July 24 - Aug 21, 2015 Volume 18 Issue 8
1, 2 and 3 bedroom condos starting from the
$170’s (plus GST)
Stylishly Affordable Now selling in the established southeast community of Cranston!
INSIDE THIS ISSUE
10 REASONS TO LOVE ALBERTA!
SOME THOUGHTS ON BUYING NEW VERSUS RESALE
CALGARY HOME SALES STEADY AS SHE GOES
BUILDING FOUR NOW RELEASED
CHBA - Calgary Region
2012
Building One is sold out, few units remain in Building Two and Building Three is selling fast. Make your move today and make your dream a reality at Champagne – Calgary’s only pre-cast concrete residences with exceptional designer finishings and premium riverside location.
790 - 1125 SQ. FT. ONE BEDROOMS FROM THE LOW $300S 1220 - 1695 SQ. FT. TWO BEDROOMS FROM THE LOW $500S Presentation Gallery - 350 Quarry Park Blvd SE Mon. to Thur. - Noon to 8pm • Fri - Closed • Sat & Sun - Noon to 5pm
re m i n gt on c or p. c om • 403 . 930. 6900 How did engineering protect Quarry Park from the Flood of 2013? Visit our Presentation Gallery to learn more.
40K
SAVE $ UP TO
ON QUICK-POSSESSION CONDOS IN CRANSTON RIDGE
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MON – THUR: 2 PM – 8 PM
*
WEEKENDS & HOLIDAYS: NOON – 5 PM
/ MO.
CLOSED FRIDAYS
CRANSTON MARKET
CRANSTON AVE
CRANBERRY RD
CRANSTON DR
CRANSTON AVE
SETON BLVD DEERFOOT TRAIL
JUDY-LYNN LAVELLE: 403.457.2670
and the Bow River
CRANARCH RD
269,900 $ 1,173
$
natural light • Walk to Fish Creek Park
CRANFORD DR CRANSTON GT
SALES CENTRE: 522 CRANFORD DR SE
INCL. GST
OR JUST
• Large windows for
Visit our sales centre to learn more.
897 SQ FT - 1,038 SQ FT
STARTING FROM
• 17,000 sq ft courtyard park
layouts up to 1,038 sq ft • Surrounded by amenities and attractions • 9-foot ceilings
CRANSTON RD
FULLY UPGRADED MOVE-IN READY CONDOS
• Spacious 2 brdm/2 bath
SOUTH HEALTH CAMPUS
CRANSTON RIDGE
* Based on a 5-year mortgage at 2.69% with only 5% deposit. Condo fees not included. Prices and rates subject to change without notice. Subject to availability. Copyright © 2015 Cardel Lifestyles. All rights reserved. New Homebuyers Choice Award, 50-149 Possessions, Multi-Family, as awarded by CustomerInsight and the Professional Home Builders Institute, presented at the 2014 SAM Awards.
Built for real life. CARDELCONDOS.COM
2015 ALBERTA REGIONAL WINNER Suppor ted by
WINNER OF THE NEW HOMEBUYERS CHOICE AWARDTM
CL-DM-2436 Cranston Ridge Condo Guide_Move in this Summer Event_7.5x10.5.indd 1
3
2015-07-08 2:35 PM
All the others
are green with envy up to
$25,000 * in savings
2 & 3 Bedroom Townhomes
from $359,900 The estate community of Sherwood is proud to welcome The Timbers. With brilliant interior finishes, a park in your front yard and a tranquil ravine in your backyard, The Timbers is the envy of all. Come be a part of the best location in the Northwest. Visit our Presentation Centre today!
PRESENTATION CENTRE 922 SHERWOOD BLVD CALGARY Mon to Thurs – 2pm to 8pm Friday – By Appointment Only Sat & Sun – 12pm to 5pm
gablecraft.ca/thetimbers
403.456.2328 Artistic rendering only. Pricing and availability are subject to change without notice. The developer reserve the right to make changes to the information contained herein. E.&O.E *Limited time only. See Sales Representative for Details.
4
5
INNER CITY
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NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 08 | NEW CONDO GUIDE 7
CONTENTS
JULY 24 – AUGUST 21, 2015
VOLUME 18
ISSUE 08
COVER STORY
11
Streetside’s Origins at Cranston attracting huge interest by Heather Ryan
COLUMNS / NEWS / FEATURES 10 Editor’s Note 20 Contemplating Condominiums Some thoughts on buying brand new versus resale by Linda Palfi
22 In The News Avalon Master Builder announces innovative supplemental solar power for new Zen Community 28 In The News Housing starts spike in the Prairies
32 Calgaryism 10 reasons to love Alberta by Cody Battershill
34 In The News Calgary home sales steady as she goes by Lydia McNutt
36 In The News Bank of Canada lowers key lending rate to 0.5 per cent 44 Quick Tips 3 organizing myths, busted! by Hellen Buttigieg
48 Hot Topic 10 mistakes homebuyers make and how to avoid them by Marnie Bennett
54
Advertiser Index
55
Condo Buyer’s Resource Section You love the condo, see what you can afford!
PRESIDENT, YELLOW PAGES NEXTHOME
Jacqueline Hill EDITOR-IN-CHIEF / DIRECTOR OF CONTENT
Susan Legge DIRECTOR OF SALES
PROJECT LOCATION MAPS
Moe Lalani SENIOR SALES MANAGER, WESTERN CANADA
15 Southeast Map
37 Northwest Map
25 Satellite Communities
43 Inner City
31 Southwest Map
53 Northeast Map
Edwin Rizarri ART DIRECTOR
Daiana Garay EDITOR
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
16 LEGACY PARK by Brad Remington Homes Brad Remington continues to ‘Love It, Live It, Afford It’ with Legacy Park By Heather Ryan
Published by
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
26 BROOKSIDE AT BAYSPRINGS by Merge Developments Brookside at Baysprings presents livability and affordability By Heather Ryan
publication and prevents reproduction in whole or in part; offenders will be prosecuted. We reserve the right to refuse any advertising, to make changes or edit advertising as necessary. Care will be taken to ensure copy accuracy but no warranty is implied or given by the publisher. The publication, the publisher and the printers shall not be responsible for any typographical errors, mistakes, misprints, spot colouring or any information or lack of information furnished by the advertisers. COPYRIGHT 2015 Copyright covers the contents of this publication and prevents reproduction in whole or in part; offenders will be prosecuted. We reserve the right to refuse any advertising, to make changes or edit advertising as necessary. Care will be taken to ensure copy accuracy but no warranty is implied or given by the publisher. The publication, the publisher and the printers shall not be responsible for any typographical errors, mistakes, misprints, spot colouring or any information or lack of information furnished by the advertisers. Yellow Pages NextHome is a trademark of Yellow Pages Group Co. in Canada. EDITORIAL Submissions from interested parties will be considered. Please submit to Susan.Legge@ypnexthome.ca The views and data expressed by columnists do not necessarily represent those of the publication
Please recycle this magazine! Yellow Pages NextHome participates in the Partner’s In Growth Reforestation Program through St. Joseph Communications. To date, Partners in Growth has planted over two million trees in parks, recreation and conservation areas, and other public spaces across Canada. Established in 1990, this program was started with Scouts Canada to help replenish the environment.
EDITORS’ NOTE
GET IT IN WRITING
SUSAN LEGGE Editor-in-chief
Susan.Legge@ypnexthome.ca Follow me on Twitter at Twitter.com/SusanLegge Like us on Facebook Search: Condo Guide
Buying a brand-new condo offers an opportunity to get the home you really want. It can be a dream come true and an investment for the future, but don’t forget, it’s also a legal transaction. The term “get it in writing” has never been more important, since it outlines everything your new home will have in it, on it and around it. Otherwise known as the Agreement of Purchase and Sale, the contract spells out the terms between you and your developer and/or builder. Without it, if there is a misunderstanding or disagreement, it’s impossible to prove what was originally promised. Since buying a new condo is much more complicated than a resale transaction where the property likely already exists, there is no set Agreement of Purchase and Sale or standard contract. In some provinces, builders may have standard contracts prepared by the local home builders’ association or their new-home warranty program. Builders often prepare their own agreements, so these can vary from one company to another and from province to province. Before you sign a contract, review it carefully with the builder representative, and ask questions to make sure you fully understand what’s in it. Your next step is to then take it to a real estate lawyer and have it reviewed. Once it is signed, it becomes a legal document, so seeking the services of an experienced lawyer is an important step toward ensuring that your dream home becomes a reality.
