Ottawa New Home + Condo Guide - Jan. 4, 2020

Ottawa January 4-18, 2020

The first and only complete guide to pre-construction homes and condos

SHARPEN your homebuying lens in 2020

INSIDE:

CHEERS, IT’S CLOSING TIME!

CHANGES TO TARION IN EFFECT JAN. 1

STACKED TOWNS & DETACHED HOMES AVAILABLE WITH NEW 32' & 46' MODELS OPEN TO TOUR.

Our latest offering in established Blackstone South includes more amazing Stacked Towns & Detached Homes. Visit Blackstone South today to tour our newest Detached model homes, including the 32' Saratoga and the 46' Percheron.

SALES CENTRE 5505 Fernbank Road 613.836.7437

Enjoy an evening stroll in this family-friendly community. Take a bike ride or a nature hike along a community path, or enjoy time with the kids in one of our parks and playgrounds. A great life awaits you in Blackstone South.

Stacked Townhomes From $304,990 Detached Homes From $549,990

Stacked Townhome, The Foxglove ‘Craftsman', 1,030 Sq.Ft., $304,990 Includes: 3 Stainless Steel Appliances Plus Ceramic Tile in Bathrooms & Laminate Flooring on Main Floor

Stacked Townhome, The Nightshade End 'Transitional', 1,330 Sq.Ft., $331,990 Includes: 3 Stainless Steel Appliances Plus Ceramic Tile in Bathrooms & Laminate Flooring on Main Floor

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32' Detached Home, The Belmont Corner 'Craftsman', 1,952 Sq.Ft., $549,990 Includes: $5,000 at Décor

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46¹ Detached Home, The Percheron ‘Craftsman', 3,314 Sq.Ft., $682,990 Includes: Hardwood Throughout Main Floor Including Kitchen, Hardwood Stairs (1st Floor to 2nd Floor), Granite Countertops & Undermount Sinks in Kitchen & Bathrooms, Upgraded Railing Stain, Pot Light Package, Kitchen Upgrade Package & Kitchen Backsplash

Learn more about Blackstone South at mattamyhomes.com Please visit mattamyhomes.com for Sales Centre & Model Home hours All illustrations are artist’s concept. All dimensions are approximate. Prices, specifications, terms and conditions subject to change without notice. E.&O.E.

WELCOME HOME Now Open in Orléans.

Perhaps you have seen it in your dreams – that picture perfect home, nestled in the ideal place to raise a growing family.

ORLÉANS

We invite you to discover that dream come true, here in Orléans where eQ Homes has just unveiled a beautiful new collection of singles and townhomes.

Learn more at eQProvence.ca Prices and specifications are subject to change without prior notice.

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

SALES CENTRE

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ORLÉANS GATINEAU

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57

55

174

OTTAWA

30

SITE

30

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417

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1375 TRIM ROAD

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Jan. 4 - 18, 2020 | volume 20, issue 01

Contents

chief revenue officer

Jacky Hill Jacky.Hill@nexthome.ca editor-in-chief

susan legge susan.legge@nexthome.ca art director

Tammy leung

Cover Story

editor

marlene eisner contributing editors

sara Duck amanda Pereira media consultant

Julie DeBoer 613.875.6673 julie.deboer@nexthome.ca sales & marketing co-ordinators

Gary Chilvers sarah Khan distribution

distributionteam@nexthome.ca accounting inquiries

accountingteam@nexthome.ca director of Print media

lauren Reid–sachs graPhic designer & assistant manager

14

Looking ahead sharPen your homebuying lens in 2020

alicesa Pullan graPhic designer & Pre-Press coordinator

Hannah Yarkony graPhic designers

sandra Hanak–vujnovic, Johannah lorenzo, mike Terentiev, Kathleen Walker, alice Wu Published by

nexthome.ca advertising call 1.866.532.2588 for advertising rates and information. fax: 1.888.861.5038

adviCe

inspirations

17

24 Blue Period

Home smarts What you need to know when closing the deal

Pantone’s colour of the year: Accent your home with Classic Blue

BY maRnie BenneTT

BY saRa DuCK

20 legally speaking Changes to Tarion came into effect Jan. 1

in every issue

BY maRK lauRiola ll.B & JaYson sCHWaRz ll.m

7

editor’s note

10

#insideottawa

trending

28

industry expert Q&A with Irina Popova, cofounder of Blue Panda Realty BY maRlene eisneR

34 Royal lePage survey Ottawa’s real estate market looks strong in 2020 6 New Home + Condo Guide | Jan. 4–18, 2020

30 new Home & Condo Developments

Circulation highly targeted, free distribution system aimed at real estate buyers using street level boxes and racking. call 1.866.532.2588 to discuss distribution opportunities.

Copyright notice all copyright and other intellectual property rights in the contents hereof are the property of nexthome, and not that of the individual client. the customer has purchased the right of reproduction in nexthome and does not have the right to reproduce the ad or photo in any other place or publication without the previous written consent of nexthome. contents of this publication, in hard copy format as well as online, are covered by copyright law, and offenders will be prosecuted.

Copyright 2020 all rights reserved. reproduction, storage in a retrieval system or transmission, in any form or by any means, whether electronic, mechanical or otherwise, in whole or in part, without prior written permission of nexthome is strictly prohibited.

Terms advertisers, editorial content are not responsible for typographical errors, mistakes or misprints. all prices are correct as of press time. editorial submissions from interested parties will be considered. Please submit to the editor at editorial@nexthome.ca.

EDITOR’S NOTE

NEW YEAR NEW DECADE, NEW HOME

MARLENE EISNER EDITOR New Home + Condo Guide EMAIL: marlene.eisner@nexthome.ca TWITTER: @MarleneEisner

+

Whoosh.

