GTA Homes Magazine - December 16, 2023

Greater Toronto’s Finest NEW HOME GUIDE

Greater Toronto Area Dec. 16, 2023–Jan. 27, 2024

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INSIDE:

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DEC. 16, 2023–JAN. 27, 2024

CONTENTS COVER STORY

20

DUNSIRE DEVELOPMENTS TOP FIVE ISSUES DROWNING NEW-HOME BUYERS – AND HOW TO FIX THEM

DEPARTMENTS

COLUMNS

10

Editor’s Note

19

Stat Chat

11

In the Spotlight

Fall economic statement receives mixed reviews; more news on pages 14, 15 and 16

23

Legally Speaking

HOMES Online

26 Western View

18

Priorities and focus

Catch up between issues at nexthome.ca

FEATURES

36 Fieldgate Homes

Find your dream home in one of Fieldgate’s signature GTA communities

6

HOMES Magazine |

Dec. 16, 2023–Jan. 27, 2024

Why a Will and Powers of Attorney are so important

INSPIRATION

40 Decor

Give your walls a touch of personality

42 Big Style

Creating a Southwestern space to stay warm during the cold months

Home Realty

The gift of giving back this holiday season

30 TRREB Report

A pulse on the GTA rental and ownership market

31

Municipal boundaries in the GTA must be expanded to meet housing goals

Is this the great reset in new home prices?

Celebrating WEHBA leaders and membership

27

50 Industry Report

Personal Finance

Tips for buying a home in a higher interest rate environment

IN EVERY ISSUE

8

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

WESTERN VIEW | MIKE COLLINS-WILLIAMS Mike Collins-Williams, RPP, MCIP, is CEO West End Home Builders’ Association. westendhba.ca.

Natalie Chin 416.881.4288 natalie.chin@nexthome.ca EDITORIAL DIRECTOR

Amanda Pereira EDITOR-IN-CHIEF – GREATER TORONTO AREA

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, 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

BUSINESS DEVELOPMENT MANAGER

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

DISTRIBUTION

Josh Rosset

distributionteam@nexthome.ca ACCOUNTING INQUIRIES

accountingteam@nexthome.ca DIRECTOR OF PRINT MEDIA

Lauren Reid–Sachs

STAT CHAT | BEN MYERS

VICE-PRESIDENT, PRODUCTION – GTA

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.

PRODUCTION MANAGER – GTA

Lisa Kelly

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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GRAPHIC DESIGNER

Mike Terentiev

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EDITOR’S NOTE

PRIORITIES AND FOCUS

WAYNE KARL EDITOR-IN-CHIEF HOMES Magazine

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

+ get social 10

HOMES Magazine |

At the time of writing in early December, tree-felling began at Ontario Place as a first step in the controversial redevelopment there, the housing supply crisis in the province raged on and countless other issues faced the province.

Somehow, though, the provincial government deemed it suitable to begin its winter break a week early, suspending the legislature until late February.

Yes, more than two full months away from sitting and trying to solve some of the most difficult challenges we’ve ever faced (short of COVID, which some experts believe is making a resurgence).

Meanwhile, homebuilders and others with a vested interest in the housing industry in the province are struggling with a relentless conundrum – how to build the 1.5 million homes by 2031 that the government has pledged.

A new study by Malone Given Parsons Ltd. (MGP), commissioned for the Building Industry and Land Development Association (BILD) and the Ontario Home Builders’ Association (OHBA), underlines just how serious this challenge is. The report identifies that there is insufficient land within municipal official plans in the Greater Golden Horseshoe (GGH) and Greater Toronto Area to meet mid- and long-term population growth, jeopardizing the provincial homebuilding objective and undermining efforts to address housing supply and affordability.

“Given that the GTHA accommodates over 30 per cent of Canada’s immigration each year, because immigration is the primary driver of population growth in Canada, a shortfall of housing has national implications,” says Neil Rodgers, OHBA interim chief executive officer. “The province has a policy statement to guide development for future growth. It commissioned extensive growth and housing requirement projections to help plan to 2051. This study demonstrates that by ignoring its own policies and projections, decisions made today are going to have far-reaching implications and show that we will be in a demand/supply imbalance for decades to come – continuously pushing prices up. If we’re to address the affordability crisis now, we need solutions that increase supply, promote transit supportive densities and housing choices on shorter timelines.”

“Ignoring its own policies and projections…” Given the housing crisis that, in the provincial government’s own recent words, necessitates a “war-time effort” to solve, this seems like a worthy cause to remain laser focused on.

Not take an extended winter vacation.

In the meantime, BILD and the OHBA are calling on Ontario and municipal governments across the province to ensure that housing affordability and supply are addressed by making sufficient lands available for a marketbased supply of housing. In addition, they are calling on the government to establish a transparent, modern and stable planning system to realize the forecasted growth in the GGH.

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Dec. 16, 2023–Jan. 27, 2024

IN THE SPOTLIGHT

FALL ECONOMIC STATEMENT RECEIVES MIXED REVIEWS Measures rolled out in the federal Fall Economic Statement on Nov. 21 are a step in the right direction towards tackling the most critical housing crisis in generations, but the federal government can and must do more, according to the Residential Construction Council of Ontario (RESCON).

“Billion-dollar fixes are being proposed, but the housing supply crisis and affordability issue is a trillion-dollar problem, as noted by the CMHC,” says RESCON President Richard Lyall. “We are encouraged that housing is a main focus of the feds, but there are still many impediments that were not addressed, such as the enormous infrastructure funding gap faced by municipalities that impedes new home construction. We need a Marshall plan-styled strategy with respect to the chronic housing supply shortfall.”

RESCON was pleased the government announced $15 billion in new loan funding for builders of rental properties and $1 billion to support the building of affordable housing, as well as a mortgage charter that will clarify rules for homeowners who are facing renewals and ensure that lenders have appropriate mortgage relief policies in place for consumers facing hardship.

“These measures are commendable as they will have a positive impact on homeowners who are looking at hefty increases in their mortgage payments,” says Lyall. “We are also encouraged at measures to spur rental housing construction by offering builders loans that have favourable terms.

“However, many impediments to housing construction were not addressed, such as reducing taxes associated with purchasing a home and the unacceptably long approvals process that builders must endure when starting a project.

Without tackling these issues, and

the huge infrastructure funding gap being faced by municipalities, the housing problem will not be solved.

Municipalities are in a challenging position and the feds must pick up the slack by funding the necessary public infrastructure to support housing.”

Municipalities have very limited means to fund housing-related municipal infrastructure and rely on revenue tools such as development charges. However, taxes, fees and levies now add up to 31 per cent to the cost of a home for new buyers. If a consumer buys a $1-million home, that means they’re paying $310,000 in taxes, fees and levies. When that is amortized over the life of a mortgage, it amounts to hundreds of thousands of dollars in interest. The federal government receives 39 per cent of tax revenue from new housing, yet only seven per cent of every dollar is invested in infrastructure in Ontario, RESCON says.

“The federal government is uniquely positioned to take action on these issues and bring down the cost of rental and ownership housing,” adds Lyall. “It is imperative that the feds step up to the plate and do what is right to make housing more affordable for Canadians.

