Eastern Ontario New Home & Condo Guide - Jan 23, 2016

JAN 23 - FEB 6, 2016 VOLUME 16, ISSUE 2, FREE

-O PULL UT SEC AL TI CI

N O

SP E

EASTERN ONTARIO EDITION

CO

FEATURING

N

DO M

INSIDE THIS ISSUE

ASSEMBLING YOUR HOMEBUYING TEAM

PREPARING FOR THE NEW DOWN PAYMENT RULES

HOW TO D.I.Y. TO SAVE IN YOUR NEW HOME

IT IE S

spotlight on condos U INIU M COMM

N

IS NOW MORE AFFORDABLE THAN EVER!

TALBOT

1,813 sq. ft.

Find the Minto home that’s right for you at one of our locations across the city.

Arcadia • Kanata

Quinn’s Pointe • Barrhaven

Chapman Mills • Barrhaven

Avenue Townhomes from $242,900

Avenue Townhomes from $225,900

Infusion Terrace Homes from $189,900

Executive Townhomes from $292,900

New Executive Townhomes from $254,900

Single Family Homes from $324,900

Single Family Homes from $314,900

KILLARNEY

FITZROY

AVENUE TOWNHOME – DOWNING

2,406 sq. ft.

2,275 sq. ft.

1,268 sq. ft.

Avalon Encore • Orléans

Enclave at TrailsEdge • Orléans

Mahogany • Manotick

Avenue Townhomes from $225,900

Executive Townhomes from $289,900

Single Family Homes from $464,900

New Executive Townhomes from $249,900

Single Family Homes from $396,900

Single Family Homes from $318,900 Infusion Terrace Homes from $184,900

From our family to yours

ottawahomes.minto.com

E.&.O.E. Prices and specifications are subject to change without notice. Restrictions apply.

TRADITIONS II INVITES YOU TO DISCOVER EXCEPTIONAL NEW HOME LIVING WITH APPEALING EXTRAS Each home in Traditions II includes amazing incentives with an abundance of usable square-footage to accommodate modern family living.

ELEV. ‘B’

TOWNHOME, THE HIGHGATE END ‘B’ 2,217 SQ.FT. $304,990

38' HOME, THE MADISON ‘B’ 2,027 SQ.FT. $399,990

INCLUDES: 3 Stainless Steel Appliances, Gas Fireplace, Ceramic Tile In Lieu Of Vinyl, Finished Basement & $20,000 At Décor

INCLUDES: $25,000 At Décor & Walkout Basement

FOLLOW US:

Marigold Corner Model Home in Monahan Landing, Kanata

STITTSVILLE Townhomes

From $274,990

N

HA

L ZE

A DE

AD RO

T OT BB

T OT BB

E RE ST

T

A

E RE ST

T

W

SALES CENTRE

ST

1879 Stittsville Main Street

AD RO

613-435-7171 LD

A

SALES CENTRE

L FA

W LO

AD RO

FIE

TS LE

EA SH

VIL AIN AD RO

AD RO

M

From $399,990

EA

NK BA RN FE

T ES

IT ST

Detached Homes

N

38' HOME, THE ANNEX ‘A’ 2,621 SQ.FT. $429,990

46' HOME, THE SOHO ‘A’ 2,816 SQ.FT. $449,990

46' HOME, THE WYNWOOD W/LOFT ‘A’ 2,654 SQ.FT. $499,990

INCLUDES: $25,000 At Décor & Walkout Basement

INCLUDES: $25,000 At Décor & Walkout Basement

INCLUDES: $30,000 At Décor & Walkout Basement

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

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 single family home on a 50’ lot for about $100,000 less than you’d pay for an equivalent home in the city. There’s also a great selection of bungalows and semi-detached bungalows. 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 5 beautiful decorated models open for viewing.

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 160 Esterbrook Dr. 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

BLISS 1775 sq ft Aspire Townhome

(Block 10 Unit 51) Over $25K in upgrades

$323,900 NOw $317,900 AVAILABLE IN 6 wEEKS

moreStyle

YE A R S

contents JAN 23 - FEB 6, 2016 | VOLUME 16 ISSUE 2

PRESIDENT, YELLOW PAGES NEXTHOME

Jacqueline Hill EDITOR-IN-CHIEF / DIRECTOR OF CONTENT

Susan Legge DIRECTOR OF SALES

Moe Lalani

22

C06

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)

SALES CO-ORDINATOR, EASTERN ONTARIO

Sarah Khan

C06 Campanale Homes

The Station – Barrhaven’s newest form of luxury

NATIONAL CIRCULATION MANAGER

John Jenkins

PRODUCTION MANAGER

Bala Gnanapandithan

advice

PRODUCTION CO-ORDINATOR

Dennis Ng

ON THE COVER

Richcraft

Trailsedge – where nature meets luxury

GRAPHIC DESIGNERS

C14 Home Smarts

Miguel Cea, Mike Terentiev

Assembling your homebuying team

by Marnie Bennett

020 Mortgage Advice 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

Preparing for the new down payment requirement

Are mortgage rates really on the rise?

by Alyssa Richard

021 Fundamentally Speaking Infrastructure’s big boost

by Wayne Karl

024 GOHBA Report

Time for a reality check on taxes to pay for city building

by John W. Herbert

028 Design Secrets

Do-it-yourself and save money in your new home

by Jane Lockhart

+ online NEIGHBOURHOOD

HOME SEARCH

PUBLISHED Saturdays, 2016 Publishing Schedule:

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

5 hottest markets where you can buy for less than $500K

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.

Editors' Notes WESTBORO

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

MORE PHOTOS ONLINE ypnexthome.ca/westboro

Our teamwork has got you covered We are always looking for new stories and news about real estate for our magazines and website.

While the team here at New Home Guide and YPNextHome.ca attends events across the country, we also have a team of talented freelance writers and celebrity talent who help us cover all the bases.

