Calgary New Condo Guide - May 3, 2013

CLG-CMP-1223_CNDO_GDE_CVR_MAY 2013 — FINAL

May 3 - 31, 2013 Volume 16 Issue 05

Just a short walk to everything Condos from the $190s Built for real life. cardelcONdOS.cOm

inside this issue

001-CCG_Cvr_May 3.indd 1

Making space in small kitchens

Don’t fret a ‘mortgage correction’

What are first-time buyers spending?

4/26/13 2:19:51 PM

CHBA - Calgary Region

2012

REMINGTON_CHAMPAGNE 002-Remington-QP 05-03-13.indd AD_CONDOGUIDE_MAY.indd 999 1

4/26/13 13-04-262:18:50 10:21PM AM

Get in before they’re gone. condos

final building now selling – project 70% sold

159,900*

$

+ Gst

noon – 5 pm closed frIdays

*Prices subject to change without notice. Subject to availability.

cONdOS + TOWNS

SINGLE FAMILY

INNER CITY

In communities all across Calgary

Built for real life. cardelcONdOS.cOm

14TH ST NW

4 MODELS

PANATELLA BLVD COUNTRY HILLS BLVD

HARVEST HILLS BLVD

STONEY TRAIL DEERFOOT TRAIL

Brad lOGel: 403.241.8975

9 floorplans to choose from

PANATELLA HILL NW

discover northwest calgary’s best ViSiT Our 4 mOdelS TO learN mOre. condo value, surrounded by shops, SaleS ceNTre: mon – thur: 2 pm – 8 pm 175 panatella hIll nW Weekends & holIdays: services and greenspace.

BEDDINGTON TRAIL

startInG from

Live each moment LUXURY TOWNHOMES Home, Lot and GST Starting at

$

374,900

PHASE 1

ONLY ONE HOME REMAINING

PHASE 2

NOW SELLING

NO CONDO FEES www.thebrownstones.ca

Naturally

• 1482 - 1695 sq ft (w/ partial basement development)

• Stainless steel kitchen appliances

• 3 bedroom

• Large kitchen island

• Nine foot ceilings on main floor and basement

• Maple railing with iron spindles on main floor

• Hardwood & ceramic tile on main

• Fully landscaped with fence and underground sprinkler

• Upgraded carpet on second floor • Granite counter tops in the kitchen • Counter to cabinet, tile backsplash

• Keyless entry pad • Stonetile and stucco exterior • Rear drive garage

Prices, specifications and availability are subject to change without notice. See sales representative for details. All Illustrations and renderings are artist concept. E.&O.E.

Visit the Brownstones Sales Centre at 16 Sage Meadows Circle NW Phone: 403.455.2280 Email: info@thebrownstones.ca 04 NEW CONDO GUIDE | VOLUME 16 ISSUE 05 | newcondoguide.com

Brownstones_NCG_05_13.indd 1

2013-04-22 12:59 PM

IT'S ALL YOURS. UP TO $50,000 OF FREE FURNITURE & DÉCOR INCLUDED WITH TWO OF OUR DESIGNER SUITES.

THE BOTANIST

» THE BOTANIST (Above)

» THE GQ

914 sq ft / 2 bed, 2 bath / $575,000 $45K of furniture & décor included

914 sq ft / 2 bed, 2 bath / $575,000 $50K of furniture & décor included

» MORE CHOICE 13 2 bed, 2 bath move-in ready homes under $600K.

MOVE IN TODAY! CALGARY'S TOP SELLING DEVELOPMENT. CALL NOW TO BOOK YOUR PRIVATE VIEWING. LIMITED AVAILABILITY. 403.536.8802 WATERFRONTCALGARY.COM

The developer reserves the right to make modifications to prices and availability without notice. E.&O.E.

05

CONDO GUIDE

Forward thinking for your future. Choose a home in a real community, minutes to downtown. Extra-large suites with awesome technology, features and amenities. Walk. Cycle. C-Train. Car2Go. Bridgeland has everything – plus character, boutiques, cafÊs and vitality.

1st Ave. NE

9th St. NE

7A St. NE

PRESENTATION CENTRE

Memorial Dr. NE

Calgary Zoo

06

NOW PREVIEWING

Presentation Centre Open Daily 12-6pm, Closed Fridays.

824 1st Avenue NE 403.269.2805 The developer reserves the right to make changes to the information contained herein without notice.

07

table of contents

May 3 to 17, 2013 volume 16 issue 5

22

Cranston Place

by Cardel Lifestyles

columns, news & features 010 editor’s note Columnists

016 calgaryism Calgary is the best place in Canada to raise kids by cody battershill

022 saving space Creating storage for small kitchens by sylvia daoust

040 contemplating condominiums Are amenities worth the money? by linda palfi

032 Mortgage Minute Why you shouldn’t fret over a ‘market correction’

by Peter Kinch

in the news

020 Condo News Avi Urban awarded for best multi-family community 024 Event Home-building industry celebrates its finest with SAM Awards 038 Event Streetside wins first Grand SAM for Multi-Family Builder of the Year

052 Buying and Selling First-time homebuyers showing their rational side – Genworth Canada releases results of homeownership study 058 Condo News Sawyer Silverado showsuite opens and new building released

050 trendspotting Bedroom bouquet

064 Condo News Brookfield Homes opens its doors to inner city community of Bridgeland

by elisa krovblit

070 Money Matters Money mistakes couples make by gail Vaz-Oxlade

BY heather ryan

050 condo profile Excel opens four new showhomes for Heartland Townhomes BY heather ryan

064 condo profile Brookfield Homes is creating 94 side-by-side homes in the community of Cranston

046 housing market First-time buyers expect to spend BY heather ryan $300,000, with average down payment of $48,000: BMO Home Buying Report 078 INDEX

036 make your move Brides & grooms combining households for the first time by dan hopkins

030 condo profile Jayman Modus launches Trinity townhomes in Nolan Hill

079 condo hunter’s checklist Carry this list with you when shopping for your condo 080 Homebuyers’ Help Condo Buyers’ Resource Section Project Location Maps

027 Northwest Map 015 Southeast Map 049 Satellite Communities 074 CHBA 055 Southwest Map Further intervention in housing markets 063 Inner City not warranted: CHBA Homebuyers’ Help

011 cover story Cardel Lifestyles’ Cranston Place a hit with buyers BY heather ryan

24 Vice-president, wall2wall media

Jacqueline Hill editor-in-chief

Susan Legge editor

Elisa Krovblit 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

Sara Duck Wayne Karl Elisa Krovblit

38

production manager

Bala Gnanapandithan production co-ordinator

Greg Van Sluytman Graphic Designer

Viosa Barileva national account manager, mediative

Paul Slizys PUBLISHED BY

newcondoguide.com 2891 Sunridge Way N.E. Calgary, AB T1Y 7K7 copyriGht 2013 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

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.

50

Please recycle this magazine! Wall2Wall Media participates in the Partner’s In Growth Reforestation Program through St. Joseph Communications. To date, Partners in Growth has planted over two million trees in parks, recreation and conservation areas, and other public spaces across Canada. Established in 1990, this program was started with Scouts Canada to help replenish the environment.

EDITOR’S NOTE

Coming up with the

DOWN PAYMENT

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

Getting a down payment together for a new suite doesn’t have to be a major obstacle when you have the facts straight. Canada Mortgage and Housing Corp. has a comprehensive website, found at cmhcschl.gc.ca, which can help guide you.

Not only will you find an extensive list of how-to’s, including tips and mortgage insurance information in the online step-by-step resource guide, the site also outlines Government of Canada home-ownership incentives.

As an example, first-time buyers can still take advantage of the Home Buyers’ Plan to withdraw up to $25,000

from their Registered Retirement Savings Plan (RRSP), tax-free, to add to their down payment and for other purchase-related costs. A spouse or partner can also do this, giving you up to a total of $50,000 toward your new home. To avoid tax liability on the withdrawn funds, you will be required to repay the money to your RRSP account through annual payments within 15 years.

If financial stability, pride of ownership, long-term investment and peace of mind sound attractive to you, check out what’s available in the new condominium market.

Personal use or profit?

WHY ARE YOU BUYING?

ELISA KROVBLIT

EDITOR

Wall2Wall Media Elisa.Krovblit@wall2wallmedia.com Follow me on Twitter at Twitter.com/ElisaKrovblit

When you start thinking about buying a condo, it’s always inspiring to listen to other people discuss their own real estate transactions. Some want to tell you about how happy they are that they bought their home, others are more focused on how much their real estate purchase has increased in value.

Which buyer are you? Are you looking for the perfect place to live or are you more interested in a great return on your investment?

If you’re looking to buy a condo and make it your home for a lengthy period, indulge yourself in the perfect place.

Get enough space for your comfort.

Fall in love with the nuances and details. Invest in upgrades and pick the colours that make you feel most at home.

10 NEW CONDO GUIDE | VOLUME 16 ISSUE 05 | newcondoguide.com

If real estate is a financial transaction to you, do your homework before you invest. The condo market has been hot, and the demand is still strong. Don’t purchase with your emotions – don’t fall in love with a view or pick colours and upgrades based on your personal taste. Know which features sell and which don’t. Learn what will provide a return on investment and which features buyers are most attracted to.

Ultimately, go with what will put your property ahead of everyone else’s when you choose to sell. It might be the choice of floor, the exposure or a floorplan that offers more rooms. It may not be quite your taste, but then your taste doesn’t matter on your way to the bank.

cover story

Cardel Lifestyles’

Cranston Place a hit with buyers // By Heather Ryan Offering what many of today’s

condo buyers have on their wish list such as a stellar location, fresh designs and great pricing is proving to be a winning combination for Cardel Lifestyles’ Cranston Place.

With the first building sold out, and just a handful of suites remaining in the second building, Cardel recently launched sales of

its third and final building in Cranston Place and “the response from buyers has been tremendous,” says Area Manager Judy-Lynn Lavelle. “It’s been amazing, people love the area, they love the product and we’ve already sold more than half of the 48 suites available.

“They find the location attractive because it’s so walkable,” Lavelle says. “It’s right next door to the Cranston Market, so residents can walk to Sobeys for groceries, stop at the neighbourhood pub, do their banking ... they can come home from work, park the car and walk to everything.

11

“There’s also a lot of buzz about our close proximity to the South Health Campus and the Seton Urban District,” she says, which will eventually include office and retail space, a 16-acre regional park, public library, schools and more, are both just a 10- to 15-minute walk away.

Cranston Place, which consists of 144 condo apartments in three four-storey buildings and 44 townhomes, is also attractive “because we have a number of different possession times available for buyers; they can take possession now, in the summer or at Christmas, so we can give them whatever timing suits them best, and that’s really great,” Lavelle says.

“People also adore our showsuites and our fresh new designs – they’re really beautiful,” she says, adding one showsuite in particular with a master bedroom

ensuite featuring dual sinks and a walk-in shower “is wowing buyers.”

