Calgary New Condo Guide - January 2013 by NextHome

Jan 11 - Feb 8, 2013 Volume 16 Issue 01

love where you live

inside this issue

001-CCG_Cvr_Jan 11.indd 1

UNDERSTANDING YOUR MORTGAGE OPTIONS

THE HOTTEST HOME DéCOR Trends FOR 2013

MAKING SENSE OF THE HOMEBUYING PROCESS

1/4/13 1:31:02 PM

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Final Phase Release February 26th ce la n ep tio Fir Op

Panatella Blvd

Tra il ot efo De

SALES CENTRE

Harvest Hills Blvd

Shopping Panatella Hill

Beddington Trail

Stoney Trail

Country Hills Blvd

The Alberta New Home Warranty Program

www.homeTRADER.ca | VOLUME 16 ISSUE 01 | NEW CONDO GUIDE 05

TABLE OF CONTENTS

January 11, 2013 to February 8, 2013 VOLUME 16 ISSUE 1

STONECROFT’S AUBURN BAY For discerning condo buyers

COLUMNS, NEWS & FEATURES 008 EDITOR’S NOTE COLUMNISTS

030 CONTEMPLATING CONDOMINIUMS Replacements and upgrades: Let common sense prevail BY LINDA PALFI

032 FUNDAMENTALLY SPEAKING Take a long-term view when buying your home BY WAYNE KARL

044 MONEY MATTERS January is “make do month” – the time to stretch each dollar BY GAIL VAZOXLADE

052 SCRUMPDILLYICIOUS Whip up some hearty penne with Italian sausage, peppers and basil BY LESLIE STYLES

IN THE NEWS

023 CHBA AWARDS CHBA announces the 2012 National Sam Award finalists

028 CONDO NEWS Luxurious rooftop fitness club and lounge launches at MARK on 10th 031 HOMEBUYING CREA launches new tool for homebuyers FEATURES

040 YOUR MORTGAGE What you should think about when financing your home 048 DESIGNER TOUCH A look at the hottest home décor trends for 2013 BY ERICA GELMAN

038 CONDO PROFILE Cardel Lifestyles launches sales in final Panorama West building BY HEATHER RYAN

046 CONDO PROFILE Excel’s Heartland Townhomes have a wide appeal BY HEATHER RYAN

053 HOMEBUYERS’ HELP Condo Buyers’ Resource Section 056 CONDO HUNTER’S CHECKLIST Carry this list with you when shopping for your condo 057 INDEX

HOMEBUYERS’ HELP

PROJECT LOCATION MAPS

009 COVER STORY Stonecroft’s Auburn Bay: a premier location in a lake community

013 Southeast Map 019 Southwest Map 027 Inner City 037 Northwest Map 047 Satellite Communities 051 Northeast Map

BY HEATHER RYAN

014 CONDO PROFILE Copperfield Park launches its final phase BY HEATHER RYAN

14 Vice-President, Wall2Wall Media

Jacqueline Hill Editor-In-Chief

Susan Legge Editor

Janine Druery Lydia McNutt (on leave) Art Director

Daiana Garay Design Editor

Yanic Simard Media Consultant

Natalie Houghton 587.226.1313 Like us on facebook: search: CalgaryNewCondoGuide Contributing Editors

Wayne Karl Elisa Krovblit Silvana Longo Sara Duck (on leave) Production Manager

Bala Gnanapandithan Production Co-ordinator

Greg Van Sluytman Graphic Designer

Viosa Barileva

National Account Manager, Mediative

Paul Slizys PUBLISHED BY

2891 Sunridge Way N.E. Calgary, AB T1Y 7K7 COPYRIGHT 2012 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. Wall2Wall Media is a trademark of Yellow Pages Group Co. in Canada. ADVERTISING RATES

62 48

T 587.226.1313 email natalie.houghton@wall2wallmedia.com CIRCULATION 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.

EDITORIAL Submissions from interested parties will be considered. Please submit to susan.legge@wall2wallmedia.com

The views and data expressed by columnists do not necessarily represent those of the publication. The homeTRADER & Design are trademarks of Apax Partners LLP, used under license. Please recycle this magazine! Wall2Wall Media participates in the Partnerâ&#x20AC;&#x2122;s In Growth Reforestation Program through St. Joseph Communications. To date, Partners in Growth has planted over two million trees in parks, recreation and conservation areas, and other public spaces across Canada. Established in 1990, this program was started with Scouts Canada to help replenish the environment.

EDITOR’S NOTE

How much home

CAN YOU AFFORD?

SUSAN LEGGE

EDITOR-IN-CHIEF

Wall2Wall Media Susan.Legge@wall2wallmedia.com Follow me on Twitter at Twitter.com/SusanLegge Like us on facebook search: Condo Guide

There is increasing speculation as to whether households are taking on more debt than they can chew. If interest rates begin to rise from their historical lows, can you still manage those monthly payments? For example, the difference between a five-year term at a rate of 4.09 per cent and a variable rate of 2.15 per cent is almost $500 a month on a $400,000 mortgage with only five per cent down. When working with your lender, have them show you what you can afford at a higher rate, keeping in mind that you will have

less to finance at renewal time. Increase your payment frequency or make lump-sum payments throughout the year to further lower the amount you owe. The good news is mortgage rates look like they are going to stay put in the first part of 2013, but you can bank on rates rising eventually, even if it isn’t by much. Ensure you can afford the home you’re buying, regardless of mortgage rate speculation. A good lender will show you how. Ask your friends and family for a referral and get the facts.

Shop around for

THE BEST DEAL

JANINE DRUERY

EDITOR

Wall2Wall Media Janine.Druery@wall2wallmedia.com Follow me on Twitter at Twitter.com/JanineDruery

When I purchased my first home, I was a little overwhelmed by the financial side of things. I thought I had all of my ducks in a row. I got my down payment ready, made sure my credit report was sparkly and shiny, and did endless calculations to figure out what I could afford. But then it came time to get financing. I was quite surprised to learn about all that is involved. How would I get the best interest rate? Was it better to choose a bank or a mortgage broker? Should I go with a fixed- or variable-rate mortgage? While it took some time to make sense of it all, what I did learn is that it really pays to shop around. Don’t assume that because you’ve dealt with your local bank for years that they are going to give

08 NEW CONDO GUIDE | VOLUME 16 ISSUE 01 | www.homeTRADER.ca

you the best deal. Similarly, don’t assume your cousin’s friend who is a mortgage broker will offer the best arrangement. While you very well might get your best deal from either of them, you won’t know until you compare. We look for good deals on appliances, cars and the like. It only makes sense to do the same for what is (for most of us) the biggest purchase of our lives. So, get quotes from several financial institutions and mortgage brokers and compare interest rates and fees. And this goes for renewing your mortgage as well. Feeling like you’ve done your homework and received the greatest deal possible is deeply satisfying. And, of course, it can save you buckets of cash.

COVER STORY

Discerning condo buyers choosing

STONECROFT’S AUBURN BAY // BY HEATHER RYAN

DISCERNING CONDO BUYERS WHO DESIRE HIGHER-END FEATURES and a premier location in a lake community are discovering Stonecroft’s latest community in Auburn Bay. Consisting of four, four-storey condo apartment buildings, Stonecroft is currently selling suites in its first two buildings which are receiving great response from buyers. “Sales are going really well and we’re 60 per cent sold in Phase 1 so we’re really excited about that,” says sale representative Cheryl Donnelly, noting the strong sales also

prompted Stonecroft to release sales in Phase 2, where nine suites have already been sold. The start of construction on the site is “generating a lot of excitement because people can actually see the building start to take shape and, as a result, we’re seeing a lot more interest from buyers,” Donnelly says. “People love our higher-end features and finishing because they give that wow factor, eliminating the need to upgrade. Our spacious suites - most are 900 to 1000 sq ft - will appeal to a range of people from first-time buyers to www.homeTRADER.ca | VOLUME 16 ISSUE 01 | NEW CONDO GUIDE 09

professional couples and people looking to downsize.” “People also love the open designs, functional layouts and that there is no wasted space,” Donnelly says. “And the interiors present a contemporary feel, which is attractive to the younger buyers because they can be in the suburbs but enjoy the urban look.” There are 48 suites in each building and numerous models available to suit the differing lifestyles of today’s buyers, with a one-bedroom plan at a spacious 742 sq. ft., a two-bedroom plan at 928 sq. ft., and several two bedrooms with den or three bedrooms ranging from 905 to 1,008 sq. ft. Prices start at $211,500 plus GST for the one bedroom and $251,900 for twobedroom suites. Buyers will love the interior appointments that include nine-ft. ceilings, in-floor heating, wall10

“ People love the open designs, functional layouts and that there is no wasted space,” Donnelly says. hanging electric fireplaces (that actually throw heat) in the living rooms, large windows, tile floors in the kitchen, entry and bathrooms, and laminate flooring in the living room. Kitchens feature gorgeous quartz countertops, choice of custom cabinets, full-height tile backsplash, garburator, deep stainless steel sinks with contemporary fixtures and a stainless steel appliance package of fridge, stove, dishwasher and microwave with hood fan. There is also in-suite laundry that comes with the washer and dryer, gas line hookup for the barbecue on the balcony, and all window coverings are included. “Each suite comes with an underground parking stall, a storage unit and bicycle storage,” Donnelly says, and in the centre of all four buildings will be plenty of visitor parking. The site will also be extensively landscaped to compliment the surrounding community. “But the biggest draw is the location, being in Auburn Bay,” Donnelly says. “We’re literally right across from the hospital so residents can walk to work, and buyers have access to the lake.” Auburn Bay’s 43-acre lake includes a 13-acre beach and park with Auburn House, a year-round residents’ facility, as its centrepiece. The park features tennis courts, a water splash park, volleyball and basketball courts, two hockey pond surfaces and a toboggan hill.

