Calgary New Condo Guide - May 1, 2015

May 1 - 29, 2015 Volume 18 Issue 5

AmAzing PlAns AmAzing Prices

check out the views at INSIDE THIS ISSUE

SAM AWARDS WINNERS ANNOUNCED!

MORTGAGE COSTS RISING FOR SOME CANADIANS

POSSIBLE PITFALLS WHEN BUYING A HOME

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.

Live the lake life at Auburn Walk.

- Pre-construction pricing incentive

STARTING FROM

159,900

$

+ GST

Prices and promotions subject to change without notice. Subject to availability. Copyright © 2015 Cardel Lifestyles. All rights reserved.

CONDOS + TOWNS

Built for real life.

CARDELCONDOS.COM

CL-CMP-2060 Condo Guide_Auburn Walk_7.5x10.5_May2015.indd 1

AUBURN WALK AUBURN BAY LAKE

SETON BLVD

52 ST

DEERFOOT TRAIL

AY AV E

AUBURN BAY BLVD CRANSTON AVE

N BAY DR BUR AU AUBURN MEADOWS DR

B

1+2 BDRM CONDOS

2

AU B U R N

- Choose from 11 modern floorplans - Walk to everything: future Auburn Station shopping centre next door, Auburn Lake, South Health Campus, citywide transit and more

201 52 ST

STONEY TRAIL

SOUTH HEALTH CAMPUS

Visit our sales centre and show suite to learn more.

SALES CENTRE & SHOW SUITE: 105 AUBURN MEADOWS DR SE REILLY LEPAGE: 403.477.1989

MON – THUR: 2 PM – 8 PM WEEKENDS & HOLIDAYS: NOON – 5 PM CLOSED FRIDAYS

2-time New Homebuyers Choice Award finalist 3

2015-04-17 2:29 PM

2 3 BEDROOM TOWNHOMES from $359,900 Visit The Timbers’ new Sales Centre and TWO designer show homes today!

EXPERIENCE THE TIMBERS DIFFERENCE GAS RANGE

QUARTZ COUNTERTOPS

OVERSIZED WINDOWS

HARO LAMINATE WOOD FLOORING

SALES CENTRE 922 SHERWOOD BLVD NW, CALGARY Mon to Thurs – 2pm to 8pm Friday – By Appointment Only Sat & Sun – 12pm to 5pm

403.456.2328

gablecraft.ca/thetimbers 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

4

G

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 05 | NEW CONDO GUIDE 5

Elevated Amenities Exclusively For Residents And Their Guests

STA

RTI

N NG OW SE FRO LLI M T NG HE MID $

20 0

s

European in style with Calgary in mind, each home offers distinct details such as real granite countertops and full slab backsplash in your premium Italian Armony Cucine kitchen. The integrated kitchen cabinetry, appliances and hardware make your work, dining and living space one harmonious experience. These interiors are the ultimate in everyday elegance.

CALGARY · PARKSIDE LIVING ON CENTRAL MEMORIAL PARK

2ND ST SW

NOW SELLING · VISIT OUR DISCOVERY CENTRE TODAY 301 11TH AVE SW · OPEN DAILY 12 – 5PM, EXCEPT FRIDAYS · 403 244 2428

12TH AVE SW CENTRAL PARK 6

N

QUALEX.CA/PARKPOINT Another original by

This is not an offering for sale. Any such offer can only be made by way of condominium documents and/or disclosure statement (where applicable). E. & O.E. ™ denotes one or more trade-marks of Qualex-Landmark Management Inc. used under license by Qualex-Landmark Union Inc.

CONTENTS

MAY 1 – 29, 2015

VOLUME 18

ISSUE 05

COVER STORY

11

Brad Remington Homes Buyers line up for Copperfield Park III’s most outstanding phase yet

by Heather Ryan

COLUMNS / NEWS / HOMEBUYERS’ HELP 10

Editor’s Note

18 Industry Update Avoid home purchase pitfalls

by Jim Rivait

20 Calgaryism Calgary ranks third on prosperity scorecard

by Cody Battershill

22 Mortgage Advice Bank of Canada holds overnight lending rate

by Alyssa Richard

30 Contemplating Condominiums How condo style impacts value

by Linda Palfi

32 CMHC Report National housing starts slow down to manage level of inventory 34 In The News SAM Awards honour finest in home-building industry

by Heather Ryan

36 In The News The ups and downs of Calgary’s housing market

by Heather Ryan

40 Make Your Move The right mover for the job

by Chuck Resnick

44 Hot Topic Finishes and options that pay off

by Kara Kuryllowicz

52 CHBA Awards 2014 SAM Awards winners announced 62 In The News Mortgage costs about to rise for some Canadians

by Lydia McNutt

63

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

66 Advertiser Index

PRESIDENT, YELLOW PAGES NEXTHOME

Jacqueline Hill EDITOR-IN-CHIEF / DIRECTOR OF CONTENT

Susan Legge DIRECTOR OF SALES

Moe Lalani SENIOR SALES MANAGER, WESTERN CANADA

Edwin Rizarri ART DIRECTOR

Daiana Garay EDITOR

Lydia McNutt

PROJECT LOCATION MAPS 15

Southeast Map

CONTRIBUTING EDITORS

Wayne Karl Elisa Krovblit Sara Duck (on leave)

43 Inner City

25 Northwest Map

27 Southwest Map

39 Satellite Communities

61 Northeast Map

DESIGN EDITOR

Yanic Simard

Media Consultant

Natalie Houghton 587.226.1313 Like us on Facebook: search: CalgaryNewCondoGuide

PRODUCTION MANAGER

Bala Gnanapandithan PRODUCTION CO-ORDINATOR

Greg Van Sluytman GRAPHIC DESIGNER

Viosa Barileva Published by

2891 Sunridge Way N.E. Calgary, AB T1Y 7K7

52 CONDO PROFILES

26

NewHomeAndCondoGuide.ca ADVERTISING RATES

T 587.226.1313 email natalie.houghton@ypnexthome.ca CIRCULATION 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.

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

EMERALD SKY AT KINCORA

by Carlisle Group Buyers eager for launch of Carlisle’s Emerald Sky at Kincora — By Heather Ryan

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

HOME-BUYING DECISION DRIVERS

SUSAN LEGGE Editor-in-chief

Susan.Legge@ypnexthome.ca Follow me on Twitter at Twitter.com/SusanLegge Like us on Facebook Search: Condo Guide

New-home buyers are often driven by different influences, but there’s no doubt lifestyle is an increasingly important factor. Whether you’re considering a home in the suburbs or a pied-à-terre in the city, you’re likely looking to compensate for what you don’t have in your current residence.

The amount of living space is usually the issue – either too much or too little.

Most young families are looking for more living space, which is why builders and developers are designing homes with interiors that maximize every square foot of living space to make the most of your money.

As we get older, the quest for living space may take a different direction.

Downsizing is often the answer, although many homeowners with existing homes in suburban or rural areas are acquiring townhomes or a small “crash pad” in the city that gives owners and their friends a chance to enjoy the social and cultural activities of the city without having to drive for hours to get home.

In today’s hectic world, your new home will be your retreat, so it’s important to find one that suits your needs and lifestyle. In this issue, we profile new communities which offer the perfect place to put up your feet, plus the latest industry news and features about buying and owning a new home. Enjoy!

BE THE ‘EARLY BIRD’ THIS SPRING

LYDIA MCNUTT Editor

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

You’ve decided to buy a new home this spring. Visions of gleaming glass condo towers rising on the skyline are certainly inspiration to get out there and stake your claim. But oftentimes, the real deals are to be found long before the shovels even hit the ground.

There are many benefits to buying your condo early in the development process. Purchasing in the pre-construction phase often means you’ll get a lower price, and by the time you move in, your condo will likely have appreciated in value.

Beyond the equity you’ll gain simply by virtue of patience, the period between purchase and occupancy date (which can be a few years, in some cases) offers homebuyers a chance to save up a larger down payment. Mortgage interest rates are currently at historic lows, but we don’t know how long this will last. The larger the downpayment, the less you’ll need to borrow and the less interest you’ll pay.

If you’re a first-time homebuyer, use the waiting period before occupancy to prime yourself for the costs of condo ownership. Set aside the equivalent of your condo maintenance fees every month to get accustomed to paying this bill. Then, put that money toward your downpayment.

Now consider the rate of real estate appreciation in Canada’s major markets, and buying a pre-construction condo makes perfect financial sense. In this case, it really does pay to be first in line.

10 NEW CONDO GUIDE | VOLUME 18 ISSUE 05 | NewHomeAndCondoGuide.ca

COVER STORY

Buyers line up for Copperfield Park III’s most outstanding phase yet

By Heather Ryan CONDO BUYERS CONTINUE TO

line up for the opportunity to enjoy the “Love It, Live It and Afford It” experience at Brad Remington Homes’ newest and most outstanding phase to date in Copperfield Park III. “We recently launched our third phase (building four) at Copperfield Park III and it was a major success,” says Bryan Logel, vice-president of sales and marketing for Brad Remington Homes. “We had a number of people lined up and camped out, eager to be the first ones to secure a model of their choice; they want to be in the best phase of Copperfield Park III.

“The momentum that we created in the first two phases by designing topquality homes that suit a variety of lifestyles continues in the new phase,” Logel says. “The location of this building and the views that include the community pathway, the pond and the mountains are amazing.

“We’ve kept our prices low because of the uncertainty in the economy and are offering staged deposits so buyers can pay their down payment in stages,” he adds. “We’ve really created an opportunity for anyone renting to get into home ownership and we’re doing everything we can to help people take advantage of this opportunity.”

Brad Remington Homes is committed to creating high-quality, affordable homes and Copperfield Park III offers everything from an entry-level onebedroom up to larger two- and three-bedroom designs.

In Copperfield Park III, some improvements to the floor plans have been made to provide additional value for buyers by adding extra square footage at a reasonable cost, Logel says.

“We’ve also brought back two of our more popular plans – C and C1 – which are 792 and 825 sq. ft. and offer two bedrooms, two bathrooms in a California split design starting from an amazing $215,900,” Logel says. “I don’t NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 05 | NEW CONDO GUIDE 11

think you’ll find anything like that elsewhere in Calgary.

These two-bedroom floor plans are ideal for two people sharing and offer tremendous value to buyers.”

Copperfield Park III is comprised of four, four-storey buildings with 304 suites. Phase three is addressed as building four on the site and offers 76 suites ranging from approximately 565 to 973 sq. ft. in one-, two- and threebedroom layouts priced from $169,900 – making the suites incredibly affordable for a wide demographic of buyers.

“When we look at all the potential purchasers in Copperfield Park III, there really is something there for everyone. We offer a titled parking stall and storage unit with each suite, as well as a superb level of specifications and high-quality construction,” Logel says.

