APR 21 - MAY 19, 2017 VOLUME 25, ISSUE 4, FREE
EDMONTON EDITION
New_Condo_Guide_cover_31Mar17.indd 1
INSIDE THIS ISSUE
5 TIPS TO MAKE THE MOST OF YOUR SMALL SPACE
INVESTORS: TAKE THE ROAD MOST TRAVELLED
BUDGET-FRIENDLY SPRING STYLE UPDATES
2017-04-05 1:22 PM
NOW OPEN
IN SPRUCE GROVE
UNDER NEW
MANAGEMENT A GEN U I N E SENSE OF COM MUN I T Y Heritage Creek is a Active Adult gated community in Spruce Grove, ideal for snowbirds, empty nesters and retirees. Heritage Creek is located just minutes from modern, natural and social conveniences such as shopping & restaurants, forested, all-season walking trails and our prized private amenity building. With these conveniences right in your neighbourhood, casual walks will be a daily event. Info Centres are located at 50 Heatherglen Drive, Spruce Grove and the hours are Monday to Thursday 1-6 PM and Saturday, Sunday & Holidays 1-5 PM.
Participating Home Builders:
Christenson Group
Marcson Homes
Shirley Lumme ShirleyL@cdlhomes.com 780-297-9707
Krista Galenzoski kgalenzoski@marcsonhomes.com 780-571-1704
HeritageCreek.ca
MORE TIME MORE CHOICE
MORE FREEDOM The Name In Active Adult Living With 45 years of experience creating award winning multi-family urban villages for adults and seniors, Christenson Group of Companies has been providing Edmonton and surrounding area with more than just a home.
FINALIST FOR 2 AWARDS
ETON PARK ESTATES 5001 Eton Boulevard, Sherwood Park 780.410.0004 • EtonPark.ca • Granite Counter-Tops • Air Conditioning • 9’ Ceilings • Fitness Room • Social Room • Many Occupancy Options Available
K WAULT E OILABL
FINALIST FOR 2 AWARDS
VILLAS AT LACOMBE PARK 31 Legacy Terrace, St. Albert 780.903.2465 • LacombePark.ca • Spacious Open Floor Plans • Vaulted Ceilings • Finished Basements • Granite Countertops • Custom Cabinetry • Hardwood & Ceramic Flooring
AVA
RIVERS EDGE VILLAS 3090 Cameron Heights Way, Edmonton 780.554.8342 • TheRiversEdge.ca • Exclusive Location • Finished Basements • 6 Appliances • Spacious Floorplans • Hardwood & Ceramic Floors • GST Included
Info Centre Hours are Monday to Thursday 1-6 PM and Saturday, Sunday & Holidays 1-5 PM.
CDLhomes.com
Building Luxury Lifestyle Communities in the Edmonton area since 1980. abbeylanehomes.com
Suite 200, 10568 109 Street NW Edmonton AB T5H 3B2 780.425.2884
AbbeyLaneHomes
@AbbeyLaneHomes1
info@abbeylanehomes.com
587-524-0259
780-930-1518
APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 5
“I feel safe and my family always feel welcome.”
7 SHOW HOMES DUPLEX AND LANED HOMES From $305s Morrison Homes | Montorio Homes
SINGLE FAMILY HOMES From $440s Montorio Homes | Morrison Homes Landmark Homes
walkersummit.com Surround yourself with friends and activities, and the freedom to capture those special moments with the most important people in your life. Live life your way, in the community you know and love.
6 SHOW HOMES TO VIEW
Single Family Homes from $370,000 Pacesetter Homes | Caliber Master Builder Southwoods Village North in Edmonton Ph: (780) 975-2509 Duplex Homes from $342,900 Landmark Homes Townhomes from $310,000 Pacesetter Homes
Learn more at cdlhomes.com
6 YPNEXTHOME.CA
AT HAZELDEAN VILLAGE
8 YPNEXTHOME.CA
Web Directory BUILDERS/DEVELOPERS Abbey Lane Homes Addison Condos Californian Parkland
BUILDERS/DEVELOPERS www.abbeylanehomes.com www.theaddisonoffwhyte.com www.vipliving.ca
Carrington Communities
www.carrington.ca
Cascade Luxury Condos
www.cascadecondos.ca
Centurion Townhomes Christenson Developments Ltd. Coventry Homes Daytona Homes Master Builder Encore Tower Footprint Developments Fox Two Grovenor Manor
www.centuriontownhomes.com www.cdlhomes.com www.coventry-homes.com
www.grovenormanor.com
Homes by Avi
www.homesbyavi.com
Park Homes
www.landmarkgroup.ca www.langbuilthomes.com www.parkhomes.ca
www.secordchalet.com www.secordcorners.ca
Secord Corners
www.solaraliving.ca
Solara at Skyview
www.staffordgreens.com
Stafford Greens
www.symphonytower.ca
Symphony Tower
www.edmontoncondo.com
Tessco Incorporated
The Vermillion
www.foxtowers.ca
www.rohitcommunities.com
Secord Chalet
www.encoretower.com www.footprintdevelopments.ca
www.parkwoodmasterbuilder.com
Rohit Communities
The Leger
www.grandedesign.ca
Lang Built Homes
Parkwood Master Builder
www.daytonahomes.ca
Grande Design Homes
Landmark Group
Find your next condo online, it’s easy!
www.brass3.com www.vermillioncondos.com www.rushesofsouthfork.ca
The Rushes of Southfork
www.signatureambleside.com
The Signature
www.ultimatower.ca
Ultima
RELATED BUSINESS Canadian Home Builders’ Association – Alberta
www.chbaalberta.ca
Canadian Home Builders’ Association – Edmonton
www.chbaedmonton.ca
Dangie K-9 Service Inc. Your Condominium Security Specialists
››
www.dangiek9services.com
If you wish to advertise your Web site in our Web Directory please call 587-784-4044
APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 9
Everything including the kitchen sink.
Coventry gives you even more reasons to love townhome living:
Double Detached Garage • 6 Appliances • Landscaping • Basement Rough-In all with the freedom of no condo fees, ever!
Now building in Griesbach Move-in-ready townhomes available in Laurel Crossing
with a new school and community lake, right in your backyard.
Visit our showhomes or
coventry-homes.com/Townhomes for more details.
10 YPNEXTHOME.CA
Affordable
down payments
DO EXIST
(Unfortunately unicorns do not!)
Just $1,000 can get you into a Brookfield Townhouse! With the Brookfield Down Payment Plan. Home ownership can become a reality sooner than you think! Our sales teams will put together a monthly payment plan that will help you own a new home in one of our three townhouse
projects in south Edmonton. You can reach your goal of owning your home while still enjoying the lifestyle you’ve grown to love!
One more reason you can believe in Brookfield.
Why wait any longer to own your home? Make an appointment with our team today!
brookfieldtownhomes.ca
contents APR 21 – MAY 19, 2017 | VOLUME 25 ISSUE 4
58
+ online NEIGHBOURHOOD
HOME SEARCH
MORE +PHOTOS +VIDEOS +ADVICE +INSPIRATION +TRENDING
MAPS
12 YPNEXTHOME.CA
trending
9
Web directory
24 Housing market
14
Editor’s note
22 Neighbourhood profile 29
WITH
DYNAMIC
in every issue
LOOK FOR THE CIRCLE
What’s online
Spring thaw continues in Edmonton housing market
36
Housing trends
Canada’s looming shortage of “family-friendly” housing
46 Homebuyers’ help
Survey says more Canadians are buying homes solo
APR 21 - MAY 19, 2017 VOLUME 25, ISSUE 4, FREE
ON THE COVER
20
EDMONTON EDITION
Carrington Communities
VICE PRESIDENT & CHIEF PUBLISHING OFFICER
Caroline Andrews PUBLISHER & GENERAL MANAGER
Shawn Woodford DIRECTOR OF SALES
Moe Lalani SENIOR MANAGER, CONTENT
Jennifer Reynolds SENIOR EDITOR
Lydia McNutt ART DIRECTOR
Megan Pike New_Condo_Guide_cover_31Mar17.indd 1
INSIDE THIS ISSUE
5 TIPS TO MAKE THE MOST OF YOUR SMALL SPACE
INVESTORS: TAKE THE ROAD MOST TRAVELLED
BUDGET-FRIENDLY SPRING STYLE UPDATES
CONTRIBUTING EDITORS
2017-04-05 1:22 PM
48 Economic update
Rising oil production makes Alberta fastest growing provincial economy in 2017
50 Top list
10 scenic places to visit in Alberta
56 Investment advice
Investors, take the road most-travelled by Yan Gurevich
58 Style file
Budget-friendly spring style updates
Sonia Bell Wayne Karl Elisa Krovblit
SALES REPRESENTATIVES
Shelby Biggs 587.357.7402 Natalie Houghton 587.226.1313
NATIONAL CIRCULATION MANAGER
John Jenkins
by Jo Alcorn
54 Budget 2017
Housing a priority, but still falls short by Wayne Karl
advice
PRODUCTION MANAGER
30 Insider insight
PRODUCTION CO-ORDINATOR
Government plans and rebates to help reach your home-ownership goal
Helen Pearce Hannah Yarkony GRAPHIC DESIGNERS
Miguel Cea Mike Terentiev
by Debbie Cosic
44 Fundamentally speaking
How to avoid your own moving horror story
PO Box 458. Station Main, Edmonton, AB T5J 2K ypnexthome.ca
by Wayne Karl
47
Inspiration
Small-space survival guide by Lydia McNutt
district maps 15 Edmonton 19 Southwest 23 Southeast 25 Leduc 27 Sherwood Park 31 North East 33 Fort Saskatchewan 35 St. Albert 37 North West
24
39 Downtown 45 South Central 49 West
ADVERTISING
Call 587.784.4044 for advertising rates and information. CIRCULATION
Highly targeted, free distribution system aimed at real estate buyers using street level boxes and racking, plus door-to-door insertions in key audience segments. COPYRIGHT 2017
All rights reserved by Yellow Pages Homes Limited. Reproduction in any form is prohibited. Contents of this publication are covered by copyright and offenders will be prosecuted under the law. TERMS
Advertisers, editorial content and New Condo Guide are not responsible for typographical errors, mistakes or misprints. All prices are correct as of press time and are subject to change without notice. E. & O. E. EDITORIAL
Submissions from interested parties will be considered. Email submissions to the attention of the editor at lydia.mcnutt@ypnexthome.ca. The views and data expressed by columnists do not necessarily represent those of the publication.
