Calgary New Condo Guide - May 29, 2015

May 29 - June 26, 2015 Volume 18 Issue 6

CALGARY’S MOST SUCCESSFUL REAL ESTATE COMMUNITY

OPPORTUNITIES STILL AVAILABLE · CONSTRUCTION BEGINS SUMMER 2015 WATERFRONTCALGARY.COM 403.536.8802

INSIDE THIS ISSUE

HOUSING VALUATIONS: WHO & WHAT TO BELIEVE

CALGARY IS GROWING “UP”

JUNE 30TH: THE BUSIEST MOVING DAY OF THE YEAR

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6

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 06 | NEW CONDO GUIDE 7

CONTENTS

MAY 29 – JUNE 26, 2015

VOLUME 18

ISSUE 06

COVER STORY

11

Anthem poised to start construction on

Parkside At Waterfront

by Heather Ryan

COLUMNS / NEWS / HOMEBUYERS’ HELP 10 Editor’s Note 18 CMHC Report Housing starts stabilize in April 20 Condo Sense 10 tips for condo hunters

by Jordan Beach

22 Calgaryism Calgary is growing “up”

by Cody Battershill

24 In The News Calgary at low risk of housing market correction

by Lydia McNutt

26 Contemplating Condominiums Fido and Fluff y usually welcome in condos

by Linda Palfi

30 Mortgage Advice Does the lowest rate rule?

54 Make Your Move Prepare for the mass exodus

by Alyssa Richard

38 Fundamentally Speaking Housing valuations: Who and what to believe?

by Wayne Karl

42 Homebuyers’ Help Boost the future resale value of your new condo 44 Q&A In the kitchen with interior designer Jillian Harris 46 The Home Buying Process Home builders shine at annual CHBA - Calgary SAM awards

by Donna Moore

by Chuck Resnick

58 Finances Five things first-time homebuyers need to know 60 Outdoor Living 2015 outdoor trends

by Carson Arthur

62

Advertiser Index

63

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

PRESIDENT, YELLOW PAGES NEXTHOME

PROJECT LOCATION MAPS

Jacqueline Hill EDITOR-IN-CHIEF / DIRECTOR OF CONTENT

15

Inner City

37

Southeast Map

27 Northeast Map

51

Southwest Map

29 Northwest Map

57 Satellite Communities

Susan Legge DIRECTOR OF SALES

Moe Lalani SENIOR SALES MANAGER, WESTERN CANADA

Edwin Rizarri ART DIRECTOR

Daiana Garay EDITOR

CONDO PROFILES

34 CARNABY HEIGHTS by Jayman Modus Jayman Modus launches Carnaby Heights townhomes in Nolan Hill

By Heather Ryan

Lydia McNutt CONTRIBUTING EDITORS

Wayne Karl Elisa Krovblit Sara Duck (on leave) 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

40 SANDGATE

by Hopewell Hopewell launches Sandgate in award-winning Mahogany

By Heather Ryan

48 LEGACY PARK

by Brad Remington Homes Brad Remington continues to ‘Love It, Live It, Afford It’ with Legacy Park

By Heather Ryan

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

YPNextHome.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

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

INSPIRATION AND A FEW SURPRISES AWAIT

SUSAN LEGGE Editor-in-chief

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

Want to get a feel for what’s hot in the world of technology and design this year? All you have to do is visit today’s gorgeous show suites and take a look around. You’re sure to be inspired and surprised.

Shopping for a new condominium is a great opportunity to see the latest technology and decorating trends, while comparing features and finishes of different projects. If you’re buying brand new, you’ll likely be buying from floor plans, which can be tough. The show suites bring those plans to life, helping you envision what life might be like after you paint the white walls in the latest designer colours and set up your home office with all the latest gadgets and gizmos.

In terms of furnishings, a tour of any show suite will prove that there is plenty of cutting-edge creativity being applied to new condos today. From simple suites to extravagant penthouses, inspiration and a few surprises await you.

SET YOUR SIGHTS SKYWARD

LYDIA MCNUTT Editor

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

A steadily increasing population in Canada’s urban centres means the demand for homes – and prices – are also growing. In the face of rising costs, homebuyers are turning down other avenues to make their home ownership dreams a reality. Some are looking at the suburbs, which offer a lower cost of living, but the trade-off is often longer commute times and fewer conveniences close to home. Meanwhile, others are setting their sights skyward in search of new digs.

Condo living has certainly gained popularity, and not just among first-time homebuyers either. More and more, we’re seeing condominiums become the home of choice for families, thanks to their prime locations, convenient lifestyle and the affordability they offer.

There’s a new dream home on the market – “new” not just in terms of construction, but in concept as well. Developers today are designing condos with efficient layouts and smart features, and they’re not just “small but sweet” spaces anymore either. The rising trend of two- and even three-bedroom suites welcomes those who choose to call condos “home” as their family grows and their needs change through the years.

When hunting for your next home, think about what’s most important to you – now, and in the future. A successful home search will balance price, location and amenities. Do your research, explore all avenues, and see what your budget can really buy.

10 NEW CONDO GUIDE | VOLUME 18 ISSUE 06 | NewHomeAndCondoGuide.ca

COVER STORY

Anthem Poised to start construction on Parkside At Waterfront

By Heather Ryan IT’S BEEN ALMOST DECADE SINCE

Anthem Properties launched the first phase of its incredible Waterfront condominium development, offering a premier address alongside the Bow River in the upscale urban community of Eau Claire.

Today, with almost 1,000 suites sold in this multi-tower project, Waterfront is moving into the final phase with construction to begin this summer on the last buildings.

“Waterfront has been phenomenally successful for us,

which we started back in 2005/2006 and we’ve had a great response despite the fluctuating economy,” says Greg Zayadi, vice-president of sales and marketing. “We were hit with the downturn in the economy in 2008 and 2009, but continued on selling out the first phase, and then we had just launched our second phase with Outlook when the flood hit the city.

“With that building completely sold out, we then launched our final phase with Parkside this September, at a time when the oil price had begun to soften,” he adds. “But despite that, to date in Parkside we’ve sold almost 279 homes in the three buildings we launched in the fall with about 20 suites remaining.”

In April, Anthem released a nine-storey building, the fourth in the Parkside phase, consisting of 71 suites of which 43 have already been sold. “So out of 361 suites in Parkside, we’ve sold 322, and NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 06 | NEW CONDO GUIDE 11

The exterior will be influenced by the location, taking shapes and patterns from the ripples of the river for a dynamic architectural look. Landscaping will also feature natural elements such as stone and native riverside plant species. because of these sales we’re starting construction this summer,” Zayadi notes.

“The success of Waterfront is not really in the sales, but that we were able to move forward with this project through the changes in the economy, and it’s been satisfying to see our big vision become a reality,” he says.

“Waterfront is the second largest development in our portfolio so it’s exciting to see it nearing completion, and soon we’ll begin another highrise community in Calgary’s Erlton that could start later this year.”

Along with the construction of Parkside, Zayadi says work will also begin on Parkside’s yet-to-be-released flagship building – a six-storey, exclusive penthouse estate terrace building on the northeast corner of the site by the Riverwalk.

12 NEW CONDO GUIDE | VOLUME 18 ISSUE 06 | NewHomeAndCondoGuide.ca

This luxury building will feature just 14 suites ranging from 1,500 to 2,000 sq. ft. with high-end features and finishings, and priced from $1.2 million to more than $2 million with sales expected to begin next year.

Currently, Anthem is down to the final sales in Parkside with the majority of the suites available being one-bedroom-plus-den and twobedroom designs ranging from 600 to 1,000 sq. ft. with prices starting in the mid-$300,000s.

The suite interiors reflect a modern, stylish design and quality

specifications. Meanwhile, the exterior will be influenced by the location, taking shapes and patterns from the ripples of the river for a dynamic architectural look.

Landscaping will also feature natural elements such as stone and native riverside plant species.

Located along the river, within an easy walk to work downtown, and offering thoughtful designs and terrific features has made Waterfront appealing to everyone, from first-time buyers who want a great location and value to executives looking for luxury and downsizers and emptynesters who do not want to compromise on space or quality and desire a maintenance-free lifestyle.

Parkside sits beside Sien Lok Park, is fronted by Prince’s Island Park, and is right along the Riverwalk, giving residents beautiful vistas with park views, river views and mountains to the west. Its location in Eau Claire means there are a variety of restaurants, shops and services all within walking distance, and a Plus-15 is located across the street.

