Southwestern Ontario New Home and Condo Guide - Nov 19, 2016

NOV 19 - DEC 3, 2016 VOLUME 19, ISSUE 21, FREE

SOUTHWESTERN ONTARIO EDITION

THIS IS YOUR L AST CHANCE TO RESIDE IN ONE OF A N C A S T E R’ S M O S T P R E S T I G I O U S NEIGHBOURHOODS

The Hamilton Elevation A

CARR-LEG-A-AD-NHC-SW-COVER-NOV9-1.indd 1 ONTARIO TO LEAD INSIDE

THIS ISSUE

NATIONAL ECONOMIC GROWTH – AGAIN

SWO MARKETS THE MOST BUILDER- AND BUYER-FRIENDLY

2016-11-16 ST. CATHARINES: VIBRANT CITY, FLOURISHING SURROUNDINGS

9:06 AM

READY FOR YOUR NEXT PHASE?

HOMES CONDOS COMMUNITIES

#ASKEMPIRE TO FIND A HOME THAT FITS YOUR LIFESTYLE. Whether you’re researching or have bought a new home, Empire’s comprehensive collection of resources will help you along every step of the journey. Visit our new website and discover the answers to all your home buying questions today.

Explore the possibilities at empirecommunities.com

contents NOV 19 - DEC 3, 2016 | VOLUME 19 ISSUE 21

PRESIDENT, YELLOW PAGES NEXTHOME

Jacqueline Hill ASSOCIATE PUBLISHER

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

Susan Legge DIRECTOR OF SALES, NATIONAL

Moe Lalani EDITOR

Wayne Karl ART DIRECTOR

Daiana Garay CONTRIBUTING EDITORS

Sonia Bell Elisa Krovblit Lydia McNutt SENIOR ACCOUNT EXECUTIVE

Nina Downs nina.downs@ypnexthome.ca SENIOR ACCOUNT EXECUTIVE

Dionne Fraser dionne.fraser@ypnexthome.ca

12

SALES CO-ORDINATOR

Sarah Khan MANAGER OF PRODUCTION

Helen Pearce

ON THE COVER

12

CO-ORDINATOR

Carriage Gate Homes

Sandra Hanak-Vujnovic

Last few lots available at Legacy in Ancaster

GRAPHIC DESIGNER

Miguel Cea CONTRIBUTING WRITERS

property profiles

advice

20 Starward Homes

42 Fundamentally Speaking

Sophisticated condo living at Hamilton’s Scenic Trails

28 Eastforest Homes

Woodway Trails community puts everything in reach

36

What the new mortgage rules could mean for you

buyers’ resource section

15

Sifton Properties

New releases and grand openings

Move in now to homes built for life by Sifton Properties

31 trending

10

22

Housing Market

Red tape costing builders – and buyers – thousands

Rosehaven Homes

Celebrating the Grand Opening at Affinity Condos

40 Economy

Ontario to lead economic growth – again

city focus

14

St. Catharines

Vibrant city, flourishing surroundings

6 YPNEXTHOME.CA

Hot Properties Hamilton

Hot Properties Kitchener-Waterloo & London

New releases and grand openings

43

Mortgage Rates

in every issue

8 Editor’s Note 44 Advertiser Index 45 What’s Online

Joanne Keenan Jeffrey Reed

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

ADVERTISING Call 416.626.4200 for advertising

rates and information Office hours are Mon-Thurs. 9-5; Fri. 9-12 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 2016 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. Yellow Pages Next Home is a trademark of Yellow Pages Group Co. in Canada.

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

CALL HAMILTON HOME THREE COMMUNITIES OFFERING QUALITY & AFFORDABILITY COMING SOON

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3-STOREY TOWNS

300’s

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FROM THE HIGH

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2-STOREY TOWNS FROM THE

ANCASTER

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BECOME A VIP REGISTER NOW LosaniHomes.com Pricing and specifications subject to change without notice. Rendering is artist concept. Map not to scale. E.&OE.

Editors' Notes

PORT DALHOUSIE

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

SEE MORE ONLINE ypnexthome.ca/port-dalhousie

Targeted info for your benefit Before we launched our new look and website, YPNextHome.ca, we brought a formal focus group of Canadians together to ask about real estate. We specifically questioned what factors in someone’s life would make them want to move. One of the top three reasons was the desire to live in a different neighbourhood.

Respondents said they wanted access to better schools and amenities such as transit, shopping, greenspace and parks.

With so many areas for you to choose from, we created a Canadawide resource of neighbourhood information and listings – on a local

level. At YPNextHome.ca, you’ll find statistical information on more than 2,700 neighbourhoods, featuring data, listings, fun facts and more.

We’ve included interesting info on key residential neighbourhoods, including photos and video tours.

Check out the Port Dalhousie neighbourhood, for example.

We hope you’ll explore a few of the neighbourhoods we’ve curated for you on our website. Drop us a line and a photo showing what you love most about your favourite neighbourhood. We’d love to hear from you!

Nov. 22 – the beginning of our future

WAYNE KARL Senior Editor

Yellow Pages NextHome Email: Wayne.Karl@ypnexthome.ca Twitter: @WayneKarl

+ get social 8 YPNEXTHOME.CA

At time of writing, many Canadians were still trying to make sense of the outcome of the Nov. 8 U.S. presidential election.

Whatever the future south of the border brings, it is also time for us to go back to our regularly scheduled lives. In Canada, business as usual now refocuses on our own reality – improving the economy, creating jobs and working on a National Housing Strategy.

The culmination of months of

consultation with federal, provincial and territorial ministers, industry experts and everyday Canadians, a report on the Strategy due on Nov. 22 will lay the foundation for a multilateral framework to be developed in 2017.

With the objective to create the cornerstone of sustainable, healthy and inclusive communities and a strong Canadian economy where we can prosper and thrive, Nov. 22 is, in many ways, the beginning of our future.

Interact with us on social media: ypnexthome

60

O S %

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T U

the good life, just better.

NOW OPEN! BREAKFAST IN YOUR GOURMET KITCHEN. SIPPING COFFEE ON YOUR BALCONY. BEACHSIDE DAYS. URBAN NIGHTS. DOWNTOWN DINING, BOUTIQUES AND SHOPS. A DAY AT THE MUSEUM. DINNER PARTIES FOLLOWED

BY COCKTAILS IN THE PARTY ROOM. DESIGNER SPACES. THE VERY BEST IN QUALITY. THE REGION’S BEST LOCATION MINUTES TO THE COVETED LAKESIDE COMMUNITY OF PORT DALHOUSIE AND TRENDY DOWNTOWN ST. CATHARINES. YOUR HOME AT ELEMENTS... WHERE LUXURY IS STANDARD.

A MODERN CONDOMINIUM OFFERING LUXURY ONE AND TWO BEDROOM PLUS DEN PLANS, FROM THE MID

289.929.1377 elementscondo.com Prices are subject to change without notice. E.&O.E. Offer valid for a limited time. Subject to availability.

