GTA New Home Guide - Nov 11, 2017

GREATER GOLDEN HORSESHOE EDITION

NOVEMBER 11 - 25, 2017 | nexthome.ca

Connecting Canadians to new HOMES & CONDOS for more than 25 years NOWING: ER COV ENTIRE THE GOLDEN ER GREAT SESHOE HOR

INSIDE:

Q&A: MORTGAGE EXPERT CALUM ROSS

WARM UP WITH THE COSY HOME GIFT GUIDE

CRESFORD. ALWAYS IN FASHION. Over the last four decades, Cresford has defined the Toronto skyline with iconic landmarks in the city’s most sought-after locations. Cresford’s legendary designs, attention to detail and affinity for high-fashion labels have produced one successful condominium after another. As one of Toronto’s biggest and most trusted developers, Cresford provides superior service, quality assurance, a sense of security and the finest product on the market. Visit our Condominium Gallery at 170 Merton Street or call 416.485.3000 to arrange your private appointment.

COMING SOON

residences on yonge

BROKERS PROTECTED. PRICES AND SPECIFICATIONS ARE SUBJECT TO CHANGE WITHOUT NOTICE. ILLUSTRATIONS ARE ARTIST’S CONCEPT. E. & O.E.

The Residences of 33 Yorkville Lobby to be furnished with Bottega Veneta 416.486.2272 33yorkville.com

Halo Residences 480 Yonge Street Penthouses & 3 Bedrooms Coming Soon Inspired by Baccarat 416.485.3000 haloresidences.com

The Clover 595 Yonge Street Penthouses Coming Soon Under Construction Inspired by Van Cleef & Arpels 416.485.3000 thecloveronyonge.com

Vox | SOLD OUT Yonge & Wellesley Under Construction Furnished with Diesel Living 416.485.3000 voxcondominiums.com

Casa III | MOVE IN DECEMBER Yorkville Penthouses Remaining Under Construction Lobby to be furnished with Hermés 416.486.CASA (2272) casacondominium.com

NEW RELEASE COMING 2017 PHASE I ALMOST SOLD OUT

MADIS N CE N T R A L PARK Welcome to the most sought-after, most innovative and the largest master-planned community Hamilton has ever seen. It’s all here: nature, transportation, shopping and a true sense of community.

Following the tremendous success of Park Avenue and Madison Phase I, we are excited to release Madison Phase II opening late 2017.

BACK-TO-BACKS & 3-STOREY TOWNS from the $400’s 2-STOREY TOWNS from the $500’s

REGISTER NOW MyCentralPark.ca

ok Rd

Pricing and specifications subject to change without notice. Map not to scale .E.&OE.

Trinity Ch urch Rd

Binbro

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Up Mt Al per bion Rd

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1809 Rymal Road East, Stoney Creek

VISIT US TODAY!

407 401

To Oakville

Hurontario St.

NOW OPEN

410

Eglinton Ave. W.

Rendering is artist concept.

N

QEW

Future LRT

403

To Toronto

PRESENTATION CENTRE 5044 Hurontario Street (at Eglinton) Mississauga, Ontario 905.568.9000

NOV 11 - 25, 2017  3

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N E P O W E! U L A V NO ST

E B S ’ O T ORON

FREE PARKING

ETOBICOKE’S NEWEST MASTER-PLANNED COMMUNITY COMPLIMENTARY SHUTTLE TO SUBWAY TOUR THE 2 FULLY FURNISHED MODEL SUITES OUTSTANDING AMENITIES– LANDSCAPED OUTDOOR TERRACE, PARTY ROOM & PEDESTRIAN FRIENDLY WALKWAYS

BURNHAMTHORPE RD.

Fall in love in Valhalla Town Square, a master-planned community of modern luxury condominiums, executive townhomes and fabulous amenities.

Visit our Presentation Centre today.

Modern Luxury Condominiums from the $300’s REGISTER AT

VALHALLAT OWN S QUARE.C OM

Exclusive listing brokerage, MarketVision Real Estate Corporation. Brokers protected.

Prices and specifications are subject to change without notice. Illustration is artist’s concept. E. & .O. E.

GIBBS RD.

THE EAST MALL

The Valhalla La la Love Affair

HWY 427

N SALES CENTRE

BLOOR ST. W.

PRESENTATION CENTRE: 2 GIBBS RD. MONDAY-THURSDAY: 12-6PM FRIDAY: CLOSED SATURDAY, SUNDAY & HOLIDAYS: 12-5PM 416.233.5554

Final Release of Suites at Musée Move In Now – Your Final Opportunity At Our Cosmopolitan New Condominium.

Don’t miss your final opportunity to become a part of the vital new force in urban living at Bathurst & Adelaide. We’ve just released the final suites at Musée. Construction is complete, the building is registered, and all closing costs are included in the purchase price.

Find your place between the energy of King Street West and the vibrant Queen West street scene, also near the attractions of Kensington Market and Chinatown.

VISIT THE PRESENSATION CENTRE NOW 525 Adelaide Street West, Ground Floor • 416.551.9449

LAST CHANCE AT PRECONSTRUCTION PRICING! CONSTRUCTION IS JUST AROUND THE CORNER. So, take advantage of pre-construction pricing while you still can!

Situated in Maple, GO.2 offers large family-friendly suites and townhomes with the highest quality features and finishes.

Plus, its prime location ensures you can get almost anywhere, anytime, in nearly no time.

PLUS ENJOY: • • • •

FREE Parking and locker $2500 capped levies Flexible deposit structure Prices from the mid $300s

ACT NOW TO TAKE ADVANTAGE OF THIS INCREDIBLE OPPORTUNITY!

MCNAUGHTON RD

MAJOR MACKENZIE DR W

DUFFERIN ST

EAGLE ROCK WAY

MCNAUGHTON RD E

PEMBERTONGROUP.COM

KEELE ST

PRESENTATION CENTRE 1860 MAJOR MACKENZIE DR., UNIT 7 & 8 | 905.553.1430

Exclusive Listing Brokerage, Royal LePage - Your Community Realty. Brokers Protected. Illustration is artist concept E.&O.E.

a meeting place, a living space. be part of it. steps from Dundas Square. minutes from Ryerson University. moments until your next experience.

Condos coming soon to Church + Dundas

register at pembertongroup.com

NOV 11 – NOV 25, 2017 | VOLUME 25 ISSUE 21

CONTENTS

20 ON THE COVER:

Menkes

PREVIEWING NEW COLLECTION OF PENTHOUSE SUITES AT HARBOUR PLAZA

10 NextHome.ca

E TUR FEA ORY ST

34

THE GREAT CANADIAN REAL ESTATE SURVEY: WHAT PEOPLE WANT IN A CONDO

54 Stat Chat

40 Concert Public art installation by Cecil Balmond at 88 Scott

52 Trinity Ravine Towers

64 Serving up style, with Sarah Richardson

PROPERTY PROFILES

22 Pemberton Group Connect your body, mind and spirit at Social at Church + Dundas

28 Mattamy Homes &

Biddington Homes

Discover waterfront living at Vita Two on the Lake

44 Madison Group Urban living by the lake at Frenchman’s Bay

56 Dunpar Homes Streetsville Centre: Making luxury living even more affordable

60 Geranium Aspire to luxury living in a spacious new home at Allegro

TRENDING

16 BILD September condo sales on pace with 10-year average

33 News New condo sales slow in Q3; Sidewalk Toronto

Breaking ground at 55-plus adult lifestyle condominium

72 Car Insurance Your postal code can determine what you pay

80 News Kipling Station; Mortgage Professionals Canada

84 Television City Condos in downtown Hamilton now on sale

92 Housing Market Top five Canadian markets to watch in 2018

ADVICE

24 BILD Report Going one step further for accessible housing

BY BRYAN TUCKEY

26 Tarion Report Survey says... Homebuyers provide valuable feedback

BY HOWARD BOGACH

46 Insider Insight Cooler markets don’t always mean lower prices

BY DEBBIE COSIC

48 Fundamentally Speaking

Another quarter, another warning from CMHC

Homeownership still a goal for Millennials

BY BEN MYERS

58 Mortgage Intel Will new mortgage rules affect you?

BY ALYSSA FURTADO

74 Legally Speaking Title insurance: What is it and why do you need it?

BY JAYSON SCHWARZ

88 Condo Pro Buying a condo, one exciting step at a time

BY BARBARA LAWLOR

INSPIRATION

64 Design Secrets Sarah Richardson serves up style with Monogram

66 Shop Talk Modernist decor at Souvenir

68 Gift Guide Cosy gifts to make any home a haven

IN EVERY ISSUE

12 Editor’s Note 76 Hot Properties GTA 94 Hot Properties SWO 102 Advertiser Index 103 What’s Online

BY WAYNE KARL

NEIGHBOURHOOD PROFILES:

32 Nautical City

90 Waterloo NOV 11 - 25, 2017 11

EDITOR’S NOTE

DON’T SWEAT THE STRESS TEST

WAYNE KARL MANAGING EDITOR NextHome

If you’re in the market for a new home, you quite likely have heard about the upcoming “stress test” – as if buying a home isn’t already stressful enough. Effective Jan. 1, 2018, consumers who get uninsured mortgages – those with a down payment of 20 per cent or more – will have to qualify at a new minimum qualifying rate, which is the greater of the Bank of Canada’s five-year benchmark rate (4.89 per cent) or 200 basis points higher than their actual rate.

Essentially, this new rule, “tests” buyers to make sure they can still afford their mortgage, should rates rise.

But wait a second. After back-to-back hikes in July and September, the BoC held rates in October, which means rates are stabilizing in the near term. So why this test, and why now?

Lower GDP growth may alleviate some of the pressure of another rate hike, but most experts predict rates to rise over the next two years. Canada Mortgage and Housing Corp., for one, foresees a five-year mortgage rate between 4.9 and 5.7 per cent in 2018, and between 5.2 and 6.2 per cent in 2019.

While this test may limit your buying buyer to some degree, it’s also intended to prevent you from buying more home than you can afford.

And there’s no stress in that.

EMAIL: wayne.karl@nexthome.ca TWITTER: @WayneKarl

Sarah Richardson 64

GET ED! IR NSP

I

Cosy home gift guide! 68

+ get social 12 NextHome.ca

Interact with us on social media: nexthome

H T N O M S I H T OPENING

E C N A H C LTOARESGISTTER FOR VIP ACCESS ITES

SU tion • SMART a c o L rt a m S 300s Smart Value • $ ID M e th m o fr ned Smartly Desig

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Coming Fall 2017 to Stoney Creek

A NEW VISION ARISES FROM THE MYST OF LAKE ONTARIO This is life MY way. Smartly designed Terrace, Garden and Village Towns, just steps to the shores of Lake Ontario in Stoney Creek. Located at Lakeview Drive and Fruitland Road, close to all of the things that make MY life easy.

Myst. Urban Towns By The Lake.

Easy access to the Stoney Creek Confederation Station (at Centennial Parkway) slated for completion 2019.

Prices and specifications subject to change without notice. Go Transit is a registered trademark of Metrolinx and is not affiliated with Homes by DeSantis or Myst. E.&O.E.

REGISTER NOW

CONTRIBUTORS

BILD REPORT | BRYAN TUCKEY

Bryan Tuckey is President and CEO of the Building Industry and Land Development Association (BILD) and can be found on Twitter (twitter.com/bildgta), Facebook (facebook.com/bildgta), Youtube (youtube.com/bildgta) and BILD’s official online blog (bildblogs.ca)

VICE-PRESIDENT & CHIEF PUBLISHING OFFICER

Caroline Andrews PUBLISHER & GENERAL MANAGER

Shawn Woodford ASSOCIATE PUBLISHER

Anne-Marie Breen DIRECTOR OF CONTENT & EDITOR-IN-CHIEF

Jennifer Reynolds

LEGALLY SPEAKING | JAYSON SCHWARZ Jayson Schwarz LL.M. is a Toronto real estate lawyer and partner in the law firm Schwarz Law LLP. He can be reached by visiting schwarzlaw.ca or by email at info@schwarzlaw.ca or phone at 416.486.2040.

MANAGING EDITOR

Wayne Karl ART DIRECTOR

Daiana Garay CONTRIBUTING EDITORS

STAT CHAT | BEN MYERS Ben Myers is senior vice-president of market research and analytics at Fortress Real Developments. Follow his blog posts and commentary on the Canadian housing market at fortressrealdevelopments.com/news or follow him on Twitter at @BenMyers29.

Sonia Bell Marlene Eisner Elisa Krovblit Keay SENIOR ACCOUNT EXECUTIVE

Nina Downs nina.downs@nexthome.ca MEDIA CONSULTANT

Maris Langer maris.langer@nexthome.ca MEDIA CONSULTANT

TARION REPORT | HOWARD BOGACH Howard Bogach is president and CEO of Tarion Warranty Corp. For more information about how Tarion helps new-home buyers, visit tarion.com

Rose Anne Bonanno roseanne.bonanno@nexthome.ca SALES & MARKETING CO-ORDINATOR

Terry Bassett SENIOR MANAGER, DISTRIBUTION

Dwayne Rutherford NATIONAL CIRCULATION MANAGER

John Jenkins

MORTGAGE INTEL | ALYSSA FURTADO Alyssa Furtado is the Founder and CEO of ratehub.ca, a mortgage rate comparison site that aims to empower Canadians to make smart financial decisions.

PRODUCTION MANAGER

Anthony Majetic PRODUCTION CO-ORDINATOR

Sandra Hanak-Vujnovic GRAPHIC DESIGNERS

Sandra Hanak-Vujnovic, Mike Terentiev, Miguel Cea

INSPIRATION | SARA DUCK Sara Duck is a self-proclaimed magazine junkie and trend hunter. Sara brings her love of all things design and decor to you with an expert eye for what’s on trend.

Published by

A brand of Yellow Pages Homes Ltd. #500-401 The West Mall Etobicoke, ON M9C 5J5 T 416.626.4200 F 416.784.5867 nexthome.ca

CONDO PRO | BARBARA LAWLOR Barbara Lawlor is president and CEO of Baker Real Estate Inc., and an in-demand columnist and speaker. A member of the Baker team since 1993, Barbara oversees the marketing and sale of condo developments in Canada and overseas.

INSIDER INSIGHT | DEBBIE COSIC Debbie Cosic is CEO and founder of In2ition Realty. She has overseen the sale of more than $15 billion worth of real estate. With Debbie at its helm, In2ition has become one of the fastest-growing and most innovative new home and condo sales companies. in2ition.ca

14 NextHome.ca

Advertising Call 416.626.4200 for advertising rates and information.

Circulation Highly targeted, free distribution system aimed at real estate buyers using street level boxes and racking, plus door-to-door insertions in key audience segments.

Call 1.855.826.4200 to discuss distribution opportunities.

Copyright 2017 All rights reserved by Yellow Pages Homes Ltd. Reproduction in any form is prohibited. Contents of this publication are covered by Copyright and offenders will be prosecuted under the law. The views and data expressed by columnists do not necessarily represent those of the publication.

Terms Advertisers, Editorial content 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. Please submit to the editor at wayne.karl@nexthome.ca

THE PENTHOUSE COLLECTION

EXPERIENCE THE NOBU LIFESTYLE AT T H E H I G H E S T L E V E L I N T O R O N T O ’ S E N T E R TA I N M E N T DIS T R I C T C OM I N G S O O N NOBURESIDENCES.CA

MADISON GROUP

IN PARTNERSHIP WITH Marketed by International Home Marketing Group. Brokers protected.

Renderings are artist’s concept only. E & O.E.

TRENDING

SEPTEMBER GTA NEW CONDO SALES ON PACE WITH 10-YEAR AVERAGE The market for new construction homes in the GTA picked up in September, primarily driven by sales of multi-family homes, condo apartments in highrise and midrise buildings and stacked townhomes, according to the Building Industry and Land Development Association (BILD).

There were 2,101 new homes sold in September, according to Altus Group, BILD’s official source for new-home market intelligence.

About 83 per cent of them (1,749 units) were multi-family homes, and only 17 per cent (352) were lowrise single-family homes such as detached and semi-detached houses and townhomes. Condo sales for September were on pace with the 10-year average of 1,810, while lowrise sales were far below the comparable 10-year average of 1,173.

As of the end of September, 33,871 new homes had been sold in the GTA in 2017, 80 per cent of them condo apartments in highrise

and midrise buildings and stacked townhomes.

“The GTA new home market is being driven by the multi-family homes,” says BILD President and CEO Bryan Tuckey. “Year-to-date, there have only been 6,718 new single-family lowrise homes sold, which is a level that we have not seen in more than a decade. This is largely due to government intensification policy and the challenges lowrise builders face in bringing product to market.”

