority of people looking to buy a new home have a general awareness of the warranty program, that it’s a builder warranty, and that many believe it’s an important consideration when they buy a house.”

CONDO LAUNCH

Kingside Residences poised to become the most coveted address on Kingston Road Altree Developments’ Kingside Residences, a new 10-storey building, marks the gateway to east Scarborough. The boutique-inspired property will have approximately 156 units – from 339-sq.-ft. studios to three-bedroom suites spanning up to 1,347 sq. ft. – beginning in the high $400,000s.

Catch up between issues at & enjoy these popular stories

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AFFORDABILITY

Toronto gives municipal leaders failing grades on housing

As we headed into the recent Toronto mayoral by-election, Torontonians gave City Council a failing grade on housing affordability.

Q&A

In conversation with...

David

Hill, President and Founder of Ballantry Homes

With a mission to deliver the finest quality in design, materials and construction, and a commitment to offer exceptional customer service, Ballantry Homes strives to build not just homes but dreams.

SOHO SOPHISTICATED SOHO SOPHISTICATED

SOHO PERFECT

SOHO PERFECT

THE HEIGHT OF LUXURY IN THE HEART OF NATURE

THE HEIGHT OF LUXURY IN THE HEART OF NATURE

This is Soho, where stylish condominiums will rise in the urban heart of the desirable community of Central Park on the Hamilton Mountain. When you live here, the pulse of the city is right across Highland Blvd., while the peace of Central Park is all around you. Picture the calm waters of the Pond, and the Ecotrail to the Eramosa Karst. Live connected to Nature, just a stroll from the urban energy with restaurants, movie theatres, groceries, drug stores, and more. Soho is so perfect for you.

This is Soho, where stylish condominiums will rise in the urban heart of the desirable community of Central Park on the Hamilton Mountain. When you live here, the pulse of the city is right across Highland Blvd., while the peace of Central Park is all around you. Picture the calm waters of the Pond, and the Ecotrail to the Eramosa Karst. Live connected to Nature, just a stroll from the urban energy with restaurants, movie theatres, groceries, drug stores, and more. Soho is so perfect for you.

HOW WILL TORONTO’S NEW MAYOR IMPACT THE NEW

HOUSING MARKET?

proposes stronger protections for renters through rent controls within these affordable units.

BEN MYERS

After a campaign with more than 100 candidates, Olivia Chow lived up to her advanced polling prediction, becoming the first-ever mayor of colour and the first female since Toronto’s amalgamation in 1998. She won the election with 37 per cent of the vote, compared to her closest contender, former deputy mayor Ana Bailao, who had 33 per cent. An experienced politician, the 66-year-old Chow served as a school board trustee before sitting on Toronto city council for nearly 13 years, and becoming an NDP federal member of parliament for the Trinity-Spadina riding of Toronto between 2006 and 2014.

As Chow takes on her mayoral duties, the city is beset with issues, the first being a $1-billion budget deficit carried over from negative revenue years at the City brought on by COVID-19. This issue certainly presents additional challenges, as she will tackle one of Toronto’s biggest issues – housing affordability and supply.

While there is no one solution to magically fix these issues, Chow has publicly stated that she would address them in broad and more specific strokes.

Chow intends to implement inclusionary zoning, where new residential projects will have a certain percentage of affordable units. She said she would implement regulations and policies that prioritize affordable housing as part of urban development plans by allocating public land for affordable housing projects. She

Chow’s significant move on the housing front is a commitment to build 25,000 rent-controlled homes on city-owned lands over the next eight years, with the city re-entering a space it has long since vacated – development. One of her policy proposals is an affordable home fund with a $100-million annual investment to reduce “renovictions” by purchasing, repairing and transferring affordable rental apartment buildings to notfor-profits. Part of this investment will include the establishment of a Toronto Renters Action Committee to work on anti-renoviction by-laws, and doubling the reach of Toronto’s Rent Bank to help more than 3,000 Torontonians per year avoid eviction.

Where things get murky is how Chow will fund some of her initiatives. In a CBC interview, she said “Property tax will increase a modest amount” but admitted, “I can’t give a number.” She has hinted at an increase of land transfer tax up to three per cent on homes of more than $3 million in current value. She has also proposed a one- to three-per-cent vacant home tax increase.

Chow said in another recent interview that she is all for building up density on main streets and along transit routes.

These proposals sound good on paper, however, the City wants inclusionary zoning, but is unwilling to give developers anything in return for building these units. By ignoring best practices in the space, this means the affordable units are just an additional cost that is ultimately passed onto new-home buyers. Some economists will counter that developers should pay less for land to offset this cost,

but this is easier said than done, as many land vendors are quite sticky with their asking prices.

The notion that the City of Toronto can operate as a non-profit developer and deliver housing at scale is a bit far-fetched, as it can’t seem to fix a pothole or build a bus shelter in less than six months. Attracting top talent away from for-profit developers will be difficult, and that aggressive goal will almost certainly not be met.

Increasing property taxes is long overdue, and reducing renovictions is a noble pursuit, but both initiatives, along with more stringent rent control, may have the impact of reducing investment activity in the real estate industry. This may sound good to some people, but many of those investors are building housing, and helping fund the construction of new homes.

Political platitudes made during an election cycle will be tested under real-world stresses and limitations. In the past, Chow has been known for a leadership style characterized by collaboration, inclusivity and a genuine desire to listen to the concerns and ideas of others. I wish her the best of luck, but when push comes to shove, I’d bet on higher prices and higher rents in three to four years in Toronto.

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.

Ben

MARKHAM AND SCARBOROUGH

HOT REAL ESTATE AREAS

In the spring, Baker Real Estate Inc. launched Tower 1 of 450 suites at Metropia’s Union City in Markham, and the response was phenomenal. We sold out in one weekend, and immediately launched Tower 2 with 450 units, and that tower sold out quickly. The release of Tower 3 with another 450 suites is proving just as successful. Demand for new homes and condominiums in Markham is tremendous, and it is easy to understand why.

Markham has been a popular residential destination for decades because of the high quality of life residents enjoy. That quality of life includes attractive diversity and inclusion in population, cultures, foods and celebrations. Markham is also home to an array of businesses in a variety of sectors, from small entrepreneurial start-ups to multinational enterprises. There is diversity in the make-up of neighbourhoods as well, from the heritage sites or Markham Village and historic Unionville to the urban excitement of downtown Markham.

In addition to a wealth of existing excellent schools, Markham will welcome the Markham Campus of York University in spring 2024. The campus will offer academic programs and research revolving around technology and entrepreneurship. The city offers activities and support for all ages and is proud to offer healthy, vibrant and sustainable communities.

One of Markham’s most attractive features is being home to part of Rouge National Urban Park, the largest of its kind in North America. This natural wonder encompasses

creeks, forests, farms, trails and marshland. The park stretches down through Scarborough, another residential hotspot right now.

Part of the city of Toronto, Scarborough is also a delightfully diverse collection of residential communities and businesses including one of the city’s largest shopping malls, several golf courses, numerous headquarters of notable companies, and the historic Guild Inn with its installation art and ruins of columns. It is also home to the Toronto Zoo, the largest in Canada. The Zoo focuses on conservation, preservation and education. In addition, the facility houses plant species from around the world, including one of the largest tropical plant collections in Canada.