SALES CENTRE: 218 LAKEPORT ROAD, UNIT 6, ST. CATHARINES MONDAY–WEDNESDAY, SATURDAY & SUNDAY 12-6 P.M.

DOWNTOWN

$200’S

Trending

Red tape Regulatory procedures costing builders – and buyers – tens of thousands of dollars, creating future challenges development,” Green says.

Estimates of typical project approval timelines in GGH cities range from 14.4 months in Burlington and 15.1 months in Barrie, to 22.3 months in Clarington and 24.3 months in Georgina.

Opposition to residential development is perceived as strongest in cities where dwelling values are highest, raising questions about the causes and consequences of local resistance to new housing.

The strongest opposition is reported in King Township, Toronto and Oakville.

Greater Golden Horseshoe municipalities (least regulated at the top):

THE COST OF COMPLYING with residential development regulations in Hamilton is less than half of what it is in Toronto, according to a survey of home builders released by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.

New Homes and Red Tape in Ontario: Residential Land-Use Regulation in the Greater Golden Horseshoe finds that typical compliance costs were $46,569 per unit of new housing in Toronto, compared to $20,961 in Hamilton.

In Oakville, one of the most regulated municipalities in the region, the cost is more than $60,000.

“Costly and confusing regulations, long approval times, rezoning delays and overall uncertainty for 10 YPNEXTHOME.CA

developers both increases the costs and impedes new homes from being built throughout the Golden Horseshoe,” says Kenneth Green, a senior research director at the Fraser Institute and co-author of the study.

The red tape ranking, which includes survey data from 2014 and 2016, compares municipalities in the Greater Golden Horseshoe on the length and uncertainty of construction approval times, regulatory costs and fees, rezoning prevalence and level of opposition to development.

“If city councils in the Golden Horseshoe really want to increase the supply of housing and lower prices, they should consider more sound regulatory regimes that encourage, not stifle, residential

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Burlington Hamilton Milton Brampton Uxbridge Whitby East Gwillimbury Markham Vaughan Newmarket Halton Hills Oshawa Bradford West Gwillimbury Mississauga Pickering Whitchurch-Stouffville 17.

Caledon Richmond Hill Aurora Toronto Oakville Ajax King Township *Aggregate index includes only municipalities that garnered sufficient numbers of survey responses.

IE W R 80 IN % G VI S O P L PR D EV U D

NOW OPEN

STARTING FROM THE HIGH

$200s A stunning architectural presence on Grimsby’s exciting new waterfront.

ENJOY FABULOUS AMENITIES Welcoming Loggia Entry • Outdoor Pool and Lounge • Exquisite 2 Storey Lobby and Mezzanine • Theater Room Billiards Room • Club Room overlooking the pool and courtyard with breathtaking vistas of the lake

1, 1 Bedroom + Den and 2 Bedroom Designs Select Penthouse Residences with Panoramic Lake Views SmartSuite™ units starting from the high $200s

Direct access to the Grimsby Casablanca slated for completion 2021.

LAKE ONTARIO

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10 WINDWARD DR. QUE EN ELIZ ABE SO TH W UT H AY

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D.

CASABLANCA BLVD.

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RD.

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

PRESENTATION CENTRE 10 Windward Drive, Grimsby ON Mon-Thu: 1pm-7pm Fri: By Appointment Only Sat-Sun: 12pm-5pm Phone: (289) 235-8541 Email: aquazul@homesbydesantis.com

AquaZulCondo.ca

Rendering is artist’s concept. Prices and specifications subject to change without notice. Go Transit is a registered trademark of Metrolinx and is not affiliated with Homes by DeSantis or Aquazul. E.&O.E.

Station

Property Profile | CARRIAGE GATE HOMES

cover story

Carriage Gate Homes offers its last few lots at

Legacy in Ancaster SITUATED IN ONE OF ANCASTER’S most prestigious and established neighbourhoods, Legacy offers one of the finest collections of elite residences ever to be built in the Hamilton area.

Homebuyers have recognized it as such, to the point where now only a few choice lots remain for those who act quickly.

An intimate enclave of single-family homes on 50-, 55-, 60- and 66-ft. lots, the estate-inspired residences are distinguished by their timeless architectural designs, each a one-of-a-kind masterpiece from the design team at Carriage Hill Homes.

Located off Lime Kiln Road, and currently under construction, Legacy features a fantastic choice of big 12 YPNEXTHOME.CA

bungalow, bungaloft and two-storey designs, ranging in size from 2,364 to 4,243 sq. ft. and priced from the $900’s.

Recognized as one of Ontario’s leading home builders, Carriage Gate’s reputation for integrity, innovation and fine craftsmanship is reflected in this incredible new home community. Offering discerning homeowners a true private oasis, Legacy was recently presented with three prestigious awards by the Hamilton-Halton Home Builders’ Association, including Best Exterior,

Location

Ancaster Builder

Carriage Gate Homes Development

Legacy Home Type

Estate-inspired single-family homes on 50-, 55-, 60- and 66-ft. lots Sales Centre

245 Lime Kiln Rd., open Monday to Thursday 3 to 7 p.m., Saturday and Sunday noon to 5 p.m., Friday by appointment only Contact

carriagegatehomes.com Paul Ciardullo, 905.975.9191 paulc@efforttrust.ca

Best Kitchen and Best Custom Home.

The community was also a nominated for the prestigious Project of the Year award.

Exquisitely designed both inside and out, Legacy offers only the finest features and finishes. The architecturally designed exteriors blend a striking combination of stone, stucco and genuine clay brick. Interiors include bright, openconcept floor plans, nine- and 10-ft. ceiling heights, gas fireplaces, natural oak staircases and engineered oak hardwood flooring. Meticulously designed, the chef-inspired gourmet kitchens feature extended height upper cabinetry, granite countertops, large centre islands and imported ceramic porcelain flooring. With spacious master bedrooms offering beautiful ensuite baths and generous

walk-in closets, no detail of new home design has been overlooked at the Legacy.

Nestled amidst the glorious Niagara Escarpment, residents at Legacy will enjoy the neighbourhood’s extraordinary lush green setting.

Surrounded by ridges and creeks, ponds and waterfalls, scenic parks and championship golf courses, Legacy brings the wonder of the outdoors right to your doorstep.

Residents are also just a short distance from the historic Ancaster Village where they will find an amazing array of boutique shops, fine dining, the town library and so much more. Modern conveniences also abound with big box stores, movie theatres and restaurants just a few kilometres away.

A residential homebuilder with

30 years of experience, Carriage Gate Homes has earned a solid track record for its high calibre of homes throughout Hamilton and surrounding areas. Their award-winning craftsmanship and exceptional designs have contributed to their longstanding reputation for building custom-quality homes, and Legacy is no exception. Epitomizing fine living, their newest collection of family residences here provides homebuyers with unsurpassed timeless luxury in the most soughtafter new home community in the Ancaster-Hamilton area.

But do hurry – with only a handful of select lots remaining, this is your final opportunity to make owning a home here part of your own family legacy.

