Sept 13 - Oct 11, 2013 Volume 16 Issue 10
inside this issue
001-NHCAL CVR_09-13-2013.indd 1
CALGARY AMONG TOPS IN HOME AFFORDABILITY
IS IT TIME TO PREPARE FOR HIGHER RATES?
NEW HOMES BOAST QUALITY, EFFICIENCY
9/5/13 12:01:27 PM
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2013-09-05 12:05 PM
Discover our new Models Available from Shane Homes in Nolan Hill
Nook 9’11 x 9’5/9’9
Owner’s Suite 11'1 x 16’
Bedroom 2 9’1 x 10’
DN Walkthrough Pantry
Bedroom 3 9’1 x 10’
Veranda 4' x 5'
The Riviera 1694 sq. ft.
mid ng from the i t r a st
Ensuite Living Room 11' x 15'10
Garage 18' x 24'
Family Room 16'11 x 10'4/11’4
main: 694 sq. ft. second: 1000 sq. ft.
Select models available on limited lots The Verve | 1453 sq. ft. Two-storey
Single-Family Laned Homes also available
mt starting fro
Community Highlights ▪ close to numerous shops, restaurants & medical clinics ▪ many nearby shopping centres including Creekside Shopping Centre & Costco ▪ nearby foothills & the picturesque Rocky Mountains ▪ 20 minutes to Calgary’s International Airport ▪ close to CrossIron Mills Shopping Outlet
For more info call Dave at:
144 Ave NW Nolan Hill Gate NW
Nolanfield Way NW
Sat, Sun & Holidays: 12 - 5 pm
H i ll B
lvd N W
Driving Directions: From Stoney Trail NW take exit 48 for Shaganappi Trail. Continue north on Shaganappi Trail NW and then make a left hand turn onto Nolan Hill Gate NW. Take another immediate right hand turn onto Nolanfield Way NW.
W ail N i Tr
p nap aga Sh
Mon - Thurs: 2 - 8 pm
r NW Hill D
409 Nolanfield Way NW
Show Home Address:
Symons Valley Rd
Creations by Shane Homes Showhome
* Starting from price includes house, lot and GST. Pricing subject to change without notice. Sarcee B
nappi T Shaga
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NEWHOMEGUIDE.CA Published by
contents sept 13 - oct 11, 2013
voLume 16 issue 10
cover story Centrex Homes PRESENTS URBAN STYLES FOR THE MODERN FAMILY IN WALDEN PAGE 12
features & editorials IN EVERY ISSUE
IN THE NEWS
Our beloved river parks and pathways
Calgary homes among the most affordable in Canada homeownership
Tapping into homeownership for cash flow
by Heather Ryan
by Cody Battershill
by Brad Jackman
Is it time to prepare for higher mortgage interest rates? by Wayne Karl
the homebuying process
Quality and efficiency found in today’s new homes by Donna Moore
HOMEBUYERS’ HELP cover story
Do you know how you rate? by Jason Eldridge
Centrex Homes presents urban styles for the modern family in Walden by Heather Ryan
Shane Homes offers great choice in Kings’ Heights by Heather Ryan
Cardel crafting gorgeous estate homes in Walden Park community profiLe
Genstar building great communities in northwest Calgary by Heather Ryan
The finishing touches by Kara Kuryllowicz
homebuyers’ resource section
Mortgage calculator and rate table
vice-president, wall2wall media
director of sales, western canada
editor-in-chief, national real estate
Susan Legge art director
Bianca DiPietro editor
Wayne Karl contributing editors
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Home Guide, Toronto, Ontario, Canada. Reproduction in any form is prohibited. Contents of this publication are covered by Copyright and offenders will be prosecuted under the law. The views and data expressed by columnists do not necessarily represent those of the publication.Wall2Wall Media is a trademark of Yellow Pages Group Co. in Canada. Terms Advertisers,
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Buying made easy
Three simple steps to success
hopping for a home online is a great way to narrow your search, but there’s nothing like visiting the sites, models and sales offices to get down to the nitty-gritty. Before you venture out, here are some pointers: First, be clear about what you want and expect in a new home and in your builder. Remember, the range of prices in the new-home market generally reflects differences in location, features and home styles. There’s no magic involved. If a builder’s pricing seems out of whack with others in the area, ask for an explanation. Higher prices could mean better quality materials, finishings, features and service. Make sure that the price you are paying will deliver the quality you want. Second, understand exactly what is included with the home you are buying and what is optional. Ask the sales representative to show you samples, and request a “spec” sheet that clearly lists what is included, as well as any upgrade options. Third, evaluate any promises that have been made during your visit. Is the builder prepared to put them in writing? Hearsay comments should not be included as part of your evaluation process. Sit down with your sales representative, ask questions and discuss your Agreement of Purchase and Sale in detail – then take it to a lawyer before it’s finalized.
Susan Legge EDITOR-IN-CHIEF Wall2Wall Media,Susan.Legge@wall2wallmedia.com Follow me on Twitter at Twitter.com/SusanLegge
Upgrades that make sense As you select builder upgrades when buying your new home, keep an eye toward the future
hinking of the long-term, or to any point in the future, may be difficult to do when you’re buying a new home. All the excitement of choosing a location, builder, type of home and, of course, the finishings, takes over and all you can think about is the here and now, and you can’t wait to move in. When it comes to selecting upgrades, however, experts suggest that it’s wise to keep an eye toward the future. Indeed, it’s hard to imagine selling a home you haven’t even moved into yet. But one day, quite likely, you will be in that position, and you will be glad you struck a balance between those little touches that made your home “home,” and those that might appeal to others. You may also be happy you exercised at least some caution when you’re at your builder’s decor centre. Without it, you could easily find yourself exceeding your budget – for the sake of a few luxuries that you could likely do without.
EDITOR Wall2Wall Media, firstname.lastname@example.org Follow me on Twitter at Twitter.com/WayneKarl
08 NEW HOME GUIDE | SEP 13 - OCT 11, 2013
›› CALGARYREGIONSOUTH 1A
CHESTERMERE 797 LANGDON
BLACK DIAMOND OKOTOKS
HIGH RIVER HIGHWOOD LAKE
SHOWHOMES: 1901-1903 Riverside Dr. NW DEVELOPER: WestView Builders BUILDER: WestView Builders
BUILDERS: WestView Builders
SHOWHOMES: Montgomery Way SE and Montrose Terrace DEVELOPER: Dundee Developments BUILDER: Lifestyle Homes, Red Door Homes
PRIDDIS HAWKS LANDING
DEVELOPER: Hopewell Residential Communities BUILDERS: Prominent Homes, Baywood Estate Homes, Trickle Creek Custom Homes, Wolf Custom Homes, Thompson Luxury Homes, Bradmar Homes, Baywest Homes www.hawkslanding.ca
BLACK DIAMOND RIVERWOOD
SHOWHOMES: 725 and 821 3rd Street SW DEVELOPER: Riverwood Estates Inc. BUILDERS: Sheep River Homes, Woodmaster Homes
BUILDERS: Compass Rose Homes, Sheep River Homes
HERITAGE POINTE THE RANCH AT HERITAGE POINTE
DEVELOPER: Upper Lakes Group Inc. BUILDERS: Astoria Custom Homes
SEP 13 - OCT 11, 2013 | NEW HOME GUIDE 09
ASK AN EXPERT: by HEATHER RYAN
New trends in interior home decor for fall Q: What are some of the new trends in home decor for fall? A: “What we’re seeing for a design trend this fall is a move toward bringing natural elements into the home,” says Kal Macdonald, interior design supervisor for Shane Homes and Creations by Shane Homes. “So we’re seeing a lot more stone and wood, and metals – copper and bronze – that can add warmth to the home.” With hardwood floors people are choosing more medium tones and woods such as oak that have more grain, as well as a distressed look. “We’re starting to sell more laminate floors and manufacturers are focusing on design so they look a lot like hardwood, but offer a more affordable price point and added durability,” Macdonald says. “Laminates featuring a barn board look also transfer well from the floor to the wall. I don’t recommend using them on the floor and wall in the same room, but you can get a really nice look by using the laminate on walls, like on the back wall in a family room. “Tile manufacturers are also creating tile that looks like wood and it’s a great look for around a fireplace,” he says. “The only downside to tile is that it’s colder underfoot than laminate and hardwood.”
Stone pebbles pre-mounted on sheets that can be applied to the wall are great for backsplashes and around a fireplace and because they are typically slightly rounded and polished they go nicely on shower floors. “We’re also seeing a lot of stone tiles such as slate and Travertine used on walls in the bathroom and in showers,” Macdonald says. “We are also seeing marble make a big comeback with marble mosaic tiles for backsplashes in the kitchen; they add a clean, timeless look. “We’re getting a lot of requests for marble,” however since it’s more porous, Macdonald recommends people use it on bathroom vanities and not for kitchen counter tops. As for metals, he says, a number of tile manufactures are “coming out with linear mosaic tiles with glass, stone and metal – either copper or stainless steel. Brass and gold are also making a comeback with lamps and accessory accents.”