WHY IT MAY NOT PAY TO PUT OFF YOUR PURCHASE
LYDIA MCNUTT Editor
Lydia.McNutt@ypnexthome.ca Follow me on Twitter at Twitter.com/LydiasTweets
Home sales in the Calgary area have been steady, despite the gloom-anddoom predictions for the real estate market earlier this year. There were 2,183 transactions in June, according to the latest figures released by the Calgary Real Estate Board – only five per cent below the 10-year average for June, and three per cent above levels over the past five years, despite an 18-per-cent year-over-year decline. What does this say about the state of the housing market? Homebuyers who have been waiting for the sky to fall (along with oil and real estate prices) haven’t seen that worst-case scenario play out, and are now focusing on the silver lining of that dark cloud – plenty of pickings, and low interest rates. As we go to press, the Bank of Canada just announced that it is dropping its key lending rate to 0.5 per cent, and the big banks quickly followed suit. This is great news for homebuyers and homeowners who are who’s mortgage agreements are coming up for renewal. For those sitting at a variable rate, now would be a good time to lock in. Even a fraction of a percentage point on your interest rate can translate to thousands of dollars over the life of your mortgage. But know that sooner or later, interest rates will rise again, as will housing prices. If you’ve been among those thinking about buying a home, what are you waiting for? You could be missing out on a prime purchasing opportunity.
10 NEW CONDO GUIDE | VOLUME 18 ISSUE 08 | NewHomeAndCondoGuide.ca
COVER STORY
Streetside’s Origins at Cranston attracting huge interest By Heather Ryan CONTEMPORARY DESIGNS, terrific features and an affordable price tag are luring buyers to Streetside Developments’ newest project in southeast Calgary’s popular and well-established community of Cranston. Streetside is building the final piece of the puzzle to complete Origins at Cranston, and will be adding a three-storey apartmentstyle condo complex with 68 homes to the existing development that includes a mix of apartment condos and townhomes.
“We’re excited to launch this project with revised floor plans and finishings from the first offering at Origins,” says Kimberley Orr, senior marketing co-ordinator. “We opened our sales centre on June 20 and we’ve actually had people from the first building interested in this new one, because they liked our floor plan layouts and standard interior finishings so much. “We’re getting a huge amount of interest in Origins and these homes have been selling quickly,” Orr adds. “Despite it being summer with a slight slowdown in the economy, we have not seen that with Origins. Traffic is consistently high and registrations on our website are just as high.” Origins at Cranston, located in the popular community of Cranston, offers one-, two- and three-bedroom open-concept homes ranging from 615 to 1,255 sq. ft. with extremely affordable prices starting from the $170,000s (plus GST). Possessions are slated for late 2016. “Each home is efficiently designed to maximize space and offer large-sized bedrooms and balcony off living area,” Orr notes. “All feature a spacious island with eating bar and large walk-in closets in the master bedroom.” 11
“This project will be extremely attractive to first-time homebuyers, as they will have an opportunity to enter the market at very affordable prices with appealing and stylish standard features, and floor plans that are functional and generous in size” VICE-PRESIDENT RICHARD DALEY
12 NEW CONDO GUIDE | VOLUME 18 ISSUE 08 | NewHomeAndCondoGuide.ca
The stylish interior standard appointments include nine-ft. ceilings, stainless steel appliances, full-height tile backsplash, luxury vinyl plank floors, designer lighting packages, Moen faucets and window coverings. Buyers can also choose from two contemporary designer palettes plus many designer upgrades. “This project will be extremely attractive to first-time homebuyers, as they will have an opportunity to enter the market at very affordable prices with appealing and stylish standard features, and floor plans that are functional and generous in size,” says vice-president Richard Daley. “With interest rates still remaining at historically low rates, homeownership is still within reach for many buyers out there.” To learn more about Origins at Cranston visit the sales centre at 111, 100 Cranfield Common S.E., open Monday to Thursday, 2 to 8 p.m.; and weekend and holidays, noon to 5 p.m. Call 403.475.2181 or visit, originscondos.ca. Streetside is also thrilled to have just launched on June 6 its highly anticipated Vivace project, which offers luxurious apartment-style condominiums and townhomes located in Calgary’s sought-after west end in West Springs. Vivace encompasses the perfect fusion of amenities, premium design features, contemporary building design and an unmatched lifestyle opportunity. Condos are priced from the $270,000s (plus GST) and townhomes from the $500,000s (plus GST). Vivace is a joint venture project between Streetside and Brimor. Sales are brisk as the project is already 25 per cent sold out, and in high demand. As well, Streetside is poised to launch a unique innercity project – Killarney Townes – on August 8. Killarney Townes is an eclectic mix of 20 homes in five distinct building designs, four per building designed to look like large infill homes. Priced from the low $600,000s and complemented by unique floor plan designs and upscale luxurious finishings, this project is a must see. The showhome grand opening is on Sat., Aug. 8, 2015. Finally, Streetside boasts its beautiful, architecturally designed Hunter House project. Hunter House is a collection of stacked bungalows and executive-style townhomes in the beautiful southwest community of Silverado. All present exclusive high-end finishings and double-car garages with full driveways. The project is 50 per cent sold with prices for townhomes starting at $399,900 (including GST), and stacked bungalows from the $500,000s (including GST).
More information on these projects can be found at streetsidehomes.com NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 08 | NEW CONDO GUIDE 13
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F RI
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32 Ave
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36 STREET
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13 H ARVEST MOSAIC CRANSTON BY BROOKFIELD RESIDENTIAL
ANDERSON ROAD
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AIL
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17 M OSAIC MIRAGE BY BROOKFIELD RESIDENTIAL 347 MacKenzie Towne Gate
MAHOGANY
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COPPERFIELD
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D TR
VITT
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6 Mahogany Terrace SE
TR
Mac
S JAME
17 RN OF LO RQUIS
CHAPARRAL
LEGACY
16 SANDGATE
02 11
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PAR K
116 Quarry Park Way SE
52 Legacy Gate SE
NEW BRIGHTON
TTO BO
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290 Cranford Drive SE
14 B OULEVARD TOWNES BY BIRCHWOOD 15 L IVINGSTONE TOWNES BY TRICO COMMUNITIES
OOT T RAIL
W BO
08 CR21
84 STREET
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52 STREET
09
BARLOW TRAIL
19 18
SHAWNESSY BLVD.
646 Copperwood Blvd SE
12 E BONY BY JAYMAN MODUS
GLENMORE TRAIL
SOUTHLAND DRIVE
FISH
11 C HALET NO. 6 BY HOPEWELL
211 Mahogany Way
MacLEOD TRAIL
GLENMORE RESERVOIR
17 Ave
BLACKFOOT TRAIL
17 Ave
D. BLV
18 T HE GATES BY REMINGTON DEVELOPMENT CORPORATION Presentation Centre: 350 Quarry Park Blvd SE
19 C HAMPAGNE BY REMINGTON DEVELOPMENTCORPORATION
25
Quarry Park Blvd SE remingtoncorp.com
01 C RANSTON RIDGE BY CARDEL LIFESTYLES
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 RESIDENTIAL 65 Auburn Meadows Way
05 L EGACY STREET TOWNS BY HOMES BY AVI 42 Legacy Blvd SE
06 C RANSTON BY AVALON MASTER BUILDER
20 C RANSTON PLACE BY CARDEL LIFESTYLES
07 A UBURN WALK BY CARDEL LIFESTYLES
21 A LTURE MIDCITY BY ALTURE PROPERTIES
08 THE MORELLO
22 M AHOGANY STREET TOWNS BY HOMES BY AVI
442 Cranford Park SE
Showsuite and Sales Centre Corner of 52nd Street and Auburn Meadows Dr. SE
09 B RISTOL TOWNHOMES BY BIRCHWOOD NOW SELLING 232 Quarry Park Blvd. SE
103 Auburn Meadows Dr.
15233 1 Street Southeast midcitymidnapore.ca 13 Marine Dr SE
15207 1st SE themorello.ca
10 C ANOE BY AVI URBAN
302 Cranston Road SE
23 L EGACY PARK BY BRAD REMINGTON HOMES Register at: mylegacypark.ca
24 J ACKSON BY AVI URBAN
Coming soon to Walden
25 R IVERSTONE MOSAIC BY BROOKFIELD RESIDENTIAL 98 Cranbrook Dr. SE
$100’s
CONDOS FROM THE MID
www.copperfieldpark.com 403.723.0094
CONDO PROFILE
BRAD REMINGTON CONTINUES TO ‘LOVE IT, LIVE IT, AFFORD IT’ with Legacy Park By Heather Ryan
H
ot on the heels of its amazingly successful Copperfield Park trilogy, Brad Remington Homes has launched a new chapter of its “Love It, Live It, Afford It” legacy with the new condo development of Legacy Park. “We’re extremely excited to launch 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 at Brad Remington Homes. Legacy Park will be created in two parts, with the first phase consisting of four, four-storey buildings. “We have an information centre open on site where potential customers have 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.”
