GTA Homes Magazine - June 3, 2023

Enjoy an active adult lifestyle at Edgewood Suites, a 55+ community located in the heart of Dundalk. Only 45 minutes from Georgian Bay, you can live surrounded by nature with access to skiing, golfing, sailing, biking, and hiking, yet close to every modern amenity you may need. Choose from studio rentals, and 1 or 2 bedroom suites featuring private balconies and a variety of building amenities.

EXPRESSIONS RELEASING SOON IN SIMPLY GRAND

Expressions is a Pronto community, where Losani starts building before you buy. This means no waiting during the early stages of building. Get a quicker closing plus a guaranteed price, guaranteed closing date and free extras. Expressions is an exclusive collection of townhomes near the Grand River in charming Paris, where Toronto is just over an hour away. Striking designer inspired interiors, beautiful open floorplans, and all the benefits of Pronto. Isn’t that Simply Grand?

Live between the woods, the stream and the pond.

PERSONAL FINANCE | JESSE ABRAMS

Jesse Abrams is Co-Founder at Homewise, a mortgage advisory and brokerage firm based in Toronto. thinkhomewise.com

WESTERN VIEW | MIKE COLLINS-WILLIAMS

Mike Collins-Williams, RPP, MCIP, is CEO West End Home Builders’ Association. westendhba.ca.

HOME REALTY | DEBBIE COSIC

Debbie Cosic is CEO and founder of In2ition Realty. She has overseen the sale of more than $15 billion worth of real estate. With Debbie at its helm, In2ition has become one of the fastest-growing and most innovative new home and condo sales companies. in2ition.ca

REAL ESTATE PRO | BARBARA LAWLOR

Barbara Lawlor is President and CEO of Baker Real Estate Inc., and an indemand columnist and speaker. A member of the Baker team since 1993, Barbara oversees the marketing and sale of condo developments in Canada and overseas. baker-re.com

TRREB REPORT | JASON MERCER

Jason Mercer is Chief Market Analyst the Toronto Regional Real Estate Board. His sought-after market analysis helps realtors and their clients understand housing trends and underlying economic drivers in the GTA. trreb.ca.

STAT CHAT | BEN MYERS

Ben Myers is President of Bullpen Consulting. Ben provides pricing recommendation, product mix, and valuation studies on new residential housing developments for builders, lenders and property owners. bullpenconsulting.ca

BIG STYLE, SMALL SPACES | LISA ROGERS

Lisa Rogers is Executive Vice-President of Design for Dunpar Homes. Lisa has shared her style and design expertise on popular television programs such as Canadian Living TV, House & Home TV and The Shopping Channel. Lisa is also a regular guest expert on CityTV’s Cityline. dunparhomes.com.

LEGALLY SPEAKING | JAYSON SCHWARZ

Jayson Schwarz LL.M. is a Toronto real estate lawyer and partner in the law firm Schwarz Law LLP. He can be reached by visiting schwarzlaw.ca or by email at info@schwarzlaw.ca or phone at 416.486.2040.

BILD REPORT | DAVE WILKES

Dave Wilkes is president and CEO of the Building Industry and Land Development Association (BILD), the voice of the home building, land development and professional renovation industry in the GTA. For the latest industry news and new home data, follow BILD on Twitter at @bildgta or visit bildgta.ca

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EDITOR-IN-CHIEF – GREATER TORONTO AREA

Wayne Karl, wayne.karl@nexthome.ca

CONTRIBUTORS

Jesse Abrams, Mike Collins-Williams, Debbie Cosic, Barbara Lawlor, Linda Mazur, Jason Mercer, Ben Myers, Lisa Rogers, Jayson Schwarz, Dave Wilkes

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VICE-PRESIDENT, MARKETING – GTA

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IS NOW THE TIME ?

If you’ve been waiting and watching the housing market in the GTA or elsewhere in Ontario, looking to time your homebuying decision, now might be the time.

Indeed, it might be the best time.

As is typical in spring – though these days, housing and the economy are, in some ways, decidedly atypical – we began seeing signs that the market was returning to “normal” in March.

Now, as our story on page 11 illustrates, prospective homebuyers who may have been sitting on the fence are once again confident in the GTA new home market.

“GTA homebuyers returned to the market, driving new home sales higher,” says Edward Jegg, research manager with Altus Group. “The fundamentals had pointed to a rebound in April, and that strength is expected to continue through the spring market.”

David Hill, president and founder of Ballantry Homes, concurs with this sentiment, pointing to sales at his company’s recent launches.

“The market has started to pick up since April, Hill says, in our In Conversation With feature on page 22. “You can tell that by checking the launch calendar of May and June. There are multiple projects coming to market every week. That means something. We launched our first phase of our highrise condo project in Oakville, The Villages of Oak Park, in April. There are more projects under the planning stage, and will come to market mid and late this year.”

This isn’t just marketing-speak from a builder trying to sell homes, as Hill cites economists, too, noting that the housing market and economy are picking up, and that interest rates could drop by as much as two per cent by 2025.

“Now is a good time to buy pre-construction, because the sale price is still at a low point,” he says.

As the market gathers steam, prices will likely increase. And since recent government initiatives to spur more new-home development will take some time to come to fruition, existing low supply and growing demand could cause inflationary pressures to the cost of new homes.

“Homebuyers should not miss this great opportunity for homeownership,” Hill says. “It may be the best opportunity in the next few years.”

Is now the time for you?

GTA NEW HOME MARKET BEGINS RETURN TO NORMAL IN APRIL

The GTA new home market rebounded in April, with sales beginning to return to more traditional levels, the Building Industry and Land Development Association (BILD) reports.

There were 2,391 new home sales in April, which was down 35 per cent from April 2022 and 30 per cent below the 10-year average, according to Altus Group, BILD’s official source for new home market intelligence.

Condominium units, including in low-, medium- and highrise buildings, stacked townhouses and loft units, accounted for 1,327 units sold in April, down 57 per cent from April 2022 and 39 per cent below the 10-year average.

There were 1,064 single-family home sales in April, up 81 per cent from April 2022 and 16 per cent below the 10-year average. Singlefamily homes include detached, linked, and semi-detached houses and townhouses (excluding stacked townhouses).

“GTA homebuyers returned to the market, driving new home sales higher,” says Edward Jegg, research manager with Altus Group. “The fundamentals had pointed to a rebound in April, and that strength is expected to continue through the spring market.”

Total new home remaining inventory was 14,928 units, slightly more than the previous month. It included 13,588 condominium units and 1,340 single-family homes, representing about 12 months and four months of inventory, respectively, based on average sales for the last 12 months. Remaining inventory includes units in pre-construction projects, in projects currently under construction, and in completed buildings. Although inventory numbers have moved closer to balanced market requirements of nine to 12 months of inventory, it is too early to suggest required

inventory levels have resulted in a sustained balanced market.

The benchmark price for new single-family homes decreased in April, compared to the previous month, to $1.76 million, which was down 1.1 per cent over the last 12 months. The benchmark price for new condominium units also decreased in April, compared to the previous month, to $1.10 million, down 7.3 per cent over the last 12 months.

“In the short term, the impact of sales on new home inventory will be balanced by new project openings, with numerous projects in the pipeline,” says Dave Wilkes, BILD president and CEO. “However, longer term we cannot take our eye off what needs to be the singular focus of every municipality in the GTA –consistently adding sufficient housing supply. Failure to do so will simply result in inflationary pressures to the cost of new homes returning.”

building small town canada.

We start with location. We let the land decide what our communities should look like. We create simple yet remarkable amenities to bring families together. That sense of place helps to determine the design and character of each community’s Master Plan.

Ask yourself if what you’re looking for is a place to live – or a place to Live Remarkably.

GTA RESALE SALES AND PRICE CONTINUE TO IMPROVE: TRREB

The GTA housing market continued to tighten in April 2023, the Toronto Regional Real Estate Board (TRREB) reports. On a year-over-year basis, sales edged lower compared to April 2022, but new listings were down by more than one-third. Fewer listings relative to sales meant there was more competition between buyers, supporting an improvement in selling prices since the beginning of this year.

“In line with TRREB’s outlook and recent consumer polling results, we are seeing a gradual improvement in sales and average selling price,” says TRREB President Paul Baron. “Many buyers have come to terms with higher borrowing costs and are taking advantage of lower selling prices compared to this time last year. The issue moving forward will not be the demand for ownership housing, but rather the ability to meet this demand with adequate supply. This is a policy issue that requires sustained effort from all levels of government.”

GTA realtors reported 7,531 sales through TRREB’s MLS system in April 2023 – down by 5.2 per cent compared to April 2022. In comparison to March 2023, sales increased on an actual and seasonally adjusted basis. On a yearover-year basis, new listings were down by 38.3 per cent in April 2023.