While supply of new housing increased again in September and was back above 10,000 units, it is still well below what is considered a healthy level. Supply of new housing is typically measured by the number of new homes available for purchase in builders’ inventories at the end of the month. At the end of September, there were 9,389 multi-family homes and 2,607 single-family homes available in the GTA. “The recent increase in single-

family inventory was the result of more new project launches as well as additional product released at existing sites, both of which are typically up in September,” says Patricia Arsenault, Altus Group’s executive vice-president of Research Consulting Services.

Prices of available homes in September were down for singlefamily lowrise homes and up for multi-family homes. The average for available new single-family homes was $1.20 million, down from $1.29 million in August, but still 21 per cent above last year’s average price of $992,391. The average price for available new detached homes was $1.60 million and the average for available townhomes was $1.01 million.

Meanwhile the average price of available condos in high- and midrise buildings and stacked townhomes was $661,188 in September, up from August’s $644,327, and 36 per cent more than a year ago.

SEPTEMBER NEW-HOME SALES BY MUNICIPALITY: Sept ‘17 REGION

Highrise 2017

2016

Lowrise 2015

Total

2017

2016

2015

2017

2016

2015

Durham

13

77

18

84

307

158

97

384

176

Halton

321

159

123

134

86

91

455

245

214

Peel

404

355

56

70

216

414

474

571

460

Toronto

954

2028

868

7

43

31

961

2071

899

York

57

163

181

57

643

463

114

806

644

GTA

1749

2782

1246

352

1295

1157

2101

4077

2403

SOURCE: ALTUS GROUP

16 NextHome.ca

GO.2 / Maple

We call it Pemberton.

Mills Square / Mississauga

Social / Toronto

GO.2 Condominiums / Maple

Illustrations are artist’s concept. E. & O. E.

Current Communities

Coming Soon

Everything a home should be.

The Pemberton difference. It begins with building in the GTA’s most coveted locations.

From there, we bring together design creativity, superb craftsmanship, quality features and outstanding amenities. It’s through this process we develop communities that go beyond the standard. Reinventing the way you live, one community at a time.

That’s the Pemberton difference.

Learn more at pembertongroup.com

You call it your corner office.

You call it entertaining in style.

We call it Pemberton.

Everything a home should be.

The Pemberton difference. It begins with building in the GTA’s most coveted locations.

From there, we bring together design creativity, superb craftsmanship, quality features and outstanding amenities. It’s through this process we develop communities that go beyond the standard. Reinventing the way you live, one community at a time.

That’s the Pemberton difference.

Learn more at pembertongroup.com Illustration is artist’s concept E. & O. E.

GTA

IN THIS SECTION

SHOWCASING NEW PROJECTS IN THE GTA

GREATER TORONTO AREA

EXPLORING NAUTICAL VILLAGE

MAPS & LISTINGS OF NEW COMMUNITIES

NOV 11 - 25, 2017  17

NOW PREVIEWING O N LY 5 5 TOW N H OM ES AVA I L A B L E

T H E Q U E E N S WAY, R E GA L LY R E D E F I N E D. Contemporary design and luxury comes to The Queensway in this signature collection of Modern Towns.

Styled exclusively by celebrity designer Mike Niven, each aristocratic home includes a kingly rooftop terrace and access to a beautifully landscaped courtyard that creates a private oasis for residents to enjoy.

Royal Q is located in the heart of The Queensway Village and close to everything you love about the city.

FROM THE HIGH $900s REGISTER NOW TO BOOK AN APPOINTMENT O R C A L L 6 4 7. 3 4 9 . 0 9 6 9

ROYA LQTOW N S .C OM Prices and specifications are subject to change without notice. Rendering is artist’s concept. E.&O.E.

NOV 11 - 25, 2017  19

COVER STORY

NEW COLLECTION OF PENTHOUSE SUITES NOW PREVIEWING AT

HARBOUR PLAZA The excitement and curiosity about the new residential landmark by award-winning builder Menkes Developments is growing as construction at Harbour Plaza nears completion.

With the final phase of occupancies expected this winter, the ultra-luxurious penthouse suites are buyers’ last chance to join the developer’s incredibly successful waterfront project – but just a few select suites remain. Located in the South Core, the city’s most popular new neighbourhood in which to live, work and play, Harbour Plaza stands proud with two stunning 66- and 70-storey glass towers.

20 NextHome.ca NextHome.ca | GTA

PRIME LOCATION WITH A WEALTH OF AMENITIES

“Harbour Plaza has been a winning project from the first day of sales,” says Mimi Ng, vice-president of sales and marketing at Menkes.

“Buyers are drawn to this project for so many reasons. Here, you get an amazing location just steps from the waterfront. But at the same time with the direct connection to the PATH system, you can walk to work indoors anywhere in the Financial District, plus you can access TTC subway and regional train service from Union Station.”

Buyers at Harbour Plaza will enjoy all amenities and

conveniences of living in Toronto’s vibrant downtown community.

With direct access to the downtown PATH system, residents will have indoor, weatherprotected access to the largest underground shopping complex in the world – covering 30 km and approximately 1,200 shops and services – and connections to more than 50 buildings and office towers in the Financial District.

Located in Toronto’s South Core district, Harbour Plaza is part of an exciting new mixed-use neighbourhood that combines leading-edge office development, architecturally-stunning residential skyscrapers and world-class

restaurants and entertainment venues such as the Air Canada Centre, Ripley’s Aquarium, the Rogers Centre and the Metro Convention Centre.

LUXURY PENTHOUSE SUITES NOW PREVIEWING

Menkes is now previewing an exclusive collection of Penthouse Suites on the top two floors of Harbour Plaza, starting from $2.1 million. With gorgeous unobstructed views of Lake Ontario and the city skyline, luxurious features and finishes and spacious layouts, these residences promise to be the most desirable address in Toronto.

Working closely with awardwinning interior designer Cecconi Simone, the Penthouse Suites at Habour Plaza were thoughtfully designed, with generous and functional living spaces. Buyers will find layouts that give them the flexibility to entertain guests and

host social gatherings, or to simply retreat and enjoy the tranquility of their home. The penthouse residences range in size from 905 sq.-ft. one-bedroom plans, up to 1,907 sq. ft. three-bedroom plus library layouts.

The Penthouse Suites at Harbour Plaza will incorporate the finest features and finishes, including soaring 10-ft. smooth finish ceilings, engineered hardwood flooring and gas fireplaces.

Gourmet kitchens feature customdesigned cabinetry, soft-close drawers, a separate pantry and premium built-in appliances by Miele. Spa-inspired bathrooms feature custom-designed vanities with full-width mirrors, a choice of porcelain or stone tile flooring, luxurious soaker tubs and semiprivate water closets.

The amenities at Harbour Plaza make it difficult to ever want to leave home. Residents will be able to enjoy a state-of-the-art fitness

centre, a relaxing indoor pool, a fireplace lounge, games room, and party room. An expansive outdoor landscaped terrace with a reflecting pool will offer lounge seating, BBQs and dining areas.

Menkes is one of the most wellknown and trusted home builders in Toronto, with more than 60 years of history and more than 25,000 units built. The company has been recognized as one of the top builders in Ontario for quality and customer service, and is also the builder of the super-luxury Four Seasons Hotel and Residences in Toronto’s Bloor-Yorkville district.

For more information about Harbour Plaza Residences, visit the Menkes Condo Centre at 770 Bay St. Monday to Thursday noon to 6 p.m.; Saturday and Sunday noon to 5 p.m.; closed Friday; or contact the Menkes Condo Centre at 416.591.7700, menkes.com or harbourplaza@menkes.com

+ LOCATION Toronto DEVELOPER Menkes Developments DEVELOPMENT Harbour Plaza HOME TYPE Penthouse condominiums SALES CENTRE 770 Bay St., open Monday to Thursday noon to 6 p.m., Saturday and Sunday noon to 5 p.m., closed Friday CONTACT 416.591.7700 harbourplaza@menkes.com menkes.com

NOV 11 - 25, 2017 21

PROPERTY PROFILE

Social’s private dining room can open to the party room for large events.

SOCIAL AT CHURCH + DUNDAS

BY PEMBERTON GROUP BE PART OF IT – CONNECT YOUR BODY, MIND AND SPIRIT Choosing the experiences that shape the way you live and making those connections by being linked to everything you need and want creates a fulfilling lifestyle. You’ll find a kindred partnership between amenities and convenience at Social at Church + Dundas by Pemberton Group, the company’s newest condominium coming soon to downtown Toronto.

At Social, your home is your hub. From here you can link to your friends and surroundings, enjoy your present and create your future.

Church and Dundas boasts a 22 NextHome.ca NextHome.ca | GTA

100/100 transit and bike scores, along with a near-perfect walk score. Social residents will live steps from Yonge-Dundas Square, Ryerson University, Eaton Centre and the multitude of shopping, restaurants and cafes and entertainment venues in the surrounding area.

Social will embody exceptional design inside and out, as well as an at-home environment with top quality features and finishes.

There will be two storeys of onsite amenities, including health and wellness facilities on the fifth floor, and the entertainment and

mingling options found in The Social Club on the 52nd floor.

The health and wellness facilities are surrounded by a landscaped terrace with a lounge. There’s a large, well-equipped fitness centre with cardio equipment, strength machines and free weights, plus men’s and women’s change rooms, each with washrooms, showers, a steam room, sauna and locker room, as well as a yogaPilates studio.

The Social Club is home to a spacious lounge with private dining, and a TV-reading room with cosy seating. In the private

Party with friends in The Social Club on the 52nd floor.

Connect in the Wi-Fi study rooms with docking stations.

dining room, you can host an intimate event or open it up for larger parties and take advantage of the bar and catering kitchen.

There’s a billiards-ping pong room with a TV and bar, and an outdoor lounge that has dining space and barbecues.

There are two Wi-Fi study rooms, each with desks and docking stations where students can work, and professionals hold meetings. There is also a multimedia room perfect for a movie or awards program celebration, as it features a widescreen TV. At Social, you can connect to exactly how you want to live. Be part of it! See a sales representative for full details. Specifications are correct at press time.

To be among the first to receive information as soon as it becomes available, register now for Social at Church + Dundas at pembetongroup.com. You can also subscribe online to learn more about all of Pemberton’s many fine condominium communities and those coming soon. Follow the company on Facebook, Twitter, Instagram and YouTube.

+ LOCATION Downtown Toronto DEVELOPER Pemberton Group DEVELOPMENT Social at Church + Dundas HOME TYPE Highrise condominiums CONTACT pembertongroup.com Work out in the well-equipped fitness centre.

NOV 11 - 25, 2017 23

ADVICE | BILD REPORT

GOING ONE STEP FURTHER FOR

ACCESSIBLE HOUSING BRYAN TUCKEY

GTA builders and developers are meeting the needs of the 15 per cent of Ontarians who live with disabilities by making great efforts to design and build accessible homes.

All builders meet the high standards of accessibility set out in the Ontario Building Code, which requires that 15 per cent of units in multi-unit residential buildings come with accessibility features. This means providing an obstacle-free path of travel into a bedroom, full bathroom, kitchen and living room. Common areas also have to be barrier-free, according to the Building Code, with power-operated doors, curb ramps and wider doors and hallways to accommodate wheel-chairs and walkers.

Some builders, such as BILD member The Daniels Corp., don’t just meet the accessibility requirements set by the Building Code, they exceed them.

The company has created the innovative Accessibility Designed Program (ADP), which will be introduced in two of its upcoming projects, DuEast Condominiums and Wesley Tower. The intent of the program is to address the needs of people who find it difficult getting around in traditional layouts, and to go beyond the Code in removing physical barriers, says Daniels’ Jake Cohen.

Daniels worked with 24 NextHome.ca NextHome.ca | GTA

Quadrangle Architects, a BILD member with expertise in universal accessible design, to evaluate the accessibility of the designs within the builder’s buildings and within suites.

As part of the Program, Daniels will offer specially designed one- to three-bedroom suites with extra accessible features for people with mobility challenges, at no additional cost. The suites will exceed Building Code requirements with poweroperated entry doors and lowthreshold roll-out balconies with swing doors. Bathrooms will have extra features like roll-in showers, and extra clearances beside the toilet and shower.

Daniels’ 29-storey DuEast Condominiums, part of the revitalization of Regent Park in Toronto, will offer ADP suites on the lower floors and on the ground floor. The 43-storey Wesley Tower, part of Daniels’ 23-acre masterplanned community near Square One Mall in Mississauga, will have

ADP suites available throughout the lower floors.

DuEast and Wesley Tower are just the beginning for the Accessibility Designed Program.

Going forward, the program will be offered in all Daniels Corp.’s condo communities.

This is just one example of what builders and land developers in the GTA are doing to bring innovative design to barrier-free homes as the industry works to build complete communities for everyone.

Bryan Tuckey is President and CEO of the Building Industry and Land Development Association (BILD) and is a land-use planner who has worked for municipal, regional and provincial governments. He can be found on Twitter (twitter.com/bildgta), Facebook (facebook.com/bildgta) and BILD’s official online blog (bildblogs.ca).

+MORE ADVICE ONLINE nexthome.ca/news/advice

NOV 11 - 25, 2017  25

ADVICE | TARION REPORT

SURVEY SAYS… YOUR FEEDBACK HELPS IMPROVE CUSTOMER SERVICE FOR NEW-HOME BUYERS ACROSS ONTARIO

HOWARD BOGACH

A new home is one of the biggest purchase decisions most of us will make in our lifetime. For that reason, it only makes sense to try to benefit from the experience of those who have already been through the process.

In today’s networked world, you call that “crowd-sourcing” advice.

Whether these insights are coming from people you know or even those you don’t, it allows you to make more informed decisions.

At Tarion, we accomplish the same thing through our annual Customer Service Surveys.

Every year, Tarion conducts a survey of new-home owners across the province to find out about their buying and homeownership experience. The survey questions cover things such as the Agreement of Purchase and Sale, their builder’s level of customer service before and after moving into their home, their understanding of their warranty and their satisfaction with Tarion.

This year, we have sent out more than 50,000 surveys to consumers who moved into a new home or condo between Oct. 1, 2016 and Sept. 30, 2017.

No matter what type of product or service you’re buying, you want to do business with someone you can trust. Never is that more important than when you’re buying a new home.

26 NextHome.ca NextHome.ca | GTA

“

No matter what type of product or service you’re buying, you want to do business with someone you can trust

”

You want to know which builders are “tops” in quality construction or provide the best customer service.

Our survey asks homeowners if there were any issues with their home or condo and how the builder addressed them.

How about how well they keep you informed throughout the process? We also ask questions about how well they explained things like the Homeowner Information Package and the home warranty coverage.

These survey results help determine the recipients of Tarion’s Homeowners’ Choice

Awards. Both finalists and recipients of these awards have this recognition added to their record in the Ontario Builder Directory (on tarion.com) for everyone to see. This can help future new-home or condo buyers when they are doing their research to find a builder.

Once you become a new-home owner, Tarion’s job is to help answer your questions and guide you through the ins and outs of your new home warranty coverage and how to make claims. Feedback from our annual surveys help us gauge our own customer service levels as well as how well we’re doing in communicating with and educating homeowners.

Surveys can take time to complete, but rest assured, your feedback can lead to tangible improvements in how both Tarion and builders fulfill homebuyer and homeowner expectations.

If you have taken possession of a new home in the past year, you may have already received the Tarion survey. I hope you’ll take a little time to complete it because your responses will help improve customer service for new-home owners across Ontario.

Howard Bogach is president and CEO of Tarion Warranty Corp. For more information, visit tarion.com or find them on Facebook at facebook.com/ TarionWarrantyCorp.

+MORE ADVICE ONLINE nexthome.ca/news/advice

coming soon |

F R O M T H E H I G H 3 0 0 ’s

TO R O N TO ’ S M O S T E XOT I C NEW ADDRESS AT YO N G E - D U N DA S S Q UA R E A sleek 30 storey tower that balances yin and yang, as it rises above the city’s most vibrant neighbourhood.

A place where Ryerson University is just a short 2 minute walk away.

PA N DACO N D O S .CO M Prices & specifications subject to change without notice. E. & O. E. Illustration is artist’s concepts.

Brokers protected. Exclusive broker listing: Baker Real Estate Incorporated.

T R A N S I T S CO R E 1 0 0 WA L K S CO R E 1 0 0 Work, restaurants, shops, transit, and an array of exciting cultural institutions are right at your doorstep. This is where your good fortune is written in black & white.

