BC New Home and Condo Guide - Dec 8, 2017

DEC 8, 2017 – JAN 5, 2018 | nexthome.ca

METRO VANCOUVER EDITION

Connecting Canadians to new HOMES & CONDOS for more than 25 years

2018 GEORGIE AWARDS FINALIST See page 16 for details

INSIDE:

TOP 17 NEWS STORIES OF 2017

SHOULD YOU TRY TO PAY OFF YOUR MORTGAGE EARLY?

WHERE LIFE P L AYS OUT ON THE GREEN

R E G I S T E R T O D AY

A COLLECTION OF 55 TOWNHOMES AT G U I L D F O R D GOLF COURSE The Links is one of those once-in-a-lifetime locations. Set amid native landscape and adjacent to Guildford Golf & Country Club, these 55 distinguished townhomes are a dream come true.

7979 152ND STREET SURREY BC T H E L I N K S AT G U I L D F O R D . C O M

This is not an offering for sale. An offering for sale can only be made with a disclosure statement. E.&O.E.

.

DEC 8, 2017 – JAN 5, 2018 | VOLUME 2 ISSUE 25

CONTENTS

16

ON THE COVER:

MIRACON LEADING BY EXAMPLE

10 NextHome.ca

VICE PRESIDENT & CHIEF PUBLISHING OFFICER

Caroline Andrews PUBLISHER & GENERAL MANAGER

Shawn Woodford DIRECTOR OF CONTENT & EDITOR-IN-CHIEF

Jennifer Reynolds DIRECTOR, MULTIMEDIA SOLUTIONS

Nora Wallace MANAGING EDITOR

Wayne Karl EDITOR

Sonia Bell

46

ACTING ART DIRECTOR

Miguel Cea CONTRIBUTING EDITORS

Elisa Krovblit Keay Marlene Eisner CONTRIBUTING WRITER

Susan M Boyce

PROPERTY PROFILE

42 PCI Developments

Team approach to exceptional development

TRENDING

34 Housing News

NEIGHBOURHOOD PROFILE

20 Grandview Heights INSPIRATION

54 Be Our Guest

Creating a wow-factor tablescape

The lag effect: Long approvals process impacts the market

44 Vancouver Economy The west is best: BC to lead economic growth in 2018

46 City Guide

Five magical places to see Christmas lights

58 Top List

IN EVERY ISSUE

12 18 22 64

Editor’s Note

32

Vancouver, Downtown Vancouver

38

North Shore, Squamish

52 Legal Matters

40

Surrey, Langley, Abbotsford & Mission

BY OSCAR MIKLOS

50

Coquitlam, Port Coquitlam, Pitt Meadows & Maple Ridge

56

Burnaby, New Westminster

62 Condo Sense

Another wild year: Recapping 2017

BY CAMERON MCNEILL

Dwayne Rutherford NATIONAL CIRCULATION MANAGER

John Jenkins PRODUCTION MANAGER

GRAPHIC DESIGNER

PRODUCTION CO-ORDINATOR

Published by

BY ALYSSA FURTADO

Top five bylaws to watch out for when buying a condo

SENIOR MANAGER, DISTRIBUTION

Hannah Yarkony

Richmond, North Delta & Tsawwassen

BY BOB DE WIT

Ranee Pal

Listings Directory

26

Maintaining your home after moving in

SALES COORDINATOR

Miguel Cea

South Surrey, White Rock

36 GVHBA Report

Dave Bird 604.319.7102 Ricardo Hernandez 604.319.7103

What’s Online

14

Should you try to pay off your mortgage early?

MEDIA CONSULTANTS

Anthony Majetic

DISTRICT MAPS

24 Mortgage Intel

Jared Holland 403.462.7781

Hot Properties

Top 17 news stories of 2017

ADVICE

SALES MANAGER, MULTIMEDIA SOLUTIONS

A brand of Yellow Pages Homes Ltd.

2025 Willingdon Ave., 4th floor Burnaby, BC, V5C 0J3 T 604.519.6080 F 604.519.6088 nexthome.ca Advertising Call 604.519.6080 for rates and information.

Circulation Highly targeted, free distribution system aimed at real estate buyers using street level boxes and racking, plus door-to-door insertions in key audience segments. Call 1-855-826-4200 to discuss distribution opportunities.

Copyright 2017 Copyright covers the contents of this publication and prevents reproduction in whole or in part; offenders will be prosecuted. We reserve the right to refuse any advertising, to make changes or edit advertising as necessary. Care will be taken to ensure copy accuracy but no warranty is implied or given by the publisher. The publication, the publisher and the printers shall not be responsible for any typographical errors, mistakes, misprints, spot colouring or any information or lack of information furnished by the advertisers. Yellow Pages NextHome is a trademark of Yellow Pages Group Co. in Canada.

Editorial Editorial submissions from interested parties will be considered. Please submit to the editor by email to Sonia.Bell@nexthome.ca. The views and data expressed by columnists do not necessarily represent those of the publication

DEC 8, 2017 - JAN 5, 2018 11

EDITOR’S NOTE

LOOKING AHEAD TO 2018 AND BEYOND

SONIA BELL

As the year comes to an end, what better time is there to re-evaluate, look ahead and plan for the future?

And just as the world has been reflecting on 2017 and making ambitious New Year’s resolutions, the Federal government has also been busy reassessing its current policies and making bold plans for our first National Housing Strategy.

After more than a year of in-depth consultation with government bodies, real estate experts, think tanks and more, the much-anticipated National Housing Strategy has finally come to fruition.

The 10-year, $40-billion plan aims to reduce homelessness and improve the availability and quality of housing for Canadians in need by tackling issues ranging from shelters and community housing, to affordable rental housing and homeownership. The strategy has outlined some impressive end-goals, including reducing chronic homelessness by 50 per cent and removing more than 530,000 households from housing need.

The National Housing Strategy is one more thing to look forward to in the coming years, and we’re eager to see how it plays out in 2018 and beyond.

EDITOR NextHome EMAIL: Sonia.Bell@nexthome.ca TWITTER: @soniabellyp

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ONLINE: 2017 was a pivotal year in Canadian real estate. In true New Year’s fashion, we count down 17 of the most newsworthy real estate events nexthome.ca/2017-stories

+ get social 12 NextHome.ca

Interact with us on social media: nexthome

PRICES REDUCED ON FINAL HOMES! Move in before the holidays! 4 bedroom, 2.5 bath 1,959 SF finished townhomes with up to 400 SF of private outdoor space.

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This is not an offering for sale.

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1 48 St

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NEW CONDOS

1. BEACHBOROUGH

7. SOHO

13. EDGEWOOD GATE

14022 North Bluff Road beachborough.ca

Presentation Centre 2280 - 163 St. 604-560-0272

166th St. & 21 Ave. foxridgehomesbc.com

8. ORCHARD GROVE

168th Street & 18th Avenue foxridgehomesbc.com

2. FANTOM 14825 Thrift Ave. 604-538-8028

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16488 64Ave 604-576-7722

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6. GRANDVIEW AT SOUTHRIDGE CLUB

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Thrift Ave. & Johnston Rd. semiahbymarcon.ca

4. SOUTH POINT WALK

15828 Mountainview Dr 604-582-1113

14 NextHome.ca | South Surrey / White Rock

16488 22nd Ave 604-372-3683

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NEW HOMES

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SOUTH SURREY - WHITE ROCK

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HOT PROPERTIES Lyo nR

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50 50 50 50 PREMIUM

PREMIUM PREMIUM PREMIUM PREMIUM SINGLE SINGLE SINGLE SINGLE SINGLE FAMILY HOMES FAMILY HOMES FAMILY HOMES FAMILY FAMILY HOMES HOMES IN SOUTH SOUTH IN SOUTH IN IN IN SOUTH SOUTH SURREY’S SURREY’S SURREY’S SURREY’S SURREY’S MOST MOST MOST MOST MOST DESIRABLE DESIRABLE DESIRABLE DESIRABLE DESIRABLE COMMUNITY COMMUNITY COMMUNITY COMMUNITY COMMUNITY

WHY SOUTH SIDE ? ???

WHY SOUTH SIDE WHY SOUTH SIDE WHY SOUTH SIDE

Ranging in size from 2,400 to 3,600 sq ft, eachhome SOUTHSIDE home has been carefully Ranging in from 2,400 to 3,600 sq ft, each has been carefully RangingRanging in size size Ranging from in size 2,400 infrom size tofrom 2,400 3,6002,400 to sq3,600 ft,to each 3,600 sq SOUTHSIDE SOUTHSIDE ft, sq each ft, each SOUTHSIDE home SOUTHSIDE has home been home has carefully been has been carefully carefully constructed to maximize light, functionality and comfort comfort across three floors. constructed constructed to constructed maximize to maximize light, to maximize functionality light, light, functionality functionality and and comfort across and comfort three across floors. across three three floors. floors.

Ranging in size from 2,400 to 3,600 sq ft, each SOUTHSIDE home has been carefully

constructed to maximize light, functionality andopportunities comfort three floors.

LOCATION, LOCATION, LOCATION. Close to amazingacross opportunities for dining, Close LOCATION, LOCATION, LOCATION. to amazing for dining,

LOCATION, LOCATION, LOCATION, LOCATION, LOCATION, LOCATION. LOCATION, LOCATION. Close LOCATION. to Close amazing Close to amazing opportunities to amazing opportunities opportunities for dining, for dining, for dining, shopping and recreation. shopping and recreation. shopping shopping andshopping recreation. and recreation. and recreation.

LOCATION, LOCATION, LOCATION. Close to amazing opportunities for dining, QUALITY CRAFTSMANSHIP. Standard features include: QUALITY Standard features include: CRAFTSMANSHIP. shopping and recreation.

QUALITYQUALITY CRAFTSMANSHIP. QUALITY CRAFTSMANSHIP. CRAFTSMANSHIP. Standard Standard features Standard features include: features include: include: •• 10 on Main floor and 9 Ceilings in Basement 10 ft ft Ceilings Ceilings • 10 ft• Ceilings 10 on ftthe the Ceilings Main on the floor onMain the and Main floor 9 ft ft floor and Ceilings 9and ft Ceilings in9 the the ft Ceilings Basement in theinBasement the Basement

QUALITY CRAFTSMANSHIP. Standard features include: • Gourmet Kitchens featuring walk-in pantry and ample storage •• Gourmet Kitchens featuring walk-in pantry and ample Gourmet • Gourmet Kitchens • Gourmet Kitchens featuring Kitchens featuring walk-in featuring pantry walk-in walk-in and pantry ample pantry andstorage storage ample and ample storage storage • Forced Air Heating • Forced Air Heating

Forced •Air Forced Heating • Forced Airthe Heating AirMain Heating • ••10 ft Ceilings on floor and ft Ceilings in the Basement • Gas Range, BBQ Outlet and9 Fireplace Gas BBQ and Fireplace Gas Range, Range, • Gas BBQ •Range, GasOutlet Outlet Range, BBQ and Outlet BBQ Fireplace Outlet and Fireplace and Fireplace • ••Gourmet Kitchens featuring • 6 Built-in Speakerswalk-in pantry and ample storage 6 Built-in Speakers • 6 Built-in • 6 Speakers Built-in • 6 Built-in Speakers Speakers • ••Forced Air Heating • Wide PlankHardwood Engineered Hardwoodthe throughout the Main Floor Engineered throughout Main Floor Wide Plank Plank Wide • Wide Engineered • Wide PlankPlank Engineered Hardwood Engineered Hardwood throughout Hardwood throughout the throughout Mainthe Floor Main the Main FloorFloor • Gas Range, BBQ Outlet and Fireplace Prices start from $1,198,000 including GST start from $1,198,000 including GST Prices $1,180,000 • Prices 6 Built-in Speakers start Prices from Prices start $1,180,000 start from from $1,180,000 including $1,180,000 including GSTincluding GST GST • Wide Plank Engineered Hardwood throughout the Main Floor Winner: 2017 Grand Ovation Award – Single Grand Ovation Award –– Single Winner: 2017 Winner: 2017 Winner: Grand Winner: 2017 Ovation Grand 2017 Grand Award Ovation Ovation Single AwardAward – Single – Single