The MLS Home Price Index (HPI) Composite Benchmark was down by 12.1 per cent year-over-year in April 2023. Compared to March, the benchmark price was up on an actual and seasonally adjusted basis. The average selling price in the GTA was $1.15 million in April 2023 – down 7.8 per cent compared to $1.25 million in April 2022. The average selling price also increased compared to March, both on an actual and seasonally adjusted basis.

“As demand for ownership housing has picked up relative to supply, we are seeing renewed upward pressure on home

prices,” adds TRREB Chief Market Analyst Jason Mercer. “For a short period of time, higher borrowing costs trumped the impact of the constrained housing supply in the GTA. Renewed competition between buyers is once again shining the spotlight on the persistent lack of listings and resulting impact on affordability.”

“Lack of affordability in the GTA ownership and rental housing markets has been well-documented,” says TRREB CEO John DiMichele. “On top of this, households faced with steep price increases for basic goods and services have had to make tough decisions to adapt. It is time for governments to make tough choices as well. On average, every dollar a household makes in the first half of the year goes to taxes. Governments need to provide more value for every tax dollar they collect and should be looking for ways to reduce tax burdens moving forward.”

FUTURE OF HAMILTON AND AREA DEPENDS ON ADDRESSING HOUSING SHORTAGE

The City of Hamilton, along with Burlington and Grimsby, find themselves at the centre of a troubling paradox, according to homebuilding industry sources:

1. Metro Hamilton has a preexisting housing shortage and needs to double homebuilding over the next decade to address this shortage and keep up with population growth

2. The shortage of housing in Metro Hamilton has caused home prices and rents to rise higher than in other communities in Canada

3. Metro Hamilton’s high home prices and rents risk pricing out the workers needed to build those homes

Failing to address the housing shortage will not just cause living in Hamilton to become less affordable, but it will also strain the social and economic viability of the community. With an aging population, the region must attract and retain experienced workers to replace those retiring. It will need healthcare workers to care for an aging population and education workers to ensure Hamilton is a viable option for families

with children. A new report entitled “Who Will Swing the Hammer?” from Smart Prosperity Institute with support from the Hamilton Chamber of Commerce and the West End Home Builders’ Association, tackles this problem head on.

“Hamilton’s population is aging. We need to do more to ensure there are enough housing choices for both Millennials and Generation Z. Without that, we won’t have enough workers to support our local economy. Unfortunately, Hamilton is lagging behind communities like KitchenerCambridge-Waterloo when it comes to attracting younger families,” says Jesse Helmer, senior research associate, Smart Prosperity Institute.

“Hamilton’s vision is to be the best community to raise a child and age successfully, and in order to achieve that goal we must urgently address the current housing shortage,” adds Greg Dunnett, president and CEO, Hamilton Chamber of Commerce.

“Hamilton area businesses are looking to attract the best and the brightest talent from around the world, but for people to make Hamilton home, we need enough attainable,

family-friendly housing options so these workers can afford to live in our community. We need to take decisive action today, or we will risk losing talent and opportunities to our neighbouring regions.”

“Hamilton’s housing costs, relative to other cities like Brantford or London, are a primary driver of young families leaving the area,” says Mike Moffatt, senior director, Smart Prosperity Institute. “The high cost of housing is like a payroll tax for Hamilton area employers. If they wish to retain their workforce, there will be significant upward pressure on wages.”

Adds Mike Collins-Williams, CEO of the West End Home Builders’ Association, “Failure to construct enough housing, particularly attainable family-friendly housing, will make it challenging for Hamilton to attract and retain talent. Hamilton already lacks affordability for families; the region cannot allow the problem to worsen, otherwise we will lose the competition for talent. We need to build a lot more homes of all types and tenures for our growing community, it’s time to get shovels in the ground.”

BUILDER PROFILE

Losani introduces a new Pronto community in Paris

It’s the best-selling and most desired community in Paris, Ont., Simply Grand. Losani is launching Expressions, a collection of modern farmhouse towns, bringing contemporary architecture to a neighbourhood with plenty of smalltown charm that’s still close to big city amenities.

INSIGHT

Why housing needs to be a priority in Toronto’s upcoming mayoral byelection

On June 26, Torontonians will head to the polls again to choose the next mayor. At a time when housing supply and affordability are among the most urgent issues, voters must pay close attention to candidates’ housing platforms and consider whether their policies will truly help address the city’s housing crisis.

ESTATE HOMES

Braestone Estates – the final chapter to a remarkable story

Enter a world unlike any other at Braestone Estates. This unique community tells a tale of connection – with the land, with history and with each other. These are the hallmarks of Georgian Communities, which puts heart and soul into every new home.

Q&A

In Conversation With... Kelly Anderson, sales and marketing manager, Silvergate Homes Kelly Anderson, sales and marketing manager at Silvergate Homes, offers her insights into today’s real estate market, and why the Niagara Region is a hot new home destination.

HOMEBUILDING

Ontario budget to help housing supply and choice for homebuyers: Builders

The 2023 Ontario budget is expected to help address the housing supply issue facing the province, according to homebuilder groups..

WHY GTA NEW HOME SALES ARE DOWN

Over the past two decades, the market for new condominium developments in Toronto has been booming. However, storm clouds may be looming as the sales of these units have decreased substantially year-over-year. In March 2023, data from the Building Industry and Land Development Association (BILD) showed that condominium apartments – including low-, medium- and highrise buildings, stacked townhouses and loft units – totalled 893 units sold. This latest data release indicated that sales in March are down 73 per cent from March 2022 and are 63 per cent below the 10-year average.

Higher borrowing costs have resulted in slower sales activity, and high inflation and government fees have hurt the viability of new condominium projects, leading to fewer launches. If there is less product to buy, there will be fewer sales, and investors and end-users cannot buy what doesn’t exist. However, with record numbers of sales over the Q2-2021 to Q12022 period, a slight market reset isn’t necessarily bad, allowing construction costs to stabilize and land values to adjust downward. Support and interest from buyers have shifted to well-priced product in prime locations by top developers.

It always helps to know more about the macroeconomic context of the market and the factors

influencing new housing supply and pricing. The condominium market in the GTA is characterized by long cycles, due to the time it takes to build tall towers. Investors who have taken a long-term view of the market have done well. However, experts warn that the rapid pace of new condo development is expected to decrease over the next couple of years due to higher interest rates, rising construction costs and government fees. This is expected to lead to fewer new home completions and an increase in the prices of resale homes and rents around 2026-27, which could subsequently encourage investors to buy again en masse.

A common question regarding rising government fees and taxes on new housing, is why are they increasing? An existing premise has been that “growth pays for growth,” meaning that the infrastructure needs of a growing population should be met or funded via tax collected from developers.

While this premise has been debated, it’s a common sentiment within the Toronto development community that developers do not pay these taxes overtly. Instead, they shift this cost to the home purchasers in the way of higher home prices, which is another driver of price inflation.

Recent reports from several sources suggest that 25 to 30 per cent of the purchase price of a new build Toronto condo is levies imposed on builders who transfer those forward to purchasers.

Luke Johnson, vice-president of development and general counsel of Dunpar Homes, asserts that

combined, the three levels of government collect more off of a new home than the profit gained by developers.

These fees can’t always be passed on to purchasers, resulting in projects not getting built that would otherwise be built in a lower tax environment, resulting in less supply and even higher prices and rents. The impact on young professionals is they’re staying with their parents longer and leaving Toronto for better affordability in many circumstances (or never coming in the first place).

Despite the current market’s challenges, demand for new condominiums continues to outstrip supply. Still, developers continue to look at ways to meet that demand when affordability is so poor.

Before investing in the new condo market, it’s essential to think longterm and always ask questions. Factors to consider include immigration rates, employment numbers, restrictions on supply and how changing political policies could affect the housing market. Having an experienced team of real estate professionals around you can help you navigate the various factors that impact the market. Good luck.

Ben Myers is the President of Bullpen Consulting, a boutique residential real estate advisory firm specializing in condominium and rental apartment market studies, forecasts and valuations for developers, lenders and land owners. Contact him at bullpenconsulting.ca and @benmyers29 on Twitter.

MAKING A DIFFERENCE

LUCCHETTA HOMES OFFERS THREE NEW COMMUNITIES IN THE NIAGARA REGION

From Humble beginnings in 1960, Lucchetta Homes has been building beautiful places people love to call home with passion and purpose. And while the company has grown and matured over the years, it is still a family-run business and proud to be one of the top homebuilders in the Niagara Region. It stays true to the principles that have guided it from the beginning: Providing a great customer experience and building desirable communities in prime locations with homes of innovative designs and quality construction.

Design is the cornerstone of the Lucchetta difference. The company doesn’t design for itself, it designs for its customers. That’s why you’ll see the latest trends in home design in all Lucchetta models and floorplans. Every square foot serves a purpose.

Every design feature adds to the function and livability of your home.

The Lucchetta Design Centre Specialists have years of experience, making them another great resource as you choose the finishes and options for your new home. They help you keep both your dreams and your budget in check as you make your design selections. Buying a new home is an exciting step, and it’s just the first of many more before moving day. Lucchetta wants to make sure you know what to expect ahead of time – the timeline, the choices, your responsibilities and the company’s. There’s a standard building code, and then there’s Lucchetta. “We only want to build homes that we’d want to live in ourselves,” the company says. “We created better building standards of our own to do it.”

