Southwestern Ontario New Home & Condo Guide - February 2, 2013

February 2 - 16, 2013 Volume 16 Issue 02

MODEL HOME GRAND OPENING!

INSIDE THIS ISSUE

SWO ECONOMY TO GAIN FROM U.S. GROWTH

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CITY FOCUS: HAMILTON STILL HUMMING ALONG

WHY NOW IS A GOOD TIME TO BUY NEW

1/30/13 2:51:13 PM

The Deal of a Lifetime.

There’s never been a better time to buy an Empire home.

Get the best price on your new Empire Communities home and historically low interest rates. All of our amazing communities are master‑planned, with parks, schools and friendly front porches. Buying now is truly the deal of a lifetime.

T H E Y EA

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EMPIRE IS ENERGY STAR PLUS!

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EMPIRE IS ENERGY STAR PLUS!

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Prices, sizes and specifications are subject to change without notice. E.&O.E. Map not to scale. *Please see Sales for full details. Exclusive listing brokerage: TFN Realty Inc. Brokers Protected.

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mattamyhomes.com

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Wildflowers will be our very first master-planned community in Kitchener. It will be home to hundreds of families who will enjoy the great communal features such as park spaces, playgrounds, walking/biking trails and ponds scattered throughout the neighbourhood. There’s a mature forest bordering the community, so evening walks will be inspirational. Neighbourhood paths will be connected to the Huron and Trillium natural trails. There is a school planned to be built right into the community and there will be local shops adding to the convenience of living here. Wildflowers will offer a wide selection of stylish and affordable Townhomes and elegant Detached Homes. There will be a wide variety of architecture to add individual character to each streetscape. Soon inspired living will open in Kitchener.

Pre-Register today at www.mattamyhomes.com 6

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

SW_NH&C_Wildflowers Feb2.indd 1 006-Mattamy-Wildflowers 02-02-13.indd 6

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FEBRUARY 2 - 16, 2013 | NEW HOME & CONDO GUIDE SWO 7

1/30/13 1:55:04 PM

contents

FEBRUARY 2 - 16, 2013

||

VOLUME 16 ISSUE 02

36

44

48

cover story

p.14

52

GERANIUM HOMES opens new model homes at The Village at Sally Creek in Woodstock

regular and special features IN EVERY ISSUE 10 EDITOR’S NOTE

75 76

community focus features IN THE NEWS 16 BMO

36

18

WRHBA

44

30

EMPIRE COMMUNITIES

Stronger U.S. growth to support economy in SWO

HOT DATES AD INDEX

COLUMNISTS 24 MONEY MATTERS

12 steps to getting financially organized by Gail Vaz-Oxlade

40

62

HOMEBUYERS’ HELP 19 HOT SHEET

by Mathieu Langelier

22

TAX MATTERS

31

HOT SHEET

56

CITY FOCUS

60

HOT SHEET

69

HOMEBUYERS’ RESOURCES

Hamilton housing market holding its own

QUICK TIPS

Waterloo

The impact of ‘stuff’ THE MORTGAGE MINUTE

Why real estate investing still makes sense

by Peter Kinch

77

partners up for a new community in Niagara

HHHBA REPORT

by Hellen Buttigieg

66

David Chilton to speak at WRHBA’s Industry Luncheon

FUNDAMENTALLY SPEAKING

Planning to buy new? Now is still a good time to buy

by Wayne Karl

008 TOC_AY-WK.indd 8

Canadians juggle various needs with retirement plans

MULTI-SITE

Rosehaven Homes

2013 promises to be a grand year for Rosehaven Homes GEORGETOWN

Menkes Developments Enclaves of Upper Canada an Energy Star community bordering conservation lands

48

BURLINGTON

Adi Development Group Mod’rn Condominium brings contemporary style to Burlington

52

BEAMSVILLE

Homes by DeSantis launches innovative $10,000 cash back program at Lincoln Square

Hamilton Hamilton – still humming along

London

Mortgage Calculator & Rate Table

1/31/13 1:49:43 PM

ice skating

ice cream

Mountainview’s prices

good things come frozen. To celebrate the chilly winter, we’ve frozen our 2012 prices at all Mountainview communities! plus for a limited time receive $3,000 off townes $5,000 off singles!

NIAGARA FALLS

NIAGARA FALLS

THOROLD

NIAGARA FALLS

FONTHILL

WELLAND

BEAMSVILLE

RIDGEWAY

mountainview.com | 905-323-6232 february 2 - 16, 2013 | New home & condo guide SWO 9

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editor’snote

Think you can’t afford a home? It’s more affordable than you first thought

M

uch like that bank commercial that says, “You’re richer than you think,” a new home may be more affordable than you originally thought. Perhaps you need only to change your definition of “home” to get into the market. While a detached home is the traditional choice for many, highrise and lowrise suites, lofts and townhomes have become a prime choice among first-time buyers and empty nesters in the market for new place to call home. Not only does townhouse and condominium living afford you the opportunity to live in a prime neighbourhood at a great starting price, when it’s time to move you can often opt to remain in the same neighbourhood, since many communities offer a mix of designs and sizes, which allows families to relocate easily without having to change jobs or schools. Today’s communities generally have a range of sizes and prices that start at the “affordable” end of the price spectrum. This winter, many builders and developers are gearing up for their grand openings and have new communities available for quick occupancy. It’s an exciting time to be shopping for a new place, so don’t miss this excellent buying opportunity. Have a look through this issue and see what you think. The home of your dreams is waiting.

VICE-PRESIDENT, WALL2WALL MEDIA

Jacqueline Hill

ASSOCIATE PUBLISHER

Susan Maxwell

EDITOR-IN-CHIEF, NATIONAL REAL ESTATE

Susan Legge ART DIRECTOR

Julie Yoo EDITOR

Wayne Karl CONTRIBUTING EDITORS

Janine Druery Elisa Krovblit Silvana Longo Lydia McNutt (on leave) Sara Duck (on leave) DISTRIBUTION & SALES CO-ORDINATOR

Jennifer Bistron

ADMINISTRATIVE ASSISTANT

Antoinette Jackson

MANAGER OF PRODUCTION

Bala Gnanapandithan CO-ORDINATOR

Laura Northmore GRAPHIC DESIGNER

Alexander Yakubovich NATIONAL ACCOUNT MANAGER, MEDIATIVE

Susan Legge EDITOR-IN-CHIEF

Paul Slizys

Wall2Wall Media, susan.Legge@wall2wallmedia.com

Joanne Keenan Jeffrey Reed

Follow me on Twitter at Twitter.com/SusanLegge

CONTRIBUTING WRITERS

PUBLISHED BY

High performance in lowrise Challenges notwithstanding, there’s no denying the strength of lowrise homes

N

o one can debate the increasing popularity of highrise home options in Ontario over the last 10 years or so. Recent statistics from home building associations in Southwestern Ontario, the GTA and elsewhere in the province illustrate to what degree condos are an increasingly favoured new home choice, due to price point, proximity to amenities and other reasons. Hamilton, for example, is seeing a shift towards higher-density housing, while lowrise starts are seeing more concentration in surrounding communities. In his column on page 40, Hamilton-Halton Home Builders’ Association Executive Officer Mathieu Langelier cites some of the challenges facing his industry – chief among them a lack of available land and regulatory hurdles. The net result for lowrise homes – in Hamilton and elsewhere in the province – is lower levels of supply and higher prices. Since such issues are not going to be resolved overnight, lowrise opportunities that do come available are usually snapped up by the market. For qualified buyers, this means continuing strong performance of this home type.

Wayne Karl EDITOR Wall2Wall Media, wayne.karl@wall2wallmedia.com Follow me on Twitter at Twitter.com/WayneKarl

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

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

CIRCULATION: Free distribution. Published bi-weekly from Sept.-Nov. & from Feb.-June and monthly in June, July & Dec. 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. COPYRIGHT 2013: 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. 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 2 - 16, 2013

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U9041_NHC_Cashback_Jan28_U9038_NHC_Cashback_Jan28 1/29/13 9:09 AM Page 1

10,000

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5% Down • Flexible ‘Low Deposit’ Program Executive Freehold Towns Spacious Detached Homes

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Sales Office Hours & Location Sales Centre: Intersection of Ontario & May Street, (Serena Drive), Beamsville Hours: Monday - Thursday 1pm - 6pm Saturday & Sunday 12pm - 5pm Fridays by appointment only

Register now on your mobile device For community updates and more follow us on:

289.566.8889

HomesByDeSantis.com † Based on a 5yr. variable rate closed, includes principal and interest, at 3.19% interest rate on a Lincoln model townhome with $10,000 discount applied to purchase price on closing. 5% downpayment 25 yr. amortization . * Cash Back” refers to discount off purchase price that will be credited upon final statement of adjustments towards sale price. Illustrations are artist’s concept. Prices and specifications subject to change without notice. E. & O.E. January 2013

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coverstory

01

GERANIUM OPENS NEW MODEL HOMES

to help you right-size your lifestyle

N

ow it’s even easier to envision yourself as part of The Village at Sally Creek, Woodstock’s premier four-season adult-lifestyle community. Once again, Geranium Homes has collaborated with award-winning design team Bryon Patton and Associates to complete three new model homes. The models showcase how easy it is to live comfortably in a home that’s sized just right. In a perfect combination of thoughtful design, construction quality and interior finishes, Patton’s décor demonstrates the incredible features in Geranium’s collection of semi-linked and fully detached bungalows and bungalow-lofts in this established neighbourhood. An elegant 1,804-sq.-ft. two-bedroom detached bungalow, The Bayside “Country Estates” is decorated in earth tones with accents of blues and

yellows. Natural woods and rich leather enhance the welcoming atmosphere. This home features a Great Room with a gas fireplace and cathedral ceiling, kitchen with an island breakfast bar, sun-filled morning room and open-concept living/ dining room. The exceptional Wentworth model with optional loft is a grand 2,716-sq.-ft. residence. Inspired by Florida’s sparkling Gulf Coast, Patton calls this decor “Sanibal Sunset” and used a palette of sunny yellow

14 New home & condo guide SWO | february 2 - 16, 2013

014-015 Cover Story Geranium_AY-WK.indd 14

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and crisp white with pops of bold accent colours and lively textures. The home’s voluminous Great Room flows into the expansive kitchen and dining area. The Ryder collection semi-link model 2902 is built with both the optional loft and finished walkout basement for a total living space of 3,061 sq. ft. This “Deco Villa” model features a combination of antique elements and art deco style. The loft-space overlooks the large Great Room and the kitchen is a delight to entertain in with its huge wraparound breakfast bar. 02 Sally Creek residents can walk to the nine-hole executive golf course and yearround Bistro and Geranium’s purchasers receive a free one-year golf club membership for two. Every home in the adult-lifestyle neighbourhood comes with membership to the community’s Recreation Centre, the first phase of which is completed and in use. Sally Creek also features stone entry gates, gazebos, gardens, pedestrian-friendly streets, plenty of greenspace and trails. Geranium’s residences are 2012 Energy Star for New Homes rated (the highest available), third-party tested and verified, for savings from the day you move in. Exteriors combine long-lasting, low-maintenance clay brick, stone veneer and Hardie Board siding. Interiors have nine-ft. main floor ceilings, quality kitchens with extended-height 03 cupboards, ceramics, laminate flooring and beautiful broadloom (all as per plan). Geranium’s semi-linked bungalows on walk-out basement lots range from 1,391 to 1,604 sq. ft. for standard plans, prices start at $289,900 to $334,900. Some premium lots backing onto the golf course are available. Seven fully detached designs range from 1,479 to 2,067 sq. ft. on 50-ft. lots overlooking the golf course. Prices start from $339,900 to $424,900. Loft options are available on some plans, plus finished basement space on the semi-linked walkout designs. A $10,000 Upgrades Bonus is now offered, plus a Rogers package of services. Closing dates are available starting summer 2013. Geranium Homes has received the highest industry awards: The Building Industry and Land Development (BILD) Association’s 2012 Home Builder of the Year and the 2011 Canadian Home Builders’ Association Grand SAM Award. Woodstock is home to 350 hectares of parkland and open spaces, live theatre, a hospital, local transit system, recreation facilities, social clubs, dining, shopping and a farmer’s market. The Geranium Homes sales centre is on Fairway Road at Vansittart Avenue (Hwy. 59 in Woodstock). Hours are 11 a.m. to 5 p.m. Saturday to Wednesday. Closed Thursday and Friday. Call Geranium at 519.290.3466 or 855.457.2559 or visit geraniumhomes.com

