Calgary New Condo Guide - Sept 19, 2014 by NextHome

Sept 19 - Oct 17, 2014 Volume 17 Issue 10

THE WAIT IS OVER!

now selling INSIDE THIS ISSUE

CHOOSING FINISHINGS & OPTIONS: WHERE DO I START?

WHY CONDO FEES CAN VARY GREATLY

PROS & CONSIDERATIONS OF JOINING YOUR CONDO BOARD

FINAL PHASE NOW RELEASED

CHBA - Calgary Region

2013

Building One is sold out, and only a few units remain in Building Two. With Buildings Three and Four selling fast, we’re excited to announce the release of Building 5. Make your move today and make your dream a reality at Champagne – Calgary’s only pre-cast concrete residences with exceptional designer finishings and premium riverside locations.

790 - 1125 SQ. FT. ONE BEDROOMS FROM THE LOW $300S 1220 - 1695 SQ. FT. TWO BEDROOMS FROM THE LOW $500S Presentation Gallery - 350 Quarry Park Blvd SE Mon. to Thur. - Noon to 8pm • Fri - Closed • Sat & Sun - Noon to 5pm

remingtoncor p.com • 403.930.6900

Make your move with Cardel Lifestyles CALGARY’S BEST CONDO + TOWNHOME VALUE

Rendering is artist’s concept only. Subject to change without notice.

CONDOS STARTING

189,900

$ FROM -

+ GST

1+2 bedrooms condos from 544 sq ft-1,018 sq ft Choose from 12 floorplans Walk to everything SE lake community

7 CONDO FLOORPLANS

(Pre-selling from Cranston Place)

SAT, OCT 18

BACKS ONTO PARK

(Pre-selling from Panorama West)

LARGE 2 BDRM CONDOS FROM ONLY

DEVELOPMENT SALES LAUNCH

LARGE 2 BDRM CONDOS

269,900

FROM ONLY

+ GST

302 Cranston Rd SE 403.457.2670

269,900

+ GST

3 BDRM TOWNHOMES WITH GARAGE

COMING SOON

175 Panatella Hill NW 403.241.8975

Visit cardelcondos.com for all our current and upcoming developments *Prices subject to change without notice. Subject to availability.

CONDOS + TOWNS

Built for real life. CARDELCONDOS.COM

CL-CMP-1799_CONDO GUIDE_7.5x10.5_OCT2014.indd 1

Sales Centre Hours: Mon-Thur: 2 pm-8 pm Sat, Sun + Holidays: Noon-5 pm Closed Fridays

2014-09-11 4:40 PM

Y O U N G . E N E R G E T I C . C O N N E C T E D.

The developer reserves the right to make changes to the information contained herein without notice. Pricing and availability is subject to change without notice. This is not an offering for sale.

PRESENTATION CENTRE LOCATED AT 736 1ST AVE, NE OPEN DAILY 12 - 6PM, CLOSED FRIDAYS GABLECRAFTHOMES.COM 403 456 2329

1 TO 3 BEDROOM HOMES FROM $249,900

HILL

BRIDGELAND

NOW S ELLING !

INNER CITY

newcondoguide.com | VOLUME 17 ISSUE 10 | NEW CONDO GUIDE 05

INNER CITY

YOUR OWN PRIVATE ELEVATED GARDEN OASIS. CALGARY’S BEST AMENITIES, STEPS AWAY Enjoy your own private, elevated 24,000 sf garden courtyard right above the riverfront with plenty of space to walk, relax, entertain friends or just escape. Venture beyond and you are connected to all that Evolution and the East Village have to offer with every convenience, pleasure and amenity of downtown at your doorstep. What could be better than living right at the heart of it all?

· BIG BOLD LIVING SPACES UP TO 31 STOREYS ABOVE THE CALGARY SKYLINE · EMBASSY BOSA SUPERIOR CONSTRUCTION: CONCRETE WALLS & BETTER DESIGN · CONVENIENT GROUND FLOOR SHOPS & SERVICES & NEW 80,000 SF FULL-SERVICE GROCERY AT YOUR DOORSTEP · 24,000 SF OF PRIVATE ELEVATED GARDENS · STUNNING CITY OR WATER VIEWS FROM EVERY HOME

1 BEDS FROM THE $340’S 2 BEDS FROM THE $420’S 06

403 290 0992 EVOLUTIONCALGARY.COM SALES CENTRE 553 RIVERFRONT AVENUE SE. CALGARY MON–THURS, 12–6PM • WEEKENDS & HOLIDAYS, 11AM–5PM

NOW SELLING

“Let me get

that for you.” Welcome to Smith: a boutique collection of homes in the Beltline with an on-duty concierge who signs for packages, lets friends into your home and finds countless other ways to make life easier. Add in a stylish home built by Grosvenor, a world leader in crafting special homes, and suddenly, deciding why to buy just got easier too.

HOMES FROM THE MID $200,OOOs.

15 AVE SW

17 AVE SW

6 ST SW

16 AVE SW

7 ST SW

Presentation Centre 2nd Floor 850 16th Ave SW M–TH 12–6pm. S+S 12–5pm 403.264.1703 smith17.com

8 ST SW

NOW SELLING:

THE BELTLINE

Living cities

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

newcondoguide.com | VOLUME 17 ISSUE 10 | NEW CONDO GUIDE 07

TABLE OF CONTENTS

Sept 19 – Oct 17, 2014 VOLUME 17 ISSUE 10

Brad Remington Homes continues its success story with

COPPERFIELD PARK III

COLUMNS, NEWS & FEATURES 010 EDITOR’S NOTE

CONDO FEATURES

022 SAVING SPACE Streamline your move

011 COVER STORY Brad Remington Homes continues its success story with Copperfield Park III

032 CONTEMPLATING CONDOMINIUMS Why condo fees can vary greatly

016 CONDO PROFILE Birchwood releases final phase of Bristol Townhomes in Quarry Park

038 THE HOMEBUYING PROCESS Raising the bar with great features and finishings

020 CONDO PROFILE Avi Urban launches new show homes, final phase in Edison

040 CALGARYISM Five reasons to love Marda Loop

034 CONDO PROFILE Calgary’s tallest residential towers are a hit with savvy buyers

COLUMNISTS

BY SYLVIA DAOUST

BY LINDA PALFI

BY DONNA MOORE

BY CODY BATTERSHILL

042 CONDO SENSE Pros and considerations of joining your Condo Corporation Board BY CAMERON MCNEILL

052 INVESTOR ADVICE Keep your eyes on the prize BY ANDREW LA FLEUR

062 MORTGAGE MATTERS Why you should shop around at mortgage renewal time BY ALYSSA RICHARD

BY HEATHER RYAN

060 CONDO PROFILE Calbridge launching new townhome project in Fireside, Cochrane BY HEATHER RYAN

HOMEBUYERS’ HELP

028 CARDEL LIFESTYLES Cardel Lifestyles announces new Auburn Walk condos in Auburn Bay

044 NEIGHBOURHOOD PROFILE Bridgeland: An evolving, vibrant, walkable community BY HEATHER RYAN

048 DESIGNER ADVICE Choosing finishes and upgrades: Where do I start? BY YANIC SIMARD

054 FINANCES Household debt up six per cent to $76,140; more Canadians have a mortgage, fewer with credit card debt 069 MARKETPLACE Copper versus gold BY SARA DUCK

070 HOMEBUYERS’ RESOURCE SECTION 074 INDEX PROJECT LOCATION MAPS

015 Southeast Map 025 Southwest Map 031 Inner City 056 Northeast Map 059 Satellite Communities 067 Northwest Map

16 PRESIDENT, WALL2WALL MEDIA

Jacqueline Hill EDITOR-IN-CHIEF / DIRECTOR OF CONTENT

Susan Legge DIRECTOR OF SALES, NATIONAL

Josh Heppner SENIOR SALES MANAGER, WESTERN CANADA

Edwin Rizarri ART DIRECTOR

Megan Pike EDITOR

Lydia McNutt CONTRIBUTING EDITORS

Sara Duck Wayne Karl Elisa Krovblit DESIGN EDITOR

Yanic Simard

Media Consultant

Natalie Houghton 587.226.1313 Like us on Facebook: search: CalgaryNewCondoGuide

Production Manager

Bala Gnanapandithan Production Co-ordinator

Greg Van Sluytman Graphic Designers

Viosa Barileva

Published By

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. Please recycle this magazine! Wall2Wall Media participates in the Partnerâ&#x20AC;&#x2122;s In Growth Reforestation Program through St. Joseph Communications. To date, Partners in Growth has planted over two million trees in parks, recreation and conservation areas, and other public spaces across Canada. Established in 1990, this program was started with Scouts Canada to help replenish the environment.

EDITOR’S NOTE

REPUTATION COUNTS

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

You’ve agreed that a new condo is the way to go and you’re making headway, but you still have another big decision to make – choosing your home builder. It pays to check the reputation of the builder/developer before you sign on the dotted line. You can start by finding out how long the company has been in business by asking the sales representative or visiting the company’s website. Find out if previous purchasers are happy with their homes. Visit an existing community built by the company and talk to anyone you run into anyone during your tour. Naturally, you should spend some time visiting several different sales offices. Get a feel for each company and the staff employed there. Ask a lot of questions and expect to be treated with consideration and respect. No question is too “dumb.” Think twice about any development where the salespeople push you to make a decision you’re not ready for, or where they are not happy to provide you with the information you request. There are certainly many other builders and salespeople out there who pride themselves on putting the customer first. When you do find the right home and the right company, making that big decision will be a whole lot easier – and that much more enjoyable!

GET MOVING! Whether this is your first move or your tenth, changing homes is a big step that often accompanies a major milestone in your life – going off to university, getting married (or divorced!), the birth of a child, retirement, and surely there are some others in between. As if packing up your whole home wasn’t stressful enough, throw life into the mix and it’s enough to break a sweat. Hiring a reputable, reliable moving company will go a long way to ease your stress. Here are some tips, courtesy of the Canadian Association of Movers, for finding the right mover:

LYDIA MCNUTT

EDITOR

Wall2Wall Media Lydia.McNutt@wall2wallmedia.com Follow me on Twitter at Twitter.com/LydiasTweets

›› Find reputable movers through the Canadian Association of Movers and your local Better Business Bureau. ›› Ask three movers for estimates in writing. ›› Get the terms and conditions of your move in writing. ›› Ensure your goods will be protected in case of loss or damage. Moving is an exciting time, whether you’re heading across Canada or across the street. Don’t forget to enjoy the excitement of your new home, the prospect of a fresh start, and the endless possibilities awaiting you.

10 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

COVER STORY

BRAD REMINGTON HOMES CONTINUES ITS SUCCESS STORY WITH

COPPERFIELD PARK III // BY HEATHER RYAN BRAD REMINGTON HOMES ADDS ANOTHER CHAPTER TO its incredible Copperfield Park success story, giving even more people the opportunity to “Love It, Live It and Afford It,” with the launch of Copperfield Park III. “We’re really excited to be launching Copperfield Park III and building on our success,” says Bryan Logel, vice-president of sales and marketing for Brad Remington Homes. “The response to Copperfield Park II was amazing and we sold out in record time. “At our launch of Copperfield Park II, we had people lined up wanting to buy, some even overnight, and we sold 41 suites on launch day,” Logel says. Logel expected much of the same for the Sept. 13 launch, “as the momentum that we’ve created by designing top-quality homes that suit a variety of lifestyles keeps rolling. And the fact that we’ve been able to keep our homes at such an affordable price is truly amazing.”

