Calgary New Condo Guide - December 14, 2012

[4 Week Issue] Dec 14, 2012 - Jan 11, 2013 Volume 15 Issue 13

inside this issue

001-CCG_Cvr_Dec 14.indd 1

PAYING FOR THE PERKS OF CONDO LIVING

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table of contents

December 14, 2012 to January 11, 2013 volume 15 issue 13

09

arrive

@ SKYVIEW RANCH Built-Green, energysaving townhomes

columns, news & features 008 editor’s note Columnists

014 the homebuying process Making the move in time for the holidays by donna moore

021 quick tips Tips for a “stress-free” holiday season by hellen buttigieg

022 contemplating condominiums A look into Reserve Funds by linda palfi

044 scrumpdillyicious Molten Chocolate Lava Cake: the chocolate-lover’s dessert by leslie styles

046 money matters Holiday shopping – without the financial hangover by gail vaz-oxlade

in the news

016 industry updates - chba New legislation requires mandatory new home warranties

020 fundraising The women at Jayman give it their all for Movember

024 finances A bit of planning can reduce your tax liability this year

048 condo poll Canadians don’t mind paying for the perks of condo living

028 condo profile Stellar location draws buyers to the Groves of Varsity

052 housing market “Moderation” is the key word for Canadian housing markets in 2013 features

032 style file Hanging light fixtures: what height is right? by yanic simard

040 designer touch Decorating for the holidays goes beyond dressing the tree by erica gelman

Homebuyers’ Help

009 cover story ARRIVE at Skyview Ranch: townhomes in Calgary’s new north

BY HEATHER RYAN

BY heather ryan

034 moving Changing your address? Plan ahead for a smooth move 050 make your move How to properly pack seasonal decorations by dan hopkins

053 Homebuyers’ Help Condo Buyers’ Resource Section 057 INDEX Project Location Maps

012 Northeast Map 019 Southeast Map 025 Satellite Communities 027 Northwest Map 037 Southwest Map 043 Inner City

28 Vice-President, Wall2Wall Media

Jacqueline Hill Editor-In-Chief

Susan Legge Editor

Janine Druery Lydia McNutt (on leave) Art Director

Daiana Garay Design Editor

Yanic Simard Media Consultant

Natalie Houghton 587.226.1313 Contributing Editors

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

Bala Gnanapandithan

32

Production Co-ordinator

Greg Van Sluytman Graphic Designer

Viosa Barileva National Account Manager, Mediative

50

Paul Slizys Published By

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

Copyright 2012 Copyright covers the contents of this publication and prevents reproduction in whole or in part; offenders will be prosecuted. We reserve the right to refuse any advertising, to make changes or edit advertising as necessary. Care will be taken to ensure copy accuracy but no warranty is implied or given by the publisher.

The publication, the publisher and the printers shall not be responsible for any typographical errors, mistakes, misprints, spot colouring or any information or lack of information furnished by the advertisers.

tax

he

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

Advertising rates

ad for

62 40

T 587.226.1313 email natalie.houghton@wall2wallmedia.com Circulation Copyright covers the contents of this

publication and prevents reproduction in whole or in part; offenders will be prosecuted. We reserve the right to refuse any advertising, to make changes or edit advertising as necessary. Care will be taken to ensure copy accuracy but no warranty is implied or given by the publisher.

The publication, the publisher and the printers shall not be responsible for any typographical errors, mistakes, misprints, spot colouring or any information or lack of information furnished by the advertisers.

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

The views and data expressed by columnists do not necessarily represent those of the publication.

The homeTRADER & Design are trademarks of Apax Partners LLP, used under license.

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

EDITOR’S NOTE

A long-term commitment will afford you

PEACE OF MIND

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

Whether you’re relocating from one coast to the other or moving to your first place, changing homes can be hectic, exciting and certainly stressful. But, relax. You can eliminate the anxiety associated with moving by taking control of the situation with confidence.

Understanding the market is just part of the story. Knowing what you need and what you can afford is the more important part of the equation. Making a prudent purchasing decision that doesn’t keep you up at night when interest

rise or market news becomes the talk of the town is up to you.

Any expert will tell you that buying a home or condo is a long-term commitment. This issue is full of great tips from the experts as well as the latest news designed to help you make a wise purchasing decision.

Along with our Condo Profiles, which outline the specifics on many fine communities, there’s lots to take in – so kick back, relax and enjoy.

You’re in the driver’s seat.

CONDO FEES:

Get what you pay for

JANINE DRUERY

EDITOR

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

Fancy a workout in your condo’s gym? Maybe a swim? Well, why not? After all, you’re paying for it – through your condo fees.

Condo fees are what each owner is required to pay monthly, in addition to their mortgage payments. They differ from condo to condo, from place to place – and they are not up for discussion.

While the fees will vary according to building, they will likely cost you several hundred dollars per month for a typical unit.

Some of these costs include: building insurance; utilities like electricity, heat and hydro; building property taxes; cleaning services and garbage pick-up; landscaping and snow removal; security and

08 NEW CONDO GUIDE | VOLUME 15 ISSUE 13 | www.homeTRADER.ca

concierge; pool/gym maintenance; and parking.

For some people, the idea of having security, parking and snow removal are some of the great things about living in a condo. For others, those incentives aren’t important.

If you want a condo with all of the bells and whistles, you are looking at higher fees; if you want to keep the fees low, you should consider buildings without all the facilities. Because, let’s face it, if the building has the amenities, you will pay for them month after month after month – even if you never dip your toe in the Olympicsized pool.

cover story

Empty-nesters fall in love with

ARRIVE at SkyView Ranch

// STORY AND Photography By Heather Ryan

Kathy and Bill Hannah loved their

fully-developed 2,400-sq.ft., bi-level in Panorama Hills, but with their two oldest children married with kids and homes of their own, and their youngest daughter off to university in B.C., they realized their home was too large for just the two of them.

“With the kids gone it was just Bill and I, and I only went downstairs to do the laundry,” Kathy says. “It seemed silly to have a home where half the space was wasted.”

As well, some health issues were making it difficult to shovel snow and do gardening , so they agreed it was time look at condo living where they could enjoy a maintenance-free lifestyle.

“We started looking at apartment condos, but we felt they were too confining,” she says, so they turned to townhomes “We’ve built four homes in the last 25 years all in north Calgary so we knew we wanted to stay in the area and we looked at several townhome developments.” www.hometrader.ca | Volume 15 issue 13 | NEW Condo Guide 09

What they saw when they visited ARRIVE at SkyView Ranch really appealed to them. “We were probably here at least a half a dozen times or more watching the construction to see how the townhomes were being built before we decided to buy,” Kathy says.

“When we walked around the first time and saw they were using spray foam insulation in the garage it really blew me away,” Bill says. “I felt that if the builder was willing to go that extra step and not be over-priced then this was a good choice.”

The Hannahs say they were also impressed with other energy-efficient items the builder, Partners Development Group, included in the homes as

“ The energy efficiency is important to us and it’s what really attracted us here more than anywhere else,” Kathy says.