Cranston Place presents five showhomes showcasing one townhome and four condo models, including the two-bedroom, one-bathroom 10th anniversary design and two new corner suite designs.

Floor plans in Building 3 include a one-bedroom at 624 sq. ft. that can also be reconfigured into a two-bedroom, priced starting at $187,900 plus GST, and sizes range up to 1,039 sq. ft. for a two-bedroom, two-bathroom with flex space.

These well-appointed suites that include six appliances – a larger fridge, stove, dishwasher, hood fan, energy-efficient front-loading washer

12 NEW Condo Guide | Volume 16 issue 05 | newcondoguide.com

Cranston Place presents five showhomes showcasing one townhome and four condo models, including the two-bedroom, one-bathroom 10th anniversary design and two new corner suite designs.

and dryer – islands in the kitchens and good-sized balconies, along with underground parking for most plans and titled surface stalls for the others.

There are four designer colour palettes to choose from and buyers in Building 3 can still personalize their suites.

The townhomes range from 1,248 to 1,255 sq. ft., with three bedrooms, one-and-a-half bathrooms and two titled parking stalls starting at $259,900 plus GST. With a wide range of condo and townhome models available, Cranston Place is attracting first-time buyers, young families and people already living in Cranston who enjoy the area, want to downsize and are enticed by the maintenance-free lifestyle.

Buyers at the Cranston Place appreciate that they’re just a short walk to the picturesque river valley where residents can enjoy flying fishing or relaxing along the Bow River or a hike or bike ride through fabulous Fish Creek Park.

“Brookfield has done an incredible job of developing the community of Cranston,” she says, noting there are also several schools, parks and pathways nearby, as well as Cranston’s community centre – the 22,000sq.-ft. Century Hall that includes banquet facilities, a gymnasium and skate change rooms, as well as its seven-acre park featuring an outdoor hockey rink, splash park, tennis and basketball courts and playground.

Buyers can learn more about Cranston Place by visiting the show models open Monday to Thursday, 2 to 8 p.m., and weekends and holidays, noon to 5 p.m. at 302 Cranston Rd. S.E., calling 403-457-2670 or visiting www.cardellifestyles.com.

newcondoguide.com www.hometrader.ca | Volume 16 issue 02 05 | NEW Condo Guide 13

New Brighton Club

Park

Park Future School

N e w B r i g ht o n D r S E

April Mint Condo Guide outlines.indd 1

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3/18/2013 12:30:55 PM

FA L RID CON GE

64 Ave

MCKNIGHT BLVD.

EDMONTON TRAIL

14 STREET

CENTRE STREET

INTERNATIONAL AIRPORT

16 AVENUE 12 AVENUE

68 STREET

CRI J PARK OW OHN CH L ILD AURI EB TRA LVD IL .

32 Ave

16 AVENUE

SOUTHEAST COMMUNITIES RIVE RIAL D

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36 STREET

MEMO

17 Ave

09 MONARCH

BY COVE PROPERTIES

52 STREET

ELBOW DRI VE

BLACKFOOT TRAIL

17 Ave

316 McKenzie Towne Gate SE

10 MCKENZIE TOWNE ELGIN

BY BROOKFIELD HOMES

MacLEOD TRAIL

585 McKenzie Town Drive SE

14

ANDERSON ROAD

DEERF

07

16

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14 BOULEVARD TOWNES

BY BIRCHWOOD

11 05 02 18

116 Quarry Park Way SE

COPPERFIELD

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CHAPARRAL CRANSTON

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MAHOGANY

20 21

290 Chaparral Valley Drive SE

206 Cranford Drive SE

NEW BRIGHTON

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1797 Copperfield Blvd SE

12 INNOVATIONS

BY JAYMAN CHAPARRAL VALLEY 13 MOSAIC CRANSTON

BY BROOKFIELD HOMES

OOT T RAIL

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SHAWNESSY BLVD.

114 AVE SE

W BO

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52 STREET

19

SOUTHLAND DRIVE

84 STREET

GLENMORE TRAIL

BARLOW TRAIL

GLENMORE RESERVOIR

11 CHALETS IN COPPERFIELD

BY SABAL HOMES

22 AUBURN BAY

03 04

15 EDISON

BY AVI URBAN

285 Walden Drive SE aviurban.com

16 YORK 29

BY TRICO HOMES

120 New Brighton Landing SE

17 MOSAIC MIRAGE

BY BROOKFIELD HOMES

13

347 MacKenzie Towne Gate

18 AURA OF COPPERFIELD

BY ALDEBARAN HOMES 279 Copperfield Common

01 RIVERSIDE TOWNHOMES IN CHAPARRAL VALLEY

BY CARDEL LIFESTYLES

05 MINT

BY JAYMAN MODUS

02 COPPERFIELD PARK

BY BRAD REMINGTON HOMES

06 ZEN

BY AVALON MASTER BUILDER

03 AUBURN BAY

BY BROOKFIELD HOMES

07 PRESTWICK PLACE

BY CARDEL LIFESTYLES

121 Chaparral Valley Drive SE

279 Copperpond Common S.E.

174 Auburn Bay Blvd SE

04 MOSAIC LAKESIDE AUBURN BAY

BY BROOKFIELD HOMES 27 Auburn Bay Link SE

19 CHAMPAGNE

BY REMINGTON DEVELOPMENTCORPORATION

130 New Brighton Way SE thatsmint.ca/live

Quarry Park Blvd SE remingtoncorp.com

3510 McKenzie Town Gate SE

20 CRANSTON PLACE CONDOS

BY CARDEL LIFESTYLES 302 Cranston Road SE

115 Prestwick Villas SE

21 CRANSTON PLACE TOWNHOMES

BY CARDEL LIFESTYLES

08 MOSAIC MOTIF IN NEW BRIGHTON

BY BROOKFIELD HOMES

302 Cranston Road SE

22 MAHOGANY STREET TOWNS

BY HOMES BY AVI

317 New Brighton Villas SE

13 Marine Dr SE

COPPERFIELD PARK II LOVE IT. LIVE IT. AFFORD IT.

CONDOS* FROM THE $120’S +GST Titled parking stall included.

*

www.copperfieldpark.com 403.723.0094 newcondoguide.com | VOLUME 16 ISSUE 05 | NEW CONDO GUIDE 15

CALGARYISM

// BY CODY BATTERSHILL

CALGARY IS THE BEST PLACE IN CANADA TO RAISE KIDS place to life, good schools, good health care and the freedom to pursue your dreams.

A SAFE CITY

Cody Battershill is the founder of Calgaryism and a top-producing Realtor at Re/Max House of Real Estate. He also sits on the condominium task force at the Calgary Real Estate Board. He can be reached at 403.370.4180 or calgaryism.ca.

C

algary is a place where everyone can flourish, a city where the quality of living is high and so is the opportunity to make things happen.

It is a place where you can make lasting memories and there is opportunity for all. After all, money isn’t the end all be all, enjoying where you live and maintaining a good quality of life is the most important thing for many. What’s most important is having a safe

Calgary is that city where people can feel safe and make the best opportunity for themselves and their loved ones.

As a born and raised Calgary Realtor, I could tell you of several great community-orientated neighbourhoods that are very safe places to live and have a wide range of appealing condos and homes within all price points for Calgarians from all walks of life. Places that have a strong sense of community, where people care about their neighbours’ well being and pay attention to what’s going on in the neighbourhood. Places you can walk the dog, grab a coffee or stroll down the street for dinner.

It’s these tight-knit communities that have made Calgary a great place to live and raise a family. Within the inner city places like Bridgeland, Marda Loop, Kensington and Mission are distinct neighbourhoods that are walkable and very desirable for the lifestyle and quality of living they present in the inner city.

FAMILY ACTIVITIES

Have you ever heard the saying, happy wife, happy life? Well, having happy kids is also very important and Calgary has more than enough activities and events going on every year to keep them having fun.

And when there’s no stone left unturned, no tree left unclimbed, the Rocky Mountains awaits. Nothing is better than a hike up to that majestic mountain lake in Kananaskis Country and enjoying a picnic at the top of the world, although the kids might not agree and would rather play a video game at home so bring your iPhone or Galaxy along to keep them occupied in the car.

BEST PLACE IN CANADA TO RAISE A FAMILY

MoneySense Magazine has named Calgary as the best place to raise a family in Canada for 2013. They considered a number of factors including taxes, income, education, safety and healthcare.

I love sharing my experiences as a born and raised Calgarian and letting everyone know that all of the different experiences, places and people that make our city the best place to raise a family in Canada.

It’s those that live here; you, me and the million plus people who make Calgary a safe place to live and the best place for raising families in Canada, not to mention the fifth best place to live in the world by the Economist!

Way to go Calgary!

16 NEW CONDO GUIDE | VOLUME 16 ISSUE 05 | newcondoguide.com

SOUTHEAST

17

Now

Sell

ing

STARTING AT $119,900 +GST

• 1 bdrm, 1 bdrm + den & 2 bdrm + den units; 9’ ceilings; • in-floor heat

STARTING AT $159,900 +GST

130 Ave

Copperpond Blvd

SHOW HOME HOURS: Mon-Thurs 2-7pm Sat, Sun & Holidays 12-5pm Closed Fridays

N

STARTING AT $239,900 +GST

STACKED TOWNHOMES: • 1 & 2 bdrm units; • spacious layouts FULL TOWNHOMES: • 2 & 3 bdrm units; front porch; full undeveloped basement

403.230.2225 Sales Centre located at 121 Copperpond Common SE | Register Now: www.stonecroft.ab.ca

18

Auburn Bay

PHASE 1 75% SOLD

Now

Sell

ing

Pha se

Premium Condo Living...

Premium Location Imagine unwinding in your impecibly designed and well thought out new home...

• • • • • • •

9’ Ceilings In-Floor Heat Underground Parking Stainless Steel Appliances Laminate Living Room Floors Quartz Kitchen Counter Tops Beautiful Lake Community

2

STARTING AT $211,500 + GST

SHOW HOME HOURS: Mon-Thurs 2-7pm Sat, Sun & Holidays 12-5pm Closed Fridays

403.452.4059

Sales Centre: Corner of Seton Blvd & Auburn Bay Link SE | Register Now: www.stonecroft.ab.ca

2013 POSSESSION AVAILABLE

85%

SOL

D

finally

A Blend of Quality & Style Great investment with inner city location on the park. Bus to downtown.

9’ Ceilings In-Floor Heat Underground Parking Stainless Steel Appliances Laminate Living Room Floors Granite Kitchen Counter Tops

SHOW HOME HOURS: Mon-Thurs 12-5pm Sat, Sun & Holidays 12-5pm Closed Fridays

Centre St. N

• • • • • •

STARTING IN THE 230’S

403.250.6655 4303 - 1 St. NE Sales Centre: Corner of 1 & 41 Ave. NE. | Register Now: www.stonecroft.ab.ca

Love

WHERE YOU

LIVE...