RESCON will continue to press for more expansive and impactful policy

and funding measures. Our future depends on it.”

Meanwhile, the Toronto Regional Real Estate Board (TRREB) applauds the economic statement, saying it offers several important housingfocused initiatives. The association says it commends the federal government for listening to many industry stakeholders, including TRREB, in establishing a new Canadian Mortgage Charter. This initiative significantly includes the removal of the stress test requirements for insured mortgage renewals in cases where a borrower is switching lenders, something TRREB has been calling for in recent years.

Since the mortgage stress test was introduced in 2016, borrowers who switched lenders when renewing their mortgages were not exempt from the stress test qualification rule, which in today’s high interest rate environment is approaching eight per cent. This is a positive change to the current mortgage stress test requirements, with close to 60 per cent of Canadian mortgages coming up for renewal in the next three years. This measure will give homeowners more flexibility to shop for the best possible rates and products, helping them save money during a time of heightened affordability challenges, TRREB says. nexthome.ca 11

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IN THE SPOTLIGHT

CANADIANS REMAIN CONFIDENT IN HOMEOWNERSHIP: REMAX Canadians’ outlook on homeownership remains positive despite challenging market conditions in 2023, including a supply shortage and a tricky interest rate environment, according to the ReMax 2024 Housing Market Outlook Report.

The majority of Canadians (73 per cent) are confident that homeownership is the best investment, a sentiment that remains unchanged year-over-year. Looking ahead, the ReMax network of brokers and agents expects the market to be slightly more active in 2024, with national average residential sale prices likely to increase by 0.5 per cent and 61 per cent of regions surveying anticipating unit sales to increase in 2024.

“It’s been a challenging year for Canadian homebuyers and sellers, who have been feeling the effects of a severe housing shortage and the high cost of living, but much like Canada’s housing market, Canadians have stayed resilient,” says Christopher Alexander, president, ReMax Canada.

“Historically, real estate has given owners excellent returns and strong financial security – and that hasn’t changed. The slower market we’ve been experiencing across the country this fall could be an early indicator of an active 2024, as reflected in the modest price increase and sales outlook for next year, and the balancing of conditions in several regions across the country.”

CANADIAN CONSUMER INSIGHTS

According to a Leger survey commissioned by ReMax Canada as part of the report, the majority of Canadians (72 per cent) believe that as municipal, provincial and federal governments make plans to increase housing supply, it’s important that they consider the diversity of the new housing that’s developed.

When it comes to homebuying trends in 2024, the Leger survey 14

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Dec. 16, 2023–Jan. 27, 2024

reveals that more than four in 10 Canadians believe climate change will impact their decision on where to buy a home next year (41 per cent); while approximately one in five (21 per cent) are exploring alternative homeownership, or opting for interprovincial/city moves (17 per cent) in search of greater affordability in the neighbourhood they love.

ONTARIO MARKET INSIGHTS

Average residential prices are a mixed bag in Ontario, according to the report. Specifically, prices are anticipated to increase by two per cent in Thunder Bay and Ottawa; three per cent in London; 3.5 per cent in Hamilton, Niagara and York Region; four per cent in Sudbury and Burlington; 4.5 per cent in Kingston; five per cent in Muskoka and Haliburton; seven per cent in Oakville and Simcoe County; and 7.5 per cent in Windsor and Sault Ste. Marie.

Meanwhile, prices are anticipated to remain unchanged in Mississauga, Brampton, North Bay and Kenora

in 2024. Looking ahead to 2024, Peterborough and the Kawartha’s and the GTA are both anticipating a slight decline of three per cent in average residential prices, while Durham Region and Grand Bend are anticipating a decline of five per cent.

Kitchener-Waterloo is anticipating a decrease of eight per cent in average residential sale prices.

Despite cost of living becoming a more prominent consideration for homebuyers and sellers, additional emerging liveability trends in Ontario include the desire for greater access to public transportation and greenspace, as well as proximity to preferred schools. Cost of living and interest rates are the most prominent factors impacting Ontario markets, the report says.

These factors are leading many Canadians to become resourceful and focus their homebuying search on properties that can accommodate additional tenants, as a means to offset mortgage costs and ongoing affordability challenges.

IN THE SPOTLIGHT

GERANIUM LAUNCH AT CLAREHAVEN ESTATES MEETS WITH STRONG DEMAND A new offering of 70 estate homes set on lots of up to one acre each has generated great excitement among homebuyers, in an otherwise lacklustre market. Renowned community developer and newhome builder Geranium sold more than 50 per cent of the homes within 10 days of the recent sales launch at Clarehaven Estates in the Hamlet of Claremont.

The brand-new portfolio of bungalows, bungalows with lofts and two-storey residences in North Pickering priced from the low-$2 millions, is meeting pent-up demand from families eager to purchase a home designed for modern living and accommodating multigenerational families comfortably.

Many homebuyers are from Durham and York Regions, as well as areas farther afield.

“In the current market climate, where many potential purchasers have chosen to sideline their buying decision due to interest rate hikes over the past year and a half, this is a tremendous response,” says Stephanie Lane, director, sales and marketing. “The success is the culmination of our strong brand reputation, a great location surrounded by nature and rich in nearby amenities, large lot sizes rarely seen in today’s new communities, and beautifully designed homes with tons of optionality to suit a wide array of homebuyer preferences. It’s highly rewarding to see the response to a luxury home offering during this time.

Demand we’ve experienced informs us that homebuyers are acclimatizing to current interest rates, which are not unreasonable when you look at rates over the past 30 years.”

The allure of an estate lot, luxury design features and market appropriate pricing is the trifecta

of success for Clarehaven. Home sizes range from 2,557 to 5,149 sq. ft. with an array of options, including lofts, elevators, media rooms, offices and five-bedroom plans. Geranium includes standard features such as extensive rear yard loggias, threecar garages, bedrooms with private or shared ensuite, and elevated interior finishes such as 10-ft. main floor ceiling heights, EV charger and grey water rough-in, oak hardwood flooring and staircase, elegant cabinetry and marble or quartz stone countertops add to the built-in value of each home.

“We’ve wanted a larger property for a few years,” says Clarehaven Estates purchaser P.K., a repeat Geranium buyer. “Finding a community of lots of this size with such exciting home designs to choose from, made Clarehaven Estates an easy decision for our family. Claremont is a quiet country town, but also close and convenient to everything we need.”

Homeowners can experience the best of country living surrounded by lush natural landscapes, wildlife and picturesque scenery just a few minutes drive to shopping, golf, ski resorts, hiking trails and MarkhamStouffville Hospital. In addition, Toronto is only a 30-minute drive easily accessed via nearby Hwy. 407, and Clarehaven Estates is near GO Transit and bus service offering unbeatable connectivity.

Claremont itself is home to an elementary school, daycare centre, recreation centre and library, veterinary services, general store, fire station and many more daily conveniences. Historically, Claremont is known for being the birthplace of famous Canadian landscape painter Tom Thomson, who influenced the work of the Group of Seven.

For more information and to register, visit geranium.com. nexthome.ca 15

IN THE SPOTLIGHT

ONTARIO’S PROJECT OF THE YEAR OFFICIALLY BREAKS GROUND The award-winning condominium project at 491 Plains Rd. E., Northshore Condos, has officially broke ground in Burlington. The development team was joined by Councillor Kelvin Galbraith of Burlington’s Ward 1 – where the project is located – to celebrate this exciting milestone with the community.