That’s the sound 2019 – and the last decade – made as it zoomed by and dissolved into another jumble of blurred memories. I don’t know about you, but time seems to be moving faster than ever these days, in spite of efforts to ‘live in the moment.’

On the bright side, the end of each year and the start of another one ushers in a whole host of renewed dreams, potential and possibilities.

Dare I say resolutions?

If your New Year’s resolution is to find your next new home, New Home+ Condo Guide is here to help. I am especially proud of this first issue of the year. Working on the theme ‘Sharpen your homebuying lens in 2020’, our goal was to set the bar high to help you look – and find – a new home.

I believe we’ve met our goal. In an effort to help you reach yours, we asked some of Ottawa’s foremost new-home experts one simple question. See what they have to say on page 14.

We hope their collective wisdom helps set you on the right path to a pleasant – and successful – new-home buying journey.

Inspirations: Accent your home with Pantone’s colour of the year: Classic Blue Page 24

+ get social

Interact with us on social media: nexthome

nexthome.ca 7

#Inside InsideOttawa Ottawa

by MARLENE EISNER and JULIE DEBOER

Ottawa

A 360-DEGREE LAUNCH Mattamy Homes had a VIP launch of its 360 Condos in Rockcliffe on Nov. 27, with a public launch on Nov. 30. The VIP event, which featured a two-bedroom Suite B condo model, live music, canapés, cupcakes and a complimentary bar, was such a success, 31 of the 39 units were sold. Only a few remained up for grabs. A new release is scheduled for this month, and we’ll have all the details in our Jan. 18 issue.

10 New Home + Condo Guide | Jan. 4–18, 2020

Holiday cheer & giving back

cepted donations Cardel Homes ac head office and of pyjamas at its locations until at all sales centre items were ted na the Dec. 15. Do l, a local tro Pa a jam Py to given giving kids to d ate initiative dedic security of a the comfort and . The truth is, ep good night’s sle pyjamas to put s ha ild ch ery not ev info, re mo r on at night. Fo om l.c ro at ap jam visit py

The eQ Homes toy driv e, in support of Make-a-W ish Eastern Ontario, took pla ce once again this year, wit h eQ Homes matching every gift toy-for-toy until Dec. 15.

HN Homes in Riverside South collected unwrapped toys for its community’s Toy Mountain Parade, a highlight of the Riverside South Community Association’s toy drive in support of The Salvation Army’s Toy Mountain.

nexthome.ca 11

# InsideOttawa cont’d from pg. 11

A festive night More than 80 members of the Greater Ottawa Home Builders’ Association (GOHBA) had a chance to toast the holiday season Dec. 11 at Dooly’s Ottawa to mix and mingle with fellow members, win great prizes, and fill up on food, beer and pool. To learn more about this home builder association, go to Gohba.ca.

1 1. Jason Burggraaf, executive director of GOHBA, contemplates his next shot 2. New Home + Condo Guide media consultant, Julie DeBoer, (centre) with Spencer (left) and Logan MacPherson (right) of Point3D Commercial Imaging Ltd. 3. Julie DeBoer with GOHBA’s event manager, Erin Bellwood.

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3 12 New Home + Condo Guide | Jan. 4–18, 2020

ING L L E S NOW

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thecharlottecondos.com See salesrepresentative for details.Illustrations are artist’s concept only. E.&O.E.

COVER STORY

A NEW YEAR’S RESOLUTION SHARPEN YOUR HOMEBUYING LENS IN 2020

MARLENE EISNER

The holidays are over. The new year – and a new decade – have been gleefully ushered in.

Now it’s time to get down to brass tacks: Finding the home of your dreams.

14 New Home + Condo Guide | Jan. 4–18, 2020

Ottawa experienced a hot housing market in 2019, and there’s no sign of it cooling down any time soon.

The city’s new-home communities saw more lineups at new lot and condo releases than ever before, with many projects selling out fast.

According to a Royal LePage Market Survey Forecast released in December, the strong Ottawa market will see some price

increases in the single-family and condo sectors (see full story on page 34). While Ottawa is still an affordable city compared to other Canadian locations, rising prices and increased demand will be a reality in the new year.

That’s why now is a great time to start your new-home search, while supply and prices are still homebuyer-friendly.

Nonetheless, regardless of market conditions, it’s never wise

QUESTION:

If you had to give potential new-home buyers one piece of advice for the homebuying market in the new year, what would it be?

GREG GRAHAM, COO of Cardel Homes

IRINA POPOVA, real estate agent and co-owner of Blue Panda Realty

to rush into a large purchase like buying a home, so it’s important to be prepared. Do your due diligence and gather as much expert advice and information as you can.

To get you started, we asked some of Ottawa’s most experienced industry experts a simple question to help make your homebuying journey successful – and enjoyable.

Each answer addresses a different area of importance that adds up to almost everything you’ll need to know to get started.

We hope their collective wisdom brings you closer to the home of your dreams.

My one piece of advice to newhome buyers in 2020 is to get all of your ducks in a row. This means having a solid mortgage pre-approval in place, a reliable lawyer with experience in preconstruction agreements ready to go, and a reputable real estate agent working on your behalf.

Home prices will likely continue to climb in 2020, due to increasing construction costs and low inventory.

It is now more important than ever to make sure that you’re making the right investment and educating yourself about the additional expenses that come with buying a pre-construction home.

I have recently gone through this experience with my own kids.

We started a discussion about homeownership and here are a few of the pieces of advice I gave to them.

First, determine your budget and what you can afford.