51 Spruce Grove APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 13
Editor’s Note
Important questions and answers
LYDIA MCNUTT Senior Editor Yellow Pages NextHome Email: Lydia.McNutt@YPNextHome.ca Twitter: @LydiasTweets
Is it a buyer’s or seller’s market? Will prices rise? What will happen to mortgage interest rates? If you’re in the market to buy a home, these questions could be keeping you up at night as you try to find one over-arching answer – is now a good time to buy a home? While it’s a good idea to pay attention to the headlines and all the accompanying advice – professional and otherwise – take it with a grain of salt. Nobody can predict with certainty what the future of Edmonton’s housing market holds. And while the picture may look a certain way from a national, provincial or city-wide perspective, what happens from one street to the next, from one price range to the next, and in your specific circumstances can differ dramatically. So, back to the million-dollar question: is now a good time to buy? Only you have the answer. Take an honest look at your financial situation. Review your assets and debts, including mortgage (current and expected payments on your new place), car loans, lines of credit, student loans and other bills. Are you secure in your job? Are you planning to grow your family? Only you know when the time is right. Buying a home is a big decision and a huge commitment. The first step is figuring out your reality and where your comfort level lies. With a little forethought, you’ll be better equipped to make the right decision.
WINDERMERE
READ MORE ONLINE Windermere is a safe, friendly and welcoming community with an abundance of modern amenities, many walking trails and nearby golf courses. Windermere offers a well-rounded lifestyle, and a place for families to grow and flourish. Read the full story… nexthome.yp.ca/windermere
+ get social 14 YPNEXTHOME.CA
Interact with us on social media: ypnexthome
RAY GIBBON DR.
MA RK
ME SS IER
TR AIL
T ER LB
MERIDIAN STREET (0 St.)
A ST.
137 Ave.
AIL TR
DR.
Lessard Road DR.
QE II
James Mowatt Trail
127 St.
141 St.
170 St.
Cameron Heights Drive
*LEERQV
Interchange
28A
EDMONTON & REGION Check Each Area District Map For More Information
&DOPDU
SEARCH ONLINE ypnexthome.ca
APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 15
16 YPNEXTHOME.CA
APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 17
looking for a new home? It’s only a tap away.
Find the perfect new home or condo in the neighbourhood that fits your lifestyle.
START SEARCHING NOW!
DOWNLOAD THE APP 18 YPNEXTHOME.CA
SOUTH WEST
South West Edmonton
104 St. Calgary Trail North QE II
51 Ave.
119 St.
40 Ave.
SOUTH
WHITEMUD DR.
34 Ave.
Rabbit Hill Road
1
14 13
Ellerslie Road
17
21
26 23
25
127 St.
141 St.
16
22
7 4
Anthony Henday Dr. Ellerslie Rd.
3
30 Ave.
6
50 St.
8 10
23 Ave.
Blackburne Drive
91 St.
24
MacEw an Road
Parsons Rd.
2
9 Ave.
2
101 St.
15
19 Ave.
Saddleback Rd.
Dr.
James Mowatt Tr.
14
91 St.
23 Ave.
Ha dd ow
18 20 11
66 St.
Lansdowne Dr.
105 St.
9
Belgravia Rd.
111 St.
North Saskatchewan River
Ter will ega rD r.
ay Dr. y Hend Anthon
Riverbend Rd.
Fox Dr.
113 St. 109 St.
76 Ave.
QUESNELL BRIDGE
41 Ave.
MAP LISTINGS 1 THE LEGER BY BRASS III DEVELOPMENTS
625 Leger Way 2 THE QUAY AT TERWILLEGAR BY ABBEY LANE HOMES
7021 South Terwillegar Drive 3 VISTAS AT CALLAGHAN NORTH BY ROHIT COMMUNITIES
2632 Bowen Way SW 4 ATRIA BY PARK HOMES
2803 James Mowatt Trail 5 ALLURE BY CARRINGTON COMMUNITIES
4042 MacTaggart Dr
6 ALLARD TOWNHOMES BY ROHIT COMMUNITIES
675 Allard Blvd SW 7 CANVAS TOWNHOUSES BY BROOKFIELD RESIDENTIAL
4470 Prowse Rd SW 8 BRIGHTON 4835 Wright Dr SW 9 RIVERS EDGE BY CHRISTENSON GROUP
3090 Cameron Hieghts Way 10 ELEMENTS AT WINDERMERE BY CARRINGTON COMMUNITIES
340 Windermere Rd. 11 GROVE ON 25TH TOWNHOUSES IN THE ORCHARDS BY BROOKFIELD RESIDENTIAL
3305 Orchards Link SW
12 CREEKWOOD LANDING BY CARLISLE GROUP
11804 - 22 Ave SW 13 E’SCAPES BY CARRINGTON COMMUNITIES
11080 Ellerslie Road 14 CROSSROADS OF RUTHERFORD BY STREETSIDE DEVELOPMENTS
1816 & 1820 Rutherford Dr 15 THE SIGNATURE BY WESTRICH PACIFIC
5151 Windermere Boulevard 16 GLENRIDDING HEIGHTS TOWNHOMES BY ROHIT COMMUNITIES
2351 Glenridding Blvd SW
17 ALTIUS GRAYDON HILL BY STREETSIDE DEVELOPMENTS
1005 Graydon Hill 18 THE SANDS BY BROOKFIELD RESIDENTIAL
4050 Savaryn Dr 19 BEARSPAW CROSSING BY LANDMARK HOMES
1508 – 105 St. NW 20 THE VILLAGE AT SUMMERSIDE BY PELHAM
24 TRIUMPH AMBLESIDE BY STREETSIDE DEVELOPMENTS
1115 Armour Link SW 25 LINK CONDOS AT ELLERSLIE BY REGENCY DEVELOPMENTS
11189 Ellerslie Road 26 VISTA POINTE IN CHAPPELE GARDENS BY BROOKFIELD RESIDENTIAL
2905 141 St SW
4203 Savaryn Dr SW 21 LANGDALE TOWNHOMES BY ROHIT COMMUNITIES
704 176 Street SW 22 PIVOT RUTHERFORD BY AVERTON HOMES
Ellerslie Rd & 119 St 23 CREEKWOOD CHAPELLE BY AVERTON HOMES
28 Ave & 141 St
APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 19 2 color CMYK: 2955PC + 550PC
Hurryin in and and ask how to to paypay Hurry howyou youcan canget getCarrington Carrington for your mortgagefor forup up to to 26 26 months!* months!* your mortgage
APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 21
Neighbourhood Profile
Windermere By Dajana Fabjanovich
Fast facts Average household income
$131,523
Most common housing type
Single-detached Family composition
FAMILIES
COUPLES
SINGLES
42%
39%
19%
Own vs. rent
MORE PHOTOS ONLINE
9%
nexthome.yp.ca/windermere
WINDERMERE IS A SAFE, friendly and welcoming community with an abundance of modern amenities. Because of this, residents can do their banking, grocery shop and pick up their prescriptions without leaving the community. It’s also an ideal neighbourhood for active homeowners who will appreciate its many walking trails and nearby golf courses. Windermere offers a well-rounded lifestyle and a place for families to grow and flourish.
The vibe One of Edmonton’s fastest growing neighbourhoods, Windermere brings all the amenities of a town into a suburban community, so residents can leave their cars at home and explore by foot. What makes the neighbourhood special is the abundance of greenspace, a mix of parks and numerous walking trails all in proximity to shopping, entertainment and dining opportunities. The community offers endless recreational opportunities in and around its vicinity..
22 YPNEXTHOME.CA
RENTERS
Meet the neighbours From singles and young families to empty nesters and retirees, Windermere is home to a variety of residents at every stage of life. According to the City of Edmonton’s 2012 Municipal Census, there are more than 2,100 people living in the community with most in the 25 to 39 and under 10 age range – making it a popular neighbourhood among the younger set. Planes, trains & automobiles Conveniently linked to two major thoroughfares, Anthony Henday Drive and Whitemud Drive, residents can easily access downtown and the rest of the city. The popular Terwillegar Recreation Centre, South Edmonton Common and the Edmonton International Airport are just a short drive away. For those without a vehicle, public transit is available during peak hours. Dollars & sense Although Windermere is a younger community, the neighhbourhood can
91%
OWNERS Education levels
51% UNIVERSITY
24% COLLEGE
25% HIGH SCHOOL SOURCE: ENVIRONICS
be considered an above average area to live in, although you can still find some great value and budget finds. Even still, unless you’re willing to live a lifestyle that’s affords a bit more than average luxury, Windermere may not be the right fit for you. Real estate A range of housing options are available for a variety of income levels, including apartments, duplexes, triplexes, fourplexes, townhomes, highrises, single-family and luxury homes from $200,000 to more than $3 million.
SOUTH EAST
South East Edmonton North Saskatchewan River
106 Ave.
101 Ave.
BASELINE RD.
98 Ave.
90 Ave.
ood Park Fwy. Sherw
17 St.
d. rR pe Ro
86 St.
63 Ave.
34 St.
. Rd yll Arg
50 St.
99 St.
76 Ave.
75 St.
83 St.
Whyte - 82 Ave.
Whitemud Fwy.
51 Ave.
38 Av e.
39 Ave.
8
43 Ave.
30 St.
4
5
Calgary Trail North QE II
91 St.
Millwoods Rd.
34 Ave.
1
2
23 Ave. Anthony Henday Dr. 216
91 St.
66 St.
1
9 10
50 St.
Parsons Rd.
3
101 St.
MAP LISTINGS
6
7
2
STONEHAVEN CONDOS
41 Ave.
5
9
SOUTHERN SPRINGS
BY ROHIT COMMUNITIES
BY PARK HOMES
812 Welsh Dr.
2845 - 43 Ave NW
655 Watt Blvd.
ARA
6
AURORA GREENS BY CARLISLE DEVELOPMENTS
7
#128 - 1510 Watt Drive
2215 – 24 St NW
ELEMENTS AT WILLOWHAVEN
10
THE VILLAGE AT WALKER LAKES BY LANDMARK HOMES 804 Walsh Drive SW.