Developer National Homes has been dedicated to the region for many years, creating numerous communities throughout Toronto’s west end and expanding across the GTA in search of the best locations to live.

Northshore is the latest in their quest for perfection, introducing a striking collection of modern condos to Burlington’s north shore where LaSalle meets the harbour. This walkable location brings amenities within arm’s reach, allowing future residents to access the full breadth of urban connections while surrounded by natural greenspace, with the lake on the horizon and fairway at their feet.

At this year’s Ontario Home Builders’ Association’s Awards of Distinction, Northshore took home the gold with its success in winning

Mid or Highrise Project of the Year.

The annual Awards of Distinction is a program which celebrates the best developers, projects and designs across Ontario. As Project of the Year, Northshore is the face of excellence in condo design, recognized as the best of its class in the entire province.

Its bold modern style and livable suites combine with a rich array of amenities designed for both work and play, seeking to enhance the lifestyle of residents on all fronts.

“It was such an honour being recognized for such a prestigious award,” says Jason Pantalone,

president and CEO of National Homes. “Achievements of this scale can only be accomplished with the endless efforts and support of all of our staff, partners and communities, and it’s their commitments that have made Northshore such an incredible success.”

Northshore boasts a boutique collection of one-bedroom suites starting from the $600,000s, with two- and three-bedroom suites also available. mynorthshore.ca nationalhomes.com

TRREB SUPPORTS NEW DEAL BETWEEN TORONTO AND ONTARIO The deal recently announced by Ontario Premier Doug Ford and Mayor Olivia Chow demonstrates a strong commitment to helping the city achieve long-term financial stability and sustainability, according to the Toronto Regional Real Estate Board (TRREB).

TRREB says it strongly supports the commitment from the Province and the City to advance transit, build more homes and leverage surplus land 16

HOMES Magazine |

Dec. 16, 2023–Jan. 27, 2024

to boost affordable rental units and attainable housing.

“Now that Toronto has more financial support from the Province, the City should look to reform the Municipal Land Transfer Tax (MLTT), starting with providing relief to firsttime buyers,” says TRREB President Paul Baron. “The MLTT is a soulcrushing tax for first-time buyers and new Canadians. It puts sand in the gears of our local housing market and

takes thousands of dollars out of the pockets of first-time buyers when they can least afford it.”

TRREB says city council should increase the rebate threshold to $750,000 and give first-time buyers a much-needed break. Alongside measures to boost housing supply, an increase to the rebate for first-time buyers would make an immediate difference in the lives of those in the market for a home.

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

Lucchetta Homes crafting dream homes and communities in Niagara For new-home buyers seeking a better lifestyle in Niagara, many look to well-established homegrown builders with longstanding track records developing communities here. Lucchetta Homes stands out as one of the most respected builders in the area.

HOUSING POLICY

FOCUS ON NIAGARA

INSIGHT

Niagara Region – where it’s about a lot more than the Falls Niagara Region often inspires thoughts of mostly the Falls themselves, those natural wonders to which a visit never grows old. But beyond the aweinspiring beauty and power of the Falls and the Niagara River, the area offers a lot more that’s worthy of just a weekend getaway.

Adjusting HST rebate thresholds would provide relief for new-home buyers Recent changes significantly improve the financial feasibility of building new homes. Now the federal government should focus on keeping a 32-year-old promise to adjust the price thresholds for the GST/HST new housing rebate program.

Building industry raises concerns over recent Ontario government housing decision The Building Industry and Land Development Association says it is “extremely disappointed” with the recent announcement by Ontario Minister of Municipal Affairs and Housing, Paul Calandra, and calls it a setback for the Greater Toronto Area’s GTA future housing and employment spaces supply.

HOUSING SUPPLY

Addressing housing affordability in the GTA Toronto is facing heightened housing affordability challenges, and people looking to rent or buy need a mix of housing types that addresses the lack of affordable supply.

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ADVICE | STAT CHAT

ARE WE EMBARKING ON

THE GREAT RESET IN NEW HOME PRICES?

BEN MYERS

After decades of continuous price growth for new housing across the Greater Toronto and Hamilton Area (GTHA), many buyers thought pricing would never go down. However, the landscape has changed dramatically in 2023. The average asking price for new single-family homes in the GTHA has fallen by 30 per cent annually from the 2022 market peak of $2.48 million down to $1.74 million. Similarly, the condominium sector experienced a notable 26-per-cent decline yearover-year to $1.2 million, while new townhouses witnessed a 10-per-cent dip annually, settling at $1.26 million.

Before one jumps to the conclusion and declares the market is crashing, let’s delve deeper into this data.

In 2022, ultra-low interest rates fueled demand, while inflation was spiking costs for developers, leading to unprecedented growth. The 10 interest rate hikes have taken a bite out of demand. At the same time, several construction projects have been completed, which has eased construction costs marginally.

However, it’s still important to try to “control” for various factors such as unit size and geography to give us a more apples-to-apples view of the current market: • In the amalgamated city of Toronto, average unsold asking prices for single-family and townhouse product (low-density housing) were actually up by nearly six per cent annually so far in 2023, at $1,152 psf.

• In the city of Toronto, per-sq.-ft. pricing for new condos increased by

nearly 14 per cent in 2022 to $1,637 psf. Prices have fallen two per cent through the first 10 months of 2023 to $1,607 psf. With the caveat that there are also a lot of incentives currently available.

• Despite the recent small decline in new condo prices, the longrun data shows that in 2019, the average asking price psf for twobedroom plus den units is up 50 per cent, one-bedroom plus den units have increased by 46 per cent, one-bedrooms 35 per cent, two-bedrooms 34 per cent, three-bedroom units 31 per cent, and studios have increased by 24 per cent.

Another factor for investors to consider beyond pricing is the rental rates for newly completed condominiums, which have seen rents rise in 2023. One- and twobedroom condo rents are up six and four per cent, respectively, over 2022.

Despite affordability concerns, high borrowing costs and resale market uncertainty are keeping tenants in the rental market, with a clear affinity for well-located, modern and highlyamenitized buildings.

On a recent episode of my podcast Toronto Under Construction, experts Harley Nakelsky, president of Baker Real Estate, and Erin Millar, chief marketing officer from Marlin Spring, did express optimism for the market as we advance into 2024. Both felt that developers holding off on launches or placing fewer units for sale created a sense of product scarcity. Nakelsky felt that if the Bank of Canada holds interest rates, with no more hikes, he expects a market rebound in six to eight months. During this conversation, the guests felt that with high immigration, low unemployment and the simple fact that the market is

under-supplied with housing, prices are bound to start growing again.

Millar also mentioned that major housing producers such as Marlin Spring “... released fewer projects this year, and the ones we are bringing to market are a little more risk averse at this time.” This means developers held off on opening sales on some of their larger, more premium developments in 2023. If there had been more premium launches, even high-profile launches at discounted pricing, the price growth may have been positive this year, as opposed to the aforementioned twoper-cent drop.