GERANIUM HOMES

The Village at Sally Creek

pictured

01 Bayside – living/dining room 02 Wentworth – Optional loft 03 Ryder – kitchen with loft

location Woodstock housing type Semi-linked and fully detached bungalows and bungalow-lofts sales centre Fairway Road at Vansittart Avenue (Hwy. 59 in Woodstock), open 11 a.m. to 5 p.m. Saturday to Wednesday. Closed Thursday and Friday contact 519.290.3466 | 855.457.2559 geraniumhomes.com

february 2 - 16, 2013 | New home & condo guide SWO 15

014-015 Cover Story Geranium_AY-WK.indd 15

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inthenews

Stronger U.S. growth to support SWO economy in 2013: BMO Economics

Continued investment in the auto sector

represents a bright spot for the Ontario economy, according to the latest Provincial Monitor report from BMO Economics. Real GDP is expected to grow at the national average of 1.7 per cent in 2013, with momentum picking up later in the year once U.S. growth begins to run at a three per cent-plus clip. “While auto production has leveled off in recent months, output in the sector was still up 16 per cent year-over-year in 2012,” says Robert Kavcic, senior economist, BMO Capital Real GDP is expected to Markets. “Auto producers grow at the national average continue to invest in North of 1.7 per cent in 2013, America and, despite a strong with momentum picking currency and higher labour up later in the year once costs compared to the U.S. growth begins to run at southern U.S. and Mexico, a three per cent-plus clip. Ontario is no exception.

Toyota, for example, is expanding production at its Woodstock assembly plant – about 400 jobs. Still, Ontario’s manufacturing base is not immune to a strong loonie and relatively high labour costs.” While interest rates, the loonie and the U.S. economy remain top issues for Ontario businesses, our commercial customers continue to show optimism about their business prospects,” says Janet Peddigrew, district vice-president, BMO Bank of Montreal. “The availability of credit and attractive investment opportunities contribute to this optimism, despite the potential challenges.” The housing market faces some cooling in the province, and the stricter mortgage rules introduced last July are impacting sales activity. “Existing home sales in Toronto slid nearly 20 per cent year-overyear in December, and price growth has cooled notably,” says Kavcic. “In the condo segment, for example, average prices were slightly below year-ago levels in December; barring a snapback in demand during this spring’s selling season, they could face continued downward pressure as a wave of completions potentially hit the resale market in 2013.” Job growth was a sluggish 0.8 per cent in 2012, though momentum picked up later in the year alongside gains in the service sector. “The jobless rate ended 2012 at 7.9 per cent, up 0.2 percentage points from the end of 2011, and is expected to fall only modestly in the year ahead before better momentum takes hold in 2014,” says Kavcic. The Province of Ontario has lowered its fiscal 2012-13 deficit projection by $782 million since the budget, to $14.4 billion, thanks to higher revenues generated by better-than-expected economic performance in 2011 and early 2012, and the introduction of a high-income tax bracket. However, the shortfall remains hefty at about 2.2 per cent of GDP, the deepest gap among all provinces. Longer term, the timing for a balanced budget is unchanged at fiscal 2017-18.

16 New home & condo guide SWO | february 2 - 16, 2013

016 News BMO Economics Ont_AY-WK.indd 16

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Right Size Your Lifestyle In The Village At Sally Creek

Simply Spectacular

Fabulous Models Now Open! ✔ Tour 3 models decorated by acclaimed designer Bryon Patton. ✔ Open concept bungalows with exciting loft options. ✔ Sensational walk-out and golf course lots. ✔ Woodstock’s 4 season adult lifestyle golf course community. ✔ Steps to Sally Creek Golf Course, Bistro and on site residents only recreation centre. ✔ Minutes to the new Woodstock Hospital, downtown shopping and dining, Theatre Woodstock and Highway 401 and 403.

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Sat & Sun, Mon - Wed 11am – 5 pm Or by appointment 17 rt sitta Van

Semi-Links & 50’ Lots

A magnicent sweeping oak staircase leads to the optionl loft

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BILD 2012 HOME BUILDER OF THE YEAR CHBA 2011 GRAND SAM AWARD WINNER

Sizes, prices and specifications are correct at press time and subject to change without notice. The ENERGY STAR® mark is administered and promoted in Canada by Natural Resources Canada. Used with permission. E.&O.E.

WQ-1166 NHG SWO AD -01.16.13.indd 1

1/28/13 3:41:46 PM

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inthenews

David Chilton of CBC’s Dragons’ Den set to inspire audience at local home builders’ event On Tuesday, April 30, 2013 at

Combining knowledge and humour, he will illustrate how a healthy outlook can lead to positive results, despite what life throws at you.

Bingemans’ Ballroom, the Waterloo Region Home Builders’ Association’s (WRHBA) Industry Luncheon will feature David Chilton, renowned author and the newest “Dragon” on CBC’s The Dragons’ Den. WRHBA’s Industry Luncheon is the Association’s leading networking event. Annually, more than 500 community and business leaders stemming from all sectors within the residential development and construction industry attend this premier event. As an entrepreneur and financial guru, Chilton is best known as the author of The Wealthy Barber. His informative and inspirational keynote address will provide a truly unique perspective on life. Combining knowledge and humour, he will illustrate how a healthy outlook can lead to positive results, despite what life throws at you. Chilton’s high energy, charm and unpretentious approach is sure to motivate, educate, entertain and leave an enhanced drive and lasting impression on all who attend!

18 New home & condo guide SWO | february 2 - 16, 2013

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halton hills wellington waterloo

hot sheet

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 gemini homebuilders Guelph | The Highlands Coming soon – executive townhomes and semis – register today.

geminihomes.ca

queensgate & losani homes Kitchener | Victoria Common Coming soon – carefree living condo suites and townhomes in downtown Kitchener-Waterloo.

victoriacommon.ca

the tricar group Guelph | RiverHouse Condominiums Luxury urban condos from the mid $200’s, with panoramic city and river views.

riverhouseguelph.ca

Vanmar Guelph | V2 Condos Coming soon to south Guelph, an intimate midrise condominium only minutes to nature trails, golfing, dining and shopping.

new openings

new releases

hasstown holdings Cambridge | The Grand

reid’s heritage homes Fergus | Highland Hills Final building selling fast in this masterplaned community of two- and threebedroom condominium suites. reidsheritagehomes.com

Grand opening continues for these exciting new condominium residences on the Grand River.

grandcondo.ca

gemini homebuilders Guelph | Morning Crest New phase of development, including 30-ft. lots and semis, now available. Walkout and lookout lot options. Starting in the low $300’s.

geminihomes.ca

claysam homes Guelph | Creekside Freehold walkout townhomes starting at $299,900.

claysamhomes.com fusion homes Waterloo | Vista Hills

Premium home designs on 40- and 50-ft. lots in secluded community of Vista Hills.

fusionhomes.com

v2condos.ca

dunsire developments Kitchener | Mill Creek Village

mattamy homes Kitchener | Wildflowers

Model homes are under construction at these townhomes in a central location, close to schools, amenities, highway access and the future LRT. Starting at $236,990.

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

mattamyhomes.com

Almaa Ayr Cambridge Elora Fergus Georgetown Guelph Kitchener Rockwood Waterloo

gemini homebuilders Guelph | Creekside Already 30 per cent sold, these semis are at the heart of a community full of shops, schools and parks. Move-ins available for late summer or early fall.

geminihomes.ca

monarch Kitchener | The Poplar Designer decorated model home, 2,464 sq. ft. at $479,990.

monarchgroup.net

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

fusionhomes.com

millcreekvillage.ca

menkes Georgetown | The Enclaves of Upper Canada Now previewing – semi-links and 30-ft. detached homes in Georgetown.

menkes.com

february 2 - 16, 2013 | New home & condo guide SWO 19

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Plattsville

Breslau

Milton, Georgetown, Rockwood, Guelph, Fergus, Elora, Alma, Cambridge, Kitchener, Waterloo, Ayr

Halton Hills / Wellington / Waterloo:

Acton

Prices

Cambridge

haastown holdings

The Grand

Collingwood

Reid's Heritage Homes

Lora Bay

Guelph

melloul-blamey construction Serene Condos

Kitchener

BRANTHAVEN HOMES

Joy

Kitchener

BRANTHAVEN HOMES

Nestings

Kitchener

DUNSIRE DEVELOPMENTS

Mill Creek Village

Kitchener

MATTAMY HOMES

Wildflowers

•

•

Kitchener

LOSANI

Doon Creek

•

from the $300's

51

Kitchener

REID'S HERITAGE

Eby Estates

•

from $339,900

23

• •

Page

•

from $209,900

25

•

from $375,100

BC

•

from high $200's

29

•

from the $240's 12&13

•

from the $400's 12&13

•

from low $200's

27

6

Milton, Georgetown, Rockwood, Guelph, Fergus, Elora, Alma, Cambridge, Kitchener, Waterloo, Ayr

Builders SiteS

Halton Hills / Wellington / Waterloo:

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

Location

21

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taxmatters

Canadians struggle to address children’s education, aging parents and own retirement needs: RBC poll Canadians (aged 18 to 54) are concerned that their

ability to save for retirement will be impaired both by saving for their children’s education (48 per cent) and by taking care of their aging parents (36 per cent), according to the 23rd Annual RBC RRSP Poll. Despite the potential strain of these family priorities on their retirement savings, more than half (57 per cent) of Canadians aged 18 to 54 say their parents’ retirement experience has shaped their expectations of retirement. “While Canadians may see their parents’ retirement experience as a model for what to expect, the reality is that their retirement may not be the same, particularly if they are part of the sandwich generation with both aging parents and school age children,” says Amalia Costa, head, retirement strategies, RBC. “Canadians know that juggling competing financial priorities creates enormous strain on both time and money. A financial advisor can make it easier to develop a retirement plan to balance your financial commitments and family life.” Retirement will likely look different for the next generation of retirees, as employer-sponsored pension plans become more rare. The RBC poll found that one-quarter (26 per cent) of Canadians (aged 18 to 54) expect a pension income from an employer to be their primary source of income in retirement and, similarly, fewer than one-in-five (18 per cent) of them have a defined benefit pension plan. “The growing demands on time and money can make meeting retirement goals a challenge, but Canadians don’t have to do this on their own,” adds Costa. “Taking the time to meet with a financial advisor is one of the best investments you can make in your financial future. An advisor can help review your financial priorities; understand your income sources and your savings and investment options – all to help make your retirement goals a reality.”