The team’s focus over the last 12 months has been profiling, collecting data, photos, videos and text for some of Canada’s top neighbourhoods so our readers and users can get an in-depth view at the local level. You’ll find data for almost 3,000 different neighbourhoods across the country that includes information about the

type of housing available and the people who live there.

Check out one of our team member’s personal journey through a key neighbourhood in this issue.

There’s plenty more to see online at YPNextHome.ca Check out our search tool online and discover new properties and neighbourhood details.

It’s been an amazing experience to develop this content, and we’re thrilled with the results. New neighbourhoods are being added every week. Please let us know what you think – and if you have a favourite neighbourhood you’d like us to profile, drop us a line.

We love hearing from you.

Ottawa proves its worth over the long term

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

+ get social 14 YPNEXTHOME.CA

So much has been made – especially over the last few years – of how hot and strong other real estate markets in Canada have become.

Ottawa usually doesn’t make the cut in this conversation. But it should.

As we’ve written on occasion in New Home & Condo Guide’s Eastern Ontario Edition, there’s absolutely nothing wrong with slow and steady.

Indeed, looking back over the last 20 years in terms of price appreciation, Ottawa is one of the

top performing markets in Canada.

In fact, it ranks seventh, with an annual rate of return of 5.23 per cent. Yes, Toronto and Vancouver have generated higher returns (6.21 and 6.16 per cent, respectively), but even those markets aren’t tops. That distinction belongs to Edmonton and Calgary (current challenges there notwithstanding).

One key attribute in Ottawa’s case is affordability – with an average price still south of $370,000.

Interact with us on social media: ypnexthome

*Artist’s Rendering of the Picasso shown. Please see Sales Consultant for details. E. & O.E.

INTRODUCING THE

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

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

visit us at our model home & sales centre

CHOOSE QUALITY in 2016

GATINEAU AVIATION PRIVATE

ORLEANS

BRADLEY ESTATES

OTTAWA

KANATA WOODROFFE LOFTS

TRAILWEST

BARRHAVEN

STITTSVILLE

PLACE ST. THOMAS EMBRUN

RATHWELL LANDING

Building New Homes in Your Desired Communities For over 30 years, Valecraft has built solid, well-designed and crafted homes. We have old-fashioned ideals, but we rely on the most modern building technologies to bring those ideals to life.

Explore our available communities and find your perfect home!

Valecraft.com

STITTSVILLE

KANATA

BARRHAVEN

CENTRAL EAST

ORLEANS

EMBRUN

(613) 435-8141

(613) 435-5400

(613) 440-0304

(613) 680-4771

(613) 830-6955

(613) 370-0288

Single Homes Bungalows Townhomes

Townhomes

Condos

Terrace Towns Rear Lane Towns

Single Homes Bungalows Townhomes

Single Homes Bungalows

90% SOLD

* See sales consultant for details. Prices, terms and specifications are subject to change without notice. E & O.E.

JAN 23 - FEB 6, 2016 VOLUME 16, ISSUE 2, 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

Follow us

/arthauscondos

@DevMcGill

@DevMcGill

Revision # Studio Material Deadline

Find potential and build on it.

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

Final Bleed Final Live

C3

Ad Number

Final Trim

spotlight on condos

Our new ten-storey building in Beechwood is named in honour of one of the community’s most beloved members: Rupert Kavanaugh, whose neighbourly charisma made his Esso gas station a place people would happily go out of their way to visit. Now, we’re inviting you to take the time to visit our new model suites, where you’ll also see the new commemorative gas pump in the lobby. We’re sure it will be worth the trip as well. 86 Beechwood Ave. 613-868-7597

Insertion date

A new story begins.

A legacy continues.

A VIEW

TO COME HOME TO Centretown’s hottest new condo building is now on the 15th floor!

spotlight on condos

Fall 2016 occupancy from $181,000

C4

FREE STORAGE LOCKER HARDWOOD THROUGHOUT 5 APPLIANCES QUARTZ COUNTERTOPS THROUGHOUT PLUS CHOICE OF: UPGRADED DESIGNER PACKAGE OR 1 YEAR NO CONDO FEES

UNDER CONSTRUCTION AT 255 BAY STREET Sales Centre | 136 Bank Street | 613.695.7577

thebowerycondos.ca

1 & 2 Bedroom Condos • heated underground parking • elevator • stainless steel appliances

613-440-3750 • 600 Via Campanale Avenue • campanale.com

spotlight on condos

NOW UNDER CONSTRUCTION

C5

Property Profile | CAMPANALE HOMES

cover story

The Station Step into Barrhaven’s newest form of luxury

spotlight on condos

IT WAS BOUND TO HAPPEN.

C6

The growing interest in the community of Longfields Station has set the stage for Campanale Homes’ newest venture, The Station, Barrhaven’s one and only luxury condominium.

Referenced by Ottawa’s real estate professionals as “the Jewel of Barrhaven,” this executive-style apartment condominium is a 36-unit lowrise four-level residence located only a short walk to the new Longfields Transit station and directly across the street from the expansive greenspace of South Nepean Park. Close to nature trails, parks, shopping complexes, schools

and many other amenities too numerous to list, this luxurious condominium is truly situated in the heart of Barrhaven.

The Station will redefine Barrhaven’s skyline with its contemporary design, and as one of the community’s most iconic structures, a selection of units feature an unobstructed view of the surrounding parks and greenspace. Campanale Homes encourages prospective homebuyers to register early, so they will have priority choice of the available oneand two-bedroom units. With pricing starting as low as $224,900, buyers are already

expressing interest in tuning in to the prestige of this luxury condominium. Indoor parking, an elevator, and a virtually maintenance-free lifestyle appeal to not only empty nesters, retirees and snowbirds, but also to young professionals and firsttime homebuyers because of its investment potential.