BY CARRINGTON COMMUNITIES 5521- 7 Avenue SW
LAUREL LANDING BY LANDMARK HOMES
ALTIUS TAMARACK BY STREETSIDE DEVELOPMENTS 1530 Tamarack Blvd.
4008 Savaryn Dr. SW
4
LARKSPUR LANDING
BY LANDMARK HOMES
BY CARRINGTON COMMUNITIES
3
Ellerslie Rd.
8
ASPEN MEADOWS BY LANDMARK HOMES
43A Ave. & 23 St.
SEARCH ONLINE ypnexthome.ca
APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 23
Trending
Spring thaw continues in Edmonton housing market MORE INVENTORY FOR HOME BUYERS,
more homebuyers for home sellers: this is the sunny spring forecast from the Realtors Association of Edmonton. According to the Association’s latest figures, Edmonton home sales were up 31.8 per cent in March compared to February, with 1,474 MLS-listed properties changing hands in the Edmonton area. While March typically marks the start of a busier real estate season, this number is also up 1.8 per cent year-over-year. New listings were also up in March, at 3,080, up 26.7 per cent compared to February 2017 and increase of 1.4 per cent in March 2016. “We generally see activity in the housing market start to increase at this time of year,” says James Mabey, chair of the Realtors Association of Edmonton. “Buyers can look forward to more inventory to choose from and sellers can count on more buyers in the marketplace.” 24 YPNEXTHOME.CA
MORE TRENDING ONLINE ypnexthome.ca/news
Average prices are increasing in all categories compared to February 2017. The all residential average unit sales price was $371,680, which is up 3.1 per cent. The average price of a single family home was $439,139, which is an increase of 3.0 per cent. Duplexes and rowhouses increased 0.41 per cent, to an average sale price of $348,806. Relative to March 2016, the average selling price of a single family home increased 0.49 per cent and the average selling price of a duplex/rowhouse increased 3.2 per cent. Condominium average prices increased to $242,632, an increase of 3.86 per cent compared to February 2017. Unit sales of condominiums also increased, from 357 in February to 398 in March. “It is promising to see positive
movement in the condo market. We have seen a large increase in both new and resale inventory, so it is good to see sales starting to follow suit,” says Mabey. Overall, average DOM for all residential properties in March was 57, which is a decrease from 65 days in February 2017, and an increase compared to March 2016 at 53 average days. Condominiums average DOM decreased from 74 days in February 2017 to 67 days. Duplex/ rowhouses average DOM decreased as well, from 80 days in February 2017 to 62 days in March, which was identical to March 2016. Single family homes decreased from 58 days in February 2017 to 50 days in March, which was one day longer than March 2016 at 49 days.
lvd .
Leduc
48 St.
50 Ave.
50 St.
Grant MacEwan Blvd.
High way 2
rt B Bridgepo
Telford Lake
Black Gold Dr. Black Gold Dr.
Dr. Park South
St. 50
1
Hig hw ay
Rollyview Rd. 2A
Dr. Southfork 2
Simpkins Wynd
MAP LISTINGS
1 WINDROSE BY LANDMARK COMMUNITIES
61 Windrose Drive 2 THE RUSHES OF SOUTHFORK BY HUNTER RESIDENTIAL DEVELOPMENTS
401 Southfork Drive
WELCOME TO LEDUC The City of Leduc, a thriving Industrial, Commercial & Agricultural Community continues to experience growth and expansion. A great place to call home! POPULATION 39,000 and growing “Small city” living within minutes of “Big city” amenities
SCHOOLS 7 Elementary, 2 Junior & 2 Senior High - Public, Private & Separate school systems
LOCATED 20 kilometers south of Edmonton on Hwy. 2
GROCERY Variety of shopping
RECREATIONAL FACILITIES Black Gold Recreation & Culture Centre, Performing Arts Centre, 18 hole Golf Course & Public Library
MEDICAL FACILITIES Full Service Community Hospital and Full Ambulance service PARKS & PATHWAYS 27 parks including Telford Lake, Fred John’s Park & Lions campground
For more information contact The City of Leduc (780) 980-7177
SEARCH ONLINE ypnexthome.ca
Affordability
THE
ADVANTAGE!
by HUNTER RESIDENTIAL DEVELOPMENTS
2 bedroom, 2.5 bathroom townhomes with attached garage from $264,900!
To book a viewing of the new show suites please contact Kit at 587-896-6107 EMAIL kit@rushesofsouthfork.ca WEB www.rushesofsouthfork.ca
APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 25
Buy your dream home
& get thousands in
! K C A B H S A C *
Learn more today! 1-855-757-2275 | ComFree.com *How it works: ComFree Commonsense Network keeps an amount of $2,000 from the commission it receives from the seller’s brokerage and splits the remaining balance equally with the buyer. No cash back if the commission received is lower than $2,000 or if it’s a ComFree seller. Available in serve regions only.
26 YPNEXTHOME.CA
SHERWOOD PARK
Sherwood Park 16 Emerald Dr
Co mm o
n Dr S
Cra n Wa ford y
Sherwood Dr
Broadmoor Blvd
Summerwood Dr
Da vi Dr dso n
n Dr N mo om
Davenport Dr
Cranberry Dr Dr Crimson
Jim
l Dr Bethe
Broadw ay Bvld
21
Primrose Bvld Meadowview Dr
Baseline Rd
Granada Blvd
Dr Brentwood Blvd
d Sherwoo
y Wa
Jim C
ron ma Bison Way Cim
Cr an Dr ford
Shivam Rd
Broadview Rd
Dr
Summerland Dr Summerwood Blvd
rkdale Dr Cla
216
Lak ela nd
Bethel Way
Pretroleum Way
1 2 5
Asp e Trail n
Campbell Dr
Buckingham Dr
Streambank Ave
Clover Bar Rd
y Way Amberle
Da w Dr son
Premier Way
Strathmoor Dr
Strathmoor Way
y on Eb lvd B
Strathmoor Way
3 4
Eton Blvd
Pembina Rd Strathmoor Dr
Wye Rd.
MAP LISTINGS
1 SUMMERWOOD DUPLEXES
4 REFLECTIONS
BY ROHIT COMMUNITIES
BY CHRISTENSON GROUP
100 Axbridge Gate
111 Festival Way. Sales centre 5001 Eton Blvd.
2 ASPEN PARK BY ABBEY LANE HOMES
Axbridge Gate off of Lakeland Dr. 3 ETON PARK ESTATES
5 ASPEN TRAILS DUPLEXES BY ROHIT COMMUNITIES
100 Axbridge Gate
BY CHRISTENSON GROUP
5001 Eton Blvd.
SEARCH ONLINE ypnexthome.ca
APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 27
iL fe ode “It’s nice to come home to a place where my neighbours are my friends.”
à la
M
It’s a new level of freedom, convenience and flexibility. Whether you’re looking to buy or rent, Eton Park Estates lets you live life your way.
Reeling in the catch of the day at the lake. Cooling off at the spray park. Eton Park Estates at Emerald Hills, Sherwood Gathering friends at the ball diamond. Live a life that’s always in fashion. Live Ruisseau in Beaumont.
Park Ph: (780) 410-0004
Featuring Homes by Look Master Builder | UrbanAge Homes Coming Soon
Learn more at cdlhomes.com
Visit our showhome today. Move in tomorrow. | ruisseau-beauMont.coM
H
©
28 YPNEXTHOME.CA
What’s Online
Trending now The latest real estate news from across Canada
Renovate or relocate?
The quest for energy-efficient homes continues
READ THE STORY ONLINE nexthome.yp.ca/renovate-or-relocate
READ THE STORY ONLINE nexthome.yp.ca/energy-efficient-homes
Put some spring into your home READ THE STORY ONLINE nexthome.yp.ca/spring-decor
How one developer finds his next ‘hot spot’
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READ THE STORY ONLINE nexthome.yp.ca/choosing-location
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Visit our website: APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 29
Advice | INSIDER INSIGHT
Government plans and rebates to help reach your home-ownership goal By Debbie Cosic
MORE ADVICE ONLINE ypnexthome.ca/news/advice
MOST PEOPLE HAVE had it with hearing about how difficult is it to become a first-time homeowner in Canada. The media paints such a bleak picture, it’s enough to scare anyone out of the market, let alone a first-time buyer. It’s definitely tough out there but if you truly want to become a homeowner, I suggest plenty of planning, saving and researching – it may sound overly simplistic and corny, but it’s true. Since your home is likely your largest lifetime investment, it’s important to consider how you can save and maximize every dollar you put into it by understanding your options and planning ahead. In addition to the below list of programs available to you, I suggest you go online to see what may work for your personal situation in the particular region you’re looking to buy in, as different provinces have different programs. Good luck!
» Land Transfer Tax (LTT) Refund Did you know that as of January 1, all eligible first-time homebuyers in Ontario can claim a Land Transfer Tax (LTT) refund of up to a maximum of $4,000? And, there’s more. There are actually several rebates and tax refunds available to first-time buyers across Canada. Google can be your best friend when it comes to finding them. » The Home Buyer’s Plan Canadian first-time homebuyers can take advantage of the Home Buyers’ 30 YPNEXTHOME.CA
Plan (HBP). What is it? The HBP allows you to withdraw $25,000 your RRSP – interest-free! – to put toward your down payment. This is an excellent way to beef up your down payment while ensuring you still have some funds socked away for your retirement in the long run. What makes it even sweeter is that your spouse can also do this, for a total of $50,000! That’s a hefty down payment. Keep in mind, any home priced over $500,000 requires a down payment of more than just five per cent. Be sure to find out what your down payment requirement is. If you’ve been contributing to an RRSP regularly, you have a distinct advantage, but if you haven’t, here’s a tip I found online – If you and/or your spouse each have $25,000 for a down payment saved up, and still had enough room in your RRSPs for a contribution of that amount, consider moving your savings into an RRSP at least 90-120 days before your closing date. Then, take the money and put it toward the Home Buyers’ Plan. Why? Your contributions of $25,000 each will net you a tax deduction that year. Use any tax refund you receive to pay down the RRSP. Keep in mind you do have to pay any amount you borrow back to your RRSP eventually, but you get 15 years’ grace to do that. Since you want
growth in your portfolio, you should be mindful of getting the funds back in there as soon as possible. This is an excellent interest-free vehicle but be sure to talk to a financial advisor beforehand. He or she will be able to counsel you as to whether it makes financial sense for you to forgo the growth benefits of your RRSP if you do not expect to pay back the funds in a timely manner. To qualify for the HBP, you and your spouse must not have lived in a home owned by either person for five years prior to using the HBP. You can learn more about this plan by visiting the Canadian Revenue Agency website at cra-arc.gc.ca/hbp/ There are several other rebates available. For example, check out the First-Time Homebuyer’s Tax Credit and the GST/HST New Housing Rebate programs and watch this space for more tips and ideas. Debbie Cosic, CEO and founder of In2ition Realty, has worked in all facets of the real estate industry for over 25 years. She has sold and overseen the sales of more than $15 billion worth of real estate. With Debbie at its helm, In2ition has become one of the fastestgrowing and most innovative new home and condo sales companies. In2ition has received numerous awards from the Building Industry and Land Development Association and the National Association of Home Builders.