Returning to our initial inquiry regarding a market reset: Undoubtedly, the trajectory of pricing growth reached a plateau in 2022.

However, astute investors, especially those with a penchant for extended holds, stand at a unique vantage point: Leverage in the buying process.

The potential for discovering highquality deals that may yield dividends five years and beyond becomes apparent in the wake of unbalanced market dynamics that favour buyers.

Success in seizing these prospects requires meticulous research, coupled with consultations with seasoned investment professionals, mortgage brokers and real estate agents.

Good luck.

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.

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nexthome.ca 19

COVER STORY

SINK OR SWIM?

TOP 5 ISSUES DROWNING NEW-HOME BUYERS – AND HOW TO FIX THEM Many Canadian homeowners have been feeling like they’re in hot water.

With each new interest hike, banks are turning up the heat on an already drowning market, leaving buyers and sellers alike struggling to keep their heads above water and get the value they deserve.

If there’s one thing the market tells us right now, it’s that homebuyers are both stressed and afraid. Inventory is low, leaving you feeling like there are no options.

Interest rates are rising. Mortgages are harder than ever to obtain.

How can you confidently make the life-changing decision to buy a new home today?

20 HOMES Magazine |

Dec. 16, 2023–Jan. 27, 2024

Statistics tell a scary story. Even people who have taken the leap and successfully bought a new home in pre-construction are facing uncertainty and sleepless nights. We hear the same story repeated in the news, as some buyers are walking away from sales before their home is even completed, some even leaving their deposits behind in the process.

But what exactly is it pulling homebuyers underwater – and more importantly, how do we fix it? Dunsire Developments has come up with a unique new solution to keep you afloat, but first we’ll show you five secrets to finding hope in your home buying journey.

1 – LIMITED HOMES, LIMITED OPPORTUNITIES

If you’ve started looking for a new home recently, you’ve been here. You start your house hunt only to find that not only are there few homes on the market, but there are even fewer within your budget. And none of them are close to where you work, where you want to live, or even suit your style.

The 2023 Ontario housing plan is titled “More Homes, More Choice,” highlighting how essential it is to provide not only more homes to meet the needs of an increasing population, but giving potential buyers the opportunity to own in a place that actually meets their needs instead of making compromises just to get their foot in the door of homeownership.

The very first part of Ontario’s plan to improve housing affordability is to increase supply. Not only does this satisfy the first stipulation in “supply and demand,” effectively lowering costs with lower strain on the market, but it gives you more choice in where and how you live.

2 – RAPIDLY RISING RATES

It’s no secret. Everyone who owns property – or is hoping to get into the market – has been biting their nails as the world watches numbers tick upwards. For more than a decade, lenders’ prime rate floated

around three per cent. In summer of 2022, the Bank of Canada opened the floodgates, with the rising tide bringing interest rates up to 7.20 per cent in less than a year.

But there’s a light on the horizon: Many economists feel that rates have reached their peak. And Canadian Finance Minister Chrystia Freeland has put forward a charter to pressure Lenders into working with Canadians when negotiating mortgage terms.

These suggested guidelines will help give Canadian homebuyers breathing room, with extended amortization

periods, waived fees and stress test modifications.

3 – DEVASTATING DEPOSITS

With prices going up, the deposit to purchase a home is only growing.

For many buyers, that much liquidity feels impossible to come by without existing home equity. It’s harder than ever to save for your first home.

As of October 2023, the Ontario Real Estate Association (OREA) says the average home price in Ontario was approximately $879,300. The minimum deposit on a home of that price runs you $62,930. And let’s face it – who has that kind of cash lying around?

Pre-construction homes give buyers a bit of relief, often offering flexible extended deposit structures in order to alleviate some of the strain on your wallet, but many buyers need a home here and now, not in three to five years. Thankfully, there’s relief for resale purchasers, too.

What many people don’t know is that the Canadian Government will allow you to use funds saved up in your RRSP to help pay for the deposit on your home. This is known as The Home Buyers’ Plan, and it gives you more flexibility to get the liquidity you need. You can learn more at canada.gov. nexthome.ca 21

4 – STRESSFUL STRESS TESTS

Nothing makes a potential buyer sweat quite like the test. Is your salary high enough? Are your car payments too high? Are you frugal enough?

How’s your credit score? These are the things that keep you up at night, wondering whether your lender will consider you financially stable enough to qualify for your mortgage payments.

Thankfully, you don’t need to do it alone. More and more Canadians grapple with their finances solo – or consider buying with a roommate – instead of the simpler alternative.

Having someone co-sign for your mortgage adds a level of security to your lender, providing the stipulation that in the worst-case scenario your co-signer will support the payments.

This may help when you need that extra confidence for the stress test, are new to Canada, don’t have sufficient credit history, or just not quite enough income to get the loan on your own.

5 – MONTHLY MORTGAGE BILLS

The lower your deposit, the higher your monthly mortgage. It’s a simple calculation, but a daunting one.

Statistics Canada reports that more than one in four Canadians are struggling to make ends meet, and the current housing climate threatens to bring that number even higher.

But there are ways to provide relief to your mortgage payments.

Many people seek to rent out a bedroom or basement to help meet 22 HOMES Magazine |

Dec. 16, 2023–Jan. 27, 2024

their monthly bills. Some are even considering investing in full secondary suites or accessory dwelling units (ADU), to maintain their own independence while dipping their toes into the pool as landlords.

A DIFFERENT SOLUTION

Hearing the concern in people considering purchasing a new home, Dunsire Developments has come up with a solution. In partnership with RBC Royal Bank preferred mortgage financing solutions, Dunsire has created the LifeSaver Mortgage Program, offering real mortgage cash flow assistance to make a real change in the lives of our buyers.

Don’t be gimmicked by yet another cash-back-on-close incentive, which

barely affects your monthly cash flow.

This offer is a true $1,000 cash per month from Dunsire Developments for up to 24 months after your closing date. Talk to a Dunsire Developments sales agent today and learn more about how we put cash into your cash flow.

And to provide even more security and peace of mind, RBC is offering preferred mortgage financing solutions for purchasers of Dunsire homes. Not only are they offering guaranteed approval of the mortgage for 24 to 36 months* from the time of application, but RBC offers firm and final mortgage approvals for the purchase of your Dunsire home.

Once approved, you stay approved.

You may even get approved for a capped interest rate from RBC Royal Bank for 24 to 36 months. And when buying a Dunsire home with an ADU, you may be able to include your potential rental income when qualifying for your mortgage. Talk to an RBC Royal Bank mortgage specialist for more information.

For more information, visit dunsire.com. *Applies to selected properties only and subject to meeting credit criteria of RBC Royal Bank. Mortgages may only be default insured if the closing date is within 24 to 36 months of approval.

Personal lending products and residential mortgages are offered by Royal Bank of Canada and are subject to its standard lending criteria.

Trademark(s) of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada.

All other trademarks are the property of their respective owner(s).

ADVICE | LEGALLY SPEAKING

A WILL AND POWERS OF ATTORNEY: WHY THEY ARE SO IMPORTANT

JAYSON SCHWARZ, LLM AND JACQUELINE MONETA, JD

It may not be top of mind on a daily basis, but estate planning is one of those important tasks that you absolutely must make time for. Making a will is actually much easier and less complicated than it may seem when you work with an experienced lawyer.