PROPERTY PROFILE

Mattamy waterfront condos

DISCOVER WATERFRONT LIVING AT

VITA TWO ON THE LAKE Vita Two on The Lake is the final chapter of Mattamy Homes’ and Biddington Homes’ spectacular Etobicoke waterfront story.

Discover an architecturally stunning 16-storey boutique condominium at the Lake and make your choice from a selection of suites boasting water and city views, with large terrace suites still available. Now selling, Vita Two is the second phase of the incredible Vita on The Lake community on Marine Parade Drive.

Enhance your lifestyle with exquisite indoor and outdoor 28 NextHome.ca NextHome.ca | GTA

amenities. These include a stylish light-filled lobby featuring 24-hour concierge, an indoor saltwater pool, full-size fitness room, yoga studio and an indoor-outdoor party room with a barbecue terrace, plus a private dining room and an outdoor terrace lounge.

The story continues inside Vita Two’s well-appointed suites with interior features and finishes that will satisfy today’s most savvy purchasers. Suite layouts maximize space and include ergonomically designed kitchens and spainspired baths. Most suites are also

graced with oversized balconies, and some include a terrace.

Ceiling heights of nine-ft. combine with large windows to create lightfilled interiors taking full advantage of the wonderful views.

Demand is high for this vibrant waterfront location conveniently close to grocery stores, shops, services, public transportation, major highways, schools, restaurants and a hospital. Humber Bay Marina and Martin Goodman Trail are at the doorstep. A few minutes west is the sensational Sherway Gardens and downtown

Toronto is a short trip east.

At Vita Two, choose from oneto three-bedroom plus den suites in sizes from 590 to 2,073 sq. ft. priced from the mid $500,000s to $1 million-plus. Parking and locker is included!

Construction will be starting this fall on Vita on The Lake (sister building to Vita Two) a 53-storey tower that is more than 90 per cent sold. Available suites include a new release of penthouse suites with deluxe features and finishes and unobstructed views. One example is the PH3, a grand 1,746- sq.-ft. three-bedroom plus den suite with three full size bathrooms, plus powder room, Miele appliances in your gourmet kitchen which opens to a spacious dining and living area and an expansive wrap-around balcony.

Vita and Vita Two on The Lake are being developed and built by two prestigious companies with longstanding reputations for excellence. Both are known for providing innovative design, top-quality construction and

exemplary service, and are well versed in waterfront development.

Mattamy is the largest privatelyowned home builder in North America, and has built and closed more than 70,000 homes in hundreds of communities across North America.

Since being founded in the 1960s, The Biddington Group of Companies has developed numerous highrise communities, luxurious single-family homes and has partnered with some of Canada’s most respected developers.

Mattamy and Biddington created Riva Del Lago on the Waterfront condominium community in Etobicoke, and Mattamy completed Waterscapes in the area’s Waterview community.

Choose a suite in either building.

Visit the sales centre today at 2167 Lakeshore Blvd. W., Etobicoke.

Hours are Monday to Thursday noon to 8 p.m.; Friday 1 to 6 p.m.; Saturday and Sunday 11 a.m. to 6 p.m. Call 647.347.5930 or register at mattamyHomes.com

+ LOCATION Etobicoke DEVELOPER Mattamy Homes Biddington Homes DEVELOPMENT Vita Two HOME TYPE Highrise condominiums

SALES CENTRE 2167 Lakeshore Blvd. W., open Monday to Thursday noon to 8 p.m.; Friday 1 to 6 p.m.; Saturday & Sunday 11 a.m. to 6 p.m.

Light-filled contemporary lobby

CONTACT 647.347.5930 mattamyhomes.com 29

Now Releasing

Podium Suites

NEIGHBOURHOOD PROFILE

NAUTICAL VILLAGE A WATERFRONT COMMUNITY IN PICKERING HOT SPOTS

PORT

MEET THE NEIGHBOURS

SONIA BELL

Located on the southern tip of Liverpool Road lies Nautical Village, Pickering’s very own waterfront community. You don’t have to be a boat-enthusiast to enjoy this small, lovable neighbourhood. With its beaches, Waterfront Trail and an array of restaurants, shops and events, it’s safe to say that Nautical Village has it all. The area is highly adored by Pickering residents and has become a hotspot for tourists looking to get away from the chaos of the city.

THE VIBE

The neighbourhood certainly lives up to its name. From the waterfront, to the marine supply shops and easy-going nature of the people, Nautical Village has all the charm one would expect from a small waterfront community.

The area really comes to life in the summer months, and people swarm to the area to take in all its natural beauty, organized recreational activities and free musical entertainment.

32 NextHome.ca NextHome.ca | GTA

The aesthetics, family-friendly amenities and affordability of Nautical Village make it extremely appealing to families. Like Pickering as a whole, Nautical Village is also a very diverse community. Similar to many small towns, everybody seems to know everybody, and the community gathers regularly to participate in neighbourhood events.

PLANES, TRAINS & AUTOMOBILES

The area is very accessible via public transit. The closest GO station is Pickering, which offers an express train to Toronto’s Union Station in 30 minutes. The area is also extremely close to Hwy. 401.

Pickering airport is scheduled to be built by 2027. The airport, which will be located on the northwest corner of Pickering, will be approximately 15 minutes from Nautical Village.

Port is a local restaurant with an enviable view. Open for brunch, lunch and dinner, the menu includes sandwiches, steak and even birthday cake dessert. This, along with a live band, sets the stage for a fun night out.

SERENDIPITY If you’re in need of a sweet treat, Serendipity offers the most delicious custom cakes and desserts. Kick back and relax in the family-owned shop and try their recipes that are truly serendipitous.

DOLLARS & SENSE

During the peak months, Nautical Village is buzzing with people. The fun-loving crowd coupled with fabulous restaurants and activities make for a great night out on the town. Quick tip: arrive early to ensure you snag a parking spot.

HY-TEA For those who enjoy indulging in their afternoon tea ritual, Hy-Tea is a quaint shop along Liverpool that you’ll love. With tasty teas and a friendly staff, Hy-Tea provides the perfect setting for a calming afternoon.

TRENDING

TORONTO NEW CONDO SALES SLOW IN Q3 New condo sales were down 30 per cent from last year at this time, according to Q3 market results recently released by Urbanation Inc. A total of 4,577 new condo apartments were sold across the Greater Toronto Area, a decline that comes after an explosive first half that saw new launches more than double, and sales soar by 67 per cent. Unsold new condo inventory (across all stages of development) increased for the first time since Q4 of 2015, rising to 7,618 units after falling to a 15year low of 6,699 in the previous quarter. Remaining inventory was down 38 per cent year-over-year and was 47 per cent below the 10year average of 16,304 units.

Resale condo apartment prices averaged $648 psf in Q3 2017,

edging down slightly from the previous quarter ($650 psf) for the first time in three-and-a-half years as sales declined 26 per cent year-over-year. However, market conditions remained firm with a sales-to-listings ratio of 60 per cent, keeping resale condo prices 27 per cent higher than a year ago

— a deceleration from the 31 per cent annual growth recorded in Q2 2017.

The recently announced stress test requirements for uninsured mortgage borrowers is likely to cause further declines in resale activity in early 2018, although the condo market is expected to remain relatively resilient due to its affordability advantage.

“After closing out 2017 with a record year, the new condo market is poised for moderation in 2018,” says Urbanation Senior Vice-President, Shaun Hildebrand.

“A more cautious approach for both developers and buyers in the coming months will help to ensure the transition to a more sustainable pace of activity is orderly,”

SIDEWALK TORONTO: BUILDING A NEW CITY ON TORONTO’S EASTERN WATERFRONT The city of the future is at Toronto’s doorstep, at least according to a new partnership between Waterfront Toronto and Sidewalk Labs. The two recently announced a new kind of mixeduse complete community called Sidewalk Toronto to develop Toronto’s Eastern Waterfront.

“Waterfront Toronto has made remarkable strides in revitalizing the waterfront with forwardlooking new neighbourhoods and reconnecting Torontonians to their waterfront,” says Will Fleissig, president and CEO of Waterfront Toronto. “We are expanding our know-how by partnering with Sidewalk Labs to create a progressive, innovative community; one that addresses significant challenges and sets new

standards around sustainability, affordable housing and community engagement.”

In March 2017, Waterfront Toronto issued a Request for Proposals (RFP) looking for an innovation and funding partner for the Eastern Waterfront, beginning with the creation of a new

neighbourhood called Quayside, located at Parliament Slip. Sidewalk Labs, an Alphabet company (which is a parent company of Google) was chosen; the company has committed U.S.$50 million to an initial phase of joint planning and pilot project testing.

Sidewalk Labs and Waterfront Toronto will work with the City of Toronto to bring urban innovations advanced at Quayside to scale in the Port Lands, the primarily publicly-owned area of more than 325 hectares (800 acres). A recent $1.25-billion investment by federal, provincial and municipal governments will enable Waterfront Toronto to provide the flood protection and critical infrastructure necessary to revitalize the area.

NOV 11 - 25, 2017 33

E TUR FEA ORY ST

WHAT RENTERS WANT

+

WHAT REALLY PAYS OFF

by LYDIA MCNUTT

S

upply and demand, economic conditions and population growth will all impact your investment condo’s rental potential. Unfortunately, these factors are not within your control. What you can control, when it comes to the housing market, is whether you buy here and now, or wait.

Purchasing an investment condo at the right time and in the right place, then selling when values hit a high point, is just part of the story. Between the “buy” and the “sell,” there’s money to be made.

While you let time work its magic and watch your property appreciate in value (as it historically has done) you can rent your condo and earn while you wait. It sounds easy enough – if you can give renters what they want.

NextHome conducted The Great Canadian Real Estate Survey to find out what people want in a new condo.

Then we asked some condo experts where these must-haves fall on their scale of investor importance.

34 NextHome.ca NextHome.ca | GTA

Location trumps all else EXPERTS AGREE: Transit-oriented locations lead straight to the bank.

Location, location, location has always been the mantra of great real estate, and now is no different, whether you’re a condo renter, owner or investor. The condo experts agree: this is one “rentable” factor that definitely pays off.

We asked and you answered...

RENTABILITY FACTOR

No. 1 LOCATION

42%

Prefer a downtown location

36% Want proximity to transit

“The golden rule for investors is to select a condo close to public transit,” says condo pro Barbara Lawlor, president and CEO of Baker Real Estate. In addition to freedom from traffic jams, Lawlor says being carfree is a double win in this pricey housing market. “With Toronto housing prices the way they are today, many buyers and renters do not own cars, which helps with home affordability.”

It’s the same story in Vancouver – which happens to be Canada’s priciest housing market. Opting for public transit over vehicle ownership leaves more money in the bank for

a down payment on a home. But money aside, the appeal is very much about the lifestyle.

“We are seeing a trend toward transitoriented communities for accessibility and convenience, such as Cambie Corridor, Burquitlam, Brentwood and Metrotown,” says Cameron McNeill, co-president of MLA Canada, a leader in residential real estate services with the largest in-house analytics and advisory group in Western Canada.

“There has been a shift to one-car families or individuals preferring not to own a vehicle, and these groups want to be within proximity to both transit and car-share programs.”

…continued on page 36

PROFITABILITY FACTOR

Condo investors and experts agree: Location trumps all else when it comes to rentability and resale value alike

Double win!

NOV 11 - 25, 2017 35

We asked and you answered...

RENTABILITY FACTOR

No. 2 SUITE SIZE 38%

Seek a two-bedroom suite

30% Prefer a one-bedroomplus-den plan

20% Want a threebedroom unit

Size matters …continued from page 35

Whomever said size doesn’t matter, was wrong. Yes, small suites are more affordable up-front, but think beyond that initial cost and consider a long-term investment in livability.

PROFITABILITY FACTOR

Investors confirm, the greatest demand – and rental value – is for two-bedroom suites. Why? Room for family, friends and added functionality of the unit 36 NextHome.ca NextHome.ca | GTA

EXPERTS AGREE: Bigger is better – and more easily rentable.

Why? Compact suites are a red flag to renters, who equate their small size with lifestyle compromises.

“Size is important,” says Cole Romaniuk, a condo investor, real estate broker and condo property manager at Calgary-based Karen King & Associates Inc. “I find that two-bedrooms rent significantly faster than one-bedrooms. It’s a critical threshold of livability – that 700-sq.-ft. sweet spot

where a lot of condo investors sit. As soon as you go below that threshold, renters see it as having to make sacrifices on their lifestyle.”

A demographic shift in the renter is increasing demand for larger suites. It’s not just the young and the restless who are looking to rent. Families are opting to rent in Canada’s hottest markets, in direct response to unaffordable housing prices.

Renting is also gaining popularity as a lifestyle choice among the more-mature market segment. “The willingness of downsizers to rent has been an interesting development,” says Shaun Hildebrand, senior vice-president of Toronto condo market research firm Urbanation. “Demographic trends suggest this will be a key area of growth going forward.” …continued on page 38

SALES CENTRE

NOW OPEN!

THURS. 2-8 PM FRI. 11-6PM SAT-SUN. 12-5PM

REGISTER NOW FOR AN APPOINTMENT

TELEVISION CITY MODERN HIGH RISE HOMES FROM THE LOW 200’s

SALES CENTRE LOCATED AT 163 JACKSON ST. WEST, HAMILTON ON

TELEVISIONCITY.CA 905.512.4700

DEVELOPER

EXCLUSIVE BROKER

Exclusive Listing: Brad J. Lamb Realty Inc., Real Estate Brokerage. Brokers Protected.

Renderings are an artist’s impression. All prices, sizes and specifications are subject to change without notice. E.&O.E.

…continued from page 36

We asked and you answered...

RENTABILITY FACTOR

No. 3 AMENITIES

43%

Name parking as the most important amenity 28% Name adjacent retail/ commercial space as important 19% Name a fitness centre as important

PROFITABILITY FACTOR

Condo investment experts agree: Amenities don’t matter – given that parking isn’t technically a condo amenity.

In fact, pools, hot tubs and saunas are underused, costly to maintain, and a significant cash crunch for condo investors.

38 NextHome.ca NextHome.ca | GTA

Amenities?

Thanks... but no thanks EXPERTS AGREE: This one’s a dud.

You might think a condo with a swimming pool or lounge might appeal to renters, but walk into one and, in most cases, you’ll rarely find it in use.

According to our experts, such amenities don’t appeal to investors, either. Building amenities don’t yield much of a return in rental income, according to popular expert opinion – especially a pool.

“In this day and age, it’s not a desired amenity,” says Romaniuk. “New condo builders aren’t including pools, and a lot of the buildings that do have them are aging, which can be a significant cash crunch for investors when it comes to condo fees.

“The average cost to operate a pool year-round is between $30,000 and $50,000. When you think about that on a price-per-unit basis, it’s a lot of money just to maintain a pool that doesn’t get used very well.”

Romaniuk admits he steers investors clean of pools. ”The investor won’t get a return, but it’s something they pay for in their condo fees.”

So now that we’ve established what costs, let’s find out what amenities actually pay off.

According to The Great Canadian Real Estate Survey, the most desirable amenity among end-users, isn’t technically an “amenity.” It’s a parking spot.

Hit the brakes... huh?

“Parking will absolutely increase the rent, especially downtown in a major city,” Romaniuk confirms. “Two parking stalls is an automatic rent booster,” he says, setting your unit apart from your two-bedroom competitors with only single-vehicle parking to offer.

The survey named the second mostpopular amenity as “adjacent retail.”

N OW S E L L I N G .

Things are looking up. Way up.

At Kipling + Dundas, a Central Etobicoke neighbourhood with deep roots is growing up. Improvements are abound; making way for pedestrians, cyclists, new businesses and new neighbours. Adjacent to Kipling Station, The Kip District is in the middle of this revitalization. And with the first phase now sold out, the community is unfolding fast. Discover quick commutes, great amenities and local flavour. Here is where life starts.

Wh e re l i fe sta r ts. t h e k i p d i st r i c t.co m

DU

ND AS

ST

W

Priced from the low $300’s.

B LO

OR

ST W

KIPL ING KIPLING TTC / GO

Sales Centre 5143 Dundas Street W. 416.207.1919 Mon to Thurs noon - 6pm / Sat + Sun 11am - 5pm / Closed Fri Illustration is artist’s impression. Prices, availability, design and specifications subject to change without notice. E.&O.E. November 2017.

TRENDING

CONCERT CELEBRATES BALMOND PUBLIC ART INSTALLATION AT 88 SCOTT Cecil Balmond, of Balmond Studio in London, England, attended the Nov. 1 dedication ceremony of a new art installation, along with David Podmore, chairman and co-founder of Concert, and Jane Perdue, public art coordinator for the City of Toronto.