With the 2021 census reporting that 76 per cent of Scarborough residents identified as members of visible minority groups, this section of Toronto is a welcoming harbour for people of all ages, backgrounds and ethnicities. The area boasts many local arts organizations and festivals, including multicultural events. Topping off Scarborough’s amenities is the University of Toronto

Scarborough, as well as two of Centennial College’s campuses and its Performing Arts Centre.

As for nature, the Scarborough Bluffs is one of the most beautiful areas of Ontario, with its sandy beach, dramatic lookouts, boat launch, visitor dockage and picnic areas. The Bluffs is one of those “you have to see it to believe it” natural features. Along with Lake Ontario, the Bluffs form the spectacular backdrop for Residences at Bluffers Park, another highly successful condominium community we launched earlier this year.

Markham and Scarborough certainly have timeless appeal, making the homes and condominiums in those areas desirable at any given time or economic situation.

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

BARBARA LAWLOR

Bluffers Park by Skale and Diamante

SOARING SOPHISTICATION RISES OVER BRAMPTON

A new landmark is changing the Brampton skyline. Towering over a fast-growing neighbourhood, Bristol Place seeks to create a connected, transit-friendly community in the heart of the city, where convenience and comfort live hand-in-hand. But

this is no ordinary condominium –Bristol Place is Brampton’s tallest tower, raising the bar for modern living high above downtown Brampton.

For more than 30 years, Solmar Developments has been developing

in some of the most coveted neighbourhoods across southern Ontario in the company’s goal to create communities for a brighter tomorrow. This commitment is one that requires exceptional insight and flexibility to keep up

with the ever-changing wants and needs of homeowners, which offers enhanced experience for purchasers due to higher quality finishes and workmanship, and outstanding customer service. Throughout its prolific portfolio, Solmar has continued to demonstrate a high degree of proficiency, as its developments continue to revolutionize the world of residential real estate.

Located at 199 Main St. N. in Brampton, Bristol Place is the next step of Solmar’s dedication to a brighter tomorrow. The only preconstruction condo in the city that’s walking distance to the Downtown Brampton GO Station – a transit hub connecting GO, Via Rail, ZUM and Brampton Transit – this address was selected for the sheer proximity to convenient connections. The hustle and bustle of everyday living means that people are always on the go, and proximity to reliable transit can make the difference between spending hours getting where you need to go, or having more time to enjoy the things that matter.

But it’s not just transit that makes this location so fantastic – right at the intersection of Main and

Market streets, it’s the very centre of the city, where restaurants, retail and recreation are all within a few blocks from home. Whether it’s a stroll down the street to Garden Square for dinner and drinks, an evening out at the Rose Theatre, or Saturday Shopping at the Bramalea City Centre, everything you’ve been seeking in a vibrant urban neighbourhood is close by.

Brampton itself has been experiencing a new surge of growth in recent years, due in part to the innovative new plans to create vibrant neighbourhoods focused on livework spaces throughout the city. This plan has increased the desirability of downtown Brampton to an incredible degree, leading to far superior rental returns, higher appreciation on investment and ever-growing demand than other regions.

A big part of that is the Brampton Innovation District (BID), a business hub that acts as an expansion of a larger tech corridor stretching from Kitchener/Waterloo to the GTA. This is where you’ll soon find a plethora of new start-ups and high-tech companies, a new space for universities, the new $100-million Rogers head office, an expansion of

the hospital, a new cricket stadium and much more. This opens the door to new employees and new students who will need a place to live nearby, as well as giving current residents more options to work and study closer to home. With demand rising as fast as interest rates, Brampton’s already hot market is expected to skyrocket in value in the coming years.

But what does that mean for those seeking to get into the market within the GTA? Simply put, rents and home prices are expected to increase dramatically within the next three to five years, which means that not only will there be a surge of buyers trying to get into the market before they’re priced out, but those seeking an income property will experience peak rental yield in the next few years. Better yet – by the time suites at Bristol Place are ready to close, interest rates are predicted to reach a comfortable low, meaning that those who cash in on the prime conditions will benefit from lower interest rates, lower home prices and spectacular returns on their investment.

Bristol Place has arrived at the perfect time to provide much-needed support to this fast-growing city.

Where this striking new condominium meets the neighbourhood below, mixed-use retail and lush landscaping will make a natural transition into the walkable community outside its doors, contributing not only to the lives of residents, but the city as a whole.

Inside, a dazzling Grand Lobby and executive concierge are just the tip of the iceberg when it comes to the amenities at Bristol Place. In the first building alone, the ground floor is fit to function as naturally as possible for the convenience of its residents. There’s a pet spa with its own convenient exterior entry, a mail room and secure parcel pick-up adjacent to one another for convenience, and your 24hour concierge waiting to help.

Up on the fifth floor, the experiences continue in a full-floor amenity space. The state-of-the-art fitness centre comes with an attached yoga studio to offer space for all styles of activity. A co-working lounge gives modern residents the muchneeded flexibility to work remotely. A lounge, kitchen and private dining room let residents host guests of all kinds, from cooking classes to cocktail parties and beyond.

Not only that, but the adjacent terrace – the top of Bristol Place’s

beautiful podium – has its own private terrace for events, separate from the amazing outdoor opportunities. Because beyond your usual lounge and barbecue spot (though it has those, too), Bristol Place’s terrace has several distinctive social spaces as well as a special outdoor co-work lounge with Wi-Fi and electrical capabilities. It’s perfect for the professionals and students who will flock to his community to enjoy the benefits of fresh air and sunshine while they work.

In a time of rising interest rates and ever-increasing demand, Bistol Place is perfectly designed to display superior appreciation in this fluctuating market, with closings expected once interest rates have already decreased, giving buyers peace of mind and presenting the perfect climate for a sound investment. The first tower of this new community is now available, with prices starting in the $500,000s for stylish one-, two- and threebedroom suites offering an exclusive 15-per-cent deposit structure. Learn more at solmar.ca and discover life above it all.

Prices and specifications are subject to change without notice.

Renderings are Artist’s Concept. Speak to sales representative for further details. E. & O. E.

TAPPING INTO RENEWABLE RESOURCES

DEBBIE COSIC

We’re always looking to find more sustainable and cheaper alternatives to run our lives and homes. With the advent of electric cars and geothermal heating, we now have cleaner, cost-saving options.

From wood-burning fires to oiland gas-powered heating, natural gas became the preferred fuel of choice as a result of extensive pipeline networks that could reach communities – far and wide.

Oil heat burns hotter, but it requires a tank outside the home in which to store it. Over time, tanks break down and petroleum might leach into the soil and surrounding bodies of water, contaminating municipal and private drinking water. Gas can also have a negative effect on the environment, as it is extracted through a method called fracking, which can affect the integrity of the earth’s surface. In addition, gas can be emitted without any warning to the homeowner, as there is no smell associated with leaks.

GEOTHERMAL BENEFITS

• Significant savings on heating and cooling

• Efficient

• Low maintenance

• Reduced operational costs

• Possible government subsidies

• Environmentally friendly

• No smells

• Adaptable to most climates

• Renewable energy

• Reduced greenhouse gas emissions

While all of these may be referred to as natural resources, they are not easily renewed. Our forests are being depleted at an alarming rate, and gas is a fossil fuel that will not be replenished in our lifetime, or many human lifetimes.