With families now coming in so many different shapes and sizes, your lawyer can help your blended family answer important questions like reviewing your obligations to legal spouses, ex-spouses, separated spouses and common law spouses.

They can also advise you with respect to obligations for your children and step children, which may help avoid conflicts down the road.

If you have loved ones with disabilities, it’s especially important to plan for their unique needs. Your advisors can assist with all aspects of setting up the right plan for the care of your dependent with a disability in the event of your death. It’s not one-size-fits-all when it comes to planning for family with disabilities.

It’s important to arrange for the financial and personal care of your loved ones, and this involves both legal and practical considerations. In these cases, a Henson Trust is often required to provide for specialised care of your disabled family member as the future unfolds.

As we plan for a future after we’re gone, one critical issue is appointing

someone who will administer our estates. Who will be in charge? The responsibility for distributing your assets according to your wishes or administering the distribution of income and capital from a trust are serious considerations. Speak to your accountant and lawyer, and have an open discussion with your family to achieve the best results.

Today, most people also have family and assets spread out in different jurisdictions around the world. Now is the time to plan what happens to your bank accounts or real estate holdings in other countries.

Importantly for your beneficiaries, it’s also crucial to plan for tax burdens as these vary significantly depending on the locations of the assets or beneficiaries. Tax planning to recognize whether there is a Tax Treaty; whether there will be double taxation and other considerations mean you need to consult with your professional advisors to figure this out in advance and not leave problems after you’re gone.

When you’re making your will, you also need Powers of Attorney (POA).

What is that exactly? A lot of people wrongly refer to them as living wills.

What a POA does is puts someone in charge if, heaven forbid, you are no longer capable of running your affairs or looking after yourself. We never know when something might happen, and then it is too late to provide.

This is very important to protect yourself and those you love from the insecurity of not knowing who has to make the hard choices. There are two POAs – one for property of all kinds, and the other for personal health. You need your bills paid and someone to make life decisions.

While planning a will or POA can seem daunting, in reality, it’s typically a quick process and can provide great peace of mind. Be sure to work with an experienced estate lawyer who understands your unique needs. So, take this as your reminder to stop procrastinating, and call your lawyer today.

Jayson Schwarz LLM is the Senior Partner and Founder of Schwarz Law Partners LLP, and Jacqueline Moneta is the head of the Commercial Law Section of the firm.

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nexthome.ca 23

building small town canada.

We start with location. We let the land decide what our communities should look like.

We create simple yet remarkable amenities to bring families together. That sense of place helps to determine the design and character of each community’s Master Plan.

Ask yourself if what you’re looking for is a place to live – or a place to Live Remarkably.

BLUE MOUNTAIN

|

COLLINGWOOD

|

CRAIGHURST

|

HORSESHOE VALLEY

georgiancommunities.ca

ADVICE | WESTERN VIEW

WEHBA PRESIDENT’S GALA:

CELEBRATING TERRI JOHNS MIKE COLLINS-WILLIAMS

The West End Home Builders’ Association recently held its annual President’s Gala in Hamilton to celebrate the hard work and success of the association and Terri Johns, 2023 WEHBA president.

Johns started her presidency in January 2023, but has been deeply involved with the association through her participation in the board of directors and her exemplary volunteerism during the difficult years of the pandemic. Johns is the founder and president of T. Johns Consulting and has been a leader in the industry for decades. Her expertise has been crucial to the association’s success and her commitment to the industry is unparalleled. She is a devoted community champion, currently volunteering as president of both the WEHBA and the YWCA Hamilton.

Ever year, the WEHBA president selects a cause they would like to support through fundraising at the Association’s events. John’s charity of choice for 2023 was the Bob Kemp Children’s Hospice.

Despite the privilege of a world class children’s hospital (McMaster Children’s Hospital), the Hamilton region is the only one in Canada that does not have complimentary children’s hospice care associated.

A campaign to raise $25 million to build a children’s hospice, offering care for children at the end of the life, respite and pain and symptom management services as well as grief and bereavement supports, was critical. Through the support and generosity of the WEHBA members, the association was able to raise and donate $10,000 to the Kemp Care Network.

The Annual President’s Gala is one of the largest and most popular events of the WEHBA. This year’s emcees – Dan and Dani Gabriele from Marz Homes – made the event extra special with their quick-witted humour, refined dance moves and an unforgettable entrance featuring the Burlington Teen Tour Band. This year’s President Gala was presented by RBC and Reliance Home Comfort.

During the event WEHBA also recognized the efforts of very hardworking members and friends of the building industry. The following is a list of this year’s award recipients: 1. DISTINGUISHED SERVICE AWARD - BUILDER MEMBER

3. RENOVATOR MEMBER OF THE YEAR

Phil Authier, IntegriMark Inc. 4. THE KEVIN MCINTOSH MEMORIAL AWARD FOR THE UNDER 40 YOUNG PROFESSIONAL OF THE YEAR AWARD

Natasha Paikin, New Horizon Development Group 5. ENVIRONMENTAL LEADERSHIP AWARD

Indwell 6. PRESIDENTIAL AWARDS

Robert Molinaro, Molinaro Group Bianca Bruzzese, BDO Canada LLP Dani Gabriele, Marz Homes David Ionico, McHugh Whitmore LLP Through the years, the devotion and commitment of industry champions such as Johns and other distinguished WEHBA members has led the association to continued growth and tremendous success. The heart and soul of every non-profit organization such as WEHBA is its members and every association’s prosperity, and stability heavily relies on their support. Over the past 80 years, WEHBA has had the pleasure and privilege to be surrounded by the finest, most dedicated industry professionals and by looking at the new crop of young professionals embracing leadership roles, the future of WEHBA can only be bright.

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

Rosehaven Homes Ltd. 2. DISTINGUISHED SERVICE AWARD - ASSOCIATE MEMBER

Robert McLaren, A. T. McLaren Ltd. 26

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Dec. 16, 2023–Jan. 27, 2024

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ADVICE | HOME REALTY

SPREADING HOLIDAY CHEER:

THE GIFT OF GIVING BACK DEBBIE COSIC

In times of economic uncertainty, the instinct for self-preservation can be overwhelming. The natural response is to tighten our belts, focus on our own needs and navigate through adversity as best we can. However, amidst the challenges of a struggling economy, the importance of giving back becomes even more pronounced.

In times of economic hardship, jobs become scarce, businesses struggle to survive, and the overall well-being of the community is compromised.

Acts of generosity, whether big or small, contribute to building community strength and resilience.

By supporting local initiatives, charities and community programs, individuals create a network of support that helps everyone weather the storm together.

The Children’s Aid Foundation is a non-profit organization dedicated to improving the lives of children and youth facing adversity in Canada.

Committed to ensuring that every child has the opportunity to reach their full potential, the foundation focuses on providing support in areas such as education, healthcare and mental well-being. Through various programs and initiatives, the Children’s Aid Foundation works tirelessly to break down barriers that hinder the development of vulnerable children, offering a helping hand when they need it the most. By partnering with communities, donors and volunteers, the foundation

creates a network of support that empowers young individuals to overcome obstacles and build a brighter future. Their unwavering dedication to the well-being of children reflects a commitment to fostering resilience, hope and a sense of belonging among those who need it most.