In Copperfield Park III, some improvements to the floor plans have been made, providing additional value for buyers. “With the cost of real estate increasing, we wanted to look at ways to add more value, and by adding extra square footage we can do that at a reasonable cost,” Logel says. “We also made improvements to plans based on consultations with our past customers.” For example, the one-bedroom F plan has been redesigned and enlarged to offer super affordability newcondoguide.com | VOLUME 17 ISSUE 10 | NEW CONDO GUIDE 11

“ This plan was incredibly popular in Copperfield Park II, so the idea to make it larger was easy, and by doing so it will appeal to a wider range of buyers”

for buyers in Copperfield Park III. “This plan was incredibly popular in Copperfield Park II, so the idea to make it larger was easy, and by doing so, it will appeal to a wider range of buyers. “Our customers also said they like the B plan, but would love for the bedrooms to be bigger, so we’re doing that in our next phase and the C2 plan, which is larger, will replace the C1 plan,” Logel adds. Copperfield Park III will be comprised of four, four-storey buildings with 304 suites. There will be seven plans to choose from ranging from approximately 565 to 973 sq. ft. in one-, two- and three-bedroom layouts priced from the high $140,000s to the mid-$200,000s – making the suites incredibly affordable for a wide demographic of buyers.

12 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

expansive counter space, slab or mission-style cabinets that come in three different colour choices, four appliances – fridge, stove, dishwasher and over-the-range microwave – in-suite laundry with the washer and dryer included, and private balconies for outdoor entertaining. Buyers can also customize their homes with optional upgrades such as a fireplace, granite countertops, air conditioning and/or hardwood flooring, to name a few. Copperfield Park III will present an eye-catching look with premium siding and brick accents, and professionally landscaped grounds. Residents of Copperfield Park appreciate the great location situated off McIvor Boulevard near the BRT bus stops, grocery stores, restaurants, shops, services and minutes away from the South Calgary hospital, as well as a wide range of new amenities being developed in Seton. The location also provides easy connections to Stoney Trail, 130 Avenue S.E., Deerfoot Trail and 52 Street S.E. For more information on Copperfield Park III, people are welcome to visit the sales centre at located at 755 Copperpond Blvd. S.E., open Monday to Thursday, 2 to 8 p.m.; and weekends and holidays, noon to 5 p.m. You can also visit online at copperfieldpark.com, or call 403.723.0094.

“When we look at all the potential purchasers in Copperfield Park III, there really is something there for everyone, and we offer a titled parking stall and storage unit with each suite, as well as our superb level of specifications and high quality construction,” Logel says. The well-appointed interiors include full-sized kitchens with newcondoguide.com | VOLUME 17 ISSUE 10 | NEW CONDO GUIDE 13

SALES CENTER

W AY 2

HW AY 1

HEARTLAND QU

IGL

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HORSE CREEK ROAD

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TO CALGARY

GRIFFIN RD.

FOX TR

*Principle + interest, based on 5% downpayment. 14

BLV

MCKNIGHT BLVD.

16 AVENUE 12 AVENUE

68 STREET

EDMONTON TRAIL

CENTRE STREE

TRA

14 STREET

32 Ave

16 AVENUE

RIVE RIAL D

MEMO

RIAL D RIVE

SOUTHEAST COMMUNITIES 36 STREET

MEMO

1797 Copperfield Blvd SE

211 Mahogany Way

13 M OSAIC CRANSTON BY BROOKFIELD HOMES

114 AVE SE

DEERF18 OOT T RAIL

206 Cranford Drive SE

W BO

NEW BRIGHTON

14 B OULEVARD TOWNES BY BIRCHWOOD

M TTO BO

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12 E BONY BY JAYMAN MODUS

84 STREET

52 STREET

BARLOW TRAIL

GLENMORE TRAIL

ANDERSON ROAD

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RN OF LO

COPPERFIELD

AUBURN BAY

CRANSTON

03 04 10

16 06 08 13

Corner of Cranford Dr and Cranston Gate SE Register: www.cardellifestyles.com/ cranston-ridge

02 C OPPERFIELD PARK BY BRAD REMINGTON HOMES 279 Copperpond Common S.E.

03 M USKOKA BY BROOKFIELD HOMES 65 Auburn Meadows Way

04 MOSAIC LAKESIDE AUBURN BAY BY BROOKFIELD HOMES

01 C RANSTON RIDGE BY CARDEL LIFESTYLES

16 A UBURN BAY BY STONECROFT

MAHOGANY

CHAPARRAL

116 Quarry Park Way SE

02 11

LEO

Mac

S JAME

EK P ARK

SHAWNESSY BLVD.

Coming Soon 25 Auburn Meadows Ave SE

11 C HALETS IN COPPERFIELD BY SABAL HOMES

SOUTHLAND DRIVE

FISH

10 C ANOE BY AVI URBAN

52 STREET

ELBOW DRI VE GLENMORE RESERVOIR

17 Ave

BLACKFOOT TRAIL

17 Ave

MacLEOD TRAIL

ILD

SETON BLVD.

Corner of Seton Blvd and Auburn Bay Link SE

17 M OSAIC MIRAGE BY BROOKFIELD HOMES 347 MacKenzie Towne Gate

18 T HE GATES BY REMINGTON DEVELOPMENT CORPORATION Presentation Centre: 350 Quarry Park Blvd SE

19 C HAMPAGNE BY REMINGTON DEVELOPMENTCORPORATION

05 L EGACY STREET TOWNS BY HOMES BY AVI

Quarry Park Blvd SE remingtoncorp.com

Now Open 42 Legacy Blvd SE

20 C RANSTON PLACE BY CARDEL LIFESTYLES

06 Z EN BY AVALON MASTER BUILDER

302 Cranston Road SE

22 M AHOGANY STREET TOWNS BY HOMES BY AVI

82 Auburn Bay Link SE

08 M USKOKA BY BROOKFIELD HOMES

13 Marine Dr SE

23 S YMMETRY AND HARMONY BY STONECROFT

27 Auburn Bay Link SE

09 B RISTOL TOWNHOMES BY BIRCHWOOD NOW SELLING

121 Copperpond Common SE

232 Quarry Park Blvd. SE

27 Auburn Bay Link SE

COPPERFIELD PARK III LOVE IT. LIVE IT. AFFORD IT.

CONDOS* FROM THE $130’S +GST Titled parking stall included.

www.copperfieldpark.com 403.723.0094 newcondoguide.com | VOLUME 17 ISSUE 10 | NEW CONDO GUIDE 15

CONDO PROFILE

Birchwood releases final phase of

BRISTOL TOWNHOMES in QUARRY PARK // BY HEATHER RYAN

uyers who dream of owning an upscale townhome in Quarry Park are down to their last opportunity to make it a reality with the final phase release of Bristol Townhomes by Birchwood Properties. Bristol Townhomes presents a fabulous collection of 35 modern three-storey townhomes with either single- or double-car garages that have been so well received, the first phase sold out quickly and sales are strong in the remaining phase. “We sold out our Boulevard Townes ahead of what we expected, and we’re now more than 50 per cent sold in our Bristol Townhomes, which are the last of the townhomes in Quarry Park,” says Birchwood’s sales and marketing manager Adele Kerr. “So, with the release of our final phase, it’s really the final chance to get a townhome in Quarry Park. “We’ve had a very busy summer with large numbers of people going through our sales centre,” she says. “We’re seeing a lot of interest and we anticipate selling out before December.” 16 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

As well, with construction well underway interest has been boosted further “because people can really see the scope of the project,” Kerr adds. “The first homes are in the drywall and finishing stage, so people can walk through them and appreciate the layouts.” The Bristol Townhomes present beautiful exteriors with extensive stucco and stone detailing and, combined with the three-storeys, “they create a grand streetscape,” she says. There are four models ranging from 1,313 to 1,590 sq. ft, in two- or

The community offers a perfect balance of residential, office, retail and natural green space all nestled alongside the Bow River, making it an ideal place for people to live, work and play

community because it offers already established amenities, “yet it’s a brand new community with new homes and great access to both Deerfoot and Glenmore.” The community offers a perfect balance of residential, office, retail and natural green space all nestled alongside the Bow River, making it an ideal place for people to live, work and play. Residents will be pleased that they can walk to The Market in Quarry Park, which serves as the central plaza and gathering place featuring intricate landscaping, wide sidewalks and site furnishings, and offers a variety of shops, services, restaurants, and a Co-op grocery and liquor store. Plus, residents can enjoy more than 80 acres of parkland and a new recreation centre that is scheduled to open in 2015. As an added benefit, Quarry Park is serviced by a Bus Rapid Transit line that connects to the downtown, as well as numerous other bus routes connecting to both Anderson and Chinook LRT stations. It has easy access to Glenmore and Deerfoot Trails, and it’s only 15 minutes from downtown.

three-bedroom options with two-and-a-half bathrooms starting at $445,900 plus GST. Possessions on the first buildings are scheduled for October. The townhomes showcase sought-after features such as laundry on the top floor by the bedrooms, a main-floor flex-room ideal for a home office, a hobby room or TV room, main-floor patio and second-floor balcony, and a second-floor tech space (in the larger models). Buyers appreciate the wellappointed interiors that include hardwood floors, nine-ft. ceilings on the main and second floors, quartz countertops, stainless steel appliances, under-cabinet lighting in the kitchen, vessel sinks in the main bathroom and ensuite, and ceramic tile floors in the bathrooms and laundry. The townhomes also feature several environmental initiatives such as Energy Star-rated appliances, high-efficiency furnace, low-E Solar Gain windows, watersaving toilets and showerheads, and Green Guard-certified or formaldehyde-free insulation. Kerr says a major attraction for buyers is that Quarry Park has the feel of an established inner-city

To learn more about Bristol, visit the sales centre at 322 Quarry Park Blvd. S.E., open Monday to Thursday, 2 to 8 p.m.; weekends and holidays, noon to 5 p.m. Call 403.561.1911 or visit birchwoodproperties.ca.

NO W

SOUTHEAST

LL IN

Quarry Park’s latest masterpiece offers one, two and three bedroom residences with a long list of outstanding specifications inside and out – all in a stunning riverside location. Step into the good life today at the Gates in Quarry Park, Calgary’s most diverse community. 770 SQ. FT. ONE BEDROOM + DEN FROM THE

$290s

1020 – 1315 SQ. FT. TWO & THREE BEDROOMS FROM THE

$360S

PRESENTATION GALLERY 350 Quarry Park Blvd SE Mon to Thur - Noon to 8pm Fri - Closed Sat & Sun - Noon to 5pm

403.930.6900 18

remingtoncorp.com

CONDO PROFILE

AVI URBAN

launches new showhomes, final phase in Edison // BY HEATHER RYAN

xcitement is in the air as Avi Urban has reopened the doors to its Edison sales centre in Walden showcasing four new showhomes and releasing the final phase in this hugely successful townhome project. “After an incredible launch and seeing the first homeowners take possession in May, we’re excited to open new showhomes and release 21 more townhomes, giving people an opportunity to choose from all six models,” says Charron Ungar, president of Avi Urban. “From the very start of this development concept, we knew that

Edison would be special and we’re getting a great response from buyers who love the homes, great location, stylish floor plans and excellent exteriors. “The transitional style blending both traditional and modern elements into one signature style was a risk, but one that was most definitely worth taking,” he says. Avi Urban, the multi-family division of Homes by Avi, is crafting Edison in the south Calgary community of Walden, comprised of 157 three-storey townhomes with two or three bedrooms, double-car attached garages and a full driveway providing parking for three vehicles starting in the $300,000s. The townhomes range from 1,130 to 1,400 sq. ft. and feature modern, open-concept designs that make maximum use of space and appeal to the differing tastes and lifestyles of today’s buyers. Smart floor plans offer clever interiors that include features such as nine-ft. ceilings on the main floor, oversized windows, tile in the kitchen and bathrooms, and delicious kitchens highlighted by full-height glass

“The transitional style blending both traditional and modern elements into one signature style was a risk, but one that was most definitely worth taking,” says Charron Ungar, president of Avi Urban mosaic tile backsplashes and extended-height custom cabinetry. Buyers will appreciate the brilliant bathrooms that come with rain showerheads, vessel sinks, glass mosaic tile backsplashes, and showers with full-height tile and glass doors. Homes also come with oversized private balconies, and buyers are able to personalize by choosing the colour of their front door from five unique selections. Customizable options are also available. Edison also offers environmentally friendly features such as high-efficiency furnace, low-E windows, a comprehensive home insulation system and Energy Star-rated appliances. The townhomes present low-maintenance exterior finishes, James Hardie siding and an eclectic take on modern architecture for an esthetically pleasing look. Further, residents will love having a fully landscaped central park at their doorstep – an Avi Urban signature in many of its developments. “The variety of floor plans appeals to a broad range of homebuyers, from first-time homebuyers to those looking to move up from an apartment,” says Ungar. “Young and vibrant homeowners are choosing Edison because of the innovative design, unique architecture and incredible location. “They’re also excited about the abundance of private outdoor living space that they’ll get with a balcony off their main living area and fenced at-grade patio, plus the lushly landscaped central park,” he says. Buyers also love the walkability, as Edison is just steps away from neighbourhood conveniences. They can stroll to a Save-On-Foods grocery store, Starbucks, Shoppers Drug Mart, restaurants and services at the Gates of Walden.

