Calgary New Condo Guide - Jul 25, 2014

July 25 - Aug 22, 2014 Volume 17 Issue 08 Calgary Edition

Jan 6 - Feb 3, 2012 Volume 20

Issue 01

INSIDEMAKING HOW TO IDENTIFY ALBERTA’S BOOMING RESIDENTIAL HOUSING SENSE OF GOODA BEGINNER’S GUIDE TO WELCOME THE NE WSTARTS YEAR INSIDE THIS ISSUE (AND BAD) HOME BUILDERS CONSTRUCTION INDUSTRY CLIMB IN 2014 THIS ISSUE MORTGAGE TERMS ARRANGING A MORTGAGE WITH A NE W ATTITUDE

FINAL PHASE NOW RELEASED

CHBA - Calgary Region

2013

Building One is sold out, and only a few units remain in Building Two. With Buildings Three and Four selling fast, we’re excited to announce the release of Building 5. Make your move today and make your dream a reality at Champagne – Calgary’s only pre-cast concrete residences with exceptional designer finishings and premium riverside locations.

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

remingtoncor p.com • 403.930.6900

Make your move with Cardel Lifestyles CALGArY’S bEST CoNdo + ToWNHoME VALuE

Rendering is artist’s concept only. Subject to change without notice.

2 bdrM CoNdoS

239,900

$ FroM

175 Panatella Hill NW | 403.241.8975 Pre-selling from Panorama West

BuilDiNg 2 NOW SelliNg

BuilDiNg 2 NOW SelliNg

+ GST

- 1+2 bedrooms available up to 1,038 sq ft - 7 condo floorplans - New 897 sq ft plan

4 SHoW SuiTES NoW oPEN

WalK TO eVerYTHiNg

BaCKS ONTO ParK

1 + 2 bdrm condoS cHooSe From 12 FLoorPLanS

3 bdrm ToWnHomeS WITH garage

(Pre-selling from Cranston Place)

Large 2 bdrm condoS FroM oNLY

241,900

$

COmiNg SOON

+ GST

302 Cranston rd SE 403.457.2670

COmiNg SOON

regiSTer TODaY!

regiSTer TODaY!

Visit cardelcondos.com for all our current and upcoming projects *Prices subject to change without notice. Subject to availability.

CONDOS + TOWNS

Built for real life.

CarDelCONDOS.COm

CL-CMP-1799_CONDO GUIDE_7.5x10.5_AUG2014.indd 1

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

03

2014-07-10 1:15 PM

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W PHA PR SE EV 2 IE W IN G

INNER CITY

BIG IN BRIDGELAND BIG Homes BIG Park BIG Kitchens BIG Decks BIG Value

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7A St. NE

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Memorial Dr. NE

Calgary Zoo

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403.269.2805 PRESENTATION CENTRE 824 1ST Avenue NE, Calgary Open Daily 12-6pm, Closed Fridays

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Some conditions apply, please call a Bridgeland Crossings sales representative for details. This is not an offering for sale.

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newcondoguide.com | VOLUME 17 ISSUE 08 | NEW CONDO GUIDE 07

table of contents

July 25 – August 22, 2014 volume 17 issue 08

11

Avi Urban launches

Canoe in Auburn Bay

columns, news & features 010 editor’s note Columnists

040 contemplating condominiums Who owns my deck and parking stall? by linda palfi

042 Home Sweet Home Lessons learned, the easy way

by Lydia McNutt

Condo features

011 cover story Avi Urban launches Canoe in Auburn Bay BY heather ryan

036 condo profile Battistella launching LIDO in Kensington BY heather ryan

Homebuyers’ Help

016 in the news Brookfield Residential unveils its four new Muskoka showhomes in the community of Auburn Bay 020 Industry News Alberta residential construction generates $17.9B investment 028 in the news Canadian home sales up, hit highest level since March 2010 024 Hot Topic Eight easy steps to identifying good home builders 030 Homebuyers’ Help The value of a realtor when buying a new condo

BY Peter Ng

038 CMHC Report Alberta housing starts climb in first half of 2014 054 Condo Buyers’ Checklist 055 HomeBuyers’ Resource Section 058 INDEX Project Location Maps

015 Southeast Map 019 Southwest Map 023 Satellite Communities 027 Northwest Map 035 Inner City 053 Northeast Map

11

President, Wall2Wall Media

Jacqueline Hill Editor-in-Chief / Director of Content

Susan Legge Director of Sales, National

Josh Heppner Senior Sales Manager, Western Canada

Edwin Rizarri Art Director

Daiana Garay Editor

Lydia McNutt Contributing Editors

Sara Duck Wayne Karl Elisa Krovblit Design Editor

Yanic Simard

Media Consultant

Natalie Houghton 587.226.1313 Like us on Facebook: search: CalgaryNewCondoGuide

20 Production Manager

Bala Gnanapandithan Production Co-ordinator

Greg Van Sluytman Graphic Designers

Viosa Barileva, Caroline Wassef

Published By

newcondoguide.com 2891 Sunridge Way N.E. Calgary, AB T1Y 7K7 Copyright 2014 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.

Wall2Wall Media is a trademark of Yellow Pages Group Co. in Canada.

Advertising rates

T 587.226.1313 email natalie.houghton@wall2wallmedia.com 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.

Editorial Submissions from interested parties will be considered. Please submit to susan.legge@wall2wallmedia.com

The views and data expressed by columnists do not necessarily represent those of the publication.

36

Please recycle this magazine! Wall2Wall Media 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

BEST BUILDER IN THE BUNCH

SUSAN LEGGE

EDITOR-IN-CHIEF

Wall2Wall Media Susan.Legge@wall2wallmedia.com Follow me on Twitter at Twitter.com/SusanLegge Like us on Facebook Search: Condo Guide

You’ve agreed that a new condo is the way to go and you’re making headway, but you still have another big decision to make – choosing your home builder. It pays to check the reputation of the builder/developer before you sign on the dotted line.

Start by finding out how long the company has been in business. Ask a sales representative or visit the company’s website.

Next, find out if previous purchasers are happy with their homes. Drive around an existing community built by the company and talk to anyone you run into during your tour.

Naturally, you should spend some time visiting several different sales offices and show suites. Get a feel for each company and the staff employed there. Ask a lot of questions and expect to be treated with consideration and respect. No question is too “dumb.”

Think twice about any development where the salespeople push you to make a decision you’re not ready for, or where they are not willing to provide you the information you request. There are many other builders and salespeople out there who take pride on putting the customer first.

When you do find the right home and the right builder, making that big decision will be a whole lot easier and more enjoyable.

SMALL, SWEET AND SMART!

LYDIA MCNUTT

EDITOR

Wall2Wall Media Lydia.McNutt@wall2wallmedia.com Follow me on Twitter at Twitter.com/LydiasTweets

If you’re condo hunting in the big city, you’ve probably come across some small but sweet spaces you’d love to call “home.” While the micro condo trend is nothing new to cities like Hong Kong and New York, small-space living is catching on in a big way, with new compact suite designs that are making leaps and bounds in terms of style, and lifestyle. The more of these mini dwellings you tour, the more you’ll realize that it’s not always the size that matters, but how you use it.