The Legacy Sales Centre is located at 245 Lime Kiln Rd. in Ancaster.

Hours are Monday to Thursday from 3 to 7 p.m., Saturday and Sunday from noon to 5 p.m., Friday by appointment only. For more information, visit carriagegatehomes.com Interested homebuyers can also contact Paul Ciardullo, broker at Effort Trust, at 905.975.9191 or paulc@efforttrust.ca

NOV 19 - DEC 3, 2016 | NEW HOME & CONDO GUIDE SWO 13

City Focus | ST. CATHARINES

ST. CATHARINES Vibrant city, flourishing surroundings

THE FLORAL AND FRAGRANT

gateway to Niagara is St. Catharines, the Garden City. While it may seem to take its nickname from thousands of acres of blossoming gardens, parkland, orchards, vineyards and farmland which surround it, it could easily be a result of the substantial greenhouse industry which thrives within the protective shelter of the Niagara Escarpment.

Named after the wife of its first mayor, William Hamilton Merritt, St. Catharines lies between the shores of Lake Ontario and the Niagara Escarpment, 10 minutes from Niagara Falls, 45 minutes from Hamilton and about 110 kms from Toronto’s Pearson Airport.

With a population of 131,400, St. Catharines is home to almost a third of the residents of the Niagara region. The city has maintained a diverse blend of industry and commerce which successfully co-exists with a rich agricultural 14 YPNEXTHOME.CA

heritage. The soil and climate conditions and the protective environment of the escarpment make this area ideal for growing vegetables and tender fruit which complement the related food processing industry. This is also Canada’s most celebrated and prolific wine-producing region. The region accounts for more than 40 per cent of Canada’s $300-million flower and ornamental plant industry.

Almost 3,000 full-time workers are employed by area growers who supply national and international markets.

On the outskirts of the city is the Wine Route, a scenic trail that winds through Niagara to each of the local wineries. With the considerable growth in the wine industry, St. Catharines benefits from the creation of agricultural jobs that lead to manufacturing positions at wineries and

processing plants, plus skilled specialists, marketing, sales and retail positions at almost 100 wineries in the Niagara area.

The extensive waterways, trail systems and parklands of St. Catharines create a natural network of recreational opportunities that include fishing, sailing, boating, hiking, cycling and golfing.

St. Catharines has also prospered as a shopping mecca and features the region’s largest mall, the Niagara Outlet Mall.

It comes as no surprise that home building is big business, especially when Niagara has become a retirement destination.

Among those contributing to the economic impact are some of the region’s largest home builders – Mountainview Homes, Empire Communities, Bayview-Wellington Homes and Phelps Homes – with a variety of product offerings and price points.

Hot Properties

Find your next home! This page features a few of the latest properties to keep your eye on in Southwestern Ontario. Find more properties at ypnexthome.ca

LATEST LISTINGS

HAMILTON HALTON NIAGARA ANCASTER • BEAMSVILLE • BINBROOK • BRANT • BRANTFORD • BURLINGTONCATHARINES • GRIMSBY • HAMILTON • MILTON • NIAGARA • OAKVILLE • PARIS PORT DOVER • ST. CATHARINES • STONEY CREEK • VINELAND THE GATSBY

pre-registration MERRITTON COMMONS By: Phelps Homes City: St. Catharines Housing type: Attached bungalows and bungalow towns phelpshomes.com

SCENIC TRAILS By: Starward Homes City: Hamilton Housing type: Condominiums from the mid $200’s scenictrails.ca

VISTA RIDGE By: Losani Homes City: Beamsville Housing type: Singles from the $400’s myvistaridge.ca

ALCONA SHORES By: Bayview-Wellington Homes City: Innisfil Housing type: Luxury singles on 32-, 40- and 48-ft. lots myalcona.com

THE WEST By: Adi Developments Location: Burlington Housing type: Luxury boutique condos from the $190’s adidevelopments.com

PARADIGM By: Molinaro Group City: Burlington Housing type: Condo suites in midtown Burlington paradigmcondos.ca

CENTRAL PARK By: Losani Homes City: Hamilton Mountain Housing type: Townhomes from low $300’s mycentralpark.ca

SAPPHIRE

By: New Horizon City: Hamilton Housing type: Condos from the low $200’s gatsbycondos.ca

By: New Horizon City: Stoney Creek Housing type: Waterfront condominiums from $199,999 sapphirecondos.ca

WOODWAY TRAILS

FALLINGWATERS

By: Eastforest Homes City: Simcoe Housing type: Singles from $327,900 and semis from $224,900 eastforesthomes.com

By: Losani Homes City: Hamilton Mountain Housing type: Two- and threestorey towns from the $400’s losanifallingwaters.com

STEPPING STONES

TIFFANY HILL

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

SIMPLY GRAND By: Losani Homes City: Paris Housing type: Townhomes from from the $300’s simplygrandtowns.com

SUMMERLEA WOODS By: Empire Communities City: Binbrook Housing type: Townhomes from the mid $300’s and detached homes from the low $400’s summerleawoods.com

LIFE By: Branthaven Homes City: Winona Housing type: Townhomes from the $300’s branthaven.com

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

AQUAZUL By: Homes by DeSantis City: Grimsby Housing type: Waterfront condominiums aquazulcondo.ca

By: Rosehaven Homes, Homes

by DeSantis & CDI Homes City: Ancaster Housing type: Detached homes and freehold townhomes tiffanyhill.ca

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

AVALON By: Empire Communities City: Caledonia Housing type: Townhomes from $239,990 and detached homes from the mid $300’s empireavalon.com

THE WOODLANDS ANCASTER By: Losani Homes City: Ancaster Housing type: Singles on forest court lots from the $500’s woodlandsancaster.com

PURE By: Branthaven Homes City: Milton Housing type: Two-storey freehold townhomes branthaven.com

LAKE HOUSE By: Branthaven Homes Location: Grimsby Housing type: Waterfront townhomes and condos lakehouselife.ca

THE BERKELEY CONDOMINIUMS By: Carriage Gate Homes City: Burlington Housing type: 154-unit condo carriagegatehomes.com

new openings AFFINITY CONDOMINIUMS By: Rosehaven Homes Location: Aldershot, Burlington Housing type: Condos from the low $300’s affinitycondo.com

HE PRESERVE By: Mattamy Homes City: Oakville Housing type: Executive condo townhomes from the mid $800’s mattamyhomes.com

STATIONWEST By: Adi Developments Location: Burlington Housing type: Three-storey townhomes at Aldershot Go Station adidevelopments.com

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

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

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ypnexthome.ca

Paris

Port Dover

Simcoe

Binbrook

Grimsby

Georgetown

Caledon

Smithville

Welland

Fonthill

Thorold

Ridgeway

Stevensville

Chippawa

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

Halton / Hamilton / Wentworth / Niagara:

SEARCH ONLINE Fort Erie

BUILDERS

SITES

Ancaster

CARRIAGE GATE HOMES

Legacy Ancaster

Ancaster

LOSANI HOMES

Astoria Grand

Ancaster

LOSANI HOMES

The Woodlands Ancaster

•

Beamsville

LOSANI HOMES

Vista Ridge

Brantford

EMPIRE

Wyndfield

Burlington

ROSEHAVEN HOMES

Affinity Condominiums

Caledonia

EMPIRE ADVERTISERS

Avalon

PRICES

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from $900's

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from $300's

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from high $700's

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from low $300's

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2&3

Greensville

THOMAS COCHREN HOMES The Greystones

Grimsby

BRANTHAVEN HOMES

Lake House

•

from $400's

Grimsby

HOMES BY DESANTIS

Aquazul

•

from high $200's

Hamilton

BRANTHAVEN HOMES

Explore

Hamilton

LOSANI HOMES

Central Park

Hamilton

LOSANI HOMES

Fallingwaters

Hamilton

STARWARD HOMES

Scenic Trails

Niagara

BW HOMES

Passages on the Canal

St Catharines

MOUNTAINVIEW HOMES

Elements

St Catharines

PHELPS HOMES

Merriton Commons

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Simcoe

EASTFOREST HOMES

Woodway Trails

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Winona

BRANTHAVEN HOMES

Life

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from $1,400,000

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

LOCATION

Halton / Hamilton / Wentworth / Niagara:

D et Se . m Bu i n To gal w ow C nh o o Ad ndo me ul tL ife st yle

ADVERTISER'S MAPPING INDEX

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GUELPH

HWY 5

HWY 8

GREENSVILLE

HAMILTON

BROCK RD.

PETERS CORNERS

N HWY 6

DUNDAS

HWY 403

TORONTO

SCENIC TRAILS C

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OPENING NOVEMBER 2016

FROM THE MID

200'S URBAN LIVING, SUBURBAN SETTING

Main St. W.

Mohawk Rd. W.

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Garth St.

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FOR VIP ACCESS AT WWW.SCENICTRAILS.CA

Aberbee

Scenic Drive.

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REGISTER NOW

Main St. W. 403

Sc

Located at 1 Redfern Avenue, on the highly sought-after Hamilton west mountain brow.

McMaster University

Property Profile | STARWARD HOMES

Sophisticated condo living in

Hamilton’s Scenic Trails community THE SCENIC TRAILS COMMUNITY located in the

much sought-after Hamilton west mountain brow is now on track to begin construction of its only lowrise building – the Scenic Trails Condominiums. Featuring upscale amenities amid a tranquil natural outdoor setting, this final phase of the development offers an unprecedented opportunity for resort living in one of southern Ontario’s hottest housing markets.

A joint venture between Starward Homes and Effort Trust, the community already consists of 45 condominium bungaloft townhomes and 20 YPNEXTHOME.CA

14 attractive single-family homes based on original designs. Founded in Hamilton more than 100 years ago, Starward Homes has established a reputation for building distinctive neighbourhoods and exceptional homes for adult lifestyle living.

The building features four stories and 144 units ranging from 672 to 1,300 sq. ft., with access to a wide variety of exciting amenities. Residents will enter through an inviting modern lobby and lounge. A fully equipped

Location

Hamilton Builder

Starward Homes Development

Scenic Trails Home Type

45 condominium bungaloft townhomes and 14 single-family homes Contact

scenictrails.ca

gym and yoga studio along with access to a games room, media room and meeting room provide ample opportunities for personal enjoyment within the building.

When entertaining a larger group of friends, an elegantly appointed party room, complete with available wine cellar and private wine lockers is at the ready. A dog washing station, storage lockers, underground parking and bicycle storage are just a few additional conveniences that residents will enjoy. When beautiful weather beckons outdoor entertaining, “The Cave” connects a landscaped interior courtyard featuring gas fire pits with an outdoor barbecue area.

Residents of the Scenic Trails Condo will appreciate the magnificent views of the west end of Hamilton and the Dundas Valley along the

Chedoke Rail Trail. Hamilton is home to more than 100 waterfalls and cascades, most of which are on or near the Bruce Trail as it winds through the Niagara escarpment.

Whether residents choose to wander one of the many trails on offer, explore the local theatre scene, or stroll through the vibrant downtown, an active and enriching lifestyle is just outside the doorstep of the Scenic Trails Community.

The Scenic Trails Condo will have it all, featuring several fabulous recreational amenities to maintain a healthy and vibrant lifestyle that features: » An inviting modern lobby and lounge » A fully equipped gym and yoga studio

» Entertaining games room, media room and meeting boardroom » Elegantly appointed party room, complete with wine Cellar, and private wine lockers » “The Cave,” a unique indoor/ outdoor space connecting two landscaped interior courtyards featuring gas fire pits and an outdoor barbecue area for entertaining » Underground parking » Bicycle storage and repair station » Available storage lockers and a convenient dog wash station

To learn more about this exciting opportunity to live in the Scenic Trails Community, visit scenictrails.ca for VIP access to updates and the VIP event.

NOV 19 - DEC 3, 2016 | NEW HOME & CONDO GUIDE SWO 21

Trending

Rosehaven homes celebrates the Grand Opening of

Affinity Condominiums in Burlington THE SUN SHONE DOWN as autumn

leaves framed the sales centre of Affinity Condominiums on Saturday, Nov. 5 for the Grand Opening of this new community in the rediscovered neighbourhood of Aldershot in Burlington.

The crowd grew excited as Rosehaven Homes’ Pre-Construction Manager, Joseph Durante, took to the podium to introduce the six-storey condominium that will comprise two buildings, each with its own set of amenities, including terraces, gyms, party rooms, bike storage and more. Silvio Guglietti, one of the principals of Rosehaven Homes, spoke to the audience about how proud the company felt to bring this new building to the area, and how the structure will refresh the face of Plains Road East even more.

Local Councillor Rick Craven was on hand to celebrate the addition of Affinity to the ever-changing landscape of Aldershot, its spirit revitalized in recent years. As Craven cut the official red ribbon, the crowd cheered and the doors of the sales centre were open to the public for the first time.

Visitors were quickly given a sense of what the community is all about: uniqueness, convenience and style, all on nature’s doorstep.

The presentation centre is one of a kind, with a scale model that shows off how Affinity is not only a community of its own but is wellconnected to its surroundings. Stylish and contemporary, the buildings are stunning. Visitors experienced the fully appointed model suite the Cascade, a one-bedroom plus den floorplan that showcases the standard features such as: polished quartz countertops in the kitchen 22 YPNEXTHOME.CA

MORE TRENDING ONLINE ypnexthome.ca/news

and bathroom, state-of-the-art roller blinds, stainless steel kitchen appliances plus white stackable laundry appliances and wide-plank laminate flooring throughout the living spaces. Affinity suites range from a 567-sq.-ft. onebedroom up to 1,101-sq.-ft. two-bedroom with den layout, giving plenty of options for the diverse crowd that explored the pavilion.

Known for their superior construction quality and unparalleled customer service, Rosehaven Homes has built more than 6000 homes in southern Ontario and the GTA. With Affinity, the company has introduced another midrise condominium to its portfolio, and highrise condominiums are said to be in its future – meaning there will be something for everyone looking for Rosehaven’s style of affordable luxury.