NORTH EAST
North East Edmonton 8 M Fo ANNIN GF rt WY. Rd . 34 St.
3 ve. A 7 3 1
Rd .
137 Ave.
Fo rt
132 Ave.
95 St.
121 Ave.
. Ave d. 112 Blv a Ad
CAPILANO BRIDGE
MAP LISTINGS
1 TOPAZ BY PARK HOMES
70-8318 180 Ave. 2 ELEMENTS MANNING BY CARRINGTON COMMUNITIES
142 Ebbers Blvd. NW 3 SAVIDA BY LANDMARK HOMES
3650 - 139 Avenue NW 4 NORTHSHORE
BY CARRINGTON COMMUNITIES
5510 Schonsee Dr.
38 St.
120 Ave. 118 Ave.
58 St.
122 Ave.
Hooke Rd. Hermita ge Rd. YEL LOW HEA DT RAI L 34 St.
129 Ave.
127 Ave.
20 St.
2
Victoria Tr.
50 St.
66 St.
87 St.
144 Av e.
151 Ave.
. Ave 144
22 St.
9
1675Ave.
7
82 St.
97 St.
. 160 Ave . e v A 153
195 Ave.
4
91 St. 1
104 Ave. North Saskatchewan River
5 ELEMENTS AT MCCONACHIE BY CARLISLE GROUP
167 Ave. & 53 Street 6 KERNOHAN RAVINES BY LANDMARK HOMES
9 CY BECKER DUPLEXES BY ROHIT COMMUNITIES
118 Cy Becker Blvd. 10 KIRKNESS BY LANDMARK HOMES
415 Clareview Rd.
415 Clareview Rd. 7 ALTIUS CRYSTALLINA BY STREETSIDE DEVELOPMENTS
17832 78 St. 8 ALTIUS CY BECKER BY STREETSIDE DEVELOPMENTS
165 Cy Becker Blvd.
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APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 31
Canadian
PROPERTY INVESTOR
Vancouver | Toronto | Ottawa | Calgary | Edmonton
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Available at these locations: • YP NextHome street boxes
• Airport lounges • Transportation hubs
• Newspaper insertions
• Selected retail racks
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FORT SASKATCHEWAN
Fort Saskatchewan 37
ive r
St
99 Av e
89 94 Av e
21 t for uth So
88 Av e
e Av 86
Range Rd 224
98 Av e
1
St 94 Dr
94 Ave
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Wes t
116 St
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MAP LISTINGS
We stp a Blvd rk
k Lin o d brid ge
Township Rd 543
e Av 92
87 Ave
Dr rk pa
Wo
86 St
15
98 Ave
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Ave 95a
83 Ave
e Av
ve 97 A
Ave 96
84 Ave
113 St
99
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ka Sas rth No
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112 St
St 101
99
e Av
85 Av e
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15
Township Rd 544
Sou thfo Blv rt d
d Blv Wilshi re
1 CLIO BY PARK HOMES
#94th St Southfort Drive
WELCOME TO FORT SASKATCHEWAN A quiet, friendly, family oriented community. “Move in Next Door... Neighborly Fort Saskatchewan”.
POPULATION Over 24,000 LOCATED Adjacent to the northeast boundary of the provincial capital, the City of Edmonton & 30 km from downtown Edmonton SCHOOLS 6 Public Schools, 3 Separate Schools, 1 Christian School
GROCERY Co-op, Safeway, No Frills, Wal-Mart Supercentre, M&M Market, Giant Tiger RECREATIONAL FACILITIES Dow Centennial Centre, Tennis courts, campground, golf courses, bowling lanes, baseball diamonds, indoor pool, outdoor ice rinks (2), curling rinking, indoor soccer, gymnasium, fitness centre
MEDICAL FACILITIES Hospital, local ambulance, 5 medical clinics PARKS & PATHWAYS 360 hectares of park/recreational/ natural land with 29 km of paved trails for walking, running, biking, rollerblading & cross-country skiing
For more information contact (780) 992-6200 or visit our website at www.fortsask.ca or e-mail: info@fortsask.ca
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APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 33
Get involved with Sage! Sage is a non-profit seniors’ serving organization, offering a wide range of programs that enhance the quality of life for seniors in Greater Edmonton. Get involved with Sage! Take advantage of the many resources, programs and services. Explore a variety of volunteer opportunities. Consider supporting at-risk seniors by making a charitable donation. Sage has been serving seniors in your community for over 40 years.
Visit www.MySage.ca or call 780-423-5510!
ST ALBERT
St. Albert ros e Dr.
Keil lor Dr.
Sturg eon Rd .
e. Poirier Av
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BY CHRISTENSON GROUP
BY CHRISTENSON GROUP
St. Albert Trail & Ridge Drive
88 Lacombe Drive
2 BOTANICA BY BOUDREAU DEVELOPMENTS LTD.
105 Bellerose Drive 3
ud re au
e. Av ill h c ur Ch
Av e. 184 St.
Levasseur Rd.
MAP LISTINGS
Bo
Sir
Ga te
n eo rg u t S
5 inston W
er Riv
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170 St. Gerva is
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Ave. ny cKen
ron Per
Lacombe Dr.
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TO MORINVILLE
5
GRANDIN PARC VILLAGE BY AMACON
104-5 St. Louis Street (Off Grandin Road)
THE LINX BY CHRISTENSON GROUP
88 Lacombe Drive
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APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 35
Trending
Canada’s looming shortage of “family-friendly” housing THERE’S A QUESTION looming over every homebuyer, seller and real estate watcher in Canada: what’s behind the housing affordability crisis? While rising prices have become problematic in Vancouver and Toronto, where the “average” home is now priced well into the millions, it’s an issue that deserves national attention. Indeed, the Canadian Home Builders’ Association (CHBA) did an indepth analysis and identified some key factors behind current housing market conditions. The research report, The Housing Supply Deficit – Not Enough Homes for Families with Young Children, points to a significant and growing mismatch between housing demand and what home builders are able to supply, given planning and zoning patterns and the lack of available serviced land. The report also comes with a warning: if current trends continue, Canada will see a shortfall of 300,000 family-oriented homes in the next 10 years. According to CHBA’s data, demographic factors are driving demand for lowrise houses suited to young, first-time home-buying families, as Canada experiences a “baby boomlet.” Simultaneously, aging Baby Boomers and older Canadians are not downsizing from their detached homes in the numbers predicted, opting instead to agein-place. In fact, many Boomers are actually trading up to larger single-family units, creating a morepronounced shortfall of lowrise homes. “There has been a lot of commentary around what’s driving house prices in markets like the GTA and Vancouver. Much of this overlooks 36 YPNEXTHOME.CA
MORE TRENDING ONLINE ypnexthome.ca/news
the fundamental factors of supply and demand, and the increasing number of young families trying to achieve home ownership,” says CHBA CEO Kevin Lee. “CHBA’s research shows that current patterns of urban development fail to address the needs of young families... There is a distinct lack of higherdensity, ground-oriented homes they can afford, such as townhomes, stacked towns and similar housing formats. This is the ‘missing middle’ in our largest and fastest-growing communities,” Lee adds. The effects of the lowrise shortfall are further amplified by supply constraints, including lack of infrastructure and developable land, development restrictions, NIMBYism, and municipal policies favouring highrise development.
Canada has seen a 27-per-cent drop in the construction of lowrise homes since 2007. The fastestgrowing markets are experiencing a much more dramatic decrease. There is a particular shortage of higher-density, lowrise attached homes offering access to transit, which increasingly represent the “missing middle” of urban housing stock. “In markets experiencing strong economic growth and in-migration, these supply factors are a big part of what is fueling rapid price appreciation within the groundoriented housing segment. While some observers look for other explanations, and there are indeed other contributors, the ‘law’ of supply and demand remains pervasive,” Lee adds. “What we are seeing is the Millennial generation really struggle to find a place to live and raise their families in our largest cities, and this has worrying longerterm implications for them, these communities, and the economy at large. “Although there has been a lot of focus on trying to dampen prices, a big part of the solution is enabling a housing supply response. We’re not talking about ‘sprawl’ here, just about building smarter communities, including infill projects and transitoriented development, that young families find welcoming and manageable with young children.”
NORTH WEST
North West Edmonton City Boundary 176 Ave. Castle Downs Rd. 167 Ave.
135 St.
7 132 Ave. 127 Ave. ss . ce ve rin h A
P bet Kin gsw liza ay E Ave .
109 St.
124 St.
142 St.
156 St.
Rd .
170 St.
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5
111 Ave.
Ma yfi eld
178 St.
184 St.
215 St.
149 St.
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He nd ay
An th on y
199 St.
l Trai ad w he o l l Ye 118 Ave.
il Tra ert Alb St.
9
137 Ave.
153 Ave.6 12 1
121 St. 113A St.
8
2 1424Ave.
150 Ave.
11 13
162 A ve.
127 St.
153 Ave.
148 Ave.
Cam pbell Rd.
3
Stony Plain Rd.