Home builders and developers incorporate efficient layouts that make the most of every inch. Built-in shelving and storage systems, clever kitchens and open floor plans deliver fashion and function. Add to this modern innovations like dual- and even triple-purpose furnishings, and a 500-sq.-ft. suite all of a sudden offers room to spare. Interior designer and Here are some tips on how you can live large in a small space: ›› Vertical storage: You might think that condos offer little in the way of storage space, but look up! Line the walls with shelves to bring a practical storage solution and visual flair to your small space. ›› Light & bright: Bright colours amplify natural light, creating the illusion of more space. ›› Double dose: A large mirror, strategically placed near a window, will visually double the size of the space, double the natural light, and double the views!

10 NEW CONDO GUIDE | VOLUME 17 ISSUE 08 | newcondoguide.com

cover story

Avi Urban launches

Canoe in Auburn Bay // By Heather Ryan

Condo buyers who dream of living in a lake community with a wide

range of amenities at their doorstep will be thrilled to discover that the dream can come true with Avi Urban’s newest condo development in southeast Calgary.

Located in highly sought after Auburn Bay, Avi Urban, the multifamily division of Homes by Avi, is crafting the aptly named Canoe featuring 158 apartment-style condos in a four-storey U-shaped building that offers quality, space and value.

“We’re really pleased to launch Canoe,” says sales and marketing manager Chris Pollen. “Being located in the lake community of Auburn Bay means our homeowners will have lake access that they can enjoy throughout the year, as well as access to parks and walkways throughout the community. It’s also close to the southeast hospital and Seton’s urban district, and a future retail plaza and LRT station sit on both sides of the development, situating homeowners at Canoe in walking distance of every necessity,” Pollen says.

Homeowners have nine unique floor plan options with tons of variations to choose from, so they can pick the perfect space to suit their needs. The floor plans range from 620 to 1,300 sq. ft. and come in studio, one- and two-bedroom layouts.

Canoe has been designed as a perfect fit for Auburn Bay, featuring open-concept designs with finishes that are anything but standard, and titled parking in the underground parkade.

“Canoe is ideal for first-time buyers because of the great 11

standard specifications, such as the nine-ft. ceilings and oversized and wrap-around balconies, and the accessible price point,” he adds.

Interiors are well-appointed with features like extended-height flat-panel cabinetry, and modern Moen fixtures and vessel sinks, plus buyers can personalize their homes by choosing from among fresh mix-and-match interior selections and options like built-in cabinetry.

As a reflection of Auburn Bay’s cottage-like feel, Canoe’s exterior presents authentic East Coast-inspired architecture and coastal elevations with James Hardie siding in seaside colours.

“It will also have varied elevations for movement in façade, and interesting exteriors. Stylish additions, like a stunning turret and porte cochere, that will blend seamlessly with the community.”

Pollen says.

Avi Urban will also develop beautiful landscaping for Canoe

Interiors are well-appointed with features like extended-height flat-panel cabinetry, and modern Moen fixtures and vessel sinks, plus buyers can personalize their homes by choosing from among fresh mix-and-match interior selections and options like built-in cabinetry

12 NEW Condo Guide | Volume 17 issue 08 | newcondoguide.com

that will include a lake country inspired courtyard with a custom fire pit, an open marketplace feel at the entrance to community, and hundreds of trees will surround connective pathways that allow residents to walk through the development to the future LRT station and convenient retail plaza next door.

“Residents will also enjoy having quick access to Seton urban district for restaurants, banks, grocery stores, and tons of other amenities right outside their front door,” Pollen says.

Residents will find it’s a short drive down 52nd Street to the 130th Avenue shopping district, McKenzie Towne High Street for even more amenities, and there is easy access to both Stoney Trail and Deerfoot Trail for commuting to points across the city and heading out of town.

The Canoe sales centre is located at 25 Auburn Meadows Ave. S.E. Hours are Monday to Thursday from 2 to 8 p.m.; and weekends and holidays from noon to 5 p.m. More information on Canoe in Auburn Bay can be found by visiting online at Aviurban.com/Canoe.

newcondoguide.com | Volume 17 issue 08 | NEW Condo Guide 13

NO W

SOUTHEAST

SE

LL IN

G!

Quarry Park’s latest masterpiece offers one, two and three bedroom residences with a long list of outstanding specifications inside and out – all in a stunning riverside location. Step into the good life today at the Gates in Quarry Park, Calgary’s most diverse community.

770 SQ. FT. ONE BEDROOM + DEN FROM THE

$290s

1020 – 1315 SQ. FT. TWO & THREE BEDROOMS FROM THE

$360S

PRESENTATION GALLERY 350 Quarry Park Blvd SE Mon to Thur - Noon to 8pm Fri - Closed Sat & Sun - Noon to 5pm

403.930.6900 14

remingtoncorp.com

BLV

D.

MCKNIGHT BLVD.

16 AVENUE 12 AVENUE

68 STREET

IE

EDMONTON TRAIL

IL

CENTRE STREE

UR

TRA

14 STREET

32 Ave

16 AVENUE

RIVE RIAL D

MEMO

RIAL D RIVE

SOUTHEAST COMMUNITIES 36 STREET

MEMO

1797 Copperfield Blvd SE

09

14

211 Mahogany Way

13 M OSAIC CRANSTON

BY BROOKFIELD HOMES

114 AVE SE

DEERF18 OOT T RAIL

206 Cranford Drive SE

W BO

NEW BRIGHTON

14 B OULEVARD TOWNES

BY BIRCHWOOD

M TTO BO

CRE

12 E BONY

BY JAYMAN MODUS

84 STREET

52 STREET

19

BARLOW TRAIL

GLENMORE TRAIL

ANDERSON ROAD

AIL

AIL

VITT

D TR

McKE

UIS MARQ

IL E TRA

RN OF LO

01

COPPERFIELD

23

12

AUBURN BAY

20

05

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

02 C OPPERFIELD PARK

BY BRAD REMINGTON HOMES 279 Copperpond Common S.E.

03 M USKOKA

BY BROOKFIELD HOMES 65 Auburn Meadows Way

04 MOSAIC

LAKESIDE AUBURN BAY

BY BROOKFIELD HOMES

22

03 04 10

13

16 06 08 13

01 C RANSTON RIDGE

BY CARDEL LIFESTYLES

16 A UBURN BAY

BY STONECROFT

MAHOGANY

CHAPARRAL CRANSTON

116 Quarry Park Way SE

02 11

16

LEO

Mac

S JAME

TR

EK P ARK

SHAWNESSY BLVD.

Coming Soon 25 Auburn Meadows Ave SE

11 C HALETS IN COPPERFIELD

BY SABAL HOMES

SOUTHLAND DRIVE

FISH

10 C ANOE

BY AVI URBAN

52 STREET

ELBOW DRI VE GLENMORE RESERVOIR

17 Ave

BLACKFOOT TRAIL

17 Ave

MacLEOD TRAIL

ILD

SETON BLVD.

Corner of Seton Blvd and Auburn Bay Link SE

17 M OSAIC MIRAGE

BY BROOKFIELD HOMES 347 MacKenzie Towne Gate

18 T HE GATES

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

19 C HAMPAGNE

BY REMINGTON DEVELOPMENTCORPORATION

05 L EGACY STREET TOWNS

BY HOMES BY AVI

Quarry Park Blvd SE remingtoncorp.com

Coming Soon to the corner of 210 Ave. and Legacy Blvd.