16 NEW CONDO GUIDE | VOLUME 18 ISSUE 08 | NewHomeAndCondoGuide.ca
Brad Remington Homes is committed to creating high-quality, affordable homes and Legacy Park features one-bedroom, two- and three-bedroom designs starting from an exceptional price in the low $100,000s, providing buyers with the opportunity to “Afford It.” “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 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,” he 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 or quartz countertops, nine-ft. ceilings, an appliance package that includes a fridge, stove, dishwasher and over-the-range microwave, premium cabinetry with soft-close doors and drawers, in-suite laundry with washer and dryer, knockdown ceilings, and private balconies or patios. Residents can also customize their homes with a full range of options, allowing buyers to “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 southcentral 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 the website at mylegacypark.com. 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 08 | NEW CONDO GUIDE 17
The ‘Wanderlust’ Stage. If this is where you’re at in life, the Servus Life Stage Mortgage can give you a little extra money to chase down the adventure of a lifetime close to home or on the other side of the globe. See how you can own a home in any stage of life. Visit servus.ca/mortgages. MORTGAGE RATE
1% LIFE STAGE REBATE
PROFIT SHARE
Personal | Mortgages | Investments | Loans | Insurance | Business 18
Feel good about your money.
SOUTHEAST
MAP NOT TO SCALE
CONTEMPLATING CONDOMINIUMS
Some thoughts on buying brand new versus resale By Linda Palfi
T
here’s nothing like moving into a brand-spanking new home, be it a single-family house or a condominium apartment, townhouse or villa. Clean and modern, it has everything you ordered and in exactly the colours you chose for yourself. Mighty nice! Then again, you may not be able to afford new construction. Perhaps no housing of the style you require is being built in the neighbourhood you need or choose to live in. Or maybe you simply can’t determine which is the better value for future resale. Let’s examine the considerations in this choice. • New construction can carry a 4.48-per-cent net GST cost after the builder gets the tax input rebate. Some developers roll the GST into the advertised price, while some list it separately. For uniform comparison, you should ensure all your prices include the GST. For a price-per-square-foot comparison among projects, and to pre-owned condos, divide asking price (including GST) by the square footage to arrive at the dollar cost per square foot. • A pre-construction purchase can save you money, because builders often discount prices to those initial buyers who lay down some cash and must wait for occupancy, and help the builder show the construction lender that there is market demand. Yet do you really want to wait 12 or 18 months to move in? As well, a minority of these projects never proceed, which gets you your deposit back, but that’s about all. In some projects, marketing is aimed at investor owners, not future resident-owners, so keep in mind you may end up living in a largely rental building. • A pre-construction purchase can yield a tidy profit for an investor in a popular project who sells at completion when demand is high and the developer has largely sold out of homes. But in cases where units remain available, or when there are further phases being built, resale buyers may not be interested in a near-new unit when they can get an absolutely brand-new one next door for the same price. 20 NEW CONDO GUIDE | VOLUME 18 ISSUE 08 | NewHomeAndCondoGuide.ca
• An alternative to brand-new or resale condominiums is a “conversion,” in which an older rental building is converted to condominium ownership, and major renovations are done to the building. These are more common in older neighbourhoods than in newer districts. These can also give you the sheen of new interiors, yet the price discount – and some of the practical realities – of an older building. Note that GST is usually not chargeable on conversion projects. If you want guidance through the labyrinth of options, let a condominium-qualified real estate agent be your guide. As a buyer, it costs you nothing to employ a professional, as his/her fee is included in the sale price in almost every case. Some realtors will also prepare or pay for a condominium documents analysis before you finally buy your new condo home regardless of whether it is brand-new or resale.
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
SOUTHEAST
IN THE NEWS
Avalon Master Builder announces innovative supplemental solar power for new Zen Community
A
valon Master Builder is proud to announce a new Zen community to be built in Cranston. The 66-townhome project will include supplemental solar energy for superior energy savings. Two solar panels will be standard with each two-storey townhome with an option to add more. For greater energy efficiency, a double wall system will eliminate hear loss and increase thermal performance. What does this mean for homeowners? It means being able to constantly run a fridge for 13 months at no charge, or a washing machine for 48 months. Solar power can generate substantial savings, indeed. The developer, Brookfield Residential Alberta and Avalon Master Builder have enjoyed a close partnership for more than a decade, and Jessie Seymour, Brookfield Residential’s senior customer relations manager for Calgary is thrilled to see this project come to fruition. “We have always appreciated Avalon’s commitment to building energyefficient homes and fully support this bold move to provide an energy alternative,” says Seymour, “Using solar is energy efficient and wallet-wise, helping offset homeowner’s household utility costs.” Possessions for the project will begin in winter of 2015.
The innovative complement of solar panels is a natural next step in meeting Avalon’s vision to design and build net=zero homes at no additional cost to the homeowner. Net-zero homes help save out environment and reduce energy costs while creating better, healthier living for all. This is the sixth Zen project in the series of Zen communities, continuing its legacy to provide energy-efficient, stylish and affordable homes that are built to last for generations. For more information, visit avalonmasterbuilder.com
22 NEW CONDO GUIDE | VOLUME 18 ISSUE 08 | NewHomeAndCondoGuide.ca
ZenC
SATELLITE COMMUNITY
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AIRDRIE 04
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10 12 15
13 14
06
24 Sunset Rd. Cochrane, Alberta
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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 08 | NEW CONDO GUIDE 25
CONDO PROFILE
BROOKSIDE AT BAYSPRINGS PRESENTS LIVABILITY AND AFFORDABILITY By Heather Ryan
I
f you desire the livability, soughtafter features and spaciousness of a single-family home with the convenience of a maintenance-free lifestyle, all at a price that fits your budget, then you’ll adore Brookside at Baysprings. Being crafted by Merge Developments Corp., Brookside at Baysprings is a private enclave of 57 street-oriented, two-storey townhomes with double detached garages in the beautiful adjoining community of Bayside in southwest Airdrie.
“Brookside at Baysprings offers buyers a unique opportunity because the homes are quite large and include a fully fenced, landscaped yard, double garage off a paved rear lane and a full basement,” says Rick Spooner, Merge’s president and operating partner. “They offer a lot of functionality and start in the mid-$300,000s, so they’re affordable and a great value.” Merge launched sales at Brookside in March and has had a terrific response from buyers who appreciate getting all the terrific features of a single-family home, such as large kitchens, bonus rooms, upstairs laundry and ensuites, while not having to mow the lawn or shovel snow. “We’re actually getting a number of buyers who are downsizing because they have a lot of furniture and, with the size of these homes, they don’t have to part with it. Plus, they can lock it and leave it for a few months without having to worry about maintenance,” Spooner says. “Also, most of our buyers have pets so they love having a private fenced yard.”
Buyers can personalize their homes by choosing from different colour schemes and upgraded options such as hardwood floors and granite countertops Brookside presents two models each with 1,670 sq. ft. of developed living space. “The Slate has a midkitchen so the entertainment and dining space are separate and it has a huge island, while the Tyndall has a rear kitchen creating a spacious open-concept design,” he says. Both models offer three options for the second floor: three bedrooms and a bonus room; three bedrooms with an upgraded ensuite; and dual masters with a bonus room. All three options include upstairs laundry. Merge also provides an optional basement design, which includes an additional bedroom, bathroom and family room. The townhomes feature wellappointed interiors including an Energy Star appliance package, islands with bar seating, full-height ceramic tile backsplash, front-load washer and dryer, gas-line hook-up for the barbecue, and a 92-per-cent high-efficiency forced-air gas furnace. As an added value, the homes come with Telus Fibre Optic Network and free Optik TV and Internet for one year. Buyers can also personalize their homes by choosing from different colour schemes and upgraded options such as hardwood floors and granite countertops. The double detached garage is heat ready, being fully insulated and drywalled, and includes a gas line,
thermostat pre-wire and 60-amp panel. Brookside also presents attractive exteriors with a combination of HardiePanel, vinyl siding and Smartboard, as well as charming front porches and stone detailing. The property will be landscaped and it’s just steps from a landscaped park and meandering brook. Meanwhile, Bayside itself follows alongside a network of waterway canals, with numerous parks, walking and bike paths and a five-acre pond that combine to create a tranquil atmosphere where residents can unwind after a hectic day. An elementary school is already in place in the community, and residents are minutes from a wide range of shops, services and other amenities in Airdrie. Brookside residents also have quick, convenient access to Yankee Valley Boulevard, are minutes to CrossIron Mills mall and have easy access to commuter routes (QE2 and Stoney Trail) and the airport. Brookside has spec homes available for quick possessions and pre-sale homes.