It was a successful day of celebration for Rosehaven Homes and Affinity Condominiums. Be sure to visit the contemporary sales centre located at 348 Plains Rd. East in Burlington. Prices start from the low $300’s.

NOW OPEN

TOUR OUR MODEL SUITE

Affinity, a 6-storey condominium designed with unrivalled quality and attention to detail, is now open!

Be sure to visit our Sales Centre where you can tour our well-appointed model suite, compare floorplans and explore our interactive scale model to find out how your new lifestyle could look.

Speak with our knowledgeble sales team to find the perfect fit for your needs at Affinity.

From the low

Visit AFFINITYCONDO.COM

348 PLAINS ROAD EAST BURLINGTON

QEW

Plains Rd E

King Rd

N

Filmandale Rd

Waterdown Rd

403

300’s

SALES CENTRE

North Shore Blvd E LAKE ONTARIO

Specifications are subject to change. Renderings are artist’s concept.

Map is not to scale. E&O.E.

NOV 19 - DEC 3, 2016 | NEW HOME & CONDO GUIDE SWO 23

A N C A ST E R

26 YPNEXTHOME.CA

discover New Homes

SIMCOE! in

A picturesque and quiet new home community filled with vibrant landscapes, parks, walking trails, shopping and schools right around the corner.

SIGNATURE SERIES FEATURES INCLUDE*

GRANITE COUNTERTOPS CERAMIC TILE HARDWOOD 9’ CEILINGS BRICK

PLUS

RECEIVE

10,000

$

UP TO

IN FREE

DESIGN STUDIO UPGRADES SINGLE DETACHED HOMES FROM

329,400

$

VISIT OUR DECORATED MODEL HOME TODAY! 150 WOODWAY TRAIL, SIMCOE 519-428-1408 eastforesthomes.com Prices correct at press time. Broker protected. *Luxury features apply to Signature Series Homes only. *9 ft ceilings on main floor, *Brick on main floor, *Quality ceramic tile flooring as per plan, *Quality hardwood flooring on main floor as per plan, *Granite Kitchen counter tops (excludes kitchen island) Please see Sales Representative for details. E. & O.E., October 18th 2016

NOV 19 - DEC 3, 2016 | NEW HOME & CONDO GUIDE SWO 27

Property Profile | EASTFOREST HOMES

Life at Woodway Trails – a Simcoe community that puts everything in reach Location

Simcoe Builder

Eastforest Homes Development

Woodway Trails Home Type

Detached, semi-detached with bungalows Sales Centre

150 Woodway Trail, open 2 to 6 p.m. Tuesday and Wednesday, noon to 5 p.m. weekends.

Contact

519.428.1408 eastforesthomes.com

28 YPNEXTHOME.CA

IMAGINE YOUR IDEAL HOME – one where you’ll live, play, work, shop and grow while daily amenities are within reach. This is Woodway Trails, a skillfully planned community in Simcoe complementing the natural beauty of the surrounding area while ensuring you’re close to schools, shopping and everything a wellappointed community has to offer.

Drive along the country roads just beyond Hamilton and the GTA to Woodway Trails, a community where you’ll experience nearby parks and walking trails. As you get closer, you’ll see the variety of homes available – from bungalows that are the perfect fit for empty nesters and downsizers to three- and four-bedroom homes

for growing families.

Moving to Woodway Trails is a move to a better place, a quieter place, a place where space awaits and the Erie shore is not far away. This is lakeside living, family living, singles living – a lifestyle for everyone and anyone – at its finest. With beaches, ports and outdoor recreation only minutes away, Woodway Trails makes country living more accessible, more enjoyable and more affordable.

While resale homes in the GTA are averaging $1 million and pushing up prices in Mississauga, Brampton, Hamilton and other nearby cities, new single-detached homes in Woodway Trails start at just $329,400 and include the features and finishes of

Many homes in Woodway Trails are designed with large backyards, perfect for today’s growing families your choice. As resale homes, their value rises with the economy making it a great investment for the shortand long-term, while still offering affordability beyond what is available in the GTA. Many homes in Woodway Trails are designed with large backyards, perfect for today’s growing families.

Moms appreciate that it’s a safer place for children with minimal traffic and plenty of greenspace for play.

Choose from a diverse collection of bungalows and two-storey detached homes on lots ranging from 40- to 55-ft. wide. Premium priced lots of 45, 55 and 60 ft. – including many walkout lots – back onto greenspace, offering a permanent view of the community’s beautiful surroundings.

The collection of two-storey single-detached homes, including bungalows, range from 1,300 to 2,852

sq. ft. Decorated models of The Ruby bungalow and The Chelsey are open for viewing throughout the week during limited hours and showcase not only what is available, but what is possible at Woodway Trails.

Signature Series exteriors are enhanced with pillars and bricked main floor, while the main floor inside features nine-ft. ceilings and hardwood and ceramic flooring.

Kitchens will have extended height upper cabinets plus granite counters. Carpeting will be offered on the upper level. As an added bonus, purchasers will receive up to $10,000 towards the Design Studio to invest in their choice of quality finishes.

Simcoe is a short drive from the beach and fishing communities of Port Dover, Turkey Point, Long Point

and Port Rowan. Bird watching, hiking, camping and cycling are also popular pursuits that can easily become a way of life at Woodway Trails. The town of Simcoe is a popular spot, acting as the destination for the Olympic torch in 2010, many festivals and Panorama, the famous winter light show along the river. There’s also the nearby Norfolk County Golf and Country Club to practice your swing.

Woodway Trails is a new benchmark in leisure living. You won’t miss the city congestion as you settle in to the slower pace of Woodway Trails while being located just minutes away from every big city amenity you could possibly need.

For more information, call 519.428.1408 or visit eastforesthomes.com NOV 19 - DEC 3, 2016 | NEW HOME & CONDO GUIDE SWO 29

30 YPNEXTHOME.CA

Hot Properties

Find your next home! This page features a few of the latest properties to keep your eye on in Southwestern Ontario. Find more properties at ypnexthome.ca

LATEST LISTINGS

LONDON

Housing type: Single-family homes at Hamilton Road & Commissioners Road East. stonecresthomes.ca

BAYFIELD • BLYTH • CLINTON GRAND BEND • INGERSOLL • LONDON MITCHELL • SEAFORTH • SHAKESPEARE ST.THOMAS • STRATFORD • TAVISTOCK TILLSONBURG • WINGHAM • WOODSTOCK

new openings

pre-registration

CASTLE ROCK PLACE

140 CALEDONIA By: The Tricar Group City: Stratford Housing type: Four-storey boutique style condominiums from the high $200’s. tricar.com