12 NEW CONDO GUIDE | VOLUME 18 ISSUE 05 | NewHomeAndCondoGuide.ca

Brad Remington Homes is committed to creating high-quality, affordable homes and Copperfield Park III offers everything from an entry-level onebedroom up to larger two- and threebedroom designs The well-appointed interiors include full-sized kitchens with granite countertops, slab or mission-style cabinets in three different colour choices, four appliances – fridge, stove, dishwasher and over-the-range microwave – in-suite laundry with the washer and dryer included, knockdown ceilings and private balconies.

Buyers can also customize their homes with optional upgrades such as a fireplace, air conditioning and hardwood flooring, to name a few.

Copperfield Park III offers a great location situated off McIvor Boulevard near the BRT bus stops, grocery stores, restaurants, shops, services and minutes away from the South Calgary hospital as well as a wide range of new amenities being developed in Seton. The location also provides easy connections to Stoney Trail, 130 Avenue S.E., Deerfoot Trail and 52 Street S.E. With the price, features and value, it’s easy to see why people want to “Love It, Live It and Afford It” at Copperfield Park III.

For more information on Copperfield Park III, visit the six different showhomes located at 755 Copperpond Blvd. S.E., open Monday to Thursday, 2 to 8 p.m.; and weekends and holidays from noon to 5 p.m. You can also visit copperfieldpark.com, or call 403.723.0094.

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 05 | NEW CONDO GUIDE 13

SOUTHEAST

14

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

08 21

27 Auburn Bay Link SE

646 Copperwood Blvd SE

GLENMORE TRAIL

ANDERSON ROAD

SHAWNESSY BLVD.

Coming Soon 25 Auburn Meadows Ave SE

11 CHALET NO. 6

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

16 SANDGATE

BY SABAL HOMES

Coming Soon 6 Mahogany Terrace SE

17 MOSAIC MIRAGE

BY BROOKFIELD HOMES

13

347 MacKenzie Towne Gate

13

SETON BLVD.

05 LEGACY STREET TOWNS

BY HOMES BY AVI 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

08 THE MORELLO 15207 1st SE themorello.ca

09 BRISTOL TOWNHOMES

BY BIRCHWOOD NOW SELLING

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

21 ALTURE MIDCITY

BY ALTURE PROPERTIES 15233 1 Street Southeast midcitymidnapore.ca

22 MAHOGANY STREET TOWNS

BY HOMES BY AVI 13 Marine Dr SE

232 Quarry Park Blvd. SE

CONDOS FROM THE $140’s www.copperfieldpark.com 403.723.0094 NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 05 | NEW CONDO GUIDE 15

IS THE IMF ROOTING AGAINST CANADA’S HOUSING MARKET? (PARTIS2)THE IMF ROOTING AGAINST CANADA’S HOUSING MARKET? (PART 2) In our last article we discussed the International

households in Edmonton and Calgary comfortably

Monetary Fund’s (IMF) concerns over the amount of

afford the current carrying cost of the average residential

new debt Canadian households have accumulated In our last article we discussed the International during the low interest environment that has shaped Monetary Fund’s (IMF) concerns over the amount of our markets since our last recession in 2008. new debt Canadian households have accumulated

during the low interest environment that has shaped our We finished our last article by proposing that increasing markets since our last recession in 2008. debt is not a singular sign of weakening household We finishedInour articlewhat by proposing that Canadians increasing finances. ourlast opinion, counts is how

debt not a singular signtheofmoney weakening household are is spending or investing they borrow, and finances. In our opinion, what counts is how Canadians how they are servicing their debt. Currently, mortgage are spending or investing the money they borrow, and debt accounts for 66 percent of all consumer debt and how they are servicing their debt. Currently, mortgage the majority of our most recent experienced growth in debt accounts for 66 percent of all consumer debt and total national debt levels. the majority of our most recent experienced growth in total national debt levels.

In economics, a common measure of financial health is In economics, a common measure of financial health is whether one is forced to spend over 30 percent of their whether one is forced to spend over 30 percent of their gross income on housing. By this measure, average

Average Housing Price in 2014

housing price, while being comparatively better off than gross income on housing. By this measure, average average households in Canada’s other top 3 major households in Edmonton and Calgary comfortably afford centres. Furthermore, these average households the current carrying cost of the average residential continue to save a significantly high portion of their housing price, while being comparatively better off than gross incomes, suggesting they are well situated to average households in Canada’s other top 3 major continue to finance their homes if these carrying costs centres. Furthermore, these average households should risetoinsave the near future. high portion of their gross continue a significantly

incomes, suggesting they are well situated to continue to The IMFtheir warns that higher interest rates could finance homes if these carrying costs should rise in

the near future. jeopardize Canadian homeowners’ abilities to finance their homes comfortably, which in turn could cause a The IMF warns that higher interest rates could jeopardize steep downturn in our housing market.

Canadian homeowners’ abilities to finance their homes

comfortably, which in turn could cause a steep downturn When it comesmarket. to Alberta, we don’t share the same in our housing view.

When it comes to Alberta, we don’t share the same view.

Average Household Income in 2011

*Standard Mortgage Payment/Average Monthly Household Incomes

Provincial Household Savings Rate 2013

Vancouver

$819,384

$85,400

66%

0%

Toronto

$556,603

$80,100

48%

4.6%

Montreal

$340,489

$72,300

32%

2.7%

Calgary

$452,968

$113,800

27%

16.3%

Edmonton

$359,479

$92,000

27%

16.3%

*Mortgage payment estimated at 5% down, and a 4.7% 5-year fixed mortgage rate over 25 years of amortization. Average housing price data Intelligence House is Edmonton’s newest and most was collected from the Canadian Real Estate Board. All other data was collected from Statistics Canada.

innovative Real Estate Marketing Agency with a focus on strategic market intelligence which includes full research, marketing and sales services to the real is estate industry.newest and most Intelligence House Edmonton’s Intelligence House is Edmonton’s newest and most innovative Real Estate Marketing Agency with a innovative Real Estate Marketing Agency with a focus on strategic market intelligence which focus on strategic market intelligence which includes full research, marketing and sales includes full research, marketing and sales services to the real estate industry. services to the real estate industry.

16 NEW CONDO GUIDE | VOLUME 18 ISSUE 05 | NewHomeAndCondoGuide.ca

From left to right: Michael Melnychuk Alex Ruffini Emmett Hartfield

From left to right: From left to right: Michael Melnychuk Michael Melnychuk Alex Ruffini Alex Ruffini Emmett Hartfield Emmett Hartfield

e

d

l

n

r

s

s

o

n

e

s

n

.

17

INDUSTRY UPDATE

Avoid home purchase pitfalls

By Jim Rivait

B

uying a home is a challenging process, and no purchaser wants to discover a potentially costly deal breaker at the last moment.

That’s why it’s essential for consumers to be aware of the possible pitfalls of signing an exclusive service agreement with a real estate agent to help you buy a home.

Our association is hearing of cases where buyers never realized that an exclusive agreement means a real estate agent is entitled a commission on the sale of a new home or condo bought directly through a builder.

Buyers are then in a tough spot. It’s important to understand that the builder has no legal obligation to pay the commission.

So, how can buyers protect themselves against unexpected shocks?

The first step is to understand that the Real Estate Council of Alberta (RECA) introduced new requirements for real estate professionals last July, so the rules may have changed since you last bought a home.

The non-government regulator made it mandatory for its members to use written service agreements with clients. The goal was to clarify the roles and responsibilities of agents and their clients in an attempt to reduce conflicts and confusion.

The RECA website provides more information about what parts of the agreement are negotiable, including the services to be provided, length of the agreement and remuneration.

Buyers can also negotiate whether the buyer representation agreement is exclusive or non-exclusive.

A non-exclusive agreement leaves the consumer free to act on their own without having to pay a commission on a sale. Consumers can also enter into non-exclusive agreements with multiple agents.

An exclusive agreement locks the consumer into the terms of the contract – including commissions – even if the buyer deals directly with a builder.

RECA states that consumers can request a non-exclusive agreement but that its members are not obliged to accept those terms. The buyer has the option of finding a different agent.

Builders have taken steps in the past to work with buyers who want to be represented by an agent. The Builder/Realtor Cooperation Program is in place in both Calgary and Edmonton, and many major builders participate.

A key principle of that program is that agents must register a client with the builder and then accompany the prospective buyer to view any showhomes.

This ensures that all the participants understand right from the start that

18 NEW CONDO GUIDE | VOLUME 18 ISSUE 05 | NewHomeAndCondoGuide.ca

an agent will be involved in the sale.

Homebuyers can avoid unexpected costs and stress by ensuring that they fully understand the terms and conditions before they sign either an exclusive or non-exclusive a service agreement. That’s the simple way to avoid complications later.

The Canadian Home Builders’ Association – Alberta represents over 1,500 business members including new home builders, renovators, developers, trade and supply companies, and professional services.

Jim Rivait is chief executive officer of the Canadian Home Builders’ Association – Alberta. Starting his career working in government, Jim spent the last decade working in the private sector specializing in government relations, advocacy, strategic communications, policy development/analysis and association management.

19

CALGARYISM

Calgary ranks third ON PROSPERITY SCORECARD

By Cody Battershill

G

ood news everyone! Calgary has been named the third most prosperous city in the world for 2014 by the Toronto Region Board of Trade’s Scorecard on Prosperity. Here’s a peek at the top 10 most prosperous cities of the world in 2014: #1› Paris, France #2› Stockholm, Sweden #3› Calgary, Canada #4› Oslo, Norway #5› Toronto, Canada #6› Boston, U.S. #7› San Francisco, U.S. #8› Seattle, U.S. #9› London, UK #10› Sydney, Australia In 2013 and 2014, Calgary managed to place second on the annual rankings, however YYC has slipped slightly in 2015 due to a lower score in the “economic” and “labour attractiveness” categories in which it received a score of “B” instead of “A” like it had the previous year.

Calgary is the strongest economically of all Canadian cities listed, but lost two spots in the category to Paris and Stockholm. For labour attractiveness, YYC also fell to fifth spot, behind Barcelona, Spain.

On the other hand, Calgary has the shortest commuting times – approximately 52 minutes on average – and is home to some of the most affordable housing out of all North American cities that were included in the report analysis.

Calgary’s population is also one of its strong points; its rate of growth has increased considerably and the percentage of people aged between 25 and 34 is the highest on the continent. In addition, it is also a very safe city with the lowest homicide rating out of all North American cities.

More on Calgary’s Scores Calgary received five “A” grades, and ranks in the top four or five in 15 different categories. As mentioned above, the Scorecard on Prosperity highlights its population growth as one of its strong points, with an average growth of 2.9 per cent over the past half-decade.