The 36 condo-apartments themselves will be available in 12 different floorplans, some with convertible dens and most featuring huge balconies with an entrance from the master bedroom. An in-unit utility room with laundry facilities will be an added convenience. Sizes will

“Close to nature trails, parks, shopping complexes, schools and many other amenities too numerous to list, this luxurious condominium is truly situated in the heart of Barrhaven.”

Location

615 Longfields Dr. Builder

Campanale Homes Development

Longfields Station Home Type

One- and two-bedroom condominiums Sales Centre

600 Via Campanale Ave. Open Monday to Thursday noon to 8 p.m.; Saturday, Sunday and holidays noon to 5 p.m.

Contact

613.440.3750 campanale.com/thestation.php longfields@campanale.com

range from 600 to almost 1,200 sq. ft. with plenty of natural light through thermally efficient windows.

As with any Campanale home, you can expect premium finishes and treatments, as well as energy efficient appliances and all the amenities that have made Campanale one of the region’s most awarded builder.

Every condo unit will be loaded with high-end features, including stainless steel appliances, ceramic and hardwood flooring, central air, high ceilings, European style cabinetry, granite counters and so much more.

Each unit has an available parking space and storage locker. You can expect these luxury units to sell out fast when construction begins later

this month, so get on The Station’s wavelength and get your pick of the homes, and the best prices.

The ground floor of The Station is reserved for seven light commercial occupancy. These seven commercial units will complement the building and surrounding neighbourhood.

Six of the seven commercial units are already sold. The Station luxury condo will provide the community with a variety of businesses, including a dentist, chiropractor, doctors, a driving school, a bistro with a 600-sq.-ft. patio and the Campanale Homes sales centre.

Entrances will be designed with security in mind and business and residential traffic will be completely

separated. Campanale is providing high quality commercial occupants who will supply professional services that would benefit the residents of The Station and the local community, adding to the list of amenities that are already available in Barrhaven.

The Station is currently in construction and will be move-in ready fall 2016. In the images above, you can see how far the project has already come!

The Station is expected to be sold out soon, so don’t delay in speaking with one of their friendly sales consultants at the Longfields Station Sales Centre. Call 613.440.3750, or visit the sales centre for your choice of luxury unit.

JAN 23 - FEB 6, 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

spotlight on condos

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

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

YE A R s

C9

TOWER II CONSTRUCTION SUMMER 2016 PRE-CONSTRUCTION PRICES

180’S*

in the $

spotlight on condos

Waterfront luxury condominiums • Urban lounge on the top floor • Pool & spa • Exercise room • Patio and leisure room with kitchen • Elevators & indoor parking • Secure entrance • Storage lockers

C10

Construction Spring 2016 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.

brigil.com

LIVE BY THE RIVER TODAY Own in Orléans premier waterfront community • Only 15 minutes from downtown • Situated in a private enclave surrounded by parks, nature trails and recreational features at Petries Island

Move in today and save thousands!

Two model suites now open *

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

Elevators & indoor parking On select units! *

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.

brigil.com

spotlight on condos

2 bdr. condos from $ 208,800

C11

Trending

Preparing for the new down payment requirement

By Wayne Karl

FEB. 15, 2016 LOOMS large on the

mortgage landscape – that’s when the new down payment requirement kicks in for properties between $500,000 and $1 million.

Federal Finance Minister Bill Morneau in December announced changes to the rules for governmentbacked mortgage insurance, intended to contain risks in the housing market, reduce taxpayer exposure and support long-term stability.

Effective Feb. 15, the minimum down payment for new insured mortgages will increase from five 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.

What does this mean for first-time homebuyers?

Buying a house for less than $500,000? » The new down payment requirement will not affect you Buying for between $500,000 and $1 million? You have four choices: » Buy before Feb. 15 to avoid the new requirement, to still be able to put down five per cent » Delay your purchase until you’ve saved the additional funds for the new, higher down payment » Somehow come up with the additional funds now, say, with help of the Bank of Mom and Dad, or » Buy a home that is priced at less than $500,000. Depending on the market you’re in, that could mean you’d then be looking at condo, instead of a lowrise home For example, if you’re buying a property for $800,000, you would need to make a down payment of five per cent on the first $500,000 C12 YPNEXTHOME.CA

($25,000) and 10 per cent on the remaining $300,000 ($30,000). This 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.

Buying for more than $1 million? » The changes will not affect you.

You’ll need a down payment of 20 per cent, before or after the change in regulations on Feb. 15 Regional markets to be impacted While the new down payment requirement was intended primarily to slow the housing markets in Toronto and Vancouver – where average home prices are $630,876 and $947,334, respectively – the impact could be felt most elsewhere. CIBC Deputy Chief Economist Benjamin

Tal says Calgary will be hit hardest, 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.

Spike in homebuying activity 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,” Ross says.

Expect market activity to go up substantially on homes priced between $500,000 and $1 million through until the deadline.

Existing eligibility rules

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 $600,000 $700,000 $800,000 $900,000 $999,000 $1 million and up

5% 5% 5% 5% 5% 5%

Up to $25,000 $30,000 $35,000 $40,000 $45,000 $50,000 $200,000 and up

5% 5.8% 6.4% 6.9% 7.2% 7.5%

Up to $25,000 $35,000 $45,000 $55,000 $65,000 $75,000 $200,000 and up

20%

MORE TRENDING ONLINE ypnexthome.ca/news

20%

spotlight on condos

C13

Advice | HOME SMARTS

When the personal becomes professional Assembling your homebuying team

By Marnie Bennett

MORE ADVICE ONLINE ypnexthome.ca/news/advice MOST OF YOU would agree that

meeting the love of your life is a monumental event. From observing my clients over the last 30 years, I’d argue that falling in love with a home runs a close second. Walking into a new home or model and feeling your pulse quicken is a magical sensation.

