Southwestern Ontario New Home and Condo Guide - Feb 1, 2014

Feb 01 - 15, 2014 Volume 17 Issue 2

COMMUNITY

WITH MORE

Forest Park Homes offers more selection, more space, and more savings in Fonthill.

Affordably priced Village Townes and Singles.

MODEL NOW OPEN INSIDE THIS ISSUE

OAKVILLE-BURLINGTON: LIVEABLE & PROSPEROUS

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6 THINGS YOU NEED TO KNOW ABOUT BUYING A NEW HOME

THE RISKS AND REWARDS OF REAL ESTATE INVESTING

1/29/14 3:24 PM

Your builder of choice NIAGARA

TRUE Freehold Townhomes from

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IT’S A WOND

TRUE Freehold Park Townhomes from

209,990

219,990

$

$

36’ Detached from

30' Detached from

279,990

239,990

$

$

44' Detached from

46' Detached from

309,990

359,990

$

$

McLeod Rd. & Kalar Rd., NIAGARA 905.354.1710

READY TO LIVE HOMES

BRANTFORD

Towns from

224,990

259,990

$

$

TRUE Freehold Towns from

3

30’ Detached from

254,990

224,990

$

$

3

44' Detached from

36’ Detached from

331,990

296,990

$

$

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309 Blackburn Dr., BRANTFORD 519.756.4554

3 Binhaven Blvd., BINBR OPEN 7 DAYS A WEEK:

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1/29/14 2:50 PM

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2013 WAS AN AMAZING YEAR. We sold more homes in more communities for families like yours, than anyone else in Southern Ontario. We believe in building each home as if it were our only one and giving each family the personal care they deserve. Today's the day to discover why hundreds of families have chosen Empire as their builder of choice.

A WONDERFUL LIFE. COME EXPERIENCE THE MAGIC.

READY TO LIVE HOMES Detached from

289,990

$

TRUE Freehold 2-Storey Towns from

30' Detached from

286,990

$

289,990

$

36' Detached from

326,990

$

34' Detached from

371,990

$

44' Detached from

376,990

$

TRUE Freehold Towns from

296,990

$

42' Detached from

503,990

$

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EMPIRE IS ENERGY STAR PLUS!

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22 Green Mountain Rd. W., STONEY CREEK 905.930.7934

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Blvd., BINBROOK 905.692.6000

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ONLY A FEW TOWNS REMAIN DON’T MISS OUT!

STONEY CREEK

EMPIRE IS ENERGY STAR PLUS!

Prices, sizes and specifications are subject to change without notice. *Please see Sales for full details, the Easy Buy ™ Program is not available at Imagine. E. & O.E. Map not to scale. Exclusive listing brokerage: TFN Realty Inc. Broker Protected.

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mattamyhomes.com

Come And See The Wildflowers At Our Brand New Sales Centre Location Just Around The Corner.

Large Open Kitchen/Family Room Area.

Our Sales Centre is now in its brand new location and we are open with a great selection of Detached Homes from a very affordable $298,990.

Right now you’ll also find a special package of upgrades on our 30' and 36' Detached Homes.

We’ll include granite kitchen countertops and hardwood on the main floor.

Come visit us today in our new location and pick your dream home in Wildflowers in Kitchener.

36' Home, The Sandcherry, Elev. ‘B’, 2,283 Sq.Ft., $386,990

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30' Home, The Plume, Elev. ‘A’, 1,880 Sq.Ft., $333,990

Presentation Centre Hours: Monday to Thursday 1pm-8pm; Friday 1pm-6pm; Saturday, Sunday and Holidays 11am-6pm Follow us: 6

All illustrations are artist’s concept. All dimensions are approximate. Prices, specifications, terms and conditions subject to change without notice. E.&O.E.

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NOW’SYOURCHANCE!

from the mid

200s

$

CountryGreenHomes.com | 905-690-7600

CENTRE RD.

Come see for yourself how big city convenience can nestle perfectly with small town charm, only in Waterdown.

WATERDOWN

PARKSIDE DR.

6 DUNDAS ST.

403

HAMILTON ST.

New release of freehold three storey urban towns that will suit your lifestyle.

407 QEW

Monday to Wednesday 2-7pm Thursday/Friday by Appointment Saturday & Sunday 11-4pm FEBRUARY 1 - 15, 2014 | NEW HOME & CONDO GUIDE SWO 7

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contents p. 14

feb 1 - 15, 2014 || volume 17 issue 2

on the cover

forest park homes

Newest model at The Village Landing showcases small town living in Fonthill

16

regular and special features in every issue 10 Editor’s Note 71 Hot Dates 76 Ad Index columnists 36 HHHBA Report

Hamilton housing market to remain stable in 2014

by Mathieu Langelier

38 Expert Advice

6 things you need to know about buying a new home

homebuyers’ help 46 City focus

Oakville & Burlington: liveable and prosperous

by Wayne Karl

54 Book Review

The real risks and rewards of real estate investing

by Susan Legge

63 Expert Advice

Spend versus save

22

by Sara Duck

67 homebuyers’ resources

Mortgage Calculator & Rate Table

by Karen Kessel

50 Make Your Move

Blizzards, black ice and moving

by Chuck Resnick

77 Fundamentally Speaking When and how to plan your financial future?

by Wayne Karl

in the news 20 Mortgages

Group promotes national approach to helping consumers understand

26 The Augustine Group

Port Place’s Chateau in the Sky offers million-dollar views

53 Economy

Canada to benefit from stronger U.S. economy in 2014

58 Finances

Paying down debt top priority for Canadians in 2014: CIBC

community focus features 16 Collingwood

Brandy Lane Homes Wyldewood Cove offers affordable four-seasons living in Collingwood

22 Fergus

Reid’s Heritage Homes Westminster Highlands introduces affordable condo living in Fergus

32 Oakville

Menkes Developments & Fernbrook Homes Millstone on the Park – Oakville’s finest urban towns with rooftop terraces

42 Ancaster

Losani Homes Losani Homes set to launch two exclusive new projects in Ancaster

New Home Watch

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42

17 Waterloo 27 Hamilton 56 London

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their style.

your style.!

EXPERIENCE THE JOY of walking into a sparkling, new home designed just for you!

At Mountainview, you can have the new home you always dreamed of - YOUR STYLE, YOUR WAY!

for a limited time

YOUR MOVE IS ON US!

We’ll do the moving and take care of your closing costs.

Think of it as our housewarming gift to you!

www.mountainview.com

905.323.6233

Offer & Specification subject to change without notice. E.&.O.E. Not valid with any other promotion. Restrictions apply, visit sales office for details. Moving Costs up to $2,000. Closing costs up to $3,000Tarion, Hydro and/or legal fees.

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//EDITOR’S NOTE

Buying made easy Three simple steps to success

S

hopping for a home online is a great way to narrow your search, but there’s nothing like visiting the sites, models and sales offices to get down to the nittygritty. Before you venture out, here are some pointers: First, be clear about what you want and expect in a new home and in your builder.

Remember, the range of prices in the new-home market generally reflects differences in location, features and home styles. There’s no magic involved. If a builder’s pricing seems out of whack with others in the area, ask for an explanation. Higher prices could mean better quality materials, finishings, features and service. Make sure that the price you are paying will deliver the quality you want.

Second, understand exactly what is included with the home you are buying and what is optional. Ask the sales representative to show you samples, and request a “spec” sheet that clearly lists what is included, as well as any upgrade options.

Third, evaluate any promises that have been made during your visit. Is the builder prepared to put them in writing? Hearsay comments should not be included as part of your evaluation process. Sit down with your sales representative, ask questions and discuss your Agreement of Purchase and Sale in detail – then take it to a lawyer before it’s finalized.

VICE-PRESIDENT, WALL2WALL MEDIA

Jacqueline Hill

DIRECTOR OF SALES, NATIONAL

Josh Heppner

ASSOCIATE PUBLISHER

Susan Maxwell EDITOR-IN-CHIEF / DIRECTOR OF CONTENT

Susan Legge ART DIRECTOR

Daiana Garay EDITOR

Wayne Karl CONTRIBUTING EDITORS

Sara Duck Elisa Krovblit Lydia McNutt

DISTRIBUTION & SALES CO-ORDINATOR

Jennifer Bistron

ADMINISTRATIVE ASSISTANT

Antoinette Jackson MANAGER OF PRODUCTION

Bala Gnanapandithan CO-ORDINATOR

SUSAN LEGGE

EDITOR-IN-CHIEF Wall2Wall Media Susan.Legge@wall2wallmedia.com Follow me on Twitter at Twitter.com/SusanLegge Like us on Facebook. Search: New Home Guide

Tax time – embrace it Preparing for this unsavoury topic earlier helps reduce the sting at deadline time

I

t’s February already – a period we often associate with blahs, but also a month worth celebrating, given that it’s the shortest of the year, and March and spring soon follow. And while the deadline for 2013 Registered Retirement Savings Plan contributions isn’t until March 3, and April 30 for filing your 2013 income tax return, perhaps we need to start thinking of February in a different light altogether.

Indeed, in our two February issues is our Tax Time Tips content; the idea is to explore this topic in advance of filing deadlines, to help readers learn about opportunities to take advantage of while they still can.

But, heeding the advice of experts, perhaps “tax time” should instead be a year-round task. From making regular RRSP contributions to comparing RRSPs and tax-free savings accounts to learning of the various credits available, tax planning for some is as necessary as the inevitable taxes themselves.

Preparing as best you can throughout the year might help minimize the sting come deadline time – and help you learn to embrace the opportunities to save, not just fear what you have to pay.

WAYNE KARL

EDITOR Wall2Wall Media Wayne.Karl@wall2wallmedia.com Follow me on Twitter at Twitter.com/WayneKarl Like us on Facebook. Search: New Home Guide

Laura Northmore GRAPHIC DESIGNER

Viosa Barileva CONTRIBUTING WRITERS

Joanne Keenan Jeffrey Reed

Published By

#500-401 The West Mall Etobicoke, ON M9C 5J5 T 416.626.4200 F 416.784.5867

newhomeandcondoguide.com

Call Susan Maxwell at 416.580.1654 FAX: 416.784.9554 Toll Free: 1.877.269.8257, follow prompts, ext. 4260; e-mail: susan.maxwell@wall2wallmedia.com Office hours are Mon-Thurs. 9-5; Fri. 9-12

ADVERTISING:

Free distribution. Published bi-weekly from Sept.-Nov. & from Feb.-June and monthly in June, July & Dec.

CIRCULATION:

TERMS: Advertisers, Editorials and New Home & Condo Guide are not responsible for typographical errors, mistakes or misprints. All prices are correct as of press time and are subject to change without notice. E. & O. E. EDITORIAL: Submissions from interested parties will be considered. Please submit to the address above, to the attention of the Editor.

All rights reserved by New Home & Condo Guide, Toronto, Ontario.

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.

Wall2Wall Media is a trademark of Yellow Pages Group Co. in Canada.

COPYRIGHT 2014:

Please recycle this magazine! Wall2Wall Media participates in the Partners in Growth Reforestation Program through St. Joseph Communications. To date, Partners in Growth has planted over 2.5 million trees in parks, recreation and conservation areas, and other public spaces across Canada. Established in 1990, this program was started with Scouts Canada to help replenish the environment.

10 NEW HOME & CONDO GUIDE SWO | FEBRUARY 1 - 15, 2014

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INVENTORY HOME SALE THE PERFECT TIME TO BUY! SAVE THOUSANDS on stunning detached and townhomes in historic Beamsville! These deals will not last...ACT NOW!

Lot #

Model

Sq.ft.

Included Extras

Sale Price

Closing

1,530

$12,700

$285,900

Summer 2014

TOWNHOMES Lot 54

Beamsville

1,530

$279,900

$6,700

BU

LAKE ONTARIO

RL

Summer 2014

IN

GT ON

BEAMSVILLE

SK YW AY HAMILTON

EXIT

64 QEW

From GTA

From Niagara

$274,900

Summer 2014

Lot 75

Beamsville

1,530

$6,700

$274,900

Summer 2014

Lot 94

Beamsville

1,530

$6,700

$279,900

Summer 2014

IMPORTANT: Take Ontario St. (Hwy #18)/Beamsville Exit #64 (From GTA Do Not Take Ontario St./Grimsby exit)

Lot 95

Beamsville

1,530

$6,700

$279,900

Summer 2014

Lot 20

Fairgrounds

1,825

$14,265

$334,500

Summer 2014

Lot 21

Park

2,208

$13,120

$350,850

Summer 2014

W PK D

HI

LL

N

STONEY CREEK

BARTON ST.

