Eastern Ontario New Home & Condo Guide - Jan 9, 2016

JAN 9 - 23, 2016 VOLUME 16, ISSUE 1, FREE

EASTERN ONTARIO EDITION

-O PULL UT SEC AL TI CI

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MINTO DREAM HOMES FOR EVERY STAGE OF LIFE

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FEATURING

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INSIDE THIS ISSUE

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spotlight on condos U INIU M COMM

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THE RIGHT FIT: CONDO RULES & YOUR LIFESTYLE

NEIGHBOURHOOD PROFILE ON THE GLEBE

WHAT DO THE NEW MORTGAGE RULES MEAN FOR YOU?

HYDE

1,683 sq. ft.

WHAT DOES YOUR

Drea� Home

LOOK LIKE?

KILLARNEY

FITZROY

AVENUE TOWNHOME – DOWNING

2,406 sq. ft.

2,275 sq. ft.

1,268 sq. ft.

Take the Minto Dream Home Tour – visit our brand new Show Homes at locations across the city Arcadia • Kanata

Avalon Encore • Orléans

Mahogany • Manotick

4 brand new Show Homes: Killarney, Fitzroy, Hyde and Talbot

Show Home: Avenue Townhome – Downing

Show Homes: Walnut and Poplar

Find yours at mydreamhome.minto.com

CALL KANATA HOME THIS YEAR 2 EXCEPTIONAL COMMUNITIES WITH AMAZING INCLUDED FEATURES

30' HOME, THE MARIGOLD CORNER ‘A’ 1,710 SQ.FT. $349,990

36' HOME, THE LILY ‘A’ 2,060 SQ.FT. $409,990

36' HOME, THE PARKSIDE ‘B’ 2,669 SQ.FT. $434,990

INCLUDES: 9' Main Floor Ceilings, Rec. Room Ready, Gas Fireplace & $20,000 At Décor

INCLUDES: 9' Main Floor Ceilings, Rec Room Ready, Finished Laundry, Hardwood In Lieu Of Carpet On Main Floor, Granite In Kitchen & Bathrooms, Kitchen Backsplash & Air Conditioning

INCLUDES: 9' Main Floor Ceilings, 9' Second Floor Ceilings, Rec. Room Ready, Next Step, Hardwood In Lieu Of Carpet On Main Floor, Granite In Kitchen & Bathrooms & Air Conditioning

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From 319,990 $

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FOLLOW US:

Detached Homes

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From 254,990 $

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Townhomes

E TIR N DIA NA RE CA ENT R. MD C ADIU PALL

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KANATA

417

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SALES CENTRE

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SALES CENTRE 1776 Maple Grove Road 613-831-9369

Marigold Corner Model Home in Monahan Landing, Kanata

30' HOME, THE ATRIUM ‘A’ 1,388 SQ.FT. $309,990

30' HOME, THE PRIMROSE ‘B’ 1,864 SQ.FT. $344,990

36' HOME, THE ELM ‘A’ 1,902 SQ.FT. $369,990

INCLUDES: 9' Main Floor Ceilings, Rec. Room Ready, Super Shower, Gas Fireplace, Hardwood On Main Floor, Granite Countertops In Kitchen, Upgraded Kitchen Package, Backsplash & Air Conditioning

INCLUDES: 9' Main Floor Ceilings, Rec. Room Ready, Bath Oasis, Gas Fireplace, 3 Bedroom w/Loft, Hardwood On Main Floor, Granite Countertops In Kitchen, Upgraded Kitchen Package, Backsplash & Air Conditioning

INCLUDES: 9' Main Floor Ceilings, Rec. Room Ready, Bath Oasis, Hardwood On Main Floor, Granite Countertops In Kitchen & Bathrooms, Glass Shower Enclosure, Upgraded Kitchen Package, Backsplash, & Air Conditioning

monahan

landing

Townhomes

From 269,990 $

Detached Homes

From 309,990 $

DR. SUMMITVIEW

KANATA

SAWYER WAY

ST ON EH AV EN DR .

N 59

SALES CENTRE

D. ER SID PE HO

SALES CENTRE 7 Summitview Drive 613-271-0636

FOR MORE INFORMATION ON OUR COMMUNITIES REGISTER AT MATTAMYHOMES.COM SALES CENTRE HOURS: Monday - Thursday 1 pm - 8 pm; Friday 1pm - 6 pm; Saturday, Sunday and Holidays 11am - 6 pm MODEL HOME HOURS: Monday - Thursday 1 pm - 7:30 pm; Friday 1 pm - 5:30 pm; Saturday, Sunday and Holidays 11am-5:30 pm All illustrations are artist’s concept. All dimensions are approximate. Prices, specifications, terms and conditions subject to change without notice. E.&O.E.

Iconic Homes and Communities METICULOUS SITE SELECTION

CLASSIC, TIMELESS, WITH A TOUCH OF MODERN

UNIQUE, ARCHITECT DESIGNED HOMES

BOUTIQUE APPROACH TO HOMEBUILDING

BEAUTIFUL NEW HOMES IN KANATA

EXITING NEW FLATS IN KANATA

STUNNING ESTATE LOTS IN MANOTICK

STONEBRIDGE

Conveniently located near Stonebridge in Barrhaven, Manotick Village and the Rideau River, this idyllic neighbourhood features classic, Barry J. Hobin designed homes surrounded by natural, open spaces and flowering trees.

NEW EARLY OCCUPANCY TOWNS MOVE IN THIS WINTER!

TOWN MODELS ALSO NOW OPEN Sales Centre Hours Mon – Thurs: 12 – 7pm Fri – Sun & Holidays: 12 – 5pm 532 Kilspindie Ridge (via 3699 Jockvale Road) 613.608.8079

Sign up online to receive Community Updates and exclusive access to new releases!

uniformdevelopments.com

THE VAIL 2 Longfields

THE BERKSHIRE 2 Blackstone

I N K A N AT A S O U T H

TAILORED TO YOU

Winter Wrap Up Ring in 2016 with a new home

This winter Claridge Homes offers Move-In-Ready Homes, or homes nearing completion throughout the city. These spacious homes are built with a variety of plans and styles to choose from. Buy now and move in the new year! There’s sure to be one that fits you perfectly.

FINDLAY CREEK 401 Fernside St. 613-425-1332

BARRHAVEN 500 Peerless St. 613-823-6767

NAVAN 422 Dovehaven St. 613-841-0560

RIVERSIDE SOUTH 585 Summerhill St. 613-822-6444

HUNT CLUB 106-225 Winterfell Pvt. 613-249-0704

ORLEANS 376 Antigonish Ave. 613-834-3488

KANATA 213 Overberg Way 613-591-0448

ClaridgeHomes.com Prices and specifications are subject to change without notice. E.&O.E.

BRADwELL IV 1765 sq ft Townhome

(Block 22 Unit 103) Over $20K in upgrades

$333,900 NOw $314,900 ImmEDIATE AVAILABILITY

ECLIpSE 2040 sq ft Townhome (Block 12 Unit 61) $3K Design Centre Bonus

ONLY $326,900 AVAILABILE JUNE 2016

QUEENSBY IV 1705 sq ft Townhome (Block 36 Unit 189) Over $60K in upgrades

$363,900 NOw $339,900 ImmEDIATE AVAILABILITY

BLISS 1775 sq ft 3 Bed Townhome

(Block 30 Unit 68) $3K Design Bonus

ONLY $309,900 AVAILABLE IN 16 wEEKS

THE BREwER 940 sq ft 2 Bed Condo Flat (Block B Unit 101)

$290,900 NOw $260,900 AVAILABLE IN 6 wEEKS NEw SOLACE 910 sq ft Zen Urban Flat (Block A Level 2 Unit 1) Over $10K in upgrades

$204,900 NOw $189,900 ImmEDIATE AVAILABILITY HORIZON 1985 sq ft Aspire Townhome

(Block 13 Unit 68) $3K Design Centre Bonus

ONLY $324,900 AVAILABLE IN 6 wEEKS

moreStyle

contents JAN 9 - 23, 2016 | VOLUME 16 ISSUE 1

PRESIDENT, YELLOW PAGES NEXTHOME

Jacqueline Hill EDITOR-IN-CHIEF / DIRECTOR OF CONTENT

Susan Legge DIRECTOR OF SALES

Moe Lalani SALES MANAGER, EASTERN ONTARIO

Paul Bimm EDITOR

Wayne Karl ART DIRECTOR

Tammy Leung CONTRIBUTING EDITORS

Sara Duck (on leave), Elisa Krovblit, Lydia McNutt (on leave)

22

ON THE COVER

Minto Communities Four new showhomes now open Condo Insert | C01-C16

Spotlight on Condos

Your guide to new condo communities in the Gatineau and Greater Ottawa Area in every issue

014 Editor’s Note 026 Mortgage Rates 030 Hot Properties 032 Advertisers Index 034 Neighbourhood Profile 035 What’s Online trending

C12 Mortgages

Ottawa to raise minimum down payment requirement

C06 028 Homebuying

SALES CO-ORDINATOR, EASTERN ONTARIO

Sarah Khan

NATIONAL CIRCULATION MANAGER

John Jenkins

Thinking of buying a condo?