Family Builder of theGST Year of the Family Builder Prices startFamily fromBuilder $1,180,000 including FamilyFamily ofBuilder the Year Year Builder of theof Year the Year

Winner:Award 2017 Ovation Award - Best Single Family Ovation -- Best Single Family Winner: 2017 Winner: 2017 Winner: Ovation Winner: 2017Award Ovation 2017 Ovation Best Award Single Award - Best Family -Single Best Single FamilyFamily Home Less than 2,400 sq. ft than 2,400 sq. ft Home Less Home Less Home thanHome Less 2,400 than Less sq. 2,400 ft than 2,400 sq. ft sq. ft

Winner: 2017 Grand Ovation Award – Single Family Builder of the Year

Winner: 2017 Ovation Award - Best Single Family Home Less than 2,400 sq. ft

NOW SELLING NOW SELLING NOW NOW SELLING NOW SELLING SELLING

Marketed by: by: MarketedMarketed Marketed by: Marketed by: by:

ND ND AVE, SURREY AVE,22 SURREY 16480 2216480

SHOWHOME AND SHOWHOME NOW AND SHOWHOME SHOWHOME SHOWHOME NOW OPEN OPEN NOW NOW OPEN OPEN PRESENTATION CENTRE PRESENTATION CENTRE DAILY noon to 5:00pm DAILY DAILY noon DAILY to noon 5:00pm noon to 5:00pm to 5:00pm NOW OPEN NOW OPEN (EXCEPT FRIDAYS) (EXCEPT (EXCEPT FRIDAYS) (EXCEPT FRIDAYS) FRIDAYS) OPEN SHOWHOME DAILY noon toNOW 5:00pm DAILY noon to 5:00pm DAILY noon to 5:00pm (EXCEPT FRIDAYS) (EXCEPT FRIDAYS)

(EXCEPT FRIDAYS)

HOLIDAY HOURS: CLOSING DECEMBER 17 REOPENING JANUARY 6 Developed/Built by: by: Developed/Built Developed/Built Developed/Built by: Developed/Built by: by:

miracon.ca/southside miracon.ca/southside miracon.ca/southside miracon.ca/southside miracon.ca/southside 604.372.3638 604.372.3638 604.372.3638 604.372.3638 604.372.3638

NOW SELLING

miracon.ca/southside 604.372.3638

Marketed by:

Developed/Built by:

COVER STORY

Southside’s kitchen

MIRACON LEADING BY EXAMPLE Miracon’s business philosophy is a straightforward one: work together to build real homes for real people. They’re production builders who think like custom builders and are committed to creating quality homes in neighbourhoods throughout Surrey and Langley. Over the years, Miracon has developed a strong reputation of quality construction and outstanding customer service.

“We spend many, many hours ensuring our homes aren’t just beautiful, they’re functional as well,” says Jas Rai, Miracon’s in-house designer. Many of the details, she adds, are practical elements homeowners don’t fully appreciate until they realize how well these homes live – features such as lighting fixtures and pot lights that are perfectly positioned to provide sufficient light for the task at hand 16 NextHome.ca | South Surrey / White Rock

and master suites that include dual closets and framelessglass showers with deluxe shower bar, body sprays and multi-function showerhead. Plus, there’s storage everywhere it can possibly fit.

AWARD-WINNING QUALITY

With deep roots in the neighbourhood, Miracon’s list of accolades is a long one. Most recently, the company was named 2017’s Single-Family Builder of the Year by the Greater Vancouver Home Builders’ Association and is now a finalist in four categories – including Single-Family Home Builder of the Year – in the 2018 provincial Georgie Awards.

“We utilize a building envelope engineer who inspects every home, and we’re very hands-on about quality

Prima’s exterior

Westside’s exterior

Southside’s greatroom

control throughout construction,” Rai says. “Within a few days, our site supervisors know most homeowners by name – it creates a deeper level of trust and appreciation that resonates with savvy homebuyers of every generation.”

COMMUNITY SPIRIT

Already active within the residential building community as mentors and industry advocates, the Miracon team believes in giving back to the communities where they build. “We focus on children, hospitals and youth-related sports,” Rai says, which include Langley Memorial Hospital, Children’s Hospital, Nightshift Ministries and Boxing BC, to name a few. The management team not only commits financially, but also encourages their employees, subtrades and suppliers to volunteer time to community causes.

CREATING SOUTH SURREY NEIGHBOURHOODS

Miracon’s four most current projects are all located in South Surrey’s dynamic Grandview neighbourhood. Prima’s 28 townhomes and the 53 single-family residences that comprised Westside sold out rapidly, wowing buyers with sophisticated finishings and thoughtful, intelligent design.

Southside, a collection of 50 single-family homes featuring open-concept floorplans that are perfect for today’s busy lifestyles, is now selling to great acclaim.

Standard features that are sure to please include gas ranges, quartz counters, engineered hardwood flooring and barbecue outlets on the back patio. There’s also the elegance of coffered ceiling details on the main floor and the convenience of built-in speakers. There’s even a USB outlet conveniently located on the island – because in today’s wired world, you really don’t want to run out of “juice.”

And here’s more good news: Southcrest, Miracon’s newest community of 30 single-family homes, will be opening the brand new showhome in early 2018. “After selling out of a small trailer for the past few months, it’s going to be great for people to be able to experience these homes for themselves,” Rai says. “In this day and age, there aren’t many opportunities to own a brand new single-family home, so it’s no wonder people can’t wait to see this new offering.”

For more information about Miracon as well as their current offerings and past successes, visit miracon.com.

DEC 8, 2017 - JAN 5, 2018 17

HOT PROPERTIES

FIND YOUR NEXT HOME This page features a few of the latest properties to keep your eye on in the Metro Vancouver area.

PREVIEWS & REGISTRATIONS

HORSESHOE BAY

8888 OSLER Home type: Condominiums Developer: Tria Homes On the map: Marpole Web: 8888osler.com Info: 8888 Osler is coming soon to Marpole, consisting of 76 homes. Register now to experience the new generation of the westside.

PIER WEST Home type: Condominiums Developer: Bosa Development On the map: New Westminster Web: pierwestbybosa.com Info: Pier West is a landmark project, offering vibrant design and refined living to New Westminster’s waterfront. The development includes two residential towers, including the tallest building on Metro Vancouver’s waterfront.

The development features 649 units.

Register now.

STARLING AT LUMINA BRENTWOOD Home type: Condominiums Developer: Thind Properties On the map: Burnaby Web: luminabrentwood.com Info: Starling at Lumina Brentwood is where modern living meets mother nature.

Located near scenic trails, beside Burnaby’s impressive new 13-acre park, and minutes away from the SkyTrain, world-class shopping and eclectic eateries.

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HORSESHOE BAY Home type: Condominiums and Townhomes Developer: Westbank On the map: West Vancouver Web: westbankcorp.com Info: Horseshoe Bay is located in West Vancouver’s most beautiful block of waterfront land, offering panoramic views of Horseshoe Bay and beyond. The development will embrace the locals-first policy, meaning Vancouver residents will get the first opportunity to purchase units.

WESTBURY Home type: Townhome Developer: Gryphon On the map: Vancouver Web: gryphonliving.com/westbury Info: Located in the heart of Vancouver’s

prestigious West Side, Westbury offers the opportunity to live in one of Vancouver’s finest neighbourhoods. Westbury is surrounded by tree-lined streets and located near many local shops and restaurants.

PARK HILL Home type: Townhomes and Condominiums Developer: Forewest Construction On the map: Langley Web: liveatparkhill.ca Info: Park Hill is a new community coming soon to Langley’s Willoughby neighbourhood.

This boutique collection of two- and threebedroom townhomes and contemporary one-, two- and three-bedroom condos is located in a quiet residential area nestled against 1,200 acres of lush parkland and community trails.

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

18 NextHome.ca | South Surrey / White Rock

NEIGHBOURHOOD PROFILE

GRANDVIEW HEIGHTS

by DIANE DUFLOT

+

Grandview Heights is bound by 184th Street to Hwy. 99, and 16th to 28th avenues. Some neighbourhoods considered to be part of Grandview Heights extend past those borders, however (such as Rosemary Heights and North Grandview Heights). Due to a recent boom in development (beginning in 2008), its boundaries appear to be moving and encroaching on Sunnyside. Originally, this was a logging region, which remained sparsely populated for a number of years.

LIFESTYLE

Change is in the air in Grandview 20 NextHome.ca | South Surrey / White Rock

Heights. The neighbourhood has seen a lot of growth in recent years, and it seems there will be more to come.

Grandview Heights first attracted settlers affiliated with logging. But, what was once mostly farmland, is quickly turning into new homes and condos, and places for residents to work, shop and play.

MEET THE NEIGHBOURS

The City of Surrey’s extensive plans to bring a mix of residential densities to this area will likely continue to attract a diverse population. For example, the increased walkability promised by plans should appeal to the young and

old alike, and news schools, parks and community facilities should bring an increased number of growing families to this neighbourhood.

REAL ESTATE

With the amount of people moving to South Surrey and the gentrification accompanying the population increase, the prices are going up steadily here. Add to this that Grandview Heights is one of the more upscale neighbourhoods in Surrey, and you may find it’s not cheap to buy here, especially if your looking at single-detached homes. The mix of residential densities being built

HOT SPOTS

MEMPHIS BLUES BBQ HOUSE

The Grandview Heights location of this chain has a little patio out front from which to watch the world go by on a sunny day.

The ribs are finger-licking good.

around the area, however, offer more affordable options, making this area more accessible.

To buy a three-bedroom property:

$649K — $800K *based on current listings

+

STREET CORNER

IN THE AREA

The City of Surrey’s General Land Use Plan lays out a broad range of policies referring to the type and location of commercial developments, civic facilities and public open spaces to be provided in Grandview Heights. When all is complete, there should be a good mix of greenspace and civic activities for South Surrey’s growing population to enjoy.

“We love it here; it’s quiet, it’s safe and we’ve developed great relationships with our neighbours.”

– ALLIE, STAY-AT-HOME MOM

“I’ve been here for years, and have witnessed all the changes and new development. It’s getting busier, but i still love it just the same.”

THE SHOPS AT MORGAN CROSSING

There’s a lot of great shopping at Morgan Crossing, for kids and adults alike. Prepare to spend hours at this vibrant outdoor shopping mall.

CUPCAKES IN SOUTH SURREY

Bring your sweet tooth to Cupcakes in Grandview Corners. They’re almost too pretty to eat. Almost, but not quite!

– CHRIS, SALES MANAGER

“Public transit could be better, but other than that, I love the area. I don’t intend on leaving any time soon!”

- ADAM, WEB DEVELOPER

+DID YOU KNOW?

Grandview Heights’ population has grown considerably over the past two decades and is projected to increase by another 50,000 people over the next 30 years.

DEC 8, 2017 - JAN 5, 2018 21

WHAT’S ONLINE

TRENDING NOW THE LATEST REAL ESTATE NEWS FROM ACROSS CANADA

WHAT RENTERS WANT… AND WHAT REALLY PAYS OFF

10 TIPS FOR A HOLIDAY WITHOUT HASSLE

nexthome.ca/what-renters-want

nexthome.ca/holiday-without-hassle

HOW TO IMPROVE THE ODDS OF GETTING A MORTGAGE

TOWNHOME OR CONDO: WHAT DO YOU CHOOSE?

nexthome.ca/getting-a-mortgage

nexthome.ca/condo-or-townhome

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NOW SELLING!

GET CONNECTED IN SOUTH SURREY

NEW SHOW HOME NOW OPEN

35 TOWNHOMES Be one of the first to experience these Modern Farmhouse inspired homes, equipped with automation technology.

Open daily 12 – 5pm (closed Fridays) 3 & 4 Bedrooms Priced from the mid $500’s

TURNONLIFE.CA 604.581 .8080 only, exclusive of taxes and are subject to change without prior notice. E. & O.E.