From the very beginning, it’s been their goal to build a better home with the features and benefits that give you confidence and lasting value. From foundation to rooftop, from wall to wall, Lucchetta is constantly striving to give homeowners the very best in solid, sound, energy efficient living. For almost 60 years, homeowners have counted on Lucchetta Homes for quality, integrity, trust and care. You can, too.

Lucchetta’s methods result in a weather-tight, energy-efficient Energy Star-rated home. You can save as much as 20 per cent on your energy bills, compared to a home built to standard code. Want the home of tomorrow today? Lucchetta Homes is a leader in future housing technology, and one of only two qualified builders in Niagara able

to offer Net Zero construction. A Net Zero home offers the lowest energy costs and comfortable living environment available.

Quality homes were always a given. The principals of the company, Robert and Edward Lucchetta, want you to “Live Your Best Life” and care about quality, about design, about community, and about their customers. Lucchetta’s homes are designed for real life, and how well they work for customers is the real test of their success. A home is more than bricks and mortar – more than lumber, drywall and cabinets. A home is a very special place where your life unfolds and memories are made. Why settle for less? You deserve a home you love. You deserve a home that’s been built to last with unmistakable quality and thoughtful design and built by a builder that truly cares.

LUSSO URBAN TOWNS – NIAGARA’S NEWEST HIP COMMUNITY

Located in the heart of St. Catharines, Lusso Urban Towns boasts a contemporary collection of urban townhomes with access to the best that Niagara has to offer – including abundant local shopping and dining,

sports facilities, schools close by, scenic parks for hiking adventures, challenging golf courses, as well as easy highway access to both Toronto and Buffalo international airports. Choose from a variety of two-storey, one-of-a-kind townhome designs, ranging from 1,817 up to more than 2,200 sq. ft.

Designed with an urban flair, these stylish and spacious two-storey towns reflect a modern, city-feel exterior, yet are built with an optimal layout. Form meets function with these homes from award-winning Lucchetta Homes, featuring two levels of spacious living, nine-ft. ceilings, extralarge single- and two-car garages, beautifully designed kitchens, extralarge windows, stunning exteriors, eight-ft. sliding glass doors leading to a tranquil covered outdoor deck and so much more.

The unique floorplans have three bedrooms located in the upper level, luxurious quartz countertops in the baths and kitchen, over-sized tile flooring, a gas fireplace and spa-like glass and tile walk-in showers in the primary ensuite bath are included in very home at Lusso. Homes in this community are low maintenance, as snow removal and lawn mowing ser-vices are provided by the homeowner’s association for a small monthly fee.

RIVERSIDE AT HUNTERS POINTE

Another Lucchetta community is the award-winning and highly successful The Residences at Hunter’s Point. This is an active adult lifestyle commu-nity, located in a truly unique setting along the Welland Canal in the heart of the Niagara Region. This location offers easy highway access to both Toronto and Buffalo international airports. You can choose any one of several stunning detached bungalows or bungalow townhome floorplans, ranging in size from 1,405 to 1,734 sq. ft.

Overlooking the Canal, residents can relax and watch ships meander slowly towards their destination. With its landscape dotted by wineries, world renowned Niagara Falls, casinos, spas, marinas, spectacular dining, golf courses and trails for walking or cycling, Hunters Pointe is the perfect destination for those seeking to live life to the fullest, without compromising the conveniences of modern living.

Rich with activities and amenities, Hunters Pointe is ideal for independent adults who value a vibrant social and physical lifestyle. Open concept bungalows are loaded with Lucchetta Homes’ architectural elements, upgraded finishes, oversized windows and striking design features.

SAFFRON ESTATES

Welcome to Saffron Estates, the newest master-planned community coming soon to one of Niagara’s most beloved towns, Fonthill. Lucchetta Homes is proud to be

offering a collection of elegant, transitional and contemporary style bungalow homes, perfect for today’s family. Saffron Estates provides residents with a smalltown feeling, where countless parks, trails, greenspaces, walkable neighborhoods, dining, shopping, golf, schools and more are all within proximity. Located minutes from Hwy. 406, the QEW and bustling Niagara Falls, you will find your perfect next home right here in Niagara.

For more information, visit lucchettahomes.com. The company also in-vites you to come by the Lusso Sales Centre at 24 Grapeview Dr. in St. Catharines. The Riverside at Hunters Pointe Sales Centre is located at 1 Perth Trail in Welland. And with construction well underway, Lucchetta also has move-in-ready homes at both sites, so buyer ready to act won’t be disappointed. Call 416.605.3885 or 905.658.2699 and take your first steps toward making your next home a Lucchetta home.

Building homes in 2023 might technically be very similar as 35 years ago, but today’s market is quite different. Buyers are far more discerning, and demands on new home quality and customer service have never been higher.

Ballantry Homes, with a mission to deliver the finest quality in design, materials and construction, and a commitment to offer exceptional customer service, strives to build not just homes but dreams.

We spoke with David Hill, president and founder, to lean more about the company’s philosophy, where it’s building now and what might be down the road.

DAVID HILL PRESIDENT AND FOUNDER BALLANTRY HOMES

by WAYNE KARL

It’s hard to believe we are midway through 2023 already… How is the year going for Ballantry Homes?

It has been a busy year so far for Ballantry Homes. We launched our new condo project, The Villages of Oak Park, in May. It is the first in a community of four buildings in Oakville. We are also working on another lowrise project in Brampton, which is coming soon this summer, and a lowrise project in the town of Erin, which will be launched near the end of the year.

And how was 2022?

Last year was busy for our land acquisition and development team.

We acquired new lands and started working on getting approvals for new projects. We were also busy with construction in Markham and Welland. Closings started to take place last month for both projects.

We’ve heard a lot about how tenuous the real estate market is these days, for various reasons. How are things at your various projects – either underway or planned?

The market has started to pick up since April. You can tell that by checking the launch calendar of May and June. There are multiple projects coming to market every week. That

means something. We have launched the first phase of our highrise condo project in Oakville, The Villages of Oak Park. There are more projects under the planning stage, and will come to market mid and late this year.

What would you say to prospective homebuyers who may be sitting on the fence about buying now?

We invited one of the economists from RBC to talk about the market and economy at one of our launch events for Oak Park. They mentioned that the market had started to pick up, and the interest rate would drop by two per cent by 2025. Now is a good time to buy pre-construction, because the sale price is still at a low point. Once the market starts to pick up, which has already started, prices will increase. And because the market is still warming up, most developers, including Ballantry Homes, are willing to offer more incentives than ever. Homebuyers should not miss this great opportunity for homeownership. It may be the best opportunity in the next few years.

You just had your Grand Opening at The Villages of Oak Park… how did it go?

It went well. We had a very good traffic and made good sales so far.

Even though we have plenty of competition, our project is in a better location. Location is always the most important factor for investors or end users to consider.

What is it about this project or community that appeals to homebuyers?

We spent a lot of time on the architectural design, which makes our building stand out. The Villages of Oak Park has great amenities and a 24/7 concierge. It is also a smart building with great features, such as keyless entry, delivery notification to your smart phone and amenity reservation. It is also a sustainable building with a geothermal system and energy recovery ventilator to save on long-term maintenance costs for all residents. The unit sizes are very well designed, which makes condo living more comfortable and desirable.

What are the “calling cards” about Ballantry Homes that you would like homebuyers to know?

Ballantry Homes has been in this industry for more than 35 years. We care about the homeowners and the products we deliver. Ballantry has a great team to work with homebuyers, and builds quality homes. It’s our mission and a practice for the last 35 years.

on a personal note

What are your passions away from the office?

You’ve been in the homebuilding industry for more than 35 years… What have you learned about homebuyers over these last few trying years that has changed the way you do business?

We always try to bring new and innovative designs and products to the market, such as Green building. It is what people want and expect.

And what have you learned about the business, or yourself, for that matter?

When I first started in the business, I wanted to build a quality home for my customers, that I could be proud of. Trends may have changed, but people are still looking for a quality product and one that their builder stands behind.

What’s next for Ballantry Homes?

Ballantry has a few master-planned communities that are under planning stage and will come to market late this year or early next year. We will continue bringing more well designed, luxury lowrise projects at ideal locations in GTA. Ballantry has also started looking at different needs of different age groups at various locations, bringing more types of products, such as condos and senior apartments, to market.

I enjoy golfing, though I am not very good, probably because I don’t spend enough time on it. Snow skiing in the winter and water skiing in the summer. But I really like getting to the cottage on weekends and spending time with my grandchildren.

Personally or professionally, how have the last few years affected your outlook or mindset?

I feel I have been blessed because I really enjoy what I do. But going forward, I want to take a little more time off and spend it with family and friends. The one thing COVID taught us is that life is too short, so have fun while you can.

