Calgary New Condo Guide - Mar 6, 2015

Mar 6 - Apr 3, 2015 Volume 18 Issue 3

Calgary’s Oldest Park, Calgary’s Newest Urban Address QUALEX.CA/PARKPOINT

INSIDE THIS ISSUE

WHY ALBERTA WILL SURVIVE THE OIL SLUMP

BEYOND STICKER PRICE: OTHER COSTS TO CONSIDER

WILL CALGARY SURPASS VANCOUVER IN LIVABILITY?

BUILDING FOUR NOW RELEASED

CHBA - Calgary Region

2012

Building One is sold out, few units remain in Building Two and Building Three is selling fast. Make your move today and make your dream a reality at Champagne – Calgary’s only pre-cast concrete residences with exceptional designer finishings and premium riverside location.

790 - 1125 SQ. FT. ONE BEDROOMS FROM THE LOW $300S 1220 - 1695 SQ. FT. TWO BEDROOMS FROM THE LOW $500S Presentation Gallery - 350 Quarry Park Blvd SE Mon. to Thur. - Noon to 8pm • Fri - Closed • Sat & Sun - Noon to 5pm

re m i n gt on c or p. c om • 403 . 930. 6900 How did engineering protect Quarry Park from the Flood of 2013? Visit our Presentation Gallery to learn more.

Make your move with Cardel Lifestyles CALGARY’S BEST CONDO + TOWNHOME VALUE

TOWNHOMES STARTING FROM THE LOW

300S

$

SALES LAUNCH SAT, MAR 28 | NOON-5 PM

+ GST

WALK-OUT LOTS

Three townhome styles | Single, double and tandem garages | Backs onto 17 acre park

AVAILABLE

Register today for community updates and VIP selection status. 403.816.5895

SALES CENTRE AND SHOW SUITE NOW OPEN

1+2 BDRM CONDOS FROM ONLY

159,900

$

+ GST

7 CONDO FLOORPLANS

5 NEW SHOW SUITES

(Pre-selling from Panorama West)

1+2 BDRM CONDOS GREAT NW LOCATION

105 Auburn Meadows Dr SE 403.371.6014

175 Panatella Hill NW 403.241.8975

CONDOS FROM ONLY

209,900

$

+ GST

522 Cranford Dr SE 403.457.2670

Visit cardelcondos.com for all our current and upcoming projects. *Prices subject to change without notice. Subject to availability. Rendering is artist’s concept only. Subject to change without notice.

CONDOS + TOWNS

Built for real life.

CARDELCONDOS.COM

Sales Centre Hours: Mon-Thur: 2 pm-8 pm Sat, Sun + Holidays: Noon-5 pm Closed Fridays

3

GR

2

AN D D ISP O L PE A NI Y H NG O M M E AR CH

3 BEDROOM TOWNHOMES from the mid $300’s Sales Centre: 950 Sherwood Blvd NW, Calgary Open Mon-Thur 2pm-8pm, Sat & Sun 12pm-5pm Friday by appointment only

gablecraft.ca/thetimbers

403.456.2328 4

Artistic rendering only. Pricing and availability are subject to change without notice. The developer reserve the right to make changes to the information contained herein. E.&O.E

21

CON UND STR ER UCT ION

1

“Let me get

that for you.”

Welcome to Smith: a boutique collection of homes in the Beltline with an on-duty concierge who signs for packages, lets friends into your home and finds countless other ways to make life easier. Add in a stylish home built

by Grosvenor, a world leader in crafting special homes, and suddenly, deciding why to buy just got easier too.

HOMES BELOW $300,000 STILL AVAILABLE.

15 AVE SW

17 AVE SW

6 ST SW

16 AVE SW

7 ST SW

Presentation Centre 2nd Floor 850 16th Ave SW M–TH 12–6pm. S+S 12–5pm 403.264.1703 smith17.com

8 ST SW

NOW SELLING:

THE BELTLINE

Living cities

This is not an offering for sale. Such offering can only be made with a disclosure statement. E.& O.E.

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 03 | NEW CONDO GUIDE 5

THE MOST ANTICIPATED HOMES IN VICTORIA PARK THE GUARDIAN NORTH - SOLD OUT! MOVE IN THIS SPRING THE GUARDIAN SOUTH - OVER 50% SOLD MOVE IN NEXT SPRING

1-BEDROOMS

starting at $264,900

2-BEDROOMS

starting at $445,900

PARAMOUNT SUITES

starting at $1.4 million

Developed by Hon Developments. Renderings are artist’s interpretation.

Prices subject to change without notice. E&EO. 6

PRESENTATION CENTRE 456 -12TH Avenue SE Mon – Thurs 12 – 6PM

TEL 403 800 3368 Sat & Sun 12 – 5PM

CONTENTS

MAR 6 – APR 3, 2015

VOLUME 18

ISSUE 03

COVER STORY launches 12 Qualex-Landmark fabulous sixth tower in the Beltline

by Heather Ryan

COLUMNS / NEWS / HOMEBUYERS’ HELP 10

Editor’s Note

14 Contemplating Condominiums Get a “condo-check” before you buy! by Linda Palfi 16 Mortgage Advice Your first mortgage

by Alyssa Richard

20 Calgaryism Choosing a community

by Cody Battershill

24 Make Your Move Three common packing no-nos

by Chuck Resnick

28 Marketplace Seeing stripes

by Sara Duck

32 In The News Avi Urban launches final phase of Canoe at Auburn Bay 34 Homebuyers’ Help Why Alberta will survive the oil slump of 2015

by Wayne Karl

36 Finances Tax credits for the homebuyer

44 Home Sweet Home Your home is your castle

by Lydia McNutt

50 Homebuyers’ Help Beyond sticker price: What’s the real bottom line?

by Kara Kuryllowicz

52 The Homebuying Process The financial side of the home-buying process

by Donna Moore

PRESIDENT, YELLOW PAGES NEXTHOME

Jacqueline Hill EDITOR-IN-CHIEF / DIRECTOR OF CONTENT

Susan Legge

54 City Living Will Calgary surpass Vancouver in livability?

by Parham Mahboubi

55

Condo Buyer’s Resource Section You love the condo, see what you can afford!

58 Advertiser Index

PROJECT LOCATION MAPS 11

Inner City

23 Satellite Communities

DIRECTOR OF SALES, NATIONAL

Josh Heppner SENIOR SALES MANAGER, WESTERN CANADA

Edwin Rizarri ART DIRECTOR

Daiana Garay EDITOR

27 Northeast Map

Lydia McNutt CONTRIBUTING EDITORS

29 Southeast Map 41

Southwest Map

45 Northwest Map

Sara Duck Wayne Karl Elisa Krovblit DESIGN EDITOR

Yanic Simard

Media Consultant

Natalie Houghton 587.226.1313 Like us on Facebook:

CONDO PROFILES

search: CalgaryNewCondoGuide

PRODUCTION MANAGER

Bala Gnanapandithan PRODUCTION CO-ORDINATOR

Greg Van Sluytman GRAPHIC DESIGNER

Viosa Barileva Published by

NewHomeAndCondoGuide.ca 2891 Sunridge Way N.E. Calgary, AB T1Y 7K7 ADVERTISING RATES

T 587.226.1313 email natalie.houghton@ypnexthome.ca CIRCULATION Copyright covers the contents of this

47

VILLAS AT WATERMARK

by Macdonald Development Corp.

Villas at Watermark offer luxury, lifestyle and spectacular mountain views — By Heather Ryan

publication and prevents reproduction in whole or in part; offenders will be prosecuted. We reserve the right to refuse any advertising, to make changes or edit advertising as necessary. Care will be taken to ensure copy accuracy but no warranty is implied or given by the publisher. The publication, the publisher and the printers shall not be responsible for any typographical errors, mistakes, misprints, spot colouring or any information or lack of information furnished by the advertisers.

COPYRIGHT 2015 Copyright covers the contents of this publication and prevents reproduction in whole or in part; offenders will be prosecuted. We reserve the right to refuse any advertising, to make changes or edit advertising as necessary. Care will be taken to ensure copy accuracy but no warranty is implied or given by the publisher. The publication, the publisher and the printers shall not be responsible for any typographical errors, mistakes, misprints, spot colouring or any information or lack of information furnished by the advertisers.

Yellow Pages NextHome is a trademark of Yellow Pages Group Co. in Canada.

EDITORIAL Submissions from interested parties will be considered. Please submit to Susan.Legge@ypnexthome.ca The views and data expressed by columnists do not necessarily represent those of the publication.

Please recycle this magazine! Yellow Pages NextHome participates in the Partner’s In Growth Reforestation Program through St. Joseph Communications. To date, Partners in Growth has planted over two million trees in parks, recreation and conservation areas, and other public spaces across Canada. Established in 1990, this program was started with Scouts Canada to help replenish the environment.

EDITOR’S NOTE

THE SWEET CONDO LIFE

SUSAN LEGGE Editor-in-chief

Susan.Legge@ypnexthome.ca Follow me on Twitter at Twitter.com/SusanLegge

Are there one too many empty rooms where you currently live? Perhaps you’re thinking what life would be like if you didn’t have to worry about chores such as the gardening, raking and exteriors that need painting. There’s a lot to be gained in your lifestyle when you decide to do a little downsizing.

Lifestyle opportunities abound in a new condo, and you won’t have to sacrifice any of your current luxuries to get them. In fact, you may find you have more time to enjoy the finer things in life than ever before! Owning a suite in a new building certainly has its benefits. The fact that all of the fixtures and appliances in your suite are brand new and all of the condominium’s common areas, landscaping and facilities are taken care of means less work for you and more time to enjoy it all.

Buying a condominium is a serious decision, and a significant investment, so it is imperative that you do your homework and research the market so you can be confident that you’re getting the best builder and the most value for your money.

Happy condo hunting!

GREYHOUND BUS TERMINAL

Like us on Facebook Search: Condo Guide

THE ANNUAL HOME HUNT

LYDIA MCNUTT Editor

Lydia.McNutt@ypnexthome.ca Follow me on Twitter at Twitter.com/LydiasTweets

6 AVE N

You can almost smell it. Spring. The birds, the bees, the blossoms, the busy real estate season. The longer and warmer days lure the merely curious browsers and the serious buyers out of hibernation in search of new housing opportunities.

Spring is also a busy time for home builders, who will be launching many new projects in the coming weeks. With so many builders vying for your attention, there is lots of healthy competition, which can mean “bigger” and “better” for the buyer – in terms of both product and price.

