Calgary New Condo Guide - July 5, 2013

Jun 28 - Jul 26, 2013 Volume 16 Issue 07

waterfrontcalgary.com INSIDE inside THIS ISSUE this issue

001-CCG_Cvr_June 28.indd CONDO GUIDE

MAINTENANCE Why real estateFEES, investing Astill TRUE BARGAIN makes sense

1

HOLIDAY GUIDE: What condo bylaws DECORATING don’t permit

THE VIEW: Make a WHAT ARE YOU LOOKING grand entry AT?

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RiveR views. Just the FiRst thing to take YouR BReath awaY.

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The renowned CresseyKitchen™ features a revolutionary walk-through design that creates a larger kitchen, more storage space, and so many beautiful extras like a gas cooktop, wine rack and full-size French Door refrigerator.

The desirable West End neighbourhood offers that rare balance between beauty, tranquility and urban energy, with shops, boutiques and the Bow River Pathway located in your own front yard.

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newcondoguide.com | Volume 16 issue 07 | NEW Condo Guide 07

table of contents

Jul 5 – 26, 2013 volume 16 issue 7

11 Waterfront Anthem Properties

columns, news & features 010 editor’s note Columnists

020 calgaryism Calgary – One accolade after Another by cody battershill

024 saving space Streamline your entryway – DIY storage solutions by sylvia daoust

036 contemplating condominiums Condominium bylaws: What is not allowed? by linda palfi

038 Industry updates Thinking Green when buying a new home

by Jim Rivait

060 mortgage Minute Why real estate investing still makes sense

by Peter Kinch

in the news

016 in the news Waterfront dry during flood BY heather ryan

050 In the News Avi Urban receives Calgary Award for corporate environmental responsibility 056 Information Where to find flood-related information and relief Homebuyers’ Help

011 cover story Great Outlook for Anthem Properties’ second installment of Waterfront BY heather ryan

022 Homebuyers’ Help Top five tips for first-time buyers 030 condo profile Partners Development Group launches ARRIVE at Redstone BY heather ryan

042 condo profile Genesis presents upscale living with the Brownstones in Sage Meadows BY heather ryan

063 Homebuyers’ Help Condo Buyers’ Resource Section 066 INDEX Project Location Maps

015 Inner City 027 Northeast Map 033 Southeast Map 041 Northwest Map 049 Southwest Map 059 Satellite Communities

30 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

production manager

Bala Gnanapandithan production co-ordinator

Greg Van Sluytman

42

Graphic Designer

Viosa Barileva national account manager, mediative

Paul Slizys PUBLISHED BY

2891 Sunridge Way N.E. Calgary, AB T1Y 7K7

newcondoguide.com 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.

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Wall2Wall Media is a trademark of Yellow Pages Group Co. in Canada. aDVertisinG rates

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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.

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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.

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

CALGARY MOVING FORWARD

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

Thank you for picking up this issue of New Condo Guide.

Calgary is busy rebuilding and is proud to be on the mend. We wanted to make sure you have the latest resources at your fingertips in order access information regarding flood relief efforts. Turn to page 56 for a full list of social media accounts, websites and resources aimed at improving and facilitating support. In terms of new condo projects now being constructed, many have been unaffected, but others may experience some delays.

Those builders and developers who were affected by the flooding will have a general idea of the timelines and will be able to offer more details on a case-by-case basis.

Calgary wants to keep moving forward, and we as a business plan

to keep on offering you the latest news and developments throughout the summer months no matter what it takes! Whether you’re considering a condo near the water or a golf course or a downtown penthouse, builders and developers are designing homes with interiors that maximize every square foot of living space.

In today’s hectic world, your new home will be your retreat, so it’s important to find a place that suits your needs and lifestyle. In this issue, we profile new communities which offer the perfect place to put up your feet, plus the latest industry news and features about buying and owning a new condo.

We hope you enjoy this issue and look forward to hearing from you.

AFTER THE FLOOD

ELISA KROVBLIT

EDITOR

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

It’s a hard time for Calgarians. With half of the city shut down and so many residents displaced and evacuated, it’s hard to think about what will happen after the flood.

Calgarians are resourceful. It’s a strong city full of resilient and proud residents who are anxious to get past the flood. Regardless of whether you’ve been affected directly or indirectly, it’s going to change the city. There will be a lot of rebuilding and a lot of displacement.

But one thing is for certain, Calgary will pull together and make it happen. It’s a city of proud residents who don’t give in to mother nature – from Chinooks and summer highs, to 40 below and now flooding.

Here, at New Condo Guide, we’ve been greatly concerned for our

10 NEW CONDO GUIDE | VOLUME 16 ISSUE 07 | newcondoguide.com

readers, our colleagues and our advertisers. We’ve heard stories of personal loss and of flood damage on a massive scale. There are some deep and wide holes being dug for condos, and right about now some of them look more like lakes than foundations for luxury towers.

But that’s the city’s strength, and its beauty. This hasn’t caused life to stand still, there have been many stories of neighbours pulling together, of random acts of kindness and of generosity and selflessness.

While the engineering and physical repairs may take quite some time, Calgary’s spirit hasn’t been hit.

We look forward to better times but don’t ignore times of adversity.

cover story

Great outlook for

Anthem Properties’ second installment of Waterfront // By Heather Ryan

Boasting a premier address

along the Bow River, quality features and incredible amenities, Outlook, Anthem Properties’ second installment at Waterfront, is a great place to call home.

Located in the upscale urban community of Eau Claire, Anthem Properties has crafted Waterfront on the riverfront, located between the city centre and Prince’s Island Park, providing residents with an enviable location and lifestyle, which includes exceptional views of the river, mountains and city lights.

“Waterfront has enjoyed significant success since the launch of the project’s first two towers in phase one, which brought 450 suites to the market that are now almost sold out,” says Greg Zayadi, director, sales and marketing. “We expect that success to continue with Outlook, our next phase, which includes an additional 174 suites and one guest suite.”

“We’ve had a huge amount of support from the Waterfront community, which includes Waterfront homeowners who are bringing their friends and family to the project, to realtors, who are either buying for themselves or are bringing clients in as homeowners and investors,” Zayadi says. “The response has been so amazing that we’re expecting to sell more than 120 units in Outlook through June and into July, so we’re very happy about that.”

11

Waterfront’s sales associates Stella Lau and Will Yeung have enjoyed the development’s success to date and have been busy previewing and preparing for the Outlook sales launch in July, which consists of the Tower, a 16-storey building with 115 suites, and the Terrace, a four-storey building with 60 suites.

Outlook offers a wide variety of floor plans to choose from between the two buildings with one bedroom suites ranging from 409 to 592 sq. ft., one-bedrooms plus dens ranging from 615 to 730 sq. ft., two bedrooms ranging from 808 to 1,188 sq. ft. and two bedrooms plus dens ranging from 1,270 to 1,436 sq. ft., in addition to a selection of penthouse suites.

“The price point ranges from the low $250,000’s to $1 million-plus, making Outlook attractive to a wide range of people, from first-time buyers looking for affordability, to downsizers and empty nesters who are moving from a larger home and don’t want to compromise on space or quality, and who also desire a maintenance-free lifestyle.” Yeung says.

Homes at Outlook include high-end interior features and finishings such as: over height ceilings, quartz countertops, wood laminate floors throughout, European style kitchens with stainless steel appliances, in-suite laundry with washer and dryer, breakfast bars, full-height backsplash and more.

“The suites present open concept floor plans with a European-style that features clean lines and a contemporary feel,” Lau says. Each suite also comes with oversized windows, balconies and at least one parking stall in the heated, secured underground parkade.

“The Terrace offers the same features as the Tower and because of its close proximity to the river pathway, buyers will have great views of the river,” Yeung says.

Residents of both the Tower and the Terrace will have full access to Waterfront’s extraordinary onsite amenities including: an executive

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Eau Claire, Outlook’s surrounding neighbourhood, is well-established and offers a variety of amenities such as restaurants, shops and services all within walking distance.

concierge service, a 2,000 sq. ft. gym with his and hers change, shower and steam rooms, a 10-person indoor whirlpool, a private owner’s lounge, a 16-seater movie theatre room, car wash bays in the parkade and two guest suites – one in each phase.