Geothermal energy is a clean, renewable resource that can be harnessed from the earth’s core to be used for heat and electricity. Wells, which range from a few feet to several miles deep, are drilled to access underground reservoirs of very hot water. This is then brought to the surface to generate heating and cooling applications. The heat that flows through the earth’s core is constantly being replenished by naturally decaying radioactive elements.

Geothermal power plants are also more compact than wind and solar power stations. Plus, geothermal resources can be harnessed for power production without having to import fuel.

SAVINGS ON EVERY LEVEL

The average monthly cost for natural gas in 2023 is $51.42. And, for electricity, each household pays about $130 for basic service. The Environmental Protection Agency (EPA) says property owners can expect up to 70 per cent savings on heating costs, and up to 50 per cent savings on cooling costs, if a geothermal heat pump is installed. Realistically, a 1,500-sq.-ft. home can expect to pay between $30 to $50 per month in heating and cooling costs. Plus, hot water availability is limitless and virtually free.

While the installation of personal geothermal system is still quite high, the long-term benefits are priceless.

DON’T JUDGE A HOUSE BY ITS FACADE

New home construction is also becoming more energy efficient, and builders are introducing any number of materials and methods to assist with cost-saving measures when it comes to utilities and upkeep. It’s important to research the behindthe-scenes infrastructure of your new home to ensure that the most advanced systems are being used to preserve its overall integrity and functionality, while being considerate of the environment. By building a geothermal exchange system into a building site, each new home becomes its own ecosystem. Geothermal energy accesses a completely sustainable resource from our planet’s core, providing a renewable cycle of natural elements to help keep us warm and comfortable throughout the year. subterrarenewables.com

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

TORONTO’S NEXT CHAPTER:

WHAT’S IN STORE FOR HOUSING?

Following the election, Torontonians are eager to see promises for prioritizing housing affordability come to fruition. We’re relaying the housing initiatives set by our newly elected mayor, Olivia Chow. TRREB hopes that these will harmoniously align with our plan to build more homes and make housing more affordable in Toronto.

The mayor’s top three housing initiatives are:

CITY HOMES PLAN

• Building 25,000 rent-controlled homes over eight years

• Minimum of 7,500 affordable units

• 2,500 rent-geared-to-income units on land the City already owns

SUPPORT FOR RENTERS

• Increasing the reach of Toronto’s Rent Bank & Eviction Prevention programs

• Creating a $100-million Secure Affordable Homes Fund

• Establishing a Renters Action Committee

NEW HOUSING TAXES

• Increasing the City Municipal Land Transfer Tax (MLTT) on homes selling for $3 million or more

• Increasing the City’s Vacant Homes Tax from one to three per cent to fund affordable housing initiatives

At TRREB, we believe that it is imperative that Toronto keeps fighting

for housing affordability. Now is the critical time to move from electoral promises to actual implementation. We must build 285,000 homes over the next 10 years. This will help keep homeownership and rental properties affordable for future generations. To achieve this vision, this is our plan to build more homes and make housing affordable in Toronto:

DOUBLE DOWN ON THE HOUSING ACTION PLAN

The City’s 2023 Housing Action Plan commits to building 285,000 homes over the next 10 years. Notably, TRREB supports the Expanding Housing Options in Neighbourhoods initiative, which calls for the end of exclusionary zoning rules and more as of right mid-density housing up to a fourplex.

NO NEW FEES AND CHARGES ON HOUSING

Toronto homebuyers pay, on average, more than $350,000 in taxes and government fees on detached homes, and more than $180,000 on every condo. In the GTA, this adds up to 31 per cent of the purchase price. In the effort to address the housing affordability crisis, the City must begin with no new fees or taxes on housing.

HAND-UP FOR FIRSTTIME HOMEBUYERS

In our current housing market, young people are struggling the most and they need a hand up to achieve their dreams of owning a home. Toronto should waive the Municipal Land Transfer Tax for first-time homebuyers or increase the rebate and encourage the province to follow suit.

FAIR PROPERTY TAX INCREASES

Property taxes are crucial to good quality public services that benefit all Torontonians. To mitigate their impact on housing affordability going forward, increases should be fair to ensure everyone is contributing adequately.

END THE RELIANCE ON THE MUNICIPAL LAND TRANSFER TAX

Toronto is the only city in Ontario that charges both provincial and municipal land transfer taxes. This double taxation adds almost $38,000 in tax on the average priced Toronto home ($19,000 in MLTT) and must be paid upfront. TRREB continues to disagree with this, and believes that prudent budgeting should make the City less dependent on this revenue which fluctuates with the market.

INVESTMENTS IN CRITICAL INFRASTRUCTURE

New transit and transportation investments will allow for higherdensity and mixed-use communities; which means more housing options. Inadequate essential services will have a negative effect on real estate in Toronto.

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

PAUL BARON

BIRCH CONDOS & TOWNS AT LAKEVIEW VILLAGE

LUXURY LAKESIDE LIVING WHERE THE LAND MEETS THE LAKE

Branthaven is excited to launch Birch Condos & Towns in Lakeview Village, Mississauga’s visionary new master planned waterfront community. Birch will be a rare 15-storey boutique condominium and exciting townhome collection in the first phase of this transformative lakefront community.

“Birch Condos and Towns draw their design inspiration from the very land, lake and shoreline on which our new community will rise,” says Steve Stipsits, president of Branthaven. Boutique in scale, bespoke in quality and “Branthaven-built,” Birch Condos & Towns is destined to be an

iconic architectural addition to the Lakeview Village streetscape and skyline.

Birch’s amenity spaces are curated for luxury lakeside living and boutique hotel level interior design. Every surface of the soaring double height lobby has been curated for a striking first impression for residents and their guests.

The adjacent co-working space is a nature-inspired hub for work and play. By day, the co-working’s soaring double height glazing makes this bright and smart working space conducive to casual communal tables or plush privacy at upholstered banquettes. Charge

up with handy port connections throughout and refuel at the impressive central island coffee station. After work, this space transforms to a social lounge to gather round the warmth of the fireplace and relax with friends and neighbours.

The Birch Wellness Centre invites a complete mind and body reset. The ground level, double height fitness studio offers plenty of space to unwind. Relax with mindful meditation, a stretch session or yoga. Recharge with cardio and strength training equipment then refresh at the locker and water station. Take your fitness

Day or night, Birch’s distinctive architecture is a striking silhouette and warm welcome

routine outside to the adjacent patio with its easy access to all of Lakeview Village’s parks, paths and waterfront trail.

The Birch Social Club and second level terrace offer residents and their guests plenty of lifestyle and entertainment choices. Party room, billiards, media area, catering kitchen, wet bar and cosy areas for cocktails or conversation –everything has been considered for an inviting experience.

The rooftop terrace is the perfect perch to take in the Lake Ontario waterscapes, Port Credit harbour views and spectacular Western sunsets. This 16th floor rooftop terrace brings a truly elevated outdoor experience for residents and their guests with plenty of al fresco spaces to relax on a chaise, in a cabana, or at the barbeque and outdoor dining area.