Walk a little, to save a lot

PRODUCTION MANAGER

by Wayne Karl

Bala Gnanapandithan

C06 Claridge Homes

Sterling Park Condominium – at home with comfort

PRODUCTION CO-ORDINATOR

Dennis Ng GRAPHIC DESIGNERS

Miguel Cea, Mike Terentiev

advice

C10 Design Secrets

Tracking trends when selecting your home’s finishes

by Jane Lockhart

PUBLISHED Saturdays, 2016 Publishing Schedule:

C14 Home Smarts

The right fit: Condo rules and your lifestyle

by Marnie Bennett

020 Fundamentally Speaking Take advantage of low rates while you can – but carefully

by Wayne Karl

024 Style File

5 points to help you create a sweet sleep retreat

by Lisa Canning

+ online NEIGHBOURHOOD

HOME SEARCH

Bi-weekly Jan.-June and Aug.-Nov. Monthly: July & Dec. 1 ADVERTISING Call 416.626.4200 for advertising

rates and information.

CIRCULATION Free distribution in select high-

traffic street boxes, stores, banks, financial institutions and select condominium sales offices.

COPYRIGHT 2016 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 to susan.legge@ ypnexthome.ca. The views and data expressed by columnists do not necessarily represent those of the publication.

MORE +PHOTOS +VIDEOS +ADVICE +INSPIRATION +TRENDING

by Wayne Karl

027 Housing Market

Ontario and BC housing markets to lead in 2016

by Wayne Karl

WITH

DYNAMIC MAPS

LOOK FOR THE CIRCLE

Please recycle this magazine! Yellow Pages NextHome participates in the Partners in Growth Reforestation Program through St. Joseph Communications. To date, Partners in Growth has planted over 2.5 million trees in parks, recreation and conservation areas, and other public spaces across Canada. Established in 1990, this program was started with Scouts Canada to help replenish the environment.

The Rogue (Lot 109) 2,859 sq. ft.

The Greyson (Lot 129) 3,049 sq. ft.

LIST PRICE

$20,000 Design Centre Bonus!

$956,815

LIST PRICE

$25,000 Design Centre Bonus!

$1,003,500

ONLY 2 CUSTOM HOMES LEFT. A RARE OPPORTUNITY TO OWN IN THIS EXCLUSIVE COMMUNITY | ACT NOW

PRINCE OF WALES ON THE RIDEAU

Inquire today at 613.290.2262 or email: santana@campanale.com

focus on living!

INTRODUCING THE

VISIONARY SERIES 2 STOREYS & BUNGALOWS BEAUTIFUL 1,267 SQ. FT. AND 1,433 SQ. FT. SINGLES

*Artist’s Rendering of Michelangelo II Shown. Please see Sales Consultant for details. E. & O.E.

your distinctive destination.

40’ X 100’ WALKOUT LOTS AND 45’ X 100’ WALKOUT LOTS

visit us at our model home & sales centre

Editors' Notes

Your next home, easier to find

SUSAN LEGGE Editor-in-Chief / Director of Content Yellow Pages NextHome Email: Susan.Legge@ypnexthome.ca Twitter: @SusanLegge

We realize there are different ways to search out that next home. That’s why we’ve made it our priority to make that home easier for you to find.

While price and size are always a big part of the equation, location will likely affect you most. Whether you want to be closer to work, important amenities or the city — or farther from it — the challenge is to find a home search tool that will provide all those answers. That’s precisely why we’ve developed maps with extensive neighbourhood data on YPNextHome.ca.

These maps make it easy to find not just a home but also see what is in the area, with stats about the community and its residents. YPNextHome.ca offers neighbourhood profiles, as well as guided tours by our team of experts — all connected to the maps, so that there’s no secondary search.

We’ve made it easy for you to familiarize yourself with a community and get valuable insights, from hot spots to proximity to the city centre.

THE GLEBE

MORE PHOTOS ONLINE ypnexthome.ca/the-glebe

We hope you find this experience helpful. Let us know, we’d love to hear from you!

Ontario market among the leaders in 2016

WAYNE KARL Senior Editor Yellow Pages NextHome Email: Wayne.Karl@ypnexthome.ca

+ get social 14 YPNEXTHOME.CA

Good news, Ontario homeowners and prospective homebuyers – your housing market is expected to be among the strongest in Canada this year.

For this, we can thank a reasonably strong economy and continuing low interest rates, among other factors.

The Canadian Real Estate Association, in fact, forecasts that Ontario and BC will lead the country in 2016 in terms of sales activity and price growth.

The national picture is bright, with sales forecast to grow five per cent and prices 8.4 per cent. In Ontario, sales are projected to rise 9.3 per cent, and average prices eight per cent.

BC will be tops in Canada, expected to grow more than 21 per cent in sales and 11.5 per cent in average prices.

Other markets across the country should be so lucky, with far more challenging economies and other local factors.

Interact with us on social media: ypnexthome

Move 20 Minutes Outside The City, Save $100,000 On A New Home!

SINGLE FAMILY HOMES FOR $100,000 LESS THAN YOU’D PAY IN THE CITY Russell Trails is an all-new neighbourhood in the historic village of Russell, just minutes outside Ottawa city limits, but still only five minutes further from downtown than suburbs like Kanata. At Russell Trails, you can own a beautiful ENERGY STAR® qualified home on a 50’ lot for about $100,000 less than you’d pay for an equivalent home in the city. And Russell offers great schools, sports, parks, and services–and a true community spirit you won’t find in the suburbs.

RUSSELLTR A ILS .CO M

Visit beautiful decorated models

by Tartan Homes and Corvinelli Homes today!

JAN 9 - JAN 23, 2016 VOLUME 16, ISSUE 1, FREE

EASTERN ONTARIO EDITION

YOUR PULL-OUT GUIDE to highrise, conversion, loft, terrace & townhome condo projects

© DevMcGill All rights reserved 2015. Specifications are subject to change without notice. Rendering is artist’s concept. Exclusive Listing Brokerage: TradeUp Real Estate Inc., Brokerage. Brokers Protected. E. & O.E. 2015

spotlight on condos C2

Welcome To Ottawa’s Newest Landmark Address Condominiums Overlooking The Nation’s Capital Presenting an exclusive collection of suites occupying the top 9 floors of a spectacular condominium residence. Situated above Le Germain Hotel and the Ottawa Art Gallery, ArtHaus offers defining architecture and unrivaled views.

UNDER CONSTRUCTION

DON’T LET THE OPPORTUNITY ON THIS EXCLUSIVE COLLECTION PASS YOU BY

SALES GALLERY OPENING SOON

ONLY 89 EXCLUSIVE RESIDENCES

REGISTER TODAY

arthauscondos.com | 613 909 3223

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/arthauscondos

@DevMcGill

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Now Under Construction

Downsizing has never been more upscale Large, carefree two-bedroom suites with indoor parking and elevator starting at $275,900.

Our Orléans story has just begun

CRÈME Presentation Centre 3143 Navan Rd, Orléans (Navan & Renaud) • 613-807-0316

As Ottawa’s favourite boutique builder, Domicile is known for bringing exceptional design to neighbourhoods you love. Now, we’re pleased to present two new projects in Orléans. But with so many great features you’ll have stop by and see them for yourself.