When you feel a strong personal connection with a certain place, you won’t sleep until it’s yours.

It may seem strange that such a personal experience involves working with so many other people.

But when you’re making the biggest financial investment of your life, it’s always wise to depend on the advice and expertise of professionals.

Depending on your personal circumstances, you may consider consulting with the following: Mortgage specialist: Ideally, you will have met with a mortgage broker or mortgage specialist from your bank or lending institution prior to beginning your home hunt. Understanding how much money you have to work with is an excellent first step to narrowing your search, and obtaining a preapproved mortgage can save both time and grief in the long run.

Realtor: While it’s possible to purchase a new home without the assistance of a realtor, there are several benefits – and no drawbacks – to having a real estate professional in your court. Realtors understand the market better than anyone else, and can provide terrific insights on C14 YPNEXTHOME.CA

“…many purchasers of new homes choose not to hire a home inspector. However, I often encourage my clients to spend the few hundred dollars it costs to ensure that their new home has been built to code. neighbourhoods, investment values and negotiating with a builder. Best of all, there’s no cost associated with hiring a realtor to purchase a home.

Real estate lawyer: This is an absolute must. A good lawyer will walk you through the paperwork, explain fees, and protect you from real estate fraud.

Home inspector: Because new homes in Ontario are covered under the Tarion Warranty, and because a pre-

delivery inspection with the builder is part of the new home buying process, many purchasers of new homes choose not to hire a home inspector. However, I often encourage my clients to spend the few hundred dollars it costs to ensure that their new home has been built to code.

Most homebuyers are smart cookies.

But, in matters of love, the heart rules the head. That’s why, when it comes to buying a home, it pays to have professionals do some of the thinking for you.

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

spotlight on condos

C15

A more intimate approach to condominium living.

Visit us this weekend in Fernbank Crossing and prepare to be amazed!

Every suite from the Foxwood Collection is a corner suite featuring the world-class design of Barry Hobin. There are just 12 magnificent suites in each intimate, 3 storey building that is the perfect home for people looking for lock and leave convenience.

spotlight on condos

• 1 UNDERGROUND PARKING SPOT INCLUDED • GRANITE COUNTERTOPS

C16

• HARDWOOD FLOORS • STAINLESS STEEL APPLIANCES • ELEVATOR • LARGE SUITES UP TO 1430 SF • 9’ CEILING HEIGHTS

TO U R O U R FA B U LO U S N EW M O D EL SU I T ES STITTSVILLE

300’s

$

PRICED from the low

339 Bobolink Ridge, Stittsville off Fernbank Rd. Hours: Monday to Thursday: 10am - 5pm. Friday: 11am - 5pm. Saturday & Sunday: 12pm - 5pm.

TWO MORE INNOVATIVE DEVELOPMENTS FROM THE REGIONAL GROUP OF COMPANIES INC.

eqhomes.ca

Prices and specifications are subject to change without notice. E. & O.E. All renderings are Artist’s concept. *See Sales Representative for further details.

Featured Model YALE – 2,005 sq.ft. 3

2.5

Double-car garage • open-concept design luxurious finishes • walk-out basement & much more Save up to $40,000

Singles

from the $390’s*

613.831.0126 167 Loreka Court StIttSVILLe

Drive a little, Save a lot Singles from the $370’s* Semis from the $280’s* Towns from the $270’s* New 1 & 2 bdr. condos now available for rent!

613.257.4079 117 MCGreGor St. CarLeton PLaCe

*See Sales Representative for details. Prices, specifications, features and offerings are subject to change without notice. E & O.E.

brigil.com

Advice | MORTGAGE ADVICE

Are mortgage rates on the rise?

By Alyssa Richard

EARLIER THIS MONTH, a couple of

Canada’s major banks announced they would raise mortgage rates. Is this a sign of things to come?

In early January, Royal Bank of Canada announced it was raising rates on several mortgages. Its special offer five-year fixed closed rate increased by 10 basis points to 3.04 per cent. The bank also increased its two-, three- and four-year fixed closed rates by 10 basis points. And its five-year variable closed increased by 15 basis points to prime minus 0.10 per cent. CIBC soon followed suit and raised its special offer rates as well.

Many of the Big Six banks – TD, Scotiabank and National Bank – raised rates in the months before RBC did and no one seemed to notice. But because RBC is the largest bank in the country, people tend to take note.

The big banks are raising rates because they expect interest rates to go up in the long term. Also, January isn’t a very competitive time of the year. Fewer people tend to buy homes because they don’t want to move in the winter. And banks aren’t as aggressive with rates because they don’t have to be. It’s not uncommon for rates to rise during a slower buying and selling season. But in the spring and summer, banks tend to be more aggressive and rates will likely go down again.

But not all lenders have been raising rates. Recently, some smaller lenders have actually lowered their five-year fixed rates.

It’s also an interesting time in the mortgage market because fixed-rate mortgages are heavily influenced by Canadian government bond yields.

When bond yields decline, fixed-rate mortgages usually follow. On Jan. 13, five-year government bond yields dropped to a record low as the price 20 YPNEXTHOME.CA

Many of the Big Six banks – TD, Scotiabank and National Bank – raised rates in the months before RBC did and no one seemed to notice. But because RBC is the largest bank in the country, people tend to take note. of oil fell to its lowest level in more than a decade and because there are expectations that the Bank of Canada will cut its key interest rate – the overnight lending rate – again.

On Jan. 20, the Bank of Canada (BoC) made its key interest rate announcement and there was speculation among many economists that there could be another cut. TD

MORE ADVICE ONLINE ypnexthome.ca/news/advice

Economics says a “case exists for a rate cut” and CIBC Economics believes the odds are tilting ever so slightly on the side of a reduction.

But not everyone expected a cut to be imminent. Economists at Scotiabank predicted the BoC would pass on the opportunity to reduce the overnight rate, but further reductions are possible in the future.