Residents can also enjoy Walden’s many pathways, parks and green space, and they have easy access to Stoney Trail and Macleod Trail with all its amenities and the LRT at Somerset. To learn more about Edison, visit the showhomes at 283 Walden Dr. S.E., open Monday to Thursday, 2 to 8 p.m.; weekends and holidays, noon to 5 p.m.; and Fridays by appointment only. Call 403.536.7236 or visit aviurban.com/edison.

SAVING SPACE

// BY SYLVIA DAOUST

Streamline

YOUR MOVE

f you’re moving into a smaller space, getting everything you own from point A to B can seem impossible to coordinate. Minimize the stress that comes with relocating by creating a plan well in advance. Try these tips and make your move a little more manageable. » Make a master list This transition period can make the most organized person feel scattered! A list made weeks ahead will allow you to organize your thoughts and check items off as you go. Don’t forget to include deadlines, as some items need to be done before others. Sylvia Daoust, owner of Niche Small Space reDesign, is one of Calgary’s only professional organizers with expertise in small spaces. She is renowned for simplifying homes and offices with mini renovations, redesigned rooms and tricky organization projects. Join her blog, nicheredesign.com/blog/ where smart solutions transform challenging spaces every week! Follow Sylvia on Facebook.com/nichedesignsinc and Twitter@SylviaDaoust

» Made to measure Do you know which current furniture pieces will fit into your new space? Arrange a room to play with the layout. » Get your new place ready Schedule time or hire someone to paint, clean, and make minor touch-ups to your new place before your moving day. Any projects you have planned will be easier to complete without boxes and furniture in the way. » Purge Now is the time to say “goodbye” to everything you haven’t used since your last move! Pay attention to the amount of storage space you’ll have in your new space. This will help you make good decisions on the volume of items you can keep. » Donation or dump? Schedule a donation pick-up, or rent a bin when you are certain you’ll need it! Make time to sort through the excess in advance. » Parts & pieces It’s very frustrating to put electronics and disassembled furniture back together with missing parts. Take a picture for reference and then stash all the parts/cords in a Ziploc bag, clearly labeled.

A list made weeks ahead will allow you to organize your thoughts and check items off as you go

» The essentials Before you get into packing boxes, grab a couple of suitcases and pack the essentials you’ll need to find during the first week in your new home. Items like clothing, toiletries, and a set of sheets should be set aside so they don’t land an the bottom of a large box! » Miscellaneous items As you start to pack room-specific boxes, you’ll come across miscellaneous items that don’t belong in any specific room. Set these aside and use them as “filler” for boxes that still have space. Check out October’s Issue for Part 3 of this Downsizing Series!

22 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

SOUTHEAST

SOUTHWEST

The hunt is over. With high-end finishes, quartz countertops, and stainless steel appliances, townhomes at Hunter House set a new standard for living in southwest Calgary. Not to mention an attractive architectural design complete with attached double car garage. Stop searching and come home to Hunter House in Silverado. Townhomes from the $390â&#x20AC;&#x2122;s and Stacked Bungalows from the $500â&#x20AC;&#x2122;s.

Check out HunterHouseLiving.com for more information. Visit our showhomes at 220 Silverado Plains Park SW Call us at 403.240.4664 24

TR AIL PI NA SH AG AN

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HN CR LA OW UR IE CH BLV ILD D. TR AIL

CALGARY INTERNATIONAL AIRPORT

64 Ave

16 AVENUE

SARCEE TRAIL

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IV E 03 OVATION

BY INTERGULF CIDEX

36 STREET

03 17 Ave

05 11

#2105, 99 Spruce Place S.W.

04 T HE LANDINGS BY STATESMAN

771 Patrick St. S.W.

05 O VERTURE BY JAYMAN MODUS

Sales Centre Now Open in Currie Barracks

06 S AWYER SILVERADO BY AVI URBAN 175 Silverado Blvd S.W.

07 G LAS BY AVALON

GLENMORE RESERVOIR

BARLOW TRAIL

ORE

MacLEOD TRAIL

1020 194th Ave S.W. www.hunterhouseliving.com

ME M O R I AL

37 STREET

GLE

69 STREET

85 STREET

01 H UNTER HOUSE BY STREETSIDE DEVELOPMENT 16 AVENUE

BLACKFOOT TRAIL

OLD BANFF COACH ROAD

32 Ave

EDMONTON TRAIL

14 STREET

ENU

ELBOW DRI VE

16 A V

CENTRE STREET

SOUTHWEST COMMUNITIES

SOUTHLAND DRIVE ANDERSON ROAD

DEERF

OOT T

W BO

CRE

Presentation Centre: 2719 14th St. SW

09 M ISSION 34 BY ASSURED COMMUNITIES

11 J UNO BY AVI URBAN

AIL

194 AVE

AIL D TR LEO SHERIFF KING ST. SW

VITT

McKE 01 06

Mac

S JAME

SHAWNESSY BLVD.

08 A LEX BY ASSURED COMMUNITIES

98 Mission Road SW mission34.ca

EK P ARK

TTO BO

FISH

RAIL

2712 17th St. SW

IS OF

U MARQ

E LORN

TRAIL

Sales Centre in Currie Barracks J5, 2953 Battleford Ave. SW

12 E IGHTY5NINE BY VERTICAL PROPERTIES

882 - 85 Street SW eighty5nine.com

newcondoguide.com | VOLUME 17 ISSUE 10 | NEW CONDO GUIDE 25

CELEBRATING SUCCESS

WALL2WALL MEDIA would like to congratulate all of the 2014 CHBA–Alberta Awards of Excellence Finalists

WALL2WALL MEDIA is proud to once again be a Gold Sponsor of the CHBA–Alberta Awards of Excellence in Housing

Downsize, Don’t downgrade. Find out what’s cooking at Hunter House! With high-end finishes, quartz countertops, and stainless steel appliances, stacked bungalows at Hunter House set a new standard for living in southwest Calgary. Not to mention a gorgeous new kitchen that’s sure to impress your dinner guests. Townhomes from the $390’s and Stacked Bungalows from the $500’s.

Check out HunterHouseLiving.com for more information. Visit our showhomes at 220 Silverado Plains Park SW Call us at 403.240.4664 27

IN THE NEWS

CARDEL LIFESTYLES

announces new Auburn Walk condos in Auburn Bay – a truly walkable location

CARDEL LIFESTYLES, ONE OF

Calgary’s leading multi-family builders, is bringing a unique condo collection to the award-winning lake community of Auburn Bay. Showcasing attractive lowrise architecture reminiscent of Muskoka cottage country, Auburn Walk features two 88-unit buildings comprised of one- and twobedroom condos ranging from 544 to 1,019 sq. ft. With 12 floor plans to choose from – most with large patio decks – Auburn Walk buyers enjoy a wide array of lifestyle-oriented condo options loaded with features and backed by 40 years of building 28 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

expertise. Hailed as one of the most attractive suburban condo locations in the city, Auburn Walk offers residents stunning city and mountain views and a maintenance-free lifestyle in a relaxed, pedestrian-friendly community, right next door to the future shops of Auburn Station. Just steps away are Auburn Walk’s 13-acre centrepiece park, a 43-acre freshwater lake with a private residents’ beach and Auburn House, the neighbourhood’s impressive community centre. So too are the South Health Campus and a future school. Radiating outward from Auburn Walk are even more amenities, including the nearby Seton Urban District, whose showcase Market Street offers a vibrant, eclectic mix of shops, boutiques, cafes, conveniences and recreational opportunities. Commuting connections are made easy with convenient access to Deerfoot Trail, Stoney Trail and 52 Street, plus citywide transit links and future LRT. Having so much to experience makes Auburn Walk an ideal live-play-work community. Sales are slated to launch in fall 2014. To register for community updates and VIP selection status, visit cardelcondos.com.

INNER CITY 11 S OBOW BY M2I DEVELOPMENTS CORPORATION 1640-170A St. SE

RILEY PARK

6 AVE N

5 AVE N

VE 4A

12 K ENSINGTON BY BUCCI

V 2A

SUNNYSIDE 20 STATION

ROTARY PARK

PRINCE’S ISLAND PARK

301 10th St. NW Coming Soon

13 F IRST BY FRAM + SLOKKER

EAU CLAIRE04 MARKET

East Village Experience Centre 553 Riverfront Ave. SE

16 S TEPS BRIDGELAND BY GIUSTINI BRIDGES IN.

Sales Centre 921 - 1st Ave. NE

4 AVE S

13 18

5 AVE S

17 9 16 BY SABLE DEVELOPMENTS

6 AVE S

MILLENNIUM PARK

19 CONVENTION CENTRE

1 ST W

12 AVE S

MOUNT ROYAL VILLAGE

26 AVE S

TALISMAN SPORTS CENTRE

10 ST W

CALGARY EXIBITION AND STAMPEDE PARK ERLTON / STAMPEDE STATION

PROSPECT AVE

VICTORIA PARK / STAMPEDE STATION

4 ST W

5 ST W

CLIFF ST

17 AVE S

23 AVE S

1 ST E

COLONEL BELCHER HOSPITAL

OLYMPIC WY

11 2 ST W

11 AVE S

4 ST W

5 ST W

8 ST W

10 ST W

9 AVE S

26 AVE S

01 R IVERFRONT POINTE BY CARLISLE GROUP

06 A VENUE BY GROSVENOR & CRESSEY

02 P ARK POINT BY QUALEX-LANDMARK

07 S MITH BY GROSVENOR

101 Riverfront Avenue S.E.

Coming Soon Register now at Qualex.ca/ ParkPoint

03 4 3 PARK BY VERICON REAL ESTATE VENTURES 43park.ca

04 W ATERFRONT BY ANTHEM PROPERTIES 216 Riverfront Ave. S.W.

05 T HE GUARDIAN BY HON TOWERS

12th Ave SE at 3rd St.

916 Memorial Drive

FORT CALGARY

CITY HALL

MACLEOD TR

REYHOUND US TERMINAL

1035 5th Ave. SW

Visit Sales Centre at 850-16th Ave. SW, 2nd Floor

08 D ISTRICT BY BOULEVARD INVESTMENTS Sales Centre Now Open 305 18th Ave. SW

18 E VOLUTION BY EMBASSY BOSA INC.

East Village Experience Centre 553 Riverfront Ave. SE

19 V ERVE BY FRAM + SLOKKER

Sales Centre Now Open in East Village

20 L IDO BY BATTISTELLA

Sales Centre 1120 Kensington Rd

21 V &V BY PROVIDENCE GROUP Register: einsteincalgary.com

22 A LEX BY ASSURED COMMUNITIES

Presentation Centre: 2719 14th St. SW

23 M ISSION 34 BY ASSURED COMMUNITIES

98 Mission Road SW mission34.ca

25 B RIDGELAND HILL BY GABLECRAFT HOMES 516 Edmonton Tr. NE Coming Soon

09 L iFFT BY VERICON REAL ESTATE VENTURES

Coming soon to Renfrew-Bridgeland liveLiFFT.com

10 B RIDGELAND CROSSINGS BY GABLECRAFT HOMES bridgelandcrossings.ca

newcondoguide.com | VOLUME 17 ISSUE 10 | NEW CONDO GUIDE 31

CONTEMPLATING CONDOMINIUMS

// BY LINDA PALFI

WHY CONDO FEES can vary greatly

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 of the Calgary Real Estate Board. Further articles and her Calgary Condo Directory can be found online at CondosInCalgary.com. Call Linda for more information at 403.998.7732

ondo fees are like city taxes – there is no profit margin in them, and they are set in direct proportion to the cost of maintenance and the level of service we demand from our elected officials. In fact, they are not “fees” to a third party, but contributions that condo owners make to the upkeep of the common elements of their homes. There are numerous reasons why condo fees can be higher or lower between neighbouring condos – and lower is not necessarily better! One condo Board, for example, may be ignoring looming capital costs, like replacing water lines, hot-water boilers and the roof. At first glance they may look like geniuses for keeping condo fees so low. Yet when the roof and pipes leak, that Board may have no cash reserves, so owners will face a large special assessment to quickly raise the funds for repairs. Right next door, homeowners may be paying $50 per month more.