To learn more about Parkside at Waterfront or to register, visit the presentation centre at 216 Riverfront Ave. S.W., open daily from noon to 5 p.m. (closed Fridays) or check out waterfrontcalgary.com.

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 06 | NEW CONDO GUIDE 13

THE MOST ANTICIPATED HOMES IN VICTORIA PARK

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starting at $264,900

2-BEDROOMS

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

Prices subject to change without notice. E&EO. 14

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.

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East Village Experience Centre 553 Riverfront Ave. SE

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19 CONVENTION CENTRE

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TALISMAN SPORTS CENTRE

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BY VERICON REAL ESTATE VENTURES 43park.ca

20 LIDO

BY BATTISTELLA

Sales Centre 1120 Kensington Rd

21 V&V

BY PROVIDENCE GROUP Register: einsteincalgary.com

22 ALEX

BY ASSURED COMMUNITIES

Presentation Centre: 2719 14th St. SW

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

08 DISTRICT

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

09 LiFFT

BY VERICON REAL ESTATE VENTURES

05 THE GUARDIAN

BY HON TOWERS

10 BRIDGELAND CROSSINGS

BY GABLECRAFT HOMES

12th Ave SE at 3rd St.

Sales Centre Now Open in East Village

1035 5th Ave. SW

04 WATERFRONT

BY ANTHEM PROPERTIES 216 Riverfront Ave. S.W.

19 VERVE

BY FRAM + SLOKKER

23

06 AVENUE

BY GROSVENOR & CRESSEY

Coming Soon Register now at Qualex.ca/ ParkPoint

East Village Experience Centre 553 Riverfront Ave. SE

CALGARY EXIBITION AND STAMPEDE PARK

01 RIVERFRONT POINTE

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101 Riverfront Avenue S.E.

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NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 06 | NEW CONDO GUIDE 15

EDMONTON’S NEW RENTAL UNIT CONSTRUCTION SOARS IN 2015 (PART 1)

In the first four months of 2015, housing unit starts in

terms of sales and price growth, with the resale side of

the Edmonton region have grown 136% on an annual

this market experiencing continued price growth thus

basis*. While owner-intended starts have nearly

far in 2015.

doubled by this measure, today’s construction is being heavily bolstered by an insurgence in apartment rental

Given the above, one might ask why there is a need

starts – 981 since January 2015*.

to build new rentals when we can just promote further homeownership in the new condo market.

One obvious driver of this trend has been the region’s consistently thin vacancy rates within professionally

The answer to this is an unforeseen real estate market

managed rental buildings. For those looking to rent,

trend and an appearing, if not now apparent, consumer

finding an apartment in this market can be daunting,

trend. In past articles, we have written about the

with many settling outside of desired areas, or for less

opportunities for investment in Edmonton’s secondary

desirable options. This situation has caused average

markets, as highlighted by the fact that while the city of

rents in the region to grow faster than anywhere else

Edmonton’s entire stock of apartments grew by over

in Canada*.

7000 units from 2012 to 2014, occupancy rental rates remained stagnant at roughly 30 percent. All of this

Many real estate agents and new condo developers

occurred while the professionally managed stock of

now note that today’s rental costs closely resemble

rental apartments remained stagnant*.

the mortgage payment one might pay on a condo.

This point should seemingly hold close sentiment with

It seems that developers of these new primary rental

Edmontonians who maintain one of the highest housing

projects have tuned into an emerging trend that was

homeownership rates of all major Canadian regions*.

previously being serviced primarily by secondary rental market investors. What is this trend?

Local values like this may also help explain the success of the region’s many apartment rental condo conversion

More on this next time…

projects that took place between 2005 and 2011 – a time when the primary rental market was reduced by over 8,000 apartment units*. Furthermore, condos for

*Statistical figures and trends are based on public publications

sale have experienced great successnewest in recent years in Intelligence House is Edmonton’s and most 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

provided by the CMHC.

innovative Real Estate Marketing Agency with a focus on strategic market intelligence which includes full research, marketing and sales services to the real estate industry.

16 NEW CONDO GUIDE | VOLUME 18 ISSUE 06 | NewHomeAndCondoGuide.ca

From left to right: Michael Melnychuk Alex Ruffini Emmett Hartfield

From left to right: Michael Melnychuk Alex Ruffini Emmett Hartfield

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 06 | NEW CONDO GUIDE 17

CMHC REPORT

Housing starts stabilize in April

T

he trend measure of housing starts in Canada was 179,299 units in April compared to 179,114 in March, according to Canada Mortgage and Housing Corp. (CMHC).

“Elevated levels of multi-unit starts during mid-2014 caused the trend to peak in September. Starts activity since then has trended down to current stable levels as builders have adjusted activity to manage inventories,” says Bob Dugan, chief economist at CMHC’s Market Analysis Centre. “This trend is in line with CMHC’s expectations for housing starts in 2015.”

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.

18 NEW CONDO GUIDE | VOLUME 18 ISSUE 06 | NewHomeAndCondoGuide.ca

“Elevated levels of multi-unit starts during mid-2014 caused the trend to peak in September. Starts activity since then has trended down to current stable levels as builders have adjusted activity to manage inventories” The standalone monthly SAAR was 181,814 units in April, down from 189,546 units in March. The SAAR of urban starts decreased by 6.6 per cent in April to 165,445 units. Multi-unit urban starts decreased by 14.2 per cent to 107,216 units in April while the single-detached urban starts segment increased by 11.4 per cent to 58,229 units.

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

Rural starts were estimated at a seasonally adjusted annual rate of 16,369 units.

INNER CITY

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 06 | NEW CONDO GUIDE 19

CONDO SENSE

10 tips for condo hunters

By Jordan Beach

C

algary’s Beltline population grew by 1,091 residents from April 2013-14 to 21,357 (Source: The 2014 Civic Census). The inner-city densification is creating an attractive urban lifestyle and condo living is a fantastic, care-free option that caters to it.

Here are 10 tips to make your condo purchase a success:

#1 Work with a realtor. This professional will represent your best interests. However, whether or not you work with a realtor should not matter to the developer. A good and fair developer will always ensure that the purchase price remains the same, whether or not you have representation. #2 Seek solid track records. In 2008, many homebuyers had their deposits returned after a number of residential highrise projects were abandoned due to the global financial crisis. The experienced developers were the ones who honoured their contracts. Buy from a developer with a solid track record – in all market conditions. #3 Do your homework. When researching a condominium project, learn about the developer, their experience, and what others have to say. This information can be found in the form of testimonials or articles, and is usually available on developers’ websites, offering insight into a developer’s reputation in the marketplace and their achievements. #4 Ask questions. Properly trained sales staff should provide you with enough information to help you make an intelligent buying decision. You should never feel pressured or forced. The sales team should explain the pre-construction sales and possession processes, as they are quite different from buying a resale unit. #5 Get to know the warranty program. On Feb. 1, 2014 the Alberta government introduced plans for mandatory warranty protection for new-home buyers. The new legislation stipulates, “all new homes must include warranty coverage of one year for labour and materials,

20 NEW CONDO GUIDE | VOLUME 18 ISSUE 06 | NewHomeAndCondoGuide.ca

two years for delivery and distribution systems, five years for building envelope protection and 10 years for major structural components.” This will ensure that owners do not get big cash calls to fix deficiencies in new homes. #6 Know your price range. Meet with a mortgage lender to get a pre-approved mortgage before you start shopping. Know how much you have available for a down payment. If 20 per cent or more, you have greater flexibility with amortization. Discuss this thoroughly with your mortgage broker. Some developers will partner with lenders to offer guaranteed rates right up until completion. #7 Get it in writing. If the builder has promised you something, ensure it’s included in the contract. Your unit may not be ready for a few years and verbal agreements could be missed during the construction process. #8 Explore the neighbourhood. Be clear about which amenities are priorities. Take a walk, check out local shops and services, transportation options, and how it all suits your lifestyle. Condo living in Calgary’s urban centres has gained much attention in the last decade for the convenience and lifestyle that it offers, whether to live, work, play, socialize, shop and more. #9 Understand this: pre-construction sales don’t have a definitive possession date. The developer will have an estimated building completion date. It’s important that homebuyers not confuse the completion date with the possession date. Once the building is complete, the developer must then apply for an Occupancy Permit and file it with the Land Title Office, which can take an additional two to three weeks. #10 Understand the closing process. Being aware of and preparing for this process will help alleviate stress during this important time.