A cut will likely mean lenders would reduce their prime rates, which should lead to lower interest rates for variable-rate mortgages. Last year, the BoC cut the overnight rate twice. It’s remained at 0.50 per cent since July.

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.

Advice | FUNDAMENTALLY SPEAKING

Infrastructure’s big boost

By Wayne Karl

MORE ADVICE ONLINE ypnexthome.ca/news/advice THERE’S AN OLD JOKE that Canada has only two seasons – winter and construction. But traffic and congestion are anything but laughing matters.

Unfortunately, such is life now and for the foreseeable future. Once upon a time, construction season may have been only during the warmer weather months. But those days are over. You can now count on it almost being a 24-7, year-round endeavor.

Indeed, with continuing immigration, general growth and construction expansion – all happening at a quicker pace than infrastructure improvements

“…look around to see how far you are from the nearest highway or rapid transit system” – our highways and transit systems are being strained like never before.

This is why the provincial government last year committed to a comprehensive 10-year economic plan that includes more than $130 billion in infrastructure investments.

Why, you may be wondering, should you care about all this stuff, as a prospective homebuyer?

As you’ve likely experienced firsthand, proximity to infrastructure is becoming more important than ever.

Access to a variety of amenities and essentials – from transit to health care to schools to shopping to recreation – is a critical determining

factor for builders and buyers alike. It matters for lifestyle and comfort while you live there, as well as for resale potential down the road.

So, stop waiting for construction season to end. While you’re out shopping for your new home, look around to see how far you are from the nearest highway or rapid transit system – existing or under construction – that affords you a reasonable commute; and how close you are to health care, schools, shopping and recreation. These communities will be at a premium, now and in future.

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

JAN 23 - FEB 6, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 21

Property Profile | RICHCRAFT HOMES

cover story

Trailsedge by Richcraft Where nature meets luxury THE EAST END’S newest

community is located just east of Blackburn Hamlet and south of Orleans. Richcraft is building a neighbourhood of quality singlefamily homes and townhomes that are anything but ordinary. Residents of Trailsedge find the charm, intimacy and spirit of small town life in perfect balance with big city amenities. Cosy streets lead to biking paths, nature trails, neighbourhood parks, schools, sports facilities, big box shopping and the Hwy. 417 thoroughfare.

There are many great reasons to call Trailsedge home, but homebuyers seem to be most attracted to its proximity to nature without having 22 YPNEXTHOME.CA

to sacrifice the convenience of amenities. Trailsedge, as its name suggests, is surrounded by bike trails, walking paths, 15 acres of protected forests and five acres of parkland.

There is also a nearby conservation area that is ideal for walkers and cross-country skiers. Where else can you so easily escape the bustle of the city and find a quiet oasis?

Trailsedge isn’t just about nature.

For those who prefer the comforts of the indoors, there is a movie theatre, a fitness centre and many options for shopping. Best of all, Trailsedge is only minutes from the 417, meaning the rest of the city is right at your fingertips. With a new elementary and high school opening in September

2016, plus already existing top rated schools to choose from, you can rest assured that this is the ideal neighbourhood for your family.

Trailsedge is about finding what suits your needs best. Choose from an array of premium lots. Whether you want a quiet cul-de-sac or a forest facing lot, the option is yours.

Buyers can also choose from an array of floorplans, including singlefamily homes, urban townhomes and executive townhomes.

The single-family homes offer a collection of Energy Star certified homes with a contemporary, urban style living. Full-length windows allow for a cascade of natural light, while smartly designed, open concept

MORE PHOTOS ONLINE ypnexthome.ca/richcraft-trailsedge

Location

Blackburn Hamlet, Orleans Builder

Richcraft Homes Development

TrailsEdge Home Type

Single-family, bungalows, executive townhomes, urban towns Sales Centre

6151 Renaud Rd., open Monday to Thursday noon to 8 p.m., Saturday, Sunday and holidays noon to 5:30 p.m.

Closed Friday Contact

T 613.424.6600 F 613.424.6639

floorplans provide abundant space.

Boasting refined natural details with a strong focus on both functionality and sophistication, these luxury single-family homes feature a formal living room and dining room; a welcoming, open concept kitchen, leading into a generous family room, and an expansive master suite.

The executive and urban townhomes are Energy Star certified, stylish and affordable. Inviting spaces are further enhanced by the light from generous oversized windows and nine-ft. ceilings on the main level. Open concept layouts, gourmet designed kitchens and spacious outdoor living space create a

welcoming and inviting home.

Over time, a prosperous community of more than 2,000 homes and commercial properties will be built at Trailsedge. Ideally situated within a 20-minute drive to downtown Ottawa, this area will eventually be serviced by rapid transit. A fantastic neighbourhood and fantastic home value combine to make Trailsedge the perfect place to call home.

For more information on Trailsedge, please contact the sales centre or visit richcraft.com

JAN 23 - FEB 6, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 23

Advice | GOHBA REPORT

Time for a reality check on taxes Costs for city building must be equitably distributed

By John Herbert

There’s only one taxpayer With the City of Ottawa’s 2016 budget now behind us, it’s time to reflect on exactly what it means to raise taxes and fund a sustainable city.

The 2016 budget includes a tax increase of two per cent for residential property owners, a sixper-cent increase to water and sewer rates, and a 2.5-per-cent transit fare hike. To some, these numbers may seem reasonable and prudent and a sign of strong fiscal management 24 YPNEXTHOME.CA

structured to plan for our future.

However, the City of Ottawa, and indeed most major Ontario cities, are also using other taxing mechanisms that are masking a longer-term problem that needs to be acknowledged and discussed.

Under the current funding model, the continued healthy growth of Ontario cities is not sustainable, and the very fixes being put into place to combat these issues are exacerbating the problem.