Look not only at the cost of a mortgage; you need to consider the down payment, land transfer taxes, legal fees and closing costs. In preparing your budget, you need to look at all the incidental costs – things like moving expenses, appliances, operating expenses and smaller items like shovels, garbage cans and lawnmowers. Lastly, consider living expenses, entertainment, childcare, auto repairs, transit fees, etc.

I suggested to my kids that it’s best to capture all the expenses at the outset to ensure that once they purchase a home, they are not “Mortgage Poor” and have opportunities to live.

Next comes the hard part - determining what type of accommodations you want to live in (single-family, townhome, condo, etc.) versus what you can afford. What features does the … Greg Graham cont’d on pg. 16 nexthome.ca 15

… Greg Graham cont’d from pg. 15

property need to have? Three bedrooms, a garage, or if a condo, a recreation area or pool?

Then determine the location you’d like to live in (proximity to transit, to family, to schools, to work). Examine properties for sale in the selected communities to determine if it meets your budget parameters. There is a saying in the real estate business: ”Drive until you qualify”. This may mean longer commutes, rural living or bedroom community locations.

Do your due diligence and research. Talk to experts (your parents, a lawyer, a Realtor, your banker).

Lastly, be patient. Know what you can afford. Know what is most important to you and your family and stick to your plan. Happy house hunting and good luck.

JASON BURGGRAAF, executive director, Greater Ottawa Home Builders’ Association (GOHBA) Think about the lifestyle you want and the type of home that will provide that for you. This may mean being open to living in another part of the city. We tend to stick close to what we know, but there’s a diverse set of neighbourhoods across Ottawa and they all offer something different. With the focus on better movement throughout the city, you may find your dream home in a new neighbourhood or in a new development in an existing neighbourhood.

16 New Home + Condo Guide | Jan. 4–18, 2020

CHERYL RICE, president, PMA Brethour Realty Group - Ottawa

RAHUL KOCHAR, vice-president, operations, Phoenix Homes

My advice is to buy now and do your homework, Mr. and Ms. Consumer! To anyone considering a new-home purchase in 2020, my advice is to buy now so they can start building equity. High consumer demand, increased construction costs, and longer closing dates are some of the factors that will continue to drive up new-home prices in 2020.

First-time homebuyers especially will want to get their foot in the door at a time when prices will be at their lowest, so buy early.

Ottawa’s new-home market was in a frenzy in 2019, with extraordinary sales. A similar trend is expected for 2020.

Long line-ups of people in front of sales centres have become common and can be stressful for buyers. Once inside, purchase decisions are often made on the spot. New-home buyers – get ready for an active 2020 market.

Scour builder websites, research online forums, analyze floorplans, compare prices, ask about bonuses, drive the sites, get on builder registration lists, select your favourite models, compare quality and standard specifications, and for projects in high demand, arrive early.

I hope you buy the home you love from a builder in your desired community, as you may find yourself living in that home for some time.

Builders have long stressed “urgency” in their marketing to buyers. This has been sage advice for the last decade in Ottawa. The pricing trends have been steady, and there is no levelling-off in sight.

A steady increase in immigration into Ottawa, coupled with a continuing decrease in the supply of construction trades is leading to an aggressive sellers’ market. As a buyer, this means the longer you wait to get into the market, the more you will pay.

I don’t envision Ottawa going through the same scenario as Toronto in this regard though, as the intention of buyers in Ottawa is in fact to take occupancy and live in their homes rather than to use them as vehicles for real estate speculation.

Keep in mind, delivery cycles are much longer than ever before, but this can help offset the risk of increasing prices by locking in at today’s prices.

A home purchase certainly shouldn’t be something that happens under fear of uncertainty, but the trends from the last 10 years in Ottawa tell a compelling story.

ADVICE | HOME SMARTS

CHEERS, IT’S

CLOSING TIME! MARNIE BENNETT

I’ve never thought the term “closing” did justice to that incredible day when buyers finally take possession of their new home. It’s the culmination of months of planning and waiting, and your excitement will be practically at a fever pitch.

Considering this is the day you’re handed the key to your front door, “opening” seems a more appropriate word for it.

Of course, the term actually refers to “closing” the deal.

Technically, it’s the process whereby the title of the property will be transferred to your name, and the mortgage will be transferred from your lender to the builder. These are among the duties of your real estate lawyer, with whom you’ll meet on closing day.

These meetings often take place in the afternoon, and it’s more than likely you have spent the morning doing last-minute packing. While your head is buzzing with all there is to do, you’ll be asked to sign on the dotted line – many times. You’ll be signing mortgage and title documents, each of which will be carefully explained by your lawyer.

Come prepared with personal I.D. and your cheque book, as well as bank drafts or certified cheques to cover various closing costs.

(Your lawyer will have given you specific instructions.) I’ve talked

about additional fees in detail before, but here, briefly, are some fees you may be expected to pay upon closing: Legal fees; school levies; utility connections; Land Transfer Tax (part or all of which may be rebated); and the Tarion Warranty Corporation fee (which is often included in your home’s price, but sometimes paid upon closing). You may have already given funds to your lawyer in trust, in which case you’ll receive an itemized list of the fees paid.

The closing process is slightly more complicated for buyers of new condos, in that there are actually two different closing dates: The occupancy closing date, or “interim closing”, which marks the day that you may move in; and the final closing date, which is the day that the title is officially transferred to you – typically several months after interim closing. This delay occurs because the condo building must be inspected and registered by the municipality before titles can be transferred.

The last piece of official business is the best: Opening your palm to receive your keys from your lawyer or builder’s representative. Jingling never sounded so good.