MAP LISTINGS
1 COVENTRY HOMES Castle Downs Rd. & McCrae Ave.
6 VALOUR
2 SOLARA AT SKYVIEW
7 BELLWETHER PARK 132 Ave. & 132 St.
BY ABBEY LANE HOMES
12650 142 Avenue NW 3 AVIVA BY CARRINGTON COMMUNITIES
507 Albany Way 4 ALTIUS SKYVIEW BY STREETSIDE DEVELOPMENTS
12815 Cumberland Rd. 5 ALOFT SKYVIEW BY STREETSIDE DEVELOPMENTS
12804 - 140 Ave.
BY CARRINGTON COMMUNITIES
508 Griesbach Parade NW
8 THE HARMONY BY P2000 DEVELOPMENTS
Sales Center 14904-125 St 9 STARLING LANDING
11 STARLING DUPLEXES BY ROHIT COMMUNITIES
2407 Sparrow Crescent 12 JUNO TOWNHOMES BY SLOKKER CANADA WEST
2570 Pegasus Blvd. 13 STARLING AT BIG LAKE BY ROHIT LAND DEVELOPMENT
137 Ave & Ray Gibbons Dr.
BY ROHIT COMMUNITIES
2405 Sparrow Common 10 URBAN CENTURY BY FOURCHA GROUP
14705-125 Street
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APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 37
The Harmony THE PERFECT BALANCE OF DESIGN, AFFORDABILITY AND LOCATION
M
ost people today are looking for some sort of balance in their lives. Whether that’s finding work/life balance or balancing time with family and time with friends, very few people have perfect harmony in their lives. So for those seeking balance between where they live and affordability need to look no further than P2000 Development’s new project, The Harmony in northwest Edmonton. Located in the newly established community of Baranow, The Harmony is perfectly located for anyone who likes having lifestyle and professional amenities within walking distance. There are four grocery stores nearby, along with a YMCA, rec centres, golf courses, Londonderry Mall, restaurants, cafes, pharmacies and more. It’s also close to Christy’s Corner and the shops at Skyview Power Centre. “We’ve been holding on to this land for five years now. It’s such a great location and we wanted to build something special here,” says David Phan of P2000 Developments. They build one project at a time, and wanted to make sure the time was right and community was established for their homebuyers. Phan: “Everything is already there, so it’s a very attractive location.” Of course, location is not the only thing Phan focusses on. “We also wanted to build something with a beautiful exterior,” David Phan explains. He continues: “Something that’s pleasing to the eye, first and foremost.” That includes The Harmony’s wrought iron fencing around the building and stone pillar accents. Gone are the typical vinyl or stucco exterior, and instead the building features hardie boards that are water and hail resistant. Phan also has a keen eye on green building practices, and is installing a metal roof on The Harmony—something typical for commercial not residential buildings. “Basically, you don’t need to replace the roof in the building’s lifespan, so we’re not using resources that need to be replaced in the future.” There are LED lights throughout to reduce energy consumption and R40 rooftop insulation that can reduce building energy costs by up to 40%. The Harmony has modern bachelor, one-bedroom, one bedroom + den and two-bedroom suites that range from 463 sq. ft to 915 sq. ft. (One unique feature of the bachelor condos are built-in, custom Murphy bed). All suites have quartz countertops in the kitchen and bathrooms, stainless appliances, and luxury vinyl board flooring throughout (with a lifetime warranty). The custom-made kitchen and bathroom cabinetry are two-toned and come with soft-closing hinges. French doors separate the suites from the balconies, and are designed to keep in the heat during the winter. Plus, all suites come with window coverings and in-suite washer and dryers. Suites range from $173,000 to $300,000, and preselling starts this October. Move in is expected to begin in mid-2018.
For more information about The Harmony, visit theharmony.ca or visit the sales trailer onsite at 14904 – 125 Street NW Edmonton
DOWNTOWN
Downtown Edmonton 118 Ave.
10
Jasper ve. A 100 Ave.
106 St.
Victoria Park Rd. Rive rVa lley Rd.
7
3 97 Ave.
KINNARD RAVINE
d. dR n a wl Ro St. 92
9 2 1 6 5
100 St.
102 Ave.
8
105 St.
104 Ave.
101 St.
109 St.
116 St.
124 St.
127 St.
142 St.
107 Ave.
4
11
t. 95 S
12
104 Ave.
Kin gs wa yA ve .
. 97 St
144 St.
111 Ave.
82 St.
112 Ave.
111 Ave.
LO W LEVEL BRIDGE JAM ES M cDO NALD BRIDGE
DAW SO N BRIDGE
Bellam y Hill HIGH LEVEL BRIDGE 105 ST BRIDGE
MAP LISTINGS
1 THE ULTIMA BY WESTRICH PACIFIC
10244 - 103rd Street 2 THE FOX
North Saskatchewan Riv er
6 ENCORE BY WESTRICH PACIFIC
103 St. & 102 Ave. 7 JASPER HOUSE
BY LANGHAM DEVELOPMENTS
BY LAMB DEVELOPMENT CORP
104 Street & 102 Avenue
Jasper Ave. & 106 Street
3 SYMPHONY BY ROCKWOOD PROPERTY MANAGEMENT
9704 - 106 St. 4 THE VERMILLION BY REDLEAF PROPERTIES
10611 – 116 Street 5 ICON BY LANGHAM DEVELOPMENTS
Jasper Ave., North of 104 St.
8 GROVENOR MANOR BY PELHAM MASTER BUILDER
11 121 WEST CONDOS AT HIGHSTREET DISTRICT BY REGENCY DEVELOPMENTS
121 Street & 105 Avenue 12 WEST BLOCK BY BEAVERBROOK IN HOUSE DEV
Corner of 142 St & Stony Plain Road
10126 – 144 Street 9 THE LEGENDS BY WAM
104 Ave. & 102 St. 10 PEARL BY REGENCY DEVELOPMENTS
Jasper Avenue & 119 Street.
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APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 39
Own a luxurious condo on Edmonton’s most desirable downtown street Live in downtown Edmonton’s best location
Fox Two sits on the corner of 102 Avenue and the 104 Street Promenade. This eclectic street was once the heart of Edmonton’s warehouse district and is now a friendly urban neighbourhood populated with a unique mix of residential condos, independent shops and first-rate restaurants. A variety of entrepreneurial businesses and professional offices also call this street home—there is even a local Farmers’ Market held every Saturday throughout the summer months.
Invest in the future of Edmonton
Whether your focus is investment, education, entertainment or lifestyle, Fox Two is ideally situated to take advantage of the very best Edmonton has to offer. Many of Edmonton’s secondary education facilities are either within walking distance: Grant MacEwan University, the University of Alberta City Centre Campus, or a sevenminute LRT ride away: the University of Alberta Main Campus and NAIT.
Summer 2017 occupancy A short walk to the east you’ll find Edmonton’s bustling financial district, city centre shopping and YMCA fitness centre. Directly north is Rogers Place—Edmonton’s brand-new, state-of-the-art sports and entertainment venue—which includes the surrounding Ice District with five-star hotels, world-class dining and multi-plex cinema.
The ultimate urban lifestyle Edmonton transit is easily accessed from Fox Two, with several bus stops and two major LRT stations on 104 Street—offering fast
access to destinations like West Edmonton Mall, Southgate Mall and Commonwealth Stadium—even the international airport is easily reached via Edmonton’s transit system. Nature too is right outside your door with Edmonton’s unique river valley—the largest urban park in Canada—bordering the downtown core to the south. Enjoy over 18,000 hectares of hiking and biking paths meandering along the beautiful Saskatchewan River, try boating or fishing, even play a round of golf at Victoria Golf Course—all within minutes of Fox Two.
Unparalleled architectural excellence A project of superior design and quality, Fox Two is the taller of the Fox Towers project at 33 storeys and is your last opportunity to own a brand-new, upscale condo on Edmonton’s best downtown street. The building’s fluid articulation and elegant contours ensure its longevity and timeless beauty. A breathtaking glass curtain wall and large windows offer sweeping city views, while efficient, well-designed suites maximize living space and promise stylish functionality. • Summer 2017 occupancy • Spacious 2- and 3-bedroom units still available on various floors • Well-appointed units with superiorquality finishes including quartz countertops, high gloss cabinetry, top-grade flooring and stainless steel appliances all come standard • All remaining suites have air conditioning and at least one private balcony • At least 1 heated and secured parking stall included in purchase price • Three high-speed elevators
The completed and fully occupied Fox One and neighbouring Fox Two currently under construction.
Another project by Langham Developments Ltd. Since 2001, Langham Developments has played the most significant role in rejuvenating Edmonton’s downtown core. Listed among Edmonton’s most experienced and reputable high-rise builders, Langham Developments has completed 4 outstanding downtown high rises to date: The Omega, Icon Tower I, Icon Tower II, and the first phase of the Fox Towers project: Fox One.
Visit our on-site Sales Centre located on 104 St. just north of 102 Ave.
www.foxtowers.ca | 780.425.0369
APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 41
FINAL INVENTORY CLEARANCE SALE! CLEARANCE FINAL INVENTORY FINAL INVENTORY CLEARANCE SALE! SALE!
SAVINGS SAVINGS
OF OF
OVER OVER
$100,000!! $100,000!!
Final price drops at Signature Condominiums and Windermere Mansions are here! Final drops at Condominiums and Mansions are here! Final price price drops at Signature Signature Condominiums and Windermere Windermere Mansions areviews. here! Savings of up to $123,000 on luxurious two storey condos with walkout lake Savings of up to $123,000 on luxurious two storey condos with walkout lake views. Savings of upyou've to $123,000 on luxurious twoatstorey condos withbeen walkout lake views. The home been waiting for, now the price you've dreaming of! The home you've been waiting for, now at the price you've been dreaming The home you've been waiting for, now at the price you've been dreaming of! of!
T2 T2 T2
2669 s.f. 2 bedroom + den with double 2669 s.f. 2 bedroom + den with double garage AND private in-suite elevator! 2669 s.f. 2 bedroom + den with double garage AND private in-suite elevator! garage AND private in-suite elevator!