What’s on your reading list these days?

I enjoy reading a book at night. James Patterson, Wilber Smith and Clive Cussler are a few of the authors I enjoy.

LOOKING TO BUY A NEW HOME?

FOCUS ON SOONER THAN LATER

With new home and condominium prices the way they are nowadays, you want to be especially sure of your purchase – that it fulfills your needs and at least some of your wants.

A lot of potential buyers have been sitting on the sidelines, waiting to see what happens as the result of the pandemic, interest rate hikes, inflation and the like. One thing they have in common is that they have seen prices rise overall. Regardless of what you may see in the media, that is not going to change for the foreseeable future. Across the GTA, we are still experiencing a demand-exceedssupply issue that keeps prices on an upward track. In addition, the price of labour and materials continues to escalate, and of course, that has its effect on home and condo prices. Add to all of this the fact that we don’t have enough skilled labour workers to build the homes we desperately need, and the supply situation inches the prices up even more.

One thing for sure is that demand will continue in a substantial way. According to Statistics Canada, last year, Canada’s population grew by more than a million people for the first time ever. As a result, we have the fastest population growth rates of any G7 nation. International immigrants made up approximately 96 per cent of those newcomers. The federal government is on track to welcome 465,000 immigrants

this year, with the goal of reaching 500,000 by 2025. Many will be admitted based on their work skills, which will help somewhat with new home construction.

If you have been thinking of adding a condominium suite to your investment portfolio, there’s good reason to act now. As of late April, the average rent in Toronto soared to more than $3,000 a month. I doubt rents will be going down substantially in the future. In addition, rental accommodations are difficult to find, so finding tenants isn’t difficult. And historically speaking, real estate is a lucrative investment, especially in the long run.

Remember that a decade or two ago, new home and condo buyers thought prices were high, but found ways to get into and move up in the market. Just look at the return on investment they have enjoyed over the years. Equity is a beautiful thing. It offers you options in life and eases the way for purchasing

something larger or smaller as your life circumstances change. Keep in mind, too, that when you buy new, you enjoy numerous benefits from warranty coverage to the ability to place your personal stamp on your surroundings by choosing your features and finishes.

If you are shopping for a new home or condo, by all means research the market – but realize that sooner rather than later is the best strategy for buying pre-construction and making the most of your purchase.

Debbie Cosic is CEO and founder of In2ition Realty. She has overseen the sale of more than $15 billion worth of real estate. With Debbie at its helm, In2ition has become one of the fastest-growing and most innovative new home and condo sales companies. in2ition.ca

DEBBIE COSIC

Exhale Condominiums

Luxury Resides in the West End.

Discover an exclusive enclave of 96 backto-back, spacious, open-concept luxury townhomes that merge and mingle with the vibrant downtown Lambton neighbourhood. Connected, considered, and conveniently located close to a plethora of amenities and urban adventure.

3-bedroom townhome living with 1 parking spot.

Register at dunparhomes.com

* Please ask sales representative for details. Prices, terms & specifications are subject to change without notice. E.&.O.E.

WEHBA NAMES WINNERS OF

AWARDS OF DISTINCTION

CREATIVE AWARDS

Best Project Logo

Branthaven Homes

The Greenwich

Best Magazine Advertisement

PRODUCT AWARDS

Best Kitchen Concept in a Midto Highrise DeSantis Homes

Century Condos

The West-End Home Builders’ Association (WEHBA) held its annual Awards of Distinction (AoD) Gala at Liuna Station in Hamilton recently. WEHBA’s Awards of Distinction Gala, is one of the most prestigious nights in the industry, and recognizes the highest levels of achievement in the homebuilding, renovation, community development and residential marketing industries. The Awards of Distinction cover building, design, promotion and marketing in the new home, renovation, marketing, sales and design.

This year, a new award was introduced to the WEHBA Awards of Distinction program: The Mario Borrelli Sales Team of the Year Memorial Award, recognizing the professional approach to sales, selling techniques and contribution to marketing new homes. Mario Borrelli, who passed away suddenly in 2021, was a long-time, active member of the West End HBA with Multi-Area Developments. .

The WEHBA Awards of Distinction recognize winners for their merit and give them the opportunity to showcase some of the latest ideas and projects in their specific field. From suppliers to marketers, the award entries come from every niche across the residential construction industry and the list of award categories has substantially grown over the years.

For a complete list of winners, visit westendhba.ca.

Emblem Developments

The Design District

Best Signage

Emblem Developments

The Design District

Best On-Site Sales & Marketing Package

Branthaven Homes

The Greenwich

Best Virtual Tour

DeSantis Homes

Century Condos

Best Ingenuity in Marketing

Emblem Developments

The Design District

Marketing Award of the Year

Emblem Developments

The Design District

ACHIEVEMENT AWARDS

The Mario Borrelli Sales Team of the Year Memorial Award DeSantis Homes

Century Condos

Alyssa DeSantis, Chiara Campli, Kelley Milan and Billie Ventresca

Consumer Choice Award, Low Volume

Marz Homes

Consumer Choice Award, High Volume

New Horizon Development Group

Best Exterior Concept on a Midrise DeSantis Homes

Century Condos

Best Exterior Concept on a Highrise Branthaven Homes

The Greenwich

Best Condominium Concept Under 750 Square Feet

Carriage Gate Homes

BeauSoleil | Sunrise Collection

Best Condominium Concept Spallacci Homes

The Moderne | Celestial

Best Townhome | Best in Housing Affordability

New Horizon Development Group

Peachy on the Mountain

Green Development of the Year DeSantis Homes

Century Condos

Project of the Year | Mid- to Highrise Development DeSantis Homes

Century Condos

Mike Collins-Williams, RPP, MCIP, is CEO West End Home Builders’ Association. westendhba.ca.

MIKE COLLINS-WILLIAMS

TIPS FOR FIRST-TIME

HOMEBUYERS IN TODAY’S MARKET

We hear a lot in the media about new homes and condominiums being priced out of the range of first-time buyers, and yet at Baker Real Estate Inc., quite often we sell to people just entering the market. One thing they have in common is using all the tools and incentives they can to be able to afford ownership.

Here are a few things to consider if you are thinking of purchasing your first home.

• Look to the government for help. On April 1 of this year, the government of Canada’s First Home Savings Account went into effect. This registered plan allows you to save for your first home tax free (up to certain limits). You can now open your account if you are a Canadian first-time homebuyer 18 years of age or older. In some provinces, that age is 19. Go to your bank, credit union, trust or insurance company and provide them with your social insurance number, date of birth and supporting documents to certify that you qualify. Find out more at canada.ca.

• Check rates with your intended mortgage lender. Fixed-rate five-year mortgages are coming down to 4.39 per cent – which, believe me, is phenomenal. Just ask anyone who bought a home years ago when rates were in the double digits. Every percentage point or part thereof you can save will pay off greatly during your amortization period.

• Visit Canada Mortgage and Housing Corp.’s (CMHC) website for a wealth of information on buying your first home. Here are just a few examples:

– The First-Time Home Buyer Incentive (cmhc-schl.gc.ca) helps qualified first-time buyers reduce their monthly mortgage payments through a sharedequity mortgage with the Government of Canada.

– The Home Buyers’ Plan (HBP) enables you to withdraw up to $35,000 from your RRSPs to buy a qualifying home. Find out more at canada.ca.

– Perhaps the most helpful information on this website can be found at cmhc-schl.gc.ca –Buying Guides for homes and a separate one for condominiums, as things differ from purchasing lowrise. From the basic questions to ask, to a checklist of items to remember, this guide is a must-have to ensure you make the right decision for you.

• Consider a condominium for your first purchase. In addition to more easily attainable price points, condos offer carefree living in locations that are close to public

transportation and a wealth of amenities. Many first-time buyers find they can earn equity while enjoying the perks of having beautiful amenities right in their building as well. Many also find they can get around the city without needing to own a car – which helps greatly with mortgage and maintenance payments. In addition, waiting for a condo to be built gives you time to save money toward your down payment – and you will likely earn equity even before you move in.

Buying a condominium is a fantastic way to get your foot in the new home market door. As I always say, buy new, buy now, and buy condo.

Barbara Lawlor is CEO of Baker Real Estate Inc. A member of the Baker team since 1993, she oversees the marketing and sales of new home and condominium developments in the GTA, Vancouver, Calgary and Montreal, and internationally in Shanghai. baker-re.com

BARBARA LAWLOR

Birchley Park

BUYERS AND SELLERS

MOVE OFF THE SIDELINES IN 2023

Rising interest rates and higher borrowing costs in 2022 resulted in sidelined homebuyers and sellers. Could some reprieve be in sight this year? After home sales and average selling prices flatlined last year, recent Ipsos polling reveals that buyers and sellers are eager to return to the market.

I chatted with Sean Simpson, Ipsos senior vice-president, on a recent episode of TRREB’s Ready to Real Estate podcast. We discussed how the latest consumer polling could impact market trends for the remainder of 2023.