WELCOME TO A PLACE WHERE YOUR HOME EXTENDS FAR BEYOND THE PROPERTY LINE. L I V E
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FOR MORE INFORMATION VISIT LIVEATARTESIA.COM
10 New home12503 Guide |client sep 13Heritage - oct 11,Pointe 2013 title Artesia 1/2 Page AD publication New Home Buyers Guide docket#
insertion date September 2013 material close August 30, 2013 size 6.75" x 4.625" colour CMYK proof date August 21, 2013 foundrycommunications.ca
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Centrex Homes presents urban styles for the modern family by Heather Ryan
stylish, urban contemporary home designed for the modern family is wowing buyers in Walden in southeast Calgary. Centrex Homes’ newest showhome in Walden, the 2,480sq.-f.t Sheffield, offers an attractive urban modern elevation. Inside, buyers are discovering an array of terrific eye-catching features and quality finishes that please the entire family. “The decor is very much urban contemporary, it has bright accents and huge windows, which provide plenty of natural light giving it that warm feeling throughout,” says area manager Becky Burbank. “People love the spaciousness of the main floor and that the central kitchen opens up into the great room and dining room. It’s perfect for entertaining “One thing that people really want in their home is storage and there is plenty of it in the Sheffield’s kitchen, bedrooms and bathrooms,” she says. “People also love the centrally located bonus room with its high, vaulted ceiling.” Stepping into the Sheffield, the wide foyer impresses with the cool grey tile floor which is a perfect match to the 12 New home Guide | sep 13 - oct 11, 2013
entrance’s fresh paint colours. The tile foyer then transitions into beautiful hardwood floors that span the main living areas thus giving the space a homely and inviting ambience. Off to the right is a front flex room ideal for a cosy office or nice private sitting area. Centrex boosts the wow factor in the kitchen with a seven-ft.-long quartz-topped island, built-in microwave and dishwasher, and a flush eating bar. The light grey granite counters are a nice contrast to the white cabinets and dark grey subway tile backsplash. Two tiers of cabinets offer ample storage space with stainless steel appliances including a five burner gas cook top and built-in double wall ovens. Across from the expansive kitchen, the great room is highlighted by a wall-centred fireplace and the spacious dining room can easily host large gatherings of friends and family. Huge windows and double glass doors across the rear of the home bathes the whole living area in natural light. A frosted glass door in the kitchen opens to a walk-through pantry which leads to the mudroom room with a large built-in seat off the garage. There is a convenient half-bath too.
People love the spaciousness of the main floor and that the central kitchen opens up into the great room and dining room. It’s perfect for entertaining.
Upstairs, the huge central bonus room impresses with its high vaulted ceiling and two large windows, ensuring a bright and inviting space for lounging with the family. The spacious master retreat can easily accommodate king-sized furniture and owners will love the expansive walk-in closet with multiple built-ins. The luxurious ensuite is stunning with its large free-standing soaker tub, over-sized walk-in shower and his and her sinks separated by a make-up counter. “There is no doubt that this home is built with the consumer in mind,” Burbank says. At the other end of the home are two generous sized bedrooms, one with a 10-ft. ceiling, and both with dual closets. There is a large full bathroom with dual sinks, and a good-sized laundry room with multiple cabinets. Centrex has eight models to choose from in Walden, including the 2,042-sq.-ft. Montcalm showhome, which Burbank says offers “a more traditional look and people say it feels much larger than the square footage.” Walden appeals to buyers because they can easily walk to parks, pathways and to a variety of amenities at the Gates of Walden. Amenities include Starbucks, Shoppers Drug Mart, restaurants, services and a Save-onFoods grocery store that will open soon. It is also conveniently located by Macleod Trail and the LRT at Somerset. For more information on Centrex models in Walden, visit the showhomes, open Monday to Thursday, 2 to 8 p.m., and weekends and holidays, noon to 5 p.m., call 587-351-5998 or visit centrexhomes.ca
sep 13 - oct 11, 2013 | New home Guide 13
N OR T
NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.
OKOTOKS AIR RANCH
YSTAL SH OR ES RD.
ISTER CR GATE
ID GE D
SANDSTONE DR. MOUNTAINVIEW GATE
338 AVE. E.
NO RT HR
CRYSTAL RIDGE GOLF CLUB
3 32 ST. E.
370 AVE. E.
SHOWHOMES: Ranchers Crescent DEVELOPER: Bordeaux Developments BUILDERS: Baywest Homes, Sterling Homes, Wolverine Custom Homes
DEVELOPER: Tristar Communities BUILDERS: Excel Homes, Trico Homes, Cedarglen Homes, Coco Homes, Today’s Homes, California Homes, Assured Homes
03 DRAKE LANDING
SHOWHOMES: Drake Landing Way, Drake Landing Crescent and Drake Landing Hill DEVELOPER: United Communities BUILDERS: Lifestyle Homes, Morrison Homes, Sterling Homes, Prominent Homes
RO N TR A I L
32 ST. E.
01 OKOTOKS AIR RANCH & RANCHERS’ RISE
CIMARRON BLV D.
SHOWHOMES: Westland Street DEVELOPER: Prominence Development Corp. BUILDERS: Jager Homes, Reid Built Homes, Sterling Homes, WestView Builders
05 EAGLE CREST
SHOWHOMES: Directly behind Westmount DEVELOPER: Prominence Development Corp. BUILDERS: Carpenter Homes
07 CRYSTAL RIDGE
SHOWHOMES: Crystal Green Dr. DEVELOPER: United Communities BUILDERS: Sterling Homes, Baywest, Crossley Homes
(NOW OPEN) AT SANDSTONE DR. & MOUNT BURNS GREEN Apex Developments BUILDERS: Excel Homes, Sterling Homes www.mountainviewokotoks.com
06 THE HILL IN WESTRIDGE SHOWHOMES: Westridge Road DEVELOPER: Qualico BUILDERS: Sterling Homes
SEP 13 - OCT 11, 2013 | NEW HOME GUIDE 15
Calgary homes among the
most affordable in Canada Canadian homes became slightly less
affordable in the second quarter of 2013, according to the latest Housing Trends and Affordability Report from RBC Economics Research. The good news for Calgary, however, is that homes here remain among the most affordable in the country. “Homebuyers seemed unfazed by the slight deterioration in affordability – we saw the market regain some momentum in the second quarter with home resales increasing 6.4 per cent,” says Craig Wright, senior vice-president and chief economist, RBC. “Resales should stabilize close to the recent not-too-hot, not-toocold levels in the near-term, barring any further changes in housing policy by the federal government.” The RBC housing affordability measure captures the proportion of pre-tax household income that would be needed to service the costs of owning a specified category of home at going market values (a rise in the measure represents deterioration in affordability). During the second quarter of 2013, affordability measures at the national level rose for two of the three categories of homes tracked. RBC’s measure for the detached bungalow rose 0.3 percentage points and for the standard two-storey home rose 0.4 percentage points to 42.7 per cent and 48.4 per cent, respectively. The measure for the standard condominium was unchanged at 27.9 per cent. In Alberta, owning a home continued to be relatively affordable, despite some increases in ownership costs in
In Alberta, owning a home continued to be relatively affordable, despite some increases in ownership costs in the past two quarters. 16 New home Guide | sep 13 - oct 11, 2013
the past two quarters. RBC’s affordability measures for the province rose between 0.1 and 0.7 percentage points across all housing types in the second quarter; yet, levels still stood below their long-term averages. For Calgary, specifically, a strong economy, solid labour market, fast-rising population and attractive affordability continue to fuel demand for housing. In the second quarter, the affordability measure for detached bungalows remained unchanged at 33 per cent; for standard two-storey homes it rose slightly, by 0.5 per cent, to 33.6 per cent; and in standard condominiums the measure fell by 0.2 per cent to 19.4 per cent – meaning affordability improved. What is keeping affordability levels generally manageable for Canada’s homebuyers? RBC says it’s the current exceptionally low interest rates. RBC anticipates that the Bank of Canada will keep its overnight rate unchanged at 1.0 per cent through the remainder of 2013 and will gradually begin raising it starting in mid-2014, which should largely mitigate risks of serious deterioration in affordability levels.
W SHO O WH P E OM N ES !
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RA IL N
›› SOUTHWESTCOMMUNITIES 8 COACH ROAD
05 SPRING VALLEY ESTATES
SHOWHOMES: 16 Spring Valley Land SW BUILDERS: Tudor, Legend Developments, Elegant
SHOWHOMES: 53 Crestridge View SW DEVELOPER: Qualico BUILDERS: Augusta Fine Homes, Jaymack Custom Homes
08 COULEE WAY ESTATES
DEVELOPER: Coulee Way Developments BUILDER: Christal Homes www.couleewayestates.com
BLACK FOOT TRAIL
10 ELMONT BAY
BUILDERS: Westview Builders, Winwood Homes Showhomes Coming Soon www.elmontbay.com
11 SEQUOIA IN SILVERADO
NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.
DEVELOPER: Qualico Communities SHOWHOMES: Silverado Plains Circle BUILDERS: Broadview Homes, NuVista Homes, Sterling Homes
12 DRESSAGE IN SILVERADO BOTTOM TR
BUILDERS: Prominent Homes, Crystal Creek Homes, Lupi Luxury Homes
SHERIFF KING STREET
BUILDERS: Prominent Homes
S PRUCE MEADOWS HWAY
13 WESTLAND ESTATES
15 WEST GROVE ESTATES
11 3 12
DEVELOPER: Qualico Communities SHOWHOMES: Showhomes Coming soon BUILDERS: Baywest Homes, Augusta Homes
BUILDERS: Baywest Homes, WestView Builders www.westlandestates.ca
FISH CREEK PARK FISH CREEK BLVD
07 PASKAPOO IN COUGAR RIDGE DEVELOPER: Apex Developments BUILDERS: Excel Homes www.paskapooatcougarridge.com
14 AVENUE SW
SHOWHOMES: Everbrook Dr. SW DEVELOPER: Genstar BUILDERS: California Homes
02 CURRIE BARRACKS
SHOWHOMES: J5 2953 Battleford Ave. BUILDERS: Birchwood Properties, Crystal Creek Homes, Home by Avi, Empire Custom Homes, Mission Homes, Greenboro Estate Homes, Greenboro Luxury Homes, Evolution by Greenboro, and Avi Urban
SHOWHOMES: Silverado Drv. SW, Silverado Skies SW, Silverado Blvd. SW DEVELOPER: United Communities BUILDERS: Baywest Homes, Homes by Avi, Sterling Homes, Pacesetter Homes, Trico Homes, Avi Concept
SEP 13 - OCT 11, 2013 | NEW HOME GUIDE 19
your photos and art by EVELYN ESHUN
MORE OFTEN THAN NOT, A client will say that they have a ton of prints or photos in the basement which they would like to organize and finally do something with. Sound familiar? I can relate too. I have a pile of watercolours and images which I have collected throughout my travels. Hence, my inspiration to write about organizing and hanging art or photography on your walls.