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condo newS

Avi Urban awarded for best multi-family community Avi Urban’s passion for creating

outstanding condo communities was recognized by the industry on April 13 as it won the Canadian Home Builders Association – Calgary Region’s SAM Award for Multi-Family Community of the Year.

Avi Urban, the multi-family division of Homes by Avi, also took home the Janine Coughlin Marketing Campaign of the Year award and was a finalist for 10 awards on its way to being a finalist for the Multi-Family Builder of the Year award.

“Avi Urban is honoured to be recognized by our industry for both the multi-family community and marketing campaign of the year,” says Charron Ungar, president, Avi Urban. “We worked hard, and being acknowledged for that is a good feeling.

It’s great to share the spotlight with the best in the home building industry.”

Selected as the award-winning community, the Victoria Cross townhomes in Currie Barracks are designed to reflect the traditional feel of the community; each home features unique elevations and East-Coast inspiration.

Using varied materials, such as James Hardie fibre cement siding and painted brick, each home varies in colour and texture to create a pleasing streetscape. While small details such as permanent planter boxes beneath the windows and stylish trim add an old-world charm.

The three-storey townhomes, which range from 2,100 to 2,300 sq. ft. come with a fully 20 NEW Condo Guide | Volume 16 issue 05 | newcondoguide.com

landscaped private back yard and a paved pathway leading to a detached double-car garage.

Each home exterior is landscaped with trees, mulch and greenery to enhance the beauty of the individual home, while small shrubs and grasses add to the charming community, and wrought iron fences highlighted with brick add a traditional feel.

Flanked by two parks, each townhome lines Victoria Cross Boulevard, the main street in Currie Barracks. This beautiful boulevard is fully landscaped and includes traditional park benches, defined seating areas, a paved pathway and dozens of trees, shrubs and greenery. Stone memorials of past Victoria Cross recipients stand at the end of the boulevard and highlight the historical importance of the community.

The Janine Coughlin Marketing Campaign of the Year award was for Avi Urban’s The Block.

“We knew The Block would be a community within a community, with people who love inner-city living,” says sales and marketing manager Chris Pollen. “In all of our marketing materials we used real people, all local Calgarians, who fit the profile of someone who would live at The Block; real couples, real best friends, and people who already lived downtown,” which made the campaign distinct.

Located at 9A Street and 17th Avenue, The Block is a four-storey building with 60 townhomes and apartments. A limited selection of live/work townhomes is set to be released later this year.

Two of The Block’s floor plans and one from Victoria Cross were finalists for three Best New Design awards. Two other floor plans, the 1,178-sq.-ft. Windsor C and the 1,168-sq.-ft.Warwick B at The Enclave, a collection of 136 three-storey townhomes in Castle Keep, were finalists for Best Town Homes – $295,000-$349,999.

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Saving Space

Creative storage for

// by sylvia daoust

SMALL KITCHENS you want your kitchen to work for you, this is the time to say goodbye to those impulse buys and gifts you rarely use.

Now, with a measuring tape, pencil and paper in hand, take a long hard look at your kitchen space. Scope out open spaces and take measurements before you hit the stores. Is there unused wall space? Perhaps a gap between two cabinets? What about the sides of the end cupboards? Don’t forget about the insides of pantry and cupboard doors. Measure all of these potential storage areas and take a picture of your kitchen and make shopping for supplies seamless.

Top Ten Space Saving Solutions

Sylvia Daoust, owner of Niche Designs Inc., specializes in custom storage design for small spaces.

She is a member of the POC, sitting on the National Conference Committee.

Join her blog www.nichedesignsinc.com/blog where smart solutions transform challenging spaces every week! Follow Sylvia on www. facebook.com/nichedesignsinc AND Twitter @ SylviaDaoust. Scan to WIN a “Small Space Makeover” and visit www.nichedesignsinc.com for details on services.

L

ooking for more space to store the stuff in your small kitchen?

Even in the tiniest of kitchens, a little creativity goes a long way to uncovering hidden storage potential.

Solve your space issues without renovating or spending a ton of cash on expensive organizing products.

Before you begin to implement space saving solutions there is a little work to be done. No magic organizing wand can find room for that dusty old fondue pot and breadmaker! Reevaluate what tools and appliances you use on a daily/weekly basis. The large roasting pan and seasonal items can be stored elsewhere. Do you have duplicates of utensils or a collection of shot glasses taking up valuable space? If

1. Inside Cupboard Doors – use pegboard, 3M hooks, or a magnetic surface to store measuring tools, utensils, and spice canisters.

2. Magnetic bars – mount one or two under top cabinets and keep larger knives handy without using up valuable drawer space.

3. Hanging Pots – whether displayed over the island or hung on a rod with ‘S’ hooks, your regularly used pots don’t need to hide deep in the bottom cupboard.

4. On the Wall – mount towel or closet rods to the insides of bottom cabinets to store pot lids.

5. Add Shelves – double your storage by simply adding shelves – above the sink, inside cupboards, on a wall, between two cabinets or over the door frame.

6. Use Tension Rods – vertically to store cookies sheets and cutting boards, horizontally to act as a shelf for small spice jars and tea cans.

7. Rolling Carts – slim carts on wheels can be great for storing breakfast items or baking ingredients.

8. Roll Outs – roll out drawers or baskets make bottom cupboards work harder!

Great for storing travel mugs, water bottles, plastic containers and small appliances.

9. Door Spice Rack – by simply ripping a few upper cabinets shelves to be 5 inches narrower, mount a spice rack unit on the inside of the cabinet door. You won’t miss the depth, and you’ll give yourself a smart space for spices.

10. Pantry Door, Inside & Out – if you’re lucky enough to have a pantry, use both surfaces for additional storage. Magnetic chalk paint on one side works great as a message board, with magnetic containers and canisters to store gift cards, bus passes, menus and more! Something as simple as a shoe pocket organizer hung on the back of the door provides storage for the small stuff. * these TOP 10 won’t mean much without visuals. Check out this link to see each one in action! http://pinterest.com/nichecreations/kitchen-storage-solutions/

If you need inspiration and some visual eye candy, check out our Pinterest Board, featuring the smartest kitchen storage solutions out there! Transform your cluttered, chaotic kitchen into a simple, efficient place you’ll enjoy cooking in.

22 NEW Condo Guide | Volume 16 issue 05 | newcondoguide.com

event

Home-building industry celebrates its finest with

SAM Awards // By Heather Ryan It was a night filled with

as a number of first-time and previous winners were honoured at the Canadian Home Builders Association – Calgary Region’s 26th Annual SAM (Sales and Marketing) Awards on April 13.

This year’s gala event at the Telus Convention Centre saw more than 1,600 people attend and join in recognizing the outstanding achievements by the home-

excitement

24 NEW Condo Guide | Volume 16 issue 05 | newcondoguide.com

building industry’s finest from builders and developers to marketing and sales professionals.

There was a record 758 entrants from 105 companies competing for SAM Awards this year, including two dozen companies that had never entered the competition before.

A strong group of contenders were in the running for this year’s Grand SAM Award for Multi-Family Builder of the Year, which ultimately saw Streetside Development Corporation come out on top.

It marks the first time Streetside has won the MultiFamily Builder of the Year, which also won awards in three categories and was finalist in several others.

“We were all very surprised when we heard our name called as Multi-Family Builder of the Year,” says Streetside vice-president Lisa Feist. “We are so honoured to win our first Grand SAM Award and to be a finalist in so many categories.

“There was a lot of competition this year and all excellent finalists.

I believe we all try to be innovative and leaders in our industry and we have great respect for our competitors so it’s an honour to be recognized by our peers.”

Streetside won a Multi-Family Design Award for Best New Design – 1,200 to 1,499 sq. ft.; the Advertising and Marketing Award for Best Print Ad; and Streetside’s Kevin Baragon won the Sales Achievement Award for Rookie of the Year – Multi-Family.

Streetside was also a finalist in three other Multi-Family Design Award categories.

Bucci Developments Ltd., a finalist for the Multi-Family Builder of the Year, won the Multi-Family Design Award for Best New Design – 800 to 1,199 sq. ft. and was a finalist in another Multi-Family Design category and in a Multi-Family Home category.

“The competition was stronger than ever this year and even though we didn’t come out on top as Multi-Family Builder of the Year (as we did in 2008 and 2011) we’re happy to be runners up to a company in the class of Streetside, they do a superb job,” says Shane Styles, Bucci sales and marketing manager.

newcondoguide.com | Volume 16 issue 05 | NEW Condo Guide 25

NORTHWEST COMMUNITIES

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18 SONOMA AT SAGE HILL

BY VERTICAL PROPERTIES BARLOW TRAIL

69 STREET

85 STREET

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BY STREETSIDE

17 Ave

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175 Panatella Hill NW

3951-46 Avenue NW

W

16 AVENUE

12 11

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IL N

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85 ST. NW

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9 Nolan Hill Blvd. NW

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06

06 TRINITY

BY JAYMAN MODUS

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CENTRE STREET

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newcondoguide.com | VOLUME 16 ISSUE 05 | NEW CONDO GUIDE 27

“There was a lot of competition this year and all excellent finalists. I believe we all try to be innovative and leaders in our industry and we have great respect for our competitors so it’s an honour to be recognized by our peers.”

“As a winner in one and finalist in seven of nine categories we entered I’d say we’re pretty happy,” he says. “For us the SAM Awards help to reaffirm that we’re doing something right, and being recognized by your peers for what you have designed, developed and built, is especially rewarding.”

Avi Urban, also a finalist for the Multi-Family Builder of the Year award, won the Janine Coughlin Marketing Campaign of the Year award and the Best Multi-Family Community award. Avi Urban was also a finalist for three Best New Design awards and one Multi-Family Home award.

“Avi Urban is honoured to be recognized by our industry for both the multi-family community and marketing campaign of the year,” says Charron Ungar, president, Avi Urban. “We worked hard, and being acknowledged for that is a good feeling. It’s great to share the spotlight with the best in the home building industry. Congratulations to all this year’s winners and finalists.”

Jayman Modus rounded out the group of finalists for the Multi-Family Builder of the Year award and won two Multi-Family Home awards for Best Town Home – $295,000-$349,999 and Best Apartment-Style Condo, and was a finalist in another Multi-Family Home Award category. Jayman Group of Companies won the Best Town Home – up to $294,999 category.

Jayman Modus and Jayman Innovations both won the JD Power & Associates Builder of Excellence Awards for customer satisfaction.

“I am very proud, and am bursting with pride to be part of the Jayman Modus Team and part of our SAM Award ‘wins’ this year,” says Laurie Gordon, president of Jayman Modus. “It takes a community of people who design, sell and build our condos, and who directly communicate with our customers. These Jayman Team members are our heroes.

28 NEW Condo Guide | Volume 16 issue 05 | newcondoguide.com

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condo profile

Jayman Modus

launches Trinity townhomes in Nolan Hill // By Heather Ryan

w

ith the aim of creating a design savvy, affordable townhome project, Jayman Modus has hit the target with its newest exclusive enclave community in northwest Calgary’s Nolan Hill.