Findings indicate that the promise of shrinking interest rates will entice buyers back into the marketplace. The belief is that interest rates have peaked and will logically begin to fall. Four in 10 prospective buyers say that they’ll consider variable rate mortgages. Remarkably, this is the highest number that Ipsos has ever measured since it started polling for TRREB in 2015.

The combination of lower housing prices and the promise of decreasing interest rates will create a more attractive market for first-time buyers. In last year’s poll, the percentage of first-time buyers as a share of likely homebuyers increased from 39 to 46 per cent. Many potential first-time buyers will be weighing renting versus buying in 2023. With the diminished rental supply and high competition between renters, Sean shared that

one-third of renters polled by Ipsos said they will not tolerate any further rent increases before looking to purchase a home.

Supply and demand should be harmonious, as the number of homeowners considering listing their homes this year is also on the rise. However, Sean cautioned that while rising home prices prompt more listings, any increase in supply has historically started at a very low level. You can expect market conditions to remain tight even if we see a moderate improvement in supply.

Increased listing activity will emerge from sellers interested in upgrading. This will affect the types of homes coming to market. Ipsos is projecting that nearly one in four listings will be townhouses, up significantly from earlier years. There will also be more competition for these homes in the second half of the year. This is because first-time buyers in the 416 area code will favour townhouses or condos for their relatively more affordable price point compared to detached or semi-detached houses.

Ipsos’ findings reflect that homeowners with single-detached homes plan to stay put in 2023. The number of listings will drop while buyer interest is forecasted to remain

strong. With limited supply, Simpson believes that competition for these coveted homes will undoubtedly increase in the second half of the year, putting upward pressure on price.

If you’d like to listen to my entire conversation with Simpson and other insightful chats with industry experts, head over to TRREB’s Ready to Real Estate podcast. We strive to cover topics that keep our listeners up to date on all things real estate in the GTA.

You can also stay up to date with our monthly Market Watch. We break down prices, sales and new listings each month with an easy to glance report. Visit trreb.ca to explore the latest look into the housing market. Plus, connect with a TRREB member realtor and search listings in real time on any device.

Jason Mercer is Chief Market Analyst the Toronto Regional Real Estate Board. His sought-after market analysis helps realtors and their clients understand housing trends and underlying economic drivers in the GTA. trreb.ca.

HOW BEST TO STRUCTURE

YOUR REAL ESTATE INVESTMENT?

JAYSON SCHWARZ, LLM

Let’s explore a scenario: A number of years ago you took advantage of a great opportunity and purchased real estate at a great price. Today, with increasing rents and market growth, your equity value has increased tremendously.

At that time, you moved quickly and everything is in your name or you put it into a holding company, or worse still, you used your operating business to purchase. Now at 55 years of age or older, you are thinking about the future. What if something happens to you? What if you wanted to leave the real estate to your children or grandchildren?

It’s a lot to consider. In Canada, there is a deemed disposition on death, and unless you have a spouse (this delays things until their death), there will be a deemed capital gain on the difference between the adjusted cost base (purchase price plus money put in) and current value. This means the kids will need to find the funds to pay the tax, and may be forced to sell the asset to deal with the tax. This is an unfortunate end when your wishes were to keep the property and have it generate money for the family.

What if it’s in a holding company where you own the shares? Same result on the share value, and worse because it can lead to double taxation. There is a deemed disposition of the shares of Holdco on death, however, Holdco does not have a deemed disposition of

the assets in it. You might end up having to plan and mitigate the tax through proper estate planning (such as pipeline planning, loss carry-back planning and life insurance).

The big question is: What to do? Can it all be reorganized to provide the most tax effective and protective result? The answer is yes. It will not be as perfect as doing it properly the first time, but you can certainly limit your exposure on all fronts.

The interesting piece is that for those who are looking to invest, a lot of the same principles will apply to save you grief later.

The first thing you need to do is speak to your accountant and find out if they have a knowledgeable tax department capable of sophisticated tax planning, and the same applies to your lawyer. If your accountants have these services, find out why they have not discussed this with you before being prompted. Your trusted professionals should be proactive.

Here’s an example that will give you an idea of what can be done with the right support.

Patrick is 55 years old and married to Sherri, with three children all over 18 years of age. When he was 30, he purchased, in his own name, a plaza in Richmond Hill. For the last 25 years, he has been paying down the mortgage and increasing the rent he charges tenants. The building has been well maintained and has increased in value by $4 million. He worries what will happen in the event of his death, and has sought professional help to reorganize his affairs.

The first thing that will happen is that there should be a thorough review of all of Patrick’s affairs, and then a plan will evolve. This might include

using Section 85 of the Income Tax Act to transfer Patrick’s Plaza to a holding company (“Holdco”) on a tax-free basis. In that scenario, when the dust settles, Patrick would own a special kind of share in Holdco that has a frozen value, and perhaps a family trust would own the common shares. What this does in its most simple form, it allows Holdco to redeem a percentage of Patrick’s special shares annually. The more that are redeemed, the less tax will be payable on Patrick’s death. In the meantime, the future gain is accruing to the benefit of the trust and its beneficiaries.

As noted above, contemporaneously with the “freeze,” you might consider that a discretionary family trust be established with Patrick and Sherri as trustees, with both of them, all the children, future descendants and certain corporations, as discretionary beneficiaries.

Tax and succession planning for real estate investments requires integrating professionals who are knowledgeable and capable of providing practical advice tailored to the situation. It’s better to start properly, in order that you will save money in the future. Planning is everything.

HARBOURTOWN VILLAGE

SILVERGATE HOMES’ RARE ENCLAVE NEAR LAKE ERIE’S SHORES

Fort Erie offers visitors and homeowners alike the best of quiet, beach town charm and warm community living with superb access to big city amenities. So, it’s no surprise that the town is now on the radar for many couples, families and downsizers choosing to escape urban hustle and bustle to set down roots in scenic, relaxed Niagara.

There may be no better opportunity to make Fort Erie home than Harbourtown Village at Waverly Beach, by award-winning Silvergate Homes. One of Niagara’s most accomplished homebuilders with a 40-year track record of quality and service, Silvergate is well known locally for building upscale communities in unique locales.

Over the years, the family-owned company has been building quality homes in thoughtfully curated communities throughout Niagara.

Harbourtown Village is now poised to be the jewel in the Silvergate Homes’ portfolio of luxury developments. The community comprises a limited collection of townhomes and single-family homes, both options offering bungalow and two-storey designs.

It’s in a secluded area along Lakeshore Road, between historic Fort Erie and popular Waverly Beach (just one of many beaches that dot the Lake Erie shoreline – Fort Erie has more waterfront than any other municipality in Niagara.)

The location is exceptional, and Silvergate expects considerable homebuyer interest. The homebuilder’s nearby Amuse by the Lake community sold out in a matter of weeks in 2017. “Our homebuyers were absolutely thrilled to move to such a unique location,” says John Passero, president of Silvergate

Homes. “With Harbourtown Village, we’re excited to recreate such an opportunity all over again and welcome people to this awesome beachfront community.”

Fort Erie is home to dozens of major retail, restaurant and banking brands, making every day errands easy and convenient. Starbucks, Taco Bell and A&W all opened recently near the local Wal-Mart. Winners is also new to town, located near Canadian Tire. And there’s even specialty retailers, like Picard Peanuts, just across the street from Sobey’s.

For shopping options beyond everyday errands, Niagara Falls and St. Catharines are only 20 and 30 minutes away, respectively, with big box stores and major shopping malls including the Outlet Collection at Niagara, the Pen Centre and Canada One Outlets.

Fort Erie’s growth in recent years was a key factor in the siting of the new South Niagara Hospital, with groundbreaking targeted for later this year. The state-of-art-facility – to be the biggest in Niagara by square footage – will be built about five minutes away from Fort Erie’s boundaries and about 15 minutes from the Harbourtown community.

A thing that sets Fort Erie apart from almost every other small Ontario community is its proximity to a major U.S. city. Buffalo is just a hop, skip and jump away. With the Peace Bridge now reopened after a long pandemic-driven shutdown, Fort Erians are eagerly returning to their cross-border traditions. Buffalo offers a whole new world of entertainment, professional sports, skiing, arts and culture, shopping – and, of course, chicken wings.

When you live in Fort Erie, you’ll definitely appreciate the convenience and cost-effectiveness of flying out of Buffalo International Airport, whether to sunny Florida, the bright lights of New York City or a myriad of other

destinations. It’s a smaller and much more easily manageable airport than Pearson International, but still offers an excellent variety of flights.

While Harbourtown Village is just minutes away from the Peace Bridge, it’s still secluded and surrounded by nature. It’s merely steps away from the 24-km Friendship Trail – linking Port Colborne to Fort Erie – which in turn connects to the lake-to-lake Niagara River Recreational Trail. Churchill called this stretch “the prettiest Sunday drive in the world.”