“We’re also within walking distance to Seton’s huge retail development that includes a movie theatre complex, hotel and shopping district and have great access to Deerfoot Trail, Hwy. 22X and the eventual extension of Stoney Trail,” which is expected to be complete this year. For more information on Stonecroft’s Auburn Bay condos, visit the sales centre at the corner of Seton Boulevard and Auburn Bay Link, open Monday to Thursday 2-7 p.m., weekends and holidays, noon-5 p.m. Call 403.452.4059 or visit stonecroftauburnbay. com where you can take a virtual tour.

www.hometrader.ca | Volume 16 issue 01 | NEW Condo Guide 11

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COPPERFIELD PARK LOVE IT. LIVE IT. AFFORD IT.

TWO BEDROOM CONDOS* DELUXE TWO BEDROOM CONDOS* From the $180’s +GST From the $140’s +GST Titled parking stall included.

www.copperfieldpark.com 403.723.0094 www.homeTRADER.ca | VOLUME 16 ISSUE 01 | NEW CONDO GUIDE 13

condo profile

Copperfield Park launches final phase with amazing response // By Heather Ryan

he phenomenal response by condo buyers eager to make a home in the widely successful Copperfield Park continued in December with the launch of sales in Phase 5, the final phase. “We launched our final phase earlier than expected because the response to Phase 4 was better than we anticipated,” says Bryan Logel, sales and marketing manager for Brad Remington Homes, which is crafting Copperfield Park in southeast Calgary. “We wouldn’t normally launch a new phase in December as it is historically a slow time of year, but this launch has been a major success; we are incredibly happy with the response from people wanting to live in Copperfield Park.

14 NEW Condo Guide | Volume 16 issue 01 | www.hometrader.ca

“The momentum we’ve been building over the past two years has continued to roll right into this final phase,” he says. “We receive many referrals from people who bought and have moved into Phase 1 and Phase 2. Those who bought in the other phases are telling other people about what Copperfield Park has to offer. “The theme of ‘Love It, Live It and Afford It’ continues to be what our homes are all about,” he says. “We offer homes that are livable, that make sense, and people can envision themselves living here. Buyers are sophisticated and they want to love the home before they buy it, but they also want to afford it and not be cash poor. “Purchasers are really excited because our twobedrooms start at very affordable $149,900 plus GST, and we offer deluxe two-bedroom, two-bath models from $189,900 plus GST,” he says. “We also present great designs, high quality building specifications, eyecatching exteriors, titled parking and an appealing location in Copperfield.”

Its success is also being pushed along by the opening of the new South Hospital located just minutes away. “It’s having a major impact as people are looking for high quality, affordable product like ours close to work,” Logel says. “This is our last phase, so it’s the last opportunity for people to buy in Copperfield Park.” With the launch of Phase 5, buyers have a great selection of suites available with floorplans ranging from 600 to 970 sq. ft. in two- and three-bedroom layouts, which present open designs that are bright and modern. With the potential best of views and exposures in the entire development, buyers need to act quickly. Logel says they’ve designed the most efficient and functional condo floorplans in the city. Full-sized kitchens with expansive counter space, slab or mission-style cabinets that come in three different colour choices and four appliances – fridge, stove, dishwasher and over-therange microwave with hood fan – are all included. With this also comes in-suite laundry (with the washer and dryer included), perfectsized balconies for outdoor entertaining, a titled parking stall

and a private storage unit. As well, buyers can further personalize their home and choose from some optional upgrades such as a fireplace, granite countertops, air conditioning and hardwood flooring, to name a few. Copperfield Park is ideally located just off McIvor Boulevard near the BRT bus stops, grocery stores, restaurants and other shops and services. A new neighbourhood commercial site offering conveniences such as a Tim Hortons, a gas bar and other services is also being developed just steps away from Copperfield Park. With the completion of the 130 Avenue S.E. extension residents can enjoy improved access to Sheppard shopping, and they’ll also benefit from the completion of Stoney Trail by 2013. The location also provides easy connections to Hwy. 22X, Deerfoot Trail, MacLeod Trail and 52 Street S.E. For more information on Copperfield Park, visit the sales centre and showsuites at 279 Copperpond Common S.E., open Monday to Thursday, 2-8 p.m., and weekends and holidays, noon-5 p.m., or visit copperfieldpark.com, or call 403.723.0094.

marke t mar t s with

Jim Malner

It is never a “bad” time to buy real estate. Some times are just better than others as some opportunities are better than others. If you are looking for your first home then certainly “the earliest date possible” is the right time to buy. The reason is real estate creates wealth and therefore is beloved by those seeking financial security.

While economic windfalls or turmoil may swirl around you, owning a home is the most predictable path to increasing wealth through “equity creation” and “capital appreciation” due to economic growth and inflation. Over time, it’s difficult to lose on real estate purchased for your residential use. The forced savings effect of standard mortgages and 200+ years of economic data show that owning your home is still the best investment you can make in yourself and your future. While economic windfalls or turmoil may swirl around you, owning a home is the most predictable path to increasing wealth through “equity creation” and “capital appreciation” due to economic growth and inflation. As we approach the end of 2012, assuming that Mayan calendar fiasco doesn’t unfold as predicted, it’s time to look into the crystal ball and see what 2013 holds for new homes in the Alberta market and more specifically the major cities. Perhaps a place to start is with the news of the day which drives public opinion and therefore buyer behavior. Currently, there’s a lot of negative news in national media about the integrity of home and condo prices and some pretty “dark” commentary on price corrections (collapses) that may occur due to high household debt, a possible second recession due to the mess in Europe, The US fiscal cliff, the impact of a global slowdown on commodity prices and now, more Arab – Israeli conflict. Wow, with all that going on maybe those Mayans were onto something with just blowing the whole thing up and starting over. While these events will shape a great deal of economic reality in 2013 and provide some headwinds for Alberta’s economy, forecasts are for a real estate market only slightly slower than 2012. For 2012 most metrics that determine the health of the new home sector outperformed forecasts. According to CMHC, Alberta will see an increase in housing starts of about 23% over 2011 to a very 16 NEW CONDO GUIDE | VOLUME 16 ISSUE 01 | www.homeTRADER.ca

Time To Look Into The Crystal Ball - 2013

robust 31,800. For 2013 activity levels are expected to level, increasing just 1.2% to 32,200. Single family starts are projected to rise in 2012 by 15% to 17,600 units over 2011. 2013 sees these values move up a further 5% to 18,400 units with an increased bias toward move up housing and modest price growth. Multi-family starts have increased a staggering 35% in 2012 to 14,200 units. This rate of growth will slow in 2013 to 13,800 units while inventory gets absorbed. What’s most important if you’re looking to purchase in 2013 is that balanced market conditions are expected, which means only modest price increases of about 2%. What makes this even more compelling is the affordability of housing in Alberta. It’s in harmony with historical norms at approximately 30% of average household income. When this is compared with Toronto at 53% and Vancouver at almost 70%, housing in Alberta, be it Edmonton or even the slightly higher priced Calgary, looks like a steal. So 2013 still appears to be a great time to buy, all things considered. What will you buy? Well, that depends on you and your situation. There are excellent opportunities in Alberta’s multi-family market as an abundance of inventory has to find buyers. The Royal Bank has pegged Alberta as the #1 performing economy in Canada for 2013 and still with some of the most affordable housing. So, the sooner you buy, the sooner you get the time value of money and equity growth working for you. As history has shown, that’s the most predictable way to a better financial future – and let’s hope the Mayans were wrong on the time and date when making a smart real estate decision simply doesn’t matter. Follow CSG on Facebook or Twitter for regular real estate opportunities and updates. All of Jim’s columns are posted on CSG’s blog at marketsmarts.net.

Jim Malner is President of Consumer Strategies Group (CSG), Alberta’s longest serving, professional, real estate marketing consultancy with offices in Edmonton, Calgary and Vancouver.

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chba awards

chba names 2012 NATIONAL SAM AWARD FINALISTS

›S kymark Contracting Ltd., Torbay, NL: “Country Gardens Road” ›S tranville Living, Lethbridge, AB: “Ayr, Couleecreek” ›W hite Eagle Homes Ltd., Edmonton, AB: “The Blue Diamond, Allar Estates”

The Canadian Home Builders’ Association (CHBA) has announced the

SINGLE ATTACHED HOMES

›C itta Construction Ltd., Saanichton, BC: “The Pointe, Phase 3, Sunriver Estates” ›L ucchetta Homes Ltd., Welland, ON: “The Abbey, Ryan’s Walk” ›P rominent Homes Ltd., Calgary, AB: “50th Avenue Infill, Altadore” ›R inaldi Homes (Niagara) Inc., St. Catharines, ON: “Unit #2 Old Mill Lane - Old Mill Lane” ›S tarward Homes, Hamilton, ON: “The Bungalows of Ancaster”

finalists for the 2012 CHBA National SAM Awards, presented by Schlage and Trane. The awards celebrate excellence in new homes, home renovation, innovative technology and construction, outstanding presentation and marketing across Canada. Twenty-three CHBA National SAM Awards will be presented at the Association’s 70th National Conference on March 8, 2013 in Lake Louise, Alberta. “This year’s SAM Award theme – Awe – speaks to the ingenuity, imagination and creativeness that drives new home builders, renovators and developers to build homes and communities that are truly awe-inspiring,” says CHBA President, Ron Olson. “We take great pride in the achievements of our 2012 SAM Finalists.” The awards are given for projects of varying sizes in the following categories: New Home Awards (eight in total); Home Renovation Awards (five in total); and Marketing Awards (six in total). In addition, single awards are presented for Marketing Excellence; Green Home; Community Development; and, the Grand SAM, which recognizes the new homebuilder who demonstrates the highest level of excellence in both building and marketing.