Spectrum, a three-dimensional work with intersecting planes creating a geometry of polygon shapes at different scales, is suspended from the secondstorey ceiling of 88 Scott’s public atrium, with a secondary twodimensional piece extending under the soffit of the retail podium. This is Balmond’s second public art installation in Canada.

“Spectrum runs in a river of colour with vortex and swirling flow around the high void of the 88 Scott Street lobby,” says Balmond. “But its precise geometry and angled intersecting planes introduces a quantum ambiguity – is it a solid wave or a liquid geometry?”

Balmond has been described as one of the most significant artists of his time. At the intersection between art and science, his work has been exhibited in public spaces and in galleries around the globe.

Balmond has received numerous awards, including the 2016 Thomas Jefferson Foundation Medal in Architecture for his exemplary contributions, and the Office of the Order of the British Empire (OBE) for Services to Architecture.

“We are committed to contributing to the communities where we build, and are honoured to showcase this spectacular artwork by such a renowned artist,” says Podmore.

40 NextHome.ca NextHome.ca | GTA

Kelly Wilson, Concert’s vicepresident, development added, “A truly great team has come together to develop 88 Scott, Concert’s landmark addition to the Toronto skyline.”

88 Scott is a mixed-use development with a 58-storey

contemporary residential condominium tower including a five-storey office and retail podium.

It is located at the corner of Scott and Wellington streets within the downtown core on the edge of the historic St. Lawrence Market neighbourhood of Toronto.

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Actual photo of Frenchman’s Bay boat slips

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REASONS TO LIVE AT FRENCHMAN’S BAY SHORT 37 MINUTE COMMUTE TO TORONTO VIA THE GO TRAIN Walk to the Pickering GO Station for an easy commute to Toronto.

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TOWNHOMES: UPGRADED STAINLESS STEEL APPLIANCES*

Fall in love with the restaurants, cafés and boutiques at Frenchman’s Bay.

Includes an oversized French door refrigerator.

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* Limited time offer, valid between November 1-30th, 2017. Prices subject to change without notice. Renderings are artist’s concept only.

Marketed By International Home Marketing Group. Brokers protected. E & O.E. November 2017.

PROPERTY PROFILE

View of the Bay from Nautical Village

URBAN LIVING

BY THE LAKE AT FRENCHMAN’S BAY, PICKERING BY MADISON GROUP With the GO Train offering a short 37-minute commute from Pickering to Union Station and a four-minute walk to the lake, Frenchman’s Bay is set to attract the Toronto professional looking for affordable lakeside living with all of the area’s conveniences, including quick access to Hwy. 401, great restaurants and shops in Nautical Village along Liverpool Road.

“There are various natural, recreational, heritage, arts and cultural attractions within a one-kilometre range of the site, especially the boardwalk, beaches and marina,” said Project Director David Singer in a recent interview with the Globe and Mail.

Frenchman’s Bay offers a superb range of natural, 44 NextHome.ca NextHome.ca | GTA

recreational, heritage, arts and cultural attractions for residents and visitors. It is the spectacular natural landscape and abounding recreational opportunities that make Frenchman’s Bay a coastal haven for outdoor enthusiasts. You cannot miss Frenchman’s Bay Marina and the significant presence of boaters and sailing activity in the surrounding waters during the summer months. To the southeast is Beachfront Park with its elevated boardwalk and beautiful views across Lake Ontario. If you’re in the mood to exercise or explore, then head into the Waterfront Trail system that encircles Frenchman’s Bay and runs east and west alongside the Lake’s shoreline.

Three major trails – perfect for

cycling, running or walking – traverse protected wetlands and woodlots, bluffs, beaches and expansive conservation areas.

Frenchman’s Bay offers a modern collection of single-detached, twostorey homes of approximately 2,700 sq. ft. with double-car garages, four bedrooms, 3.5 bathrooms and ample room for families to cook, live and relax in style. The spacious interiors feature nine-ft. ceilings on the first floor, smooth ceilings throughout and beautifully appointed kitchens with a choice of quartz or granite countertops, upgraded cabinetry and a spa-like master ensuite with a free-standing tub. Single-detached purchasers will be able to further customize their new home at

Steps away from Nautical Village

the Madison Decor Studio with a generous bonus offer.

The townhome collection ranges from 1,910 to 2,215 sq. ft. and will offer single-car garages at grade, generous three- or four-bedroom floorplans on three levels, plus a basement. The interiors include designer selected natural oak engineered flooring throughout the second floor

and smooth ceilings on both the first and second levels. The carefully appointed kitchens include a wide range of kitchen cabinet choices, and a great selection of granite or quartz countertops. As a special Grand Opening bonus feature, all townhome purchasers can take advantage of a stainless-steel kitchen appliance package

that includes a slide in stove, a dishwasher, an over the range microwave and an impressive French Door refrigerator.

To learn more about Frenchman’s Bay and its rich surrounding amenities, please visit the Presentation Centre located at 1635 Bayly St., Pickering, or register online at madisonfb.com for more information.

+ LOCATION Pickering DEVELOPER Madison Group DEVELOPMENT Frenchman’s Bay HOME TYPE Single-detached twostorey homes and townhomes

SALES CENTRE 1635 Bayly St CONTACT madisonfb.com Townhome kitchen. Artist’s concept only

NOV 11 - 25, 2017 45

ADVICE | INSIDER INSIGHT

COOLER MARKETS DON’T ALWAYS MEAN A FALLING PRICES

DEBBIE COSIC

I love real estate facts and figures – but there are so many of them available in the Canadian market, it can be confusing. Is the market up? Are prices down? Who really knows? Who can you trust? It’s my job to know what’s going on. Every.

Single. Day. It’s also a passion.

By all indications, the fall condo market is definitely showing signs of normalization, and the buying frenzy is subsiding in some segments, such as the new-home market. But the condo market is a very different story, even if some reports indicate otherwise.

So, does that mean prices are falling after so many, many months and years of hearing they finally will? It depends who you ask and how micro your view is.

Here are some interesting figures I collected over the last few months to help you decide.

According to Altus Group, which collects pre-construction sales and pricing data for the Building Industry and Land Development Association (BILD), there was definitely a price decrease in the new condo market in August, but that was due to a slight decline in the average size condo available to purchase that month. So, what does this mean exactly?

Simply put, it means that the average unit size that was available to purchase in August was smaller, averaging 859 sq. ft. When you 46 NextHome.ca NextHome.ca | GTA

“

A better comparison to use when reviewing data such as this is to look at year-over-year prices.

”

compare this to July’s average unit size, which was 871 sq. ft., the decline in both the average unit size and the price of available units was slightly cheaper as a result.

Make sense?

Is this the best way to determine whether prices are dropping? I don’t think so.

A better comparison to use when reviewing data such as this is to look at year-over-year prices.

So, here we go…

Again, using Altus Group data, if you bought a new condo in August of 2017, you would see that the average price of a condominium suite was $644,327. Yes, that is down from July’s average price of $665,041, but in fact, it’s 34 per cent more than that same condo would have cost you a year ago, in August of 2016.

This is great news if you invested in a condo last year, but bad news if you’re waiting for prices to drop because you’re fixated on reading media stories that use only monthover-month comparables.

Keep in mind, this spring and fall, there were many new policies and measures taken by both the federal and provincial government to cool the region’s market, in the Greater Toronto Area in particular.

So, with more normalized market conditions, the buying frenzy may be over, but it is my estimation is that year-over-year price growth will continue to be strong in the new condominium market. This is all based on the simple fundamentals of supply and demand, which I will discuss in the next issue.

Debbie Cosic is CEO and founder of In2ition Realty. She has overseen the sale of more than $15 billion worth of real estate. With Debbie at its helm, In2ition has become one of the fastest-growing and most innovative new home and condo sales companies. in2ition.ca

+MORE ADVICE ONLINE nexthome.ca/news/advice

peter & adelaide made in toronto

Coming soon Condos from the $300s Register now at peterandadelaide.com Exclusive listing brokerage: Baker Real Estate. Brokers Protected.

Prices and specifications are subject to change without notice. Illustration is artist’s concept. E. & O. E.

ADVICE | FUNDAMENTALLY SPEAKING

ANOTHER QUARTER ANOTHER WARNING

WAYNE KARL

Canada Mortgage and Housing Corp. released its latest Housing Market Assessment for the fourth quarter of 2017, and the news isn’t great.

This assessment, comparing market conditions between the July 2017 and October 2017 reports, summarizes that Canada’s housing markets remain “highly vulnerable” with evidence of moderate overvaluation and price acceleration.

Highly vulnerable? That can’t be good.

“We continue to see a high degree of vulnerability in Canada’s housing market, fueled by moderate overvaluation and price acceleration,” says Bob Dugan, chief economist, CMHC. “House price growth continues to outpace economic fundamentals like household income and population growth.”

After a boost in residential construction in 2017, housing starts are projected to decline by 2019, but to remain close to the average level from the last five years, CMHC says.

But it’s important to remember here that, as is its mandate, CMHC focuses on the “national” housing market, when we know that there really is no such thing. Conditions can and do vary greatly from one region to the next, so it’s essential to dig a little deeper with this

news, to understand what’s going on in your centre.

In Ontario, for example, CMHC foresees resale sales and housing starts both trending lower, with modest growth in home prices expected, relative to the recent past.

Slowing price growth is actually good news for prospective homebuyers, as a slight pause to the skyrocketing

“

48 NextHome.ca NextHome.ca | GTA

After a boost in residential construction in 2017, housing starts are projected to decline by 2019, but to remain close to the average level from the last five years, CMHC says.

”

prices in some markets may open a window of buying opportunity for those who may have been sitting on the sidelines.

Rising mortgage carrying costs will exert downward pressure on housing demand and shift demand to multi-unit homes, including condominiums and rental units, CMHC says. Housing demand will hold up better in eastern and southwestern Ontario centres, given higher affordability levels, fewer market imbalances and generally better economic conditions.

Trouble may be brewing in Toronto, Vancouver, Victoria, Saskatoon and even Hamilton, however, as CMHC rates these markets as highly vulnerable.

Even in Calgary and Edmonton, there are growing concerns about overbuilding, where the supply of new and unsold homes outweighs the demand for housing.

In Toronto, despite recent easing in the resale market, CMHC sees continuing moderate evidence of price acceleration, with strong growth in home prices among all housing types. High prices could not be explained by fundamental economic drivers such as income and population growth.

And in nearby Hamilton – the benefactor of homebuyers priced out of Toronto market – that market remained highly vulnerable for the fifth consecutive quarter.

There, too, home prices are growing more quickly than levels supported by economic and demographic fundamentals.

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@nexthome.ca or follow him on Twitter at Twitter.com/ WayneKarl

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N O W

O N

S A L E

SUITES FROM THE

$300000s

Construction is now underway!

Wesley Tower at Daniels City Centre, the newest addition to this iconic, masterplanned community will stand tall at the corner of Confederation Parkway and City Centre Drive in Mississauga. With an amazing location and well-considered amenities for all to enjoy, Wesley Tower offers the choice of one bedroom to family-friendly three bedroom suite designs.

Visit Our Presentation Centre today at 368 Prince of Wales Drive in Mississauga.

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DANIELSWESLEYTOWER.ORG

DANIELS’ ACCESSIBILITY DESIGNED PROGRAM

With the launch of its Accessibility Designed Program, The Daniels Corporation continues to strengthen its commitment towards inclusivity. Dedicated to providing a higher standard in accessibly designed homes for people using mobility devices, Daniels ensures that the suites offered through its Accessibility Designed Program (ADP) exceed the accessibility standards set by the Ontario Building Code (OBC).

Daniels recently unveiled a new program dedicated to providing a higher standard in designing accessible homes for people using mobility devices.

Recognizing mobility needs vary among individuals, Daniels is offering a series of standard accessible layouts to choose from at no additional cost. These standard layouts include accessible features such as roll-in showers and roll-out balconies. Homebuyers can consult Daniels to further upgrade their suites to meet their specific accessibility needs.

Roll-out Balcony and Alternate Kitchen example

Roll-in Shower example

THE ACCESSIBILITY DESIGNED PROGRAM IS AVAILABLE AT TWO OF DANIELS’ COMMUNITIES:

Da n i e l s i s commi tte d to th e on goi n g de ve l opme n t of h ome ow n e r progra ms w i th a goa l to e l i mi n a te a cce ssi bi l i ty ba rri e rs.

ADP suite overview:

Alternate Kitchen:

• Power door operator (PDO) rough-in for entry into the suite

For an additional cost, the Alternate Kitchen can be designed to meet the needs of mobility device users.

The Alternate Kitchen includes the following features:

• All doors within the suite will offer a minimum 865mm clearance (34”), and will also have the required 600/300mm latch side clearance (LSC) • Roll-out low threshold balcony access

Within the Regent Park Revitalization in Toronto’s Downtown East

• Minimum 1100mm clearance between island and kitchen • At least one bathroom will provide the following features:

Within the Daniels City Centre Community in Mississauga

PURCHASERS CAN SELECT FROM ONE, TWO, AND THREE BEDROOM LAYOUTS.

DuEast Condominiums

Wesley Tower

DESIGNING POSSIBILITIES. REMOVING BARRIERS. For more information about Daniels’ Accessibility Designed Program, go to

D ANIELS H O M E S .CA

Layout • Minimum 1100mm clearance between island and kitchen • Under-sink clearance • Accessible counter heights (lowered to 34”)

Appliances

- Roll-in, tiled shower

• • • •

- Grab bars in shower

Further modifications

- Handheld shower faucet

• • • • •

- Under-sink knee clearance - Minimum 900mm x 1500mm clear transfer space beside toilet - Minimum 1500mm turning radius

Side-opening oven Double-door fridge Cooktop with knee clearance Dishwasher drawer

Electrical outlet placement Accessible hardware Sliding doors Closets with accessible reach Colour/tonal contrast package for finishes • Emergency back-up power to one outlet within the suite

TREMENDOUS SUCCESS!

ADP Features:

The standard design features will include:

1

Roll-in shower While barrier-free washrooms under OBC require a larger turning

2

Roll-out balcony with swing door Balconies are typically accessed by a sliding

3

radius, they do not require any barrier-free features. Barrier-free washrooms often have bathtubs, and therefore do not meet the needs of mobility device users.

door with a threshold high enough to make rolling out in a wheelchair difficult without a ramp. Moreover, balcony doors are often too narrow to accommodate a mobility device.

Power operated entry door rough-in Power-door operated suite entry doors will greatly improve the functionality of the suite. A rough-in for a PDO will be provided at accessible suite entries.

4

Handheld shower faucet Flexible, handheld shower faucets greatly improve the

5

Wider doors throughout Under the OBC, at least one bedroom door and one

6

functionality of the shower and will be provided in all roll-in showers.

bathroom door are required to have a clear opening of at least 865mm (34”) in barrier-free suites. Daniels will provide at least 865mm clearance on all bedroom doors and the accessible bathroom door.

Additional clearance in washroom The OBC requires a 1500mm turning radius in bathrooms, but the ADP bathroom will have additional clearances, including 900mm x 1500mm clearance transfer space beside the toilet and shower, and knee clearance underneath the sink.

For more information about Daniels’ Accessibility Designed Program, contact: accessibilitydesigned@danielscorp.com

416-598-2129

For Sales Office hours and locations, visit: danielshomes.ca

Find out why people are heading DuEast today!

As the sun rises in the east, so does a brand new condominium in one of Toronto’s most desirable and fastest growing neighbourhoods. Situated at the corner of Sumach and Dundas Streets, in the heart of the award-winning Regent Park revitalization, this new landmark residence will feature studio to three bedroom suite designs, outstanding resident amenities and a location that’s surrounded by a 6-acre park, aquatic centre, athletic grounds, schools, shopping, dining, and easy transit options.

416.955.0559 D U E A S T T O . C A

Exclusive Listing: City Life Realty Ltd., Brokerage. Brokers Protected. Not all suites are included in the Accessibility Designed Program. Due to construction timelines, the opportunity to incorporate the Alternate Kitchen configuration is time sensitive. **Daniels’ 10% Deposit Program and Gradual Deposit Payment Plan are subject to availability and are limited time offers. Qualifications and conditions apply. Speak with a Sales Representative for details. All brand names, logos, images, text and graphics are the copyright of the owners, The Daniels Corporation. Reproduction in any form, without prior written permission of The Daniels Corporation, is strictly prohibited. Illustrations are artist’s concept. E. & O. E.

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TRENDING

TRINITY RAVINE TOWERS More than 300 people attended a groundbreaking ceremony on Oct. 19 for Global Kingdom Ministries’ Trinity Ravine Towers, a 55-plus adult lifestyle, two-tower condominium community located at 1250 Markham Rd., between Ellesmere Road and Hwy. 401.