Jordan Beach is vice-president of sales and service for the Qualex-Landmark Group of Companies. qualex.ca

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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.

21

CALGARYISM

Calgary is growing “up”…

By Cody Battershill

C

algary has come a long way since the day that it was founded by Éphrem A. Brisebois and his team of North West Mounted Police (NWMP) officers back in 1875.

Who would have ever thought that this small NWMP base of operations would eventually turn into not only one of the largest cities in Canada, but also the strongest economically across the board?

Much has happened since that special year in history.

In 1883, the Canadian Pacific Railway had connected its railway to Calgary, supporting trade with the rest of the nation and helping it grow into an important agricultural and commercial hub of the west. A new market for tourism and hospitality was also created as a result which would eventually lead to the construction of the Fairmont Palliser Hotel. Originally at 12 stories, with another three added in 1929, this beautiful sandstone building was the tallest in Calgary from its construction in 1914 up until 1958.

In 1886, a massive fire swept over Calgary’s downtown area destroying more than a dozen wooden buildings. The aftermath of such destruction led city officials to draft a law that required all downtown buildings to be constructed using a fire retardant material, like sandstone – a commodity that was readily available to be mined from the Bow River’s embankments. Notice the Fairmont Palliser Hotel’s construction material?

In 1912, with funding from the “big four” businessmen, a small but innovative agricultural show called the Calgary Stampede would attract 100,000 visitors over its six days and host fierce competitions between cowboys from all over North America competing for a total of $20,000 in prizes. The city constructed a rodeo arena on land along the Bow River to facilitate the event.

And more recently…

In the 1980’s, despite the “oil glut” early on in the decade, a handful of office towers including the Western Canadian Place (1983), Suncor Energy Centre (1984), Canterra Tower (1988) and Bankers Hall East (1989) to name a few were completed on schedule.

In 1981, Calgary won the bid to host the 1988 Winter Olympics.

Construction on the world-class facilities needed to host the event including Canada Olympic Park, Olympic Oval and the Saddledome (already underway) commenced immediately and are buildings that would have a long-lasting presence on the city skyline.

In the 1990s to present times, several new skyscrapers were completed, are under construction or in the planning phase including TransCanada Tower (2001), Centennial Place (2010), Bow Tower (2012) and Brookfield Place (2018) to 22 NEW CONDO GUIDE | VOLUME 18 ISSUE 06 | NewHomeAndCondoGuide.ca

name a few. Similar to the construction boom of the 1980s, these towers are indicative of Calgary’s position as an economic strength of Canada, a city that has managed to keep its head above water even during economic downturn like that seen in 2008 and 2009.

All of these occurrences have brought about incredible change to Calgary’s skyline. In 10, 20, even 30 years, surely it will be drastically different as indicated by the above infographic of other various skyscrapers to come in the downtown area.

Calgary is growing “up” much faster than I had ever expected, along with my love for what this city was, is, and will be.

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

23

IN THE NEWS

Calgary at low risk of housing market correction

By Lydia McNutt

“MLS sales have declined in recent months...pushing the sales-to-new-listings ratio to buyers’ market levels, reflecting the impact of lower oil prices on housing demand in these oil-producing centres. This is expected to place downward pressure on house price growth, which could lessen the current risk of overvaluation in Calgary.”

C

algary is safe from a housing market correction, for now, according to a recent report by Canada Mortgage and Housing Corp. (CMHC) that identifies Canada’s riskiest housing markets. In spite of Alberta’s oil woes, and the sky-high prices in Vancouver and Toronto, Winnipeg and Regina were the charttoppers when it came to risk level.

CMHC identified housing markets as “overvalued” when real estate price gains have surpassed increases in personal disposable income.

Overvaluation is one of CMHC’s risk measures, along with overheating; acceleration in the growth of house prices; and overbuilding.

From a national perspective, CMHC observed modest overvaluation across the country, with real estate price gains slightly outpacing personal disposable income, population growth and other factors. But “overheating, acceleration in house prices and overbuilding are not a concern at this time,” the housing authority said. However, this isn’t the case from coast to coast.

Calgary is at an increased risk of overvaluation, but it fared well when it came to overheating, overbuilding and the rate of house price growth. The drop in real estate sales owing to economic uncertainty is expected to temper price growth, “which could lessen the current risk of overvaluation in Calgary,” CMHC reported.

While some of Canada’s housing markets have

24 NEW CONDO GUIDE | VOLUME 18 ISSUE 06 | NewHomeAndCondoGuide.ca

SURVEY SAYS...

According to a recent survey by the Appraisal Institute of Canada,

7% Seven per cent of Canadians plan to

buy a home or property in the next year.

69% Of those, 69 per cent are worried about inflated prices.

30% Thirty per cent of those who are not

planning to buy a property in the next year were influenced by the fear of overpaying.

mellowed, real estate prices in other markets continue to rise – out of reach, many fear. The usual suspects would be Vancouver and Toronto, where average detached homes has surpassed the $1 million mark. But in spite of the ever-increasing values in these cities, Vancouver ranked as a low-risk housing market, while Toronto measured at the moderate risk level.

At the other end of the spectrum, Winnipeg and Regina are in the hot seat, posing the greatest threat for a housing market correction, with strong price growth overshadowed by modest disposable income increases.

INNER CITY

25

CONTEMPLATING CONDOMINIUMS

Fido and Fluffy usually welcome in condos

By Linda Palfi

K

eeping a beloved pet was once almost impossible for those retiring from a single-family home to a rental apartment. In fact, anyone renting a home would look high and low and sometimes choose sub-standard accommodation just so their Fido or Fluffy would be permitted to live with them.

With condominium life, however, that has changed. Most condominiums allow small pets, albeit with strong controls. Those controls are imposed by the owners themselves through bylaws that have the force of law.

Most condominiums allow small pets, albeit with strong controls. Those controls are imposed by the owners themselves through bylaws that have the force of law.

Bylaws are created at annual general or special general meetings, and are administered by the condominium Board of Managers.

Like all laws, these can be changed. Check the bylaws of a new condominium development before you buy, and keep in mind that the new owners could prohibit pets.

That’s not common, but it is possible.

In a long-established condominium, the bylaws have probably served well for many years, so if pets are allowed, that’s not likely to change.

Pets are more easily accommodated, of course, in villa or townhouse condo developments than in highrise apartment condos. In the latter, bylaws sometimes limit pets to 10 kilograms each, and set a limit of one or two per condo home. Pooperscooper rules are almost universal, as is the rule of having pets handleashed in common areas.

Various other rules are possible, depending on the needs of a particular building and the degree of responsibility shown by pet-owning residents. Some buildings require pets to be carried through common areas, including lobby, halls and elevators.

Silly? Not when you hear of leashed pets being swept away on an elevator after their owner stepped out. That can be fatal for the pet.

26 NEW CONDO GUIDE | VOLUME 18 ISSUE 06 | NewHomeAndCondoGuide.ca

Total discretion over pets is often given by bylaws to the Board of Managers. In other words, power rests with most Boards to allow or not allow any specific pet, or to prohibit any particular condo unit owner (or their tenant!) from having a pet.

Exercised with discretion, that authority can allow a Board to ban troublesome pets, or prevent pet ownership by irresponsible residents, yet can allow most of us to enjoy the company of Fido or Fluffy in our condominium apartment, townhouse or villa home.

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

METIS TRAIL

NORTHEAST COMMUNITIES

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13 V&V

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IVE

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BLACKFOOT TRAIL

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07 ARRIVE AT SKYVIEW RANCH ARBOURS

BY PARTNERS DEVELOPMENT GROUP

IAL DR

R MEMO

02 43 PARK

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MacLEOD TRAIL

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DEERF

52 STREET

BARLOW TRAIL

GLENMORE TRAIL

ANDERSON ROAD

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OOT T RA

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NEW BRIGHTON

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McKE

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Mac

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05 HARANA TOWNHOMES

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.