For more information, visit the showhomes, open Monday to Thursday, 2 to 8 p.m.; and weekends and holidays, noon to 5 p.m. Call 403.980.8909 or visit brooksideatbaysprings.com NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 08 | NEW CONDO GUIDE 27
IN THE NEWS
Housing starts spike in the Prairies
T
he lazy days of summer have been anything but quiet on construction sites across Canada – particularly in the Prairie provinces, where housing starts spiked to 48,384 units in June, up from 37,889 in May, according to Canada Mortgage and Housing Corp. (CMHC). Nationally, starts reached 183,959 units in June versus 179,908 the month prior. CMHC attributes the increase to a boost in condo construction, counteracting the drop in single-detached starts. “The trend in housing starts increased this month as multiple starts trended upward, offsetting a downward trend in single-detached home starts,” says Bob Dugan, CMHC’s chief economist. “The rise in the trend of multiple starts reflects a 53-per-cent increase in seasonally adjusted multiple starts from February to June 2015. Seasonally adjusted multiple starts are at their highest level since September 2012, but are expected to moderate over the coming months.”
CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for 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 greatly from month to month. The standalone monthly SAAR was 202,818 units in June, up from 196,981 units in May. The SAAR of urban starts increased by 3.2 per cent in June to 188,720 units. Multi-unit urban starts increased by 3.7 per cent to 130,933 units in June, while the single-detached urban starts segment increased by 2.0 per cent to 57,787 units. In June, the seasonally adjusted annual rate of urban starts increased in British Columbia, Québec, the Prairies and Atlantic Canada, while it decreased in Ontario. Rural starts were estimated at a seasonally adjusted annual rate of 14,098 units.
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 28 NEW CONDO GUIDE | VOLUME 18 ISSUE 08 | NewHomeAndCondoGuide.ca
ZenR
ZenRavens CG20150710.indd 1
9/7/15 12:45:26
Sometimes you can get a double car garage in a townhome , but it’s tandem — we were really happy with a side-by-side garage! – Shayley J.-V. Hunter House Townhome Owner
50% SOLD OUT!
Premium Features • Full size double car garage with driveway • 42” Height maple kitchen cabinetry and granite or quartz countertops • Stainless steel appliance package • Large terraces and balconies for outdoor entertaining
BEDROOM
DINING
TERRACE
BEDROOM
10'-2" x 12'-6"
MASTER BEDROOM
10'-3" x 8'-11"
8’-8” x 11'-7"
14-0" x 10'-10"
104 ft²
W.I.C.
PANTRY LINEN
GARAGE 19'-4" x 20'-0"
W/D
W/C
UP
ENTRY
DN
6'-0" x 6'-0"
6'-11" x 4'-5"
UNDEVELOPED
W.I.C.
UP
12'-0" x 12'-0"
UP
LIVING
DN
MASTER BEDROOM 12'-0" x 10'-6"
30
MASTER BEDROOM DN
12'-0" x 13'-4"
OPTIONAL FIREPLACE
BALCONY
Main Floor
DN
LINEN
12'-0" x 12'-0"
Second Floor
Townhome B2 floor plan shown
• Sought-after southwest address in the established community of Silverado • Immediate possessions available
9'-0" x 10'-6"
MECH DN
UP
ENSUITE
W.I.C.
ENSUITE
KITCHEN
W/C
ENSUITE
• Stunning HardiePlank clad exteriors with Tudor-inspired architectural details
BALCONY
Third Floor
Third Floor
(3 Bedroom option)
(Double master option)
134 Silverado Plains Park SW | Mon - Wed 2pm - 8pm | Sat - Sun 12pm - 5pm HunterHouseLiving.com | 403.240.4664
DE
TR AIL SH AG AN NA PI
DR .
T R AI
NO SE
HIL L
EY STON
JO
L
HN CR LA OW UR IE CH BLV ILD D. TR AIL
CALGARY INTERNATIONAL AIRPORT
64 Ave
16 AVENUE
TRA
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36 STREET
17 Ave
14
02
07
08
05 15 11
09
GLENMORE RESERVOIR
Presentation Centre: 2719 14th St. SW
DEERF
OOT T
98 Mission Road SW mission34.ca
10 VIVACE BY STREETSIDE DEVELOPMENTS
Presentation Centre: 2118, 8561-8A Ave. SE
Sales Centre in Currie Barracks J5, 2953 Battleford Ave. SW
M TR AIL
AIL D TR LEO SHERIFF KING ST. SW
194 AVE
09 MISSION 34 BY ASSURED COMMUNITIES
11 JUNO BY AVI URBAN
TTO BO
EK P ARK
Mac
VITT
McKE 01
RAIL
W BO
CRE
SHAWNESSY BLVD.
Register at: mylegacypark.ca
08 ALEX BY ASSURED COMMUNITIES
ANDERSON ROAD
12
06 LEGACY PARK BY BRAD REMINGTON
2712 17th St. SW
SOUTHLAND DRIVE
FISH
Sales Centre Now Open in Currie Barracks
07 GLAS BY AVALON
BARLOW TRAIL
ORE
771 Patrick St. S.W.
03
13
04 THE LANDINGS BY STATESMAN
05 OVERTURE IV E BY JAYMAN MODUS DR
MacLEOD TRAIL
NM
16 AVENUE
ME M O R I AL
37 STREET
GLE
69 STREET
85 STREET
10
VE
SARCEE TRAIL
4
BLACKFOOT TRAIL
OLD BANFF COACH ROAD
32 Ave
EDMONTON TRAIL
E
14 STREET
ENU
ELBOW DRI
16 A V
CENTRE STREET
SOUTHWEST COMMUNITIES
S JAME
e
NOSE HILL PARK
NE F LOR UIS O
MARQ 06
01 HUNTER HOUSE BY STREETSIDE DEVELOPMENT
1020 194th Ave S.W. www.hunterhouseliving.com
02 BROOKLYN CONDOMINIUMS BY TRICO HOMES
1710-28 Ave. SW www.brooklyncondos.ca
03 OVATION BY INTERGULF CIDEX
TRAIL
12 SANDERSON RIDGE OF FISH CREEK PARK BY TELSEC 2330 Fish Creek Blvd. SW www.sanderson-ridge.ca
13 ALTADORE 36 BY BROOKFIELD RESIDENTIAL
36th St. & 16th Ave SW Register Now www.altadore36.com
14 MAX TOWNHOMES BY ASSURED DEVELOPMENTS 1605 25 Ave SW
15 THE ARMORY BY COVE PROPERTIES Currie Barracks
#2105, 99 Spruce Place S.W.
COMING SOON! Register today! www.mylegacypark.com 403.931.8558 NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 08 | NEW CONDO GUIDE 31
CALGARYISM
10 reasons to love Alberta By Cody Battershill
F
rom the boreal forests in the north to the grass lands in the south, the park lands in the east to the foothills and mountains in the west, Alberta’s beauty is expansive and radiates like a shining light anywhere you’ll go. As a born and raised Albertan, here are 10 reasons to love our land: 1. Rocky Mountains Alberta’s Rocky Mountains offer soaring peaks, lush alpine forests, crystalblue lakes and majestic wildlife. More than half of our province's population lives within a threehours drive, and they can discover protected provincial and national parks such as: » Banff National Park » Jasper National Park » Kananaskis Country » Waterton Lakes National Park 2. World-class ski resorts Did you know that there are eight ski resorts in the Alberta Rockies, five of which are considered to be "worldclass?" With popular resorts such as Lake Louise and Sunshine, many Albertans don’t fear winter – we embrace it! 3. Dry winters Alberta winters are bone-dry, making it much easier to warm up when returning inside from the deep freeze. 4. Lots of sunshine Alberta is considered one of the sunniest provinces in Canada year round. Calgary receives 52 per cent sunshine over 333 days, Edmonton 50 per cent over 325 days.
5. Chinooks The southern part of the province experiences a weather phenomenon called Chinooks – warm gusts of wind that can warm up a cold snowy day by 20ºC and melt those winter blues away.
» Between 2004 and 2014, Alberta`s commodity exports grew by 91 per cent to $121 billion » In 2014, Alberta's unemployment rate was 4.7 per cent – the second lowest in Canada
6. Population diversity Alberta’s population is incredibly diverse, as people not only from other parts of Canada but around the world make the province their home. They bring their culture, food, stories and everything in between, enriching daily life for everyone in the province.