During the last half of the 20th century, Canada became an increasingly urbanized country and in order to keep up with this transition, cities had to increase expenditures

on infrastructure. These expenditures had been shared successfully by the provincial and municipal levels of government but when the recessions of the early 1980s began, changes had to be made. Provincial tax revenues declined and they could no longer afford the previous levels of municipal transfer payments. In order to resolve this shortfall they created the concept of downloading, whereby significant costs were shifted onto the shoulders of municipal governments. It was a little like the old game of hot potato. The province had “solved” its financial problems by simply passing them on to cities.

increasing property taxes very much.

Even better, the tax could be rolled into a new home buyer’s mortgage and paid over 30 years, so the pain would be negligible. Or so they thought.

The Ontario government created the Development Charge Act in 1989 that would henceforth allow municipal governments to collect whatever amount of tax they needed but only from new home buyers and developers of new rental housing. In order to head off opposition to the new tax, governments used the technique of misdirection by pitting urban against suburban residents and came up with the phrase, “Growth must pay for growth.” This implied that new suburban residents hadn’t been paying their fair share and so henceforth, enlightened government would ensure that they did.

MORE ADVICE ONLINE ypnexthome.ca/news/advice

Municipal governments initially tried to cope by raising property taxes, but by the late 1980s taxpayer unrest had reached new highs and a decision had to be made either to reduce infrastructure spending or find new sources of revenue. If government had decided to bring expenditures in line with their ability to pay and reduced spending accordingly, the system would have eventually found a new equilibrium.

Regrettably, government discovered a method of raising significant new tax revenue, and happily for elected officials, its existence would be hidden from the general public and only incurred by a relatively small group of people who were new home buyers and renters of new accommodation.

This was an ideal solution because it would allow political leaders to continue city building without

This worked well for several years.

However, urbanization continued to increase, the number and level of services being provided by municipalities expanded, and as a consequence, Development Charges had to increase at a dramatic rate.

In fact, this tax increased from approximately $2,000 per home in 1989 to $35,000 per home in 2015.

As with all things, when prices increase, demand declines and so the housing affordability crisis now being experienced in Ottawa has resulted in 25 per cent fewer homes being built than only two years ago.

This has resulted in a proportional decline in city development charge tax revenues. We are now facing the same deja vu moment as in the late 1980s, and described in the opening paragraphs of this column.

Will government make a conscious decision to bring its spending in line with revenues, or will it look for methods of generating the additional tax revenues that are required to fund continuing expenditure increases?

Time for a reality check In late December 2015, the Province of Ontario approved a new tax that every municipality in Ontario can adopt and bury in their existing Development Charge Bylaw. Once again, the existing property tax base will not be affected, and it will be business as usual. This new transit tax, estimated to be approximately $5,000 per home will mainly be paid by a rapidly disappearing breed of new home buyers, as well as by renters of new units. (Some will be paid by owners of commercial and industrial developments.) Once again, it will be included in the price of new homes, be essentially invisible to media and tax payers at large and be rolled into a new home buyer’s mortgage.

The City of Ottawa has advised that they intend to adopt the new tax as early as possible in 2016. It appears that once again, there is no intention to try and reduce expenditures when access to an easy new tax is available.

Municipal governments in Ontario have been using new home buyers and renters to pay for debt that should rightly be shouldered by all city residents which had been the practice up until the introduction of the Development Charge Act in 1989.

Canadians have always cared about their neighbours and have shared costs that are too great for one individual or family to shoulder. This is why we share education, healthcare and transportation costs. But a decision was made in 1989 to stop sharing city infrastructure costs because it was politically expedient— not because it was the right thing to do.

Constantly increasing levels of taxation on small minorities of the population to fund citywide infrastructure is not sustainable. The costs of these projects should rightfully be borne by all city residents and that is the only means by which equilibrium can be restored and the housing affordability crisis resolved. There should be only one level of tax payers when funding city building.

John W. Herbert is executive director of the Greater Ottawa Home Builders’ Association. He can be reached at 613.723.2926, ext. 224, or visit gohba.ca

JAN 23 - FEB 6, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 25

Homebuyers’ Help

Compare mortgage rates for your best deal CHARTERED BANKS

variable

ATB Financial

2.6

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 2.6

TD Canada Trust

2.6

Tangerine

2.7

6 months

1 year

2 years

3 years

4 years

5 years

4 4.00op 4 6.30op 4 6.75op 4.55 6.45op 4 6.45op

2.94 4.00op 2.85 6.30op 2.89 6.75op 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

2.98

2.99

3.39

3.89

2.89

3.09

3.39

3.89

4.49

3.04

3.65

4.2

4.74

2.24 2.79

2.39 2.59

2.59 2.84

2.74 4.79

3.65 2.94

3.64 2.84

3.69 2.79

3.69 2.89

3.04

3.39

2.84

3.04

2.79 2.39

3.34 2.74

3.99 2.84

4.44 3.04

2.84

3.39

2.74

2.94

3.24

3.49

3.69

3.79

6.95op 4.45 4.4 6.70op

6.75op

3.14 6.75op 2.99 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 2.84

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

2.89

2.24 2.79

2.54 2.89

2.74 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

2.69

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 January 18, 2016. Prepared By Fiscal Agents Financial Information Services 905.844.7700

26 YPNEXTHOME.CA

Trending

5 hottest places to buy for less than $500K

By Wayne Karl STARTING FEB. 15, 2016, there will be additional 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 While the average home price is $454,976 in Canada, it’s $630,876 in Toronto and $947,334 in Vancouver, according to the Canadian Real Estate Association.