“Waterfront is sought after because of its location along the river and its proximity to Prince’s Island Park,” Zayadi says. “Buyers also love the great amenities, the quality interior features, the grand lobby and the executive concierge service, which provides a real sense of arrival and a nice presence.”

Eau Claire, Outlook’s surrounding neighbourhood, is well-established and offers a variety of amenities such as restaurants, shops and services all within walking distance. Additionally, Anthem has a retail component included in the development’s first phase that will offer further convenient services to residents. Finally, a Plus 15 located just across the street allows residents to easily walk to work downtown, and with lush river pathways literally at the doorstep, going for a jog or a stroll outdoors is a no-brainer.

Zayadi notes that Anthem Properties also has two more upcoming sites at Waterfront, and when it’s fully developed, the community will be home to more than 1,000 residents.

To learn more about Outlook at Waterfront, visit the presentation centre, which includes a 517-sq. ft. one bedroom showsuite, at 216 Riverfront Ave. S.W., open Saturday to Thursday from noon-5 p.m., call 403.536.8802 or visit: www.waterfrontcalgary.com.

Due to the recent flood, there is additional interim information.

Please find a post-flood update on Outlook at Waterfront on page 16.

newcondoguide.com | Volume 16 issue 07 | NEW Condo Guide 13

Inner city

RILEY PARK

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5

5th Ave NW

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EAU CLAIRE04 MARKET

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newcondoguide.com | Volume 16 issue 07 | NEW Condo Guide 15

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in the news

Waterfront dry during flood // By Heather Ryan What was to be a typical opening weekend for Outlook ,

Anthem Properties’ latest phase of their Waterfront community in Eau Claire, turned out to be far from the standard as it coincided with the Bow River spilling over its banks last month.

Despite its riverfront location, the entire Waterfront community, including two already completed and occupied towers, survived the largest flood in Calgary’s history without any damage whatsoever.

“It was amazing considering that Waterfront sits right next to the river pathway at the entrance to Prince’s Island Park,” says Greg Zayadi, director, sales and marketing, who was among a group of Anthem employees who arrived in Calgary June 20 from Anthem’s Vancouver office to participate in the Outlook launch.

“On Thursday night from 4 p.m. to 7 p.m., we hosted a VIP event for about 100 residents, registrants and Realtors,” Zayadi says. “The river looked like it was running a little fast, but you could still walk over to Prince’s Island Park.

We noticed crews had started sand-bagging along the river around 7 p.m. so we knew something was up at that point and a police officer also informed us that there may be evacuations if the water level continued to rise.

“We have 449 completed homes in Waterfront, and at midnight, the police came on the PA system informing residents of a mandatory evacuation order,” he says. “By 7 a.m. on Friday, the power was shut-off in the entire neighbourhood.”

With the power out, Anthem’s emergency system for Waterfront kicked in, says Paul Faibish, vice-president, development. The system includes a diesel-run generator, which supplied power to keep the elevators running, powered emergency lighting in the common areas, kept key fobs functioning, and, most importantly, maintained the operation of the building’s comprehensive sump pumps.

“It was great to see the emergency system, which we built for this exact situation, functioned flawlessly, so we’re really pleased with that result,” Faibish says. “We have a four-storey parkade with parking for 1,000 vehicles and our water-proofing system and sump pumps kept it dry.”

16 NEW Condo Guide | Volume 16 issue 07 | newcondoguide.com

At one point, when diesel fuel trucks could not get into downtown due to the flooded streets, the team on site rolled up their sleeves and hefted jerry cans full of fuel to keep the generator going and emergency power operational.

“Seeing the emergency system work as it did was testament to our design team and overall construction quality,” says Faibish. “This was the biggest test the system could possibly have faced and it passed with ease.”

“After seeing the devastation of the flooding firsthand, it was heartening to see how Calgarians reacted during such a crisis, their resilience and willingness to help each other out was remarkable to watch,” Zayadi says. “We’re also grateful that they share the confidence we have in the recovery of this city and the integrity of the Waterfront community. We have a number of buyers currently under contract to buy at Waterfront and they remain excited to move in. The flood was a profound experience for all of us and it’s something I’m sure we will all remember for very a long time.”

Anthem’s planned public opening for Outlook on June 22 has been rescheduled to July 20, however, you can make inquiries to preview at anytime. Additionally, there is a wide selection of immediate occupancy suites available in Waterfront. For more information, call 403.536.8802 or visit www.waterfrontcalgary.com.

ESTIVAL. REASON NO. 806 LONGBOARDING DOWN MEMORIAL DRIVE. REASON NO.807 PRIME SUN-TANNING GRASS WITHIN SIGHT. REASO ON THE RIVERBANK. REASON NO.809 FISHING ON THE BOW. REASON NO.810 REGGAEFEST. REASON NO.811 SOUTH FACING PATIOS. REASO WITH FRIENDS AT RILEY PARK. REASON NO.813 MORNING RUNS ON THE WATER. REASON NO.814 “BULLDOGS’ ON JULIOS BARRIO PATIO ORGETTING YOUR CELL PHONE TO GO PLAY OUTSIDE. REASON NO.816 FINISH YOUR RIVER RAFT AT YOUR FRONT DOOR. REASON NO.817 BB OWN VIEWS. REASON NO.818 WINE THEN WALK. REASON NO.819 PICNIC IN PRINCES ISLAND PARK. REASON NO.820 SWIMMING IN THE BOW. PIN CLASS OUTDOORS. REASON NO.822 SKYLINE SUNSETS. REASON NO.823 SUNNYSIDE. REASON NO.824 PLAYING CATCH. REASON NO.82 EST FRIEND ON AN ACTUAL WALK. REASON NO.826 BOOTCAMP IN THE PARK. REASON NO.827 WATCHING “BOW RIVER GLOW” FROM HOME PRICES DO NOT INCLUDE GST, E. & O.E. MOONLIT STROLLS ALONG THE WATER. REASON NO.829 GETTING CAUGHT IN THE RAIN. REASON NO.830. FEWER SONGZA WORKING P ONGZA ENTERTAINING COOL FRIENDS PLAYLISTS. REASON NO.831 LARPING IN THE PARK. REASON NO.832 SUNDAY FUNDAY. REASON NO.8 HE RIVER. REASON NO.834 CAPPUCCINOS AND CARDS ON THE NEW BOARDWALK. REASON NO.835 HIKE THE STAIRS AT CENTRE STREET.

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CALGARYISM

// BY CODY BATTERSHILL

CALGARY – ONE ACCOLADE AFTER ANOTHER Here are some of the most exciting accolades Calgary has received as of late. #1 CITY IN CANADA TO LIVE - 2013

MoneySense magazine has ranked Calgary, Alberta as the top city to live in all of Canada out of 200 cities! Over 33 factors are taken into account including employment opportunities, house prices, weather and household income, to name a few.

Canada is an amazing, beautiful, vast country with many unique and beautiful cities, and if Calgary were a person I would buy them a drink of congratulations for earning top honours.

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, Alberta has an exciting story to tell. A story about recognition as a top destination for living and doing business in both Canada and around the world!

As a born-and-raised Calgarian, it doesn’t get much more exciting than this. When you see multiple newspaper headlines proclaiming your home is one of the top cities for things such as cleanliness, quality of life and prosperity it makes you proud.

It’s a magnificent story unfolding before our very eyes, one that has put Calgary at centre stage – not only in the national community, but internationally as well.

#1 CITY IN CANADA TO RAISE A FAMILY - 2013

You could say being the best place to live goes hand in hand with being the best place to raise a family. According to MoneySense Magazine, this is true. They found Calgary to be the best place to raise a family in Canada for 2013.

Live in Calgary for a little while and you will see why! Friendly people, safe communities, pathway space, art space, park space, strong employment opportunity, low crime and high incomes are only a few reasons why! #1 CLEANEST CITY IN THE WORLD 2013

For three years Calgary has been named as one of the top three cleanest cities in the world by Mercer Global Financial and HR Consulting. In 2013 the city managed to take the #1 spot. Factors include sewage system quality, air pollution, traffic congestion, water drinkability and availability and waste removal.

The City of Calgary has taken many initiatives to make it a cleaner, more environmentally friendly place to live. The Blue Bin and Too Good To Waste recycling programs are two of the most innovative ways to reuse and recycle. #2 PROSPEROUS CITY IN THE WORLD 2013

Calgary has been named the second most prosperous city in the world by the Toronto Board of Trade’s annual prosperity rankings.