20 C RANSTON PLACE

BY CARDEL LIFESTYLES

06 Z EN

BY AVALON MASTER BUILDER

302 Cranston Road SE

22 M AHOGANY STREET TOWNS

BY HOMES BY AVI

82 Auburn Bay Link SE

08 M USKOKA

BY BROOKFIELD HOMES

13 Marine Dr SE

23 S YMMETRY AND HARMONY

BY STONECROFT

27 Auburn Bay Link SE

09 B RISTOL TOWNHOMES

BY BIRCHWOOD NOW SELLING

121 Copperpond Common SE

232 Quarry Park Blvd. SE

27 Auburn Bay Link SE

COPPERFIELD PARK II LOVE IT. LIVE IT. AFFORD IT.

CONDOS* FROM THE $130’S +GST Titled parking stall included.

*

www.copperfieldpark.com 403.723.0094 newcondoguide.com | VOLUME 17 ISSUE 08 | NEW CONDO GUIDE 15

In The News

Brookfield Residential

unveils its four new Muskoka showhomes in the community of Auburn Bay Brookfield Residential is thrilled to showcase its four new Muskoka Townhomes in the award winning community of Auburn Bay, on Saturday, August 9th, 2014.

“It’s an incredible model lineup that reflects the community and will appeal to so many diverse lifestyles,” says Kelly Halliday, Sales and Marketing Manager with Brookfield Residential.

Inspired by the cottage country lifestyle of Auburn Bay, Muskoka Townhomes offer customers a choice of nine floorplans, each with a distinctive look and feel, to fit their lifestyle and needs. The Indigo however, is the showstopper amongst the beautifully crafted homes with its modern cottage design concept, but with a ‘Canadiana’ twist.

“It has the charm and ambiance that you would find in the beautiful lake district of Muskoka in Ontario mixed with the down-to-earth functionality needed in a

16 NEW Condo Guide | Volume 17 issue 08 | newcondoguide.com

family home,” explains Halliday. “Details such as the warm, red accents throughout the home, the Hudson Bay blankets and wood panelled feature wall, to even a hockey themed child’s bedroom; together they give this home its Canadian-inspired décor.”

Starting from the mid $200’s before GST, this 106 home development is the third multi-family development for Brookfield Residential in the four season lake community.

“A lot of our buyers are attracted by the lifestyle this 43-acre lake community offers, with its added appeal of living near the new Seton Urban District and the South Calgary Health Campus,” adds Halliday. “Homebuyers can experience cottage lifestyle with all the convenience of city living.”

The Indigo, Crimson, Ruby and Ivory are four of nine floorplans available at Muskoka, ranging in size from 720 sq.ft. to upwards of 1,400 plus sq.ft.

For more information on Muskoka Townhomes by Brookfield Residential, please visit www.LiveBrookfield.com

SOUTHEAST

AUBURN BA

Y

17

Dear Mortgage, I’m taking time off to cook up a new career.

Take time off from your mortgage payment.

A flexible mortgage from TD allows you to concentrate on something you’ve always wanted to do. Just add a little extra to your regular payments and then have the option to take a payment vacation for up to four months1.

It’s just one of TD’s flexible mortgage features.

Visit a branch or tdcanadatrust.com/paymentvacation

1

Conditions apply. See us for details. ® The TD logo and other trade-marks are the property of The Toronto-Dominion Bank.

18 NEW CONDO GUIDE | VOLUME 17 ISSUE 08 | newcondoguide.com

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

4

SARCEE TRAIL

TRA

IL

IV E 03 OVATION

BY INTERGULF CIDEX

#2105, 99 Spruce Place S.W.

36 STREET

03 17 Ave

07

08

05

16

11

09

04 T HE LANDINGS

BY STATESMAN

771 Patrick St. S.W.

05 O VERTURE

BY JAYMAN MODUS

Sales Centre Now Open in Currie Barracks

06 S AWYER SILVERADO

BY AVI URBAN 175 Silverado Blvd S.W.

07 G LAS

BY AVALON

GLENMORE RESERVOIR

BARLOW TRAIL

ORE

DR

MacLEOD TRAIL

NM

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

ME M O R I AL

37 STREET

GLE

69 STREET

85 STREET

12

01 H UNTER HOUSE

BY STREETSIDE DEVELOPMENT 16 AVENUE

BLACKFOOT TRAIL

OLD BANFF COACH ROAD

32 Ave

EDMONTON TRAIL

E

14 STREET

ENU

ELBOW DRI VE

16 A V

CENTRE STREET

SOUTHWEST COMMUNITIES

SOUTHLAND DRIVE ANDERSON ROAD

DEERF

OOT T

W BO

CRE

Presentation Centre: 2719 14th St. SW

09 M ISSION 34

BY ASSURED DEVELOPMENTS

11 C URRIE BARRACKS

BY CANADA LANDS COMPANY

AIL

TR

AIL D TR LEO SHERIFF KING ST. SW

VITT

McKE 01 06

194 AVE

Mac

S JAME

SHAWNESSY BLVD.

08 A LEX

BY ASSURED DEVELOPMENTS

98 Mission Road SW mission34.ca

M

EK P ARK

TTO BO

FISH

RAIL

2712 17th St. SW

UIS

MARQ

RNE OF LO

TRAIL 12

J5, 2953 Battleford Ave. S.W.

IGHTY5NINE E

BY VERTICAL PROPERTIES

882 - 85 Street SW eighty5nine.com

16 E INSTEIN

BY PROVIDENCE GROUP 1521-26th Ave. Discovery Centre Now Open 139-17th Ave. SE

newcondoguide.com | VOLUME 17 ISSUE 08 | NEW CONDO GUIDE 19

in the news

Alberta Residential

construction generates $17.9B investment Alberta’s residential construction economic impact hit $17.9 billion annually as investment in home building and renovation climbed, according to a study for the Canadian Home Builders’ Association – Alberta

Alberta’s residential construction economic

impact hit $17.9 billion annually as investment in home building and renovation climbed, according to a new study for the Canadian Home Builders’ Association – Alberta (CHBA – Alberta).

Investment rose more than 17 per cent, or $2.7 billion, in 2013 over the previous year. The work produced more than 100,000 jobs for Albertans and nearly 25,000 jobs elsewhere in Canada. Wages totalled $7.9 billion.

The value of new home construction reached $9.7 billion while renovation work totalled $6.7 billion. Expenditures such as realty and legal fees added $1.5 billion.

“Builders broke ground on almost 100 new homes a day last year, and construction is forecast to rise again in 2014. Buying a new home or starting a major renovation is a giant vote of confidence in Alberta’s future and the strength of the housing market. Unlike many major consumer purchases, most of that investment stays in the local economy,” says Stephen Amonson, president, CHBA – Alberta.

The new economic impact report for Alberta was prepared by Will Dunning Inc., a consulting firm that specializes in housing market analysis, 20 NEW Condo Guide | Volume 17 issue 08 | newcondoguide.com

and is based on actual results for 2013, and includes investment, direct and indirect employment, and wages paid.