An urban village nestled in the heart of Chapel Hill Terrace homes like no other. Ask about our first time buyer program.

Ask us about our 4-year extended warranty plan, the best in the city.

Come see the model homes at: 5911 Meadowglen Dr, Unit 1, Orléans • 613-223-5803

spotlight on condos

Move In Today!

Find potential and build on it.

C3

spotlight on condos C4

We’ve reached new heights at The Bowery. Centretown’s hottest new condo building is now on the 12th floor!

SALES CENTRE | 136 BANK STREET | 613.695.7577

FALL OCCUPANCY 2016 from $181,000 thebowerycondos.ca

FEEL THE PULL OF THE RIVER Move in today just 15 minutes from Downtown • River views; in the heart of Orleans Future Light Rail Transit Orleans Stop • Contemporary suites with high end finishes

By Petrie Island Beach with Boat Launch, Nature Preserve, Access Trails/Walking Paths Interpretation Centre, and much more.

Visit our new model suite!

St-Michaels *

Up to $15,000 in premium upgrades included! *

2 bdr. condos from $ 278,800 *

Only 4 units left!

SALES OFFICE • 613.824.4059 8700 JEANNE D’ARC BLVD. N ORLÉANS, OTTAWA

@petrieslanding

*See Sales Representative for details. Prices, specifications, features and offerings are subject to change without notice. E & O.E. Promotions may be changed and/or cancelled at any time without notice.

brigil.com

spotlight on condos

2 bdr. condos from $ 208,800

C5

Property Profile | CLARIDGE HOMES

cover story

Stirling Park Condominium At home with comfort

spotlight on condos

LOCATED JUST OFF Merivale Road, Stirling Park

C6

Condominium is the perfect combination of elegance, style, and modern charm. Whether you are ready to start the next chapter in your life, or are looking to spread your wings with your first home, Stirling Park provides the comfort and convenience you want at a price you can afford.

Suites have been designed with the highest standards in mind. Expansive windows provide ample light in the bright and spacious rooms. A luxurious open concept kitchen with granite counters will encourage you to stay home to cook your own fabulous meals. Sleek hardwood in the living areas, backsplash in the kitchen, and stylish tiles in the bathroom accent the fresh urban design of the units.

This 139 suite building is built with high-end finishes, ideal for those looking to add a little class to their living space. Relax after a long day in the indoor pool, burn off some energy in the fitness centre, or invite your family and friends over for a get together in the large party room. Buyers can choose between a variety of floorplans, ranging from one-bedroom suites with 715 sq. ft. to two-bedroom suites with 1,260 sq. ft. Prices start as low as $245,000, but buyers also benefit from

more than $10,000 in upgraded premium finishes.

Stirling Park is located off Merivale Road, just east of downtown Ottawa in a safe neighbourhood with a high quality of life. Located just minutes from the 417, living in Stirling Park makes the rest of Ottawa quickly and easily accessible, but you don’t have to go far for leisure, shopping, education, healthcare, recreation or entertainment because you’ll already be living in a bustling shopping district across the street from Merivale Mall. Stirling Park is also surrounded by parks, schools, soccer fields and ice rinks, so there are plenty of places for children and those young at heart.

Since 1986, Claridge Homes has grown to become Ottawa’s largest home and condo builder by making sure home buyers are satisfied with their investment.

Claridge works with world-renowned architects and top contractors to create stylish, modern buildings and great communities. The company set the bar for city living and is coveted for its great locations, artful design, eco-friendly planning and attention to detail.

Visit the brand new sales centre and fully furnished model suites or check out claridgestirlingpark.com, for more information.

Location

Ottawa Builder

Claridge Homes Development

Stirling Park Home Type

One- and two-bedroom condo units Sales Centre

107-330 Titan Private Open Saturday & Sunday noon to 5 p.m.; Monday to Wednesday noon to 7 p.m.; Thursday, Friday & holidays closed Contact

613.224.0330

JAN 9 - 23, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO C7

Luxury condominiums that

SUIT YOUR STYLE

spotlight on condos

Now Under Construction

C8

Claridge has been redefining Ottawa’s skyline for nearly 30 years, and now we’re proud to bring Claridge_Icon to the community.

Find your new home in the heart of Little Italy for as low as $291,000.

485 Preston Street, Ottawa | 613.695.1441 | www.claridgeicon.com

moreValue

Move-in ready units. up to $10,000 in designer finishes included! sTIRLInG PARk | MERIvaLE Now occupying! 1 & 2 bedroom units starting from $245,000 330 Titan Private, Unit 107, Ottawa 613-224-0330 WATERsTREET | LOwERtOwN Now occupying! studio, 1 & 2 bedroom units starting from $192,000 316 Bruyère Street, Unit 112, Ottawa 613-680-6560 CLARIDGE PLAZA 3 | RIdEau stREEt Models now open! Move-in ready 1 & 2 bedroom units starting from $311,000 244 Rideau Street, Ottawa 613-241-3235 File is half size FINAL: 48” x 48”

CLARIDGE PLAZA 4 | RIdEau stREEt Now occupying! studio, 1 & 2 bedroom units starting from $225,000 244 Rideau Street, Ottawa 613-241-3235

fusIon | LEBREtON fLats Models now open! Move-in ready 1, 2 & 3 bedroom units starting from $288,000 300 Lett Street, Ottawa 613-232-2049 TRIbECA | dOwNtOwN MEtcaLfE Models now open! Move-in ready 1 & 2 bedroom units starting from $343,000 56 Nepean Street, Ottawa 613-234-1780 TRIbECA EAsT | dOwNtOwN MEtcaLfE Now occupying! studio, 1 & 2 bedroom units starting from $241,000 56 Nepean Street, Ottawa 613-234-1780

moreChoice

CLARIDGE ICon | LIttLE ItaLy Now under construction! 1 & 2 bedroom units starting from $291,000 485 Preston Street, Ottawa 613-695-1441

THE LofTs AT TRIbECA | dOwNtOwN MEtcaLfE Now under construction! 1 & 2 bedroom units starting from the mid $400s Includes underground parking 56 Nepean Street, Ottawa 613-234-1780

ClaridgeHomes.com Prices and specifications are subject to change without notice. E.&O.E.

moreStyle

spotlight on condos

Now under construction. secure your new home and ask about our upgraded finishes at these locations.

C9

Tracking trends when selecting finishes for your new home

By Jane Lockhart

ONE OF THE MOST exciting and

stressful times of purchasing a new home from plans is the opportunity to select your own colours and finishes.

Many clients hire us to come along with them to the builder’s decor centre for the selection process to make it smooth, fast and current in terms of trends.

The word “trend” is a confusing one, as it is often confused with the idea of a fad which is short term and likely to not last more than half a year to a year in length. A trend is an underlying current within the marketplace that is generally adopted by most people within a certain category whether it is fashion, C10 YPNEXTHOME.CA

home decor, interior design or a particular architectural style. It is this information that residential designers are highly attuned to and can provide valuable insight when selecting materials for your new home.

Here is a quick guide to trends you may want to consider as you chose materials and finishes for your new house or condo.

ongoing trend in kitchens and master bathrooms, particularly, but where possible, adding these to secondary bathrooms and laundry rooms is also popular. Some of the new laminate countertop patterns are pretty nice and can work in less high traffic spaces – and can offer cost savings.

1) Solid surface countertops This includes quartz, granite and other materials such as Corian, although it is far less popular than it was a few years ago with the mass variety and colour of quartz products.

Solid surface counters are an

There is no question that we are in a time of “white” as the dominant colour for a variety of home decor objects. Tile is no exception, and has gone from beige and tumbled in look to a polished and marbled finish, complete with a high gloss

2) High gloss porcelain tile in light colours in bathrooms and kitchens

JOHN HEINEMAN PHOTOGRAPHY (JOHNHEINEMANPHOTOGRAPHY.COM) COURTESY OF SORBARA GROUP OF COMPANIES (SORBARA.COM)

Inspiration | DESIGN SECRETS

4) White cabinetry and dark islands Floor-to-ceiling cabinetry is becoming more common with double-stacked cabinets. Different coloured islands continue although wood choices are moving from maple to cherry and even to walnut for a more lux feel. Island colours such as black, ebony, gray and charcoal have become more popular, as homeowners look for creative but classy alternatives to chocolate brown.