To receive a FREE copy of a new special report titled “Homebuyers: How to Save Thousands of Dollars When You Buy” email sales@bennettpros.com

Marnie Bennett is the Broker of Record and CEO of Bennett Property Shop Realty, a full premium service real estate brokerage specializing in marketing and selling new and resale homes, condominiums and investment real estate. Marnie is the host a weekly radio show “The Bennett Real Estate and Wealth Show” every Saturday @ 1:00pm on 580 CFRA, a millionaire real estate investor and a wealth management coach. bennettpros.com

+MORE ADVICE ONLINE nexthome.ca/news/advice

nexthome.ca 17

D O W N T O W N

PARLIAMENT STATION

LYON STATION

LIGHT RAIL Luxury urban living above the Lyon LRT Station.

CLARIDGE MOON SALES CENTRE 56 Nepean St 613.218.8536 moon.claridgehomes.com

BYWARD MARKET

RIDEAU STATION

UOTTAWA STATION

TO LUXURY Your new address in Ottawa’s ByWard Market, where everything is local.

CLARIDGE ROYALE SALES CENTRE 244 Rideau St 613.241.3235 royale.claridgehomes.com

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

ADVICE | LEGALLY SPEAKING

A NEW YEAR A NEW TARION?

BY MARK LAURIOLA LL.B., LL.M AND JAYSON SCHWARZ LL.M.

JAYSON SCHWARZ

Pre-construction condominiums can be great investments, either to live in as a principal residence or to rent to someone else and earn income. It may not, however, be all wine and roses.

20 New Home + Condo Guide | Jan. 4–18, 2020

A significant question on everyone’s mind these days is whether the project will be completed.

Recently, two developers cancelled developments in Vaughan because they stated they could not receive satisfactory financing for the projects.

The developers notified the purchasers who signed the Agreements of Purchase and Sale (“Agreement”) that the contract

was being terminated, the project cancelled, and all deposits were returned to the purchasers.

The current Tarion Addendum included in the Agreement allowed for this because a permitted condition to terminate is if the vendor does not acquire satisfactory financing.

For purchasers who made their deal and gave a deposit three years or more before, this was a very unhappy conclusion. They may

“

The Tarion amendments are a significant improvement, but they do not guarantee the unit you have purchased or the project therein, will be completed.

now be shut out from purchasing a new home because of price escalation or as an investment they have missed on a rising market.

There was a lot of press about this and today purchasers are asking, “What rights do I have if the project is cancelled? What happens if the project is not completed?”

We are recommending as we have in the past to research your builder; check the Tarion site and ask the builder a lot of questions.

You are not buying a toaster or a car. You are spending a lot of money. Do your research.

As a result, changes were made to Tarion effective Jan. 1 to allow for more disclosure and transparency for buyers.

Every Agreement signed after Jan. 1 will include a mandatory information sheet (“MIS”) that will outline risks and considerations for prospective buyers. As Tarion

notes: “Common element, vacant land, and leasehold condominiums are excluded from this requirement.” Section 1 of the MIS emphasizes that the project may never be completed, to review the Agreement with a lawyer who is familiar with pre-construction condominium transactions, and that purchasers have a 10-day period to cancel the Agreement per the Condominium Act, 1998.

A major focus of the MIS is the chance that the project may never be completed. In Section 3, the MIS highlights the early termination conditions by the vendor. The vendor can terminate the purchase if: The sales goal set for the project has not been achieved; certain zoning and/or development approvals have not been obtained; and satisfactory financing for the project has not been obtained.

It is a shout-out to a prospective purchaser to review and weigh the risks on a particular project in order to make an educated decision on whether to proceed.

Furthermore, in Section 4 and 5 of the MIS, the vendor represents and warrants that the vendor owns the freehold ownership interest in the property and that the property is free from any registered title restrictions that binds the project that would prevent completion of the project and/or sale of the unit to the purchaser.

Tarion has also made changes to the Ontario Builder Directory.

These changes are now in effect

”

and include information about builder history and condominium projects. Initially, it was difficult for prospective purchasers to be able to search builders and projects.

Now, purchasers can search for different project names, different builders, status of the project, and the number of units in the project. In addition, the changes allow purchasers to search for cancellations of condominium projects and any builders convicted under the Ontario New Home Warranties Plan Act. The Tarion amendments are a significant improvement, but they do not guarantee the unit you have purchased or the project therein, will be completed. The amendments simply highlight the risks more effectively to prospective buyers of pre-construction condominiums. It is important to have your pre-construction agreement reviewed by a lawyer, knowledgeable in this area of law, who can review the agreement in full and provide proper guidance and direction.

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

nexthome.ca 21

LIVE IN OTTAWA’S WEST END! KANATA

STITTSVILLE

Zen Urban Flats NOW RELEASED, Townhomes, Singles, and Townhomes and Singles Bungalows. coming soon!

10 new models NOW OPEN. Sales Centre: 186 Overberg Way 613-219-8746 bridlewood@claridgehomes.com

Sales Centre: 565 Bobolink Ridge 613-617-0001 westwood@claridgehomes.com

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

INSPIRATION |

blue

style file Gurli cushion cover, dark blue. $5. Ikea.ca

PERIOD

For the start of the new decade, Pantone has declared “Classic Blue” as its Colour of the Year for 2020.

by SARA DUCK Stand mixer professional five-plus stand mixer. $630. Kitchenaid.ca

Croc embossed cross-body. $40.

Marshalls.ca

Vinyl couture mascara by Yves Saint Laurent. $41.

Sephora.ca

Indigo-striped ceramic stool. $168.