10 NEW Condo Guide | Volume 15 issue 13 | www.hometrader.ca

standard specs. ARRIVE offers buyers energy-efficient and waterconscious homes with a minimum Gold rating from BuiltGreen Canada and an EnerGuide rating between 80 and 83. Every home has water-saver faucets, dual-flush toilets, low-E windows, a high-efficiency water heater and furnace, spray foam insulation and a heat recovery ventilation system. For additional cost-savings, the Hannahs upgraded further by adding a tankless water heater.

“The energy efficiency is important to us and it’s what really attracted us here more than anywhere else,” Kathy says. “A lot of those things we paid substantial money for in the past to have added, so to have them included as standard specifications is amazing.”

The Hannahs just received an energy report and rating from Enervision on their home and received a platinum rating from BuiltGreen Canada and a New Home EnerGuide Rating of 82.

The standard features, finishing and quality of the construction also appealed to the Hannahs, who appreciate having the nine-ft. ceilings, laminate flooring, a fireplace with built-in media cabinet in the living room, large kitchen island and vaulted ceilings in the dual-master floorplan they selected.

Kathy also likes that each master bedroom has its own ensuite because it gives their 19-year-old daughter privacy when she’s visiting from school.

“We also made some changes to make the home more our own. We put in a desk off the kitchen instead of a walk-in pantry, stained the fireplace mantle to match our cabinetry and we upgraded the appliances,” Kathy says, including adding an induction stove for increased energy efficiency.

They also decided to develop the flex space off the garage entry that Kathy plans to use for a hobby/craft/ sewing room, and are having the cabinet makers craft a built-in pantry and hutch around the dining area window to match the cabinets in the kitchen for added storage.

The Hannahs sold their home in February and rented a place for seven months while waiting for their townhome to be built. “We moved in on October 19 and we love it,” Kathy says. “When we moved in and set up our furniture we said ‘we’re home,’ and we hope to be here for many years.

“It’s a relaxing area, we’re away from everything but close to major routes like Metis and Stoney trails, and we’re just minutes from CrossIron Mills mall,” she says.

“We’re also near the entrance to the community so it’s a quick in and out and we can walk across the road to neighbourhood conveniences,” such as the Mac’s store, a local pub, liquor store and more.

Being owners of two small dogs they say they don’t miss the backyard; they actually enjoy getting out more for walks with the dogs. “Unlike Panorama Hills it’s nice and flat here in SkyView Ranch so it’s easy to walk and we have pathways and green space right behind us. We also walk the dogs around the development so we’re getting to know our neighbours; there’s a great mix of people here of all ages.”

To learn more about Partners Development Group’s ARRIVE at SkyView Ranch, visit the showhome at 102 SkyView Ranch Rd. N.E. during winter hours, Monday to Thursday, 4-8 p.m., weekends, noon-5 p.m., call 403-264-8963 or visit arrivehome.ca.

www.hometrader.ca | Volume 15 issue 13 | NEW Condo Guide 11

METIS TRAIL

northeast communities 05

04 Galleries Renfrew

by ASSURED HOMES

SADDLETREE DR.

52 STREET

DE

TR A PI

03 i ndigo sky at saddleridge by carlisle group

68 Street NE & 80 Avenue NE

NA

1116 Renfrew Drive NE

03 80 Ave

05 Coventry Station

by HUNTER RESIDENTIAL DEVELOPMENTS

10

CALGARY INTERNATIONAL AIRPORT

64 Ave

CENTRE STREET

12 AVENUE

32 Ave

07 a rrive @ SKYVIEW RANCH

By PARTNERS DEVELOPMENT Group Skyview Ranch Rd & Skyview Ranch Dr

RIVE

08 h ighland park By stonecroft

RIAL D

MEMO

36 STREET

4303 - 1st Street NE

10 i ndigo sky at tara lake By carlisle group

17 Ave

Sales Suite 68 Street & 80 Avenue NE

11 KINTALLA

By STREETSIDE DEVELOPEMENTS

MacLEOD TRAIL

52 STREET

BLACKFOOT TRAIL

17 Ave

IVE

6 Saddlelake Place NE

16 AVENUE

RIVE

ELBOW DR

06 Saffron

By Genesis Builder’s Group

04

01 MEMO 02 R IAL D 09

150 Redstone Grove NE www.kintalla.com

ANDERSON ROAD

DEERF

52 STREET

BARLOW TRAIL

GLENMORE TRAIL

SOUTHLAND DRIVE

114 AVE SE

OOT T RA

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NEW BRIGHTON

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13007 Coventry Hills Way NE www.coventrystation.ca

68 STREET

14 STREET

16 AVENUE

FISH

06

MCKNIGHT BLVD.

08

GLENMORE RESERVOIR

64 Ave

84 STREET

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

FA L RID CON GE

NOSE HILL PARK

EDMONTON TRAIL

SH AG AN

921 - 1st Ave N.E.

07

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11

COUNTRY HILLS BLVD.

FO OT TR AIL

VD. LS BL

02 n ext by bucci developments

STONEY TRAIL

13007 Coventry Hills Way NE CHAPARRAL

ABURN Two Bedroom, Two Bathroom Townhomes over 1150BAY sq. ft.

CRANSTON From the low $200s Located in the established community of Coventry Hills

www.CoventryStation.ca 12 NEW Condo Guide | Volume 15 issue 13 | www.hometrader.ca

587-896-6107

the homebuying process

Making the move

Donna Moore is Executive Officer, Calgary Region Home Builders’ Association 403.235.1911 | crhba.com

C

algarians who bought their new home earlier this year will likely be anxiously waiting for the finishing touches to be complete so they can move in for Christmas.

Planning a move at Christmas is one of the most difficult times of year, because not only do you have the festive season to prepare for, there is the added pressure of unpacking and ensuring the home is ready for you and your family.

And a move during the holidays can be especially confusing for young children, who worry about whether Santa can find their new address or if he can fit down the chimney (if you even have one). So you’ll need to take the time to tell them that all will be well. Keep up traditions such as putting out milk and cookies for that jolly old elf to reassure them.

Once you’ve gone through the final inspection with your builder and have taken possession of the keys, the race to get into your new home begins. At this time of year when you’re already facing the chaos of Christmas, it’s often best to get professional movers to help you rather than tackling the job yourself or

// by Donna Moore

in time for Christmas enlisting the help of friends and family – who are also likely facing their own festive pressures. You can even hire the pros to help with the packing and unpacking chores to lessen your load.

When you’re packing at your old place, it’s a good idea to make sure your Christmas decorations are packed together and clearly marked so they are easily accessible when you get to your new home. This way you might not have time to unpack everything before the big day, but at least the new place will be decorated with festive cheer.

If this is your first home and you don’t have decorations, or can’t locate the old ones, don’t fret. It doesn’t take a lot to make the home look festive by hanging a wreath on the front door and putting up a tree – even if it’s a small one. Several stores sell trees that are already decorated or at least have lights and they’ll do in a pinch – next year you can get a real tree or a bigger artificial one that better suits your family’s traditions.

There’s also a lot to be said for buying all new decorations – it’s a new home so why not go with a new look.