5) Hardwood flooring a top seller in new homes Change is underway in both colour and finish, however. With a nod to softer palettes, lighter hardwoods have begun to gain traction with pale grey-blond floors and even ash-coloured oaks popping up here and there. Wider plank flooring is still more interesting than long thin strip flooring and the glossy finishes of just a few years ago are on the decline.

Look for more wire-brushed and hand-scraped finishes as they provide surfaces that are less likely to show wear and scratches than traditional dark, glossy hardwoods.

surface. It is smooth and clean with a modern edge. This has become a staple in master bathrooms and front foyers and given some layouts, even kitchens and mudrooms. Most tiles today are larger and are made from porcelain, which is more durable overall than ceramic.

3) Larger trim work and ceiling details for the main floor Rooms where we see this trend include the family room, dining

room, foyer, office and living room. Be prepared to look at baseboard that is seven to 10 in. in height from the norm of five just a few years ago. More elaborate ceiling details such as tray, coffered or waffle applications continue to grow in popularity, as well as crown molding in wood or plaster. Included in this category is wainscoting and paneling which both are popular in main floor rooms as finishing treatments.

There are more trends out there in new home construction, but this summary reminds us that the underlying current of dominant design ideas shape what we subconsciously select in the long run. It is important to understand what has staying power and what doesn’t, so you make sound choices when selecting materials and finishes for your new home. It’s hard to think too far ahead, it’s possible that these finishes may surround you and your family for a lifetime.

So, do some research before you make final selections to ensure you know what you want and where design trends are heading.

Jane Lockhart is founder and principal designer of Jane Lockhart Interior Design. She was creative director and host of W Network’s top-ranked show, Colour Confidential, and has a Canadian-built furniture collection, Jane by Jane Lockhart, by Statum Designs. Visit online at janelockhart.com

JAN 9 - 23, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO C11

Trending

Ottawa moves to raise minimum down payment requirement

By Wayne Karl

CALGARY, EDMONTON and other markets already experiencing a cooling are expected to be among the cities hardest hit by the federal government’s new minimum down payment requirement.

Finance Minister Bill Morneau on Dec. 11 announced changes to the rules for government-backed mortgage insurance, intended to contain risks in the housing market, reduce taxpayer exposure and support long-term stability.

Effective Feb. 15, 2016, the minimum down payment for new insured mortgages will increase from five per cent to 10 per cent for the portion of the house price above $500,000. The five-per-cent minimum down payment for properties up to $500,000 remains unchanged.

The move represents a graduated approach to increasing the down payment requirement proportionally to the cost of a home. Canadians who already hold mortgages will not be affected by this announcement.

“The government’s role in housing is to set and maintain a framework that is equitable, stable and sustainable,” Morneau says. “The actions taken today prudently address emerging vulnerabilities in certain housing markets, while not overburdening other regions. They also rebalance government support for the housing sector to promote long-term stability and balanced economic growth.

“This measure will increase homeowner equity, which plays a key role in maintaining a stable and secure housing market and economy over the long term,” he adds. “It also protects all homeowners, including many middle class Canadians whose greatest investment is in their homes.”

In making the announcement, Morneau also highlighted the increases in guarantee fees for Canada Mortgage and Housing Corp. (CMHC)-sponsored securitization programs, announced by CMHC. So, what might all this mean for consumers?

For those in Calgary, Edmonton and even Victoria, BC, the move could have the unintended consequences of imparting additional cooling on already chilly markets.

CIBC Deputy Chief Economist Benjamin Tal says the largest impact will be felt in Calgary, due to the large share of high-ratio mortgages. In this city, the new measures are estimated to impact about 10 per cent of new sales, while in Toronto the figure is five per cent; in Vancouver, just 2.5 per cent.

Overall, the ramifications of the move should be fairly minimal. “It will only affect a small number of buyers,” James Laird, president of mortgage broker CanWise Financial, told New Home & Condo Guide. “People in the affected group may need to rent a little bit longer until C12 YPNEXTHOME.CA

MORE TRENDING ONLINE ypnexthome.ca/news

they save the extra down payment required. They may still buy where they’re planning to by getting help from family.

Or they may still buy right away, but buy a slightly smaller home than they were planning to.”

The changes primarily target high-end homebuyers — “two young professionals earning pretty good incomes,” Laird adds. “They are purchasing in this $500,000 to $1 million bracket.

“The other thing to think about is that it really shouldn’t affect non-first-time homebuyers. Presumably, they’d be selling their previous home to buy another home, and there’d be enough equity in their home.”

Toronto-based mortgage broker and wealth planner Calum Ross expects the new rules to cause a spike in activity before the deadline.

“Unexpected changes to the market that make access to capital more difficult historically have had a significant short-term impact, followed by an adjustment,” he told New Home & Condo Guide.

“Expect market activity to go up substantially on homes priced between $500,000 and $1 million through until the deadline. Personally, the only surprise part of this announcement is why they didn’t do this sooner. The fact people were able to do five per cent down beyond $500,000 was ridiculous to begin with. Homeownership is a privilege, not a right.”

spotlight on condos

C13

Advice | HOME SMARTS

The right fit Condo rules and your lifestyle

By Marnie Bennett

MORE ADVICE ONLINE ypnexthome.ca/news/advice IF YOU’RE LIKE MOST of my condobuying clients, your home search is centred around location, suite layout and building amenities. These are the physical aspects of your home, and they’re incredibly important. But there are also intangible aspects, such as rules and regulations, which may affect the way you actually live in your condo.

The vast majority of these rules are reasonable; however, they do vary from condo to condo. They can be found in the Condo Declaration, and it’s well worth your while to read them as part of your home-hunting research. (While rules can be added or eliminated by the condo board, owners are given a vote on important issues, and can demand meetings to review other changes.)

Depending on your lifestyle, you may be passionate or indifferent about any of the following issues, each of which is often regulated by condo rules:

Smoking Smoke-free condominiums are a relatively new development, but they have indeed made their Ottawa debut.

These condos ban smoking even in the privacy of your own suite, so that the highest air quality is maintained.

Rentals Some Ottawa condominiums have restrictions on short-term rentals (that is, leases of less than a year).

One condo complex recently made the news for disallowing renters C14 YPNEXTHOME.CA

who don’t constitute a family. While sometimes controversial, such rules are meant to ensure that all residents have a vested interest in maintaining a well-kept building with a pleasant atmosphere.

Pets Some condos ban all types of pets, while others embrace them. Some place restrictions only on certain types of animals.

Barbecues While Ottawa has no bylaws pertaining to natural gas-line barbecues on balconies, some condos do restrict them due to safety concerns.

Parking Condos may restrict parking for commercial and/or oversized vehicles.

Plug-ins for electric cars This issue caught my eye back in August, when an Ottawa condo made headlines for deciding that a

resident with an electric car should pay for his own electricity, and for installation of a meter. At the other end of the spectrum, some “Green” condos provide plug-in stations for this very purpose.

While rules and regulations may not be the stuff your condo dreams are made of, I’m happy to report that there are condo rules to suit every demographic. Find the set that work for you, and – I promise – you’ll love your home that much more.

To receive a free copy of a new special report titled “Homebuyers: How to Save Thousands of Dollars When You Buy” email sales@bennettpros.com Marnie Bennett is a broker and team leader for Bennett Property Shop Realty, a full premium service real estate brokerage specializing in marketing and selling new and resale homes, condominiums and investment real estate. Marnie is the host of the weekly radio show the Real Estate Hour, a millionaire real estate investor and a wealth management coach. bennettpros.com

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Advice | FUNDAMENTALLY SPEAKING

Window of opportunity Mortgage rates remain at historical lows, so take advantage while you can – but carefully

By Wayne Karl

LAST YEAR was a notable one in the

mortgage world: The Bank of Canada dropped its influential overnight target rate – not once, but twice.

In its latest announcement on Dec. 2, the BoC held the rate at 0.50 per cent – where it had been since July after dropping it from 0.75 per cent, where it had been since January 2015 when the Bank dropped it from one per cent.

Just a bunch of numbers, right?