The report shows almost a fifth of all new homes built in Canada were in Alberta – well above the province’s 11.5-per-cent share of the national population – and the highest proportion since 2007.

“The pressure is on Alberta’s housing market with both rents and existing home sales rising fast.

New homes are needed to keep prices from rising out of reach of many Albertans, especially firsttime buyers. The last thing Albertans searching for a home need are more ‘new neighbour taxes.’ Costs imposed by governments in the form of taxes, levies, permits and fees must be controlled if Alberta is to offer a quality of life that attracts new workers and investment,” says Jim Rivait, CEO, CHBA – Alberta.

Downsize, Don’t downgrade.

Make room for summer!

With large terraces perfect for summer entertaining, our stacked bungalows set a new standard for outdoor living in southwest Calgary. And on the inside, Hunter House features high-end finishes that are sure to impress.

Townhomes from the $380’s and Stacked Bungalows from the $490’s

Visit HunterHouseLiving.com for more information.

Visit our showhomes at 220 Silverado Plains Park SW Call us at 403.240.4664 21

SATELLITE COMMUNITY

90% SOLD. 2 bedroom condos

from the mid 200’s.

MOVE IN NOW.

REGISTER ONLINE AND TAKE $1000 OFF YOUR PURCHASE PRICE! condosinairdrie.com 22

403.980.2817

CALGARY’S SATELLITE COMMUNITIES 22

AIRDRIE

03

02

COCHRANE 01

07

08

10 12

13

06 04

24 Sunset Rd. Cochrane, Alberta

11

09

20

1A

20 S UNSET

BY JAYMAN INNOVATIONS

AIRDRIE

2

09 C REEKSIDE VILLAGE

BY CARLISLE GROUP

05

8th & MacKenzie Way Airdrie, Alberta

10 S TONEKEEP AT KING’S STRATHMORE HEIGHTS TOWNHOMES

BY MERGE 1DEVELOPMENTS

1

CALGARY

15

CHESTERMERE

797 LANGDON

22X

22X

1225 King’s Heights Way SE Airdrie, Alberta

11 T HE EDGE

BY STREETSIDE DEVELOPMENTS

604 East Lake Blvd N.E. Airdrie, Alberta

12 R AVENSWOOD TOWNHOMES

BY SLOKKER CANADA WEST BLACK DIAMOND

22X

17

2802 Kings Heights Gate

2

13 B ROOKSIDE AT BAYSPRINGS

BY MERGE DEVELOPMENTS

OKOTOKS

546

TURNER VALLEY

543

Coming Soon to Yankee Valley Blvd. and 24th St. SW BrooksideAtBaysprings.com

2A

15 C HESTERMERE TOWNHOMES

BY SLOKKER CANADA WEST

22 HIGH RIVER

COCHRANE 01 T OWNHOMES AT JUMPING POUND RIDGE

BY SLOKKER CANADA WEST

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

02 H EARTLAND TOWNHOMES

BY EXCEL HOMES 1178 Clydesdale Way, Cochrane, Alberta

#300 Marina Drive, Chestemere

03 C ONCEPT

BY JAYMAN MODUS

06 T HE VILLAGE

BY CALBRIDGE HOMES

04 S UNSET POINTE

BY CALBRIDGE HOMES

07 R IVERREACH VILLAS & MANORS

BY JAYMAN MASTERBUILT

201 Sunset Drive, Cochrane, Alberta

302 Sunset Pointe Cochrane, Alberta

05 S TONE CREEK LANDING

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

3102-15 Sunset Square Cochrane, Alberta

17 Z EN OKOTOKS

BY AVALON LETHBRIDGE MASTERBUILDER

www.zeninbalance.com

13 Riviera Way Cochrane, Alberta

08 T HE RANGE

BY BIRCHWOOD PROPERTIES CORP. 101 Heartland Avenue Cochrane, Alberta

newcondoguide.com | VOLUME 17 ISSUE 08 | NEW CONDO GUIDE 23

HOT TOPIC

8 EASY STEPS

to identifying the good (and bad) home builders

the biggest investment decision of your life. Make sure that you have all the facts and do your homework before you commit.

Home building is a complex process. It takes training and a great deal of skill to build a high-quality home. Not everyone who claims to be a home builder is actually qualified or experienced. After visiting as many show suites as you can, narrow your list of preferred builders to the top three. If they have the plans and specifications that you like, or the ability to provide them, your next step will be... you guessed it! More screening.

YOU ARE ABOUT TO BUY A CONDO AND MAKE

8 STEPS TO FINDING YOUR DREAM HOME BUILDER: 01 | Talk with people who have already bought homes from these home builders, and ask them if they are satisfied customers. Ask about the attention they got throughout the home-buying process and after they moved in. You can get a list of past customers from the home builders, or walk through a completed neighbourhood by the builder you’re researching, knock on some doors, and get an unbiased account.

Find out if the builders are members of a new home warranty program, and if not, why? Good builders provide warranty coverage – deposit protection, material and workmanship warranties, and a sound structural warranty – and must show that they have the technical, management, marketing, and financial skills necessary to build new homes.

02 |

Ask if the builders are members of the Canadian Home Builders’ Association – Calgary Region, and if not, why? The Association works with governments and private partners to improve regulations which affect the cost of your new home. They believe in affordability. They stay up-to-date on developments in the industry and keep their technical and business skills well tuned through workshops, courses and information sharing.

03 |

04 | Ask

what industry-sponsored training programs the builders and their staff have taken in recent years. Building and design technology is constantly changing, and professional home builders invest in keeping current.

05 | Ask if home building is the builder’s full-time profession. Many of the common problems consumers run into are caused by amateur builders with little experience or training.

24 NEW CONDO GUIDE | VOLUME 17 ISSUE 08 | newcondoguide.com

06 | Inspect

the show suites on quality, attention to detail and cleanliness. These are good indicators of the quality of the builder.

07 | Drive

past the builders’ construction sites. Are they clean and orderly? This usually indicates a well-organized builder.

08 | Ask

the builders how many years they have been in business and if they have always operated under the same name. As with any other business, builders can employ various strategies – such as dissolving old companies and forming new ones – to avoid obligations to customers.

CHBA – Calgary Region is the voice of the residential homebuilding industry, with a national body representing more than 8,000 member firms across the country.

Membership comprises new home builders, renovators, developers, trade contractors, building material manufacturers and suppliers, lenders, and a host of other housing industry professionals. Visit chbacalgary.com.

NORTHRIDGE DR

CALGARY

2A

O KOTO K S SHEE P RIVER

ST

LA

ND

RD

SOUTHRIDGE DR

BIG ROCK TR

WE

WESTRIDGE DR

7

2A

25

ZEN Okotoks CG 20140619.indd 1

19-06-14 11:15

NORTHWEST

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NORTHWEST COMMUNITIES

AIL 15

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IL N

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AG AN

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newcondoguide.com | VOLUME 17 ISSUE 08 | NEW CONDO GUIDE 27

IN THE NEWS

CANADIAN HOME SALES UP, hit highest level since March 2010

NATIONAL HOME SALES ACTIVITY EDGED UP almost one per cent on a monthover-month basis in June 2014, marking the fifth consecutive monthly increase and the highest level for sales since March 2010, according to statistics released by The Canadian Real Estate Association (CREA).