For more than 50 years, Branthaven has earned its legacy reputation for attainable luxury and award-winning design. Whether you are looking for a carefree condominium or a contemporary townhome lifestyle, Birch interiors are crafted with Branthaven’s signature style and emphasis on functional layouts, bright interiors with floor-to-ceiling windows and no wasted space.

Branthaven’s Fresh Thinking kitchens feature design-forward style, curated colour palettes, upgraded cabinetry, solid surface countertops, smart storage and fullsized appliances – at no extra cost.

Branthaven’s bathrooms and luxe ensuites draw their inspiration from boutique hotels with contemporary fixtures and finishes, furniture-style vanities and spa-like ambience.

Birch condo suite choices range from one-bedroom, one-bedroom plus den, two- and two-bedroom plus den collections, as well as a very limited collection of threebedroom layouts.

The Birch Boulevard Townhome Collection is a limited offering of three-storey townhomes with private rooftop terraces located

along the lush landscaped “green river” of Aviator Green – a central boulevard in Lakeview Village. A second collection – The Courtyard Townhomes – provides a variety of three-storey back-to-back townhomes – also with private rooftop terraces. The Courtyard Collection townhomes wrapping around an internal landscaped parkette. All townhomes owners have full access to Birch’s hotelinspired amenities, including the lobby lounge, co-working and social spaces, fitness facility, party, games and media lounge and rooftop terraces.

Birch Condos & Towns is located in Phase 1 of the visionary Lakeview Village, a 177-acre destination waterfront community with every modern urban amenity imaginable. Recently awarded the Global Best Urban Design Award for its transformative and sustainable mixed-use master plan, Lakeview Village’s endless greenspaces and vast waterfront playground beyond compare and a real estate opportunity unlike any other.

Don’t miss the launch. Register now at birchatlakeviewvillage.ca.

Stretch, strengthen or sun salutations are easy from the fitness studio and patio

Nine-ft. ceilings and open-concept plans are bright and airy

Step out to Aviator Green’s lush landscaped boulevard from your condo or townhome

Enjoy 67 acres of waterfront parks, trails, beaches and boardwalks

5 EXPERT TIPS

TO ENSURE YOU HAVE THE RIGHT MORTGAGE

THE IMPORTANCE OF PREPAYMENT PRIVILEGES

JESSE ABRAMS

The homebuying process is an exciting time, but it can also cause a whirlwind of emotions –especially if it’s your first time. As one of the biggest investments you’ll ever make, it’s important that you feel confident in your decision, not only for your home purchase but for your mortgage as well. Here are some key things that should be top of mind before you lock in a mortgage.

FIXED VERSUS VARIABLE RATE

Fixed-rate mortgages have an interest rate and payments that stay the same throughout the length of your mortgage term. For example, if you have an interest rate of 4.3 per cent on a five-year fixed mortgage, the rate will be the exact same for all five years of the term and your payments won’t change. This affords stability when it comes to budgeting your expenses. On the other hand, a variable-rate mortgage has a rate that will change based on market conditions. In this case, there are versions where your payments would remain the same or fluctuate based on the market. However, in both situations, the amount of interest paid off will increase or decrease depending on rate fluctuations. If you’re comfortable with taking a bit of risk and potentially saving more money over your mortgage term, a variable-rate mortgage might be a good route for you.

While paying off your mortgage faster may not be your first thought when making a new home purchase, it’s important to consider if you may plan to do so in the future. Making monthly prepayments or annual lump sums can save buyers a considerable amount of money, however, it’s only worth your while if your mortgage allows for it. If you want to pay your mortgage off as quickly as possible, knowing your prepayment privileges is essential. These privileges are outlined in your mortgage contract and determine the number of additional payments you can make toward your mortgage, as well as how often and how much you’re able to pay off.

BEWARE OF COSTLY PREPAYMENT PENALTY FEES

Once you understand your prepayment privileges, you need to consider the prepayment penalties within your mortgage contract. This should be top of mind when shopping around for different lenders and mortgage options, especially given that penalties – in some cases – can add up to tens of thousands of dollars. Some lenders have higher penalties, such as big banks, or “no frills” mortgage options, while others are lower. Understanding the penalties that come with your mortgage will not only help you find the right option, but also save you money over the long term. This will help you avoid any big surprises if you ever have to break your mortgage earlier than expected.

DON’T GET CAUGHT UP ON THE RATE

Although your rate is a significant aspect of your mortgage, it doesn’t

necessarily mean everything. If you shop for a mortgage based on rates alone, you may find yourself in a situation where you can’t take advantage of features that could save you money. Some lenders might seem favourable because they offer a slightly lower rate, however, these options could cost you more money over time. While the rate you lock in could save you a couple hundred of dollars, your amortization length and prepayment privileges have the potential to save you thousands. That’s why it’s important for buyers to understand the significance of other mortgage features, aside from rates.

EXPLORE YOUR OPTIONS AND SHOP DIFFERENT LENDERS

Going beyond the big banks, other lenders such as credit unions and monoline lenders continue to grow in popularity because they offer competitive products, lower rates and penalties, and increase your chances for approval.

If you’re currently navigating the homebuying and mortgage process, the most important thing to do is ensure you’re informed before taking this next step. Having clarity and understanding the fine print will allow you to make a decision that is right for you.

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

WHAT IS A POWER OF ATTORNEY AND

WHAT SHOULD IT INCLUDE?

JAYSON SCHWARZ, LLM

Whether you are a young or an older person, preparing Powers of Attorney and Wills is a necessary evil that everyone not only should do but must do. I stress this because I have seen so many times the mess that is left behind when an individual doesn’t take care of their affairs and a family is left trying to pull the pieces together.

This article is not about your Will, it is about preparing Powers of Attorney and not just using printed forms. This became glaringly obvious to me recently when a man suffered a brain aneurism, and his wife was put in the horrible position of having to decide whether to end all life support, effectively leading to the death of her husband.

The husband should have made that decision himself earlier, and spared his wife the horror and guilt. How do we do that?

There are two kinds of Powers of Attorney (POA) that each of us should sign. The first is for financial matters. This POA allows the designated attorney to conduct all financial affairs, as if he or she were that person. This would help, for example, in a case where a person had two broken arms and couldn’t sign cheques. Even with this POA, if you want restrictions and specifics, you need to have the lawyer you retain include these details in the legal document.

The POA for personal care gets even more tricky. This is where you need to think about all of the potential problems that could occur,

and how you want to make decisions on what happens in advance. As an example, here is one kind of clause: I do not wish to be kept alive for any significant period of time if I am in a vegetative state or I am being kept alive by artificial means, unless there is a reasonable chance of my recovery such that I will no longer be in a vegetative state or kept alive by artificial means. Where there is no reasonable chance of recovery, I direct that I be allowed to die and not be kept alive by medications, artificial means or “heroic measures,” and I direct that any such medications, means or measures that would keep me alive in those circumstances be withheld or withdrawn. I do, however, ask that medication, means and measures be mercifully administered to me or medical or surgical procedures be taken to

alleviate suffering even though this may shorten my remaining life.

Or, as an example, here is a list to consider: Health care, nutrition, shelter, clothing and hygiene. At our firm, we typically arrange for either a GP or surgeon to be available to review these issues, and be able to discuss them with our clients as part of the process in order that we might incorporate their desires into their POA.

Taking these steps and clarifying these matters now is the best gift you can give your loved ones. Don’t wait.