Perhaps, but some experts are now saying rates won’t begin to inch up from these historical lows until 2017.

This means an extended window of opportunity for those looking to buy a home.

If you could lock in at a low rate over 10 years, for example, that gives you the comfort of knowing what your mortgage payments will be over that period, while over that time you can also take advantage of any pre-payment and lump-sum payment options to pay down your mortgage.

Another appeal of this scenario is that, as we often point out, experts advise you take a longterm view of your home purchase.

For example, some markets have recently experienced cooling prices and softening sales. But even if

ONLINE

that were to happen in your market and housing type, ask yourself: in 10 years, is a home you buy today likely to be worth more or less? If you need an answer to this question, just take a look back at prices 10 years ago. Of course, there are no guarantees, but if you’re in the homebuying mode anyway, today’s low rate environment makes a pretty compelling reason to act sooner than later to take advantage of these opportunities.

Low rates notwithstanding, the banks, financial firms, brokers and other experts still advise homebuyers to practice smart borrowing.

Experts stress that even as rates remain low, buyers should explore everything from putting down a larger down payment to taking advantage of pre-payment options to “stresstesting” your mortgage at a higher rate to ensure your finances can accommodate rate fluctuations or other unforeseen circumstances.

One day, the mortgage landscape will change. And if you’re among those homeowners who have been somewhat spoiled by continuing low rates, you could be could be in for an unpleasant surprise.

Take advantage of today’s low rates while you can, but also spend the time necessary to find a broker or banker you trust, who knows their business, and who can help you explore what options might be best for you.

More so than in any other area of homebuying, you’re going to rely on this advice – now more than ever. It will prove to be time well spent.

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

Canada’s 7 hottest real estate markets With 2015 in the rear view mirror and the New Year upon us, it’s an appropriate time to take a look at Canada’s hottest real estate markets.

While you might expect that Canada’s largest and most expensive markets such as Toronto and Vancouver are also the hottest, that’s not necessarily the case.

20 YPNEXTHOME.CA

Read the full story…

ypnexthome.ca/hottest-markets

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Property Profile | MINTO COMMUNITIES

cover story

Killarney showhome

Minto Four new showhomes now open MINTO IS PROUD to announce the

release of its brand new, single-family showhomes available on 30- and 36-ft. lots: the Hyde, the Talbot Corner, the Fitzroy and the Killarney.

The spectacular new showhomes are now available for viewing at Arcadia in Kanata.

These new floorplans offer buyers a variety of options. Whether you’re in search of your first home or looking to upgrade to something bigger, these four designs have what you need.

One of the many great things about these homes is you have options. All four floorplans come with a flex option which means, after the purchase of your home, you get to sit down with an expert at the Design Centre and decide what 22 YPNEXTHOME.CA

works best for your family. Want four bedrooms instead of three?

Want to rearrange the floorplan of the master bedroom? Want a finished basement? Want to choose the design of your ceiling? All of these options, and many more, are available a la carte with fixed prices.

“These new designs offer an optimal use of the space,” says Brent Strachan, senior vice-president of Minto Communities, Canada. “Our new models provide a functional use for all the space. Every square foot is accounted for.”

For 60 years, Minto has focused on building Green homes to deliver real benefits to their customers. Today, the company continues to focus and go above and beyond to introduce

new technologies and innovations to offer Net Zero Energy Ready Homes.

This means that the home generates as much energy as it consumes.

Minto’s Net Zero Energy Ready Home is designed to use 65 per cent less energy than a typical new home.

The Net Zero program is currently underway in four cities across the country. Minto’s Killarney design is the only Net Zero home in Eastern Ontario. When you walk into this impressively large house, you won’t notice anything different about the structure itself. However, you’ll notice a difference when you see your first hydro bill.

Minto strives to meet the high environmental standards, which is why all these homes are third party

Builder

Minto

ARCADIA Location

380 Huntmar Dr. Kanata Home Types

30- and 36-ft. singlefamily homes, executive townhomes and avenue townhomes Contact

613.788.2770 arcadiasales@minto.com

AVALON ENCORE Location

2370 Tenth Line, Orléans

Killarney showhome

Home Types

30-, 36- and 43-ft. single-family homes, executive townhomes, avenue townhomes and Infusion terrace homes Contact

613.834.6400 avalonsales@minto.com

QUINN’S POINTE Location

4005 Strandherd Dr., Nepean Home Types

30-, 36- and 43-ft. single-family homes, executive townhomes and avenue townhomes Contact

613.823.1900 quinnspointesales@minto.com

Talbot showhome

certified for their energy efficiency.

Each buyer is provided with a report on how their home will perform in terms of energy.

These new designs are available across the city in Arcadia (Kanata), Quinn’s Pointe (Barrhaven), Enclave at TrailsEdge (South Orléans) and Avalon Encore (Orléans). Because of the range of sizes and prices available, these homes are very popular with new-home buyers who are pleased to discover they can afford a singlefamily home. You don’t have to

make sacrifices.

“This year, Minto celebrated its 60th anniversary of building homes, designing communities in Ottawa, and offering clients the best value in terms of location, lifestyle and affordability,” says Strachan.

To view the new showhomes firsthand, please visit the Arcadia location in Kanata. For information on any of Minto’s communities, please visit minto.com

ENCLAVE AT TRAILSEDGE Location

2370 Tenth Line, Orléans Home Types

30- and 36-ft. single-family homes and executive townhomes Contact

613.834.6400 enclavesales@minto.com

JAN 9 - 23, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 23

Inspiration | STYLE FILE

5

POINTS TO HELP YOU CREATE A

SWEET

SLEEP RETREAT ONLINE

New Year’s resolutions for your home 24 YPNEXTHOME.CA

Ringing in a new year doesn’t change who you are, unless you let it. It’s a marker in time, a point from which you can decide to make a change. A fresh year can bring fresh perspective and so many people use Jan. 1 to make resolutions — leave the old bad habits behind with the old year and step into the new year full of good intentions for a better you. New Year’s resolutions can be anything from bettering your health to changing your attitude. How about bettering your home! Here are some great New Year’s resolutions for your home ››

As cold weather sets in and the days get shorter and shorter, ensuring our bedrooms feel like sanctuaries becomes so much more important. The bedroom is such an easy place to overlook — and in my experience, it’s often the last place busy parents will invest time and money. To ensure you get the best sleep possible, here are some essential steps to creating the best sleep retreat.

1. Get the best mattress you can afford We spend a third of our day sleeping — so your mattress is a product that is absolutely worth investing in!

While it might be scary to look at a high ticket price on a premium mattress, remember that a good mattress can last anywhere from five to 10 years or longer. So a $2,500 mattress amortized over this length of time ends up costing around the same price as your daily cup of coffee. And do ensure you try before you buy — don’t be shy to lie down and toss and turn in the store to make sure it’s a perfect fit.

2. Keep it dark Keeping a room dark plays a huge impact on quality of sleep for both adults and children. Before going to bed, put lights on a dimmer (an easy change an electrician can do if you don’t have them currently) to mentally prepare your body for rest. Then ensure you have black out window coverings for the best light fastness. In children’s rooms especially, I love using side channels that a company like Budget Blinds can install to keep light out from the small gaps that typically occur on the sides of roller shades.

3. Keep it dramatic I love creating cosy bedrooms. In my space I used a deep indigo blue called Krimson Lake by CIL Paints. It is absolutely a myth that dark colours are inappropriate for small spaces — in a small space dark paint can make a room feel cosy, dramatic and inviting. I took the drama one step further by installing applied moulding from Metrie’s Very Square collection. Applied moulding painted out the same colour as the walls is a modern take on a more traditional architectural application.

4. Keep it clean Commit to keeping the bedroom the cleanest room in the house. At the end of a chaotic day, who wants to return to chaos? Commit to using laundry hampers, to putting clean laundry away immediately, and to making the bed daily. Making the bed, if you don’t do so already, is a really simple task that will yield huge wins and build momentum for keeping the rest of the room tidy as well.