Jayman Modus presents Trinity, a distinctive new project that consists of 99 three-storey, three-bedroom townhomes with double attached heated garages and half or full driveways so buyers can park up to four vehicles.

“Trinity offers unique, exclusive new townhome designs with two product types available: Boulevard Towns and Ravine Towns,” says Sandi Serr, project marketing specialist for Jayman Modus, noting the Boulevard Towns face onto Nolan Boulevard, while the Ravine Towns are on “extra wide lots with gorgeous ravine views, which is a rare find.”

30 NEW Condo Guide | Volume 16 issue 05 | newcondoguide.com

Both products offer new designs created for Nolan Hill, with the Ravine Towns designed to take advantage of the natural layout of the land and ravine.

“Both styles offer affordability, spacious floor plans with various layouts available and will appeal to those seeking maintenance-free living, first-time buyers, young couples, couples with one or two children and right-sizers,” Serr says.

The Boulevard Towns range up to 1,460 sq. ft. and start from the low $300,000s plus GST, while the Ravine Towns range up to 1,590 sq. ft .and are priced from the mid $300,000s plus GST. The designs include a garage on the first level with a flex space. In the Ravine Towns this flex space offers an opportunity for a large lower level development and includes a walk out onto a patio, while the flex space in the Boulevard Towns is ideal for a home office or storage.

“The homes all come with a balcony off the living room or kitchen and almost all of the balconies and patios are south facing, which is a really great feature All the townhomes present a spacious, open concept design that is great for entertaining, with 9-ft. ceilings on the main floor, high profile baseboards and large kitchens featuring wrap around counters with eating bars or central islands and stainless steel, Energy Star rated appliances. There are also rough-ins for air conditioning and a gas line hookup for the barbecue.

“The homes all come with a balcony off the living room or kitchen and almost all of the balconies and patios are south facing, which is a really great feature,” Serr says.

Upstairs, the master bedrooms have walk-in closets and ensuites, there are two secondary bedrooms, a full main bathroom and a laundry with the washer and dryer included. There is also an option for a double master bedroom layout each with its own ensuite and walk-in closet.

“You can also put your mark on your new townhome by choosing from three a’la cart interior finishing decor colour themes, which allows you to choose your own options like baseboards, flooring, cabinetry, counter tops and you have the flexibility to mix and match from the various themes to really personalize your home,” Serr says.

“So, no matter your style, you are in control – whether you’re contemporary or maybe a bit traditional, feel free to express yourself; now that’s something to

get excited about, plus buyers can choose to upgrade to features such as hardwood floors and quartz counter tops.”

Buyers will also appreciate Trinity’s impressive green space that includes extensive landscaping, a community tot lot, a park/sitting area so parents can relax watch their kids playing, a secluded green space with sitting area and pathways along ravine.

“With all the green space it’s like having a private oasis within the community,” Serr says, and residents can enjoy the surrounding green space, pathways and ravines in Nolan Hill.

Trinity also offers a stellar location with easy access to Sarcee Trail, Stoney Trail and 144th Avenue N.W. It’s just minutes from a variety of shops, services and eateries at nearby Beacon Hill and Creekside shopping areas, and is a quick drive to CrossIron Mills mall and the airport.

For more information on Trinity, visit the sales centre at 9 Nolan Hill Blvd. N.W., open Monday to Thursday, 2-8 p.m., and weekends, noon-5 p.m., or visit jayman.com/trinity.

newcondoguide.com | Volume 16 issue 05 | NEW Condo Guide 31

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MAKE YOUR MOVE

// BY DAN HOPKINS

BRIDES & GROOMS

combining households for the first time

Your stuff is worth a lot of money.

F

irst-time brides and grooms are older than ever

before, according to recent census figures. The median age for men marrying for the first time is now 28 and it’s 26 for women – that’s 30 per cent older than in 1960.

Because today’s first marriages are occurring later in life – not to mention second or third marriages – more often the modern dilemma is whose couch stays and tallying how many flat-screen TVs the couple has between them.

When couples married 40 years ago, they were barely into their 20s and often still living at home. The traditional wedding shower carried great value as it supplied newlyweds with all the necessities married life required, including dishes, cookware and bedding.

For the “new couple” combining households for the first time, proper planning is key to starting off on the right foot in the early years of marriage.

Here’s what we suggest the following tips for combining households for first-time marriages:

› Go through each house together, and identify which items are duplicates. Talk about each item honestly. If you can legitimately use two of something in your new life, such as televisions or stereos, go ahead and keep both, but don’t wait to have the discussion on moving day. › Do the same evaluation for small items, such as silverware, as you do for the larger items. These smaller items can add up quickly, and often produce the most basement or attic clutter. › Organize with boxes and coloured markers, available from companies like Two Men And A Truck moving company, purchase a variety of box sizes before you begin so you can appropriately tag and box both items that stay and go. › Think about donating to those in need. If a garage sale isn’t of interest, consider donating to local churches or synagogues, homeless shelters or the Salvation Army.

Experts agree, couples can successfully blend households if they take time to address the move. The key, as with all organizing projects, is proper planning.

Dan Hopkins is Chief Operating Officer, Two Men and a Truck Canada. twomenandatruck.ca 36 NEW CONDO GUIDE | VOLUME 16 ISSUE 05 | newcondoguide.com

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CONDO GUIDE

event

Streetside

wins first Grand SAM

for Multi-Family Builder of the Year // by Heather Ryan Being able to create multi-family

homes that offer great designs to suit the differing lifestyles of today’s buyers helped Streetside Development Corporation earn its first Canadian Home Builders Association – Calgary Region’s Grand SAM Award for Multi-Family Builder of the Year.

“We were all very surprised when we heard our name called as MultiFamily Builder of the Year,” says Streetside Vice-President Lisa Feist.

“We thought we had an understanding of how the points are

38 NEW Condo Guide | Volume 16 issue 05 | newcondoguide.com

totalled and didn’t think we would be finalists for the Grand SAM. When they announced the winner I had to ask ‘did they just call our name?’ We were shocked and absolutely thrilled.

“We are so honoured to win our first Grand SAM Award and to be a finalist in so many categories,” Feist says. “There was a lot of competition this year and all excellent finalists. I believe we all try to be innovative and leaders in our industry and we have great respect for our competitors so it’s an honour to be recognized by our peers.

“I talk constantly about our team’s passion, pride and commitment that goes into each of our projects and we recognize the important role we play in people’s lives – a role we take very seriously,” she says. “When you’re honoured for your work it confirms we are doing something right.”

Streetside had nine entries in the 2012 SAM Awards and won three categories, not including the Grand SAM. In the Multi-Family Design Awards, Streetside won Best New Design – 1,200 to 1,499 sq. ft. for the C1 floor plan in Hunter House, a new condo community in Silverado that offers bungalow-style condos and townhomes.

The award-winning plan is a 1,405-sq.-ft., two-bedroom, two-bathroom condo featuring bedrooms on either side of the main living space, a dedicated work space and a garage.

“It’s a great open floor plan with two terraces, large living space that is great for entertaining and a master bedroom that can easily accommodate a king-size bed,” Feist says. “It appeals to right-sizers who don’t want to compromise on space, and provides office space, ideal for people who have a home business.”

The award-winning plan is a 1,405-sq.-ft., twobedroom, two-bathroom condo featuring bedrooms on either side of the main living space, a dedicated work space and a garage.

Streetside’s B2 floor plan in Red Haus was a finalist in the Best New Design – up to 799 sq. ft. category. This onebedroom, 659-sq.-ft. plan appeals to the first-time buyer featuring open concept design maximizing space and walk-through closet in the master bedroom.

Another Red Haus plan, the C1, was a finalist for the Best New Design – 800 to 1,199 sq. ft. category. This 1,067-sq.-ft. two-bedroom, two-bathroom layout has a large bay window in a good-sized dining room giving it an abundance of natural light.

A Hunter House B3 floor plan was a finalist in the Best New Design – 1,500 sq. ft. and over category. This threestory, 1,730-sq.-ft. townhome has dual masters with ensuites on the top floor, large open layout on the second floor with U-shaped kitchen with an island and pantry, laundry and terrace off the dining area, and a garage and flex space for an office, three bedroom or rec room on the main floor.

“It’s quite special to be a finalist for Red Haus, a large project that’s been with us for a while, and for Hunter House in Silverado, a new project with new ideas. I believe this demonstrates our team’s ability to learn what works for homeowners and apply it to the right land and the right location,” Feist says.

Streetside also won an Advertising and Marketing award for Best Print Ad for Hunter House grand opening and was a

ON this PAGE Pictured left

Kevin ON this PAGE Pictured below

Ashley and Tammy ON OPPOSITE PAGE

Streetside group

finalist in the same category for a Hunter House fold out.

It was also a finalist in the Best Sales & Information Centre (Detached) category for both Hunter House and Kintalla in Redstone.

Finally, Streetside’s Kevin Baragon won the Sales Achievement Award for Rookie of the Year – Multi-Family for his work at Red Haus.

“Kevin is new to the industry and new to Streetside so we’re really happy for him,” Feist says. “Red Haus has been a flagship project for us; we’re on our fourth and final building there and it’s been a success story with a bit of Streetside flair – the red roof. It’s been both exciting and educational to see it develop over the years for us and our homeowners.”

newcondoguide.com | Volume 16 issue 05 | NEW Condo Guide 39

CONTEMPLATING CONDOMINIUMS

// by Linda Palfi

Are amenities worth the money?

Let’s review the range of services and amenities found in various highrise condo towers and some townhouse developments in Calgary.

These include: • • •

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

C

ondominium developments can offer a surprising array of amenities, each of which becomes a question for a potential buyer and for current owners. In short, are they worth their cost? As we know from watching city hall, it can be difficult politics to discuss whether to keep or terminate a service or an amenity. Yet if you’re a Director grappling with rising condo fees or a condo-home shopper considering which service you can justify buying into, the questions should be asked, and decisions should be made.

Don’t shy away from the questions and the debate.

• • • • •

Daytime front-desk (“concierge”) staff 24-hour-a-day staff Resident manager, sometimes to actually manage the property, otherwise to do handy-man work and cleaning Indoor or outdoor swimming pool and/or hot tub Tennis and/or squash court(s) Billiard room Sauna Guest suite(s)

• • • • • • •

Business centre with phones, faxes, TVs, computers Movie screening room with large-screen TV and seating Party room, library and/or lounge with seating, card tables, and sometimes with kitchens Gymnasium ranging from modest to well-equipped Golf putting green Cable or satellite television service included in condo fees Shared compact car for in-town use

While I’m sure I’ve missed some, this is an impressive list of possible amenities – and every single one of them costs money. A rough rule of thumb is that each one of these will cost homeowners five cents per month per square foot of their suite property. If the service or amenity is clearly budgeted for, as opposed to being blended with other items (it shouldn’t be), multiply the annual cost by your unit factor and divide by 12 to see what it costs you per month. Oh – your unit factor (UF) is your percentage share of the annual expense, expressed over 10,000, so just move the decimal over two spaces, and you’ll have your percentage. For example: UF of 140 means you pay 1.40 per cent of the annual cost.