There is no better time than the warmer months to tackle the backlog of the to-do list. Family photos are a great place to start. In the family room pictured, I worked closely with the client to carefully select treasured images of family which would hang in this room. It was an emotional journey which I was privileged to share and experience.
The first step I took was to measure out the wall area which would be covered with the images. We decided to create a dense collage of similarly framed photos which were both black and white and sepia. Colour photos we loved were converted by the Art Framing company into sepia or black and white. We were also able to alter the size of some of the prints based on where we wanted to place them. Because the collection was meant to be dense and busy, I selected about six different frames and mattes, that were all the same colour tones but different weights, thicknesses and shapes. This kept a consistency throughout the collection. Mirrors were also used to break up the photos and add a touch of sparkle to the collection. When creating a collection of art on your walls, it is important to realize that the eye is always looking for a line or pattern, so you must give a cohesive look to the collection. The first way to do so is by creating a rhythm. I decided to keep the tops and sides perfectly aligned so that the arrangement looks clean and the random feeling comes from the unmatched lines within the collection. Just like a carefully tousled hairstyle â€“ which
TIPS Keep your photography either all colour or all two tone, this will give harmony to your collection. If you use coloured photos, your frames should be simple in order to not take away from the photos. Your frame shop can turn favourite colour photos to black and white and size them up for your purpose. Use frames and mattes which are of similar styles in order to make the collection focus on the photos. Vary the size of frames and mattes to add a dynamic element to your collection.
is meant to look as though there was no effort in putting it together, this process took hours, about 16 to be exact, just planning where to hang, measuring and the actual hanging. Patience paid off and the finished look provided a true family room, where everyone is represented and is part of the daily life of the family members. Inspired to get into your photos and art? Lay them all out on the floor or large table, just as they would hang on the wall, this will give you the ability to create a timeline or theme if you wish to do so, and also help you visualize the finished product on the wall.
Space the frames four to six inches apart and about 10-in from the back of your sofa or table for perfect harmony. Include mirrors of various shapes to add interest in your collection. Cut bristol board in the shapes of your frames and stick them on the wall to make sure you are happy with the arrangement before you start putting nails into the wall.
EVELYN ESHUN Toronto-based accredited Interior Designer, Evelyn Eshun, Principal of Evelyn Eshun Design. For more than 14 years, she is known for her custom designed residential projects throughout the GTA that showcase the space and bring out the best in you. evelyneshun.com SEP 13 - OCT 11, 2013 | NEW HOME GUIDE 21
River Parks and Pathways
Cody Battershill is the founder of Calgaryism and a top-producing realtor at Re/Max House of Real Estate. He also sits on the condominium task force at the Calgary Real Estate Board. He can be reached at 403.370.4180 or calgaryism.ca
by CODY BATTERSHILL
of river parks and pathways? It’s hard to picture, considering many Calgary communities from north to south are intertwined with the Bow and Elbow Rivers which are part of the very essence of desirability these neighbourhoods have to begin with. But our rivers and what they offer are so much more than just a bonus characteristic for nearby communities. They are a focal point for our entire city; using our river parks and pathways has become second nature for many Calgarians. During all seasons, we use them for a multitude of activities, and they’re an especially great way to enjoy the summer. A day spent at Calgary’s river parks and pathways is well spent.
Once in a while, my mother would come home with a full backpack of things she bought during our day trips. She has a knack for shopping. Maybe that’s why we went down there in the first place. Who knows? But what we do know is that the convenience provided by the amenities found along the pathways of Calgary’s inner city can sometimes make your day, especially if you’ve forgotten a bottle of water on a hot summer’s day, and someone is thirsty!
I LOVE OUR RIVERS!
When I was young, my family and I lived nowhere near the rivers. At least once a week, we would spend a good portion of our day at the river parks and pathways doing a variety of family activities. It’s an excursion of sorts – where you reach your destination and know you’re going to have the best day ever. If you live in the inner city, getting to and from the rivers takes only a few minutes, and is easily doable without getting in a car at all. The same goes for singles and couples who use the rivers on a regular basis, living in the inner city means accessing the rivers is a breeze.
We are truly blessed to live in such a wonderful city like Calgary with beautiful rivers which contribute greatly to the enjoyable living experience many of us have. After all, who can imagine life in Calgary without our river parks and pathways? Not me!
WHAT WOULD CALGARY BE LIKE WITHOUT OUR NETWORK
Young urbanites who might not have a family yet and live in the inner city have the ultimate level of convenience when using the river parks and pathways. Getting in a cardio workout, going back to the inner-city condo, showering and meeting the friends – all in a short period of time becomes reality. AMENITIES
Those families who sometimes forget essentials such as water, snacks and cash on their river excursions – like mine did – do not have to worry, as the rivers in Calgary’s inner city are swarming with amenities and services. And a lot of them aren’t your typical convenience store, shop or café. They are some of the best there is in Calgary, where you will find the most delicious food, drink and sometimes other unusual oddities you never knew you wanted. 22 NEW HOME GUIDE | SEP 13 - OCT 11, 2013
›› CALGARYREGIONEAST CHESTERMERE CHESTERMERE
NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.
22X HERITAGE POINTE
04 B UFFALO HILLS (coming soon)
UILDERS: Prominent Homes B Douglas Homes, Klair Custom Homes Prominent Homes, Mapeland Homes
DEVELOPER: Mattamy Homes BUILDER: Mattamy Homes Sales centre 400 Westpark Dr.
1 AV. N
3 ST. E
2 AV. N
2 AV. S
1 AV. S
RAILWAY CR. RAILWAY AV.
DOUGLAS AV. COLWELL ST.
2 AV. N
LAGDON ODDFELLOW HALL
DEVELOPER: Harmony Park BUILDERS: Stepper Custom Homes, Carpenter Homes
02 H ANSON PARK
MAIN STREET LAGDON VANDERVELDE PL.
HENDERSON BY. HENDERSON RD.
TRAIL NESBITT CL.
01 B OULDER CREEK
HIGH TRAIL RIVER
RGE RD 27
DEVELOPER: Pollyco Developments BUILDERS: Stepper Custom Homes, Canterra custom homes, Sterling Homes, Lifestyle Homes, Douglas Homes, Westridge Homes, Broadview Homes
SHORES ON WESTMERE
DEVELOPER: Melcor BUILDERS: Homes by Avi, Albi Homes
CHESTERMERE 797 LANGDON
DEVELOPER: Melcor BUILDERS: Landmark Homes, Lifestyle Homes, Reid Built Homes
SHOWHOMES: 80 Westpark Crt., Rainbow Falls Manor DEVELOPER: Truman Developments BUILDER: Jager Homes, Lifestyle Homes, Beattie Homes, Lionsworthe Homes, Douglas Homes
DEVELOPER: Hanson Park Developments BUILDERS: Canaco Homes Ltd, Ovation Homes Ltd, Stepper Custom Homes Ltd, Douglas Homes
STRATHMORE T HE RANCH IN STRATHMORE
SHOWHOMES: 200 Ranch Downs DEVELOPER: United BUILDERS: Lifestyle Homes
WILDFLOWER RANCH IN STRATHMORE
DEVELOPER: Cancorp Property Group Inc. BUILDERS: Carpenter Homes, Paradyme Homes, Aquilla Homes and Canterra Custom Homes
LYALTA 03 T HE LAKES OF MUIRFIELD
SHOWHOMES: Muirfield Blvd. BUILDERS: Douglas Homes, Today’s Homes, Ribero Homes and Compass Rose Homes
SEP 13 - OCT 11, 2013 | NEW HOME GUIDE 23
Patio living by Brad Jackman
A Patio is an extremely versatile living space. If you love to entertain, a patio can become an extension of your kitchen. If chilling out and reading on a comfy lounger is more your thing, a patio is the perfect spot. Its design and shape often determine the flow of your yard. A professionally designed and built patio can provide many years of outdoor enjoyment. With a variety of high quality products and many different design concepts, a patio can be customized to complement any space. Homeowners are craving the need for privacy, and having a ground level patio provides your living space with function, intimacy and comfort. Natural Stone is the highest quality material to use for a patio, and can provide the look of a flush outdoor floor. Serenity, timelessness, balance, beauty and function are all traits of natural stone.