Costa provides the following practical advice to help you live for today and save for tomorrow: » Show me the money: Look for hidden sources of contribution funds. If you have debt, take advantage of lower interest rates to reduce your overall borrowing costs and free up some of your monthly cash flow. For example, you can do this by consolidating higher interest credit card balances into a loan or home equity line with a lower interest rate. » Automate your savings habit: Get into the good savings habit of paying yourself first by setting up an automatic contribution plan to coincide with your payroll deposit. The funds will come off the top and are often not missed. » Start thinking about your retirement income plan: If you are within a few years of retirement, switch your focus to establishing your retirement income plan. Translate your vision for the lifestyle you want in your retirement into financial requirements and work with an advisor to learn about your new sources of retirement income and how these will fund your new lifestyle.

22 New home & condo guide SWO | february 2 - 16, 2013

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february 2 - 16, 2013 | New home & condo guide SWO 23

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moneymatters

12 steps to getting

financially organized by gail vaz-oxlade

SET-UP 1 | Gather all your paperwork. Create a file folder for each of the following: ›› Chequing accounts ›› Savings accounts ›› Retirement accounts ›› Investment accounts ›› Credit card accounts ›› Loans ›› Personal lines of credit ›› Mortgage ›› Insurance: life, disability, health, critical illness, home, car ›› Tax returns ›› Estate: wills and powers of attorney 2 | Welcome to 21st century banking If you don’t already have it, set up telephone or Internet banking for your accounts.

3 | Reduce fees by setting up a buffer If you can afford it, transfer $1,000 float to your chequing account (pretend it isn’t there) and use that to minimize your banking costs. 4 | Save automatically Create an auto-debit from your chequing account to a savings account that will not be touched. Most people won’t put money into a savings account on a regular basis, opting to wait for a tax-refund or bonus before setting aside some money for the future. Establish an automatic savings deposit every month and your nest egg will accumulate faster than you think. 5 | Create a monthly bill summary List your bills in the date order they need to be paid to prevent you from missing a bill. If you have bills that are paid automatically from your account, write an “A” c o n t i n u e d o n pa g e 2 6 . . .

24 New home & condo guide SWO | february 2 - 16, 2013

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moneymatters |

CONTINUED

beside these bills and remember to deduct them from your spending journal at bill payment time each month. 6 | Set up your in baskets create an in basket with two bill folders labelled “1-15” and “16-31.” When a bill comes in, look at the due date and put the bill it in the appropriate folder. Recycle all the marketing crap in the envelope. create a second in-basket with three folders labelled “bank statements”, “bills paid” and “tax receipts.” WEEKLY 7 | make a date with your money on the 12th and 28th of each month, set aside the time in your schedule – you’ll need about 30 minutes – to pay your bills. always pay your bills in one place – a place that you’ve equipped with the following: your bill paying system, a spending journal, envelopes, stamps, pens, pencils, a calculator, tape, a stapler, return address labels and a recycling bin. When you pay a bill, write the cheque or transaction number, amount paid and the date you paid it on the bill. put the paid bill in your “Bills paid” file. deduct the amount you’ve spent from your spending journal. if a bill has not been paid in full (tax bills are paid over several months, for example) put it back in your folder so you don’t forget it. moNThLY 8 | Reconcile your bank statements When your bank statements come in, put them in your inbox folder. Make a date when all your statements are in (it will depend on when you receive them) to: ›› Review your statements to make sure there are no mistakes

Gail Vaz-oxlade is the host of Til Debt Do us Part, author of Debt Free Forever and blogs daily at gailvazoxlade.com. follow Gail on Twitter at twitter.com/GailVazOxlade

›› Reconcile your spending register; clearly mark the cheques that have been returned to you and highlight the ones in your spending register that haven’t yet cleared the bank. a cheque that takes a long time to clear in the bank can lull you into thinking you have more money than you do. go back at least a month to make sure all previous cheques have cleared. ›› talk about anything unusual QUARTERLY 9 | File once a quarter, file all of your paperwork to keep your system current. 10 | Talk Have dinner with your business partner and talk about the bumps, your goals and how you’re doing. ANNuALLY 11 | Revamp your budget Review your budget using last year’s credit card and bank statements to see what you actually spent. if you spent more on a particular category, make sure you know why or look for ways to trim. 12 | Clean up go through your files at the end of each year and throw out bills and receipts no longer needed for auditing/ budgeting purposes.

most people won’t put money into a savings account on a regular basis, opting to wait for a tax refund or bonus before setting aside some money for the future. establish an automatic savings deposit every month and your nest egg will accumulate faster than you think.

26 NeW home & CoNdo Guide SWo | february 2 - 16, 2013

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1/31/13 1:50:49 PM

Following the tremendous success of Waterscape Phase 1, Haastown is now opening the second and final phase of this exclusive condominium community. The Grand at Waterscape is a brand new 12 storey contemporary residence designed for

Lingerthose overseeking a morning espresso on your riverside living at itsbalcony finest. enjoying the spectacular view over the river. It’s a panoramic vista you’ll never grow weary of at The Grand. All just a short stroll from All offering you not only an incredible setting but truly exceptional value.

The views will last forever…this opportunity will not!

GrandCondo.ca

209,900

$

Here the most breathtaking views of the Grand River await you each morning in a sophisticated FROM Cambridge’s historic downtown, and minutes from shopping, dining or a night at the theatre. location, steps from the shops, live theatre and restaurants of the city’s historic downtown.

CAMBRIDGE

GrandCondo.ca

Sales Centre: 170 Water St. North, Cambridge, Sales Centre: Water St. North, Hours: Mon.-Fri. 170 1p.m. – 7p.m., Sat. &Cambridge, Sun. 1p.m. – 5p.m. Hours: Mon.-Fri. 1p.m. – 7p.m., Sat. & Sun. 1p.m. – 5p.m. Prices and specifications are subject to change without notice. E. & O.E. Prices and specifications are subject to change without notice. E. & O.E.

View our Furnished Model Suite Today! HAAS-GRA-A-AD-NHC-SW-OCT10-1.indd 1 025-Haastown Holdings 10-13-12.indd 25

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MarshallZehr

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KITCHENER A NEw hOME cOMMUNITy bROUGhT TO yOU by

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CreekFORMATS Village 01-19-13.indd NAL LOGO:027-Dunshire-Mill ACCEPTABLE FOR27USAGE

27

1/30/13 1:55:39 PM

Chinese Home & Condo Guide C

hinese home and condo buyers

十一月二十四日至二月二日 Nov 24, 2012 - Feb 2, 2013

and investors now have a new

comprehensive, full gloss real estate magazine to inform and guide them through the buying process in the Greater Toronto Area. Launched in 2012, the Chinese New Home and Condo shopper and investor will have a valuable new resource to help inform and guide them through the newest communities in the Greater Toronto Area. Pick Up Your Copy Today or call us for a free copy at 416.626.4889!

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28 NEW HOME & CONDO GUIDE SWO | FEBRUARY 2 - 16, 2013

028-GTA Chinese New Home.indd 28

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Gordon St.

6

SALES OFFICE

SITE

GUELPH

Brock Rd.

Arkell Rd.

401

Take Exit 299

MILTON

6

QEW

BURLINGTON OAKVILLE

Get more at Serene in Guelph from the high $200’s **

CONDOMINIUM MARKET LOCATION

AVERAGE PRICE PER SQUARE FOOT

LIST PRICE (900 SQ. FT. SUITE)

Serene in Guelph

$370

$324,900

KW

$390

$349,900

$25,000

Burlington

$399

$358,900

$34,000

Mississauga

$448

$401,500

$76,600

Oakville

$489

$429,900

$105,000

COST SAVINGS IF CHOOSING SERENE

•

Sunset views over conservation lands

•

GO Transit and 401 access

•

Over-sized balconies

•

9’ ceilings with floor to ceiling glass windows

•

Parking and locker included

•

Concrete construction

•

Low deposit structure

Model & Sales Centre: 1340 Gordon St. at Arkell Rd. · Mon-Thurs 1-7pm Weekends 12-5pm · 519-827-2111 · serenecondos.ca ** Based on comparable market analysis executed January 2013. E. & O. E. Accurate at time of print 29

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inthenews

Empire Communities partners with Warren Woods Land Corp. Partners announce exciting new community in Niagara

Empire Communities and the Warren Woods Land

Corporation have announced they have formed an exciting new partnership to build Imagine, an impressive new master-planned community in Niagara Falls. Imagine will be a community where each home will be in harmony with the natural environment that surrounds it... a place where woodland nature trails will wind, birds will sing and spirits will be revitalized. Comprised of several unique neighbourhoods, Imagine will boast a range of different living styles including large and small single-family detached homes, townhomes, condominiums and apartments, as well as a retirement village. Scheduled to launch in early summer 2013, the Imagine Centre will include three fully furnished model homes on site. Prices at Imagine will start at an affordable $189,990 for townhomes and $214,990 for detached homes. The first neighbourhood of the community is already 100-per-cent serviced so construction can progress quickly and efficiently. “This dynamic community will truly have something for everyone,” says Paul Golini, executive vice-president of Empire Communities. “From families to second-home vacationers, empty nesters and retirees, Imagine will offer a vibrant lifestyle unmatched in southern Ontario.” Imagine’s outstanding location is close to all the amenities of Niagara as well as neighbourhood entertainment facilities, the McBain YMCA Community Centre, the Niagara Square, Walmart, Lowes, the Heartland Forrest Family Retreat and the Carolinian Forest preserve with trails and more.

The developers of Imagine have already created beautiful walking trails throughout the community that are being enjoyed by the many residents in the neighbourhoods close by. In fact, more than one-third of the entire community will be dedicated to green space. Visitors to the Imagine Centre will be taken on a tour of the community by golf cart to help them appreciate the extent the developer has taken to preserve the natural environment. The community, in fact, will set the standard for sustainable living in the area. The power of renewable, eco-friendly technology will be harnessed to create a living environment that is both comfortable and efficient for today and also sustainable for tomorrow. Both Empire and Warren Woods have been committed to Green building and will have a selection of Green options for residents to choose from. Testament to this commitment is the list of awards for which Empire has been recognized. The company has received the Green Builder of the Year Award from both the WRHBA and BILD in addition to the Energy Star for New Homes Builder of the Year all for 2012. “Niagara Falls is already North America’s Green Energy Capital,” says Golini. “As such, it is the logical centre for renewable power industries in North America. So we are confident that Imagine will quickly attract companies in the emerging renewable energy industry to locate in the exciting new ‘energy’ business park. Imagine is an incredible blend of business opportunities and sustainable living that will be a first for Ontario.” “Our goal for Imagine is to create the pre-eminent community in the entire Golden Horseshoe,” adds Robert O’Dell, managing partner of Warren Woods. “Imagine will combine the best in building quality with Empire, a home to suit any lifestyle, an outstanding location just minutes to any shop or service one could want, and a green environment that supports the philosophy of sustainable living. We are proud to be partners with Empire Communities.” To learn more about the exciting new community of Imagine, visit empireimagine.com

30 New home & condo guide SWO | february 2 - 16, 2013

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hamilton halton niagara

hot sheet

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 eastforest homes Simcoe | Woodway Trails Single-detached homes on 45-ft.-wide lots, as well as semis. woodwaytrails.ca adi development group Burlington | Mod’rn Condominium Register now for this four-storey condo in the heart of Burlington. adidevelopments.com Bayview-wellington homes Niagara | Niagara on the Green Register now for these executive townhomes backing onto the Royal Niagara Golf Course. bwhomes.ca branthaven homes Waterdown | The Portraits Coming soon, intimate collection of just 47 townhomes in a landscaped enclave. branthaven.com dawn victoria homes Burlington | Village West Register now for this small enclave of urban townhomes on Plains Road West. Ideal for commuters and young families due to proximity to the GO station, QEW, parks and downtown. dawnvictoriahomes.com