Adding a few festive scent candles, hanging up the stockings and playing some Christmas music are a few easy ways to make the new abode seem more festive and comfortable.

Entertaining during the holiday season with stacks of boxes still to unpack may be daunting, but it also doesn’t have to be elaborate. Have some egg nog or other festive cheer on hand, serve a simple tray of cheese and crackers and/or veggies and dip and you have the makings of a party that will toast a new home and a new year.

It’s also easy to agonize over cooking the traditional Christmas meal when your dishes still need unpacking and you can’t find your favourite roasting pan. Rather than stress over how you’re going to get it done, consider ordering in a festive meal or having take out. You can still make the table festive with candles and a colourful paper tablecloth and napkins – remember it’s the people you’re with that make the day special, not what’s for dinner. Alternatively, you can ask another relative to host the Christmas dinner – that would take all the pressure off trying to put something together.

Moving in at Christmas time also gives you a chance to start some new traditions and celebrate a new beginning in your new home. Take the time to record the event so you have lasting memories of your new home – one that you and your family will enjoy for years to come. Merry Christmas!

14 NEW Condo Guide | Volume 15 issue 13 | www.hometrader.ca

www.homeTRADER.ca | VOLUME 15 ISSUE 13 | NEW CONDO GUIDE 15

industry updates - chba

New home warranty // by Jim Rivait, CEO Canadian Home Builders’ Association – Alberta New home warranties have been in the news

this fall because the Alberta government is taking steps to ensure all buyers are protected when they take the big step of purchasing a new home.

Legislation to require mandatory new home warranties was introduced in the Alberta Legislature on Oct. 25 by Municipal Affairs Minister Doug Griffiths.

“While most homes in Alberta are built to stand the test of time, if things go wrong, homeowners will have stronger protection to get their homes repaired,” says Minister of Municipal Affairs Doug Griffiths. “Albertans should be reassured that the single largest purchase their family makes will be protected by one of the strongest warranty programs in the country.”

Under the proposed legislation, all new homes – including condominiums – would be covered for one year on labour and materials, two years for defects related to delivery and distribution systems, five years of building envelope protection with the option to purchase additional years of coverage, and 10 years of warranty protection for major structural components.

The estimated cost of a warranty for an average house would be $1,700 to $2,000, or less than one per cent of the price. The provincial government plans to have the system in place by next fall.

Even though it will take some time to get all of the details ironed out and the legislation put into force, the good news for consumers is that members of the Canadian Home Builders’ Association – Alberta have offered their customers warranty protection for decades.

Alberta builders led the nation in 1974 by introducing the New Home Certification Program of Alberta, now the Alberta New Home Warranty Program. Other warranty providers also offer coverage in Alberta, including Blanket

16 NEW Condo Guide | Volume 15 issue 13 | www.hometrader.ca

Home Warranty, National Home Warranty Group and Progressive New Home Warranty.

A report prepared for the Canadian Home Warranty Council in 2010 stated that more than 125,000 Alberta homes constructed by 650 builders were covered under warranties. The Alberta government estimates that about 80 per cent new homes built now have a warranty.

That still leaves a substantial number of homebuyers without warranty protection. Consumers should consider whether they are comfortable spending hundreds of thousands of dollars without the kind of coverage they would insist on receiving when buying a new car or even a smartphone.

People planning to build their own home would not be required to obtain warranty protection under the proposed Alberta legislation. But there is a catch. If they decide to sell their house they will be required to arrange coverage for the remaining balance of the warranty period. Adding warranty protection after a home is built and occupied would be difficult because the warranty provider would not have worked with the builder during construction to ensure standards are met.

CHBA-Alberta members must demonstrate knowledge, commitment and discipline to be approved by the Alberta New Home Warranty Program and an annual review includes checks on customer satisfaction.

Mediation, conciliation and arbitration services are available to solve any dispute that may arise.

Warranty providers also help buyers keep their home in tip-top shape for years to come by offering comprehensive guides on how to maintain the many materials and systems used in construction – from the basement to the roof, plus everything in between.

Of course warranty protection is a backstop in cases where an issue cannot be resolved through discussions between the buyer and builder. CHBA – Alberta members have years of experience both building new homes and ensuring their customers are happy with their purchase. In the period until all builders are required to meet the same standards of warranty protection, buyers should ensure they understand what coverage they will enjoy after they take possession of their new home.

Happy Holidays!

The end of a year brings reflection on the past, and the arrival of a new year brings dreams and opportunities. We thank you, our readers, for your continued support as we strive to bring you the best that the industry has to offer. We thank you, our advertising customers, for your patronage and continued loyalty to the magazine.

Best wishes in your home hunt!

From all of us here at

www.hometrader.ca | Volume 15 issue 13 | NEW Condo Guide 17

SOUTHEAST

18

FA L RID CON GE

64 Ave

MCKNIGHT BLVD.

EDMONTON TRAIL

14 STREET

CENTRE STREET

INTERNATIONAL AIRPORT

16 AVENUE 12 AVENUE

68 STREET

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

32 Ave

16 AVENUE

SOUTHEAST COMMUNITIES RIVE RIAL D

MEMO

RIAL D RIVE

36 STREET

MEMO

17 Ave

09 MONARCH

BY COVE PROPERTIES

52 STREET

ELBOW DRI VE

BLACKFOOT TRAIL

17 Ave

316 McKenzie Towne Gate SE

10 MCKENZIE TOWNE ELGIN

BY BROOKFIELD HOMES

MacLEOD TRAIL

585 McKenzie Town Drive SE

GLENMORE TRAIL

ANDERSON ROAD

DEERF

07

16

AIL

TR

Mac

14 BOULEVARD TOWNES

BY BIRCHWOOD

11 05 02 18

116 Quarry Park Way SE

COPPERFIELD

15 EDISON COMING SOON

BY AVI URBAN

F LO UIS O

D TR

MARQ

AIL

VITT

McKE

06 08 RAIL 09 10 RNE T

LEO

S JAME

SHAWNESSY BLVD.