To put things in perspective, Calgary is growing almost at the same rate as Shanghai, China.

More about the Scorecard on Prosperity The Toronto Region Board of Trade has been measuring and assessing the labour prospects and economic conditions of the Toronto Metropolitan Area since the release of its first report in 2009 by comparing the city`s performance to more than 20 others around the globe.

This results in a Scorecard on Prosperity that includes 33 different 20 NEW CONDO GUIDE | VOLUME 18 ISSUE 05 | NewHomeAndCondoGuide.ca

indicators, each split into two categories: Economy, and Labour Attractiveness.

Rankings are made using a “most successful” and “least successful” methodology, based on combined results from both categories. For a more in-depth look into the Toronto Region Board of Trade’s annual Scorecard on Prosperity, check out bot.com As a born and raised Calgarian, I must say, well done YYC! Hats off to you and the tons of wonderful people who make this place such a great place to live.

Join Us Want to know more about “the heart of the new west?” If so, join Calgaryism on Twitter, Instagram and Facebook and learn about everything to do with Calgary today. Hope to see you there!

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

H W

L b

f b

D

SOUTHEAST

HECK NO YOU WON’T MOW!

Low maintenance, single level living nestled within the beautiful enclave of Riverstone of Cranston. Spacious

floor plans available with 3 model types; including a large balcony option. For a limited time only, enjoy an upgraded Dream Garage package (up to a $10,000 value).

RELAX

CRA

on your 240 sq.ft. balcony

NB

R O

O K

DR SE

livebrookfield.com/Riverstone

Olive II shown

98 Cranbrook Drive SE | MosaicRiverstone.cgy@brookfieldrp.com 403.457.5980 | Mon - Thur: 2pm - 8pm | Fri - Sun & Holidays: 12pm - 5pm

S

BrookfieldYYC

21

MORTGAGE ADVICE

Bank of Canada holds overnight lending rate

By Alyssa Richard, founder and CEO, RateHub.ca

I

nterest rates aren’t going anywhere. The Bank of Canada has announced it is holding its overnight lending rate at 0.75 per cent for another six weeks – and depending on the picture our future economy paints, it could be for a lot longer than that.

The overnight rate has only been sitting at 0.75 per cent for a little less than three months now, after Governor Stephen Poloz finally decided to cut it down from the one per cent it had held steady at for nearly 4.5 years. That decision was made in January, in an attempt to shield highly indebted Canadians from the negative impacts of the significant drop in oil prices (and job losses that have occurred as a result).

With oil prices staying low and the economy continuing to suffer, it was presumed that the central bank would further cut its rate in March and again at this most recent interest rate announcement – but that didn’t happen.

In a speech he made just a few weeks ago, Poloz announced that, “the first quarter of 2015 will look atrocious, because the oil shock is a big deal for us.” And it did. “The Canadian economy is estimated to have stalled in the first quarter of 2015. The ultimate size of this impact will need to be monitored closely.”

As of press time, total CPI inflation is at one per cent, which reflects the drop

in consumer energy prices, and core inflation remains close to two per cent.

Unfortunately, first quarter results will place additional pressure on inflation, but GDP growth is expected to rebound later this year. And the central bank continues to offer messages of hope that the economy should reach and remain at full capacity by the end of 2016.

If the economy doesn’t pick up, we could see another interest rate cut this year. But my guess is Poloz will monitor it for a longer period of time than just three or four months before making that decision. The next interest rate announcement is on May 27, so we’ll see what the future holds then.

TAKE A PEEK BEHIND OUR BLINDS! Behind every Livingstone Townhome is a fully insulated & drywalled double garage, perfect for keeping your car in the style it’s become accustomed to. But it’s not just your car we’re spoiling, these turnkey townhomes come fully loaded.

Starting From The

360’

$

s*

Plus GST

• Stainless steel appliance package • Laminate flooring throughout main floor • Deck, fence & landscaping included • Quiet location • Flexible Down Payment Plan Available

NO CONDO FEES *Rendering is artist’s concept only and may be subject to change. Prices subject to change without notice. E.&.O.E.

This is the opportunity you’ve been waiting for. You CAN have it all.

VISIT OUR SALES CENTRE AT 52 LEGACY GATE SE • 403.460.7930 • www.livingstonetownes.com 22 NEW CONDO GUIDE | VOLUME 18 ISSUE 05 | NewHomeAndCondoGuide.ca

DATE:

F I L E

N A M E S

A R E

F O R

I N T E R N A L

U S E

O N LY

2 Car parking pad or garage

Rear deck/ patio

Landscaped private yard Granite or quartz kitchen countertops

Sunset Ridge | from the $340s COCHRANE

Legacy | from the $350s Mahogany | from the $390s

Laminate flooring

NORTHWEST

NORTHWEST COMMUNITIES

AIL

IL FO OT TR A

32 AveBY KNIGHTBRIDGE

15 THE GROVES OF VARSITY

BY STATESMAN HOMES

5353 Crowchild Trail NW 16 AVENUE

18 SONOMA AT SAGE HILL

BY VERTICAL PROPERTIES

E Sage Valley Boulevard IV881 D R www.sonomasagehill.com

ME M O R I AL

21

36 STREET

21 LIDO

BY BATTISTELLA

17 Ave

Sales Centre 1120 Kensington Rd

37 STREET

04 WILLOW AT SHERWOOD

BY AVI URBAN Visit Sales Centre at 64 Nolan Hill Gate

05 ARRIVE AT EVANSTON

BY PARTNERS DEVELOPMENT GROUP Symons Valley Parkway please call 587-755-1166

Sales Centre located on Evanspark Blvd. NW

BARLOW TRAIL

06 TRINITY

BY JAYMAN MODUS 44 Nolan Hill Blvd. NW GLENMORE RESERVOIR

22 AVIRA

BY JAYMAN MODUS

BLACKFOOT TRAIL

3503 Sage Hill Drive NW

19

ELBOW DRI VE

03 VIRIDIAN

BY TRICO HOMES

SARCEE TRAIL

69 STREET

85 STREET

RE T

BY BUCCI RAIL 2nd Ave and 10th St. NW

12 EMERALD SKY

BY CARLISLE GROUP 14 UNIVERSITY CITY

02

11

Register today: Ezraonrileypark.com

355 Kincora Glen Rd. NW www.emeraldsky.ca

16 AVENUE

01 PANORAMA WEST

BY CARDEL LIFESTYLES 175 Panatella Hill NW 02 KENSINGTON GLENM O

CALGARY INTERNATIONAL AIRPORT

64 Ave

OLD BANFF COACH ROAD

11 EZRA ON RILEY PARK

BY BIRCHWOOD PROPERTIES

EDMONTON TRAIL

JO HN CR LA OW UR 14 IE CH BLV ILD D. TR AIL

Now Open Show suite 175 Panatella Hill NW

W

CENTRE STREET

E

NOSE HILL PARK

TRA

IL N

14 STREET

AIL ENU

14 ST RE ET

Register: cardelcondos.com

10 SAGE PLACE

BY CARDEL LIFESTYLES

ER

DIN GTO N

09 NOLAN PARK

BY CARDEL LIFESTYLES

DE

BED

TR AG AN SH

SE NO

Y TR

16 A V

CENTRE STREET

01 .

BLVD

LS Y HIL UNTR

NA PI

R. LD HIL

E STON

15

Register: jayman.com/carnaby

22

CO

08 CARNABY HEIGHTS

BY JAYMAN MODUS

STONEY TRAIL NW

HA RV BLVEST H D N ILLS E

STONEY TRAIL NW

05

Sherwood Blvd at Sherwood Way NW Register Now www.thetimbers.gablecrafthomes.ca

MacLEOD TRAIL

COUNTRY HILLS BLVD.

14TH ST NW

10 18 03 SY MO NS VA 08 06 07 LLEY RD 12 .

04

SYMONS VALLEY PKWY

09

85 ST. NW

ROCKY RIDGE BLVD.

144 AVE NW.

07 THE TIMBERS

BY GABLECRAFT HOMES

SOUTHLAND DRIVE ANDERSON ROAD

DEERF

OOT T

W BO

CRE

M AIL TR

AIL

VITT

McKE

TR OD

LE Mac

S JAME

SHAWNESSY BLVD.

EK P ARK

TTO BO

FISH

RAIL

IS OF

U MARQ

E LORN

TRAIL

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 05 | NEW CONDO GUIDE 25

CONDO PROFILE

Buyers eager for launch of

CARLISLE’S EMERALD SKY AT KINCORA

By Heather Ryan

A

long line of people eager to buy affordable, quality-built condos in one of northwest Calgary’s premier communities made for a successful launch of the Carlisle Group’s newest master-planned urban village.

If early registrations (which tallied more than 800 interested buyers) are any indication, there are a lot of people looking forward to buying a home at Carlisle Group’s first ‘Elite Series’ project – Emerald Sky at Kincora.

Emerald Sky features a modernlook design with high-grade finishes and will include five, sixstorey buildings consisting of 633 26 NEW CONDO GUIDE | VOLUME 18 ISSUE 05 | NewHomeAndCondoGuide.ca

apartment-style condos and 33 townhomes.

“The buildings are all concrete and steel construction. Even the walls between each unit will be concrete,” says Jim Bryce, vice-president of sales and marketing. “Using these materials means a quieter and safer environment for homebuyers and also offers great value for resale.”

As the first six-storey concrete and steel construction condominium being built in the area, “Emerald Sky literally stands out on its own,” he says.

Along with the concrete and steel construction, a major appeal for buyers is the price – Emerald Sky offers an exceptional price with two bedrooms starting in the $180,000s.

Carlisle Group offers plenty of choice for buyers, including onebedroom, one-bedroom-plus-den, two-bedroom and two-bedroomplus-den plans ranging from 571 to 937 sq. ft., which will appeal to everyone from first-time buyers to empty nesters and anyone looking for an ultra-comfortable and maintenance-free lifestyle.

The suites offer modern, bright and open-concept designs that make efficient use of space with lots of energy-efficient windows to ensure an abundance of natural light.

This Elite Series of homes presents well-appointed interiors that include granite countertops in the kitchens and bathrooms, stainless steel appliances, upgraded lighting, wood shaker cabinets, in-suite laundry with front-load washer and dryer, and luxury vinyl plank flooring in the entry, kitchen and bathrooms.

There is also a variety of colour motifs and upgrades available, so buyers have the opportunity to personalize their space. The Carlisle Group offers an online design centre to help prospective homebuyers visualize their space.

Emerald Sky provides all residents with heated underground parking, secured bicycle storage and there will be a shared barbecue patio on the rooftop of each building Emerald Sky also provides all residents with heated underground parking, secured bicycle storage and there will be a shared barbecue patio on the rooftop of each building. As well, there will be greenspace with walking paths, benches, courtyards, relaxing gardens and trees nestled throughout the development, creating an oasis just outside your door and providing a beautiful place for socializing with friends and family.