Ancaster Beamsville Binbrook Brant Brantford Burlington Catharines Grimsby Hamilton Milton

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

new openings

new releases

countrygreen homes Waterdown | The Uptowns of Waterdown Urban style condo towns from the $200’s. countrygreenhomes.com

empire communities Stoney Creek | Victory New release of 34-ft detached home designs, and 42-ft. homes coming soon. victoryempire.com

Great gulf homes Thorold | Rolling Meadows Model homes now open for this upcoming community of singles on 42- and 50-ft. lots from 1,845 to 3,035 sq. ft. greatgulf.com menkes & fernbrook homes Oakville | Millstone on the Park Urban towns close to schools, shopping, major highways and more. millstonepark.ca Losani homes Binbrook | The Fairgrounds Prestige Grand opening of 36- and 46-ft. single-family homes backing onto preserved woodlot. losanihomes.com marz homes Stoney Creek | Woodview Now open – forest-side town living in affordable freehold and private lane townhome collection. marzhomes.com

empire communities Hamilton | Summerlea New release of freehold townhomes to go along with 30-, 36- and 44-ft. detached homes. empirecommunities.com branthaven homes Grimsby | Bravo by the Lake Phase 2 lot release coming soon, in masterplanned community of two- and three-storey lakeside townhomes. branthaven.com countrygreen homes Hamilton | West Bloom Premium lots available in this intimate enclave of 35 single-family homes. countrygreenhomes.com brookfield homes Brantford | Grand Valley Trails New release of bungalow towns; also parkside singles and attached singles. brookfieldgrandvalley.ca

phelps homes Grimsby | The Bedford Collection Model home now open at this private enclave of 28 bungalows a short walk from downtown Grimsby. bedfordcollection.ca

dicenzo homes Niagara | Blueshores Final phase released – waterside living in luxury singles, attached singles and towns. blueshores.info

new horizon homes Brant County | Royal Highland Estates Now under construction – custom bungalows on large estate lots. newhorizonhomes.ca

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

autumn lea developments Welland | Silverwood Manor Model home now under construction – freehold bungalow townhomes with doublecar garges and stylish designs. 1.866.318.3485 eastforest homes Brantford | D’Aubigny Forest Estates New model now open for these singles on 40-ft. lots. eastforesthomes.com

february 2 - 16, 2013 | New home & condo guide SWO 31

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Paris

Port Dover

Grimsby

Smithville

Oakville, Burlington, Hamilton, Ancaster, Paris, Brantford, Stoney Creek, Vineland, Lincoln, Thorold, Fonthill, Niagara, Niagara-on-the-Lake, Fort Erie

Halton / Hamilton / Wentworth / Niagara:

Thorold Fonthill

Ridgeway

Chippawa

Fort Erie

Prices

Ancaster

Rosehaven Homes

Tiffany Hill

•

Beamsville

Homes By DeSantis

Lincoln Square

•

•

Beamsville

losani

Discovery

•

Beamsville

Mountainview Homes

Hillside Estates

Binbrook

losani

The Fairgrounds

•

Binbrook

losani

Parkside

Brantford

eastforest homes

D'Aubigny Forest Estates

Brantford

Empire communities

Brantford

from $460's

38

from $249,900

11

from the $300's

51

from $274,900

9

•

from the $300's

51

•

from the $200's

51

•

from $296,990

41

Wyndfield

•

•

from $191,990

2&3

brookfield homes

Grand Valley Trails

•

•

from $219,990

39

Burlington

adi development

Mod'rn Condominium

•

from the $200's

50

Burlington

tobyn park homes

ParkCity

•

from the $180's

55

Chippawa

Rosehaven homes

Lyon's Creek

•

•

from low $300's

38

East Hamilton

losani

Green Hill Glen

•

•

•

from the $270's

51

Fonthill

Mountainview Homes

The Residences at Lookout

•

•

from $315,900

9

Georgetown

menkes

The Enclaves of Upper Canada

•

•

from $409,990

43

Grimsby

Branthaven homes

Bravo! By the Lake

•

from $219,990

12&13

Hamilton

Country Green Homes

WestBloom

•

from $329,900

7

Hamilton

empire communities

Summerlea

•

from $221,990

2&3

Hamilton

new horizon

City Square

Hamilton

SPALLACCI homes

Eden Park

•

Niagara

Mountainview Homes

Thundering Waters

•

•

Niagara Falls

Mountainview Homes

Deerfield Estates

•

•

Niagara Falls

Mountainview Homes

Fernwood

•

Niagara on the Lake BW Homes

Niagara on the Green

•

•

Oakville

MENKES

Millstone

Ridgeway

Mountainview Homes

Beaver Creek Estates

•

St. Catharines

BW HOMES

Stoney Creek

Page

•

•

•

•

from low $200's

34 35

from high $200's

9

from $224,900

9

•

from $202,900

9

•

from low $200's

4&5

•

from $299,990

42

from $283,900

9

Victoria Village

•

from $260,900

4&5

BRANTHAVEN homes

Paramount

•

from $200,000

12&13

Stoney Creek

empire communities

Victory

•

•

from $276,990

2&3

Thorold

great gulf

Thorold

•

from $307,990

78&79

Thorold

Mountainview Homes

West Community

•

•

•

from $239,900

9

Thorold

Rosehaven homes

Gibson Heights

•

•

from $240,000's

38

Welland

autumn lea developments inc. Silverwood Manor

•

from low $200's

47

Welland

Mountainview Homes

•

from $213,900

9

Harvest Estates

•

•

•

Oakville, Burlington, Hamilton, Ancaster, Paris, Brantford, Stoney Creek, Vineland, Lincoln, Thorold, Fonthill, Niagara, Niagara-on-the-Lake, Fort Erie

Builders SiteS

Halton / Hamilton / Wentworth / Niagara:

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

Location

33

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CS2_CityLiving_NHC Ad_Dec3.pdf

1

04/12/12

9:53 AM

34

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Spallacci_EdenPark_PHASE4_NHC_Sept11_HR.pdf

1

12-09-12

10:27 AM

35

035-Spallacci 09-15-12.indd 35

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communityfocus

2013 PROMISES TO BE GRAND FOR

Rosehaven Homes I

t’s all success after success for Rosehaven Homes, with new projects all around the Toronto, Hamilton and Niagara area. If you are looking for Rosehaven quality in a home, look to rosehavenhomes.com to stay informed and discover your perfect home.

since they first launched, due in large part to the homes’ superb features and finishes. Designs include soaring nineft. main floor ceilings, grand eight-ft.-tall front entry doors, imported 13-by-13-in. ceramic tiles, luxurious 35-oz. broadloom, gas fireplaces with elegant oak surround, decorative columns, trimmed half walls, nickel finish interior hardware and lighting and master ensuite bathrooms with spa-like glass shower enclosures. For this community, Rosehaven built one of the biggest Model Rows the Niagara Region has ever seen! Visit Rosehaven’s models on Winterberry Blvd. at the crossroads of Richmond St. and Confederation Ave. in Thorold. For more information, visit rosehavenhomes.com Construction’s underway at Lyon’s Creek in Chippawa In Chippawa, Rosehaven Homes offers a community of stunning new homes at Lyon’s Creek. Buyers can choose

Live big with new release of singles at Gibson Heights in Thorold At Gibson Heights in Thorold, Rosehaven offers beautiful 36-, 40- and 45-ft. detached homes with spectacular features and large lots for families to live big and enjoy life. Also a few inventory 30-ft. attached singles and freehold towns are available from the $240’s, and some inventory detached homes remain on 36-ft. lots with quick closings from the $300’s. This historic Old Ontario community has been a real success for Rosehaven because buyers get a perfect combination of space, style, charm and an appealing price, all in a welcoming neighbourhood minutes from St. Catharines and Niagara Falls. Rosehaven’s designs for Gibson Heights have been very well received by purchasers 36 New home & condo guide SWO | february 2 - 16, 2013

036-037 CF Rosehaven_AY-WK.indd 36

1/31/13 1:51:03 PM

ROSEHAVEN HOMES

This historic Old Ontario community has been a real success for Rosehaven because buyers get a perfect combination of space, style, charm and an appealing price, all in a welcoming neighbourhood minutes from St. Catharines and Niagara Falls. location Thorold, Chippawa, Ancaster housing type Thorold, 36-, 40- and 45-ft. detached homes, attached singles and freehold towns; Chippawa, 50-ft. singles, freehold towns, bungalows and bungalow-loft designs; Ancaster, stone, stucco and brick homes on 36-, 45- and 50-ft. lots sales centre Thorold, Winterberry Blvd. at the crossroads of Richmond St. and Confederation Ave. in Thorold contact Thorold, rosehavenhomes.com Chippawa, rosehavenhomes.com Ancaster, tiffanyhill.ca

Multi-site

from a wide selection of 50-ft. singles, freehold towns, bungalows – and exciting bungalow-loft designs up to 2,500 sq. ft. Homes here are truly grand, with covered porches and balconies, coffered and vaulted ceilings, master bedroom suite with walk-in closet, gourmet kitchen with breakfast bar and island, nine-ft. main floor ceiling, eight-ft.-tall front entry door and gas fireplace. In picturesque Chippawa village, Lyon’s Creek is the perfect location for a vibrant and healthy lifestyle close to Niagara Falls, golfing, outdoors activities, shopping and sightseeing. Information on this lovely neighbourhood can be found at rosehavenhomes.com You can still give your family a Tiffany tradition Families looking for a superb setting and impressive home designs have made Tiffany Hill the best selling community in upscale Ancaster. And right now there is still a choice selection of homes and lots available for you to choose from including inventory homes with quick closings. Rosehaven Homes offers a stunning collection of stone, stucco and brick homes on 36-, 45- and 50-ft. lots loaded with luxury features and designer details in a beautifully designed community featuring natural open spaces and parks. Surprisingly, prices for gorgeous 45-ft. lot homes at Tiffany Hill start in the $460’s. It’s a great place to own a home and to raise a family. The neighbourhood offers an elegant small-town atmosphere walking distance to beautiful trails, serene woodlands and breathtaking waterfalls, ideally situated with easy access to highways. And the home designs themselves are stunning; exactly what you would expect from Rosehaven in a prestigious community such as Ancaster. For directions and additional information on this sought-after community, visit tiffanyhill.ca

february 2 - 16, 2013 | New home & condo guide SWO 37

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It’s the feeling Rosehaven designs into some of the most desirable homes in Southern Ontario. Homes that are as unique as you are. So choose Rosehaven and every time you step through the front door you’ll say I am happy, I am comfortable… I am home!

Chippawa / Niagara - Lyon’s Creek Construction well underway! New 35’ bungalow loft towns & 50’ singles from the low $300’s. Lyon’s Creek Blvd. & Sodom Rd., east of the QEW

Thorold - Gibson Heights Model home inventory release! Towns, semis & attached singles from the $240’s. Plus 45’, 40’ & 36’ lots from $300’s. Richmond St. & Winterberry Blvd., south of Hwy. 58

Ancaster - Tiffany Hill Luxury stone, stucco & brick detached homes on 45’ lots from the $460’s and 4 models to tour! Garner Rd. E. & Raymond Rd., east of Hwy. 6

Also building communities in Nobleton, Brampton & Kleinburg.