206 Cranford Drive SE

NEW BRIGHTON

M

EK P ARK

290 Chaparral Valley Drive SE

13 MOSAIC CRANSTON

BY BROOKFIELD HOMES

OOT T RAIL

TTO BO

CRE

12 INNOVATIONS

BY JAYMAN CHAPARRAL VALLEY

114 AVE SE

W BO

FISH

1797 Copperfield Blvd SE

84 STREET

14

52 STREET

19

SOUTHLAND DRIVE

BARLOW TRAIL

GLENMORE RESERVOIR

11 CHALETS IN COPPERFIELD

BY SABAL HOMES

CHAPARRAL CRANSTON

01 12 15 02

13

20 21

aviurban.com

16 YORK 29

BY TRICO HOMES

ABURN BAY

03 04

120 New Brighton Landing SE

17 MOSAIC MIRAGE

BY BROOKFIELD HOMES

13

McKenzie Towne-Coming Soon

18 AURA OF COPPERFIELD

BY ALDEBARAN HOMES 279 Copperfield Common

01 RIVERSIDE TOWNHOMES IN CHAPARRAL VALLEY

BY CARDEL LIFESTYLES

05 MINT

BY JAYMAN MODUS

02 COPPERFIELD PARK

BY BRAD REMINGTON HOMES

06 ZEN

BY AVALON MASTER BUILDER

03 AUBURN BAY

BY BROOKFIELD HOMES

07 PRESTWICK PLACE

BY CARDEL LIFESTYLES

121 Chaparral Valley Drive SE

279 Copperpond Common S.E.

174 Auburn Bay Blvd SE

04 MOSAIC LAKESIDE AUBURN BAY

BY BROOKFIELD HOMES 27 Auburn Bay Link SE

19 CHAMPAGNE

BY REMINGTON DEVELOPMENTCORPORATION

130 New Brighton Way SE thatsmint.ca/live

Quarry Park Blvd SE remingtoncorp.com

3510 McKenzie Town Gate SE

20 CRANSTON PLACE CONDOS

BY CARDEL LIFESTYLES 302 Cranston Road SE

115 Prestwick Villas SE

21 CRANSTON PLACE TOWNHOMES

BY CARDEL LIFESTYLES

08 MOSAIC MOTIF IN NEW BRIGHTON

BY BROOKFIELD HOMES

302 Cranston Road SE

317 New Brighton Villas SE

COPPERFIELD PARK LOVE IT. LIVE IT. AFFORD IT.

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

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www.copperfieldpark.com 403.723.0094 www.homeTRADER.ca | VOLUME 15 ISSUE 13 | NEW CONDO GUIDE 19

fundraising

The women at Jayman give it their all for Movember

The women from Jayman Modus decided to pitch in and do

their part for the “Movember” campaign, to raise awareness and money to support prostate cancer research and other men’s health initiatives. Some of the men at Jayman were already participating in the fundraiser and had named themselves the “Jayman Mo-Bros”. The women came up with the name Jayman Mo(dus) Sistas. The five of them agreed to wear a full moustache all day every Friday.

As a team, the women of Mo(dus) managed to raise over $767 and, together with Jayman Mo-Bros, raised $14,055, ranking them in The women from the 105th spot nationally.

Jayman Modus “The ‘staches were really itchy and we couldn’t laugh too decided to pitch in and hard as they would sometimes fall off,” says Sandi Serr, Project do their part for the Marketing Specialist for Jayman Modus.

As a team, the women of Mo(dus) managed to raise over “Movember” campaign, $767 and, together with Jayman Mo-Bros, raised $14,055, them in the 105 spot nationally. to raise awareness and ranking While raising money for important causes like Movember money to support is part of the corporate culture at Jayman, it can also come with a hint of Candid Camera, too. prostate cancer “Well, I was about to walk into the ladies room one Friday and our President, Laurie, just happened to be coming out at research and other the same time. She looked up at me and she screamed! I guess men’s health initiatives. I caught her off guard,” says Sandi. th

›› For more information about the Movember movement, visit http://ca.movember.com ›› For more information about Jayman, visit jayman.com 20 NEW Condo Guide | Volume 15 issue 13 | www.hometrader.ca

quick tips

// by hellen buttigieg

Replace holiday stress with

holiday joy » Under-decorate If you find it overwhelming to decorate every room of your

Hellen Buttigieg, CPO, is a Certified Professional Organizer, life coach, TV host and owner of We Organize U. Visit her website, WeOrganizeU.com, for a free e-Book on how to find more time, energy and inner peace.

Contact Hellen at 905.829.2219 or info@WeOrganizeU.com

H

oliday season strikes fear in the hearts of many. Instead of visions of sugar plums we get visions of mad mall dashes, credit card bills and lots of cleaning to do.

Put years past behind you and make a few simple changes. These tips will help replace the holiday stress with holiday joy. » Avoid gifts that clutter Give gifts that can be consumed rather than those that take up space.

Consider giving candles, gourmet food baskets, vintage wines, fresh floral arrangements, jams and jellies, etc. Gift certificates are also appreciated by those who want to streamline their homes. » Clear away the ‘every day’

For more impact and less clutter, remove your every day decorative items from tabletops and mantles before you display your holiday decorations.

You can store them temporarily in the boxes that held your decorations.

home for the holidays, consider a new approach. Decorate the one or two rooms you’ll use the most over the season and see how you feel. Chances are you and your family won’t miss the extra knick-knacks and you may even enjoy the holidays more because you’ll be less stressed. » Help for the host Hosting a holiday soirée this year? Don’t be a superhero – accept help. Make it a potluck. People enjoy contributing and it makes the meal more interesting. While you’re at it, consider putting your kids to work during the event or hiring students to help out. They can take coats as guests arrive, freshen up the appetizer plates and load the dishwasher. They’ll be learning valuable skills and perhaps making some extra money and you’ll be a more relaxed and joyful host! » Avoid mall madness Do you get stressed when shopping for gifts at the mall this time of year? Do the long lineups and limited parking dampen your holiday spirit? If you hurry, there’s still time to shop online and have your items delivered in time. Many retailers offer free shipping or other incentives this time of year. Another option is to hire a personal shopper. Some major department stores actually offer this service at no cost, so ask. » Make it meaningful Connect to what the holidays are really all about – spending time and making special memories with the people you love. Make time for doing fun things together, like baking cookies, going downtown to see the holiday lights and festive store windows, renting a favourite family movie or going skating at the local rink. An effective way to make time for these activities is to let go of the need to create the perfect home, buy the perfect gifts, and cook the perfect holiday meal. » Be an early bird Wrap and ship your holiday gifts to out-of-town friends/ family early to avoid rush postage costs and long lineups at the post office. » Track your spending Consider paying by debit instead of credit when shopping for gifts to avoid the shock of your credit card statement in January.

Another option is to put all your purchases on one credit card and only use that card for gift-buying; with most cards you can track your spending by viewing the balance online. » Guilt-free Holidays Take a day to catch up on unfinished business like filing, returning calls, etc. Most of these ‘loose ends’ take only a few minutes, but are put off because they don’t seem urgent. However, you still worry about getting them done, and it takes up space in your brain. Eliminate these energy leaks and you will be free to enjoy your holidays. Hire help if you need to. » Pick a calendar that works Invest time in choosing the right calendar system for you. Are you a visual person who prefers a paper-based planner or a digital person who relates to an app or a computer program? Do you like a large desk blotter-type calendar or does a pocket-sized appointment book make more sense? Making the best decision for you now will pay off many times over the new year. www.hometrader.ca | Volume 15 issue 13 | NEW Condo Guide 21

CONTEMPLATING CONDOMINIUMS

// Linda Palfi

A look into

reserve funds 3 A list of capital work that has been done in advance of when the study

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

projected it would be done.

As we know, reserve-needs studies are required under Alberta law to be updated every fifth year. Although that’s not a long time, by the third or fourth year some substantial and expensive projects might have been performed by a diligent condominium Board. Like a balance sheet, then, the money moves from the cash side to the “accomplished” side of the sheet. The corporation’s not short of cash at all; it has simply been converted to tangible assets in the form of a new roof on the building(s) or new heating boilers in the basement.

To address this information shortfall, I recommend that condo corporations compile and update a “statement of completed capital work.”