Plenty of great opportunities, coupled with ultra-low mortgage rates, are giving home hunters that extra push to jump into ownership this spring. And with rising prices and population, condos are quickly becoming the home of choice for buyers of every age and stage in life. Their affordability, convenience and the “cool factor” can’t be denied.

Builders are responding to this new homebuyer demographic with a range of products to suit a variety of lifestyle needs. A small studio condo provides a great option for young homebuyers or students who are looking for value in the hottest locations. On the flip side, the growing trend of larger, family-friendly condo suites accommodate the whole brood, and Fido, too.

Before the spring real estate rush really sets in, think about your needs and wants, and what is most important to you. Make a list, set your budget, and get pre-approved for a mortgage. That way, when you find that perfect condo, you’ll be ready to jump in with both feet.

10 NEW CONDO GUIDE | VOLUME 18 ISSUE 03 | NewHomeAndCondoGuide.ca

23 AVE S

26 AVE S

INNER CITY 11 SOBOW

BY M2I DEVELOPMENTS CORPORATION 1640 17A St.

RILEY PARK

24

6 AVE N

5 AVE N

VE 4A

3

EN

12 KENSINGTON

BY BUCCI

V 2A

SUNNYSIDE 20 STATION

ROTARY PARK

PRINCE’S ISLAND PARK

301 10th St. NW

21

13 FIRST

BY FRAM + SLOKKER

17

12

EAU CLAIRE04 MARKET

East Village Experience Centre 553 Riverfront Ave. SE

16

25

14 AVLI ON ATLANTIC

BY RED MANAGEMENT

01

1220 9th Ave.

4 AVE S

06

16 STEPS BRIDGELAND

BY GIUSTINI BRIDGES IN.

13 18

5 AVE S 6 AVE S

REYHOUND US TERMINAL

MILLENNIUM PARK

Sales Centre 921 - 1st Ave. NE

19 CONVENTION CENTRE

9 AVE S

07

MOUNT ROYAL VILLAGE

26 AVE S

TALISMAN SPORTS CENTRE

10 ST W

PROSPECT AVE

22

26 AVE S

05

21 V&V

BY PROVIDENCE GROUP

04 WATERFRONT

BY ANTHEM PROPERTIES 216 Riverfront Ave. S.W.

05 THE GUARDIAN

BY HON TOWERS

12th Ave SE at 3rd St.

Sales Centre 1120 Kensington Rd

Register: einsteincalgary.com

23

07 SMITH

BY GROSVENOR

43park.ca

Sales Centre Now Open in East Village

ERLTON / STAMPEDE STATION

02 PARK POINT

BY QUALEX-LANDMARK

03 43 PARK

BY VERICON REAL ESTATE VENTURES

19 VERVE

BY FRAM + SLOKKER

20 LIDO

BY BATTISTELLA

06 AVENUE

BY GROSVENOR & CRESSEY

Coming Soon Register now at Qualex.ca/ ParkPoint

916 Memorial Drive

18 EVOLUTION

BY EMBASSY BOSA INC.

CALGARY EXIBITION AND STAMPEDE PARK

01 RIVERFRONT POINTE

BY CARLISLE GROUP

101 Riverfront Avenue S.E.

11

East Village Experience Centre 553 Riverfront Ave. SE

VICTORIA PARK / STAMPEDE STATION

08

4 ST W

5 ST W

CLIFF ST

17 AVE S

23 AVE S

1 ST E

COLONEL BELCHER HOSPITAL

OLYMPIC WY

02

MACLEOD TR

1 ST W

2 ST W

11 AVE S

4 ST W

5 ST W

8 ST W

10 ST W

14

12 AVE S

17 916

BY SABLE DEVELOPMENTS

FORT CALGARY

CITY HALL

22 ALEX

BY ASSURED COMMUNITIES

Presentation Centre: 2719 14th St. SW

1035 5th Ave. SW

23 MISSION 34

BY ASSURED COMMUNITIES

Visit Sales Centre at 850-16th Ave. SW, 2nd Floor

08 DISTRICT

BY BOULEVARD INVESTMENTS Sales Centre Now Open 305 18th Ave. SW

98 Mission Road SW mission34.ca

25 BRIDGELAND HILL

BY GABLECRAFT HOMES 516 Edmonton Tr. NE

09 LiFFT

BY VERICON REAL ESTATE VENTURES

Coming soon to Renfrew-Bridgeland liveLiFFT.com

10 BRIDGELAND CROSSINGS

BY GABLECRAFT HOMES bridgelandcrossings.ca

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 03 | NEW CONDO GUIDE 11

COVER STORY

Qualex-Landmark launches fabulous sixth tower in the Beltline

By Heather Ryan

CONDO BUYERS WHO DESIRE an outstanding location, features and amenities will be thrilled with the launch of a fabulous new tower by Qualex-Landmark Group of Companies.

Nestled in the heart of Calgary’s vibrant, amenity-rich Beltline community, QualexLandmark is behind the Park Point residential community, a 34-storey tower offering 289 condos on the former CIBC Operations Centre

building site at 12th Avenue and 2nd Street S.W. facing onto Calgary’s fiveacre, historic Central Memorial Park.

“While we’ve always had faith in the Calgary real estate market, we have been especially drawn to the Beltline community,” says Mohammed Esfahani, president of Qualex-Landmark. “We specifically chose Calgary’s Beltline community because it is a very established neighbourhood with every amenity and service imaginable within a short walk, and this will be the sixth tower in the Qualex-Landmark Group of Companies’ portfolio in Calgary’s highly sought-after Beltline community.

“Aside from what will be one of the most centralized real estate opportunities in the city, the exceptional, protected panoramic views of Calgary and Central Memorial Park makes Park Point the best-in-class location for investing in an active lifestyle in the rapidly evolving city centre.”

12 NEW CONDO GUIDE | VOLUME 18 ISSUE 03 | NewHomeAndCondoGuide.ca

Park Point will offer 28 floor plans with 277 one- and two-bedroom condos ranging from 502 to 1,092 sq. ft., and eight two-storey, twobedroom street-level live-work townhomes ranging from 1,025 to 1,320 sq. ft. There will also be larger sub-penthouses and penthouses available. Prices start from $286,000.

“The majority of homes in the tower are one-bedroom condos, a portion of which are being released without a parking stall, which contributes to making Park Point more within the financial reach of first-time homebuyers,” says Parham Mahboubi, vicepresident of planning and marketing.

“We feel Park Point offers great value to singles, couples or retires seeking premium quality and carefree living, and a unique opportunity to invest in a great product in one of the best locations to live in downtown Calgary.”

Park Point’s interiors have been carefully planned by Trepp Design Inc. and feature open-concept living with a premium Italian Armony Cucine kitchen that includes granite countertops and backsplash, and German-engineered Liebherr and AEG appliances. Bathrooms feature elegant marble countertops with porcelain tile flooring accented by polished-chrome tap fixtures and accessories. Resident parking is located in a secured, underground parkade.

The Park Point floor plans deliver elegant, original and innovative residences that are timeless in design with expansive windows to maximize natural light.

Designed by global architectural firm IBI Group, Park Point features a sophisticated sculptural expression and contemporary style. Its elegant double-height lobby and distinctive canopy creates a bold, yet gracious arrival.

Residents will be wowed by on-site amenities that include a fitness facility with state-of-the-art equipment, yoga/ Pilates studio, steam room, sauna and his/her change rooms with showers,

social lounge club with kitchen and fireplace, 24-hour concierge service and a furnished guest suite.

Outdoors there will be a Zen terrace with seating and water feature, outdoor lounge with fire pit, a barbecue area and a yoga/Pilates deck overlooking the park. As well, street-level retail will complement existing neighbourhood amenities.

“Downtown living is becoming increasingly popular due to walkability and the convenience of access to amenities,” says Esfahani. “In addition to the fantastic amenities within the building, residents of Park Point will have every conceivable service and amenity at their fingertips, from grocery stores, fashion, cafes, gourmet dining, art galleries, parks and pathways to athletic stores, hair salons and medical services, transit, Car2Go and nearby Plus15 skywalk. You’ve got it all.”

To learn more, visit the Park Point Discovery Centre at 301 11th Ave. S.W., open Monday to Thursday, noon to 6 p.m.; and weekends, noon to 5 p.m. Call 403.244.2428, or visit qualex.ca/parkpoint

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 03 | NEW CONDO GUIDE 13

CONTEMPLATING CONDOMINIUMS

Get a “condo-check” before you buy!

By Linda Palfi

P

eace of mind is a wonderful thing when making a major purchase. If you’re buying a used car, you have a mechanic check it out before you finalize the deal. And if it’s a 40 year-old house, you’re well advised to have a professional home inspector go through it before you sign on the dotted line. But how do you assure yourself that all is well with a pre-owned or even with a brand-new condominium.

It has taken years of growth in condominium construction and ownership for the Calgary condo marketplace to mature. But there are qualified people who are in the business of inspecting condominium projects.

For a price ranging from $300 to $400, the “condo-check” service is a terrific investment for buyers who want a professional opinion before making their final decision on whether to buy into a particular project. And here’s the best part – some realtors are including the condo-check analysis and report as part of their service to purchasing clients! With this arrangement there is no cost to you, and it’s entirely to your benefit as a condominium home shopper.

So, what should a condo-check cover? Compared to the physical inspection of a house, a condo-check analyzes the operational, bylaw, administrative and budgeting aspects of a condominium corporation. As part of that, there may well be engineers’ reports on the physical structures.

Rather than challenging those reports, a condo-check analyzes them and reports to you whether adequate funding is being set aside to perform recommended work.

From the condominium corporation’s bylaws to its minutes of annual 14 NEW CONDO GUIDE | VOLUME 18 ISSUE 03 | NewHomeAndCondoGuide.ca

general meetings, a good condocheck report will summarize all important information, translating mumbo-jumbo into layman’s terms and highlighting any area of concern. You receive a binder with the analysis and summary, followed by the condominium corporation’s actual documents. Finally, a personal presentation will see finer points explained and allow you to ask questions.

Condominium living can offer peace of mind in terms of convenience and professional management. But before buying, you should have the further peace of mind that your selected development is well run, is budgeting adequate reserves, and has bylaws that suit your lifestyle.

Linda Palfi is a condominiumspecialist realtor with Discover Real Estate. She is the chair of her condo board, and a member of the professional standards committee of the Calgary Real Estate Board.