Jayson Schwarz LLM is the founding senior partner of Schwarz Law Partners LLP. schwarzlaw.ca.

EXPERIENCE SOPHISTICATED LIVING IN OAKVILLE

THE VILLAGES OF OAK PARK

In Oakville’s vibrant and walkable Oak Park district, Ballantry Homes presents The Villages of Oak Park, a new condominium community that will elevate energy in one of the city’s most desirable neighbourhoods.

Opening on May 13, The Villages of Oak Park offers one-, two- and twobedroom plus den suites with a rich complement of lifestyle amenities, including an elegant lobby lounge with 24/7 concierge, a spectacular indoor-outdoor party room, a fitness studio and a rooftop terrace with panoramic views.

An architectural landmark soaring above the intersection of Dundas and Trafalgar, this is the newest community by Ballantry Homes, the established developer that

brought The Renaissance and The Cosmopolitan to the area.

Experience the prestige of Oakville and the energy of the Uptown Core. The Villages of Oak Park is perfectly situated just steps to chic shops and restaurants, bike paths and trails for commuting or recreation, as well as easy transportation and transit routes. This location couldn’t be better.

UPSCALE LIVING IN UPTOWN OAKVILLE

Luxury lives here. Designed with a synthesis of glass and beige and brown precast elements, The Villages of Oak Park radiates modernity with a touch of class. Every one-, two- and two-bedroom plus den suite features a beautiful balcony that offer even

more exceptional views – and up on the rooftop terrace, the ultimate 360-degree panoramic perspective of the city and beyond.

Smart suite layouts maximize space, making room for comfortable living and lavish entertaining. Experience sunlit and spacious open concept living and dining rooms, gourmet kitchens with exquisite countertops, fine cabinetry and a quality appliance package, in-suite laundry and spainspired bathrooms.

Every suite includes top quality finishes curated by Ballantry Homes’ award-winning design team, plus every homeowner has the opportunity to personalize their suites to their individual taste with an exceptional selection of premium upgrades.

ENVIABLE BUILDING AMENITIES

Step inside a warm and welcoming double-height lobby, anchored by an executive concierge desk and illuminated by expansive glass walls, sleek stone floors and rich wood and metal accents. The plush seating and co-working lounge are perfect for meeting friends and colleagues.

Take a break in the modern fitness studio, where the latest cardio and weights equipment is bathed in sunlight from the ground floor wall of windows. Practice yoga and unwind in a stretching zone that takes any workout to the next level.

Soak up the sun and host a barbecue on Oakville’s most stunning rooftop terrace at The Villages of Oak Park. With 360-degree views of the city, pergolas for shade and a wide selection of seating and lounging areas, it’s ideal for entertaining and relaxing.

In the spectacular multi-purpose party room and lounge, host a dinner party and entertain in sophisticated style. With a kitchenette and a walkout to the rooftop terrace, the room transforms seamlessly for hosting a meeting boardroom, a casual brunch or a party for a special occasion.

GET TO KNOW THE NEIGHBOURHOOD

A prime location, The Villages of Oak Park is in Oakville’s Uptown

Core neighbourhood, one of the most walkable and dynamic areas in the GTA. Stroll to boutiques, shopping centres, restaurants, schools, parks and recreation hubs. With bike pathways, hiking trails and conservation areas to explore, plus many green spaces close by, including Memorial Park, Town Centre Square, two idyllic ponds and the charming Windfeld Parkette, getting active is easy.

Some of the finest public and private schools are within a 10-minute drive of The Villages of Oak Park. The Fraser Institute rankings include many Oakville educational institutions, which are highly sought after by parents and educators, including Sheridan College’s Trafalgar campus which offers a wealth of post-secondary programs.

QUALITY, VALUE AND SERVICE

Owning a Ballantry home is different. For more than 35 years, Ballantry has built quality homes and communities across Ontario. The superior level of quality and craftsmanship in every home, and exceptional customer care, set Ballantry apart. Every home provides everlasting value to Ballantry families, ensuring comfort, a beautiful home to fill with memories, and a sound investment for years and years.

To learn more, visit ballantryhomes.com.

SALES OFFICE LOCATION

20 Oak Park Blvd., Oakville

SALES OFFICE HOURS

Monday to Thursday

1 to 7 p.m.

Saturday, Sunday and holidays noon to 5 p.m. Closed Friday

CONTACT

Vince Guerra

vince@ballantryhomes.com

Adam Guerra adam@ballantryhomes.com

WALK SCORE

With an abundance of shops, restaurants and entertainment, most of your exploring can be done on foot – 85

BIKE SCORE

Easy access to bike paths and trails make this a great spot for commuters and recreational cyclists alike –64

TRANSIT SCORE

Leave the car at home and take reliable public transportation around the city and beyond – 51

REMOVING PARKING MINIMUMS

WOULD BE A WIN FOR AFFORDABILITY

The Greater Golden Horseshoe is facing an affordability crisis: Rising rent and mortgages are causing strain on many families’ finances. Government and the development industry need to act quickly and cooperatively to increase housing supply. One conceivable way to help is by eliminating mandatory minimum parking requirements. Based on research and case studies from other jurisdictions, we know that parking requirements reduce housing affordability and the development feasibility for new homes. The cost of building parking is high, and it is often oversupplied. Parking minimums were introduced decades ago to ensure that new developments had plentiful parking as the car began to dominate cities in the mid-20th century. More recently however, there has been a policy shift towards more sustainable travel options and denser developments centred on public transit and walkability.

It is time for us to rethink mandating parking requirements for residential developments. Cities across North America are now vastly reducing or outright eliminating mandated parking, as people own fewer cars and desire to live in more urban environments. For example, in 2020, the City of Edmonton eliminated parking minimums and has not seen any negative impacts resulting from this change.

Developers continue to provide parking when needed to meet their consumer demand, but are not overproviding parking when the market dictates it is not necessary. This has resulted in building enough parking to meet demand, but not requiring the developers and newhome buyers to pay for an oversupply of parking spaces.

The cost of mandated parking is high; a single parking space can cost more than $100,000 to build. This cost is passed on to the purchaser or renter of the home. Far worse, in some cases, the additional cost of providing the required parking spots results in developments not being feasible to build. Not only do parking mandates increase the cost of housing, but they can also reduce our overall housing supply potential – at a time where we need to dramatically increase it. If we are to address housing affordability, we need to rethink mandated minimum parking requirements. Where it makes

sense to build, and there is consumer demand, builders will continue to provide parking. Where it does not make sense, there will not be a mandatory requirement in place that increases the cost to provide housing.

In the future, as we increase local transit options, promote sustainable transportation choices, and strive to intensify and redevelop our cities, we must explore removing mandatory minimum parking requirements in cities across the region. By eliminating mandated parking minimums for new development, we can create more vibrant, active, walkable, transit-friendly and more affordable communities.

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

MIKE COLLINS-WILLIAMS

A TOUCH OF

PERSONALITY Give your walls

As a designer, I have always been passionate about colour and texture. I enjoy the beauty and lushness found in richly coloured fabrics, the coarse texture of rough-hewn salvaged wood and the aged patina of beautifully tarnished metals. Throughout history, we have seen many magnificently classic design features for our walls, be it ornately elegant plaster mouldings reminiscent of vintage Parisian apartments, or the rich mahogany paneling of stately English manors. These stunning creations gave classic splendor, charm and personality to our walls. Over time, we were introduced to modernism, which brought along its own stark beauty and simplicity. We’ve seen colour trends change, wallpapers come and go, all kinds of wood, or faux wood and wall cladding, but in the end, our desire to bring style and character to our walls has continued.