Construction will begin on the sold out Phase 1, and Phase 2 is now on sale, with prices ranging from $272,900 to $640,000 for suites starting at 527 up to 1,189 sq. ft.

“Trinity Ravine Towers prioritizes the needs of its residents,” says CEO Kern Kalideen. “The Reinders & Rieder architectural team that designed our classically inspired, light stone towers has been building its impressive portfolio since 1967, including churches, fitness and leisure complexes, commercial and industrial projects, and private schools, which has given them a thorough understanding of how personal evolution changes how people relate to their physical environment.”

Suites at Trinity Ravine Towers will have a full or Juliet balcony with the highest quality standard features. Each unit has a full kitchen, although residents will benefit from the luxury of a meal prepared by the community’s in-house catering team at the 230-seat, bistro-inspired dining room that overlooks the manicured amenities courtyard.

Extensive amenities include a gymnasium, fitness centre, rooftop terrace and activities courtyard, 52 NextHome.ca NextHome.ca | GTA

PHOTO CREDIT: ARTHUR MOLA

PHASE 1 BREAKS GROUND

Celebrating this milestone is (right to left) Global Kingdom Ministries Pastor Bob Johnston; Trinity Ravine Towers CEO Pastor Kern Kalideen; DeBaeremaeker; Tigist Zemene, representing Scarborough-Guildwood MPP Mitzie Hunter and Evon Reid, representing ScarboroughGuildwood MP John McKay.

and a wide variety of sports, recreational, artistic, musical, travel and fitness programming.

The community will also feature a library and lounges, a movie/media room, craft room, a wellness centre, convenience store, computer labs and more.

The community will also have access to medical support and 24hour emergency response to give residents additional confidence that all their needs are being met.

Residents may also purchase service packages and à la carte services including housekeeping and laundry. Trinity Ravine Towers’ commitment to accessibility is highlighted with 360-degree

turnarounds in bathrooms and kitchens, and bathtubs feature walk-in access.

“A lifestyle with no lawn care or snow clearing and services that adapt to residents’ changing needs allow residents to age in place, surrounded by their peers and within a welcoming environment for their friends and family,” added Kalideen. “This affordable, active community offers independent care, multi-leveled dependent care and assisted living arrangements with compassionate, faith-based care that honours and celebrates each individual resident.”

For more information, visit trinityravine.ca

OUR 25TH ANNIVERSARY COMMUNITIES: CURRENT COMMUNITIES TIFFANY HILL - ANCASTER GRAND OPENING CONTINUES 45’ & 40’ Singles, Freehold Towns Starting from the low $600’s AFFINITY CONDOMINIUMS ALDERSHOT / BURLINGTON Two Contemporary Mid-Rise Condominiums Starting from the upper $300’s NEIGHBOURHOODS OF MOUNT PLEASANT - BRAMPTON Freehold Traditional Towns and Contemporary Townhaus Collection Starting from $699,990

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PLATINUM COLLECTION RANDALL RESIDENCES - OAKVILLE Suites from $2.2 million By appointment only RandallResidences.com COMMUNITIES COMING SPRING 2018 ON THE RIDGE - STONEY CREEK Singles, Semis and Freehold Townss Register at LiveOnTheRidge.ca

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Visit RosehavenHomes.com For directions, maps, hours and community information call our hotline

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Prices and specifications correct at press time. Prices quoted are in thousands except for Randall pricing. E. & O.E.

ADVICE | STAT CHAT

HOMEOWNERSHIP STILL A GOAL FOR MILLENNIALS

BEN MYERS

Earlier this year, Royal LePage conducted a survey of Millennials aged 25 to 30 across Canada and found the desire among young Canadians to own a home remains very strong. The survey found that 87 per cent of Millennials believe homeownership is a good investment.

However, when breaking down the Royal LePage survey results further, they show that 72 per cent of Millennials in Ontario think house prices are not affordable.

Given that value constraint, about two-thirds of survey respondents are willing to move to other cities or suburbs where property is more affordable.

In early November, results of a survey conducted of Millennials in the Greater Toronto and Hamilton Area by the Toronto Board of Trade were released. Despite the skyrocketing house prices this year, 86 per cent of Millennials want to own their home, with 30 per cent of those respondents planning to accomplish that goal over the next two years. The results of the survey also showed that 67 per cent of Millennials plan to spend less than $750,000 on their next home purchase.

For comparison purposes, a new single-family house in the Greater Toronto Area (GTA) is being offered at about $1.2 million, according to Altus Group data, but 54 NextHome.ca NextHome.ca | GTA

a new GTA condo is available for approximately $640,000. A new condominium outside the GTA, but inside the Greater Golden Horseshoe is priced at slightly more than $450,000.

Perhaps you think all of those prices are too high. Well, you’re not alone. The Toronto Board of Trade survey showed that the biggest reason Millennials are still renting is they can’t afford a

“

Millennials see the value in owning, but perhaps a more patient strategy of buying a new condominium is a prudent approach.

”

down payment, while a significant portion of respondents indicated that they wouldn’t be able to afford the monthly carrying costs if they owned. To combat those problems, about one-third of Millennials plan to get financial help with their down payment, with the survey indicating that the majority of those seeking assistance are looking at buying a condominium.

For the Millennials who worry about their down payment and monthly carrying costs, they should consider buying a new condominium. Although most new condominium developers require

a 15 per cent down payment, it is often payable over one year to 450 days, not all at once like a resale unit. Most new projects have expected completion dates in three or four years, so a purchaser could borrow the down payment and slowly pay if off until occupancy commences in 2020 or 2021. This strategy allows a buyer to wait a couple years, at which time there is a good possibility that their income is higher, and allow them a few years to convince their parents or relatives to help them out with their monthly payments.

Millennials see the value in owning, but perhaps a more patient strategy of buying a new condominium is a prudent approach. The home is under warranty, everything is brand new and never used, and a buyer gets to pick all their colours and finishes. It might not be big, you might not get it right away, but it will look the way you want it, and a new home warranty gives you peace of mind.

To all the Millennials out there, good luck in your home search.

Fortress Real Developments partners with builders across Canada, and Ben assists in evaluating the market and projects that Fortress engages in.

Follow his blog posts and commentary on the Canadian Housing Market at fortressrealdevelopments.com or follow Ben on twitter at @BenMyers29

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PROPERTY PROFILE

DUNPAR HOMES MAKES LUXURY LIVING EVEN MORE AFFORDABLE In keeping with changing trends in the housing market, Dunpar Homes has made buying a new townhome in the heart of Streetsville a lot easier.

Dunpar Homes is known for luxury townhomes close to local amenities and good transportation routes, and the latest Dunpar community, Streetsville Centre, is no exception. This 200-unit enclave of spacious towns and semis just off the main thoroughfare is priced in the mid-$800’s.

Better still, is the offer of a 1.99-per-cent interest-only 56 NextHome.ca NextHome.ca | GTA

mortgage for three years. That translates into payments as low as $1,250 a month. When purchasing now, buyers also get $25,000 off the purchase price, or $30,000 in design credits for upgrades in their home.

The real estate market slowdown is no secret, coming on the heels of the Ontario government’s Fair Housing Plan, unveiled in April. Intended to bring stability and affordability to renters and homebuyers, it included a 15-per-cent foreign buyer tax and stricter regulations on agents.

It was about time – house

prices had risen 24 per cent in a year, Stats Can reported higher than ever debt loads in Canada, and homeownership was increasingly out of reach for new buyers in the GTA. That doesn’t mean the market is in freefall, however – homeownership is still a stable and secure investment.

For example, house prices this year are still higher than 2016.

And condo sales have risen a staggering 62 per cent from last year. All this to say people are still buying homes, but they are looking for greater affordability.

While real estate prices are always top of mind for Torontonians, traffic, congestion and commuting are a close second. The two go hand in hand, of course – home costs have spiked in the past 15 years, causing buyers to look farther afield for affordable housing. Even though that’s resulted in healthy and sustainable growth for Toronto’s satellite cities, it’s also brought gridlock and long commutes.

Not so with Streetsville. It’s said that the definition of a good location is one that gives you more time for living and less time spent in a car. As a heritage town within Mississauga, it has a small town feel but with big city access.

Not only are there restaurants, shops, dental and medical services, ample greenspace and good schools, there is also a GO station right across the street from Streetsville Centre.

The town is also close to major highways – 401, 403 and QEW – for fast access to the ski hills of Blue Mountain and cottaging on Georgian Bay, and Pearson airport is a 10-minute cab ride away.

Thanks to slow development since its founding in 1818,

Streetsville has retained its historic charm, boasting the largest number of heritage structures in the City of Mississauga. There is plenty of greenspace for outdoor activities: hiking, cycling, rollerblading. In the middle of town, Streetsville Memorial Park offers a soccer field, baseball diamond, community centre, outdoor pool, huge picnic grounds and hiking trail. A quick bike or car ride away along the shores of Lake Ontario are the Rattray Marsh Conservation Area and the Riverwood Conservancy.

On the Credit River, which meanders alongside the town, you can kayak and canoe. The river is also stocked with fish thanks to the stewardship of the Credit River Anglers Association (CRAA), which has maintained the Streetsville fish ladder and fish hatchery. And for bird-watchers, migrating birds are plentiful, especially around Riverwood, Erindale Park and the U of T Mississauga campus.

And yet, the main street is bristling with activity – specialty food shops, casual and fine dining restaurants, clothing boutiques, spas and salons – all centred around The Village

Square, where you can enjoy free yoga and Latin dance classes, Christmas tree lighting and a Remembrance Day parade.

Local schools are excellent – not just elementary and high school, but also university. University of Toronto’s Mississauga campus is close to downtown and offers degrees and continuing education.

To book an appointment, call 416.318.9112 or register online at dunparhomes.com

+ LOCATION Streetsville DEVELOPER Dunpar Homes DEVELOPMENT Streetsville Centre HOME TYPE Townhomes CONTACT 416.318.9112 dunparhomes.com

NOV 11 - 25, 2017 57

ADVICE | MORTGAGE INTEL

NEW MORTGAGE RULES: HOW WILL THEY AFFECT YOU?

ALYSSA FURTADO

Canada’s banking regulator – the Office of the Superintendent of Financial Institutions (OSFI) – introduced new mortgage rules, which requires a stress test for borrowers with uninsured mortgages.

As of Jan. 1, 2018, consumers who get uninsured mortgages – those with a down payment of 20 per cent or more – will have to qualify at a new minimum qualifying rate, which is the greater of the Bank of Canada’s five-year benchmark rate (currently 4.89 per cent) or 200 basis points higher than their actual mortgage rate.

In October 2016, the federal government introduced a similar stress test for all insured mortgages – those with a down payment of less than 20 per cent. Before those rules were introduced, only insured mortgages with a fixed-rate term of less than five years as well as those with variable rates were subject to a stress test.

The stress test is designed to help prove borrowers can withstand a hike in mortgage rates. However, federally regulated financial institutions aren’t expected to “re-apply the qualification rate assessment to existing borrowers that are renewing mortgages.”

“Those of us working in the mortgage industry question if

now is an appropriate time to introduce more regulation which will cool markets across the country further,” says James Laird, co-founder of ratehub.ca and president of CanWise Financial.

“We have yet to see the full impact of regulation added over the last 12 months, combined with rising interest rates,” he says. “A

“

58 NextHome.ca NextHome.ca | GTA

Those of us working in the mortgage industry question if now is an appropriate time to introduce more regulation which will cool markets across the country further.

”

more prudent approach would be to let these new variables work their way through the real estate markets and decide if further tightening is required.”

For new homebuyers, the changes will affect the amount they can afford. Here are a couple of examples of how the changes will have an impact on affordability assuming monthly property taxes of $400 and monthly heating costs of $150: 1. BANK OF CANADA FIVE-YEAR BENCHMARK QUALIFYING RATE

Using a mortgage affordability

calculator, a family with an annual income of $100,000 that qualifies for a five-year fixed mortgage at 2.83 per cent with a 25-year amortization and a 20 per cent down payment can currently afford a home worth $726,939.

But under the new rules, they’ll need to qualify at the Bank of Canada’s five-year benchmark rate, which is currently 4.89 per cent. As a result, they’ll only be able to afford a home worth $570,970.

That’s a $155,969 difference.

2. 200 BASIS POINTS ABOVE THE CONTRACTUAL RATE

Using a mortgage qualifier calculator, a family with an annual income of $100,000 that gets a five-year fixed mortgage at 3.09 per cent with a 25-year amortization and a 20 per cent down payment can afford to spend $706,692 on a home.

But under the new rules, they’ll have to qualify for their mortgage at 5.09 per cent – 200 basis points above the contractual rate. As a result, they’ll only be able to afford a home costing $559,896. That’s a difference of $146,796.

Alyssa Furtado is founder and CEO of RateHub.ca, a website that compares mortgage rates, credit cards, highinterest savings accounts, chequing accounts, and insurance with the goal to empower Canadians to search smarter and save money.

+MORE ADVICE ONLINE nexthome.ca/news/advice

52’ & 61’ Luxury Homes Set On Mature Treed Lots

S

et on a former golf course, discover a neighbourhood of peaceful tranquility, where you can hear the call of birds and the wind rustling the leaves on mature trees taller than the houses surrounding them. Yet moments away, the hustle and convenience of Yonge Street awaits.

Allegro is Aurora’s only in-town neighbourhood of magnificent new family-sized detached homes. Timeless architecture, elegant finishes, and superior construction blend with modern layouts in a collection of spacious 4 and 5 bedroom residences priced from $2.2 to over $3 million.

NOW PREVIEWING! Visit Today for Preferred Lot Selection New Home Centre: 14785 Yonge Street, Unit 104, Aurora 905-503-6300 allegroaurora.com

geranium.com Prices and specifications are subject to change without notice.

Rendering is artist’s concept. Brokers protected. E.&O.E. November 2017.

PROPERTY PROFILE

ASPIRE TO LUXURY LIVING IN A SPACIOUS NEW HOME AT ALLEGRO On a rare and unique property, minutes from Yonge Street and bordering Bathurst Street in the beautiful Town of Aurora, Geranium has created an unparalleled lifestyle opportunity at Allegro. Envisioned on a former golf course, new culde-sac streets are woven into a mature and established residential neighbourhood where existing trees reach above the rooftops.

Almost half of the property will be preserved as a park and greenspace for residents of Allegro and the broader community to enjoy.

Timeless architecture is combined with contemporary new home designs that reflect the way families live today, with both flexible, open-concept areas as well as private spaces which 60 NextHome.ca NextHome.ca | GTA

may include an office or a library, rooms that are ideal for today’s work-from-home culture. Allegro offers four- and five-bedroom layouts with two- and threecar garages, in two-storey and bungalow-with-loft configurations plus many options, such as an elevator and a dog wash/spa. Each residence has oversized patio doors opening onto a wonderful covered loggia overlooking the back garden.

An excellent selection of lot and home designs is available.

As well, you’ll be able to truly personalize your Allegro residence with Geranium’s wide selection of deluxe features and finishes. These standard features include 10-ft. main floor ceiling heights, natural

gas fireplace, exquisite cabinetry with stone countertops and SubZero/Wolf stainless appliance package in kitchens and many more luxurious items to customize your new home.

Ideally situated, Allegro is a comfortable walk to Yonge Street shopping, restaurants, schools, parks and services. Desirable schools such as St. Andrew’s College and numerous recreation centres are also nearby. Travel is easy with Hwy. 404, 400 and GO Transit just minutes away. The town of Aurora offers a vibrant year-round calendar of music, art, culture, theatre, sports and recreation as well as a museum and arboretum.

With striking exteriors, flexible

designs and outstanding finishes in a sought-after locale, Allegro is the perfect community for purchasers seeking a luxury forever home.

Placed on gracious 52- and 61-ft. wide lots, floorplans range from approximately 3,100 sq. ft. to less than 4,400 sq. ft., with prices from sightly more than $2 million.

Visit the New Home Centre to view fully furnished Model Vignettes and for first choice of preferred lots. 14785 Yonge St., Unit 104 in Aurora. For hours and information, call 905.503.6300 or visit allegroaurora.com Celebrating 40 years of home building, Geranium has envisioned many master-planned communities including more than 8,000 homes built in Ontario.

Geranium has a reputation as a company dedicated to providing top-quality construction and high calibre finishes, installed with meticulous attention to detail.