Visit CondosInCalgary.com or call 403.998.7732

INNER CITY

15

MORTGAGE ADVICE

Your first mortgage

By Alyssa Richard, CEO, RateHub.ca

I

f you’re thinking about buying a home, your first step is to get pre-approved for a mortgage. The amount of your approval is the absolute maximum amount a bank or mortgage broker would be willing to give you – and the mortgage payment at that top price is often outside of people’s comfort zones.

To ensure you’re not strapped for cash, try to buy something at a lower price point. Your budget will especially thank you when – not if, when – interest rates go up.

Economists have said an interest rate hike was on the horizon for years, but indications are that it could happen in 2015 (despite the recent drop).

Since our economy follows the U.S.’s, the Bank of Canada will watch what the Federal Reserve does and go from there. It’s predicted that our prime rate could go up by as much as 1.25 to 1.50 per cent, though, which would affect anyone who had a loan attached to prime (variable mortgage, bank loan or line of credit). If you’re thinking of taking advantage of a low variable mortgage rate this year, you should first run the numbers to see if you could afford this potential increase.

According to the Canadian Real Estate Association, the average home price in Canada is slightly more than $413,000. If you put down 20 per cent and choose the current a five-year variable rate of, say, 2.09 per cent, your

16 NEW CONDO GUIDE | VOLUME 18 ISSUE 03 | NewHomeAndCondoGuide.ca

monthly mortgage payment would be $1,413. If prime rose by 1.50 per cent, your mortgage rate would increase from to 3.59 per cent, and your monthly mortgage payment would go up to $1,665 – that’s $252 per month or $3,024 per year extra that you’d need to find in your budget.

Imagine how difficult that would be to come up with, if you’d already purchased something at the top of your max budget.

Even if it weren’t on the horizon, it’s always best to stress test a mortgage before you buy. A good rule of thumb: if you can’t afford a two-per-cent interest rate hike, you may want to look at a home within a more appropriate price range.

Elevated Amenities Exclusively For Residents And Their Guests

NOW SEL LIN G

Own a new local landmark overlook the sparkling Calgary skyline and iconic Central Memorial Park.

Amazing amenities include a beautiful Zen Terrace, outdoor kitchen with fire pit, indoor social lounge with kitchen and cozy fireplace, and fully equipped fitness spaces. These amenities are not an afterthought – they are front and central to living well.

CALGARY · PARKSIDE LIVING ON CENTRAL MEMORIAL PARK

2ND ST SW

NOW SELLING · VISIT OUR DISCOVERY CENTRE TODAY 301 11TH AVE SW · 12 – 6PM MON – THURS, 12 – 5PM SAT – SUN, CLOSED FRIDAYS · 403 244 2428

12TH AVE SW CENTRAL PARK

N

QUALEX.CA/PARKPOINT Another original by

Artist rendering only. TM denotes one or more trade-marks of Qualex-Landmark Management Inc. used under license by Qualex-Landmark Union Inc. This is not an offering for sale. E.&O.E.

17

ALBERTA’s #1 CONDO BUILDER

MAYBE IT’s BECAUsE WE’RE sO EAGER TO PLEAsE

NOW SELLING IN 5 LOCATIONS ALBErT pArk: ShOW SuITE OpEN AIrdrIE: ShOW SuITE OpEN kINCOrA EmErALd SkY: COmING SOON

arti

LEGACY: prESENTATION CENTrE OpEN COChrANE: BY AppOINTmENT ONLY EdmONTON: IN mANY LOCATIONS fOr mOrE INfOrmATION:

carlislegroup.ca 403.571.8426 ImmEdIATE pOSSESSIONS AvAILABLE

fINAL phASE SELLING NOW!

artist’s concept only

f

register at

CreeksideVillageCondos.com #2105 - 403 MacKenzie Way SW airdrie, east of 8th Street

MCKENZIE WAY YANKEE VALLEY BLVD SE

HIGHWAY 2

RAILWAY AVE

MAIN ST

8 ST

AIRDRIE ROAD NE

e f e

SaleS Centre HourS: Mon-thurs 2-8 pm Sat, Sun & Holidays 12-5 pm, Closed Fridays

403.980.3334

$

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4

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ImmEdIATE pOSSESSIONS AvAILABLE!

R

E

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N

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GuArANTEEd

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S

BEST vALuE ANd prICE IN ThE INNEr CITY

AlbertparkStation.ca Project location sales centre MEMORIAL DRIVE SE

5TH AVE. SW

DOWNTOWN

N:

less than 20 units remaining

6

E

LRT STATION

11TH AVE. SE 12TH AVE. SE

12TH AVE. SE

27TH ST. SE

N

BARLOW TRAIL SE

N

14TH AVE. SE

17TH AVE. SE

unit 5117, 2715 12 ave se. sales centre hours: mon - thurs 12-6 pm sat, sun & holidays 12- 5 pm, closed Fridays

403.452.1193 Canadian Home Builders’ Association

Final Clearance. No Reasonable Offer Refused. Last 8 Units.

only

executive furnished suites earn up to $3000 month frOM the

300’s

$

Memo rial Dri ve

GO tO

3 Street SE

Macleod Trail SE

BY AppOINTmENT ONLY

ALL uNITS COmE WITh furNITurE pACkAGE AT NO ExTrA ChArGE!

1 Street SE

403.228.5872

Centre Street S

rivpt.com

NE

Riverfr ont Ave SE

4 Avenue SE

E nue S 5 Ave

19

CALGARYISM

Choosing a community

By Cody Battershill

B

uying a new home in Calgary is as exciting as it gets, especially considering how many different options there are in terms of builders, neighbourhoods and location. Essential to the new-home buying process is finding a community that has everything – or most of everything – that you need to be satisfied to the fullest with your purchase. Here are some simple steps you can take to make sure that the community you end up choosing to buy in is the right one for you.

These are just a few of the important aspects you’ll want to cover. If there is information about a new community that you are looking for and can’t find it, you can also call your real estate agent and they will be happy to help.

Ask lots of questions During the new-home buying process – including the time when you’re saving for a down payment, qualifying for a mortgage and so on – it’s easy to become overwhelmed. Having said that, it’s important that you slow your life down and really consider what you need in a new community without any distractions.

One way to do that is to ask lots of questions. Write them down along with your answers for organizational purposes: › Do you want a new community that is family-friendly, for example, with abundant park space, public schools, lots of other children in the area and an active community centre? › How long and far are you willing to travel to get to work, and would public transportation be an option? › If you need to get groceries or other day-to-day amenities, how far would you be willing to drive? › Are you looking for a neighbourhood with more than the usual in terms of public amenities, such as an outdoor skating rink, pool, tennis courts and a lake? › Would a walkable lifestyle be of interest to you or anyone else in your family? › Are outdoor parks and paved pathways essential to you or your family’s lifestyle?

Answering all of these and any other questions that are important to you will have you well on your way to getting the most satisfaction out of your new home purchase.

Get out and see it Seeing a neighbourhoood first-hand is, of course, one of the best ways to determine if it could be a good fit for you. While visiting, you may discover some characteristics that you really enjoy, or ones that don’t work for you at all, which is why it is an essential part of any new home purchase.

If you’re a real keener, you could even ask some locals about what they like and don’t like about the neighbourhood and if they would recommend moving in. That way, there won’t be any surprises after you’ve signed on the dotted line.

Do some research Doing research on neighbourhoods could very well be the most relaxing part of the new-home buying process. It’s as easy as grabbing your laptop or smart tablet, laying down on the couch or in bed and Googling any potential candidates you are considering. Some important things that you’ll want to search for on the Internet include: › Latest crime statistics (if available) – found on the Calgary Police Service’s website. › Community centre information – membership fees (if applicable) and activities offered throughout the year. › Future plans for development – will there be any strip malls, schools or additional greenspace built in the future? › Surrounding area development – are there any future amenities planned outside of the community that could possibly increase or decrease your property value, such as a new and noisy highway, recreational facility or shopping centre?

20 NEW CONDO GUIDE | VOLUME 18 ISSUE 03 | NewHomeAndCondoGuide.ca

Cody Battershill is the founder of Calgaryism and a top producing realtor at Re/Max House of Real Estate. Cody has a passion for helping his clients reach their real estate goals and showing off the best Calgary has to offer! He can be reached at 403.370.4180, on Twitter @Calgaryism and Calgaryism.ca

CO N UN STR DE UC RW TI AY ON

LUXURY BEGINS AT THE DOOR

Begin your Avenue experience with a greeting from your concierge at the porte cochere – a five-star entryway that creates an unforgettable arrival for you and your guests. From there, the luxury continues within the grand reception with its soaring ceilings and statement chandelier, a finely appointed lounge, connecting sky bridges and state-of-the-art gym. At Avenue, you can leave to travel the world and then return to a secure home that offers the same sophisticated living experience as the boutique hotels abroad.

ONE BEDROOM HOMES STARTING FROM $374,900 TWO BEDROOM HOMES STARTING FROM $571,900 PRESENTATION CENTRE: 1037 5th Avenue, SW, Calgary

10 ST SW

5th AVE SW

Saturday & Sunday: 12pm–5pm Monday–Thursday: 12pm–6pm Closed Fridays

403-530-8455

This is not an offering for sale. Such an offering can only be made with a disclosure statement. E.&O.E.