For directions, hours, community information, visit:

rosehavenhomes.com • (1-888 / 416) 410-0175 38

038-Rosehaven Homes 02-02-13.indd 38

Prices and specifications correct at press time. E. & O.E. Prices quoted are in $ thousands.

1/30/13 1:55:57 PM

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HHHBAreport

WHILE THE TORONTO HOUSING MARKET CONTINUES TO COOL,

Hamilton stays just right

by Mathieu Langelier

During the holiday season, one of the

hot topics around the dinner table was the fate of the housing market and the glooming housing price crash in Canada. So, here is a little more info to temper the doomsday sayers in your circles. We have all heard that the Toronto housing market is cooling off, following the national trend that started in Va n c o u v e r . T h r o u g h December 2012, housing sales in Toronto dropped by 19.5 per cent compared to the same time last year. It began as sales started to soften over the summer, a trend that will likely persist through the early part of 2013. Resale volumes were down 11.9 per cent across Canada from October 2012 to November

The main driver of housing demand in Hamilton continues to be affordability. Compared to Toronto, the average price of a home in Hamilton is $140,000 less. This continues to attract people to Hamilton.

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

2012. A myriad of numbers have been quoted by many experts, which can be quite confusing. Fortunately, Hamilton has avoided this cooling of the housing market, so it’s still a great time to buy here. While there will always be seasonal fluctuations, it is forecasted that prices in Hamilton will remain flat throughout 2013. Stable prices are indeed one of the best indicators for a healthy housing market. Although housing starts in Hamilton are predicted to decrease by 10 per cent in 2013, the main reason behind this is the lack of available land and not wavering consumer demand. In fact, total housing starts in Hamilton were up by 20 per cent in 2012 compared to 2011. This shows that people are still buying properties and we’re still building them, so prices will remain stable in 2013. The main driver of housing demand in Hamilton continues to be affordability. Compared to Toronto, the average price of a home in Hamilton is $140,000 less. This continues to attract people to Hamilton. But the lack of available land and the high cost for the rare shovel-ready lots are starting to drive people away from the city. Affordability is indeed very fragile, and we need to keep a tight control over increasing costs. The Hamilton-Halton Home Builders’ Association is pleased that our builders continue to provide stability for the Hamilton housing market.

40 New home & condo guide SWO | february 2 - 16, 2013

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42 NEW HOME & CONDO GUIDE SWO | FEBRUARY 2 - 16, 2013

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communityfocus

The Enclaves of Upper Canada, Georgetown An Energy Star community by Menkes Developments bordering conservation lands

T

he Enclaves of Upper Canada is Menkes’ newest family commu- to choose from. There is also a selection nity in Georgetown, backing onto a ravine of mature trees with of leisure and recreation options, including breathtaking views of the Credit River Conservation lands. A private, skating, skiing, golfing, horseback riding inviting community in the Norval hamlet of East Georgetown, virtually and fitness in the area. everything you need is only minutes away. From all the amenities of a The Enclaves of Upper Canada offers major town to the beautifully landscaped suburban streets and wooded a wide selection of semi-links and 30-ft. walking trails of the Niagara escarpment, the Enclaves has it all. detached homes. Each of these elegantly Minutes away from miles of well-groomed hiking trails, this pristine crafted gems blends into the natural landlandscape provides a multitude of picturesque settings ideal for family scape, delivering a charming, timeless look picnics, hikes or bike rides. When you’re surrounded on all sides by natural and feel. With a modern grasp of design, beauty, you’ll quickly forget how close you are to the centre of Georgetown, fused with classic architectural styles, with all of its many fine community facilities. For those who crave the these homes have been designed from the excitement of the big city, Brampton is a mere five minutes east. inside out to suit the needs of today’s lifeDowntown Georgetown’s historic Main Street offers a charming style. Inspired by Georgian architecture selection of boutique shops and fine restaurants, while Market Place through the symmetry of windows and Mall has all of your favourite mainstream big-box stores. A thriving arts French architectural bell curve roof flares, community, Georgetown has an array of cultural events and local theatre these characteristics create the unique

44 New home & condo guide SWO | february 2 - 16, 2013

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MENKES DEVELOPMENTS

The Enclaves of Upper Canada

location Georgetown housing type Semi-links and 30-ft. detached homes sales centre 363 Guelph St., Georgetown, open Monday to Thursday 1 to 8 p.m., closed Fridays and open Saturdays and holidays from 11 a.m. to 6 p.m. and Sundays from noon to 6 p.m. contact

individualism of each elevation. Authentic architectural influences on style combined with the use of materials such as stucco, stone and brick with a careful selection of colour palettes, creates character and identity for this community. The same exquisite, traditional charm can be found in the stunning interiors of each and every home. All the homes at The Enclaves come with an upscale array of standard features, including nine-ft. ceilings on the main floor, natural gas fireplace with white painted mantle and marble surround for 30-ft. designs, oak staircases from the first to second floor with upgraded pickets, low-E argon white vinyl casement windows on the main and second floors, decora switches, upgraded attic and wall insulation to reduce heating and cooling costs, a paved driveway and much, much more. In addition, each home at The Enclaves is an Energy Star qualified home, including inspection and certification by a government sponsored third-party evaluator. Menkes is offering spectacular preview opening bonuses to its purchasers: semi-link homes receive three stainless steel kitchen appliances, white washer and dryer and $5,000 in upgrades. Purchasers of the 30-ft. detached homes will receive three stainless steel kitchen appliances, white washer and dryer and $10,000 in upgrades. As an extra special bonus, for a limited time only, purchasers will receive an additional $15,000 off the purchase price of the semi-link homes and $20,000 of the 30-ft. detached homes. In addition, all purchasers will receive a free consultation with a professional colour consultant at the Menkes Home Design Studio. Semi-link designs range from 1,590 to 2,023 sq. ft. and are priced from the low $400’s. The 30-ft. detached designs range from 1,774 to 2,334 sq. ft., with starting prices in the low $500’s. Visit the sales office located at 363 Guelph St., Georgetown right in front of the Best Western Hotel and just east of Canadian Tire. The presentation centre is open from Monday through Thursday from 1 to 8 p.m., closed Fridays and open Saturdays and holidays from 11 a.m. to 6 p.m. and Sundays from noon to 6 p.m.

289.891.9103 | visit menkes.com

For more information, please call 289.891.9103 or visit menkes.com february 2 - 16, 2013 | New home & condo guide SWO 45

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Hamilton-Halton’s most CelebrateD sHow!

bob the builder © 2013 HIT entertainment PLC & Keith Chapman

February 15-17, 2013 Hamilton Convention Centre tHeHomesHow.Ca Fri 12-8 · sat 10-7 · sun 10-6 General aDmission $5 · FamilY aDmission $8

FeaTurING ScOTT McGILLIvRAy HOST OF HGTv’S INCOME PrOPErty sponsored by:

2 FLOORS OF INSPIRATION Hundreds of exhibitors Parade of Homes · ask a Decorator Gallery of Fine Furniture reno and Decor Stage renomark “ask a renovator Consultation” Chef Stage · “Paradise Found” Feature Garden Interiors Magazine Designer’s Walk ComPlimentarY KiDZone DaYCare all weeKenD

Presented by:

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46

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1/30/13 1/23/13 1:56:36 1:40 PM PM

FREEHOLD BUNGALOW TOWNHOMES IN WELLAND

Double Car Garages Stylish Designs Now Under Construction Starting in the low

Autumn Lea Developments Inc.

047-Silverwood Manor 01-19-13.indd 47

Renderings are artist’s concept. Prices, sizes and specifications to change without notice. E. & O.E. Map not to scale. Exclusive listing brokerage: Coldwell Banker Advantage Real Estate Inc. Brokerage: 905-788-3232

Park

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communityfocus

Mod’rn Condominium brings contemporary style to Burlington location Burlington housing type Boutique midrise condominium sales centre 1284 Guelph Line, open Tuesday to Friday noon to 6 p.m., Saturdays and Sundays noon to 5 p.m. contact 905.592.2144 adidevelopments.com

M

od’rn Condominium by Adi Development Group has set a new standard for development in Burlington. Young professionals and empty nesters alike – especially those savvy in the design and real estate industry – are drawn to Mod’rn’s contemporary style and Burlington’s budding community. “We are seeing lots of young, first-time buyers, as well as older couples who are looking to downsize, but want a fresh, contemporary look,” says Tariq Adi, CEO of Adi Development Group. Mod’rn’s façade features dark iron spot brick, parklex wood panels and natural stone. Eye-catching architectural details include an angled corner element and a dynamic wood canopy that frames the boutique entrance.

48 New home & condo guide SWO | february 2 - 16, 2013

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ADI DEVELOPMENT GROUP

Mod’rn

Mod’rn’s façade features dark iron spot brick, parklex wood panels and natural stone. Eye-catching architectural details include an angled corner element and a dynamic wood canopy that frames the boutique entrance. “The unique open-concept layouts and deluxe features at all units are open to the outdoors with a Mod’rn offer an upscale ambiance, never really seen before balcony or ground floor walk out patio. in Burlington,” says purchaser Charles Jabra, an architect Ideally situated between Toronto and working in Toronto. Niagara, Burlington’s sophisticated culture Priced from the low $200,000s, a select number of suites – nightlife, arts and dining – make it the are still available in the four-storey boutique building, offer- perfect place for people looking to have a ing soaring nine- and 10-ft. ceilings and floor-to-ceiling good time. “There are many great festivals windows. Resonating well with purchasers, Mod’rn’s standard throughout the summer,” says purchaser features and finishes include wide plank laminate flooring, Bartek Wolejszo, developer. premium stainless steel Energy Star appliances, designer Two GO Train stations and VIA Rail cabinetry and granite countertops. makes commuting easy for those working With access to the outdoors, including the Niagara Es- in the city. carpment, boutique waterfront and plentiful golf courses, Janet Middleton, a retired property Burlington has lots to offer. Mirroring the outdoor lifestyle, management expert, was drawn to Burlington for its location. “This city is central to everything I need: big city life in Toronto, casinos in Niagara or the airport in Buffalo. It’s really easy to come and go as I please. There is a real niche market for developments like Mod’rn in Burlington.” Tariq and Saud Adi of Adi Development Group drew inspiration for Mod’rn not only from their love of Burlington but also from a lineage of international builders. As a result, Mod’rn has become a signature piece for both Burlington and the Adi Development Group. “The immediate success of Mod’rn is demonstrating to us that Burlingtonions are ready for something fresh and contemporary that moves away from what the traditional townhome or condo can offer,” says Saud Adi. Located at 1284 Guelph Line, the Mod’rn Condominium presentation centre is open Tuesday to Friday noon to 6 p.m., Saturdays and Sundays noon to 5 p.m. For more information, visit adidevelopments.com or call 905.592.2144. february 2 - 16, 2013 | New home & condo guide SWO 49

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A9076_Modrn_NHC_SWO_Feb2-2013_A9076_Modrn_NHC_SWO_Feb2-2013 1/28/13 2:19 PM Page 1

in the heart of Burlington from the $200’s

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1284 Guelph Line, Burlington, Just north of the QEW south of Upper Middle Rd.

Monday - Thursday: 12 noon - 6 pm • Friday: Closed • Saturday, Sunday & Holidays: 12 noon - 5 pm

Brandt St. HW Y4 07

Presentation Centre:

Upper Middle Rd. PRESENTATION CENTRE

QEW

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HWY 403

50

LAKE ONTARIO

Exclusive Listing: Baker Real Estate Incorporated, Brokerage. Brokers Protected.