For more insight on Geranium’s approach to home building, view the Construction & Craftsmanship video on the company’s website geranium.com

+ LOCATION Aurora DEVELOPER Geranium DEVELOPMENT Allegro HOME TYPE Single-family homes

SALES CENTRE 14785 Yonge St., Unit 104 CONTACT 905.503.6300 allegroaurora.com

NOV 11 - 25, 2017 61

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PHOTOGRAPHY BY STACEY BRANDFORD

INSPIRATION

IN THIS SECTION

SARAH RICHARDSON: SERVING UP STYLE

WELL-CURATED HOUSEWARES

COSY HOME GIFT GUIDE

NOV 11 - 25, 2017  63

PHOTO BY FIRST LAST

INSPIRATION | DESIGN SECRETS

SARAH RICHARDSON

SERVES UP STYLE

Some style makers have become iconic. Design shows on TV feed an audience’s appetite for going behind the scenes of great design. We love seeing beautiful rooms pulled together – discovering pieces we didn’t know exist but now can’t live without. Sarah Richardson certainly has achieved that.

From her first HGTV show – Room Service – to huge hits such as Design Inc., Sarah’s house, Sarah 101 and numerous others, 64 NextHome.ca

by ELISA KROVBLIT KEAY

Sarah Richardson has spent more than 20 years in decor television and more than 15 years in her own design business. So, when she recently designed a kitchen for Monogram, it was like stepping onto the set of your favourite episode! Only better.

PHOTOGRAPHY BY STACEY BRANDFORD

Sarah Richardson gets cooking with Monogram and serves up today’s trends

TV will always impress with flattering lighting and complementary angles, but entering the actual space offers an experience. You can see how the light plays on different surfaces, get a feel for the appliances, walk through the work space and test out the seating.

Sitting down with Richardson in the kitchen she designed brings everything to life.

Richardson didn’t just collaborate with Monogram, she has long used their appliances in her own kitchen. “I cook on Monogram appliances at home,” she says. “I bought them because I love the styling, craftsmanship and quality. All of the little details express who I am as a designer.”

Appliances are the gorgeous jewels in this kitchen design, but many other features simply exude elegance. It’s a joy being in it, and it offers many elements to take away for your own home.

Richardson included current and upcoming trends in this design – and they’re a fantastic departure from current kitchen style.

“For me, it’s all about lifestyle,” Richardson explains, acknowledging that the kitchen is for much more than just food prep and eating – it’s the headquarters. There are seating areas, a desk work station and open shelving. “The trend is a living kitchen. The idea is a kitchen with personality.”

Immediately striking is the colour. The blue paint – an inky blue, she explains, is reminiscent of the night sky. It’s soothing and calm. “It’s not a bright, white, sterile kitchen,” Richardson says.

The brass – from lighting and faucets to hardware and accents – is a distinct change from chrome.

The backsplash incorporates a hexagonal motif.

It is a unique feature that Richardson created and repeated in the oven hood, a customized enclosure that allowed her to introduce the pattern on a smaller scale.

Lighting wasn’t overlooked, either. The different work areas each have their own lighting – both functional and stylish – creating the perfect ambiance for working or entertaining.

The lovely thing, Richardson notes, is that this isn’t an enormous kitchen, and this style can be used on any scale by getting into the details in each element.

“You need to know who you are,” Richardson says. That is the most important thing about styling your kitchen and creating a room that meets your needs – not just as a room for food prep, and not just aesthetically, but as a functional space and a focal point of your home where you can enjoy living, entertaining and being.

+MORE INSPIRATION ONLINE nexthome.ca/news/inspiration

NOV 11 - 25, 2017 65

SHOP TALK

SOUVENIR WELL-CURATED HOUSEWARES, WHERE EVERY PIECE HAS A STORY Little Portugal is not the most obvious destination in Toronto for modernist design. But Souvenir – the meticulous, all-white housewares boutique, design studio and event space – hopes to change that with its collection of well-curated goods such as ceramics, fragrances and furniture.

It’s also a venue for one-off workshops and pop-ups, and it houses owner and creative director Danielle Suppa’s design practice to boot.

“We keep joking that we’re a design community centre,” says Suppa. She runs the space with long-time friend Trisha Lepper (brand partner at Souvenir), whom she met at fashion school.

Formerly a Mexican restaurant, the space felt right for the pair, who snatched it up quickly and pulled

off a three-week renovation, highlighted by about 20 cans of white paint.

NEW CANADIAN CLASSICS

While Suppa and Lepper are admittedly lovers of Scandinavian modernism, at the moment, Souvenir stocks almost exclusively Canadian-made goods, with an impressive range of local wares, including ceramics by Torontobased husband and wife team Akai Ceramic Studio, original ink tests

by The Toronto Ink Company and wooden furniture by Coolican & Company, whose studio is a short distance away on Sterling Road.

“I could point out five or 10 people that we’re selling that live in a 500-metre radius of the store,” says Suppa, who also lives in the neighbourhood.

Other items include scents by playful Edmonton fragrance house Libertine, beautifully edited travel books by Studio Caroline Gomez from Bordeaux, France, ceramics

by Toronto up-and-comer Oscar Kwong, and a variety of vintage items that Suppa and Lepper have picked up on their travels.

Lepper explains that from the get-go, Souvenir has been about forging authentic, personal relationships with their vendors’ brands.

“We love everyone we work with,” she says. “We get so excited about their products and they’re equally as excited to be here, so it’s very loving on both sides.”

For Souvenir, it’s really about discovery. “Every piece has a story. That’s really important to us,” says Suppa.

SPONSORED CONTENT / SHOP ALL ITEMS TODAY AT SOUVENIR-STUDIOS.COM

66 NextHome.ca

While the store opened its doors on College Street in October 2015, Souvenir began as a series of pop-up shops providing eager Torontonians with Suppa and Lepper’s design treasures. After gaining a dedicated following, they decided they needed a permanent space to house their wares.

But they didn’t stray too far.

Encouraged by the momentum of the pop-ups, the partners incorporated the idea of a space in constant rotation into Souvenir’s philosophy, ensuring their customers find new and fresh items every time they walk in. By hosting events in the space, Suppa and Lepper hope to contribute to and invigorate the community.

“Trish and I always talk about the things we love and get so excited about new brands and people making things. This is a regular, endless conversation for us,” Suppa explains.

PHOTOGRAPHY BY JESS CARROLL

POP-UP TO PERMANENT

A SPLASH OF WHITE

Evidently, their eagerness seems to be rubbing off. Despite being located off the beaten path on College Street near Lansdowne, the space has been received with great positivity by neighbourhood locals.

“It’s blowing us away how many people in the industry and creative people live here,” Lepper says. “It’s a very design-focused community.

They’re so happy to have something here that’s a little bit different.”

And, as pop-up aficionados, Suppa and Lepper are used to taking chances in the name of design. Suppa says, “I love College Street. It’s a bit more unassuming.

Sometimes, you have to be a bit of a pioneer and say, ‘I think this area is interesting,’ and just plunk down.”

Souvenir 1232 College St., Toronto souvenir-studios.com

NOV 11 - 25, 2017 67

INSPIRATION

THE COSY

home gift guide GIFTS TO MAKE ANY HOME A HAVEN!

by SARA DUCK

1 2

1 | Embossed bear mug. $14. chapters.indigo.ca

4

2 | Tea kettle in turquoise by Kate Spade New York. $140. amazon.ca

3

3 | Whisky truffles. $13. homesense.ca

5

4 | Mongolian lamb stool. $489. westelm.com 5 | Lakeside tea. $9. drakegeneralstore.ca 6 | Willa basket in grey by Canvas. $37. canadiantire.ca

6

…continued on page 70 68 NextHome.ca

‌continued from page 68

9

10

7

8

7 | Aromagem ultrasonic diffuser in black. $80.

Saje.com

11

8 | Aromachologie relaxing bath salts. $29. loccitane.com 9 | Cruiser Deluxe portable turntable

by Crosley. $98. walmart.ca

13

10 | Large hex teak serving board. $119. cb2.com

12

11 | Wood Sage & Sea Salt home candle

by Jo Malone London. $80. holtrenfrew.com 12 | Intense Pure Air purifier PU6020. $550. rowenta.ca 13 | Cashmere blend bathrobe. $149. hm.com 14 | Knit herringbone pom-pom throw in black. $79. chapters.indigo.ca 15 | Scandinavian Comfort Food by Trine Hahnemann. $35. anthropologie.com

14

16 | Elliot Mantel electric fireplace.

Starting at $2,299. dimplex.com 17 | Fur tipped cable knit reading socks in ash. $34.

Chapters.indigo.ca

17 16

15

70  NextHome.ca

Markham tour o ur

New Release! New Designs!

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MARKHAM

TRENDING

CAR INSURANCE THE MOST EXPENSIVE (& CHEAPEST) AREAS IN GTA The Greater Toronto Area (GTA) has some of the highest insurance premiums in the province, but just how expensive depends on a number of factors – your driving record, insurance history, vehicle make and model, and according to the latest study, your postal code will also play a significant role in determining the amount you pay for auto insurance.

Kanetix.ca, an insurance and financial rate comparison site, conducted a study to see how much a driver’s location will impact their car insurance premiums. The study examined 35-year-old drivers of 2014 Honda Civics, all of which had a clean driving record. The only difference: their postal code.

While Ontarians pay an average of $1,316, Toronto residents pay an average of $1,743 – about 32 per cent higher. And depending on where you live within the city, you could pay upwards of $2,400 per year for your coverage.

Many areas within the GTA exceed the $2,000 mark.

Kanetix.ca found 22 neighbourhoods in Toronto where residents likely pay $2,000 or more, and the most expensive premiums are found in Scarborough.

Here are the most expensive – and the cheapest – areas for auto insurance in Toronto by postal code.

MOST EXPENSIVE CITIES FOR AUTO INSURANCE Provincial average: $1,316 Toronto average: $1,743 CITY

ESTIMATED PREMIUM

1. Brampton

$2,268

2. Vaughan

$1,825

3. Mississauga

$1,788

4. Markham

$1,785

5. Toronto

$1,743

SOURCE: kanetix.ca

MOST EXPENSIVE RATES FOR CAR INSURANCE

LEAST EXPENSIVE RATES FOR CAR INSURANCE

1

AREAS/POSTAL CODES 1. Toronto (M4V, M5R, M5S)

$1,491

2. Toronto (M4K, M4P, M4T, M4W, M4Y, M5B, M5G, M5H, M5K, M4G)

$1,437

2. East York (M4G)

$1,437

SOURCE: kanetix.ca

72 NextHome.ca NextHome.ca | GTA

4

5 7 6

AREAS/POSTAL CODES

ESTIMATED PREMIUM

2

1

4

3

ESTIMATED PREMIUM

1. Scarborough (M1S, M1V, M1W)

$2,384

2. Scarborough (M1B, M1X)

$2,313

3. Scarborough (M1J, M1K)

$2,180

4. Etobicoke (M9V, M9W)

$2,115

4. North York (M3L, M3N, M9M, M2R, M3J)

$2,115

4. York (M6E, M6M, M9N)

$2,115

5. North York (M4A)

$2,033

6. York (M6C)

$2,031

7. Scarborough (M1L, M1R)

$2,023

SOURCE: kanetix.ca

ADVICE | LEGALLY SPEAKING

TITLE INSURANCE WHAT IS IT AND WHY DO YOU NEED IT?

JAYSON SCHWARZ

Title insurance provides comprehensive insurance coverage for title-related risks associated with home buying, like zoning issues, claims of mental incapacity, lack of up-to-date survey, and the legal services provided by your lawyer like title certification. It insures against defects in title, which may occur from conflicting ownership claims, liens, undischarged mortgages and consents. It will cover compliance and access issues like work orders, permit violations, fences, boundaries, tenancies and rights of way. It is in force so long as the purchaser or their heirs own the property, and will outlive the lawyers’ certification, whose insurance stops if they die or cease practicing law.

So, what happens when there’s a problem with the purchase? The insurer will pay out in accordance with the policy or, if possible, repair the defect. Title insurance protects you from vendors who won’t re-adjust or misrepresent things like real estate taxes paid, and again, remains in effect as long as you own the property.

In addition, lawyers’ insurance is time-of-incident related, which in plain English means if your lawyer dies, retires or stops practicing and you subsequently make a claim, you’re not covered.

We have all read and heard 74 NextHome.ca NextHome.ca | GTA

about mortgage and title fraud, where unscrupulous people put fake mortgages on properties or sell houses they do not own. Title insurance indemnifies you against these occurrences.

Another benefit of title insurance is it saves you money.

Disbursements — money paid to third parties for items such as building compliance letters, subdivision compliance letters and deed registration — are lower.

Almost all of Ontario is now on an electronic registry system.

Title insurance has become the norm and many of the transactions are done by computer communications. Make sure the lawyer you select has taken title insurance courses, is familiar with Terranet, and can properly advise you. The Law Society passed a rule that every lawyer on a residential real estate deal must advise the client of title insurance, the different companies offering it, and how it works.

Every lawyer has an obligation to make you aware of your title insurance options, so you can

choose which way you want to go. Think through your options carefully and choose wisely.

4 REASONS WHY TITLE INSURANCE IS BETTER THAN LAWYERS’ INSURANCE THROUGH LAWPRO:

• Gives better coverage as to the quality of your ownership • Lasts forever, where lawyers don’t • Saves you money in disbursements • Protects from mortgage and title fraud

Jayson Schwarz LL.M. is a Toronto real estate lawyer and partner in the law firm Schwarz Law LLP. Visit online at schwarzlaw.ca or email info@schwarzlaw.ca with your questions, concerns, critiques and quandaries.

+MORE ADVICE ONLINE nexthome.ca/news/advice

Your nexthome is waiting.

Find the perfect new home or condo in the neighbourhood that fits your lifestyle.

HOT PROPERTIES

FIND YOUR NEXT HOME The latest properties in the Toronto area to keep your eye on

GTA PREVIEW REGISTRATION 1. ALLEGRO By: Geranium Homes City: Aurora Housing type: 52- and 61-ft. cul-de-sac homes from more than $2 million allegroaurora.com

2. BIANCA

9. GLENWAY

18. THEORY CONDOMINIUMS

By: Andrin Homes & Lakview Homes City: Newmarket Housing type: Townhomes and detached bungalows glenwayliving.com

By: Parallax Development Corporation City: Toronto Housing type: Condominium suites theorycondos.com

10. HILLSBOROUGH By: Great Gulf & Andrin Homes City: Holland Landing Housing type: Detached homes andrinhomes.com • greatgulf.com

11. KINGSWAY BY THE RIVER

By: Tridel City: Toronto Housing type: Luxury condominiums Tridel.com

By: Urban Capital City: Toronto Housing type: Condo lofts kingswaybytheriver.ca

3. BOXGROVE VILLAGE

12. LOGGIAS IN RICHDALE

By: Arista Homes City: Markham Housing type: Family sized freehold townhomes and live/work towns boxgrovevillage.com

13. M CITY CONDOS

4. CITYLUX TOWNS By: Fieldgate Homes City: Thornhill Housing type: Urban townhomes in Thornhill Woods fieldgatehomes.com

5. COBBLESTONES SOUTH By: Fieldgate Homes City: Brampton Housing type: 36-ft. singles up to 3,481 sq. ft. fieldgatehomes.com

6. CONCORD CANADA HOUSE By: Concord Adex City: Toronto Housing type: Condominium suites ConcordCanadaHouse.ca

7. CYPRESS By: Pinnacle International City: Etobicoke Housing type: Condominium suites PinnacleEtobicoke.ca

8. DOWNSVIEW PARK By: Stafford Homes City: Toronto Housing type: Townhomes staffordhomes.ca

76 NextHome.ca NextHome.ca | GTA

By: Senator Homes City: Richmond Hill Housing type: Luxury detached homes senatorhomes.com

By: Rogers Real Estate Development & Urban Capital City: Mississauga Housing type: Condominium suites mcitycondos.com

14. MISSISSAUGA SQUARE By: Plaza City: Mississauga Housing type: Condominium suites pureplaza.com

15. QUEEN’S COMMON By: Mattamy Homes City: Whitby Housing type: Detached and townhomes mattamyhomes.com

16. SUMMIT CITY CENTRE By: Summitview Homes City: Mississauga Housing type: Two-storey urban towns summitviewhomes.com

17. SUPERSONIC By: Lindvest City: North York Housing type: Condominium suites lindvest.com/supersonic

19. TIME AND SPACE By: Pemberton Group City: Toronto Housing type: Condominium suites PembertonGroup.com

20. UPPER VALLEYLANDS By: Fieldgate Homes City: Brampton Housing type: Singles, semis and towns fieldgatehomes.com

21. VICTORY HEIGHTS By: Treasure Hill Homes City: Vaughan Housing type: 40- and 42-ft. luxury singles treasurehill.com

22. WESLEY TOWER By: The Daniels Corporation City: Mississauga Housing type: Condominium suites DanielsCityCentre.com

23. WHITBY MEADOWS By: Fieldgate Homes City: Whitby Housing type: Towns and singles fieldgatehomes.com

24. VITA ON THE LAKE, VITA TWO By: Mattamy Homes & Biddington Homes City: Etobicoke Housing type: Condominiums mattamyhomes.com

25. VALHALLA TOWN SQUARE By: Edilcan City: Etobicoke Housing type: Condominiums valhallatownsquare.com

NEW OPENINGS 26. AQUABELLA By: Tridel & Hines City: Toronto Housing type: Condominium suites from 1,767 to over 4,000 sq. ft.