Yet a look at the books could show they have saved $1,500 for each of the 100 living units – sufficient to cover pending capital expenses and to have a cushion left over afterwards. As well, that development may be providing a higher level of service to its owners in the form of better snow removal, landscaping and maintenance touch-ups that reflect pride of ownership. Typically, townhouses have lower condominium fees than apartment condos, simply because townhouses usually have their own furnaces, while apartments have central heat. Either way, you pay to stay warm in the winter. Another factor for highrise condos is the surprisingly high costs in electricity and maintenance for elevators. Then again, townhouses can have acres of grass to be cut and fences that need painting and replacement. Recreation facilities can be expensive to operate. If you don’t use them, why buy into a development in which you’ll pay to maintain them? Calgary has some highrise condo buildings with great indoor swimming pools – filled with crushed gravel and a few potted plants plopped on top! Owners could not justify the costs of continued operation or overhaul of the aging facilities.

Don’t be afraid of condo fees. They may mean you’re looking at a well-run development, not afraid to charge what it costs to do the job right. The type of construction can also be a factor in the monthly fees needed to run a condo development properly. Some concrete buildings and parking structures were built using post-tensioned cable-reinforced concrete construction. While most such buildings are just fine to buy into, some have had extensive – and expensive – repairs made, and virtually all of them require engineering inspection every few years, perhaps followed by more minor remedial work. These can be great buildings offering open floor plans and fine views, but there will be some on-going cost to all the owners. New developments, of course, have all new components, and thus may face few capital costs for several years. Even so, some developers are a bit optimistic about what it will really cost to run a complex when the purchasers become owners of the condominium corporation. Often, operating reality soon shows that proper maintenance and reserve-fund contributions for future major expenses require an increase in fees from what was represented in the show suite. Don’t blame the sales representative for the optimistic presentation. Just increase the numbers 25 to 50 per cent within two years for your own comparison and budget purposes. In short, you get what you pay for. If you buy a condo with low maintenance fees, it may see little in the way of services or reserve-fund protection. Don’t be afraid of condo fees. They may mean you’re looking at a well-run development, not afraid to charge what it costs to do the job right.

32 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

INNER CITY

A NEW PERSPECTIVE ON URBAN LIVING

The Guardian’s two-bedroom, two-bathroom suites offer panoramic double-exposure views of the city, rivers and mountains from Calgary’s tallest residential tower.

FEATURES

• Imported Italian Armony Cucine cabinetry and professional-grade induction cooktops by AEG • Optimized ﬂoor plans and open concept interior design

SUITE 02

814 SQ FT + 79 SQ FT Balcony

SUITE 04

809 SQ FT + 139 SQ FT Balcony Starting at $436,900

SUITE 07

904 SQ FT + 115 SQ FT Balcony* Starting at $535,900

SUITE 09

979 SQ FT + 133 SQ FT Balcony* Starting at $578,900

Starting at $455,900

• First-class amenities: Fitness centre and yoga studio, workshop, social lounge and garden terrace PRESENTATION CENTRE 456 -12th Avenue SE TEL 403 800 3368 Mon – Thurs 12 – 6PM

Sat & Sun 12 – 5PM

Includes parking space for two vehicles

Developed by Hon Developments. Renderings are artist’s interpretation. Prices subject to change without notice. E&EO. 33

CONDO PROFILE

CALGARY’S TALLEST RESIDENTIAL TOWERS are a hit with savvy buyers

// BY HEATHER RYAN

esidences at The Guardian are a hit with savvy buyers, who are drawn to the modern design, exceptional finishes, and the up-andcoming Victoria Park location of this highrise condominium project, which will be Calgary’s two tallest residential towers. The first of The Guardian’s 44-storey towers was recently crowned as Calgary’s tallest residential tower, and now the second tower is under construction and making a dramatic impact on the city skyline. Together, the remarkable height and distinctive architecture make The Guardian a recognizable landmark in the city and a coveted address. “With the first tower sold out, sales are going extremely well in Guardian South,” says Ernest Hon, director of sales and marketing at Hon Developments. “We are getting a great response from Calgary homebuyers, and lots of visitors to our award-winning presentation centre located in the historic Victoria Park Bungalow Schoolhouse. Here, buyers can experience first-hand the high-quality finishes and discover the optimized floor plans that we offer.” The Guardian has a variety of suites, including one-bedroom plans ranging from 441 to 572 sq. ft., two-bedroom units from 809 to 979 sq. ft., and the remarkable Paramount Suites, which have interior spaces of up to

34 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

2,619 sq. ft. “The efficient floor plans are one of the big reasons The Guardian has been so successful,” Hon explains. “We’ve carefully optimized the suites to avoid any wasted space in hallways and interior dens, and maximized functional living space near the windows that have an abundance of natural light.” Each of the 308 homes at The Guardian have floor-to-ceiling windows, and oversized balconies provide that sweeping panoramic view. “The Guardian’s unique vantage point amongst the lowrise buildings of the historic warehouse district in Victoria Park means that these units will always have

non-porous quartz countertops and seamless aluminum or glass backsplashes are designed to be both beautiful and easy to clean. The superior Armony Cucine cabinetry can also be found in the elegant bathrooms, and complements sleek polished-chrome fixtures, frameless glass showers and a unique micro-mosaic tile feature wall. Buyers will also be impressed with the on-site amenities that include a fully equipped fitness centre, yoga studio, workshop, residents’ social lounge and rooftop garden terrace. A great selection of suites is still available, with prices starting in the $250,000s, two-bedroom suites in the $440,000s and the spectacular Paramount Suites starting at $1.4 million. Construction is well underway for completion in fall 2016. “The Guardian South has already surpassed the 19th floor of construction, months ahead of schedule, so our purchasers can be confident that their homes will be completed on time,” Hon says. “The Guardian is unique in the condo development market, as residents will be able to move into their new homes in less than two years.” For more information, visit The Guardian’s presentation centre at 456 12th Ave. S.E, open Monday to Thursday, noon to 6 p.m.; weekends, noon to 5 p.m. Call 403.800.3368 or visit theguardiancalgary.com.

breathtaking views of the city skyline, rivers, and mountains,” Hon says. One of the greatest assets for The Guardian is the Victoria Park neighbourhood, which over the past decade has seen a dramatic transformation. Recently, many of the historic warehouses have been converted into studios for creative professionals and innovative small businesses, while hip new restaurants and cafes have opened to meet the new demand, including hotspots such as Village Ice Cream, Caffe Rosso and Vagabond micro-brewery. The modern, open-concept interiors feature high-quality finishes than span throughout the suite, like the wide-plank laminate wood flooring. The kitchens feature high-end cabinetry manufactured in Italy by Armony Cucine that offers unparalleled quality, functionality and durability. The appliances are sleekly integrated into the cabinetry and include a professional-grade induction cooktop by Germany’s AEG. The newcondoguide.com | VOLUME 17 ISSUE 10 | NEW CONDO GUIDE 35

ALBERTA’s #1 CONDO BUILDER

MAYBE IT’s BECAUsE WE’RE sO EAGER TO PLEAsE

NOW SELLING IN 6 LOCatIONS aLBERt PaRK: vISIt thE CENtRaL SaLES CENtRE aIRDRIE: ShOW SuItE OPEN COChRaNE: By aPPOINtMENt ONLy LEGaCy: By aPPOINtMENt ONLy KINCORa EMERaLD SKy: COMING SOON

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MCKENZIE WAY YANKEE VALLEY BLVD SE

HIGHWAY 2

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MAIN ST

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THE HOMEBUYING PROCESS

Raising the bar with

// BY DONNA MOORE

GREAT FEATURES AND FINISHINGS

Donna Moore is executive officer of the Calgary Region Home Builders’ Association. Call 403.235.1911 or visit crhba.com

hen touring show suites, today’s new home buyers will discover many builders have raised the bar by offering a full range of quality features and finishes, and are setting new standards for value, character and individuality. Calgary and area new-home builders also offer buyers a wide range of options and upgrades, making it easier for them to personalize their home and get exactly what they want, right from the very beginning. The variety of features and finishings outlined here are just a few of the many homebuyers will discover during their home search in the Calgary region. What you’ll likely find first when it comes to features is underfoot. When visiting show suites, you’ll notice that floor coverings are an integral part of the character of the home. They make a statement and set the tone for style.

Builders are being creative with flooring, often combining different types such as hardwood, tile and carpet, matching them to the style and intended use of each room or area, or using them to transition or define spaces in open-concept designs. When entering a show suite, don’t forget to look up. Builders have also become more creative with what’s overhead, as ceilings are being designed to draw attention with eye-catching styles from coffered and tray ceilings, bulkheads, sloped and vaulted designs. Builders also continue to pay careful attention to the details in the kitchen. The recent trend is toward large, central islands with breakfast bars for casual meals or socializing – and they offer plenty of food prep space. Kitchen cabinets often set the tone, from wood to sleek steel and glass, which are complemented by countertops – granite is popular – that create looks from traditional to contemporary. Kitchen sinks too come in a variety of materials and colours, while faucets range from clean contemporary to ornate Victorian, to match the kitchen’s style. You’ll also find lots of storage ideas from innovative shelving and pullouts, to walk-in or walk-through pantries. Bathrooms run the gamut, from functional four-piece designs to luxurious spa-like ensuites with dual vanities, soaker tubs and oversized walk-in showers. The selection of fixtures is amazing and can be styled to suit any buyer’s tastes. One often overlooked finishing touch is moulding, which some say ties it all together. Show suites are a great place to see the various styles, sizes and profiles available, and the impact they have on the overall look. Another key feature is lighting because it creates different atmospheres. Styles range from pot lights, to drop lights, chandeliers, indirect and rope lighting, all designed to create a certain ambience for each room. Along with these, there are many other features and options to consider when buying a new home or condo, which is why builders and their sales staff work closely with customers to explore what’s available and help them make choices that suit not only their tastes and needs, but also their budget. It’s also why people should visit the various show suites out there, to see the wide range of choices available and get a better feel for what they like when it comes time to buy. Many builders, too, have their own design showrooms where a variety of products are on display and specialized designers can help the homebuyer pick the right assortment of products to truly make their home a reflection of their style – and lifestyle.

38 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

Modus Booklet September 2014.indd 1

9/9/2014 10:21:56 AM

LIFE HAPPENS ON THE INSIDE. So youâ&#x20AC;&#x2122;re looking for a condo or townhome that fits your life. Take a moment to think about this. Modus offers more choice in Alberta than any other multi family builder. The largest combination of interior options, amenities, models, building styles, communities, cities, price points and services. With choices like this your new home is really only limited by your imagination.

SO BUILD YOUR HOME AROUND YOUR LIFE NOT THE OTHER WAY AROUND.

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9/9/2014 10:21:58 AM

W I T H M O D U S YO U G E T: ■■■

........................................................... a solid and thoughtfully designed product based on 30 plus years of industry experience.