At In2ition Realty, prioritizing and supporting charities remains a cornerstone for our team, and this commitment holds true for the current year, just as it has in previous ones. Introduced to the Peel CAF charity in 2020, we have successfully raised more than $100,000 over the past three years. These funds provide presents and essential food items for children and families facing economic hardships.

On Saturday, Dec. 9, In2ition Realty hosted a Meet & Greet with Santa at our head office in Mississauga. Guests

embraced the spirit of the season with loved ones and contributed to a meaningful cause.

You can still make a donation to the Holiday Wishes for All Campaign at donorperfect.com.

In the face of economic downturns, the act of giving back stands as a testament to the indomitable spirit of humanity and the belief that, together, we can overcome even the most challenging circumstances.

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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WELCOME TO

FINAL RELEASE AT H U N T E R S P O I N T E

SINGLES

TOW N S

CANAL & RIVERSIDE LOT S AVA I L A B L E

Last chance to own in this prestigious,

award winning community!

W H E R E E V E RY D AY I S A N A DV E N T U R E WA I T I N G TO U N F O L D. Live your best life at WaterCrest in Hunters Pointe active adult community in Welland. Enjoy a vibrant lifestyle with hiking trails, tennis, community centre, nearby golf, amenities and so much more.

Lucchetta Homes’ open-concept designs define luxury. Don’t miss your last chance to own in this incredible canalside community.

Register Today at

LucchettaHomes.com/watercrest Renderings are artist’s concepts are subject to change and may vary slightly from the final product. E.&O.E.

ADVICE | TRREB REPORT

TRREB: A PULSE ON THE GTA RENTAL AND HOMEOWNERSHIP MARKET

High interest rates and economic uncertainty are keeping first-time buyers from moving off the sidelines and into the homeownership market.

But overall demand for housing is still strong thanks to record population growth and a relatively resilient economy. However, more of that demand has been pointed at the rental market.

transactions over the past year. Many investor-owned units have been listed for rent, in response to very strong rent growth and, quite possibly, the actual or potential introduction of tighter regulations surrounding vacant units and short-term rentals. Despite a better-supplied market, competition between renters has remained strong enough to sustain above-inflation rent increases.

Renters can expect this trend to continue for the foreseeable future, underpinning the need for a sustainable pipeline of rental housing supply.

RENTING

HOMEOWNERSHIP

Would-be first-time buyers, who have seen affordability erode over the past year-and-a-half due to high mortgage rates, have remained in the rental market. Many new permanent and temporary residents have also turned to the rental market for housing, at least initially.

The supply of units for rent has increased at a faster pace than rental

In October, the GTA real estate market revealed home sales were down, but prices held up relative to last year in many market segments.

Competition between buyers remained strong enough to keep the average selling price above last year’s level in October and above the cyclical lows experienced in the first quarter of this year. The Bank

PAUL BARON

30 HOMES Magazine |

Dec. 16, 2023–Jan. 27, 2024

of Canada also noted this resilience in its October statement. However, home prices remain well-below their record peak reached at the beginning of 2022, so lower home prices have mitigated the impact of higher borrowing costs to a certain degree.

Home sales will pick up quickly when mortgage rates start trending lower, likely in the second half of 2024, and buyers will experience much more competition in the absence of a marked improvement in the supply of listings.

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

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ADVICE | PERSONAL FINANCE

TIPS FOR BUYING A HOME IN A HIGHER RATE ENVIRONMENT

JESSE ABRAMS

In today’s economic landscape, marked by higher interest rates and inflation, the decision to invest in real estate can be complicated and isn’t always a simple yes or no. It’s about uncovering opportunities that can sometimes arise in markets where conditions are less favorable.

eager to close deals. This gives buyers negotiating power and the ability to buy a property with more of what they want and need than less.

For instance, negotiating a lower price, paying for home repairs and improvement, or other beneficial terms or terms and concessions.

As you can see, a higher rate environment can be leveraged in the buyer’s favour.

PRICE VS RATE DIFFERENCES CAN ACTUALLY LEAD TO SAVINGS

When interest rates rise, this will often lead to a drop in housing prices.

As rates go up, the pool of buyers decreases, which often leads to a decline in home prices. If you have excess funds or are in a financial position to invest, this can present a unique buying opportunity. Although the cost of borrowing is more expensive, buyers can purchase a property at a significant discount that might not be possible in a lower rate environment.

We can’t deny that higher interest rates result in higher monthly mortgage payments, which impacts affordability for both existing homeowners and prospective buyers. However, a lower purchase price can not only help to offset this monthly cost, it can drastically lower the cost of ownership overall.

When you calculate the total cost of owning your home for the time period you plan to live in the property, sometimes paying more each month at a significantly lower property price can make sense over the long term.

LESS COMPETITION IN THE MARKET

HERE’S A QUICK CALCULATION:

With the pool of buyers much smaller given higher rates, there is a lot less competition in the housing market.

With fewer buyers, bidding wars and the chances of overpaying for your home are a lot less slim compared to a couple years ago. These conditions favour the buyer because they have a lot more negotiating power and a better chance to purchase their desired property at a reasonable price and within budget.

If a home is priced at $900,000, with a mortgage of $720,000 (20-per-cent down payment) when interest rates were low at 2.5 per cent, monthly mortgage payments would be roughly $3,250. After a five-year mortgage term, the remaining mortgage would be roughly $610,000.

As interest rates increase, home prices have been dropping 10 to 20 per cent. If we take 15 per cent off the price above, it will be $765,000.

With a 20-per-cent down payment, this nets to a $612,000 mortgage.

With an interest rate of 5.6 per cent, monthly payments will be $3,795. The remaining principal after five years is roughly $547,165.

DECLINING HOME PRICES

BUYERS HAVE MORE NEGOTIATING POWER

With fewer Canadians in the market to buy, homes remain listed for a lot longer with most sellers likely

Difference in monthly payments = $545 After five years, additional monthly payments = $32,700 After five years, difference in remaining principal = $62,885 Total five year savings buying at a higher rate, but lower price = $30,135 All paired with a much lower down payment.

Buying a home in a higher rate and inflationary environment is not ideal, especially with negative news cycles dominating headlines and scaring a lot of Canadians out of buying.

However, it is wise to look deeper and uncover the financial opportunities many might be overlooking.

Understanding the market and your financial situation, and consulting experienced mortgage and real estate professionals such as those on our team at Homewise is one step you can take to clear the fog and potentially invest in real estate at what many consider an inopportune time.

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

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nexthome.ca 31

RIVERBANK ESTATES NITH RIVER, PARIS

a GRAND RIVER

NITH RIVER

DOWNTOWN LIONS PARK

PREMIUM RAVINE LOTS & URBAN TOWNS IN PARIS

MODERN FARMHOUSE TOWNHOMES IN BEAMSVILLE

Life on the Riverbank is timelessly and elegant.

Wrapped by the woods and the Nith River, this extraordinary setting will be home to a collection of detached homes on 46’-50’ lots, urban townhomes, and a rare and very desirable offering of Losani Premium statement homes.

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.