Anthropologie.com

…cont’d on pg. 26 24 New Home + Condo Guide | Jan. 4–18, 2020

Distinctive by Nature O RLÉANS VILLAge MO D E L HOM E

@ CAIVANSOCIAL

ORLÉANS Village, ORLÉANS | Fox run, RICHMOND VILLAGE | The Ridge, Barrhaven THE CONSERVANCY, BARRHAVEN | CAIVAN.COM

…Blue Period cont’d from pg. 24

Shibori patterned quilt. $60. Homesense.ca

Savary chair in lapis blue. $899. Article.com

Blue modern geometric rug. Starting at $299.

Crateandbarrel.ca

We are living in a time that requires trust and faith. It is the kind of constancy and confidence that is expressed

by PANTONE 19-4052 Classic Blue, a solid and dependable blue hue we can always rely on. Imbued with a deep resonance, Classic Blue provides an anchoring foundation. A boundless blue evocative of the vast and infinite evening sky, Classic Blue encourages us to look beyond the obvious to expand our thinking, challenging us to think more deeply, increase our perspective and open the flow of communication.

– Leatrice Eiseman, executive director of the Pantone Colour Institute

Strimmig Mug, stoneware blue. $4. Ikea.ca

+MORE INSPIRATION ONLINE nexthome.ca/news/inspiration

26 New Home + Condo Guide | Jan. 4–18, 2020

HOLIDAY promotion Buy your condo this week and receive $25k*.

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(Home Buyers’ Plan) Up to $40k* in federal subsidies.

CALL US AT: 613.702.2415 *Subject to change without notice. Conditions apply.

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ASK THE EXPERT

Q+A WITH IRINA POPOVA CO-OWNER OF BLUE PANDA REALTY

by MARLENE EISNER New Home + Condo Guide: Should buyers of a newly constructed home get a home inspection? , ova Pop

Irina Popova: When Irina wner of Co-o Panda you purchase a newly Blue alty constructed home directly Re from the developer, the property is registered under the Tarion Warranty. This warranty protects consumers and acts as a regulator for all builders in Ontario.

It ensures that builders abide by all building codes and quality standards of construction.

An important part of Tarion is the Pre-Delivery Inspection (PDI). This occurs before you take Irina Popova is a real estate agent and cooccupancy and is conducted by a owner of Blue Panda Realty, and has been representative of the developer. specializing in the central Ottawa market since During PDI, the purchaser does a thorough inspection of the home 2013. We asked Irina some questions to help and can choose to have a licensed you on your new-home buying journey. home inspector present (at the buyer’s expense).

Any deficiencies found during the PDI are then addressed by the builder before occupancy. In different. How do you organize of the city you’re looking in. It’s my opinion, to hire an inspector the information to make their job to stay fully informed on or not depends on a few factors: comparisons easy and relevant? upcoming projects, completion The type of property (condo or dates and price differences house?); the experience of the IP: Shopping for a prebetween various developments. If buyer (first-time buyer or an construction property can be you do decide to do all of the leg experienced homeowner?); and time-consuming. Buyers often work yourself, plan to actually visit one’s risk tolerance. have to go to multiple websites the sales centres for every project.

Pro-tip: Ask your Realtor to and sales centres to gather all of Most developers do not have attend the PDI. Most will be the necessary information. complete price lists or occupancy happy to do so and will point out NextHome.ca is a great source dates available on-line. deficiencies you might not have of information on present noticed yourself. developments and is the website NHCG: For anyone looking to I often use for reference. I also buy a new condo, some terms NHCG: There are so many new suggest working with an agent may seem unfamiliar. Could developments out there and that’s experienced in preyou explain some of the more they all seem to offer something construction sales in the areas common ones?

28 New Home + Condo Guide | Jan. 4–18, 2020

IP: There are a couple of fundamental terms that every new-condo buyer needs to be familiar with.

Let’s start with “Condo Fees”.

This is a monthly payment made by every owner of a unit in a condominium. In most buildings, condo fees are calculated based on the size of the unit, so those who own larger properties pay more in condo fees.

Condo fees consist of a few components: Cost to maintain the building day-to-day (cleaning, snow removal, common area utilities, property management fees, amenities, etc.); contribution to the reserve fund (this is essentially a savings account for major repairs or replacements); and unit utilities (in many buildings water and heat are included).

An important thing to keep in mind when buying a preconstruction condo is that the condo fees advertised by the developers are often lower than what they will actually be once the

building is operating. Developers do their best to estimate how much the building will cost to maintain, but in a lot of cases, their estimates are too low and don’t account for changes in regulations, increasing labour costs and many other factors. I strongly suggest budgeting your monthly costs with that in mind and anticipate an increase of the condo fees by 10-15 cents per square foot.

Another important term you need to know when purchasing a preconstruction condo is “Occupancy Fees”. This fee is essentially rent paid to the developer during the period of time between the date of occupancy and the registration date.

The occupancy fee is made up of three parts: Interest on the remaining balance of the purchase price of your condo, municipal taxes for your unit, and the condo fees for your unit. The good news is that a majority of the time, this amounts to less than the actual rent would be for the property.

This period is also known as “interim occupancy”, the date

when you get the keys to the unit and have the legal right to occupy the property, but you do not own it yet. Once the building reaches a certain percentage of occupied units, the developer can start the registration process with the city in order to declare the building status as a condominium. Once the building is registered, you become a homeowner and start paying your mortgage, property taxes and condo fees.

Interim occupancy can last anywhere from a few weeks to over a year, which is why it’s extremely important to be aware of this and budget accordingly.

It’s essential to note that most developers do not allow rentals in the building during interim occupancy. This works against investors, since this could mean months of vacancy and lost income.

Make sure to negotiate with the developer and attain the right to rent your unit, if that’s the reason for your purchase.

nexthome.ca 29

NEW HOME & CONDO DEVELOPMENTS

FIND YOUR NEXT HOME These listings offer a comprehensive overview of new-home and condo developments currently available throughout the Greater Ottawa Area and the Gatineau.