■■■

the best in industry interest rates.

■■■

into your home easier with our down payment savings program.

■■■

an improved quality of living with included amenities like gyms, courtyards, parks, party rooms and more.

■■■

a smooth transition with our complimentary moving van.

■■■

help selling your home for the best possible market value.

■■■

one year jayman service warranty.

■■■

to save money on legal fees.

Modus Booklet September 2014.indd 3

9/9/2014 10:22:00 AM

Buying a home is possible!

ASK US

about the Jayman Modus Down Payment Savings Program The Jayman Modus Down Payment Savings Program is an opportunity to continue saving money towards your down payment while your home is being built. Program suitable for Pre-Sale homes and homes with 6 month + occupancy. Example. Purchase October 2014 with occupancy May 2015 Purchase Price

330,000 plus GST 16,500 (GST) 5,940 (Rebate if applicable) 340,560 5% down $17,028

Payment Structure

1000 7,514

Deposit Hold October 2.5% (consolidation - approximately 10 days)

Remaining 8,514 staggered monthly until last payment 45 days prior to possession November 1702.80 December 1702.80 January 1702.80 February 1702.80 March 1702.80

Modus Booklet September 2014.indd 4

9/9/2014 10:22:02 AM

Modus Booklet September 2014.indd 5

9/9/2014 10:22:03 AM

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OUR

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modusmatrix.com DOWNLOAD THE APP TO YOUR PHONE OR TABLET & SCAN THIS AD FOR AN UNREAL HOMEBUYING EXPERIENCE.

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9/9/2014 10:22:10 AM

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Building 2 JUST RELEASED

3 bedroom townhomes with double car garage

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featuring:

• 1411–1466 sq ft boulevard homes • 1578–1638 sq ft extra wide ravine view homes • Almost all homes have south facing decks • Double master options • Open concept • 9’ ceiling • Flex space on lower level • Stainless steel appliance package • Washer & dryer

• 870 sq ft – 2543 sq ft • Airy 10’ ceiling heights • Upscale premium finishes; quartz waterfall countertops, 5” hardwood flooring, tile flooring, KitchenAid stainless steel high end appliances • AC • up to 512 sq ft decks on floors 1-3; up to 1347 sq ft decks on 4th floor • Underground heated garage

from

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Modus Booklet September 2014.indd 8

$470’s to $1.7m++GST

from +GST

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9/9/2014 10:22:17 AM

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C O

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from

$330’s

+GST

211 Mahogany Way SE

Modus Booklet September 2014.indd 9

featuring: • 7 floor plans • 622 sq ft – 1040 sq ft • 9’ ceilings • Engineered laminate flooring • Ceramic tile flooring • Granite countertops • Stainless steel appliances • Washer & dryer • State of the art fitness gym • Underground heated parking

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Move in Spring 2015

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from

$330’s

+ GST

Located on Evanspark Blvd NW

Modus Booklet September 2014.indd 10

FOR INFO PRE-REGISTER TODAY jayman.com/rise

River Heights - Riversong, Cochrane

9/9/2014 10:23:06 AM

The name Modus stands for how we do things. In the past 30 years we have learned that to improve the quality of our customersâ&#x20AC;&#x2122; lives itâ&#x20AC;&#x2122;s important that we build around their lifestyles and not the other way around. This is how we do things. We are there for you through the entire process and have the experience and connections that no other multi family builder has. This ensures the smoothest transition possible during your home buying experience.

Itâ&#x20AC;&#x2122;s just what we do.

Modus Booklet September 2014.indd 11

9/9/2014 10:23:08 AM

Sales Centre Hours: Mon to Thu 2 - 8 pm S a t / S u n 12 - 5 p m

j ay m a n . c o m / m o d u s / j ay m a n m o d u s Jayman Modus Calgary is a Builder of Excellence for providing â&#x20AC;&#x153;An Outstanding Home Ownership Experienceâ&#x20AC;? for Multi-Family Homes in Alberta. Based on the J.D. Power and Associates 2013 Alberta Multi-Family New Home Builder Customer Satisfaction StudySM 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

Modus Booklet September 2014.indd 12

9/9/2014 10:23:10 AM

All renderings are an artistâ&#x20AC;&#x2122;s impression. All prices, size and specifications are subject to change without notice. E&O.E.

Live on an orchard in the middle of the city where a river runs through.

marKetInG

CALGARY

TORONTO

From the developer oF 6th and tenth

EDMONTON

OTTAWA 39

CALGARYISM

// BY CODY BATTERSHILL

Five reasons to love

MARDA LOOP

Cody Battershill is the founder of Calgaryism and a top producing realtor at Re/Max House of Real Estate. Born and raised in Calgary, Cody has a passion for helping his clients accomplish their real estate goals and loves to show off the best Calgary has to offer! He can be reached at 403.370.4180, on Twitter @Calgaryism and Calgaryism.ca

ave you heard of Marda Loop? You know, that area that everyone talks about from time to time. This vibrant and culturally rich area of southwest Calgary is definitely a place to be known, as it keeps many Calgarians coming back for more, again and again. More of what, you might ask? Here are five reasons to love Marda Loop:

1 WALKABLE One characteristic of

Marda Loop that everyone loves is its walkability, as you can easily park and walk to any destination in the area within a few minutes. That includes the beautiful Sandy Beach and Altadore Parks located along the embankments of the Elbow River. Walk along the streets of Marda Loop and you’ll notice they have a small-town feel. Around every corner are quality shops, restaurants and other businesses that, in some cases, are the best at what they do in the city.

2 EAT-ABLE Hungry people from all over Calgary make the trip to the top-notch restaurants located in Marda Loop. And it’s not only one, two or three of these establishments that have this effect, but several. Whether it’s Italian, Asian, contemporary or perhaps brunch on your mind, you’ll find it in Marda Loop. Here are my three favourites: Globefish Sushi: Sushi-lovers, this is one of the best Calgary sushi restaurants there is,and it's also the best Globefish in town by far. Some of my top choices include beef udon soup, the firecracker roll and edamame beans, although in my experience, anything you get will be scrumptious. San Remo Ristorante: When it comes to gourmet Italian cuisine, no one does it better in the neighbourhood than San Remo. I recommend the melt-in-your-mouth lamb shank – it is to die for! Nho Saigon: If you’re looking for a quick, healthy, affordable meal and like Vietnamese cuisine, then you’ll want to check out this restaurant. Nho Saigon has a very flavourful peanut pho sate soup if you like spicy! 3 SHOP-ABLE There are several “hidden gem” shops that offer a little bit of

something for everyone. You could easily spend a few hours or more going from shop to shop, finding unique goods you can’t find elsewhere. Some of my favourites include: Casablanca Video: Home to over 30,000 different movies and DVDs, you can rent, trade-in and even make special orders at this awesome media rental store. Monkey Shines: Your children will love the books from Monkey Shines because that is their speciality. Find a wide range of kids’ books that will open up the imaginations of your children in a positive and educational way. Vitamins First: You can never be too conscientious about what you put into your body. At Vitamins First, you’ll find everything you need to take nutrition in your life to the next level. While you’re at it, maybe stop in and get a massage too! 4 SOCIABLE Every year Marda Loop is host to various family events and functions

such as Christmas in the Loop. The area is a great place to have fun with your family, friends and associates, and you might even meet some new friendly faces while you’re at it! 5 LIVEABLE Marda Loop’s plethora of amenities, friendly faces, river access

and warming streetscapes all combine to make it a great place to live. Today, there are several opportunities for buyers to live in this very desirable area of southwest Calgary. Until next time, stay connected with the Calgary community and check us out at Calgaryism on Facebook, Instagram and Twitter. Hope to see you there!

40 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

9 ft ceilings & large windows

Bertazzoni Italian Gas Range

SOUTH OF THE BOW

Located steps away from Pearce Estate Park

Wide plank European white oak hardwood

Move in NOW! LOOK NO FURTHER THAN INGLEWOOD. SoBow is everything you’ve been looking for in an inner city community. We’re a Built Green concrete project featuring design-savvy interiors, large open floorplans, a 9000 sq. ft. gym and more. ™

Located in Inglewood, Calgary’s best kept secret, our backyard is 50 acres of parkland and pathways. Live well, live now, at SoBow.

STARTING AT: ONE BEDROOMS – $306K / TWO BEDROOMS – $367K / TOWNHOMES – $545K

SOBOWCONDOS.COM 41

CONDO SENSE

// BY CAMERON MCNEILL

and considerations TO TAKE THE Pros of joining your Condo LEAD, OR NOT? Corporation board

and how to better manage the budget to ensure the building is properly maintained for the long-term value of your home. What are the pros and cons of being a member of the Board? Have a look through a few of the benefits and key considerations listed below to help you decide if being on the Board is the right choice for you. PROS

Cameron McNeill is the owner of MAC Marketing Solutions, one of Alberta’s and B.C.’s leading real estate sales and marketing firms. Cameron also co-founded TAC Real Estate, a resale firm, and MPC Intelligence, a real estate market-research firm. Together with his experienced and dedicated team of sales, marketing and administration professionals, he has transacted more than 14,000 new homes and $5 billion in sales. Email him at cm@macmarketingsolutions.com or follow him on Twitter @mac_marketing

ast month I wrote about the benefits of condominium ownership and what your condo fees cover. My team and I were discussing this further, and someone asked, “What about joining the corporation board?” I realized with this question that some may not even know that the Condominium Corporation Board is the volunteer group of homeowners charged with managing the building and property management company. I also realized that I’m asked this question quite regularly. This is a tough question, because it really is a personal choice. However, being a member of the Board allows you, as an owner, to know what’s going on in your building, as if it were your own single-family home. You would know about the maintenance needs, costs

» Thorough knowledge of the building functioning and costs of maintenance in both the short- and long-term » Ability to have direct engagement in building issues, discussions and solutions » A ffords some control over the investment you have in your home/building allowing you to maintain the overall property value » Monitor if the property manager is doing an effective job within the budget » Increased pride in ownership of the building » An opportunity to get to know your neighbours better CONSIDERATIONS

» It takes time » Some neighbours feel you are available 100 per cent of the time and will try to address their “issue” at your front door or in the hallway or elevator » Dealing with uninformed residents Here are some questions you should ask yourself before you volunteer for your Board: » Do I have the time? » Being on the Board takes time for meetings and necessary tasks » Do want to join in order to push a personal agenda? » How proactive am I? While having a personal issue is not a bad reason to join the Board, it cannot be the driving reason behind your choice. In fact, if you do have a personal agenda, the Board may not be the best place for you, as this position requires a focus on the overall building and the needs of all residents. Joining the Board is about thinking ahead in the best interests of the building. It’s about looking forward and making those tough decisions on how money should be allocated, evenly and fairly, and in an appropriate manner. At the end of the day, I believe the key question you should ask yourself is, “Are my abilities going to help the Board, or hinder it?” You will be especially helpful if you can contribute core skills such as accounting, gardening, project management or construction. If you truly believe you are able to help the Board function more smoothly for the long-term benefit of the building, then you have your answer.

42 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

INNER CITY

“After living way out in the suburbs for over 20 years, we looked carefully and chose to buy at Bridgeland Crossings. We love the neighbourhood and our commute will be much shorter, only about 5 minutes to downtown. We can walk everywhere – including across the pedestrian bridge to East Village. It’s a whole new lifestyle for us.”