5. Make it smell good I use an essential oil diffuser in the bedroom in the morning to get me energized and in the evening to get my body ready for sleep. A few drops of lavender essential oil diffused in the room makes everything smell good and can do wonders to calm the nerves and aid in relaxation. For further help getting the best sleep try an herbal supplement like Pascoflair’s passionflower to de-stress and aid in restlessness. And absolutely remember to not let the bedroom become a dumping ground for mess — you deserve a great night’s sleep and a restful retreat after a long busy day. Commit to giving yourself this gift everyday!

Lisa Canning is a Toronto based designer who specializes in two-hour interior design consultations in the GTA and beyond. Learn more about her consulting services at lisacanning.ca

2. Streamline 1. Clean

It’s easy to get into a rut with your cleaning. You do the same tasks and take care of the same things in your regular routine. Take a look around and see what really needs attention and then make it your resolution to add that to the cleaning routine.

It may be old, damaged, or just not fit your decor, but you can’t get rid of it. It’s now or never. You don’t have enough room in your home — or your headspace — for clutter so either find a purpose for it or give it away to someone that can.

See Elisa Krovblit’s full list of New Year’s resolutions for the home online. Read the full story…

ypnexthome.ca/home-resolutions

JAN 9 - 23, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 25

Homebuyers’ Help

Compare mortgage rates for your best deal CHARTERED BANKS ATB Financial

variable 2.45

Alterna Svgs/Alterna Bk

2.7

Bank of Montreal

2.7

Bank of Nova Scotia

2.7

Canadian Western Bank CFF Bank CIBC

2.7

ICICI Bank Canada Manulife Bank

2.75 2.4

National Bank

n/a

President’s Choice Finan Royal Bank

2.7 2.45

TD Canada Trust

2.45

6 months

1 year

2 years

3 years

4 years

5 years

4 4.00op 4 6.30op 4 6.30op 4.55 6.45op 4 6.45op

2.94 4.00op 2.85 6.30op 2.89 6.30op 3.29 6.50op 3.14 6.30op 2.69 2.84 6.35op 3.15 3 3.20op 3.14 6.70op

2.64 4.00op 2.85

2.64

2.74

2.94

2.59

2.94

2.68

2.84

3.39

3.89

2.79

3.09

3.39

3.89

4.49

3.04

3.65

4.2

4.74

2.24 2.79

2.39 2.49

2.59 2.74

2.74 4.79

3.65 2.94

3.64 2.84

3.69 2.79

3.69 2.74

3.04

3.39

2.74

2.89

2.79 2.29

3.34 2.64

3.99 2.74

4.44 2.94

2.84

3.39

2.64

4.64

3.24

3.49

3.69

3.79

6.95op 4.45 4.4 6.70op

6.75op

Tangerine

2.7

3.14 6.75op 2.89 6.30op 3.19

TRUST COMPANIES Community Trust Concentra Financial

n/a n/a

Effort Trust

n/a

Home Trust Company Investors Group Trust

2.3 n/a

MTCC

2.7

6.5 5 6.70op 4.45 6.30op 3.95 4.2 6.50op 4.55 6.45op

3.14 2.89 6.30op 3.35 6.30op 2.69 3.14 6.30op 3.29 6.50op

3.25 2.59

3.95 3.39

4.39 3.89

4.64 4.64

3.5

3.7

4.3

4.35

2.24 3.09

2.39 3.39

2.59 3.89

2.74 2.79

3.09

3.39

3.89

4.49

6.2 6.40op 3.1 4.25 6.50op 4.2 6.50op

2.79 6.30op 2.29 2.89 6.50op 3.14 6.30op 3.25 6.25op 3.09 6.30op 2.8 2.95op 2.45

2.89

2.95

2.99

2.69

2.24 2.79

2.44 2.89

2.64 2.95

2.79 2.89

3.09

3.39

3.89

4.74

3.2

3.65

4

4.5

3.09

3.55

4.19

2.59

2.85

2.95

3.05

3.15

2.55

2.55

2.65

2.65

OTHER FINANCIAL INSTITUTIONS Comtech Credit Union

2.45

First National Fin. LP IC Savings

2.7

London Life

n/a

Luminus Financial

3.25

Meridian Credit Union

2.5

Parama Credit Union

2.65

Steinbach Credit Union

2.25

4

ONLINE CALCULATOR ypnexthome.ca/mortgage-calculator Notes: **Interest rate charged subject to adjustment during term mortgage. Please consult institution for term of years available. All rates are prime rates and subject to change without notice.

R.O.R. RATES ON REQUEST op OPEN ----- NOT QUOTING N/A NOT AVAILABLE December 14, 2015. Prepared By Fiscal Agents Financial Information Services 905.844.7700

26 YPNEXTHOME.CA

Trending

Ontario and BC housing markets to lead Canada in 2016

By Wayne Karl

MORE TRENDING ONLINE ypnexthome.ca/news

ONTARIO AND BC housing markets are expected to lead the country next year, according to the Canadian Real Estate Association (CREA). In updating its forecast for Multiple Listing Service home sales activity for 2015 and 2016, CREA says housing markets in these provinces have strengthened since its last forecast in September.

The association has therefore raised sales and average price forecasts for these provinces.

While housing markets in other provinces have performed as expected through the autumn, prospects in 2016 for a rebound in oil prices — and by extension, housing markets in oil producing provinces — have dimmed. Accordingly, forecast for sales activity in Alberta has been revised lower, as have forecast average prices in Alberta,

Saskatchewan and Newfoundland and Labrador.

Additionally, interest rates are now expected to begin rising later than previously anticipated. Now expected to remain on hold until late next year, low interest rates will continue to support sales and prices in 2016.

Recently announced changes to mortgage regulations that take effect Feb. 15, 2016 risk cooling housing markets beyond their intended targets of Greater Vancouver and the GTA, CREA says. In particular, the changes are expected to reduce sales activity in Calgary.

The forecast for national sales in 2015 has been revised higher, reflecting stronger than anticipated activity in BC and Ontario. National sales are now projected to rise by five per cent to 504,000 units for 2015, marking the

second strongest year on record for home sales in Canada.

British Columbia is projected to post the largest annual increase in sales activity in 2015 (21.4 per cent), while Alberta (-21.4 per cent), Saskatchewan (-10.8 per cent) and Nova Scotia (-5.1 per cent) will record annual sales declines. Activity in Manitoba is forecast to rise by 2.3 per cent this year.

Home sales in Ontario are projected to rise by 9.3 per cent in 2015. The increase would in all likelihood be higher were it not for a shortage of lowrise homes in the GTA. Sales in Quebec and New Brunswick are forecast to rise by 4.8 per cent and 5.4 per cent respectively compared to sluggish 2014 results.

Newfoundland and Labrador sales are forecast to increase 3.2 per cent in 2015 on the back of a rebound in the second half of the year. Activity in Prince Edward Island, having benefitted from the lower Canadian dollar, is expected to be up 18.8 per cent from 2014 levels.

The annual forecast for national average home price growth has been revised upward to $442,600 this year, representing an increase of 8.4 per cent.

British Columbia will be the only province this year where average home prices rise faster (11.5 per cent) than the national average. The rise in Ontario’s average price (eight per cent) is forecast to be roughly in line with the national increase.

Elsewhere, average prices in 2015 are forecast to rise by about two per cent in Manitoba, Quebec and Nova Scotia, while falling 1.9 per cent in Alberta, 2.7 per cent in Newfoundland and Labrador and by less than one per cent in Saskatchewan, New Brunswick and Prince Edward Island.

JAN 9 - 23, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 27

Trending

Planning to buy a condo?

Walk a little, to save a lot

By Wayne Karl IF YOU’RE PLANNING on buying a

condo to live in or rent out, here’s an important lesson: purchase prices and rents will be higher the closer you are to major transit hubs such as LRT stations.

Sure, it’s convenient to be located adjacent to transit, but it’ll cost you.

How much? We’ll get to that in a minute. But if you’re okay with a little walking between home and the station, you’ll also be in for significant savings.

Andrew Scott, senior market analyst, housing markets and indicators, Canada Mortgage and Housing Corp. (CMHC), attaches some hard numbers to the concept.

Using the Toronto new highrise condo market, for example, the average purchase price per square foot for buildings less than 500 metres walking distance to the subway is $632. For buyers willing to walk a little further, say between 500 and 999 metres, it would cost them $595 per square foot; $557 between 1,000 and 1,999 metres; and $492 beyond 2,000 metres.