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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

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TR A

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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

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MARQ

CHAPARRAL CRANSTON

AIL

NE TR

LOR IS OF

COPPERFIELD

ABURN BAY

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 06 | NEW CONDO GUIDE 27

85% SOLD! Calgary’s Best Multi-Family Community is Now in its Final Phase* VISIT OUR SALES CENTRE TODAY 1 Watermark Villas, Calgary (Just off 12 Mile Coulee Rd. NW) 403.474.5985

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This is not an offering for sale. Such an offering can only be made with a disclosure statement. E.&O.E. 28

*Proud winner of the 2014 CHBA - Calgary Region SAM Award for best Multi-Family Community

2014

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ME M O R I AL

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21 LIDO

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BARLOW TRAIL

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BY JAYMAN MODUS 44 Nolan Hill Blvd. NW GLENMORE RESERVOIR

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ELBOW DRI VE

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RE T

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16 AVENUE

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E

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TRA

IL N

14 STREET

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10 SAGE PLACE

BY CARDEL LIFESTYLES

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DIN GTO N

09 NOLAN PARK

BY CARDEL LIFESTYLES

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BED

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CENTRE STREET

01 .

BLVD

LS Y HIL UNTR

NA PI

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Register: jayman.com/carnaby

22

CO

08 CARNABY HEIGHTS

BY JAYMAN MODUS

STONEY TRAIL NW

HA RV BLVEST H D N ILLS E

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05

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

MacLEOD TRAIL

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

04

SYMONS VALLEY PKWY

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ROCKY RIDGE BLVD.

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07 THE TIMBERS

BY GABLECRAFT HOMES

SOUTHLAND DRIVE ANDERSON ROAD

DEERF

OOT T

W BO

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M AIL TR

AIL

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McKE

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SHAWNESSY BLVD.

EK P ARK

TTO BO

FISH

RAIL

IS OF

U MARQ

E LORN

TRAIL

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 06 | NEW CONDO GUIDE 29

MORTGAGE ADVICE

Does the lowest rate rule?

By Alyssa Richard

M

ortgage hunters will find incredible promotional rates, but many of these come with restrictions and penalties. Before you jump at the lowest rate, read the fine print in your mortgage agreement:

» Low prepayment privileges. Most products give mortgage holders the option to increase their mortgage payment amount once a year and/or make lump-sum payments throughout the year. While many lenders offer 20 per cent/20 per cent prepayment privileges, some promotional rates only offer 10 per cent/10 per cent. If your goal is to become mortgage debt-free fast, this may not be the right product for you. » Collateral charge. If the lowest rate ends up being for a collateral mortgage, consider how taking one on could affect your finances. These are are readvanceable mortgages that allow you to borrow money from your home at anytime, without having to refinance. Unfortunately, they also lock you into staying with that lender, even when your mortgage comes up for renewal. To get out of a collateral mortgage, you would need to hire a real estate lawyer.

» Closed mortgage. While most mortgages in Canada are closed, some restrictions are tougher than others. For example, a 1.99 per cent fixed-rate mortgage product one lender offered recently didn’t allow borrowers to prepay, negotiate or refinance their mortgage throughout the three-year term.

Don’t be scared to shop around and find the right mortgage for you – even if it doesn’t come with the absolute lowest rate.

Alyssa Richard is the founder and CEO, RateHub.ca

BUILDING FOUR JUST RELEASED! One & Two Bedroom Units Available 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:

For Possession Summer 2016 Pantone 376 C Pantone 3155 C

Ask About Our Flexible Down Payment Plan Condos in Sage Hill Monthly Payments Starting From

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*Price shown include GST. Monthly payment is based on a starting price of $205,000. 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 30 NEW CONDO GUIDE | VOLUME 18 ISSUE 06 | NewHomeAndCondoGuide.ca

F I L E

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31

CONDO PROFILE

JAYMAN MODUS LAUNCHES CARNABY HEIGHTS townhomes in Nolan Hill

By Heather Ryan

W

ith the aim of creating a savvy townhome design built around features their customers’ desire most, Jayman Modus has hit the target with its newest community in northwest Calgary’s Nolan Hill.

Jayman Modus presents Carnaby Heights, a thoughtfully designed, master-planned community that consists of 112 three-storey townhomes with single, tandem or double-attached garages.

“Carnaby offers amazingly designed townhomes with open concepts, garages, flex spaces, a multitude of amenities and many extra features to enhance our customers’ lifestyle,” says Helena Kipp, area sales manager.

“The homes offer affordability, spacious open floor plans with two- and three-bedroom layouts and 2.5 bathrooms, which will appeal first-time buyers, young couples and families, as well as empty nesters and right-sizers seeking maintenance-free living,” she adds.

The townhomes range from 1,195 to 1,725 sq. ft. so buyers can find a design that best suits their needs, and they offer a great price starting from the low $300,000s plus GST. All the townhomes present a bright, open concept that is great for entertaining and well-appointed interiors that come standard with nine-ft. ceilings and laminate flooring on the main floor, large kitchens with islands

34 NEW CONDO GUIDE | VOLUME 18 ISSUE 06 | NewHomeAndCondoGuide.ca

$

Modus_Sun_Booklet June issue.indd 1

STARTING FROM

2 3 0 ’S T O $1 . 7 M 5/19/2015 2:30:26 PM

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

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

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

■■■

........................................................... a solid and thoughtfully designed product based on 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 June issue.indd 2

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Mod

1 PM

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

Get social with us: facebook.com/jaymanmodus

Modus_Sun_Booklet June issue.indd 3

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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 $440’s (INC GST) Monthly Payment from $1978 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

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MOVE IN NOW 2 NEW SHOWHOMES OPEN 2 & 3 bedroom townhomes with single, tandem and double car garage AND NOW FOR SOMETHING DIFFERENT 2 bedrooms from high $330’s (INC GST) Monthly Payment from $1474 3 bedrooms from high $370’s (INC GST) Monthly Payment from $1643 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

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MOVE IN NOW

C O

N

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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 $1032 2 bedrooms from $300’s (INC GST) Monthly Payment from $1368 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

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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 from $340’s (INC GST) Monthly Payment from $1518 3 bedrooms from $360’s (INC GST) Monthly Payment from $1614 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

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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 June issue.indd 8

5/19/2015 2:31:07 PM

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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 June issue.indd 9

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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...

2 bedroom from $319’s (INC GST) Monthly Payment from $1525 3 bedroom from $340’s (INC GST) Monthly Payment from $1637 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

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PRECONSTRUCTION

PRICING

2 & 3 bedroom townhomes with garage WHILE THE VIEW WILL TAKE YOUR BREATH AWAY THE PRICE LETS YOU BREATH EASIER 2 & 3 bedroom starting from low $300’s (INC GST) FEATURING: • 3 storey 1267 sq ft – 1593 sq ft • Single and tandem heated garage • 9’ ceilings on main floor • Huge kitchen island • Stainless steel appliances • Designer lighting package • Upper level Whirlpool laundry centre with washer & dryer • Dual Pane Low-E windows • Under cabinet lighting, Caesarstone countertops, maple shaker cabinets, laminate or hardwood flooring, air conditioning options available • BBQ/Fire pit area • Community garden

501 River Heights Drive, Riversong Cochrane jayman.com/rise

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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 June issue.indd 12

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“The community signifies ‘old world charm’ with the use of stone and a colour palette of deep, rich colours” and eating bars, full-height tile backsplash and stainless steel appliances, and an upper-level laundry centre with Whirlpool washer and dryer.

“With more than six floor plans to choose from, your kitchen living space is only limited by your imagination,” Kipp says. “Our kitchens range from a central location, great for entertaining, or tucked away to allow for dual private conversation living areas.”

The homes also all come with a balcony – select designs have front and rear balconies – and the designs include a garage on the first level with a flex space and the option for a larger lower level development to include a fourth bedroom in certain models.

Upstairs, the master bedrooms have walk-in closets and ensuites, there are two secondary bedrooms, a full main bathroom and the laundry.

There is also an option for a double master bedroom layout, each with its own ensuite and walk-in closet.

You can also put your mark on your new townhome by choosing from three interior finishing decor colour themes with choices from sleek and contemporary, to warm and traditional. Plus buyers can add upgrades such as hardwood floors and Caesarstone countertops.

On the exterior, Carnaby takes on the developer’s architectural guidelines in Nolan Hill that “emphasize the natural features and

unique settings that are complementary to the surrounding landscape,” Kipp notes. “The community signifies ‘old world charm’ with the use of stone and a colour palette of deep, rich colours.”