Custom Homes SINGLE DETACHED HOME UNDER 2,500 SQUARE FEET

›C ochren Homes Limited, Oakville, ON ›D iscovery Dream Homes Ltd., Peterborough, ON ›L inwood Homes Ltd., Young’s Point, ON ›M aric Homes Ltd., Winnipeg, MB ›R ooftight Construction Limited, Fall River, NS

Finalists for the 2012 national SAM awards: NEW HOME AWARDS Production Homes SINGLE DETACHED HOME UNDER 1,500 SQUARE FEET

› Homes by Avi - Edmonton, Sherwood Park, AB: “The Jacob Darcy Dixon in Maple Crest” › Linwood Homes Ltd., Young’s Point, ON: “Deerbay” › Stepper Custom Homes Inc., Calgary, AB: “Cromwell, Copperfield” › Sterling Homes (Edmonton) Ltd., Edmonton, AB: “Belvedere” › W hitestone Developments, Halifax, NS: “Lot 159 Olive, Thistle Grove”

SINGLE DETACHED HOME BETWEEN 2,500 TO 4,000 SQUARE FEET

›C oastal Construction, Sidney, BC ›N orthern Sky Developments Ltd., Martensville, SK › Th omas Cochren Homes, Waterdown, ON ›T imberworx Custom Homes, Fergus, ON ›T ony Ferkul Construction Group, Mississauga, ON

SINGLE DETACHED HOME BETWEEN 1,500 TO 2,200 SQUARE FEET

› A lbi Homes Limited, Calgary, AB: “The Armento in Riverstone of Cranston” › Lexis Homes, Saskatoon, SK: “The View” › Lucchetta Homes Ltd., Welland, ON: “The Hillcrest, Timmsdale Estates” › Rinaldi Homes (Niagara) Inc., St. Catharines, ON: “The Riverside, Courtland Valley Estates” › Trico Homes Inc., Calgary, AB: “The Desmond in Evanston”

SINGLE DETACHED HOME OVER 4,000 SQUARE FEET

SINGLE DETACHED HOME OVER 2,200 SQUARE FEET

› A lbi Homes Limited, Calgary, AB: “The Carrara in Artesia at Heritage Pointe” › Crystal Creek Homes Ltd., Calgary, AB: “The Westwood II, Aspen Woods Estates”

›B achly Construction, Bolton, ON ›C amelot Homes Ltd., Qualicum Beach, BC ›C oastal Construction, Sidney, BC

www.hometrader.ca | Volume 16 issue 01 | NEW Condo Guide 23

“Victoria Cross” Phase 2 by Avi Urban

› Crystal Creek Homes Ltd., Calgary, AB › McKinley Masters, Calgary, AB MULTI-FAMILY PROJECT

› Adera Development Corporation, Vancouver, BC: “Breeze” › Adera Development Corporation, Vancouver, BC: “seven35” › Rohit Group of Companies, Edmonton, AB: “Essex at Callaghan Ravines”

GREEN HOME AWARD

› Denim Homes Inc., Kentville, NS › Effect Home Builders Ltd., Edmonton, AB › Landmark Group of Builders, Edmonton, AB › Rooftight Construction Limited, Fall River, NS

› Steve Snider Construction Inc., Sunderland, ON

COMMUNITY DEVELOPMENT AWARD

› Adera Development Corporation, Vancouver, BC: “seven35” › Avi Urban, Calgary, AB: “Victoria Cross Phase Two” › Bri-Mor Developments, Calgary, AB: “West Grove Estates” › Empire Communities, Vaughan, ON: “Wynfield (West)” › Watermark Development LP, Calgary, AB: “Watermark at Bearspaw”

HOME RENOVATION AWARDS KITCHEN

› Cochren Homes Limited, Oakville, ON › Kon-strux Developments Inc., Calgary, AB › Nesbitt Originals and Okanagan Dream Builders, Kelowna, BC › RJR Construction Management Ltd., Vancouver, BC › The Caruk Group Inc., Toronto, ON  ANY ROOM

› Cochren Homes Limited, Oakville, ON › Just Basements, Ottawa, ON › My House Design/Build Team Ltd., Surrey, BC › Newcastle Homes, Calgary, AB › reVISION Custom Home Renovations Inc., Vancouver, BC  WHOLE HOUSE – UNDER $250,000

› Haus of Lula Inc., Halifax, NS › Prominent Homes Ltd., Calgary, AB › RJR Construction Management Ltd., Vancouver, BC › Sloot Construction Ltd., Arkell, ON › The Caruk Group Inc., Toronto, ON  WHOLE HOUSE – BETWEEN $250,000 AND $500,000

› Eurodale Developments Inc., Toronto, ON › Lagois Drafting & Construction Inc., North Gower, ON › My House Design/Build Team Ltd.,

24 NEW Condo Guide | Volume 16 issue 01 | www.hometrader.ca

Surrey, BC ›O ke Woodsmith Building Systems Inc., Grand Bend, ON ›U ltimate Renovations, Calgary, AB  WHOLE HOUSE – MORE THAN $500,000

› Kelly Homes, Winnipeg, MB

›M albec Homes & Renovations Inc., Calgary, AB ›M y House Design/Build Team Ltd., Surrey, BC ›N esbitt Originals and Okanagan Dream Builders, Kelowna, BC ›N ewcastle Homes, Calgary, AB MARKETING AWARDS BEST PRINT AD

›C amrost Felcorp Inc., Toronto, ON: “Imperial Plaza Condominiums”; Creative, concept and production: Montana Steele Strategic Marketing ›E mpire Communities, Vaughan, ON: “Eau Du Soleil Condominiums”; Creative, concept and production: Montana Steele Strategic Marketing ›R eid’s Heritage Homes, Vaughan, ON: “Heritage Lake Estates”; Creative, concept and production: Montana Steele Strategic Marketing ›R osehaven Homes, Oakville, ON: “Kleinburg Heritage Estates”; Creative, concept and production: McOuat Partnership Stepper Custom Homes Inc., Calgary, AB: “Passion Starts Early”

BEST DIRECT MAIL PROMOTION

BEST SALES OFFICE

› Camrost Felcorp Inc., Toronto, ON: “Imperial Plaza Condominiums”; Creative, concept and production: Montana Steele Strategic Marketing › Camrost Felcorp Inc., Toronto, ON: “The New Residences of Yorkville Plaza”; Creative, concept and production: Montana Steele Strategic Marketing › Homes by Avi (Calgary) Inc., Calgary, AB: “2012 Dream Home Centennial Photo Contest”; Creative, concept and production: Emerson Clarke Printing › Sifton Properties Limited, London, ON: “Riverbend Golf Community”; Creative, concept and production: Vivid Creative Communications › SigNature Communities, Maple, ON: “Tao Boutique Condos”; Creative, concept and production: Blackjet Inc.

›A lbi Homes Limited, Calgary, AB: “Aspen Summit Park” ›B ranthaven Homes, Burlington, ON: “Origins”; Creative, concept and production: Toolbox Strategies ›E astforest Homes Ltd., Kitchener, ON: “The Design Studio and Presentation Centre” ›M aric Homes Ltd., Winnipeg, MB: “Maric Homes Head Office and Design Centre”; Creative, concept and production: Lloyd Secter Architect ›M attamy Homes Calgary Limited, Calgary, AB: “Lakepointe”; Creative, concept and production: Payne & Associates

BEST WEBSITE

› Celebration Homes Inc., Edmonton, AB › Geranium Homes Limited, Markham, ON; Creative, concept and production: BIG - Builder Insight Group › Karisma Build Group Inc., Fonthill, ON › Oke Woodsmith Building Systems Inc., Grand Bend, ON; Creative, concept and production: Ecoworks › Rinaldi Homes (Niagara) Inc., St. Catharines, ON; Creative, concept and production: VRB Internet Solutions  BEST PROJECT SIGNAGE AND LOGO

› Branthaven Homes, Burlington, ON: “Origins”; Creative, concept and production: Toolbox Strategies › Brookfield Homes (Ontario) Limited, Markham, ON: “Pathways in Caledon East”; Creative, concept and production: BAM Builder Advertising & Marketing Inc. › Geranium Homes Limited, Markham, ON: “Neighbourhoods of Cardinal Point” › Rosehaven Homes, Oakville, ON: “The Randall Residences”; Creative, concept and production: McOuat Partnership › The Wycliffe Group Ltd., Thornhill, ON: “Fairground Lofts in Old Woodbridge Village”; Creative, concept and production: McOuat Partnership  BEST BROCHURE/KIT

› Brookfield Homes (Ontario) Limited, Markham, ON: “Pathways in Caledon East”; Creative, concept and production: BAM Builder Advertising & Marketing Inc. › Lindvest Properties Limited, Downsview, ON: “B.streets”; Creative, concept and production: LA Inc. › Oke Woodsmith Building Systems Inc., Grand Bend, ON: “The Oke Woodsmith Design Collection” › Rosehaven Homes, Oakville, ON: “The Randall Residences”; Creative, concept and production: McOuat Partnership › The Wycliffe Group Ltd., Thornhill, ON: “Fairground Lofts in Old Woodbridge Village”; Creative, concept and production: McOuat Partnership

MARKETING EXCELLENCE AWARD

›B ranthaven Homes, Burlington, ON: “Origins”; Creative, concept and production: Toolbox Strategies ›B rookfield Homes (Ontario) Limited, Markham, ON: “Pathways in Caledon East”; Creative, concept and production: BAM Builder Advertising & Marketing Inc. ›E mpire Communities, Vaughan, ON: “Eau Du Soleil Condominiums”; Creative, concept and production: Montana Steele Strategic Marketing, Munge Leung Interior Design, E.I. Richmond Architects, Zeidler Partnership, MBTW Group ›L indvest Properties Limited, Downsview, ON: “B.streets”; Creative, concept and production: LA Inc. ›S igNature Communities, Maple, ON: “Tao Boutique Condos”; Creative, concept and production: Blackjet Inc. GRAND SAM AWARD

›A lbi Homes Limited, Calgary, AB ›M aric Homes Ltd., Winnipeg, MB; Creative, concept and production: Roth Marketing, Lloyd Secter Architect

“Victoria Cross” Phase 2 by Avi Urban

26 NEW Condo Guide | Volume 16 issue 01 | www.hometrader.ca

inner city 07 d rake by grosvenor

RILEY PARK VE 4A

6 AVE N

5 AVE N

12 08

Visit Sales Centre at 2nd Floor, 850 - 16 Avenue S.W

V 2A

SUNNYSIDE STATION

08 P IXEL by Battistella

ROTARY PARK

PRINCE’S ISLAND PARK

9A St and 2nd Ave NW www.battistella.ca

09 S olaire By La Caille Group

EAU CLAIRE04 MARKET

01 4 AVE S 5 AVE S

11 keynote

220 12th Ave. SW

6 AVE S

MILLENNIUM PARK

CONVENTION CENTRE

9 AVE S

MOUNT ROYAL VILLAGE

TALISMAN SPORTS CENTRE

4 ST W

5 ST W

CLIFF ST

10 ST W

01 Riverfront Pointe by CARLISLE group

101 Riverfront Avenue S.E.

02 m ark on 10th -coming soon by qualex 901 - 10th Ave S.W.