Landscape 360. Professional Landscape Construction. 24 New home Guide | sep 13 - oct 11, 2013
Paving stones are also an option that can be creatively incorporated into your space. Paving stones are more cost effective than natural stone and come in a wide variety of colors, textures and sizes. Concrete is a product which is extremely functional, low maintenance and cost effective. Concrete can be done with a brushed, exposed or stamped finish. All types of patios can follow curves and patterns or be very linear and simple. There are many different styles of patios that can be built. Wood work, rock, water features, fire pits, plantings and mulch are all products that can be carefully chosen to complement any style or size of patio. A consultation with your landscaper and a creative and functional design is the best place to start when considering what type of outdoor space will best suite you and your home. Clearly, there are many choices, and it pays to explore all your options carefully. More importantly, hiring the right company for the job will ensure you can relax on the patio of your dreams. A stylish, functional yard can create a vibrant feel to your home. Be the envy of the block and provide a sanctuary for your family, friends and pets. Landscaping improves your quality of life, the value of your home and adds a little personal flare. Landscape 360 is a fullservice landscape construction company. Our philosophy is based upon professionalism, quality, trust and respect. A locally owned and operated Calgary based company; Landscape 360 specializes in residential, estate and acreage landscape construction.
403.452.0360 | landscape360.ca |
like us on facebook sep 13 - oct 11, 2013 | New home Guide 25
TOWNHOMES WITH NO
Y. 1 A
HORSE CREEK RD.
CALGARY MITFORD PARK
›› COCHRANECOMMUNITIES RA
L DR . NHIL
02 JUMPING POUND RIDGE
SHOWHOMES: Jumping Pound Terrace www.jumpingpoundridge.com BUILDERS: WestView Builders, Kingsmith Homes
03 SUNSET RIDGE
SHOWHOMES: Ridge View Green Sunset Way DEVELOPER: Melcor BUILDERS: Jayman MasterBUILT, Innovations by Jayman, Janssen, Calbridge, Landmark Homes, Excel Homes, Homes by Avi SHOWHOMES: River Heights Blvd., River Heights Cres. DEVELOPER: Tamani BUILDERS: Phase 3: Innovations by Jayman, Sabal Homes Phase 4: Jager Homes, Jayman MasterBUILT, NuVista Homes
SHOWHOMES: Heritage Green DEVELOPER: Harmony Park BUILDERS: Stepper Custom Homes, Trico Homes,
01 HERITAGE HILLS
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1A BAIRD AVE.
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QUIG E RD.
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05 MONTERRA ON COCHRANE LAKE
SHOWHOMES: Monterra Link DEVELOPER: Medallion Development Corp. BUILDERS: Prominent, Modena, Cornerstone, Brooklyn, Astoria Custom Homes
06 WESTPOINTE ESTATES
SHOWHOMES: West Pointe Manor DEVELOPER: MGM Developments. BUILDERS: Mapleland Homes, Kingsmith Homes
LOCATION: Cochrane DEVELOPER: La Vita Land BUILDERS: Calbridge, Janssen, Kingsmith, Landmark, Reidbuilt www.firesidecochrane.com
SHOWHOMES: Horse Creek Road DEVELOPER: Apex Developments BUILDERS: Excel Homes www.heartlandcochrane.com
SEP 13 - OCT 11, 2013 | NEW HOME GUIDE 27
RANGE RD 40
HORSE CREEK RD.
SAVE $4 SAVE $4 BUY TICKETS ONLINE PROMO CODE: GUIDE
BUY TICKETS ONLINE *ON REGULAR ADULT ADMISSION
COURTESY OF PROMO CODE: GUIDE
*ON REGULAR ADULT ADMISSION
The Calgary Home + Design Show, where ideas, advice and inspiration all come together, for 4 days only! Find The Calgary Home + Design Show, where ideas, advice innovative products and shop great deals with over 350 and inspiration all come together, for 4 days only! Find retailers & industry experts. Satisfaction guaranteed – innovative products and shop great deals with over 350 or the price of admission is on us. retailers & industry experts. Satisfaction guaranteed – or the price of admission is on us.
MONS VALLEY ROAD
›› NORTHEASTCOMMUNITIES COUNTRY HILLS BLVD.
DE ER F
COUNTRY HILLS BLVD.
GAN NAP I
CALGARY INTERNATIONAL AIRPORT
L 80 AVENUE
NOSE HILL PARK
TR AI L
SHOWHOMES: Saddlelake Place NE DEVELOPER: Genesis Land Development Corp. BUILDERS: Genesis Builders Group www.genesisbuildersgroup.com
DEVELOPER: MLC Land Company BUILDERS: Elite Homes, Pacesetter Homes, Trico Homes
03 SKYVIEW RANCH
SHOWHOMES: Skyview ranch Way NE & Skyview Springs Gdn NE DEVELOPER: Walton Development and Management BUILDERS: Creations by Shane Homes, Innovations by Jayman, Beattie Homes, Morrison Homes, Excel Homes, Shane Homes, Pacesetter Homes, Lionsworthe Homes
DEVELOPER: Qualico Communities BUILDERS: Broadview Homes, NuVista Homes, Pacesetter Homes, Innovations by Jayman, Trico Homes
DEVELOPER: Mattamy Homes BUILDERS: Mattamy Homes
SEP 13 - OCT 11, 2013 | NEW HOME GUIDE 29
Tapping into homeownership for cash flow The prospect of retirement can be a double-edged sword. On the one hand, it appears to be a future filled with fun and freedom. On the other hand, it may seem like the day of reckoning is here. When you leave the workplace, will you have enough money to see you through the retirement you’ve always wanted? Indeed, as many as 50 per cent of all seniors surveyed recently said they believe their retirement savings will be exhausted within 10 years. This means that, for many, finding a creative solution will be critical for maintaining financial independence. How about this one? Stay in your home for as long as you like and, based on the real estate value, receive a cash flow to supplement your income. Here’s how it could work for you:
• If you have reached age 55, you may be eligible for the CHIP Home Income Plan from HomEquity Bank. It allows you to convert up to 50 per cent of the equity into tax-free cash. • Unlike other loans on the market, there are no credit or income qualifications, and you are not required to service the interest or repay the principal until you choose to move or sell. • It is also guaranteed that you will never have to repay more than the fair market value of the house at the time of the sale. When considering if this solution is right for your financial circumstances, you may be interested to know that a typical CHIP customer has an annual household income of less than $75,000, and 79 per cent of them had less than $250,000 saved for retirement. If this sounds a little like you, the CHIP reverse mortgage may be a good way to enhance your day-to-day cash flow. Ask a financial advisor or a mortgage broker for details – and additional information is also available online at chip.ca NC
›› AIRDRIECOMMUNITIES 01 BAYSIDE ESTATES
SHOWHOMES: Bayside Circle SW, Baywater Crescent DEVELOPER: Genesis Land Development Corp. BUILDER: Genesis Builders Group, McKee Homes, Coco Homes, Sovereign Homes www.genesisland.com
SHOWHOMES: Windsong Dr. DEVELOPER: Mattamy Homes BUILDERS: Mattamy Homes
SHOWHOMES: Reunion Street NW. & Reunion Grove NW DEVELOPER: Hopewell Residential Communities BUILDERS: Excel Homes, Sabal Homes, McKee Homes
04 KING’S HEIGHTS
1 YANKEE VALLEY BLVD
YANKEE VALLEY BLVD
SHOWHOMES: Kings Height Blvd. DEVELOPER: Melcor BUILDER: Jayman MasterBUILT, Loreck Homes, McKee Homes, Reid Built, Shane Homes
SHOWHOMES: Ravenswood Drive DEVELOPER: Qualico BUILDERS: NuVista, McKee Homes, Pacesetter, Broadview
06 COOPERS CROSSING
SHOWHOMES: Cooper’s Drive, Cooperstown Court DEVELOPER: Westmark Holdings BUILDERS: McKee Homes, Trico Homes, Vesta, Artigiano, Canterra Custom Homes, Crystal Creek Homes and Harder Homes
SHOWHOMES: Williamstown Green DEVELOPER: Vesta BUILDERS: Douglas Homes, Talisman Homes, Vesta
Developer: Apex Developments Builders: Excel Homes, Shane Homes, Trico Homes http://hillcrestairdrie.com
09 PRAIRIE SPRINGS
Builders: Prominent Homes, McKee Homes
SEP 13 - OCT 11, 2013 | NEW HOME GUIDE 33
Closet Stripe ST364.
$185 per 10m roll. FARROW-BALL.COM
the circumference of your TIPS: Iflampshade is greater than 52 cm, it’s best to use a stripe or plain pattern as you’ll need to turn the wallpaper on its side.
We’ve teamed up with paint and wallpaper experts Farrow & Ball to give you an inspiring do-it-yourself lamp project for your home! by SARA DUCK
LIGHTEN UP THE STEPS: 01 Measure the height and circumference of your shade. Cut out a piece of wallpaper to your shade dimensions, adding 2 cm to the diameter measurement. 02 Mix a small amount of wallpaper paste. Take a pasting brush and, starting from the seam on the lampshade, paste a section of around 20 cm. Don’t overload the brush or the shade – the paste can be very wet. 03 Line the edge of the wallpaper offcut up against the seam and smooth into
WHAT YOU WILL NEED
BEFORE YOU START:
Clear Wallpaper Adhesive by Dynamic.
Condor Wall Coating Brush by Simms.
+ place over the glued section of the shade – don’t press too hard or you may dent the shade. Adjust the wallpaper until it’s sitting flush with the top and lower edges of the shade as well as being aligned along the shade seam. 04 To avoid bubbles or crinkles, carefully brush from the centre of the shade to the outside edges using a clean, dry soft bristled wallpaper brush. 05 Leave to dry completely before fixing the shade to your lampbase.
Jonsbo Shade in Beige.
Detachable Scissors by Henckels.