“We are proud of the value proposition we provide to customers,” Bryce says, noting that Carlisle Group’s pricing is typically 10 to 20 per cent below market pricing. “We provide quality condominiums at a very affordable price, and we provide great value.”

Emerald Sky also offers a stellar northwest location, being just north of Stoney Trail, between Shaganappi Trail and Symons Valley Boulevard N.W. and with easy access to all these major transportation routes.

As an added benefit for buyers, Kincora is an established community with a wide range of amenities and conveniences within easy reach. Emerald Sky is within walking distance of a planned transit hub and Sage Hill Crossing, a major 386,000-sq.-ft. retail project that includes a recently opened Walmart with more shops, services, coffee shops and restaurants expected to open soon. Plus, it’s a short drive to nearby Creekside Shopping Centre, Beacon Hill Shopping Centre, Symons Valley Ranch Farmer’s Market and Cross Iron Mills.

For more information about Emerald Sky at Kincora, visit the presentation centre at 355 Kincora Glen Road N.W., which is open Monday through Thursday from 2 to 8 p.m.; and weekends and holidays from noon to 5 p.m.

Call 403.460.2510, email Calgary@CarlisleGroup.ca or visit emeraldsky.ca NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 05 | NEW CONDO GUIDE 27

now selling

Go to EmeraldSky.ca FOR MORE INFORMATION CONCRETE AND STEEL CONSTRUCTION FOR THE INTELLIGENT PURCHASER

Quiet, Modern & ultra coMFortaBle

standard Granite countertops & stainless steel appliances indoor Heated parKinG (some with direct access)

Master planned urBan VillaGe desiGn

coMMandinG location WitH stunninG VieWs

CONCRETE PRICED bETTER THAN OUR COMPETITOR’S WOOD ConCrete Ceiling

ConCrete wall between suites

qUIETER

qUIETER

ConCrete wall between suites

bETTER RESALE

SAFER ConCrete floor

$180’s For immediate possessions visit CarlisleGroup.ca

KINCORA GLEN ROAD NW

NS RD. MO Y SY LLE VA

2 BedrooMs FroM tHe

37TH ST.

PICTURE PERFECT LIvING

STONEY TRAIL NW

Sales Centre Hours: Mon.-Thurs. 2-8 pm Sat. & Sun. 12-5 pm Closed Fridays

403.460.2510 ARTIST’S RENDERINGS ONLY

now selling

Go to LegacyGate.ca FOR MORE INFORMATION

ALBERTA’S #1 CONDO BUILDER

MAYBE IT’S BECAUSE WE’RE SO EAGER TO PLEASE

South Calgary’s Most Desirable Location CONSTRUCTION STARTED

$160’s

FROM ThE

YOU QUALIFY WITH A HOUSEHOLD INCOME OF

FEATURING • Choice of 4 professionally designed interior finishing packages

$35,000

WITH PAYMENTS FROM

• 5 appliance package • Spacious patio or deck • Hardieboard fibre cement siding • Secure titled heated underground parking

MARQUIS OF LORNE TRAIL SE (22X)

$688

MONThLy*

ASk AbOUT OUR EASY DOWN PAYMENT PLAN!

ARTIST’S RENDERING ONLY

*OAC based on 5% deposit, 3.19% interest amortized over 25 years.

SALES CENTRE LOCATEd AT 210 AVE SE, CALGARy

210 AVENUE SE LEGACY BLVD SE

IL RA DT EO CL MA

SALES CENTRE HOURS: Mon - Thurs 2-8 pm Saturday, Sunday & Holidays 12- 5 pm

403.460.5206

NOW SELLING IN 5 LOCATIONS

ALBERT PARK: ShOW SUITE OPEN AIRdRIE: ShOW SUITE OPEN KINCORA EMERALd SKy: PRESENTATION CENTRE NOW OPEN

FOR MORE INFORMATION VISIT:

carlislegroup.ca OR CALL US AT:

403.571.8426 IMMEDIATE POSSESSIONS AvAILABLE

LEGACy: PRESENTATION CENTRE NOW OPEN COChRANE: By APPOINTMENT ONLy EDMONTON: IN MANY LOCATIONS

CONTEMPLATING CONDOMINIUMS

How condo style impacts value

By Linda Palfi

L

ike people, condominiums come in all types, sizes and shapes. There are also issues affecting each style of condo home and its market value:

Highrise condos: The first condo to come to most people’s minds, of course, is an apartment. Variations on the apartment theme include four-storey walk-ups, highrises served by elevators, and penthouses, which could involve multiple decks, rooftop decks and/or multiple levels. Keep in mind that upon resale, the market has a bias in favour of views in highrises, and a bias against groundfloor suites. It’s not that lack of view or being on the ground floor has a dramatic impact on value, but when there is a selection, these suites sometimes take longer to sell and don’t command quite as high a price. If you prefer groundlevel, of course, that can save you money at purchase.

When thinking views, consider direction. Homes that face more than one direction, with at least one looking to the sunny south, sell faster and for a higher price. There is a slight bias against north-facing suites, although I’ve had buyers who specifically wanted them. Again, that means some bargain power for them when they shop, but it’s also a consideration when they eventually sell.

Condo townhomes: Townhouse condos have even more variations than apartments. Some of them have full basements, while others are built “concrete slab on-grade.” Having a basement adds value that will be reflected in the price per square foot for the above-grade area of the home. Townhouses also have more value if they are built in a single row, with light from both front and back.

The end units of such rows might also have end windows, so these get light from three sides – very popular sellers. Other townhouse designs are “back-toback,” so the non-end units have windows facing only one direction.

In addition, townhouses can be built with every suite of two or three levels being vertically separate. Others are “stacked” three-storey buildings, with a bungalow suite on the ground floor, and a two-storey suite above. In some cases the bungalow extends under two back-to-back homes above, so the bungalow has windows front and back, but the homes above do not.

Other considerations are that some of these buildings are concrete, although most are wood-frame construction, and some townhouses have driveunder parking for one or even two cars, while most have stall or carport parking.

With all these variations, the value of each should be obvious, and they combine with location to create the market value of each home.

Retirement villas: Also called “bungalow townhouses,” these one-storey attached condo homes tend to be newer, are often alongside golf courses, and commonly have an age restriction, such as 55+ only. Villas are often built as duplexes, so every home has windows on three sides, yet some developments have “inside units” that are bracketed between their attached neighbours. Other factors influencing value will be the number of bedrooms or a den, whether the attached garage is for one or two cars, whether the basement (if it has one) is finished, and whether that basement has a walkout with lots of windows.

30 NEW CONDO GUIDE | VOLUME 18 ISSUE 05 | NewHomeAndCondoGuide.ca

Bare land condos: Lastly, unattached single-family homes can be owned as condominiums. These homes are easier to understand than some believe, and can be much like any other subdivision. Firstly, be assured that you own the land as much as anyone does anywhere else. You also own the entire house that has been built on the land you own. But you also share ownership of the condominium corporation that has a package of service and maintenance agreements you agree to when you buy.

You agree to exterior maintenance standards, and the work is done collectively to save money and maintain consistency. As well, you agree to jointly organized lawn cutting, landscaping and snow clearing. All in all, it’s a house, but for a modest fee, you can travel for months, or golf, and outward appearances will be maintained.

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

NORTHWEST

3 STOREY TOWNHOMES STARTING IN THE $330’S

*Do not include GST. Possession subject to availability. Prices subject to change without notice. E&O.E,

CMHC REPORT

National housing starts slow down to manage level of inventory: CMHC

T

he trend measure of housing starts in Canada was 179,016 units in March compared to 180,236 in February, according to Canada Mortgage and Housing Corp. (CMHC).

“Despite recent month-to-month changes in the seasonally adjusted annual rates (SAAR), the trend in housing starts essentially held steady in March compared to February,” says Bob Dugan, chief economist at CMHC’s Market Analysis Centre. “However, the trend in housing construction has moved lower since September 2014, partly reflecting efforts to manage the level of completed but unsold units.”

The trend measure of housing starts in Canada was 179,016 units in March compared to 180,236 in February, according to CMHC CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of Canada’s housing market. In some situations analyzing only SAAR data can be misleading, as they are largely driven by the multi-unit segment of the market which can vary significantly from one month to the next.

The stand-alone monthly SAAR was 189,708 units in March, up from 151,238 units in February. The SAAR of urban starts increased by 28.1 per cent in March to 177,459 units. Multiple urban starts increased by 48.2 per cent to 125,263 units in March while the single-detached urban starts segment decreased by 3.4 per cent to 52,196 units.

In March, the seasonally adjusted annual rate of urban starts increased in Ontario, British Columbia, Québec and the Prairies, while it decreased in Atlantic.

Rural starts were estimated at a seasonally adjusted annual rate of 12,249 units.

32 NEW CONDO GUIDE | VOLUME 18 ISSUE 05 | NewHomeAndCondoGuide.ca

Built Green (20/3)-/cb

NORTHWEST

AT EVANSTON

AT REDSTONE

ARRIVE HOME Take pride in owning an ARRIVE townhome because it’s built environmentally responsible – and love it because it is certified BuiltGreen™ to save you money. Our townhomes feature spacious floor plans with 2 to 4 bedrooms, all include laminate flooring, 2.5 baths, and an essential heated attached garage, with a full depth driveway.

LE

YR

OA D

STO

NW

Y NE

AIL

NW

FO

TR

ER

SY

SV AL

DE

M

ON

S

TE

VA L

SI ON

BEDDINGTON TRAIL

REDSTONE DRIVE REDSTONE WAY

REDSTONE STREET

N SY M

METIS TRAIL

O

14 ST NW

D Y

STONEY TRAIL NE

OT TRAIL

TE CA

LE

WY PK

E ND IV A US CE ND CL PA OU EX NS GR EE AY GR PL

LO 144 AVE EVANSTON DR

128 AVE COUNTRY HILLS BLVD

ON LOCATION SALES CENTRE NOW OPEN!

VISIT OUR SHOWHOMES TODAY

1 BLOCK WEST OF 14TH ST. NW ON SYMONS VALLEY PARKWAY

104 REDSTONE VIEW N.E. OFF REDSTONE WAY

CALL 587-755-1166

CALL 403-264-8963

FOR PRE-CONSTRUCTION INCENTIVES

OVER 65% SOLD

EVANSTON SALES CENTRE AND REDSTONE SHOWHOMES OPEN: MONDAY TO THURSDAY 2PM TO 8PM SATURDAY AND SUNDAY 12PM TO 5PM

ARRIVE AT EVANSTON LOCATION

ARRIVEHOME.CA

33

IN THE NEWS

SAM Awards honour finest in home-building industry

By Heather Ryan

Copperfield Park II

I

t was a night filled with excitement as both first-time and previous winners were honoured at the Canadian Home Builders Association - Calgary Region’s 28th Annual SAM (Sales and Marketing) Awards on April 18.