Undoubtedly, our walls have experienced many different lives over time, giving us an abundance of inspirations to draw on. However, deciding on a design direction can be a bit of a challenge. One of the easiest ways to liven up your walls is with paint. A rich, bold colour can add drama to your space, or simply create a contrasting feature wall for a quick and inexpensive wall makeover; and should you tire of the colour, it’s a relatively easy fix.

Wallpaper is always a great way to add character to your walls. Again, whether it’s an entire room, or just a feature wall, a bold patterned wall covering will undoubtedly be impactful in your space. There are some stunning wallcoverings out today full of colour, texture and pattern. From bold geometrics to vintage florals, opulent metallic finishes and wood inlays, to the natural uncomplicated look of grass cloth, wallpaper has given us an exciting approach to decorating and the perfect enhancement to spaces large or small.

The warmth and texture of wood can also create a wonderful feature wall. Whether you prefer the look of rustic, reclaimed barn board, a light toned tongue and groove paneling, timeless and classic wall mouldings or you’re in the mood for a bit of fun with some applied moulding and a gallon of paint, you know the addition of wood paneling will definitely make your walls sing. Today, we also have an abundant selection of 3D wall panels and tiles, which are a great way to create a fantastic feature wall with a more modern approach.

Concrete and brick have their own charming character and are a striking addition to any home. The industrial vintage vibe of exposed brick walls, and the modern feel of concrete both add great character and charm.

None of us want to live in a cookie-cutter home. We can decorate our homes beautifully, but in the end what we do with our walls can ultimately elevate our spaces from simply a pretty room to a “wow” room. Inspire your design creativity to create that wow factor in your home. When it comes to adding personality to your walls, the possibilities are almost endless.

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

HOW TO DECORATE

YOUR TERRACE FOR SUMMER

by LISA ROGERS

Summer is the time we spend a lot of time outdoors, so creating a warm, inviting space to chill out and enjoy nature is really important. Whether you’re entertaining friends and family, or simply enjoying a morning cup of coffee, your exterior environment is equally as important as inside your home.

Now that summer is officially here, it’s a good time to highlight some simple ways you can upgrade your deck.

FOCUS ON FURNITURE

Select natural materials and finishes to give an overall sense of calm and peace for your deck. Teak furniture is ideal, as you don’t have to store it indoors during the winter, while faux wicker pieces have a great organic feel, never break down and are easy to clean. If you get a lot of direct sunlight, create shade with a cantilever umbrella. Transportable, small tables also work well as a convenient place to lay down a book or place a cocktail.

BUILD A SMALL GARDEN

Before you start selecting what plants and flowers you’re going to use, make sure you evaluate your sun exposure, wind and general temperature zone your home is in. All of that will affect which blooms will grow best.

Whether beside the deck door, along the stairs or a railing, scatter beautiful potted plants all over in varying sizes and shapes, while also using a bunch of annuals and perennials for beautiful shots of colour. There’s certainly no

shortage of planters available, so you can find virtually any size and style that suits you. This is the time I also plant my favourite herbs (a sunny patio is the perfect spot to grow them), along with a tomato plant or two. If you’re uncertain what to plant where, your best bet is to go to a garden store so they can answer any questions you have.

CREATE A COSY SEATING AREA

Turn your deck into an outdoor living room by accessorizing with a cosy seating area that is all-weather and durable. It will lend a comfortable

vibe to the space. Think of adding an outdoor rug giving the space a nice textural element, while also being highly functional (it will help anything from being tracked when you move in/outdoors). Opt for a rug in a neutral colour, so as to blend in with your existing deck (and furniture) as best as possible.

CREATE PRIVACY

Love your deck, but not your view? Block out your street, a busy intersection or that nosy neighbor by using a row of evergreens to form a privacy wall where you

need it. It’s the easiest way to build an intimate, private space in your backyard. I love faux hedges and plants, too. Definitely less maintenance, and they last for years. If you have the space, consider a retractable awning, that will not only protect you from the sun, but will also act as an anchor to your space giving a more intimate feel. Alternatively, you could install a wooden lattice wall to one side of your deck and plant clematis and climbing roses that will naturally grow up the lattice. Over time they’ll form a gorgeous wall of blooms.

Lisa Rogers is Executive Vice-President of Design for Dunpar Homes (dunparhomes.com). Lisa has shared her style and design expertise on popular television programs such as Canadian Living TV, House & Home TV and as a regular guest expert for fashion and image, health and wellness and design on CityTV’s Cityline. Follow Lisa’s blog at craftedbylisa.ca

Family

matters

by SARA DUCK • photos VINH LE

A condo renovation in the heart of Toronto blends a beautiful modern esthetic with heirloom touches

What do you get when you take a condo with sweeping views of the Toronto skyline and clients who want a modern look that honours their Chinese heritage?

“A unique space that is as timeless as it is functional,” says Luca Campacci, designer and co-founder of Level Studio. Campacci and his team were inspired by their client’s antique Chinese furniture pieces passed down from their family. “They were great

jumping-off points to pull colour from,” explains Campacci.

To start, Campacci used a light neutral palette in the main living area and primary bedroom for a calming feel that emphasized the view. From there, pops of pink and purple were drawn from the Chinese furniture pieces and incorporated throughout the home. “We pulled the deep merlot colour from the antique chairs and put it on the walls in the second bedroom and added a sofa bed for guests to maximize functionality,” says Campacci.

The third bedroom was turned into a home office with custom bookshelves to feature the client’s love of reading. A dark grey was used on the walls and shelves to make this room feel very cosy in the day and let the city sparkle at night. “Our client has a deep love of family and ancestry, so we curated a collection of family photos going back generations in the office opposite the marble base desk, making the perfect backdrop for video calls,” says Campacci.

When it came to the kitchen design, things got tricky. Campacci explains that his client requested an island as a must-have for more counter space, but it left little room for a dining table with a comfortable amount of circulation space. So, he and his team worked their design magic to build a new kitchen island to match the upgraded Italian kitchen with a countertop waterfall on three sides.

“We then designed a custom-made dining table in a unique shard-like shape extending on a diagonal to

emphasize the room’s shape and butting upright against the island. The design allows everyone at the dining table the luxury of enjoying an amazing view of Toronto while also having ample circulation space around the kitchen and sliding balcony doors,” he says.

Through teamwork and collaboration with his clients, Campacci transformed the space into a contemporary home that reflects the needs and values of the homeowner, with family at the heart of it all.

With more than 15 years’ experience as a magazine editor, writer and content creator, Sara brings her passion for design and decor to our pages each issue. Instagram: @bysaraduck

PURPOSEFULPLANNING

by SARAH ST. AMAND

Our emotional connection to our home is a powerful and personal one. So, why isn’t this a hotter topic of discussion at the design table? And furthermore, how does form, function and esthetics fit into the conversation?

When taking on a new project, the first thing I do as the designer is to get to know my clients to discover their emotional connection to the home. That includes whether that connection already exists or is something they aspire to achieve through good design.