This sheet can be distributed annually with the report of reserve-fund spending, and can be issued to prospective buyers, so they see that the “missing” money has been well spent, and that the building is well maintained. When the Reserve Fund Study is updated after five years, of

I

n reviewing condominium documents prior to a condo home purchase, some buyers jump to negative conclusions when they see that the Reserve Fund bank balance is less than an engineer recommended. But credit might not have been given for capital works that have been done in advance of what was recommended in the engineered Reserve Fund study.

To see the complete picture you need three pieces of information.

These are: 1 The amount in the Reserve Fund today; 2 The amount the Reserve Fund Study recommended be on hand today; and 22 NEW Condo Guide | Volume 15 issue 13 | www.hometrader.ca

course, the engineer will roll the information into the new report. The new spreadsheet will project the life of the new components, and project the years or decades until that expense will arise once more.

My caution to shoppers for resale condos is to not jump to negative conclusions based on an incomplete look at the condominium documents. There is no simple dollar number that should be in a Reserve Fund account, because a building might be brand new with virtually no immediate need for reserve funds.

It could also be an older building that just spent much of the reserve cash to renew all mechanical systems. These are both likely excellent buildings, but will at first glance have little money in the bank. See the complete picture by looking at the projected cash needs, the actual cash on hand, plus the work that’s recently been accomplished.

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There is no simple dollar number that should be in a Reserve Fund account, because a building might be brand new with virtually no immediate need for reserve funds.

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28-11-12 09:57 www.homeTRADER.ca | VOLUME 15 ISSUE 13 | NEW CONDO GUIDE 23

finances

End-of-the-year

tax tips Nobody likes to pay too much tax, but a bit of

planning can reduce your tax liability.

“It’s not too late to change what will go on your 2012 tax return when this season rolls around,” says Gary Dent of the accounting firm Grant Thornton.

Dent recommends talking to your accountant about these last-minute tax planning tips:

›› If you have a capital gain in 2012 (or in any of the last three years), talk to your accountant about selling investments with accrued losses before the end of the year. If your spouse has realized a capital gain and you have an unrealized loss (or vice-versa), there are ways to transfer the loss to the spouse with the gain. ›› Since most mutual funds distribute income and capital gains once a year around mid-December, deferring the purchase until January will mean that you won’t have to report any income for 2012. If you’re planning to sell, consider doing it before the distribution date so instead of reporting an income allocation, you’ll realize a capital gain or loss.

24 NEW Condo Guide | Volume 15 issue 13 | www.hometrader.ca

›› Make certain payments before the end of the year to realize tax savings: some medical expenses; fitness costs and registration fees for artistic, cultural, recreational or development activities for your children under 16 (under 18 for disabled children); public transit costs; investment costs (safety deposit box rental, interest and brokers’ fees); moving costs; tuition fees and interest on student loans; and charitable and political donations. ›› With current interest rates at very low levels, you might want to consider loaning funds to a spouse or common-law partner who is in a lower marginal tax bracket than yourself. Your spouse can invest the loan proceeds and include any income/capital gains as their own, provided you are paid interest on the loan at the prescribed rate in effect at the time the loan is made.

Work with a tax planning professional to understand the rules. ›› Most people must make their 2012 RRSP contribution by March 1, 2013, but you can delay your RRSP contribution if you expect to be in a higher tax bracket in the near future, or you can make the contribution but delay claiming the amount. ›› You may also be able to make contributions to a Registered Education Savings Plan, Registered Disability Savings Plan and a Tax-Free Savings Account. There is no tax on the income earned in an RESP or RDSP until the amounts are withdrawn, and any income earned in a TFSA is never taxed.

You can start to collect CPP benefits beginning as early as age 60 and as late as age 70, but you no longer have to be retired to begin receiving payments. If you are between 60 and 65 years of age and have not yet retired, you need to decide if you want to start collecting benefits. ›› The government imposes a “clawback” on your Old Age Security payments if your net income for 2012 exceeds $69,562. If you have the ability to manage the amount of income you receive in a year, keep this threshold in mind. ›› In general, charitable donations over $200 result in tax savings at the highest marginal tax rate.

While these tips aren’t a substitute for the recommendations of your tax adviser, and individual circumstances vary, the ideas can help begin the conversation with your accountant. More information and guidance is available online at grantthornton.ca. NC

CALGARY’S SATELLITE COMMUNITIES 22

AIRDRIE

03

02

302 Sunset Pointe Cochrane, Alberta

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BY CALBRIDGE HOMES 05 STONE CREEK LANDING

BY CARLISLE GROUP

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103 - 5th Avenue, West, Cochrane, Alberta

05

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1

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CHESTERMERE

797 LANGDON

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22X

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604 East Lake Blvd N.E. Airdrie, Alberta

2A

12 RAVENSWOOD TOWNHOMES

BY SLOKKER CANADA WEST

22

2802 Kings Heights Gate COMING SOON

HIGH RIVER

COCHRANE 01 RIVERSTONE AT COCHRANE

BY SLOKKER CANADA WEST INC. 240 Riverview Drive in Cochrane

8th & MacKenzie Way Airdrie, Alberta

11 THE EDGE

BY STREETSIDE DEVELOPMENTS

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BY CARLISLE GROUP

#4 Kingsland Close N.E. Airdrie, Alberta

OKOTOKS

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10 COURTYARDS OF KINGS HEIGHTS

BY MERGE DEVELOPMENTS

2

BLACK DIAMOND

Cochrane, Alberta

02 HEARTLAND TOWNHOMES

BY EXCEL HOMES 1178 Clydesdale Way, Cochrane, Alberta

03 CONCEPT

BY JAYMAN MODUS 201 Sunset Drive, Cochrane, Alberta

15 CHESTERMERE TOWNHOMES LETHBRIDGE

BY SLOKKER CANADA WEST

#300 Marina Drive, Chestemere

16 PENNCROSS

BY STREETSIDE DEVELOPMENTS

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

www.homeTRADER.ca | VOLUME 15 ISSUE 13 | NEW CONDO GUIDE 25

northWEST

VOTElDgary

a C t s e B munity com

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CALGARY INTERNATIONAL AIRPORT

10th Street & 3rd Avenue NW

13 SAGESTONE

BY GREENVIEW DEVELOPMENTS AveUNIVERSITY CITY 32 14

BY KNIGHTBRIDGE BRENTWOOD LRT

universitycity.ca 16 AVENUE

15 THE GROVES OF VARSITY

BY STATESMAN HOMES

5353 Crowchild Trail NW E R IVCOVENTRY STATION D16

ME M O R I AL

36 STREET

SARCEE TRAIL

11 PIXEL

BY BATTISTELLA

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16 AVENUE

17 Ave

37 STREET

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500 Rocky Vista Gardens N.W.

05 ENCORE AT KINCORA

BY CARLISLE GROUP

03 RED HAUS

BY STREETSIDE

18 SONOMA AT SAGE HILL

BY VERTICAL PROPERTIES 881 Sage Valley Boulevard www.sonomasagehill.com

BARLOW TRAIL

GLENMORE RESERVOIR

13001 Coventry Hills Way www.coventrystation.ca

16 Sage Meadows Circle NW

37th Street and Kincora Glen Road N.W.