As well, residents will appreciate that Carnaby comes complete with a magnificent 15,000-sq.-ft. central courtyard with walking paths, benches and loads of greenspace, and they can enjoy a myriad of thoughtfully designed and lifestyle enhancing features such as an area to walk your dog, a playground and a community flower garden.

“With all the greenspace, it’s like having a private oasis within the community,” Kipp says, adding that residents can enjoy the surrounding greenspace, pathways and ravines in Nolan Hill.

Carnaby also offers a stellar location with easy access to Sarcee Trail, Stoney Trail and 144th Avenue N.W. and just down the hill, a commercial site is opening soon which will feature restaurants, Sobeys, Petro Canada, dental services and so much more. Plus don’t forget nearby Beacon Hill with Costco and Canadian Tire, or enjoy the Symons Valley Ranch Farmers Market.

For more information on Carnaby Heights in Nolan Hill, visit the sales centre at 460 Nolan Hill Blvd. N.W., open Monday to Thursday, 2 to 8 p.m.; and weekends, noon to 5 p.m. Call 403.475-.7928 or visit jayman.com/carnaby.

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 06 | NEW CONDO GUIDE 35

SOUTHEAST

36

IE

BLV

D.

MCKNIGHT BLVD.

68 STREET

IL

CENTRE STREE

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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 23 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

52 Legacy Gate SE

12

W ST. 52

AIL

VITT

D TR

McKE

UIS MARQ

116 Quarry Park Way SE

02 11

16

LEO

Mac

S JAME

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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

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 232 Quarry Park Blvd. SE

18 THE GATES

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

19 CHAMPAGNE

BY REMINGTON DEVELOPMENTCORPORATION Quarry Park Blvd SE remingtoncorp.com

20 CRANSTON PLACE

BY CARDEL LIFESTYLES 302 Cranston Road SE

21 ALTURE MIDCITY

BY ALTURE PROPERTIES 15233 1 Street Southeast midcitymidnapore.ca

22 MAHOGANY STREET TOWNS

BY HOMES BY AVI 13 Marine Dr SE

23 LEGACY PARK

BY BRAD REMINGTON HOMES Register at: mylegacypark.ca

$100’s

CONDOS FROM THE MID

www.copperfieldpark.com 403.723.0094 NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 06 | NEW CONDO GUIDE 37

FUNDAMENTALLY SPEAKING

WHO AND WHAT TO BELIEVE?

By Wayne Karl

F

or homeowners, when someone says your home is drastically overvalued, naturally, you worry. If you’re a prospective homebuyer, such news might cause you to delay your purchase. That’s the power of housing valuations.

The problem is, who and what to believe?

Here are some recent examples of Canada’s housing valuations, from a variety of sources: Deutsche Bank: overvalued by 60 per cent Bank of Canada: overvalued by 30 per cent International Monetary Fund: overvalued by 11 per cent TD Bank: overvalued by 11 per cent Canadian housing economist Will Dunning: undervalued by nine per cent With such a wide variance in valuations, and using differing measures, who to believe, indeed?

“Far too many foreign economists try to make overly simplified statements about foreign housing markets they don’t understand enough about,” Calum Ross, mortgage broker and real estate investor.

“Above and beyond the traditional measures, there are a number of less tangible measures, such as the stability of social, political and economic systems at the federal, provincial and municipal level.

“Canada represents one of single largest countries in the world and going from coast to coast, Canada is home to a very diverse group of people with local economics that are vastly different,” Ross says. “Saying there is a Canadian housing market is no less ridiculous than saying there is ‘Canadian temperature.’”

Thankfully, Canada Mortgage and Housing Corp. (CMHC) added some context recently in its House Price Analysis and Assessment (editor’s note: for more information, flip to page 56), which provided a market-by-market snapshot by Canada’s larger centres. The report attached a risk level – low, moderate or high – for the major cities, using risk factors of overheating, acceleration in house prices, overvaluation and overbuilding.

With Regina and Winnipeg, of all places, being the only major centres earning “high risk” assessments, CMHC’s report reminds everyone that housing markets must be assessed on a micro level, not wide-swathing national viewpoints. Canada’s most expensive market, Vancouver, earned a “low risk,” while Toronto, the other market often mentioned in conversations about overvaluation, was ranked as “moderate risk.”

“From a pure economic theory standpoint, when interest rates are low, then real asset prices will go up,” says Ross. “Real estate is one of the most

38 NEW CONDO GUIDE | VOLUME 18 ISSUE 06 | NewHomeAndCondoGuide.ca

interest-rate-sensitive sectors of the global economy. When it comes to mortgages, what we know is that people have a tendency to buy payments and be less concerned with total debt. The lower interest rates and longer amortizations allow for lower payment and as long as payments stay affordable – many people won’t get caught up with the sticker shock of more expensive real estate prices.”

So, who to believe, next time you see a report on Canada’s housing valuations? Well, a Canadian source such as CMHC is a good start. Otherwise, as experts stress, remember to look at your individual market for a clearer indication, not the national assessment.

Wayne Karl is an award-winning writer and editor with experience in real estate and business.

In Fundamentally Speaking, Wayne explores the basics of buying property. Email wayne.karl@ypnexthome.ca or follow him on Twitter at Twitter.com/WayneKarl

SOUTHEAST

39

CONDO PROFILE

HOPEWELL LAUNCHES SANDGATE in award-winning Mahogany

By Heather Ryan

F

resh off winning its third consecutive Community of the Year award for Mahogany, Hopewell Residential continues to make exciting things happen in this southeast Calgary community with the launch of a fabulous new condo project offering smart designs and amenities that are appealing to a broad range of buyers.

Hopewell Residential, which has developed Mahogany – a fourseason playground where buyers can experience the ultimate lake lifestyle centred around Mahogany Lake – is crafting Sandgate in Mahogany that will span 4.72 acres and include 306 homes over four, four-storey buildings.

“We’re really excited to launch Sandgate in this award-winning community,” says Brenda Kelly, sales and marketing manager, Multi-Family.

“Reservations began in the first building on May 2 and we’re getting a great response; the first building consists of 66 suites we reserved 25 suites in the first week.

40 NEW CONDO GUIDE | VOLUME 18 ISSUE 06 | NewHomeAndCondoGuide.ca

“We’re seeing a combination of the first-time buyers, as well as the empty nesters, and some in between wanting to get into Sandgate because they love the location, specifications and the affordable price,” she says, noting that prices start in the low $200,000s and range up to $360,000s, “so there is something for everyone.

“Mahogany appeals to a wide range of buyers who want that lake lifestyle; it has a vacation property feel that they get to live in everyday, and all of our homeowners have lake access,” Kelly adds. In fact, Sandgate is just a few minutes’ walk to the West Beach.

Sandgate’s first building offers several different floor plans including one-bedroom/one-bath, one-bedroom-plus-den/ one-bath, two-bedroom/one-bath and two-bedroom/two-bath designs ranging from 601 to 1087 sq. ft.

“Most of our plans are a very efficient, open concept with little or no wasted space,” Kelly says. “As well, many of our fourthfloor homes will have vaulted ceilings in the main living areas.”

Well-appointed interior features include nine-ft. ceilings, laminate flooring in the main living areas, tile in bathrooms and laundry, carpet in bedrooms with an eight-lb. underlay, and a window blind package. Purchasers have their choice of stainless steel or black appliance package, raised-panel or flat-panel interior doors, three colour palettes, and their choice of cabinetry from the Sandgate selection of six different profiles and six different finishes.

Hopewell standards also include full-height backsplashes, USB charging outlets, gas lines to the decks and in-suite laundry with washer and dryer. As well, there is both underground parking and surface parking available.

“On the exterior Sandgate features a timeless Voysey Arts & Crafts architecture that is carried through to The Great Lawn, which is a large greenspace crafted in a modern take on an old English garden with seating in the middle, and we are going to commission a piece of art for the centre of the garden,” Kelly says.

Other on-site amenities include a fitness centre, lending libraries, an owner’s barbecue patio and two guest suites. As well, the first building will have 6,500 sq. ft. of retail space.

Besides having access to Mahogany Lake – Calgary’s largest freshwater lake – residents can enjoy the Mahogany Beach Club, the wetlands, parks and pathways in

Mahogany, as well as the future Central Park and the Urban Village. Mahogany also has easy access to Stoney and Deerfoot Trails, is close to major amenities such as the South Calgary Health Campus and shops, services and more in Seton, and is adjacent to a future LRT station.