With such enjoyable local amenities, it’s definitely easy to stay active in Fort Erie. And if you’re a water enthusiast, look no further because the community is a paradise for boaters either docking at the Niagara Parks Marina or set to water from one of many public boat launches. Fishing aficionados too are often seen casting their lines from a number of spots along the river’s shore.

Silvergate Homes brings Harbourtown Village to life – an upscale lakeview neighbourhood

with a perfect synergy of modern design and small-town charm. Passionately designed, Silvergate fuses striking exteriors, unique lines and exceptional spaces. The homes at Harbourtown Village are a testament to superior craftsmanship and true luxury living.

A winner of more than 30 builder awards for excellence, design, marketing and environmental stewardship, Silvergate Homes is a Tarion Warranty Corp. builder and RenoMark contractor.

Silvergate’s latest accolade, announced in April 2023, was the Niagara Home Builders’ Association (NHBA) Award of Excellence for the Most Outstanding Condo/Townhome up to 1,500 sq. ft. for Village on the Twelve, nicknamed Eclectic Dream.

Site servicing at Harbourtown will be commencing shortly, with its sales office opening this June. Register today to stay up to date on this exciting new opportunity.

Visit silvergatehomes.com for more details.

Opening to the public on Saturday, June 17. Be sure to register for updates for this exciting community.

FIND YOUR DREAM HOME IN

FIELDGATE’S SIGNATURE GTA COMMUNITIES

Fieldgate Homes has been shaping the southern Ontario landscape for more than 65 years, with its award-winning master-planned communities and residences families have cherished for generations. Superior construction, innovative designs, unmatched attention to detail and attentive customer service are all hallmarks of the company’s excellence. Every home is designed to reflect the contemporary needs and wants of the homebuyer through consistent community engagement –and the assurance that when you own a Fieldgate home, you are family.

Fieldgate Homes is now open for purchasing by virtual sales appointments across the GTA. You

can connect with sales teams by phone, video chat or email for a secure and convenient homebuying experience. Teams are waiting to help you find your perfect Fieldgate home. Explore these featured communities and contact the company today.

THE CRESCENTS: BRAMPTON

The Crescents is now open –freehold townhomes and singles Experience a master-planned community that surrounds you with Brampton’s finest at The Crescents. A collection of 30-, 38- 45- and 50-ft. singles and freehold townhomes – on mostly crescent streets – just steps from Conservation Drive Park and Heart Lake Conservation

Park. Immerse yourself in the city’s unmatched urban amenities, schools and services. Forge new connections with the convenience of Ontario’s fastest transit network, or stroll through the incredible greenspace with woodlands, parks and trails. Find the perfect place for your growing family in the city, against a vibrant backdrop of culture and energy.

Register now at fieldgatehomes.com.

IMPRESSIONS: NEW KLEINBURG

New Kleinburg is now open –one- and two-car garage freehold townhomes

New Kleinburg is a community of inspired family residences in

a beautiful setting just moments from the heart of historic Kleinburg. With the Hwy. 427 extension just minutes away, a new community school and excellent urban amenities close at hand, life in Kleinburg has never been more convenient. Discover a remarkable collection of expansive one- and two-car freehold townhomes in this beautiful masterplanned community.

Register now at fieldgatehomes.com.

AJAX: ATOWNS

Ajax final release – urban townhomes

The final release of stunning urban townhomes at the aTowns Park Collection in Ajax is now open. At Bayly Street and Salem Road, discover new family-sized residences backing onto open greenspace, a series of parkettes, sports court and more all connected by winding walking trails weaved throughout. Better still, live surrounded by modern amenities and mere moments to Lake Ontario. Get the most out of Ajax’s bustling downtown area and enjoy great shopping, tasteful dining, convenient GO Transit, easy access to Hwy. 401 and so much more all nearby.

Register now at fieldgatehomes.com.

SHELBURNE: EMERALD CROSSING

Shelburne final release – 36- and 40ft. singles

The final release at Emerald Crossing is now open, discover a beautiful country landscape surrounded by every modern convenience imaginable in Shelburne’s most anticipated new home community. Enjoy a collection of 36- and 40-ft. singles available now just minutes from big brand outlets, remarkable restaurants, breathtaking greenspaces, ski hills, golf courses and so much more. Shelburne has been Canada’s second-fastest growing municipality, so there’s no better time to get in on its best new home opportunity.

Register now at fieldgatehomes.com.

PICKERING: SEATON

Seaton – semis, 30- and 36-ft. singles, coming soon

Enter a serene natural landscape that merges with the convenience of big city amenities at Pickering’s awaited Seaton community, coming soon. Live at the nexus of classic and contemporary with a remarkable collection of semis, 30- and 36ft. singles in a skillfully designed community setting. This new community truly has something for everyone with Pickering Town Centre, beautiful Lake Ontario, shopping, greenspaces, restaurants, Toronto’s eastern border and so much more just minutes away.

Be first to own by registering now at fieldgatehomes.com.

MILTON: VALLEYLANDS OF SIXTEEN MILE CREEK

Coming soon to Milton – executive 30-, 36- and 43-ft. detached singles

Introducing executive riverside living in a natural enclave setting with Valleylands of Sixteen Mile Creek, coming soon to Milton. Take advantage of your rare opportunity to own 30-, 36- and 43-ft. detached riverside residences with lots backing onto Sixteen Mile Creek. Moments to southern Ontario’s most acclaimed golf courses and protected greenspaces, retail and restaurants, schools, services and access to the most convenient transit options, embrace a lifestyle unlike any other in Milton.

Register now at fieldgatehomes. com for exclusive updates and priority purchase opportunities on Valleylands of Sixteen Mile Creek.

WEST WHITBY: WHITBY MEADOWS

Grand Opening coming soon – new release of freehold townhomes, semis and singles

A new release is coming soon with the Grand Opening of Whitby Meadows Phase 3. Take advantage of spectacular residences in one of the GTA’s most popular communities with all-new townnhomes, semis and 36-

and 42-ft. detached designs. Find a master-planned community offering west Whitby’s best lifestyle near shopping, restaurants, Iroquois Park Sports Centre, Whitby GO Station, Heber Down conservation area, excellent schools and more.

Register now at fieldgatehomes.com.

STOUFFVILLE: CITYSIDE

Coming soon – Grand Opening of 36- and 40-ft. singles

Make your dream home come true in an incredible community setting just moments from Stouffville’s best amenities. Featuring a new release of 36- and 40-ft. singles, embrace city sophistication and country charm from an ideal neighbourhood located close to Markham, Hwys. 404 and 407 and the Stouffville GO Station. Register now at fieldgatehomes.com.

NORTH OSHAWA: DREAMSCAPE

Register for the Grand Opening of townhomes, 30-, 36- and 42-ft. detached singles

Enjoy affordable living in north Oshawa with the incredible residences of Dreamscape now open. This highly anticipated new home community offers a superb mix of expertly designed and crafted townhomes, 30-, 36- and 42-ft. singles moments to the best modern amenities Durham has to offer. Big box stores, bespoke boutiques, delicious dining, great schools, trails and conservation areas await those who call Dreamscape “home.”

Register now at fieldgatehomes.com.

A NEW CONDO COMES TO… MERRITTON IN

Located in St. Catharines’ Merritton neighbourhood, Silvergate’s new condominium, Merritton Mills on Hastings, near Glendale, is an opportunity to get in on the changing face of an upand-coming community.

Merritton, with its long-standing roots in the neighbourhood, is rapidly becoming a highly desirable place to live. Its proximity to South St. Catharines and its many amenities, make it ideal for families, as well as singles and retirees. It also provides a smart investment opportunity

ST. CATHARINES

due to its proximity to the Pen Centre, downtown core, hiking and biking trails, Brock University and Niagara College.

In the first phase of this exciting new community, Silvergate will build a 71-suite midrise condominium, comprised of one- and two-bedroom suites. Suites are larger than the average, in a range of 800 to 1,200 sq. ft. The Residences of Merritton Mills is designed by Jason Pizzicarola Design Architects Inc. with interior design by BE Burgess and Leslie Landolt Designs. Merritton Mills ticks

all the boxes of modern living. Its location in Merritton is exceptional. It’s a short walk to neighbourhood restaurants and shops, a quick drive

“

”

... Merritton remains a distinctive community within the larger city of St. Catharines.

to Hwy. 406 and the Pen Centre and easily accessible by transit.

The condominium offers a roster of building amenities that include underground parking, storage lockers, co-working space, a common area/lounge, a rooftop lounge with barbecues, a pet washing station, fitness centre, party room with kitchenette, bike storage and parcel room.

WHY MERRITTON?

Merritton is a small hamlet that became incorporated into St. Catharines in 1961. It has always been a very distinctive community; with a proud history of mills and industrial prosperity and an important role in establishing the early iteration of the Welland Canal.