118 - 30 Royal Oak Plaza N.W.

BY HUNTER RESIDENTIAL DEVELOPMENTS

17 BROWNSTONES

BY GENESIS BUILDERS GROUP

MacLEOD TRAIL

69 STREET

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www.homeTRADER.ca | VOLUME 15 ISSUE 13 | NEW CONDO GUIDE 27

condo profile

Stellar location lures buyers to

Groves of Varsity // By Heather Ryan

o

ffering one of the most desirable locations in Calgary, spacious suites and quality craftsmanship it’s not surprising that discerning buyers are setting their sights on the Groves of Varsity.

Crafted by Statesman Group of Companies, the Groves of Varsity is its own community at the corner of 53 Street N.W. and Varsity Drive across from the Dalhousie LRT and Dalhousie Station shopping centre.

28 NEW Condo Guide | Volume 15 issue 13 | www.hometrader.ca

“Location is the number one reason why buyers walk through our sales centre door,” says Stateman’s Mike Sali. “It’s that saying ‘Location, Location, Location’ – and Varsity has been voted the best Calgary community to live for two years running in Avenue magazine because the amenities here are amazing.

“ We’ve actually taken Statesman’s top selling floorplans over the past 10 years and put them in the Groves so people are really getting the best of the best,” Sali says.

“You have the university, Market Mall, Foothills and the Alberta Children’s hospitals, the LRT, shops and services, Silver Springs Golf Course and we are centred between Beaumont and Nose Hill parks,” he says. “You really have almost everything you desire in close proximity, as well as the ease of getting downtown.”

With the Groves, residents of Varsity are getting everything they wanted – a low density development, solid concrete and steel construction, and a development that caters to every demographic mirroring the people who live in the community.

“Our first phase of 119 suites is nearly sold out, with our youngest buyer in their early 20s and the oldest in their 70s, so we’re attracting a wide range of homeowners not just due to the nearby amenities but because we aren’t another starter project,” Sali says. “A lot of people are attracted to the Groves because of the large suites and higher standard specifications.”

In the Groves of Varsity Phase 2, an eight-storey, 80-suite building, buyers will love the spacious onebedrooms with dens and two-bedrooms that range from 750 up to 1,700 sq. ft. with prices starting in the $290s and going up to $650,000 for penthouses.

“We’ve actually taken Statesman’s top selling floorplans over the past 10 years and put them in the Groves so people are really getting the best of the best,” Sali says.

Along with inviting open concept designs, buyers will enjoy terrific interior features such as nine-ft. ceilings (10-ft. in penthouse suites), tile floors, granite counters with under-mount sinks in the kitchen, stainless steel appliances, maple cabinets, full-height tile

backsplash, in-suite laundry and most master bedrooms come with big soaker tubs and separate showers in the ensuite.

Rather than having standard balconies, buyers can opt to enclose them in floor-to-ceiling glass to create a solarium, adding 100 sq. ft. of more usable space to their suite. The solariums also come with Juliet balconies allowing fresh air into the suite.

There are no designated colour schemes; instead buyers can truly personalize their suites by choosing their own colours and finishings through Statesman’s design centre.

Some other tremendous features in the Groves of Varsity include a forced air heating and air conditioning system, no shared walls between suites (reducing the noise factor), low-E dual-pane windows and underground secured parking.

This second building will also be home to a fabulous ninth-floor health club and fitness centre featuring the latest equipment, a resistance pool, floor-to-ceiling windows and a rooftop patio so you can enjoy the fabulous views and the mountains.

Outside, the buildings will feature low-maintenance xeriscape landscaping and an inviting courtyard with a 16-ft. tall fire sculpture as its centrepiece, along with pergolas and benches encouraging residents to get out and enjoy the outdoors and socialize.

To learn more about the Groves of Varsity, visit the sales centre open Tuesday, 2-6 p.m., Wednesday and Thursday, noon-6 p.m., and Fridays and weekends, noon-5 p.m. (closed Mondays), call 403-286-8143 or visit grovesofvarsity.com. www.hometrader.ca | Volume 15 issue 13 | NEW Condo Guide 29

marke t mar t s with

Jim Malner

It is never a “bad” time to buy real estate.

Some times are just better than others as some opportunities are better than others. If you are looking for your first home then certainly “the earliest date possible” is the right time to buy. The reason is real estate creates wealth and therefore is beloved by those seeking financial security.

While economic windfalls or turmoil may swirl around you, owning a home is the most predictable path to increasing wealth through “equity creation” and “capital appreciation” due to economic growth and inflation.

Over time, it’s difficult to lose on real estate purchased for your residential use. The forced savings effect of standard mortgages and 200+ years of economic data show that owning your home is still the best investment you can make in yourself and your future. While economic windfalls or turmoil may swirl around you, owning a home is the most predictable path to increasing wealth through “equity creation” and “capital appreciation” due to economic growth and inflation.

As we approach the end of 2012, assuming that Mayan calendar fiasco doesn’t unfold as predicted, it’s time to look into the crystal ball and see what 2013 holds for new homes in the Alberta market and more specifically the major cities. Perhaps a place to start is with the news of the day which drives public opinion and therefore buyer behavior.

Currently, there’s a lot of negative news in national media about the integrity of home and condo prices and some pretty “dark” commentary on price corrections (collapses) that may occur due to high household debt, a possible second recession due to the mess in Europe, The US fiscal cliff, the impact of a global slowdown on commodity prices and now, more Arab – Israeli conflict. Wow, with all that going on maybe those Mayans were onto something with just blowing the whole thing up and starting over. While these events will shape a great deal of economic reality in 2013 and provide some headwinds for Alberta’s economy, forecasts are for a real estate market only slightly slower than 2012.

For 2012 most metrics that determine the health of the new home sector outperformed forecasts.

According to CMHC, Alberta will see an increase in housing starts of about 23% over 2011 to a very 30 NEW CONDO GUIDE | VOLUME 15 ISSUE 13 | www.homeTRADER.ca

Time To Look Into The Crystal Ball - 2013

robust 31,800. For 2013 activity levels are expected to level, increasing just 1.2% to 32,200.

Single family starts are projected to rise in 2012 by 15% to 17,600 units over 2011. 2013 sees these values move up a further 5% to 18,400 units with an increased bias toward move up housing and modest price growth. Multi-family starts have increased a staggering 35% in 2012 to 14,200 units. This rate of growth will slow in 2013 to 13,800 units while inventory gets absorbed.

What’s most important if you’re looking to purchase in 2013 is that balanced market conditions are expected, which means only modest price increases of about 2%. What makes this even more compelling is the affordability of housing in Alberta. It’s in harmony with historical norms at approximately 30% of average household income. When this is compared with Toronto at 53% and Vancouver at almost 70%, housing in Alberta, be it Edmonton or even the slightly higher priced Calgary, looks like a steal.

So 2013 still appears to be a great time to buy, all things considered.