GRIMSBY

BEAMSVILLE SALES CENTRE

ONTARIO ST.

DETACHED

Y.

$6,700

SERENA DR. KIN G ST.

ONTARIO ST.

1,530

FIFTY RD.

Beamsville

CENTENNIAL PKWY.

Lot 74

RE

Lot 55

Beamsville

MAY ST.

DOWNTOWN BEAMSVILLE

(289) 566-8889 Sales Office Hours: Monday - Thursday 1pm - 6pm, Saturday & Sunday: 12 Noon - 5pm.

PLUS! SPECTACULAR DEALS IN THESE OTHER GREAT DESANTIS COMMUNITIES! ANCASTER

Lot # Model DETACHED Lot 7 Pearl A Lot 77 Pearl A

Sq.ft.

Included Extras

Sale Price

Closing

2,504 2,504

$84,368 $49,060

$584,900 $518,960

Immediate Immediate TIFFANY COMMUNITY

Spectacular single family homes with distinctive designs and a true community feel.

CALL MAUREEN SMITH Sales Representative, (416) 736-6500 Home Address: Lot 77 - 64 Grandell Dr. & Lot 7 – 256 Raymond Rd., Ancaster, Ontario

Sale Price

Closing

$309,900

Immediate

OASIS COMMUNITY

Model Sq.ft. Included Extras SEMI- DETACHED BUNGALOWS Lot 71L Dorset 1,512 $7,212 Lot 81R Brant 1,148 $6,305

$269,900 $249,900

Immediate Immediate

Exceptionally designed semi-detached homes in the charming village of Chippawa

FIFTY RD.

FRUITLAND RD.

CENTENNIAL PKWY.

TO N L IN G

Closing

QEW RK WAY

GE

IL L PA

ID

BUR

Sale Price

N

NORTH SERVICE RD.

QEW

BARTON ST. E

RE D H

BR

T

AY

S T.

CALL Sandra Veselisin & Billie Ventresca Sales Representatives Bus: (905) 945-1234 Toll Free: 1-888-205-7010, Home Address: Unit 43, 5 Serena Cres., Stoney Creek

YW

Freehold bunglows in this affordable lakeside community.

NIAGARA FALLS Lot #

LAKE ONTARIO

SK

Lot # Model Sq.ft. Included Extras TOWNHOME BUNGALOW Lot 43 Oasis 1,163 $8,665

EAS

STONEY CREEK

SALES CENTRE

(289) 296-4258 Sales Office Hours: Monday - Wednesday 2pm - 7pm, Saturday & Sunday: 12 Noon - 5pm.

For more information on these exceptional communities visit

www.homesbydesantis.com • See sales representative for complete details. Prices subject to change without notice. E. & O.E.

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TACTTACT

Revision: No.

Date

Revision:

Revision

No.

Date

Revision

DRAFTDRAFT

TACT Architecture Inc. 660R College Street [rear lane] Toronto Ontario M6G 1B8 416-516-1949 info@tactdesign.ca

TACT Architecture Inc. 660R College Street [rear lane] Toronto Ontario M6G 1B8 416-516-1949 info@tactdesign.ca

Note: This drawing and all copyright thereinNote: This drawing and all copyright therein are the sole and exclusive property of TACTare the sole and exclusive property of TACT Architecture Inc. Reproduction or use of thisArchitecture Inc. Reproduction or use of this drawing in whole or in part by any means or indrawing in whole or in part by any means or in any way whatsoever without the prior writtenany way whatsoever without the prior written consent of TACT Architecture is strictlyconsent of TACT Architecture is strictly prohibited. Do not scale this drawing. prohibited. Do not scale this drawing. ďŹ le: 1311 457 Plains Road East v6.0.pln

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job title

job title

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457 Plains Road East

457 Plains Road East

Branthaven Development Corp.

Views

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issue date

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issue date

Tuesday, 19 November, 2013Tuesday, 19 November, 2013 scale

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job number

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//cover story

Newest

Forest Park model Showcases small town living in Fonthill

Location Fonthill Housing Type Freehold towns from $249,900 and singles from $349,900 Sales Centre 1526 Haist St., open 2 to 7 p.m. Tuesday to Thursday, and noon to 5 p.m. weekends Contact 289.897.8751 thevillagelanding.com

F

orest Park Homes has established itself as a home builder with a forte for creating communities within communities in the small towns of southern Ontario such as Ayr, Waterloo, Woodstock, Stratford and now Fonthill.

With award-winning style on its side, Forest Park opens the first of two model homes in its newest community of The Village Landing. Located on Haist Street in the heart of the quiet town of Fonthill, you’ve now discovered this delightful piece of the Niagara countryside. This is where you’ll enjoy the simplicity of walking the kids to school and the challenge of playing 18 holes on top-ranked golf courses. Lush greenspace and pristine hiking trails cater to both your sense of adventure and your love of solitude. The convenience of having all this – and every amenity – close at hand will be yours at The Village Landing.

Visitors will soon learn that they’re just minutes to St. Catharines and Niagara Falls and all of the region’s most popular points in between, such as The Wine Route, Shaw Festival and casinos. Airports in Buffalo, Hamilton and Toronto are within an hour’s drive.

14 New home & condo guide SWO | february 1 - 15, 2014

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FOREST PARK HOMES | The Village Landing

You’ll discover innovative designs made popular within other communities, such as the three or fourbedroom Beaujolais (re-christened the Kinsale for Fonthill, one of the models now open) from Hilltop Estates in Ayr.

The first model home, the Kinsale, is now open for viewing, with a second one opening in April. This allows visitors to view the quality, style and design found within a Forest Park home. Hours for viewing are 2 to 7 p.m. Tuesday to Thursday, and noon to 5 p.m. weekends.

The Village Landing showcases two collections of singles of 1,615 to 3,575 sq. ft. designed for 40- and 50-ft. lots. You’ll discover innovative designs made popular within other communities, such as the three or four-bedroom Beaujolais (re-christened the Kinsale for Fonthill, one of the models now open) from Hilltop Estates in Ayr. It was named 2010’s Best New Home Design and 2013’s Best Single Family Design by the Waterloo Homebuilders’ Association.

You’ll see why when you view its second-level family room, luxury ensuite, open concept main floor kitchen, dining area and living room, main level laundry, double-car garage and specialty features such as coffered ceilings, fireplaces and covered back terrace. This was also part of Forest Park’s award-winning 2010 Project of the Year.

The freehold townhomes are equally impressive, with expansive widths of 26 ft. leading to interiors of 1,431 to 1,857 sq. ft., spaciousness seldom seen in townhome design.

Available in two-storey, bungalow and bungaloft designs, they offer a gamut of lifestyle options in a town where quality of life is the quintessential feature. In the near future, construction will begin on a row of townhome models to showcase another aspect of Village Landing living.

With prices starting at $249,900 for townhomes and $319,900 for singles, Forest Park offers entry level pricing to Fonthill living. Plus, for a limited time, homebuyers will receive up to $12,000 in luxury enhancements to personalize their homes. These are baseline prices that include this builder’s extensive list of standard features while still offering a handsome selection of upgrades to enhance each home to every family’s needs and tastes.

Life. Style. Choices. All are available at The Village Landing in Fonthill.

For more information, call 289.897.8751 or visit thevillagelanding.com february 1 - 15, 2014 | New home & condo guide SWO 15

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//community focus

BRANDY LANE HOMES | Wyldewood Cove

The Wyldewood Cove skating rink transforms into a landscape feature in summer

Wyldewood Cove offers affordable four-season living

A

vid skiers and snowboarders look forward to this time of year, and Blue Mountain is an ideal destination for Southern Ontario residents wishing to frequent the slopes. For those seeking a value-packed resort-style condominium that will mean less road time in the future, Brandy Lane Homes can help achieve that dream.

Register now for the Winter Grand Opening of Wyldewood Cove – Brandy Lane’s newest Collingwood condominium community. Priced from just $169,990 with the vast majority under $250,000, these beautiful homes will be in Ontario’s “Ski and Golf Country.”

“Wyldewood Cove presents a rare opportunity for homebuyers to realize their dream of affordable four-season living right on Georgian Bay and only minutes to Blue Mountain,” says David Hirsh, president of Brandy Lane Homes.

Wyldewood Cove is cradled by a 15-acre nature preserve. Onsite amenities include a shore-side trail with a Lighthouse Lookout waterfront pergola, winter skating rink and year-round pool with change facilities.

Intimate manor-style buildings offer one-, one-plus den, two- and threebedroom layouts with sun-filled Great Rooms, a cosy gas fireplace and open concept areas perfect for entertaining. Gourmet kitchens are complete with stainless steel appliances and granite countertops.

Spectacular loft-style designs have a full bathroom on the upper level, so are ideal for teens, guests or as a master retreat. All homes have recreational equipment storage at the front door, and a spacious terrace with a gas-ready barbecue hook-up.

Since 1985, Brandy Lane Homes has specialized in unique, infill residential development projects, and has earned a reputation for challenging traditional

Location Collingwood Housing Type Condominiums Contact 1.888.445.9608 wyldewoodcondos.ca

condominium thinking and design. Building upon the success of Wyldewood – the company’s completed Collingwood trailside community, Wyldewood Cove priced from $169,990 is sure to be another resounding success.

To learn more about Wyldewood Cove and register now for the Winter Grand Opening, visit wyldewoodcondos.ca or call toll free 1.888.445.9608.

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halton hills wellington waterloo

New Home Watch BUILDERS: If you would like to include your new model home or site opening,email wayne.karl@wall2wallmedia.com. Please say you saw it in New Home & Condo Guide!

preview registration macpherson builders Fergus | Summerlea Coming soon – single-family homes from the $280’s. Register today.

mysummerlea.com

macpherson builders Seaforth | Bridges of Seaforth Country living at its finest at one of Ontario’s premier adult lifestyle communities.

bridgesofseaforth.ca

new openings mattamy homes Kitchener | Wildflowers Coming soon – Mattamy’s first master-planned community in Kitchener, with affordable townhomes and detached homes.

mattamyhomes.com

gemini homes Guelph | Morning Crest Energy Star model home is now open. Visit at Watson Road and Couling Crescent for details on available single and semi-detached homes.

geminihomes.ca

Almaa Ayr Cambridge Elora Fergus Georgetown Guelph Kitchener Rockwood Waterloo

new releases menkes Georgetown | The Enclaves of Upper Canada New release of semi-links in this family community backing on to a ravine mature trees.

menkes.com

reid’s heritage homes Kitchener | The Oaks Grand opening of new 56-suite condominium.

Offering a great selection of floorplans that suit a variety of budgets and lifestyles in an established community.

reidsheritagehomes.com

reid’s heritage homes Guelph | Westminster Woods New building release at Kingsbury Square, as a result of the first Kingsbury building selling out quickly.