VICTORIA ON THE RIVER By: Stonecrest Homes City: London

HALTON HILLS WELLINGTON WATERLOO ALMA • AYR • CAMBRIDGE • ELORA FERGUS • GEORGETOWN • GUELPH KITCHENER • ROCKWOOD • WATERLOO

pre-registration

By: Rembrandt Homes City: London Location: 3444 Singleton Ave., off Southdale Housing type: Two-storey and mulit-level condominium townhomes from $231,990. rembrandt-homes.ca

new releases HAVELOCK CORNERS By: Senator Homes City: Woodstock Housing type: New release of 42- and 50-ft. singles from the low $400’s senatorhomes.com

BALDWIN PLACE FOX FIELD By: Fusion Homes City: London Location: Fanshawe Park Road West and Foxwood Avenue

By: Tillsonburg Developments City: Tillsonburg Housing type: Single-detached freehold bungalows from $244,500. baldwinplace.ca

WILDFLOWERS

VICTORIA COMMON

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

By: Losani Homes City: Kitchener Housing type: Final release of modern townhomes from the $300’s losanihomes.com

ISHERWOOD AVENUE CONDOS

ROSEMOUNT SEMIS

By: Activa Group City: Cambridge Location: 25 Isherwood Avenue Housing type: Condo community activagroup.ca

CLAIR MEADOWS By: Gatto Homes City: Guelph Housing type: Townhomes and singledetached homes gattohomesinc.com

Housing type: Single-family homes from $482,900 fusionhomes.com

new openings

WESTWOOD MEWS

THE ENCLAVES OF UPPER CANADA

By: CountryGreen Homes City: Kitchener Housing type: Urban townhomes up to 1,365 sq. ft. countrygreenhomes.com

By: Menkes City: Georgetown Housing type: New release of 40-ft. lots from the low $800’s menkes.ca

By: CountryGreen Homes City: Kitchener Housing type: Semi-detached homes in the heart of Kitchener from $349,900 countrygreenhomes.com

CLAIRITY By: Reid’s Heritage Homes City: Guelph Housing type: One- and two-bedroom condominiums from the mid $200’s reidsheritagehomes.com

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

NOV 19 - DEC 3, 2016 | NEW HOME & CONDO GUIDE SWO 31

32

Elmira

ypnexthome.ca Plattsville

Stratford

Baden

Breslau

Acton

STRATFORD, WOODSTOCK, INGERSOLL, TILLSONBURG, ST. THOMAS, STRATHROY, MILTON, GEORGETOWN, ROCKWOOD, GUELPH, FERGUS, ELORA, ALMA, CAMBRIDGE, KITCHENER, WATERLOO, AYR

London / Halton Hills / Wellington / Waterloo:

SEARCH ONLINE Toronto

SITES

PRICES

PAGE

Guelph

REID'S HERITAGE HOMES

Clarity 2

Ilderton

SIFTON

Timberwalk

•

35

Innisfil

BW HOMES

Alcona Shores

•

4

Kitchener

LOSANI HOMES

Victoria Common

Kitchener

MATTAMY HOMES

Topper Woods

London

SIFTON

Evergreen at Warbler Woods

North London

SIFTON

Ballymote Woods

•

South London

SIFTON

Andover Trail

•

South London

SIFTON

Westwood Village

Tillsonburg

TILLSONBURG DEV.

Baldwin Place

•

West London

SIFTON

Riverbend Golf Community

•

West London

SIFTON

Warbler Woods

•

•

BC

•

from mid $300's

•

7

46&47

•

from mid $300's

35

•

from mid $300's

35

•

from mid $300's

35

•

from mid $300's

35

•

from $269,500

34

from $290,000

35

•

35

STRATFORD, WOODSTOCK, INGERSOLL, TILLSONBURG, ST. THOMAS, STRATHROY, MILTON, GEORGETOWN, ROCKWOOD, GUELPH, FERGUS, ELORA, ALMA, CAMBRIDGE, KITCHENER, WATERLOO, AYR

BUILDERS

London / Halton Hills / Wellington / Waterloo:

LOCATION

D et .

Se m Bu i ng a To low w C nh on om Ad do e ul tL ife st yle

ADVERTISER'S MAPPING INDEX

33

IN ASE W H O N LP A N FI

BALDWIN PLAC E T IL LS O N BU R G

HOME

SWEET HOME

But Hurry!

BALDWIN PLACE

We’re proud to announce the FINAL PHASE of Baldwin Place, where everything comes together and everyone feels at home.

Make your choice soon. It’s a decision you will never regret.

All-brick, detached, freehold homes starting at $269,500 (incl.hst) 3 ESSELTINE DRIVE, TILLSONBURG MODEL HOME HOURS: OPEN MONDAY - THURSDAY & SATURDAY 10:AM TO 5:PM. SUNDAY 1:00PM - 5:00PM, CLOSED FRIDAYS & HOLIDAYS E.& O.E. Prices & Specifications are subject to change without notice.

34

Call us now at 1-800-265-5709 baldwinplace.ca

Homes built for life.

Today she’s 8. Tomorrow she’s 18.

Celebrate birthdays, achievements, and everything in between, with a home built by Sifton. From functional floor plans, to solid construction and high-end finishes, Sifton concentrates on craftsmanship, so you can concentrate on life.

Energy Star® Homes. Private Décor Centre.

Building in 8 Great Communities.

519.850.0756 Sifton.com

NOV 19 - DEC 3, 2016 | NEW HOME & CONDO GUIDE SWO 35

Property Profile | SIFTON PROPERTIES

Move in now – to homes built for life –

by Sifton Properties WE ALL HAVE FAVOURITE MEMORIES in life that are created

in our homes. Perhaps you will remember your daughter’s eighth birthday and the astounding number of children that danced through your kitchen. Maybe it’s your family game night around the coffee table each Saturday. Or like many, you cherish those Sunday evening gatherings in your very own spacious dining room. Sifton Properties has built thousands of homes – and is proud to have shared in the creation of those priceless memories for almost a century.

With a range of opportunities now available, we’re quite certain that Sifton has a home designed to suit your lifestyle.

If your growing family needs more living space with a generous sized lot, Sifton offers various options at Andover Trails, Ballymote Woods on Sunningdale, Forest Hill and 36 YPNEXTHOME.CA

Warbler Woods. Enjoy 40- and 50-ft. home sites, proximity to schools, shopping, recreation, nature trails – with some premium lots available.

And for those looking to live a little bigger for less, check out Timberwalk – a unique lifestyle location in Ilderton, just five minutes from Hyde Park. Here, you’ll find executive style one and two-storey homes on 55-ft. lots, near trails and woods, just steps from the fairgrounds which plays host to the Annual Ilderton Fair.

For the distinctive homebuyer

looking to downsize or free up time spent maintaining a property, Sifton has three unique options.

Our newest condominium project, Evergreen at Warbler Woods includes a collection of luxury one-floor home designs. Westwood Village, located within Andover Trails in south London boasts one-floor designs, and is nearing completion – so act fast.

Finally, if you are hoping to spend more time living on the links, visit RiverBend Golf Community, London’s only gated golf community for adults aged 50-plus.

Here, you can choose from luxury one-floor detached bungalows or attached villas, enjoy a pristine 18hole championship golf course, and dining, recreation and social events at the Community Clubhouse.