If you’re a condo home buyer, it’s not yet your business whether this building should sponsor a given amenity. It’s only your decision whether to buy in or not. As an owner, though, you have input through your Board into the debate about whether any one of these should be continued. One building I’m aware of backed up dump trucks and filled the indoor pool with gravel. Another closed down a spacious but rarelyused party room and amended the condo plan to create a new unit of private property, then sold it for cash to top up the building’s reserve fund. Some will decide to continue cablevision services paid through condo fees, while others will opt out and leave it to each owner to subscribe or not.

Don’t shy away from the questions and the debate. Some guest suites, party rooms and other amenities are rarely used and don’t justify their costs, yet are popular with some owners. Whether to terminate one or another and save money, and maybe net some one-time cash selling off an asset, is a debate that is sometimes necessary.

40 NEW Condo Guide | Volume 16 issue 05 | newcondoguide.com

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Mortgage Minute

Why you shouldn’t fret over a

// by Peter Kinch

‘ market correction’

P

Peter is founder of the Peter Kinch Mortgage Team and the PK-Approved group of Dominion Lending Centres mortgage brokers across Canada, and he is co-owner of Pacific Bridge Mortgage Investment Corp. Feel free to forward any questions directly to Peter at pkinch@peterkinch.com

ick up any newspaper today and no one could blame you if you got a little worried about the state of the economy or the fear of a pending market correction in Canadian real estate. Are Canadians taking on too much debt? Have mortgage rules gone too far? Is there a housing bubble about to burst? What if there is a market correction?

The real question is, do Canadian homeowners or prospective buyers need to be concerned? Every time there is talk about a market correction, the tone is quite negative. But let’s take a closer look at that situation: rather than argue about whether we may have a market correction, let’s analyze what it really means to Canadians if there is one.

First-time homebuyers:

If you’re a first-time homebuyer, you have likely felt the pinch of the rising cost of housing, and the new mortgage rules certainly haven’t helped any either. So a slight market correction would be welcome news for you; you can still get into homeownership with only five per cent down, but since your maximum amortization is now limited to only 25 years, a drop in pricing is exactly what you’ll need to be able to get into this market. ›› Conclusion: A market correction is a good thing for you.

Current homeowner buying or selling – moving up or downsizing:

If you are a homeowner and you’re looking for the right time to sell your house so you can buy another, you may be concerned that the price of your current home is dropping. But, let’s assume the value of the house you are selling drops by 10 per cent. Let’s also assume that you plan to buy another home (whether upsizing or downsizing). Remember that the person selling their home to you is going through the exact same thing. In other words, if the value of your home dropped 10 per cent, so too did the value of the new home you are buying. Focus on what your bottom line “net” is, rather than what you thought or had hoped to sell your home for. ›› Conclusion: The net effect of a market correction is likely zero.

Real estate investor or second-home buyer:

If you are buying real estate as an investment, this is the perfect market condition for you. When there are more sellers than buyers, you have more bargaining power. If you are able to negotiate a better deal and pay a little less for the property you are looking for, it simply makes the deal that much more affordable. ›› Conclusion: You should be hoping for a market correction.

continued on page 44…

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43

Mortgage Minute continued…

If you’re a first-time homebuyer, you have likely felt the pinch of the rising cost of housing, and the new mortgage rules certainly haven’t helped any either. current hoMeowner with no Plans to sell:

The main reason we worry about a housing correction is the fear that it will erode our home equity and net worth. A significant amount of net worth of Canadians is tied up in their home equity, which is the foundation for a lot of retirement plans – so there is obvious concern.

But should there be? For the majority of Canadians, the plan is to stay in their current house for at least the next three to five years. So here’s a simple fact: equity is only gained or lost the day you sell. In other words, if the value of your house were to drop by 10 per cent tomorrow, you may feel anxiety over the drop in your net worth – but it would only be on paper unless you actually sold your house tomorrow. If you have no intention of selling soon and you can still afford your monthly payments, then all you need to do is sit and wait until the market bounces back – which it has always done for the past 100 years. ›› conclusion: A market correction may very well have zero impact on you.

In the end, the headlines will continue to talk of impending market corrections. The key for you is to decipher one of three things: 1. Is this a real concern for you?

2. Is this an opportunity? Or, 3. Are you getting worked up about nothing? ›› bottom line: a lot of people will fret about this topic over the water cooler tomorrow morning – but the majority of them really don’t need to.

044 NEW CoNdo GuidE | Volume 16 issue 05 | newcondoguide.com

northWEST

45

IN THE NEWS

First-time buyers expect to spend

$300,000, with average down payment of $48,000: BMO Home Buying Report According to the BMO First-Time Home Buyer’s Report, the average amount

Canadians planning to buy their first home in the next five years plan to spend is approximately $300,000, with an average down payment amount of $48,000 (16 per cent).

The report also revealed:

› On average, first-time homebuyers expect to be mortgage-free in 20 years, with 20 per cent estimating it will take between 10 and 19 years › Those planning to enter the real estate market for the first time are twice as likely to choose a fixed rate over a variable rate mortgage (46 per cent versus 20 per cent) › Furthermore, first-timers who expect interest rates to stay the same or decrease over the next five years, still prefer fixed rate over variable rate mortgages (39 per cent versus 23 per cent)

“Buying a home is one of the most important financial decisions one can make,” says Laura Parsons, mortgage expert, BMO Bank of Montreal. “It’s crucial that those planning to enter the market are well prepared – not only to manage their costs, but also to pay off their mortgage as soon as possible. Determining what your mortgage payments and overall costs of home ownership will look like, and then living in that financial reality for a year before entering the market, can be an effective strategy.”

Average Spend on First Home $300,000

Parsons adds that it is encouraging to see that buyers say they are in a position to pay down their mortgage in 20 years or fewer.

“Homebuyers can shorten that timeline further by choosing a shorter amortization and taking advantage of accelerated payment options.”

According to the report, two-thirds of first-time buyers (66 per cent) say the latest changes to mortgage regulations – which included reducing the maximum amortization for government-insured mortgages to 25 years from 30 years – have not affected their buying timeline, while one-in-five (19 per cent) say they will have to wait longer before buying as a result.

“A shorter amortization is the most responsible approach to home financing; it’s something BMO has been encouraging their customers to consider for years, as it means becoming debt-free sooner,” says Parsons.

Additional findings include:

› Six-in-10 (63 per cent) first-time buyers have made cutbacks to their lifestyle to save for their first home, with just one-in-four (27 per cent) expecting their parents or other family members to help them pay for their first home › The majority (59 per cent) of first-time buyers have had to hold off buying their first home because of increasing housing prices › The same number (59 per cent) wish they had bought their first home five years ago.

Average House Price by Province * NS

Nb

nfld

qc

on

mb

sk

ab

bc

$211,772

$156,119

$295,588

$271,912

$392,962

$259,397

$280,915

$378,685

$529,922

46 NEW Condo Guide | Volume 16 issue 05 | newcondoguide.com

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newcondoguide.com | VOLUME 16 ISSUE 05 | NEW CONDO GUIDE 49

condo profile

Excel

opens four new showhomes for

Heartland Townhomes // By Heather Ryan

e

xcel Homes is giving buyers even more reason to love Heartland Townhomes with the opening of four new showhomes in Cochrane.

“We’ve been operating out of a fairly small space so we’re really excited about moving in and opening our showhomes,” says Area Manager Lyle Jessett. “People are also thrilled about being able to walk through and see the designs and features first-hand.”

Excel Homes is crafting Heartland Townhomes in three- and four-plexes, with the showhomes 50 NEW Condo Guide | Volume 16 issue 05 | newcondoguide.com

showcasing four of eight models – the 1,399-sq. ft.

Walton, the 1,458-sq.-ft. Birchwood, the 1,484-sq.-ft.

Paxton and the 1,532-sq.-ft. Stapleton – in a new fourplex that opened April 20.

“Since we launched, the response has been tremendous,” says Jessett, who expects traffic to pick up even more with the opening of the showhomes. “The sales have been unbelievable, with more lots being released in a few weeks.”

“Our buyers love the floor plans, the designs and the excellent price point,” he says. “A real point of excitement for people is the fact that 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 first-time buyers because it’s such a great value, but we’re also seeing a mix of buyers, including

Exteriors present Arts and Crafts architectural elevations with stylish details including stone treatments. those 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 with a limited number of third-storey lofts available. All the townhomes offer three bedrooms, two-and-a-half bathrooms and a laundry on the lower level, main floor or upstairs, depending on the model.

Four of the eight models also offer a rear attached single-car garage and rear deck.

“All the townhomes also come with a huge front veranda that has walls on both sides so you can sit out there and enjoy the privacy,” Jessett says. “It’s a great outdoor space and people really love it.”

The townhomes offer quality along with affordability and come with a high level of standard features including 9-ft. ceilings on the main, hardwood and ceramic tiles floors and an appliance package with fridge, stove, dishwasher and over-the-range microwave. Some of the kitchens have islands with breakfast bar seating and some have pantries.

“Buyers love that they can really personalize their homes,” Jessett says, as there are numerous interior choices available such as six cabinet colours, five cabinet styles and 15 paint colours.

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 highefficiency furnaces.

Exteriors present Arts and Crafts architectural elevations with stylish details including stone treatments.

The rear lane access with rear parking ensures an aesthetically pleasing front streetscape.

Another reason to love Heartland is its great location on the west side of Cochrane with stunning mountain and river valley views and convenient direct access to Hwy. 1A making it easy for residents to commute to Calgary or head to the mountains.

“They’re starting to develop the park across from our project, which will include a big soccer field and playground, so that will be great for residents who have children or grandchildren visiting,” Jessett says.

Residents will appreciate 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 Homes is crafting Heartland Townhomes in three- and four-plexes, with the showhomes showcasing four of eight models – the 1,399-sq. ft.

Walton, the 1,458-sq.-ft. Birchwood, the 1,484-sq.-ft.

Paxton and the 1,532-sq.-ft. Stapleton – in a new four-plex that opened April 20. newcondoguide.com | Volume 16 issue 05 | NEW Condo Guide 51

BUYING AND SELLING

First-time homebuyers showing their rational side GENWORTH CANADA RELEASES RESULTS OF HOMEOWNERSHIP STUDY

ACCORDING TO A NATIONAL SURVEY conducted by Genworth Financial Mortgage Insurance Company Canada (Genworth Canada), first-time homebuyers are adjusting to the new mortgage requirements and making informed choices about homeownership.

The annual poll, completed in conjunction with the Canadian Association of Credit Counselling Services (CACCS), asked 1,514 Canadians questions about their financial well-being and preparedness. The 2013 survey revealed that there was a significant rise in the number of recent first-time buyers who say they put down more than 20 per cent on their homes (56 per cent vs. 36 per cent in the 2012 survey).