Sutton West Coast Realty

HUNTER PARK

ADVICE | MORTGAGE INTEL

SHOULD YOU TRY TO PAY OFF

YOUR MORTGAGE EARLY? ALYSSA FURTADO

Paying off your mortgage ahead of schedule has traditionally been a part of a healthy financial plan. Until the last 10 years or so, you could expect to pay between five and six per cent (or higher) interest on your mortgage, which made quickly paying off your mortgage a no-brainer.

But with mortgage rates hovering closer to 2.5 or 3.0 per cent, paying off your mortgage early is no longer necessarily the best option. Instead, investing may be a better option. Let’s look at why.

INVESTING YOUR MONEY

As of early November, the S&P/TSX Composite Index has averaged an annual return of 5.69 per cent over the last five years. This return is higher than current mortgage rates, which means you could potentially see a greater return by investing the money instead of putting it towards your mortgage.

Of course, there are no guarantees when it comes to the stock market.

Markets fluctuate and year-over-year returns are hard to predict. If the idea of fluctuating returns unsettles you, you may be better off with the guaranteed returns of paying off your mortgage ahead of schedule.

PAYING DOWN YOUR MORTGAGE

While investing may be a better option, paying off your mortgage ahead of schedule has its own unique benefits – namely, peace of mind.

24 NextHome.ca | South Surrey / White Rock

Eliminating a mortgage payment frees up tens of thousands of dollars per year in after-tax income that you can use for investing, saving, travel or working less.

Living mortgage-free makes you less dependent on your employer and less vulnerable to job loss. Paying off your mortgage early will save you thousands of dollars in interest that would otherwise be paid out to your lender.

DIVERSIFICATION STRATEGIES

One key error both die-hard investors and die-hard mortgage payoff proponents make is failing to understand the role of diversifying your investments.

The adage “don’t put all of your eggs in one basket” rings true in both scenarios. If you hustle to pay your mortgage off quickly, the result is 100 per cent equity in a piece of land with a home on it. But a paid-off home is illiquid and difficult to tap into if you need a sudden influx of cash.

You could use a home equity line of

credit (HELOC) – but then you’d be back in debt – which is just what you struggled to free yourself from.

THE BOTTOM LINE

At the end of the day, as with everything, balance is key. The best strategy is to use a mortgage affordability calculator to help you choose a home that’s not too expensive, allowing you to put some money away for retirement and give you the option to pay down your mortgage early.

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

+MORE ADVICE ONLINE nexthome.ca/news/advice

LIKE A FOX You're the most elusive creature in the wood. You dreamt, you strived and in time, you persevered.

Here is home, an inspired den for the intelligent, understated, agile and resilient.

25 Prestigious View Residences, White Rock Priced from 1.2 M

604.538.8028 | FORGE.CA/FANTOM

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26 NextHome.ca | Richmond / North Delta / Tsawwassen

be Sussex Ave m

PR

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1875 Tsawwassen Drive 604-943-6677

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4991 No. 5. Road 604-231-0480

12 Ave

10 4

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82 Avec

4 7 Ave

Ladner Trunk Rd

4 7 Ave

16 Ave E

7100 Elmbridge Way www.landaglobal.com/cascade

6. WEMBLEY

PR

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5. CASCADE CITY

SF

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at the Gardens Deltaport Way No 5 Rd. and Steveston Hwy. 28 Ave 604-271-3331 dW

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3. DAHLIA

de n ive Cl 91

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No. 3rd across from Capstan Skytrain 604-285-9983 Rd W

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2. VIEWSTAR

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5111 Hollybridge Way 604-233-2633

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Railway Ave

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RICHMOND D n

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WR49th Ave Ave iEv29th er Rd Moscrop St Va

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W 49th Ave

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W King

PRESENTATION CENTRE 5111 Hollybridge Way, Richmond V7C 0C1

HOLIDAY HOURS: December 23rd to January 2nd by appointment only.

Please contact us at 604.233.2633 to book an appointment.

T H A N K YO U FOR ALL YOUR SUPPORT IN MAKING 2017 A HUGE SUCCESS. NEW TOWERS ARE

90% SOLD OUR WARMEST THOUGHTS AND BEST WISHES FOR A WONDERFUL HOLIDAY SEASON.

www.rivergreen.com 604.233.2633

In a continuing effort to meet the challenge of product improvement, the developer reserves the right to modify or change plans and specifications without notice. Pictures, drawings, digital renderings and landscape plans are for illustrative purposes only and are subject to change. Refer to disclosure statement for specific details. E&OE. This advertisement is not an offering for sale.

Such an offering can only be made with a disclosure statement. E. & O. E.

1, 2, 3 BEDROOM CONDOS

1 BED FROM $ 392,900 2 BEDS FROM $448,900 GST INCLUDED

Coast at Tsawwassen Shores gives you everything you want in a home and a master-planned community. A future town centre, just steps to schools, 2 km of oceanside trails, and of course the incredible shopping at Tsawwassen Mills and Tsawwassen Commons make it one of the best places to live in the Lower Mainland.

COAST

CONDOMINIUMS

13,500 SQ. FT. OF AMENITIES • OUTDOOR BBQ

• GARDEN MAZE

• OUTDOOR LOUNGE

• INDOOR GYM

• GAMES COURT

• CLUBHOUSE

• PLAYGROUND

• PARTY ROOM Tsawwassen Shores

Artistic renderings. The developer reserves the right to make changes and modifications to the information contained herein without prior notice. This is not an offering for sale.

Such an offering can only be made by a disclosure statement. E.&O.E.

7 y1 Hw

Salish Sea Dr

604 943 6677

Dr

Tsawwassens hores .com

Tsawwassen

15% FOREIGN BUYER PTT EXEMPT NOW SELLING

Tsawwassen Mills Mall

4742 BLUE HERON WAY OPEN 12-5 DAILY, EXCEPT FRIDAY

RICHMOND’S MOST ICONIC HOMES

EW AY RIDG

ELMBRIDGE WAY

DAILY FROM 12–5PM, EXCEPT FRIDAY OR BY APPOINTMENT

CASCADECITY.COM | 604 285 7285 Illustrations are for marketing purposes only and may differ from finished product. The developer reserves the right to change or modify the offer, features, specifications and floorplans without prior notice. E&OE.

WESTMINSTER HWY

MINORU BLVD

PRESENTATION CENTRE

LANSDOWNE RD

ERB

RD

BER

ER

ALD

PRESENTATION CENTRE OPEN:

RIV

GIL

PRESENTATION CENTRE & DISPLAY HOME 7100 ELMBRIDGE WAY, RICHMOND

T RD

NOW SELLING

HOT PROPERTIES Low

99

l Rd

Leve

in S t

VANCOUVER - DOWNTOWN VANCOUVER McGill St

Boundary Rd

Rupert St

Rupert St

Clark Dr

Tyne S t

St Ea rle s

Kerr St

tt S t

Fraser St eN

E Kent Av

E 54th Ave

Elli o

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Main St

Cambie St

Renfrew St

Main St

Cambie St

Oak St

Arbutus St

Granville St

Larch St

Mackenzie St

Nanaimo St

Quebec S t

Fir St

Burrard St

Alma St Dunbar St

Blenheim St

W allace St

Oak St

E 57th Ave

10

E 49th Ave

SE Marine Dr

r Rive ser F ra

6

River Rd

NEW CONDOS

1. VIRTUOSO 11b - 6033 Gray Ave 604-221-8878

8. INTRACORP TOWNHOME COLLECTION,

2. MONOGRAM

7302-7358 Granville 604-891-1288 intracorp.ca/townhomes/c/granville59th/

Victoria Drive at E Georgia St Liveatmonogram.com

9. MIRABEL

3. ELENORE ON FIFTH 2106 Main Street elenoreonfifth.com

4. BRAVO 903 East Broadway 604-366-9505

5. THE RESIDENCES AT NOBEL PARK 6080 Gray Ave. 604-221-4450

6. CURRENTS AT WATER’S EDGE 3202 Riverwalk Ave. 604-451-8518

7. THE PACIFIC Pacific & Hornby grosvenorpacific.com

32 NextHome.ca | Vancouver / Downtown Vancouver

1345 Davie St. 604-273-1313 mirabelbymarcon.com

10. RESIDE 450-470 63rd Ave. (between Cambie and Yukon). residebymarcon.ca

11. 2ND & MAIN 2nd and main St. secondandmain.ca

12. BASALT 35th Avenue and Cambie Street 604-558-1907

Imperial St

nd

MacPherson Ave

W 49th Ave

E 41st Ave

Royal Oak Ave

rin

E 29th Ave Moscrop St Va nn ess Av Burke St e Bond St Grange St 1A

Nelson Ave

Ma

Springer Ave Delta Ave

SE

Canada Way

Sussex Ave

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16

E 22nd Ave

Patterson Ave

Ma Dr

7

Grandview Hwy

Boundary Rd

Sw

lvd

st B

ive r

Willingdon Ave

12

We

Fraser R

E Broadway

E 33rd Ave

W 41st Ave

13 15 99 14

1A

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W 33rd Ave

W 49th Ave

7

E 1st Ave

Rupe r t St

W 41st Ave

4 E 12th Ave

Parker St Gilmore Ave

r

W 33rd Ave

3

W 12th Ave

99

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W 16th Ave

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ENGLISH BAY

13. PARK GRAND Granville Street & Park Drive 778-999-2552

14. ASTER 604-915-6898 778-999-2552 asterliving.ca

15. CAMBRIDGE MEWS 59th and Granville 604-808-3058

16. 8888 OSLER 8888 Osler Street www.8888osler.com

17. WESTBURY Alamein Ave. & Macdonald St. 604-620-8295

n

TRENDING

THE LAG EFFECT LONG APPROVALS PROCESS IMPACTS THE MARKET

by SONIA BELL

We’ve all seen the headlines – high demand for Vancouver real estate and low supply has resulted in exorbitant home prices and a call for more affordable housing types, particularly multi-family developments.

Metro Vancouver home sales in October were 15 per cent above the 10-year October sales average, according to the Real Estate Board of Greater Vancouver (REBGV). The majority of sales were concentrated in the single-family attached and condominium sectors.

“Conditions continue to vary significantly based on property type.

The detached home market is well supplied with homes for sale, which is relieving pressure on prices,” says Jill Oudil, REBGV president. “It remains a much different story in the townhouse and apartment markets. Buyers of these properties continue to have limited supply to choose from and are seeing upward pressure on prices.”

According to a recent report by the British Columbia Real Estate Association (BCREA), Metro Vancouver is seeing a record number of housing starts. With starts expected to increase by 50 per cent in 2018, the new inventory should help ease the housing market in the region. But here’s the catch – the projects need to be completed before they can have any real impact.

While developers are eager to bring more projects to the marketplace, they are finding it difficult to meet the demand in a timely fashion. Due to the emphasis on higher-density 34 NextHome.ca | Vancouver / Downtown Vancouver

“

This extended period of time between concept and completion has been deemed the “lag effect”

”

housing and prolonged approvals processes, bringing a project from concept to completion can take years. This extended period between concept and completion has been deemed the “lag effect,” which according to BCREA, has “exacerbated short-term market imbalances.”

What’s happening behind the home building scene that’s causing this delay? The issue is multi-faceted, and the complicated approvals process is one of the many hurdles builders face.

According to Jason Turcotte, vicepresident of Cressey Development Group, “Timelines for projects, from start to finish, vary drastically depending upon the complexity of the approvals process, the form of construction such as townhouse versus highrise, and the general scale of the project. However, regardless of the form, all timelines are being stretched due to increasingly complicated approvals processes, public opposition, generally larger scale developments and a drastic shortage of skilled labour.”

According to the Canada Mortgage and Housing Corp. (CMHC), it takes more than 20 months for an apartment project to proceed from start to completion in Metro Vancouver. The number of months varies in the region from 12.5 months in Surrey to an extensive 35.7 months in Vancouver. Ironically, the most competitive housing market has the most drawn-out approvals process.