Legend: D = Detached SD = Semi–Detached B = Bungalow TH = Townhome TR = Terrace C = Condo = Highlighted listings are advertised in this issue of New Home + Condo Guide. Please refer to page number for more information.

LOCATION

BUILDER

SITE NAME

PROPERTY TYPE

Almonte

Phoenix Homes

White Tail Ridge 1590 Diamondview Rd., Carp

D

–

Almonte

Neilcorp

Mill Run, Marshall’s Bay Meadows

D

Arnprior

Campanale

Callahan Estates

D

Carleton Place

Brigil

Carleton Crossing 235 King Street

Carleton Place

Cardel

Carleton Place

FROM

CONTACT

PG.

West –

$475’s

2, 3, 36

–

SD

B

TH

–

–

–

SD

TH

–

–

–

–

D

–

–

TH

–

–

$324’s

613-909-5315 brigil.com

Miller’s Crossing 2 Flegg Way

D

–

–

TH

–

–

Inquire

613-253-1959 cardelhomes.com

Longwood Builders

Jackson Ridge

D

–

–

–

–

–

–

Carp

Phoenix Homes

Diamondview Estate 1590 Diamondview Rd., Carp

D

–

B

–

–

–

$490’s

Carp

Mattino Developments

Diamondview Estates

–

–

–

–

–

–

–

Kanata

Cardel

Blackstone 106 Westphalian

D

–

–

TH

–

–

Inquire

613-836-9521 cardelhomes.com

4, 35

Kanata

Mattamy

Blackstone South 5505 Fernbank Road

D

–

–

TH

–

–

$305’s

613-836-7437 mattamyhomes.com

8, 9

Kanata

Minto

Arcadia, Morgan’s Creek

D

–

–

TH

TR

–

–

–

–

Kanata

Metric Homes

Trail View

D

–

–

TH

–

–

–

–

–

Kanata

Richcraft

Bradley Commons 343 Haliburton Heights

D

–

B

TH

–

–

$498’s

613-435-1183 richcraft.com

13

Kanata

Uniform

Richardson Ridge

D

–

–

TH

–

–

–

–

–

Kanata

Urbandale

Bradley Commons

D

–

–

TH

–

–

–

–

–

Richmond

Caivan

Fox Run 6350 Perth Street

D

–

–

–

–

–

Inquire

613-518-2364 caivan.com

25

Richmond

Cardel

Creekside 764 Kirkham Crescent

D

–

–

–

–

–

Inquire

613-444-0440 cardelhomes.com

Richmond

Cedarstone

Kings Creek, Richmond Oaks

D

–

–

–

–

–

–

–

–

Richmond

Metric Homes

Fox Run

D

–

–

–

–

–

–

–

–

Stittsville

Cardel

EdenWylde 106 Westphalian

D

–

–

TH

–

–

Inquire

613-435-5704 cardelhomes.com

Stittsville

Claridge

565 Bobolink Drive Westwood

D

–

B

TH

–

–

$426’s

613-617-0001 claridgehomes.com

Stittsville

eQ Homes

Fernbank Crossing 632 Cope Drive

D

–

B

TH

–

C

$300’s

613-404-8075 eqhomes.ca

30 New Home + Condo Guide | Jan. 4–18, 2020

–

613-461-0277 phoenix.ca

B

–

– –

– 613-461-0277 phoenix.ca –

27 4, 35 – 2, 3 –

4, 35

4, 35 22, 23 5

Legend: D = Detached SD = Semi–Detached B = Bungalow TH = Townhome TR = Terrace C = Condo = Highlighted listings are advertised in this issue of New Home + Condo Guide. Please refer to page number for more information.

LOCATION

BUILDER

SITE NAME

PROPERTY TYPE

FROM

CONTACT

PG.

Stittsville

Phoenix

Fernbank Crossing 332 Haliburton Heights

–

–

–

TH

–

C

$400’s

613-435-7062 phoenixhomes.ca

2, 3, 36

Stittsville

Richcraft

Fernbank Crossing, Westwood 343 Haliburton Heights

D

–

B

–

–

–

$550’s

613-435-1183 richcraft.com

13

Stittsville

Tartan

EdenWylde

D

–

–

TH

–

–

–

–

–

Stittsville

Tamarack

Westwood, Poole Creek Village

D

–

B

TH

–

–

–

–

–

Stittsville

Valecraft

Rathwell Landing

D

–

B

–

–

–

–

–

21

Nepean

Claridge

Stirling Park by appointment only

–

–

–

–

–

C

426

613-224-0330

18, 19

Nepean

–

–

–

–

–

–

–

Central Maple Leaf

The Village at the Schoolyard

West Centretown

Claridge

Icon 485 Preston Street

–

–

–

–

Centretown

Ashcroft

eResidences

–

–

–

–

Centretown

Brad Lamb Realty

SoBa 203 Catherine St.