AVENUEWESTEND.COM NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 03 | NEW CONDO GUIDE 21

SATELLITE COMMUNITY

NORTHRIDGE DR

CALGARY

2A

OKOTOKS SHEEP RIVER

ST

LA

ND

RD

SOUTHRIDGE DR

BIG ROCK TR

WE

WESTRIDGE DR

7

ZEN Okotoks CG 20150220.indd 1

2A

26/2/15 13:59:19

22 20

10 12 15

13 14

06

24 Sunset Rd. Cochrane, Alberta

11

09

21 THE WHITNEY

BY LANDMARK HOMES

2

02

03 01 COCHRANE 08

20 SUNSET

BY JAYMAN INNOVATIONS

AIRDRIE 04

1A

21

07

211 & 215 Fireside Parkway Cochrane, AB

05

AIRDRIE 09 CREEKSIDE VILLAGE STRATHMORE BY CARLISLE GROUP

1

8th & MacKenzie Way

1 Airdrie, Alberta

CALGARY

CHESTERMERE

797 LANGDON

22X

22X

BLACK DIAMOND

22X

17

546

TURNER VALLEY

543

01 TOWNHOMES AT JUMPING POUND RIDGE

BY SLOKKER CANADA WEST

2

12 RAVENSWOOD TOWNHOMES

BY SLOKKER CANADA WEST 2802 Kings Heights Gate

13 BROOKSIDE AT BAYSPRINGS

BY MERGE DEVELOPMENTS

2A

22

Yankee Valley Blvd. and 24th St. SW BrooksideAtBaysprings.com

Sales Centre on George Fox Trail just past Jumping Pound Terrace www.slokker-west.ca

02 HEARTLAND TOWNHOMES

BY EXCEL HOMES 1178 Clydesdale Way, Cochrane, Alberta

03 THE RISE

BY JAYMAN MODUS

06 THE VILLAGE

BY CALBRIDGE HOMES

04 SUNSET RIDGE STREET TOWNS

BY HOMES BY AVI

07 RIVERREACH VILLAS & MANORS

BY JAYMAN MASTERBUILT

501 Riverheights Dr. Cochrane, AB

36 Sun Valley Road Cochrane, Alberta

05 STONE CREEK LANDING

BY CARLISLE GROUP 103 - 5th Avenue, West, Cochrane, Alberta

1225 King’s Heights Way SE Airdrie, Alberta

604 East Lake Blvd N.E. Airdrie, Alberta

HIGH RIVER

COCHRANE

10 STONEKEEP AT KING’S HEIGHTS TOWNHOMES

BY MERGE DEVELOPMENTS 11 THE EDGE

BY STREETSIDE DEVELOPMENTS

OKOTOKS

NORTHRIDGE DR

:59:19

CALGARY’S SATELLITE COMMUNITIES

3102-15 Sunset Square Cochrane, Alberta

13 Riviera Way Cochrane, Alberta

08 THE RANGE

BY BIRCHWOOD PROPERTIES CORP. 101 Heartland Avenue Cochrane, Alberta

14 HEARTLAND TOWNHOMES

BY EXCEL HOMES 101 Hillcrest Dr. SW

LETHBRIDGE Airdrie

15 ZEN RAVENSWOOD

BY AVALON MASTERBUILDER

Coming Soon Register: www.zenravenswood.com

17 ZEN OKOTOKS

BY AVALON MASTERBUILDER

www.zeninbalance.com

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 03 | NEW CONDO GUIDE 23

MAKE YOUR MOVE

3 common packing no-nos

By Chuck Resnick, vice-president, Two Men and a Truck – Canada

M

any people who move do the packing themselves. For some it works out fine; others have problems due to a lack of foresight, poorly packed boxes and inexperience in loading moving trucks. Here are a few tips to help you avoid finding damaged items at your destination: 1. Consider purchasing boxes from your mover. The most common packing mistake we see are people getting free boxes at the grocery or liquor store and then putting too much weight in them. For example, using a large box to pack books and magazines may make it too heavy to lift, and the box might break during the move due to the weight.

Use this rule of thumb: The heavier the item, the smaller the box.

2. Be realistic about the number of boxes you need. Depending on how long you have lived in your current location, you will most likely underestimate your needs. You may think 40 or 50 boxes will be enough, and then realize you need 80, two days before moving day.

3. Start packing early. There’s nothing more frustrating than trying to move customers’ belongings while they are attempting to shove items into boxes and we get in each others’ way.

This also interferes with the loading of the moving truck. We have a loading system where the first things we place in the truck are light items such as chairs, lamp shades and cushions. We place items over the cab of the truck where they stay secure. Next, we create a ‘box wall’ stacked to the ceiling to hold the items in these in place. We then stand plastic wrapped mattresses against the box wall and tie everything off everything to keep things from getting jostled during the move. If you’re not completely packed and ready on moving day, we can’t create that box wall, and this decreases the capacity of the items that can be moved at one time. It also eats up precious time, and therefore, money!

24 NEW CONDO GUIDE | VOLUME 18 ISSUE 03 | NewHomeAndCondoGuide.ca

ZenR

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 03 | NEW CONDO GUIDE 25

ZenRavens CG20150123.indd 1

26/1/15 12:10:26

nothing in cochrane compares to our price not available in calgary AT ANY PRICE

AND

GET 2.59% JAYMAN FINANCIAL

*Optional basement development not included. †Some conditions apply. 3 year fixed rate and based on 25 year amortization. Rates are subject to change without notice. Clients may have to qualify at a higher rate. O.A.C., E. & O. E. Effective January 30, 2015.

2015-02-09-RiverReach NCG Ad.indd 1

2/9/2015 8:59:38 AM

METIS TRAIL

CENTRE STREET 12 AVENUE

07 ARRIVE AT SKYVIEW RANCH ARBOURS

BY PARTNERS DEVELOPMENT GROUP Coming Soon www.arrivehome.ca

13 V&V

BY PROVIDENCE GROUP

IVE

Now Open Register: einsteincalgary.com

36 STREET

17 Ave

52 STREET

BLACKFOOT TRAIL

ELBOW DR IVE

104 Redstone View (off Redstone Way)

IAL DR

R MEMO

02 43 PARK

BY VERICON REAL ESTATE VENTURES

MacLEOD TRAIL

43park.ca

DEERF

114 AVE SE

OOT T RA

IL

W BO

NEW BRIGHTON

AIL

D TR

VITT

McKE

LEO

Mac

IL TRA

EK P ARK

M

TTO BO

CRE

84 STREET

52 STREET

BARLOW TRAIL

GLENMORE TRAIL

ANDERSON ROAD

SHAWNESSY BLVD.

06 ARRIVE AT REDSTONE

BY PARTNERS DEVELOPMENT GROUP

64 Ave

16 AVENUE

SOUTHLAND DRIVE

FISH

Coming Summer 2015 Register: jayman.com/harana

13

17 Ave

GLENMORE RESERVOIR

05 HARANA TOWNHOMES

BY JAYMAN MODUS

80 Ave

32 Ave

03 04 MEMO 02 01 RIAL D RIVE

Coming Soon bridgelandcrossings.com

Sales Centre 921 - 1st Ave. NE www.stepsbridgeland.com

MCKNIGHT BLVD.

16 AVENUE

01 BRIDGELAND CROSSINGS

BY APEX CITY HOMES

04 STEPS BRIDGELAND

BY GIUSTINI BRIDGES IN.

68 STREET

14 STREET

.

Sales Centre #701, 7th Ave. NE livelifft.com

SADDLETREE DR.

52 STREET

CALGARY INTERNATIONAL AIRPORT

64 Ave

CRI J OW OHN CH L ILD AUR IE TR BLV AIL D

05 128 NE Ave

FA L RID CON GE

NOSE HILL PARK

EDMONTON TRAIL

SH AG AN

NA

PI

DE

TR A

ER

IL

CO

03 LiFFT

BY VERICON REAL ESTATE VENTURES

STONEY TRAIL 06 07

COUNTRY HILLS BLVD.

FO OT TR AIL

VD. LS BL

Y HIL UNTR

S JAME

8 AM

NORTHEAST COMMUNITIES

U

MARQ

CHAPARRAL CRANSTON

AIL

NE TR

LOR IS OF

COPPERFIELD

ABURN BAY

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 03 | NEW CONDO GUIDE 27

MARKETPLACE

Striped Pitcher in White and Black. $30. chapters.indigo.ca

White Zinnia Striped Pillow. $59. chapters.indigo.ca

NCG

Seeing STRIPES Bring a touch of Parisian-chic to your life with these black and white striped accessories!

By Sara Duck

Eivor Throw. $35. ikea.ca

Tuvbr채cka Duvet Cover and Pillowcases. $35. ikea.ca

28 NEW CONDO GUIDE | VOLUME 18 ISSUE 03 | NewHomeAndCondoGuide.ca

Design Love Planner. $55. thedesignloveco.com

IE

BLV

D.

MCKNIGHT BLVD.

68 STREET

IL

CENTRE STREE

UR

TRA

14 STREET

32 Ave

16 AVENUE

16 AVENUE

12 AVENUE

RIVE RIAL D

MEMO

RIAL D RIVE

SOUTHEAST COMMUNITIES 36 STREET

MEMO

09

14

211 Mahogany Way

13 MOSAIC CRANSTON

BY BROOKFIELD HOMES

114 AVE SE

DEERF18 OOT T RAIL

206 Cranford Drive SE

W BO

NEW BRIGHTON

14 BOULEVARD TOWNES

BY BIRCHWOOD

M TTO BO

CRE

12 EBONY

BY JAYMAN MODUS

84 STREET

52 STREET

BARLOW TRAIL

19

AIL

IL E TRA

RN OF LO

CHAPARRAL CRANSTON

20

05 01

15

01 CRANSTON RIDGE

BY CARDEL LIFESTYLES

Corner of Cranford Dr and Cranston Gate SE Register: www.cardellifestyles.com/ cranston-ridge

02 COPPERFIELD PARK

BY BRAD REMINGTON HOMES 279 Copperpond Common S.E.

03 MUSKOKA

BY BROOKFIELD HOMES 65 Auburn Meadows Way

04 MOSAIC LAKESIDE AUBURN BAY

BY BROOKFIELD HOMES

15 LIVINGSTONE TOWNES

BY TRICO COMMUNITIES

COPPERFIELD

23

12

W ST. 52

AIL

VITT

D TR

McKE

UIS MARQ

116 Quarry Park Way SE

02 11

16

LEO

Mac

S JAME

TR

EK P ARK

27 Auburn Bay Link SE

1797 Copperfield Blvd SE

GLENMORE TRAIL

ANDERSON ROAD

SHAWNESSY BLVD.

Coming Soon 25 Auburn Meadows Ave SE

11 CHALETS IN COPPERFIELD

BY SABAL HOMES

SOUTHLAND DRIVE

FISH

10 CANOE

BY AVI URBAN

52 STREET

ELBOW DRI VE GLENMORE RESERVOIR

17 Ave

BLACKFOOT TRAIL

17 Ave

MacLEOD TRAIL

ILD

52 Legacy Gate SE

MAHOGANY

07 AUBURN BAY 03 04 10

22

16 06 08

16 AUBURN BAY

BY STONECROFT

Corner of Seton Blvd and Auburn Bay Link SE

17 MOSAIC MIRAGE

BY BROOKFIELD HOMES

13

347 MacKenzie Towne Gate

13

SETON BLVD.