While one might argue that good design is subjective, there are some basic principles that contribute to a

successful space. Ultimately, good design is about solving problems. Every home has its unique idiosyncrasies. I’m referring to those imperfections – big or small – that contribute to a home’s character but can also create some challenges when it comes to lifestyle, efficiency and esthetics.

Older homes

Structurally speaking, most older homes have issues such as warped walls, or slanted floors and ceilings. These issues are impossible to ignore, from the peculiar shadows appearing on the walls, to objects rolling across the table. It’s not a ghost – unless you’re haunted by poor craftsmanship. This can all be concealed, if not corrected, through thoughtful interior

design. Structural changes are always possible by way of a renovation, but if the building is safe, lighting is costefficient and surprisingly effective at camouflaging these issues.

Intentionally unique

On the other hand, some of these idiosyncrasies are intentional. Consider the architectural details of a Victorian- or Art Deco-era home, or a new build inspired by it. Unusual trim work, window and door casings, wall panels, built-ins, or a fabulous fireplace or staircase are highlighted through good design. As with the problem side of homes, lighting is a great way to help highlight these fabulous features that make a home truly unique.

There’s truly no problem that good design can’t solve

Function and flow

Beyond structural issues, one thing that adds to a successful home design is its flow. I’m referring to how you move through a space – down

hallways, through rooms and around furnishings. Good flow is critical to a home’s function and its style, which happen to be two key focal points of why you benefit from working with an interior designer.

Function is another factor in every well-designed space. How a person or family live in their home is critical to a design that not only works, but works for them. A home’s layout and the flow of traffic through the space and around furniture can be a make-it-or-break-it moment. Great flow should lead you through areas without obvious barriers or breaks. Your experience should be natural and instinctual. This is achieved through continuous elements, including materials, colour palettes and details.

Beyond looks, a home should also flow from a functional perspective. Again, the design focus here is on eliminating obstacles with the proper usage of space and a furniture layout that enhances the homeowners’

lifestyle. For example, what activities do they do at home, where do they like doing them, how often and with whom? Once that is established, a floorplan can be designed as a true experience, rather than random arrangements that do little for the home or its residents. The process begins here, whether one is building from the ground up, doing a full renovation or redecorating. Good design truly does come from within.

Home sweet home

A great house can solve your problems – it’ll warm you up when the world gives you the cold shoulder; it’ll make your life and work more efficient; it’ll bring family and friends closer together; it’ll provide a place to retreat and turn inward, when you need to. There’s truly no problem that good design can’t solve.

If you follow and play by these rules, you will for sure create a great stylish place to call home.

Award-winning designer Sarah St. Amand is founder and principal designer for Sarah St. Amand Interior Design Inc., a multi-faceted firm known for curating uniquely personal livable luxury tailored interiors. Servicing Toronto and the GTA, and North America. stamanddesign.com @sarahst.amandinteriordesign

Photo: Mike Chajecki

Bristol Place Brampton

NorthShore Burlington

developer: SOLMAR DEVELOPMENT CORP.

style: Highrise

size: Starting from 432 sq. ft.

features: • Brampton’s tallest towers on a podium with landscaped courtyard and parking for all unit types

• 1 bed, 1 bed + den, 2 bed, 3 bed

• Steps to Go, VIA Rail, and ZUM rapid transit

• Close to Brampton’s Innovation District, Gage Park, Rose Theatre and much more

• 24x7 Concierge, Lobby Lounge, Co-working Space, Outdoor BBQ, Party Room with serving kitchen, Fitness and Yoga Studio, Pet Wash and much more

contact: solmar.ca

location: 199 Main St N, Brampton, ON L6X 1N2

presentation centre: 9291 Jane Street, Vaughan | 905-804-1451

Branthaven Mississauga

developer: NATIONAL DEVELOPMENTS

style: Mid-Rise

size: 8 Storeys, 387 Units

features:

• 1 Bedroom Condos starting at $499,990, 2 & 3 bedroom also available

• Lobby, Gym, Co-Working Space, Party Room, Private Dining Room with Catering Kitchen

• Rooftop with BBQs & Party Lounge Area

• Coming soon to Burlington

register at: MyNorthShore.ca

location: 490 Plains Rd E near Plains Rd. & King Rd., Burlington

Central Park North York

developer: BRANTHAVEN

project name: Birch Condos & Towns at Lakeview Village

style: Highrise Condos and Towns

features: 298 Condos & 59 Towns

prices from: TBD

features: • Part of Mississauga’s most anticipated master planned waterfront community, Lakeview Village.

• Waterfront trails, beaches, parks, schools and shops

• Fully furnished indoor and outdoor amenities designed by II BY IV DESIGN

• Rooftop terrace, fitness facility, dining/social lounge, media/games lounge and pet spa

• BH Home TechnologyTM , a Smart Home solution providing integrated building/home access and control system

• 1-3 bedroom condo units

• Located between Port Credit and Long Branch Go Stations

contact: Branthaven.com

location: Hydro Road, Mississauga

developer: AMEXON DEVELOPMENT CORPORATION

style: Highrise – 12-acre, master-planned community size: 436 - 1,200 sq. ft.

prices from: from the $700,000s

features:

• 1 Bed, 1 Bed+Den, 2 Bed, 2 Bed+Den, 3 Bed+Den

• Spacious layouts, terraces/balconies

• Located in the Bayview Village neighbourhood

• Leslie subway station and GO Transit at your door

• Direct access to the East Don Parkland ravine

• Central Park Common – a three-acre urban park offering year-round, outdoor event programming

• 55,000 sq. ft. of resort-style amenities including coworking space, skating rink, indoor and outdoor saltwater pools, privately operated childrens’ daycare, EV charging stations in all parking areas contact: centralparktoronto.com

• (416) 252-3000

location: 1200 Sheppard Avenue East

The Villages of Oakpark Oakville

ALLURE Toronto

developer: BALLANTRY HOMES

project name: The Villages of Oakpark style: Highrise

size: 500 to 1506 sq.ft.

features: • Easy access to the QEW, Highways 403 and 407, and the Oakville GO Station.

• Select from luxurious 1, 2 and 2-bedroom+den suites.

• Rich amenities include gym, party room, rooftop terrace, lounge, co-work space, 24/7 concierge.