For more information on Sandgate in Mahogany, visit the presentation centre, open Monday to Thursday, 2 to 8 p.m.; and weekends and holidays, noon to 5 p.m. at 6 Mahogany Terrace S.E. or call 403.475.9464.

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 06 | NEW CONDO GUIDE 41

HOMEBUYERS’ HELP

Boost the future resale value of your new condo

Y

ou’ve decided to purchase a condo and have begun your search. Now some well-timed tips will help you on your condo-buying journey.

“Condos are a great option for people who don’t want the hassle of maintaining a house,” says Alan Stewart, broker-manager with Royal LePage Sussex in North Vancouver. “Condos are also ideal for downsizers and for first-timers looking to break into the real estate market. Armed with the right information, you can make choices to ensure that the condo you purchase today is marketable to buyers tomorrow.”

For example, to preserve the resale value in your condo, Stewart suggests researching locations thoroughly, and consider how the ambiance of the neighbourhood might be different between daytime, evening and weekend hours. He also offers these guidelines: » Opt for the highest square footage you can afford. Smaller units are more difficult to resell. » A stately view will help make your day-to-day living more enjoyable and serve to impress future buyers.

» Even if you don’t use a parking space, you can rent it out and future buyers will appreciate the availability of parking. » A locker is recommended since condo storage comes at a premium. » Find out if occupants of the building are primarily owners. A higher ratio of renters could make resale more difficult.

As selection within the condo market is ample, this presents plenty of opportunity to ensure the choices you make add up to a good investment.

More information is available at royallepage.ca. NC

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.

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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 42 NEW CONDO GUIDE | VOLUME 18 ISSUE 06 | NewHomeAndCondoGuide.ca

DATE:

F I L E

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43

Q&A

Ikea recently partnered with Jillian Harris to showcase its new Sektion kitchen system – which provides endless possibilities for personalization to suit any space. We adore Jillian’s pretty and feminine-inspired cooking space, and we got a chance to ask her all about it!

IN THE KITCHEN WITH INTERIOR DESIGNER

Jillian Harris New Condo Guide: What is your favourite detail about this Ikea kitchen?

Jillian Harris: The drawers-insidedrawers that provide maximum storage! I love how they are removable and adjustable. This makes it easy to store your dishes in drawers so that no reaching or looking is necessary.

to me too, as they make everything quick, easy and organized. Another secret of mine is keeping like items stored together. For example, I have a drawer that opens things and cuts food like knives, scissors, and bottle openers and a drawer that “stirs” with items like spatulas, spoons and whisks.

NCG: How can homeowners keep organized in the kitchen?

JH: I put a reminder in my calendar once every six months to look at everything in my cupboards and drawers to see what I’m using – and how often – and organize accordingly. I find ways to section my cupboards and drawers by using Tupperware containers or other storage containers.

Lots of labels are really important

NCG: What’s the best meal you’ve ever eaten?

JH: I have eaten a ton of great meals, but I’d have to say Spaghetti Bolognese will always have a place in my heart as my favourite meal to eat!

NCG: How can homeowners add style to their cooking space without breaking the bank?

JH: Adding a touch of fresh herbs and plants you can cook with is a great way to get creative. Also, changing countertop pieces to inexpensive on-trend items such as unique cutting boards, vases and vintage trays.

NCG: If you could invite anyone famous (living or past) for dinner who would it be? What would be on the menu?

JH: It would probably be my great grandpa because I’ve heard from everyone in my family that he was such a great guy. I would make him some pork chops, sauerkraut and home-made pierogies. If I had to choose someone famous it would be Oprah, Taylor Swift and Martha Stewart.

For more information visit ikea.ca

44 NEW CONDO GUIDE | VOLUME 18 ISSUE 06 | NewHomeAndCondoGuide.ca

MAP NOT TO SCALE

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 06 | NEW CONDO GUIDE 45

THE HOMEBUYING PROCESS

Home builders shine at annual CHBA - Calgary SAM Awards

By Donna Moore

T

he Canadian Home Builders’ Association - Calgary Region honoured the very best in the Calgary area new home-building industry at the 28th annual SAM Awards held April 18 at the Telus Convention Centre.

This year, more than 1,600 people attended the SAM Awards that drew a record 834 entries with finalists competing for 58 awards in 10 categories.

After more than a quarter century, the CHBA - Calgary Region’s SAM Awards continues to draw interest; even in a year that had a record number of starts, builders still put innovation and creativity at the forefront.

The quality of submissions was outstanding and the competition was tight, as the home-building industry showed its commitment to developing unique designs and innovative building practices.

Calgary’s SAM Awards program is the largest of its kind in Canada and the number of entries and new companies entering from year to year is a true testament to the passion that drives achievement in the local industry. SAM stands for Sales and Marketing, and all aspects of the industry are recognized in the awards program.

CHBA - Calgary Region presented the SAM Awards in various categories: New Home Awards, Renovator Awards, Developer Awards, Multi-Family Awards, Partner Awards, Advertising & Marketing Awards, Industry Achievement Awards, Sales & Information Centre Awards and, of course, the most prestigious of them all – the Grand SAM Awards. Winning a coveted SAM is an award that companies strive to achieve and there were many previous and first time winners this year.

Grand SAM Awards are presented to those who have demonstrated a superior achievement in design, sales, advertising and/or service. The Grand SAMs award recipients this year were: Calbridge 2010, Multi-family Builder of the Year; Morrison Homes, Builder of the Year; Riverview Custom Homes, Builder of Merit; Ultimate Renovations, Renovator of the Year; and Lux Windows and Glass, Partner of the Year.

Builders (single- and multi-family), developers and industry members competed for awards such as Best New Home in various price categories, Best New Design for multi-family projects in various segments, Sales Achievement Awards, Best Sales & Information Centre (attached and detached), Community of the Year in Calgary and in the surrounding area, various Partner awards, and a whole category of renovation awards, including Best Home Renovation (both with and without an addition) and the Renovator’s Choice Renovation.

The judging process is detailed, with points awarded for each entry judged by peers within the industry. Awards are given based on point totals. 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 SAM Awards competition is not a popularity contest in any way.

The criteria for judging are extensive and the process is monitored and 46 NEW CONDO GUIDE | VOLUME 18 ISSUE 06 | NewHomeAndCondoGuide.ca

authenticated by a local accounting firm. So, considering the judging process each entry goes through, to be named a finalist in any category is an achievement in itself.

Without a doubt the SAM Awards have contributed significantly in raising the bar year after year in residential housing, as so many home builders, developers and other industry experts work diligently to improve each year. As a result, Calgary and its surrounding communities have some of the most innovative product found anywhere in Canada.

Congratulations to not only the winners and the finalists, but to all the companies that submitted an entry for the 2014 SAM Awards and strive to make the industry better.

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

Call 403.235.1911 or visit crhba.com

CONDO PROFILE

BRAD REMINGTON CONTINUES TO ‘LOVE IT, LIVE IT, AFFORD IT’ with Legacy Park

By Heather Ryan

F

ollowing up on the amazing success story of its Copperfield Park trilogy, Brad Remington Homes is poised to launch the next chapter of its “Love It, Live It, Afford It” legacy with its new condo development of Legacy Park.

“We’re extremely excited to announce Legacy Park, where we plan to follow in the success of our Copperfield Park communities, by providing homeowners with high-quality stylish condos at super affordable prices,” says Bryan Logel, vice-president of sales and marketing of Brad Remington Homes.

Legacy Park will be created in two parts with the first phase consisting of four, four-storey buildings.

“We are opening an information centre on site in May, where we will be providing potential customers with the ability to register for special offers and updates in preparation for a sales launch this fall,” Logel notes. “Those who register will receive insider updates on the development and have access to the MyLegacyPark website and Facebook page.”

48 NEW CONDO GUIDE | VOLUME 18 ISSUE 06 | NewHomeAndCondoGuide.ca

Brad Remington Homes is committed to creating high-quality affordable homes and Legacy Park will offer one-, two- and threebedroom designs, starting from an exceptional price in the low $100,000s.

“We’re always looking for ways to improve our purchasers’ home living experience through design with the goal of creating lifestyle-friendly homes. We will accomplish that in Legacy Park by keeping some of our best-selling models from Copperfield Park, and introducing some exciting new floor plans,” Logel says.