Tridel.com

27. CHELSEA MAPLE STATION

36. ORCHARD WEST

By: Aspen Ridge Homes City: Vaughan Housing type: Townhomes aspenridgehomes.com

By: Treasure Hill City: Bowmanville Housing type: 37-, 40- and 45-ft. singles treasurehill.com

28. CONDOMINIUMS OF CORNELL

37. PACE ON MAIN

By: Mattamy Homes City: Markham Housing type: Condominium suites from 725 to 1,302 sq. ft. mattamyhomes.com

29. CORNELL ROUGE By: Madison Group and Forest Hill Homes City: Markham Housing type: Freehold towns and singlefamily homes cornellrouge.com

30. FOXBAR COLLECTION AT BLUE DIAMOND By: Camrost Felcorp City: Toronto Housing type: Two- and three-bedroom luxury suites and townhomes thefoxbar.ca

31. IMPRESSIONS By: Fieldgate Homes City: The Village of Kleinburg Housing type: Towns, semis and singles fieldgatehomes.com

32. KLEINBURG SUMMIT By: Mattamy Homes City: Vaughan Housing type: Detached and townhomes mattamyhomes.com

33. MADISON LANE By: Reid’s Heritage Homes City: Bowmanville Housing type: Luxury condos madisonlanecondos.com

34. NEIGHBOURHOODS OF MOUNT PLEASANT By: Rosehaven Homes City: Brampton Housing type: Freehold townhomes rosehavenhomes.com

35. NEWTOWNS AT MOUNT PLEASANT By: Primont Homes City: Brampton Housing type: Townhomes primonthomes.com

+

By: Geranium City: Stouffville Housing type: Condo towns paceonmain.com

38. QUEENSWAY PARK By: Urban Capital & Rosewater City: Etobicoke Housing type: Condominium suites queenswayparkcondos.ca

39. RICHLANDS By: Fieldgate Homes City: Richmond Hill Housing type: Towns and singles fieldgatehomes.com

MAPS Locate properties using the map on the following page

46. NOBU RESIDENCES By: Madison Group City: Toronto Housing type: Condominium suites noburesidences.ca

47. FOREST GATE By: Kaneff City: Mississauga Housing type: Luxury town manors across from Lionhead Golf Club kaneff.com

40. TIME By: Treasure Hill Homes City: Aurora Housing type: Urban townhomes treasurehill.com

41. THE MET By: Plaza City: Vaughan Housing type: Townhomes pureplaza.com

42. TOWNS AT ROUGE VALLEY By: Tribute Communities City: Scarborough Housing type: Urban townhomes mytribute.ca

43. VALLEYLANDS By: Fieldgate Homes City: Brampton Housing type: Single-detached fieldgatehomes.com

44. VISTA By: Geranium Homes City: Stouffville Housing type: Condominium one-storey flats and two-storey towns vistaflatsandtowns.com

45. FRENCHMAN’S BAY By: Madison Group City: Pickering Housing type: Townhomes and singles madisongroup.ca

OTHERS (NOT FEATURED ON MAP) ALCONA SHORES By: Bayview-Wellington Homes City: Innisfil Housing type: Luxury singles on 32-, 45- and 48-ft. lots myalcona.com

GEORGIAN SANDS By: Elm developments City: Wasaga Beach Housing type: Towns and singles georgiansands.com

RADIANCE By: DIAM Developments City: Innisfil Housing type: Townhomes radianceinnisfil.ca

VILLAGES OF KILLARNEY BEACH By: Ballymore Homes City: Innisfil Housing type: Detached homes ballymorehomes.com

WHITE PINES By: Mattamy Homes City: Bracebridge Housing type: Detached homes mattamyhomes.com

BUILDERS IF YOU WOULD LIKE TO INCLUDE YOUR PREVIEW REGISTRATION, NEW RELEASE OR SITE OPENING IN THIS FEATURE, JUST EMAIL THE DETAILS TO WAYNE.KARL@NEXTHOME.CA

NOV 11 - 25, 2017 77

HOT PROPERTIES / GREATER TORONTO AREA

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MAP LE GE N D NEW HOMES CONDOS

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TRENDING

REDEVELOPMENT OF KIPLING STATION TAKES NEXT STEP They say timing is everything, and now may be the time to check out new condo projects in central Etobicoke and the surrounding area. The province has moved into the next phase in redeveloping the Kipling transit station into a hub that will connect subway, regional rail and inter-regional bus services within a single station. With new condo projects registering or newly opened in Etobicoke such as Cypress, Queensway Park, Vita on the Lake, Vita Two, and Wesley Tower, Forest Gate, Mississauga Square and Summit City Centre in Mississauga, direct GO service

from Union Station to Kipling in 20 minutes means commuters will be able to make direct connections at this station to local transit and home.

Minister of Transportation,

Steven Del Duca, was joined by Peter Milczyn, MPP for EtobicokeLakeshore and Yvan Baker, MPP for Etobicoke Centre, at the Kipling GO Station on Oct. 31 to announce the next phase of procurement with the close of proposal requests to design and build the hub.

“This next step for Kipling Station is terrific news for people throughout Etobicoke,” says Baker. “By building more transit and improving access to it, we are helping more people get around the GTHA in a safe and reliable way.”

MORTGAGE PROFESSIONALS MEET WITH MPS ON MORTGAGE RULES Members of Mortgage Professionals Canada met with more than 50 Members of Parliament and senior government officials recently to discuss housing affordability, availability and accessibility as well as the negative impacts recent mortgage rule changes are having and will continue to have on Canadian consumers. Association members include mortgage brokers, mortgage lenders, mortgage insurers and industry service providers, representing more than 11,500 individuals and 1,000 businesses across Canada.

“We are concerned that the cumulative impact of recent mortgage changes are slowing housing market activity, decreasing competition and increasing costs 80 NextHome.ca NextHome.ca | GTA

for consumers,” says Paul Taylor, president and CEO of Mortgage Professionals Canada. “That said, we have been encouraged that Members of Parliament are listening to our concerns, and we continue to inform them of the positive role mortgage brokers play in the market.”

The group acknowledged the initial objective of the changes was to cool down certain markets and there are signs that this is being achieved, at least in the Greater Toronto Area and to a lesser extent the Greater Vancouver Area. However, they say there is evidence of reductions in housing activity, both sales and housing starts, in areas of the country that were already moderate, flat or even declining.

The Canada Mortgage and Housing Corp.’s insured volumes fell 34 per cent in the first six months of 2017, a number that indicates a reduction in home purchases by young Canadians from middle- and low-income families, and firsttime homebuyers. Association representatives say they are concerned that the combination of the changes and the speed with which they have been cumulatively implemented have created some adverse effects that could cause a potentially significant decline in housing activity nationally. This will be accelerated by the recent Office of the Superintendent of Financial Institution’s decision to add a stress test to all uninsured mortgages.

SWO

SOUTHWESTERN ONTARIO

IN THIS SECTION

SHOWCASING NEW PROJECTS IN SWO

EXPLORING WATERLOO PARK

MAPS & LISTINGS OF NEW COMMUNITIES

TRENDING

TELEVISION CITY CONDOS NOW ON SALE Television City is open for business. Condo units in the largest residential project in Hamilton to date officially went on sale Nov. 4. The $360-million project, spearheaded by Lamb Development Corp. in partnership with Movengo Developments, represents the first phase of the company’s investment in the city, which will include more projects worth more than $1 billion.

“As a developer, my main interest lies in building communities.

Hamilton is a vibrant, evolving city, made even greater by its people,” says Brad Lamb, CEO of Lamb Development Corp. “From homeowners to councillors to entrepreneurs, we have had the opportunity to sit down with Hamilton citizens who are excited to see the city’s potential come to life. We are happy to be part of this stage in its history.”

Located next to the preserved and repurposed Pinehurst Mansion, the two connected 40- and 30-storey towers will house approximately 618 units.

Once complete, Television City will occupy 485,424 sq. ft. of usable space, with 474,080 sq. ft. dedicated to residential units and 11,344 sq. ft. of retail space. The

community will appeal to young professionals and growing families.

Units start at $220,000, with styles ranging from studios to penthouses designed by Peter Clewes of architects Alliance and Kelly Cray of U31.

“Hamilton possesses remarkable gifts of environment and geography, paired with a gracious architectural heritage. Inserting new buildings into the downtown core has to proceed with respect for, and sensitivity to, Hamilton’s design history and its social and cultural legacy,” says Clewes.

“While Television City sets up two great, graphic towers on the city skyline, the slenderness of these forms means that we can preserve views north toward Burlington Bay and Cootes Paradise, and south toward the Escarpment. By lifting the towers above a transparent base, pedestrians on all surrounding streets can see through the building to the restored Pinehurst Mansion, which will be set like a gem into a beautifully landscaped new public garden.”

Move-in is scheduled for 2021 and Television City will offer luxury amenities such as an outdoor infinity pool, fitness centre and

skyclub as well as a co-op tech workspace, children’s play centre, private dog walk and pet-washing station. Each suite will be fully equipped with European-style modern kitchen cabinetry, doublethick stone kitchen and vanity counters, nine-ft. ceilings or higher, loft-style exposed concrete features, spa quality bathroom finishes, gas cooking and gas barbecue nozzles on all balconies.

For more information, visit lambdevcorp.com

NEW RELEASE COMING 2017 PHASE I ALMOST SOLD OUT

MADIS N CE N T R A L PARK Welcome to the most sought-after, most innovative and the largest master-planned community Hamilton has ever seen. It’s all here: nature, transportation, shopping and a true sense of community.

Following the tremendous success of Park Avenue and Madison Phase I, we are excited to release Madison Phase II opening late 2017.

BACK-TO-BACKS & 3-STOREY TOWNS from the $400’s 2-STOREY TOWNS from the $500’s

REGISTER NOW MyCentralPark.ca Pritch

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1809 Rymal Road East, Stoney Creek

ADVICE | CONDO PRO

BUYING A CONDO ONE EXCITING STEP AT A TIME

BARBARA LAWLOR

Today’s new home shoppers are better educated than ever before, with the proliferation of websites and social media that provide information on everything from communities and their locations to local amenities, transportation, builder and developer histories and government regulations on housing. It is good to be sure that when you purchase a condominium, you know exactly what you are buying and how to maneuver your way through the process efficiently.

Purchasing a new condominium suite is a major step for someone entering the housing market for the first time, as well as those who are moving to a condo from a lowrise home. Buying highrise is somewhat different, so even seasoned homeowners should do their homework before signing on the dotted line.

Some steps will be familiar to previous owners, such as signing an Agreement of Purchase and Sale, a lengthy document that defines what you are buying and explains the condominium elements of the residence. Read this carefully and show it to your lawyer to make sure you understand your portion of the maintenance fees, your closing costs and many other aspects of ownership. After you and your builder sign the Agreement, you will both receive copies. At this point, your suite is removed from 88 NextHome.ca NextHome.ca | SWO

the market for 10 days. Now you have the “right of rescission” You have time to rethink your purchase, consult with a lawyer, family and friends and then decide to go forward or cancel the purchase and get back your deposit.

If you decide to go ahead with the purchase, your deposit cheque will be cashed on the 11th day after you signed the Agreement.

“

Purchasing a new condominium suite is a major step for someone entering the housing market for the first time

”

Then you will receive a letter from your builder-developer with the amounts and dates of your future deposit cheques.

Your occupancy date is likely to be about three to six months before the condominium is registered, which means the developer submits a declaration and description of the property to a Land Registry Office, describing how the condominium is organized and operated. Even after moving in, purchasers “own” their suites only when registration is complete. This is called interim occupancy. It refers to the time you live in your suite before the title is officially registered and your mortgage comes into effect.

During interim occupancy, you have to pay the developer a fee that includes your portion of the

property taxes, your monthly maintenance fee, and the interest on the outstanding amount on your purchase price based on the one-year posted mortgage rate.

If you purchase your condo suite before the building is complete, you will be invited to your colour selection appointment to choose the features and finishes that personalize your surroundings.

Usually, when occupancy is about nine months to a year away, a decor consultant will contact you to book this exciting appointment.

Approximately a month before occupancy, you will be guided through your PreDelivery Inspection by a builder representative, who will note any deficiencies. Pay meticulous attention to everything as the representative lists concerns. You will both sign the list, and usually the deficiencies will be addressed before you move in.

In a condo, there may be many people moving in on the same day.

The builder will send you a letter with instructions on booking an elevator and truck bay for your move. Once you close the sale, you can get your keys and begin your wonderful condo lifestyle.

Barbara Lawlor is president and CEO of Baker Real Estate Incorporated, winner of the pinnacle 2017 Riley Brethour Award from BILD, and an in-demand columnist and speaker. A member of the Baker team since 1993, she oversees the marketing and sales of condominium developments in the GTA and overseas. Keep current with The Baker Blog at blog.bakerrealestate.com

+MORE ADVICE ONLINE nexthome.ca/news/advice

PHASE II

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Prices, sizes and specifications are subject to change without notice. E.&O.E. Renderings are artist’s concept.

NEIGHBOURHOOD PROFILE

WATERLOO PARK INNOVATIVE, ENERGETIC, IDYLLIC HOT SPOTS

ANNE MARSHALL

In the formerly industrial shadow of Uptown Waterloo, there’s a bit of a renaissance going on. There’s more to Waterloo Park than the green space itself, however. The neighbourhood runs from Erb Street and King to Westmount and Columbia, and includes not only the Park and surrounding area, but both universities.

VIBE

Innovative, energetic and idyllic in equal measures, Waterloo Park feels very much like the community of the future. There’s a lot to love in Waterloo, from the repurposing of former industrial buildings and brownfields into smart and sustainable condo projects, to the intersection between academia, government and business success.

MEET THE NEIGHBOURS

There’s a good chance that at least one of your next-door neighbours will be a fully-funded genius. It’s a smart and quite upscale crowd, with the exception of the students, some of whom 90 NextHome.ca NextHome.ca | SWO

are probably only a few years and degrees away from joining you in that penthouse condo! This particular neighbourhood probably holds more appeal for single professionals who prefer to live, shop and eat out close to work.

PROOF KITCHEN LOUNGE Lodged on the main floor of the gorgeous Delta Hotel Waterloo, Proof provides upscale hipsters with an alternative to the raucous pubs and chain restaurants that mainly cater to the student population.

PLANES, TRAINS & AUTOMOBILES

Waterloo Park is a highly walkable neighbourhood, and the city has thoughtfully posted signs throughout the area advising residents and visitors of the best routes for pedestrians to take. There are amazing cycling opportunities, both for pleasure and as a means of transportation. City buses serve the area extensively. For out-of-town commutes, there’s easy access to Hwys. 7 and 85, and Hwy. 8 takes you right to the 401.

CANADIAN CLAY AND GLASS GALLERY Offering classes, tours, lectures and demonstrations, the CCGG is more than a museum. The award-winning building houses a large permanent collection of silica artwork, including ceramic, glass and enamel pieces.

DOLLARS & SENSE

Waterloo Park offers a range of housing prices, from the (relatively) dirt cheap to the luxuriously outlandish, and the neighbourhood businesses also reflect this reality.

You can find generously portioned ethnic food along University Ave. West, but those who aren’t charging every meal to their parents can find (and pay for) a little presentation and atmosphere closer to Uptown.

SOLE RESTAURANT & WINE BAR Solé specializes in contemporary North American favourites with a Mediterranean (mainly Italian) influence. Open seven days a week; reservations recommended on weekends.

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* Prices inclusive of current promotion. Promotion not applicable to exclusions or substitutions. Not valid with any other promotion. Promotion available for the first six single new home contracts. Restrictions apply. Visit sales office for details. Offer & Specifications subject to change without notice. E.&.O.E.