“Vancouver has some of the most complicated and time-consuming approvals processes anywhere. Not to mention, the projects in Vancouver tend to be more of the large-scale, highrise variety which simply take longer to build,” says Turcotte. “I suspect Vancouver’s proportion of highrise developments relative to wood-frame, in contrast to Surrey, accounts for a large part of the differences in average timelines. But Vancouver is a city where almost all new development is taking place in previously developed residential areas, so the public process – and opposition – is much more intense.”

Public opposition? No surprise here.

High-density housing has a reputation for sparking resistance, where NIMBYs unite to oppose new developments they feel will negatively impact their neighbourhood.

However, the lag effect has far greater implications than simply a delayed housing development. The lag effect creates a disparity between supply and demand, and its ripple effect trickles down to prospective buyers and the overall housing market.

Average length of construction (in months) by dwelling type Single

Semidetached

Row

Apartment

All

**

41

**

35.7

35.8

South Granville/Oak

15.8

**

16

24.8

24.3

Kitsilano/Point Grey

15.1

**

**

14.2

14.8

Westside/Kerrisdale

16.2

16

11.4

21.6

17.9

Marpole

14.7

9

**

19.5

15.5

Mount Pleasant/ Renfrew Heights

11.2

10.8

15.2

14

12.5

East Hastings

9.6

13.7

19

18.7

17.1

Southeast Vancouver

10.3

9.6

22.6

26.5

22.5

Central Park/ Metrotown

12.8

9.5

**

17.3

15.2

Southeast Burnaby

11.9

8.7

9.9

16.1

14.1

North Burnaby

12.2

9.6

28

21.9

19.7

New Westminster

10.4

9

17

18

17.2

North Vancouver CY

9.6

15

**

15.6

14.8

North Vancouver DM

14.3

**

15.4

14.4

14.6

West Vancouver

19.5

**

13

15.5

19.1

Richmond

11.8

12.1

10.3

21

18.6

Delta

9.1

9

10.4

14.2

12

Surrey

10.2

10.4

9.4

12.5

10.7

White Rock

13.5

10

**

14

13.7

Langley City and Langley DM

8.4

5.6

7.9

14.3

10.3

Tri-Cities

9.2

9.8

10.1

20.9

15.9

Maple Ridge/ Pitt Meadows

8.5

11.8

12.6

14.7

10.7

Vancouver CMA

11.1

10.6

10.4

20.6

16.5

Downtown

Notes: CMA, DM and CY definitions are based on 2011 Census Geography Definitions Source: CMHC Starts and Completions Survey

Turcotte puts it simply: “Time is money,” he says. “The longer it takes to approve a project, the more expensive the housing units become.

Especially in this rapidly escalating marketplace, where we have seen our projected rents on proposed new rental projects increase substantially due to long drawn-out approvals processes, which becomes necessary simply to keep pace with the rabidly escalating cost of new construction.

All these costs are eventually passed on to the consumer.”

While many of the developments on the horizon for 2018 have already been pre-sold, multi-family completions can add to the overall housing supply through several other channels, according to BCREA: • Households in Metro Vancouver transferring from the rental market into homeownership will free up rental supply • Households in Metro Vancouver moving from existing ownership bolster supply when they put their homes up for sale • Investors intending to earn rental income create additional rental supply To help reduce the amount of time to complete much-needed housing projects in Metro Vancouver, Turcotte suggests to “avoid doing neighbourhood plans that designate land uses, but require each new project to proceed through a rezoning individually. This essentially doubles up the public process, which leads to longer approvals timelines.

New neighbourhood plans should ‘pre-zone’ development lands.

“Also, Cities could, and should, rely more heavily on the registered professionals to guarantee that development plans meet the appropriate regulatory instruments, whether that be compliance to zoning or Building Codes, as the case may be.”

DEC 8, 2017 - JAN 5, 2018 35

ADVICE | GVHBA REPORT

MAINTAINING YOUR HOME AFTER MOVING IN

BOB DE WIT

Congratulations! You’ve purchased a new home. As a new homeowner, what should you expect from your builder, and what are your responsibilities to maintain the value of your home?

Portrait Homes, Ovation Award winner for 2017 Best Single Family Residential Community: Nelson Peaks, provides an excellent example of what a homeowner can and should expect.

“Buying a new home is the best decision you can make,” says Robert Grimm, senior advisor to Portrait Homes. “Today’s homes are built to strict energy efficiency guidelines that will save you money in operating costs.

A new home comes with a two-, fiveand 10-year warranty that gives you peace of mind for years to come.

“At Portrait Homes, we are passionate about customer care and building the best homes we can. We go the extra mile for our homeowners – whether it is the tag on each appliance confirming it has been checked, or the Home Care Kit including extra tiles, an additional furnace filter and caulking gun, to name a few. Portrait Homes even offers an online consumer library, assisting homeowners with easy fixes such as unclogging a slow drain, changing a furnace filter and cleaning fridge coils.”

Though your home is new, “properly maintaining and looking after it will help preserve its value for years to come,” says Grimm. Here are a few suggestions for taking care of your new home: 36 NextHome.ca | Vancouver / Downtown Vancouver

CLEAN YOUR GUTTERS EVERY FALL

Doing so will prevent water from potentially entering your home via the foundation or roof. Grab a sturdy ladder and use gloved hands or even a gardening trowel to remove debris from the gutters before flushing them with a garden hose.

CHECK THE CAULKING ON KITCHEN COUNTERTOPS, TOILETS, TUBS AND SHOWERS ANNUALLY

Intact caulking will prevent water from leaking into the rest of the bathroom, which can ultimately result in mold and other potential damage. If the caulking is cracked or peeling, replace it with a polyurethane caulk. If you notice condensation or discolouration, we recommend calling a plumber to source the cause of the leak.

CHANGE YOUR FURNACE FILTER QUARTERLY

A filter is not very expensive and keeping it clean will reduce your heating costs and give you cleaner air to breathe. Turn off your system, remove the old filter, slide the new one in and turn everything back on. Don’t forget to service your furnace regularly. Portrait Homes recommends changing it quarterly,

as this will help prolong the life of your unit.

CHECK AND TOUCH UP EXTERIOR PAINT EVERY SUMMER

Aside from curb appeal, the paint and stain serve as important protectants that prevent gutters from rusting and your wood siding from rotting. Grab your ladder and look for chipping, peeling, blistering or cracking; touchups can include sanding, scraping, patching, priming and repainting small areas.

While this list contains important items, it doesn’t include all the things you can do to maintain your home.

We recommend connecting with a professional at gvhba.org.

The Ovation Awards are dedicated to acknowledging quality and excellence in our industry. For more information on Portrait Homes or to explore more award-winning homes, please visit ovationawards.ca.

Bob De Wit is CEO of the Greater Vancouver Home Builders’ Association.

Visit gvhba.org.

+MORE ADVICE ONLINE nexthome.ca/news/advice

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A L A N D M A R K CO M M U N I T Y O N T H E PA R K · N OW S E L L I N G

Rendering is artist illustration only.

Discover one of the North Shore’s hidden treasures.

O u t s t a n d i n g 2 & 3 B e d r o o m C o n d o s a n d Tow n h o m e s Ava i l a b l e Nest led a mong t he t rees a nd h i l lside of h istor ic Moody v i l le Park , Green on Queensbur y resident s w i l l have d irect access to t h is legac y locat ion a nd it's newly desig ned g reen gat her ing spaces, play areas, preser ved park pat hways, bi ke pat hs a nd l in k age bet ween t he Nor t h Shore Spir it Tra i l.

QUEENSBURY AVE

MOODY AVE

DISCOVERY CENTRE NOW SELLING DISCOVERY CENTRE NOW OPEN 3RD ST EAST

MOODYVILLE PARK

50 Queensbury Ave, North Vancouver (at East 3rd St & Queensbury Ave) Open Daily from Noon - 5 PM (closed Fridays) Contact Us Today I green@qualex.ca I 604 990 8800

Q UA L E X .C A /G R E E N

Rendering is artist's interpretation only. This is not an offering for sale. Any such offer can only be made by way of disclosure statement. E.&O.E. ™ denotes one or more trademarks of Qualex-Landmark Management Inc. used under license by Qualex-Landmark Northern Limited Partnership.

HOT PROPERTIES

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Fleetwood 18505 Laurensen Place 604-372-3306

208 Street & 72nd Avenue 604-427-3407

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6. HILLCREST SULLIVAN RIDGE 146th & 61 Ave 778-565-7768

7. THOMAS 8425 Venture Way liveatthomas.com

8. FLEETWOOD RISE 103-16433 Watson Dr. 604-372-2122

40 NextHome.ca | Surrey / Langley / Abbotsford / Mission

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17

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nd

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er Fra ser R iv

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A community crafted to take advantage of its location in the civic centre, Township Commons is a distinct collection of condominiums and townhomes with something for everyone.

WILLOWBROOK MALL

This is currently not an offering for sale. Such an offer can only be made by way of disclosure statement. Materials may be substituted with equivalent or better at the developer’s sole discretion. Renderings are an artist’s conception and are intended as a general reference only. E.&O.E. Sales and Marketing provided by Fifth Avenue Real Estate Marketing Ltd. fifthave.ca 604-583-2212.

PROPERTY PROFILE

PCI DEVELOPMENTS TEAM APPROACH TO EXCEPTIONAL DEVELOPMENT An award-winning, Vancouverbased real estate developer, PCI Developments has been changing the face of Metro Vancouver’s urban neighbourhoods for more than 35 years. Their vibrant, master-planned communities are defined by engaging contemporary architecture, highly functional living spaces, outstanding amenities and a distinctly 21st Century outlook on increasing environmentally-friendly transportation alternatives. They have developed more than six million sq. ft. of real estate, establishing some of Metro Vancouver’s most prominent urban landmarks, and every team member is committed to creating sustainable, mixed-use communities where people truly can live, work, shop and play.

The company’s list of accolades is a lengthy one and includes recognition at local, provincial, national and international levels.

Most recently, PCI’s iconic Marine Gateway community was awarded the prestigious Urban Land Institute’s Global Award for Excellence — an honour that brings world-wide recognition to the already much lauded and loved development.

Located at Marine Drive and Cambie Street in Vancouver, Marine Gateway is more than just close to transit, transit is integrated into the very fabric of the design.

Expanding on the success of Crossroads, its predecessor to the north at Broadway and Cambie, this multi-phase project brought new employment opportunities, recreation, shopping and a diverse array of dining and services to a 42 NextHome.ca | Surrey / Langley / Abbotsford / Mission

King George Hub located adjacent to the Expo Line’s King George Station

previously under-serviced area. The result is dynamic, diverse and vibrant, attracting buyers of all demographics – from first-time homeowners to downsizers to investors.

RE-IMAGINING SURREY CITY CENTRE

Today, PCI is bringing their expertise to Surrey City Centre. Located adjacent to the Expo Line’s King George Station and two proposed future rapid transit lines, the first tower at King George Hub sold an astonishing 434 homes within 10 days — 98 per cent of those buyers were already local residents.

Tower 2 started selling shortly after and with the incredible demand, the 302 homes have sold rapidly as well.

TEAM FIRST

There’s no question PCI’s team-first approach works, and the corporate website sums it up. “We have endured more than 35 years in a competitive changing market place. Our corporate culture is to be adaptive, flexible and work collaboratively in a team environment… and that requires exceptional people. We are proud of our team. They are a diverse group with varied backgrounds, skills and education. Our success is the result of the collaboration of our whole team.”

For more information about PCI and its projects, visit pci-group.com. Visit kinggeorgehub.com to stay up to date with information about the area.

THANK YOU METRO VANCOUVER! TOWER 1 & 2 SOLD OUT! UNPRECEDENTED SUCCESS IN SURREY'S HISTORY

738 NEW HOMEOWNERS WITHIN 3 WEEKS

AWARD-WINNING PCI DEVELOPMENTS

TOWE R 1 SO

BUILDING COMMUNITIES FOR OVER 35 YEARS

LD! TOWE R2

697 HOMES PURCHASED BY LOCAL RESIDENTS

SOLD! FUTURE MIXED USE

(41 NON-RESIDENTS)

1 IN 4 ARE FIRST TIME BUYERS FUTURE MIXED USE

30% FROM VANCOUVER ADDRESSES

65% LIVING WITHIN 20KM

CONSTRUCTION BEGINS SPRING 2018. STAY UPDATED KINGGEORGEHUB.COM ARTIST'S RENDERINGS AND MAPS ARE REPRESENTATIONS ONLY AND MAY NOT BE ACCURATE. THE DEVELOPER RESERVES THE RIGHT TO MAKE CHANGES TO THE INFORMATION CONTAINED HEREIN WITHOUT NOTICE. E&O.E.