In fact, the number of people that said it is getting harder to save for that down payment is on the decline (50 per cent vs. 55 per cent in 2012) with more first-time buyers finding it easier to save money nine per cent, up from five per cent in 2012). In addition, only 17 per cent of respondents thought it was a good time to buy, suggesting that low interest rates alone are not enough to entice Canadians to purchase a home.

“Canadians entering the real estate market are making financially astute choices by saving longer and putting down larger deposits on their homes,” said Brian Hurley, Chairman and CEO of Genworth Canada.

“They continue to value homeownership and are being responsible about the way they 52 NEW CONDO GUIDE | VOLUME 16 ISSUE 05 | newcondoguide.com

enter into mortgage debt. This trend bodes well for a soft-landing of the housing market.”

Among first-time homebuyers, the proportion saving for less than two years has decreased by nearly 30 per cent, while the proportion saving for more than five years rose by more than 50 per cent. This appears to indicate that fewer first-time homebuyers feel a sense of urgency about entering the real estate market, which is consistent with the fact that fewer expect house prices to rise in the next twelve months.

“There is still a strong need for Canadians to have a better grasp on their financial situation,” said Henrietta Ross, CEO of CACCS. “More than 40 per cent don’t think their credit rating reflects them or don’t know what their credit rating is. Counselling could help ensure they are financially prepared to enter and maintain substantial investments, such as homeownership.”

The interviews were conducted by Environics Research Group using an online methodology during the week of February 11-19, 2013.

Genworth MI Canada Inc. (TSX: MIC) through its subsidiary, Genworth Financial Mortgage Insurance Company Canada (Genworth Canada), is the largest private residential mortgage insurer in Canada. The Company provides mortgage default insurance to Canadian residential mortgage lenders, making homeownership more accessible to first-time homebuyers.

Genworth Canada differentiates itself through superior customer service, a robust risk management framework and innovative processing technology.

For almost two decades, Genworth Canada has supported the housing market by providing thought leadership and a focus on the safety and soundness of the mortgage finance system. As at December 31, 2012, Genworth Canada had $5.7 billion total assets and $3.0 billion shareholders’ equity. Find out more at www.genworth.ca.

The Canadian Association of Credit Counselling Services (CACCS) represents a Canada-wide network of accredited, not-for-profit agencies and affi liates offering preventative education and confidential services to clients experiencing financial difficulties. With a focus on financial counselling education, accreditation of agencies and certification of Financial Counsellors, CACCS is also committed to national research and policy initiatives concerning personal finance and industry advocacy.

To find a certified Credit Counsellor and qualified Financial Coach at an accredited Member Agency, call the CACCS central referral service at 1-800-263-0260 or visit www.caccs.ca for more information.

first time homebuyers: KNOW BETTER THAN TO SPEND $6 ON COFFEE? GET ON OVER TO ON THE DOUBLE DOUBLE Very close to Tim’s, Genesis Centre, Cross Iron Mills.

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Avi Urban is has now opened the brand new show suite and released the second of three buildings in this unique south Calgary multi-family development. The show suite, a full scale Two Bedroom A floorplan, has been receiving rave reviews by both new and current homeowners. As well, 25 per cent of the 48 new homes available in the second of three buildings have already been spoken for.

Located at 175 Silverado Boulevard SW, these condos range from 700 to 1,100 square feet, with one bedrooms starting in the $180’s and two bedrooms starting in the $220’s. Condos at Sawyer Silverado feature open concept floorplans and stellar interior features like barn doors, tile in the kitchen and bathrooms and extended height cabinetry. Set in the centre of the established community of Silverado, the Craftsman-style exteriors fit perfectly with extended corner balconies, steep pitched rooflines, cedar shake accents and James Hardie fibre cement siding.

As Charron Ungar, president of Avi Urban, explains, “Avi Urban is very pleased with the phenomenal response Sawyer has received from the Calgary marketplace. We were confident that we had a great development to offer, but the response has so far exceeded our expectations.”

“I am always very happy when our homes resonate with today’s homebuyer,” shares Ungar. “To me it means that we listened well to the feedback our Avi Urbanites gave us. Ultimately if we do our jobs well we will constantly learn from what our purchasers and even our non purchasers tell us. That creates a winning development.”

58 NEW Condo Guide | Volume 16 issue 05 | newcondoguide.com

The Sawyer Silverado sales centre and show suite are located at 175 Silverado Boulevard SW and are open from Monday to Thursday from 2pm to 8pm and weekends and holidays from 12pm to 5pm. More information on Sawyer Silverado can be found by visiting www.aviurban. com/Sawyer or calling (403) 536-7282.

About Avi Urban: Avi Urban is a Calgarybased builder of quality multi-family homes.

Recognizing a demand for innovative multifamily developments, Homes by Avi created Avi Urban in 2000. From the beginning the goal was to offer homeowners the ultimate in comfort and function, while building innovative, thoughtful townhome developments that bring urban aesthetic to a livable product. By redefining multi-family development, Avi Urban has earned its place as an innovative market leader. Avi Urban’s broad range of communities include a highly modern live/work development in the inner city, street-oriented row housing in exclusive neighbourhoods and large scale, multiphase townhome developments.

For more information: Joy Syratt, Avi Urban 403.536.7206; jsyratt@homesbyavi.com

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way Walk

5

5th Ave NW

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w N

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SHOW SUITE

Kensington Rd NW

id Br

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2 nd Av e

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5 AVE N

12 08

835 5th Ave. NW Coming Soon Show Suite 306 10th St. NW vencondos.com

3

EN

V 2A

SUNNYSIDE STATION

ROTARY PARK

PRINCE’S ISLAND PARK

05

06 a venue

by Grosvenor & Cressey 1035 5th Ave. SW

07 d rake by grosvenor

16

EAU CLAIRE04 MARKET

09

01

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

10

4 AVE S

06

5 AVE S

08 P IXEL

by Battistella

13

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

6 AVE S

MILLENNIUM PARK

02

CONVENTION CENTRE

9 AVE S

15

07

MOUNT ROYAL VILLAGE

VICTORIA PARK / STAMPEDE STATION

TALISMAN SPORTS CENTRE

4 ST W

5 ST W

CLIFF ST

17 AVE S

26 AVE S

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.

CALGARY EXIBITION AND STAMPEDE PARK ERLTON / STAMPEDE STATION

PROSPECT AVE

10 ST W

23 AVE S

MACLEOD TR

COLONEL BELCHER HOSPITAL

11 1 ST E

12 AVE S

1 ST W

2 ST W

4 ST W

5 ST W

8 ST W

10 ST W

11 AVE S

FORT CALGARY

CITY HALL

14

OLYMPIC WY

GREYHOUND BUS TERMINAL

26 AVE S

09 S olaire

By La Caille Group

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

10 b ridgeland crossings By apex city homes Coming Soon bridgelandcrossings.ca

11 keynote

220 12th Ave. SW

12 st. johns tenth street by streetside 10th St. & 3rd Ave. NW

13 F IRST

by FRAM + Slokker East Village, Calgary, AB

03 4 3 park by vericon real estate ventures 43park.ca

04 W aterfront

by Anthem Properties 216 Riverfront Ave. S.W.

14 6 th & tenth coming soon by lamb development corp.

15 t he block by avi urban

Sales Centre 1022 17th Ave. SW

16 steps bridgeland

by GIUSTINI BRIDGES IN. Sales Centre 921 - 1st Ave. NE www.stepsbridgeland.com

Visit our SHOW SUITE

306 10th Street NW

newcondoguide.com | Volume 16 issue 05 | NEW Condo Guide 63

Gro

1035 5

condo newS

BROOKFIELD HOMES

opens its doors to inner city community of Bridgeland

d its y’s ood

3)

Brookfield Homes multi-family division is thrilled

to announce its first inner city development in the desirable community of Bridgeland.

“Mosaic Bridgeland is all about creating a home that’s fit for the ideal inner city lifestyle,” shares Kelly Halliday, Sales and Marketing Manager with Brookfield Homes. “With extraordinary proximity to downtown and just steps away from the bow river pathway and an array of eclectic shops, Mosaic Bridgeland truly is inspired living.”

The 18 one-of-a-kind walk-out townhomes will range from 1096 sq. ft. to 1480 sq. ft. and will feature two models, the Sienna and Mikado, both featuring an open concept layout, centre island kitchen, and two and three bedrooms with 2 and a half baths.

“We wanted to design a home with great value,” adds Halliday. “Starting from the low $400’s, Mosaic Bridgeland offers homeowners not only a prime location, but also a functional floorplan that includes luxurious standard features, including an attached garage, 2nd floor balcony and walk-out patio.”

According to Halliday, Brookfield Homes worked closely with an interior designer to choose high-end, contemporary interior finishings to compliment the overall look of the new homes.

Finishings include a stainless steel KitchenAid appliance package, tile, granite or quartz and hardwood.

The sales centre for Mosaic Bridgeland will open May 11, 2013 and will be located at 101 12 ST NE. Halliday says they expect to break ground as early as next month. The 1700 sq. meter site is 64 NEW Condo Guide | Volume 16 issue 05 | newcondoguide.com

situated on the corner of McDougall Road and McDougall Court NE. – 100 McDougall Road NE. About Brookfield Homes

Brookfield Homes Calgary, a division of Brookfield Residential Properties, pursues a mission to create the “best places to call home.” The Brookfield team has the passion, the expertise and the local knowledge to craft homes and neighbourhoods that speak to homebuyers at every stage of life. The company is an award-winning industry leader with an exceptional reputation for quality, design and customer service. Brookfield Homes Calgary is the proud recipient of the 2012 Avid Gold Award for Best Customer Experience in AB, 2012 Avid Benchmark Award for Top 25% Best Customer Experience of Homebuyers Nationwide and is 2012 J.D. Power and Associates Builder of Excellence.

For more information contact Jo Sarpal, Communications and Social Media Specialist at (403) 516-5890 or jo.sarpal@BrookfieldHomes.com www.buildwithbrookfield.com

LDAUNCH O S L

INNER CITY

% ER 50HS AFT

O 3M

NT

WE’RE MAKING OUR MARK CONSTRUCTION BEGINS! A FANTASTIC SELECTION OF PLANS STILL AVAILABLE

8th and 10th SW will never be the same again.

MARK on Tenth is about to reach up to create a brand new skyline. With construction under way, now is the time to buy into this legacy tower. With a 10% deposit, you can choose one bedrooms from $220,000, or two bedrooms from $380,000.

There’s lobby art by Douglas Coupland, a luxurious rooftop lounge and fitness centre, with an urban garden landscape on the third floor. We said we’d make our mark. Here it is.

MARK (corner of 10th Ave & 8th St SW)

REGISTER NOW AT QUALEX.CA/MARK

One bedrooms starting from $220s Two bedrooms starting from $380s

8TH ST SW

VISIT OUR DISCOVERY CENTRE

This is not an offering for sale. Such offering may be made by disclosure statement only. E.&O.E.