–

–

–

–

Centretown

Claridge

Claridge Moon

–

–

–

Centretown

Claridge

Claridge Plaza 4 , Claridge Royale 244 Rideau Street

–

–

Centretown

Richcraft

The Bowery 255 Bay Street

–

Centretown

Richcraft

The Charlotte 560 Rideau Street

Centretown

Dream Investment

Lowertown

–

–

–

613-695-1441 claridgehomes.com

18, 19

C

$348

–

–

–

–

–

C

–

–

–

–

–

C

Inquire

613-218-8536 claridgehomes.com

18, 19

–

–

–

C

$577

613-241-3235 claridgehomes.com

18, 19

–

–

–

–

C

346w

613-695-7577 richcraft.com

13

–

–

–

–

–

C

$200’s

thecharlottecondos.com

13

Zibi

–

–

–

–

–

–

–

–

–

Claridge

Waterstreet 316 Bruyere Street

–

–

–

–

–

C

$407

613-241-3235 claridgehomes.com

18, 19

Old Ottawa East

eQ Homes

Greystone Village II 175A Main Street

D

–

–

TH

–

C

Inquire

Old Ottawa East

The Properties Group

129 Main

–

–

–

–

–

–

Old Ottawa East

Uniform

Echo

–

–

–

–

–

Barrhaven

Caivan

The Conservancy , The Ridge #115-4100 Strandherd Drive

D

–

–

TH

Barrhaven

Mattamy

Half Moon Bay 3454 Greenbank Road

D

–

–

Barrhaven

Uniform

Grandview Court

–

–

Barrhaven

Minto

Harmony, Quinn’s Pointe

D

Barrhaven

Glenview Homes

Flagstaff

Findlay Creek

Claridge

Findlay Creek

613-569-3043

5

–

–

–

–

–

–

–

–

–

Inquire

613-518-2364 caivan.com

2, 5

TH

–

C

$279’s

613-825-7932 mattamyhomes.com

8, 9

B

–

–

–

–

–

–

–

–

TH

TR

–

–

–

–

D

–

–

TH

–

–

–

–

36

Sundance 779 Fiddlehead Street

D

–

–

TH

–

–

$309’s

613-425-1332 claridgehomes.com

22, 23

Claridge

Lilythorne 4789 Bank Street

D

–

B

TH

–

–

$407’s

343-961-9106 claridgehomes.com

22, 23

Findlay Creek

eQ Homes

Pathways at Findlay Creek 122 Dun Skipper Road

D

SD

B

–

–

C

$300’s

613-822-7247 eqhomes.ca

Findlay Creek

Phoenix

Pathways at Findlay Creek 114 Dun Skipper Road

D

–

B

TH

–

–

$400’s

613-219-6862 phoenixhomes.ca

South

5 2, 3, 36

nexthome.ca 31

Legend: D = Detached SD = Semi–Detached B = Bungalow TH = Townhome TR = Terrace C = Condo = Highlighted listings are advertised in this issue of New Home + Condo Guide. Please refer to page number for more information.

LOCATION

BUILDER

Findlay Creek

Richcraft

Findlay Creek

Tartan

Findlay Creek

SITE NAME Pathways at Findlay Creek 126 Dun Skipper Road

PROPERTY TYPE

FROM

CONTACT 613-822-9714 $412’s richcraft.com

PG.

D

–

–

TH

–

–

Findlay Creek Village

D

–

B

TH

–

–

–

–

–

Tamarack

Findlay Creek Village

D

–

–

TH

–

–

–

–

–

Findlay Creek

HN Homes

Cowan’s Grove

D

–

–

TH

–

–

–

–

–

Findlay Creek

Urbandale

Cowan’s Grove

D

–

B

TH

–

–

–

–

–

Greely

Phoenix

Shadow Ridge

D

–

B

TH

–

–

Inquire

Greely

Bulat

The Quinn Farm

D

–

B

–

–

–

–

–

–

Greely

Parkview Homes

Lakeland Meadows

D

–

–

–

–

–

–

–

–

Kemptville

eQ Homes

Equinelle 74 eQuinelle Drive

D

SD

–

TH

–

–

$300’s

613-258-6488 eqhomes.ca

5

Manotick

eQ Homes

Riverwalk 78 eQuinelle Drive

–

–

B

–

–

–

$450’s

613-618-3204 eqhomes.ca

5

Manotick

D

–

B

TH

–

–

–

Minto

Mahogany

Riverside South

Claridge

River’s Edge 591 Summerhill Street

D

–

–

TH

–

–

Riverside South

Richcraft

Riverside South 744 Brian Good Ave

D

–

–

TH

–

Riverside South

HN Homes

Riverside South

D

–

–

TH

Riverside South

Urbandale

Riverside South

D

–

–

Riverside South

Urbandale

Jazz Condos, Allora Condos

–

–

ClarenceRockland

eQ Homes

Clarence Crossing 235 L’etang Street

D

ClarenceRockland

Longwood Builders

Morris Village

ClarenceRockland

CH Clement Construction

Embrun

613-823-9227 phoenixhomes.ca

13

2, 3, 36

–

–

$475’s

343-961-9202 claridghomes.com

22, 23

–

$540’s

613-491-0834 richcraft.com

13

–

–

–

–

–

TH

–

–

–

–

–

–

–

–

–

–

–

–

–

B

TH

–

C

$290’s

613-862-0167 eqhomes.com

5

D

–

B

–

–

–

–

–

–

Morris Village

–

–

–

TH

–

–

–

–

–

Devcore

Fauberge Ste–Marie

–

–

–

–

–

–

–

–

–

Embrun

Melanie Construction

Ste–Marie Hamlet

D

–

–

–

–

–

–

–

–

Embrun

SACA Homes

Place St. Thomas

D

SD

–

TH

–

–

–

–

–

Orleans

Ashcroft

Eastboro

D

–

TH

–

–

–

–

–

Orleans

Brigil

Petrie’s Landing 8865 Jean d’Arc Blvd.