MACLEOD TR

10th St. & 3rd Ave. NW

CALGARY EXIBITION AND STAMPEDE PARK

East Village, Calgary, AB

14 6 th & tenth coming soon by lamb development corp. 15 t he block by avi urban

Sales Centre 1022 17th Ave. SW

ERLTON / STAMPEDE STATION

PROSPECT AVE

26 AVE S

12 st. johns tenth street by streetside 13 F IRST by FRAM + Slokker

VICTORIA PARK / STAMPEDE STATION

17 AVE S

23 AVE S

1 ST W

2 ST W

COLONEL BELCHER HOSPITAL

11 1 ST E

4 ST W

11 AVE S 12 AVE S

5 ST W

8 ST W

10 ST W

FORT CALGARY

CITY HALL

OLYMPIC WY

GREYHOUND BUS TERMINAL

888-4th Ave. SW Presentation suite 912-5th Ave. SW www.solaireliving.ca

26 AVE S

03 4 3 park by vericon real estate ventures Coming Winter 2013

04 W aterfront by Anthem Properties 216 Riverfront Ave. S.W.

www.hometrader.ca | Volume 16 issue 01 | NEW Condo Guide 27

condo newS

Luxurious

Rooftop Fitness Club and Lounge launches in Calgary

35th-floor private residence club at MARK includes fitness centre, sauna, wet bar and lounge

PICTURED

MARK on 10th offers luxury living with rooftop fitness centre, wet bar and lounge

Qualex-Landmark has

announced it is building Calgary’s most luxurious rooftop fitness club and lounge atop its 35-storey downtown Calgary condo project, MARK on 10th. MARK is located in Calgary’s emerging Design District on 10th Avenue and 8th Street SW. MARK’s rooftop residents’ club includes lounge with wet bar and Wi-Fi Internet, media centre, fully-equipped fitness centre, billiards table, seating for small or large gatherings and a cantilevered enclosed glass mezzanine above it all that offers panoramic views of Calgary’s downtown and its surrounding mountains. The rooftop’s fully equipped fitness centre includes stateof-the-art cardio equipment, a Yoga/Pilates studio, infrared

28 NEW Condo Guide | Volume 16 issue 01 | www.hometrader.ca

sauna, steam room, private changing rooms, lockers and shower facilities. Outside on the rooftop is an elevated hot tub, a sunbathing patio with seating, lounge area with barbecue and raised fire pit. The private club is reserved exclusively for MARK residents and their invited guests. “MARK on 10th is designed for those who want to experience the perks of urban living,” says Roger Navabi, president, QualexLandmark. “Creating Calgary’s most luxurious rooftop fitness club and lounge provides an amazing amenity for our residents.” MARK on 10th also features an expansive urban garden on the third-floor retail podium. Inspired by traditional and contemporary landscape design from east and west, it will be one of the largest residential highrise gardens in the city. It includes open lawn areas for passive recreation, overhead shade trees and a fully accessible pedestrian pathway network with lounge seating. Available in two designer palettes, Dawn and Dusk, the oneand two-bedroom homes at MARK provide the finest in quality and finishes and feature over-height doors and ceilings, expansive windows, wide plank wood-laminate flooring, broadloom carpet, elegant porcelain tiles and individually controlled heating and cooling. The one- and two-bedrooms homes will start from the low $200s. “MARK on 10th is Qualex Landmark’s fifth downtown condo project in Calgary and we’ve found that buyers want a good location and great amenities by a highly qualified and experienced developer with a solid track record,” says Mohammed Esfahani, managing director, Qualex-Landmark. “Residents will love the spectacular panoramic views of Calgary’s downtown and the surrounding mountains from MARK’s rooftop lounge. MARK is a mixed-use highrise tower being developed by Qualex Landmark. Architects are award-winning designers Rafii Architect, in partnership with BKDI Architects Inc. and DuranteKreuk Landscape Architects. For more information on MARK on 10th, visit qualex.ca/mark.

LUXURY

Inner city

FROM DAWN TILL DUSK.

ELEVATE YOUR DAY AT MARK ON TENTH. At 10th Avenue and 8th Street SW, Qualex-Landmark is setting a new standard for urban living. The MARK’s rooftop amenity will be the most luxurious in the city, with a fitness centre and a spectacular indoor/outdoor private lounge. On the third floor, the residents’ garden will be one of the largest in Calgary. It feels like an exclusive private club. Yet free membership is just one of the many benefits of ownership. Breathtaking views over the urban skyline and the distant mountains complement the ambitious architecture of this 35-storey tower in the heart of the Design District. New homes in this inspiring location start in the $200,000’s. Mark’s Presentation Centre opens soon. Be among the first to experience Mark on Tenth.

REGISTER NOW AT QUALEX.CA/MARK This is not an offering for sale. Such offering may be made by disclosure statement only. E.&O.E.

www.hometrader.ca | Volume 16 issue 01 | NEW Condo Guide 29

CALGARY CONDO GUIDE

CONTEMPLATING CONDOMINIUMS

// Linda Palfi

REPLACEMENTS Let common AND UPGRADES: sense prevail

Linda Palfi is a condominiumspecialist Realtor with Discover Real Estate. She has overseen many condo projects as the chair of her condo board and is a member of the professional standards committee at the Calgary Real Estate Board. Further articles and her Calgary Condo Directory can be found online at CondosInCalgary.com or call Linda for more information at 403.998.7732

ondo boards can be frustrated when they want to upgrade a replacement fence, driveway or roof, but are advised by their property manager and/or lawyer that they may only replace it with exactly what existed before. This is an overly strict interpretation of Alberta condo law, and one that can be taken too far. One example of this caution would be a townhouse condo development with extensive spruce wooden fencing that’s in need of replacement. The Board wants a switch (upgrade?) to white vinyl fencing that costs more than replacement wood fencing. There’s

money in the reserve account for the project, but the property manager calls a halt, cautioning that condo boards may only “replace like with like,” and to spend more would be a “capital improvement” requiring a 75 per cent in-favour vote by owners. A lawyer is consulted who confirms this narrow interpretation of the law. While I can read section 38 of Alberta’s Condominium Property Act as well as the manager and the lawyer, I differ on the interpretation of “capital improvement.” To me the choice in this example falls within the degree of discretion extended to well-intentioned condo boards doing their job to run their little communities and to get things done. Obtaining a 75 per cent vote from owners can be time consuming and impractical for a variety of reasons, including absentee owners who simply don’t care and don’t respond, yet their abstentions are counted as votes against.

From the judgements that I’ve read, the courts are very cautious about telling condominiums how to run their affairs. If a board’s action is at all reasonable in the circumstances, it stands. As well, this isn’t lawsuit-happy America. How many condo property owners will challenge their board for replacing wooden fences (as an example) with better-quality vinyl fences? If they did, would a judge order removal of the new fences or otherwise sanction the condo board for its best efforts to maintain the common property? From the judgements that I’ve read, the courts are very cautious about telling condominiums how to run their affairs. If a board’s action is at all reasonable in the circumstances, it stands. Perhaps we should seek a little less legal advice and let common sense prevail. Yes, if you have no fences, and want to create fencing between townhomes, then obtain the 75 per cent approval before spending the money. But if it’s a quality replacement, the job just needs to get done. If your property manager remains concerned, he or she can issue the Board a letter declaring their caution and absolving the management firm of any liability. Then replace your wooden fences with vinyl.

30 NEW Condo Guide | Volume 16 issue 01 | www.hometrader.ca

HOMEBUYING

CREA

launches new tool for homebuyers

‘

IN A RECENT NANOS RESEARCH SURVEY FOR CREA, more than 63 per cent of Canadians indicated a “major need” for more information about the financial details of buying a home. That figure rose to 70 per cent for respondents between the ages of 18 and 29. Now, consumers have a new tool to help navigate the complexities and financial implications of purchasing a home. The Homebuyers’ Road Map was recently launched by the Canadian Real Estate Association (CREA) and the Financial Consumer Agency of Canada (FCAC) and is available on CREA’s website at crea.ca. “As Realtors, we appreciate that young Canadians and first-time homebuyers are craving more information about the financial details required to purchase a home,” says Gary Simonsen, CEO of CREA. “The purpose of the Homebuyers’ Road Map is to empower consumers with the knowledge, skills and confidence to make responsible financial decisions about one of the largest purchases they will ever make.” The Road Map is a guide designed to help Canadians better

understand the homebuying process as well as appreciate the importance of negotiating with lenders and researching government programs. “Buying a home involves a number of steps and many buyers need some help in understanding the various options available. In order to make the decision that matches their own circumstances and goals, consumers need some money know-how — which is what financial literacy really is,” says Ursula Menke, Commissioner of the Financial Consumer Agency of Canada (FCAC). “This guide will help people make the right decision, and adds to the information on mortgages, loans and banking available on our website, itpaystoknow.gc.ca.” To access the Homebuyers’ Road Map, visit crea.ca and click the “Buying or Selling?” tab.