This year’s gala event at the Telus Convention Centre saw more than 1,600 people join in recognizing the outstanding achievements by the home-building industry’s finest, from builders and developers to marketing and sales professionals.

A record total of 834 entries were submitted by members competing for 34 NEW CONDO GUIDE | VOLUME 18 ISSUE 05 | NewHomeAndCondoGuide.ca

58 awards in 10 different categories covering all aspects of the residential construction industry.

A strong group of contenders were in the running for this year’s Grand SAM Award for Multi-Family Builder of the Year, which ultimately saw Calbridge 2010 come out on top.

Jayman Modus, Homes by Avi, Sabal by Hopewell and Morrison Homes Multi Family were all finalists for the top award.

Calbridge also won two Multi-Family category awards: Best New Design Villa/Duplex/Townhome 1,200 sq. ft.

And Over, and Best Villa / Duplex – Up To $374,999.

Jayman Modus won the award for Best New Design Apartment-Style Condo 900 sq. ft. And Over, for its Penthouse G in Overture.

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

Modus_Sun_Booklet May issue.indd 1

4/20/2015 10:47:26 AM

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 35 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 May issue.indd 2

4/20/2015 10:47:32 AM

Mod

2 AM

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 May issue.indd 3

4/20/2015 10:47:34 AM

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 6 LEFT

3 bedrooms from $460’s (INC GST) Monthly Payment from $1964 Qualifying Income from $84,662 CHBA - Calgary Region

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” • Designer blind package

- 2014 -

60 Nolan Hill Blvd NW jayman.com/trinity

Modus_Sun_Booklet May issue.indd 4

4/20/2015 10:47:43 AM

Mod

3 AM

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 $1437 Qualifying Income from $63,316 3 bedrooms from high $380’s (INC GST) Monthly Payment from $1617 Qualifying Income from $70,875 FEATURING: • 1200 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 May issue.indd 5

4/20/2015 10:47:46 AM

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) Monthly Payment from $1026 Qualifying Income from $44,655 2 bedrooms from $300’s (INC GST) Monthly Payment from $1361 Qualifying Income from $59,583 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

CHBA - Calgary Region

C

- 2014 -

Located on corner of Mahogany Blvd SE and Mahogany Way SE jayman.com/ebony

Modus_Sun_Booklet May issue.indd 6

4/20/2015 10:47:56 AM

Mod

6 AM

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 $340’s (INC GST) Monthly Payment from $1450 Qualifying Income from $63,845 3 bedrooms from $360’s (INC GST) Monthly Payment from $1554 Qualifying Income from $68,229 CHBA - Calgary Region

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

- 2014 -

263 Mahogany Way SE jayman.com/ebony

Modus_Sun_Booklet May issue.indd 7

4/20/2015 10:48:01 AM

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 May issue.indd 8

4/20/2015 10:48:11 AM

Mod

1 AM

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 65% SOLD OUT BUILDING 3 NOW RELEASED

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

Modus_Sun_Booklet May issue.indd 9

4/20/2015 10:48:14 AM

NOW OPEN

NEW 2 & 3 bedroom townhomes with garage A LITTLE OLD WORLD STYLE WITH A 15,000 SQ FT CENTRAL GREEN SPACE AMENITY WITH FIRE PIT, TOT LOT, AND BENCHES...

PRE- CONSTRUCTION PRICING !!

Starting from low $300’s FEATURING: • 1195 sq ft - 1725 sq ft • 3 storey townhomes with the ultimate of living with front and rear balconies on select homes • Single, tandem and double car garage with door opener • 6 NEW floor plans with open concept and 9’ ceiling • Stainless steel appliances • Washer & Dryer in laundry centre • 3 new interior color design palette choices • Laminate flooring • Air conditioning, hardwood flooring, ceramic tile flooring and gas range plus much more available options

60 Nolan Hill Blvd NW jayman.com/carnaby

Modus_Sun_Booklet May issue.indd 10

4/20/2015 10:48:29 AM

Mod

Buying a home is possible!

ASK US ABOUT THE JAYMAN MODUS DOWN PAYMENT SAVINGS PROGRAM

age el

9 AM

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 May with occupancy December Purchase Price

Payment Structure

350,000 plus GST 18,500 (GST) 6,300 (Rebate if applicable) 362,200 5% down $18,110 1000 Deposit Hold May 9,055 2.5% (consolidation - approximately 10 days)

Remaining 9,055 staggered monthly until last payment 45 days prior to possession June 1811

July 1811 August 1811 September 1811 October 1811

jayman.com/modus

Modus_Sun_Booklet May issue.indd 11

4/20/2015 10:48:32 AM

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.

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

Modus_Sun_Booklet May issue.indd 12

4/20/2015 10:48:42 AM

“The Overture in Currie Barracks is our newest luxury condo residence and penthouse community so it was a honour to win the award for Best Apartment-Style Condo over 900 sq. ft. as our industry continues to showcase high quality builders in these categories,” says Sandi Serr, project marketing specialist for Jayman Modus.

Homes by Avi Urban won the Multi-Family Home Award for Best Apartment-Style Condo – One Bedroom + Den for Sawyer Silverado.

“It’s always an honour to be recognized by our peers for the work we do,” says Avi Urban president Charron Ungar. “We appreciate the recognition and congratulate all the other winners from this year’s awards.”

Remington Development Corporation won the MultiFamily Home Award for Best Apartment-Style Condo – Two Bedrooms & Up for Champagne.

“Once again, the SAM Awards were a tremendous success, and we were thrilled to have won an award for a fourth year in a row for Champagne,” says Julie Seidel, Remington’s residential sales manager. “We feel privileged to be recognized amongst some of the best builders in the industry, and we offer congratulations to all the finalists and winners this year.”

This year’s gala event at the Telus Convention Centre saw more than 1,600 people join in recognizing the outstanding achievements by the homebuilding industry’s finest, from builders and developers to marketing and sales professionals The Best Multi-Family Community Award went to Macdonald Development Corporation for the Villas at Watermark in Watermark at Bearspaw, which won the Community of the Year – Calgary Region Award.

“Watermark’s truly unique setting has awarded us an opportunity to deliver an exceptional Villa home to those who deserve the view of a lifetime, the Rocky Mountains,” says Ian Macdonald, director of sales and marketing. “Our team is proud to share in the vision of this one-of-a-kind

community with our current and future residents.”

In the Sales Achievement Awards category the Sales Team of the Year – Multi-Family award went to the Brad Remington Homes’s team at Copperfield Park.

“It’s an amazing accomplishment and we are incredibly honoured to have reached this level of success,” says Bryan Logel, vice-president of sales and marketing for Brad Remington Homes. “Having achieved this before I can tell you just how difficult it is to accomplish, especially since this is based on sales volume and we’re competing against projects that are in a completely different price range. Focusing on affordability and quality has been the key to our ‘Love It, Live It, Afford It’ strategy.

This caps off an incredible year for Brad Remington Homes and the Copperfield Park development.”

As part of the SAM Awards, the Professional Home Builders Institute hands out the Customer Insight New Home Buyers Choice awards. Customer Insight surveys homebuyers through an agreement with the Alberta New Home Warranty about their builders’ customer service, and Cardel Lifestyles was presented with the customer service award in the 50-149 possession range for Panorama West.

“We’re ecstatic about the win because this award is actually determined by customers and it surveys all new home buyers so that’s what makes this special,” says Brad Logel, sales and marketing manager for Cardel Lifestyles. “To us it’s a big deal because this award recognizes the value we provide. It’s our goal to provide the highest level of customer service in the industry.”

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 05 | NEW CONDO GUIDE 35

IN THE NEWS

Ups and downs for Calgary’s housing market

By Heather Ryan

C

algary’s real estate market in March marked the third consecutive month that sales dropped by roughly 30 per cent in year-to-year comparisons, but it continues to register monthly gains after a slow start to the year, according to the Calgary Real Estate Board (CREB).

Total home sales were 1,747 in March, a 29.6-per-cent drop from the 2,481 sales recorded in March 2014, but up 30.3 per cent from the 1,217 sales in February.

Condo apartment sales saw the largest decline in year-to-year comparisons, with total sales of 299 – down 33.9 per cent from the 452 in March 2014, but up 27.4-per-cent from February’s 217.

Meanwhile, attached (condo townhouse) sales were 387 in March, a 26-percent decline from 523 in March 2014, but up 32.6 per cent from February’s 261.

Detached (single-family) sales in March, at 1,061, were down 29.6 per cent from the 1,506 tallied in March 2014, but a 30.3-per-cent hike above February’s 739 in sales.

Meanwhile, the number of new listings being added to the marketplace slowed in March after two months of gains. The total number of new listings in March was 3,136 – down 5.5 per cent from March 2014.

New detached listings saw a 9.5-per-cent decline at 1,776 – down from 1,963 in March 2014, but up 5.7 per cent from February’s 1,674. The number of new attached listings added in March was 689, on par with the 685 in March 2014

and February’s 681, while the number of new apartment listings added in March was 671, the exact same as March 2014’s but up 11.3 per cent from February’s 595.

Having more inventory compared to last year has had a slight impact on prices. Condo apartments’ benchmark price in March was $293,300, up two per cent from $287,600 a year ago, but down from $296,000 in February.

The detached benchmark price in March was $513,800, a 3.9-percent increase over March 2014’s $494,500, but down a fraction from February’s $516,000. The benchmark price for attached homes in March was $354,800, up 5.4 per cent over $336,700 in March 2014, and a dip from February’s $354,600.

2 SHOWSUITES NOW OPEN! WHO SAYS YOU CAN’T HAVE IT ALL? F o n t : J e l l y k a - E s t r y a ’s H a n d w r i t i n g - R e g u l a r )

Colors: Your Own Condo With:

• • • • • •

Pantone 376 C

9’ Ceilings Pantone 3155 C Granite Countertops Laminate Flooring Stainless Steel Appliances Parking Included Flexible Down Payment Plan Available

Condos in Sage Hill Monthly Payments Starting From

895

$

00* Condos

Includes PI & GST

BY TRICO COMMUNITIES

*Price shown include GST. Monthly payment is based on a starting price of $200,000. Payments are based on 5% down, with a 5-year fixed 2.49% interest rate, amortized over 25 years, OAC, payments do not include CMHC insurance fees or monthly condo fees. Price is subject to change without notice. E&OE. Some conditions apply.