For renters, distance also pays – or costs, depending on how you look at it. Average rents for a two-bedroom apartment less than 500 metres from the subway are about $1,477.

Between 501 and 1,000 metres, the rate drops to $1,280, and to $1,158 from 1,001 to 1,500 metres.

“Being close to the subway matters more for renters than buyers,” Scott told New Home & Condo Guide.

“Renters often have lower incomes than owners, and are younger as well.

I don’t think it’s a huge leap in logic to presume that these households are more likely to value subway access since they are not able to afford, or do not want to own, a private car.”

Proximity to transit as a key driver of real estate is not a new concept; we’ve long known that there’s a price 28 YPNEXTHOME.CA

MORE ADVICE ONLINE ypnexthome.ca/news/advice

to pay for access and convenience.

“Distance is now measured in minutes, not kilometres,” is how the Real Estate Investment Network (REIN) sums it up transportation as one of the most dramatic catalysts for real estate growth.

Generally, one of the attributes coveted by homebuyers is nearness to a city’s Central Business District (CBD). Access to good highway systems, mass transit and commuter rail is sought to afford easy access to the CBD. The basic theory in real estate is that the more attractive the location, the higher the value of the home. As the demand for homes

in that area expands, the result is higher housing values.

REIN has found that transportation projects will deliver a 10 to 20 per cent enhancement of real estate values in the regions most affected. If the market goes up everywhere, these areas will increase by about 10 to 20 per cent more. If the values drop, these will drop by 10 to 20 per cent less.

The concept is not just a Canadian phenomenon.

In studies of the effect of transportation improvements on real estate around the world, value increases occur for properties located within 500 to 800 metres of stations on new transportation lines.

Advice | MORTGAGE ADVICE

What the new mortgage rules mean for Canadians Existing eligibility rules

By Alyssa Richard

MORE ADVICE ONLINE ypnexthome.ca/news/advice IF YOU INTEND on buying a property

in the future, you may need to come up with a larger down payment because of recently announced new mortgage rules.

In early December, Finance Minister Bill Morneau announced changes to the mortgage rules.

Starting Feb. 15, 2016, there will be extra down payment requirements for properties costing between $500,000 and $1 million.

The current five per cent minimum down payment for the first $500,000 will stay the same, but there’ll be a 10 per cent minimum down payment for the portion of the home price above $500,000.

For example, someone buying an $800,000 property would need to make a down payment of five per cent on the first $500,000 ($25,000) and 10 per cent on the remaining $300,000 ($30,000). That would be equal to a total down payment of $55,000, or 6.9 per cent of the total purchase price or an increase of $15,000.

The five per cent minimum down payment for properties up to $500,000 and the 20 per cent minimum down payment for properties above $1 million both remain unchanged. And Canadians who currently have a mortgage will not be affected.

The changes are aimed at slowing the housing markets in Vancouver and Toronto. While the average home price is $454,976 in Canada, it’s $630,876 in Toronto and $947,334

Eligibility rules as of Feb. 15, 2016

Home purchase price

Minimum down payment percentage

Minimum down payment amount

Minimum down payment percentage

Minimum down payment amount

Under $500,000

5%

Up to $25,000

5%

Up to $25,000

$600,000

5%

$30,000

5.8%

$35,000

$700,000

5%

$35,000

6.4%

$45,000

$800,000

5%

$40,000

6.9%

$55,000

$900,000

5%

$45,000

7.2%

$65,000

$999,000

5%

$50,000

7.5%

$75,000

$1 million and up

20%

$200,000 and up

20%

$200,000 and up

million will be affected the most.

That could lead them to do one of the following: » Purchase before the new rules come into effect on Feb. 15 » Delay their purchase until they’ve saved the additional funds » Come up with the additional down payment through a gift from family » Buy a property under $500,000, which could mean they’d buy a condo instead of a house (in certain markets)

in Vancouver, according to the Canadian Real Estate Association.

Although the changes are meant to slow two of the country’s hottest real estate markets, the rules will apply across Canada. The changes will apply to new mortgage loans where a mortgage insurance application is received on Feb. 15, 2016 or later.

First-time homebuyers who planned on making a five-per-cent down payment on a property that costs between $500,000 and $1

The new rule changes are the latest in a series of moves since 2008 that have attempted to slow down the housing market. Some of the changes include decreasing the maximum amortization for insured mortgages to 25 years, increasing the minimum down payment from zero to five per cent, and raising the minimum down payment on investment properties from zero to 20 per cent.

Alyssa Richard is the founder and CEO of ratehub.ca, a mortgage rate comparison site that aims to empower Canadians to make smart financial decisions.

JAN 9 - 23, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 29

Hot Properties

Find your next home! This page features a few of the latest properties to keep your eye on in the Eastern Ontario area. Find more properties at ypnexthome.ca

LATEST LISTINGS

TEMPO BY GLENVIEW

PRINCE OF WALES ON THE RIDEAU

THE CORNERS ON MAIN

LIV TOWNS

By: Campanale Homes City: Ottawa South Housing type: Executive single-family homes.

Contact: 613.440.3750 campanale.com

By: Domicile City: Old Ottawa East Housing type: Midrise condos comprising a mix of six- and four-storeys.

Contact: 613.806.6246. cornersonmain.ca

By: Glenview City: Kanata Housing type: Townhome Contact: 613.595.0591 sales@glenviewhomes.com glenviewhomes.com/liv

RIDGE KANATA

GREYSTONE VILLAGE

TEMPO

By: Cardel Homes City: Kanata Housing type: Phase III in Richardson Ridge, popular home designs and several brand new models.

Contact: 613.435.5706 cardelhomes.com

By: eQ Homes City: Ottawa Housing type: Singles, towns, semis and condos. greystonevillage.ca

By: Glenview City: Kemptville Housing type: Two-storey singles and bungalows with loft options.

Contact: 613.797.6763 sales@glenviewhomes.com glenviewhomes.com/tempo

SPRING VALLEY TRAILS By: Claridge Homes City: Navan Housing type: Townhomes. claridgehomes.com

30 YPNEXTHOME.CA

CLARENCE CROSSING By: eQ Homes City: Rockland Housing type: Singles, towns and condos. clarencecrossing.com

BRIDLEWOOD By: HN Homes City: Kanata Contact: 613.435.8848 hnhomes.com

THE CORNERS ON MAIN BY DOMICILE

FINDLAY BY THE PARK

MINTO LANSDOWNE

By: Lemay Homes City: Leitrim Housing type: Singles, bungalows and townhomes Contact: 613.425.5255 lemayhomes.ca

By: Minto City: Ottawa Housing type: Condo Mintocondosale.com

SOHO CHAMPAGNE By: Mastercraft Starwood City: West Central Housing type: Luxury condominiums sohochampagne.com

SOHO LISGAR By: Mastercraft Starwood City: Ottawa Housing type: Condominium.

Contact: 613.798.7646 soholisgar.com

NAVAN By: Metric Homes City: Navan Housing type: Unique custom designed single-family home.

Contact: 613.296.7000. metrichomes.com

WESTBORO By: Metric Homes City: Westboro Housing type: Custom designed semi-detached homes.

Contact: 613.296.7000 metrichomes.com

MINTO BEECHWOOD By: Minto City: Ottawa Housing type: Condo Mintocondosale.com

CHAPARAL • GALLERY TOWNHOMES By: Tamarack Homes City: Orleans Housing type: Townhomes. tamarackhomes.com

UPPERWEST THE ORCHARD

By: Minto City: Ottawa Housing type: Condo Mintocondosale.com

By: Uniform Urban Developments City: Barrhaven Housing type: Single-family homes and townhouses. uniformdevelopments.com

WHITE TAIL RIDGE By: Phoenix Homes City: Almonte Housing type: Bungalows and singles.

Contact: Kellie Connors 613.461.0277 phoenixhomes.ca

RICHARDSON RIDGE By: Uniform Urban Developments City: Kanata Housing type: Singles, townhome and condo flats.

Contact: 613.435.7751 uniformdevelopments.com

FELTON COURT By: Phoenix Homes City: Barrhaven Housing type: Townhomes.