RIVERBANKESTATES.COM

LOSANIHOMES.COM/COMMUNITIES

LIVE. LIFE. BETTER

CUSTOM PREMIUM HOMES IN THE HEART OF WINE COUNTRY

FARMHOUSE & STACKED TOWNS IN STONEY CREEK

The court lots at Woodview offer spacious, private settings that are perfect for custom homes. These lots are complimented by 46’ and 50’ lots. The result is a community that combines the exclusivity of court living with the beauty of a natural backdrop.

SweetBerry a new community located in Lower Stoney Creek at Barton and Glover, minutes from the QEW. This vibrant community offers escarpment views from its modern farmhouse and stacked townhomes, providing a variety of housing options for families and individuals.

LOSANIHOMES.COM/COMMUNITIES

SWEETBERRYTOWNS.CA

VISIT US ONLINE AT

LOSANIHOMES.COM

ARIDO Makes the Difference: Hire a Registered Interior Designer The Association of Registered Interior Designers of Ontario (ARIDO) is your connection to qualified, experienced, and innovative Registered Interior Designers.

ARIDO protects Ontarians to ensure every person using the title ‘Interior Designer’ is qualified.

In accordance with the Ontario Titles Act, an individual cannot use the title ‘Interior Designer’ unless they are a Registered member with ARIDO. Why should I hire a Registered Interior Designer?

Registered Interior Designers have completed the necessary technical education and passed the required exams to meet ARIDO’s rigorous standards for membership.

Once qualified, Registered Interior Designers must keep their knowledge updated through professional development on topics including the Ontario Building Code, accessibility, sustainability, building and mechanical systems, inclusivity, etc.

How do Registered Interior Designers become qualified?

They must graduate from an accredited 4-year Bachelor of Interior Design program and complete an extensive supervised work experience program under a qualified practitioner. Finally, they pass a rigorous 3-part practical exam which includes building code knowledge.

arido.ca Toll-free 800.334.1180

Download your copy now.

WHAT DOES A REGISTERED INTERIOR DESIGNER DO?

1 2 3 4

RESEARCH Meet with client, establish project goals, client’s wants, needs, and budget. Complete a site survey.

DESIGN Develop detailed design with images, sketches, and 3D views. Propose materials, lighting, furniture, and fixtures.

Present concept ideas, preliminary drawings, and images to client.

DOCUMENT Prepare a variety of project documents, which may include construction drawings and/or product selections. Apply for building permits, as required.

COORDINATE Provide project oversight, including coordination of sub-contractors, consultants, suppliers, and vendors.

Document progress to ensure compliance with design intent and project budget. Address issues as they arise.

IT MATTERS. ASK YOUR INTERIOR DESIGNER IF THEY ARE A REGISTERED MEMBER OF ARIDO. LEARN MORE AT BLOGARIDO.CA

ARIDO’s Consumer Guide Don’t know where to start with your project?

Our Consumer Guide can help.

Not sure what you don’t know?

Let a Registered Interior Designer help you ask and answer the important questions.

SPOTLIGHT | FEATURED BUILDERS + DEVELOPERS

DEDICATED TO EXCELLENCE THESE BUILDERS ARE PROUD OF THEIR COMMITMENT TO EXCELLENT CUSTOMER SERVICE AND CREATING GREAT COMMUNITIES.

nexthome.ca 35

BUILDER PROFILE

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 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 the company’s excellence. Every home is designed to reflect the contemporary needs and wants of the homebuyer through consistent community engagement – and the assurance that when you own a Fieldgate home, you are family.

Fieldgate Homes is now open for purchasing by virtual sales appointments across the GTA. You can connect by phone, video chat or email for a secure and convenient homebuying experience. Sales teams are waiting to help you find your perfect Fieldgate home. Explore these featured communities and contact the company today.

AJAX: aTowns

Final release – urban townhomes The final release of stunning urban townhomes at the aTowns Park Collection in Ajax is now open. At Bayly Street and Salem Road, discover new family-sized residences backing onto open greenspace, a series of 36

HOMES Magazine |

Dec. 16, 2023–Jan. 27, 2024

parkettes, sports court and more, all connected by winding walking trails weaved throughout. Better still, live surrounded by modern amenities and mere moments to Lake Ontario.

Get the most out of Ajax’s bustling downtown area and enjoy great shopping, tasteful dining, convenient GO Transit, easy access to Hwy. 401 and so much more all nearby.

Register now at fieldgatehomes.com.

SHELBURNE: EMERALD CROSSING

Final release – 36- and 40-ft. singles The final release at Emerald Crossing is now open. Discover a beautiful country landscape surrounded by every modern convenience imaginable in Shelburne’s most anticipated new home community. Enjoy a collection of 36- and 40-ft. singles available now just minutes from big brand outlets, remarkable restaurants, breathtaking greenspaces, ski hills, golf courses and more. Shelburne has been Canada’s second-fastest growing municipality, so there’s no better time to get in on its best new home opportunity. Register now at fieldgatehomes.com.

PICKERING: SEATON

Coming soon – semis, 30- and 36-ft. singles, coming soon

Enter a serene natural landscape that merges with the convenience of big city amenities at Pickering’s awaited Seaton community, coming soon. Live at the nexus of classic and contemporary with a remarkable collection of 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. Be first to own by registering now at fieldgatehomes.com.

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 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.

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-, 45- and 50-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.

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, coming soon to Milton. Take advantage of your rare opportunity to own 30-, 36- and 43-ft. 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.

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.

Find a master-planned 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.

KLEINBURG: NEW KLEINBURG

STOUFFVILLE: CITYSIDE

Phase 1 has sold out. Register now for Phase 2 – one- and two-car garage freehold townhomes, semis and 30-ft. 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.

Coming soon – Grand Opening of 36- and 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.

Register now at fieldgatehomes.com.

WEST WHITBY: WHITBY MEADOWS

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

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 42-ft. detached designs.

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. nexthome.ca 37

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HOMES, Condo Life + Active Life

Toronto’s Finest NEW HOME GUIDE

Fabulous LIVING IN THOROLD!

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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WHERE MORTGAGE RATES ARE HEADED IN 2021

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

Greater Toronto’s COMPLETE CONDO GUIDE

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EXCLUSIVE MAP GUIDES TO 300+ ONTARIO ADULT LIFESTYLE COMMUNITIES

2020-10-28 1:10 PM

The Brilliance of Ballantry Every day is a little brighter with Ballantry.

Just ask any of the 10,000 families who live in a Ballantry community. Since 1989 when the company was founded, there’s been a higher level of craftsmanship, architecture and features in every home or condominium Ballantry builds. Brilliant details.

Brilliant locations. Brilliant experiences.

Discover the brilliance of Ballantry.

BRAMPTON Spring Valley Village All Luxury Detached Homes by the woods and ponds.

OAKVILLE The Villages of Oak Park 1, 2 & 2+ Den Condos at Dundas and Trafalgar.

Visit BallantryHomes.com Brilliant locations. Brilliant details. Brilliant experiences.

INSPIRATION |

decor

Give your walls A TOUCH OF

PERSONALITY 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.