A consistently strong economy has kept Calgary at the top of many indicators used to determine scores, placing it second only to Paris and in front of London. The report looks at 24 major metropolitans in the world. #5 CITY TO LIVE IN THE WORLD IN 2010, 2011 AND 2012

The Economist Livability Survey has found Calgary to be the 5th best place to live in the world in 2010, 2011 and 2012! 30 different factors are considered including education, safety, healthcare, infrastructure and environment.

Of 7 billion people, roughly 1.25 million Calgarians have the privilege of living in the 5th most livable city in the world! That’s only 0.018 per cent of the world’s population who get to enjoy the fruits of living in such a wonderful place!

WHAT’S NEXT FOR CALGARY?

If the past is any indicator of what’s to come, Calgary’s culture and consistently strong economy will continue to propel it towards candidacy for many more awards and recognition as one of the top places to live in the world!

Thanks for being cool Calgary.

20 NEW CONDO GUIDE | VOLUME 16 ISSUE 07 | newcondoguide.com

1. ACCESS TO CTRAIN & CAR2GO PUTS DOWNTOWN JUST MINUTES AWAY 2. REAL LIVING SPACES WITH FULL-SIZED REFRIGERATOR & KING-SIZED BEDROOMS

*

3. FUTURE PROOF AIR-CONDITIONED HOMES STARTING FROM $299,900 4. FABULOUS DESIGNER INTERIORS AND CONCRETE CONSTRUCTION

BY APEX CITYHOMES

1st Ave. NE 9th St. NE

7A St. NE

5. FOR A LIMITED TIME ONLY YOU CAN OWN WITH JUST 5% DOWN!

Memorial Dr. NE

*

Presentation Centre 824 1ST Avenue NE, Calgary Open Daily 12-6pm, Closed Fridays 403.269.2805

STARTING FROM $299,900

Calgary Zoo

Some conditions apply. Total deposit required to purchase is 10% of the purchase price. Bridgeland Crossings extends our special relationship with onsite financial institutions who will work with you to fulfill the 10% deposit requirement with 5% loan on Approved Credit. Deposit loans must be fully qualified and approval is not guaranteed by the developer.

HOMEBUYERS HELP

TOP 5 TIPS FOR fi rst-time buyers MORE THAN EVER, FIRST-TIME HOMEBUYERS

are weighing their options before embarking on the Canadian dream of owning a home. “We want consumers to be comfortable with the financial responsibilities of owning a home, so it’s important to determine what they can afford in order to maintain a reasonable lifestyle once they’ve made the leap,” says Phil Soper, president of Royal LePage Canada.

Your stuff is worth a lot of money.

SOPER OFFERS THESE TIPS FOR TIME HOMEBUYERS: 1. DETERMINE YOUR NET WORTH. Total your assets

(cash, investments and savings) and subtract your liabilities (loans, lines of credit and credit cards). A positive number is a good sign you may be ready to purchase your first home.

2. OBTAIN MORTGAGE PRE-APPROVAL . There are many different mortgage options available on the market today. Thoroughly investigate the terms and rates available, and once you have settled on a rate, term and amortization period, apply for mortgage pre-approval with your lender. Mortgage preapproval presents you as a serious purchaser, to both real estate agents and sellers.

3. CONSIDERING HIRING A REAL ESTATE AGENT. Top agents have extensive experience and demonstrate dedication and commitment to helping their clients. Ask your family and friends for a referral, or explore real estate sites to read profiles on agents, including their areas of expertise and languages spoken. A real estate agent will have knowledge of accurate, real-time market data to leverage your negotiating position, as well as access to condos before they are released to market.

4. BE REALISTIC. Choose a home that is within your means Keep in mind that you will need to set aside extra funds for ongoing home maintenance and potential increases in utilities, taxes, condo fees and mortgage rates.

Protect it all for as little as

21

$

per month.

With AMA condo insurance you can protect everything you own — without breaking the bank.

Get a quote and see how affordable it can be.

5. CONSIDER RENTING OUT A PORTION OF YOUR HOME. Consider buying a home with the potential to provide added income. Renting out a spare room can put extra money in your pocket, helping you to pay down your mortgage faster.

Alberta Motor Association Insurance Company

AMAInsurance.ca | 1-866-989-6490 22 NEW CONDO GUIDE | VOLUME 16 ISSUE 07 | newcondoguide.com

THIS IS WHAT SMART DESIGN LOOKS LIKE.

Saving Space

// by sylvia daoust

Streamline DIY storage your entryway solutions I’m guessing you are more than ready to make some changes in this area of frustration. Let’s start the process and streamline this space with smart, simple storage.

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.

› Make a list of the items that are a must for this area. What do you need to grab on the way out the door every morning? › Grab some empty bins, pull everything out of the space and sort. Your categories should be family member names, not named by item. Don’t forget the family pet! › Find a secondary home for infrequently used and out-of-season items. › Before you go shopping, measure the width of the walls for potential storage, and check how much depth you can “steal” from the path into the home. › Scope out potential storage pieces that will help keep footwear and coats off the floor. Great local destinations include HomeSense, Rona, and IKEA. (Don’t forget your measurements and tape measure!)

Not all of us have the space or excess cash to afford a custom fit, locker-style solution. Getting creative with storage is a lot more fun and can often provide more space to stash your stuff! Take a moment to envision my Top Five Storage Stashers in your entryway, save a ton of cash, and enjoy the function they bring.

1. Wooden Crates – painted or stained, crates can be mounted to the wall for

I

f you’re entryway is a tight space, it can quickly become a dumping ground for coats, shoes, backpacks and sporting equipment. Tripping over the excess day after day while searching for your purse and keys is not a great way to start your day.

By the end of the week, your main entryway has become more of a ‘Do Not Enter’ zone.

Getting creative with storage is a lot more fun and can often provide more space to stash your stuff!

open cubby storage, fitted with castors individually or as a set of three to four, turned over with a cushion on top for seating.

2. Wire Wall Baskets – these provide inexpensive “pockets” of space for the small stuff: hats, sunglasses and gloves. The best part, they don’t protrude into your pathway.

3. IKEA Expedit Units – mount these vertically to the wall, or use them horizontally with added legs. (This leaves just enough room to stash shoes underneath.) Add baskets with the names of each family member and keep your stuff contained!

4. Memo/Magnet Zone – magnetic bars (meant for knives) are a great place to keep keys. Metal cups attached to these bars can keep small items like sunglasses, wallets, and bike locks. Attach a small memo board to the side of the vertical unit for reminders and messages.

5. No Ordinary Hook Unit – think outside the box and mount a painted wood pallet to the wall. Hang an assortment of “S” hooks from the pallet for coats, backpacks and leashes. These hooks can easily be moved to accommodate the season and differing height requirements.

Taking the time to make this high-traffic space function better is well worth it.

Keep it simple and only store what is needed in this area. Getting out the door every morning will be a breeze!

24 NEW Condo Guide | Volume 16 issue 07 | newcondoguide.com

LIVE LIVEYOUR YOUR

VE YOUR

PICTURE PICTURE

PICTURE

IN KENSINGTON KENSINGTON IN VIEW SHOWSUITE OPENING SOON

SCAN TO OUR VIEW VIRTUAL OUR TOUR VIRTUAL TOUR

IN KENSINGTON VIEW OUR VIRTUAL TOUR

FALL/WINTER 2013 POSSESSIONS BATTISTELLA DEVELOPMENTS

battistella.ca

BATTISTELLA

DEVELOPMENTS

P R E S E N T A T I O N C E N T R E 2013 POSSESSIONS

1120 KENSINGTON RD NW | 403.290.1664

pixelcondos.ca 1120 KENSINGTON RD NW TUES - FRI 10AM - 6PM,

SAT/SUN 11AM - 5PM

403.290.1664

pixelcondos.ca

Shut the front door!

FALL/WINTER 2013 POSSESSIONS

STELLA PMENTS

lla.ca

K. .* 10 ME $ PVE R TIE S E N T A T I O N C E N T R E D A S 1IT1E2 0 K E N S I N G T O N R D N W | 4 0 3 . 2 9 0 . 1 6 6 4 M I L pixelcondos.ca

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.

403.264.1703

drake17.com

Move in this Fall.