$23. KITCHENSTUFFPLUS.COM 36 NEW HOME GUIDE | SEP 13 - OCT 11, 2013
YANKEE VALLEY BLVD. 8TH ST. SW
COUNTRY HILLS BLVD. NE
WAYNE KARL is an award-winning writer and editor with experience in real estate and business. In Fundamentally Speaking, Wayne explores the basics – such as economic fundamentals – you need to examine when buying property. He can be reached at email@example.com or follow him on Twitter at Twitter.com/WayneKarl
Preparing for higher rates THE DAYS OF ULTRA LOW INTEREST RATES MAY BE COMING TO AN END
by WAYNE KARL IT’S MID-SEPTEMBER, AND THE BANK OF CANADA
recently held its influential overnight target rate at one per cent, where it has been now for three full years. The Bank cites “significant slack in the Canadian economy,” and that “uncertain global economic conditions appear to be delaying the anticipated rotation of demand in Canada towards exports and investment.” Indeed, we’ve been spoiled by a low rate environment for the better part of five years. And even though many experts still don’t see rates rising notably until into next year and maybe 2015 – pointing to tenuous economic bellwethers such as spotty Prospective homebuyers or employment and wage existing homeowners, then, growth, and concerns about might want to consider international economies – ‘stress-testing’ your ﬁnances there’s reason to believe the now, rather than wait for tide is turning. To wit: BMO Bank of rate increases. Montreal and RBC Royal Bank have both increased their mortgage lending rates in the last couple weeks, mostly for fi xed rate products. Don’t be surprised if others follow suit, and the warnings from the BoC and elsewhere continue. Prospective homebuyers or existing homeowners, then, might want to consider preparing your finances now, rather than wait for rate increases. 38 NEW HOME GUIDE | SEP 13 - OCT 11, 2013
Here are some tips to consider: Larger down payment: The larger down payment you have when buying a home, the smaller mortgage you require and the less interest you pay over the life of the mortgage. And if you put down more than 20 per cent, you also avoid mortgage default insurance. Shorter amortization: The shorter the amortization, the less you pay in interest. Stress-test: Test your finances using a mortgage payment based on a higher interest rate to make sure you can absorb higher payments if rates rise. Mortgage prepayments: Prepaying when you can – weekly or bi-weekly instead of monthly – will save you thousands in interest over the life of your mortgage. The mortgage market is a complex beast, and as a prospective homebuyer, these are not lessons you’re going to learn overnight – nor do you likely want to. You’re focused on saving a down payment, getting your finances in order, searching potential neighbourhoods, choosing a home and, when buying new, selecting interior finishings. But also spend as much time as necessary to find a broker or banker you trust and who knows their business. More so than in any other area of homebuying, you’re going to rely on their advice – now more than ever.
offers great choice in King’s Heights by Heather Ryan
ith a wide selection of home styles and lot types to choose from and a gorgeous showhome to visit, Shane Homes has a lot to offer new-home buyers in King’s Heights in Airdrie. “There are 16 fabulous models that people can build with Shane Homes in King’s Heights,” says Cindy Klassen, co-area manager with Karen Kotchar, noting the homes offer great standard features, stylish designs and numerous optional layouts to suit the needs of differing buyers. “We also have an array of lots available that are up to 42-ft. wide and are typically 110-ft. deep,” she says. “We’re actually building in three phases, so people can choose what they want including pie-shaped lots, walkouts, lots that back onto greenspace or the canal and we have south and west facing backyards.” Among the models offered in King’s Heights the showhome, the Orion, is a 1,964-sq.-ft., two-storey with front double attached garage and it is one of Shane Homes most popular homes. “People love the functional, comfortable design and they really love the decor in the showhome; it’s very eye-catching,” Klassen says. “We’re getting such a great response to the design that a number of buyers are duplicating it completely.” 40 New home Guide | sep 13 - oct 11, 2013
The Orion’s serene dark and light contemporary colours “are really appealing to people; they feel they can move in right away and feel at home and they love the spacious feel.” “We get lots of positive comments about the kitchen, which is perfect for those who love to cook,” she says. “They also love the ensuite and the built-in entertainment centre in the bonus room.” From the entry, you’re greeted by a bright and spacious feel from the nine-ft. ceilings to the grand view through to the rear of the home. The foyer also has room for a bench or hall table and there’s a nice corner niche adding a decorative touch. At the rear of the home, the kitchen boosts the wow factor with light-toned granite countertops that are beautifully offset by dark cabinets and the granite-
topped level island offers ample space for food prep and breakfast bar seating. The kitchen also serves up a cool tile backsplash with decorative inlay and stainless steel appliances, including a cook top range and built-in wall oven. Across from the kitchen, the great room is warmed by a corner fireplace surrounded in tile and topped with a niche. Adjacent to the kitchen, the large nook ensures plenty of room for casual or formal dining. A corner door in the kitchen opens to the walk-through pantry, which leads to the mudroom and garage entry. A convenient half-bath is located between the garage and front entries. Upstairs, the owners’ suite presents a spacious retreat and a luxurious ensuite with granite-topped vanity with dual sinks, corner soaker tub, separate granite-topped make-up vanity, walk-in shower and a large walk-in closet. Down from the owners’ suite are two good-sized bedrooms, the main full bath and laundry room. The bonus room impresses with its wall-to-wall built-in entertainment centre, multiple windows and exceptional space. Kotchar, who lives in King’s Heights, says “it’s a very nice family-friendly community where you can get to know your neighbours; it has that peaceful small town feel, yet you’re close to all the amenities you want.”
It’s also well-designed with parks, pathways, canals, a future school site and off-leash dog park and is within walking distance to the Kingsview Market, which has a grocery store, Tim Hortons, restaurants and services, and it’s minutes from CrossIron Mills mall. “King’s Heights is also a great value; you can get the same size home or larger for less money than Calgary, yet you’re a quick commute to the city,” she says. For more information on the Shane Homes models and lots available in King’s Heights, visit the Orion showhome, at 1187 King’s Heights Rd., open Monday to Thursday, 2 to 8 p.m., and weekends, noon to 5 p.m., call 403.536.2303 or visit shanehomes.com
sep 13 - oct 11, 2013 | New home Guide 41
›› SOUTHEASTCOMMUNITIES 36 STREET
9 DERSON ROAD
CL D. VO R BLV
130 AV ENU E
SPRUCE MEADOWS HWAY
NE T LOR F O UIS 5 of NOTE: Map is just a graphic representati onRQ of areas of developments. See ad MA a particular project for more details. SHERIFF KING STREET
JAMES Mc KE
FISH CREEK PARK
FOO T TR
1 CRANSTON AVE. SE
SHOWHOMES: Cranarch Landing DEVELOPER: Brookfield Residential BUILDERS: Albi Homes, Shane Homes, Cardel Homes, Cedarglen Homes, Trico Homes, Discovery Homes, Landmark Homes, Baywest Homes, Brookfield Homes www.livecranston.ca SHOWHOMES: Walden Terrace SE DEVELOPER: Genstar BUILDERS: Cardel Homes, Innovations by Jayman, Excel Homes, Homes by Avi, California Homes, Avi Urban
GLENMORE TRAIL BARLOW TRAIL
SHOWHOMES: Copperpond Heath SE and Copperpond Blvd. SE www.copperfield.ca DEVELOPER: Hopewell Residential Communities BUILDERS: Excel Homes, Sabal Homes, Stepper Custom Homes
ELBOW DRIV E
SETON BLVD SE
SHOWHOMES: Mahogany Boulevard SE & Mahogany Heights SE DEVELOPER: Hopewell Residential Communities BUILDERS: Jayman MasterBUILT, Sabal Homes, Stepper Custom Homes, Trico Homes, Homes by Avi ESTATE SHOWHOMES: Mahogany Manor SE BUILDERS: Baywest Homes, Calbridge Homes, Morrison Homes www.mahoganyliving.com
06 McKENZIE TOWNE
DEVELOPER: Brookfield Residential ELGIN VILLAGE SHOWHOMES: McKenzie Towne Dr. SE, Elgin Meadows Green SE., Elgin Estates View SE BUILDER: Cardel Homes, Albi Homes, Cove Properties, Cardel Lifestyles, Brookfield Homes, Avalon Master Builder www.livemckenzietowne.ca
07 NEW BRIGHTON
SHOWHOMES: New Brighton Dr. SE DEVELOPER: Brookfield Residential BUILDERS: Shane Homes, Cardel Homes, Trico Homes, Cedarglen Homes, Morrison Homes, Homes by Avi, Innnovations by Jayman, Brookfield Homes www.livenewbrighton.ca
08 CHAPARRAL VALLEY 10
9 01 AUBURN BAY
SHOWHOMES: Auburn Shores Way SE & Auburn Springs Blvd SE, Auburn Bay Blvd. SE, Auburn Sound Manor SE, Auburn Bay Gardens, Auburn Shores Landing DEVELOPER: Brookfield Residential BUILDERS: Brookfield Homes, Cardel Homes, Cedarglen Homes, Baywest Homes, Jayman MasterBUILT, Albi Homes, Morrison Homes, Discovery Homes, Inspire by Jayman www.liveauburnbay.ca
SHOWHOMES: Chaparral Valley Drive SE & Chaparral Valley SQ DEVELOPER: Genstar BUILDERS: Cardel Homes, Jayman MasterBUILT, Innovations by Jayman, Cardel Lifestyles, Homes by Avi, California Homes
09 QUARRY PARK
SHOWHOMES: Quarry Landing SE, Quarry Parkway SE. DEVELOPER: Remington Corporation BUILDERS: Cardel Homes
DEVELOPER: Westcreek Developments BUILDERS: Stepper Custom Homes, Albi Homes, Trico Homes, Excel Homes, Sterling Homes, Creations by Shane Homes
SEP 13 - OCT 11, 2013 | NEW HOME GUIDE 43
So many reasons to buy a Cedarglen Home
Reason #2 : Our Landscaping Package comes included in our Exclusive Phases. Offered in Cedarglen’s exclusive areas of Auburn Bay, New Brighton and Riverstone, our landscape package comes with sod, fencing, trees and shrubs. Let us handle the dirty work while you spend time enjoying your new home. new brighton 403.257.2162
starting in the $430’s
auburn bay 403.252.9040
starting in the $450’s
starting in the $450’s
riverstone of cranston 587.352.3590 starting in the $610’s
This is a marketing document and subject to change. In the event of a dispute between this document and a contract, the contract will prevail. E&OE. Revised and effective 08/2013
IT’s WhErE LIfE hAppENs A community is not just a place where you live5 It’s a place where memories are made3 experiences are shared3 and people and families grow – together5 It’s where you have everything that you need and want at your fingertips5 Brookfield communities are built with that in mind – by blending the energy and amenities of urban living with the calm and beauty of green spaces and parklands5
Find your place at livebrookfield.ca LiveBrookfield
gorgeous estate homes in Walden Park by Heather Ryan