Brad Remington Homes also offers the ability to customize its homes with a full range of options, meaning buyers will love it and live it “When we look at all the potential purchasers in Legacy Park, there will be something there for everyone,” Logel adds. “We offer a titled parking stall and personal storage with each suite, as well as a superb specifications level and high-quality construction.”

The well-appointed interiors will include full-sized kitchens with granite countertops and an appliance package that includes a fridge, stove, dishwasher and over-the-range microwave, premium cabinetry with softclose doors and drawers, in-suite laundry with washer and dryer, knockdown ceilings, and private balconies or patios. Brad Remington Homes also offers the ability to customize its homes with a full range of options, meaning buyers will love it and live it.

Legacy Park will feature an eyecatching exterior and strong curb appeal with premium plank siding, brick and intricate detailing. “The development will fit nicely into the community of Legacy,” Logel says.

Legacy, a master-planned community situated in south-central Calgary (just north of Heritage Point), “is naturally beautiful with amazing ravines and architecture. Legacy Park is located right across from park space that overlooks a pond and is literally a stone’s throw away from the ravine and pathway system that weaves through the community.”

Located just minutes away from Stoney and Macleod Trail with access off 210 Avenue S.E., Legacy Park offers access to major traffic corridors and it’s close to the LRT and a wide variety of shops, services and dining amenities up Macleod Trail and in nearby Shawnessey.

“The location is nothing short of incredible, south-central Calgary is the area of the future based on the long-term plan of the surrounding communities,” Logel adds. “The proximity of the South Health Campus Hospital, Quarry Park and a future Silverado LRT Station makes Legacy an ideal choice.”

For more information on Legacy Park, visit the sales centre at the corner of Legacy Boulevard and Legacy Main Street, open Monday to Thursday, 2 to 8 p.m.; and weekends and holidays, noon to 5 p.m. To register visit mylegacypark.com., www.facebook.com/mylegacypark.

Interested buyers can also check out the quality and style offered by Brad Remington Homes by visiting the Copperfield Park III showsuites at 755 Copperpond Blvd. S.E. (open the same hours).

NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 06 | NEW CONDO GUIDE 49

CHBA - Calgary Region

- 2014 -

*Limited time offer. Only on new home purchases at Hunter House.

Subject to change without notice.

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 50

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

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771 Patrick St. S.W.

36 STREET

17 Ave

14

02

07

08

05 15 11

09

05 OVERTURE

BY JAYMAN MODUS

Sales Centre Now Open in Currie Barracks

06 LEGACY PARK

BY BRAD REMINGTON

Register at: mylegacypark.ca

07 GLAS

BY AVALON

2712 17th St. SW

08 ALEX

BY ASSURED COMMUNITIES

GLENMORE RESERVOIR

BARLOW TRAIL

NM

#2105, 99 Spruce Place S.W.

03

13

03 OVATION

BY INTERGULF CIDEX

04 THE LANDINGS IV E

BY STATESMAN DR

ME M O R I AL

37 STREET

GLE

69 STREET

85 STREET

10

16 AVENUE

MacLEOD TRAIL

SARCEE TRAIL

4

BLACKFOOT TRAIL

OLD BANFF COACH ROAD

32 Ave

EDMONTON TRAIL

E

14 STREET

ENU

ELBOW DRI VE

16 A V

CENTRE STREET

SOUTHWEST COMMUNITIES

SOUTHLAND DRIVE ANDERSON ROAD

DEERF

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98 Mission Road SW mission34.ca

10 VIVACE

BY STREETSIDE DEVELOPMENTS

11 JUNO

BY AVI URBAN

AIL

194 AVE

AIL D TR LEO SHERIFF KING ST. SW

VITT

McKE 01

Mac

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SHAWNESSY BLVD.

09 MISSION 34

BY ASSURED COMMUNITIES

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

M

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TTO BO

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W BO

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Presentation Centre: 2719 14th St. SW

NE F LOR UIS O

MARQ

TRAIL

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

13 ALTADORE 36

BY BROOKFIELD RESIDENTIAL

06

01 HUNTER HOUSE

BY STREETSIDE DEVELOPMENT

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

02 BROOKLYN CONDOMINIUMS

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1710-28 Ave. SW www.brooklyncondos.ca

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

14 MAX TOWNHOMES

BY ASSURED DEVELOPMENTS 1605 25 Ave SW

15 THE ARMORY

BY COVE PROPERTIES Currie Barracks

COMING SOON! Register today! www.mylegacypark.com 403.931.8558 NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 06 | NEW CONDO GUIDE 51

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MAKE YOUR MOVE

Prepare for the mass exodus

By Chuck Resnick

›› Refer to a checklist to make sure you remember all the things you have to do. Changing addresses, notifying utility companies, enrolling kids in their new schools, arranging for pets and small children to be cared for during the move.

Checklists are easily available online. You can find ours at twomenandatruck.ca/your-movingchecklist-plan-your-move.

I

f you are planning to move at the end of June and haven’t booked a mover yet, you could be out of luck. Traditionally, June 30 is the most popular day of the year for Canadians to move.

The most recent Census (2011) reports that 4.3 million Canadians move annually, which amounts to 1.6 million families – 13 per cent of whom choose the month of June. About a third of those pick June 30 as their moving date, which amounts to a lot of people doing the box-truck shuffle in that 24-hour time frame.

Why the big exodus on this one specific day? In my experience, weather tops the list of reasons. It’s more pleasant to move after the cold and snow of winter are behind us, and before the major heat of summer kicks in. Of course, no one can predict what Mother Nature will hand us on any given day, but usually there is less chance of rain at the end of June as well.

Keep in mind that moving just before the long weekend in July means families have an extra day to begin unpacking and get settled before they have to go back to work. By waiting until late June, parents avoid disrupting their children’s school year.

Financially speaking, the end of June marks the mid-year renewal deadline for property taxes and rental leases, so for many people, the timing is optimal.

If June 30 is your moving day, here are some tips to make moving a less stressful and more pleasant experience:

›› Pare down possessions as much as possible. There’s no use moving stuff that you will just throw out or give away after.

When it comes to moving, the extra effort up front goes a long way, and when you choose to move on June 30, it takes you even farther toward a safe, successful and fulfilling experience.

›› Book your mover now! You may find that many companies are already fully booked for that day, but the earlier you start calling, the more chances you’ll find a reliable company to help. ›› Consider using a mover to pack you. Time is running short, and movers have packing down to a science. Remember, it’s as important to us as it is to you to get your possessions to your new home safely and in pristine condition.

54 NEW CONDO GUIDE | VOLUME 18 ISSUE 06 | NewHomeAndCondoGuide.ca

Chuck Resnick is vice-president of marketing and operations, Two Men and a Truck Canada. twomenandatruck.ca

Extraordinary Urban Value

Priced from the $780s

55

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56

ZEN Okotoks CG 20150515.indd 1

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:30:26

CALGARY’S SATELLITE COMMUNITIES 22

AIRDRIE 04

1A

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

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

TURNER VALLEY

543

604 East Lake Blvd N.E. Airdrie, Alberta

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

HIGH RIVER

COCHRANE 01 TOWNHOMES AT JUMPING POUND RIDGE

BY SLOKKER CANADA WEST

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

11 THE EDGE

BY STREETSIDE DEVELOPMENTS

OKOTOKS

546

10 STONEKEEP AT KING’S HEIGHTS TOWNHOMES

BY MERGE DEVELOPMENTS

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 06 | NEW CONDO GUIDE 57

FINANCES

5 things first-time homebuyers need to know

M

ore than ever, first-time homebuyers are weighing their options before embarking on the Canadian dream of owning a home.

“We want consumers to be comfortable with the financial responsibilities of owning a home, so it’s important to determine what they can afford in order to maintain a reasonable lifestyle once they’ve made the leap,” says Phil Soper, president of Royal LePage Canada. Soper offers these tips for first-time homebuyers: 1. Determine your net worth. Total your assets (cash, investments and savings) and subtract your liabilities (loans, lines of credit and credit cards). A positive number is a good sign you may be ready to purchase your first home.

2. Obtain mortgage pre-approval. There are many different mortgage options available on the market today. Thoroughly investigate the terms and rates available, and once you have settled on a rate, term and amortization period, apply for mortgage pre-approval with your lender.

3. Consider hiring a real estate agent. Top agents have extensive experience and demonstrate dedication and commitment to helping their clients – whether buying a resale home or a brand new one. Ask your family

and friends referrals, and explore online to read profiles and reviews of agents. A real estate agent will have knowledge of accurate, realtime market data to leverage your negotiating position.