The number of home sales increased 0.8 per cent on a month-overmonth basis in June 2014. Sales rose in about half of all local housing markets in June, led by gains in Greater Vancouver where activity hit its highest level in more than three years, and Montreal where activity is now 10 per cent above post-recession lows reached earlier this year.

“Sales have improved compared to their slower start earlier this year,” says CREA president Beth Crosbie. “That said, there are still important differences in how housing markets are faring depending on location, housing type and price point.”

Sales activity in June stood 11.2 per cent above levels reported in the same month last year. June sales were up from year-ago levels in three out of every four local markets, led by Greater Vancouver, Fraser Valley, Calgary, Greater Toronto and Hamilton-Burlington.

The number of newly listed homes was little changed in June, having eased by 0.1 per cent compared to May. In May, new listings reached their highest level since April 2010.

“At least some of the recent burst in new supply reflects the slow start to the year, when a harsh winter caused many sellers to delay listing their home in many parts of the country,” says Gregory Klump, CREA’s chief economist. “In markets with tight supply and strong demand, the strength of sales in recent months reflects how many properties were snapped up once they finally hit the market. Because the impact of deferred listings and sales has likely run its course, activity over the second half of the year may not be able to maintain the kind of pace we’ve seen over the past couple of months.”

The national sales-to-new listings ratio was 53.6 per cent in June, up slightly from 53.2 per cent in May but still well entrenched within the range between 40 and 60 per cent that marks balanced market territory. Just over half of all local markets posted a sales-to-new listings ratio in this range in June, with a fairly even split among the remainder between those in buyer’s market and seller’s market territory.

The number of months of inventory – the time it will take to liquidate current inventory at the current rate of sales activity – has firmed since the beginning of 2014. There were six months of inventory nationally at the end of June 2014. This was unchanged from May but half a month below where it stood at the beginning of the year. As with the sales-to-new listings ratio, the number of months of inventory continues to suggest that housing markets remain generally well-balanced.

28 NEW CONDO GUIDE | VOLUME 17 ISSUE 08 | newcondoguide.com

Prices were up by 5.4 per cent year over year in June following slower price gains in April and May. Two-storey single-family homes posted the biggest year-over-year price gains (up 6.19 per cent), followed by single-family bungalows (up 5.35 per cent) and townhouses (up 5.07 per cent). Price growth for apartment units remained comparatively more modest (up 3.85 per cent).

Year-over-year price growth varied among local housing markets, with the biggest gains posted

by Calgary (up 10.74 per cent), Greater Toronto (up 7.77 per cent), and Greater Vancouver (up 4.37 per cent).

The national average price for homes sold in June 2014 was $413,215, up 6.9 per cent from the same month last year.

The national average price continues to be skewed upward by sales activity in Greater Vancouver and Greater Toronto, which are among Canada’s largest and most expensive housing markets.

Excluding these two markets from the calculation, the average price is a relatively more modest $336,164 while the year-over-year increase shrinks to 5.2 per cent.

HOMEBUYERS’ HELP

// BY PETER NG

THE VALUE OF A REALTOR WHEN BUYING A NEW CONDO 2 GET REPRESENTATION

If you plan on buying a condo on your own, you run the risk of not having your own interests protected. While the developer’s salespeople are not necessarily trying to take advantage of you, they work for the benefit of the developer.

Your realtor’s job is to help you choose a home that aligns with your needs and meets your expectations, after it’s built and for years to come.

If the unfortunate situation arises where there is a major problem or issue with the unit, your realtor will be able to step in and work as your advocate.

Peter Ng has been a realtor in Calgary for nine years, and actively involved in real estate ventures for over 12 years as a marketer, investor, developer and home builder. Over this time, he has established himself as a trusted real estate professionals specializing from condo pre-sales to investment properties. korerealestate.com

T

here are so many reasons to use a realtor when buying a new condo that it would be impossible to list them all.

Fundamentally, having a real estate agent represent you when purchasing a new home not only makes the process more pleasant, but a realtor can help you get the best value for your money, resulting in a home that is everything you expected it to be after construction is complete.

1 STAY WITHIN YOUR BUDGET

3 TAKE ADVANTAGE OF THE SERVICES

Having a realtor work with you gives you the benefits of many services, which include, but are not limited to, the following: Market analysis: Realtors can, and should, perform a market analysis to help you determine the right time to buy. A realtor will be able to explain the benefits of purchasing in a low season or high season, and should be able to tell you whether it’s a hot or slow real estate market, and what that means to you.

Search, filter and compare developments: You can simply tell your realtor what you’re looking for in terms of price, location, and any other details that may be important to you, and your agent will manually filter out projects and present only those that will be of interest to you, streamlining the process and saving you a lot valuable time.

Development analysis: It is extremely important to work with developers who are reputable and have a history of building-good quality developments. Realtors are able to provide you with insider information and the track records of developers and developments to ensure you make the right choice.

During development analysis, your realtor will examine the following aspects of the new development and the development team behind it:

» Reputation in the industry » Credibility » History of construction quality and condo fee increases in previous developments » Financial standing of the development company » Pre-sales status » Construction financing status » Construction progress and schedule » Future development sites that may obstruct your views or affect the value of your purchase

It’s common knowledge that realtors are paid commissions on the homes they help their clients to buy and sell.

However, as a buyer, there is no cost to you. Your Realtor will help you ensure the condo unit is within the pricing for the neighbourhood, and that you stay within your budget. An experienced realtor will also know what upgrades will give their client the best value for the money.

30 NEW CONDO GUIDE | VOLUME 17 ISSUE 08 | newcondoguide.com

Jayman-Modus 06-27-14.indd 1

2014-06-19 11:03 AM

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

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

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2014-06-19 11:03 AM

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2014-06-19 11:03 AM

Buying a home is possible!

ASK US

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Example. Purchase July 2014 with occupancy February 2015 Purchase Price

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

Payment Structure

1000 7,514

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

Remaining 8,514 staggered monthly until last payment 45 days prior to possession August 1702.80 September 1702.80 October 1702.80 November 1702.80 December 1702.80

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It’s just what we do.

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2014-06-19 11:03 AM

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

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

Jayman-Modus 06-27-14.indd 12

2014-06-19 11:03 AM

Your realtor can also help you decide whether you want to take the risk of purchasing a unit from a newer developer who doesn’t have a previous track record to look into.

Home evaluation: Home evaluation, which is also called “comparative market analysis,” is the process by which a realtor compares your chosen development to similar developments in the area and to resale listings to determine market value. A home evaluation is vital in ensuring the property you purchase is worth what you are paying for it.

Building plan and floor plan review: For pre-construction sales, it is particularly important to have a real estate agent review the building plans and floor plans. Your realtor will be able to look at the plans and determine whether or not they are functional, will retain resale value, and are what you are looking for. Your agent will be able to make sure you are aware of anything that can affect the value of your new condo, as well as your enjoyment of it, such as potential smell, noise and security issues. Experienced agents will bring to your attention where the garbage chutes, sheds, mechanical rooms, entrances and elevators are in relation to your unit, and how they will affect you.