TRENDING

THE WEST IS BEST: BC TO LEAD ECONOMIC GROWTH IN 2018 Alberta’s economy is set to lead the country this year, with robust economic growth of 6.7 per cent.

Next year, however, the province will take a back seat to BC, who will emerge once again as the provincial growth leader, according to The Conference Board of Canada’s Provincial Outlook: Autumn 2017.

“Next year, with strength in many sectors, British Columbia’s economy is poised to outpace all other provinces and will be one of only three provinces with growth above two per cent,” says Marie-Christine

Bernard, director, provincial forecast, The Conference Board of Canada.

The province is forecast to enjoy real GDP growth of 3.2 per cent this year. And, while slightly weaker growth of 2.7 per cent is anticipated for 2018, BC will still outpace all other provinces in economic growth.

One of the factors behind the slowdown next year is the cooling off in the housing sector. Measures implemented to cool demand and continued challenges related to housing affordability have led to a small decline in housing starts this

year, and they are forecast to remain virtually flat next year.

The cooling off in the housing sector will trickle down through the economy and lead to slower growth in employment, income, and, most significant of all, consumer spending. Meanwhile, the province’s forestry sector is expected to be either flat or negative over the next five years due to ongoing problems with the mountain pine beetle infestations and duties imposed by the U.S. on Canadian softwood lumber imports.

Estimated annual space heating costs Lower Mainland*

2,000 1,500

$1,695

1,000

Buy a home with natural gas and save.

500 $0

Natural gas.

Good for smaller bills.

$445 Natural gas

Electricity

*Annual heating costs are based on 2,300 square foot Lower Mainland home at current rates (FortisBC natural gas rates as of January 2017, BC Hydro electricity rates as of April 2017). Savings may vary.

Heating your home is one of your biggest energy costs. But with high-efficiency natural gas heating, you’ll see standout savings and stay cosy and warm.

That’s energy at work. fortisbc.com/homebuying

FortisBC uses the FortisBC name and logo under license from Fortis Inc. (17-331 11/2017) 17-331_Next_Home_Magazine_Ad_7.25x4.375_P2.indd 1 44 NextHome.ca | Surrey / Langley / Abbotsford / Mission

11/20/2017 2:34:04 PM

VIP SELECTIONS ON NOW. REGISTER FOR YOURS. 3 & 4 BED HOMES FROM THE $630’S*

TRENDING

5 MAGICAL PLACES TO SEE CHRISTMAS LIGHTS THIS HOLIDAY SEASON

by JENNIFER FODEN

1.

It’s the most wonderful time of the year! Celebrate the holiday season by checking out these magical light displays across Vancouver.

3.

1. CAPILANO SUSPENSION BRIDGE PARK

The ever-popular Canyon Lights display at Capilano Suspension Bridge Park is back from Nov. 23 to Jan. 28. The suspension bridge, Cliffwalk, Treetops Adventure, rainforest and canyon will all be decked out in twinkly lights.

4.

2. ST. PAUL’S HOSPITAL

St. Paul’s Hospital’s annual Lights of Hope display – featuring more than 10 kilometres of lights – takes six weeks and more than 150 volunteers to build using all donated materials. It is also St. Paul’s Hospital biggest fundraiser of the year.

3. GROUSE MOUNTAIN

5.

Another holiday tradition for Vancouverites is the Light Walk at Grouse Mountain’s Peak of Christmas. Enjoy the mountaintop activities (ski, skate or snowshoe!) and then stroll through this year’s light display – they will be twinkling from Nov. 24 to Jan. 7.

4. VANDUSEN BOTANICAL GARDEN

Take a walk through a winter wonderland at VanDusen Botanical Garden’s annual Festival of Lights, open from Dec. 1 to Jan. 7. Buy tickets online and skip the line!

5. WINTER SOLSTICE LANTERN FESTIVAL

Honouring many cultural traditions, the 24th annual Winter Solstice Lantern 46 NextHome.ca | Surrey / Langley / Abbotsford / Mission

Festival is back on Dec. 21 in three neighbourhoods across the city. The festival illuminates the longest night of the year with fire, lanterns, singing, drumming, music and dancing!

From YP.ca. For more tips and city guides, visit yp.ca/tips

FROM TOP LEFT TO RIGHT (CLOCKWISE): PHOTO COURTESY OF TOURISM VANCOUVER/RISHAD DAROOWALA; FLICKR/GOTOVAN; COURTESY OF TOURISM VANCOUVER/RISHAD DAROOWALA; COURTESY OF TOURISM VANCOUVER/COAST MOUNTAIN PHOTOGRAPHY; FLICKR/ITZAFINEDAY

2.

N OW

SE LL

A FRESH COLLECTION OF 1– 3 BEDROOM BOUTIQUE CONDOS Lattice² by Vesta Properties offers 1, 2 and 3 bedroom luxury condos ranging in size from 716 – 1,354 sq.ft.

These boutique condos have been designed to maximize your views with spacious balconies, HOURS OF OPERATION open floor plans and well designed interiors. You will also enjoy an impressive rooftop amenity Open Daily 12pm to 5pm (Closed Thursday & Fridays) space including a children’s play area, community gardens, picnic tables for alfresco dining

LOCATION 7138 210 Street, Langley BC

and dazzling views of Milner Valley and Mount Baker. This six-storey building has been designed to offer an exceptional quality of life and lasting value. No detail has been overlooked.

NOW SELLING! . Register today for more information!

Sales Centre

Each home maximizes your view.

Spring Palette

Register for updates

MilnerHeights.ca | 604.427.3407 208th Street & 72nd Ave. Langley, BC In our continuing effort to improve and maintain the high standards of the Milner Heights community, East Gordon Developments Ltd. (Vesta Properties) reserves the right to modify or change plans, specifications, features and prices without notice. Materials may be substituted with equivalent or better, at East Gordon Developments (Vesta Properties) sole discretion. All dimensions and sizes are approximate and are based on preliminary survey measurements. As reverse plans occur throughout the development please see architectural plans. Renderings are an artist’s conception and are intended as a general reference only. This is currently not an offering for sale. E&O.E .

Autumn Palette

IN G

Your NextHome is waiting.

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

HOT PROPERTIES

COQUITLAM - PORT COQUITLAM - PITT MEADOWS - MAPLE RIDGE 5

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5. KENTWELL 3500 Burke Village Promenade 604-871-4226

50 NextHome.ca | Coquitlam / Port Coquitlam / Pitt Meadows / Maple Ridge

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207 St

t r cen ive es rR Cr e s d r Fra A ll a

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128 Ave

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LEGAL MATTERS

TOP 5 BYLAWS TO WATCH OUT FOR WHEN BUYING A CONDO

OSCAR MIKLOS

Buying a condo? The legal doctrine of caveat emptor (i.e. “let the buyer beware”) continues to apply to real estate transactions in British Columbia and can deny buyers a remedy for defects discovered in the property after purchase. Generally, the onus is on the buyer to determine the state and quality of the property being sold.

When purchasing into a strata building, it’s imperative to review and understand the current bylaws of the strata corporation. A failure to do so can lead to nasty, unwanted surprises for homeowners down the road.

Here are five types of bylaws that you should pay particular attention to: 1. RENTAL RESTRICTIONS OR RENTAL PROHIBITION

If you’re purchasing the property as an investment, ensure that you are in fact able to rent out your strata lot. The strata corporation may have already enacted bylaws that could either prohibit the rental of residential strata lots altogether or limit the number or the percentage of strata lots that may be rented out. Strata corporations may also restrict the length of time for which strata lots may be rented.

2. SHORT-TERM ACCOMMODATION PROHIBITION

Offering up all or part of your strata lot for short-term accommodation

can be a significant mortgage helper.

However, the rise of Airbnb has led some strata corporations to pass use-of-property bylaws that prohibit short-term accommodations.

These bylaws should not be confused with rental restrictions or prohibitions, as the Courts in British Columbia have found that short-term accommodations are legally different in nature to rentals.

3. PET RESTRICTION OR PET PROHIBITION

Pet bylaws vary greatly and can be as extreme as a complete pet prohibition. However, it is more common for strata corporations to restrict the number and types of pets.

The Schedule “A” bylaws restrict pets in a strata lot to one or more of the following: a reasonable number of fish or other small aquarium animals, a reasonable number of small caged mammals, up to two caged birds, and one dog or cat. Strata corporations that have passed a custom pet bylaw may have modified these restrictions and may require pets to be preapproved and registered with the strata council.

4. APPROVAL FOR HARDWOOD FLOORING

It’s important to remember that when it comes to strata living, an owner is not the master of their own domain. In an attempt to reduce noise transmission between strata lots, many strata corporations have adopted bylaws that specifically regulate the installation of new flooring.

52 NextHome.ca | Coquitlam / Port Coquitlam / Pitt Meadows / Maple Ridge

“

A failure to review the bylaws can lead to nasty, unwanted surprises for new homeowners down the road.

”

Even if your strata corporation’s bylaws do not contain specific provisions targeting the installation of flooring, the bylaws will always contain some general provisions requiring approval of the strata council for alterations or renovations.

5. INSURANCE BYLAWS

A common issue condo owners face concerns the obligation to repair water damage. Depending on the wording of insurance bylaws, you may be liable for damage caused by water escaping from your strata lot irrespective of whether you have been negligent or careless. The easiest way to protect yourself from such claims is by making sure that you purchase your own individual homeowner insurance to fill in any gaps left by the strata corporation’s insurance policy.

Oscar Miklos is a lawyer at Haddock & Company in North Vancouver. Oscar is also the editor of HousingGuide.ca and StrataLaw.ca, free online references for homeowners in British Columbia.

+MORE ADVICE ONLINE nexthome.ca/news/advice

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This frame doubles as a place card and also a gift for guests to take home.

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54 NextHome.ca | Coquitlam / Port Coquitlam / Pitt Meadows / Maple Ridge

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c | Mix your patterns. This will help create a strong style statement. Just make sure all the colours flow. d | Use one standout piece. This could be anything from a floral centrepiece to a grouping of vintage candle holders or swath of succulents.

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BURNABY

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THE FLAGSHIP OF A VIBRANT WATERFRONT COMMUNITY COMING EARLY 2018 THE MOST LIVABLE ADDRESS Two iconic towers located within a 6 acre park, connecting 2.5 km of celebrated boardwalk with over 15,000 sf of new waterfront dining, shops and services

A BOSA PLATINUM ADDRESS PRIORITY REGISTER NOW PIERWESTBYBOSA.COM All illustrations reflect the artist’s interpretations only. Developer reserves the right to make changes and modifications to the information contained herein without prior notice.

This is not an offering for sale. No such offer can be made without a disclosure statement E.&O.E.

TRENDING

TOP 17 NEWS STORIES OF 2017

by SONIA BELL & WAYNE KARL

2017 was a pivotal year in Canadian real estate – from trends to new mortgage rules and policies. Here is a countdown of the 17 most newsworthy real estate events of the year.

16 ONTARIO TAKES ACTION ON HOUSING AFFORDABILITY

17 AMERICANS TO GOBBLE UP CANADIAN HOMES

After Citizenship and Immigration Canada’s website crashed when Donald Trump was elected in November 2016, Canadians anticipated an onslaught of Americans moving north. But 2017 offered Canadians a reality check.

There wasn’t a mass exodus from the U.S., in part due to our immigration laws, complicated tax issues and mortgage qualification rules in Canada.