1st Ave. NE 9th St. NE

7A St. NE

PRESENTATION CENTRE

Memorial Dr. NE

Calgary Zoo

BRIDGELANDCROSSINGS.COM

1, 2 & 3 BEDROOM HOMES FROM $314,900 PRESENTATION CENTRE 824 1ST Avenue NE, Calgary Open Daily 12-6pm, Closed Fridays

403.269.2805

THE DEVELOPER RESERVES THE RIGHT TO CHANGE ANY INFORMATION CONTAINED HEREIN WITHOUT NOTICE. PRICING, SIZING, MATERIALS, AND SPECIFICATIONS ARE SUBJECT TO CHANGE. E.&O.E

NEIGHBOURHOOD PROFILE

BRIDGELAND:

An evolving, vibrant, walkable community // BY HEATHER RYAN

n inner-city community that is rich in history and located on the cusp of downtown, Bridgeland is one of the most walkable, vibrant and evolving communities in Calgary. “Bridgeland is among the most active redevelopment communities in the inner city and we’re really excited to be there,” says Chelsey McPhedran, development assistant at The Providence Group, which is crafting V & V, a contemporary condo project in the community. “It is very ethnic, eclectic, historic, and has a small-town feel that is unique, being so close to the downtown core.”

Offering a prime location to the north of the Bow River and Memorial Drive between Edmonton and Deerfoot Trail, Bridgeland was established in the early 1900s by many German, Italian, Ukrainian and other immigrants – a diversity that continues today. “It’s a great inner-city community that is revitalizing, especially with new businesses taking hold such as the Bridgeland Market, Lukes and Sisters, and must-eats like the Blue Star Diner, Main Dish and La Dolce Vita,” McPhedran says. Patricia Koyich has had a long-time presence in the community, after opening Il Sogno in August 2000. She chose Bridgeland for her restaurant “because I knew it would be great. There is a definite transition going on and it’s bigger than even I thought it would be, with new condos being developed, small restaurants popping up… “Bridgeland seems to be coming into its own as a really great community,” says Koyich, who also teaches dining room service and mixology at SAIT. “It’s eclectic, diverse and has a great vibe, and the cool part about the area is the walking traffic and cyclists – that really makes it vibrant.”

44 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

CONTINUED ON PAGE 46…

INNER CITY

NEIGHBOURHOOD PROFILE CONTINUED…

Bridgeland residents can walk, bike or take the nearby C-Train to downtown, or they can head to the community centre, the neighbourhood farmers’ market, local cafes, restaurants, boutique shops, services, parks and river valley pathways. “I grew up in a small town and Bridgeland reminds me of that atmosphere; it’s a safe, friendly, comfortable community yet it’s on the edge of downtown so you can enjoy the urban centre and all it has to offer,” McPhedran says. “It also has easy access to major traffic routes like the Deerfoot, Memorial Drive and 16th Avenue for getting out of town for your weekend adventure.” V & V is one of several new condo projects in Bridgeland. It consists of two, four-storey buildings offering one-, two- and three-bedroom floor plans on the corner of Edmonton Trail and 4th Avenue N.E. Another offering is Vericon Real Estate Ventures’ LiFTT (Live for Tomorrow Today), a four-storey, 39-suite condo at 730 5th St. N.E., which features one-, two- and three-bedroom designs and a treed location near Bridgeland Park. Vericon president Joe Fras says they chose to develop in Bridgeland “because it has a long-established history of being an older community that is centrally located and it has a nice feel with mature trees lining the streets and a mix of housing types, from single-family homes to new construction, infills and low-density apartment condos. “The proximity to the downtown core, the river and transit on Edmonton Trail, and having established amenities such as parks, pathways and schools, is attractive to a diverse group of buyers,” Fras says. 46

“There is a lot of excitement in Bridgeland in how the community is evolving,” he adds. “It’s a community in transition, so we’re seeing trendy new businesses moving in, giving it a younger, more ‘hipster’ feel.” David Magnan, sales director of Bridgeland Crossing, says there are a number of reasons why Bridgeland is so appealing, “but I’d say the top ones are the proximity to downtown, the green spaces, and the addition of so many great restaurants … my favourites are Burger 320 and Shiki Menya, both which opened in the last year.” Apex Cityhomes recently launched its second Bridgeland Crossings offering – a 143-suite, eight-storey building at the corner of Memorial Drive and 9th Street N.E. located beside McDougall Park and across from Murdoch Park. “I really like that there are lots of parks in Bridgeland and they’re quite large, plus residents have easy access to the river and soon to St. Patrick’s Island, which is a five- to seven-minute walk from here,” Magnan says, noting as an added benefit both the Calgary Zoo and Telus Sparks science centre are located in Bridgeland. “Bridgeland is really becoming energized,” he says. “On Saturday morning people are lined up at 1st Avenue restaurants for brunch and we’ve really seen more energy in the community in the last six to eight months. Because of that energy, I think we’re going to see things like the restaurants and farmers’ market grow every year.”

INNER CITY

newcondoguide.com | VOLUME 17 ISSUE 10 | NEW CONDO GUIDE 47

DESIGNER ADVICE

Choosing finishes & upgrades: WHERE DO I START? // BY YANIC SIMARD

UPON WALKING INTO THE FULLY

upgraded show suite in the design centre for your newly purchased condo, you’re faced with a number of decisions for materials, colours and upgrades. You immediately go for the hardwood, which is much pricier than the laminate; you’ve always wanted a spa tub, fully loaded with jets; and you love those stainless steel appliances. You stop 48 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

for a second and take a breath because all you can see are dollar signs. You have to ask yourself, “is it really going to make a difference when it’s all said and done?” The answer is “yes.” Not every upgrade is worth the money you’ll pay for it, however some upgrades from the standard finishings will make a huge impact when it comes to aesthetics, quality and resale value. Choosing your finishings should not be an overwhelming experience. Do your research before heading out to make your final selections, and you’ll be in good shape. CONTINUED ON PAGE 50…

PRESENTATION CENTRE: 1120 KENSINGTON ROAD NW

4 0 3 . 2 9 0 .1 6 6 4 b a t t i s t e l l a . c a / l i d o

DESIGNER ADVICE

CONTINUED…

1 | CHOOSING IN THE RIGHT ORDER

People often start by choosing a paint colour and then trying to match everything else to it. To me, that’s going backward. It’s much easier to choose your paint colour last, having it complement your other, more permanent selections, such as cabinetry. Finishings that are the least difficult to change should be chosen last. Start with the flooring and cabinetry. Designer tip In smaller spaces like condos, keeping the flooring consistent throughout the home will create a nicer visual flow and feeling of openness.

Next, choose the backsplash, countertop and cabinetry hardware. I wouldn’t suggest going with a bold and colourful pattern for the backsplash. Keep it simple and neutral. You can then add colour to your home with accessories and soft furnishings, like pillows and throws. I don’t advise experimenting with colour on finishings that are permanent. Your countertop and backsplash will be expensive to change if you don’t like the end result. The countertop and backsplash should coordinate with each other, and pick up colour tones from one another. As for the hardware, I like combining knobs and pulls – knobs for the doors and pulls for drawers, and you can never go wrong with a brushed-nickel finish. Lastly, choose your paint colour – something that matches nicely with the already-chosen finishes. Bring a selection of paint chips with you. Designer tip I’m known for using Benjamin Moore’s Classic Grey (OC-23) for the walls, trim and ceiling. I paint the walls and ceiling with a flat finish, and the trim in semi-gloss. 2 | THINK RESALE

Certain features sell better than others, which is very important to keep in mind when choosing upgrades. Stainless steel, granite countertops and hardwood flooring are all elements that buyers look for and are attracted to, and smart upgrades to invest in. Though you probably won’t be thinking “resale” at the time of purchase, it’s crucial to always keep it in the back of your mind. Remember that you want your choices to cater to a wide demographic of prospective purchasers down the road, so be sure that your selections will appeal to a broad range of tastes and style preferences. Rule of thumb Spend about five per cent of your

budget on upgrades, in order to maximize the return on your investment. 50 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

3 | PROFESSIONAL HELP

The benefits of using a reputable designer will pay off. Designers have an eye for colour and they know what works well in a particular space and what doesn’t. It’s a wise decision to employ a designer up front to avoid making mistakes that could end up costing you more money down the line, if you don’t like the finishes that you chose yourself. A good designer who is familiar with builders’ finishings will help you to mix and match the options and upgrades to achieve the ultimate look at the lowest cost. It’s all about knowing where to spend your money and how to match your various selections. SOME UPGRADES THAT PAY OFF

› Hardwood in lieu of carpeting › Kitchen backsplash › Countertop with undermount sink › Stainless steel appliances › Interior doors and door hardware

YANIC SIMARD is New Condo Guide’s design editor, principal designer of TIDG (tidg.ca), and regular guest expert on City’s Cityline. Check out Yanic’s accessory line, Yanic Simard Selected, at ysselected.com

INNER CITY

INVESTOR ADVICE

// BY ANDREW LA FLEUR

KEEP YOUR EYES ON THE PRIZE 1 | What are your goals? Before you buy any investment condo, you should figure out what your goals are. Are you looking to make a short- or long-term investment? What kind of return are you looking to achieve? Are you more interested in income or capital gain – or both? Deciding what your goals are up front will better help you achieve them in the long run.

Andrew la Fleur is an awardwinning realtor with expertise in the investment condo market. Visit TrueCondos.com/NewCondoGuide or contact Andrew by email at andrew@truecondos.com

o, you’ve decided to buy an investment condo. Congratulations! As a first-time investor, there are five questions you need to ask yourself before buying a new condo:

Are you looking to make a short- or longterm investment? What kind of return are you looking to achieve? Are you more interested in income or capital gain – or both? Deciding what your goals are up front will better help you achieve them in the long run.

2 | What can you afford? Talk to your mortgage broker or lender and get a mortgage pre-approval before you start your search. This will help you figure out what you can afford, and will help you start to narrow your search. Also, make sure you are prepared for the developer’s requirements with respect to financing. Most new condos will require a 15- to 20-per-cent deposit up front, as well as a mortgage approval letter showing you can afford the unit you are purchasing. 3 | What is your exit strategy? This is a very important question many first-time investors fail to answer before buying a new condo. Will you buy, hold and rent for the long term before selling? Will you buy pre-construction and then flip (assign) your unit prior to final closing? Will you buy pre-construction, close on the unit, rent it out for one or two years, and then sell it? Will you buy, wait for completion, and then refinance and re-invest the proceeds? Assess the risks and rewards associated with different exit strategies, and start with the end goal in mind. 4 | What should you buy? Buying a new condo for investment purposes is different than buying one to live in. Some units make better investments than others. Questions to consider include: • Which locations are likely to experience the most growth? • What type of unit is the most attractive to renters? • Which type of unit tends to appreciate faster than others? 5 | When should you buy? Understanding the typical marketing cycle that a new condo goes through, from pre-construction to completion, will help you identify the right time to buy. When buying for investment, it is generally best to buy at the earliest possible stage when a new building launches. This is when prices are the lowest, and availability of investor-grade suites is highest. But there are other great opportunities to buy, including right before the developer meets the sales target to secure construction financing, or during the occupancy stage. In both of these instances developers tend to be highly motivated to sell and this is when they often introduce great buyer-incentives or cash discounts.

52 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

INNER CITY

CALGARY PARKSIDE LIVING

2ND ST SW

ON CENTRAL MEMORIAL PARK

12TH AVE SW CENTRAL PARK

Another original development by This is not an offering for sale. E.&O.E. 53

FINANCES

HOUSEHOLD DEBT UP SIX PER CENT TO $76,140 More Canadians have a mortgage, fewer with credit card debt, student loans unchanged THE AVERAGE HOUSEHOLD DEBT IN CANADA HAS RISEN

with Alberta leading the way, According to BMO’s Annual Debt Report released recently. The report also details how the mix of debt – mortgages, credit cards and student loans – for households in the provinces has changed year over year. The report, conducted by Pollara, revealed that household debt has increased in each region across Canada, except for the Prairies and Ontario. Alberta remains the province with the highest household debt, $48,698 above the national average. Alberta and BC are above the national average, while the other provinces are below.