4. Be realistic. Choose a home that is within your means Keep in mind that you will need to set aside extra funds for ongoing home maintenance and potential increases in utilities, taxes, condo fees and mortgage rates.

5. Consider taking on a tenant.

Renting out a spare room can put extra money in your pocket, helping you to pay down your mortgage faster.

SIZE matters.

With almost 1700 sq ft, Brookside townhomes are shockingly big. You get massive floorplans, private fenced yards, double garages and more room to grow - a lot more room. For details, head west on Yankee Valley Blvd to 24th Street in Airdrie or visit brooksideatbaysprings.com

Showhome Grand Opening on now!

Townhomes starting from the mid $300s.

Own a townhome with an attached garage from the $230s.

For details visit stonekeep.ca 58 NEW CONDO GUIDE | VOLUME 18 ISSUE 06 | NewHomeAndCondoGuide.ca

ZenR

59

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OUTDOOR LIVING

2015

OUTDOOR trends

By Carson Arthur

W

hether you have a large backyard or a balcony built for two, outdoor living and renovating has become a trend in itself. With new stats coming out every day about the impact of outdoor renovations on home value, landscaping is quickly rising to the top of the to-do list. So, whether you are planning on renovating or just sitting outside and enjoying the sun, here are my top outdoor trends for 2015.

$219.

weber.com

1 Colourful barbecues. Building on its success of the condo-sized Q-1200 propane barbecue, Weber has launched a new line of the popular model with bright and colourful lids! Now you can have a grill that also adds a splash of colour to your balcony. These small-scale units use liquid propane cylinders versus the big tanks, making them portable and space saving. They’re functional and stylish at the same time!

$109.

Canadiantire.ca/ Canvas

2 Outdoor rugs… that look like grass! Canadian Tire’s new private label, Canvas, is coming into the market place with a rug that surprised me with its unique innovation.

Combining the look of turf with a classic baroque design, these carpets are not to be confused with the indoor models. Finally, we have a carpet that complements outdoor living.

3 Heirloom vegetables. The “grow-it-yourself” movement has firmly taken root in Canada! GIY has been my mantra for several years, and now homeowners are jumping on board with planters and gardens full of vintage veggies and herbs. This trend of growing food that you know is safe for your family has really resonated with the younger generation, with millennials starting seed saving companies and protesting anything GMO. EdibleAntiques.ca

60

Bright colour is big for the backyard in 2015.

Check out New Condo Guide’s top picks.

Garden Treasures 10-ft.

Square Offset Umbrella with LED Lights. $399. lowes.ca

Hampton Bay Painted Triangles Lumbar Pillow. $16. homedepot.ca

Solvinden Led Solar-Powered Floor Lamp. $15-$17 each. ikea.ca Round Outdoor Chairs. $40 each. walmart.ca

Bird Bath. $39. rona.ca

Carson Arthur is an international landscape designer with a focus on environmentally friendly design. He is HGTV’s Critical Listing landscape guru and appears regularly on TV, writes for various publications about outdoor design and is the author of the acclaimed book Garden Designs for Outdoor Living. Visit carsonarthur.com

61

INDEX OF ADVERTISERS

READ MORE ABOUT OUR ADVERTISERS! Albert Park Station

Carlisle Group

Alture MidCity

Alture Properties

32-33 43

Arrive at Evanston

Partners Developments

31

Arrive at Redstone

Partners Developments

31

Avenue

Grosvenor

17

The Block

Avi Urban

66-67

Bridgeland Crossing

Apex City Homes

4

Bridgeland Hill

GableCraft Homes

4

Brookside

Merge Developments

58

Carnaby Heights

Jayman Modus

Chalet No. 6

Sabal Homes

34-35

Champagne

Remington Development Corp.

Copperfield Park III

Brad Remington Homes

Emerald Sky

Carlisle Group

The Gates

Remington Development Corp.

The Guardian

Hon Towers Ltd.

14

Harvest Mosaic

Brookfield Residential

45

Heartland Townhomes

Excel Homes

57

Hunter House

Streetside Developments

50

INK

Battistella

6 2 68 32-33 36

5

Jumping Pound Ridge

Slokker West

7

Legacy Gate

Carlisle Group

32-33 48-49

Legacy Park

Brad Remington Homes

LIDO

Battistella

18

Livingstone

Trico

42

Max

Assured Developments

55

Mosaic Riverstone

Brookfield Residential

45

Muskoka

Brookfield Residential

45

Park Point

Qualex Landmark

The Post

Avi Urban

Sage Park

Cardel Lifestyles

SandGate

Sabal Homes

39-41

Scollen House

320 Mission

23

Smith

Grosvenor

19

StreetTowns

Homes by Avi

47

V&V

Providence Developments

25

Viridian

Trico Homes

30

Vivace

Streetside Developments

Waterfront

Anthem Properties

21 66-67 3

59 1, 11-13

Watermark

Watermark

28

Sawyer

Avi Urban

66-67

Zen Okotoks

Avalon Master Builder

56

Zen Ravenswood

Avalon Master Builder

59

Jayman Group of Companies

PULLOUT INSERT

Avira, Ebony, Overture, Trinity, Carnaby Heights 62 NEW CONDO GUIDE | VOLUME 18 ISSUE 06 | 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 06 | 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 06 | 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 Bank of Montreal - BMO Bank of Nova Scotia CIBC Mortgages Caisses Desjardins Canadian Western Bank Canadian Western Trust Comtech Credit Union DUCA Financial Services Effort Trust Equitable Bank First Calgary Financial First National Financial FirstOntario Credit Un. HSBC Bank Canada Home Trust Company ICICI Bank Canada Investors Group Trust Laurentian Bank Canada League Svgs & Mortgage Libro Credit Union London Life Manulife Bank Manulife Trust Meridian Credit Union National Bank Peace Hills Trust President’s Choice Fin’l Royal Bank of Canada Servus Credit Union Steinbach Credit Union T-D Mortgage Tangerine

2.350 2.850 2.850 2.850 2.850 3.050 3.050 2.650 2.200 2.850 2.850 2.500 3.050 2.850 2.850 2.850 2.550 2.650 2.850 2.850 2.850 2.850 3.000

6 MONTHS

4.000 4.000 4.550 4.450 4.400 4.000 4.000 6.200 4.450 4.000 3.100 4.240 4.450 3.950 4.200 4.400 4.000 3.750 4.200 4.450 4.450 4.000 4.400 4.500 6.190 3.140 4.000 3.140 -

1 YEAR

2 YEARS

2.940 2.890 3.290 2.890 2.890 3.140 3.140 2.890 3.090 3.350 3.140 2.890 2.290 2.990 3.140 2.890 3.150 3.140 2.890 2.990 2.850 3.140 3.000 3.000 3.090 2.890 3.150 3.190 3.140 2.890 2.500 2.890 3.190

2.640 2.840 3.090 2.840 2.990 3.040 3.040 2.890 3.000 3.500 3.040 2.890 2.190 3.040 3.140 2.440 3.650 3.090 2.840 2.250 2.850 3.090 2.940 2.940 3.090 2.840 3.500 2.840 3.040 2.840 2.600 2.840 3.240

3 YEARS

2.540 3.390 3.390 3.550 3.390 3.650 3.650 2.950 2.990 3.700 3.650 2.490 2.340 3.190 3.540 2.540 3.640 3.750 3.390 2.990 2.890 3.750 2.840 2.840 3.550 3.390 3.750 3.490 3.650 3.390 2.700 3.390 3.490

4 YEARS

2.690 3.890 3.890 4.140 3.890 4.200 4.200 2.990 3.090 4.300 4.390 3.090 2.540 2.990 4.240 2.640 3.690 4.390 3.890 2.990 2.890 4.390 2.790 2.790 3.290 3.890 3.850 4.040 4.390 3.890 2.800 3.890 3.690

5 YEARS

2.740 4.740 4.490 4.790 4.740 4.790 4.790 2.790 2.690 4.350 4.640 2.650 2.690 2.790 4.740 2.640 3.690 4.790 4.740 2.790 2.890 4.790 2.790 2.790 2.690 4.740 3.950 4.440 4.640 4.640 2.750 4.640 3.790

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 06 | NEW CONDO GUIDE 65

check out the views at

amazing Plans amazing Prices

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