New standard features and finishes. Located in desirable South Guelph.

reidsheritagehomes.com

reid’s heritage homes Fergus | Westminster Highlands Two-storey townhomes just released, midrise coming soon. Master-planned community in Fergus. Choose from a variety of single-detached homes, and bungalow and executive townhomes – close to amenities and trails.

reidsheritagehomes.com

fusion homes Guelph | Blueberry Hill Brand new semi-detached and 30-ft. detached lots.

fusionhomes.com

fusion homes Guelph | Privada Final release now underway for this collection of bungalow townhomes.

fusionhomes.com

gemini homes Guelph | Creekside Special release – last lot in Creekside, Cobalt semidetached with pie-shaped lot now available.

geminihomes.ca

gemini homes Guelph | The Highlands Semi-detached homes from the $320’s, including A/C and granite kitchen counters. Walkouts available.

geminihomes.ca

february 1 - 15, 2014 | New home & condo guide SWO 17

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18

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New Hamburg

Plattsville

Stratford

Breslau

Collingwood

Baden

Owen Sound

MILTON, GEORGETOWN, ROCKWOOD, GUELPH, FERGUS, ELORA, ALMA, CAMBRIDGE, KITCHENER, WATERLOO, AYR

Halton Hills / Wellington / Waterloo:

Acton

Scarborough

Ajax

Kleinburg

PRICES

Ajax

MONARCH

Tranquility

•

Baden

EASTFOREST HOMES

Baden Country Estates

•

61

Cambridge

EASTFOREST HOMES

Carriage Lanes •

61

Cambridge

EASTFOREST HOMES

Highland Ridge

•

61

Cambridge

MATTAMY HOMES

Wildflowers

•

Cambridge

REID'S HERITAGE HOMES

Aspen Heights •

Collingwood

REID'S HERITAGE HOMES

Georgian Meadows

Collingwood

from mid $500's 40&41

from $298,990

6

BC

•

BC

REID'S HERITAGE HOMES

Silver Glen Preserve • •

BC

Fergus

REID'S HERITAGE HOMES

Westminster Highlands

Georgetown

MENKES

The Enclaves of Upper Canada • • from low $400's 35

Guelph

REID'S HERITAGE HOMES

Village by the Arboretum

Guelph

REID'S HERITAGE HOMES

Westminster Woods

Kincardine

REID'S HERITAGE HOMES

The Highlands at Hunter Ridge • •

Kincardine

REID'S HERITAGE HOMES

Inverlyn Lake Estates

• •

Kitchener

BRANTHAVEN HOMES

Joy •

Kitchener

EASTFOREST HOMES

Doon South

•

61

Kitchener

EASTFOREST HOMES

Eby Estates •

61

Kitchener

EASTFOREST HOMES

Grasslands of Stauffer Woods • •

61

Kitchener

EASTFOREST HOMES

Huron Landing • •

61

Kitchener

EASTFOREST HOMES

Huron Point •

61

Kitchener

EASTFOREST HOMES

Huron Village

• •

Kitchener

MONARCH

Topper Woods

•

Kitchener

WILLIAMSBURG HOMES/ REID'S HERITAGE HOMES

Eby Estates

• from $339,900

Kitchener

REID'S HERITAGE HOMES

The Oaks

Kleinburg

MONARCH

Kleinburg Crown Estates

•

Meaford

REID'S HERITAGE HOMES

Gates of Kent

•

BC

New Hamburg EASTFOREST HOMES

Riverside at New Hamburg

•

61

Owen Sound

REID'S HERITAGE HOMES

The Residences of Cobble Beach

• •

BC

Port Elgin

REID'S HERITAGE HOMES

Summerside

• •

•

•

BC

Puslinch

REID'S HERITAGE HOMES

Heritage Lake Estates

•

BC

Scarborough

MONARCH

Evergreen

•

Thornbury

REID'S HERITAGE HOMES

Lora Bay

•

•

•

BC

Waterloo

EASTFOREST HOMES

Woodway Trails

•

•

•

61

•

•

•

•

from the $180's 25&BC

• BC •

BC

BC

BC

13

from $280,590

•

•

•

61 40&41 21&BC BC

from low $800's 40&41

from high $400's 40&41

MILTON, GEORGETOWN, ROCKWOOD, GUELPH, FERGUS, ELORA, ALMA, CAMBRIDGE, KITCHENER, WATERLOO, AYR

•

PAGE

Halton Hills / Wellington / Waterloo:

SITES

De t.

Se m Bu i ng a To low w Co nho nd m Ad o e ul tL ife sty le

LOCATION BUILDERS

19

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//In the news

Group promotes national approach

to elevating consumer understanding of mortgage risks The Mortgage Broker Regulators’ Council of Canada (MBRCC) is helping consumers across the country gain a better understanding of the risks and responsibilities related to obtaining a residential mortgage.

The organization has developed a pamphlet, as well as educational content for its website, to ensure that Canadians in all provinces have access to practical information and important considerations about mortgages.

Know Your Mortgage Risks & Responsibilities, the materials developed by the MBRCC, are part of the organization’s efforts to improve mortgage consumer education. “It is important that borrowers understand the key considerations and implications when agreeing to a mortgage,” says MBRCC Chair Kirk Bacon.

“Educating consumers helps them make more informed decisions. This is true regardless of the province they live in.”

The information was developed for use in all MBRCC member provinces. The educational materials and the types of information borrowers received on mortgage risks and responsibilities vary from province to province. “Given the differences, we felt it was an area in need of further collaboration from the provincial mortgage broker regulators,” Bacon adds.

The MBRCC developed the pamphlet as a disclosure tool for mortgage brokers to provide to their clients during their initial discussions. It is designed to ensure that borrowers are knowledgeable from the outset, as well as to help stimulate discussions with the broker. “Brokers play a critical role in educating borrowers. Their clients look to them for information and advice. We appreciate their help in getting this information to the public,” says Bacon.

The pamphlet introduces readers to mortgage risks and responsibilities and points them to the MBRCC website for further information. The pamphlet is also available on their website for brokers to download and print at their convenience.

20 New home & condo guide SWO | february 1 - 15, 2014

020 News Consumer mortgage risks-VB-WK.indd 20

1/30/14 12:08:54 PM

SNOWMAN-SIZED BACKYARDS MORE SPACE FOR MORE FUN THERE’S A LOT TO LOOK FORWARD TO THIS WINTER! Enjoy a spacious property 100’ to 200’ deep! With low premiums and extra space for the kids to play, there’s a lot to love at Eby Estates.

After enjoying the winter weather, come inside to the warmth and coziness of a Williamsburg home. Take comfort in knowing you’ll be saving every month on utility costs because you purchased a quality, Energy Star® built home from Williamsburg Homes.

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021-Williamsburg-Eby Estates 12-07-13.indd 21

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//community focus

Westminster Highlands

introduces affordable condo living in Fergus Location Fergus Housing Type Lowrise condos Sales Centre 89 Aberdeen St., open Monday, Thursday and Friday 1 to 7 p.m., Saturday and Sunday noon to 5 p.m.

Contact 519.378.4578 reidsheritagehomes.com

S

tone cottages plaqued with heritage designations line the Grand River between Fergus and Elora, emphasizing the historical and cultural significance of these picturesque communities. Residents enjoy the spectacular surroundings, amenities and quaint atmosphere.

Not far from the river, Reid’s Heritage Homes is making it possible for more residents to enjoy small-town living but in a maintenance-free, affordable residence that appeals to many types of homebuyers. For less than $1,000 a month (including condo fees), Nichol Ridge is this collection of lowrise condos within Reid’s newly established community of Westminster Highlands.

Taking shape just off Hwy. 6 at the entrance to Fergus, Nichol Ridge is a four-storey complex just steps to amenities, and is still only a short walk to the historic downtown and its river views. Residents will enjoy the historic charm, modern

22 New home & condo guide SWO | february 1 - 15, 2014

022-023 CFReid's Heritage Homes_VB-WK.indd 22

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REID’S HERITAGE HOMES | Westminster Highlands

Recreational influences abound, with a wonderful array of dining spots, a recreation centre with three ice hockey rinks (a space other municipalities only wish they had!) and amenities for families of all ages. amenities and many kilometres of natural beauty blended with a meandering hiking trail – all right at their doorsteps. All the features, amenities and lifestyle attributes that Reid’s perfected over the last decade at Westminster Woods in Guelph, are ready to adorn this master-planned community being carefully crafted and designed here in Fergus.

Fergus is that cherished secret that combines all the good things in life. It’s a quiet town, settled in the midst of daytripping country and less than 15 minutes to Guelph, and only 30 minutes to Hwy. 401. Recreational influences abound, with a wonderful array of dining spots, a recreation centre with three ice hockey rinks (a space other municipalities only wish they had!) and amenities for families of all ages. Life in Fergus involves taking walkways to the river, crossing delightful bridges and gazing at

century-old cottages. There are rows of shops and boutiques. Right at the river’s edge, you’ll find the Fergus Market set into one of the most architecturally significant buildings in Fergus. Follow The Grand River as it winds through the town over to Elora and its wonderful gorge. Then mark your calendars for early August for the Fergus Scottish Festival and Highland Games, a weekend filled with Celtic music, highland dancing, pipes and drums, fun and frivolity and more.

Nichol Ridge is perfect as a first home, for families, snowbirds, singles… anyone with a desire to put lifestyle first and home maintenance last. With 59 units, there are 13 two-bedroom floorplans. Several plans feature a den while larger units also have a walk-in closet and laundry room. Sizes range from 746 to 1,201 sq. ft. – for a condo! Construction should begin in the near future with completion and occupancy scheduled for later this year. Starting prices range from $184,900 to $208,900, with a large selection of standard finishes as well as upgrades to choose from. A five-piece, stainless steel appliance package is also included.

Each suite features a quaint balcony while all residents share the main floor party room with kitchen and entertaining area.

Nichol Ridge is nestled amongst bungalow, executive, and two-storey towns along with single detached homes that mirror the essence, design and style of Reid’s Westminster Woods, its master-planned community in Guelph.

For low-maintenance, affordable living, Nichol Ridge at Westminster Highlands addresses the needs of everyone from first-time buyers and growing families to those downsizing or seeking a summer home while they look ahead to winters down south.

For more information, call 519.378.4578. february 1 - 15, 2014 | New home & condo guide SWO 23

022-023 CFReid's Heritage Homes_VB-WK.indd 23

1/30/14 12:12:30 PM

»» now available!

Get the scoop on builders in the Southwestern Ontario area.

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24 NEW HOME & CONDO GUIDE SWO | FEBRUARY 1 - 15, 2014

024 Annual Builders SWNH 2013.indd 24

3/12/13 2:56:03 PM

2013 ISSUES AVAILABLE NOW!

F O R Y O U R F R E E C O P Y C A L L 416 . 626-4889

14-01-30 11:33 AM

t

CAREFREE LIVING HOME OWNERSHIP FOR LESS THAN

1,000

In Fergus

*

$

A MONTH

BEAUTIFUL CONDOMINIUMS IN HISTORIC FERGUS FROM $184,900**

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STAINLESS STEEL KITCHEN APPLIANCES PLUS STAINLESS STEEL RANGE HOOD*** 20 min. to Orangeville 

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ALSO AVAILABLE • Single Detached Homes • Bungalow and Executive Townhomes • Two-Storey Townhomes

t

Renderings are artist’s concept of the completed buildings and are subject to change. *Based on $184,900 with 25% down, 3.59% 25-year mortgage paid monthly. Includes monthly condominium fees. **Prices subject to change. E. & O. E. ***Applies to mid-rise condominiums only. Some restrictions apply. See a sales consultant for more information.

reidsheritagehomes.com

USAGE

S

OPTIONS AVAILABLE

COLOUR SPECS

x025-Reids-Westminster PANTONE Highlands 01-18-14.indd

25

1/29/14 4:29 PM

//IN THE NEWS

Port Place’s Chateau in the Sky

A multi-million-dollar property with million-dollar views The Augustine Group that hit the St. Catharines market in 2013 with one of the most talked about real estate developments in years, rocks the market once again – with a bang. The Port Place sales team, headed up by Ann Parsons, announced the sale of a one-of-a-kind, 6,000-sq.-ft., three-storey penthouse suite which sold for just shy of $5 million – a record price for the Golden Horseshoe and surrounding areas.

Port Place is a landmark project of contemporary design – a community in the heart of wine country, poised for transition; from small town vibe to sophisticated, classic ambiance. The suite in question, referred to as The Chateau in the Sky, will offer opulent living and ornate luxury combine with breathtaking views and vibrant harbour surroundings in Port Dalhousie, a much sought-after corner of the city.

The owner of this amazing suite is a St. Catharines resident and respected businessman. Expressing faith in the project, he moved forward with the penthouse purchase, noting the timing was finally right. The journey for this owner began more than 12 months ago, and his confidence in this project has only grown as he learned more about the long-term plans for the area and the benefits to the community.

Port Dalhousie is a community where pride of ownership can be viewed along every street, where residents are passionate about what takes place within its boundaries… and where the masses come to experience this unique corner of the world.

Port Place will rejuvenate and electrify the area, starting with the release of this dramatic penthouse unit. As the project develops, the intoxicating details of its design will be shared.

All suites of Port Place will share the following amenities and features: › Located alongside Lakeside Park and its historic carousel › Port Dalhousie Yacht Club › Electronic Suite Proximity Card › Pool, fitness area, steam room, sauna › Walking distance to local shops › Within a short drive to GTA, Buffalo Airport, New York State For further information on Port Place or any of the other projects offered by the Augustine Group, contact Ann Parsons at 905.902.6689, or visit theaugustinegroup.ca

Features at present include: › 6,000 sq. ft. of luxury › Record price just shy of $5 million › Unique three-storey design that encompasses the 17th, 18th and 19th floor of the development › Multiple terraces with a 180-degree scenic view of the Toronto skyline, harbour and the tranquil park setting › Third-floor conservatory with glass walls › Professionally designed, luxurious, refined décor › 22-ft. ceilings › Skywalk connecting the second floor to the third floor conservatory › Engineered wood floors 26 NEW HOME & CONDO GUIDE SWO | FEBRUARY 1 - 15, 2014

026 NEWS-Augustine Group Port Place-VB-WK.indd 26

1/30/14 12:09:01 PM

halton hills wellingto

hamilton halton niagara

New Home Watch BUILDERS: If you would like to include your new model home or site opening, email wayne.karl@wall2wallmedia.com.