FROM $72,045 LAST YEAR TO $76,140 IN 2014,

AVERAGE HOUSEHOLD DEBT

National

ATL

MB/SK

2013 $72,045 $47,237 $56,860 $76,970 $82,100 $89,026 $79,089 2014 $76,140 $64,120 $59,805 $67,507 $68,437 $124,838 $99,834

Other noticeable regional differences include:

›› Albertans have nearly twice the average household debt than Ontarians ($124,838 versus $67,507, respectively). ›› Atlantic Canadians took on more than $16,000 of household debt this year compared to 2013. ›› British Columbians also took on more debt – $20,745 more this year than last. ›› Those in the Prairies reduced their debt by $13,000 from last year.

$ Alberta has the highest household debt, Quebec has the lowest $O ntario and Prairies have cut household debt from last year $M ore Canadians hold a mortgage, as Millennials are entering the housing market 54 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

Sal Guatieri, senior economist, BMO Capital Markets, notes that the booming economy of Alberta, particularly Calgary, has made the province an outlier compared to other regions. “Part of the reason household debt in Alberta is so much higher than in other provinces may be due to rapidly rising house prices, which have caused homebuyers to take on larger mortgages.” The BMO Debt Report also reveals the type of debt Canadians have in 2014 compared to last year:

›› Forty-three per cent of Canadians hold mortgage debt, an increase of 13 per cent year over year. ›› More than half of Canadians have a credit card balance, but the number of households has dropped from 56 per cent to 52 per cent this year. ›› Student loans have remained stable, with 15 per cent of Canadian households reporting this type of debt The rising share of households with a mortgage is partly driven by the active participation of first-time buyers, mainly young Canadians, Guatieri notes. T YPES OF DEBT

National

Credit Cards 52% Mortgages

ATL

MB/SK

60% 46% 54% 45% 50% 58%

43%

31% 46% 40% 38% 53% 44%

Student Loans 15%

20% 11% 19% 3% 17% 10%

“It is encouraging to see Canadians are paying down credit card debt, which costs more – especially compared to today’s low mortgage rates,” notes Tony Tintinalli, regional vice-president, BMO Bank of Montreal. Tintinalli encourages Canadians to speak with a financial planner to set realistic financial goals and a budget, and put a plan in place to pay down their debt aggressively, whether by opting for a shorter amortization for those with mortgages, or by choosing a credit card with a lower monthly interest rate.

CO N UN STR DE UC RW TI AY ON

LUXURY BEGINS AT THE DOOR

Begin your Avenue experience with a greeting from your concierge at the porte cochere – a five-star entryway that creates an unforgettable arrival for you and your guests. From there, the luxury continues within the grand reception with its soaring ceilings and statement chandelier, a finely appointed lounge, connecting sky bridges and state-of-the-art gym. At Avenue, you can leave to travel the world and then return to a secure home that offers the same sophisticated living experience as the boutique hotels abroad.

ELEGANT TWO-BEDROOM HOMES FROM $561,900.

PRESENTATION CENTRE: 1037 5th Avenue, SW, Calgary

10 ST SW

5th AVE SW

Saturday & Sunday: 12pm–5pm Monday–Thursday: 12pm–6pm Closed Fridays

403-530-8455

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

AVENUEWESTEND.COM newcondoguide.com | VOLUME 17 ISSUE 10 | NEW CONDO GUIDE 55

METIS TRAIL

NORTHEAST COMMUNITIES

52 STREET

CALGARY INTERNATIONAL AIRPORT

64 Ave

CENTRE STREET 12 AVENUE

Now Open Register: einsteincalgary.com

RIVE

36 STREET

17 Ave

52 STREET

BLACKFOOT TRAIL

ELBOW DR IVE

13 V&V BY PROVIDENCE GROUP

RIAL D

MEMO

02 4 3 PARK BY VERICON REAL ESTATE VENTURES

MacLEOD TRAIL

43park.ca

DEERF

52 STREET

BARLOW TRAIL

GLENMORE TRAIL

ANDERSON ROAD

114 AVE SE

OOT T RA

W BO

NEW BRIGHTON

AIL

D TR

VITT

McKE

LEO

Mac

S JAME

IL TRA

EK P ARK

TTO BO

CRE

SHAWNESSY BLVD.

Coming Soon www.arrivehome.ca

16 AVENUE

SOUTHLAND DRIVE

FISH

07 A RRIVE AT SKYVIEW RANCH ARBOURS BY PARTNERS DEVELOPMENT GROUP

17 Ave

GLENMORE RESERVOIR

104 Redstone View (off Redstone Way)

64 Ave

32 Ave

03 04 MEMO 02 01 RIAL D RIVE

Coming Soon bridgelandcrossings.com

06 A RRIVE AT REDSTONE BY PARTNERS DEVELOPMENT GROUP

80 Ave

MCKNIGHT BLVD.

16 AVENUE

01 B RIDGELAND CROSSINGS BY APEX CITY HOMES

Sales Centre 921 - 1st Ave. NE www.stepsbridgeland.com

84 STREET

14 STREET

04 S TEPS BRIDGELAND BY GIUSTINI BRIDGES IN.

68 STREET

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

Sales Centre #701, 7th Ave. NE livelifft.com

SADDLETREE DR.

FA L RID CON GE

NOSE HILL PARK

EDMONTON TRAIL

SH AG AN

TR A

128 NE Ave

COUNTRY HILLS BLVD.

FO OT TR AIL

VD. LS BL

Y HIL UNTR

03 L iFFT BY VERICON REAL ESTATE VENTURES

STONEY TRAIL 06 07

MARQ

CHAPARRAL CRANSTON

56 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

AIL

NE TR

LOR IS OF

COPPERFIELD

ABURN BAY

ARRIVE AHEAD Take pride in owning an Arrive townhome because it’s built environmentally responsible – and love it because it can save you money. Our multi-family units feature spacious floor plans with 2 to 4 bedrooms, 2.5 baths, and an essential heated attached garage, with full depth driveway.

GRAND OPENING OCTOBER 4TH! VISIT 2 NEW SHOW HOME MODELS DEE R TRAFOOT IL

REDSTONE STREET

STONEY TRAIL

REDSTONE DRIVE

REDSTONE WAY

NEW COMMUNITY COMING SOON!

METIS TRAIL

128 AVE

COUNTRY HILLS BLVD

AT SKYVIEW RANCH ARBOURS

SHOWHOME HOURS MON TO THURS 2PM TO 8PM FRI TO SUN 12PM TO 5PM SHOWHOME ADDRESS 104 REDSTONE VIEW NE (OFF REDSTONE WAY)

403 264 8963

A R R I V E H O M E .C A

CALGARY’S SATELLITE COMMUNITIES 22

AIRDRIE 04

COCHRANE 01

10 12

24 Sunset Rd. Cochrane, Alberta

20 S UNSET BY JAYMAN INNOVATIONS

AIRDRIE

09 C REEKSIDE VILLAGE BY CARLISLE GROUP

8th & MacKenzie Way Airdrie, Alberta

10 S TONEKEEP AT KING’S STRATHMORE HEIGHTS TOWNHOMES BY MERGE 1DEVELOPMENTS

CALGARY

CHESTERMERE

797 LANGDON

22X

1225 King’s Heights Way SE Airdrie, Alberta

11 T HE EDGE BY STREETSIDE DEVELOPMENTS

604 East Lake Blvd N.E. Airdrie, Alberta

12 R AVENSWOOD TOWNHOMES BY SLOKKER CANADA WEST BLACK DIAMOND

22X

2802 Kings Heights Gate

13 B ROOKSIDE AT BAYSPRINGS BY MERGE DEVELOPMENTS

OKOTOKS

546

TURNER VALLEY

543

Coming Soon to Yankee Valley Blvd. and 24th St. SW BrooksideAtBaysprings.com

15 C HESTERMERE TOWNHOMES BY SLOKKER CANADA WEST

22 HIGH RIVER

COCHRANE 01 T OWNHOMES AT JUMPING POUND RIDGE BY SLOKKER CANADA WEST

Sales Centre on George Fox Trail just past Jumping Pound Terrace www.slokker-west.ca

02 H EARTLAND TOWNHOMES BY EXCEL HOMES 1178 Clydesdale Way, Cochrane, Alberta

#300 Marina Drive, Chestemere

03 C ONCEPT BY JAYMAN MODUS

06 T HE VILLAGE BY CALBRIDGE HOMES

04 S UNSET RIDGE STREET TOWNS BY HOMES BY AVI

07 R IVERREACH VILLAS & MANORS BY JAYMAN MASTERBUILT

201 Sunset Drive, Cochrane, Alberta

36 Sun Valley Road Cochrane, Alberta

05 S TONE CREEK LANDING BY CARLISLE GROUP 103 - 5th Avenue, West, Cochrane, Alberta

3102-15 Sunset Square Cochrane, Alberta

17 Z EN OKOTOKS BY AVALON LETHBRIDGE MASTERBUILDER

www.zeninbalance.com

13 Riviera Way Cochrane, Alberta

08 T HE RANGE BY BIRCHWOOD PROPERTIES CORP. 101 Heartland Avenue Cochrane, Alberta

newcondoguide.com | VOLUME 17 ISSUE 10 | NEW CONDO GUIDE 59

CONDO PROFILE

CALBRIDGE

launching new townhome project in Fireside, Cochrane // BY HEATHER RYAN

new townhome project that offers both a great lifestyle and location is being launched by Calbridge in Fireside, Cochrane. “Calbridge is dedicated to the community vision for Fireside. We offer single-family homes, side-by-side homes and villas, so we’re pleased to add another product to the mix with townhomes in Vantage Fireside,” says David MacKenzie, vice-president and general manager of Calbridge. “Our team is very excited about the grand opening of our presentation centre on Sept. 20, which will showcase both the project, community and included features,” he says. Sales will also launch that day; people can register up until then on the website, at vantagefireside.com.

Vantage Fireside presents buyers with 147 townhomes boasting attached double garages in both two- and three-bedroom layouts with 2.5 bathrooms. The townhomes offer three different floor plans ranging from approximately 1,100 to 1,400 sq. ft. The typical plan is a three-bedroom design with master bedroom and ensuite, two secondary bedrooms, a full bathroom, and laundry on the upper floor. A Great Room, kitchen with island, dining area, and half-bath are on the main floor,

These townhomes offer spacious, bright, open plans with impressive features like wide plank hard-surface floors, stainless steel appliances, and a covered deck off the kitchen for year-round barbecuing with a den (optional), garage and storage area at ground level. These townhomes offer spacious, bright, open plans with impressive features like wide plank hard-surface floors, stainless steel appliances, and a covered deck off the kitchen for year-round barbecuing. Starting at $279,900 including GST, the townhomes â&#x20AC;&#x153;offer a great value and opportunity for first-time buyers who may have been priced out of the market in Calgary, and for downsizers or empty-nesters

who desire the features of a single-family home without the maintenance,â&#x20AC;? MacKenzie says. Vantage Fireside sits on 8.5 acres and will back onto wetland and pathways. A new retail plaza is located just across the street and will include a Tim Hortons. For more information, visit the presentation centre located at 3 Fireside Gate, open Monday to Thursday from 2 to 8 p.m.; and weekends and holidays from noon to 5 p.m. Call 587.362.4036 or visit online at vantagefireside.com. Buyers can also take advantage of the pre-construction pricing by simply putting $1,000 down to secure their Vantage home! newcondoguide.com | VOLUME 17 ISSUE 10 | NEW CONDO GUIDE 61

MORTGAGE ADVICE

// BY ALYSSA RICHARD

AT MORTGAGE RENEWAL TIME

Why you should shop around

I Alyssa Richard is the founder and CEO of ratehub.ca, a mortgage rate comparison site that aims to empower Canadians to make smart financial decisions.

f you purchased a home in 2009, your mortgage is likely going to come up for renewal soon. If he hasn’t already done so, your lender will start popping early renewal notices into your mailbox – usually within the last 30 to 120 days of your current mortgage term. And while the renewal slip makes the process all too easy (you just sign the offer and send it back), it’s not in your best interest to accept this offer. For starters, the lender who had the best mortgage rate for you before is almost never the same lender who will have the best mortgage rate for you at renewal time. It’s sad – if you’re someone who stays loyal to lenders, that is – but true. On those mortgage renewal slips you find in your mailbox, lenders offer an average of only 0.25 per cent off their posted rate – that’s nothing, in comparison to the rates you can find online or from mortgage brokers across Canada. Unfortunately, lenders market their renewals as being easy and convenient, which is something most consumers are attracted to. But how much would it hurt to later find out you could’ve gotten a full one per cent or more off your rate, if you’d taken the time to shop around and negotiate?