10. Alberta healthcare Albertans can feel secure knowing they can go to a walk-in clinic or emergency reception, and receive medical care for no charge with their health care number.
7. Lifestyle Thousands of people from around Canada and the world move to Alberta, drawn by the high standard of living. We all share a serene natural environment and have the opportunity to enjoy arts, culture and recreation as much as we please.
Do you love Alberta? As a born and raised Calgarian, I have been fortunate enough to live in Alberta for most of my life. Do you happen to share the love I have for this province? If so, I invite you to let us know why by joining us at Calgaryism on Facebook, Instagram and Twitter today and leaving a photo or comment. Hope to see you there!
8. Low taxes Albertans are subject to only a five-per-cent Goods and Services Tax (GST). Compared to other provinces that pay Harmonized Sales Tax (HST) or Provincial Sales Tax (PST) on top of GST, we are pretty fortunate. 9. Strong economy Alberta’s economy is a strong performer: » Between 1994 and 2014, Alberta led Canada in Gross Domestic Product (GDP) growth, creating more than 500,000 jobs » Between 1994 and 2014, Alberta`s manufacturing industry sales grew by 49 per cent to $79 billion
32 NEW CONDO GUIDE | VOLUME 18 ISSUE 08 | NewHomeAndCondoGuide.ca
Cody Battershill is the founder of Calgaryism and a top producing realtor at Re/Max House of Real Estate. Cody has a passion for helping his clients reach their real estate goals and showing off the best Calgary has to offer! He can be reached at 403.370.4180, on Twitter @Calgaryism and Calgaryism.ca
SOUTHWEST
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Suites now available from + GST Combination of one, two or two + den bedrooms.
LRT
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FISH CREEK PROVINCIAL PARK
LAMES MCKEVITT RD SW FISH CREEK BLVD
L MID
162
SHAWNESSY
MIDNAPORE
OD
MEDICAL PARK
AIL
TR
T LR
SHAWNESSY CENTER
SUNDANCE
CLE MA
AVE SW
SE
SOMERSET
MACLEOD TRA STONY TRAIL SE
STONY TRAIL SE
Visit us today at 2330 Fish Creek Blvd Se or visit www.sanderson-ridge.ca for more information
SUNVAL
E AVE S 162
A N DR SW
BRIDLEWOOD
Don’T MiSS oUT on THiS UniqUe oPPorTUniTy
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IG
BLVD S AKE
E
EVERSTONE DR SW
EVERGREEN
MILLRISE SHAWNESSY BLVD SW
SHAWNIGAN DR SW
*Prices are subject to change without notice and do not include GST.
33
IN THE NEWS
Calgary home sales steady as she goes
C
algary home sales and prices are sitting steady, as homebuyers who have been waiting for the sky to fall (along with oil and real estate prices) haven’t seen the worst-case scenario play out, and are now focusing on the silver lining of that dark cloud – plenty of pickings and low interest rates. According to the June stats released by the Calgary Real Estate Board (CREB), transactions numbered 2,183 – only five per cent below the 10-year average for June, and three per cent above levels over the past five years, despite an 18-per-cent year-over-year decline. “Consumers who were waiting for wide-spread price declines have been surprised to see that it just hasn’t happened yet, and so they’ve decided to take advantage of the improved selection and lower lending rates,” says CREB president Corinne Lyall. The level of new listings that came on the market in June totalled 3,122 units, resulting in the second month of elevated absorption rates, which placed downward pressure on inventory levels. The overall months of supply continues to remain balanced, at 2.3 months. With conditions remaining relatively stable in June, there was minimal pressure on home prices. The city-wide benchmark price totalled $455,400, a respective monthly and year-over-year gain of 0.29 and 0.13 per cent. “Even though city-wide prices were essentially unchanged in June, it’s important to note that activity can vary significantly depending on community, property type and price range,” says Lyall. Second quarter results pointed toward more stability in the market. The year-over-year decline in sales activity eased from 32 per cent in the first quarter to 22 per cent in the second quarter. Meanwhile, the level of pullback of new listings outweighed the gains recorded in the first quarter, resulting in a year-to-date decline of nearly eight per cent.
While both sales and new listings have slowed for each property type within the city, the apartment sector continues to report the weakest absorption rates. The weaker rates in this sector are now impacting prices. Despite last month’s improvement in price, the second quarter benchmark price was 0.81 per cent below levels recorded last year and 0.93 per cent below first quarter figures. Year-todate unadjusted apartment averages continue to remain 1.65 per cent above last year’s levels. In the detached segment, benchmark prices totalled $515,500 in June, slightly higher than last month and 0.4 per cent higher than June 2014 prices. Meanwhile, the year-to-date benchmark price for detached properties remained 3.44 per cent above last year’s figures. Against this backdrop, the year-to-date average and median detached home price for Calgary has reported declines of 2.26 and 1.54 per cent citywide. This doesn’t come as a surprise, given that the share of sales activity has declined in the higher price ranges. “The housing market is showing some signs of stability right now,” says CREB chief economist AnnMarie Lurie. “However, there are several risk factors that could influence the market in the second half of the year. Many of these factors will be addressed in CREB’s midyear forecast update, which will be released at the end of July.”
34 NEW CONDO GUIDE | VOLUME 18 ISSUE 08 | NewHomeAndCondoGuide.ca
Viva
SOUTHWEST
35
Vivace_PrintAd_FPCondoGuide_A.indd 1
2015-06-09 1:20 PM
IN THE NEWS
Bank of Canada lowers key lending rate to 0.5 per cent
H
ow low can you go? This summertime limbo lyric applies to more than just the backyard barbecue song and dance. It’s been the question on everyone’s lips in regard to the Bank of Canada‘s benchmark interest rate – and the answer is, “lower!” The Bank dropped its key lending rate to 0.5 per cent, in a bid to stimulate the depressed economy. The drop comes after the Bank shocked everyone by lowering its rate to 0.75 per cent earlier this year, after sitting steady at one per cent nearly five years – all in an effort to shield highly indebted Canadians from the drop in oil prices and its economic impact. Total CPI inflation in Canada has been around one per cent in recent months, reflecting year-over-year price declines for consumer energy products. Core inflation has been close to two per cent, with disinflationary pressures from economic slack being offset by transitory effects of the past depreciation of the Canadian dollar and some sector-specific factors. Setting aside these transitory effects, the Bank judges that the underlying trend in inflation is about 1.5 to 1.7 per cent. Global growth faltered in early 2015, principally in the United States and China. Recent indicators suggest a rebound in the U.S. economy in the second half of this year, and growth is expected to be solid through the projection. In contrast, China is slowing amid an ongoing process of rebalancing to a more sustainable growth path. This has pulled down prices of certain commodities that are important to Canada’s exports. Financial conditions in major economies remain very accommodative and continue to provide much-needed support to economic activity. Global growth is expected to strengthen over the second half of 2015, averaging about three per cent for the year, and accelerate to around 3 1/2 per cent in 2016 and 2017. The Bank’s estimate of growth in Canada in 2015 has been marked down considerably from its April projection. The downward revision reflects further downgrades of business investment plans in the energy sector, as well as weaker-than-expected exports of non-energy commodities and non-commodities. Real GDP is now projected to have contracted modestly in the first half of the year, resulting in higher excess capacity and additional downward pressure on inflation. The Bank expects growth to resume in the third quarter and begin to exceed potential again in the fourth quarter, led by the non-resource sectors
36 NEW CONDO GUIDE | VOLUME 18 ISSUE 08 | NewHomeAndCondoGuide.ca
of Canada’s economy. Outside the energy-producing regions, consumer confidence remains high and labour markets continue to improve. This will support consumption, which will also receive a fiscal boost. Recent evidence suggests a pickup in activity and rising capacity pressures among manufacturers, particularly those that are most sensitive to movements in the Canadian dollar. Financial conditions for households and businesses remain stimulative. The Bank now projects Canada’s real GDP will grow by just over 1 per cent in 2015 and about 2 1/2 per cent in 2016 and 2017. With this revised growth profile, the output gap is significantly larger than was expected in April, and closes somewhat later. The Bank anticipates the economy will return to full capacity and inflation to two per cent on a sustained basis in the first half of 2017. The lower outlook for Canadian growth has increased the downside risks to inflation. While vulnerabilities associated with household imbalances remain elevated and could edge higher, Canada’s economy is undergoing a significant and complex adjustment. Additional monetary stimulus is required at this time to help return the economy to full capacity and inflation sustainably to target.