Please say you saw it in New Home & Condo Guide!

preview registration

spallacci homes Hamilton | Eden Park

kingwood homes Brantford | Riverwalk

Coming soon – Simona Place The Towns of Eden Park Exquisite collection of executive townhomes.

Coming spring 2014 – master-planned community of luxury 40-ft. singles beside the Grand River.

spallacci homes Hamilton | 101 Locke Condos

kingwoodhomes.ca

homes by desantis Beamsville | Fiera Coming soon to Beamsville – a stunning new collection of Urban Townhomes, priced from the low $200’s.

homesbydesantis.com

DAWN VICTORIA homes South Burlington | Village West Coming soon – register now for this small enclave of urban townhomes located on Plains Road. Ideal for commuters and young families.

dawnvictoriahomes.com

Dicenzo homes Stoney Creek | Blue Shores

spallaccihomes.com

Register now – Boutique condo living is coming to Hamilton’s hip Locke Street.

spallaccihomes.com

Molinaro Group Burlington | Paradigm The new Burlington opens soon – a new standard of condo living from the $200’s.

paradigmcondos.ca

new openings

forest park homes Fonthill | The Village Landing

Bungalow and two-storey freehold townhomes located just steps from shopping, dining and more in an intimate enclave neighbourhood.

thevillagelanding.com

TOBYN park homes Stoney Creek | Stoneywood Park Coming spring 2014 – detached homes and townhomes, on-site greenspace, easy access to highways, conservation area and other amenities.

stoneywoodpark.com

rosehaven homes Mount Albert | Victoria Highlands Coming soon – 50-ft. detached singles.

rosehaveninmountalbert.com

new horizon homes Bronte | Harvest Coming soon – register now for these luxury freehold townhomes backing onto Bronte Provincial Park.

newhorizonhomes.ca

new releases Rosehaven homes Chippawa | Lyon’s Creek Coming soon – model homes plus new release of 50-ft. detached lots.

rosehavenhomes.com

spallacci homes Hamilton | Eden Park Phase 4 release of exceptional 32and 40-ft. lots.

spallaccihomes.com

Emery condominiums Burlington | Appleby Club Limited release of Country Club Condominiums at Appleby and Dundas.

applebyclub.com

Sales office now open for luxury riverfront townhomes in historic downtown Paris, from the $230’s.

villageonthegrand.ca

Pre-register for Fonthill’s newest community – single-family homes and village homes.

Milton Niagara Oakville Paris Port Dover St. Catharines Stoney Creek Vineland

kingwood homes Paris | Village on the Grand

Waterside semis and singles from the mid $300’s.

blueshores.info

Ancaster Beamsville Binbrook Brant Brantford Burlington Catharines Grimsby Hamilton

cosmopolitan homes St. Catharines | Vintner Estates

vintnerestates.ca

spallacci homes Hamilton | Eden Park Grand Opening of Chateau-inspired semis collection.

spallaccihomes.com

mountainview homes Fonthill | The Residences at Lookout Second phase now open – new bungalow collection on 50-ft. lots.

mountainview.com

bucci homes Grimsby | Bliss Two-storey freehold executive towns located near 50 Point Conservation Area, priced from the mid $260’s.

buccihomes.com

Augustine Group Stoney Creek | Treviso Select suites still available at this condominium in downtown Stoney Creek – including corner units and penthouses.

trevisostoneycreek.ca

february 1 - 15, 2014 | New home & condo guide SWO 27

027 Sneak Previews HAMILTON-VB-WK.indd 27

1/30/14 2:34:11 PM

28

028-029-SW Map-Hamilton.indd 28

1/30/14 2:49 PM

Paris

Port Dover

Binbrook

Grimsby

Georgetown

Caledon

Smithville

Welland

Fonthill

Thorold

OAKVILLE, BURLINGTON, HAMILTON, ANCASTER, PARIS, BRANTFORD, STONEY CREEK, VINELAND, LINCOLN, THOROLD, FONTHILL, NIAGARA, NIAGARA-ON-THE-LAKE, FORT ERIE

Halton / Hamilton / Wentworth / Niagara:

Ridgeway

Stevensville

Chippawa

Fort Erie

De t.

Se m Bu i ng To alo wn w h Ad ome u l /C t L on ife do sty le

SITES

PRICES PAGE

Aldershot

BRANTHAVEN HOMES

Jazz Condos • from low $200's 12

Ancaster

HOMES BY DESANTIS

Tiffany Hill

•

Ancaster

LOSANI HOMES

Ancaster Glen

• • from the $300's 44

Beamsville

HOMES BY DESANTIS

Lincoln Square

• •

Beamsville

MOUNTAINVIEW HOMES

Hillside Estates

•

9

Binbrook

BRANTHAVEN HOMES

Celebrations

•

13

Brantford

EASTFOREST HOMES

D'Aubigny Forest Estates • •

61

Brantford

EMPIRE COMMUNITIES

Wyndfield

Caledon

MONARCH

The Village of SouthFields • • from high $300's 40&41

Fonthill

MOUNTAINVIEW HOMES

The Residences at Lookout • •

9

Fort Erie

MOUNTAINVIEW HOMES

Beaver Creek Estates

•

9

Grimsby

BUCCI HOMES

Bliss • from mid $260's 37

Grimsby

BRANTHAVEN HOMES

Wave • from $177,990

Grimsby

PHELPS HOMES

The Bedford Collection

•

Hamilton

EMPIRE COMMUNITIES

Summerlea

• • from $289,990 2&3

Niagara

EMPIRE COMMUNITIES

Imagine •

from $209,990

2&3

from $249,900

31

from the $500's

11

from $274,900

11

•

from low $400's

13 51

Niagara, Fonthill

FOREST PARK HOMES

The Village Landing

• •

Niagara

MOUNTAINVIEW HOMES

Fernwood

• •

9

Niagara

MOUNTAINVIEW HOMES

Thundering Waters

• •

9

Niagara

PHELPS HOMES

Streamside on the Twenty

•

Niagara Falls

HOMES BY DESANTIS

Lyon's Creek

• • • •

from $249,900

Niagara Falls

ROSEHAVEN

Lyon's Creek

• • •

from low $320's 11&39

• • •

from mid $200's

•

from low $300's

51 11&39

Niagara on the Lake BW HOMES

Niagara on the Green

Oakville

MENKES

Millstone • from $329,990

34

Oakville

NEW HORIZON

Mint Condominiums • from $239,990

45

Paris

EASTFOREST HOMES

Grandville

Paris

KINGWOOD HOMES

Village on the Grand

Simcoe

EASTFOREST HOMES

Woodway Trails

Smithville

PHELPS HOMES

Brookside on the Twenty • • from $258,900

Smithville

PHELPS HOMES

Harvest Heights

• •

St. Catharines

BW HOMES

Victoria Village

• from low $300's

St. Catharines

MOUNTAINVIEW HOMES

Generations

•

Stevensville

PARK LANE HOME BUILDERS

Village Creek

• •

Stoney Creek

EMPIRE COMMUNITIES

Victory

• • from $289,990 2&3

Stoney Creek

HOMES BY DESANTIS

Oasis in Stoney Creek • • from $309,900

Stoney Creek

HOMES BY DESANTIS

On The Ridge

• • from mid $200's 39&49

Stoney Creek

ROSEHAVEN

On The Ridge

• • from mid $200's 39&49

• • • from the $230's

• • •

from $245,000

5

61 30 61 51 51 4 9 53 11

Thorold

GREAT GULF

Rolling Meadows

• from $299,990

Thorold

MOUNTAINVIEW HOMES

West Community

• • •

Thorold

ROSEHAVEN HOMES

Gibson Heights

• • from the $250's 39

Waterdown

BRANTHAVEN HOMES

Bohemian Towns

•

from the $270's

17

Waterdown

COUNTRY GREEN HOMES

The Uptowns of Waterdown

• from mid $200's

7

Welland

MOUNTAINVIEW HOMES

Harvest Estates

• •

9

79 9

OAKVILLE, BURLINGTON, HAMILTON, ANCASTER, PARIS, BRANTFORD, STONEY CREEK, VINELAND, LINCOLN, THOROLD, FONTHILL, NIAGARA, NIAGARA-ON-THE-LAKE, FORT ERIE

• • from $224,990 2&3

Halton / Hamilton / Wentworth / Niagara:

Port Dover

LOCATION BUILDERS

29

028-029-SW Map-Hamilton.indd 29

1/30/14 2:49 PM

TOWNS BACKING ONTO THE GRAND RIVER IN PARIS

NOW OPEN

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31 FINAL LOGO: ACCEPTABLE FORMATS FOR USAGE Corporate Identity Forest Park Homes ForestPark_Corp_Logo.ai

031-Forest Park-Village Landing 01-18-14.indd 31

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//community focus

Millstone on the Park Oakville’s finest urban towns with rooftop terraces

T

he Millstone on the Park community in Oakville has an exciting final release of urban townhomes with rooftop terraces. The Urban Collection features single-storey towns with a patio or balcony and two-storey towns with breathtaking rooftop terraces. These homes range from 859 to 995 sq. ft. Priced from $329,990, these stylish townhomes provide an ideal price point for people entering the real estate market for the first time. This exquisite release of stylish urban townhomes represents the artful completion of the very popular and well-situated Millstone on the Park neighbourhood.

Esteemed builders Menkes Developments and Fernbrook Homes are pleased to announce the Final Phase at this beloved Oakville community, with the release of the all-new Urban Town Collection. Located in the western half of the community and only a short stroll from the park, these sleek urban towns are perfect for families who are looking for affordable housing in a prime Oakville location.

With the Urban Town Collection, these award-winning builders offer the best of all worlds – an unbeatable location, elegant homes and exceptional value.

Complementing the distinctive single-family home streetscapes that are the defining feature of this established community, Millstone’s new urban towns feature an attractive blend of designs with distinctive English or French architectural flair, contributing to the air of timeless sophistication that already permeates the neighbourhood. These refined townhomes all offer a wide array of impressive features such as stylish kitchens, open-concept Great Rooms with quality laminate flooring, serene bathrooms and spacious master suites. As a special bonus, purchasers will also receive four kitchen appliances, stackable washer/dryer and central air-conditioning. Act now to take advantage of the special bonus of a free locker and two years free maintenance!

Millstone on the Park is ideally located to take advantage of the many conveniences of Oakville and the surrounding area. Numerous public and Catholic elementary and secondary schools are easily accessible from the community. There’s also easy access to shopping at Bronte Village Mall, Oakville Town Centre and the Abbey Plaza. Bronte Creek Provincial Park is just minutes away, and major golf courses such as Deerfield, Saw Whet and Richview are also nearby. Millstone on the Park also makes it easy to get around, with convenient access to public and GO transit as well as Hwys. 407, 403 and the QEW. Millstone on the Park is built by Menkes Developments and Fernbrook Homes – two of the GTA’s most successful and respected builders.

Menkes’ most recent family communities include The Enclaves of Upper

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MENKES DEVELOPMENTS & FERNBROOK HOMES | Millstone on the Park

Canada in Georgetown, Bloom Park Towns in North York, The Chateaus in the Highlands of Castlemore in Brampton, Walker Farm Estates in Newmarket and Somerset in Ajax, to name a few.

Distinctive Fernbrook communities include Fontainbleu in Richmond Hill, The Chateaus in the Highlands of Castlemore and Stonecastle in Brampton, Joshua Creek & Bronte Creek in Oakville and more.

Don’t miss the chance to live in a well-designed urban townhome at Millstone on the Park.

Visit the Millstone on the Park presentation centre located on the south side of Dundas Street West, just west of Postmaster Drive and east of Bronte Road. The sales office is open Monday to Wednesday from 1 to 7 p.m., Thursdays by appointment, and weekends and holidays from noon to 5 p.m.; closed on Fridays.

For more information, call 905.825.3619 or visit millstonepark.ca

These refined townhomes all offer a wide array of impressive features such as stylish kitchens, open-concept Great Rooms with quality laminate flooring, serene bathrooms and spacious master suites.