Visit our sales centre at 3503 Sage Hill Drive NW or viridiancondos.ca 36 NEW CONDO GUIDE | VOLUME 18 ISSUE 05 | NewHomeAndCondoGuide.ca

F I L E

N A M E S

A R E

F O R

I N T E R N A L

U S E

O N LY

BEST MULTI-FAMILY LGARY COMMUNITY IN CA

WINNER WINNER

COMMUNITY OF CALGARY THE YEAR REG ION

Calgary’s Fastest-Selling Villa Community is Over 80% Sold VISIT OUR SHOW HOMES TODAY 1 Watermark Villas, Calgary (Just off 12 Mile Coulee Rd. NW) 403.474.5985

VillasAtWatermark.com

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

37

NORTHRIDGE DR

CALGARY

2A

OKOTOKS SHEEP RIVER

ST

LA

ND

RD

SOUTHRIDGE DR

BIG ROCK TR

WE

WESTRIDGE DR

7

2A

38

ZEN Okotoks CG 20150418.indd 1

16/4/15 12:13:59

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

:13:59

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 05 | NEW CONDO GUIDE 39

MAKE YOUR MOVE

The right mover for the job

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

H

iring the right moving company can save you lots of work, stress and headaches in the long run. Ensure that the company you hire upholds strict standards. How can you tell?

Do your research by asking questions. Is the company a member of the Canadian Association of Movers (CAM)? This organization exists to help people find reputable movers they can trust. To explore a company’s reputation, you can also contact the Better Business Bureau (BBB) and your provincial government’s consumer protection agency. Visit Mover.net to learn more about what CAM has to say – the first three things listed are: › ask three movers for estimates in writing; › get the terms and conditions of your move in writing; › and ensure you know how your goods will be protected for loss or damage.

If a company representative does not know how to answer your questions or glosses over them, a red flag should go up.

Of particular importance are the financial considerations. Does the company have a minimum charge, and how are you charged after that minimum is met? Will you be charged for fuel or travel time to and from their office to your home? Will there be a fuel surcharge or a stairs or long-distance walk charge if they have to park the truck some distance from your door?

Is a deposit required? What payment options are available? Do they offer free quotes? How do they arrive at a valuation that is covered by insurance? It is also important to ask if they employ full-time workers or use temps, and whether employees are covered by Worker’s Compensation.

Ask how to contact the firm’s office on moving day, in case issues arise. If all the representative offers is a cell phone number, be suspicious.

Visit the movers’ office to make sure it exists. Anyone can make anything seem legitimate online.

Have a moving contract that outlines what is expected. Read it and ask questions about anything you don’t understand.

40 NEW CONDO GUIDE | VOLUME 18 ISSUE 05 | NewHomeAndCondoGuide.ca

ZenR

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 05 | NEW CONDO GUIDE 41

ZenRavens CG20150417.indd 1

17/4/15 08:43:46

THE MOST ANTICIPATED HOMES IN VICTORIA PARK

6 AVE N

GREYHOUND BUS TERMINAL

THE GUARDIAN NORTH - SOLD OUT! MOVE IN THIS SPRING

23 AVE S

26 AVE S

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.

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

TEL 403 800 3368 Sat & Sun 12 – 5PM

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 05 | NEW CONDO GUIDE 43

HOT TOPIC

Finishes and options that pay off

By Kara Kuryllowicz

F

inishes, lighting and appliance upgrades enhance the aesthetic appeal of your condo and pride of ownership, but buyers need to make strategic selections that also improve functionality and help the unit stand out in a positive way on the resale market.

“Be smart, temper your inner designer and keep your upgrades neutral, or the extra money you’ve put into the upgrades will vanish at resale,” says Brad J. Lamb, president, Brad J. Lamb Realty in Toronto, the seller of more than 15,000 condos and Lamb Development Corp., which has projects completed and under development in Edmonton, Calgary, Toronto, Ottawa and Montreal.

“Personal statements, such as bright red, yellow or green kitchen cabinets, will take much longer to sell and you’ll take a big haircut on price.”

44 NEW CONDO GUIDE | VOLUME 18 ISSUE 05 | NewHomeAndCondoGuide.ca

Whether you plan to stay in your condo for five or 25 years, chances are you’ll eventually sell the place, so the return on your investment must be considered. It’s virtually guaranteed you’ll recoup the premium you’ll pay to be up on a higher floor, because buyers typically look up before they look at the interior finishes. However, it’s impossible to predict what, if any, reward will be reaped on upgrades. The reality is that most people upgrade because they want to feel fabulous every time they look around their condo, and they’re equally committed to impressing family and friends. Even functionality tends to be a secondary consideration. Unfortunately, the upgrades’ impact on resale value is rarely top of mind, although it’s something every condo buyer should think about if money matters to them.

continued on pg. 46

P

2 & 3 Bedroom Homes Over 1,000 sq ft From $464,900!

That means living spaces perfectly proportioned for a balanced lifestyle, with fresh air balconies and ample room to enjoy the company of friends and family. Upscale finishing, king sized spaces, environmentally smart technology, natural light, and inspiring park and city views. Live big in Bridgeland.

1st Ave. NE 9th St. NE

7A St. NE

PRESENTATION CENTRE

Memorial Dr. NE

PRESENTATION CENTRE 824 1ST Avenue NE, Calgary Open Daily 12-6pm, Closed Fridays

1, 2 & 3 BEDROOM HOMES FROM $314,900

BRIDGELANDCROSSINGS.COM

403.269.2805

Calgary Zoo

Pricing and availability are subject to change. The developer reserves the right to change the information contained herein without notice. E.&.O.E.

45

HOT TOPIC continued

“It’s all about the aesthetics and impressing everyone – functionality doesn’t come into it at all,” says Tim Huxley, lead sales consultant at Streetside Homes, Calgary.

“You’re most likely to get the best return on kitchen and bathroom upgrades, where appliances, countertops and backsplashes offer plenty of visual impact for your dollar.”

Virtually every buyer has a budget. When it’s time to sell, if your upgrades force you to price your condo above comparable units in your building, your unit might not pop up in realtors’ searches, let alone be considered for a viewing. However, provided your pricing is competitive, your upgrades could give your unit the edge over those equipped with just the standard finishes.

“Quality finishes will catch the eye of the more discerning consumer, but most buyers get caught up in the furniture,” Lamb says. “You’ll spend less and reap greater rewards if you save that money to paint your walls something other than white and have the unit professionally staged for resale.”

The range and cost of finish upgrades varies widely from developer to developer, with some, such as Lamb, installing what would typically be considered upgrades as standard in every unit, including a high-end glass backsplash, gas lines for barbecues on balconies and gas stoves in kitchens. Others offer just a handful of relatively standard upgrades, such as stainless steel appliances, hardwood floors and granite countertops.

Some developers take it up a few notches with medicine cabinets, wall-mounted ovens, front-loading washer/dryer, bathtubs with jets, a TV/iPad/surround-sound package, stone sinks, extra-thick granite counters, faucets with spray nozzles that accommodate mega-sized soup pots, and even second parking spaces.

“It’s your dream home and you’ll be living there,

46 NEW CONDO GUIDE | VOLUME 18 ISSUE 05 | NewHomeAndCondoGuide.ca

but you don’t want your equity vanishing,” Lamb says.

“Upgrade just enough to make your new home look and feel good.”

Ask yourself how the average person will react to that countertop or soaker tub as you remember that many buyers will go for the unit on the higher floor before the upgrades. How practical/functional and relevant is it really? How many homebuyers will actually see it as a must-have versus a nice-to-have feature?

Also consider whether it makes more sense to go with the builder’s upgrades, or add them yourself later on.

Condo builders and developers typically charge more than what homebuyers would pay to buy the upgrades and coordinate the install themselves, everything from hardwood floors to undermount sinks and valance lights to rain-shower heads. But oftentimes, consumers will happily pay for the convenience and accompanying warranties as well as the single point of contact in the form of the condo manager.

“Buyers appreciate that we’ve done the research, narrowed the selection down to the most appropriate options, and deal with the various trades to coordinate and oversee the installations,” says Stephanie Butler, director of marketing and sales at Amacon, a Vancouver and Toronto developer. “Investors who plan to rent out the units tend to spend less on upgrades than buyers who plan to live in their units.”

Because consumers often commit to their new condos and upgrades 12 to 36 months before taking possession, Lamb strongly suggests homeowners specify the products, brands and manufacturers or the equivalent in the contract.

“Memories fade and perceptions change over time, so use the contract to get what you paid for,” Lamb says.

INNER CITY

47

WINNER 2014

INNER CITY

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 05 | NEW CONDO GUIDE 49

The Pinnacle of

LUXURY A Brand New Magazine Dedicated to High-End Properties in Calgary and Area

The only magazine of its kind in Calgary, Luxury Living showcases high-end homes, condos and properties.

This is your exclusive opportunity to establish your property as the pinnacle of affluent living.

PICK UP YOUR FREE COPY.

E AT AVAILABLE ONLIN y.com LuxuryLivingCalgar

SPRIN G 2015

Entertaining with

JILLIAN HARRIS SUMPTUOUS IN SCARLET

H DESIGNER/ 10 QUESTIONS WIT N LENSTRA NNO DEVELOPER SHA

TO BOOK YOUR ADVERTISING SPACE CONTACT: Natalie Houghton 587.226.1313 natalie.houghton@ypnexthome.ca

AN UPSCALE ADDRESS

Brought to you by the publishers of

STAINLESS STEEL APPLIANCES AND GAS RANGE

LUXURIOUS QUARTZ COUNTERTOPS

ULTRA QUIET WASHER AND DRYER WITH CONVENIENT LINEN STORAGE

SPACIOUS WALK-IN CLOSETS IN BOTH BEDROOMS

ENTRY

ENSUITE

KITCHEN

DINING

WALK-IN CLOSET

TYPE 2 BED 2 BED + DEN 2 BED + DEN 2 BED 2 BED

BEDROOM

WALK-IN CLOSET

BATH

WD

SUITE 07 301 228 012 218

SQ FT 747 789 805 840 865

MONTHLY $1,232 $1,311 $1,327 $1,368 $1,406

HIGH GLOSS AND TEAK FINISH CABINETS WITH UNDER CABINET LIGHTING

LARGE BALCONY WITH HILLSIDE VIEWS OF DOWNTOWN CALGARY

HIGH-QUALITY GERMAN MADE HARO LAMINATE FLOORS

CONVENIENT USB POWER OUTLETS

PEACEFUL MASTER BEDROOM WITH SPACE TO DREAM

PORCELAIN TILE FLOORING

PRICE $389,900 $414,900 $419,900 $432,900 $444,900

*THE DEVELOPER RESERVES THE RIGHT TO MAKE CHANGES TO THE INFORMATION CONTAINED HEREIN WITHOUT NOTICE. MONTHLY MORTGAGE PAYMENTS ARE CALCULATED BASED ON A PURCHASE WITH A 20% DEPOSIT AND A VARIABLE MORTGAGE RATE OF 2.5% WITH A 30-YEAR AMORTIZATION PERIOD. E.&O.E.