What will you buy? Well, that depends on you and your situation. There are excellent opportunities in Alberta’s multi-family market as an abundance of inventory has to find buyers. The Royal Bank has pegged Alberta as the #1 performing economy in Canada for 2013 and still with some of the most affordable housing. So, the sooner you buy, the sooner you get the time value of money and equity growth working for you. As history has shown, that’s the most predictable way to a better financial future – and let’s hope the Mayans were wrong on the time and date when making a smart real estate decision simply doesn’t matter.

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

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

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31

STYLE FILE

WHAT HEIGHT IS RIGHT? // BY YANIC SIMARD

PENDANT FIXTURES ARE AN ALL-TIME favourite because they can be installed in any room of the home. They can be casual or formal – dressed up or dressed down. The challenge most people face is deciding at what height to hang them.

furniture underneath to help judge the distance. A general rule of thumb to follow is to hang it at least eight feet above the floor. If you have doors that swing out toward the fi xture, make sure you take note of them so you leave the appropriate spacing for this also.

Here are some tips to help guide you:

STAIRCASE

HALLWAY/ENTRY Especially in your entry, your pendant

light should make some sort of statement since not much is going on in this area of the home. This can be one of the most difficult places determine how high to hang the light since there probably isn’t a piece of

32 NEW CONDO GUIDE | VOLUME 15 ISSUE 13 | www.homeTRADER.ca

If you’re looking to add drama and interest to your staircase, hanging a light fi xture is the perfect way to do just that. Having plenty of clearance for walking up the stairs is ultimately all that needs to be considered when installing a pendant here.

OVER A TABLE 28-32 inches above the

table top is where this light fixture will usually hang, though it can be hung lower or higher, it’s more of a personal preference. Keep in mind for conversation, and for serving and passing food, you don’t want it to hang right in your face while seated.

Consider mounting two or three pendants above the table for added light and visual appeal.

ABOVE THE KITCHEN ISLAND

Weather it’s an area for cooking or an area for sitting and watching someone cook, kitchen pendant lights are normally hung 28-35 inches over the island. It really depends on the function of the island, how the area will be used most often and what you’re comfortable with. Again, hanging two or three pendants in a row can look quite beautiful.

BATHROOM Instead of traditional

sconces, hanging two pendants on either side of a mirror looks stunning. Choosing a fixture with clear glass will offer more light which is good for makeup and getting ready, while a diff used shade offers a more ambient feel. The middle of the light component of the pendant should hang at where the middle of the mirror is placed, close enough to the wall so no one will bump into it, but not touching the wall itself. If you’re just hanging one in the centre of the room, you again want to make sure it clears the door.

it’s well lit but not over-bright. I would suggest having this light installed on a dimmer switch so that you have the luxury of setting your own tone of brightness.

ABOVE THE BED A pendant light hung above the bed can serve as a lovely focal point for any bedroom. Fixtures here are usually hung rather high so that you don’t end up hitting it in the middle of the night tossing and turning or when you jump out of bed because you’re late for work. Also keep in mind the sight line – if you have a television on the wall in front of your bed, you’ll want to hang it high enough so it doesn’t obstruct your view.

ON EITHER SIDE OF THE BED In place of table lamps, I love the idea of hanging a pendant above each side table. Just like in the bathroom, you want it to be hung close enough to the wall so you don’t hit it, but not so it’s actually touching the wall. I would leave about 12-20 inches above the bottom of the side table so that you have room for accessories and books.

SIDE NOTES

› Rules are meant to be broken – common sense sometimes over powers any guidelines, so feel free to follow your gut instinct when hanging your pendant light! › It’s a smart idea to consult your certified electrician before hanging any light fixture. There are codes and standards that are required to be met for safety reasons.

MIDDLE OF THE LIVING ROOM With

furniture underneath the pendant, such as a sofa or coffee table, don’t be afraid to hang your light fairly low. Usually the light will be hung over a seating area, which usually an area for conversation, as a spot for reading, watching television or resting – so you want to make sure

YANIC SIMARD is the principal designer of the Toronto Interior Design Group.

Specializing in residential and commercial projects, Simard often applies his signature high/low and old/new combination design techniques in developing unique designs. Simard has created designs for clients in Toronto, Montreal and Miami, and has appeared as a regular guest expert on Citytv’s CityLine. For more information visit tidg.ca. www.homeTRADER.ca | VOLUME 15 ISSUE 13 | NEW CONDO GUIDE 33

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now under construction Visit the Brownstones Sales Centre at 16 Sage Meadows Circle NW Phone: 403.455.2280 Email: info@thebrownstones.ca

moving Plan ahead to make your move as smooth as possible,

and to avoid forgetting something in the shuffle!

As soon as possible… notify family and friends, companies and institutions that your address will be changing, either by phone or by mailing the change-ofaddress cards available at your local post office.

The following checklisT will serve as a convenienT reminder:

Changing your address?

34 NEW CONDO GUIDE | VOLUME 15 ISSUE 13 | www.homeTRADER.ca

» » » » » » » » » »

Accountant Alumni Association Attorney Banks Lending Institutions Insurance Companies Investment Companies Revenue Canada Stockbroker Credit Cards

» » » » » » »

Driver’s License Employer Family Doctor Dentist Veterinarian Frequent Flyer Program Magazine / Newspaper Subscriptions » Catalog Merchants » Place of Worship

www.hometrader.ca | Volume 15 issue 13 | NEW Condo Guide 35

HOmeS frOm StateSman.

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The Landings is all about modern living - beautiful views over The Bow River Valley, high end finishing’s and maintenance free 2 & 3 bedroom Luxury Villas and Vistas built to the unrivalled high standard you’ve come to expect from Statesman.

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Visit Our Sales Center: 771 Patrick Street SW, Calgary, AB T3H 4B9

36 NEW CONDO GUIDE | VOLUME 15 ISSUE 13 | www.homeTRADER.ca

SHOW HOme nOW OPen

Developing Calgary for over 36 years

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04 Sanderson Ridge

by Medican

2330 Fish Creek Blvd S.W.

06 Sawyer silverado coming soon

BY Avi Urban

MacLEOD TRAIL

ORE

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

03

ELBOW DRI VE

NM

01 h unter house by streetside development 16 AVENUE

ME M O R I AL

37 STREET

GLE

69 STREET

13

12

85 STREET

14

16 AVENUE

32 Ave

GLENMORE RESERVOIR

BARLOW TRAIL

E

EDMONTON TRAIL

ENU

14 STREET

16 A V

CENTRE STREET

southwest communities

SOUTHLAND DRIVE ANDERSON ROAD

DEERF

OOT T

W BO

CRE

04

10 vi ctoria cross by avi urban

132 Victoria Cross Blvd. S.W.

11 c urrie barracks

BY CANADA LANDS COMPANY

J5, 2953 Battleford Ave. S.W.

12 eighty5nine Coming Soon

TR

by vertical properties

AIL

194 AVE

AIL D TR LEO SHERIFF KING ST. SW

VITT

McKE 02 01 06

Mac

S JAME

SHAWNESSY BLVD.