Location Oakville Housing Type Urban single-storey townhomes with patio or balcony, and two-storey townhomes with rooftop terraces Sales Centre South side of Dundas Street West, just west of Postmaster Drive and east of Bronte Road, open Monday to Wednesday 1 to 7 p.m., Thursdays by appointment, and weekends and holidays from noon to 5 p.m., closed Fridays Contact 905.825.3619 millstonepark.ca february 1 - 15, 2014 | New home & condo guide SWO 33

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//HHHBA report

Hamilton housing market to remain stable in 2014

Echo boomers influencing homebuying trends » by Mathieu Langelier

Mathieu Langelier

is Executive Officer of the HHHBA. He can be reached at mathieu@hhhba.ca or 905.575.3344.

The housing market in Hamilton will remain healthy this year, with average prices increasing slightly above inflation, according to Canada Mortgage and Housing Corp.’s (CMHC) Senior Market Analyst, Abdul Kargbo. Also highlighted at the recent annual Housing Outlook Seminar was the important influence Echo Boomers will have on homebuying trends in the next couple of years.

Affordability remains a main driver of housing demand in Hamilton, especially for Echo Boomers. With more than 40 per cent of first-time homebuyers in Hamilton coming from the GTA and the price gap between houses in Hamilton and Toronto now at $138,914, we will continue to see this trend in migration.

However, affordability is fragile. With land supply dwindling in Hamilton, the prices of homes are rising, causing buyers to look elsewhere. Those who cannot afford homes in Hamilton are moving westward to Brantford, where houses remain affordable.

We have lost sales to people who have opted to drive further in order to get the home they want at a price they can afford.

In fact, between 2006 and 2011, Hamilton lost a total of 1,725 or 40 per cent of would-be-buyers to the Brantford market. We try to explain to homebuyers about time spent in traffic, the cost of car maintenance and gas, but to most of these consumers it’s not enough to change their minds.

Demographically, 70 per cent of first-time buyers are between the ages of 18 and 35, an age group that is more than willing to commute more than 45 minutes to their place of work.

What’s more, Hamilton is now ranked seventh in the country for longest commute times. This portion of the population is very price-sensitive and essential to a healthy housing market in Hamilton. In order to stay competitive in the market and continue attracting homebuyers, it is clear that housing prices in Hamilton must remain affordable.

Intensification continues to be an important goal for builders in Hamilton and is gaining more popularity with buyers. In 2013, 56 per cent of new starts were multi-family dwellings, and this trend is expected to stay the same in 2014.

Incoming HHHBA President Nando De Caria had this to say, “Our builders continue to fight for affordability because we know it’s the number one issue on first time homebuyers minds.

People often ask me what is going to happen with all the DCs, taxes, fees and recently with the possible Metrolinx tax and what impact this could have on the price of their new home. The only thing I can tell them is that I know one thing for sure: government imposed costs will not go down, so now is a great time to buy.”

36 New home & condo guide SWO | february 1 - 15, 2014

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//EXPERT ADVICE

Considering buying a new home?

6 things you need to know » by Karen Kessel

The New Year is a good time to think about your future. If you are getting ready to buy and new or resale home, there are six essential things you should know before you sign on the dotted line.

Karen Kessel

is the Broker of Record for Planet Realty Inc., Brokerage, servicing the Guelph and surrounding areas of South Western Ontario. If you have any questions for Karen you can reach her by email at karen@planetrealty.ca or visit planetrealty.ca

1 Location, location, location You may have found the perfect condo suite or gorgeous home, but if it’s the wrong neighborhood, that’s a game changer. Be sure to check out the surroundings. What do you want from the area? Is it close to shopping, or will you need to drive to buy groceries? How close are the schools? Also, look into what other developments are set to go up around you. Your gorgeous city view might soon be blocked by a new tower, or a whole new subdivision may cram the now-quiet roads with cars.

2 Buying from a new-home builder?

Don’t buy your home from just anyone. Read up on the builder.

How long has the company been in business? What other projects has it built? When in doubt, turn to the Internet.

Thanks to social networking websites, it’s easier than ever to find buyers of earlier projects. Ask questions. Were they happy with the builder’s service? Would they buy from the company again, or run in the other direction?

Keep in mind, particularly if your new home is a condo suite, all condominium corporations have varying rules about the type of renovations you can do to a unit – and even the times of day that renovations can take place.

3 Quality It’s difficult to determine the quality of your new home if you’re buying based on a floorplan. This is also the time to turn to the Internet and talk to other purchasers. Were they happy with their features and finishes? Were repairs made in a timely manner?

4 Warranties Be sure to familiarize yourself with Tarion’s new home warranties and fill out all the appropriate paperwork to protect yourself. If you’ve bought a home with an appliance package, learn how long your appliances are covered for repairs. And, if necessary, consider buying extended warranties.

5 Upgrades Is it worth it to pay extra for the builder’s upgrades, or should you install that glass backsplash and engineered hardwood after you’ve moved? That will depend on how much work you want to do on your new home, or if you prefer to walk right in and find everything finished.

Keep in mind, particularly if your new home is a condo suite, all condominium corporations have varying rules about the type of renovations you can do to a unit – and even the times of day that renovations can take place.

6 Timing They say it’s almost impossible to time the housing market, but there are factors you can take into account to decide if it’s the right time to buy for you. Do you have enough for your down payment? Can you secure an attractive mortgage rate?

Finally, can you find what you want in a price range you can afford?

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So choose the one builder who has always been there for Canadian families.

And visit Monarch. First.

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FEBRUARY 1 - 15, 2014 | NEW HOME & CONDO GUIDE SWO 41

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//community focus

Losani Homes set to launch two exclusive new projects in Ancaster Location Ancaster Housing Type Executive freehold townhomes and single-detached homes Sales Centre 435 Garner Rd. E., open Monday to Thursday 1 to 7 p.m., Friday by appointment, Saturday and Sunday 11 a.m. to 6 p.m.

Contact losanihomes.com/ancasterglen losanihomes.com/woodlands

L

osani Homes, one of Southern Ontario’s most award-winning builders, is about to launch a new phase of its popular Ancaster Glen site, as well as an exclusive new community.

Anticipation has been building for the next phase of Ancaster Glen, and Losani Homes is pleased to announce the wait is almost over. Within the next couple months, Losani Homes will introduce a brand new release of towns with new Chateau elevations that will make Ancaster Glen all the more attractive to a broader audience of new-home buyers.

“With the introduction of another new Freehold Townhome Collection, Ancaster Glen will continue to be the most sought-after location in the region,” says Fred Losani, of Losani Homes. “Ancaster Glen is more attainable, more affordable and more attractive than ever before.”

Less than two years ago, Losani Homes launched Ancaster Glen, a 55-acre master-planned community of executive freehold towns and large lot singles to a

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LOSANI HOMES | Multi-site

highly receptive audience of new-home buyers.

The townhome purchasers were seeking the luxury of carefree living with the Ancaster Town Collection. Families that were looking for luxurious large homes with traditional deep lots found them in Losani’s offering. Ancaster Glen delivered for both audiences to a resounding sell-out success with only a few townhomes and singles remaining.

If you missed out on the Phase 1 release, now’s your second chance to be part of this highly in-demand community. To gain VIP access to this release of townhomes register online at losanihomes.com/ancasterglen

Ancaster Glen’s new freehold town release will have all the great features of Phase 1’s executive towns – Old World architecture with tasteful brick or upgraded Chateau elevation; traditional lots; and an abundance of built-in community amenities.

“What attracted buyers to the Ancaster Glen community in the first place are the prestige home styles, the community park, the conservation trails, the landscaped roundabouts and location. These things are sure to attract new families looking to be a part of this upscale development,” says Fred Losani.

The new Townhome Collection is a limited release of freehold units, many of them integrated within Ancaster Glen’s Phase 1 site plan to mingle with the larger 40-, 45- and even 50-ft. estate lots. Fred Losani adds, “The streetscape will be visually compelling. This is not a typical cookie-cutter suburban grid but rather a pleasing meandering street plan. The Town Collection will contribute to a harmonious sense of place.”

Families will be drawn to the vast range of award-winning Townhome plans from Losani Homes’ gallery of homes. Choose from a wide array of expertly designed floorplans with luxury ensuites, multiple baths and two to three bedrooms layouts. All plans feature formal and family friendly designs that provide the most usable space and design style. Most units also feature a unique semi-attached plan, connected only at the garage, allowing for convenient garage to backyard access rarely offered in a townhome.

Not only will Losani be launching this exciting second phase in the coming weeks, but the company will also be unveiling a prestigious new site just three kilometers away. The Woodlands of Ancaster will be an estate-styled new community featuring 64 large lots spread out over four exclusive courts and backing on to protected conservation lands. The homeowners of this upscale new community will be able to enjoy the peace and tranquility of the forested areas and conservation lands in their backyards, while maintaining all the shopping, culture and amenities Ancaster has to offer.

Ancaster has long enjoyed the reputation as Hamilton’s premier address of distinction. Surrounded by greenspaces and woodlots, close to schools, shops, services and the charming historic downtown, families are drawn to the community and its cachet.

Ancaster Glen’s location off Garner Road, and the Ancaster Woodlands at the corner of Garner Road and Glancaster Road, are both well positioned between the charms of old downtown and the convenience of the new Meadowlands area. They are close to new amenities, schools, parks, conservation areas, the Niagara greenbelt, choice golf courses and are easily accessible to Hwy. 403 and beyond.

Register now for VIP event and privileges at losanihomes.com/ancasterglen or losanihomes.com/woodlands

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CITY FOCUS//

OAKVILLE & BURLINGTON Liveable and prosperous » by WAYNE KARL photos TOWN OF OAKVILLE

O

akville may be historically known for the famous Ford plant, oil refineries along the lakeshore and up-market homes, shops and restaurants.

These days, Oakville may still show some of those classic characteristics, but it is increasingly earning a reputation as a city on the rise with a self-sufficient, driving economy.

Blessed with a strong natural location along of the shores of Lake Ontario, with easy access to major Canadian cities as well as those in the U.S. via the QEW and rail lines, Oakville now shines in business as well as culture, recreation and leisure.

Located toward the southwestern end of Lake Ontario, Oakville helps comprise one of the largest consumer and industrial markets in Canada.

This geography and proximity to large industries and communities in Hamilton, the Greater Toronto Area and the US borders, plus a strong transportation infrastructure, are central to the prosperity that Oakville has enjoyed in recent years.

With a vision to become “the most liveable town in Canada,” the Town of Oakville is intent on building a robust economy with potential for growth, and the local economic development authority has a comprehensive plan to capitalize on traditional strengths.

Oakville Town Council, in fact, recently won an Economic Developers Council of Ontario (EDCO) award in the category of Redevelopment Initiatives, for its leadership in developing the Bronte Business Action Plan. The Bronte Business Action Plan, led by the town’s Economic Development department, was initiated to further Bronte’s economic development and urban revitalization. The plan is using the Four Pillars of the Main Street approach – Organization, Marketing, Physical Design and Economic Development – to achieve the goal of economic development and urban revitalization. The Bronte BIA will implement the action plan from 2013 through 2016.

“This award recognizes that great things can be achieved when we work together to create Canada’s most livable town,” says Mayor Rob Burton.

Home to the Ford Motor Co. of Canada plant and Canadian headquarters since 1953 – an important facility for the company over the years – Oakville has enjoyed economic diversification in recent years.

A strong and diversified economic base offers an excellent location for both new and expanding businesses. More than 260 national and international corporate headquarters constitute an important part of the 4,500 employers in Oakville. Oakville’s top 100 employers by industry include companies from the automotive, manufacturing, pharmaceutical, professional service and construction industries.

Companies here have access to a high quality local work force, with 56 per cent of residents holding a post-secondary education – about 12 per cent higher than the provincial average. While manufacturing industries account for 15 per cent of employment, managerial, business and administrative categories make up 36 per cent of occupations.

Some of Oakville’s major employers have performed well over the last few years, with firms such as Goodrich Landing Gear and Javelin Technologies increasing employment.

In 2011, Ford announced a $2.5-million research project for new powertrain systems for hybrid vehicles.

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Also in 2011, Goodrich Landing Gear received a $3.3-million investment from the provincial government to assist the company’s R&D. Sheridan College also officially opened its new Applied Research and Collaboration Centre, for use by the faculty, students and external partners specifically involved in research projects administered through Sheridan’s office of Applied Research and Innovation.

A number of new businesses have also made their way to Oakville, bringing more than 650 new jobs and absorbing more than 411,000 sq. ft. of commercial and industrial facilities.