05 LEGACY STREET TOWNS

BY HOMES BY AVI Now Open 42 Legacy Blvd SE

06 ZEN

BY AVALON MASTER BUILDER 82 Auburn Bay Link SE

07 AUBURN WALK

BY CARDEL LIFESTYLES

Showsuite and Sales Centre Corner of 52nd Street and Auburn Meadows Dr. SE

18 THE GATES

BY REMINGTON DEVELOPMENT CORPORATION Presentation Centre: 350 Quarry Park Blvd SE

19 CHAMPAGNE

BY REMINGTON DEVELOPMENTCORPORATION Quarry Park Blvd SE remingtoncorp.com

20 CRANSTON PLACE

BY CARDEL LIFESTYLES 302 Cranston Road SE

22 MAHOGANY STREET TOWNS

BY HOMES BY AVI 13 Marine Dr SE

08 MUSKOKA

BY BROOKFIELD HOMES 27 Auburn Bay Link SE

09 BRISTOL TOWNHOMES

BY BIRCHWOOD NOW SELLING 232 Quarry Park Blvd. SE

CONDOS FROM THE $140’s www.copperfieldpark.com 403.723.0094 NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 03 | NEW CONDO GUIDE 29

LOOKING FOR A NEW HOME?

It’s only a tap away.

Find the perfect new home or condo in the neighbourhood that fits your lifestyle.

Start searching now!

DOWNLOAD THE APP 30

GET STARTED NOW AT

NewHomeAndCondoGuide.ca

Building Condos and Townhomes from $230’s to $1.7m

Modus_Sun_Booklet March issue.indd 1

2/23/2015 12:59:58 PM

LIFE HAPPENS ON THE INSIDE. So you’re looking for a condo or townhome that fits your life. Take a moment to think about this. Modus offers more choice in Alberta than any other multi family builder. The largest combination of interior options, amenities, models, building styles, communities, cities, price points and services. With choices like this your new home is really only limited by your imagination.

SO BUILD YOUR HOME AROUND YOUR LIFE NOT THE OTHER WAY AROUND.

W I T H M O D U S YO U G E T. . .

■■■

........................................................... a solid and thoughtfully designed product based on 30 plus years of industry experience.

■■■

the best in industry interest rates.

■■■

into your home easier with our down payment savings program.

■■■

an improved quality of living with included amenities like gyms, courtyards, parks, party rooms and more.

■■■

a smooth transition with our complimentary moving van.

■■■

help selling your home for the best possible market value.

■■■

one year jayman service warranty.

■■■

to save money on legal fees.

Modus_Sun_Booklet March issue.indd 2

2/23/2015 1:00:03 PM

Mod

3 PM

a true community experience Join Modus as we show you our world and interact with yours. Through fun contests, silly videos, unique ideas, community initiatives and our product showcases we genuinely would like your feedback, insight and participation. Feel free to ask us questions and tell us what you’d like to see from a homebuilder. While we are the builder you are ultimately the inspiration for what we do. So feel free to “like” us and dive right in. We’re looking forward to hearing from you!

Get social with us: facebook.com/jaymanmodus

Modus_Sun_Booklet March issue.indd 3

2/23/2015 1:00:06 PM

MOVE IN NOW

FREE LISTING THROUGH JAYMAN REALITY

3 bedroom Xtra wide townhomes with double car garage up to 1638 sq ft UNOBSTRUCTIVE RAVINE VIEW LIVING ONLY 7 LEFT

3 bedrooms from $470’s (INC GST) Monthly Payment from $2105 Qualifying Income from $90,905

FEATURING: • Ravine living in a unique cul de sac • Central courtyard greenspace • Playground • Quartz countertops • Hardwood, ceramic tile, laminate flooring • Linear wall fireplace • Stainless steel appliances • Upper level laundry centre • Lower level flex room “mancave” • Designed blind package

60 Nolan Hill Blvd NW jayman.com/trinity

Modus_Sun_Booklet March issue.indd 4

2/23/2015 1:00:15 PM

Mod

5 PM

MOVE IN SPRING SHOWHOME NOW OPEN 2 & 3 bedroom townhomes with single, tandem and double car garage AND NOW FOR SOMETHING DIFFERENT 2 bedrooms from high $340’s (INC GST) Monthly Payment from $1561 Qualifying Income from $69,225 3 bedrooms from high $390’s (INC GST) Monthly Payment from $1778 Qualifying Income from $77,015 FEATURING: • 1229 sq ft – 1698 sq ft • 9’ ceilings on main floor • Single, tandem and double heated garage • Flex room on select homes • Stainless steel appliances • Laminate and ceramic tile flooring • Granite countertops • AC RI • Upper level laundry with washer & dryer

47 Evansridge Court NW jayman.com/avira

Modus_Sun_Booklet March issue.indd 5

2/23/2015 1:00:18 PM

MOVE IN NOW

C O

N

D

O

S

THE ULTIMATE IN CHOICE ALL WITHIN 4 storey building with state of the art fitness gym, heated underground parking and easy access to the lake and Mahogany amenities

CONDOS 1 bedroom + den from $230’s (INC GST) 2 bedrooms from $300’s (INC GST) Monthly Payment from $1369 Qualifying Income from $60,189 FEATURING: • 622 sq ft - 1040 sq ft • Stainless steel appliances • Engineered laminate flooring • Ceramic tile flooring • Granite countertops • Premium features on select suites: Maple cabinets, quartz waterfall countertops, shag carpeting, full height glass tile kitchen backsplash

Located on corner of Mahogany Blvd SE and Mahogany Way SE jayman.com/ebony Modus_Sun_Booklet March issue.indd 6

2/23/2015 1:00:30 PM

Mod

0 PM

MOVE IN NOW 30 DAYS

A FOUR SEASON LAKE COMMUNITY 2 & 3 bedroom townhomes with single, tandem & double heated garage, a beautiful courtyard with water feature and tot lot

TOWNHOMES 2 bedrooms Starting from $350’s (INC GST) Monthly Payment from $1564 Qualifying Income from $68,317 3 bedrooms from $360’s (INC GST) Monthly Payment from $1631 Qualifying Income from $71,121 FEATURING: • 5 floor plans • 1170 sq ft – 1649 sq ft • 9’ ceilings • Laminate & ceramic tile flooring • Granite countertops • Stainless steel appliances • Upper level laundry centre

263 Mahogany Way SE jayman.com/ebony

Modus_Sun_Booklet March issue.indd 7

2/23/2015 1:00:35 PM

EXPERIENCE THESE NEW TECHNOLOGICAL A D VA N C E S I N T H I S M O D U S C O M M U N I T Y:

Modus_Sun_Booklet March issue.indd 8

2/23/2015 1:00:41 PM

Mod

1 PM

Modus is again revolutionizing the industry with the most incredible technologies. Experience the ultimate in Augmented Reality with Modus Matrix. Matrix gives you the power to build a digital model of one of our projects wherever you go with a simple, easy to use phone or tablet app.

Imagine doing a showhome tour in the comfort of your own home. This is something that must truly be seen to be believed. Just download the Modus Matrix app and visit a glimpse of tomorrow; today on our site plan page.

If that wasn’t enough experience the future of homebuying in our Avira sales centre with our new touchscreen systems that not only deliver the latest product info at the touch of your fingers but even integrates with your cell phone so you can take it with you.

DOWNLOAD THE MODUS MATRIX APP HERE:

OR VISIT WWW.MODUSMATRIX.COM

DOWNLOAD THE APP TO YOUR PHONE OR TABLET

THEN SCAN THIS AD FOR THE ULTIMATE 3D HOMEBUYING EXPERIENCE IN AVIRA EVANSRIDGE NW.

Modus_Sun_Booklet March issue.indd 9

2/23/2015 1:00:44 PM

AT HOME, AWAY FROM HOME. Moving into a community or considering a move into a new community can be a challenge. It can be difficult to reorient yourself and find all of the things and places that provide comfort. So at Modus we’ve developed a simple solution. A mobile amenities application that allows you to find what you want, complete with phone number and GPS locator to take you straight there. So enter one of the community URLs or download our Modus Matrix app on your Android phone or iPhone and scan this page to give it a try!

DOWNLOA D MODUS MATRIX APP & SCAN THIS PAGE Modus_Sun_Booklet March issue.indd 10

2/23/2015 1:00:55 PM

Mod

5 PM

MOVE IN SUMMER

Executive single level living 1- 3+ bedroom Residence and Penthouse Condos (3 buildings – 4 floors) UPSCALE CITY LIVING AT ITS FINEST

from $460’s - $1.7m FEATURING: • 870 sq ft – 2543 sq ft • Airy 10’ ceiling heights • Upscale premium finishes; quartz waterfall countertops, 5” hardwood flooring, tile flooring, KitchenAid stainless steel high end appliances • AC • up to 512 sq ft decks on floors 1-3; up to 1347 sq ft decks on 4th floor • Underground heated garage

BUILDING 1 70% SOLD OUT BUILDING 2 40% SOLD OUT BUILDING 3 NOW RELEASED

2953 Battleford Ave SW SHOWSUITE IN CURRIE BARRACKS SALES CENTRE jayman.com/overture

Modus_Sun_Booklet March issue.indd 11

2/23/2015 1:00:57 PM

2 & 3 bedroom townhomes with garage A LITTLE OLD WORLD STYLE IN THE HEART OF ALBERTA.

Opening April

FOR INFO PRE-REGISTER TODAY jayman.com/carnaby Nolan Hill NW

Modus_Sun_Booklet March issue.indd 12

2/23/2015 1:01:05 PM

Mod

5 PM

2 & 3 bedroom townhomes with garage YOU SPOKE. WE’VE LISTENED. A COMMUNITY DESIGNED FOR YOU, BY YOU.

Opening Summer/Fall

FOR INFO PRE-REGISTER TODAY jayman.com/harana Redstone NE

Modus_Sun_Booklet March issue.indd 13

2/23/2015 1:01:08 PM

Buying a home is possible!

ASK US ABOUT THE JAYMAN MODUS DOWN PAYMENT SAVINGS PROGRAM The Jayman Modus Down Payment Savings Program is an opportunity to continue saving money towards your down payment while your home is being built. Program suitable for Pre-Sale homes and homes with 6 month + occupancy.

Example. Purchase February with occupancy October Purchase Price

Payment Structure

330,000 plus GST 16,500 (GST) 5,940 (Rebate if applicable) 340,560 5% down $17,028 1000 7,514

Deposit Hold March 2.5% (consolidation - approximately 10 days)

Remaining 8,514 staggered monthly until last payment 45 days prior to possession April 1702.80

May 1702.80 June 1702.80 July 1702.80 August 1702.80

jayman.com/modus

Modus_Sun_Booklet March issue.indd 14

2/23/2015 1:01:14 PM

Mod

4 PM

The name Modus stands for how we do things. In the past 35 years we have learned that to improve the quality of our customers’ lives it’s important that we build around their lifestyles and not the other way around. This is how we do things. We are there for you through the entire process and have the experience and connections that no other multi family builder has. This ensures the smoothest transition possible during your home buying experience.