Today, the former mills, with their heritage bones, mostly operate as hospitality places, but Merritton remains a distinctive community within the larger city of St. Catharines. Located just minutes to the Pen

Centre and less than half an hour from Niagara, Merritton offers its own brand of charm. Contributing to its evolution, The Residences of Merritton Mills is destined to appeal to people who enjoy living near elements of the past as they set about living their best life.

Surrounded by wineries, the lures of Niagara, the conveniences of the Pen Centre just a few minutes away, and all the urban amenities of St. Catharines, Merritton Mills offers the ideal location for people seeking a contemporary condominium in a walkable, shoppable neighbourhood.

Like St. Catharines, which evolved to become a place of hip cafes and restaurants, Merritton is gracefully and gently transforming into a place to live a uniquely urban experience.

Developed by Silvergate Homes, Merritton Mills reflects the carefully nurtured reputation for exceptional quality and a commitment to customer service embodied by Silvergate. For more than 35 years, the Passero family has been building and renovating homes in the Niagara region and beyond. Founders of Silvergate Homes, Vito and Victoria Passero, along with their three children all share the same passion and pride for the family business.

Silvergate Homes is a winner of more than 40 builder awards for excellence, design, marketing and environmental stewardship. The company is a Tarion Warranty Corp. builder and RenoMark contractor. This past April, Silvergate Homes was awarded the Niagara Home Builders’ Association (NHBA) Award of Excellence for the Most Outstanding Condo/Townhome up to 1,500 sq. ft. for Village on the Twelve, nicknamed Eclectic Dream.

Merritton Mills is scheduled to open for sales this summer, operating out of a Presentation Centre on site at Merritt Street (off Glendale). Interested parties are encouraged to register their interest to receive information and updates.

4 THINGS TO KNOW ABOUT BUYING AN INVESTMENT PROPERTY

JESSE ABRAMS

In today’s economy, it’s a natural instinct for people to seek additional sources of income. For some, this may include buying an investment property. Not only is purchasing a second property a monumental step toward achieving your financial goals and generating additional income, but it’s also a big responsibility that comes with a lot of considerations. It’s important for buyers to ensure they’re educated and ready to move forward with the purchase – especially if they hope for it to be a long-term investment opportunity.

Here are a few pointers to keep in mind:

BE CLEAR ON YOUR INVESTMENT GOALS

What many buyers don’t necessarily know is that there are several different real estate investment strategies. From fix-and-flip to buy-and-hold to wholesaling, it’s important to educate yourself on the options available to ensure you’re making an investment decision that aligns with your goals.

For example, a fix-and-flip strategy involves buying with the intention to renovate and resell quickly for a profit. If your goal is to make money at a faster pace, this could be the option for you. On the other hand, a buy-and-hold strategy involves keeping the property in your portfolio long-term, and renting it out over time. Ultimately, the choice you make is all dependent on the type of property you’re looking to buy and the timeframe in which you want to benefit from the investment.

Therefore, getting clear on these elements should be your very first step.

ENSURE THAT YOU ARE FINANCIALLY PREPARED WITH CONSIDERABLE SAVINGS

Purchasing an investment property is different than buying your first home. Although the intent is to gain additional income, an investment property actually adds to your financial obligations in the beginning. Buyers should keep in mind that they will be required to make a minimum down payment of 20 per cent, and carry the mortgage of the property until they find a qualified renter. You also want to factor closing costs and other expenses into the budget – as well as any repairs and ongoing maintenance.

Not to mention, if you still have a mortgage on your primary home, you’ll need to budget for expenses there, too. In some cases, buyers may be able to use their home as a potential financing source to borrow up to 80 per cent of their current home value to help pay for the investment property. It’s best to speak with a qualified mortgage specialist such as those at Homewise, who can walk you through the process and educate you on all of your options.

BE READY FOR THE ADDED RESPONSIBILITY

It’s easy to get lost in the excitement of buying an investment property and generating an additional source of income. However, buyers need to remember that it also comes with more responsibility and commitment. If you’re buying a rental property, you’ll be required to find qualified tenants and maintain the upkeep of the home – as well as any repairs or

potential damages that arise. Even if your goal is to fix and flip a home, you’ll still have added responsibilities on your hands, such as balancing budgets, overseeing contractors and managing trade schedules. No one said it was easy, but if you’re prepared, it’s worth it.

WORK WITH A TEAM OF QUALIFIED PROFESSIONALS

Get in touch with a professional real estate agent and mortgage specialist who can walk you through the steps of buying an investment property and securing the best financing option. The process may be slightly different than when you purchased your first home, which is why it’s important to be informed on all of the key details before moving forward. Be sure to work with a real estate agent who is knowledgeable and can help you find a property in the right location, at the right price. For example, the Homewise real estate team often advises buyers that in order to attract high-quality tenants, you must focus on neighborhoods with nearby schools, hospitals, public transportations and a thriving retail environment.

Buying an investment property is without a doubt a great opportunity that comes with favourable returns. However, it’s crucial for buyers to understand what it takes and what’s involved before making any big financial decisions.

Jesse Abrams is Co-Founder at Homewise, a mortgage advisory and brokerage firm. thinkhomewise.com

DEDICATED TO EXCELLENCE

THESE BUILDERS ARE PROUD OF THEIR COMMITMENT TO EXCELLENT CUSTOMER SERVICE AND CREATING GREAT COMMUNITIES.

5 BASIC PRINCIPLES OF

SUSTAINABLE INTERIOR DESIGN

by LISA ROGERS

Doing our part to help the environment is more critical than ever, so how can we reduce, reuse and recycle our way to more sustainable interior design? It’s easier than you think.

In principle, sustainable design aims to reduce negative environmental impact through thoughtful design.

This means buying more energyefficient products, reducing waste and using limited resources throughout their life cycle. It’s considered one of the fastest-growing segments in the design industry – often referred to as Green interior design – and it encourages more of us to create a sustainable space that helps save our environment. It can sound overwhelming when we think about saving the planet with our actions, but there are things we can do to achieve (better) sustainable interior design.

DESIGN FOR ENERGY EFFICIENCY

Energy consumption is a significant contributor to climate change. There is plenty we can do in our own homes to improve energy efficiency by looking at the amount of energy we need for heating, lighting, and running our appliances. Since most

heat escapes through windows, your installed windows must be high quality and provide good insulation. Window coverings also keep both cold air and the sun’s heat outside. Installing home automation (often called Green gadgets) makes it possible to control heat and lighting systems remotely – this will help you use your home’s energy more efficiently and economically. Think about intelligent bulbs, the Nest Learning Thermostat, or Green apps that you can download on your phone and help monitor your energy use.

PAINT WITH THE RIGHT COLOURS

To save on energy spent on lighting, plenty can be done in picking the right colours. Lighter colours reflect more light while darker walls (and furnishings) do the opposite and require more artificial lighting to

brighten up the space. Also, this is a neat trick: Reflective surfaces, such as glass, increase the amount of light in a room by bouncing around, so opt for glass tables or extra mirrors in your room to capture all of that glorious natural light. Most paints contain toxic fumes and chemicals, so try and opt for paint brands that are low or zero-VOC and that don’t harm the environment.

OPT FOR NATURAL TEXTILES

I love natural textiles in interiors, and they’re continuing to be a major theme in this season’s design ethos. Eco-friendly and naturally-sourced fabrics are all the rage and can be recycled, as can vintage woods, banana fibre, Afghan wools, hemp, seagrass, burlap, raw cotton or linen. Not only can they come in a variety of different textures, but they are also capable of being ethically sourced. Beyond materials for furniture or furnishings, organic materials can also be used in mattresses, upholstery or pillows. This can reduce the production of synthetic materials that sadly end up in our landfills.

BUY LOTS OF INDOOR PLANTS

It is aesthetically so pleasing to have a home filled with greenery, and plants work double-duty in that they give oxygen and eliminate harmful substances from the air. Plants also provide a natural look and freshness in your home. NASA’s Clean Air Study found a number of air-purifying plants that can detoxify your home from the airborne toxins, dust and germs found in a variety of household products, materials and furniture. To make that level of difference to the air quality inside your home, you would need a significant number of house plants to work together to clean the air (in the ballpark of around 90). Yet, with houseplants becoming an interior design trend that looks like it’s here to stay, we might as well choose one that will go partway to improving the air we breathe, even if it’s not all of it. English ivy, snake and spider plants and chrysanthemum help filter out toxins, including ammonia and benzene found in varnishes, floor finishes and detergents.

INVEST IN VINTAGE FURNITURE

I love vintage furniture, and when we are making more efforts to be more mindful of the planet, we should really be aware of the furniture and decor pieces we choose. When we

repurpose an old-found treasure, we immediately reduce waste, overproduction and our footprint – all good things. I know buying a brandnew piece can be exciting, but so can sourcing and hunting for that vintage piece full of legacy and sentimentality. Browse online marketplaces or go the old-fashioned route and head to some estate sales or vintage markets. I guarantee you will stumble upon some unique finds that will give your home a new look.