An historic town with a thriving waterfront, Oakville has preserved its rich heritage, with many 19th Century buildings in the downtown core. Downtown also boasts one of two local harbours on Lake Ontario, featuring more than 1,000 slips and moorings for sail and powerboats. Bronte is the location of Oakville’s second harbour, and has an abundance of fine shops and restaurants.

Supporting all this development is a strong and further improving transportation infrastructure. Prime location at the centre of major transportation routes – the QEW and Hwys. 403 and 407 – facilitates access to major markets in Canada and the US. The network includes toll and toll-free expressways, commuter and urban public transit, by rail and bus, national and international rail service for people and goods, global passenger and cargo aviation services, and extensive inland and international marine shipping facilities.

Illustrating how important transportation is to the city, the Town of Oakville is currently surveying residents to help identify community priorities from now until 2031.

The “Switching Gears” Transportation Master Plan is intended to deliver an exceptionally detailed level of integration between land use and transportation planning, to help identify Oakville’s transportation needs and consider a diverse range of options to satisfy future travel demands.

Says Mayor Burton: “Our goal is to offer more balanced, efficient and sustainable transportation choices for people, goods and services to move around Oakville. Public input is key to helping us focus on transportation priorities that matter most to our community.”

Switching Gears is one of several master plans that together with other key planning initiatives will create a path to a more livable and sustainable Oakville into the future, the Town says.

Developers see the growth potential in Oakville, and a number of projects are underway from companies such as Fernbrook Homes and Menkes Developments. And in nearby Hamilton, DiCenzo Homes, Multi Area Developments and New Horizon Homes have new openings, while in Burlington, Davies Smith Developments is also building. This means plenty of new-home shopping options for prospective buyers.

Oakville also boasts abundant natural attractions and culture, with more than 2,400 acres of parkland, theatres and galleries, Glen Abbey Golf Club, and the annual Waterfront Festival and Jazz Festival.

Culture in the city, in fact, received a big boost in 2012 with the grand opening of the new Queen Elizabeth Park Community and Cultural Centre (QEPCCC). Located at 2302 Bridge Road, QEPCCC offers more than 144,000 sq. ft. of active living space, making it one of the largest venues in Canada to house such a diverse collection of recreation, arts and cultural opportunities. It offers classes, workshops, camps, drop-in activities and events for all ages and abilities. The facility boasts an aquatics centre, two gymnasia, a youth centre, an older adult centre, dance studios, a recording studio, fine arts studios, a rehearsal hall, black box theatre, gallery and museum space.

“This new facility symbolizes our goal to be the most livable town in Canada, and its opening clearly demonstrates our continued progress towards that goal,” says Burton.

OAKVILLE AT A GLANCE POPULATION

165,000

MAJOR EMPLOYERS

Automotive, technology, pharmaceutical, construction AVERAGE HOME PRICES

Sept. 2013: $595,021 Sept. 2012: $563,801

SOURCE: Canadian Real Estate Association, other sources

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BURLINGTON Building on history with economic growth Ten years or so ago, if you were asked to describe Burlington, you might have thought of it as just west of Oakville, lots of land space, a bit of a bedroom community between Toronto and Hamilton, with some big box retail outlets.

Burlington still shows those characteristics, but is increasingly earning a reputation as a city on the rise, with a progressive local government and economic development office helping to build a self-sufficient economy. Burlington shines in business as well as culture, recreation and leisure.

And like Oakville, Burlington’s proximity to Hamilton, the GTA and the U.S. is central to its prosperity.

The city has a clear vision of its future. Core economic strengths focus on advanced manufacturing, software development, financial services, biotechnology, environmental and logistics enterprises. Increasing diversity is one of the keys to future growth, as this would build resilience and sustainability to expand further beyond its traditional industrial markets.

For example, the city is expanding its partnerships with nearby post-secondary institutions, including McMaster University and Mohawk College, in emerging fields of technology, research and skills training.

In addition, Mayor Rick Goldring says the Burlington Economic Development Corp. is one of the city’s top priorities. City Council has endorsed aggressive growth targets and has formally asked BEDC to take a more direct and active role in the short- and long-term development and marketing of Burlington.

Already well positioned with extensive access to regional, national and international transportation networks, the city is also the beneficiary of recent investments in infrastructure to improve highways and mass transit, to facilitate business growth and community development.

The city has enjoyed substantial growth recently. By 2006, the population topped 160,000 and continues to grow; development is spreading north, with farmland north of Dundas St. (formerly Hwy. 5) increasingly giving way to suburban housing.

BEDC has a very clear and ambitious plan for the city. With a mission statement “To promote a healthy environment and prosperous community by facilitating opportunities for economic growth,” BEDC is positioning Burlington as a globally competitive community.

Currently in Burlington, a disparity exists between local jobs and the skill-set of residents, says BEDC. Residents have to commute outside the city to find work, particularly in professional services. As a result, approximately 55 per cent of Burlington residents commute to jobs in Oakville, Mississauga and Toronto. In the manufacturing industry, the opposite occurs, as Burlington imports labour from outside the city.

BEDC’s strategy is to create the right job opportunities for residents to live and work in the same community, improving their quality of life.

In 2012, Burlington City Council approved a BEDC employment land strategy, with five districts that have the potential to increase the city’s non-residential tax levy revenues by two per cent per year. This should generate more than $600,000 or about 87,000 square metres of non-residential construction, annually.

All of this is important news for prospective new-home buyers looking to buy in and around Burlington. These plans mean more local job opportunities, which leads to employment and average wage growth – key determining factors to support new housing and increasing real estate values.

Developers catering to this demand include: Branthaven Homes, with two- and three-storey luxury townhomes in downtown Burlington; Tobyn Park Homes, which is building ParkCity, a condominium also in the downtown area; and Adi Development Group is building Mod’rn Condominium, in the heart of the city.

Residents can enjoy a variety of cultural and local attractions in Burlington, from the famous Royal Botanical Gardens to the Burlington Art Centre, home to the

BURLINGTON AT A GLANCE POPULATION

175,000

MAJOR EMPLOYERS

Sales and service, business finance administration, management, trades and transport sectors AVERAGE HOME PRICES

Sept. 2013: $386,098 Sept. 2012: $359,822

SOURCE: Canadian Real Estate Association, other sources

world’s largest collection of contemporary Canadian ceramics.

Parkland is abundant in Burlington, with 75 parks occupying 800 acres within the city. Key among them is the Spencer Smith Park, a highlight in downtown old Burlington which has undergone significant redevelopment over the years to become one of the city’s central recreational centres along the waterfront.

For those looking for amateur sports and recreation in their community, Burlington has a vast array of excellent programs and youth leagues, as well as the Burlington Cougars junior hockey team.

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Coming April 2014

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Register today at LiveOnTheRidge.ca

*Prices and specifications correct at press time. Rendering is artist’s concept. E. & O.E. Prices quoted are in $ thousands.

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//MAKE YOUR MOVE

BLIZZARDS, BLACK ICE

and moving » by CHUCK RESNICK

Moving when ice and snow are in the daily forecast isn’t a popular choice for many Canadians. It’s cold and

CHUCK RESNICK

is vice-president of marketing and operations, Two Men and a Truck Canada. twomenandatruck.ca

slippery; but with some extra safety precautions, winter moving also has many advantages.

Moving last minute? No problem, if it’s during the cold months. Choosing to move in the “off season” – sometime between November and March – can save you time and money.

Summer is the busiest season for moving companies. Th is means you must be well prepared, booking six to eight weeks in advance to ensure your preferred moving company is available. Not only are they higher in demand but generally their rates are also more expensive.

Some companies may be more willing to negotiate their rates during the winter months as they’re competing for business during the slow season. Likewise, less rush and stress for companies in the winter means you get their best employees resulting in a higher quality of service.

With everything booked, now comes the packing. Follow these tips for a relaxed and toasty move – no matter what’s going on outside those frosted windows. ›› Have a contingency plan. Keep up to date with local weather forecasts and change your plans accordingly. If a big snowfall or freezing rain is expected the morning of your move day, don’t risk it.

Keep cosy. Carry extra warm clothes for you and your family – including hats, gloves and snow pants. Pack these ahead of time and clearly label them so you can locate them immediately.

›› Have driveways and sidewalks cleared of snow before the movers arrive. Your driveway needs to be ploughed wider than usual – enough to allow the moving truck’s loading ramp to be positioned as close to your front door as possible. Lay plywood down on muddy or slushy areas. Slipping can not only lead to dropped boxes and broken possessions but also personal injury. ›› Quality movers will use floor runners to protect your floors in high traffic area but for extra protection inside, cover your floors to protect them from tracked-in snow, mud and salt. ›› Drive safe. Make sure maintenance and service on your vehicles is current.

Check the air pressure on your tires and ensure the trunk is equipped with emergency kits (matches, flashlight, food), blankets and shovels. Drive slowly with extra caution. ›› Be certain that your heating company for your new home is aware of your move in day.

Wintertime moving doesn’t have to be wet and miserable. With these reminders, you’ll be packed up, moved and basking in the warmth of your new home before you know it.

›› Keep cosy. Carry extra warm clothes for you and your family – including hats, gloves and snow pants. Pack these ahead of time and clearly label them so you can locate them immediately. ›› Remember your items will be in a non-heated environment for a while. Ensure your plants, electronics and liquids are properly packed and protected from the cold. ›› Allow extra time on the move day – cold weather slows things down. Additionally, rushing in the winter can lead to accidents and injuries.

50 NEW HOME & CONDO GUIDE SWO | FEBRUARY 1 - 15, 2014

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IN THE NEWS//

Canada to benefit from a strengthening U.S. economy in 2014 RBC Economics Canada’s economy is expected to perk up in 2014, supported by increases in exports and strengthening business investment, according to the latest Economic and Financial Market Outlook from RBC Economics. RBC is forecasting real GDP growth of 1.7 per cent for 2013, 2.6 per cent in 2014 and 2.7 per cent in 2015.

steady. Longer-term yields on government bonds are likely to rise in line with the gradual, upward shift in U.S. treasury yields; RBC indicates that the pace of increase will be gradual enough to ensure that the economy doesn’t falter and that the Canadian housing market stabilizes.

Canada’s labour market has been resilient, with 148,000 jobs created in 2013 and the unemployment rate falling to a cycle low of 6.9 per cent, RBC says.

As labour markets tighten further, wage pressures are expected to have a greater upward impact on inflation through the forecast moving it closer to the Bank of Canada’s 2.0 per cent target rate. RBC notes that real wage gains will continue to fuel consumer spending going forward.

Niagara’s Best Value “The U.S.’s slow and subpar recovery no doubt played a part in the underperformance of Canadian exports through 2013,” says Craig Wright, senior vice-president and chief economist, RBC. “(For) 2014, we anticipate that stronger growth south of the border will translate to increased demand for Canadian exports, especially as the expansion fans out and business investment accelerates.”

The report indicates that strong exports relative to imports in 2014 will result in trade contributing more than it has in a decade to Canada’s annual growth rate. RBC anticipates that this will cause a rebound in investment activity.

Extra support to external trade will come from a weakening Canadian dollar over the course of next year, says RBC. The softer currency reflects a leveling off in commodity prices alongside a generally firmer tone for the U.S. dollar.

RBC also assumes that neither the Bank of Canada nor the Fed is likely to adjust the overnight policy rate in 2014, meaning short-term interest rate spreads will hold

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FEBRUARY 1 - 15, 2014 | NEW HOME & CONDO GUIDE SWO 53

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//book review

New book offers the low-down on the real risks and

rewards of investing in real estate » by Susan legge

You’ve seen how easy renovating and flipping real estate properties is on TV, and you think you’d make the perfect landlord while making piles of money, right? Now give your head a shake and check out Julie Broad’s new book or switch the channel.

Broad’s book, More Than Cashflow: The Real Risks & Rewards of Profitable Real Estate Investing, puts some much-needed advice into the hands of wannabe real estate investors considering making a career out of building a profitable portfolio of properties.

A Canadian investor herself, Broad took a step-by-step approach with her new book – which went to number one on Amazon.ca – by providing some basic strategies and fundamentals about the investment real estate market, and she did it without pulling any punches.

“We help you get into real estate investing without the hype that comes with far too many newsletters, blogs and programs in the market today. But you will have to work for it,” says Broad. The book covers plenty of ground, including ways to increase cash-flow using rent-to-own strategies, tips on finding and keeping tenants, the low-down on property managers and ideas about where to invest.

There’s even a chapter on female intuition – love that! Much of the advice comes from the real-life adventures of Broad’s own investments with (and without) her husband, Dave. Interestingly, the couple’s most successful investments were mutually agreed upon at the outset.