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

newcondoguide.com | VOLUME 16 ISSUE 07 | NEW CONDO GUIDE 25

NORTHEAST

I’ve always wanted an attached garage – now I can work on my car whenever I want.

Plus I have a work bench and there’s tons of storage.

“

Build your stories at Kintalla in Redstone, the best townhomes in the northeast. re pl ds a to za n n e e

CHBA - Calgary Region

redstone st

redstone grove ne

metis trail ne

SALES CENTRE

2012

Multi-Family Builder of the Year

redstone dr ne

128 ave ne

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

3 GREAT STORIES ABOUT 3-STOREY HOMES Own 3 storeys with 2 or 3 bedrooms from $1,423/month*

Register at kintalla.com @StreetsideYYC *Based on a mortgage amount of $240,270.24 + GST with 5% down payment, 5 year term at 2.89% for 25 years with monthly payments. GST, Monthly Condo fees, Property Tax included. Price and renderings subject to change at developer discretion.

26 NEW CONDO GUIDE | VOLUME 16 ISSUE 07 | newcondoguide.com

CONDO GUIDE

METIS TRAIL

northeast communities 05

SADDLETREE DR.

52 STREET

DE

TR A PI NA

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

12 AVENUE

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

08 h ighland park By stonecroft

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

BARLOW TRAIL

GLENMORE TRAIL

SOUTHLAND DRIVE ANDERSON ROAD

DEERF

12 Arrive @ redstone

By PARTNERS DEVELOPEMENT GROUP Coming Soon

114 AVE SE

OOT T RA

IL

W BO

NEW BRIGHTON

IL

Mac TRA

U

MARQ

AIL

NE TR

LOR IS OF

COPPERFIELD

13007 Coventry Hills Way NE

IL

T

VIT McKE

D LEO

S JAME

TRA

EK P ARK

M

TTO BO

CRE

SHAWNESSY BLVD.

Skyview Ranch Rd & Skyview Ranch Dr

IAL DR

R MEMO

17 Ave

FISH

07 a rrive @ SKYVIEW RANCH

By PARTNERS DEVELOPMENT Group

16 AVENUE

04 MEMO 02 01 RIAL D RIVE

GLENMORE RESERVOIR

6 Saddlelake Place NE

68 STREET

32 Ave

52 STREET

14 STREET

16 AVENUE

Coming Soon bridgelandcrossings.com

06 Saffron

By Genesis Builder’s Group

MCKNIGHT BLVD.

08

01 bridge crossings by apex city homes

06

64 Ave

84 STREET

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

FA L RID CON GE

NOSE HILL PARK

EDMONTON TRAIL

SH AG AN

04 Steps BRIDgeland

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

ER

IL

CO

68 Street NE & 80 Avenue NE

07

COUNTRY HILLS BLVD.

FO OT TR AIL

VD. LS BL

Y HIL UNTR

03 i ndigo sky at saddleridge by carlisle group

STONEY TRAIL 12 11

$279,900 CHAPARRAL 2 bed, 2 bath includes GST, granite, hardwood and tile, ABURN BAY plus stainless appliances. CRANSTON Now selling FINAL PHASE! Units in final phase include upper deck, lower patio, walk out to the park and bonus room!

www.CoventryStation.ca

587-896-6107 newcondoguide.com | Volume 16 issue 07 | NEW Condo Guide 27

marke t mar t s with

Jim Malner

So, you’ve purchased a new home. Saved your pennies until they were dollars. Did the appropriate amount of research to find the ideal neighbourhood with the right amenities. Worked through dozens of floor plans with a litany of builders. Negotiated the best deal you could. Went to the bank and borrowed enough money to get a slightly queasy feeling in your stomach. Went back to the sales centre and signed the purchase agreement which has finally been approved and then – nothing. First nothing for days, then weeks and dare I say maybe a month or two.

After all that hard work by a purchaser there is a natural expectation that your builder will put every single one of his staff and resources into building your new home - now. After all it’s a big deal right? Well, most builders have to follow a rigid process and as hard as it may be for you to believe, they’re generally building more than one or two homes at a time. You should check with your builder to determine their specific building process, but generally they follow a fairly similar process. For you that means those days and weeks when apparently nothing is going on are indeed busy times in which your lot is being secured from the developer if in fact the builder did not own the lot themselves. I generally break the process down this way and it might help you understand why building a house can seem so slow, when in fact it probably is not.

Stage 1 - The Paper The first real part of building the house is the preparation for building. This includes finalizing all details of the home structurally and aesthetically. The plan needs to be plotted onto the lot, a permit needs to be obtained from the City and all the trades need to be scheduled in advance to make sure they’re available in an organized and cohesive manner. One of the major issues that can happen here is obtaining the building permit. This is generated by a fairly small department that only has so many staff and during very busy periods (like spring time or when the economy is booming) it can take extra weeks to get this vital piece of paper before any field work begins.

Stage 2 - The Structure Your first big day will be when they dig a hole to pour the foundation for your home, generally a month and a half after the sale is finalized. This will be your first tangible sign that you will one day actually have a home. If it happens to be pouring rain at the time then this step may be delayed for a week or two. Eventually they pour the footings and foundation walls and then – you guessed it – you wait for the concrete to set.

28

The Hardest Part Of Building – The Wait

This could be two weeks or more. The next sign of life is the framing crew creating floors, walls, stairs, ceilings and roof etc.

This is an especially fun stage because your house actually rises from the ground and becomes real and a source of pride for you and your family. At this time you’ll want to visit the site every day and watch the progress - but don’t. Framers will be moving around doing work on a few homes at a time so there will be some waiting periods for sure. Next are the windows and doors and then a period of waiting as the “specialists” arrive. These include electricians, plumbers and drywallers. You may have to wait a bit on each of them as they are in high demand and given the proficiency of all previous initiatives they may be double booked by this point in construction.

Stage 3 - The Finish Following structural completion is the start of interior and exterior finishing. These again are generally handled by specialists. Painters, flooring installers, tile setters, cabinet and countertop people. Each must follow the other in a strict timeline that’s often impacted by some inconvenience that may add a day or even a week to the finishing of your home.

The point of this article is to assuage fears that “no activity” on your home for a few days or even weeks is not something to stress about. It’s almost predictable.

Don’t call and harass the builder. Often, whatever is occurring is beyond their control and it’s in their best interest to finish your home as fast as possible – because that’s when they get paid.

Building a home is a complex transaction and some patience and a clear understanding of your builder’s process is a really good way to mitigate your stress during those endless waiting periods.

Follow CSG on Facebook or Twitter for regular real estate opportunities and updates. All Jim’s columns are posted on CSG’s blog at marketsmarts.net.

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

northeast

250s

$

starting from the

• 2, 3 and 4 bedroom plans, with vault features in most master bedrooms ranging in size from 1173 -1590 sq ft • Limited number of walk out units with west facing fenced yards with unobstructed mountain views and unobstructed views

To preview visit our show home located at 102 Skyview Ranch Road NE Monday - Thursday 2-8pm Sat/Sun - 12-5pm

• All townhomes have single car garages with full depth driveways • Central park with a large playground/ activity center

call 403.264.8963 I www.ArriveHome.ca *call now for details-prices from $250k’s including gst, subject to mortgage approvals OAC with minimum down payment - visit us for answers to your questions.

29

condo profile

Partners Development Group launches ARRIVE at Redstone // By Heather Ryan

f

resh off the success of its immensely popular townhome development, ARRIVE at SkyView Ranch, Partners Development Group’s new townhome project is ARRIVE-ing at Redstone.

ARRIVE at Redstone is a gorgeous 164 townhome development that focuses on eco-friendly living, great style and modern finishes. It offers buyers a choice of two- and three-storey 30 NEW Condo Guide | Volume 16 issue 07 | newcondoguide.com

designs with heated single attached garages and full depth driveways at an affordable price point – starting at $259,900 including GST. “We received such a great response from buyers to ARRIVE at SkyView that it’s sold out,” says Sales and Marketing manager Jade Mahon. “So we’re pleased to offer another ARRIVE development in the neighbouring community, and are launching sales for ARRIVE at Redstone at the end of June.”

Mahon notes what’s made the ARRIVE townhomes so popular with homebuyers is the green element that gives their buyers built-in value and energy-saving benefits at a price they can afford. ARRIVE offers buyers

energy-efficient and water-conscious homes with a minimum Gold rating from BuiltGreen Canada and an EnerGuide rating between 80 and 83. Every home has water-saver faucets and toilets, low-E windows, LED and CFL lighting, a 96 per cent high-efficiency furnace and an electric water heater, spray foam insulation and a heat recovery ventilation system creating a clean, healthy environment in the home.