$599,000 $599,000 $599,000
+GST +GST +GST
$499,000 $499,000 1350 Windermere Way SW 1350 Windermere Way SW 1350 Windermere Way SW
+GST +GST +GST
THA THA THA
1450 s.f. 2 bedroom + den 1450 s.f. 2 bedroom with double garage ++ den 1450 s.f. 2 bedroom den with double garage with double garage
$465,000 $465,000 $465,000
+GST +GST +GST
$342,000 $342,000 5151 Windermere Blvd SW 5151 Windermere Blvd SW 5151 Windermere Blvd SW
780-803-0888 •• INFO@SIGNATUREAMBLESIDE.COM 780-803-0888 780-803-0888 • INFO@SIGNATUREAMBLESIDE.COM INFO@SIGNATUREAMBLESIDE.COM
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UP TO
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*
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102 AVE NW
104 ST. NW
105 ST. NW
106 ST. NW
107 ST. NW
109 ST. NW
JASPER AVE NW
VISIT OUR PRESENTATION CENTRE + MODEL SUITE 10160 106 ST. NW (SOUTH OF 102 AVE. NW) MON - THURS. 2-7 PM / SAT + SUN. 12-5 PM
JASPERHOUSECONDOS.COM
403.813.7270
*Based on a promotional discount of the current purchase price of the suite. 5% Upon signing, 5% start of construction and 5% slab on grade. Renderings are an artist’s impression. All prices, sizes and specifications are subject to change without notice. E.&O.E.
APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 43
Advice | FUNDAMENTALLY SPEAKING
How to avoid your own moving horror story By Wayne Karl
MORE ADVICE ONLINE ypnexthome.ca/news/advice WHEN BUYING A HOME, you likely will consult with a team of trusted professionals – a mortgage broker, lawyer, perhaps a realtor or builder sales associate, and maybe a home inspector. Then, assuming you move ahead with your purchase, eventually you will likely need a mover. People often don’t consider a mover as an important member of their team of professionals. However, given the critical role they perform – taking possession, at least temporarily, of all your worldly goods and moving them without loss or damage – it’s a function not to be taken for granted. Not doing your due diligence and taking the time to select a reputable mover can invite untold problems. Case in point: the following example, which admittedly doesn’t involve a new-home move, is all too common. So is the lesson learned – unfortunately, the hard way. I contracted a “professional” moving company to carry out a last-minute move of five pieces of furniture on behalf of my son, a university student. For a variety of reasons, we decided to hire movers rather than rent a truck. After calling several firms – including large, well-known companies and smaller, independent ones. We confirmed the place of pick-up, and drop-off. 44 YPNEXTHOME.CA
We agreed on a price ($350) and time (9 a.m.) – after I was very clear the move would involve an out-oftown destination. All the details were confirmed in a “contract” exchanged via email. The crew was on time for the move the next morning, but almost immediately began talking about a higher rate – $360. Not a huge difference, but it immediately raised my suspicions. I’ll spare you all the gory details, but it’s important to share the lowlights of what happened next: » The company I originally contracted the job to the night before was inexplicably unavailable to actually do the move the next morning, and apparently passed it off to another firm. » My original contact, who was easily available on cell phone repeatedly the night before, suddenly was nowhere to be found. » Once the truck was loaded, the fee increased to $450. » Upon arrival at our destination, the movers said the fee was now $500. “It’s taking longer than we thought, and the furniture is heavier,” they said. » “Sure,” I replied, “right after I call the police.” With that, the sordid tale ended. The job not complete, left for us to move the furniture indoors, now the victims of one of the top 10 scams monitored by the Better Business Bureau (BBB). “I could write a thesis on this,” John Levi, president of the Canadian Association of Movers (CAM) told me. CAM offers consumers the
following tips on how to avoid being scammed by unscrupulous movers: » Find reputable movers through the CAM, BBB or provincial government consumer protection agencies » Ask three movers for estimates in writing » Get the terms and conditions in writing » Ensure your goods will be protected for loss or damage » Read customer reviews on movers’ websites and other forums “Consumers have recourse with their provincial government’s consumer affairs department and with the BBB,” says Levi. “Both of these avenues are fraught with difficulties and often take many months to come to some form of resolution – satisfactory or otherwise. And often, the mover simply out-waits the consumer. “It’s far simpler and more effective to engage a reputable mover in advance rather than trying to fix a bad situation after-the-fact.” My example, though painful and infuriating, is minor compared to other common horror stories involving similarly unsuspecting clients. Make sure you take the proper steps – and the time – to protect yourself.
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 wayne.karl@ypnexthome.ca or follow him on Twitter at Twitter.com/ WayneKarl
SOUTH CENTRAL
South Central Edmonton North Saskatchewan River
84 St.
71 St.
75 St.
Co
n 7 nors 2 Rd.
90 Ave. 83 St.
99 St.
103 St.
104 St.
1
6
95 Ave.
85 St.
105 ST BRIDGE . n Dr ewa atch k s a S
5 8
101 Ave. 98 Ave.
92 St.
Sas kat che wa nD r. 87 Ave.
FOOT BRIDGE
JAMES McDONALD BRIDGE
Scona Rd.
109 ST BRIDGE
114 St.
Groat Rd .
GROAT BRIDGE
79 St.
106 Ave.
DAWSON BRIDGE LOW LEVEL BRIDGE
CAPILANO BRIDGE
Whyte - 82 Ave. 77 Ave. 76 Ave.
3
4 51 Ave.
MAP LISTINGS
1 THE ARBOR AT AVENUE 83 10002-83 Avenue 2 Le Quartier Condos BY INFINITI DEVELOPMENTS
8627-91 St 3 ELEMENTS URBAN VILLAGE BY CARRINGTON COMMUNITIES
7711 – 71 Street NW
4 THE UNIVERSITY BROWNSTONES
7 CASCADE LUXURY CONDOS
BY TESSCO
BY PK DEVELOPMENTS
108 St. & 71 Ave.
9008 - 85 Ave
5 LUMIERE BY INFINITI DEVELOPMENTS
10836-85 Ave.
8 WILLIAM OFF WHYTE BY GREENVIEW DEVELOPMENTS
83rd Ave. and 109th St.
6 STUDIO ON THE HILL BY I4 PROPERTY GROUP
9859 – 90th Ave
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APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 45
Trending
Survey says more Canadians are buying homes solo SINGLE AND READY TO MINGLE
on the home-buying scene? You’re not alone. Singles represent a quarter of Canadians buying or intending to buy a home, according to a new TD survey. The trend is largely driven by unexpected life circumstances, with Canadian homebuyers who are divorced (69 per cent) or widowed (35 per cent) saying they are more likely to buy on their own, along with a growing number of single Canadians who say they’ll go it alone (67 per cent). “Buying a home can be daunting for people who want to buy solo – but it doesn’t have to be,” says Marc Kulak, associate vice-president of Real Estate Secured Lending at TD Canada Trust. “Whether you find yourself in a solo buying situation unexpectedly or by choice, there are ways to make it happen. Seeking advice from a mortgage specialist and having a solid plan – including understanding how you’ll afford your home over the long-term – is the best approach to feeling confident as you shop for a home, mortgage, insurance and that new sofa.” Of the one in four Canadians who intend to buy independently, 86 per cent say they are confident in their ability to comfortably afford maintenance and ongoing costs of home ownership. And this shouldn’t come as a surprise given that Canadians planning to go in alone are already thinking through the associated costs – seven in 10 single Canadians say they have thought about property taxes (76 per cent), home insurance (72 per cent) and maintenance (70 per cent) before purchasing their home, while two-thirds (67 per cent) considered utilities. Only nine per cent did not think about any of the costs associated with of home ownership 46 YPNEXTHOME.CA
before starting the purchasing process. To help make solo home ownership a reality, TD offers some creative ways to help a single buyer successfully make one of the biggest purchases of their lives. Buying solo doesn’t mean living solo: Just over one-quarter (27 per cent) of single Canadians who have or intend to purchase a home alone say they did or would consider having a tenant to make solo home ownership more affordable, while just under one-quarter (23 per cent) said they did or would consider a roommate. Rental income can help pay down the mortgage principal faster. Be sure to qualify for your mortgage without rental income so you have flexibility if you decide a roomie or tenant is not for you. Think beyond the picket fence: Remember, it’s not just a mortgage payment you have to manage – other costs including property taxes, insurance, and ongoing maintenance will add up. Your mortgage payments should be low enough so you can take care of all your monthly expenses, meet your savings goals and still have some wiggle room. It’s also important to have a contingency budget or slush funds set aside, to cover off emergencies and household maintenance. Protect your investment: As a new homeowner or landlord, it’s important to protect your newest and biggest investment. Be sure to research what type of insurance coverage will best fit your needs and give you peace of mind. For instance, fire replacement coverage is something people typically think about, but, depending on where you live, you might also
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consider sewer back-up and ice damming coverage. Even brand-new neighbourhoods can have issues with water backing up into basements, if grading and drainage are not well managed. And finally, remember to tell your insurer if you decide to rent out part of your home, make any renovations, or other changes as this will affect your coverage. Enlist a home-buying buddy: If you’re buying a home on your own, have a support system in place, like a trusted friend or family member. Having support will help you stick to your home-buying plan and can provide an objective voice as you visit properties, negotiate and close on a property, and set up your new home.
Inspiration
Small-space survival guide By Lydia McNutt
IT’S TRUE WHAT THEY SAY, good things really do come in small packages. Here’s another adage condo dwellers should pay attention to: it’s not the size that matters, but how you use it. To make the most of your small space, all you need is a little creativity, some advance planning, and these five small-space survival tips:
1. First impressions count When you walk into a small home, what’s the first thing you see? Is it pleasing? Inviting? Does it reflect what you want your home to say about you? You only have one chance to make a first impression, so make it count! 2. Pleasing proportions For furniture to serve the double duty of fashion and function, it must be well proportioned to the space. Rule of thumb: The smaller the room, the smaller the furnishings. This also applies to artwork and accessories. 3. Leave the traffic jam for the road Especially in a small home but applicable to any-sized space, it’s important to keep high-traffic areas clear of furniture, for functional reasons as well as aesthetic ones. Tip: Ensure you can open doors without bumping into your brand new coffee table. 4. Focus! Plan your room around one main focal point. Emphasize your favourite feature by arranging your furniture to complement and highlight it. It could be a great view, a cosy fireplace or a beloved piece of art. 5. Measure twice, buy once Last but not least, here’s one more saying that’s worth repeating: measure twice, cut once. Before buying any piece of furniture, make sure the door opening will accommodate its size. Don’t forget to take your tape measure into the elevator, stairwell and corridors too.