It’s just what we do.

Modus_Sun_Booklet February issue.indd 15

1/27/2015 10:01:34 AM

Sales Centre Hours: Mon to Thu 2 - 8 pm S a t / S u n 12 - 5 p m

j ay m a n . c o m / m o d u s / j ay m a n m o d u s

Jayman Modus Calgary is a Builder of Excellence for providing “An Outstanding Home Ownership Experience� for Multi-Family Homes in Alberta.

Based on the J.D. Power and Associates 2013 Alberta Multi-Family New Home Builder Customer Satisfaction StudySM conducted in association with the Professional Home Builders Institute of Alberta. Study measures ANHWP builder members and participating builder members of PHBIA, which represent more than two-thirds of all new single-family homes built in Alberta. For more information, visit jdpower.com

Modus_Sun_Booklet March issue.indd 16

2/23/2015 1:01:30 PM

WINNER 2014 31

IN THE NEWS

Avi Urban launches final phase of Canoe at Auburn Bay built-in options and nine-ft. ceilings.

Outside Canoe, homeowners can connect with their neighbours in a lake country-inspired courtyard, complete with a proposed custom fire pit. Hundreds of trees will surround connective walkways that take homeowners through the development to the future LRT station and convenient retail plaza next door More information on Canoe at Auburn Bay can be found by visiting aviurban.com/Canoe, or by connecting with the Avi Urban sales team at 403.536.7282 or canoe@homesbyavi.com. The sales centre at 103 Auburn Meadows Dr. S.E. is open Monday to Thursday from 2 to 8 p.m.; and weekends and holidays from noon to 5 p.m.

A

vi Urban recently launched the final phase of their newest multi-family development, Canoe at Auburn Bay. Located at 103 Auburn Meadows Dr. S.E., this latest release of apartment condominiums is the final building in this development.

“It is with great expectation that we release the second, and wellanticipated, final phase of our Canoe development,” says Charron Ungar, president of Avi Urban. “The response we have received from our purchasers has been exceptional and we look forward to a similar outcome when we launch this next building. With the introduction of some new, innovative floor plans and additional stock of our most popular models, I look forward to many more Calgarians choosing to call Canoe their future home.”

In creating the vision for Canoe, Avi Urban looked to the architectural signature of Brookfield’s Auburn Bay community for inspiration. It builds on that strong foundation while still bringing something new and invigorating to the suburban multi-family home market. The result is a highly detailed, contemporary interpretation of what apartment living in Calgary’s vibrant southeast can look like.

With pricing from the high $100’s, Canoe at Auburn Bay features studio, one-bedroom and two-bedroom apartment condos ranging from 620 to 1,300 sq. ft. Inside, homes offer bright, modern elements like flat-panel cabinetry, glass tile backsplashes, personalized 32 NEW CONDO GUIDE | VOLUME 18 ISSUE 03 | NewHomeAndCondoGuide.ca

About Avi Urban: Avi Urban is a Calgary-based builder of quality multi-family homes.

Recognizing a demand for innovative multi-family developments, Homes

by Avi created Avi Urban in 2000.

From the beginning their goal was to offer homeowners the ultimate in comfort and function, while building innovative, thoughtful townhome developments that bring an urban aesthetic to a livable product.

By redefining multi-family development, Avi Urban has earned its place as an innovative market leader. Avi Urban’s broad range of communities includes a highly modern live/work development in the inner city, street-oriented row housing in exclusive neighbourhoods and large scale, multi-phase townhome developments.

SOUTHEAST

INNOVATIVE SOUTH CALGARY TOWNHOMES

WITH 2 CAR GARAGES

FROM THE $330’S

33

HOMEBUYERS’ HELP

Why Alberta will survive the oil slump of 2015

By Wayne Karl

A

lberta home builders have a message for those who have recently bought – or are about to buy – a home: relax. The sky is not falling on the housing market in the province.

Sure, the recent slide in oil prices has caused a stir: listings are up and sales down, but so far there’s been little impact on home prices. In Calgary, the detached benchmark price in January was $518,600, an eight-per-cent increase over January 2014’s $480,300, and up slightly from December’s $510,900. So, Chicken Little, what exactly is the problem?

Canadian Home Builders’ Association (CHBA) – Alberta’s economic analyst Richard Goatcher summed up the industry’s mood after a recent meeting with builders in Red Deer – the “Heartland” of the province.

“A general mood of caution for 2015,” he told New Condo Guide.

“Most expect to stay busy, but slower than last year.”

CHBA – Alberta represents more than 1,500 builders, renovators, developers, trade and supply companies in the province – so, a sector that is a key employer and economic driver.

Builders expect 2015 starts will drop 15.5 per cent from 2014 levels, but the province-wide total of 34,300 units should still exceed the 2010-14 five-year average of 32,500 units.

34 NEW CONDO GUIDE | VOLUME 18 ISSUE 03 | NewHomeAndCondoGuide.ca

Most of the slowdown this year is expected to come in the multi-family segment, where starts are expected to decline by 20 per cent to 16,840 units. Single-detached starts are expected to reach 17,460 units, down 11 per cent from 2014.

To be sure, these declines are notable, but they follow a very busy 2014 for Alberta’s new home building industry – the best since 2007 – with total housing starts (urban and rural) reaching 40,590 units.

CMHC weighs in Recently, Canada Mortgage and Housing Corp. (CMHC) updated its forecast, in its first quarter 2015 Housing Market Outlook, saying housing starts in Alberta would decrease to 36,000 in 2015 and 34,500 in 2016.

As for price growth, CMHC says that after leading the Prairie region with a 5.2-per-cent gain in 2014, Alberta will record more modest price growth moving forward. With rising listings and lower demand in 2015, price growth in the province will ease to below two per cent to an average of $407,100 in 2015 and $415,000 in 2016.

“Lower oil prices will have a dampening effect on investment and economic growth, particularly in Alberta and to a lesser extent Saskatchewan,” says Lai Sing Louie, CMHC’s regional economist. “This will contribute to slower employment growth and net migration, in turn slowing housing demand.

The Canadian Association of Petroleum Producers – representing another huge employment sector in the province – says capital investment in western Canada will still total $46 billion this year – including $25 billion in the oil sands.

“Certainly a drop from the high-water mark, but not chump change, either,” CHBA – Alberta spokesman Paul Cashman told New Condo Guide. “Alberta’s other big primary industries – forestry and tourism – will get a boost from the low Canadian dollar. “So, there are still some big positives in Alberta.”

SOUTHEAST

$1,400*/mth

35

FINANCES

Tax credits for the homebuyer

M

any first-time homebuyers are generally recovering from the first year of moving into their home, and all the associated fees, closing costs and expenses to maintain the home. There are some tax credits that homeowners should be aware of when filing their 2014 tax returns.

The Home Buyers’ Plan (HBP) This plan lets first-time homebuyers access their RRSPs, tax-free, to increase their down payment and decrease their mortgage amount – and interest paid. The HBP withdrawal limit is $25,000 – tax-free – for each you and your spouse, for a combined total of up to $50,000 toward your down payment or other home-purchase related costs.

In order to take advantage of this plan, your RRSP contributions must remain in the RRSP for at least 90 days before you can withdraw them under the HBP. You will be required to repay all the withdrawals within 15 years to avoid paying tax on that sum.

The Homebuyer’s Tax Credit (HBTC) is a federal tax credit of up to $750 available to qualified first-time homebuyers or homeowners who have not owned a home in the previous four years. You qualify if: » Neither you, your spouse or common-law partner have lived in a house that either of you owned in the year of purchase or four preceding years.

» If you have a disability or are buying a house for a disabled relative, you don’t have to be a first-time homebuyer to qualify. However, the home must be purchased to allow the person with a disability to live in a more accessible dwelling or in an environment better suited to their needs and care. » A qualifying home is a housing unit located in Canada that already exists or is being built. » A share in a co-operative housing corporation that entitles you to possess, and that gives you an equity interest in a housing unit located in Canada, also qualifies.

For more information and tax tips, visit online at cra-arc.gc.ca

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NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 03 | NEW CONDO GUIDE 41

42

SOUTHWEST

PRESENTATION CENTRE NOW OPEN | WEST 85th in West Springs | #2118, 8561 - 8A Avenue SW | 403.474.4875

43

HOME SWEET HOME

Your home is your castle

By Lydia McNutt

T

he Home Depot, the world’s largest home improvement retailer, recently announced its fourth-quarter and fiscal 2014 results, and they ain’t too shabby. The company and its subsidiaries across Canada, the U.S. and Mexico reported sales to the tune of $19.2 billion – up 8.3 per cent year-over-year. That buys a lot of home improvement.

Homeowners love their castles, and are doing what they can to make them just that – their castle.

With spring around the corner, perhaps a full-on renovation or some simple upgrades are on your mind. The warmer weather, and the urge to refresh and revive after a brutal winter, take over. Couple that with the typical up-tick in real estate activity in the springtime, and you can bet that you won’t be the only one on the block to pick up a hammer. Whether you’re buying a new place or selling your old one – and many will be doing both! – a few upgrades can go a long way.

Renos for resale: Before you put your home on the market this spring, get an objective assessment of its appearance. Ask someone who will feel comfortable giving you an honest opinion, such as a real estate agent or a professional home stager.

The right reno can put more dollars back in your pocket. But before you start knocking out walls, ask yourself if the return will we worth the cost, time and inconvenience of a major reno.

Demand should also factor into your decisions. Would you pay extra for solid gold bathroom faucets? Aim in line with the look, feel and price of the area. Remember, neighbourhood often dictates price more so than the home itself.

Short of a massive renovation, a fresh coat of paint, some new hardware and great lighting goes a long way to showing your home at its best without costing an arm and a leg.

Buyers’ upgrades: Just as renovating your home can get you a better return on your sale, a renovation can get you a bigger bang for your buck when you buy. If neighbourhood is the most important factor (and for many it is), then get in at a price you can afford, and work on those upgrades later once you’ve built up some equity.