Partners Development Group is also one of the first builders to offer curbside waste and recycling pick up in a bareland condominium – using the blue and black bins, which they provide with each home.

“Our purchasers really love the BuiltGreen factor because of the long-term money savings involved and the low impact on the environment, as well as the layouts – they’re perfect for living in and entertaining.”

Partners Development Group also conducts numerous pre-inspections and air tests during their construction process to ensure its high standards are being met for quality construction.

ARRIVE at Redstone introduces new building designs for buyers, including 28 walkout townhomes that feature exclusive-use, fenced back yards that face onto a pond and provide unobstructed views of the mountains.

“These are very unique townhomes that offer a great location along the pond and terrific views,” Mahon says, noting the two storey Waterstone products range from 1,173 to 1,196 sq. ft. and come with three bedrooms or an optional dual master bedroom plan and a walkout basement with some development options.

Around the perimeter of the site will be the Windstone townhomes that include two bedrooms plus a den in a three-storey design with sizes ranging from 1,210 to 1,350 sq. ft.

In the centre of the site will be the three-storey Earthstone townhomes, “which are unique in that they come in eight-, 10- and 12-plexes that back onto each other so they’re not in a long row, and offer two-, three- and four-bedrooms options,” Mahon says, that range from 1,343 to 1,590 sq. ft. and are fully developed.

Partners Development Group is constructing the townhomes with thoughtful designs that make efficient use of space and fine interior standard features such as kitchen islands with eating bars,

maple cabinetry, full-height tile back splashes, Energy Star-rated stainless steel appliances, laminate floors throughout the main floor, vaulted ceilings in most master bedrooms and a window blind package. All the homes have an extra-large balcony area with vinyl surfacing, two-and-a-half bathrooms and laundry on the main or upper floor, with front loading washer and dryer included.

Purchasers can also personalize their townhomes with a visit to the design centre where they can make their interior selections and customize their home to their individual taste.

ARRIVE at Redstone also presents an esthetically pleasing streetscape that includes a central park with playground and mature landscaping.

Mahon says the townhomes will appeal to first-time buyers, young professionals, young families and empty nesters who desire spacious floor plans and a maintenance-free lifestyle.

Buyers will also love the location just off Metis Trail, which provides quick connections to Stoney Trail and Deerfoot Trail, ensuring easy routes to downtown, the airport and out of town. Its convenient location provides residents with excellent access to a wide range of shops, services, eateries and more just minutes away at CrossIron Mills mall and in nearby Country Hills and SaddleRidge.

To learn more about ARRIVE at Redstone, call 403.264.8963 or visit www.ArriveHome.ca. You can also visit their ARRIVE showhome in SkyView Ranch, at 102 SkyView Ranch Rd. N.E. newcondoguide.com | Volume 16 issue 07 | NEW Condo Guide 31

65% SOLD OUT Move in Now An exclusive collection of 2 & 3 bedroom townhomes with GARAGE with all the benefits that New Brighton has to offer.

• Easy access to Deerfoot Trail. 5 minutes away from grocery stores, restaurants, shopping and local amenities • New Brighton Club offers a wide variety of recreational and event programming suitable for everyone • Water park, tennis and volleyball courts open during summer; skating in winter • 20 acre central park and pond

3 bedroom 3 storey ; 1645 sq ft finished Value Added Features Double car garage • Double master options • 9’ ceilings from

1620

$

from $357,558 + GST qualifying income $70,695

in New Brighton SE

2 bedroom 3 storey; 1234 sq ft finished Garage with full width driveway

• 2.5 baths • Flex room • Stainless steel appliances • Washer and dryer • Quartz countertop • Shag carpeting • Laminate flooring • Ceramic tile flooing • Wider stairwells • Huge balconies and windows • Landscaped with trees and pathways • Maintenance free Living (includes snow removal and grass cutting)

1286

from $

from $283,914 + GST qualifying income $56,752

New Brighton Club

Park

Park Future School

Jayman Modus Calgary is a Builder of Excellence for providing “An Outstanding Home Ownership Experience” for Multi-Family Homes in Alberta.

130 New Brighton Way SE Showhome Hours Mon - Thur: 2pm - 8pm Wknds: Noon - 5pm

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

thatsmint.ca

il

rne Tra

is of Lo

Marqu

Based on the J.D. Power and Associates 2013 Alberta Multi-Family New Home Builder Customer Satisfaction Study SM conducted in association with the Professional Home Builders Institute of Alberta. Study measures ANHWP builder members and participating builder members of PHBIA, which represent more than two-thirds of all new single-family homes built in Alberta. For more information, visit jdpower.com

May Mint Condo Guide.indd 1

5/14/2013 4:37:02 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

MEMO

RIAL D RIVE

36 STREET

MEMO

52 STREET

ELBOW DRI VE

12 INNOVATIONS

BY JAYMAN CHAPARRAL VALLEY

ANDERSON ROAD

DEERF

114 AVE SE

M

07

16

AIL

TR

Mac

11 05 02 23 COPPERFIELD

AIL

MARQ

CHAPARRAL CRANSTON

01 12 15 02

13

MAHOGANY

20 21

22 AUBURN BAY

16

Presentation Centre: 350 Quarry Park Blvd SE

06 ZEN

BY AVALON MASTER BUILDER

03 AUBURN BAY

BY BROOKFIELD HOMES

07 PRESTWICK PLACE

BY CARDEL LIFESTYLES

04 MOSAIC LAKESIDE AUBURN BAY

BY BROOKFIELD HOMES

08 MOSAIC MOTIF IN NEW BRIGHTON

BY BROOKFIELD HOMES

27 Auburn Bay Link SE

Corner of Seton Blvd and Auburn Bay Link SE

18 THE GATES

BY REMINGTON DEVELOPMENT CORPORATION

02 COPPERFIELD PARK

BY BRAD REMINGTON HOMES

174 Auburn Bay Blvd SE

16 AUBURN BAY

BY STONECROFT

347 MacKenzie Towne Gate

13

05 MINT

BY JAYMAN MODUS

279 Copperpond Common S.E.

285 Walden Drive SE aviurban.com

17 MOSAIC MIRAGE

BY BROOKFIELD HOMES

03 04

01 RIVERSIDE TOWNHOMES IN CHAPARRAL VALLEY

BY CARDEL LIFESTYLES 121 Chaparral Valley Drive SE

15 EDISON

BY AVI URBAN

F LO UIS O

D TR

VITT

McKE

LEO

S JAME

06 08 RAIL 09 10 RNE T

206 Cranford Drive SE

116 Quarry Park Way SE

NEW BRIGHTON

TTO BO

EK P ARK

290 Chaparral Valley Drive SE

13 MOSAIC CRANSTON

BY BROOKFIELD HOMES 14 BOULEVARD TOWNES

BY BIRCHWOOD

OOT T RAIL

W BO

CRE

84 STREET

14

52 STREET

BARLOW TRAIL

19 18

SHAWNESSY BLVD.

585 McKenzie Town Drive SE

11 CHALETS IN COPPERFIELD

BY SABAL HOMES

GLENMORE TRAIL

SOUTHLAND DRIVE

FISH

10 MCKENZIE TOWNE ELGIN

BY BROOKFIELD HOMES

1797 Copperfield Blvd SE

MacLEOD TRAIL

GLENMORE RESERVOIR

17 Ave

BLACKFOOT TRAIL

17 Ave

19 CHAMPAGNE

BY REMINGTON DEVELOPMENTCORPORATION

130 New Brighton Way SE thatsmint.ca/live

Quarry Park Blvd SE remingtoncorp.com

20 CRANSTON PLACE CONDOS

BY CARDEL LIFESTYLES

3510 McKenzie Town Gate SE

302 Cranston Road SE

21 CRANSTON PLACE TOWNHOMES

BY CARDEL LIFESTYLES

115 Prestwick Villas SE

302 Cranston Road SE

22 MAHOGANY STREET TOWNS

BY HOMES BY AVI

317 New Brighton Villas SE

13 Marine Dr SE

23 SYMMETRY AND HARMONY

BY STONECROFT 121 Copperpond Common 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 07 | NEW CONDO GUIDE 33

Now

Sell

ing

STARTING AT $119,900 +GST

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

STARTING AT $164,900 +GST

130 Ave

Copperpond Blvd

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

N

STARTING AT $244,900 +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

34

Auburn Bay

PHASE 1 75% SOLD

Now

Sell

ing

Pha se

Premium Condo Living...