* See Sales Representative for details. Illustrations are artists concept. Prices and specifications subject to change without notice. E. & O.E.

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Losani_InventoryAD_NHC_Jan29.pdf

1

30/01/13

12:24 PM

Ready-Built Homes

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You’ll enjoy the comforts of a warm and inviting new home this winter when you buy a Losani Ready Built home. Move in soon and discover the value add benefits of a more comfortable and consistent indoor climate, lower energy bills and know that your energy smart home is efficient and eco-friendly.

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losanihomes.com/readybuilt Prices, sizes and specifications are subject to change without notice. E.&O.E. *Minimum total deposit required before closing with flexible deposit structure. Ask Sales Representative for details. Certain conditions apply.

051-Losani-Inventory 02-02-13.indd 1

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communityfocus

Homes by DeSantis launches innovative $10,000 cash back program AT LINCOLN SQUARE, BEAMSVILLE

S

toney Creek-based developer Homes by DeSantis is introducing an unprecedented “$10,000 Any Way You Like It” program in Beamsville, making first-time homebuying more affordable. The program will give homebuyers a choice of how they’d like to use $10,000 when purchasing a Freehold Townhome at Lincoln Square in Beamsville. “The “$10,000 Any Way You Like It” program is designed to help more first-time buyers get into the real estate market and purchase that first home to start building equity,” explains Gabriel DeSantis, president of Homes by DeSantis. “Homebuyers can choose from our many different savings programs. We’re letting the homebuyer decide which saving program works for them.”

52 New home & condo guide SWO | february 2 - 16, 2013

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HOMES BY DESANTIS Lincoln Square

Homes by DeSantis is also offering a Flexible Deposit Program that allows the homebuyer to stretch out smaller payments over a longer period of time, allowing more time to save for each payment. These two programs mean that payments on a freehold townhome at Lincoln Square would amount to just $515 bi-weekly. This amount includes principal and interest and is based on a five-year, variable rate at 3.19 per cent, amortized over 25 years. This community is located in the heart of downtown Beamsville and includes a 46,000-sq.-ft. community centre and 12,000-sq.-ft. library – both slated for completion in 2013. Lincoln Square is located within walking distance to schools, shopping and conservation areas; it’s location two minutes from the QEW makes it a short commute to the GTA, Niagara Region and border. Lincoln Square’s executive freehold townhomes are available in two-storey and split level designs starting at

$249,900 for 1,530-sq.-ft. plans. All models feature nine-ft. ceilings, location second-floor laundry, open concept Beamsville living spaces, smart home technology and three-bedroom plans. housing type First occupancies at Lincoln Executive freehold townhomes Square are expected in fall 2013. sales centre The Lincoln Square sales centre is located at the intersection of Intersection of Ontario and May Street, Beamsville Ontario and May Street in Beamsville (on Serena Drive). contact Homes by DeSantis has been 289.566.8889 the builder behind thousands of homesbydesantis.com family homes located in the Hamilton, Halton and Niagara regions for more than 50 years. The company’s hallmark is a combination of premium materials, meticulous workmanship, and exceptional levels of customer care – coupled with an intense passion for homebuilding for the value-conscious buyer. Recently, The Canadian Home Builders’ Association bestowed its highest honour on the company, naming it Builder of the Year. Since then, many other provincial and building awards have followed, as Homes by DeSantis continues to create first-class communities offering creative home design and the ultimate in customer satisfaction. Fore more information, contact Sandra Veselisin and Billie Clark at 289.566.8889, lincolnsquare@homesbydesantis.com or visit homesbydesantis.com february 2 - 16, 2013 | New home & condo guide SWO 53

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... y o

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om

j n E

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54 NEW HOME & CONDO GUIDE SWO | FEBRUARY 2 - 16, 2013

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cityfocus

Hamilton Still humming along by Wayne Karl

Hamilton at a glance Population

692,000, metro area Major post-secondary institutions

McMaster University, Brock University, Mohawk College Number of public and catholic schools

180

Major employers

Health services, manufacturing, government, education sectors Average home prices

dec 2012: $360,059 dec 2011: $333,498 Distance from Toronto

70 kilometres, 45 minutes

H

amilton may be only less than an hour’s drive west along the Queen Elizabeth Way, but it has long lived in the shadows of its big city neighbour Toronto. Long known as Steeltown, The Hammer and other less-thancomplementary monikers, Hamilton has undergone a fundamental transformation that has the city poised for long-term prosperity. For homebuyers considering purchasing in the area, there are good reasons to consider Hamilton. The city has been cited as among Canada’s most welcoming areas, particularly for first-time buyers. The Real Estate Investment Network, for example, has named Hamilton as the top real estate investment town in all of Ontario through to 2018. Continuing diversification of the city’s economy, coupled with increased accessibility provided by the transportation improvements, provides a strong economic base, the group says. In a few short years, Hamilton’s economy will be unrecognizable compared to past decades. In recent years, Hamilton has seen significant expansion in sectors such as health care and post-secondary education,

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offsetting a historical reliance on steel manufacturing. Indeed, Hamilton’s economy today is much more diversified than the Hammer of old. Economic growth in Hamilton is stellar. The Conference Board of Canada, in its Metropolitan Outlook – Autumn 2012, cited HamiltonBurlington economy as the fastest growing in Ontario for 2012. Hamilton’s gross domestic product (GDP) was to grow by 2.5 per cent in 2012, thanks to renewed demand for steel and growth in several other manufacturing industries. Even better, growth will be at least that over the next four years, the Board says. The city, in fact, ranks fifth in all of Canada in projected 2012 economic growth among 13 cities tracked in the report. The top four cities are Edmonton, Calgary, Regina and Vancouver, with Toronto coming in sixth. Hamilton’s manufacturing sector was forecast to grow 4.5 per cent in 2012, following increases of 8.6 per cent in 2010 and 3.7 per cent in 2011. The board predicts 3.4 per cent growth through 2013-14. Housing demand in Hamilton is to remain stable through 2013, as improving economic conditions and higher net migration will support housing demand in the area, according to Abdul Kargbo, senior market analyst at Canada Mortgage and Housing Corp. (CMHC). “A gradual improvement in job and income growth during the latter part of (2013), combined with modest price increases, should support Hamilton resale activity by the second half of 2013.” Net migration into Hamilton doubled in 2011 from the recession levels of 2008, and totalled more than 19,500 over the last four years, as people were attracted to the improving job market. The Hamilton census metropolitan area (CMA) is seeing something of a shift towards higher-density housing, while lowrise starts are seeing more concentration in surrounding communities. In the Hamilton CMA, the average new home price will be driven by compositional factors, CMHC says. In 2010, buyers were looking to purchase homes at the upper end of the price scale prior to the implementation of the HST. The surge in demand resulted in prices of new single-detached homes averaging more than $450,000. Through 2011, while the average price continued to be pulled upwards by some of the luxury homes in neighbouring Burlington, the median price of a single-detached home in the Hamilton CMA february 2 - 16, 2013 | New home & condo guide SWO 57

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remained $400,000. Both the median and average new home price were expected to rise modestly through 2012, CMHC says. Average home prices are also on the rise, to $360,059 in December 2012 from $333,498 in December 2011, according to the Canadian Real Estate Association. Non-residential projects underway in the region include major expansions in the health care sector, and millions of dollars spent on infrastructure improvements. A new rapid transit system is also being studied, which is expected to further benefit already improving inter-city travel. . The city is working with Metrolinx, the provincial body responsible for expanding transit in the GTA and Hamilton area, and is awaiting a final recommendation for the project. Other recent significant industrial news includes Canada Bread’s new $100-million, 375,000-sq.-ft. bakery in the city’s industrial park in Glanbrook, replacing three smaller operations in Toronto. The project was to create 300 permanent jobs, as well as 120 construction and 31 seasonal positions. Columbian Chemical also recently announced a major expansion of carbon black production at its plant in Hamilton. Beyond these industrial expansions, Hamilton is also seeing a marked increase in other types of businesses moving into the downtown area. Much of the employment growth, in fact, is taking place in creative services, education, professional-scientific and health care. CMHC says job prospects are expected to continue to improve, and Hamilton will likely fare better than other Ontario markets due to its increasingly diverse base of industries, which keep the labour market more balanced. Thanks to billions of dollars in infrastructure improvements around and within the city, as well as expanded GO Train services, the “new” Hamilton is becoming more accessible as well as desirable. Buyers can acquire more affordable property here and commute to Toronto, or other neighbouring communities such as Burlington, Oakville or Mississauga. An emerging condominium market provides buyers with an even more affordable entry into Hamilton. Developers see this potential and a number of new projects are underway from all of Losani Homes, Empire Communi-

it is home to the Royal Botanical gardens, a major tourist attraction and significant local and regional horticultural, education, conservation and scientific resource.

58 New home & coNdo guide Swo | february 2 - 16, 2013

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ties, Multi-Area Developments, New Horizon Homes, Spallacci Homes and Country Green Homes, with many aimed at first-time buyers and priced accordingly. Hamilton also has plenty going for it in terms of culture and entertainment. It is home to the Royal Botanical Gardens, a major tourist attraction and significant local and regional horticultural, education, conservation and scientific resource. The city is also home to the Art Gallery of Hamilton, Ontario’s third largest public gallery. For sports enthusiasts, there’s the Hamilton Tiger Cats of the Canadian Football League. More recently, in 1996, the Hamilton Bulldogs of the American Hockey League came to town and play out of Copps Coliseum. Copps, located downtown, which also serves as a venue for concerts and other events. If living in the city is not exactly your favour, development is also leading to growth in adjacent areas such as Ancaster, Dundas, Flamborough, Glanbrook and Stoney Creek. Homes by DeSantis, Losani Homes, Branthaven Homes, Mattamy Homes, Rosehaven Homes and other builders all have communities under way in these towns. february 2 - 16, 2013 | New home & condo guide SWO 59

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LONDON

hot sheet

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!

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new releases

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auburn developments London | Foxfield Community A variety of housing options are available in this community, including single-family lots. auburndev.com

geranium homes Woodstock | The Village of Sally Creek Now open – semi-linked and fully detached bungalows and bungalowlofts in this adult lifestyle community. geraniumhomes.com

rembrandt homes London | River West Third and final phases coming soon for this bungalow condos surrounded by a beautiful garden oasis. rembrandt-homes.ca

claysam homes Woodstock | Sally Creek Premium twin town designs now including finished basements. claysamhomes.com

Sifton properties Ingersoll | HarrisView Phase One now available – new homes located just minutes from Hwy. 401; small town charm close to schools, parks, greenspace and amenities. sifton.com

60 New home & condo guide SWO | february 2 - 16, 2013

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february 2 - 16, 2013 | New home & condo guide SWO 61

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1/31/13 1:58:12 PM

quicktips

Hellen Buttigieg, CPO, is a Certified Professional Organizer, life coach, TV host, author and owner of We Organize U. Visit her website, weorganizeu.com, for a free e-Book on how to find more time, energy and inner peace. Contact Hellen at 905.829.2219 or info@weorganizeu.com

the impact of

stuff

by Hellen Buttigieg Everything around you has an impact on you

whether you realize it or not. When you create and develop your décor, you are trying to set the tone of the room – give it a certain look and feel. You take time to include pieces you like and enjoy, whether they are part of the design or part of the function of the room. But other pieces make their way into your space, even though they may not belong there or may be there for the wrong reasons. By organizing, de-cluttering and streamlining, you can make sure your environment has the right effect! Is clutter getting you down? Surrounding ourselves with items that mean something to us brings pleasure. And then there’s all the other stuff. Often, when we feel down but can’t figure out why, it could be the clutter. Even if it’s stuffed in the back of the closet, the basement or the garage, you know it’s there. Every item holds a vibrational energy; if you’ve buried sad reminders of disappointments from your past, know that as long as you keep these emotionally toxic things in your space, they are still haunting you. Break free from the past and make space for new opportunities to come into your life. If it’s in storage and bringing you sorrow, now is a great time to let it go. Out with the old, in with the new!