ew-home buyers who desire an estate home with incredible features and a larger lot without the high price tag are loving Cardel Homes’ newest offering in of Walden Park. Located in the south community of Walden, Walden Park is an estate community of single-family homes and Cardel Homes is the semi-exclusive builder in the area. “The lots in our current phase are on cul-de-sacs backing onto greenspace or have west facing backyards and they’re fairly deep lots,” says community sales manager Paul King. “Our next phase will also have walkout lots, so there is a great selection available. “Walden Park has highest standard of architect controls in Walden with exterior features that include Hardie Board, stucco, stone and brick,” King says. “All homes are required to have exposed aggregate driveways and front steps and we provide front yard landscaping and irrigation. The elevations and exteriors create a very urban fusion, contemporary look; so it all provides for awesome curb appeal and ensures lasting value. “This estate community is also probably the most affordable, with homes starting at just $515,000 for over 2,200 sq. ft.; that’s unheard of 46 New home Guide | sep 13 - oct 11, 2013
and we’re getting a great response from buyers who love the price, the homes and the area,” King says. Cardel is offering eight to 10 different models in Walden Park, including the feature home – Hawthorne III, which starts at 2,675 sq. ft. and is priced from $549,900 including lot and GST. The Hawthorne III presents a huge foyer that is open to above creating a spacious feel. Just down the hall is a private den and across from it is a large formal dining room. The Lshaped kitchen has a walk-in corner pantry and there is an option to make it into a butler’s pantry with direct access to the dining room for ease of serving meals. The kitchen comes with a large island, granite countertops, stainless steel applianc-
Homebuyers have a variety of options to choose from with the Hawthorne III, including creating a tech space in a walk-through pantry, adding his and her vanities in the ensuite, enlarged great room and partial covered rear deck, to name a few. es, full-height backsplash and 42-in. cabinets – all standard. A dining nook is across from the kitchen and there is a bumped out great room with wall-centred fireplace flanked by windows. Nine-ft. ceilings and hardwood floors on the main floor are also standard, and buyers have the option to have nine-ft. ceilings in the basement and on the second floor and a 12-ft. ceiling in the great room. Upstairs, there are three generous sized secondary bedrooms, a full bathroom, a large bonus room, laundry room and a spacious master bedroom with ensuite that includes a soaker tub, walk-in shower and huge walk-in closet. Homebuyers have a variety of options to choose from with the Hawthorne III, includ-
ing creating a tech space in a walk-through pantry, adding his and her vanities in the ensuite, enlarged great room and partial covered rear deck, to name a few. They also receive $10,000 to spend in the design centre on upgrades allowing them to further personalize their home. “The size, price and specifications for the Hawthrone III are unmatched; we’re building a big, beautiful family home for an unbelievable value,” King says, noting this feature home can be seen as a showhome in Evansview at 8 Evansview Manor N.W. “Our customers are professional couples and those with young families who want the space to grow and love the quietness of the area, the parks and pathways. “They also love the walkability, they can stroll to a Starbucks, Shoppers Drug Mart, four restaurants and a pub at the Gates of Walden and a Saveon-Foods grocery store is opening soon,” King says. “It’s also a great location close to Macleod Trail and all the amenities and the LRT at Somerset.” For more information on models Cardel builds in Walden, visit the 2,445-sq.-ft. Arriva 2 showhome, open Monday to Thursday, 2 to 8 p.m., and weekends and holidays, noon to 5 p.m., call 403.984.9107 or visit cardelhomes.com
sep 13 - oct 11, 2013 | New home Guide 47
of CRANSTON RIDGE
48 NEW HOME GUIDE | SEP 13 - OCT 11, 2013
Quality, efficiency found in today’s new homes
Donna Moore Executive Officer, Calgary Region Home Builders’ Association 403.235.1911 | crhba.com
by Donna Moore
You’ve finally made the choice to buy a new home,
so what can you expect? New-home buyers today will discover they can get a home that is well built and comes with features and a layout designed to meet your lifestyle needs. In essence, you’ll get a comfortable home that you and your family can enjoy for many years to come. The wide range of construction technologies, products and materials used by new home builders today ensures unparalleled quality and performance. Canada has a reputation for building excellence and the continuous evolution of home-building technology reflects the industry’s commitment to quality and efficiency. As a result, today’s new homes are being built better than ever with more comfortable living environments than ever before. New-home buyers can discover more about what goes into their new home when they talk to their builders about the construction, systems and products they use. Builders will gladly provide information about the homes they construct, explaining items such as advantages and benefits of certain products, cost implications, environmental considerations, energy efficiency and durability. There are a variety of construction methods, from wood framing to concrete that home builders are utilizing in the Canadian marketplace and the Calgary region. For centuries, wood has been the primary building material for Canadian homes and home builders have perfected the art of wood-frame construction. New wood-frame homes incorporate high levels of insulation, air barriers to stop leaks and drafts and vapour retarders to control moisture. Newer products on the market can ensure even higher efficiency than the standard code provides if buyers include the upgrades in their budget. As a result, homebuyers can enjoy increased comfort, energy efficiency and a home that is environmentally sound. Some other methods of construction include the engineered wood frame design where instead of being cut from timber, the studs and joists that form the structure of the home are manufactured from wood fibres that are fused together under high pressure. As well, steel framing that has been used in commercial construction for many years is now being used in some residential construction. And, some home builders are trying different methods, such as using insulating concrete forms for full, seamless walls from foundation footings to the roof. 50 New home Guide | sep 13 - oct 11, 2013
Many builders in the Calgary region are using the latest in innovation and energyefficient products and materials available on the market in order to provide homes that will ensure cost-savings for their buyers. For example, as new homes have become more eco-friendly, it takes less to heat them, so today’s furnaces are compact and energy efficient. As well, new integrated systems combine space heating and hot water heating in one piece of equipment – highly energy and space efficient. In-floor radiant heating, which had mostly been a luxury feature found in just high-end homes, is gaining in popularity for bathrooms and basements in both single-family homes and condominiums. Major advances have also been made in windows in both the framing materials and in the insulating spacers between glass layers, which result in improved energy performance, fewer drafts and far less condensation in cold weather. Good ventilation is also a key factor when it comes to having a healthy, comfortable home. Heat recovery ventilators are a common feature in many homes, continuously providing fresh air to the home while recovering heat from the exhaust air. An energy recovery ventilator also helps maintain proper humidity level in the air. Many builders in the Calgary region are members of BuiltGreen, providing buyers with energy-efficient homes and using ecofriendly materials, building methods and products as standard. So when it comes to construction quality, home comfort, energy efficiency and environmental considerations, today’s new homes have it all.
There’s no app for this.
disconnect from the everyday
With a pond-side plaza featuring an outdoor kitchen and ﬁre pit, Watermark at Bearspaw was designed as a place to get away from it all – without leaving home. Named Community of the Year by the Canadian Home Builders’ Association, Watermark at Bearspaw features luxury homes from Calgary’s ﬁnest builders, estate lots from one quarter to one acre, unparalleled amenities the whole family can enjoy, and easy access to parkland, the foothills and the Rocky Mountains. It all adds up to a community where coming home means reconnecting with the moments that really matter. Custom or quick possession homes beginning at $1.2 Million. ReconnectAtWatermark.com
NEY TRAIL TO
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SA RC EE
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NOTE: Map is just a graphic representation of areas of developments. 17 AVENUE
01 PANORAMA HILLSproject for more details. 04 SAGE HILL See ad of a particular
10 Hanson Ranch
SHOWHOMES: Sage Hill Point NW, Sage Valley Park NW, Sage Hill 11 Milano Green NW Showhomes: 99 Panatella Hill NW BUILDERS: Excel Homess, Trico Builders: Trico Homes Homes, Morrison Homes, Discovery Homes, Baywest Homes, Homes by Avi
02 ROYAL OAK 05 NOLAN HILL Showhomes: Hidden Creek Blvd. NW
DEVELOPER:Developer: Birchwood Properties DEVELOPER: United Communities Cedarglen Homes | Cardel Homes esis Land Development Corp. | BUILDERS: Birchwood Properties BUILDERS: Homes by Avi, Morrison x Developments Builders: Genstar Homes, Shane Homes, Sterling on Homes | Majestic Homes | 03 EVANSTON Homes, Today’s Homes, Trico Homes, Homes | Centrex Homes SHOWHOMES: Evanspark Circle NW DEVELOPER: Qualico BUILDERS: Broadview, NuVista, Trico Homes, Pacesetter Homes, Sterling Homes, Jayman MasterBUILT
SHOWHOMES: 8 Evansview Manor DEVELOPER: Genstar BUILDERS: Cardel Homes, Acuri Homes
SHOWHOMES: Sage Meadows Circle NW DEVELOPER: Genesis Land Development Corp. BUILDERS: Genesis Builders Group, Passion Homes, Reid Built Homes, Today’s Homes www.genesisbuildersgroup.com
11 VALLEY POINTE ESTATES
DEVELOPER: Melcor BUILDERS: Shane Homes, Reid Built Homes, Landmark Homes, Homes by Avi
12 BEARSPAW WILLOW CREEK
BUILDERS: Astoria Custom Homes, Hyatt Homes, Laratta Homes, Mckinley Masters Custom Homes
13 WATERMARK AT BEARSPAW
SHOWHOMES: Panatella Blvd. NW, Panatella Square NW, 9 CityLife Panora Way NW Showhomes: 2003 20th Ave. DEVELOPER: Genstar Developer: Birchwood Properties BUILDERS: Homes by Avi, Cardel Builders: Excel Birchwood Properties Homes, Landmark, Homes, Arcuri Homes
SHOWHOMES: 150 Kincora Glen Rd. DEVELOPER: Melcor BUILDER: Excel Homess
10 SAGE MEADOWS
E DR IV
SHOWHOMES: Tuscany Estate Rise NW DEVELOPER: Brookfield Residential BUILDERS: Albi Homes www.tuscany-community.com
EE SAR C
Y NTR COU
12 COULEE MILE ROAD
ROCKY RIDGE ROAD
5 Kinkora Glen Rd. NW
scany Estates Rise NW ma ark Homes | Albi Homes
COUNTRY HILL S BLVD.