Lydia McNutt is an award-winning writer and editor. Lydia’s love of architecture, interior design and the written word have landed her happily at YP NextHome, where real estate rules. Follow her on Twitter @LydiasTweets.
APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 47
Trending
Rising oil production makes Alberta fastest growing provincial economy in 2017
ALBERTA IS POISED to have the strongest economic growth in 2017, mainly due to fast-rising oil production, according to The Conference Board of Canada’s Provincial Outlook: Winter 2017. Former leaders – British Columbia and Ontario – will see the pace of economic growth ease this year, but they will still deliver a solid performance. “Following two tough years stemming from widespread weakness in the energy sector, Alberta’s economy finds itself with the strongest economic growth this year,” says Marie-Christine Bernard, associate director of provincial forecast, The Conference Board of Canada. “Along with a big increase in oil production, some of the growth in 48 YPNEXTHOME.CA
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Alberta will come from the rebuilding efforts in Fort McMurray. However, we expect more subdued economic growth next year as oil prices are not expected to increase very much. Beyond Alberta, all provinces are forecast to see positive economic growth in 2017, with the exception of Newfoundland and Labrador.” Alberta’s real GDP (gross domestic product) is forecast to grow by 2.8 per cent this year, the fastest among the provinces, with 0.4 percentage point coming from the rebuilding efforts in Fort McMurray. Also contributing to the province’s growth is a more stable outlook
for the energy sector following the recent OPEC agreement to cut oil production, which will allow oil prices to average almost US$60 per barrel for the West Texas Intermediate by the end of 2018. Although investment in the energy sector will not be increasing at a fast pace, total exports are expected to increase this year due to robust oil production gains as new oil sands projects come online. Another positive development for Alberta down the road is the federal government’s conditional approval of the Enbridge Line 3 Replacement project and Kinder Morgan pipeline.
WEST
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1 THE CALIFORNIAN PARKLAND BY ABBEY LANE HOMES
2035 Grantham Court 2 GROVENOR MANOR BY PELHAM MASTER BUILDER
10126 – 144 Street 3 HAVEN TOWNHOMES
5 JADE BY CARRINGTON COMMUNITIES
1004 Rosenthal Blvd 6 GLASTONBURY MEWS & ESTATES 1589 Glastonbury Blvd
9
RIVERS EDGE BY CHRISTENSON GROUP
3090 Cameron Heights Way 10 RENEW IN ROSENTHAL BY DAYTONA
1 &2 8209-217 Street NW
8 VIP AT CALIFORNIAN PARKLAND
BY BROOKFIELD RESIDENTIAL
BY ABBEY LANE HOMES
7385 Edgemont Way
2035 Granthan Court
4 SECORD CHALET BY HOPEWELL
#5, 320 Secord Blvd
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APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 49
Trending
Road tripping: 10 scenic places to visit in Alberta Den of Antiquity PO Box 1192, Redwater Just like Canadian Pickers, you can hit up the Den of Antiquity and shop antiques in hope of a rare find. You’re also welcome to appreciate the 1910 single-room Amelia schoolhouse where the Den is situated, though the drive up the Victorian Trail is easily one of the best parts of this trip with awe-inspiring history and natural vistas.
Stony Plain Farmers’ Market 4905 51 Ave., Stony Plain There’s nothing better than the farmer’s market on a Sunday morning. Stony Plain has more than 70 vendors on the upper and lower levels of the community centre. You can get fresh veggies and flowers, but you’ll keep coming back for the cheesecakes, pet accessories, books, leather-work and jewelry.
Jurassic Forest If you loved Jurassic Park, then there’s an entire forest of dinosaurs waiting for you north of Gibbons. It’s a great place to take the kids or young-at-heart dino-lovers. They’ve got dinosaur replicas sprawled throughout the forest, searching for food as you dodge their feet and teeth. The kids can even dig up bones and take a ride on the mighty Triceratops!
Devonian Botanic Garden 51227 Hwy. 60, Parkland County This huge botanical garden is part of the University of Alberta and features a Kurimoto Japanese Garden, extremely beautiful to stroll in as it unfolds before you. For botanists, this is a must-see place with a diverse and native plant collection. And, for the average visitor, they have numerous events like their Pyjama 50 YPNEXTHOME.CA
Party and Opera al Fresco that must be booked early.
Barr Estate Winery If you’re open to trying unconventional wines made without grapes, you’ll want to check out Rick and Amy’s winery in Sherwood Park, located in the middle of their farm, amongst the sheep. You can take a tour of the estate for a small fee and learn how their raspberry and rhubarb wines have made a name for themselves.
Alberta Pioneer Railway Association 24215 34 St. NW, Edmonton A truly historic place, the Alberta Railway Museum is a non-profit completely run by volunteers whose aim is to preserve these vintage trains. They have more than 75 rail cars and locomotives from the Canadian National and Northern Alberta Railways. The museum itself is a tiny replica train terminal with a station and shops, where you can catch your train to the past.
Canadian Badlands Ltd. 181 Railway Ave. E., Drumheller The Badlands on its own is pretty fantastic for prehistoric geography
and dinosaurs. But, there’s also the Royal Tyrrell Museum with dino skeletons on display, or precision golf on the challenging course at the Dinosaur Trail Golf & Country Club. With so much history here, you might just be the next paleontologist to discover a prized fossil!
Edmonton Corn Maze With a new maze each year, you can’t opt out because you’ve “been there, done that.” The time to beat is 30 minutes if you’re a whiz at directions. If not, you’re free to wander about more than five kilometres of mazes. And, it includes the full farm experience, with barnyard animals, old-timey snacks and a spud gun to shoot old potatoes from a cannon.
Elk Island This is the perfect place to get back in touch with nature, with roaming bison and elk. Camp out under the stars or go canoeing on Astotin Lake. Canoes, kayaks and stand-up paddle boards are available for rental on site (on weekends and holidays). For day trippers in the winter, snowshoeing is a transcendental experience with elk wandering around as you explore the grounds.
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1 SILVERLEAF AT JUBILEE PARK 500 Grove Dr 2 EDGEWATER VILLAS BY LANG BUILT HOMES
Just off of Harvest Ridge Dr 3 ALTIUS MCLAUGHLIN BY STREETSIDE DEVELOPMENTS
50 McLaughlin Drive 4 HERITAGE CREEK BY THE CHRISTENSON GROUP
50 Heatherglen Drive
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APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 51
It’s NEW… And It’s OPEN!! 17 HARVEST POINT, Spruce Grove
Adult Living at it’s Finest Edge Water Villas is the perfect lifestyle choice for many buyers looking for low maintenance, carefree living in a great location.
GREEN SPACE 21.88
16.79
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57
2
59 12.27
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37.07
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8
11.04
Edge Water Villas provide the flexibility of lock and leave living, ideal for snowbirds, empty nesters, retirees, travellers and business people alike. Leave the shovelling and mowing behind and move to a maintenance free Villa.
2
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40.05
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New 2017 Coming soonAnnual On Stands Now! Watch it! Outfor Now! October 2012
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Exploring Edmonton’s top builders and developers – one community at a time
APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 53
Trending
Housing a priority in Budget 2017 but still falls short By Wayne Karl
BUDGET 2017 makes housing a priority, proposing to spend more than $11 billion over 11 years in a variety of initiatives, but so far fails to address key market-related issues – again. “The housing-related allocations in this budget are principally for affordable and social housing, so the key challenge of affordability for market-rate housing, and especially for first-time homebuyers, remains an issue,” Kevin Lee, CEO of the Canadian Home Builders’ Association (CHBA), told New Condo Guide. To help address immediate housing needs, Budget 2016 committed to invest $2.2 billion over two years, to give more Canadians access to more affordable housing. To supplement these investments, Budget 2016 also provided funding for low-cost loans and new financing tools to encourage municipalities, housing developers and non-profit housing providers to develop more affordable rental housing units. To build on these efforts, Budget 2017 proposes to invest more than $11.2 billion over 11 years in a variety of initiatives designed to build, renew and repair Canada’s stock of affordable housing, and help ensure that Canadians have affordable housing that meets their needs. These investments will be made as part of a new National Housing Strategy. To be released later this year, the Strategy was developed following extensive consultation with and input from provinces, territories, municipalities, Indigenous Peoples, industry experts, stakeholders and Canadians who are living with the challenge of finding adequate and affordable housing in many of Canada’s big cities, and rural and remote communities. 54 YPNEXTHOME.CA
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Key elements of the Strategy will include:
A renewed federal-provincialterritorial partnership in housing
» a renewed partnership between the government, and provinces and territories to better support key housing priorities » a new $5-billion National Housing Fund to address critical housing issues and better support vulnerable citizens » targeted support for northern housing » targeted housing support for Indigenous Peoples not living onreserve » renewed and expanded federal investments to combat and prevent homelessness » making more federal lands available for the development of affordable housing » expanded funding to strengthen Canada Mortgage and Housing Corp.’s housing research activities.
Budget 2017 proposes to provide $3.2 billion over the next 11 years to provinces and territories to support key priorities for affordable housing. These priorities may include the construction of new affordable housing units; the renovation and repair of existing housing; rent subsidies and other measures to make housing more affordable; and other initiatives to support safe, independent living for Canada’s seniors, persons with disabilities and other individuals requiring accessibility modifications. This investment will be provided through a new, expanded, multilateral investment framework that will replace the existing Investment in Affordable Housing initiative, which is set to expire at the end of 2018-19.