TRENDING

CANADA’S REAL ESTATE SECTOR REMAINS RESILIENT While the Canadian real estate industry is still performing well, rebalancing portfolios, rethinking real estate and reinventing with technology will be the key to future success, according to the 2018 Emerging Trends in Real Estate report by PwC Canada and the Urban Land Institute (ULI).

“Our national and local economies are greatly impacted by the real estate sector, and therefore a healthy industry is good for Canada. Affordability concerns continue to be the major theme we are hearing in the residential markets in cities such as Vancouver and the GTA, but there are no really good answers to this issue on the horizon,” says Frank Magliocco, national real estate leader, PwC Canada.

“Rebalancing, rethinking and reinventing real estate in an increasingly challenging environment is critical to be successful today, and those that are able to move quickly and leverage strategic partners will be the real winners.”

In terms of affordability, the report noted that high prices are driving people to smaller cities in search of less costly housing options. These new communities

are developing as governments are increasing their investments in transit hubs, connecting smaller cities and suburbs to urban centres.

The report also noted that more than one in three Canadians between the ages of 20 and 34 are living with at least one parent. Higher prices are spurring growth in multigenerational households in markets such as Toronto and Vancouver. As a result, developers are now focusing on building larger condos and adapting homes that can accommodate the various needs of this type of consumer.

The report states that data and technology are significantly impacting the real estate industry for all stakeholders including consumers, investors and developers. More than U.S.$2.9 billion is projected to be invested in real estate technology globally.

Some notable advances include consumers viewing properties using 3-D virtual tours, investors using data analytics to find better deals, and developers conceiving entire communities and parks based on new digital design technology.

TOP FIVE CANADIAN MARKETS TO WATCH IN 2018 VANCOUVER: Has the highest investor demand and redevelopment opportunities in Canada. However, regional developers and investors anticipate those opportunities will be more conservative in 2018 due to the impact of policy changes and interest rate hikes.

TORONTO: Demand will remain high for the best assets, as institutional capital and other investors continue to seek stable long-term opportunities. But these same investors will be careful about their decisions as they seek yield either in development or elsewhere in the world.

MONTREAL: Many institutional players have begun divesting older stock properties to focus on new developments aimed at attracting Millennial and seniors’ markets. This is placing some pressure on owners of older buildings to compete and contributing to a growing divergence between new and old.

OTTAWA: The relative affordability of this market is luring people to the city from other geographic areas, particularly high-priced Toronto. Technology companies are expanding or moving into this market as well, eager to capitalize on the influx of talent – and doing their best to attract more talent to the city.

WINNIPEG: Though there’s still weakness in the residential sector, it’s offset by an abundance of non-

residential activity. For example, the $467-million Southwest Transitway, which will link the University of Manitoba to the downtown, and the $400-million True North Square, a four-tower mixed-use project in the downtown core.

92 NextHome.ca NextHome.ca | SWO

Now Open inWaterdown

WAT E R D O W N

TOWNS

SEMIS

FROM

FROM

$658,900*

$698,900*

SINGLES FROM

$888,900*

LIFE WITH A NEW VIEW BRANT ST.

MILL ST. DUNDAS ST. E. WATERDOWN RD.

HIGHWAY 6

PARKSIDE DR.

SITE

407

PRESENTATION CENTRE

403

QEW

PRESENTATION CENTRE LOCATED IN WATERDOWN

501 DUNDAS STREET EAST

BLOCK 210 • HIGHGROVE

PRESENTATION CENTRE HOURS: MONDAY - THURSDAY: 1PM - 8PM FRIDAY: CLOSED • SATURDAY, SUNDAY & HOLIDAYS: 11AM - 6PM

ASCOT 1 & 2 • ELEV. 1

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

Duis aute irure dolor in reprehend.

MOUNTAINVIEWHEIGHTS.CA

*Price and information correct at press time. Map not to scale. E. & O. E.

ROSEWOOD 6 • ELEV. 3

• CE LE BR ATING 25 YE AR S •

HOT PROPERTIES

FIND YOUR NEXT HOME The latest properties in Southwestern Ontario to keep your eye on

9. LIFE

SWO PREVIEW REGISTRATION 1. 140 CALEDONIA By: The Tricar Group City: Stratford Housing type: Four-storey boutique style condominiums tricar.com

2. AQUAZUL By: Homes by DeSantis City: Grimsby Housing type: Condominium suites aquazulcondo.ca

3. AVALON By: Empire Communities City: Caledonia Housing type: Townhomes and detached homes empireavalon.com

By: Losani Homes City: Lincoln Housing type: Single-detached homes losanihomes.com

11. ON THE RIDGE By: Rosehaven Homes & Homes by DeSantis Location: Stoney Creek Housing type: Freehold townhomes liveontheridge.ca

12. ONE TWENTY CONDOMINIUMS By: Mountainview Homes City: Fonthill Housing type: Condominiums mountainview.com

13. PASSAGES ON THE CANAL

By: Losani Homes City: Brantford Housing type: Towns and singles brantwest.com

By: Bayview-Wellington Homes City: Welland Housing type: Luxury freehold townhomes on the Canal mypassages.ca

5. CLAIR MEADOWS

14. SAPPHIRE

By: Gatto Homes City: Guelph Housing type: Towns and singles gattohomesinc.com

By: New Horizon City: Stoney Creek Housing type: Waterfront condominiums sapphirecondos.ca

By: New Horizon City: Brantford Housing type: Townhomes focustowns.ca

7. FOOTHILLS OF WINONA By: DiCenzo Homes City: Winona Housing type: Townhomes, semis and singles dicenzohomes.ca

8. GRANGE HILL POINT

94 NextHome.ca NextHome.ca | SWO

10. LINCOLN ESTATES

4. BRANT WEST

6. FOCUS TOWNS

TELEVISION CITY BY LAMB DEV. CORP.

By: Branthaven Homes City: Winona Housing type: Luxury townhomes branthaven.com

By: Reid’s Heritage Homes City: Guelph Housing type: 1- and 2-bedroom condos reidsheritagehomes.com

15. STEPPING STONES By: Phelps Homes City: Smithville Housing type: Two-storey townhomes phelpshomes.com

16. SUMMERLEA WOODS By: Empire Communities City: Binbrook Housing type: Townhomes and detached homes summerleawoods.com

17. TELEVISION CITY By: Lamb Development Corporation City: Hamilton Housing type: Condominium suites televisioncity.ca

18. THE GATSBY By: New Horizon City: Hamilton Housing type: Condominium suites gatsbycondos.ca

19. THE MCKENZIE By: Losani Homes City: Caledonia Housing type: Towns and singles mckenziecaledonia.ca

20. THE PENINSULA By: Losani Homes City: Paris Housing type: Towns, semis and singles parispeninsula.com

21. TREND LIVING By: New Horizon City: Waterdown Housing type: Modern condo suites trendliving.ca

22. TIFFANY HILL By: Rosehaven Homes & Chiaravalle Developments Location: Ancaster Housing type: Freehold towns, semis and detached homes tiffanyhill.ca

23. VICTORIA ON THE RIVER By: Stonecrest Homes City: London Housing type: Single-family homes stonecresthomes.ca

24. VISTA CONDOS By: VanKleef Development Group City: Hamilton Housing type: Condominium suites vistaoncharlton.ca

25. VISTA RIDGE By: Losani Homes City: Beamsville Housing type: Towns and singles myvistaridge.ca

26. EXPLORE By: Ballantry Homes & Branthaven Homes City: Hamilton Housing type: Townhomes exploretowns.com

27. WILDFLOWERS By: Mattamy Homes City: Kitchener Housing type: Townhomes and 30and 36-ft. detached homes. mattamyhomes.com

+

EXPLORE

NEW OPENINGS 28. AFFINITY CONDOMINIUMS By: Rosehaven Homes Location: Aldershot, Burlington Housing type: Condominium suites affinitycondo.com

MAPS Locate properties using the map on the following page

29. BALDWIN PLACE

34. HAVELOCK CORNERS

By: Tillsonburg Developments City: Tillsonburg Housing type: Detached freehold bungalows baldwinplace.ca

By: Senator Homes City: Woodstock Housing type: New release of 42and 50-ft. singles senatorhomes.com

30. CASTLE ROCK PLACE

35. STATIONWEST

By: Rembrandt Homes City: London Housing type: Condo townhomes rembrandt-homes.ca

By: Adi Developments Location: Burlington Housing type: Three-storey townhomes adidevelopments.com

31. CLAIRITY By: Reid’s Heritage Homes City: Guelph Housing type: One- and two-bedroom condominiums reidsheritagehomes.com

32. ELEMENTS

36. THE ENCLAVES OF UPPER CANADA By: Menkes City: Georgetown Housing type: New release of sngle-detached homes on 40-ft. lots menkes.ca

By: Mountainview Homes City: St. Catharines Housing type: Luxury one- and two-bedroom luxury condos elementscondo.com

37. THE PRESERVE

33. FOX FIELD

38. THE WEST

By: Fusion Homes City: London Housing type: Single-family homes from $482,900 fusionhomes.com

By: Mattamy Homes City: Oakville Housing type: Townhomes mattamyhomes.com

By: Adi Developments Location: Burlington Housing type: Luxury boutique condos adidevelopments.com

BUILDERS IF YOU WOULD LIKE TO INCLUDE YOUR PREVIEW REGISTRATION, NEW RELEASE OR SITE OPENING IN THIS FEATURE, JUST EMAIL THE DETAILS TO WAYNE.KARL@NEXTHOME.CA

NOV 11 - 25, 2017 95

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THE LAST WORD

Q+A WITH CALUM ROSS, WEALTH PLANNER AND MORTGAGE BROKER, THE MORTGAGE MANAGEMENT GROUP, AND AUTHOR

by WAYNE KARL possible. The decision to buy or rent for personal use should be driven primarily by your family needs. If your home equity is your most valuable asset, then you need to re-weight your asset allocation and fire your financial planner. I never see a very wealthy client with personal use real estate as the biggest part of their balance sheet. When I see someone with an expensive home and cottage, and the value outweighing other investment holdings, I immediately worry for their financial well-being as those represent high cost items (even without a mortgage) and can put a lot of strain on household income. Ironically, my wealthy real estate investors as a whole tend to have considerably cheaper principal residences than my other high net worth clients.

oss, m R ner u l a C lan e lth P Wea ortgag M d n r a e Brok

NextHome: In its latest Housing Trends and Affordability Report, Royal Bank says housing affordability in Canada in the second quarter hit the worst level since 1990. How would you advise prospective homebuyers?

Calum Ross: I wouldn’t advise

them any differently than I would have in the past. Predicting interest rates and real estate market conditions in the long run is an impossible task. If you have a longterm hold piece of real estate, don’t be overly concerned with values. As we see interest rates 100 NextHome.ca

NH: After years of historical low

rise, real assets prices (including real estate) tend to go down.

However, most people seem to forget that real estate prices tend to rise quickly, but tend to be very sticky on the way down.

The reality is that a home should be shelter first and I personally don’t view my principal residence as investment. Even in periods of rising real estate values, it is difficult to make a profit with a short-term hold cycle. My advice is always do the math. Understand the theoretical cost benefit of renting versus buying, and then make the most informed decision

rates, the Bank of Canada has raised its overnight rate target twice in recent months. Are the days of low rates over?

CR: Answering this question worries me, as it is astonishing that people have lost a real perspective on historical interest rate realities when they consider current rates as anything other than extremely low.

NH: As mortgage rates rise, who’s

most at risk – homeowners with variable rate mortgages?

CR: Selecting a fixed or variable rate mortgage is not something we suggest you do for a fit today

Interest Rates 8 7 6

per cent

5 4 3 2

Bank Rate

Conventional 1 year mortgage rate

Jan 2017

Jan 2016

Jan 2015

Jan 2014

Jan 2013

Jan 2012

Jan 2011

Jan 2010

Jan 2009

Jan 2008

Jan 2007

Jan 2006

0

Jan 2005

1

Conventional 5 year mortgage rate

Source: Bank of Canada

(or over the next month or so), but something you select as fit for your financial philosophy and long-term objectives. You must be able to weather the good and bad to yield longterm benefits and costs on both sides of the spectrum of choices.

Choosing between a variable and fixed mortgage is easily the most debated mortgage question. There is no clear-cut answer, as it depends on the market at any given time, your risk tolerance and personal financial goals. A variable mortgage is just that – it fluctuates with market interest rates. It might not make sense for someone who would prefer the peace of mind that comes with a fixed mortgage payment.

A variable mortgage would make more sense, however, for someone who is more concerned with freeing up cash flow.

Historically, variable rates have proven less expensive over mortgage terms than fixed rates, but current market conditions may not warrant reflection on the long-term

historical perspective. The spread (difference) between variable and fixed rates is smaller than “normal,” and the consensus amongst economists is that interest rates will continue to rise. What this means to mortgage consumers is that there is not as much of a payoff for taking variable, and the deck predicting rate direction is heavily stacked against you with interest rate futures predicting more rate increase.

NH: You recently said “neither

our government nor Canadian consumers can afford too much of a rate increase too fast – they are both in far too much debt.” That doesn’t sound good for the long term for either party… What’s the solution?

CR: The solution is based on stronger savings rates and a greater aversion for bad debt (debt that is not used for active wealth accumulation). There is just no way that our provincial and federal governments can continue to run deficits without our country meeting a similar

fate to Greece in the long-run.

Respectfully, there wouldn’t even be a remote chance that the Province of Ontario would qualify for even a subprime mortgage… and that should make people pause to think! Make no mistake about it: Our government policies are absolutely putting our country at risk of being unable to borrow money, downgrading our publicsector debts, which would in the long term negatively impact our currency and severely impact the stability of our economy.

When it comes to consumers and consumer debt – the real safety comes from their household balance sheets. While household debts are at all-time highs, so are household net worth levels. In real terms, this means that if put under payment shock from rising interest rates then, while not ideal, they could liquidate assets and retire part or all their debts, which would allow a structural re-shift in payments and thus allow for a full crisis to be averted in most cases.

+FULL Q&A ONLINE nexthome.ca/calum-ross

NOV 11 - 25, 2017 101

INDEX OF ADVERTISERS Andrin Homes - Corporate

50 / 51

Lamb Development Corp. - Televison City

37

27

Ballantry Homes - Corporate

83

Lifetime Developments - Panda

Ballantry Homes - Explore

82

Losani Homes - Lincoln Estates

Bayview Wellington Homes - Alcona Shores

73

Madison Group - Cornell Rouge

Bayview Wellington Homes - Passages

Branthaven Homes - Explore

Camrost - Felcorp - The Foxbar Collection at Blue Diamond

Concert Properties - The KIP 2

Concord Adex - Canada House Condos

Concord Adex - Saisons

Cresford Development Corp. - Corporate

Cresford Development Corp. - YSL

Dunpar Homes - Trafalgar

Edilcan Development Corp. - Valhalla Town Square

86 / 87

82

104 / IBC

39

Madison Group - Frenchman’s Bay

2 / 85

71

42 / 43

Madison Group - Nobu Toronto

15

Mattamy Homes - Vita 2

BC

Menkes Developments Inc. - 365 Church

Insert

Menkes Developments Inc. - 87 Peter

Insert

Menkes Developments Inc. - Fleur

Insert

Menkes Developments Inc. - Harbour Plaza

Insert

Menkes Developments Inc. - The Eglinton Yonge at Heart

Insert

30 / 31

19

IFC

1

55 Mountainview Homes - Lyons Creek

91

Parallax Development Corporation - Royal Q

18

6

Fieldgate Homes - Blue Sky

25

Fieldgate Homes - Cobblestones

25

Fieldgate Homes - Impressions

25

Fieldgate Homes - Richlands

25

Fieldgate Homes - Valleylands

25

Fieldgate Homes - Whitby Meadows

25

Geranium Homes - Allegro

59

Graywood Developments - Peter & Adelaide

47

Pemberton Group - Corporate

Insert

Pemberton Group - GO.2

8/9

Pemberton Group - Social

8/9

Pinnacle International - Perla at Pinnacle Uptown

3

Plaza - Musee

7

Rosehaven Homes - Corporate

53

Spallacci Group - Royal Connaught - Phase II

89

93

Great Gulf - Corporate

4/5

Starlane Home Corporation - Mountainview Heights

Great Gulf - Trafalgar Landing

4/5

The Daniels Corporation - Corporate

Insert

Greenpark - Mountainview Heights

93

The Daniels Corporation - Wesley Tower

49

Homes By Desantis - Myst

13

Treasure Hill Homes - Trendi Towns in Markham

41

102  NextHome.ca

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Visit our website: NOV 11 - 25, 2017 103

FINAL RELEASE OF LUXURY TOWN HOMES ALONG FOXBAR RD.

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