As the crisp cool air sets in and the year-end approaches, Sifton has a select collection of brand new homes that can be yours by Christmas time!

Ask any one of our sales associates about quick closing homes and enjoy bonus amazing incentives on the home you’ve always dreamed of.

Whether you choose a one-floor

or two-storey design, condominium or villa, you’ll enjoy high-end finishes, quality craftsmanship and our personal attention to every detail. At the front door of every Sifton home, a special brick bears our name and signifies the Sifton promise.

Learn more at sifton.com today!

NOV 19 - DEC 3, 2016 | NEW HOME & CONDO GUIDE SWO 37

Townhomes in Collingwood Maintenance Free Living in Ontario’s Four Season Playground

C

M

Y

CM

FROM

429,900

$

MY

CY

CMY

K

Bungalow and Two-Storey Townhomes include: •

Granite countertops in kitchen & bathrooms

•

Natural gas fireplace with rustic stone mantel

•

9 ft. ceilings on main floor

•

5-piece appliance package with a fridge, stove, dishwasher, washer & dryer

•

Hardwood flooring in great room & dining room

•

Ceramic tile in bathrooms, mudroom, laundry room, kitchen & foyer as per plan

A Division of Reid’s Heritage Group

SALES CENTRE & MODEL HOME 86 Conservation Way, Collingwood, ON 705.446.2685

Onsite Recreation Centre

SALES CENTRE HOURS Thursday - Tuesday 12 - 5 pm Additional appointments available

Call Now! Final Phase Selling Fast!

SilverGlenPreserve.ca 19 DEC 2016 | NEW HOME & E. CONDO GUIDE SWO *Prices and specifications subject to change. All renderings are artist’sNOV concept.

See sales3,consultant for more details. & O.E. November 2016.

39

Trending

Growth in Ontario to exceed national average for third straight year: BMO ONTARIO’S ECONOMY is anticipated to outperform the national average for a third straight year in 2016 as it benefits from U.S. demand, a weaker loonie and a robust housing market, according to the BMO Blue Book from BMO Capital Markets Economics and BMO Commercial Banking.

Much like the U.S. Federal Reserve’s Beige Book, the BMO Blue Book combines the expertise of BMO’s economists with information on current national and provincial business conditions provided to BMO’s commercial bankers by local businesspeople.

“Real GDP is on track to expand 2.6 per cent this year, and a still-solid 2.3 per cent in 2017. Firm U.S. demand, a weaker currency, low oil prices and a strong housing market are all at work,” says Robert Kavcic, senior economist, BMO Capital Markets.

Exports and manufacturing have been supported by the macroeconomic backdrop. “Real exports have risen above previous record levels seen before the recession in 2007, and the real trade balance is steadily improving, adding to economic growth.

However, longer-term issues remain as relatively high labour costs continue to pose challenges for the auto sector versus Mexico and the Southern U.S.,” says Kavcic.

“Indeed, while manufacturing has rebounded strongly earlier in the recovery, growth has softened in the past two years as firms have filled up production capacity, but have been shy to deploy new capital investment and hiring.”

Meanwhile, Ontario’s labour market is thriving, with employment up one per cent year-over-year through August. “The jobless rate is now trending below the national rate for the first time since 2006,” he says.

The housing market continues 40 YPNEXTHOME.CA

to perform well – particularly in Toronto, where resale prices are above average ranges and condo and townhouse demand is growing.

The provincial budget deficit is set to decline by $1.4 billion in fiscal year 2016-17, marking a third straight year of reduction and weighing in at a manageable 0.7 per cent of GDP. “The Province continues to target (fiscal year 2016-17) for a balanced budget,” Kavcic says.

Southwestern Ontario “Southwestern Ontario businesses continue to expand, with a number of encouraging prospects on the horizon,” says Julie Barker-Merz, senior vice-president, southwestern Ontario division. “While there’s still uncertainty given commodity prices, the strength of economic growth and the impact of the U.S. election, our commercial customers continue to show cautious optimism.”

The high-tech industry continues to accelerate in the KitchenerWaterloo-Cambridge-London area and venture capital is on the rise.

In agriculture – a key component of the regional economy – David Blyth, regional vice-president, commercial banking, southwestern Ontario, sees a recess in capital spending and a trend toward diversifying and mitigating risk.

The Greater Toronto Area “The Greater Toronto Area is large, diverse and a significant driver of both the provincial and national economies,” says Steve Murphy, senior vice-president, GTA division.

“With renewed economic strength visible in Ontario – particularly in the area of infrastructure from a number of both new and traditional commercial enterprises – there’s a lot of excitement in the GTA’s business community.”

Murphy adds BMO is here to help with a highly-skilled team of experts that can make lending decisions at the local level to help its commercial clients boost productivity, expand into new markets and make strategic investment decisions that will help propel growth and drive success.

NOVEMBER 2016

Model Home Photo Compliments of Senator Homes | www.senatorhomes.com

Senator Homes is known for creating spectacular family homes at some of Southern Ontario’s most loved locations. You can see this superior level of quality for yourself when you tour the 4 designer decorated model homes at Havelock Corners in Woodstock.

Senator Homes has been featured as “Model HOME Of The Month” as seen in the New Home & Condo Guide model home calendar

Advice | FUNDAMENTALLY SPEAKING

What the new mortgage rules could mean for you

By Wayne Karl

MORE ADVICE ONLINE ypnexthome.ca/news/advice

IF YOU’RE LOOKING TO BUY your first

home, listen up: the new mortgage rules that took effect in October will likely make it more difficult for you to get into the housing market.

Here we go again The federal government has changed mortgage eligibility rules five times between 2008 and 2015. This latest round was intended to stabilize “overheated” housing markets, mostly in Toronto and Vancouver, slow home price growth and keep mortgage indebtedness under control.

All good things.

What the changes also do, though, is make it more difficult for young Canadians to take that important first homebuying step.

As of Oct. 17, homebuyers who apply for a high-ratio mortgage (meaning, they have less than 20 per cent as a down payment) now have to undergo a mortgage “stress test” by qualifying at a rate they don’t even actually have to pay.

Yes, you read that right.

This stress test is intended to assure lenders that you, Mr. and Ms. Homebuyer, could still afford the mortgage if interest rates rise.

For example, says Alyssa Furtado, founder and CEO of ratehub.ca, a website that compares mortgage rates across Canada, the best mortgage rate in Ontario at time of writing was 2.29 per cent. However, the Bank of Canada’s qualifying rate for applicants is 4.64 per cent.

42 YPNEXTHOME.CA

What does this mean?

For example, a couple with a combined income of $100,000 has saved $40,000 for a down payment and they qualify for a mortgage rate of 2.29 per cent. We’ll assume their monthly property taxes will be $400, and their heating costs $150 a month.

Using RateHub’s mortgage affordability calculator, they’ll be able to afford a property costing up to $521,041 because of the new mortgage rules.

“Under the old rules, however, they would have been able to spend $635,700,” she says.

Cha-ching: a difference of $114,659.