A NEW townhome community for Bridgeland and area • 7 MINS TO DOWNTOWN • EXCLUSIVE TOWNHOMES • LARGE OPEN PLANS • 2 & 3 BEDROOM OPTIONS • PRIVATE GARAGE • LUXURY FINISHINGS • VAULTED CEILINGS • FULL SECURITY • MINUTES TO SHOPS & CAFES • GREEN SPACE & PATHS • MAINTENANCE FREE LIVING • LUXURIOUS INTERIOR DESIGN Now under construction, SPECIFICATIONS visit us soon for the best unit selections! Now Nowunder underconstruction, construction, Immediate occupancies available, visit us soon for visit us soon forthe thebest bestunit unitselections! selections! visit us soon for the best unit selections

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ASSURED COMMUNITIES...DELIVERING HIGH QUALITY HOMES FOR A QUARTER CENTURY www.homeTRADER.ca | VOLUME 16 ISSUE 01 | NEW CONDO GUIDE 31

FUNDAMENTALLY SPEAKING

Take a long-term view

// BY WAYNE KARL

WHEN BUYING YOUR HOME HOW TO MAKE SENSE OF IT ALL?

Wayne Karl is an award-winning writer and editor with experience in real estate and business. In Fundamentally Speaking, Wayne explores the basics – such as economic fundamentals – you need to examine when buying property. He can be reached at wayne. karl@wall2wallmedia.com or follow him on Twitter at Twitter.com/WayneKarl

t’s a brand new year, so it’s a natural time to assess how Canada’s economy, industries, real estate market and other sectors performed last year, and what may lie ahead for 2013. Various housing agencies, realty firms, major banks and other stakeholders continue to release reports, reviews and forecasts of the months passed and those about to unfold. Meanwhile, there’s interest rates and prices of consumer goods to monitor, some sectors face challenging conditions and there’s still some concern about overall Canadian and global economic performance.

Welcome to the first steps of becoming a homebuyer. Long before you visit your banker or start attending grand openings, model previews or open houses, experts say you should undertake a thorough self-education process that involves learning the basics of mortgages, reviewing your personal finances and researching your prospective home market. It’s time well spent, for all of this due diligence will prepare you for one of the most important steps you’ll ever take, and will help you make the necessary decisions from an informed and confident point of view. Managing this process also includes keeping abreast of financial news, as well as any developments in your job security and credit-worthiness, and in the neighbourhood you’re considering buying in.

It’s important to not be overly concerned or excited by national trends and averages – be they positive or negative, disconcerting or glowing, about employment, home prices, housing starts or other important factors. Remember, when you buy a home, you don’t buy a national market. You don’t even buy a provincial, regional or even metropolitan one. You buy one property on one street in a particular area of a city or town. What happens in one neighbourhood may be completely different from what’s going on in another in the same city, or from one street to the next, and certainly from house to house. What’s challenging to one market might be a cause for growth in another. That’s why it’s important to not be overly concerned or excited by national trends and averages – be they positive or negative, disconcerting or glowing, about employment, home prices, housing starts or other important factors. Yes, pay attention to them all and fi le them as part of your research, but it’s more relevant to watch local developments that truly affect you and your market. Experts suggest you take a long-term view – five to seven years – of your homebuying decision. This will likely produce a brighter and more stable picture than anything caused by short-term vacillations.

32 NEW CONDO GUIDE | VOLUME 16 ISSUE 01 | www.homeTRADER.ca

Inner city

Limited Release

NEW CONDOS in

KENSINGTON Coming Early 2013

for best selection and price incentives 403-225-0023

vencondos.com

INNER CITY

Here’s what you can do to Recycle, Renew and Reuse • Keep your car in good working order. Tune-ups and filter changes cut down on exhaust emissions, and you’ll get better gas mileage. When you change your oil, take your used motor oil to a recycling centre. • Use available transit alternatives. • Separate your garbage. Glass, aluminum, paper and even plastic can be recycled. If a recycling program is not directly available to you, contact your municipal sanitation department. • Donate reusable clothing and linens to charity. Most pick-up regularly in your area. • Become environmentally active in your community. You can make the world a better place to live... now and for future generations.

Recycle girl(19/9)-ja/ah

34 NEW CONDO GUIDE | VOLUME 16 ISSUE 01 | www.homeTRADER.ca

INNER CITY

TOWNHOMES IN THE $400’S

LIVE CENTRAL

LIVE ACTIVE

SCAN TO VIEW

LIVE INNOVATIVE

LIVE GREEN LIVE INNOVATIVE

FALL / WINTER 2013 POSSESSIONS

1120 KENSINGTON RD NW TUESDAY-FRIDAY 10AM-6PM SATURDAY/SUNDAY 11AM-5PM

pi xe lco n dos .c a

Virtual Tour

www.homeTRADER.ca | VOLUME 16 ISSUE 01 | NEW CONDO GUIDE 35

NORTHWEST

SYMONS VALLEY RANCH

772

SAGE HILL DR NW

SAGE VALLEY DR

SALES CENTRE

N Symons Valley Rd Beddington Trail NW

SAGE VALLEY RD NW

144 Ave NW

THE COMMUNITY OF

PANORAMA HEIGHTS NW

201

NW rail ey T n o St

AIL E

12 11

1120 Kensington Road NW

12 ST. JOHN’S 10TH STREET IN KENSINGTON BY STREETSIDE

CALGARY INTERNATIONAL AIRPORT

10th Street & 3rd Avenue NW

13 SAGESTONE BY GREENVIEW DEVELOPMENTS AveUNIVERSITY CITY 32 14 BY KNIGHTBRIDGE BRENTWOOD LRT

universitycity.ca 16 AVENUE

15 THE GROVES OF VARSITY BY STATESMAN HOMES

5353 Crowchild Trail NW E R IVCOVENTRY STATION D16

ME M O R I AL

36 STREET

SARCEE TRAIL

11 PIXEL BY BATTISTELLA

livesagestone.com

16 AVENUE

17 Ave

37 STREET

GLE 01 PANORAMA WEST NM ORE BY CARDEL LIFESTYLES T

ELBOW DRI VE

BLACKFOOT TRAIL

04 SWAN LANDING BY SWAN GROUP

RAIL

500 Rocky Vista Gardens N.W.

05 ENCORE AT KINCORA BY CARLISLE GROUP

03 RED HAUS BY STREETSIDE

18 SONOMA AT SAGE HILL BY VERTICAL PROPERTIES 881 Sage Valley Boulevard www.sonomasagehill.com

BARLOW TRAIL

GLENMORE RESERVOIR

13001 Coventry Hills Way www.coventrystation.ca

16 Sage Meadows Circle NW

37th Street and Kincora Glen Road N.W.

118 - 30 Royal Oak Plaza N.W.

BY HUNTER RESIDENTIAL DEVELOPMENTS

17 BROWNSTONES BY GENESIS BUILDERS GROUP

MacLEOD TRAIL

69 STREET

85 STREET

OLD BANFF COACH ROAD

175 Panatella Hill NW

64 Ave

37 Kinlea Way NW

EDMONTON TRAIL

AIL TR AP I SH

AG AN N

HIL LD R. SE NO

Y TR

ENU

JO HN CR LA OW UR 14 IE CH BLV ILD D. T R 08 AIL

10 PROSPECT RISE BY AVI URBAN

FO OT TR A

HA RV BLVEST H D N ILLS E

85 ST. NW

E STON

NOSE HILL PARK

09 EVANSTON SQUARE BY STREETSIDE 25 Evanspark Way NW

01 . BLVD S L IL H

05 TRY N COU BED DIN GTO NT RAI 14 LN ST W RE ET

STONEY TRAIL NW

16 A V

LE 09 YR D.

3951-46 Avenue NW

STONEY TRAIL NW

VA L

CENTRE STREET

Sage Hill View NW

08 VARSITY LANDING BY CARLISLE GROUP

07 SAGE HILL VILLAGE BY SLOKKER CANADA WEST INC.

CENTRE STREET

18 SY MO

COUNTRY HILLS BLVD.

14 STREET

ROCKY RIDGE BLVD.

144 AVE NW.

PANORAMA ROAD NW.

NORTHWEST COMMUNITIES

SOUTHLAND DRIVE ANDERSON ROAD

DEERF

OOT T

F TOWNHOMES

W BO

NEW

M A TR IL

AIL

VIT McKE

TR OD

LE Mac

S JAME

$280’s SHAWNESSY BLVD.