Premium Location

2

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

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

90%

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...

35

CONTEMPLATING CONDOMINIUMS

Condominium bylaws:

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

T

o answer questions about what is prohibited by most condominium corporation bylaws, a reply can usually consist of two words: “common sense”. A parallel would be the Criminal Code of Canada. Virtually no one has ever read it. Yet we all know darn well what we’re not allowed to do!

In condominium we’re choosing a lifestyle that must, by its nature, be regulated with custom-made rules. So before buying into a condominium project, the shopper should ALWAYS read the bylaws, and in particular the “do not” sections that they will have to live by. Even investor buyers planning to rent out a suite should be very aware of the rules, as they will apply equally to tenants. In fact, condo suite renters should review a copy of the bylaws, or perhaps this column, before they are given the keys.

Before reciting the list of common “do nots”, we should acknowledge that bylaws are what make condo life desirable, and what distinguish it from

// by Linda Palfi

what is not allowed?

poorly-run rental developments. Bylaws also state requirements of what owners WILL do, and detail the duties of the corporation and its Board of Directors.

It’s an entire package that works together to make sure that everyone pulls their weight, and that miscreants who would make your life difficult can be dealt with.

These “do nots” are most often found in residential condo bylaws. Read your own, though, to see the actual rules you live by.

Owners shall NOT: » Run a commercial business other than a permitted “home occupation”. » Use the property for any illegal activity, or for other than as a single-family residential dwelling. » House more than the number of people specified in the bylaws. » Interfere with others’ enjoyment of their property. » Cause a nuisance or a hazard in a living unit or on the common property. » Make undue noise. This extends to musical instruments, and may restrict renovators to limited hours. » Keep any animal other than as allowed by the bylaws (or by Board policy, as authorized by the bylaws). » Throw or drop anything from windows or balconies, or shake out mops or dusters. » Hang over windows (even inside) or balconies anything esthetically unpleasing, nor cover windows with opaque material or tin foil. » Display signs, advertising, “for sale” signs (even inside, but seen through windows) or Realtor lockboxes. » Alter the exterior of the building in any way.

36 NEW Condo Guide | Volume 16 issue 07 | newcondoguide.com

» Undertake any renovation that affects common property or building structure. » Hang laundry, other than inside the living unit. » Allow the property to become unsightly or unsanitary or unfit for human habitation. » Use balconies or other exclusive-use areas for storage of any kind; often bicycles are included. » Erect or mount any antenna, satellite dish or the like. » Trespass on other owners’ exclusiveuse areas, or on common property housing mechanical services. » Feed or harbour squirrels, pigeons, gulls or other birds or animals. » Smoke on the common property, or allow any guest or invitee to do so. » Use parking stalls for other than parking a motor vehicle, which must be operational and licensed. » Perform any automotive repairs in parking stalls or on any common property. » Allow any propane-powered vehicle into an indoor or underground parkade.

There is far more to condominium bylaws, of course, than this list of common-sense “don’ts”. The bylaws establish the authority for the corporation and its Board to run the show on your behalf, creating the structure and the central management that makes condo living so attractive.

Some more detail is available through my web site under the title “Bylaws equal peace and good government”. But there’s no substitute for reading your own bylaws. Pour yourself a coffee. Get out your highlighter pen. Enjoy the read!

37

ZEN CondoGuide 201307.indd 1

12-06-13 10:16

industry updates - chba - alberta

Thinking Green

Jim Rivait is Executive Officer of CHBA Alberta. Starting his career working in government, Jim spent the last decade working in the private sector specializing in government relations, advocacy, strategic communications, policy development/analysis and association management.

M

any people show their concern for the environment when they bring along a shopping bag to the grocery store to reduce the amount of plastic headed to landfills.

Thinking Green has a far bigger impact when buying a new home.

Choosing a more efficient home will have an enduring impact on both the environment and operating costs for year to come.

Built Green Canada is a program to help homebuyers make smart choices that will significantly improve energy and water efficiency, make homes healthier and more comfortable, increase durability and improve eventual resale value.

Families find Built Green homes save them hundreds of dollars a year in utility bills and they are better shielded from ever-rising energy prices in the future. There is no way to put a price tag on the benefits of a more

// by Jim Rivait

when buying a new home comfortable place to host special celebrations and enjoy time with family and friends. But those advantages are as real as the pride that comes with knowing you took extra care in providing the best home possible.

Homes constructed under the Built Green program can achieve four levels of certification – bronze, silver, gold and platinum – depending on the choices consumers make as they design their home. Builders must be trained in the program’s practices, policies and procedures before starting on a project.

Checking the elements that qualify a home for Built Green status is a great education for consumers who want to make the smartest choices about their new home. Let’s have a quick look at some examples. Details can be found at builtgreencanada.ca Envelope and energy systems. The envelope surrounding the home should be as air-tight as possible, insulation will help control temperature, and efficient appliances such as tankless water heaters will save energy and lower utility bills.

Materials and methods. Choosing environmentally preferable materials may include wood that is sustainably harvested. Methods used by builders can reduce the amount of lumber required without compromising the quality of the home.

And smart choices in paints and finishing materials can reduce chemicals present within the home and ease the burden on landfills.

Indoor air quality. Canadians spend a lot of time indoors so the quality of interior air is an important environmental consideration. Natural materials or those low in Volatile Organic Compounds will help achieve this goal.

Ventilation. Bringing clean air into the home is also vital. A motorized damper on the fresh air inlet ensures comfort and safety without the wasted energy from keeping the inlet constantly open.

Waste management. Building a home can generate a lot of trash. Construction companies can slash the totals substantially by installing recycling bins on the job site, reusing rather than discarding pallets and ordering supplies that don’t come with excess packaging.

Water conservation. While energy use tends to get the lion’s share of the attention, many regard fresh water as the planet’s most precious resource.

Low-flow toilets and faucets help reduce water use. Hot-water recirculation systems ensure the water is warm when you turn on the tap – and save all that water that typically goes down the drain in regular systems. Drought-resistant landscaping will reduce the water consumption outdoors.

Business practice. How your builder conducts business is also a key part of the overall environmental footprint of a home. Firms that choose products from nearby suppliers reduce harmful emissions from transportation. And educating homeowners about how the environmentally responsible systems in their homes operate helps to guarantee they will achieve the best results.

These are just a few of the factors that are used in the construction and rating of a Built Green home.

When shopping for a new home, ask about the Built Green program and how an investment today in environmentally friendly features can pay dividends – not just in lower utility costs – but in a healthier future.

38 NEW Condo Guide | Volume 16 issue 07 | newcondoguide.com

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May Condo Guide Trinity.indd 1

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newcondoguide.com | Volume 16 issue 07 | NEW Condo Guide 41

condo profile

Genesis presents upscale living with the Brownstones in Sage Meadows // By Heather Ryan

a

n exclusive collection of upscale Brownstones that offers high-end features and spacious layouts is proving to be a hit with buyers in Sage Meadows.

Crafted by Genesis Builders Group, the Brownstones in Sage Meadows is a collection of executivestyle townhomes consisting of 46 homes in four buildings flanking Sage Meadows Terrace – the gateway to this northwest community that boasts more than 60 per cent green space.

42 NEW Condo Guide | Volume 16 issue 07 | newcondoguide.com

The two-storey townhomes with double detached rear garages, partially developed basements and finely appointed interiors are being so well received the first phase is almost sold out and the second phase is 50 per cent sold, says Area Manager Bruce Taylor.

“People really like the Brownstones because of the well-designed layouts, the upgraded finishings and the fact that there are no condo fees,” Taylor says. “A lot of our demographic is people who are downsizing who don’t want to pay condo fees and don’t mind doing lawn maintenance.

“We’re also getting a lot of positive comments about the exterior; people love the stone tile and stucco that is reminiscent of the old New York brownstones,” he says.

While the exterior has a historic flair, the interiors showcase upscale living with modern features and finishings.

The exterior also reflects the historic charm and sandstone exterior of the Christy Farmstead.