Here’s our list of the five hottest markets in Canada, based on price growth, where you can still buy a home for less than $500,000:

-1-

-2-

-3-

-4-

-5-

London

Oshawa

Whitby

Kingston

Hamilton

Q3 2015

Q3 2015

Q3 2015

Q3 2015

Q3 2015

$293,344

$364,366

$473,400

$342,481

$395,404

Q3 2014

Q3 2014

Q3 2014

Q3 2014

Q3 2014

$263,668

$332,151

$431,954

$313,847

$364,639

Year-over-year % change

Year-over-year % change

Year-over-year % change

Year-over-year % change

Year-over-year % change

11.3

9.7

9.6

9.1

8.4

And five more that are also worth a look: Windsor, Ont.

Niagara/St. Catherines, Ont.

Kitchener-Waterloo Cambridge, Ont.

Victoria, BC

Kelowna, BC

Q3 2015: $211,973 Q3 2014: $196,021 Year-over-year % change: 8.1

Q3 2015: $289,277 Q3 2014: $268,420 Year-over-year % change: 7.8

Q3 2015: $346,333 Q3 2014: $326,938 Year-over-year % change: 5.9

Q3 2015: $478,570 Q3 2014: $456,344 Year-over-year % change: 4.9

Q3 2015: $468,310 Q3 2014: $447,305 Year-over-year % change: 4.7 SOURCE: ROYAL LEPAGE HOUSE PRICE SURVEY

JAN 23 - FEB 6, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 27

How to do-it-yourself and save money in your new home!

By Jane Lockhart HAVING JUST PURCHASED a new home or condo, money may not be plentiful or at the very least, it may be tied up in your property. Having a new space to decorate on a budget may seem frightening, but knowing where to invest and when to fake it will help you get the maximum reach for your dollar.

Room designed by Jane Lockhart | Principal Designer, Jane Lockhart Interior Design | janelockhart.com

28 YPNEXTHOME.CA

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

Inspiration | DESIGN SECRETS

The best way to create a custom rug at an economical price is to have it made from broadloom or a typical roll of carpet. If you select an end of roll or something that has been discontinued, you will see an even greater return on investment. Just measure the size you need and then go and see what matches at a local carpet retailer. Once you have selected a style, the store will bind the edges to create an area rug!

Window treatments When our clients purchase a new home from a previous homeowner, we sometimes suggest including the window treatments in the deal, leaving them one less thing to worry about until they get settled. Unfortunately, this is not something that can be done with a newly built home.

There are a couple of options here to get immediate privacy without spending a fortune and waiting weeks, if not months, for custom window treatments to be ordered and installed.

Temporary shades For immediate privacy in your new home, you can get temporary shades from stores like Lowes or Home Depot.

These come in 27-in. widths and have adhesive along the top. They are accordion in style and are simply affixed to the top inside of the window frame. The bottom is literally trimmed with scissors to the ideal length. You can use several of them in a row for a long window, and as they are made of paper, they can be cut to size width-wise as well. Once installed properly, they look like fabric to the untrained eye and give great privacy until you are prepared for a more permanent option. These come in an assortment of colours and the price range is approximately $7 to $45 per shade, depending on the style and colour.

Panels and tab drapery

Flooring It is always nice to have an area rug or carpet to add warmth to a room. This is particularly true over hardwood and tile. Large carpets can be very expensive, especially if ordered in large or custom sizes. Area rugs can be purchased in pre-made sizes such as five-by-seven-ft., six-by-nine-ft., eight-by-10-ft. and nine-by-11-ft. These sizes are fairly universal, but over the years, as homes have become more unique in size and shape, area carpets have needed wider size ranges to them.

Panel drapery is nice to have hung on either side of the window, and is a great option to pull across for added darkness. Again, if custom, these can be costly and take time. For a less custom look, but to provide some softness around the windows, purchase pre-made panels from Ikea, Urban Barn and Pottery Barn. These will suffice until you are ready to tackle custom-made drapes. One word of advice when hanging drapes: attach the rod to the wall above on the outside of the frame on either side. By attaching drapery hardware above the window, it makes the ceiling feel higher and creates a strong vertical feel.

In the long run, we all want the best for our homes.

Sometimes, that can take time when you are starting out, but smart decorating tricks can go a long way with a small budget.

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 23 - FEB 6, 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

TRAILSEDGE BY RICHCRAFT

PRINCE OF WALES ON THE RIDEAU By: Campanale Homes City: Ottawa South Housing type: Executive single-family homes.

Contact: 613.440.3750 campanale.com

ARTHAUS CONDOMINUMS

CLARENCE CROSSING

By: DevMcGill City: Ottawa - Downtown Housing type: Condominium.

Contact: 613.909.3223.

ArtHausCondos.com

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

LIV TOWNS THE CORNERS ON MAIN

RICHARDSON RIDGE KANATA 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

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

30 YPNEXTHOME.CA

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

TEMPO GREYSTONE VILLAGE 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

LONGFIELDS STATION BY CAMPANALE HOMES

BRIDLEWOOD

UPPERWEST

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

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

CHAPARAL • GALLERY TOWNHOMES

SOHO CHAMPAGNE

WHITE TAIL RIDGE

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

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

Contact: Kellie Connors 613.461.0277 phoenixhomes.ca

By: Tamarack Homes City: Orleans Housing type: Townhomes. tamarackhomes.com

SOHO LISGAR By: Phoenix Homes City: Barrhaven Housing type: Townhomes.