LV R ID GE D
gulf Cidex Homes/Intergulf Cidex
erwood Crescent NW
AN AG SH
esis Development Corp. ic Homes
07 TUSCANY HILLSIDE ESTATES
144 AVE. NW
28 Sherwood Blvd.
Creations by Shane Homes, Jager Homes www.nolanhillunited.com
06 BEACON HEIGHTS
SHOWHOMES: Sherwood Crescent NW DEVELOPER: Intergulf Cidex BUILDER: Trico Homes, Intergulf Cidex
DEVELOPER: Macdonald Development Corporation BUILDERS: Astoria Homes; Albi Homes, Trickle Creek Homes, Wolf Custom Homes www.watermarkatbearspaw.com
DEVELOPER: Dundee Developments BUILDERS: DS Homes, Homes by Avi, Genesis Builders Group, Landmark Homes, Morrison Homes, Innovations by Jayman, Westview Builders, Stepper Custom Homes, Calbridge Homes, Excel Homes
15 ROCK LAKE ESTATES
DEVELOPER: Decker Management BUILDERS: Ashton Custom Homes, Crystal Creek Homes, Lupi Luxury Homes
16 ROCKFORD ESTATES - TRAIL’S END BUILDER: Jager Homes
DEVELOPER: Melcor BUILDERS: Shane Homes, Homes by Avi, Genesis Builders Group
SEP 13 - OCT 11, 2013 | NEW HOME GUIDE 53
CGY-CMP-1360 -EV_ NHG_FP_SEPT 2013-7.5X10.5-EVANSVIEW SING TAO AFFORDABLE LUXURY AD
Affordable luxury lives in Evansview
The northwest haven of Evansview offers panoramic views of Symons Valley and easy access to shops, parks and pathways.
Panorama Rd NW
on ey Tr N
Creekside Shopping Centre
Symons Valley Pkw y N W
Not to mention fully landscaped estate-style homes in an exclusive Cardel neighbourhood.
Built for real life. CARDELHOMES.COM
OVER 75% SOLD Prices subject to change without notice. E&OE.
Sales Centre: 8 Evansview Manor NW
Call John Mortier at 403.256.7902 Sales Centre Hours: Mon – Thurs: 2 pm – 8 pm Sat, Sun + Holidays: 12 pm – 5 pm Closed Fridays 55
great communities in northwest Calgary by Heather Ryan
or more than 20 years, Genstar Development Co. has had a foothold in Calgary’s northwest, transforming desirable land sites into welcoming master-planned communities that offer a family-friendly atmosphere and a variety of home styles, amenities and streetscapes that provide lasting value for homebuyers. Over the years, Genstar has developed the highly popular communities of Coventry Hills and Harvest Hills, and is now developing Evansview and moving into the last phases in Panorama Hills – all of which present great locations and outstanding details with great entry features, parks, pathways, playgrounds, ponds, school sites, shopping and more. In Evansview, Genstar is developing an exclusive enclave of upscale homes with only 140 sites. A number of the lots offer great views of Symons Valley and back onto the escarpment and the West Nose Creek environmental reserve, says development manager Patrick Briscoe. Cardel Homes is the exclusive single-family builder in Phase 1, crafting a variety of styles with a range of features that appeal to buyers looking for a higher-end product. Cardel, which has two showhomes, is offering a terrific price point starting from the mid $400,000s.
56 New home Guide | sep 13 - oct 11, 2013
Arcuri Homes is the exclusive builder in Phase 2, and it has an amazing showhome delivering an executive move-up home that presents incredible details and a great design. “They’ve created an estate feel on a 38-ft. lot with prices starting from the $600,000s,” Briscoe says. Homes in Evansview feature Craftsman, Prairie and European Traditional architectural styles, and coupled with quality building materials, they create a very dramatic streetscape that is really appealing to buyers. Genstar has also crafted an upgraded entry feature that makes a statement for Evansview, and the community offers an abundance of greenspace. Pathways link residents to nearby shops, services, restaurants and a Co-op grocery store at the Creekside shopping centre, which is within a 10-minute walk or just a few minutes drive away. Residents are also a short drive from CrossIron Mills shopping mall and shopping in Country Hills and Beacon Hills. Panorama Hills is now moving into the final two phases so buyers are nearing the last opportunity to get into one of Calgary’s best-selling communities. In Phase 60, builders Cardel Homes and Excel Homes are crafting singlefamily homes with double front-attached garages and some of the lots back onto amenity space.
In Phase 61, there is a collection of lots with some backing onto Nose Creek environmental reserve with single-family, front-attached garage homes by Cedarglen Homes, Excel and Shane Homes. In the multi-family market, Cardel Lifestyles’ offers apartment-style condominiums at Panorama West, which is getting close to the end. One of the key attractions to Panorama Hills is it’s an established community with already developed schools, parks, pathways, tot lots and a nearby golf course. And many people love the community’s natural setting that includes Beddington Creek, which meanders through the area, neighbourhood ponds, rolling valleys and plentiful greenspace. Panorama Hills is also home to an eCommunity Centre offering leisure and recreational facilities, including a private residents’ building. The landscaped grounds feature a water spray park, playground and park space, a picnic area, a beach volleyball court, a hard court play area with basketball hoops, a skating area and more. Residents also appreciate having the convenience of local shopping with the Gates of Panorama Hills, which offers a mix of shops, services and restaurants and a Save-on-Foods grocery store is expected to open later this year.
One of the key attractions to Panorama Hills is it’s an established community with already developed schools, parks, pathways, tot lots and a nearby golf course. There is also a wide range of amenities just minutes away in Country Hills, including major big box retailers, grocery stores, coffee shops, restaurants, a multi-screen cinema theatre, recreation centre, library and more. Residents in both Evansview and Panorama Hills have easy access to major routes such as Stoney Trail, Country Hills Boulevard and Deerfoot Trail. For more information on these communities visit the showhomes, open Monday to Thursday, 2 to 8 p.m., and weekends and holidays, noon to 5 p.m., or visit evansviewliving.ca or panoramaliving.ca
sep 13 - oct 11, 2013 | New home Guide 57
The finishing touches
by kara kuryllowicz
Virtually every buyer has a budget. the aesthetic appeal of your home or condo and pride of ownership, but buy- When it’s time to sell, if your upgrades ers need to make strategic selections that also improve functionality and help force you to price your home or the unit stand out in a positive way at resale. condo above comparable properties, “Be smart, temper your inner designer and keep your upgrades neutral, or yours might not pop up in realtors’ the extra money you’ve put into the upgrades will vanish at resale,” says Brad searches, let alone be considered J. Lamb, president, Brad J. Lamb Realty in Toronto and Lamb Development for a viewing. However, provided Corp. “Personal statements, such as bright red, yellow or green kitchen cabi- your pricing is competitive, your upnets, will take much longer to sell and you’ll take a big haircut on price.” grades could give your unit the edge Whether you plan to stay in your home for five or 15 years, chances are you’ll over those equipped with just the eventually sell the place, so the return on your investment must be considered. standard finishes. It’s virtually guaranteed you’ll recoup the premium you’ll pay to be up on a “Quality finishes will catch the eye higher floor, because buyers typically look up before they look at the interior of the more discerning consumer, but finishes. However, it’s impossible to predict what, if any, reward will be reaped most buyers get caught up in the furon upgrades. The reality is that most people upgrade because they want to feel niture,” Lamb says. “You’ll spend less fabulous every time they look around their condo, and they’re equally commit- and reap greater rewards if you save that ted to impressing family and friends. Even functionality tends to be a second- money to paint your walls something ary consideration. Unfortunately, the upgrades’ impact on resale value is rarely other than white and have the unit protop of mind, although it’s something every condo buyer should think about if fessionally staged for resale.” money matters to them. The range and cost of finish up“It’s all about the aesthetics and impressing everyone – functionality doesn’t grades varies widely from developer come into it at all,” says Tim Huxley, lead sales consultant at Streetside Homes to developer, with some installing in Calgary. “You’re most likely to get the best return on kitchen and bathroom what would typically be considered upgrades, where appliances, countertops and backsplashes offer plenty of visual upgrades as standard in every unit, impact for your dollar.” Finishes, lighting and appliance upgrades enhance
C O N T I N U E D on p a g e 6 0 . . .