The original home is a heritage site in Sage Meadows and the farmstead was used by drovers in the early 1900s as the last stop on their cattle drive before they made their way into Calgary.

While the exterior has a historic flair, the interiors showcase upscale living with modern features and finishings. “We wanted to make the interiors so people downsizing were not downgrading, so buyers will find the same nice finishings they have in their existing homes,” Taylor says.

The kitchen in particular makes an impression with buyers, he says.

“They really like the large 10-foot island, which provides loads of storage space,” and is a focal point in the home.

Other great standard features include granite counters, under cabinet lighting and stainless steel appliances in the kitchen, hardwood and tile floors, nine-ft. ceilings on both the main and lower levels, iron spindles and maple rails, upstairs laundry a half-bath on the main.

The townhomes, which range from 1,182 to 1,375 sq. ft. and are priced from $374,900 including home, land and GST, come standard with three bedrooms and one full bathroom up, although there is an option for a dual master bedroom and two-bathroom layout. Genesis also develops 300-sq.ft. of space in basement providing an additional bedroom with three-piece bathroom, along with approximately 300 sq. ft. of undeveloped space.

“Buyers love that they get additional developed space downstairs,” Taylor says. “The big windows ensure plenty of natural light and they can use it for a bedroom, office or family room (as shown in the showhome).”

The undeveloped space also has a big window and is wide open so it can be developed into whatever the buyer wants, Taylor says. It would be a great media room, family room or games room since it can accommodate a pool table.

In addition, exterior features include fully landscaped front yards with grass, trees and shrubs, grass in the back yard with a 6-ft. privacy fence separating each townhome and underground sprinkler systems in the front and back yards. The homes also have paved lane access.

The Brownstones are located close to greenspace and pathways so buyers can enjoy the great outdoors. Sage Meadows provides a beautiful natural setting and is home to eight ponds and a wetland area, West Nose Creek, a wildlife reserve, cottonwood groves, grasslands and a future school site.

Residents are within walking distance to adjacent shopping at Creekside plaza that includes a Co-op grocery store, shops, services and restaurants, and it’s a short drive to CrossIron Mills shopping mall and shopping centres in Country Hills and Beacon Hills.

Sage Meadows is located off Symons Valley Road/Beddington Trail so residents have easy access Deerfoot Trail, Stoney Trail and Country Hills Boulevard to get to downtown, the airport and the mountains.

For more information on Brownstones in Sage Meadows, visit the showhome, open Monday to Thursday, 2-8 p.m., and weekends and holidays, noon to 5 p.m., call 403.455.2280 or visit www.theBrownstones.ca. newcondoguide.com | Volume 16 issue 07 | NEW Condo Guide 43

CHBA - Calgary Region

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sonomasagehill.com NCG_May 2013.indd 1

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CONDO GUIDE

2012

Multi-Family Builder of the Year 47

SOUTHWEST

Space to add those extra leaves to your dining room table.

THE UPSIDE TO DOWNSIZING Hunter House is for people whose lives are full. Your single-level condo has space to spare for entertaining. There’s room for overnight guests and double garages are standard. And, when you want to get away, all your regular home maintenance is taken care of.

Make more room for your life, luxury condos from the mid $460,000’s.

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48

More room for life.

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CONDO GUIDE BANNER CLIENT: Streetside PROJECT: Hunter House INSERTION DATE: July 2013 SIZE: 6.75” x 1.5”

newcondoguide.com | VOLUME 16 ISSUE 07 | NEW CONDO GUIDE 49

In The News

AVI URBAN

receives Calgary Award

for corporate environmental responsibility

The City of Calgary presented 16 awards to

recipients at the 2012 Calgary Awards on Wednesday, June 12, 2013, and local multi-family home builder Avi Urban was awarded the Calgary Award for Corporate Environmental Responsibility.

The Calgary Awards is The City of Calgary’s official citizen recognition program celebrating Calgarians and local organizations for their outstanding achievements and significant contributions for improving the quality of life in Calgary. Mayor Nenshi and Members of City Council recognized recipients at the ceremony.

Avi Urban was honoured for their work in their inner-city townhome development of Victoria Cross, receiving the Corporate Environmental Achievement Award which recognizes a Calgary business for innovative and/or exemplary environmental conduct.

The Built Green certified homes in Victoria Cross exceed the LEED ND (Leadership in Energy and Environmental Design for Neighbourhood Development) requirements and utilize a highly innovative and custom designed storm water management system. The design strategy for this development required the integration of storm water management within the landscaping to create a low impact development, in order to benefit the long term sustainability of the Currie Barracks community.

50 NEW Condo Guide | Volume 16 issue 07 | newcondoguide.com

“We are honoured to be recognized for our ongoing collaboration and dedication in working with The City of Calgary on establishing industry precedence for environmental innovation,” shares Charron Ungar, president of Avi Urban. “Our homeowners can be proud that they are doing their part to help the environment within our communities.”

Avi Urban General Manager Victor Mutambo was present to accept the award on behalf of Avi Urban, as President Charron Ungar was honoured by the Canadian Home Builders’ Association on the same evening to officially complete his year-long term as president of the Calgary Region chapter.

About Avi Urban: Avi Urban is a Calgary-based builder of quality multi-family homes. Recognizing a demand for innovative multi-family 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, multi-phase townhome developments.

About the Calgary Awards: In 1994, The City of Calgary established the Calgary Awards to celebrate and recognize outstanding achievements and contributions made by Calgarians. Each year, individuals, corporations, community groups, schools and organizations are nominated in five major award categories. The City of Calgary encourages all Calgarians to look to their neighbours, colleagues, community leaders and local organizations and businesses for those who could qualify as recipients of the Calgary Awards. For more information visit The City website at Calgary.ca/calgaryawards.

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

SOUTHWEST

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Visitnewcondoguide.com Our | Volume 16 issue 07 | NEW Condo Guide 53 Sales Center: 771 Patrick Street S, Calgary, AB T3H 4B9

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Visit the new real estate section on canpages.ca and start looking for that special place.

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Where to find

FLOOD-RELATED INFORMATION AND RELIEF With so many people affected and displaced by the recent catastrophic flood, New Condo Guide would like to help by providing information for necessary emergency resources and news. New information is constantly being released, from support programs, like the pre-loaded debit cards to provide emergency funds to displaced families (alberta.ca/recoveryinformation.cfm) to health information and concerns when reentering homes post flood, such as mould and safe use of generators (www.albertahealthservices.ca).

Officials are tweeting, aid and outreach groups are being established and help is available for all residents.

HERE ARE SOME OF THE BEST SOURCES OF UP-TO-THE-MINUTE INFORMATION ON POST-FLOOD DEVELOPMENTS IN CALGARY. Facebook: Calgary Flood This Facebook page includes information and updates about flood-related developments around the city. It also distributes news and contact info for aid initiatives, both large scale and small.

Twitter – For official news updates you can follow: • Calgary’s Mayor Naheed Nenshi @nenshi • City of Calgary @cityofcalgary • Calgary Police @CalgaryPolice (for info only, not an emergency contact) • Calgary Transit @calgarytransit (find out route information) • AB Emergencyalert @AB_EmergAlert (Official channel of Alberta emergency public alert system) 56

Alberta Emergency Centre: emergencyalert.alberta.ca This site provides emergency updates – from water levels and flash floods to road conditions and extreme weather developments Calgary City News: www.calgarycitynews.com Info includes: • Map of access zones • Road and bridge closures • Evacuation information and reception centres • Evacuation lifted (re-entry information) • Enmax outages • Community support centres • City services disrupted by the flood

Alberta Government Flood Recovery information: alberta. ca/recoveryinformation.cfm Toll-free in Alberta: 310-4455 Recovery information: Affected communities Affected government services Estimated peak river flows How you can help Albertans’ flood stories Flood clean-up tips: Re-entering your home Cleaning your home Removing mould Disinfecting water wells Cleaning cisterns Flood resources – clearing your home after the flood: www.albertahealthservices.ca This site provides extensive information on emergency response, information on health risks posed when reentering buildings post-flood, facility updates and flood resources, and more.