Contract review: By having a realtor review your contract before you sign it, you can avoid many common pitfalls. A realtor will review the contracts to point out the following: » Escalation and Termination Clauses – Determines if and when the developer can increase your purchase price or terminate the purchase contract » Substantial Change Clause – Determines if and how much a developer can change the specifications and square footage of the unit you purchase » Deposit Clause – Determines if your deposit money is deposited into the developer’s bank account or into a lawyer’s trust account; and if the developer can use your deposit funds Upgrade and selections review: A realtor will help you review

your upgrade options and determine which ones are of value.

Some upgrades are worth doing through the developer, and others cost much less if done on your own after taking possession.

Negotiation of terms and clauses: Often times, there will be some room for negotiation in the contract terms and clauses.

You will need an experienced realtor to negotiate the most favourable terms for you. Developers often use their standard contracts, which are drafted by their lawyers to protect their interests. You need to have someone advocating for you to ensure the contract terms and clauses are fair for you as well. Experienced agents know what to look for and what needs to be changed before accepting a contract.

Pre-delivery inspection The pre-delivery inspection, which is also referred to “walkthrough inspection,” ensures required repairs are noted on the deficiency list. The deficiency list gets submitted to the developer, who will then correct the deficiencies under the new home warranty program.

Experienced realtors have done walkthrough inspections hundreds of times and know what to look for to ensure nothing is missed.

Deficiency repair follow-up: Your realtor will follow up with you and the developer to ensure all of the deficiency list repairs have been completed. A professional realtor will do this and provide you with complete end-to-end service. newcondoguide.com | VOLUME 17 ISSUE 08 | NEW CONDO GUIDE 31

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newcondoguide.com | VOLUME 17 ISSUE 08 | NEW CONDO GUIDE 35

condo profile

Battistella launching LIDO in Kensington

a

// By Heather Ryan

unique condo project that offers a fabulous location in desirable Kensington, with well-designed suites and upscale finishings, has quickly become a hit with buyers.

Located at the corner of 2nd Avenue and 10th Street N.W., LIDO by Battistella Developments is an eight-storey mixed-use building that combines residential, retail and a boutique hotel, and is being so well received that it’s already 60 per cent sold.

“We’re very excited because the response has been excellent and our presentation centre is extremely busy,” says Traci Wilson, director of sales and marketing.

“People love the floor plans, suite sizes and the views,” she says. “The finishing package is being really well received; it’s a step up from what we typically build with wood-plank style flooring and high-end appliances including a gas stove and built-in wall oven.

“And it’s really a stellar location, being on 10th Street in the heart of Kensington,” Wilson adds, noting it’s just a block away from the LRT station and an array of shops, services, coffee shops, restaurants, parks, pathways and downtown are just minutes from the doorstep. “It’s really a great area to live.”

36 NEW Condo Guide | Volume 17 issue 08 | newcondoguide.com

LIDO will be a midrise concrete building featuring small retail shops on the main level and – a first for Battistella – and a secondfloor boutique hotel available for both residents to use for overnight guests and the general public.

The top six floors include 60 apartment-style condos featuring cool, modern style that appeals to everyone from young professionals looking to move up, to empty nesters looking to downsize.

The residential suites present a variety of one- to three-bedroom floor plans ranging from 450 to 1,500 sq. ft. Prices start in the $280,000s for one-bedrooms; one-bedroom-with-den suites are

balconies with gas line hookups. Suites also come with an underground parking stall and LIDO offers a 10-year structural warranty.

“A lot of our residents are young professionals buying their second or third condo, and downsizers who are moving from a large home and don’t want to skimp on size, style and luxury,” Wilson says. “They’re downsizing, not downgrading.”

The building’s exterior is also appealing, designed to fit into the Kensington streetscape with brick gracing the first two floors, and glass above and the entrance will feature Battistella’s signature colourful mosaic, as well as a restored sign from Kensington’s LIDO Cafe adding historic character. Residents will also have a great rooftop patio where they can socialize and enjoy stunning views of downtown and the Bow River.

LIDO means a place of recreation in Europe, which fits both the Battistella family’s Italian background and the location, says Wilson.

“Residents can relax in Kensington and live the LIDO lifestyle.”

For more information about LIDO, visit the presentation centre at 1120 Kensington Rd. N.W., open Tuesday to Friday from 10 a.m. to 6 p.m.; and weekends from 11 a.m. to 5 p.m., visit battistella.ca/lido or call 403.290.1664.

priced in the $400,000s; twobedrooms are in the $500,000s; and three-bedrooms in the $900,000s.

“We’re still offering preconstruction pricing,” Wilson says, but buyers will need to act fast to take advantage of that, as plans are to start demolition of buildings on the site this summer with excavation and construction to start in the fall.

Along with the great location, buyers adore the high-end interior finishings – especially the unique kitchen island that has been designed just for LIDO, featuring a custom dining table at one end and a quartz countertop at the other end that surrounds the built-in five-burner gas stove. Other impressive features include Fisher & Paykel stainless steel appliances, European-style floating cabinets, in-suite laundry with washer and dryer, floor-to-ceiling/wall-to-wall windows, nine-ft. ceilings, and

CMHC REPORT

ALBERTA HOUSING STARTS CLIMB IN FIRST HALF OF 2014 pushed Alberta housing starts up strongly in the first half of 2014.

At 18,137 units, total housing starts recorded by Canada Mortgage and Housing Corp. (CMHC) in the province’s cities with a population over 10,000 were up 12 per cent from the first six months of 2013. Improvements in Metro Calgary, Lethbridge, Medicine Hat and Red Deer offset declines in Greater Edmonton, Grande Prairie, and Wood Buffalo.

Single-detached starts in the first half of 2014 amounted to 7,859 units, up two per cent from January to June 2013. Multi-family activity was stronger, with total starts reaching 10,278, representing a gain of 22 per cent over combined semi, row and apartment starts reported in the first six months of 2013.

A SURGE IN MULTI-FAMILY CONSTRUCTION

Calgary’s hot condominium apartment market provided much of the heavy lifting. Multi-family starts in Greater Calgary were up over 140 per cent to mid-year, with Lethbridge, Medicine Hat and Red Deer also reporting stronger numbers. A slowdown in Edmonton was expected since 2013 witnessed the second-highest number of multi-family starts on record across the Capital region.

Demand for new homes in Alberta should remain strong for the balance of 2014, thanks to affordable mortgage rates, steady job creation and robust population growth. A shortage of rental units and relatively tighter resale home markets are also helping to bolster consumer interest in new homes this year.

$5000

DEPOSIT Gets You Started

Now Under Construction in Mission 70% Sold!

Call or eMail to make a personal appointment

Project located at 18th Ave & 2nd St SW 38 NEW CONDO GUIDE | VOLUME 17 ISSUE 08 | newcondoguide.com

17 AVE SW

18 AVE SW

2 STREET SW

New Display Centre Open July 26

4 STREET SW

403.263.1150 • MyDistrict.ca

DISPLAY CENTRE 117 17 AVE SW

39

CONTEMPLATING CONDOMINIUMS

Who owns

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

Further articles and her Calgary Condo Directory can be found online at CondosInCalgary.com. Call Linda for more information at 403.998.7732

I

n condominium ownership, you may have a patio or deck and usually one parking space, but you don’t necessarily own these outright.