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HOMES Magazine |

Dec. 16, 2023–Jan. 27, 2024

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 nexthome.ca 41

INSPIRATION |

big style

Southwestern space HOW TO CREATE A

TO HELP STAY WARM DURING THE COLD MONTHS

by LISA ROGERS

Combine organic textures, Native American artistry, and earthy pastels inspired by the desert to create a chic southwestern style in your own condo townhome.

Arizona is a haven of regional mid-century architecture, and there are also various collections of Spanish, Mediterranean and even Tudor Revival designs. Clean lines and neutral colour palettes, often inspired by the landscapes the state is revered for, plus minimalist forms, make up a contemporary home here and can easily be adapted to your own condo north of the 49th.

When John and I decided to build our second home, the decision to lay roots in Scottsdale, Ariz. was an easy, if not an immediate, one. We’ve been vacationing in the Grand Canyon State for as long as we can remember, and its warm and energizing climate is what we crave when we want to escape the colder Canadian weather. It’s an environment that genuinely needs to be championed, so we knew it was paramount to create a space that blended seamlessly into the landscape, honouring the location while still feeling sophisticated.

The beauty and character of the southwest can be a central character in your condo design, too, so I thought I’d share some ideas for a contemporary style that will bring this elegant and fuss-free style to your own living space. (Plus, I’m sharing a few pictures of our own homein-progress.)

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HOMES Magazine |

Dec. 16, 2023–Jan. 27, 2024

ACCENTUATE THE COLOURS OF NATURE

GO WITH LEATHER FURNITURE

I wanted to pull from the traditional colour palette of my surroundings, which I find inspiring. Still, I wanted to make sure my take on it was updated and “soft” contemporary, which is to say I didn’t want anything to feel too modern or not in keeping with the landscape and location. Warm, inviting, airy and bright is how I would describe it.

When you think of the Arizona desert, you may assume the main colour story is brown. And while the state does have plenty of shades of brown-from beige tumbleweeds to the brown-orange desert clay, the Sonoran Desert is also full of bright colours, thanks to the range of cactus flowers that can be found in the region: Pink, yellow, orange or purple. Plus, don’t forget the spectacular (and fiery orange) sunsets. Consider all of this when choosing your paint colours or accents in your condo.

Not surprisingly, leather was considered a staple of the Wild West, so if you’re looking for ways to furnish your home like a native of Arizona, look for soft leather couches and sectionals. Brown is the obvious choice (especially in a rich cognac), but if you’re looking for something more modern, go with black or white leather. A benefit of leather is that it wears well and is easy to clean. Make sure the overall composition of the furniture is contemporary and not dated. You could add smaller leather accents (in different shades of coral or sand) to give your space a laidback desert style.

BRING GREENERY IN

Bringing plants inside is the easiest way to blend the outdoors with your design. From native plants such as Parry Agave and Wild Hyssop, to the variety of different cacti and succulents, finish off your space with a healthy dose of plants in terra-cotta planters; the material will instantly make your space feel more desert-like. The great thing about Arizona flora is that it tends to be pretty hardy and need very little water, so if you like low-maintenance plants, these are great suggestions.

CONSIDER WROUGHT IRON

Many southwestern homes have iron interior elements, such as staircase bannisters, tables or kitchen fixtures and lighting. This is largely due to the influence of Spanish home design since the Spanish were, in fact, the first European settlers to inhabit the area centuries ago.

BORROW FROM NATIVE AMERICAN AND MEXICAN INFLUENCES

Modern desert decor is much more than just “American.”

Borrowing from Native American and Mexican influences: Navajo patterns, cowhides, aged leather, wood and southwestern-style rugs, the style is also greatly influenced by many other gorgeous desert communities globally – Chile, Turkey, Colombia and Morocco. The result is not only worldly but filled with warm hues such as tan, sand, ochre, orange and red.

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 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

Dec. 16, 2023–Jan. 27, 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

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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

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HOMES Magazine |

Dec. 16, 2023–Jan. 27, 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

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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

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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

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HOT PROPERTIES | OUT OF TOWN Youngs Point

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1224 Chemong Rd. masonhomes.ca

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1800 2nd Ave. E. flatogroup.com

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19. Kingswood Cobourg

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415 Lakeshore Rd. masonhomes.ca

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18. Port Hope Lakeside Village

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3246 Line 9 North georgianinternational.com

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nationalhomes.com

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41 Main St. W. flatogroup.com

Bar

5. GreenRidge & Beeton 9. The Vale Village Prestonvale Rd. & Bloor St.

13. Braestone Horseshoe Valley

Dr allis

COLLINGWOOD 11. Edgewood Suites

COURTICE

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BEETON

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Maple & Sixth Street georgianinternational.ca

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410 Yonge Street masonhomes.ca

Horseshoe Valley Rd. & Hwy. 93 georgianinternational.com

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Hwy 26 & Bayfield Rd. Brookfieldhomes.ca

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ADVICE | INDUSTRY REPORT

MUNICIPAL BOUNDARIES IN GTA MUST BE EXPANDED TO MEET

HOUSING GOALS DAVE WILKES

Ontario aims to build 1.5 million new homes by 2031. It is a conservative goal, given Canada’s rapid population growth and the high proportion of newcomers who choose to live in Ontario and the GTA. Building enough homes to accommodate this growth in our region cannot be accomplished through intensification alone and will require the expansion of municipal boundaries.

In late October, the provincial government announced that it would rescind a number of municipal boundary expansions across the province. While some applauded, the fact is that this move has stalled an important process and introduced a high degree of uncertainty into the task of providing the homes our region needs to both accommodate growth and address historic supply constraints that have led to the housing supply and affordability crisis.

The government had added 13,000 hectares to various Ontario and GTA municipalities in 2022. Decried as sprawl by critics, this expansion of municipal boundaries was nothing of the sort. It was the result of intensive multi-year planning exercises at the municipal, regional and provincial levels and was based on the Growth Plan, the Provincial Policy Statement (a document guiding growth and development in the province) and the government’s own population and market needs assessments.

Nor is land use expanding faster than population: The rate of land 50

HOMES Magazine |

Dec. 16, 2023–Jan. 27, 2024

expansion is projected at seven per cent from 2031 to 2051, while the rate of population growth is projected at 24 per cent in that time frame.

The decision to rescind the municipal boundary expansions leaves the GTA with fewer options to accommodate the growth expected by 2051. Intensification, or adding housing and development within existing municipal boundaries, is one legitimate strategy. It makes sense for a variety of planning, financial and environmental reasons. But intensification alone has practical limitations. In the absence of urban boundary expansion, large portions of the built-up areas that currently hold homes, businesses, schools and offices would need to be redeveloped in many municipalities. In Halton, that portion would be 15 per cent of the entire built-up area; in Peel, 10 per cent and in Durham, six per cent.

To be clear, redevelopment would mean demolishing existing houses and buildings and replacing them with higher-density developments. Would you want 15 per cent of the homes in

your neighbourhood to be replaced with multiplexes? It is simply not possible or responsible.

As we look to accommodate future generations, new residents and their employment, retail and community needs to 2051, we must use strategies that are effective and responsible and that enable the addition of housing and employment spaces with a mix and density consistent with what the market is looking for. Combining intensification with municipal boundary expansion will give us the best chance of meeting our goals for housing and employment spaces.

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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