58 NextHome.ca

Ontario decided to take action on housing affordability in 2017 with the introduction of the Ontario Fair Housing Plan. Sixteen measures were designed to help bring stability to real estate, including: the 15-per-cent Non-Resident Speculation Tax in the GGH; expanding rent control to protect tenants from drastic rent increases; identifying provincially-owned land to be used for new affordable housing; and introducing a $125-million, five-year program to encourage the construction of new purpose-built rental apartment buildings by rebating a portion of Development Charges.

15 THE FASTEST-GROWING CITIES IN CANADA

Statistics Canada released its 2016 population and dwelling figures, providing a clear view of which cities are growing and how fast. The country’s population increased five per cent from 2011 to 2016. Here were the fastest-growing cities in Canada, boasting the highest growth rate.

2011 to 2016 POPULATION GROWTH RATE

%

1. Calgary .....................................................14.6 2. Edmonton ...............................................13.9 3. Saskatoon ................................................12.5 4. Regina ......................................................11.8 5. Lethbridge, Alta .....................................10.8 6. Kelowna, BC ............................................8.4

13 HAMILTON ENTERS THE REAL ESTATE BIG LEAGUES

Hamilton proved to be Canada’s hottest housing market in 2017. ReMax made the declaration, pointing out the Hamilton-Burlington region has benefitted from its proximity to Toronto, garnering interest from move-up and “move-over” buyers. Hamilton had the highest year-overyear price increase in 2016, at 20 per cent, and was also forecasted to lead the country with the strongest price growth in 2017. Welcome to the big leagues, Hamilton.

7. Guelph, Ont. ............................................ 7.7 8. Victoria .....................................................6.7 9. Oshawa, Ont. ..........................................6.6 10. Winnipeg ................................................6.6

CANADA DEEMED MOST EXPENSIVE HOUSING MARKET

SOURCES: Statistics Canada

SEPT 1 - SEPT 15, 2017 VOLUME 2, ISSUE 18, FREE

SEPT 29 – OCT 13, 2017 | nexthome.ca

METRO VANCOUVER EDITION

Connecting Canadians to new HOMES & CONDOS for more than 25 years METRO VANCOUVER EDITION

14

INSIDE THIS ISSUE

3 STEPS TO START THE HOME HUNT

NEIGHBOURHOOD PROFILE: EXPLORE FLEETWOOD!

12

HOW TO WIN A BIDDING WAR

INSIDE:

UNDERSTANDING & PLANNING FOR MORTGAGE RATE CHANGES

Canada is the most unaffordable real estate market in North America, according to a study by Points2 Homes.

The affordability ratio was calculated to measure affordability (the median home sale price divided by the median annual family income) in 50 of the most populous cities in Canada, the U.S. and Mexico. The higher this ratio is, the more time it takes to pay off your house, and the wider the affordability gap.

The study found that Canada is North America’s most expensive market, with Vancouver topping the list, and out-ranking pricey U.S. markets such as Manhattan and San Francisco. Other Canadian markets on the list were Toronto (number 13), Mississauga (14), Montreal (31) and Calgary (32).

TAKE A TOUR OF NEW WESTMINSTER

NEXTHOME REBRAND

Similar to how the homebuying process has changed and evolved over the years, so have we! In 2017, our publication New Home & Condo guide was rebranded to NextHome. While we may have a new name and look, NextHome is rooted in more than 25 years of expertise in Canadian real estate.

COUNTRY

MEDIAN HOME SALE PRICE

MEDIAN FAMILY INCOME

MEDIAN MULTIPLE

Canada

$485,680

$64,752

7.5

U.S.

$258,300

$56,516

4.6

$41,748

$12,806

3.3

Mexico

DEC 8, 2017 - JAN 5, 2018 59

11

8

PRICING AND SUPPLY ISSUES PUSH BUYERS TO THE BURBS

VANCOUVER WELCOMES LOCALS-FIRST POLICY

High home prices and low supply continued to push buyers out of Canada’s two most expensive housing markets – Toronto and Vancouver – and into surrounding areas. The first quarter of 2017 witnessed more buyers leaving Toronto’s downtown core, in search of more affordable markets in southern Ontario.

Meanwhile, in Vancouver, buyers and those migrating from other provinces are fueling activity in Fraser Valley, Kelowna and Victoria, particularly in the upper-end of the market due to relative affordability in these regions.

10 CANADIANS’ HOUSEHOLD DEBT AT ALL-TIME HIGH

Canadians’ debt levels reached an alltime high in 2017. Statistics Canada reported that credit market debt as a proportion of household disposable income increased to a whopping 167.8 per cent, meaning that for every dollar of household disposable income there was $1.68 in credit market debt.

9 EDMONTON ON THE ROAD TO RECOVERY

It was a year of recovery for Alberta, becoming the fastest-growing provincial economy, according to the Conference Board of Canada. In Edmonton, GDP was to increase 3.9 per cent for 2017 and another 2.2 per cent in 2018. The unemployment rate is forecasted to fall from 8.9 per cent in 2016 to 6.9 per cent in 2018.

60 NextHome.ca

On Oct. 17, Mayor Gregor Robertson introduced a motion to city council aiming to prioritize new presale homes for Vancouver residents. One day later, the policy was passed.

The policy would require new developments to give Vancouver residents the first opportunity to purchase pre-sale homes in Vancouver. While controversial, the proposed policy would be part of the city’s 10-year housing strategy to relieve the affordable housing crisis.

7 REIN’S TOP PLACES TO INVEST IN

The Real Estate Investment Network (REIN) ranked the top places to invest in BC and Alberta, based on potential for housing market strength over the coming five-year period.

British Columbia

Alberta

1. Surrey 2. Abbotsford 3. New Westminster 4. Victoria 5. Kamloops 6. Kelowna 7. Chilliwack 8. The Tri-Cities of Coquitlam,

1. Edmonton 2. Calgary 3. Leduc 4. Fort Saskatchewan 5. Lethbridge 6. Okotoks 7. Red Deer 8. Medicine Hat 9. Airdrie 10. Lacombe

Port Coquitlam and Port Moody

9. Burnaby 10. Vancouver

6 2017 BUDGET FALLS SHORT

Budget 2017 proposed to spend more than $11 billion over 11 years in a variety of initiatives, including renewed federal investments combating and preventing homelessness, making more lands available for affordable housing, and a new $5-billion National Housing Strategy, which would be introduced later in 2017 focusing on critical housing issues and support for vulnerable citizens.

However, the budget was criticized after failing to address key market-related issues, such as affordability concerns among first-time buyers.

5

3

PRICES CONTINUE UPWARD TRAJECTORY

TORONTO INTRODUCES FOREIGN BUYERS’ TAX

As of October, the national MLS Home Price Index was up 9.7 per cent year over year, the smallest year-over-year increase since March 2015. The decline in growth largely reflects softening price trends in the Greater Golden Horseshoe, according to CREA.

Following Vancouver’s footsteps, Toronto welcomed a 15-per-cent foreign buyers’ tax in April. Between April 24 and May 26, one month after the tax was introduced, foreign investment had dropped to 4.7 per cent. Between May 27 and Aug. 18, transactions involving foreign buyers dropped to 3.2 per cent.

MLS HPI YOY increase

CITY

MLS HPI Benchmark Price

Greater Vancouver

12.37%

$1,042,300

Greater Toronto

9.72%

$747,800

Oakville-Milton

8.26%

$703,400

Guelph

13.24%

$406,800

Calgary

0.25%

$433,000

Ottawa

6.56%

$369,200

2 NEW MORTGAGE STRESS TEST

The Office of the Superintendent of Financial Institutions (OSFI) announced that, effective Jan. 1, 2018, all uninsured borrowers – those with a down payment of 20 per cent or more – must undergo a “stress test” and qualify at a new minimum rate, which is the greater of the Bank of Canada’s five-year benchmark rate (currently 4.89 per cent) or 200 basis points higher than their actual rate.

The changes will affect the amount buyers can afford; in one example, $706,692 under the old rules, and $559,896 under the new guidelines.

4

1

INTEREST RATES INCREASE – TWICE

NATIONAL HOUSING STRATEGY

The Bank of Canada (BoC) raised its benchmark interest rate – for the first time in seven years – in July to 0.75 per cent.

In September, the BoC raised the rate again to one per cent.

Those with variable-rate mortgages would immediately see an increase. For fixed-rate mortgage holders, they won’t be affected until renewal time.

After more than a year of consultations with everyday Canadians, experts, stakeholders, provinces and municipalities, the federal government unveiled Canada’s first ever National Housing Strategy in November.

Intended to help reduce homelessness and improve the availability and quality of housing for Canadians in need, the 10-year, $40-billion plan aims to:

BOC OVERNIGHT LENDING RATE

• Reduce chronic homelessness by 50 per cent • Remove more than 530,000 households from housing need • Create four times as many new housing units as built under federal programs from 2005 to 2015 • Repair three times as many existing housing units as repaired under federal programs from 2005 to 2015, and • Protect an additional 385,000 households from losing an affordable place to live.

.50% to .75%

July 2017

.75% to 1%

September 2017

READ MORE 2017 NEWS STORIES AT nexthome.ca/news

DEC 8, 2017 - JAN 5, 2018 61

ADVICE | CONDO SENSE

ANOTHER WILD YEAR RECAPPING 2017

CAMERON MCNEILL

December is the perfect time to reflect upon the year behind as we prepare for the year ahead. If you have been following the real estate market in Vancouver and the surrounding areas, you’re aware that 2017 was another wild year. Let’s look at the numbers behind the city’s current housing market.

RESALE MARKET OVERVIEW

In general, every market and product type saw prices continue to rise throughout 2017. The total resale market saw a 14-per-cent price escalation and approximately 33 per cent sales-to-listings ratio. These numbers indicate a strong seller’s market, placing upward pressure on housing prices. Currently, the benchmark price for all housing types is $1,042,300 in Greater Vancouver and $751,400 in the Fraser Valley.

The housing market has started to see signs of a slowdown, particularly in higher-priced segments, as prices rise to new heights. However, the impending mortgage stress test policy taking effect on Jan. 1, 2018 is already affecting the market, accelerating activity in entry-level segments for townhomes and apartments, ensuring 2017 finishes strong.

RESALE SINGLE-FAMILY

The detached market saw significant price increases in 2015 and 2016.

62 NextHome.ca

After the foreign buyers’ tax was implemented in the fall of 2016, we witnessed a slight pause in the market as people adjusted to the new policy.

However, 2017 started off with strong demand and the first six months saw rapid price escalation.

In Greater Vancouver, we have started to see prices shift slightly downwards for single-family homes in areas such as Richmond, Burnaby and Vancouver, which had previously seen the largest increases. The benchmark price for detached homes in Greater Vancouver is now more than $1.6 million and seeing sales activity levels that indicate a balanced market.

The Fraser Valley saw prices rise almost 12 per cent, with single-family benchmark prices reaching more than $1 million in areas such as Langley, Cloverdale and Surrey. We are now seeing the rate of increase slowdown as the year comes to an end.

RESALE TOWNHOMES

Fueled by unattainable prices in the single-family market, purchasers continue to turn to townhomes as an alternative. Greater Vancouver

and the Fraser Valley saw price escalation with townhomes being purchased quickly, particularly for entry-level price points. We have started to see a slowdown on luxury townhomes, particularly on the westside of Vancouver. The townhome benchmark price in Greater Vancouver is now $802,400 and $502,800 in the Fraser Valley.

RESALE APARTMENTS

The condo market continues to experience high demand. As prices for single-family and townhomes inch higher, these market segments are increasingly becoming out-ofreach for many families, resulting in greater demand for apartments. This has led to a sales-to-listings ratio of 105 per cent in the Fraser Valley and 64 per cent in Greater Vancouver, with a seller’s market being anything above 20 per cent. In fact, the Fraser Valley saw several areas hit a price increase of nearly 40 per cent in just one year – quite uncommon for these neighbourhoods. High demand has resulted in low inventory levels.