TTO BO

ISH NW CRE EK P WITH 2 CAR ATTACHED GARAGES ARK STARTING FROM THE

RAIL

SHOWHOMES NOW OPEN

aviurban.com/prospectrise

IS OF

U MARQ

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TRAIL A MULTI-FAMILY DIVISION OF

www.homeTRADER.ca | VOLUME 16 ISSUE 01 | NEW CONDO GUIDE 37

CONDO PROFILE

CARDEL LIFESTYLES launches sales in ﬁnal

Panorama West building // BY HEATHER RYAN

ardel Lifestyles continues to build on the success of its immensely popular Panorama West condo community with the launch next month of its fourth and final building in northwest Calgary’s Panorama Hills. With its exceptional pricing, amazing location, terrific floorplans and outstanding value, Panorama West has been such a hit with buyers the first two buildings are sold out with possessions underway in Building B, and Building C is more than 70 per cent sold, prompting the release of sales in the 80-suite Building D on Feb. 23rd. “We’ve had a tremendous response to Panorama West,” says area manager Brad Logel, who helped 92 customers purchase

condo suites in 2012. “The affordability factor, with prices starting at $156,900 plus GST, and this location kitty-corner to million-dollar homes and an abundance of amenities with walking distance is really appealing to first-time buyers and those looking to downsize.” Buyers in Building D have nine different models to choose from, with one bedrooms ranging from 572 to 750 sq. ft., and two bedrooms, with either one or two bathrooms, ranging from 624 to 1,037 sq. ft. “What’s new for Building D is we’re offering three new and improved plans, taking our three biggest suites and making significant changes to create an even greater open concept and larger kitchens with a third more cabinet space and pantries,” Logel says. “These will appeal to buyers who want to step up to the condo living lifestyle; we’re really upping the level of the condo experience.” Buyers in Panorama West enjoy well-appointed suites that include six appliances – a larger fridge, stove, dishwasher, hood fan, energy-efficient front-loading washer and dryer – breakfast bars in the kitchens and good-sized balconies. There are four designer colour

palettes to choose from with multiple choices in each so buyers can personalize their suites. Many suites have niches for IT centres or den space, laundry rooms with storage space, and there’s an option for a gas fireplace. Panorama West also has an upgraded fire system, underground parking for most plans and titled surface stalls for the others, and improved sound attenuation. Cardel Lifestyles is also focused on providing exceptional quality, and buyers will be thrilled to learn the multi-family builder had a zero to less than a half deficiency per suite in 2011, and turned over a complete building in 2012 with only one deficiency. “That’s really remarkable and we’re very proud of what we’ve been able to achieve,” Logel says. “It shows buyers the quality and value in our buildings.” Panorama West also offers an enviable location because it’s an extremely walkable community with an array of shops and services right next door at the Gates of Panorama Hills that include a drug store, banks, medi-centre, a Tim Hortons, restaurants, a gas bar, and a SaveOn-Foods grocery store that is now under construction. There is also green space, a playground, a pond and sports fields (to be completed this year) across the street and pathways that link to other amenities including a new school. “When you get home you can park the car and walk to everything,” Logel says, “or there is a bus right there that can take you to other nearby amenities,” such as shops, restaurants, grocery stores, a movie theatre, rapid transit and Cardel Place Recreation Centre, all less than a five-minute drive away.

Residents also have easy access to Stoney Trail, Deerfoot Trail and Country Hills Boulevard for getting downtown, to the airport and out of town. “We anticipate a great response to the launch of Building D because for condo living in suburban northwest, I don’t think it gets any better,” Logel says. “If you want to live in a condo community that has this level of convenience, you’ll want to take advantage of the opportunity to get into Building D, because once those are gone, it’s done.” Buyers can learn more about Panorama West by visiting the four showsuites and sales centre, open Monday to Thursday 2-8 p.m., weekends and holidays, noon-5 p.m. Call 403.241.8975 or visit cardelcondos.com. www.homeTRADER.ca | VOLUME 16 ISSUE 01 | NEW CONDO GUIDE 39

YOUR MORTGAGE

MANAGING YOUR MORTGAGE What you should think about when financing your home your home is probably the most important investment you’ll ever make. Whether you’re buying a condo or refinancing your existing home, making the right decision now can help save you money and provide greater financial stability for your family in the future.

IF YOU’RE LIKE MOST CANADIANS,

To help you make an informed decision, Canada Mortgage and Housing Corp. (CMHC) offers the following tips on what you should think about when financing a home:

» Calculate in advance how much home you can afford. Mortgage professionals use a few variables to determine the maximum mortgage you can afford: your household income, your down payment and your debt payments including your new planned mortgage along with major related expenses such as property taxes and heating. If you want to do some calculations of your own, CMHC has created a very simple online Mortgage Affordability Calculator (cmhc-schl.gc.ca). » Consider getting a smaller mortgage than the maximum amount you can afford. Your future financial picture may not be the same as it is today. By taking on a smaller mortgage than the maximum amount you can afford, you will gain the flexibility and peace of mind to manage your other obligations today and deal with any unforeseen events that might occur in the future.

For many homeowners, a rise in interest rates could have a significant impact on their housing costs. 40 NEW CONDO GUIDE | VOLUME 16 ISSUE 01 | www.homeTRADER.ca

» Evaluate the impact rising interest rates could have on your monthly payment. For many homeowners, a rise in interest rates could have a significant impact on their housing costs. For example, if you are renewing a mortgage of $250,000, an increase of just two per cent in the interest rate could cost you around $300 extra each month. Evaluating the impact of future interest rate increases today could help you avoid potential financial difficulties tomorrow. » Become mortgage-free faster by reducing your amortization period. This will increase your monthly payments, but will also save you money in interest over the life of your mortgage, and make your family mortgage-free sooner. Choosing an accelerated payment option (equivalent to one extra payment per year), making lumpsum payments or increasing your regular payment amount all contribute to reducing your amortization period. For more information on any other aspect of owning, maintaining or buying a home, visit the website at cmhc.ca or call CMHC at 1.800.668.2642.

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MONEY MATTERS

January is

// BY GAIL VAZ-OXLADE

“MAKE DO” MONTH popcorn and drinks. Recycle a movie you already own or do a movie swap with friends, add some home-made popcorn and a 12-pack of pop and you can probably do it for $10. Now that’s making do! January is also a good month to experiment with a new routine as you make do. If you’re used to buying coffee every day, brew your own at home or work and save big-time. If you regularly go out for lunch, pack one from home for four out of every five days and not only will you drop those holiday pounds, you’ll be able to pay off that holiday debt.

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

f there’s any month when you’re most likely to wonder if all the bills will get paid, it’s January. After the feverish rush of the holidays and all the unexpected expenses that popped up, no doubt things will be a little tight. Add the extra cost of heating and the jump in “fresh” food prices and you’ll be looking for ways to trim back. Enter Make Do Month. This is the month when you stretch everything a little farther so you spend a lot less. If you get invited to a party, you don’t rush out and buy something new, you get creative and shop from your closet. And if you need a little something different, you shop from a friend’s closet. Or hold a clothing exchange. What you don’t do is spend money! When the weather is warm, it’s easy to do lots of free things. When it’s cold, entertainment gets more expensive. Sure there’s that great movie you’d love to take the family to for a night out of the house. For a family of four, you’re probably looking at $100 or more with

Make Do Month is a conscious decision to stretch every dollar as far as it will go. But what if you have family or friends whose birthday falls in January. You’ll have to buy something. No you don’t. You can give something of yourself instead of something purchased. Make their favorite cookies, offer to cook them a meal or a bunch of meals for the freezer for those extra busy workdays, or create a coupon for three nights of free babysitting. Maybe you’re a computer genius and can offer to do maintenance or repairs. Perhaps you’re a mechanic and can offer a tune-up. Substitute your energy for spending money. After the buzz of the holidays you’ll no doubt be happy to stay home for the first couple of weeks. Then you may start feeling itchy. You’ve got to get out. You can feel the walls closing in. Time to hit that great new restaurant that just opened up, or head out to the clubs. Wait a minute. This is Make Do Month. Call up a couple of friends and throw a pot-luck game night instead. See if you can do it at their house this time. Start a tradition of once-a-month games or poker nights and rotate from one friend’s home to another. No one says you can’t have fun in Make Do Month. You just can’t spend gobs of money. Make Do Month is a conscious decision to stretch every dollar as far as it will go. Try it and see if just becoming conscious saves you money. I’ll bet you’re pleasantly surprised.

44 NEW CONDO GUIDE | VOLUME 16 ISSUE 01 | www.homeTRADER.ca

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CONDO PROFILE

EXCEL’S Heartland Townhomes have a wide appeal // BY HEATHER RYAN

ith floor plans that appeal to a wide range of buyers and an enviable price point, it’s easy to see why buyers are falling in love with the Heartland Townhomes in Cochrane. Award-winning Excel Homes is crafting these terrific townhomes in Heartland and is currently pre-selling 60 units in three- and four-plexes. “Since we launched, the sales have been unbelievable,” says Lyle Jessett, area manager. “The interest has been very high and people coming through are serious to buy. “They love the floorplans, the designs and the excellent price point,” he says. “People are also pretty excited that with these homes there are no condo fees so they don’t have to pay out that extra money each month.” With homes starting at $249,900, Jessett says the price “is appealing to firsttime buyers, but we’re also seeing a mix of buyers from young families to people looking to downsize because we offer such a wide range of sizes and styles.” With eight different models and a broad range of sizes from 1,209 to 1,630 sq. ft., buyers will find a townhome to suit any lifestyle.

The townhomes are two-storey designs, plus there will be a limited number of thirdstorey loft units. All offer three bedrooms, two-and-a-half bathrooms, and laundry on the lower level, main floor or upstairs depending on the model. Four of the eight models offer a rear attached single-car garage and rear deck, and there is an option to have a rear detached garage with the other models. “The townhomes also come with a lovely front veranda with walls on both sides so you can sit out there and enjoy the privacy,” Jessett says. “It’s a huge space and people really love it.” These homes offer quality along with affordability and come with a high level of standard features including nine-ft. ceilings on the main floor, hardwood and ceramic tiles floors on the main floor, and an appliance package with fridge, stove, dishwasher and over-the-range microwave. Some of the kitchens come with islands with breakfast bar seating and some will have pantries, depending on the model. Buyers can also personalize their homes by choosing from three interior designer packages that offer a variety of colour and stain options. Excel also takes pride in offering Built Green features that are eco-friendly and energy-efficient, such as low-E windows, water-saving plumbing fixtures and high-efficiency furnaces. Exteriors present Arts and Crafts architectural elevations with stylish details including stone treatments. The rear lane access with rear parking ensures a beautiful front streetscape. Heartland also offers a great location on the west side of Cochrane with stunning mountain and river valley views, and it has convenient direct access to Hwy. 1A making it easy for residents to commute to Calgary or head to the mountains. Residents will appreciate the fact that they’re just minutes to downtown Cochrane where they can find everything from big box retailers and grocery stores to charming boutiques, restaurants and services, along with schools, recreational facilities, parks and pathways. Excel has a sales centre and two furnished townhomes open for viewing in one of its quick possession townhome units and is currently building three showhomes – the 1,458-sq.-ft. Birchwood, the 1,484-sq.-ft. Paxton and the 1,532-sq.-ft. Stapleton – and a sales centre in a new four-plex that is expected to open in April. To learn more about Excel’s Heartland Townhomes, visit the sales centre at 178 Clydesdale Way, open Monday to Thursday, 2-8 p.m. and weekends and holidays, noon-5 p.m. Call 403.981.2018, or visit excelhomes.ca.