NORTHWEST COMMUNITIES
TR
AIL
14 ST RE ET
IL FO OT TR A
EDMONTON TRAIL
15 THE GROVES OF VARSITY BY STATESMAN HOMES
5353 Crowchild Trail NW 16 AVENUE
18 SONOMA AT SAGE HILL BY VERTICAL PROPERTIES
E Sage Valley Boulevard IV881 D R www.sonomasagehill.com
ME M O R I AL
36 STREET
21 LIDO BY BATTISTELLA
17 Ave
Sales Centre 1120 Kensington Rd
04 WILLOW AT SHERWOOD BY AVI URBAN Visit Sales Centre at 64 Nolan Hill Gate
05 ARRIVE AT EVANSTON BY PARTNERS DEVELOPMENT GROUP Symons Valley Parkway please call 587-755-1166
06 TRINITY BY JAYMAN MODUS 44 Nolan Hill Blvd. NW GLENMORE RESERVOIR
22 AVIRA BY JAYMAN MODUS Sales Centre located on Evanspark Blvd. NW
BARLOW TRAIL
3503 Sage Hill Drive NW
32 AveBY KNIGHTBRIDGE
BLACKFOOT TRAIL
03 VIRIDIAN BY TRICO HOMES
02 19
ELBOW DRI VE
RE T BY BUCCI RAIL 2nd Ave and 10th St. NW
12 EMERALD SKY BY CARLISLE GROUP 14 UNIVERSITY CITY
21
37 STREET
175 Panatella Hill NW 02 KENSINGTON GLENM O
SARCEE TRAIL
69 STREET
85 STREET
01 PANORAMA WEST BY CARDEL LIFESTYLES
Register today: Ezraonrileypark.com
355 Kincora Glen Rd. NW www.emeraldsky.ca
16 AVENUE 11
11 EZRA ON RILEY PARK BY BIRCHWOOD PROPERTIES
CALGARY INTERNATIONAL AIRPORT
64 Ave
OLD BANFF COACH ROAD
Now Open Show suite 175 Panatella Hill NW
W
CENTRE STREET
E
JO HN CR LA OW UR 14 IE CH BLV ILD D. TR AIL
TRA
IL N
14 STREET
AIL ENU
NOSE HILL PARK
Register: cardelcondos.com
10 SAGE PLACE BY CARDEL LIFESTYLES
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DIN GTO N
09 NOLAN PARK BY CARDEL LIFESTYLES
DE
BED
PI AG AN SH
SE NO
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16 A V
CENTRE STREET
01 . BLVD
LS Y HIL UNTR
NA
R. LD HIL
E STON
15
Register: jayman.com/carnaby
22
CO
08 CARNABY HEIGHTS BY JAYMAN MODUS
STONEY TRAIL NW
HA RV BLVEST H D N ILLS E
STONEY TRAIL NW
05
Sherwood Blvd at Sherwood Way NW Register Now www.thetimbers.gablecrafthomes.ca
MacLEOD TRAIL
COUNTRY HILLS BLVD.
14TH ST NW
10 18 03 SY MO NS VA 08 06 07 LLEY RD 12 . 04
SYMONS VALLEY PKWY
09
85 ST. NW
ROCKY RIDGE BLVD.
144 AVE NW.
07 THE TIMBERS BY GABLECRAFT HOMES
SOUTHLAND DRIVE ANDERSON ROAD
DEERF
OOT T
W BO
CRE
M AIL TR
AIL
VITT
McKE
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LEO
Mac
S JAME
SHAWNESSY BLVD.
EK P ARK
TTO BO
FISH
RAIL
IS OF
U MARQ
E LORN
TRAIL
NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 08 | NEW CONDO GUIDE 37
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BEST VALUE IN
EVANSTON
,S
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STARTING IN THE
FINAL PHASE JUST RELEASED FROM
NET GST
AT EVANSTON
$319,900 NET GST
AT REDSTONE
ARRIVE HAPPY TAKE PRIDE IN OWNING AN ARRIVE TOWNHOME BECAUSE IT’S BUILT ENVIRONMENTALLY RESPONSIBLE – AND LOVE IT BECAUSE IT IS CERTIFIED BUILTGREEN™ TO SAVE YOU MONEY. OUR TOWNHOMES FEATURE SPACIOUS FLOOR PLANS WITH 2 TO 4 BEDROOMS, 2.5 BATHS, AND AN ESSENTIAL HEATED ATTACHED GARAGE, WITH A FULL DEPTH DRIVEWAY.
ON
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LE
YR
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OA D
TR
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NW
FO
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DE
SY M
REDSTONE ST
OT TRAIL
AL
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SI
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N
PK
O
Y W
ER
D
14 ST NW
TE CA
EVANSTON DR
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LO
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METIS TRAIL
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COUNTRY HILLS BLVD
NW
VISIT OUR SALES CENTRE TODAY
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CALL 587-755-1166 FOR PURCHASE INCENTIVES
CALL 403-264-8963 ONLY A FEW WALKOUT TOWNHOMES LEFT
EVANSTON SALES CENTRE AND REDSTONE SHOWHOMES OPEN: MONDAY TO THURSDAY 2PM TO 8PM SATURDAY AND SUNDAY 12PM TO 5PM ARRIVE AT EVANSTON LOCATION
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concrete construction priced better than our competitor’s wood Picture Perfect living quieter
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ARTIST’S RENDERING ONLY
ConCrete floor
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$250’s - $290’s FROM THE
up to 12 MontH doWn payMent plan, StartinG FroM $1,116 per MontH.
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For more information go to emeraldSky.ca or call 403.460.2510
NOW SELLING IN 14 LOCATIONS ACROSS ALBERTA FROM ThE
NS RD. MO Y SY LLE VA
37TH ST.
Only nEw COnCRETE COndOMIMIuM In dESIRablE KInCORa
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e
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$160’s - $200’s Featuring • Your choice of professionally designed interior finishing packages • 5 appliance package • Spacious patio or deck • Hardieboard fibre cement siding • Secure titled heated underground parking • Maintenance free lifestyle
MARQUIS OF LORNE TRAIL SE (22X)
210 AVENUE SE LEGACY BLVD SE
IL RA DT EO CL MA
ary
FROM THE
You quaLiFY WitH a HouseHoLd income oF
$35,000
WitH paYments From
$688
MONThLy*
ask about our easY doWn paYment pLan! *OAC based on 5% deposit, 3.19% interest amortized over 25 years.
SALES CENTRE LOCATED AT 210 AVE SE, CALGARy saLes centre Hours: mon - thurs 2-8 pm sat, sun & Holidays 12- 5 pm
403.460.5206
For more inFormation go to
Legacygate.ca
EDMONTON & AREA Erin Ridge Gate - St. Albert Vita Estates - NW Edmonton Elements II at McConachie - NW Edmonton MacTaggart Ridge Gate - NW Edmonton Aurora Greens - SW Edmonton Creekwood Landing I & II - SW Edmonton Heritage Valley Station I & II - SW Edmonton
inquire about immediate occupancies
FOR MORE INFORMATION VISIT:
carlislegroup.ca 403.571.8426
6 AVE N
GREYHOUND BUS TERMINAL
23 AVE S
26 AVE S
42 NEW CONDO GUIDE | VOLUME 18 ISSUE 08 | NewHomeAndCondoGuide.ca
INNER CITY 11 SOBOW BY M2I DEVELOPMENTS CORPORATION 1640 17A St.
RILEY PARK
24
6 AVE N
5 AVE N
VE 4A
3
EN
12 KENSINGTON BY BUCCI
V 2A
SUNNYSIDE 20 STATION
ROTARY PARK
PRINCE’S ISLAND PARK
301 10th St. NW
21
13 FIRST BY FRAM + SLOKKER
17
12
EAU CLAIRE04 MARKET
24
East Village Experience Centre 553 Riverfront Ave. SE
16
25
14 AVLI ON ATLANTIC BY RED MANAGEMENT
01
1220 9th Ave.