–

–

–

–

–

C

Inquire

613-706-4262 brigil.com

27

Orleans

Caivan

Orleans Village 3490 Innes Road

D

–

B

TH

–

–

Inquire

613-518-2364 caivan.com

25

Orleans

Claridge

Spring Valley Trails 247 Joshua Street

D

–

–

TH

–

–

$300’s

613-841-0560 claridgehomes.com

22, 23

Orleans

eQ Homes

Provence 1375 Trim Road

D

–

–

TH

–

–

$450’s

613-355-7863 eqhomes.ca

Orleans

eQ Homes

Provence 1 375 Trim Road

D

–

B

TH

–

–

Inquire

613-355-7863 eqhomes.ca

–

Orleans

Minto

Avalon Encore

D

–

–

TH

–

–

–

–

–

East

32 New Home + Condo Guide | Jan. 4–18, 2020

5

Legend: D = Detached SD = Semi–Detached B = Bungalow TH = Townhome TR = Terrace C = Condo = Highlighted listings are advertised in this issue of New Home + Condo Guide. Please refer to page number for more information.

LOCATION

BUILDER

SITE NAME Trails Edge, Axis Court 203 Shinleaf Crescent

PROPERTY TYPE

Orleans

Richcraft

Orleans

Mattamy

Summerside South 2496 Tenth Line Road

D

Orleans

Tamarack

Cardinal Creek

D

Ottawa East

Mattamy

Wateridge Village at Rockliffe 895 Montreal Road

–

–

–

TH

–

–

$299’s

Ottawa East

Uniform

Wateridge Village at Rockliffe

–

–

–

TH

–

–

–

–

–

Russell

Corvinelli Homes

Russell Trails

D

–

–

–

–

–

–

–

–

Russell

Melanie Construction

Sunset Flats

D

–

–

–

–

–

–

–

–

Russell

Tartan Homes

Russell Trails

D

SD

B

–

–

–

–

–

–

Gatineau

Brigil

Plateau du Parc 534 boul. Des Grives

D

–

B

–

–

–

Inquire

819-776-4663 brigil.com

27

Gatineau

Brigil

Plateau Symmes 895-3 boul. Du Plateau

D

–

B

TH

–

–

Inquire

819-571-4663 brigil.com

27

Gatineau

Brigil

Domaine du Vieux–Port 1400 St-Joseph Blvd

D

–

–

–

–

–

Inquire

819-777-4663 brigil.com

27

Gatineau

Brigil

Le Columbia 376 St. Joseph Blvd.

–

–

–

–

–

C

Inquire

613-454-1578 brigil.com

–

Gatineau

Groupe Heafey Group

NIU 2

–

–

–

–

–

–

–

–

–

Chelsea

Hendrick

Hendrick Farm

D

–

–

TH

–

–

–

–

Richcraft

La Croisee Aylmer 137 Rue du Golf

–

819-682-7000 richcraft.com

13

D

–

–

FROM TH

–

–

TH SD

B

–

CONTACT 613-424-6600 $260’s richcraft.com $390’s

–

–

–

613-837-5056 mattamyhomes.com – 613-421-7127 mattamy.com

PG. 13 8, 9 – 8, 9

North

Gatineau

D

–

–

–

–

Inquire

Start your search Your trusted authority for the latest new home and condo developments. Visit nexthome.ca to get started.

nexthome.ca 33

TrenDing/markeT news

looking strong in 2020 If you’re in the market for a new home, now is a good time to start looking, as a new industry forecast says the new year will ring in higher home prices.

The Royal LePage Market Survey Forecast, released in December 2019, revealed that by the end of 2020, Canadian resale and new-build home prices in the condominium and detached home segments are expected to see a healthy appreciation.

DemanD Drivers

The positive outlook is based on healthy buyer demand. A segment of potential homeowners who put home purchasing on hold in January 2018 due to the mortgage stress test, started returning to the market in the second half of 2019, driving competition and demand.

Another significant driver in demand is immigration. According to the Royal LePage Newcomer Survey released in October 2019, newcomers are expected to purchase one in every five homes on the market over the next five years. Newcomers have high consumer confidence in Canadian real estate (86 per cent) and arrive with savings to put towards the purchase of a home (75 per cent).

Peak millennials

Most of Canada is seeing a shift in demand from condominiums to detached houses as peak Millennials, (between the ages of 26 and 32) seek houses to accommodate growing families.

Comparing the national median price of a condominium at the end 34 New Home + Condo Guide | Jan. 4–18, 2020

of 2019 with 2014, the price has increased 48 per cent. Millennials are now looking for more space and a yard. The resulting demand will put upward price pressure on detached homes. However, condominiums will remain in demand in regions where affordability restricts the choice of housing types.

“The oldest peak Millennials are now in their 30s,” said Phil Soper, president and CEO of Royal LePage in a press release. “This huge wave of Canadian consumers has been transforming Canadian real estate for a decade, putting more focus and upward price pressure on our condominium housing stock. … We predict that the period of disproportionately higher price appreciation in the condo segment is drawing to a close as interest in detached homes is reborn.”

The aggregate price of a home in Ottawa is forecast to increase 4.5 per cent year-over-year to $516,200, crossing the halfmillion-dollar mark. During the same period, the median price of a condominium is expected to

increase 3.5 per cent year-overyear to $341,300, and the median price for a two-storey detached home is forecast to rise 5.0 per cent year-over-year to $547,600.

Government stability and sustained growth in the high-tech sector will continue to benefit Ottawa’s real estate market.

“Ottawa continues to be an affordable city with great jobs,” says Kent Browne, broker and owner at Royal LePage TEAM Realty.

“Inventory is tight and there are few rental units available, which puts pressure on the overall real estate market.”

Browne added that Ottawa is seeing a lot of condominium construction, including a new 45-storey condominium, the tallest in the city. “Without more supply, we can expect to see home prices continue to appreciate in midsingle digits,” said Browne.

“The federal government’s FirstTime Buyer Incentive would have benefited more people just a few years ago. In 2020, a typical home will sell for more than $500,000, which is the program’s cap.”