In terms of the time commitment an income property demands, Broad says it depends on how many properties you have and whether you hire someone to oversee tasks such as finding tenants and property maintenance. “It may take an hour or two a month, or it could be a full-time job,” she says. And costs can add up. Placement management fees, for example, can take a chunk of cash out of your pocket, but the time you save on getting the right tenant may be well worth the investment, particularly if you’re looking at a property that’s difficult to rent or if you can’t spare the time yourself to show the property to potential tenants.

Condo or freehold?

When asked about the difference between buying a home or a condo as an investment, Broad says she prefers a condo-fee free options. “You can control the costs of a freehold investment,” but even a freehold home has its caveats. “If it’s not a solid, well-cared for property, for example, recovering the costs of a new roof can take several years.”

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Overall, investors should look at a property before purchasing it based on three strategies: > Will the property appreciate over time? > Will you be paying down the mortgage quickly using the rental income? > Will you be creating cash flow?

Rent-to-own The rent-to-own strategy of purchasing a home is still an option, as people see that the Canadian real estate market is strong and the likelihood that home prices will increase is high. The rent-to-own scenario is a good one if you’re thinking about buying a property with the idea of selling to the tenant using the rental income, but you need to be sure to have a proper legal agreement in place, says Broad. “If the tenant suddenly decides the property isn’t worth buying, what recourse do you have if they walk away?”

“ We help you get into real estate investing without the hype that comes with far too many newsletters, blogs and programs in the market today. But you will have to work for it,” says Broad

Get educated When it comes to getting more info and a better understanding of your local investment market, Broad suggests websites such as meetup.com, which often have specific networking opportunities for investors. Hearing about others’ experiences is the best way to learn, and getting suggestions from those who have been there and grown from the experience is a great way to avoid pitfalls. Since it takes more than the length of an average TV show to become an investment expert, people like Broad who offer their own real-world accounts of both successful and unsuccessful strategies are essential to any future flipping star.

Broad’s book is available on her website, revnyou.com or online at indigo.ca and amazon.ca

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LONDON

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56 New home & condo guide SWO | february 1 - 15, 2014

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//In the news

Paying down debt the top financial priority for Canadians in 2014: CIBC

A new poll from CIBC by Harris/ Decima finds that paying down debt remains the top priority for Canadians in 2014, the fourth year in a row that debt concerns have topped the list in the annual survey. Poll results also show that immediate financial concerns including managing day-to-day spending and paying the bills have become more important to Canadians in recent years at the expense of longer term goals like retirement planning.

Over the last four years of this CIBC poll, Canadians identified the following as their top financial priorities:

2014 2013 2012 2011 Paying Down Debt

16%

17% 17% 14%

Building Savings

11%

10% 10% 10%

Managing Day-to-Day Spending / Budgeting

8%

8%

14% 12%

Paying Bills / Getting By

8%

7%

3%

Retirement Planning

7%

7%

11% 13%

--

”For the fourth year in a row, Canadians have told us their top financial priority is paying down their debt as we enter a new year,” says Christina Kramer, executive vice-president, retail distribution and channel strategy, CIBC. “While the intent to reduce debt is clear, we also know that some Canadians are not yet making the progress they want to on reducing their overall debt levels, which speaks to the importance of having a clear action plan in place to reach your goals in 2014.”

Poll findings also revealed that less than half (47 per cent) of Canadians surveyed said they had met with an advisor in the last year. As well, out of those surveyed only six per cent named debt management as a topic of a conversation they would have with an advisor. Kramer noted that while

the intention to pay down debt remains strong, it can be challenging if you don’t have a plan in place.

“Despite being top of mind for 2014, many Canadians don’t think about sitting down with an advisor and having a conversation about how to reduce their debt,” says Kramer. “Trying to do-it-yourself can work for some people, but most Canadians would benefit from taking a broader view of their finances with an advisor including looking at their debt, and then working out a realistic plan to start repaying that debt over time.”

This year’s poll results also show a continued trend towards short term financial goals and issues becoming more important to Canadians, while longer term goals including retirement planning have dropped in the rankings.

For example, while retirement planning was named by 13 per cent of Canadians as their top financial priority entering 2011, it is now seven per cent entering 2014.

Conversely, “paying the bills” has grown steadily since 2011, and was named by eight per cent of Canadians in this year’s survey as their priority for the year ahead.

“Managing cash flow and expenses are immediate issues, but you also can’t put off your retirement planning indefinitely,” says Kramer. “The good news is that if you start early you can take small steps towards building your retirement savings while also focusing on your current financial needs.”

Advice on delivering on financial priorities

»T alk to an advisor: Most Canadians don’t think about making debt reduction the topic of a conversation with an advisor, but it can help you make progress on paying down debt by looking at your overall financial picture and putting realistic steps in place to reduce interest costs and accelerate debt repayment. » Recognize that your finances are all connected: Making progress on one aspect of your financial goals can lead to an opportunity to improve in others, meaning you don’t have to focus on just one priority at a time. For example, a reduction in debt can free up funds to go towards retirement savings, or to further accelerate debt reduction. Renewing your mortgage at a lower interest rate can generate an improvement in cash flow that can be used to start making RRSP contributions earlier in life which can grow over time. » Don’t lose sight of the longer term: While it is important to address immediate financial needs such as debt reduction, it is equally important to keep future goals such as retirement in sight. Even small contributions today can make it easier in future years to reach your retirement savings goals. » Stick to your plan: Once you have a plan in place, stick to it. If you fall off track, get back to your plan as soon as possible and keep making progress towards your goal.

58 New home & condo guide SWO | february 1 - 15, 2014

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FEBRUARY 1 - 15, 2014 | NEW HOME & CONDO GUIDE SWO 59

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62 NEW HOME & CONDO GUIDE SWO | FEBRUARY 1 - 15, 2014

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EXPERT ADVICE//

SPEND vs. SAVE » by SARA DUCK

PAUL SEMKULEY

interior stylist, is principal of Re:Source Lifestyles. He combines his love of art, fashion and design to offer a unique styling and design firm. Visit resourcelifestyles.com

J

ust bought a new home and on a tight budget?

Don’t fret! With expert advice from interior stylist Paul Semkuley, we show you where to spend and save for each room in your house.

SAVE: Emmie Spets Sheet Set in White. $45. Visit ikea.ca

Table Lamp. $70. Visit bouclair.com

Hemnes Three Drawer Chest in Gray-Brown. $150. Visit ikea.ca

Seagrass Block Headboard. $200-$390. Visit pier1.ca

BEDROOM SPEND: MATTRESS AND BOX SPRING APPROX: $1,500 - $3,000

Although it is the least glamourous item to buy for the bedroom, it is the most important. A good mattress will make all the difference in getting your beauty sleep each night. “The mattress should last you at least 10 years,” says interior stylist Paul Semkuley.

“Especially when you purchase it with the coordinating box spring – as it absorbs up to 50 per cent of the body’s impact.” Semkuley also suggests getting comfy and cosy in store by laying on it like you would normally sleep, to see if the mattress is a right fit. Whether you prefer a mattress that is firm, made of organic material or one that comes with a pillow top for extra comfort, buy the best one you can afford.

TIP: Don’t try to save money by using an old foundation or box spring with your new mattress. A mattress paired with its new box spring work together for all around better support, and keeps the mattress in shape longer.

FACT: A study conducted in the U.S., Canada, Mexico, UK, Germany and Japan found that a comfortable sleep surface and cosy sheets and bedding were rated the most important romantic elements in all six countries.

FEBRUARY 1 - 15, 2014 | NEW HOME & CONDO GUIDE SWO 63

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KITCHEN

SAVE:

SPEND: FREE-STANDING RANGE APPROX: $2,000-$5,000

Gourmet Settings Non-Stop Flatware. $50 for 20-piece. Visit bedbathandbeyond.ca

Appliance shopping can be daunting – especially when you are deciding on a big purchase such as a free-standing range (hot plate on top, oven underneath). But this important appliance will make your cooking life easier if you spend a little more on a quality piece that is tailored to your needs.

“Having a gourmet range will make a huge statement in your kitchen. It will definitely add value to your home while you live there and especially if you plan to sell your home,” says Semkuley.

TIP: There are plenty of options when it comes to your range, such as gas, electric and induction. Determine which type of fuel you will use based on what you have available and your personal cooking preference.

Bodum Chambord Four Cup French Press with Locking Lid. $50. Visit thebay.com

Royal Doulton Gordon Ramsay Maze White Dinnerware. $100 for 16-piece. Visit bedbathandbeyond.ca

FACT: A study conducted by Visa Canada suggests 60 per cent of Canadians eat out once or more a week.

LIVING ROOM SPEND: SOFA APPROX: $3,500-$5,000

The living room is the main hub of any home. It’s where you will do most of your entertaining and it’s the place you will go to snuggle and watch movies together. It’s important, then, that you invest in a sofa that not only looks good, but is comfortable, durable and functional for your space.

Paying a little extra now, means a sofa that will last through the years. “When you have great bones in a sofa, you can always reupholster it, knowing that you will have the comfort that you have enjoyed for so many years,” says Semkuley.

Hamilton Beach 1.7L Dome Electric Kettle. $60. Visit thebay.com

SAVE: Sequined Striped Pillow. $49. Visit chapters.indigo.ca

Bendale Rug by Korhani Home. $134 for 5x7. Visit rona.ca

64 NEW HOME & CONDO GUIDE SWO | FEBRUARY 1 - 15, 2014

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SAVE: Simply Fine Lenox Chirp Bath Ensemble. $50. Visit bedbathandbeyond.ca

Fiona Bath Towels in Coral. $14. Visit bedbathandbeyond.ca

The Beverly Mirror by Tangerine Mirror Co. $80 for 24 by 26-in. Visit homedepot.ca

BATHROOM SPEND: VANITY AND COUNTERTOP APPROX: $2,500-$4,000

You may think this is an odd pick to invest your money in, but the vanity is a key item for the bathroom. Don’t forget you will be using the vanity every day, multiple times, opening and closing doors and exposing it to moisture. “The most important need of the vanity must be function,” says Semkuley. “Spending more on cabinetry that is made of solid wood will last much longer in a “wet” environment, than those made of a pressed wood compound.”

TIP: Buy a vanity that is proportioned to your space. You may have room for a big vanity but little room for anything else.

Heritage Aged Iron Chandelier by Hampton Bay. $99. Visit homedepot.ca

FACT: In 1890, the Scott Paper Company manufactured toilet paper on a roll, much as we know it today.

Floor Lamp. $140. Visit bouclair.com

Box Frame Coffee Table in Mango Wood. $429. Visit westelm.com

TIP: When sofa shopping, look for a sturdy frame, one that does not wobble or creak but sits squarely on the floor.

Also, pay attention to fabric detail – you want a fabric that will wear well for every day use.

FACT: According to BBM Canada, the average Canadian adult watches 30 hours of television a week.

FEBRUARY 1 - 15, 2014 | NEW HOME & CONDO GUIDE SWO 65

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homebuyers’ help//

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» Calculate your mortgage payments using the mortgage payment calculation chart

february 1 - 15, 2014 | New home & condo guide SWO 67

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hot dates//

Feb 1 - feb 22

Winter Jazz Series –Hamilton All Star Jazz Band

FIELDCOTE MEMORIAL PARK & MUSEUM ANCASTER

A new winter jazz series at the Old Fire Hall in the historic village of Ancaster. The series of six concerts will take place on Saturday evenings in January and February. hamilton.ca

feb 1-23

Feb 1 to 15 Calendar of events beginning from Feb. 1 to 15, 2014

Wineries of Niagara-on-theLake: Days of Wine & Chocolate NIAGARA-ON-THE-LAKE

Explore the decadently sweet and savoury art of wine and chocolate pairing. Taste VQA wines paired with chocolate-infused dishes, from classically sweet flavour combinations to unexpected surprises. wineriesofniagaraonthelake.com

feb 14-17

London RV Show

Western Fair district london Dozens of vendors gather under one roof for Southwestern Ontario's largest RV show. See hundreds of units and thousands of accessories, and take advantage of opportunities for in-show savings. londonrvshow.com Feb 15-17

Hamilton Kids-Fest

CANADIAN WARPLANE HERITAGE MUSEUM HAMILTON Come celebrate Family Day with us at Central Ontario's largest indoor inflatable festival. kids-fest.ca

february 1 - 15, 2014 | New home & condo guide SWO 71

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Calculate your mortgage payments interest rate

amortization period

chart figure

example: 5%

25 years

5.82

mortgage amount ÷ 1,000 (mortgage amount $125,000)

125

monthly payment

$

Follow these steps to see if you’ll qualify for a mortgage on your dream home

01 02 03

Calculate the combined monthly before-tax income of you and your spouse.