4 AVE S
06
15 SCOLLEN HOUSE BY 320 MISSION DEVELOPMENTS
13 18
5 AVE S 6 AVE S
REYHOUND US TERMINAL
MILLENNIUM PARK
19 CONVENTION CENTRE
9 AVE S
12 AVE S
07
1 ST E
COLONEL BELCHER HOSPITAL MOUNT ROYAL VILLAGE
26 AVE S
TALISMAN SPORTS CENTRE
4 ST W
5 ST W
08
22
02 PARK POINT BY QUALEX-LANDMARK
07 SMITH BY GROSVENOR
03 43 PARK 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 BY CARLISLE GROUP
101 Riverfront Avenue S.E.
18 EVOLUTION BY EMBASSY BOSA INC.
ERLTON / STAMPEDE STATION
15 26 AVE S
liveLiFFT.com
bridgelandcrossings.ca
Sales Centre 921 - 1st Ave. NE
916 Memorial Drive
VICTORIA PARK / STAMPEDE STATION
PROSPECT AVE
10 ST W
23 AVE S
CLIFF ST
17 AVE S
05
11
16 STEPS BRIDGELAND BY GIUSTINI BRIDGES IN. 17 916 BY SABLE DEVELOPMENTS
OLYMPIC WY
02
MACLEOD TR
1 ST W
2 ST W
4 ST W
5 ST W
8 ST W
10 ST W
14 11 AVE S
Corner of 25th & 3rd St. SW
FORT CALGARY
CITY HALL
23 MISSION 34 BY ASSURED COMMUNITIES
98 Mission Road SW mission34.ca
24 RADIUS BY BUCCI DEVELOPMENTS Coming soon to Bridgeland www.bucci.com/radius
25 BRIDGELAND HILL BY GABLECRAFT HOMES 516 Edmonton Tr. NE
NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 08 | NEW CONDO GUIDE 43
QUICK TIPS
3 organizing myths, busted! By Hellen Buttigieg
I
t’s time to dispel some organizing myths that keep you stuck in your mess:
1. Multi-tasking is productive. False. Multi-tasking can make you lose focus and distracts us from being in the present moment. Next time you are participating in an activity, be with that activity rather than thinking about all the things you should be doing instead, or have to do later. Resist the habit of trying to do two things at once. 2. Being messy means you are disorganized. False. Organizing is not about how it looks, it’s about how it works. Visual, creative types need to have things out where they can see them, because out-of-sight is outof-mind for them. This may cause their spaces to appear disorganized to others, but they probably know exactly where everything is. The flip side of this though is that visual types lose focus when there is too much to look at, so they need to find products that will allow them to contain their stuff to keep down the visual clutter. For example, a literature sorter allows them to contain their papers while still keeping them within view. 3. If you write it on a to-do list, it will get done. False. To get anything done, you have to actually schedule time to do the things on your list. Simply
44 NEW CONDO GUIDE | VOLUME 18 ISSUE 08 | NewHomeAndCondoGuide.ca
putting a task on a list is not a commitment. Blocking time on your calendar to do it is.
Hellen Buttigieg is a certified professional organizer, life coach, TV host and owner of We Organize U. Visit her website, WeOrganizeU.com, or email Hellen at info@WeOrganizeU.com
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AVENUEWESTEND.COM NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 08 | NEW CONDO GUIDE 47
HOT TOPIC
10 mistakes homebuyers make AND HOW TO AVOID THEM By Marnie Bennett
B
uying a new home is one of the most significant decisions of your life. Be properly educated and make all the right moves to ensure your home is both a comfortable place to live and a great investment for the future. Here is a list of the 10 most common mistakes to avoid: 1. Failing to use a trusted adviser A home is the greatest asset of your life, so you need to ensure you have done the proper homework. It is critical that you work with a professional such as a trusted real estate representative and lawyer. Make sure your real estate professional is dedicated to the job full time, and that they know exactly what you’re looking for in your top neighbourhood – not their’s. Work with someone who gets you the best price and a hassle-free experience. 2. Wasting time by looking at homes you can’t afford Most buyers don’t know what they can afford. It is critical that you know both your credit rating and how much of a mortgage you qualify for before you begin shopping for a home. 48 NEW CONDO GUIDE | VOLUME 18 ISSUE 08 | NewHomeAndCondoGuide.ca
Get a full mortgage pre-approval from your bank or broker, which is a commitment from the lender that states the purchase price and your interest rate – guaranteed for a specific amount of time, usually 90 to 120 days. When buying a brand new build, you will need a capped rate up to 18 months to accommodate the construction period. With this approval in hand, you can then concentrate on looking at condos you know you qualify for. 3. Buying the wrong home The first thing prospective buyers should do is make a list of priorities and outline the “musthaves” and your “wish list.” Determine the desired housing style, number of bedrooms, bathrooms, neighbourhood, parking and proximity to work or public transportation. There are so many choices, so be clear and concise, and stick to your budget. continued on pg. 50
STA
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European in style with Calgary in mind, each home offers distinct details such as real granite countertops and full slab backsplash in your premium Italian Armony Cucine kitchen. The integrated kitchen cabinetry, appliances and hardware make your work, dining and living space one harmonious experience. These interiors are the ultimate in everyday elegance. CALGARY · PARKSIDE LIVING ON CENTRAL MEMORIAL PARK
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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.
HOT TOPIC continued
Resale and new homes each have their own advantages and disadvantages. Make a list and compare them. For example, with a new home you have choices such as style, finishes and the suite’s location in the building – and everything is new. 4. Trying to save money by not hiring a professional home inspector A home inspection can help distinguish a home that is a money pit from one that is a gem. Even buyers of brand new homes can benefit from a home inspection. 5. Not revisiting your target neighbourhood a few times It is critical that you view the home at different times of the day and at night. You want to ensure you made the right decision on your neighbourhood of choice – and potentially your new neighbours. 6. Giving in to fear Yes, buying a home is a scary thing and you may not feel certain you’ve found the right place. Should you buy now? Will prices fall? Will you receive any incentives? Should you keep looking? Remember, when you’re renting you are making someone else rich and not building equity in your own home. When you become a homeowner, you have a fixed asset and you’re on your way to financial freedom. Do your homework and be ready to make the decision when you find the perfect home for you. Have confidence. 7. Not being prepared for closing costs The down payment is one thing, but there are other closing costs such as lawyer fees, land transfer taxes, utilities, insurance and others, so be prepared. You may also be eligible for government programs such as the Home Buyers’ Tax Credit and Home Buyers’ Plan, so do your research and know what your total costs will be.
10. Being ill-prepared for moving day It is important to establish a list of priorities and ensure you have contacted the utility companies, secured proper insurance, booked movers, rerouted your mail and finalized all financing. If you do all your homework and you’re well prepared, moving day can be the start of one of the greatest experiences of your life.
8. Not understanding your mortgage This is a complex and often-intimidating topic, but what you learn (or don’t learn) about mortgages could save or cost you thousands of dollars. Key factors are your interest rate and amortization, but also find out what your payment privileges are, whether the mortgage is portable, your down payment requirement, insurance needs, if the mortgage is open, closed, variable or fixed. Understand the terms and what they mean for you. 9. Failing to understand the differences between buying a new home and a resale home Resale and new homes each have their own advantages and disadvantages. Make a list and compare them. For example, with a new home you have choices such as style, finishes and the suite’s location in the building – and everything is new. But you also may face construction delays, which could impact your finances or current living arrangements. With resale, what you see is what you get. Figure out which scenario is best for you. 50 NEW CONDO GUIDE | VOLUME 18 ISSUE 08 | NewHomeAndCondoGuide.ca
Marnie Bennett is the number one Realtor worldwide for Keller Williams Realty Inc., and is in the top one per cent of North America’s realtors and team leader of Bennett Real Estate Professionals. Contact mbennett@bennettpros.com or visit bennettpros.com
51
INNER CITY
METIS TRAIL
NORTHEAST COMMUNITIES
12 AVENUE
52 STREET
68 STREET
07 ARRIVE AT SKYVIEW RANCH ARBOURS BY PARTNERS DEVELOPMENT GROUP Coming Soon www.arrivehome.ca
13 V&V BY PROVIDENCE GROUP
IVE
Now Open Register: einsteincalgary.com
36 STREET
17 Ave
52 STREET
BLACKFOOT TRAIL
ELBOW DR IVE
104 Redstone View (off Redstone Way)
IAL DR
R MEMO
02 43 PARK BY VERICON REAL ESTATE VENTURES
MacLEOD TRAIL
43park.ca
DEERF
114 AVE SE
OOT T RA
IL
W BO
NEW BRIGHTON
M TTO BO
CRE
84 STREET
52 STREET
BARLOW TRAIL
GLENMORE TRAIL
ANDERSON ROAD
IL
AIL
D TR
VITT
McKE
LEO
Mac
S JAME
TRA
EK P ARK
SHAWNESSY BLVD.
06 ARRIVE AT REDSTONE BY PARTNERS DEVELOPMENT GROUP
64 Ave
16 AVENUE
SOUTHLAND DRIVE
FISH
Coming Summer 2015 Register: jayman.com/harana
13
17 Ave
GLENMORE RESERVOIR
05 HARANA TOWNHOMES BY JAYMAN MODUS
80 Ave
32 Ave
03 04 MEMO 02 01 RIAL D RIVE
Coming Soon bridgelandcrossings.com
Sales Centre 921 - 1st Ave. NE www.stepsbridgeland.com
MCKNIGHT BLVD.