And with demand not being met,

GREATER VANCOUVER AND FRASER VALLEY HPI PRICE FOR ALL PROPERTIES TYPES JANUARY 2016 TO OCTOBER 2017 $1,200,000 GREATER VANCOUVER

15% Foreign Buyer Tax

$1,042,300

HPI Price

$1,000,000

FRASER VALLEY $751,000

$800,000

$600,000

Oct–17

Sep–17

Aug–17

Jul–17

Jun–17

May–17

Apr–17

Mar–17

Feb–17

Jan–17

Dec–16

Nov–16

Oct–16

Sep–16

August–16

Jul–16

Jun–16

May–16

Apr–16

Mar–16

Feb–16

Jan–16

$400,000

Real Estate Board of Greater Vancouver (REBGV) Fraser Valley Real Estate Board (FVREB)

Source: REGBV and FVREB

prices have continued to escalate.

Apartment benchmark price is currently at $369,400 in the Fraser Valley and $642,000 in Greater Vancouver.

NEW CONSTRUCTION – PRESALE

To date, approximately 16,000 homes have been released in 2017, with an additional 800 expected to come by the end of the year. Of these homes, almost 80 per cent have already been absorbed, an extremely high sold rate.

Burnaby released the largest number of pre-sale homes at more than 3,700 and saw rapid price escalation, as did Surrey Central/ North Delta, which had some of the largest increases in the Valley for apartments.

The new concrete construction

market has also had a record year, bringing 25 per cent more inventory to the market compared to 2016.

IN SUMMARY

Looking ahead, we believe the mortgage stress test could cause buyers to take pause in the first few months of 2018 before normalizing in the spring. We expect entry-level segments to be extremely active throughout 2018 due to affordability issues. Market fundamentals indicate another strong year, but the largest determining factor will be government intervention at both municipal and provincial levels.

Note: Statistics for November and December 2017 were not available at the time of publication.

Greater Vancouver data includes

Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, Pitt Meadows and Maple Ridge. Fraser Valley data includes North Delta, North Surrey, Surrey, Cloverdale, South Surrey and White Rock, Langley, Abbotsford and Mission.

Cameron McNeill is co-president of MLA Canada, a comprehensive real estate service provider. Partnering with residential developers, MLA Canada offers an unmatched level of expertise in advisory services, market intelligence, project marketing, sales, customer care and administration. Visit mlacanada.com

+MORE ADVICE ONLINE nexthome.ca/news/advice

DEC 8, 2017 - JAN 5, 2018 63

NEW HOME & CONDO DEVELOPMENTS

These listings are meant to offer a comprehensive overview of new home and condo developments currently being marketed throughout Greater Vancouver and the Fraser Valley.

Legend: CH = City Home DP = Duplex HR = High Rise LO = Loft LR = Low Rise LW= Live Work MR = Mid Rise PH = Penthouse RH = Row Home TH = Townhouse PROJECT

TYPE CONTACT

PRICE

ABBOTSFORD Allwood Place ..................................TH ..................604-260-6797.................................................................Call Bristol Heights ..................................TH ..................604-871-4241 ..............................................Coming Soon Eagles Gate .......................................SF ...................604-309-7729 ........................................... From $373,500 Falcon Ridge .....................................SF ...................604-309-0540 ..........................................From $789,000 Foxwood ............................................SF ...................604-850-5040 ..........................................From $524,900 Mahogany at Mill Lake ...................HR..................778-255-9990 .................................................................Call Mill District ........................................MR .................604-621-5888..............................................Coming Soon Straiton Estates ................................SF ...................604-850-5040 ................................................................Call BURNABY Arcola .................................................TH ..................604-671-8805 ..............................................Coming Soon Churchill ............................................TH ..................604-363-2627 ..............................................Coming Soon The City of Lougheed ....................HR..................604-328-7128 .................................................................Call Concord Brentwood ......................HR..................604-435-1383 ...........................................From $299,900 Connaught ........................................LR/TH ...........604-699-0036 ................................................................Call Eternity ...............................................LR...................604-330-8838 .............................................Coming Soon Etoile ...................................................HR..................604-828-1373 .................................................................Call Fraser ..................................................LR/TH ...........604-299-8861..............................................Coming Soon Juneau ...............................................HR..................juneaubyamacon.com ...............................Coming Soon Kings Crossing..................................HR..................ingscrossingbycressey.com ....................... Final Homes Lumina Brentwood .........................HR..................luminabrentwood.com..............................Coming Soon Polaris at Metrotown ......................HR..................polarismetrotown.com..............................Coming Soon Solo District ......................................HR..................solodistrict.com ...........................................Coming Soon Station Square ..................................HR..................604-438-1113..................................................................Call Syncro ................................................LR...................bold.ca...............................................................................Call Sussex .................................................LR...................sussexmetrotown.com ....................... From $1.5 million Terraces at the Peak .......................LR...................terracesatsfu.com ..........................................................Call Triomphe ...........................................HR..................604-828-1373 .................................................................Call Vittorio ...............................................HR..................604-430-8831.................................................................Call

PROJECT

TYPE CONTACT

PRICE

DELTA & TSAWWASSEN Brio ......................................................LR...................604-943-8811 .................................................................Call Chelsea Gate ....................................TH ..................chelseagate.com ............................................................Call Delta Gardens ..................................TH ..................deltagardens.ca ..............................................................Call Harbour Walk....................................LR...................604-274-7326 ........................................................................

Muse ...................................................LR...................liveatmuse.com ..............................................................Call Pelican Cove .....................................TH/DU ..........604-943-6677...........................................From $589,900 South Pointe .....................................SF ...................604-584-2908 ..........................................From $699,900 Tsawwassen Heights ......................SF ...................604-271-7288..................................................................Call Tsawwassen Shores ........................SF ...................604-943-6677.................................................................Call Tsawwassen Springs .......................SF/LR.............604-948-HOME..............................................................Call LANGLEY Bertrand Creek .................................SF ...................604-262-2965...........................................From $898,980 Boulevard at Town Centre ...........TH .................elyxhomes.com ..........................................Coming Soon City Park ............................................TH .................778-772-2919 .................................................................Call Crimson Cloverdale Village .........TH .................crimsoncloverdalevillage.com ...............Coming Soon Highfield ...........................................RH .................604-767-7800 ..........................................From $699,000 Gabriola Park ....................................TH ..................604-371- 1892.................................................................Call Hutton ................................................TH ..................huttontownhomes.com ...............................................Call Park Hill .............................................LR/TH ..........liveatparkhill.ca ...........................................Coming Soon The Terraces .....................................CH .................778-987-2489 ..............................................Coming Soon Township Commons .....................LR/TH ..........townshipcommons.com ..........................Coming Soon Union Park ........................................LR...................604-871-4288 .................................................................Call Willoughby West..............................SF ...................604-371-0733 .................................................................Call MAPLE RIDGE Brickwater at the Village................LR...................604-477-1500 .................................................................Call Cottonwood Lane ...........................TH ..................604-438-2650 .............................................Coming Soon Ridgemont ........................................TH ..................604-476-1777...............................................Coming Soon The Terraces ....................................TH .................604-351-3261 .................................................................Call Willow.................................................TH ..................lifeatwillow.com .............................................................Call Wynnbrook .......................................SF ...................604-380-4708 ................................................................Call

CHILLIWACK Camden at The Falls .......................SF ...................www.livethefalls.com .............................From $529,900 Midtown.............................................TH ..................midtownchilliwack.com ............................Coming Soon River’s Edge.......................................TH ..................604.824.5062 ..................................................................Call

MISSION / HARRISON 58 On Cherry Hill ............................TH ..................604-768-9572 ..............................................Coming Soon Horizons ............................................TH ..................1-888-826-1177 ........................................ From $319,800

COQUITLAM 567 Clarke + Como ........................HR..................604-937-5670 ................................................................Call Amberleigh .......................................SF ...................604-514-4359 ..............................................Coming Soon Brookmere ........................................HR..................604-259-5991 .................................................................Call Foster Ave Rowhomes ...................TH ..................intracorp.ca...................................................Coming Soon Kingston.............................................SF ...................604-514-4359 ..............................................Coming Soon Mont Bleu ..........................................HR..................montbleu.ca ................................................. Coming soon Simon 2 ..............................................LR...................SimonbyOtivo.com.....................................Coming Soon The Ridge at Burke Mountain ......SF ...................778-285-6299 .................................................................Call

NEW WESTMINSTER Elliot ....................................................HR..................604-662-8009 ................................................................Call Ewen ...................................................TH ..................604-549-8181 ..............................................Coming Soon Hamilton Village ..............................LR...................604-526-5266 .............................................Coming Soon Parkside at Victoria Hill ..................HR..................604-523-0733 .................................................................Call Queens Park Estates .......................TH ..................604-279-3829..............................................Coming Soon River Queensborough ...................TH ..................604-438-5050 ................................................................Call The Peninsula...................................MR .................604-544-2258 ................................................................Call The Royal at Victoria Hill ...............LR...................604-523-0733 .................................................................Call Thompson Landing ........................SF ...................604-520-3226...........................................From $476,900

BRINGING PEOPLE HOME CONNECTING BUYERS TO THE BEST NEW HOME OPPORTUNITIES IN METROPOLITAN VANCOUVER

FIFTHAVE.CA 64 NextHome.ca

N E W H O M E S A L E S AND MARKETING EXPERTISE

PROJECT

TYPE CONTACT

PRICE

NORTH VANCOUVER Atrium at the Pier ............................MR/TH ..........604-983-9065 ..........................................From $379,900 Cascade at the Pier .........................LR...................604-984-0906.............................................Coming Soon CentreView........................................HR..................604-998-8540 ................................................................Call Compass ............................................HR..................604-980-5000................................................................Call Connaught ........................................LR...................604-699-0036 ................................................................Call Crown & Mountain..........................LR...................604-985-8258 .............................................Coming Soon Edgemont Walk................................TH ..................boffoproperties.com ..................................Coming Soon Green on Queensbury ...................LR/TH ...........qualex.ca/green ............................................Register Now Grosvenor Ambleside ....................HR..................604-922-1380 .................................................................Call Latitudes ............................................TH ..................604-435-9477...........................................From $469,900 Northlands ........................................LR/TH ...........604-800-2120 ................................................................Call Pinnacle Residences at the Pier ..MR .................604-983-9065 ................................................................Call Residences at Lynn Valley .............TH ..................604-924-0166 ................................................................Call Seymour Village ..............................TH .................(604) 924-0818 ..............................................................Call Tatlow .................................................LR.............................................................................................Coming Soon Taluswood at Timber Court..................................604-988-3617 .................................................................Call Trophy at the Pier ............................MR .................604-983-9065 ................................................................Call x61 .......................................................LR/TH ...........604-971-3181 ..................................................................Call PITT MEADOWS Orion ..................................................LR...................604-315-7882 ...........................................From $299,900 Nature’s Walk ....................................TH ..................604-262-1850 ..................................................Call for info PORT COQUITLAM Lumiere ..............................................LR...................604-790-4002 ................................................................Call Montrose Square .............................LR...................778-255-2599 .................................................................Call Victoria ...............................................RH..................604-945-0087 .............................................Coming Soon PORT MOODY Edgestone .........................................TH ..................604-565-2653 ..........................................From $889,900 The Grande .......................................HR..................604-552-0552..................................................Call for info Platform .............................................TH ..................aragon.ca/platform.....................................Coming Soon Station, The .......................................TH ..................604-492-3338.................................................................Call