10TH AVE SW

1120 10th Ave SW, Calgary Open Daily Noon to 5PM, Closed Fridays Tel: 403.244.2428 65

INNER CITY

PICTURE PICTURE PICTURE PICTURE

LIVE YOUR LIVE YOUR LIVE YOUR LIVE YOURPICTURE PICTURE LIVE YOUR LIVE YOUR

IN KENSINGTON IN KENSINGTON INKENSINGTON KENSINGTON IN IN KENSINGTON KENSINGTON SCAN TO VIEW

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2013 POSSESSIONS 2013 POSSESSIONS

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FRIE10AM 6PM, 11AM 1 1TUES 20- K N S -I N G TSAT/SUN ON R D -N5PM W B A T T I S T E L L A1 1 2 TUES FRI 10AM 6PM, SAT/SUN 11AM 5PM 0403.290.1664 K E N S I N G T O pixelcondos.ca N RD- N W DEVELOPMENTS B A T T I S T E L L A TUES - FRI 10AM - 6PM, SAT/SUN 11AM - 5PM pixelcondos.ca 403.290.1664 DEVELOPMENTS

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2013 2013POSSESSIONS POSSESSIONS 2013 POSSESSIONS

1 1 403.290.1664 2 0 K E N S I N G T O Npixelcondos.ca RD NW 1 -1 FRI 2 0 10AM KEN SING T O N 11AM R D - N5PM W TUES1 1 -N6PM, SAT/SUN 2 0 K E S I N G T O N RD NW TUES - FRI 10AM - 6PM, SAT/SUN 11AM - 5PM

BATTISTELLA TUES - FRI 10AM 403.290.1664 D E V E L OB PA MT ET NITSST E L L A 403.290.1664 BDAETV TE ILSOTP EM LE LN TAS 403.290.1664 DEVELOPMENTS

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Shut the front door!

.

0K .* $1 IME VE D T SA ITE M LI

And with a Drake townhome, you don’t just get any front door. You get one that opens onto the shops, bistros and cafes along the legendary 17th Ave. What’s even better, these townhomes also give you up to 1,250 square feet of space plus your own outdoor living room. Nice. Starting from $525,900. Save an additional $10,000 for a limited time.

Drake Sales Centre will be closing. Last chance for preconstruction pricing!

Show suites located at 850 – 16th Ave. SW Open 12-6pm Mon-Thurs, 12-5pm Weekends. Closed Friday.

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66 NEW CONDO GUIDE | VOLUME 16 ISSUE 05 | newcondoguide.com

Move in this Fall.

*See a sales representative for details. E & O.E.

INNER CITY

newcondoguide.com | VOLUME 16 ISSUE 05 | NEW CONDO GUIDE 67

FROM

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money matters

// by gail vaz-oxlade

Money couples mistakes make

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

S

ometimes, a poor way of relating can really muck up the money.

Whether you’re planning a walk down the aisle or you’ve already been hitched for aeons, there are some common mistakes couples make that can throw a wrench into their moneyworks.

01 Keeping secrets. I’m truly

amazed at the number of people who hide things from their partners. They go shopping, bring home a bag of stuff, and rip off the tags – because, of course, their partners are morons and won’t recognize a new outfit when they see it. One woman shoved her new purchases in the laundry hamper, first thing. Another kept her new purchases in the trunk of her car until she could slide them into the house. Many people lie about what

they’ve paid for an item because if it’s a good enough deal they can slip it past their buddy. And then there are all the folks who hook up only to find their partner is a financial disaster.

If you can’t be open about what you’re buying, that should tell you something. If you think your partner is going to object to your spending, listen up! And if you’re planning to mate and you haven’t sat down to talk about your money, you’re foolish, plain and simple.

Communication is job one in the survival of any relationship, and if you can’t bare your financial soul to your partner, if you can’t trust that person to tell you the truth, you should not be getting married.

02 Not having a budget. It isn’t going to come as a surprise to you that

I think every couple should have a budget. Whenever you combine two lives, two ways of looking at things, two spending profiles into one, you need to have a plan to ensure both bodies are on the same page about where the money should be going.

Having come up with a budget you both agree to, it’s easy to decide what to buy and when. You simply ask each other, “Where does this fit in the budget?” If it doesn’t then you work together to make room, cutting a little of her golfing and his beer-with-the-boys to come up with the cash to make the purchase. Working together with a plan beats the bejezus out of flying solo blind and bumping into each other.

A budget can be a relationship-saver when one of you is a spender and the other is a saver, since by having a plan you can address both your needs. It’s particularly important when you are both spenders heading to the brink of bankruptcy. Knowing where you stand financially means you can make informed decisions about your spending without a huge debt hangover.

03 Putting one guy in charge. It’s not unusual for one person to assume

the nitty-gritty of daily finances. It often falls to one partner to pay the bills, check the insurance coverage, decide on how to invest the retirement savings, figure out how much to put away for education savings, negotiate with lenders, pay the taxes – the list is virtually endless. Often it’s because one partner is more inclined toward these tasks. The problem is that when one person is excluded, or totally abdicates responsibility, it means the other can mess things up with no monitoring or grow resentful at always having to do the detail. It’s important for each partner to not only to feel involved in the big financial decisions but also understand the day-to-day details. continued on page 72…

070 NEW Condo Guide | Volume 16 issue 05 | newcondoguide.com

FIRST CHOICE ON THE 16TH.

Inner city

NEW RELEASE OF TEN SPECTACULAR RIVER VIEW SUITES ON THE 16TH FLOOR. This is your very last chance to purchase a fabulous new condominium, with river and downtown views, at FIRST. FIRST is now well over 70% sold and under construction.

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newcondoguide.com | Volume 16 issue 05 | NEW Condo Guide 71

13-0380_FIRST_CG_AD_MAY3.indd 1

13-04-22 3:11 PM

money matters

continued…

Taking turns managing the chequebook, and having regular conversations so that both of you are clear about what’s going on, means you’re both in the know and working to the same ends. It also means that one person doesn’t have to deal with everything, while the other merrily laughs off the stress and frustration with, “You’re managing the money, so this is your problem to deal with.” (Yes, there are people who say this).

04 denying the debt. Regardless of

who has the debt, the impact on the family unit will be significant. If you can’t be debt free when you get hooked up, the very least you should have is a plan for how you’ll get that debt paid off.

Never sign for each other’s debt.

When you do, you assume responsibilities that may choke you to death. If your buddy needs help paying off the debt, you can do that without putting your name on the paperwork.

“But he won’t be able to get a car if I don’t help him,” I’ve heard. Then he shouldn’t have a car. “But she’ll pay an outrageous amount of interest.” Then she shouldn’t take the loan. “We’re partners in everything.”

Maybe that’s how you feel now, but how will you feel when (s)he doesn’t pull her/his weight on the debt repayment, and you’re on the hook for his or her past self-indulgence?

As for blowing your brains out on a big wedding when you’re walking around with a ton of debt, give your heads a shake! Wedding mania, exotic honeymoons, and a houseful of brand new furniture is wonderful, providing you have the money to pay for it. Going into debt for massive self-indulgence is down right dopey.

05 sweating the small stuff. If you’re going to spend your relationship

getting your britches in a knot over every little thing, you’re going to be miserable. Or you’re going to get divorced. You have to figure out which battles are worth fighting, and when negotiation makes more sense.

If the small stuff adds up to big problems it’s usually because you don’t have a budget and aren’t on the same page when it comes to your priorities. It’s not unusual for couples to spend $30 a month here, $25 a month there, $60 on this, $97 a month on that, and when it’s all added up, it’s a whopping amount of money. If you’re tracking your expenses, it’s easy to decide what has to go and when to stop shopping.

One of the ways some couples deal with the money is to allot each partner a weekly or monthly “allowance” that can be used for anything that body desires. Since the allowance is part of the budget, the plan stays in place while the individuals have some personal freedom when it comes to how they’ll spend their personal money.

Once you have a slush fund you can each spend as you wish without questions or recriminations; you can then agree that on purchases above a certain amount you’ll consult with each other before buying.

06 Failing to plan for emergencies. While no one likes to think about bad

things happening, the fact is that bad things do happen to good people. If you don’t have a stash of cash at the ready to deal with whatever life throws your way, you won’t have the means to cope. One of the big upsides of joining up is that you’re able to act as a safety net for each other through life’s storms. But that doesn’t happen magically. And often couples over-estimate their partner’s ability to take over the entire financial burden should one partner lose a job, someone become ill, or suffer some other disaster. It takes a plan. And part of that plan includes creating a pretty hefty emergency fund. Another part includes reducing your risks in whatever ways possible. Every couple should have enough money available to cover six months’ worth of living expenses. And each partner should make it a priority to get adequate insurance coverage.

Communication and negotiation are the keys to dealing with money issues when you partner. Of course you also need some practical moneymanagement skills to actually pull the whole thing off.

072 NEW CoNdo GuidE | Volume 16 issue 05 | newcondoguide.com

IT’S CALLED MAKING AN ENTRANCE River and city-view homes in the West End brought to you by two trusted developers:

REGISTER TODAY: AvenueWestEnd.com 403-530-8455 This is not an offering for sale. Such an offering can only be made with a disclosure statement. E.&O.E.

73

IN THE NEWS

Further intervention in

HOUSING MARKETS NOT WARRANTED: CHBA THE FEDERAL GOVERNMENT should refrain from further

intervention in the housing market by adjusting mortgage lending rules, according to the Canadian Home Builders’ Association.

In his inaugural address at the recent 70th National Annual CHBA Conference in Lake Louise, Alta., Incoming President Deep Shergill of Calgary said that such intervention represents “a hammer” that impacts all housing markets, both those that are healthy and those yet to fully recover from the recession.

Shergill, President of Prominent Homes Ltd. of Calgary, called on the government to be prepared to take remedial action if housing activity falls below demographic demand or if price stability is threatened.

“It seems less than forthright to constrain consumers’ ability to buy a new home – a real asset, while allowing usurious credit card interest rates to bury many consumers in non-asset backed debt,” Shergill said.

Working to maintain a stable financing environment would be one of seven priorities in his plan of action for the coming year, he said. The others are regulation, government-imposed costs, a skilled and productive workforce, land availability, market intelligence and investment in research and development.

Canada Mortgage and Housing Corp. (CMHC) has played a central role in maintaining stability in mortgage markets since the financial meltdown of 2008, Shergill said. “We are extremely pleased that the federal government recognizes the corporation’s continued effectiveness.”

The industry’s success in improving energy efficiency illustrates the benefits of collaboration with government in research and development.

A CHBA analysis of the energy performance of an Ottawa home built in 1975 compared with one built

74 NEW CONDO GUIDE | VOLUME 16 ISSUE 05 | newcondoguide.com

today shows a 66 per cent improvement. Comparing similar models of family cars over the same period showed a maximum improvement in energy efficiency of 16 per cent.

Shergill said it’s time to roll back the chronic overregulation of the new-home building industry.