CONSTRUCTION IS UNDERWAY GABLECRAFT.CA/BRIDGELANDHILL 403 456 2329

BALCONY

LIVING

MASTER BEDROOM

PLAN C1 D1 D2 C5 C3

PRESENTATION CENTRE LOCATED AT 736 1ST AVE, NE · OPEN DAILY 12–6PM, CLOSED FRIDAYS

PLAN C3 2 BED 865 SQ FT

HILL

BRIDGELAND

OWN A 2 BEDROOM HOME IN BRIDGELAND FROM $1,232 PER MONTH*

Y O U N G . E N E R G E T I C . C O N N E C T E D.

L IFE IS BE TTE R ON T HE H IL L .

CHBA AWARDS

Pictured: Bucci Developments Limited - Kensington

2014 SAM Awards WINNERS ANNOUNCED

C

anadian Home Builders’ Association (CHBA) – Calgary Region is pleased to announce winners for the 2014 SAM Awards.

Now in its 28th year, the SAM Awards celebrate innovation and excellence in the Calgary area’s residential construction industry. The gala, held on April 18 at the Telus Convention Centre, saw approximately 1,600 people in attendance and a record number of submissions – a total of 834 entries, submitted by members competing for 58 awards in 10 different categories covering all aspects of the residential construction industry.

The 2014 Grand SAM Winners were: Builder of the Year – Morrison Homes.; Builder of Merit – Riverview Custom Homes Ltd.; Multi-Family Builder of the Year – Calbridge 2010 Ltd.; Renovator of the Year – Ultimate Renovations; and Partner of the Year – Lux Windows and Glass Ltd. “Congratulations to all of the SAM winners. As usual, the competition at this year’s SAM Awards was extremely close,” says Shane Wenzel, chair of

the SAM committee for CHBA – Calgary Region. “The coveted SAM bird is an award that the industry has come to take very seriously. It is a symbol of the best-of-the-best that the residential construction industry in the Calgary region has to offer.”

“A mix of value and innovation, excitement and quality, is what makes the SAM Awards so coveted,” says Wayne Copeland, president of the CHBA – Calgary Region. “The industry here in Calgary is very competitive and as a result, everyone strives to achieve finalist or winner status as recognition of their achievements in delivering quality products and services.”

The awarding process is judged by volunteer industry peers, who award points in each category. The top five in each category receive additional placement points that help determine the Grand SAM winners.

Companies must enter a set number of categories in order to qualify and must win at least one of those categories. The results are authenticated by MNP LLP. CHBA – Calgary Region presents the following SAM Awards categories (the number of awards in each category follows in brackets): Advertising & Marketing Awards (8), Developer Awards (4), Industry Achievement Awards (1), Multi-Family Awards (12), New Home Awards (14), Partner Awards (3), Renovator Awards (7), Sales Achievement Awards (2), Sales & Information Centre Awards (2), and the GRAND SAM Awards (5). GRAND SAM Awards are presented to the Builders, Renovator and Partner who have demonstrated a superior achievement in design, sales, advertising and/or service.

ABOUT CHBA – CALGARY REGION The CHBA - Calgary Region is a not-for-profit organization with a membership of more than 640 companies representing all facets of new home construction, from single and multi-family builders, renovators, and residential land developers, to trades, suppliers, and professional companies involved in some aspect of home building. As many as 37,000 people work in the residential construction industry in the city.

The CHBA - Calgary Region vision: “We are the respected voice shaping the future of the home-building industry.” continued on pg. 54

52 NEW CONDO GUIDE | VOLUME 18 ISSUE 05 | NewHomeAndCondoGuide.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

Monday–Wednesday: 12pm–6pm Saturday & Sunday: 12pm–5pm Closed Thursdays & 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 05 | NEW CONDO GUIDE 53

CHBA AWARDS continued

Multi-Family Builder of the Year • CALBRIDGE 2010 LTD. ADVERTISING & MARKETING AWARDS

Best Billboard

Sponsored by Prominent Homes Ltd.

• Bucci Developments Limited

MULTI-FAMILY COMMUNITY AWARDS

Best Multi-Family Community • MACDONALD DEVELOPMENT CORPORATION

Villas at Watermark , Watermark at Bearspaw, Rocky View County

Kensington by Bucci-Site Hoarding Phase 2

MULTI-FAMILY DESIGN AWARDS

Best Brochure

Best New Design Apartment

• M2i DEVELOPMENT CORPORATION SoBow Best Brochure

Style Condo up to 899 sq. ft.

Best Direct Mail Piece

MARK A, 901 10 Avenue SW, Calgary

• ALBI HOMES LTD. Vistas of Tuscany Passport

Best Moving Media • MORRISON HOMES We are Builders

Best Print Ad • UNITED DRYWALL LTD.

Dirty Jobs

Best Audio Media MORRISON HOMES Answers

Best Website • BUCCI DEVELOPMENTS LIMITED Kensington by Bucci Website

Janine Coughlin Marketing Campaign of the Year

• QUALEX-LANDMARK WESTERN INC.

Best New Design Apartment Style Condo 900 sq. ft. and over • JAYMAN MODUS, A DIVISION OF JAYMAN BUILT

Penthouse G, Building J5, 2953 Battleford Ave SW, Calgary

Best New Design Villa/Duplex/ Townhome up to 1,199 sq. ft.

• MORRISON HOMES MULTI-FAMILY, A DIVISION OF MORRISON HOMES

The Boulevard, 428 Nolan Hill Drive NW, Calgary

Best New Design Villa/Duplex/ Townhome 1,200 sq. ft. and over

• LANDMARK GROUP OF BUILDERS The Lancaster, 211 Fireside Parkway, Cochrane

Best Town Homes - $360,000 and over • MILLENNIUM PLUS HOMES M 1923, Private

Best Villa / Duplex – up to $374,999 • CALBRIDGE 2010 LTD The Verve, 49 Fireside Cove, Cochrane

Best Villa / Duplex - $375,000 and over • ALBI HOMES LTD. Villa 8 Private Residence, Private

Best Apartment-Style Condo – One Bedroom + Den • HOMES BY AVI GROUP OF COMPANIES-AVI URBAN

Sawyer Silverado – 1 Bedroom, 1108, 175 Silverado Blvd SW, Calgary

Best Apartment Style Condo – Two Bedrooms & Up • REMINGTON DEVELOPMENT CORPORATION

Champagne Suite 502, Private

• CALBRIDGE 2010 LTD. The Brio, 49 Fireside Cove, Cochrane

Sponsored by YPNextHome

Best Town Home – up to $299,999

• BUCCI DEVELOPMENTS LIMITED

• SABAL BY HOPEWELL, A DIVISION OF HOPEWELL RESIDENTIAL MANAGEMENT

Kensington by Bucci – Marketing Campaign of the Year

Best Town Home - $300,000 $359,999

Chalet No5 – B plan, 650 Copperpond Blvd SE, Calgary

Pictured: Jayman Modus - Penthouse G

Pictured: Homes by Avi Group - Sawyer Silverado

54

55

SOUTHWEST

CHBA - Calgary Region

- 2014 -

STACKED BUNGALOWS FROM 1406 - 1622 SQ. FT. Get more from your home with an exceptionally large Hunter House stacked bungalow. Picture yourself with more space, an already established community, a maintenance free lifestyle, all the premium features you’ve dreamed of and more.

PREMIUM STACKED BUNGALOW FEATURES:

LIVE IN CALGARY’S PREMIUM SOUTHWEST ADDRESS

• 2 bedrooms plus den • Hardwood flooring in living & dining room • Quartz or granite countertops with spacious eating bar • Full size double car garage with driveway

• Stainless steel appliances including chimney style hood fan and gas range • 10’ ceilings • Large terraces and patios • Separate dining area

Stacked Bungalows from the $500’s (incl. GST)

220 Silverado Plains Park SW Mon - Thurs 1pm - 7pm | Fri - Sun & Holidays 12pm - 5pm

HunterHouseLiving.com | 403.240.4664 56

DE

TR AIL PI NA SH AG AN

DR .

HIL L NO SE

AIL EY TR STON

NOSE HILL PARK

JO

HN CR LA OW UR IE CH BLV ILD D. TR AIL

CALGARY INTERNATIONAL AIRPORT

64 Ave

16 AVENUE

ORE

TRA

IL

DR

IV E 02 BROOKLYN

13

36 STREET

03 17 Ave

14

02

07

08

05 11

09

GLENMORE RESERVOIR

05 OVERTURE

BY JAYMAN MODUS

Sales Centre Now Open in Currie Barracks

DEERF

OOT T

07 GLAS

BY AVALON

2712 17th St. SW

08 ALEX

BY ASSURED COMMUNITIES

Presentation Centre: 2719 14th St. SW

09 MISSION 34

BY ASSURED COMMUNITIES

TTO BO

98 Mission Road SW mission34.ca

M AIL

TR

VITT

McKE

AIL D TR LEO SHERIFF KING ST. SW

Mac

S JAME

01

194 AVE

RAIL

W BO

EK P ARK

SHAWNESSY BLVD.

03 OVATION

BY INTERGULF CIDEX

771 Patrick St. S.W.

ANDERSON ROAD

CRE

1710-28 Ave. SW www.brooklyncondos.ca

#2105, 99 Spruce Place S.W.