PROJECT

TYPE CONTACT

PRICE

River Park Place ...............................MR .................604-356-7719..................................................................Call River Inlet ..........................................MR/TH ..........604-233-2633 .................................................................Call Viewstar .............................................TH ..................604-285-9983 ................................................................Call Vogue .................................................TH ..................604-715-1250 ..................................................................Call Wembley............................................TH ..................604-231-0480.................................................................Call Westminster Terrace .......................TH ..................604-204-1077 .................................................................Call SQUAMISH / WHISTLER Elaho ...................................................TH ..................604-898-2232 .............................................Coming Soon Ocean Crest ......................................SF ...................604-896-2235 ...................................... From $1,298,000 ParkHouse .........................................LR...................604-567-5433 ............................................From $167,900 Ravenswood .....................................SF ...................604-670-7862.......................................... From $800,000 Summits View...................................TH ..................604-892-5888 ..........................................From $559,900 Aqua ....................................................TH/LR ...........1-877-344-5566........................................From $239,000 University Heights ...........................LR...................1-888-852-7575..............................................................Call Vantage ..............................................TH/LR ...........vantagesquamish.com..................................................Call SUNSHINE COAST SECHELT Edgewater at Porpoise Bay...........TH ..................604- 885-8556 ...............................................................Call SilverStone Heights.........................SF ...................604-741-1877 ............................................From $479,900 SURREY Aloha Estates ....................................TH ..................blackonyxmarketing.ca .............................Coming Soon Clayton Walk.....................................TH ..................claytonwalk.com .........................................Coming Soon The Guildford ...................................LR...................778-394-8867 ..............................................Coming Soon Harvest at Bose Farms....................TH ..................604-576-7722 .................................................................Call Hawthorne ........................................RH..................mosaichomes.com ..................................... Coming soon Highcrest ...........................................LR...................604-584-7273 .................................................................Call Hillcrest ..............................................SF ...................hillcrestbymarathon.ca ..............................Coming Soon King George Hub.............................HR..................kinggeorgehub.com......................................................Call Kings Landing ..................................LR ..................dawsonsawyer.ca .......................................Coming Soon The Links Residences .....................TH ..................infinityproperties.ca....................................Coming Soon Onyx ..................................................TH .................liveatonyx.ca ................................................Coming Soon Park Avenue West ............................HR..................604-583-9866 ................................................From $250’s Park Place Fleetwood ....................SF ...................604-539-3939.................................................................Call Park Place Village ............................TH ..................604-617-7763............................................From $359,000 Prime on Plaza .................................HR..................604-498-3888 ................................................................Call Summit ...............................................TH ..................778-591-6685 .........................................From low $700’s Thomas at Fleetwood ....................TH ..................liveatthomas.com .......................................Coming Soon University District ............................HR..................604-588-5795...........................................From $233,900 Westpointe ........................................TH ..................604-833-9193 .................................................................Call

RICHMOND Alfa ......................................................HR..................604-276-2532 .................................................................Call Cascade by the City ........................HR..................cascadecity.landaglobal.com ..................Coming Soon Concord Gardens ............................HR..................604-233-7748 ........................................From $300,000’s Empire Living....................................TH ..................604-244-9622 ................................................................Call Grand, The ........................................HR..................604 278 3880 ..................................................................Call Jasmine at The Gardens................TH ..................604-271-3331 ............................................From $924,000 Kenstone Gate..................................TH ..................604-218-3338 ...........................................From $529,900 Kingston Gate...................................TH ..................604-760-6024 ................................................................Call Livia .....................................................TH ..................604-364-2159 .................................................................Call VANCOUVER & AREA Mandarin Walk..................................LR/TH ...........604-278-0808 ................................................................Call DOWNTOWN Monet .................................................HR..................604-233-7748 ........................................From $300,000’s 8X On The Park ................................HR..................604-801-6861 .................................................................Call Opal at Richmond Centre .............HR..................604-303-7575 .......................................... From $464,900 1335 Howe ........................................HR..................604-689-8535 ................................................................Call Orchid by Beedie.............................HR..................info@orchidbeedie.ca ................................Coming Soon Avenue One ......................................HR..................avenueone.ca ...............................................Coming Soon Parc Riviera .......................................MR .................604-231-5900 ....................................... From Low $200’s Basalt ..................................................LR...................604-558-1907 .................................................................Call Park Residences at Minoru ...........HR..................604-303-8878 ................................................................Call Burrard Place ....................................HR..................burrardplace.ca............................................Coming Soon Pier, The .............................................LR...................604-274-7326 .................................................................Call The Charleson..................................HR..................604-689-8535 ................................................................Call Pinnacle Living at Capstan............HR/MR/TH...604-303-0148.................................................................Call Eventide .............................................LR...................eventidethree.com......................................Coming Soon Pinnacle Living Sorrento ...............MR/HR ..........604-303-0148.................................................................Call Mirabel ...............................................HR..................mirabelbymarcon.com .................................................Call Quintet ...............................................HR..................604-303-8878 ................................................................Call 234214_Axis_NHBG_BannerAd_(Full_Bleed)_prs01.pdf 1 2015-01-16 11:37 AM Oak Flats ............................................LR...................bold.ca............................................................Coming Soon Riga .....................................................TH ..................604-715-1250 ..................................................................Call The Pacific.........................................HR..................grosvenorpacific.com ...................................................Call Riva......................................................MR .................604-278-8825.................................................................Call Vancouver House ............................HR..................604-893-8958 ................................................................Call River Green .......................................MR .................604-233-2633 .................................................................Call

DEC 8, 2017 - JAN 5, 2018 65

Y

Y

TYPE

CONTACT

PRICE

EAST SIDE 2nd & Main ........................................LR...................secondandmain.ca......................................Coming Soon Avalon Mews ....................................TH ..................604-438-5050 ................................................................Call Bravo on Broadway ........................TH ..................604-366-9505 ................................................................Call Currents at Water’s Edge ...............LR...................604-451-8518 .................................................................Call Elenore On Fifth ..............................LR...................elenoreonfifth.com .......................................................Call Focal ...................................................LR...................604-563-6777 ..............................................Coming Soon Francis ................................................TH ..................604-330-8848 ................................................................Call Gem, The ...........................................LR...................liveatthegem.com .......................................Coming Soon Grandview Cascades ......................TH ..................grandviewcascades.com...........................Coming Soon Kensington Gardens .......................LR...................604-620-7886 ................................................................Call McKinnon by Cressey.....................LR...................mckinnonbycressey.com .............................. Final Home Monogram .......................................TH ..................604-808-5272 ................................................................Call Paragon..............................................LR...................604-688-5566 .............................................Coming Soon Renfrew & 2nd .................................LR...................604-830-3938 ..........................................From $259,900 River District - Avalon Park ...........HR/MR/CH ..604-879-8830 ................................................................Call Skyway ...............................................HR..................604-436-1100 .................................................................Call Triumph..............................................TH ..................604-563-6200 ................................................................Call View338 .............................................LR...................604-303-8838 .......................................... From $219,900 WEST SIDE 7302-7358 Granville .......................TH ..................604-891-1288 .................................................................Call 1555 West Eighth .............................LR/MR ...........604-828-3998 ................................................................Call 41West ................................................MR .................604-563-8336 ................................................................Call 6th & Yukon.......................................LR...................cressey.ca ......................................................Coming Soon 99 West ..............................................MR .................604-620-8600..........................................From $528,800 W10th & Maple .................................MR/TH ..........604-239-2080 ..........................................From $429,900 Aperture .............................................LR/TH ...........604-345-9000 ................................................................Call Aster ...................................................LR ..................604-915-6898 ............................................Coming Soon Aston...................................................TH ..................604-418-6809 ...............................................................Call Belpark ...............................................LR...................604-891-1281..................................................................Call Boulevard ..........................................MR .................604-685-5778 ........................................... From $367,400 Cambie Star.......................................MR .................604-876-9222 ................................................................Call Cambridge Mews ............................TH ..................604-808-3058 ...............................................................Call Canvas ................................................MR .................604-875-8508 ................................................................Call Citti ......................................................MR .................604-880-6880................................................................Call Evelyn .................................................TH ..................604-922-0330 ................................................................Call Granville at 70th ..............................HR..................604-687-2298.................................................................Call Kerrisdale Gardens..........................MR .................604-559-9848 ..........................................From $540,900 Livingstone House ..........................LR ..................604-998-8988 ..........................................From $639,900 Maisonette .......................................TH .................604-318-7172 .................................................................Call McCleery and Magee .....................SF ...................604-255-3838 .................................................................Call Monarch.............................................MR .................604-568-6883 ......................................... From $444,900 One, The ............................................HR..................604-874-8368 ................................................................Call Parc 26 ...............................................MR/TH ..........604 336 6380..................................................................Call Parc Elise............................................MR/TH ..........604-336-6380 ................................................................Call 35 Park West .....................................LR...................604-563-8336 ................................................................Call Park Grand .......................................TH .................778-999-2552 .............................................Coming Soon Pinnacle Living at False Creek .....MR .................604-874-8368 ................................................................Call Pinnacle Living Broadway.............MR .................604-739-2080 ................................................................Call Primrose ............................................TH ..................PrimroseVancouver.com ...........................Coming Soon Prodigy ...............................................MR .................604-221-8878 ........................................From high $300s Q16......................................................TH ..................604-263-8090 ................................................................Call Reside ................................................TH .................residebymarcon.ca ....................................Coming Soon

PROJECT

TYPE

CONTACT

PRICE

Residences at Nobel Park .............HR .................604.221.4450 ..................................................................Call Shaughnessy Residences .............TH .................604-558-5852....................................... From $2,019,800 Sota .....................................................HR..................604-671-1025 ......................................... From 2.5 million The Spot ............................................MR .................604-568-6886 ..........................................From $269,900 The Ivy................................................LR...................604-566-5888 ................................................................Call The Grey ............................................MR .................thegreyliving.com ..........................................................Call The Regent........................................TH ..................604-273-1313 ..................................................................Call Tisdale ................................................TH ..................778-846-5990.................................................................Call W10th & Maple .................................MR/TH ..........604-739-2080 ................................................................Call Yukon Residences ..........................TH ..................604-558-5850 .......................................From $1,759,800 WEST VANCOUVER Bellevue by Cressey........................HR..................bellevuebycressey.com .............................................Email Chelsea by Cressey .........................MR .................chelseabycressey.com ...............................................Email Galleries on the Bay........................LR...................604-836-7355 .......................................... From $490,000 Hensley by Cressey .........................HR..................hensleybycressey.com...............................................Email Shannon Wall Centre......................LR...................604-267-8882.................................................................Call 8888 Osler ........................................LR...................8888Osler.com ............................................Coming Soon VICTORIA Black & White ...................................MR/PH ..........778-265-3464 ...........................................From $324,900 WHITE ROCK / SOUTH SURREY Beachborough .................................TH ..................beachborough.ca ...........................................................Call Berkeley Village ...............................TH ..................berkeleyvillage.ca ..........................................................Call Dawson’s Creek ..............................TH .................dawsonsawyer.ca .......................................Coming Soon The Eagles .........................................TH ..................dawsonsawyer.ca ...........................................................Call Edgewood Gate ...............................SF ...................778.294.9077 ...................................................................Call Evolve at the Hamptons ................TH ..................EssenceLiving.com/Evolve ..........................................Call Fantom ..............................................LR ..................604-538-8028 ...............................................................Call Freestyle.............................................TH .................dawsonsawyer.ca ........................................Coming Soon Headwaters Club .............................LR...................headwaters.club .............................................................Call Hycroft 2 ............................................RH..................605-541-2495 .................................................................Call Imperial ..............................................TH ..................liveatimperial.com .........................................................Call Foster & Martin .................................HR..................fostermartin.ca................................................................Call Miramar Village ................................HR..................604-542-8882 ................................................................Call Orchard Grove .................................SF ...................604-454-8654 ...............................................................Call Pacific Heights .................................SF ...................604-427-1803 .................................................................Call Plateau at Grandview Heights .....SF ...................604-560-6438 ................................................................Call Semiah ...............................................HR..................semiahbymarcon.ca ......................................................Call SoHo ...................................................TH ..................604-560-0272 ................................................................Call Southcrest .........................................SF ...................604-372-3683 .................................................................Call Southside...........................................SF ...................604-372-3683 .................................................................Call South Point Walk .............................TH ..................604-560-3238 ................................................................Call South Ridge Club ............................TH ..................604-582-1113 ..................................................From $420’s Switch .................................................TH ..................604-581-8080 ................................................................Call Viridian ...............................................TH ..................604-541-0707 .................................................................Call Westpointe ........................................SF ...................604-833-9193 .................................................................Call

NOTE: Pricing is subject to change; please contact the specific development for more up to date details or special promotions. To report any changes or corrections to this information, MLA_NCG_Footer_banner_FNL.pdf 10:40 AM please call 604.519.6080, fax 604.519.6088 or 1email 2017-05-29 homes@ypnexthome.ca

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