Lisa Rogers is Executive Vice-President of Design for Dunpar Homes (dunparhomes.com). Lisa has shared her style and design expertise on popular television programs such as Canadian Living TV, House & Home TV and as a regular guest expert for fashion and image, health and wellness and design on CityTV’s Cityline. Follow Lisa’s blog at craftedbylisa.ca

on FIND YOUR NEXT HOME

The latest properties in the Greater Toronto Area to keep your

eye

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

MAPS

Locate properties using the map on the following page

FIND YOUR NEXT HOME

BURLINGTON /WATERDOWN

1. National Homes in Burlington, 484-490 Plains Rd. E. nationalhomes.com

GRIMSBY

2. Century Condos Main St. East & Baker Rd. S. desantishomes.com

HAMILTONWENTWORTH

3. Soho Homes at Barton & Glover Barton St. & Glover Rd. losanihomes.com

4.Highland Park &Central Park: Midtown & Soho Upper Red Hill Valley Pkwy & Rymal Rd. losanihomes.com

KITCHENER/ WATERLOO

5. Wallaceton Huron Rd. & Fischer-Hallman heathwood.com

LONDON

6. RiverBend Golf Community

2200 Jack Nash Dr. sifton.com

7. Victoria On The River Sheffield Blvd. & Commissioners Rd. E. sifton.com

8. Caverhill Clarke Rd. & Kilallay Rd. sifton.com

9. Hudson Park Colonel Talbot Rd. & Pack Rd. sifton.com

10. Liberty Crossing Wonderland Rd. S. & Hamlyn St. sifton.com

11. Middleton Wharncliffe Rd. & Exeter Rd. sifton.com

MILTON

12. The Valleylands Mayfield Rd. & Chinguacousy fieldgatehomes.com

MISSISSAUGA

13. Whitehorn Woods 1240 Britannia Rd. W. nationalhomes.com

14. Streetsville Centre Mill St. & Queen St. S. dunparhomes.com

NIAGARA REGION

15. Lusso Urban Towns Martindale Rd. & Grapeview Dr, St. Catharines. lucchettahomes.com

16. Portview Estates Simcoe St. & Canal St. silvergatehomes.com

17. Woodview at Vista Ridge 4008 Mountain St., Beamsville losanihomes.com

18. Davis Heights 1535 Haist St, Pelham. lucchettahomes.com

Niagara Region

19. Grimsby Waterfront 398 N Service Rd. losanihomes.com

20. Lincoln Estates Lincoln Ave. & King St. losanihomes.com

21. The Residences at Hunters Pointe 71 Kyntre Trail lucchettahomes.com

22. Village on the Twelve 21 Willow Bank Common St. silvergatehomes.com

23. Luna Hwy. 406 & 56, Thorold silvergatehomes.com

24. Harbourtown Village Fort Erie silvergatehomes.com

25. Merritton Mills St. Catherines silvergatehomes.com

OAKVILLE

26. The Greenwich at Oakvillage Trafalgar Rd. & Dundas St. East branthaven.com

27. Bronte Meadows Bridge Rd & Warminster Dr. flatogroup.com

28. Upper West Side Condos 2 351 Dundas St. East branthaven.com

29. Trafalgar Ridge River Oaks Blvd. & Namron Gate dunparhomes.com

30. The Villages of Oak Park Trafalgar Rd. & Dundas st. E. ballantryhomes.com

31. West & Post 2714 Westoak Trails Blvd. branthavenoakville.com

32. La Réserve 153 Reynolds St. rosehavenhomes.com

WELLAND

33. Edgewater Trails Daimler Pkwy & Magnolia Ln, ballantryhomes.com

WEST REGION

34. Boulder Creek Cleaver Rd. & King Edward St. sifton.com

35. St. George Village Concession 2 & Woodhill Rd. losanihomes.com

36. HarrisView 34 Hollingshead Rd. sifton.com

37. Brant West 562 Shellard Ln losanihomes.com

38. Magnolia Trails Modeland Rd. & Michigan Lane sifton.com

39. Rosewood Nissouri Rd. & Thorndale Rd. sifton.com

40. Soleil St. Clair Corunna sifton.com

41. xpressions & Riverbank Estates 1021 Rest Acres Rd., Paris losanihomes.com

42. Knightsbridge Graff Ave. & Mornington St. sifton.com

43. Hazelwood on the Grand Hardy Rd. sifton.com

44. Cottonwood Dingle St. sifton.com

45. Hawthorne Park Oakwood Dr. & Byron Ave. sifton.com

46. Lakeside Landing Wellington 411 Main St., Wellington royalcliffhomes.com

47. Edgewood Suites 270 Hagan Street East, Dundalk flato.com

48. Riverside at Hunter’s Point 300 Daimler Pkwy., Welland lucchettahomes.com

The latest properties in the Southwestern Ontario Area to keep your eye on

PORT HOPE/

ORO MEDONTE

4. Forest Heights Estates 2 Diamond Valley Dr., democrathomes.com

HORSESHOE VALLEY

5. One Twenty Fonthill Condominium Residences North Pelham at Hwy. 20 mountainview.com

NORTH REGION

3. Midhurst Valley 1296 Carson Rd. geranium.com

6. Craighurst Horseshoe Valley Rd. & Hwy. 93 georgianinternational.com

COLLINGWOOD

7. Mountain House at Windfall Mountain Rd. & Crosswinds Blvd. georgianinternational.com

13. Collingwood Maple & Sixth Street georgianinternational.ca

14. Shelter Cove 15 Cricklewood Cres., Nanticoke sheltercove.ca

SHELBURNE

8. Emerald Crossing Hwy. 89 & Hurontario St., fieldgatehomes.com

ORO MEDONTE

9. Braestone Horseshoe Valley 3246 Line 9 North, georgianinternational.com

BEETON

10. GreenRidge & Beeton Village 41 Main St. W. flatogroup.com

DUNDALK

11. Edgewood Greens Hwy. 10 & Main St. East, flatogroup.com

12. Edgewood Suites 270 Hagan St. E., Dundalk edgewoodsuites.ca ORILLIA

15. Professor’s Walk Diana Dr. & University Ave. democrathomes.com

OWEN SOUND

16. Greystone Village 1800 2nd Ave. E. flatogroup.com

4. Belmont treasurehill.com PETERBOROUGH

5. Parklands & The Condo Arbour Villas 1224 Chemong Rd. masonhomes.ca

COBOURG

6. Port Hope Lakeside Village 415 Lakeshore Rd. masonhomes.ca 7. Kingswood Cobourg 425 King St. E. masonhomes.ca

1. Hampton Heights Essa Rd. & Ardagh Rd. stateviewhomes.com

2. FOUR10 Yonge 410 Yonge Street masonhomes.ca

PARRY SOUND/ MUSKOKA/ HUNTSVILLE

PROVINCIAL GOVERNMENT

TAKES

FURTHER STEPS TO ADDRESS

HOUSING SUPPLY

When the Ontario government introduced Bill 97, the Helping Homebuyers, Protecting Tenants Act, earlier this month, it continued to honour the pledge it had made as part of its Housing Supply Action Plan to have annual housing legislation aimed at addressing housing supply and affordability in the province. At the same time, the government announced a consultation on changes to the provincial policy statement (PPS), the document that governs land use planning in Ontario. Bill 97 and the PPS consultation are significant steps toward addressing the very complex problem of housing supply and affordability.

As I often point out, the housing challenges in our province and region are the results of misguided policy decisions made by past governments, and can only be addressed through policy that enables – rather than hinders – the building of new housing. The recently announced consultation proposes to combine the PPS and another policy document that governs how and where housing will be built – the Growth Plan for the Greater Golden Horseshoe – into a single document that prioritizes housing. If adopted, this change will represent a significant shift in planning policy that will simplify the addition of new housing.

Bill 97 includes two measures that would facilitate the addition of housing supply. The first is a

proposal to make it easier to convert land zoned for employment uses to residential uses, while protecting true employment spaces through a new, modern definition of employment. The other is a proposal to provide greater flexibility for municipalities to expand their boundaries to accommodate future growth. As housing supply and affordability are contingent on land supply, this change would help deliver muchneeded housing.

As its name implies, the legislation also includes new protections for tenants and new-home buyers. The first proposal seeks to protect tenants against abuse and evictions – vital in a time of tight rental supply and rising rents – while recognizing that property owners must be able to maintain and renovate their properties. The second proposal introduces a cooling-off period on purchases of newly built freehold homes. Our industry looks forward to

participating in the consultations on this proposal.

With the introduction of Bill 97 –the provincial government’s fourth housing bill under the Housing Supply Action Plan – and the announcement of the PPS consultation, the government should be applauded for continuing to take positive steps to address housing supply, bring affordability back to the province and enable more Ontarians to buy the homes they need.

Dave Wilkes is President and CEO of the Building Industry and Land Development Association (BILD), the voice of the homebuilding, land development and professional renovation industry in the GTA. For the latest industry news and new home data, follow BILD on Twitter, @bildgta or visit bildgta.ca.

DAVE WILKES

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