Eliminate your clutter hot spots We all have certain spots in our homes that have become magnets for clutter, usually because they provide a convenient, empty, flat surface to pile things on. Walk around your home to determine where the clutter hot spots are, then remove the clutter (toss it in a box or laundry basket for now) and put something beautiful in its place, like a vase or a sculpture. If it’s the dining room table, set it as if you were having a dinner party. This will deter you from using it as a drop zone. Walk around your home with the box you tossed everything into and deposit these items where they belong, either in the garbage or recycle box or stored elsewhere in your house. If they don’t have a proper home, create one. Detaching from sentimental attachment Things that have a story attached to them are often difficult to let go of because of the sentimental attachment. Keep in mind that the item is not the memory; it simply triggers the memory. It may be beneficial to take a picture of the item and put it in a scrapbook or photo album with a short note telling its story. That way, the memory is preserved without taking up as much space. Another option is to pass along the items to a family member who could put them to good use. Daily de-clutter habit You brush your teeth every day. You shower every day. Why not de-clutter every day too? Make it a habit, just like the examples I gave, and it will become second-nature. Throughout the day, when you pull something out, take a moment to put it back when you are finished with it. At the end of the day, take a couple of minutes to do a “clean sweep” of your home and put away anything that is out of place. Keep a sticky note somewhere on your way to your bedroom to remind you for the first little while. After doing it for a month, you can take the note down because it will have become a habit – one that will serve you beautifully for the rest of your life. This simple practice can help you cut down on clutter without taking a lot of time and effort.

62 New home & condo guide SWO | february 2 - 16, 2013

062 Hellen Buttigieg FEB - impact of stuff_SL_AY-WK.indd 62

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Why real estate investing STILL MAKES SENSE by PETER KINCH A NEW YEAR HAS BEGUN AND YOU’RE ANALYZING YOUR FINANCES,

planning for the future and wondering where you can get the best return on your money. As we approach another tax season, you’ll be inundated with multiple mutual fund companies promoting the tax advantages of parking your RSP money with them. You’ll wonder about the stock market and the ongoing global issues. You’ll start to look at hard assets such as gold or precious medals. And, of course, you’ll look at real estate. The hard question is, which vehicle will produce the best results? My answer to this question will always be the same: the action is dictated by the goal. First and foremost, it is important to understand that all of the above options are simply vehicles designed to accomplish an end result. The first step is to determine what that desired end result is, and then ask yourself, which vehicle will move me closer to that goal? You may have a variety of arguments or reasons to choose one vehicle over another, but here are four reasons why you may want to consider real estate as your investment vehicle of choice, along with one caution:

On the surface, the first investor had an investment that outperformed our real estate investor by four times, but actually made less money due to the fact that it wasn’t leveraged. That’s the power of leverage. The key is to understand that it can also go the other way – and that is the importance of having a long-term strategy and investing in areas with strong fundamentals and good cash flow.

1 The power of leverage 2 Interest rates Leverage is a tool that can work for you or against you, but there is no denying Two keys to being able to develop a the fact that it is a very powerful tool. Let’s take the example of two inves- successful real estate portfolio are tors sitting on $100,000 cash. affordability and cash flow, and an ›› One investor chooses to put their capital into either the stock market or underlying fundamental to both of precious metals. If they spend $100,000 – they receive in return $100,000 those is the rate you pay for borrowin either stock or a precious metal asset. If their investment were to in- ing money. crease (perform) at a rate of 20 per cent over the course of a year (although The good news for Canadian invesI don’t presently know of any funds offering that return) their investment tors in 2013 is that we still have low of $100,000 would produce a $20,000 return. interest rates. ›› The other investor chooses to use her $100,000 cash as a 20-per-cent down Due to the ongoing global credit payment and purchase a $500,000 issues, the Bank of Canada (BoC) property in an area that has good has indicated its intent to keep rates Two keys to being able low through to 2013. But it is imporeconomic fundamentals and produces a positive cash flow every to develop a successful tant to note that the BoC can only month. Let’s assume that this influence the prime lending rate – real estate portfolio property increases by only five per which is used to determine your variare affordability and cent over the course of the year. able rate mortgage. cash flow, and an That would make the value of the It is important for consumers to property $525,000 – effectively a underlying fundamental remember that the fi xed rates are $25,000 increase in your asset governed by the bond market and that to both of those is the although value – not including the amount the BoC has indicated it rate you pay for of debt reduction or positive cash does not intend to increase the prime borrowing money. flow over the course of the year. lending rate, that does not guarantee 66 NEW HOME & CONDO GUIDE SWO | FEBRUARY 2 - 16, 2013

066-067 kinch-Why Real Estate Investing Still Makes Sense_AY-WK.indd 66

1/31/13 1:52:40 PM

that long-term rates will not rise in the meantime. A return of money to the markets will cause a drop in bond pricing followed by an increase in the bond yield, which will result in an increase in long-term rates even if the BoC leaves prime unchanged. A further threat to low interest rates is that even though we will not likely Peter Kinch is an award-winning mortgage broker and best-selling author see a rise in prime, we have already seen the disappearance of the discount of The Canadian Real Estate Action Plan on variable-rate mortgages. Due to a lack of liquidity in the global markets, Visit peterkinch.com or contact him at peter@peterkinch.com the cost of borrowing has increased for lenders. As such, variable-rate mortgages are less profitable and they have cut back on the discounts they offer. The net result for borrowers is that the amount you pay on a variable mortgage is not as attractive as it was a year ago. Although we are still largely an Having said that, we need to be very clear that even without a discount, export-dependent country, there are a prime lending rate at or about three per cent is ridiculously cheap and allows a lot of regional pockets that have a for great investment opportunities. There are multiple opportunities within strong domestic economy and are exthe Canadian marketplace that can create positive cash flow as long as the pected to grow in spite of global issues. interest rates are below four per cent and you can easily get a five-year term Look for strong GDP growth, followed today well below four per cent, so the ability to get a cash-flowing property by strong employment numbers which and lock that in for five years will be as good in 2012 as it’s ever been. in turn brings a strong tenant base. A strong tenant base combined with low 3 Seeking safe harbours interest rates creates the opportunity As the global financial markets conThere is no such thing for positive cash-flowing properties. tinue going through more drama And if the property flows cash in good as a Canadian real than a daytime television show, the times and in bad, you need not worry estate market – it is fallout is consumer angst resulting about potential for values to fall or in low consumer confidence. regional. You can have bubbles to burst. When consumers lack confiThe value of your property the solid fundamentals in dence, they tend not to make bigday after you buy it is irrelevant until ticket purchases. Real estate is obvi- one town, while another the day you go to sell it. If you are within 100 kilometres purchasing investment real estate ously one of those items and this alone could result in a slight drop could have an economy with a long-term buy-and-hold phiin market values. However, it is the solely based on exports losophy, and you have purchased in exact same angst and fear that drive an area that gives you positive cash to the U.S. consumers to seek out safe harbours flow, then you don’t need to worry in a storm, placing their money in about the hype in the headlines reareas perceived as protected from the roller-coaster that the stock market has garding property values. Just focus become. This is the reason we have seen records in the price of gold. Investors on letting your tenants pay off the are speaking with their pocketbooks and saying loud and clear that they are mortgage over time and enjoy the losing confidence in the market and want a tangible asset that they can own cash flow when you have a free and and hold. What could be more tangible than real estate and if you were looking clear asset. for a safe harbour in real estate, which country would you invest in? So, as you look at your financial Canada has been seen globally as one of the few countries to have survived options for the year, ask yourself first the last global recession relatively unscathed. In fact, our banking system and and foremost: What results do I need domestic economy have become the envy of the world. from my investments, Then analyze your options in the context of your 4 Sound economic fundamentals goals. If you choose real estate, simply Regardless of where you buy real estate, you should make your purchase based stick to the fundamentals, take action on sound economic fundamentals. There is no such thing as a Canadian real while others worry over headlines, estate market – it is regional. You can have solid fundamentals in one town, take advantage of low rates and use while another within 100 kilometres could have an economy based solely on leverage wisely. Invest and don’t specexports to the U.S. ulate, and both you and your children I expect the U.S. to be hit harder by the fallout in Europe, but that will will be glad you did in the years to impact only regional Canadian economies that depend on trade with the U.S. come. Happy investing! FEBRUARY 2 - 16, 2013 | NEW HOME & CONDO GUIDE SWO 67

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homebuyers’help

HomeBuyers’ Resource Section You love the home, see what you can afford! Compare mortgage rates for your best deal Calculate your mortgage payments using the mortgage payment calculation chart

69

069-072-073-074 Homebuyers Resource_AY.indd 69

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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

05

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

Multiply this figure by the amount you need to borrow. Divide by 1,000.

02

06

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

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

03

07

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 first-time buyers take the 25-year amortization.)

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. 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 and get pre-qualified.

72 New home & CoNdo guide swo | FEBRUARy 2 - 16, 2013

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mortgage paYmeNt calculatIon cHart % inteRest RAtes

amortIZatIon PerIods 10 YeARs

15 YeARs

20 YeARs

25 YeARs

3.00%

9.65

6.90

5.54

4.73

3.25%

9.76

7.02

5.66

4.86

3.50%

9.88

7.14

5.79

4.99

3.75%

9.99

7.26

5.91

5.13

4.00%

10.11

7.38

6.04

5.26

4.25%

10.23

7.50

6.17

5.40

4.50%

10.34

7.63

6.30

5.53

4.75%

10.46

7.75

6.44

5.67

5.00%

10.58

7.88

6.57

5.82

5.25%

10.70

8.01

6.74

5.96

5.50%

10.82

8.14

6.85

6.10

5.75%

10.94

8.27

6.98

6.25

6.00%

11.07

8.40

7.12

6.40

6.25%

11.19

8.53

7.26

6.55

6.50%

11.31

8.66

7.41

6.70

6.75%

11.43

8.80

7.55

6.85

7.00%

11.56

8.93

7.69

7.00

7.25%

11.68

9.07

7.84

7.16

7.50%

11.81

9.21

7.99

7.32

7.75%

11.94

9.34

8.14

7.47

8.00%

12.06

9.48

8.28

7.63

8.25%

12.19

9.62

8.44

7.79

8.50%

12.32

9.76

8.59

7.95 8.12

8.75%

12.45

9.90

8.74

9.00%

12.58

10.05

8.86

8.28

9.25%

12.71

10.19

9.05

8.45

9.50%

12.84

10.33

9.20

8.62

9.75%

12.97

10.48

9.36

8.78

10.00%

13.10

10.63

9.52

8.95

10.25%

13.24

10.77

9.68

9.12

10.50%

13.37

10.92

9.84

9.29

10.75%

13.50

11.06

10.00

9.46

11.00%

13.64

11.22

10.16

9.63

11.25%

13.77

11.36

10.32

9.80

11.50%

13.91

11.52

10.49

9.97

11.75%

14.04

11.66

10.65

10.15

12.00%

14.18

11.82

10.81

10.32

12.25%

14.32

11.97

10.98

10.49

12.50%

14.46

12.13

11.15

10.67

12.75%

14.59

12.28

11.31

10.85

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 2 - 16, 2013 | New home & CoNdo guide swo 73