Whether you’re buying an old fixer-upper or a brand new place, remember that Rome wasn’t built in a day, and your dream home may not be either. Your financial picture will change, as may your family structure, needs, wants and home-building trends. Taking your time with something as pricey as a home renovation could pay off in the long run – especially if you’re planning to stay a while.

44 NEW CONDO GUIDE | VOLUME 18 ISSUE 03 | NewHomeAndCondoGuide.ca

When you’re ready to reno, hire the right contractor for the job. The Canadian Home Builders’ Association suggests you ask questions first: » What services do you offer? » Have you done renovations like ours before? » Can we visit one of your current projects? » Do you carry workers’ compensation and liability insurance? » What warranty do you offer on your work? » Do you have references?

Call the references and ask about their experience. Was the work completed within the specified time frame and for the agreed-upon price?

Are they happy with the work? Do your dream home due diligence – after all, it is your castle.

Lydia McNutt is an award-winning writer and editor. Lydia’s love of architecture, interior design and the written word have landed her happily at home at New Condo Guide. Email Lydia.McNutt@ypnexthome.ca, and follow her on Twitter @LydiasTweets

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15

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NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 03 | NEW CONDO GUIDE 45

CONDO PROFILE

VILLAS AT WATERMARK offer luxury, lifestyle and spectacular mountain views

By Heather Ryan

A

fabulous villa project that combines luxury living with breathtaking mountain views and a tranquil maintenance-free lifestyle has been so well received, that it’s already 80 per cent sold.

Nestled in Watermark at Bearspaw, two-time winner as the best community in Canada, the Villas at Watermark consist of 101 bungalow-style walkouts crafted by Macdonald Development Corp. which has now moved into its final phase.

“We’re really excited about the response to the Villas; sales have exceeded our expectations,” says Ian Macdonald, director of sales and marketing. “We have just 17 villas remaining and our four showhomes are now for sale.

“People love the Villas because they have all the luxury they desire and are maintenance-free, so they provide that lock-and-leave lifestyle that allows owners the freedom to travel,” he says. “And, for people smart-sizing or rightsizing, they’re the right fit for size and lifestyle.”

The Villas offer approximately 2,000 to 2,600 sq. ft. of developed living space on two levels featuring two or three bedrooms, 2.5 to 3.5 bathrooms and front or side attached double garages. There are four floor plans available – 46 NEW CONDO GUIDE | VOLUME 18 ISSUE 03 | NewHomeAndCondoGuide.ca

three with the master bedroom on the main and one with the master on the walkout level, creating an expansive main-floor entertainment space.

“People are really impressed with the level of finishings,” Macdonald says. “The Villas offer a luxurious finishing package and many optional upgrades to choose from. And they start in the mid-$700,000s plus GST, so that’s an amazing price for what they’re getting.”

The well-appointed Villas feature high-end finishes such as quartz countertops, wide plank engineered hardwood flooring, 10-ft. ceilings, stainless steel appliances, built-in

“People love the Villas because they have all the luxury they desire and are maintenance-free, so they provide that lock-and-leave lifestyle that allows owners the freedom to travel” wine fridge and built-in TV in the kitchen, large flatsurface islands, in-floor heating in the ensuites, gas fireplaces, Hunter Douglas blinds, large windows and two big patios.

In addition to the luxurious homes, construction is underway on a clubhouse that will provide residents amenities such as a fitness centre, social room with banquet-style kitchen, games area and owners’ lounge.

Situated off 12 Mile Coulee Rd., residents can enjoy a variety of shops, services, restaurants and the LRT at nearby Crowfoot with easy access to Crowfoot and Stoney Trails.

To learn more, visit the four Villas showhomes, open noon to 6 p.m. Monday to Thursday; and noon to 5 p.m. weekends. Call 403.474.5985, or visit villasatwatermark.com.

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 03 | NEW CONDO GUIDE 47

!

D L O S 80% Calgary’s Fastest-Selling Villa Community is Now in its Final Phase VISIT OUR SALES CENTRE TODAY 1 Watermark Villas, Calgary (Just off 12 Mile Coulee Rd. NW) 403.474.5985

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48

Community of the Year Calgary Region

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49

HOMEBUYERS’ HELP

Beyond sticker price: WHAT’S THE REAL BOTTOM LINE?

By Kara Kuryllowicz

A

s much as location affects everything from the size of home to lifestyle and commute times, most Canadian homebuyers’ decision-making is still driven primarily by sticker price and mortgage payments.

A recent study by Pembina Institute and RBC, Location Matters: Factoring location costs into homebuying decisions, looks at how location-related factors affect the overall costs of a home through the eyes of four homebuyers, beyond just sticker price. While the homebuyers were in the Greater Toronto Area, the study raises a number of questions and highlights issues that are relevant to Canadian homebuyers from coast to coast.

“The main takeaway is that any homebuyer should figure out the total home-ownership costs and impact on lifestyle when making a home purchase,” says Erica Nielsen, vice-president of home equity financing at RBC. “It comes down to personal preferences and what you are willing to trade off – perhaps it’s living a bit closer to the city and giving up one car, or living in a neighbourhood with easy transit. Widening your criteria in your home search could yield savings, and sometimes those savings aren’t immediately obvious.”

“You have to look at what you need, what you want and what you are willing to give up if you can’t have both” 50 NEW CONDO GUIDE | VOLUME 18 ISSUE 03 | NewHomeAndCondoGuide.ca

Sticker price versus the bottom line Since home-buying math is a complex equation, buyers must also consider costs beyond sticker price, like their monthly home maintenance and transportation expenses, many of which are tied to location and type of home: transportation (car versus public transit), property taxes, utilities, insurance, home repairs or improvements, furniture and decor.

“We tend to focus on the sticker price first, because we see it as a lump sum, then the weekly, biweekly or monthly mortgage payments which are sizeable, but location can also have a major impact on transportation costs – what will it cost to drive everywhere?” says Markus Moos, assistant professor at the School of Planning, University of Waterloo in Ontario. “In smaller towns and rural areas, the housing costs less, but homebuyers need to consider the additional costs – if that location will require bigger vehicles and/or a vehicle for every adult who drives.”

At first glance, the larger home with the extra bedrooms and big backyard may appear worth the fourhour round-trip commute. However, Moos also suggests you carefully assess both the financial and less tangible costs, such as impact on mental and physical health, work-life balance and relationships – monthly, annually and long term.

“The total cost can vary by adjusting the location and transportation costs,” says Nielsen. “It’s important to evaluate all of the variables to make sure the total cost fits into your budget. Often, adjusting needs and wants could save you money in the long run.”

You may be pre-approved and able to carry the mortgage on a $600,000 home, but also consider the lifestyle you want. Can you carry the home and still afford the annual vacations, the kids’ hockey program, and date night with your spouse? You also have to ask the tough questions: what if you lose your job or your partner – how are you protected?

“You have to be honest and budget for that,” says Nielsen. “Buying a home is personal and you have to look at what you need, what you want and what you are willing to give up if you can’t have both.”

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THE HOMEBUYING PROCESS

The financial side of the home-buying process

By Donna Moore

T

he warmer days and spring air may encourage many people to head outside and visit local showhomes and suites to discover what’s on the market before they buy their first home or a move-up property.

For those who are thinking about buying a new home this spring, whether you’re a first-time buyer or are seeking your next home, what you choose will ultimately come down to finances.

Before taking the plunge into home ownership, there are a few questions you should ask yourself. What’s the best approach to financing the purchase?

How long will it take to get financing in place? How much can and should you borrow, and still feel comfortable?

Understanding and feeling positive about your financial picture and your mortgage goes a long way toward the enjoyment of your new home. You don’t want to find yourself in a situation where you’ve bought at the top end of your budget and you’ve left yourself short for incidentals that often pop up.

When you start getting serious in your home hunt, it’s a good idea to make an appointment with a mortgage specialist to discuss what you’d like to buy, your budget and to get a mortgage pre-approval – this way you know the price range you can afford when you start looking. With today’s lending rates at historical lows, it’s a good time to shop, but make sure you can cover higher payments if and when rates go up.

When it comes to obtaining a mortgage, there are a number of lenders to choose from offering a vast array of approaches to make the home-buying process easier for you. Mortgage lenders also offer ways to meet various budgets so you’ll feel comfortable with your decision at the end of the day.

With today’s technology, homebuyers have easier access to mortgage information and advice from various sources than ever before. Of course, one of the quickest ways to obtain mortgage information is through the Internet, as mortgage lenders and insurers offer a wealth of information online.

Several websites have mortgage calculators that allow you to get a clear picture of how much of a home you can qualify to buy and what your payments would be. You can also explore how different purchase prices, interest rates, down payments, amortization and pay back-options affect your payments.

If you’d rather have more hands-on material, most lenders have a full range of brochures and worksheets available at their branch offices so you can stop in and grab copies of these, or check to see if they can be e-mailed to you. With some lenders, you can also call a toll-free number for 24-hour access to information.

Access to lenders has never been easier with some offering flexible business hours and/or mobile mortgage specialists who will come to you.

Mortgage specialists can provide advice and information to help make the home-buying process easier and can often process your application quickly.

52 NEW CONDO GUIDE | VOLUME 18 ISSUE 03 | NewHomeAndCondoGuide.ca

As well, new-home builders are a great source of financing information and assistance. When you’re out visiting showhomes, you’ll discover some builders, in collaboration with their financial partners, offer mortgages to their customers at preferential rates. But at a minimum, your builder can provide information and refer you to lenders who are well versed in financing new home purchases.

Obtaining mortgage information early on lessens the hassle when it comes to the financial side of the home-buying process, and is an important step toward making your home-buying dreams come true.

Donna Moore is executive officer at the Calgary Region Home Builders’ Association.

Call 403.235.1911 or visit crhba.com

53

CITY LIVING

Will Calgary surpass Vancouver in livability?

By Parham Mahboubi

By making downtown Calgary more liveable, the development industry is supporting what city officials are urging: a stronger focus on urban housing to create an attractive, popular urban lifestyle.

C

algary is quickly rising in rank as one of the most livable cities.

Calgary’s development plans reflect this ambition, while communicating a strong call for the transformation of the Beltline.

Calgary’s downtown is an ever-expanding community. The metropolitan area has appreciated at an average annual rate of seven to nine per cent over the past decade, according to the Fall 2014 Market Manuscript report released

by Ben Myers of Fortress Real Developments. According to the 2014 Civic Census, the Beltline population grew by 1,091 residents from April 2013-14, to 21,357.

Calgary’s real estate market consistently performs well due to three key themes: positive net-migration, employment growth and a tight rental market.