16 AVENUE
01 BRIDGELAND CROSSINGS BY APEX CITY HOMES
04 STEPS BRIDGELAND BY GIUSTINI BRIDGES IN.
SADDLETREE DR.
FA L RID CON GE
CENTRE STREET
14 STREET
.
Sales Centre #701, 7th Ave. NE livelifft.com
FO OT T DE
CALGARY INTERNATIONAL AIRPORT
64 Ave
CRI J OW OHN CH L ILD AUR IE TR BLV AIL D
EDMONTON TRAIL
SH AG AN
NA PI TR
ER
AIL
CO
NOSE HILL PARK
05 128 NE Ave
COUNTRY HILLS BLVD.
RA IL
VD. LS BL
Y HIL UNTR
03 LiFFT BY VERICON REAL ESTATE VENTURES
STONEY TRAIL 06 07
U
MARQ
CHAPARRAL CRANSTON
AIL
NE TR
LOR IS OF
COPPERFIELD
ABURN BAY
NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 08 | NEW CONDO GUIDE 53
INDEX OF ADVERTISERS
READ MORE ABOUT OUR ADVERTISERS! Albert Park Station
Carlisle Group
Arrive at Evanston
Partners Developments
39
Arrive at Redstone
Partners Developments
39
Avenue
Grosvenor
47
Bayside at Brooksprings
Merge Developments
Chalet No. 6
Hopewell
21
Champagne
Remington Development Corp.
2
Copperfield Park III
Brad Remington Homes
15
Cranston Ridge
Cardel Lifestyles
3
Emerald Sky
Carlisle Group
The Gates
Remington Development Corp.
14
The Guardian
Hon Towers Ltd.
45
Harvest Mosaic
Brookfield Residential
19
Heartland Townhomes
Excel Homes
25
Hunter House
Streetside Developments
30
INK
Battistella
5
Jumping Pound Ridge
Slokker West
7
Legacy Gate
Carlisle Group
40-41
Legacy Park
Brad Remington Homes
LIDO
Battistella
44
Mosaic Riverstone
Brookfield Residential
19
Muskoka
Brookfield Residential
19
Origins
Streetside Develoment
1, 11-13
Park Point
Qualex Landmark
49
Radius
Bucci Developments
6
Sanderson Ridge at Fish Creek
Telsec
33
Sandgate
Hopewell
21
Scollen House
320 Mission
51
Smith
Grosvenor
42
The Timbers
GableCraft Homes
4
V&V
Providence Developments
52
Vivace
Streetside Developments
35
Willow
Avi Urban
58-59
Zen Cranston
Avalon Master Builder
22-23
Zen Okotoks
Avalon Master Builder
24
Zen Ravenswood
Avalon Master Builder
29
54 NEW CONDO GUIDE | VOLUME 18 ISSUE 08 | NewHomeAndCondoGuide.ca
40-41
26-28
40-41
16-17, 60
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 08 | NEW CONDO GUIDE 55
HOMEBUYERS’ HELP
You love the condo, see what you can afford!
INTEREST RATES
Calculate your mortgage payments
Amortization Periods
% 5 YEARS
10 YEARS
15 YEARS
20 YEARS
25 YEARS
3.00
17.96
9.65
6.91
5.54
4.73
3.25
18.07
9.76
7.02
5.66
4.86
3.50
18.18
9.88
7.14
5.79
4.99
3.75
18.29
9.99
7.26
5.91
5.13
4.00
18.40
10.41
7.38
6.04
5.26
4.25
18.51
10.23
7.50
6.17
5.40
4.50
18.62
10.34
7.63
6.30
5.53
4.75
18.72
10.46
7.75
6.44
5.67
5.00
18.85
10.59
7.89
6.58
5.82
5.25
18.97
10.71
8.01
6.71
5.96
5.50
19.08
10.83
8.14
6.85
6.11
5.75
19.19
10.95
8.27
6.99
6.26
6.00
19.30
11.07
8.40
7.13
6.40
6.25
19.42
11.19
8.54
7.27
6.55
6.50
19.53
11.32
8.67
7.41
6.70
6.75
19.64
11.44
8.80
7.55
6.86
MONTHLY PRE-TAX INCOME
SPOUSE’S PRE-TAX INCOME
TOTAL PRE-TAX INCOME
DIVIDE BY THREE
AFFORDABLE MONTHLY PAYMENTS DIVIDED BY 12
AMOUNT OF MORTGAGE (PRICE-DOWN PAYMENT)
CHART FIGURE
AMOUNT OF MORTGAGE DIVIDED BY 1,000
AMORTIZATION AMOUNT
AMORTIZATION AMOUNT
ESTIMATED MONTHLY TAXES AND HEAT
MONTHLY PAYMENTS
Follow these steps to see if you’ll qualify for a mortgage on your dream condo 01 Calculate the combined monthly beforetax income of you and your spouse. 02 Divide by three. This figure is the monthly payment you can afford to make on your condo. 03 Take the total price of the condo and subtract the amount of money you expect to make as a down payment. This is the money you will have to borrow. 04 Refer to the chart above. Look down the left column and locate the interest rate you expect to pay. Line this up with the amortization period of your choice. (Most first-time buyers take the 25-year amortization.)
56 NEW CONDO GUIDE | VOLUME 18 ISSUE 08 | 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 6 MONTHS
1 YEAR
3 YEARS
4 YEARS
5 YEARS
ATB Financial
VARIABLE
2.350
4.000
2.940
2 YEARS
2.640
2.540
2.690
2.740
Bank of Montreal - BMO
2.850
4.000
2.890
2.840
3.390
3.890
4.740
Bank of Nova Scotia
2.850
4.550
3.290
3.090
3.390
3.890
4.490
CIBC Mortgages
2.850
4.450
2.890
2.840
3.550
4.140
4.790
Canadian Western Bank
3.050
4.000
3.140
3.040
3.650
4.200
4.740
Canadian Western Trust
3.050
4.000
3.140
3.040
3.650
4.200
4.740
-
6.200
2.890
2.890
2.950
2.990
2.690
First Calgary Financial
-
4.000
2.890
2.890
2.490
3.090
2.650
First National Financial
2.200
3.100
2.290
2.190
2.340
2.540
2.690 2.690
Comtech Credit Union
FirstOntario Credit Un.
2.850
4.240
2.890
2.590
2.690
2.840
HSBC Bank Canada
2.850
4.450
3.140
3.140
3.540
4.240
4.740
Home Trust Company
2.500
3.950
2.690
2.350
2.390
2.590
2.590
ICICI Bank Canada
3.050
-
3.150
3.650
3.640
3.690
3.690
Investors Group Trust
2.850
4.200
3.140
3.090
3.390
3.890
4.740
Laurentian Bank Canada
2.850
4.400
2.890
2.840
3.390
3.890
4.740
London Life
2.850
4.200
3.140
3.090
3.390
3.890
4.740
Manulife Bank
2.550
4.450
3.000
2.940
2.840
2.790
2.790
-
4.450
3.000
2.940
2.840
2.790
2.790
Meridian Credit Union
Manulife Trust
2.650
4.000
3.090
3.090
3.550
3.290
2.690
National Bank
2.850
4.400
2.890
2.840
3.390
3.890
4.740
-
5.000
2.890
2.590
3.390
3.890
4.640
2.650
-
2.800
2.850
2.950
3.050
3.150
-
4.500
3.150
3.500
3.750
3.850
3.950
President’s Choice Fin’l
2.850
6.190
3.190
2.840
3.490
4.040
4.440
Royal Bank of Canada
2.850
3.140
3.140
3.040
3.650
4.390
4.640
Servus Credit Union
-
4.000
2.890
2.840
3.390
3.890
4.640
Steinbach Credit Union
-
-
2.450
2.550
2.550
2.650
2.650
T-D Mortgage
2.850
3.140
2.890
2.840
3.390
3.890
4.640
Tangerine
2.850
-
3.190
3.240
3.490
3.690
3.790
PACE Savings & Credit Un Parama Credit Union Peace Hills Trust
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 08 | NEW CONDO GUIDE 57
My
Now Open Love it. Live it. Afford it.
Condos from the low $100’s MAP IT!
mylegacypark.com
Sales Centre: Legacy Main Street and Legacy Blvd SE 403.931.8558 2:00-8:00pm Monday-Thursday 12:00-5:00pm Sat-Sun/Holidays