069-072-073-074 Homebuyers Resource_AY.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 3

4 6.30op

3.1 6.30op

3.14 3.7 4.39 6.50op

3.19

Alterna Svgs/Alterna Bk 3

4 6.30op

3.05 3.09 3.09 3.29 6.30op

3.24

Bank of Montreal 3.1

4 6.30op

3 3.04 3.65 4.64 6.30op

3.09

Bank of Nova Scotia 3

4.55 6.45op

3.75 3.89 2.79 4.39 6.50op

3.99

Canadian Western Bank

4 6.45op

3.1 3.14 3.7 4.64 6.30op

5.24

CIBC 3.2 6.70op

3 3.14 3.5 4.39 6.35op

5.24

HSBC Bank Canada 3

2.7 3.95 2.98 4.99 6.35op

3.49

ICICI Bank Canada

4.45 6.20op

3.15

3.65

3.64

3.69

3.44

3

3

2.79

3.25

3.08

3.09 3.14 3.7 3.64 6.30op

3.79

3 3.05 3.1 3.1 4.00op

3.09

MonCana Bank

2.94

2.99

3.04

National Bank n/a

3.1 3.14 3.7 3.19 6.30op

3.79

ING Direct

3.05 3

Laurentian Bank n/a

4.4 6.70op

Manulife Bank 3 4.45

President’s Choice Finan

4 6.70op

3.2

Royal Bank 3.2

4 6.30op

2.94

3.2

2.94

3.35

3.44

3 3.04 2.99 4.64 6.30op

3.24

3.29

TD Canada Trust 3.2 3 3.04 3.65 3.49 3.29 6.30op TRUST COMPANIES AGF Trust

n/a

2.99

3.1

3.5

3.64

Community Trust

n/a

6.5

3.1

3.35

3.95

4.64

Effort Trust n/a

4.45 6.30op

3.25 3.6 3.9 4.5 6.30op

4.95

Home Trust Company

3.2

2.69

2.89

3.14 5.24

3.95

2.74

3.15

2.99

Investors Group Trust n/a

4 6.50op

3 3.14 3.65 4.64 6.30op

5.24

MTCC 3

4.55 6.45op

3.75 3.89 2.79 4.39 6.50op

3.99

4 Airline Financial C.U.

2.99 6.25op

3.09

3.49

Comtech Credit Union 2.79

6.6 8.40op

2.99 3.25 3.29 3.19 9.00op

3.29

First National Fin. LP

3.95

2.74

OTHER FINANCIAL INSTITUTIONS 3.25

3.15

3.09

FirstOntario C.U. 2.79 6.34op

3.09 3.19 3.24 3.29 6.34op

3.24

London Life n/a

3 3.14 3.65 4.64 6.30op

5.24

MCAP 2.9

3.6 3.95 4.35 4.89 7.00op

5.24

Meridian Credit Union 2.85 4.45

3.1 3.14 3.7 3.4 6.30op

3.28

Parama Credit Union

2.9

3.1

3.15

3.15

3.25

3.5

Steinbach Credit Union

2.5

2.5

2.6

2.8

2.9

3.1

3.05 6.50op

3.15

2.79

3.89

3.29

Teachers Credit Union 4

4 6.50op

4.45 6.30op

2.79

3.29

2.89

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 Jan. 28, 2013. Prepared By Fiscal Agents Financial Information Services 905.844.7700

74 New home & condo guide SWO | february 2 - 16, 2013

069-072-073-074 Homebuyers Resource_AY.indd 74

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106 NEW HOMES SOUTHWESTERN ONTARIO | JANUARY 12 - 26, 2010

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2012

2012 The Only Complete Resource Directory of Eastern Ontario Home Builders

The Only Complete Resource Directory of Southwestern Ontario Home Builders

Discover Ottawa/Gatineau’s top builders and developers – one success story at a time

Discover SWO’s top builders & developers

›› EXPERT PANEL: Why now is a great time to buy ›› MORTGAGE ADVICE: Beware of mortgage rate fixation

BILD CONTEST WINNERS

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TIPS FOR A STUNNING HOME OFFICE MAKEOVER

EXPERT PANEL:

Why now is a great time to buy MORTGAGE ADVICE:

Choosing the term that’s right for you

CUTTING-EDGE

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PREMIER

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2012 The Only Complete Resource Directory of GTA Condominium Builders

The Only Complete Resource Directory of GTA Home Builders

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Please recycle our magazines! Trader Corporation participates in the Partner’s In Growth Reforestation Program through St. Joseph Communications. To date, Partners in Growth has planted over two 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.

Brought to you by JANUARY 12 - 26, 2010 | NEW HOMES SOUTHWESTERN ONTARIO 107

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hotdates

feb. 8 - 10

World of Motorcycles Expo WESTERN FAIR DISTRICT AGRIPLEX 845 FLORENCE ST. LONDON

The World of Motorcycles Expo will create an atmosphere and a forum where motorcycle enthusiasts can share their excitement and passion for the sport of motorcycle riding and its lifestyle. womex.ca

feb. 16 - 17

2013 Niagara Golf Show & Sale NIAGARA FALLS SPORTSPLEX 3710 SINNICKS AVE., NIAGARA FALLS

feb. 8 - 10

1st Annual London Bicycle Show WESTERN FAIR DISTRICT AGRIPLEX 845 FLORENCE ST. LONDON

Feb. 2 to 16 Calendar of events beginning from Feb. 2 to 16, 2013

The London Bicycle Show will gather and show off the latest in bicycles and accessories. From touring to mountain bikes, from custom to kids bikes. This is a family-friendly show where you can show and compare machines of all kinds and enjoy the warmth and activity inside the Western Fair District Agriplex building in February, while anticipating the riding season ahead! londonbicycleshow.ca

Celebrate new golf season at the Niagara Falls SportsPlex. Try new clubs from Adams, Callaway, Mizuno, Ping, TaylorMade and Titleist at the Full-Flight demo zone, and get tips from PGA of Niagara pros. niagaragolfshow.ca

feb. 16 - 18

Hamilton Kids-Fest CANADIAN WARPLANE HERITAGE MUSEUM 9280 AIRPORT RD., HAMILTON

Celebrate Family Day weekend at Central Ontario's largest indoor inflatable festival. Kidsfest shows are designed to make your kids bounce, laugh, play, run and scream in some of North America's largest indoor inflatables. kids-fest.ca

february 2 - 16, 2013 | New home & condo guide SWO 75

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advertiserindex adi development: Mod’rn Condominium

50

Homes by DeSantis: Lincoln Square

11

ancaster fall home show

54

losani homes: Multi-site

51

Bayview Wellington: Niagara-on-the-Green

4

mattamy homes: Wildflowers

Bayview Wellington: Victoria Village

5

melloul-blamey construction: Serene Condos 29

branthaven Homes: Multi-site

12 & 13

menkes developments: Millstone on the Park

6

42

brookfield Homes: Grand Valley Trails

39

menkes developments: Enclaves of Upper Canada 43

Claysam Homes: Devonshire

63

Mountainview Homes: Corporate

country green Homes: West Bloom

7

new Horizon: City Square

34 23

dunsire developments: Mill Creek Village

27

reid’s heritage: Eby Estates

eastforest Homes: Woodway Trails Simcoe

41

reid’s heritage: Lora Bay

Empire Communities: Multi-site geranium Homes: Woods of Sally Creek Great gulf: Thorold

2&3 17 78 & 79

9

BC

rosehaven homes: Multi-site

38

silvestri invest.: Cityview Terraces & Harvest Glen

47

spallacci homes: Eden Park

35

Greater hamilton home show

46

Tillsonburg developments: Baldwin Place

65

Haastown holdings: The Grand

25

tobyn park homes: ParkCity

55

76 New home & condo guide SWO | february 2 - 16, 2013

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fundamentallyspeaking

PLANNING TO BUY NEW?

Now is a good time 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

The issue is not exclusive to the GTA. Tuckey and Deveaux’s counterparts in Hamilton, Ottawa and elsewhere in the province are citing similar challenges. In our last issue, for example, Hamilton-Halton Home Builders’ Association Executive Officer Mathieu Langelier wrote about how one city council decision was directly adding at least $3,000 to the cost of new homes in Hamilton. A builder recently recounted a story about how one municipality instituted at 125-per-cent increase in development charges – yes, 125 per cent – as the city in question (and others across the province) tries to improve on decades-old infrastructure. The company saw talking the municipality down to only a 100-percent increase as a victory. The net effect of this action is that each homesite in the proposed development begins at $65,000 – before a shovel even hits the ground. What effects new home prices more than market conditions is hard costs – land, materials, trades and development fees – and none of those is going down. If you’re lucky, you may fi nd a builder selling off remaining lots in a community by offering incentives such as upgrades WHAT’S AFFECTING SUPPLY TO SUCH AN EXTENT? to standard features, credits in décor BILD president and CEO Bryan Tuckey explains that “The decline in centres or design services – or slight dislowrise sales is a direct result of provincial public policy that has en- counts off inventory. But developers are couraged intensification in existing communities and constrained land more likely to delay a project launch, supply in the regions surrounding the city of Toronto.” rather than lower prices. Adds BILD First Vice-Chair Steve Deveaux: “Governments must So, John and other prospective newacknowledge that the constraints being placed on the market, particu- home buyers – there’s no need to wait. If larly in the lowrise sector, are having dire results. Land constraints, you’re financially prepared (and the Bank regulatory requirements and a complex approval process fraught with of Canada just, once again, announced it delays are seriously challenging the vitality of the lowrise sector, as well was holding interest rates), now is a good as housing choice for the new-home buyer.” time to buy.

“BUY LAND, THEY’RE NOT MAKING IT ANYMORE.” NO DOUBT

you’ve heard this adage, originally a quote from Mark Twain, but what you may not realize is just how prophetic the sentiment has become, particularly when it comes to the home building industry. A review of 2012 sales from the BILD Industry and Land Development Association (BILD) and RealNet Canada Inc. provides some excellent insight into how policy issues are affecting the market. Specifically, it underlines how challenging land availability is becoming for developers – and, though they may not realize it yet – for consumers. A recent conversation with a prospective new-home buyer illustrates the point from the latter’s perspective. John Brown (not his real name) was discussing his plans to buy a new lowrise home and, after reading reports that “the housing market is slowing,” he said he decided to wait, until, in his words, “prices come down some more.” Well, John, prices may indeed dip in some areas of Southwestern Ontario and the GTA, and in some housing categories, but your generalization that new lowrise home prices are going to come down across the board is not entirely accurate. Perpetuating a common misconception, John fails to differentiate the new home market from resale. Generally, the two are very different, and the factors that influence each are distinct. Now is still a good time to buy a new home – and here’s why. In the Toronto example, the issue affecting new home sales is not the “slowing market,” rather land supply and other challenges specific to the home building industry. The results speak for themselves. Lowrise new home sales in the GTA are way down, as is lowrise supply. Prices in the same period, meanwhile, are way up – great for people who’ve already bought new homes, but less so for prospective buyers on the new-home hunt now.

FEBRUARY 2 - 16, 2013 | NEW HOME & CONDO GUIDE SWO 77

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78 New home & condo guide SWO | february 2 - 16, 2013

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*$15,000 in upgrades on 42’ lots and $20,000 on 50’ lots. Linked below grade. See sales representative for details. Prices, sizes and specifications subject to change without notice. E. & O.E. Illustration is artist’s impression. All square footages are approximate. Actual usable space varies from stated floor area.

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