The city continues to attract high-income workers who can afford downtown properties. And with a reputation for being one of the world’s most livable cities, homebuyers have the peace of mind that their investment is safe and secure in comparison to other real estate markets.

Qualex-Landmark Group of Companies has been the most active Beltline condo developer in the last decade, and its buildings have added to the growing trend of “New Urbanism” in Calgary by promoting a sense of culture and community, and creating the opportunity to live, work, shop and play without leaving the downtown core.

Developers and home builders are in a position to provide more first-class residences to Calgary’s urbanites, by recognizing these demands. Park Point is Qualex-Landmark’s sixth residential condominium in downtown Calgary, and Tower One will represent another $110 million in downtown Calgary real estate sales, boosting the city’s economy.

54 NEW CONDO GUIDE | VOLUME 18 ISSUE 03 | NewHomeAndCondoGuide.ca

About Park Point Park Point is Qualex-Landmark’s sTM sixth residential condominium in downtown Calgary, consisting of two towers and roughly 500 one- and two-bedroom residences. Rooftop garden amenities include an outdoor yYoga and/ Pilate’s sun deck, a Zen tTerrace and an open- air lounge area with seating, bbq barbecue and a fire pit, creating an amenity-rich, mixeduse, higher-density community in the heart of Calgary’s Beltline and central to essential services, amenities, and within walking distance of Calgary business community.

Parham Mahboubi is vice-president of planning and marketing at Qualex-Landmark

HOMEBUYERS’ HELP

condo buyers’ resource section YOU LOVE THE CONDO, SEE WHAT YOU CAN AFFORD! Compare mortgage rates for your best deal Calculate your mortgage payments

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 03 | NEW CONDO GUIDE 55

HOMEBUYERS’ HELP

You love the condo, see what you can afford!

INTEREST RATES

Calculate your mortgage payments

Amortization Periods

% 5 YEARS

10 YEARS

15 YEARS

20 YEARS

25 YEARS

3.00

17.96

9.65

6.91

5.54

4.73

3.25

18.07

9.76

7.02

5.66

4.86

3.50

18.18

9.88

7.14

5.79

4.99

3.75

18.29

9.99

7.26

5.91

5.13

4.00

18.40

10.41

7.38

6.04

5.26

4.25

18.51

10.23

7.50

6.17

5.40

4.50

18.62

10.34

7.63

6.30

5.53

4.75

18.72

10.46

7.75

6.44

5.67

5.00

18.85

10.59

7.89

6.58

5.82

5.25

18.97

10.71

8.01

6.71

5.96

5.50

19.08

10.83

8.14

6.85

6.11

5.75

19.19

10.95

8.27

6.99

6.26

6.00

19.30

11.07

8.40

7.13

6.40

6.25

19.42

11.19

8.54

7.27

6.55

6.50

19.53

11.32

8.67

7.41

6.70

6.75

19.64

11.44

8.80

7.55

6.86

MONTHLY PRE-TAX INCOME

SPOUSE’S PRE-TAX INCOME

TOTAL PRE-TAX INCOME

DIVIDE

BY THREE

AFFORDABLE MONTHLY PAYMENTS DIVIDED BY 12

AMOUNT OF MORTGAGE (PRICE-DOWN PAYMENT)

CHART FIGURE

AMOUNT OF MORTGAGE DIVIDED BY 1,000

AMORTIZATION AMOUNT

AMORTIZATION AMOUNT

ESTIMATED MONTHLY TAXES AND HEAT

MONTHLY PAYMENTS

Follow these steps to see if you’ll qualify for a mortgage on your dream condo 01 Calculate the combined monthly beforetax income of you and your spouse.

02 Divide by three. This figure is the monthly payment you can afford to make on your condo.

03 Take the total price of the condo and subtract the amount of money you expect to make as a down payment. This is the money you will have to borrow.

04 Refer to the chart above. Look down the left column and locate the interest rate you expect to pay. Line this up with the amortization period of your choice. (Most first-time buyers take the 25-year amortization.)

56 NEW CONDO GUIDE | VOLUME 18 ISSUE 03 | NewHomeAndCondoGuide.ca

05 Multiply this figure by the amount you need to borrow.

Divide by 1,000.

06 Add to this your estimated monthly heating costs and monthly property taxes.

07 If this figure is equal to or less than one-third of your gross monthly income (calculated in Step 2), you’ll qualify for a mortgage on your dream condo.

Bear in mind that this is a rough estimate.

If you have several other large loans already, you may qualify for less. Also, banks and trust companies vary in their policies. The best way to know what you can afford is to go to the lending institution of your choice and get pre-qualified.

Compare mortgage rates for your best deal VARIABLE

6 MONTHS

1 YEAR

2 YEARS

3 YEARS

4 YEARS

5 YEARS

ATB Financial

2.350

4.000

2.940

2.790

2.790

2.840

Bank of Montreal (BMO)

2.850

4.000

3.140

3.040

3.800

4.390

2.940 4.790

Bank of Nova Scotia

2.850

4.550

3.290

3.090

3.390

3.890

4.490

CIBC Mortgages

2.850

4.450

2.890

2.840

3.550

4.140

4.990

Canadian Western Bank

3.050

4.000

3.140

3.040

3.650

4.200

4.990

Canadian Western Trust

3.050

4.000

3.140

3.040

3.650

4.200

4.990

Effort Trust

-

4.450

3.450

3.600

3.700

4.600

4.950

Equitable Bank

-

-

3.140

3.140

3.800

4.540

4.840

First Calgary Financial

-

4.000

2.890

2.890

3.190

3.390

3.290

First National Financial

2.850

3.950

2.990

2.590

2.690

2.790

2.890

FirstOntario Credit Un.

2.850

4.240

2.990

3.040

3.190

2.990

2.990

HSBC Bank Canada

2.950

4.450

3.540

3.040

3.540

4.240

4.940

Home Trust Company

2.500

3.950

2.690

2.690

2.790

2.790

2.840

ICICI Bank Canada

3.050

-

3.150

3.650

3.640

3.690

3.690

Investors Group Trust

2.850

4.200

3.140

3.140

3.750

4.390

4.790

London Life

2.850

4.200

3.140

3.140

3.750

4.390

4.790

Manulife Bank

2.550

4.450

3.000

3.040

2.940

2.990

2.990

-

4.450

3.000

3.040

2.940

2.990

2.990

2.650

4.000

3.090

2.650

3.650

3.290

2.990

Manulife Trust Meridian Credit Union National Bank

2.850

4.400

3.140

3.040

3.750

4.390

4.790

Ontario Civil Service CU

3.000

6.000

3.090

3.090

3.070

3.240

3.290 3.950

Peace Hills Trust

-

4.500

3.150

3.500

3.750

3.850

President’s Choice Fin’l

2.850

6.190

3.190

2.840

3.490

4.040

4.440

Royal Bank of Canada

2.850

3.140

3.140

3.140

3.800

4.540

4.840

Servus Credit Union

-

4.000

2.990

2.940

3.440

3.940

4.790

Steinbach Credit Union

-

-

2.750

2.850

2.950

3.050

3.100

T-D Mortgage

2.850

3.140

2.990

2.940

3.440

3.940

4.790

Tangerine

3.000

-

3.190

3.240

3.490

3.690

3.790

Windsor Family C.U.

-

4.450

3.140

3.140

3.750

3.950

3.790

Your Neighbourhood C.U.

-

-

2.990

3.000

3.290

3.450

3.340

Rates are subject to change without notice.

Mortgage options You can choose any of these mortgage options which fit into the two basic mortgage types. Lenders may even customize these options to suit your needs.

All mortgages are of two basic types: CONVENTIONAL

OPEN MORTGAGE

INSURED OR HIGH-RATIO

Allows borrowers are to repay all or part of the total amount of their mortgage at any time without penalty.

Because of flexibility, this is ideal for borrowers who plan to sell their homes in the near future or who want to switch from a short-term mortgage at high-interest rates to a longer term when mortgage interest rates fall.

Buyer can borrow up to 95 per cent of the purchase price or the value of the property, whichever is less.

The down payment can be as low as five per cent.

This usually has the lowest interest rate available but lacks the flexible features of other mortgage options.

Buyer can borrow up to 75 per cent of the purchase price or the value of the property, whichever is less.

Buyer has to pay 25 per cent down.

A conventional mortgage cannot exceed 75 per cent of the value of the property.

CLOSED MORTGAGE

It’s a good choice for those who want the security of knowing their monthly payment is fixed for a longer term.

Prepayment options are available but they are subject to conditions.

PORTABLE MORTGAGE Offers flexibility if borrowers move.

Borrowers can take the mortgage to their new home or can transfer it (usually with the consent of the lender) to the purchaser of their old home. This is an attractive option if the rate on the existing mortgage is lower than current rates.

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 03 | NEW CONDO GUIDE 57

INDEX OF ADVERTISERS

READ MORE ABOUT OUR ADVERTISERS! Albert Park Station

Carlisle Group

Arrive at Evanston

Partners Developments

51

Auburn Walk

Cardel Lifestyles

3

Avenue

Grosvenor

21

Brookside at Baysprings

Merge Developments

24

Canoe

Avi Urban

59

Champagne

Remington Development Corp.

Copperfield Park III

Brad Remington Homes

Cranston Ridge

Cardel Lifestyles

Creekside Village

Carlisle Group

Edison

Avi Urban

33

Ezra

Birchwood Properties

49

The Gates

Remington Development Corp.

39

The Guardian

Hon Towers ltd.

6

Harvest Mosaic

Brookfield Residential

35

Hillcrest Townhomes

Excel Homes

23

Hunter House

Streetside Developments

40

Jumping Pound Ridge

Slokker West

7

LIDO

Battistella

16

Livingstone in Legacy

Trico Homes

36

Max Townhomes

Assured Developments

42

Nolan Park

Cardel Lifestyles

3

Park Point

Qualex Landmark

1, 12-13, 17

Riverfront Pointe

Carlisle Group

RiverReach

Jayman MasterBuilt

26

Sonoma

Morrison

54

Smith

Grosvenor

5

StreetTowns

Homes by Avi

33

The Timbers

GableCraft Homes

4

V&V

Providence Developments

15

Vivace

Streetside Developments

43

Zen

Avalon Master Builder

22

Zen Ravenswood

Avalon Master Builder

25

Watermark

Watermark

Jayman Group of Companies

PULLOUT INSERT

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18-19

2 29, 60 3 18-19

18-19

46-48

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