46 NEW CONDO GUIDE | VOLUME 16 ISSUE 01 | www.homeTRADER.ca

CALGARY’S SATELLITE COMMUNITIES 22

AIRDRIE

302 Sunset Pointe Cochrane, Alberta

04 SUNSET POINTE BY CALBRIDGE HOMES 05 STONE CREEK LANDING BY CARLISLE GROUP

10 12

06 04

103 - 5th Avenue, West, Cochrane, Alberta

COCHRANE

06 THE VILLAGE BY CALBRIDGE HOMES STRATHMORE 3102-15 Sunset Square

CALGARY

CHESTERMERE

797 LANGDON

22X

TURNER VALLEY

604 East Lake Blvd N.E. Airdrie, Alberta

12 RAVENSWOOD TOWNHOMES BY SLOKKER CANADA WEST

2802 Kings Heights Gate COMING SOON

HIGH RIVER

COCHRANE 01 RIVERSTONE AT COCHRANE BY SLOKKER CANADA WEST INC. 240 Riverview Drive in Cochrane

8th & MacKenzie Way Airdrie, Alberta

11 THE EDGE BY STREETSIDE DEVELOPMENTS

543

09 CREEKSIDE VILLAGE BY CARLISLE GROUP

#4 Kingsland Close N.E. Airdrie, Alberta

OKOTOKS

546

AIRDRIE

10 COURTYARDS OF KINGS HEIGHTS BY MERGE DEVELOPMENTS

BLACK DIAMOND

Cochrane, Alberta

02 HEARTLAND TOWNHOMES BY EXCEL HOMES 1178 Clydesdale Way, Cochrane, Alberta

03 CONCEPT BY JAYMAN MODUS 201 Sunset Drive, Cochrane, Alberta

15 CHESTERMERE TOWNHOMES LETHBRIDGE BY SLOKKER CANADA WEST

#300 Marina Drive, Chestemere

16 PENNCROSS BY STREETSIDE DEVELOPMENTS

127 & 129, 1 Crystal Green Lane, Okotoks, Alberta

www.homeTRADER.ca | VOLUME 16 ISSUE 01 | NEW CONDO GUIDE 47

DESIGNER TOUCH

// BY ERICA GELMAN

TREND FORECAST FOR 2013

new year is upon us and, as the saying goes, “the only constant in life is change.” Nowhere is that statement truer than in the world of design. Every year we are exposed to new and exciting design trends and movements in the industry. Often, the word ‘trend’ can be associated with a negative connotation, suggesting a style that will inevitably pass just as fast as the current season. However, I believe that if properly executed, a ‘trend’ can become a classic staple rather than a temporary essential.

Colour Erica Gelman is Principal of Erica Gelman House Of Design. She specializes in both large- and small-scale residential design projects and is known for enhancing and creating new possibilities in every space of the home. www.ericagelman.com

Colour is usually the first trend everyone is curious about. What’s the big colour to hit the design world? In my opinion, there have been a few. First is yellow – a creamy bright hue that will dominate with its vibrancy. Yellow can be combined easily with neutrals to create the perfect colour palette. Pair it with white and grey for a modern look, or accent it with navy for a fresh design approach. Yes, you read that correctly, navy as a neutral. This is a design trend which deserves some serious note taking. Forget brown and beige, blue is the new chief in town. It’s much more subtle than black although the intensity of navy has the same dramatic effect. There is such a large spectrum of blue hues, from royal to electric and midnight to cobalt, you’re guaranteed to be drawn to at least one.

Yellow can be combined easily with neutrals to create the perfect colour palette. Pair it with white and grey for a modern look, or accent it with navy for a fresh design approach.

CONTINUED ON PAGE 50…

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designer touch

continued…

Feeling Lately, a huge movement we’ve been seeing in interior design has nothing to do with colour, pattern or even style but rather a mood trend. Our clients have been requesting a comfortable environment where they feel at ease in lieu of the typical designer showhome. We’ve been hearing more and more that our clients are looking for fabrics they can use, instead of just look at. It’s an attempt to have their homes decorated to look as if they’ve decorated them themselves. This is actually one of my favourite trends because it allows the homeowner to create a personal reflection in their most sacred environment. This trend is all about using understated pieces to form a collection of new and old, reclaimed and store-bought.

Finishes Another area we are seeing the trend of “mixing and non-matching” is with metals. Do you love brushed nickel? Are you intrigued by bronze? Does stainless steel still excite you? Well, you don’t have to choose one. While this may be music to a designer’s ears, it can also be a pretty scary statement for the amateur decorator. It’s how you incorporate the metals and the harmony among your choices that will result in the perfect metal combination. For instance, if you are working on a kitchen design, you can use a faucet that stands out while keeping your cabinet hardware consistent throughout the kitchen.

Man Cave First and for most, the man cave is not a new concept however, it is evolving and becoming much more mainstream. We are seeing more men who like to get involved in everything from the fabric selections, furniture pieces, artwork – even down to the rugs. This puts into perspective that the man cave is no longer a dark and gloomy space either in the garage or the basement. These “caves” were typically poorly lit, dressed with rundown furniture and kept bare floored yet featured the large TV screen as their focal point. Rather, these trendy spaces are just as tailored and customized as the main floor living room, although the large TV screen is still the dominant feature. 50 NEW Condo Guide | Volume 16 issue 01 | www.hometrader.ca

If you are working on a kitchen design, you can use a faucet that stands out while keeping your cabinet hardware consistent throughout the kitchen. Trends don’t have to all be used, especially not together. You should incorporate what works for you and your lifestyle. They are a gateway to start getting excited about change and making better style decisions. These current styles emerge from the notion of people enjoying their homes and creating living spaces that suit them personally. Let’s make 2013 the best design year yet!

METIS TRAIL

northeast communities

FO OT TR AIL

VD. LS BL

Coming Winter 2013

COUNTRY HILLS BLVD.

03 i ndigo sky at saddleridge by carlisle group

68 Street NE & 80 Avenue NE

SADDLETREE DR.

52 STREET

04 Galleries Renfrew by ASSURED HOMES

03 09 80 Ave

1116 Renfrew Drive NE

05 Coventry Station by HUNTER RESIDENTIAL DEVELOPMENTS

CALGARY INTERNATIONAL AIRPORT

64 Ave

CENTRE STREET

CRI J OW OHN CH L ILD AUR IE TR BLV AIL D.

12 AVENUE

32 Ave

Skyview Ranch Rd & Skyview Ranch Dr

IVE

L DR MORIA

36 STREET

08 h ighland park By stonecroft 4303 - 1st Street NE

17 Ave

09 t he gardens of saddlestone By genesis builders group 329 Saddlelake Dr. NE

52 STREET

BLACKFOOT TRAIL

17 Ave

IVE

07 a rrive @ SKYVIEW RANCH By PARTNERS DEVELOPMENT Group

04 02 RIAL D RIVE

10 i ndigo sky at tara lake By carlisle group Sales Suite 68 Street & 80 Avenue NE

MacLEOD TRAIL

ELBOW DR

6 Saddlelake Place NE

16 AVENUE

MEMO

11 KINTALLA By STREETSIDE DEVELOPEMENTS

ANDERSON ROAD

DEERF

52 STREET

BARLOW TRAIL

GLENMORE TRAIL

SOUTHLAND DRIVE

150 Redstone Grove NE www.kintalla.com

114 AVE SE

OOT T RA

W BO

NEW BRIGHTON

Mac D LEO

MARQ

AIL

NE TR

LOR IS OF

COPPERFIELD

TRA

EVIT S McK JAME

TRA

EK P ARK

TTO BO

CRE

SHAWNESSY BLVD.

06 Saffron By Genesis Builder’s Group

68 STREET

EDMONTON TRAIL

14 STREET

16 AVENUE

FISH

13007 Coventry Hills Way NE www.coventrystation.ca

MCKNIGHT BLVD.