Because these spaces are outside of your privately owned living area,

// by Linda Palfi

my deck and parking stall? they are considered part of the common property to ensure they are maintained as part of the building. While they’re common property, you have “exclusive use” of them. If someone else parks in a stall assigned to you, have the vehicle towed away. If someone’s party spills onto your patio, order them off. You may own that property jointly with your condo neighbours, but it’s for you alone to use.

An exception to this arrangement is parking that has been surveyed into privately owned pieces of land. You can own these spaces outright, and sell them along with your residential unit, keeping any appreciated value for yourself. Yet, such privately owned parking is subject to the condominium bylaws, so there are still some common-sense rules to follow.

In the case of parking that is common property (owned by all condo owners in the building), you are assigned a stall – whether indoor or surface – by your neighbours who serve as the Condominium Board of Managers.

You may receive a formal lease agreement from the management company your Board employs, but often the arrangement is less formal.

Misunderstanding can occur upon the sale of a condominium home, as the buyer may think he “owns” the assigned parking space that goes with the living unit. But the Board may well have a rotation plan for parking spaces, assigning the available covered stalls, for example, to those owners on a waiting list. New buyers go to the bottom of the list, even though the seller had a covered stall!

Misunderstanding can occur upon the sale of a condominium home, as the buyer may think he “owns” the assigned parking space that goes with the living unit Other condo corporations give parking priority to resident owners over renters of living units. If you buy a unit and live in it, you get to continue using the seller’s covered parking, but if you rent your suite out, your tenant will be assigned outdoor parking. This is not considered discriminatory. The owners – through their Board of Managers – have every right under Alberta law to cater to owners who live there over those who rent out their property.

Going a step further, if you don’t own a car, an assigned parking stall is not really yours to rent out. Usually the bylaws give that right to your condo corporation. In practice, few Boards bother with this, and often assigned spaces earn a few dollars per month for the owner of the living unit they are assigned to.

Buyers should know exactly what the status of their parking space is – and will be – upon their purchase. Your realtor should always inquire on your behalf.

INNER CITY

CALGARY PARKSIDE LIVING

2ND ST SW

ON CENTRAL MEMORIAL PARK

12TH AVE SW CENTRAL PARK

REGISTER NOW QUALEX.CA /PARKPOINT

Another original development by This is not an offering for sale. E.&O.E. 41

home sweet home

Lessons learned,

the easy way

Lydia McNutt is an award-winning writer and editor of New Condo Guide.

Lydia’s love of architecture, interior design and the written word have landed her happily at home at Wall2Wall Media, where real estate rules. Email Lydia.McNutt@wall2wallmedia.com, and follow her on Twitter @LydiasTweets

I

// by Lydia McNutt

n my 10 years as a real estate editor, I have picked up a few things. Get pre-approved for a mortgage before you start shopping.

Don’t buy beyond your means.

Choose your location wisely. I’ve read this same advice time and time again, reiterated by various columnists. I’ve even written a few articles myself on these subjects.

But when it comes to learning, nothing beats first-hand experience.

Having recently bought and sold a home, one thing I’ve discovered is that it’s always better to learn from someone else’s mistakes rather than your own.

In our hunt for a home, my husband and I came across some interesting scenarios worth sharing. With a whole year of open houses under our belts before putting our own house on the market, we quickly learned how not to attract buyers. ›› In the “dog house.” My family’s beloved yellow Lab, Fred, holds a special place in our hearts, but I know not everyone feels the same way about pets.

Some people have allergies, some have phobias, and others just don’t care for them. My husband and I visited an open house with a pretty living room, a renovated and updated kitchen, and a large garage – perfect! But wait, what’s that noise? A pair of howling dogs crated in the garage were making their presence known to everyone who walked through that front door, and probably everyone within a five-mile radius! After enduring 10 minutes of incessant barking, we couldn’t get out of there fast enough.

Lesson learned Before opening your home to potential buyers, neutralize it of anything questionable. This includes the lingering aroma of last night’s fish fry, the remnants of that do-it-yourself cheese-making experiment, and every indication of pets – food dished and all. Even seemingly insignificant things can be enough to influence a prospective homebuyer’s decision – consciously or subconsciously. When in doubt, take it out. ›› Our home is your home? It’s not mandatory that the sellers vacate the home for an open house, but it’s a good idea. You’ve heard that prospective buyers can have difficulties picturing themselves living in your house if they see your family photos on display. Well, that goes double for seeing you in the flesh. We went to an open house and there were the homeowners, drinking coffee with their feet up in their living room – not ours. We felt like intruders.

Lesson learned Typically an open house lasts for only about two hours. Go for a walk, go out for lunch, go to the grocery store. Just go! ›› Dumping ground: I actually went to an open house where I stumbled across a filthy toilet brush, dirty rags and a slop bucket stashed in the shower.

Unfortunately for the sellers, this shower was enclosed in glass and thus, a very poor hiding place. “Gross,” I thought. I didn’t need to see any more.

Lesson learned A first impression is the only impression. Don’t waste this opportunity by showing your home in a less-than-perfect light.

While this all seems like common sense, some people aren’t born with it.

The funny thing about these three scenarios is, the homeowners were all represented by selling agents who likely advised them on best practices. Do yourself a favour – follow professional advice, and learn by example. Before having your own open house, visit as many as you can, take note of what you liked about them, and what you didn’t. Then, learn from other people’s mistakes – not your own!

42 NEW Condo Guide | Volume 17 issue 08 | newcondoguide.com

INNER CITY

0% 5 Y

LD O S

AD E R

AL

C

M

Y

CM

MY

CY

MY

K

Now Selling Second Release ALL under $375,000

UN

DE

RC ON

ST RU CT IO

N

CALGARY’S PERFECT LOCATION Enjoy an unmatched quality of life in the West End from just $364,900.

The West End is an established neighbourhood with an impressive WalkScore of 97 out of 100. Let your feet carry you to the wine bars and boutiques of Kensington or the downtown core with ease.

This naturally urban neighbourhood gives you the best of both worlds: the Bow River pathway outside your door and access to the indoor +15 network linking you to all of Downtown.

Avenue gives you a front-row seat to incredible views, from the Bow River’s gentle movement and the distant Rocky Mountains, to the excitement of city life moving in all directions.

NOW SELLING

Avenue offers details found nowhere else in Calgary, including real hardwood flooring, air conditioning, parking, and the renowned CresseyKitchenTM with its revolutionary storage and walk-through design.

PRESENTATION CENTRE: 1037 5th Avenue, SW, Calgary

AVENUEWESTEND.COM

10 ST SW

5th AVE SW

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

403-530-8455

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

newcondoguide.com | VOLUME 17 ISSUE 08 | NEW CONDO GUIDE 45

IN THE MARKET FOR A

NEW HOUSE

OR A CONDO?

We think finding a home is a lot more than simply finding the right property.

That’s why we put you right in the middle of the search process.

Search your favorite neighbourhood

Find out about nearby services and amenities

View new construction projects and register to get the latest info

Visit the new real estate section on canpages.ca and start looking for that special place.

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13-02-26 4:50 PM

6TH ST NE

RENFREW

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SALES CENTRE 701 7th AVE NE Mon-Thurs: 12-6 PM 8TH AVE NE Sat-Sun: 12-5 PM

PROJECT LOCATION

7TH AVE NE 5TH ST NE

EDMONTON TRAIL NE

16TH AVE NE

BRIDGELAND MEM

ORIA

BOW

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NE

RIVE

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47

VIEW OUR MAGAZINES ON ANY

DIGITAL DEVICE anytime, anywhere!