The lender who had the best mortgage rate for you before is almost never the same lender who will have the best mortgage rate for you at renewal time. It’s sad – if you’re someone who stays loyal to lenders, that is – but true. Besides just the mortgage rate, it’s also unlikely that your current lender will be the one to offer you the best mortgage product for your needs at renewal time. Think about it this way: your financial goals from when you took on your current mortgage term were likely much different than what they are today, right? You could be at a completely different stage in your life now. Well, the same can be said for your lender. It’s convenient to stay with your current lender, but the terms and conditions your existing lender offers may no longer suit your needs. Consider all your mortgage needs – the rate and prepayment options – and go with the lender who can offer everything you’re looking for. One thing to keep in mind: if you don’t renew your mortgage with a new lender before the date your current mortgage term expires, your lender will automatically renew you for another term with them. A week isn’t enough time for most mortgage brokers to switch your mortgage from one provider to the next, so start shopping around early and make sure you find the best mortgage rate and terms for you. 62 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

G IC IN U C TI O

LIFESTYLE AND

EC O

ST R

VALUE WITHOUT

BOUNDARIES STARTING AT

$279,900

INCL

GST

OWN YOUR

VANTAGE TOWNHOME FOR AS LITTLE AS

$1000 DOWN Ask sales representative for details.

GRAND OPENING

SATURDAY SEPTEMBER 20 VANTAGE TOWNHOMES IN COCHRANE

3 FIRESIDE GATE, COCHRANE, AB Y2 HW

TO HIGHWAY 1A

TO TRANS CANADA HIGHWAY 1

T OY WB CO

FIRES

limits. The superior design of Vantage Fireside townhomes

FIRESIDE BLVD

TE E GA

Life shouldn’t be about

can accommodate every part of your lifestyle. And starting at $279,900 with as little as $1,000 down means home ownership is a reality.

FIND OUT MORE AT VANTAGEFIRESIDE.COM OR CALL (587) 362-4036 newcondoguide.com | VOLUME 17 ISSUE 10 | NEW CONDO GUIDE 63

Now you can view all New Condo Guide magazines online using any smartphone, tablet or desktop device.

VIEW OUR MAGAZINES ON ANY

DIGITAL DEVICE anytime, anywhere! Published by

NEWCONDOGUIDE.COM

ONLY

Stunning H omes

AVAILAB LE

NORTHRIDGE DR

CALGARY

OKOTOK S SHEEP RIVER

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CHBA - Calgary Region

Celebrating 2011 25 Years

2012

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NORTHWEST COMMUNITIES CENTRE STREET 16

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CENTRE STREET

AIL ENU

NOSE HILL PARK

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IL N

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AG AN SH

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Y TR

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DIN GTO N

881 Sage Valley Boulevard www.sonomasagehill.com

BED

18 S ONOMA AT SAGE HILL BY VERTICAL PROPERTIES

01 . BLVD

LS Y HIL UNTR

HN CR LA O UR 14 WC IE HI BLV LD D. TR AIL

17 B ROWNSTONES BY GENESIS BUILDERS GROUP

STONEY TRAIL NW

16 Sage Meadows Circle NW

NA PI

R. LD HIL

E STON

5353 Crowchild Trail NW

EDMONTON TRAIL

STONEY TRAIL NW

HE GROVES OF VARSITY 15 T BY STATESMAN HOMES

HA RV BLVEST H D N ILLS E

COUNTRY HILLS BLVD.

PANORAMA ROAD NW.

10 18 17 03 SY MO NS VA LLE 06 YR D. 04

85 ST. NW

ROCKY RIDGE BLVD.

144 AVE NW.

14 U NIVERSITY CITY BY KNIGHTBRIDGE

SOUTHLAND DRIVE ANDERSON ROAD

DEERF

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LE Mac

S JAME

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EK P ARK

M TTO BO

FISH

RAIL

IS OF

U MARQ

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newcondoguide.com | VOLUME 17 ISSUE 10 | NEW CONDO GUIDE 67

NORTHWEST

V is for

´ Vive I’independance! The freedom to be yourself. To do your thing. Your way. The charm of modern urban living with a farmer’s market at your doorstep. Total independence from renting and paying someone else’s mortgage. Limited Time Introductory Pricing! From the low

All Units Include Standard Features That Aren’t Typically Standard:

200

’s

• • • • • •

*Plus GST. Renderings are artist’s concept only and may be subject to change. Pricing subject to change without notice. E.&.O.E.

Stainless Steel Appliances Granite Countertops Parking Included Laminate Flooring In-Slab Heating 9’ Ceilings

BY TRICO COMMUNITIES

BUILDING 2 JUS T REL EA S ED !

Visit our sales centre at 3503 Sage Hill Drive NW or viridiancondos.ca

DATE: 02 Sept 2014 Produced by

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F I L E

N A M E S

A R E

F O R

I N T E R N A L

U S E

O N LY

File Name VIR-12299 Condo Guide Sept18 v1.indd Publication Condo Guide Insertion September 18, 2014 Client Trico Homes Size 6.75”The x 4.625” Villas at Watermark is in its Final Phase. Fonts used Helvetica Neue LT, Rockwell, Times The limited collection of homes remaining in Picture info Calgary’s fastest-selling community are situated Producer NS Revision # just 20 minutes from downtown. You’ll love the spacious walkout floorplans, exceptional views Reference #

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NEW CONDO GUIDE Client: MacDonald Development Project: Villas at Watermark

68 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

MARKETPLACE

COPPER VS GOLD Decorating is all about choices! We show you how to instantly update your space with key pieces that suit your preferred style. // BY SARA DUCK

1. Penelope Table. $229. VISIT CRATEANDBARREL.COM

1. Atelier - Eclectic Metal Side Table. $200. VISIT BOUCLAIR.COM

2. Flatware. $30. VISIT CB2.COM

2. Gold Flatware Set. $39 for five-piece set. VISIT WESTELM.COM

3. Copper Moscow Mule Mug. $20 for two. VISIT HOMESENSE.CA

3. Gold Dust Can Cup by Donna Karan. $40. VISIT THEBAY.COM

4. Perforated Metal Industrial Pendant Shade. $39. VISIT WESTELM.COM

4. Atelier - Ceiling Lamp. $200. VISIT BOUCLAIR.COM

5. Faux Fur Pillow Cover. $147. VISIT WILLIAMS-SONOMA.COM

5. Gold Fleur Pillow. $80. VISIT CHAPTERS.INDIGO.CA

6. Jeffan Dorset Round Mirror. $175. VISIT WAYFAIR.COM

6. Kichler Nogaro Mirror. $278. VISIT WAYFAIR.COM

newcondoguide.com | VOLUME 17 ISSUE 10 | NEW CONDO GUIDE 69

HOMEBUYERSâ&#x20AC;&#x2122; HELP

CONDO HUNTERâ&#x20AC;&#x2122;S CHECKLIST

When shopping for your dream condo, carry this list with you and take notes to help you remember what you saw, and where! CONDO #1

CONDO #2

CONDO #3

CONDO #4

Project & address:

Salesperson:

Phone:

Developer/builder:

Type:

midrise highrise

townhome conversion

midrise highrise

townhome conversion

midrise highrise

townhome conversion

midrise highrise

townhome conversion

Sq. ft.:

# of bedrooms:

# of bathrooms:

Interior appliances:

Options:

Parking facilities:

Special incentives:

Price:

Down payment:

Condo fees:

Financing available:

Other comments:

70 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

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 mortgage C payment calculation chart

HOMEBUYERS’ HELP

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

CALCULATE YOUR MORTGAGE PAYMENTS

AMORTIZATION PERIODS

% 5 YEARS

10 YEARS

15 YEARS

20 YEARS

25 YEARS

3.00 17.96 9.65 6.91 5.54 4.73

MONTHLY PRE-TAX INCOME

SPOUSE’S PRE-TAX INCOME

TOTAL PRE-TAX INCOME

DIVIDE BY THREE

AFFORDABLE MONTHLY PAYMENTS DIVIDED BY 12

AMOUNT OF MORTGAGE (PRICE-DOWN PAYMENT)

CHART FIGURE

AMOUNT OF MORTGAGE DIVIDED BY 1,000

AMORTIZATION AMOUNT

ESTIMATED MONTHLY TAXES AND HEAT

MONTHLY PAYMENTS

3.25 18.07 9.76 7.02 5.66 4.86 3.50 18.18 9.88 7.14 5.79 4.99 3.75 18.29 9.99 7.26 5.91 5.13 4.00

18.40 10.41 7.38 6.04 5.26

4.25

18.51 10.23 7.50 6.17 5.40

4.50

18.62 10.34 7.63 6.30 5.53

4.75

18.72 10.46 7.75 6.44 5.67

5.00

18.85 10.59 7.89 6.58 5.82

5.25

18.97 10.71 8.01 6.71 5.96

5.50

19.08 10.83 8.14 6.85 6.11

5.75

19.19 10.95 8.27 6.99 6.26

6.00

19.30 11.07 8.40 7.13 6.40

6.25

19.42 11.19 8.54 7.27 6.55

6.50

19.53 11.32 8.67 7.41 6.70

6.75

19.64 11.44 8.80 7.55 6.86

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

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

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

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

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

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

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

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

72 NEW CONDO GUIDE | VOLUME 17 ISSUE 10 | newcondoguide.com

COMPARE MORTGAGE RATES FOR YOUR BEST DEAL 2 YEARS

3 YEARS

4 YEARS

5 YEARS

ATB Financial

VARIABLE

2.700

6 MONTHS

4.000

1 YEAR

2.940

2.890

2.990

3.040

3.290

Bank of Montreal (BMO)

3.000

4.000

3.140

3.040

3.850

4.390

4.990

Bank of Nova Scotia

3.100

4.550

3.290

3.140

3.440

3.940

4.790

Bridgewater Bank

4.800

4.700

5.250

CIBC Mortgages

3.000

4.450

2.990

2.940

3.650

4.240

4.990

Canadian Western Bank

3.200

4.000

3.140

3.040

3.750

4.390

4.990

Canadian Western Trust

3.200

4.000

3.140

3.040

3.750

4.390

4.990

First Calgary Financial

4.000

2.890

3.190

3.390

3.290

First National Financial

2.450

3.950

2.990

2.590

2.690

2.770

3.090

Home Trust Company

2.500

3.950

2.890

2.790

2.940

2.990

ICICI Bank Canada

3.050

3.150

3.650

3.640

3.690

3.890

Investors Group Trust

3.000

4.200

3.140

3.750

4.640

4.990

London Life

3.000

4.200

3.140

3.750

4.640

4.990

Manulife Bank

2.700

4.450

3.000

3.050

3.100

3.140

3.190

Manulife Trust

4.450

3.000

3.050

3.100

3.140

3.190

Meridian Credit Union

2.750

4.000

3.090

3.140

3.650

2.950

3.190

National Bank

3.000

4.400

3.140

3.040

3.750

4.390

4.790

Peace Hills Trust

4.500

3.150

3.500

3.950

3.490

President’s Choice Fin’l

3.000

6.190

3.190

2.940

3.590

4.040

4.440

Royal Bank of Canada

3.000

3.140

3.040

3.750

4.540

4.940

Servus Credit Union

4.000

3.140

3.040

3.750

4.240

4.790

T-D Mortgage

3.000

4.000

3.090

3.040

3.440

3.940

4.790

Tangerine

3.000 -

3.190 3.240 3.490 3.690 3.790

Rates are 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 17 ISSUE 10 | NEW CONDO GUIDE 73

INDEX OF ADVERTISERS