Government-imposed costs are pushing house prices ever higher and must be rolled back and reduced, Shergill said. “So long as governments persist in confusing the effect of low interest rates with real housing affordability, they will fail to recognize the steady erosion of housing affordability.”

The same pressures that add to the cost of a new home also inflate the value of existing homes, with no value-added. As a result there is a multiplier effect through the resale housing market every time a new charge, fee or levy is applied to new development.

In some urban centres the relationship between house prices and household incomes has reached a crisis point.

The growing underground economy is also a result of the rising tax burden on housing.

In consultations on the federal government’s plan for long-term infrastructure, Shergill said the CHBA has pointed out that calls for new development to pay its own way deflect from the failure of politicians to invest in basic infrastructure over many decades.

“What some call an infrastructure deficit should more correctly be recognized as a legacy of failed leadership. Requiring new development to pay for bad decisions in the past is unacceptable.”

The CHBA hopes the next federal budget will outline a national plan for infrastructure investment that will give priority to housing affordability and choice.

newcondoguide.com | VOLUME 16 ISSUE 05 | NEW CONDO GUIDE 75

METIS TRAIL

northeast communities 05

SADDLETREE DR.

DE

52 STREET

ER

05 Coventry Station

by HUNTER RESIDENTIAL DEVELOPMENTS

03 09 80 Ave

13007 Coventry Hills Way NE www.coventrystation.ca

10

CALGARY INTERNATIONAL AIRPORT

64 Ave

CENTRE STREET

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

12 AVENUE

32 Ave

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

IVE

36 STREET

09 t he gardens of saddlestone By genesis builders group

17 Ave

329 Saddlelake Dr. NE

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

52 STREET

BLACKFOOT TRAIL

IVE ELBOW DR

Skyview Ranch Rd & Skyview Ranch Dr

02 4 3 park by vericon real estate ventures

11 KINTALLA

By STREETSIDE DEVELOPEMENTS

43park.ca

MacLEOD TRAIL

150 Redstone Grove NE www.kintalla.com

ANDERSON ROAD

DEERF

52 STREET

BARLOW TRAIL

GLENMORE TRAIL

SOUTHLAND DRIVE

114 AVE SE

OOT T RA

IL

W BO

NEW BRIGHTON

IL

Mac D LEO TRA

U

MARQ

13007 Coventry Hills Way NE CHAPARRAL

AIL

NE TR

LOR IS OF

COPPERFIELD

IL

T

EVIT S McK JAME

TRA

EK P ARK

M

TTO BO

CRE

SHAWNESSY BLVD.

07 a rrive @ SKYVIEW RANCH

By PARTNERS DEVELOPMENT Group

IAL DR

R MEMO

17 Ave

FISH

6 Saddlelake Place NE

16 AVENUE

04 MEMO 02 01 RIAL D RIVE

GLENMORE RESERVOIR

06 Saffron

By Genesis Builder’s Group

68 STREET

EDMONTON TRAIL

14 STREET

16 AVENUE

Coming Soon bridgelandcrossings.com

06

MCKNIGHT BLVD.

08

01 bridge crossings by apex city homes

64 Ave

FA L RID CON GE

NOSE HILL PARK

84 STREET

IL TR A PI

04 Steps BRIDgeland

by GIUSTINI BRIDGES IN. Sales Centre 921 - 1st Ave. NE www.stepsbridgeland.com

NA SH AG AN

68 Street NE & 80 Avenue NE

07

COUNTRY HILLS BLVD.

FO OT TR AIL

VD. LS BL

HIL NTRY COU

03 i ndigo sky at saddleridge by carlisle group

STONEY TRAIL 12 11

From the mid $200’s

CRANSTON

ABURN BAY

Two bedroom, two bathroom townhomes with attached garage Located in the established community of Coventry Hills

www.CoventryStation.ca 76 NEW Condo Guide | Volume 16 issue 05 | newcondoguide.com

587-896-6107

12 Arrive @ redstone

By PARTNERS DEVELOPEMENT GROUP Coming Soon

* 1308

STARTING FROM

TWO OR THREE BEDROOM, THREE-STOREY HOMES

MONTHLY, INCLUDING GST AND CONDO FEES.

Artistic representation only, may not be exactly as shown. Developer reserves the right to make changes.

TWO OR THREE BEDROOM, THREE-STOREY HOMES

STARTING FROM

THE BEST TOWNHOMES IN REDSTONE. re pl ds a to za n n e e

1308*

$

MONTHLY, INCLUDING GST AND CONDO FEES.

@StreetsideYYC

redstone st

Register at kintalla.com

redstone grove ne

Visit our sales centre at 150 Redstone Grove NE or call 587.353.9201

metis trail ne

Everyone’s looking to the northeast for great value and more space. Kintalla gives you all that and more!

SALES CENTRE

redstone dr ne

128 ave ne

CHBA - Calgary Region

2012

*Based on a mortgage amount of $239,000 + GST with 5% down payment, 3 year term at 2.99% for 25 years with monthly payments. GST and Monthly Condo fees included. Price and renderings subject to change at developer discretion.

77

CONDO GUIDE

Index of advertisers

read more about our advertisers!

43 Park Auburn Bay Avenue Bridgeland Crossing Brownstones Champagne Chestermere Townhomes Concept Copperfield Copperfield Park Coventry Station Cranston Place Creekside Village Drake The Edge Edison Eighty5nine Einstein Encore at Kincora Evanston Square First The Gardens Groves of Varsity Heartland Townhomes Highland Park Indigo Sky Kintalla Jumping Pound Ridge The Landings Mahogany Street Towns Mark on 10th Mint Mosaic Riverstone Panorama West Pixel Prospect Rise Red Haus Ravenswood Riverfront Pointe Sage.stone Sawyer Sonoma Steps Stone Creek Landing Trinity Varsity Landing Ven Villas at Watermark Waterfront Zen – Auburn Bay

Vericon Real Estate Ventures Stonecroft Developments Grosvenor & Cressey Apex City Homes Genesis Builders’ Group Remington Development Corp.

Slokker Canada West Inc. Jayman Modus Stonecroft Developments Brad Remington Homes Hunter Developments Cardel Lifestyles Carlisle Group Grosvenor Streetside Developments Avi Urban Vertical Properties Providence Developments Carlisle Group Streetside Developments FRAM Genesis Builders Group Statesman Excel Homes Stonecroft Developments Carlisle Group Streetside Developments Slokker Canada West Inc. Statesman Homes by Avi Qualex Jayman Modus Brookfield Homes Cardel Lifestyles Battistella Avi Urban Streetside Developments Slokker Canada West Inc. Carlisle Group Greenview Developments Avi Urban Vertical Properties Giustini Bridges Inc. Carlisle Group Jayman Modus Carlisle Group Bucci Developments McDonald Developments Anthem Properties Avalon Master Builder

78 NEW Condo Guide | Volume 16 issue 05 | newcondoguide.com

Streetside Developments

Pullout Insert

75 19 73 6 4 2 7 48 18 84 76 1, 11-13 68-69 66 53 83 57 59 68-69 43 71 4 47 49-51 19 68-69 77 7 54 21 65 14 17 3 66 26-27 37 7 68-69 45 82 41 67 68-69 29-31 68-69 62 33 5 23

homebuyers’ help

Condo Buyers’ 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

% 10 Years

15 Years

20 Years

25 Years

30 Years

5.00%

10.58

7.88

6.57

5.82

5.34

5.25%

10.70

8.01

6.74

5.96

5.49

5.50%

10.82

8.14

6.85

6.10

5.64

5.75%

10.94

8.27

6.98

6.25

5.79

6.00%

11.07

8.40

7.12

6.40

5.95

6.25%

11.19

8.53

7.26

6.55

6.11

6.50%

11.31

8.66

7.41

6.70

6.26

6.75%

11.43

8.80

7.55

6.85

6.42

7.00%

11.56

8.93

7.69

7.00

6.59

7.25%

11.68

9.07

7.84

7.16

6.75

7.50%

11.81

9.21

7.99

7.32

6.91

7.75%

11.94

9.34

8.14

7.47

7.08

8.00%

12.06

9.48

8.28

7.63

7.25

8.25%

12.19

9.62

8.44

7.79

7.42

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

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

01

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

Multiply this figure by the amount you need to borrow.

Divide by 1,000.

02

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

06

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

03

07

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.

04

Refer to the chart on the opposite page. Look down the left column and locate the interest rate you expect to pay. Line this up with the amortization period of your choice.

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

05

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.

80 NEW CONDO GUIDE | VOLUME 16 ISSUE 05 | newcondoguide.com

compAre mortGAGe rAtes For your BesT deAL 2 Years

3 Years

4 Years

5 Years

AGF Trust

varIaBle

-

6 Months

4.650

1 Year

3.040

3.200

3.240

3.340

3.490

ATB Financial

2.600

4.000

3.100

3.140

3.700

4.390

3.140

Bank of Montreal

3.100

4.000

3.000

3.040

3.650

4.640

5.240

Bank of Nova Scotia

3.100

4.550

3.750

3.890

3.990

4.390

4.990

BMO

3.100

4.000

3.000

3.040

3.650

4.640

5.240

CIBC Mortgages

3.200

4.450

3.000

3.140

3.650

4.390

5.240

Canadian Western Bank

3.200

4.000

3.000

3.040

3.650

4.640

5.240

Canadian Western Trust

3.200

4.000

3.000

3.040

3.650

4.640

5.240

First Calgary Financial

-

4.000

2.390

3.140

2.990

3.290

3.290

First National Financial

2.800

3.950

2.740

2.690

2.790

2.990

3.040

HSBC Bank Canada

3.100

4.450

3.600

3.950

4.450

4.990

5.240

ING Direct

3.000

-

3.000

3.000

2.790

3.250

3.080

Investors Group Trust

3.000

4.000

3.000

3.140

3.650

4.640

5.240

Laurentian Bank Canada

3.200

4.400

3.090

3.140

3.700

4.640

5.240

London Life

3.000

4.000

3.000

3.140

3.700

4.640

5.240

Manulife Bank

3.000

4.450

3.000

3.050

3.100

3.100

3.090

Manulife Trust

-

4.450

3.000

3.050

3.100

3.100

3.090

National Bank

3.200

4.000

3.100

3.140

3.700

4.640

5.240

Peace Hills Trust

-

4.500

3.100

3.350

3.600

3.850

3.950

President’s Choice Fin’l

3.200

6.040

3.140

3.200

3.240

3.350

3.440

Royal Bank of Canada

3.000

4.000

3.000

3.040

3.650

4.640

5.240

Servus Credit Union

-

4.000

3.000

3.040

3.650

4.390

5.240

T-D Mortgage

3.200

4.000

3.000

3.040

3.650

4.640

5.240

Your Neighbourhood C.U.

-

-

3.150

3.250

3.350

3.390

3.190

This information is current as of March 4, 2013 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.

newcondoguide.com | VOLUME 16 ISSUE 05 | NEW CONDO GUIDE 81

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