58 New home Guide | sep 13 - oct 11, 2013
Old World Traditions
MODERN LIVING WWW.NOLANHILLSHOWHOMES.COM
HOMES BY AVI | MARKET STREET HOMES | MORRISON HOMES | SHANE HOMES | STERLING HOMES | TRICO HOMES
including a high-end glass bac splash, gas lines for barbecues on balconies and gas stoves in kitchens. Others offer just a handful of relatively standard upgrades, such as stainless steel appliances, hardwood floors and granite countertops. Some developers take it up a few notches with medicine cabinets, wall-mounted ovens, front-loading washer/dryer, bathtubs with jets, a TV/ iPad/surround-sound package, stone sinks, extra-thick granite counters, faucets with spray nozzles that accommodate mega-sized soup pots, and even second parking spaces. “It’s your dream home and you’ll be living there, but you don’t want your equity vanishing,” Lamb says. “Upgrade just enough to make your new home look and feel good.” Ask yourself how the average person will react to that countertop or soaker tub as you remember that many buyers will go for a great location over the upgrades. How practical/functional and relevant is it really? How many homebuyers will actually see it as a must-have versus a nice-to-have feature? Although it’s widely accepted that it’s virtually impossible to keep stainless steel appliances fingerprint free, homebuyers don’t care because they look so good. While many like the feel of carpet in bedrooms, many buyers today actually prefer hardwood due to environmental sensitivities. “Carpet is bad for allergies and collects dust and bacteria,” says Karen Reimann, a realtor with Re/Max Hallmark. While many will love that sleek, sexy oversized shower stall, that upgrade makes resale sense only if there is a tub in another bathroom. Meanwhile, seemingly dull upgrades, such as additional wall sockets and extra pot or track lighting, are affordable and can be a re-selling point everywhere from the living room and kitchen to the bedrooms, den and home office. Condo builders and developers typically charge two to five times what homebuyers would pay to buy and install everything from hardwood floors to undermount sinks and valance lights to rain-shower heads. While some industry insiders suggest that’s unfair, others point out that consumers are willing to pay for the convenience and accompanying warranties as well as the single point of contact in the form of the condo manager. “Buyers appreciate that we’ve done the research, narrowed the selection down to the most appropriate options, and deal with the various trades to coordinate and oversee the installations,” says Stephanie Butler, manager of sales and marketing at Amacon, which has projects under development in Vancouver and in Mississauga, Ont., and offers custom upgrades like an iPad entertainment system including suite surround sound. “Investors who plan to rent out the units tend to spend less on upgrades than buyers who plan to live in their units.” Because consumers often commit to their new condos and upgrades 12 to 36 months before taking possession, Lamb suggests homeowners specify the products, brands and manufacturers or the equivalent in the contract: “Memories fade and perceptions change over time, so use the contract to get what you paid for.” 60 New home Guide | sep 13 - oct 11, 2013
A Northwest Community
Come join the party, meet your neighbours, the community.
Whole Family Fun
Kool 101.5 Live
Dance & Mus
Come join us this Saturday, September 14th for a fun-ďŹ lled day exploring the community of EvansRidge. You and your family can tour all the new show homes while taking part in a scavenger hunt celebrating the new school site in EvansRidge. Kool 101.5, The H*ppy Truck and M&M Meats will be on hand, along with dancers and classes from Soul Connextion. All activities will be stationed in the park on Evansborough Way.
NEW SHOW HOMES NOW OPEN Mon - Thur 2pm - 8pm, Sat, Sun and Holidays Noon - 5pm Please check our website for maps and addresses of our show homes.
Symons Valley Parkway
Evanston Dr. NW
Evanspark Blvd NW
Future school in community! New K-9 Catholic School is slated to open in EvansRidge in 2016
IN THE MARKET FOR A
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.
13-02-26 4:50 PM
Do You Know
how you rate? by JASON ELDRIDGE
Since the downturn of the economy about five years ago, financial institutions and various credit adjudicators have tightened the reins on their lending policies, and in particular, pay much greater attention to an individual’s past credit experience than ever before. Nowhere has this been more evident than in the mortgage industry. With foreclosures at historic levels, most lenders, insurers and their investors have reduced their product offerings, while at the same time, they have placed considerably more emphasis on a client’s credit (beacon) score when making their final decision. However, there are a number of things you should know, not only when it comes to you qualifying for a specific credit product, but also in maintaining a good credit rating in general. Due to the level of fraudulent activity that is occurring in the world today, it is prudent that you check your credit report on an annual basis to ensure that all account information that is contained in the report is accurate. There are two main credit report providers in Canada: Equifax and Transunion. These providers can be accessed online at econsumer.equifax.ca and transunion.ca, respectively. When applying for credit, it is important that you don’t apply to several different banks or financial institutions within a short time of each other. Each time you do, it is referred to as a “hit,” and this may result in your score dropping enough to prevent you from qualifying for that particular credit product. In the case of purchasing a home or refinancing your existing property, it is beneficial to use the services of a mortgage broker as we typically access your credit report once, and supply it to the various financial institutions for review. If you access your own credit report by contacting either Equifax or Transunion directly, this does not represent a “hit” on your file and therefore does not impact your score. In order to get your score as high as possible, you may want to consider doing the following. It is best to make at least the minimum
payment required for that particular credit card or line of credit each month. If possible, keep your balance(s) at or below 75 per cent of your credit limit(s). In the event that you are either late with a payment or your account has gone to collection, it is vital that you bring the account up to date as soon as possible. You would be amazed how much your score will drop if you are so much as 30 days late on an account regardless of how much or how little that minimum payment required is. The good, the bad and the ugly stay on your credit report for a minimum of six years. In situations where there has either been serious delinquency or a bankruptcy in the past, it can be very difficult to reestablish one’s credit rating. One of the easiest ways to do so, however, is to get a cash secured credit card. It is recommended that you get a limit of at least $1,500, which means you need to pledge at least that much money as security. In order to qualify for a mortgage, you need to have at least two credit products with a minimum of a $1,500 limit, and they need to have been open for at least a year with no repayment issues. If you hold the card for a year and continue to make the minimum payment each month, you will find your credit score will go up significantly. This same approach may be used in situations where a client doesn’t have any credit whatsoever. Individuals with no credit history are often viewed in the same light as those clients with bruised or poor credit ratings because there is no previous credit to base their decision upon. As always, I welcome any questions or comments you may have regarding the information contained in my articles. Until next month…
Jason Eldridge P.F.P, B.Admin Mortgage Specialist, Axiom Mortgage Solutions (formerly Unisource Mortgage) Cell 403.630.1718 Fax 866.708.5807 Email firstname.lastname@example.org Web/apply online jason.axiommortgage.ca sep 13 - oct 11, 2013 | New home Guide 63
HomeBuyersâ€™ Resource Section You love the home, see what you can afford!
Compare mortgage rates for your best deal
Calculate your mortgage payments using the mortgage payment calculation chart
calculate youR mortGaGe Payments CALCuLATe YouR moRTGAGe PAYmeNTS MONTHLY PRE-TAX Income
dIvIde By 3
SPOUSE’S PRE-TAX Income
affordaBle montHly Payments
amount of mortGaGe dIvIded By 1,000
estImated montHly TAXES & HEAT
TOTAL PRE-TAX Income
amount of mortGaGe (PRICE – DOWN PAYMENT)
moRTGAGe PAYmeNT CALCuLATioN ChART Interest rates %
aMoRtiZation peRiods 5 yrs
follow tHese stePs to see If you’ll QualIfy for a mortGaGe on youR dReaM HoMe
Calculate the combined monthly before-tax income of you and your spouse.
Multiply this figure by the amount you need to borrow. Divide by
Divide by three. This figure is the monthly payment you can afford to make on your home.
Add to this your estimated monthly heating costs and monthly property taxes.
Take the total price of the home and subtract the amount of money you expect to make as a down payment. This is the money you will have to borrow.
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.)
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 home. 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.
Mortgage INterest rates VARIABLE
All mortgages are of two basic types:
Bank of Montreal
Bank of Nova Scotia
Conventional The buyer can borrow up to 80% of the purchase price or the value of the property, whichever is less. The buyer has to pay 20% down. A conventional mortgage cannot exceed 80% of the value of the property.
Canadian Western Bank
Canadian Western Trust
First Calgary Financial
First National Financial
HSBC Bank Canada
Investors Group Trust
Laurentian Bank Canada
President’s Choice Fin’l
Royal Bank of Canada
Servus Credit Union
Steinbach Credit Union
Peace Hills Trust
T-D Mortgage Your Neighbourhood C.U.
Prepared by CANNEX on September 5, 2013. This information is current as of the date and time posted and is subject to change without notice. © Copyright 2013 CANNEX Financial Exchanges Limited. All rights reserved.
66 New home Guide | sep 13 - oct 11, 2013
Insured or High-Ratio: A buyer can borrow up to 95% of the purchase price or the value of the property, whichever is less. The down payment can be as low as 5%.
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. Open mortgage: Allows borrowers 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 shortterm mortgage at high interest rates to a longer term when mortgage interest rates fall. Closed mortgage: Usually has the lowest interest rate available but lacks the flexible features of other mortgage options. 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: 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.
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Published on Sep 11, 2013