Health Link Alberta: Anyone in Alberta with a health concern can call: • Toll-free: 1-866-408-5465 • Edmonton: 780-408-5465 • Calgary: 403-943-5465

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newcondoguide.com | VOLUME 16 ISSUE 07 | NEW CONDO GUIDE 59

the mortgage minute

// by peter kinch

Why real estate still makes investing sense arguments or reasons to choose one vehicle over another, but here are four reasons why you may want to consider real estate as your investment vehicle of choice, along with one caution: 1 The power of leverage

Peter Kinch is an award-winning mortgage broker and best-selling author of The Canadian Real Estate Action Plan Visit peterkinch.com or contact him at peter@peterkinch.com

A

t various times during the year, people analyze finances, plan for the future and wonder where you can get the best return on your money. At tax season, for example, you’re inundated with multiple mutual fund companies promoting the tax advantages of parking your RSP money with them. You’ll wonder about the stock market and the ongoing global issues. You’ll start to look at hard assets such as gold or precious metals. And, of course, you’ll look at real estate. The hard question is, which vehicle will produce the best results? My answer to this question will always be the same: the action is dictated by the goal.

First and foremost, it is important to understand that all of the above options are simply vehicles designed to accomplish an end result. The first step is to determine what that desired end result is, and then ask yourself: Which vehicle will move me closer to that goal? You may have a variety of

Leverage is a tool that can work for you or against you, but there is no denying the fact that it is a very powerful tool. Let’s take the example of two investors sitting on $100,000 cash. ›› One investor chooses to put their capital into either the stock market or precious metals. If they spend $100,000 – they receive in return $100,000 in either stock or a precious metal asset. If their investment were to increase (perform) at a rate of 20 per cent over the course of a year (although I don’t presently know of any funds offering that return) their investment of $100,000 would produce a $20,000 return. ›› The other investor chooses to use her $100,000 cash as a 20-per-cent down payment and purchase a $500,000 property in an area that has good economic fundamentals and produces a positive cash flow every month. Let’s assume that this property increases by only five per cent over the course of the year. That would make the value of the property $525,000 – effectively a $25,000 increase in your asset value – not including the amount of debt reduction or positive cash flow over the course of the year.

On the surface, the first investor had an investment that outperformed our real estate investor by four times, but actually made less money due to the fact that it wasn’t leveraged.

That’s the power of leverage. The key is to understand that it can also go the other way – and that is the importance of having a long-term strategy and investing in areas with strong fundamentals and good cash flow.

2 Interest rates

Two keys to being able to develop a successful real estate portfolio are affordability and cash flow, and an underlying fundamental to both of those is the rate you pay for borrowing money.

The good news for Canadian investors in 2013 is that we still have low interest rates.

Due to the ongoing global credit issues, the Bank of Canada (BoC) has indicated its intent to keep rates low through 2013. But it is important to note that the BoC can only influence the prime lending rate – which is used to determine your variable rate mortgage.

It is important for consumers to remember that the fixed rates are governed by the bond market and that although the BoC has indicated it does not intend to increase the prime lending rate, that does not guarantee that long-term rates will not rise in the meantime. A return of money to the markets will cause a drop in bond pricing followed by an increase in the bond yield, which will result in an increase in long-term rates even if the BoC leaves prime unchanged.

60 NEW Condo Guide | Volume 16 issue 07 | newcondoguide.com

continued on page 62…

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the mortgage minute

continued…

Two keys to being able to develop a successful real estate portfolio are affordability and cash flow, and an underlying fundamental to both of those is the rate you pay for borrowing money.

A further threat to low interest rates is that even though we will not likely see a rise in prime, we have already seen the disappearance of the discount on variable-rate mortgages. Due to a lack of liquidity in the global markets, the cost of borrowing has increased for lenders. As such, variable-rate mortgages are less profitable and they have cut back on the discounts they offer. The net result for borrowers is that the amount you pay on a variable mortgage is not as attractive as it was a year ago.

Having said that, we need to be very clear that even without a discount, a prime lending rate at - or about – three per cent is ridiculously cheap and allows for great investment opportunities. There are multiple opportunities within the Canadian marketplace that can create positive cash flow as long as the interest rates are below four per cent. You can easily get a five-year term today well below four per cent, so the ability to get a cash-flowing property and lock that in for five years will be as good in 2013 as it’s ever been.

3 seeking safe harbours

As the global fi nancial markets continue going through more drama than a daytime television show, the fallout is consumer angst resulting in low consumer confidence.

When consumers lack confidence, they tend not to make big-ticket purchases.

Real estate is obviously one of those items and this alone could result in a slight drop in market values. However, it is the exact same angst and fear that drive consumers to seek out safe harbours in a storm, placing their money in areas perceived as protected from the roller-coaster that the stock market has become.

This is the reason we have seen records in the price of gold. Investors are speaking with their pocketbooks and saying loud and clear that they are losing confidence in the market and want a tangible asset that they can own and hold. What could be more tangible than real estate and if you were looking for a safe harbour in real estate, which country would you invest in?

Canada has been seen globally as one of the few countries to have survived the last global recession relatively unscathed. In fact, our banking system and domestic economy have become the envy of the world.

4 sound economic fundamentals

Regardless of where you buy real estate, you should make your purchase based on sound economic fundamentals. There is no such thing as a Canadian real estate market – it is regional. You can have solid fundamentals in one town, while another within 100 kilometres could have an economy based solely on exports to the U.S. I expect the U.S. to be hit harder by the fallout in Europe, but that will impact only regional Canadian economies that depend on trade with the U.S. Although we are still largely an export-dependent country, there are a lot of regional pockets that have a strong domestic economy and are expected to grow in spite of global issues. Look for strong GDP growth, followed by strong employment numbers which in turn brings a strong tenant base. A strong tenant base combined with low interest rates creates the opportunity for positive cash-flowing properties. And if the property flows cash in good times and in bad, 62 NEW CoNdo GuidE | Volume 16 issue 07 | newcondoguide.com

you need not worry about potential for values to fall or bubbles to burst.

The value of your property the day after you buy it is irrelevant until the day you go to sell it. If you are purchasing investment real estate with a long-term buy-and-hold philosophy, and you have purchased in an area that gives you positive cash flow, then you don’t need to worry about the hype in the headlines regarding property values. Just focus on letting your tenants pay off the mortgage over time and enjoy the cash flow when you have a free and clear asset.

So, as you look at your fi nancial options for the year, ask yourself fi rst and foremost: What results do I need from my investments, Then analyze your options in the context of your goals. If you choose real estate, simply stick to the fundamentals, take action while others worry over headlines, take advantage of low rates and use leverage wisely. Invest and don’t speculate, and both you and your children will be glad you did in the years to come. Happy investing!

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.

64 NEW CONDO GUIDE | VOLUME 16 ISSUE 07 | 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

3.550

4.390

3.040

Bank of Montreal

3.100

4.000

3.000

3.040

3.550

4.540

5.140 4.990

Bank of Nova Scotia

3.100

4.550

3.750

3.890

3.990

4.390

CIBC Mortgages

3.200

4.450

3.000

3.140

3.550

4.390

5.140

Canadian Western Bank

3.200

4.000

3.000

3.040

3.550

4.540

5.140

Canadian Western Trust

3.200

4.000

3.000

3.040

3.550

4.540

5.140

First Calgary Financial

-

4.000

2.390

2.670

2.790

2.890

2.950

First National Financial

2.800

3.950

2.740

2.690

2.790

2.990

2.990

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

2.990

3.080

Investors Group Trust

3.000

4.000

3.000

3.140

3.550

4.540

5.140

Laurentian Bank Canada

3.200

4.400

3.090

3.140

3.550

4.540

5.140

London Life

3.000

4.000

3.000

3.140

3.550

4.540

5.140

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

3.550

4.540

5.140

Peace Hills Trust

-

4.500

3.100

3.350

3.550

3.850

3.950

President’s Choice Fin’l

3.200

6.040

3.140

3.200

3.240

3.350

3.440 5.140

Royal Bank of Canada

3.000

4.000

3.000

3.040

3.550

4.540

Servus Credit Union

-

4.000

3.000

3.040

3.550

4.390

5.140

Steinbach Credit Union

-

-

2.500

2.600

2.700

2.800

3.000

T-D Mortgage

3.200

4.000

3.000

3.040

3.550

4.540

5.140

Your Neighbourhood C.U.

-

-

3.150

3.250

3.350

3.390

3.190

This information is current as of May 16, 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 07 | NEW CONDO GUIDE 65

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