• Geothermal and Ballantry Connect Smart Package contact: ballantryhomes.com

developer: EMBLEM DEVELOPMENTS

style: Highrise

size: 428 sq.ft - 1,005 sq.ft.

features:

• 43-storey tower offering 509 residential units

• Heritage façade integrated with modern architecture

• 100 walk score, 100 transit score and 98 bike score

• Chauffeur service using ALLURE’s private Rolls-Royce

• Curated amenities: 24-hour concierge, luxurious social lounge, health spa with steam room, sauna, screening lounge, coworking spaces, fitness centre, spin studio, children’s playroom, and outdoor terraces

• Global architectural firm IBI Group and interior design by Burdifilek

contact: EmblemDevCorp.com

location: 250 King E, Toronto

FIND YOUR NEXT HOME

BRAMPTON

1. Bristol place 199 Main St, North, Brampton

2. Duo condos Malta ave & Steeles Ave

CALEDON

3. Mayfield Collection 2256 Mayfield Road. Mayfieldcollection.ca

ETOBICOKE

4. Curio Condos 801 The Queensway marlinspring.com

5. Humberwood Heights 50 Humberwood Blvd. tributecommunities.com

MARKHAM/ UNIONVILLE

6. Panda Markham 8200 Warden Ave. lifetimedevelopments.com

7. Varley Condo Residences 20 Fred Varley tributecommunities.com

8. Canvas on the Rouge Donald Cousens Pkwy & Ninth Line flatogroup.com

9. Gallery Towers at Downtown Markahm 162 Enterprise Blvd. downtownmarkham.ca

10. Highmount 4077 Hwy. 7 highmountbykingdom.com

MISSISSAUGA

11. Birch at Lakeview Village Lakeshore & Dixie Rd. branthaven.com

12. Artform Condos 86 Dundas St. E. artformbyemblem developments.com

13. Exhale Condominiums Lakeshore Rd. East & Dixie Rd. exhalelakeshore.ca

NORTH YORK

14. Central Park Sheppard Ave. East & Leslie St. amexon.com

PICKERING

15. Vupoint Kingston Rd. & Liverpool Rd. tributecommunities.com

OSHAWA

16. U.C. Tower 2425 Simcoe St N,Oshawa tributecommunities.com

TORONTO

17. 111 River St. Condos 111 River St. lifetimedevelopments.com

18. Lawrence Hill Urban Towns

Don Mills & Lawrence lawrencehillurbantowns. com

19. 489 Wellington St. W. 489 Wellington St. W. lifetimedevelopments.com

20. 500 Dupont St. 500 Dupont St. lifetimedevelopments.com

21. Artistry Condos 292 Dundas St. W. tributeartistrycondos.ca

22. Panda Condos Yonge & Dundas. lifetimedevelopments.com

23. 36 Eglinton Ave. W. 36 Eglinton Ave. W. lifetimedevelopments.com

24. Linx Condominiums Danforth & Main tributecommunicties.com

25. Y&S Condos 2161 Yonge St. tributecommunities.com

26. 50 at Wellesley Station 50 Wellesley St. East pureplaza.com

27. No. 1 Yorkville 1 Yorkville Ave. pureplaza.com

28. Theatre District Residences

Adelaide & Widmer pureplaza.com

29. Bijou on Bloor 2450 Bloor St. West pureplaza.com

30. The Briar on Avenue 368 Briar Hill Ave. pureplaza.com

31. One Seventy Spadina & Queen St. West pureplaza.com

32. King West & Charlotte King St. West & Charlotte pureplaza.com

33. Forest Hill Private Residences 2 Forest Hill Rd.

foresthillresidences.com

34. Oscar Residences 500 Dupont St. W. at Bathurst oscarresidences.com

35. Kingside Residences Kingston Rd. & Danforth altreedevelopments.com

36. Allure Condominiums 250 King St. East emblemdevcorp.com

37. XO Condos King & Dufferin lifetimedevelopments.com

VAUGHAN

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

38. 225 Jarvis Street Condos Dundas St. East & Jarvis amexon.com

39. 316 Junction Condos Campbell & Dupont 316condos.com

40. The Residences of Central Park Sheppard Ave. East & Leslie centralparktoronto.com

41. The Dawes at Main Street Danforth & Main St. thedawes.com

42. Park Avenue Place

1 & 2 Jane St. & Rutherford Rd. solmar.ca

Guelph

FIND YOUR NEXT HOME

BURLINGTON

1. Affinity Condos Plains Rd. E. & Filmandale Rd. rosehavenhomes.com

2. Millcroft Towns Appleby Line & Taywood Dr. branthavenmillcroft.com

3. North Shore North Shore Blvd. & Plains Rd. nationalhomes.com

HAMILTON

4. 1 Jarvis 1 Jarvis 1jarvis.com

NIAGARA REGION

5. Lusso Urban Towns Martindale Rd. & Grapeview Dr. lucchettahomes.com

OAKVILLE

6. The Greenwich Condos at Oakvillage Trafalgar Rd. & Dundas branthaven.com

7. Synergy McCraney St. E. & Sixth Line branthaven.com

8. Upper West Side at Oakvillage 351 Dundas St. E. upperwestsidecondos2.ca

9. Greenwich Condos at Oakvilage Trafalgar Rd. & Dundas St. branthaven.com

10. Villages of Oakpark Dundas & Trafalgar ballantryhomes.com

STONEY CREEK

11. Casa Di Torre 980 Queenston Rd. branthaven.com

12. On The Ridge Lormont Blvd. & Chaumont Drive liveontheridge.ca

Brantford

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

Niagara Falls

Welland

SHOULD YOU ADD

TO YOUR HOME OR REBUILD?

Does your family need more living space than your current home provides? You may be wondering whether it’s better to build an addition or tear down and rebuild. There are many factors that need to be considered when making this decision, including your budget, the state of your existing home and regulatory approval processes.

Building an addition to your home may be the most practical, costeffective choice when you are only looking for a little more room. You may choose to extend the rear of your house to help make your ground floor living area larger. Or you could decide to build a second story, if your home can handle the additional load. A vertical addition can help you avoid costly work such as a new foundation.

Regulatory restrictions related to heritage, conservation or site density sometimes make it impossible to tear down a home and build a new one. Building an addition may simply be the only way to create more space.

There are situations when it makes more sense to demolish the existing home and rebuild. If your home’s structure does not meet today’s building standards for supporting a second floor, building new will help you avoid an expensive structural upgrade.

Similarly, when the layout of the home you want is dramatically different from the one you currently have, it can quickly become more advantageous to build new. There

is a tipping point at which the costs of changing your current layout would overwhelm the savings. In addition, working with an existing structure often means losing the opportunity for higher ceilings or a fresh start on floorplans.

And finally, your current home may simply be too costly to repair. When a home has undergone a series of renovations, it may present a number of construction challenges that need to be dealt with before creating the new envelope. If non-conforming work has been done on the house in the past, it will need to be brought up to current building code requirements, resulting in additional costs. Other considerations include a damp basement, the state of services (water, sanitary and hydro) to the home, and the general quality of existing finishes.

Your RenoMark renovator can help you decide whether building

an addition or rebuilding is the right choice for you. Working with a renovation professional who participates in the RenoMark program gives you peace of mind, because the RenoMark Code of Conduct requires that they offer a minimum one-year warranty on all work, carry a minimum of $2 million in liability insurance and provide a detailed written contract. Visit renomark.ca to find a RenoMark renovator near you.

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.

DAVE WILKES

SOPHISTIC ATED LIVING IN THE HEA RT OF OAKVILLE

1, 2 & 2-BEDROOM+DEN SUITES

Dundas and Trafalgar is buzzing. The newest landmark in downtown Oakville soars above the intersection, with incredible views of all that the city has to offer. Presented by Ballantry Homes, The Villages of Oak Park is a new, master-planned, multi-phased community coming soon to the neighbourhood of Oak Park. Select from luxurious 1, 2 and 2-bedroom+den suites. Enjoy the endless amenities offered to residents. Close to parks, trails, shops and restaurants, The Villages of Oak Park offers easy access to the QEW, Highways 403 and 407, and the Oakville GO Station. This is sophistication at a whole new level.

Limited Time Incentives & Extended Payment Structure Available