Contact: phoenixhomes.ca

BRADLEY ESTATES

THE BOWERY CONDOS & LOFTS By: Richcraft City: Centretown Housing type: Contact: 613.695.7577 thebowerycondos.ca

By: Valecraft Homes City: Mer Bleue/Orléans Housing type: Single-family homes and executive townhomes. valecraft.com

RAVENHILL COMMON By: Sprincress and Barry J Hobin and Associates Architects City: Ottawa - Westboro Housing type: Two- and three-bedroom freehold townhomes.

Contact: 613.825.0080 ravenhillcommon.com

Builders If you would like to include your preview registration, new release or site opening in this feature, just email the details to Nashrun.Kamaludin@ypnexthome.ca

JAN 9 - 23, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 31

Ad Index

Builder Name

Site Name

Prices

D

Location

et a Se che m d i Bu ng To alo w w n Ad hom ul t L e/C ife on st do yl e

ADVERTISERS

Page

WEST Arnprior

Campanale

Callahan Estates

x

Carleton Place

Brigil

Carleton Crossing

x

Carleton Place

Cardel

Stonewater Bay

Carp

Metric

Westlake South Estate

Kanata

Cardel

Kanata

x

x

Inquire

13

From Mid $100K

19

Inquire

9

Inquire

15

Blackstone

Inquire

9

Cardel

Richardson Ridge

Inquire

9

Kanata

Glenview

Monahan Landing

x

x

From $280's

8

Kanata

Mattamy

Fairwinds

x

x

From $259,990

4, 5

Kanata

Mattamy

Monahan Landing

x

From $229,990

4, 5

Kanata

Phoenix

Fernbank

From $369,900

16, 17

Kanata

Tamarack

Pool Creek Village

x

x

From $328,900

BC

Kanata

Uniform Developments

The Orchard

x

x

Inquire

6, 7

Kanata

Uniform Developments

Richardson Ridge

Inquire

6, 7

Stittsville

Brigil

Loreka Court

x

From Mid $400K

19

Stittsville

Cardel

Deer Run

x

Inquire

9

Stittsville

Metric

Arbourbrook Estates

x

Inquire

15

Barrhaven

Campanale

Longfields

x

Inquire

13

Barrhaven

Cardel

Longfields

x

Inquire

9

Barrhaven

Claridge Homes

West Pointe Village

x

x

Inquire

10, 11

Barrhaven

Mattamy

Half moon Bay

x

$229,990

4, 5

Barrhaven

Minto

Quinn's Pointe

x

Inquire

2, 3

Barrhaven

Tamarack

The Meadows

x

x

x

Inquire

BC

Leitrim

Lemay Homes

Findlay By The Park

x

x

x

From Low $300's

21

Leitrim

Tamarack

Findlay Creek

x

x

Inquire

BC

Ottawa South

Claridge

Bridlewood

x

Inquire

10, 11

Ottawa South

Claridge

Sundance

x

x

x

Inquire

10, 11

Ottawa South

Claridge

Summerhill Village

x

x

x

Inquire

10, 11

x

x

x

x

SOUTH

32 YPNEXTHOME.CA

x x

x

Site Name

Ottawa South

Uniform Developments

The Orchard

Richmond

Metric

King's Grant

Central

Claridge

Central

et a Se che m d i Bu ng To alo w w n Ad ho m ul t L e/C ife o st nd yl o e

Builder Name

Prices

D

Location

Page

x

Inquire

6, 7

x

Inquire

15

Fusion

x

From 266,000

10, 11

Claridge

Tribeca

x

From 343,000

10, 11

Central

Tamarack

Tamarack

x

From $274,400

BC

Downtown

Claridge

Claridge Plaza 3 & 4

x

From 311,000

10, 11

Metric

Camelot Estates

Inquire

15

Inquire

BC

Inquire

15

x

Inquire

2, 3

x

Inquire

10, 11

Inquire

18

x

x

CENTRAL

EAST Cumberland

x

East Orleans

Tamarack

Cardinal Creek Village

x

Orléans

Metric

Notting Hill

x

Orléans

Minto

Avalon Encore

Navan

Claridge

Spring Valley Trails

x

Russell

Tartan/Corvinelli Homes

Russell Trails

x

Barrhaven

Campanale

Longfields Station

x

Inquire

C16

Downtown

Arthaus

Arthaus Condos

x

Inquire

C2

Downtown

Richcraft

Bowery

x

From $179,000

C4

Kanata

Equinelle

Foxwood

x

Inquire

C11

Navan

Domicile

Crème

x

From $275,900

C3

Orléans

Brigil

Petrie's Landing

x

From $190,000

C5

Ottawa Central

Claridge

Icon

x

From $281,000

C8, C9

Ottawa Central

Claridge

Waterstreet

x

Inquire

C8, C9

Ottawa Central

Mastercraft starwood

Soho Champagne

x

Inquire

C15

Ottawa South

Theberge Homes

Hunt Club Towns

x

Inquire

C13

West Nepean

Claridge

Stirling Park

x

From $236,000

C8, C9

x

x

x

x

x

CONDO

JAN 9 - 23, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 33

Neighbourhood Profile

Glebe-Dows Lake One of the places to live in Ottawa

By Lindsay Foran

Fast facts THE GLEBE is one of Ottawa’s oldest

suburban neighbourhoods, and it is still regarded as one of the places to live in Ottawa. The Glebe is bordered by the Rideau Canal to the south and the east, it runs as far as Dow’s Lake, and finishes at the Hwy 417.

The Glebe is Ottawa’s “it” place.

From trendy hair salons, to unique clothing stores, people want to shop here, but living here may be a challenge due to the cost. Most residents drive to their offices, but many also bike, walk or hop on the bus. This family-oriented community opens its arms to everyone who wants to walk the streets and hope that they too can one day move to this coveted neighbourhood.

TAKE A VIDEO TOUR ONLINE ypnexthome.ca/glebe-dows-lake

Average household income

$155, 538 Family structure FAMILIES

COUPLES

SINGLES

31%

34%

35%

Own vs. rent

59% OWNERS

41%

RENTERS Education levels

73%

18%

9%

UNIVERSITY

HIGH SCHOOL

COLLEGE

SOURCE: ENVIRONICS

Vibe The Glebe is one of the only places in Ottawa where suburbia meets the trendy hipster lifestyle. From one corner to the next the atmosphere changes. There are large, expansive, $1-million homes, to student complexes where residents sit on the grass strumming their guitars. From the busy and scenic Rideau Canal, to the hustle and bustle of Bank St, the Glebe has everything you could possibly need.

Meet the neighbours The Glebe is home to anyone from student renters to artists, families and retirees. The area attracts wealthy

buyers who want to live downtown, but who are still in need of a suburban feel. Don’t be mistaken – the Glebe is anything but suburban. With an array of artwork, funky shops, and hip restaurants, this area is family-friendly with the trendy vibe that keeps you feeling young.

In the area To buy real estate in the Glebe, you need money – lots of it. The other option is to find a fixer-upper for cheap, then renovate it to your tastes and budget. Either way, this isn’t the place for someone on a budget. From coffee shops to hair salons, everything is above average in this area.

Planes, trains & automobiles The Queen Elizabeth Parkway is an easy way to get across the Glebe.

This route leads you to Hwy. 417, downtown, or continue west. The best way to commute in this area?

Take your bike along the Rideau Canal, to wherever you need to go.

The good, the bad & the rest Constant energy pulses throughout the streets. Walk down Powel and into quiet suburbia. Head a few blocks west to Bank Street and you’ll find a rush of pedestrians, commuters and cyclists.

One major attraction: The Great Glebe Garage Sale. This event attracts thousands to the area each May.

Lindsay has lived in the Ottawa/Gatineau area her whole life. When she’s not touring the city in search of the hottest new neighbourhoods she’s busy writing fiction and enjoying life with her husband and two dogs.

34 YPNEXTHOME.CA

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THE NEW

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WE’RE MOVING IN! TO 1448 SQUARE FEET OF UPGRADED TAMARACK LUXURY Private garage, spacious balcony, 6 appliances, and air conditioning – all included! * a month.

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1200

*principal and interest payment based on 10% down and a 2.59% 5 yr. xed mortgage rate.

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