Despite that affordability for market-rate housing wasn’t addressed in Budget 2017, there has been a gross lack of data in Canada on key aspects of the housing market, Lee says
New National Housing Fund Budget 2017 proposes to establish a National Housing Fund to address critical housing issues and prioritize support for vulnerable citizens, including: seniors; Indigenous Peoples; survivors fleeing situations of domestic violence; persons with disabilities; those dealing with mental health and addiction issues; and veterans. Administered through CMHC, the Fund will receive an investment of $5 billion over the next 11 years. The National Housing Fund is intended to: » Encourage greater collaboration and investment in housing: To pool resources among many housing partners, including governments, the private sector and community organizations, to prioritize largescale community renewal projects. » Expand direct lending for new rental housing supply and renewal: Provide municipalities and other housing partners with sustained and improved access to low-cost
loans for the repair and renewal of housing units, as well as for the construction of new affordable housing, through the Affordable Rental Housing Financing Initiative. This will leverage billions of dollars available for investment in affordable housing, and help improve the quality and condition of affordable housing across Canada. » Support for innovations in affordable housing: CMHC will make up-front capital contributions available to affordable housing providers. This will encourage innovative approaches to housing development, such as energy efficiency retrofits to lower utility costs, and accessibility modifications to expand the range of housing options available to Canadians living with disabilities. » Preserve the affordability of social housing: CMHC will provide temporary funding to social housing providers as they transition to more sustainable operating models. » Support a strong and sustainable
social housing sector: CMHC will also establish a Sector Transformation Fund and Technical Resource Centre to provide technical assistance, tools and resources to help social housing providers transition to more efficient and financially sustainable operating models. Further details about the National Housing Fund will be announced as part of the launch of the National Housing Strategy, coming later this year. “As expected, this budget allocates social infrastructure money to priorities that the government has identified to help those in housing need, but it also wisely holds some back for the complete National Housing Strategy later this year,” says Lee. “This will allow for more innovative solutions, which are needed to make public dollars go the furthest, for the most people, in the most effective ways.” Given the challenges facing firsttime homebuyers, more mechanisms to support well-qualified buyers are still needed, to ensure young families are not locked out of homeownership. “CHBA will continue to make recommendations through the National Housing Strategy process, and other initiatives, that can get to the root problems of housing affordability and fix them,” says Lee. Examples would include addressing housing supply issues, and curbing the excessive regulation and red-tape that keep family-oriented housing from being developed at sufficient pace, in sufficient numbers, at a price people can afford. Despite that affordability for marketrate housing wasn’t addressed in Budget 2017, there has been a gross lack of data in Canada on key aspects of the housing market, Lee says. “More data-gathering and analysis that can support sound policy decision-making to best address affordability challenges are welcomed by CHBA, and were a specific recommendation from our association.” APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 55
Trending
Investors, take the road most travelled By Yan Gurevich
MORE ADVICE ONLINE ypnexthome.ca/news/advice
SO YOU’RE GETTING cracking on your
“nest egg,” ready to put it to good use before your financial planner gets wind of your intentions and tries to reel you back in. Your friends are filling your head with all their success stories of flips, renovations and long-term rental conversions, and some of their ideas are starting to appeal to you. You have a real estate agent sending you listings, optimistic local market reports, and newspaper clippings prognosticating a tight rental market. You are ready to jump into investment properties. Now what? There are proven steps investors can take that will save a lot of money and help avoid disastrous consequences. When starting out, try to take the road most travelled. It’s not a TV show Television shows are for entertainment. Segments are edited to make even the protracted, tedious renovations and sale process appealing. We forget how some of the homeowners got on these shows in the first place. How many properties did they lose money on? How long did it take to find the one property that may turn a profit? How long did they have to rent out a property instead of flipping it, before they recovered their initial investment? We are told about, but never observe, the great screw-ups with a contractor, or lack of a quality 56 YPNEXTHOME.CA
inspection that landed them on the show in the first place. Surround yourself with experienced professionals who are knowledgeable in the area and type of home you are considering investing in, before you start shopping. If renovating the property, allow for longer time periods at each stage of acquisition, planning, permitting and completion. Budget at least 15 per cent for overages. Get your financing options locked in. Comparatively speaking... Investors use ratios like “cap rates” to compare and contrast one investment opportunity with another. Cap rates are an attempt to compare similar and dissimilar properties based on their income potential versus purchase price. On occasion, it is an attempt to compare apples to oranges. Beware – comparing a condominium with a six-
plex may yield similar cap rates, but capital investment and management efforts are very different. Try to use these calculations on similar types of properties. Cap rates will vary greatly from one city and region to another. Owners are willing to pay more for a similar property in a larger metropolitan area where prices are stable and security of the investment is more assured. If your investment is easily comparable to others that sold in the same area, then a straight price-toprice comparison may be very useful. In a large, very developed pocket compare builders, home styles, size of lot and home, and types of finishes. Cooler heads prevail Before purchasing any investment property, get it professionally appraised. If you are planning to resell within a year or so, get the appraiser
within easy driving distance from you. Few individuals can afford an investment property that generates so much income that they can hire a management company to maintain that investment for them. But even if a manager is involved, be prepared to make the midnight dash to your property – or at least have a trusted handyman on speed dial – in case a bathroom floods, or a washing machine stops working in mid-cycle.
Surround yourself with experienced professionals who are knowledgeable in the area and type of home you are considering investing in to estimate the resale value, taking into consideration the improvements you are planning to make. Even if you believe that your property will sell for more than the appraised value, ask yourself if the appraised value is enough to make a profit. If you can’t make money with the appraiser’s evaluation, rethink the improvements, or the purchase altogether. Where the big kids play Which would you prefer: to be the nicest, biggest house on the block, or a nice but “typical” home in the community? As an investor, you rarely want to be the one to try to buck the trend in a community. The adjective “typical” should be your most trusted term. If major developers are putting up new 3,000-sq.-ft. homes in this pocket, look for the “typical” underachiever, do a “typical” renovation or upgrade for the area, and expect typical rents. Benefits of this effort is that you
will not be waiting for the market you enter to catch up. However, in contrast to the bigger players, your home will appear to be a good deal to the next buyer and they may pay a premium for it at a later date. Tenants may pay a premium for a unit that is in an up-and-coming neighbourhood. Be a scrooge, even on Christmas Investment properties are all about realistic numbers. The more costs you shave off the acquisition, renovation and maintenance of the property, the more you’ll profit. In a flip (a quick resale after acquisition) study your potential resale price very carefully. The word “typical” comes up again. Expect a typical sale price but hope for a higher one. If you can profit from “typical,” you will live long enough to do this again. Shut up and drive Investment properties should be
Absentee landowner If you spend all your time in Canada but your investment condos are in Arizona or Florida, you must have faith in a management company to handle your properties at least as carefully and cost-effectively as you would yourself. Beware guaranteed returns, maintenance costs and sale prices. If your property is abroad, the laws of that land may not protect you from local suppliers guaranteeing or promising you certain things they cannot deliver. If I had a dime for every story of a vacant condo in Turks and Caicos or Jamaica where certain promises from now-bankrupt developers left investors with overpriced vacation homes… Home of the brave Tenants are a breed unlike any other. Most landlords I know are just happy to get some tenants out after months of non-payment of rents and hundreds of dollars in damage never to be recovered. You can spend days checking the background of potential tenants, only to face a very different beast once they take possession. Be brave. Do your homework, but set aside a reserve fund for unexpected loss of rents or renovations. For longterm investments you must factor in larger upgrade expenditures and set up a larger reserve.
A real estate sales representative with Harvey Kalles Real Estate, Yan Gurevich shares his creativity, sales, finance and negotiating skills with his colleagues and clients. Email yan@harveykalles.com; call 647.209.4004; and follow him on Twitter @brokeryan APR 21 - MAY 19, 2017 | NEW CONDO GUIDE 57
Inspiration | STYLE FILE
BUDGET-FRIENDLY
spring style updates By Jo Alcorn
Each year as spring approaches, I typically see a surge of homeowners wanting to spruce up their homes. There are so many easy and affordable things people can do to dramatically update their home while keeping function, style and budget top of mind.
Consider swapping out some accessories for lighter, brighter options. I love working with white on white (all different tones and shades of white) to create a fresh, bright palette. Flowers are mandatory too – I cannot live without flowers – and they scream spring! Feeling the itch for a more dramatic change this spring? I’ve recently launched a new line of Jo Alcorn wallpaper in patterns that are guaranteed to give your mood a lift and make you feel like you’ve made a dramatic change with a little DIY magic.
Think you have to turn off your fireplace and forget about it until fall rolls around? Think again! Dimplex has stunning units that operate with no heat. You can keep them on during the spring and summer on cool, rainy days when you want that comfy, cosy feel of a fire but without the heat. This unit that I recently styled is a new type from Dimplex called Revillusion. It can run all summer long with a no-heat option to keep a romantic, relaxing feel going strong in the warmer months. 58 YPNEXTHOME.CA
If you have an electric fireplace, or even a wood-burning unit, you can redecorate it to match your spring decor. HomeSense is my go-to when I want to easily change any decor with very little expense. For mantel decor in the warmer months, I recommend light, airy and fun accessories.
If you have open shelving or glass cabinet doors, another option to update your space is to change your glassware and plates. I love to pull these out early in the season and get them on display for an instant spring-time feel. And I’m all for making it feel like the warmer months will be here soon! Walmart has a great selection of outdoor plates and glasses that are sure to please.
Spring is always a great time to organize and make small changes that will add huge functionality to your home. Adding soft-close hardware and drawer organizers can sometimes make it feel like you have a brand new space. GRASS, a manufacturer of soft-close drawer and cupboard systems, has a new line called Tavinea which is an interior drawer system that is modularly built so it can easily be tailored to your personal specifications. The days of the junk drawer will be limited after this addition.
Spring really does inspire us to organize, air out, and freshen up, but a spot that people often overlook is the laundry area. I assure you, if you spend a bit of time to organize it properly, you can be far more efficient when you’re in there and have the bonus of enjoying that space! I love baskets from Bouclair to hide all the bits and bobs, cleaning supplies and other things that make the household tick.
There is no easier, more stylish way to change up your living space than by adding in pillows. “The more, the merrier,” I always say! My pillow collection is fully washable (you toss the entire pillow – cover and stuffing – into the washer!) hypoallergenic and made in Canada.
Jo Alcorn is a celebrity designer specializing in small spaces and design solutions for all budgets. She is the interior expert on HGTV’s new show, Critical Listing, and shares her expertise regularly on TV and through her monthly column at the Toronto Sun. Visit whitewashco.ca
59
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