Now you can view all New Condo Guide magazines online using any smartphone, tablet or desktop device.

NEWCONDOGUIDE.COM Published by

49

The Pinnacle of

LUXURY A Brand New Magazine Dedicated to High-End Properties in Calgary and Area The only magazine of its kind in Calgary, Luxury Living showcases high-end homes, condos and properties. This is your exclusive opportunity to establish your property as the pinnacle of affluent living.

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51

TO T H E N E W N O R T H

ARRIVE HAPPY Take pride in owning an Arrive townhome because it’s built environmentally responsible – and love it because it can save you money. Our multi-family units feature spacious floor plans with 2 to 4 bedrooms, 2.5 baths, an essential attached garage, with full depth driveway.

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SHOWHOME HOURS MONDAY TO THURSDAY 2PM TO 8PM FRIDAY TO SUNDAY 12PM TO 5PM SHOWHOME ADDRESS FOR BOTH LOCATIONS 104 REDSTONE VIEW NE (OFF REDSTONE WAY)

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newcondoguide.com | VOLUME 17 ISSUE 08 | NEW CONDO GUIDE 53

HOMEBUYERS’ HELP

CONDO HUNTER’S CHECKLIST

When shopping for your dream condo, carry this list with you and take notes to help you remember what you saw, and where!

CONDO #1

CONDO #2

CONDO #3

CONDO #4

Project & address:

Project & address:

Project & address:

Project & address:

Salesperson:

Salesperson:

Salesperson:

Salesperson:

Phone:

Phone:

Phone:

Phone:

Developer/builder:

Developer/builder:

Developer/builder:

Developer/builder:

Type:

Type:

Type:

Type:

2-storey highrise bungalow

detached conversion townhome

2-storey highrise bungalow

detached conversion townhome

2-storey highrise bungalow

detached conversion townhome

2-storey highrise bungalow

detached conversion townhome

SQ. Footage:

SQ. Footage:

SQ. Footage:

SQ. Footage:

# of bedrooms:

# of bedrooms:

# of bedrooms:

# of bedrooms:

# of bathrooms:

# of bathrooms:

# of bathrooms:

# of bathrooms:

Interior appliances:

Interior appliances:

Interior appliances:

Interior appliances:

Options:

Options:

Options:

Options:

Parking facilities:

Parking facilities:

Parking facilities:

Parking facilities:

Special incentives:

Special incentives:

Special incentives:

Special incentives:

Price:

Price:

Price:

Price:

Down payment:

Down payment:

Down payment:

Down payment:

Condo fees:

Condo fees:

Condo fees:

Condo fees:

Financing available:

Financing available:

Financing available:

Financing available:

Other comments:

Other comments:

Other comments:

Other comments:

54 NEW CONDO GUIDE | VOLUME 17 ISSUE 08 | newcondoguide.com

HOMEBUYERS’ HELP

CONDO BUYERS’ RESOURCE SECTION YOU LOVE THE CONDO, SEE WHAT YOU CAN AFFORD! Compare mortgage rates for your best deal alculate your mortgage payments using the mortgage C payment calculation chart

55

HOMEBUYERS’ HELP

YOU LOVE THE CONDO, SEE WHAT YOU CAN AFFORD! INTEREST RATES

CALCULATE YOUR MORTGAGE PAYMENTS

AMORTIZATION PERIODS

% 5 YEARS

10 YEARS

15 YEARS

20 YEARS

25 YEARS

3.00 17.96 9.65 6.91 5.54 4.73

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

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

FOLLOW THESE STEPS TO SEE IF YOU’LL QUALIFY FOR A MORTGAGE ON YOUR DREAM CONDO

01

Calculate the combined monthly before-tax income of you and your spouse.

Multiply this figure by the amount you need to borrow.

Divide by 1,000.

02

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

06

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

03

07

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 on the opposite page. 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.)

05

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.

56 NEW CONDO GUIDE | VOLUME 17 ISSUE 08 | newcondoguide.com

COMPARE MORTGAGE RATES FOR YOUR BEST DEAL 2 YEARS

3 YEARS

4 YEARS

5 YEARS

ATB Financial

VARIABLE

2.700

6 MONTHS

4.000

1 YEAR

2.940

2.890

2.990

3.040

3.290

Bank of Montreal (BMO)

3.000

4.000

3.140

3.040

3.850

4.390

4.990

Bank of Nova Scotia

3.100

4.550

3.290

3.140

3.440

3.940

4.790

Bridgewater Bank

-

-

4.800

4.700

5.250

-

5.250

CIBC Mortgages

3.000

4.450

3.090

3.040

3.750

4.240

4.990

Canadian Western Bank

3.200

4.000

3.140

3.040

3.750

4.390

4.990

Canadian Western Trust

3.200

4.000

3.140

3.040

3.750

4.390

4.990

First Calgary Financial

-

4.000

2.890

2.890

3.190

3.390

3.290

First National Financial

2.500

3.950

2.990

2.590

2.790

2.770

3.090

Home Trust Company

2.500

3.950

2.890

2.890

2.790

2.940

3.040

ICICI Bank Canada

3.050

-

3.150

3.650

3.640

3.690

3.890

Investors Group Trust

3.000

4.200

3.140

3.140

3.750

4.640

4.990

London Life

3.000

4.200

3.140

3.140

3.750

4.640

4.990

Manulife Bank

2.700

4.450

3.000

3.050

3.100

3.140

3.190

Manulife Trust

-

4.450

3.000

3.050

3.100

3.140

3.190

Meridian Credit Union

2.600

4.000

3.090

3.140

3.650

4.390

2.950

National Bank

3.000

4.400

3.140

3.040

3.750

4.390

4.790

Peace Hills Trust

-

4.500

3.150

3.500

3.950

3.950

3.490

President’s Choice Fin’l

3.000

6.190

3.290

3.040

3.590

3.690

4.090

Royal Bank of Canada

3.000

3.140

3.140

3.040

3.750

4.540

4.940

Servus Credit Union

-

4.000

3.140

3.040

3.750

4.240

4.790

T-D Mortgage

3.000

4.000

3.090

3.040

3.440

3.940

4.790

Tangerine

3.000 -

3.190 3.240 3.490 3.690 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

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.

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.

INSURED OR HIGH-RATIO 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.

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

newcondoguide.com | VOLUME 17 ISSUE 08 | NEW CONDO GUIDE 57

Index of advertisers

read more about our advertisers!

Albert Park Station

Carlisle Group

Alex

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34

Arrive at Redstone

Partners Developments

52

Avenue

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Bridgeland Crossing

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4

Canoe

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2

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38

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Emerald Sky

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32-33

Evolution

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The Gates

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14

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Heartland Townhomes

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Legacy Gate

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51

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Willow

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Zen

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Jayman Group of Companies Avira Ebony Overture

The Rise Trinity

58 NEW Condo Guide | Volume 17 issue 08 | newcondoguide.com

Pullout Insert

32-33

1, 11-13, 59

32-33

32-33 36-37, 39

32-33

32-33

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