On average, according to Calgary mortgage broker Jason Eldridge, by having to qualify for mortgage financing using the five-year Canadian benchmark rate, the maximum purchase price will drop by approximately 21 per cent, given existing five-year contract rates.

Now imagine the situation in Alberta, where the economy has already been hammered by the prolonged oil and gas slump. If you were looking to buy a home there, your buying power will now take a 20-per-cent hit – on top of the economic uncertainty you may be

feeling. Those in Alberta looking to sell a home, meanwhile, will now be trying to sell to many whose homebuying power has just been reduced.

Hello, double-whammy.

There were other rule changes announced last month that come into effect on Nov. 30. For those looking to restructure or refinance an existing mortgage or purchase a property with at least a 20-per-cent down payment, similar qualifying rules will apply in many cases. Lenders who use portfolio insurance and other discretionary low loan-to-value ratio mortgage insurance will now have to meet the eligibility criteria that previously only applied to high-ratio insured mortgages.

The bottom line The rule changes will make it harder for some first-time buyers to get into the housing market. And they may also face higher mortgage rates.

Wayne Karl is an award-winning writer and editor with experience in real estate and business. In Fundamentally Speaking, Wayne explores the basics – such as economic fundamentals – you need to examine when buying property. He can be reached at wayne.karl@ypnexthome.ca or follow him on Twitter at Twitter.com/ WayneKarl

Homebuyers’ Help

Compare mortgage rates for your best deal CHARTERED BANKS ATB Financial Alterna Bank Bank of Montreal Bank of Nova Scotia

variable 2.5 4.10op 2.45 6.30op 2.7 2.9

Canadian Western Bank CIBC

6 months

1 year

2 years

3 years

4 years

5 years

4.1 4.10op 4 6.30op

3.04 4.10op 2.79

2.39

2.54

2.59

2.59

2.69

2.49

2.69

2.48

3.09 6.95op 3.29 6.50op 3.14 6.30op 2.84 6.35op 3.14 3.14 6.35op 2.84 3 3.20op 3.14

3.19

3.59

4.09

2.59

3.09

3.39

3.89

4.49

3.04

3.65

4.2

4.74

2.79

2.44

4.09

4.79

3.04 2.45

3.65 3.39

4.39 4.09

4.64 2.65

2.84 2.94

2.84 2.84

2.89 2.79

2.89 2.89

3.04

3.39

2.64

2.74

2.79 2.34

3.34 2.44

3.99 4.39

4.44 4.64

3.04 4.00op 3.19

2.84

3.44

2.39

2.59

3.24

3.49

3.69

3.79

3.14 3.35

3.25 3.5

3.95 3.7

4.39 4.3

4.64 4.35

2.69 3.14 6.30op 3.29 6.50op

2.14 3.09

2.34 3.39

2.59 3.89

2.49 2.45

3.09

3.39

3.89

4.49

2.79

2.69

2.49

2.69

2.48

2.84 6.30op 2.29 2.89

2.89

2.95

2.99

2.89

2.24 2.79

2.39 2.89

2.49 2.95

2.59 2.89

3.14

3.09

3.39

3.89

4.64

3.25 6.25op 2.84 6.30op 2.99 6.30op 2.8 2.95op 2.39

3.2

3.65

4

4.5

2.79

2.64

3.89

2.44

2.69

3.49

3.99

4.54

2.85

2.95

3.05

3.15

2.39

2.39

2.49

2.49

6.95op 4.55 6.45op 4 6.45op

2.7 6.95op

Equitable Bank HSBC Bank Canada

2.65

ICICI Bank Canada Manulife Bank

2.75 2.6

National Bank President’s Choice Finan Royal Bank TD Canada Trust Tangerine

n/a 6.70op 2.7 2.6 6.75op 2.6

4.45 6.20op 4.45 4.4 6.70op

3.14 6.75op

2.7

TRUST COMPANIES Community Trust Effort Trust Home Trust Investors Group Trust MTCC

n/a n/a 6.30op 2.25 n/a 2.9

6.5 4.45 6.30op 3.95 4.2 6.50op 4.55 6.45op

OTHER FINANCIAL INSTITUTIONS Alterna Savings Comtech Fire C.U. First National Fin. LP IC Savings London Life Luminus Financial Meridian Credit Union

2.45 6.30op 2.45

2.7 6.50op n/a 6.50op 3.25 2.4

PACE Savings & C.U.

4 6.30op 6.2 6.40op 3.1 4.25 6.50op 4.2 6.30op

4 5 6.70op

Parama Credit Union

2.65

Steinbach Credit Union

2.25

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

R.O.R. = RATES ON REQUEST op = OPEN ----- = NOT QUOTING N/A = NOT AVAILABLE November 7, 2016. Prepared By http://www.FiscalAgents.com/mortgage/rates

NOV 19 - DEC 3, 2016 | NEW HOME & CONDO GUIDE SWO 43

Ad Index

ADVERTISERS

Bayview Wellington - Alcona

4

Mountainview Homes - Elements

Bayview Wellington - Passages on the Canal

5

Phelps Homes - Merritton Commons

30

Reid’s Heritage Homes - Clairity

BC

Branthaven Homes - Life

24 & 25

9

Carriage Gate Homes - Legacy Ancaster

26

Reid’s Heritage Homes - Silver Glen

Eastforest Homes - Woodway Trails

27

Rosehaven Homes - Affinity Condominiums

23

Sifton - Corporate

35

Starward Homes - Scenic Trails

19

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Visit our website: NOV 19 - DEC 3, 2016 | NEW HOME & CONDO GUIDE SWO 45

DETAILS LIVE EVERYWHERE IN A MATTAMY HOME

No matter your space, from a Condo Suite to a Grand Executive Home, our architects ensure your Mattamy home works efficiently and elegantly.

Designed for real people to live modern, energetic lives, you’ll find our attention to detail anywhere you look. From short hallways that reduce wasted space, to Chef’s Kitchens with work triangles that help you create like a master, to floor plans that encourage a comfortable flow of traffic.

Every inch, every square foot is thoughtfully designed to make a place you’ll love to call home.

Thoughtful Design Helps Make Us Canada’s Largest Home Builder.

The Oriole Corner Model Home in The Preserve, Oakville

COMING SOON – MORE BEAUTIFULLY DETAILED HOMES

THE

PRESERVE OAKVILLE

KITCHENER

OAKVILLE

Our established Kitchener community will soon offer a range of 2-Storey Townhomes & Detached Designs.

Oakville’s most desirable address will soon release a variety of Detached Homes.

FOR MORE INFORMATION REGISTER AT MATTAMYHOMES.COM

CONDOS IN GUELPH COMING SOON!

REGISTER TODAY FOR VIP ACCESS & PREFERRED PRICING

10 min from The University of Guelph

•

10 min from Hwy 401

And only 2 min away from banks, restaurants, health services and grocery stores.

ReidsHeritageHomes.com *All renderings are artist’s concept. Specifications subject to change. See sales consultant for more details. E. & O.E. November 2016.