Divide by three. This figure is the monthly payment you can afford to make on your home.

Take the total price of the home and subtract the amount of money you expect to make as a down payment. This is the money you will have to borrow.

04

Refer to the chart on the opposite page. Look down the left column and locate the interest rate you expect to pay.

Line this up with the amortization period of your choice. (Most firsttime buyers take the 25-year amortization.)

05

06 07

Add to this your estimated monthly heating costs and monthly property taxes.

If this figure is equal to or less than one-third of your gross monthly income (calculated in Step 2), you’ll qualify for a mortgage on your dream home.

Multiply this figure by the amount you need to borrow.

Divide by 1,000. » Bear in mind that this is a rough estimate. If you have several other large loans already, you may qualify for less. Also, banks and trust companies vary in their policies. The best way to know what you can afford is to go to the lending institution of your choice andget pre-qualified.

72 New home & condo guide SWO | february 1 - 15, 2014

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Mortgage payment calculation chart %

Interest Rates

10 years

Amortization Periods

15 years

20 years

25 years 4.73

4.21

4.99

4.48

3.00%

9.65

6.90

5.54

3.50%

9.88

7.14

5.79

3.25% 3.75%

9.76

9.99

4.00%

10.11

4.50%

10.34

4.25% 4.75%

5.00% 5.25%

5.50% 5.75%

6.00%

6.50%

6.25% 6.75%

7.00%

7.25%

7.50%

7.75%

10.23 10.46 10.58

6.04

5.26

7.63

6.30

5.53

7.50 7.75

7.88

11.31 11.43

8.53

8.66

8.80

11.56

8.93

11.81

9.21

11.68

9.07

10.75%

11.00%

11.25%

11.50%

11.75%

12.00%

12.45

12.58 12.84 13.10

13.24 13.37 13.50

13.64

13.77

13.91

14.04

14.18

12.25%

14.32

12.75%

14.59

12.50%

7.84

9.76

9.90

10.05

14.46

10.33 10.63 10.77 10.92

11.06

11.22

11.36

5.96

6.10

6.40 6.70

6.85 7.00 7.16

4.90

5.04 5.19

5.34 5.49

5.64 5.79 5.95

6.11

6.26 6.42

6.59

6.75

8.28

7.63

7.25

8.59

7.95

8.74

7.47

7.79

8.12

8.86

8.28

9.20

8.62

9.52

8.95

9.05

9.36 9.68

7.59

7.76

7.93

8.78

8.45

9.12

9.29

10.16

9.63

9.46

10.65

10.15

11.97

10.98

12.28

11.31

10.49

7.42

8.10

9.84

10.00

7.08

8.45

11.66

12.13

4.76

6.91

9.80

11.82

4.61

7.32

10.32

11.52

4.34

7.99

8.44

7.69

9.62

9.48

10.48

10.50%

7.55

12.19

12.97

10.25%

7.41

8.14

9.75%

7.12

9.34

6.85

11.94

10.19

10.00%

5.67

5.82

6.55

11.19

8.40

12.71

6.57

7.26

11.07

9.25%

9.50%

6.44

5.40

6.25

8.14

6.17

6.98

12.32

9.00%

7.38

8.27

8.50% 8.75%

5.13

10.94

10.82

5.91

6.74

12.06

4.86

8.01

8.00% 8.25%

7.26

5.66

10.70

7.02

30 Years

9.97

8.28 8.63

8.80 8.98 9.16

9.34

9.52

9.70

9.88

10.81

10.32

10.06

11.15

10.67

10.43

10.49

10.85

10.25 10.61

This table shows the monthly payment of principal and interest for each $1,000 of mortgage. Example: The monthly principal and interest payment for a $125,000 mortgage with a 25-year amortization period at 5% is as follows: ($125,000 รท 1,000) X 5.82 = $727.50 february 1 - 15, 2014 | New home & condo guide SWO 73

067_072-074 Homebuyers Resource_BD.indd 73

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Compare mortgage rates for your best deal CHARTERED BANKS

Variable

6 Months

1 Year

2 years

3 years

4 years

5 years

ATB Financial 2.7 2.94 2.89 2.99 3.39 3.69

6.30op 6.30op 6.50op Alterna Svgs/Alterna Bk 3 4 3.09 3.14 3.19 3.35

6.30op 6.30op Bank of Montreal 3 4 3.14 3.04 3.85 4.64

6.30op 6.30op Bank of Nova Scotia 2.6 4.55 3.75 2.79 3.99 4.39

6.45op 6.50op Canadian Western Bank 4 3.14 3.14 3.85 4.64

6.45op 6.30op CFF Bank 3.69 3.75 3.79 3.79 CIBC 3 3.09 2.79 2.99 3.39

6.70op 6.35op HSBC Bank Canada 3 4.45 2.7 3.95 3.13 4.99

6.20op 6.35op ICICI Bank Canada 3.05 3.15 3.65 3.64 3.69 ING Direct 3 3.19 3.24 3.59 3.69 Manulife Bank 2.7 4.45 3 3.05 3.1 3.4

4.00op National Bank n/a 4.4 3.14 3.14 3.95 4.64

6.70op 6.70op President’s Choice Finan 3 3.24 3.59 3.69 Royal Bank 3 3.14 3.04 3.75 3.39

6.30op 6.30op TD Canada Trust 3 3.09 2.89 3.75 4.64

6.30op

3.59 3.69 3.49 5.24 3.69 3.69 3.69 3.89 4.09 3.59 5.24 4.09 3.69 3.69

TRUST COMPANIES Community Trust n/a Effort Trust n/a

Home Trust Company 2.6 Investors Group Trust n/a

MTCC 2.6

6.5 4.45 6.30op 3.95 4.2 6.50op 4.55 6.45op

3.14 3.25 3.95 4.74 3.25 3.6 3.95 4.7 6.30op 2.89 2.89 3.09 3.39 3.14 3.14 3.9 4.64 6.30op 3.75 2.79 3.99 4.39 6.50op

5.34 4.95

Airline Financial C.U. 4

Comtech Credit Union 2.95 6.2

6.40op First National Fin. LP 3.95 FirstOntario C.U. 2.7

6.34op London Life n/a 4.2

6.50op Luminus Financial 2.95

MCAP 2.65

Meridian Credit Union 2.75 4

Parama Credit Union 2.85 Steinbach Credit Union 2.5

3.01 3.1 3.33 3.65 6.25op 2.99 3.25 3.29 3.24 6.30op 2.99 2.69 2.99 3.39 3.09 3.14 3.29 3.34 6.34op 3.14 3.14 3.95 4.74 6.30op 3.2 2.8 2.95 3.55 6.3 3.6 3.95 4.35 4.89 7.00op 3.09 3.14 3.65 3.49 6.30op 3.05 3.1 3.25 3.4 2.7 3 3.1 3.25

3.99

3.49 5.24 3.49

OTHER FINANCIAL INSTITUTIONS

3.59 3.49 3.49 5.34 3.6 5.14 3.59 3.6 3.45

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

R.O.R. RATES ON REQUEST op OPEN ----- NOT QUOTING N/A NOT AVAILABLE January 27, 2014. Prepared By Fiscal Agents Financial Information Services 905.844.7700

74 New home & condo guide SWO | february 1 - 15, 2014

067_072-074 Homebuyers Resource_BD.indd 74

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IN THE MARKET FOR A

NEW HOUSE

OR A CONDO?

We think finding a home is a lot more than simply finding the right property.

That’s why we put you right in the middle of the search process.

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Find out about nearby services and amenities

View new construction projects and register to get the latest info

Visit the new real estate section on canpages.ca and start looking for that special place.

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FEBRUARY 1 - 15, 2014 | NEW HOME & CONDO GUIDE SWO 75

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Advertiser index mattamy homes: Wildflowers

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Bayview Wellington: Victoria Village

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Bayview Wellington: Niagara-on-the-Green

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menkes developments: Enclaves of Upper Canada

35

branthaven Homes: Multi-site

12 & 13

bucci Homes: Bliss

37

Countrygreen Homes: The Uptowns of Waterdown

eastforest Homes: Corporate

Empire Communities: Multi-site

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79

reid’s heritage: Corporate

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11

rosehaven homes: Corporate

39

Homes by DeSantis: On the Ridge

49

Rosehaven Homes: On the Ridge

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kingwood homes: Village on the Grand

30

tillsonburg developments: Baldwin Place

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williamsburg homes: Eby Estates

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76 New home & condo guide SWO | february 1 - 15, 2014

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FUNDAMENTALLY SPEAKING//

When and how

to plan your financial future? » by WAYNE KARL

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@wall2wallmedia.com

or follow him on Twitter at Twitter.com/WayneKarl

Nothing is certain but death and taxes, as several famous authors have waxed in various forms. Canadians, however, seem to have a curious way of preparing for the inevitable, at least on the latter subject.

While the deadline for contributing to Registered Retirement Savings Plans (RRSP) for the 2013 tax year is March 3, and for filing a return April 30, many Canadians still take it right down to the wire – especially on the first point.

Indeed, as many experts suggest, the best tax planning should begin during the year – not approaching such deadlines.

But, like death, perhaps Canadians don’t like to think about taxes, viewing them as an equally unsavoury topic.

How else would you explain that, looking at the bigger picture, we are seemingly short-sighted: personal finance and taxes are not subjects that are taught to any depth in our public education system. David Chilton lamented this fact in his 1989 best seller, The Wealthy Barber. Almost 25 years later, the challenge still exists – for Canadians of every age.

Consider, for example: » A new poll from CIBC shows that Canadians’ top financial priority in 2014 is paying down debt – the fourth consecutive year it has topped the list. Retirement planning, however, is dropping: in 2011, it was ranked a priority by 13 per cent of Canadians; for 2014, just seven per cent. Perhaps there is something to all those warnings from the federal finance ministry for Canadians to watch their personal debt loads, even in these days of still historically low interest rates. Or is it that Canadians include their mortgage in “paying down debt,” and thus building equity relieves some of the pressure to max out their RRSP contributions? » Interestingly, another new poll, this one from RBC, suggests the opposite: 52 per cent of Canadians are focusing on increasing their retirement savings, and 48 per cent on debt reduction. Also notable is a significant jump in RRSP ownership among 35 to 54 year olds – to 62 per cent from 52 per cent last year. According to RBC, “Canadians are more comfortable with how they are managing their debt, and this is allowing them to focus more strongly on retirement savings this year.”

» And just to muddy the waters even further: according to the BMO Financial Group RRSP Study, many Canadians are getting a head start on saving for retirement this year. More than one-third (35 per cent) of Canadians reported that they have already contributed to an RRSP before the March 3, 2014 deadline. This is up five per cent from this time last year.

Th ree different financial institutions, three different takes on personal finance. Are we saving too little?

Spending too much? Or, Goldilocks, is everything just right?

Indeed, the answers depend on your own circumstances and personal situation.

But here are some general tips from these and other sources: » Meet with a financial advisor to devise your strategy, including plans to buy a home, reduce debt and save for retirement. » Contribute to RRSPs regularly, even if smaller amounts throughout the year to avoid having to come up with a large lump sum at deadline time. » Manage and budget your spending, to better control where and how you spend and identify opportunities to save. » Remember that your finances are connected. Making progress on one aspect of your goals can lead to an opportunity to improve in others.

Taxes are indeed certain, so planning to minimize what you pay, while maximizing your assets and developing the discipline to do both, is a sound strategy.

FEBRUARY 1 - 15, 2014 | NEW HOME & CONDO GUIDE SWO 77

077 FS Jan25 2014_BD-VB-WK.indd 77

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THOROLD ROLLING MEADOWS

Model Home Compliments of Great Gulf.

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FEBRUARY2014 Great Gulf has been featured as “MODEL HOME OF THE MONTH” as seen in the new home & condo guide model home calendar

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Build with the best.

Reid’s Heritage Homes is recognized as an industry leader – named 2013 Ontario Home Builder of the Year, and honoured with many environmental, quality, customer service, and employee satisfaction awards.

All of this simply underlines the reality that when you choose a home in one of Reid’s Heritage Homes’ fine communities throughout Ontario, you are investing in the best: the best quality, the best reputation, the best team – the best for you and your family.

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