GLENMORE RESERVOIR

64 Ave

FA L RID CON GE

NOSE HILL PARK

84 STREET

IL TR A PI NA SH AG AN

11 07

HIL NTRY COU

02 4 3 park by vericon real estate ventures

STONEY TRAIL

13007 Coventry Hills Way NE CHAPARRAL

ABURN BAY

Two Bedroom, Two Bathroom CRANSTONTownhomes over 1100 sq. ft. Located in the established community of Coventry Hills

www.CoventryStation.ca

587-896-6107 www.hometrader.ca | Volume 16 issue 01 | NEW Condo Guide 51

Scrumpdillyicious

Leslie Styles, foodie and travel aficionado, shares some delicious dishes found on her travels around the world

Penne with Italian Sausage, Peppers AND Basil ingredients

Serves 6-8

› 2 lb Penne rigate or ziti › 2 lb hot Italian sausage › 3 tbsp olive oil › 3 sweet red bell peppers, cleaned and thinly sliced › 1 cup finely chopped yellow onions › 1 cup red wine › 1 cup of water › 4 cups homemade or good quality tomato sauce

› 6 garlic cloves, peeled and finely chopped › 1 tsp fennel seeds, crushed › 1 tbsp dried oregano › 1/2 tsp red chiles, crushed salt and pepper › 1 cup fresh basil leaves › 1 cup freshly grated Pecorino or Ricotta › thyme sprigs or lemon zest for garnish, optional

Directions Pierce the sausages all over with the tines of a fork and place in a large pot with 1/2-inch of water and simmer over medium heat, for about 20 minutes. Eventually the water will run dry and the sausages will begin to fry in their own fat. Turn them occasionally and cook for another 10 minutes, or until they’re well browned. Remove them from the pot and drain on paper towel. Pour the fat out of the pot, then set over low heat. Add the olive oil and onions and cook, covered, for 25 minutes. Add the peppers and raise the heat to medium, and cook uncovered for five more minutes, stirring often.

a robust variation of the classic Italian Penne all’arrabbiata, a spicy Roman sauce of garlic, tomatoes, basil and red chiles cooked in olive oil. Penne Arrabbiata literally translates as “angry pasta” due to the abundance of chile peppers, but I also like to add chopped onions, hot Italian sausages, peppers and crushed fennel seeds which makes the sauce even angrier. Traditionally, penne rigate is used for this dish, which are small, ridged tubes of pasta cut diagonally at the ends, but ziti works just as well. Quick and easy to make, this full flavoured Penne Arrabbiata with Italian Sausage, Peppers and Basil is delicious with a traditional grating of pecorino, but is also quite fabulous with fresh ricotta and a little lemon zest.

this hearty pasta sauce is

52 NEW Condo Guide | Volume 16 issue 01 | www.hometrader.ca

Add the wine, tomato sauce, water, oregano and season with salt, pepper and red chiles to taste. Bring to a boil, reduce the heat and simmer, partially covered for 30 minutes. Meanwhile, slice the sausages into 1/2-inch thick rounds. Once the sauce has simmered 30 minutes, add the sausages and fennel seeds and simmer, uncovered for another 20 minutes. While the sauce is cooking, bring water to boil in a large pot. Add salt and add the penne rigate or ziti, and cook until tender but firm. Drain and set aside. Add the basil and chopped garlic to the sauce and simmer another five minutes. Serve immediately over the hot pasta and garnish with fresh grated pecorino or ricotta, and garnish with sprigs of thyme.

Leslie Styles is president of Styles Design Inc., a Toronto-based branding and communications agency, and author of Scrumpdillyicious, a food & travel blog dedicated to all things delicious. She can be reached at stylesdesign.net and scrumpdillyicious.blogspot.com

homebuyersâ&#x20AC;&#x2122; help

Condo Buyersâ&#x20AC;&#x2122; Resource Section You love the condo, see what you can afford! Compare mortgage rates for your best deal alculate your mortgage payments using the C mortgage payment calculation chart

HOMEBUYERS’ HELP

YOU LOVE THE CONDO, SEE WHAT YOU CAN AFFORD! INTEREST RATES

CALCULATE YOUR MORTGAGE PAYMENTS

AMORTIZATION PERIODS

% 5 YEARS

10 YEARS

15 YEARS

20 YEARS

25 YEARS

5.00%

18.84

10.58

7.88

6.57

5.81

5.25%

18.96

10.70

8.00

6.70

5.95

5.50%

19.07

10.82

8.13

6.84

6.10

5.75%

19.18

10.94

8.26

6.98

6.25

6.00%

19.29

11.06

8.39

7.12

6.39

6.25%

19.41

11.18

8.53

7.26

6.54

6.50%

19.52

11.31

8.66

7.40

6.69

6.75%

19.63

11.43

8.79

7.54

6.85

7.00%

19.75

11.55

8.93

7.69

7.00

7.25%

19.86

11.68

9.06

7.83

7.15

7.50%

19.98

11.81

9.20

7.98

7.31

7.75%

20.09

11.93

9.34

8.13

7.47

8.00%

20.21

12.06

9.48

8.28

7.63

8.25%

20.32

12.19

9.62

8.43

7.79

MONTHLY PRE-TAX INCOME

SPOUSE’S PRE-TAX INCOME

TOTAL PRE-TAX INCOME

DIVIDE BY THREE

AFFORDABLE MONTHLY PAYMENTS

AMOUNT OF MORTGAGE (PRICE-DOWN PAYMENT)

CHART FIGURE

AMOUNT OF MORTGAGE DIVIDED BY 1,000

AMORTIZATION AMOUNT

ESTIMATED MONTHLY TAXES AND HEAT

MONTHLY PAYMENTS

FOLLOW THESE STEPS TO SEE IF YOU’LL QUALIFY FOR A MORTGAGE ON YOUR DREAM CONDO

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

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

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

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

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

Refer to the chart on the opposite page. Look down the left column and locate the interest rate you expect to pay. Line this up with the amortization period of your choice. (Most first-time buyers take the 25-year amortization.)

If this figure is equal to or less than one-third of your gross monthly income (calculated in Step 2), you’ll qualify for a mortgage on your dream condo. Bear in mind that this is a rough estimate. If you have several other large loans already, you may qualify for less. Also, banks and trust companies vary in their policies. The best way to know what you can afford is to go to the lending institution of your choice and get pre-qualified.

54 NEW CONDO GUIDE | VOLUME 16 ISSUE 01 | www.homeTRADER.ca

COMPARE MORTGAGE RATES FOR YOUR BEST DEAL VARIABLE

ATB Financial Bank of Montreal Bank of Nova Scotia BMO Bridgewater Bank CIBC Mortgages Canadian Western Bank Canadian Western Trust First Calgary Financial First National Financial HSBC Bank Canada ING Direct Investors Group Trust Laurentian Bank Canada London Life Manulife Bank Manulife Trust Meridian Credit Union National Bank Peace Hills Trust President’s Choice Fin’l Royal Bank of Canada Servus Credit Union T-D Mortgage

3.000 3.100 3.100 3.100 3.200 3.200 3.200 3.000 3.100 3.000 3.000 3.200 3.000 3.000 2.850 3.200 3.200 3.200 3.200

6 MONTHS

4.000 4.000 4.550 4.000 4.450 4.000 4.000 4.000 3.950 4.450 4.000 4.400 4.000 4.450 4.450 4.450 4.000 4.500 6.040 4.000 4.000 4.000

1 YEAR

3.100 3.100 3.650 3.100 3.240 3.000 3.100 3.100 2.390 2.740 3.600 3.250 3.100 3.090 3.100 3.000 3.000 3.100 3.100 3.100 3.140 3.100 3.100 3.000

2 YEARS

3 YEARS

4 YEARS

5 YEARS

3.140 3.140 3.890 3.140 3.390 3.140 3.140 3.140 3.140 2.690 3.950 3.250 3.140 3.140 3.140 3.100 3.100 3.140 3.140 3.350 3.200 3.140 3.140 3.140

3.700 3.700 3.990 3.700 3.150 3.700 3.700 3.700 2.990 2.890 4.450 3.250 3.700 3.700 3.700 3.150 3.150 3.700 3.700 3.700 3.240 3.650 3.700 3.700

4.390 4.640 4.390 4.640 3.570 4.390 4.640 4.640 3.290 3.150 4.990 3.250 4.640 4.640 4.640 3.150 3.150 3.400 4.640 3.850 3.350 4.640 4.390 4.640

3.690 5.240 4.990 5.240 3.200 5.240 5.240 5.240 3.290 3.090 5.240 3.090 5.240 5.240 5.240 2.950 2.950 3.280 5.240 3.950 3.440 5.240 5.240 5.240

This information is current as of December 10, 2012 and is subject to change without notice.

MORTGAGE OPTIONS You can choose any of these mortgage options which fit into the two basic mortgage types. Lenders may even customize these options to suit your needs. All mortgages are of two basic types:

CONVENTIONAL

OPEN MORTGAGE

Buyer can borrow up to 75 per cent of the purchase price or the value of the property, whichever is less. Buyer has to pay 25 per cent down. A conventional mortgage cannot exceed 75 per cent of the value of the property.

Allows borrowers are to repay all or part of the total amount of their mortgage at any time without penalty. Because of flexibility, this is ideal for borrowers who plan to sell their homes in the near future or who want to switch from a short-term mortgage at high-interest rates to a longer term when mortgage interest rates fall.

INSURED OR HIGH-RATIO Buyer can borrow up to 95 per cent of the purchase price or the value of the property, whichever is less. The down payment can be as low as five per cent.

CLOSED MORTGAGE This usually has the lowest interest rate available but lacks the flexible features of other mortgage options. It’s a good

choice for those who want the security of knowing their monthly payment is fixed for a longer term. Prepayment options are available but they are subject to conditions.

PORTABLE MORTGAGE Offers flexibility if borrowers move. Borrowers can take the mortgage to their new home or can transfer it (usually with the consent of the lender) to the purchaser of their old home. This is an attractive option if the rate on the existing mortgage is lower than current rates.

www.homeTRADER.ca | VOLUME 16 ISSUE 01 | NEW CONDO GUIDE 55

condo hunterâ&#x20AC;&#x2122;s checklist

Condo hunterâ&#x20AC;&#x2122;s checklist When shopping for your dream condo, carry this list with you and take notes to help you remember what you saw, and where! condo #1

condo #2

condo #3

condo #4

Project & address:

Salesperson:

Phone:

Developer/builder:

Type:

2-storey highrise bungalow

detached conversion townhome

2-storey highrise bungalow

detached conversion townhome

2-storey highrise bungalow

detached conversion townhome

2-storey highrise bungalow

detached conversion townhome

Sq. Footage:

# of bedrooms:

# of bathrooms:

Interior appliances:

Options:

Parking facilities:

Special incentives:

Price:

Down payment:

Condo fees:

Financing available:

Other comments:

56 NEW Condo Guide | Volume 16 issue 01 | www.hometrader.ca

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www.hometrader.ca | Volume 16 issue 01 | NEW Condo Guide 57

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