SOUTHLAND DRIVE

FISH

CONDOMINIUMS

BY TRICO HOMES

04 THE LANDINGS

BY STATESMAN

BARLOW TRAIL

NM

ME M O R I AL

37 STREET

GLE

69 STREET

85 STREET

10

1020 194th Ave S.W. www.hunterhouseliving.com

MacLEOD TRAIL

SARCEE TRAIL

4

01 HUNTER HOUSE

BY STREETSIDE DEVELOPMENT 16 AVENUE

BLACKFOOT TRAIL

OLD BANFF COACH ROAD

32 Ave

EDMONTON TRAIL

E

14 STREET

ENU

ELBOW DRI VE

16 A V

CENTRE STREET

SOUTHWEST COMMUNITIES

N F LOR

UIS O

MARQ

10 VIVACE

BY STREETSIDE DEVELOPMENTS IL E TRA

Presentation Centre: 2118, 8561-8A Ave. SE

11 JUNO

BY AVI URBAN

Sales Centre in Currie Barracks J5, 2953 Battleford Ave. SW

13 ALTADORE 36

BY BROOKFIELD RESIDENTIAL

36th St. & 16th Ave SW Register Now www.altadore36.com

14 MAX TOWNHOMES

BY ASSURED DEVELOPMENTS 1605 25 Ave SW

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 05 | NEW CONDO GUIDE 57

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

GET STARTED NOW AT

NewHomeAndCondoGuide.ca

LIVEVIVACE A D I F F E R E N T PA C E O F L I F E - Show Suite Now Open -

A MASTERPIECE UNVEILED. Limited and exclusive ownership opportunity Urban amenities of West Springs and West 85th Premium design features 路 Contemporary building design

For your VIP purchasing opportunity register online at

livevivace.ca

PRESENTATION CENTRE | WEST 85th in West Springs #2118, 8561 - 8A Avenue SW | 403-474-4875

59

60

METIS TRAIL

NORTHEAST COMMUNITIES

52 STREET

CALGARY INTERNATIONAL AIRPORT

64 Ave

CENTRE STREET 12 AVENUE

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

07 ARRIVE AT SKYVIEW RANCH ARBOURS

BY PARTNERS DEVELOPMENT GROUP

IAL DR

R MEMO

02 43 PARK

BY VERICON REAL ESTATE VENTURES

MacLEOD TRAIL

43park.ca

DEERF

52 STREET

BARLOW TRAIL

GLENMORE TRAIL

ANDERSON ROAD

114 AVE SE

OOT T RA

IL

W BO

NEW BRIGHTON

AIL

D TR

VITT

McKE

LEO

Mac

S JAME

IL TRA

EK P ARK

M

TTO BO

CRE

SHAWNESSY BLVD.

104 Redstone View (off Redstone Way)

16 AVENUE

SOUTHLAND DRIVE

FISH

06 ARRIVE AT REDSTONE

BY PARTNERS DEVELOPMENT GROUP

13

17 Ave

GLENMORE RESERVOIR

Coming Summer 2015 Register: jayman.com/harana

64 Ave

32 Ave

03 04 MEMO 02 01 RIAL D RIVE

Coming Soon bridgelandcrossings.com

05 HARANA TOWNHOMES

BY JAYMAN MODUS

80 Ave

MCKNIGHT BLVD.

16 AVENUE

01 BRIDGELAND CROSSINGS

BY APEX CITY HOMES

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

84 STREET

14 STREET

.

04 STEPS BRIDGELAND

BY GIUSTINI BRIDGES IN.

68 STREET

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

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

SADDLETREE DR.

FA L RID CON GE

NOSE HILL PARK

EDMONTON TRAIL

SH AG AN

NA

PI

DE

TR A

ER

IL

CO

05 128 NE Ave

COUNTRY HILLS BLVD.

FO OT TR AIL

VD. LS BL

Y HIL UNTR

03 LiFFT

BY VERICON REAL ESTATE VENTURES

STONEY TRAIL 06 07

U

MARQ

CHAPARRAL CRANSTON

AIL

NE TR

LOR IS OF

COPPERFIELD

ABURN BAY

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 05 | NEW CONDO GUIDE 61

IN THE NEWS

Mortgage costs about to rise for some Canadians

By Lydia McNutt

I

f you’re planning to buy a home this year with less than 10 per cent down, you can also plan for higher mortgage costs as of June 1, 2015.

Canada Mortgage and Housing Corp.

(CMHC) and Genworth Canada have announced that they are raising their mortgage insurance premiums by 15 per cent. CMHC increased its target capital requirements in mid-2014.

The move isn’t expected to have a big impact on homebuyers’ pocketbooks or Canada’s housing markets, CMHC says. The higher premium would amount to an additional $5 per month for the typical borrower with a 95-per-cent loan-to-value ratio on a mortgage of $252,530. However, in Canada’s pricier markets, those monthly mortgage costs will inevitably be higher. In addition, the looming rise in mortgage costs could also

signal a busier-than-normal spring real estate market, as homebuyers try to beat the clock on the May 31 deadline.

The increase in mortgage insurance premiums reflects concerns that Canadians are overextending their budgets by taking on more home than they can afford, leaving them in a tight spot when interest rates rise or at the slightest economic turn.

Experts advise that homebuyers plan ahead, save their money and put down as much as possible, to avoid taking out a high-ratio mortgage. Homebuyers unable to save up this often hefty amount can still buy a home with a downpayment of less than 20 per cent, but federally regulated lenders require mortgage loan insurance, which covers them in case of payment default. The lender is responsible for the premiums and passes those costs on to the homebuyer in the form of a lump-sum payment, or more commonly, higher monthly payments.

CMHC is Canada’s largest insurer of residential mortgages.

Existing mortgages, high-ratio mortgages with more than a 10-per-cent downpayment, and mortgages on multi-unit properties will not be affected by the premium increase.

95% LOAN-TO-VALUE Loan Amount

$150,000

$250,000

$350,000

$450,000

Current Premium

$4,725

$7,875

$11,025

$14,175

New Premium

$5,400

$9,000

$12,600

$16,200

Additional Premium

$675

$1,125

$1,575

$2,025

Monthly Increase

$3.12

$5.20

$7.29

$9.36

Based on a five-year term at 2.79 per cent and a 25-year amortization

62 NEW CONDO GUIDE | VOLUME 18 ISSUE 05 | NewHomeAndCondoGuide.ca

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 05 | NEW CONDO GUIDE 63

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.)

64 NEW CONDO GUIDE | VOLUME 18 ISSUE 05 | 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

ATB Financial Alterna Bank Alterna Savings Bank of Montreal (BMO) Bank of Nova Scotia CIBC Mortgages Canadian Western Bank Canadian Western Trust Comtech Credit Union First Calgary Financial First National Financial FirstOntario Credit Un. HSBC Bank Canada Home Trust Company ICICI Bank Canada Investors Group Trust London Life Manulife Bank Manulife Trust Meridian Credit Union National Bank Ontario Civil Service CU PACE Savings & Credit Un Parama Credit Union Peace Hills Trust President’s Choice Fin’l Royal Bank of Canada Servus Credit Union Steinbach Credit Union T-D Mortgage Tangerine Windsor Family C.U. Your Neighbourhood C.U.

2.350 2.450 2.450 2.850 2.850 2.850 3.050 3.050 2.250 2.850 2.850 2.500 3.050 2.850 2.850 2.550 2.650 2.850 3.000 2.500 2.850 2.850 2.850 3.000 -

6 MONTHS

4.000 4.000 4.000 4.000 4.550 4.450 4.000 4.000 6.200 4.000 3.950 4.240 4.450 3.950 4.200 4.200 4.450 4.450 4.000 4.400 6.000 5.000 4.500 6.190 3.140 4.000 3.140 4.450 -

1 YEAR

2 YEARS

2.940 2.980 2.980 2.890 3.290 2.890 3.140 3.140 2.890 2.890 2.840 2.990 3.140 2.890 3.150 3.140 3.140 3.000 3.000 3.090 2.890 3.090 2.890 2.700 3.150 3.190 3.140 2.890 2.600 2.890 3.190 3.140 2.990

2.640 2.980 2.980 2.840 3.090 2.840 3.040 3.040 2.890 2.890 2.490 3.040 3.140 2.440 3.650 3.090 3.090 2.940 2.940 3.090 2.840 3.040 2.590 2.900 3.500 2.840 3.040 2.840 2.700 2.840 3.240 3.140 3.000

3 YEARS

4 YEARS

2.640 2.980 2.980 3.390 3.390 3.550 3.650 3.650 2.950 2.490 2.590 3.190 3.540 2.540 3.640 3.750 3.750 2.840 2.840 3.550 3.390 3.500 3.390 3.000 3.750 3.490 3.650 3.390 2.750 3.390 3.490 3.750 3.190

2.740 2.940 2.940 3.890 3.890 4.140 4.200 4.200 2.990 3.090 2.690 2.990 4.240 2.640 3.690 4.390 4.390 2.790 2.790 3.290 3.890 3.040 3.890 3.100 3.850 4.040 4.390 3.890 2.850 3.890 3.690 3.950 3.300

5 YEARS

2.840 2.780 2.780 4.740 4.490 4.790 4.790 4.790 2.790 2.950 2.690 2.790 4.740 2.640 3.690 4.790 4.790 2.790 2.790 2.750 4.740 3.290 4.740 3.200 3.950 4.440 4.640 4.640 2.850 4.740 3.790 3.790 3.190

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 05 | NEW CONDO GUIDE 65

INDEX OF ADVERTISERS

READ MORE ABOUT OUR ADVERTISERS! Albert Park Station

Carlisle Group

Alture MidCity

Alture Properties

28-29 19

Arrive at Evanston

Partners Developments

33

Auburn Walk

Cardel Lifestyles

3

Avenue

Grosvenor

53

Bridgeland Crossing

Apex City Homes

45

Bridgeland Hill

GableCraft Homes

51

Canoe

Avi Urban

67

Chalet No. 6

Sabal Homes

17

Champagne

Remington Development Corp.

2

Copperfield Park III

Brad Remington Homes

Creekside Village

Carlisle Group

28-29

Emerald Sky

Carlisle Group

26-29

1, 11-13, 68

Ezra

Birchwood Properties

The Gates

Remington Development Corp.

24 14

The Guardian

Hon Towers ltd.

42

Heartland Townhomes

Excel Homes

39

Hunter House

Streetside Developments

56

Jayman Financial

Jayman BUILT

48

Jumping Pound Ridge

Slokker West

7

Legacy Gate

Carlisle Group

28-29

LIDO

Battistella

44

LiFFT

Vericon

49

Livingstone

Trico Homes

22

Max

Assured Properties

60

Mosaic Riverstone

Brookfield Residential

21

Park Point

Qualex Landmark

6

Riverfront Pointe

Carlisle Group

Scollen House

320 Mission Developments

28-29 55

Smith

Grosvenor

49

Stonekeep

Merge Developments

58

StreetTowns

Homes by Avi

23

The Timbers

GableCraft Homes

4

V&V

Providence Developments

47

Viridian

Trico Homes

36

Vivace

Streetside Developments

59

Waterfront

Anthem Properties

5

Villas at Watermark

Watermark

37

Willow

Avi Urban

31

Zen Okotoks

Avalon Master Builder

38

Zen Ravenswood

Avalon Master Builder

41

Jayman Group of Companies

PULLOUT INSERT

Avira, Ebony, Overture, The Rise, Trinity & Carnaby Heights 66 NEW CONDO GUIDE | VOLUME 18 ISSUE 05 | NewHomeAndCondoGuide.ca

nEw PhaSE with mountain viEwS!

Sales Centre: 755 Copperpond Blvd. SE | 403.723.0094 2:00-8:00pm Monday-Thursday |12:00-5:00pm Sat-Sun/Holidays

www.copperfieldpark.com

MAP IT!

CondoS from thE mid $100’S