Contact: phoenixhomes.ca

WESTBORO

THE BOWERY CONDOS & LOFTS

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

Contact: 613.296.7000 metrichomes.com

By: Richcraft City: Centretown Contact: 613.695.7577 thebowerycondos.ca

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

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

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

FELTON COURT

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

Contact: 613.798.7646 soholisgar.com

MINTO BEECHWOOD

THE ORCHARD

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

Contact: 613.435.7751 uniformdevelopments.com

BRADLEY ESTATES

RUSSELL TRAILS By: Tartan Homes/Corvinelli Homes City: Russell Housing type: Singles, semis, bungalows russelltrails.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

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

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

JAN 23 - FEB 6, 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

Kanata

x

x

Inquire

15

From Mid $100K

19

Stonewater Bay

Inquire

13

Cardel

Blackstone

Inquire

13

Kanata

Cardel

Richardson Ridge

Inquire

13

Kanata

Glenview

Monahan Landing

x

x

From $230's

9

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

Kanata

Valecraft

Trailwest

Inquire

18

Stittsville

Brigil

Loreka Court

x

From Mid $400K

19

Stittsville

Cardel

Deer Run

x

Stittsville

Valecraft

Rathwell Landing

x

Barrhaven

Campanale

Barrhaven

x

x

x x

Inquire

13

x

Inquire

18

Longfields

x

Inquire

15

Cardel

Longfields

x

Inquire

13

Barrhaven

Claridge Homes

West Pointe Village

x

x

Inquire

10, 11

Barrhaven

Mattamy

Traditions II

x

x

$274,990

4, 5

Barrhaven

Minto

Quinn's Pointe

x

Inquire

2, 3

Barrhaven

Tamarack

The Meadows

x

Inquire

BC

Barrhaven

Valecraft

Woodroffe Lofts

x

Inquire

18

Central

Valecraft

Aviation Private

x

Inquire

18

Leitrim

Tamarack

Findlay Creek

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

Ottawa South

Uniform Developments

The Orchard

x

Inquire

6, 7

x

SOUTH

32 YPNEXTHOME.CA

x

x

x

x

x

x

Site Name

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

CENTRAL Central

Claridge

Fusion

x

From 266,000

10, 11

Central

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

East Orleans

Tamarack

Cardinal Creek Village

x

x

x

Inquire

BC

Embrun

Valecraft

Place St. Thomas

x

x

Inquire

18

Orléans

Minto

Avalon Encore

x

Inquire

2, 3

Orléans

Valecraft

Bradley Estate

x

x

x

Inquire

18

Navan

Claridge

Spring Valley Trails

x

x

x

Inquire

10, 11

Russell

Tartan/Corvinelli Homes

Russell Trails

x

Inquire

8

Barrhaven

Campanale

Longfields Station

x

Inquire

C5

Downtown

DevMcGill

Arthaus Condos

x

Inquire

C2

Downtown

Richcraft

Bowery

x

From $179,000

C4

Kanata

Equinelle

Foxwood

x

Inquire

C16

Navan

Domicile

Crème

x

From $275,900

C3

Orléans

Brigil

Petrie's Landing

x

From $190,000

C10, C11

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

EAST

x

x

x

CONDO

JAN 23 - FEB 6, 2016 | NEW HOME & CONDO GUIDE EASTERN ONTARIO 33

Neighbourhood Profile

Westboro

Fast facts

The epitome of posh

Family structure

By Lindsay Foran

Average household income

$117,029

SINGLES

COUPLES

FAMILIES

41%

33%

26%

Own vs. rent

53% OWNERS

47%

RENTERS Most common housing type

Detached Education levels

54%

26%

UNIVERSITY HIGH SCHOOL

MORE PHOTOS ONLINE

20% COLLEGE

ypnexthome.ca/westboro SOURCE: ENVIRONICS

A TRENDY, ACTIVE AREA where most people have dogs, kids and a six figure income, Westboro has it all.

Many residents have to commute to work, but once they come home, they have everything they need right at their doorstep. This area is the epitome of posh. You’ll find fit moms in Lululemon yoga pants pushing the trendiest, most expensive strollers, carrying designer handbags?

Vibe Over the years, Westboro has given itself a much needed facelift.

Richmond Rd. is lined with specialty stores, high end fashion boutiques, restaurants and bakeries. The local coffee shops are filled with runners, cyclists, baby strollers – even at the earliest hours of the morning.

Westboro is not for the lazy. This place

is full of driven, successful people, who strive for the best. And it shows.

but on average, restaurants are pricey because they serve unique tastes.

Meet the neighbours Westboro appeals to all ages, but is most popular with families and retirees. Why? Because it’s safe, it’s trendy, it has everything you need, and it’s still close enough to downtown and the rest of the city. This is an area that is health conscious, active and thriving. Westboro draws in professionals with money to spend.

Planes, trains & automobiles In Westboro, residents can make use of the Transitway, the many bus stops along Richmond Road, the O-Train, and the light rail train (LRT) which will be coming soon. Visitors and residents can also take advantage of the many bike paths, and the Hwy. 417 is only a quick drive down the road.

In the area This is not your thrift, budget-type neighbourhood. Residents will easily spend $5 for a cup of coffee each day at the local Starbucks, Second Cup or Bridgehead. There are local pubs where you can get a plate of fries,

The good, the bad & the rest Westboro is a true community in every sense of the word. From garage sales to Westfest – the area’s most popular 14 block party – this is a place where people work hard, and play harder.

Stroll down the streets and admire the murals, eat at many of the restaurants and shop in the boutiques.

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

What’s Online

Trending now The latest real estate news from across Canada

Top three amazing features of Daniels Waterfront: City of the Arts

Why banks are raising rates and what it means

VIDEO & STORY ONLINE ypnexthome.ca/daniels-waterfront

READ THE STORY ONLINE ypnexthome.ca/raising-rates

Masculine decor ideas: Q & A with Yanic Simard READ THE STORY ONLINE ypnexthome.ca/yanic-simard

5 hottest markets where you can buy under $500K

Want more great articles like this delivered directly to your inbox?

SIGN UP FOR OUR NEWSLETTER

READ THE STORY ONLINE ypnexthome.ca/5-under-5

Twitter @ypnexthome @ypnexthome_EO

ypnexthome.ca/newsletter

Facebook ypnexthome

Visit our website:

Instagram ypnexthome

Pinterest ypnexthome

THE NEW

GALLERY TOWNHOMES

BY TAMARACK FROM $279,900

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.

It's all ours for under $

1200

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

WEREMOVINGIN.CA