836 Royal Ave S.W.

M

EK P ARK

TTO BO

FISH

RAIL

07 u no in mount royal BY maple projects show suite now open

UIS

MARQ

RNE OF LO

TRAIL 13

eighty5nine.com

he enclave at t castle keep by avi urban

9310 14th Ave. SW

14 valmont at aspen stone

35 Aspenmont Heights SW

15 t ribeca by bucci developments 323 20th Ave. SW

16 e instein by providence group 1521 35th Ave. SW COMING SOON

www.hometrader.ca | Volume 15 issue 13 | NEW Condo Guide 37

INNER CITY

NORTHWEST

ONLY 5 OPPORTUNITIES REMAINING

NEW

NW

TOWNHOMES

WITH 2 CAR ATTACHED GARAGES

STARTING FROM THE

$270’s

SHOWHOMES NOW OPEN

IN

W AUTHENTICALY URBAN. Located in the prestigious inner-city community of Currie Barracks, life at Victoria Cross is all about distinctive living, fresh new spaces and an unmatched lifestyle. Discover Calgary’s most unique townhome opportunity at

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1700-2300 SQ.FT. TOWNHOMES

$700’S

FROM THE

34 Evansview Road NW | 403 536 7290

aviurban.com/prospectrise

403 536 7230 | 132 Victoria Cross Blvd. SW

homesbyavi.com/victoriacross

F

Rangi

find c

two &

N.

life d an unity at

SOUTH

SOUTH

STEP ANOTHERW FOR ARD

SALES CENTRE NOW OPEN STARTING IN THE $170’s INNOVATIVE SOUTH CALGARY TOWNHOMES

WITH 2 CAR GARAGES

FROM THE $250’S

Start a new beginning at Sawyer Silverado.

650-1,000 sq. ft.1 & 2 bedroom condos in Calgary’s greatest SW community.

175 Silverado Blvd SW | 403.536.7282 LEARN MORE. REGISTER TODAY AT

AVIURBAN.COM/SAWYER Ranging from 1,130 to 1,400 square feet, at Edison, you’ll find clever design inside and out. Two car attached garages, two & three bedroom floorplans, & majorly modern exteriors make these townhomes a brilliant choice.

SALES CENTRE NOW OPEN 285 Walden Drive SE | 403.536.7236

aviurban.com/edison

DESIGNER TOUCH

// BY ERICA GELMAN

DECORATING FOR THE HOLIDAYS

Erica Gelman, Principal of Erica Gelman House Of Design, specializes in both large and small scale residential design projects. www.ericagelman.com

I

t’s that time of the year – friends are gathering, family is arriving, the food is cooking, the presents are stacking and you are hosting a highly anticipated holiday event. In our house, the holiday party is a not-to-miss affair; I take this season very seriously and expect nothing less from my guests. It’s the one time of the year where everyone clears their schedules and unites together.

Much like interior decorating, we suggest planning your holiday décor in advance. Decorating for the holidays goes beyond just dressing your tree and hanging the lights. It also means setting your holiday table, decorating your entrance and creating a festive atmosphere around your house, especially if you are expecting guests.

Prepare yourself for the amount of guests, the length of their stay and how many events you’ll be hosting. If you’re not hosting but rather attending, you still may want to make your home look and feel festive. The same principles

40

apply to decorating your home day-to-day as they do to decorating your home for the holidays. The most important rule of design is consistency. Allow your holiday décor to reflect, in this case, a new season and embrace the spirit of the holidays.

Start with a theme. Usually, I would say to stay away from any themed décor however, when it comes to the holidays I say, “Go wild!” Generally there is an excitement when it comes to the holidays and when entertaining I like to bring that excitement out in the details. For luxurious touches, what screams luxe more than glitzy gold or shimmering silver? You can add silver-rimmed wine or champagne glasses accompanied with gold leaf charge plates at the dinner table. This year, we suggest mixing your metals; you don’t just have to choose one.

Want to try a new spin on traditional hues? You can incorporate royal jewel tones like emerald green and deep amethyst with silver accents and create your own classic design. However, if it’s fresh and modern décor you’re ready to implement, try black and white punctuated with crystal accessories or gold finishes.

Incorporate things that are simple with something somewhat special. It could be your grandmother’s antique china mixed in with modern flatware, or historic family ornaments decorated in new apothecary glass vases.

When it comes to tabletop décor, a real statement comes from adding volume and height with various vignettes. If you want to leave your dining table strictly for tableware, then decorate around the room or on the buffet table. You can add one large centrepiece in the middle and several smaller ones around the room or across the table. While flowers are typically thought of as common centrepieces, we like to add contemporary details like birch trees cut down to size, faux antlers, lots of candles and even fur throws on dining seats.

Whether it’s Christmas, Chanukah or New Year’s Eve – be sure to deck your halls, dress your mantle, accessorize your tree, and set your tabletop.

The first consumer home show of the year!

With a new year revving up, homeowners start their annual ‘first of the year’ search for new home products and ideas, and know that it’s important to ‘get crackin’ on it to get the products and contractors they need, when they need them.

And that’s what HOMEXPO delivers!

Suppliers, contractors and builders, all under one roof for three days. And FREE PARKING for the first 300 cars!

Don’t miss our live presentation stage featuring designer and star of ‘Love It or List It’ on the W Network,

Ms

Hilary Farr

7:30pm FRIDAY SATURDAY 1:30pm

Kitchen and Bath renovator, John Sillaots is making his annual return to answer the never ending questions about the most important areas of the home – the kitchen and the bathroom!

JANUARY 11 - 13, 2013 BMO CENTRE, STAMPEDE PARK

FIRST

300 VEHICLES

PARK FREE! ALL THREE DAYS!

John Sillaots

Kitchen and bath specialist

HOURS Friday Noon - 9:00pm

Saturday 10am - 8:00pm

ADMISSION Adults (18+) $12 Seniors/Youth $10 Children (12 and under) FREE

Sunday 10am - 5pm 41

INNER CITY

yOu’ll alwayS REMEMbER yOuR FIRST.

RIVERFRONT dOwNTOwN CONdOS FROM ThE MId $200,000s. ONly 5% dOwN*

ExpERiEnCE

Sales Centre 553 Riverfront Ave SE, 403.263.8144 liveherefirst.com

*On approved credit. 5% cash down plus 5% in bond. Processing fee and bond cost paid by developer. Ask sales rep for details. Prices shown do not include GST and are subject to change without notice.

E&OE. Illustration is artist’s impression.

42

inner city 05 L una

by Qualex-Landmark Group of Companies

RILEY PARK VE 4A

6 AVE N

5 AVE N

12 08

VE 2A

1120 - 10th Avenue S.W.

N

SUNNYSIDE STATION

06 u no in mount royal BY maple projects show suite now open

ROTARY PARK

PRINCE’S ISLAND PARK

836 Royal Ave S.W.

07 d rake by grosvenor

17

EAU CLAIRE04 MARKET

09

16

01

08 P IXEL

by Battistella

4 AVE S 5 AVE S

13

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

6 AVE S

MILLENNIUM PARK

02

CONVENTION CENTRE

9 AVE S

MOUNT ROYAL VILLAGE

TALISMAN SPORTS CENTRE

4 ST W

5 ST W

CLIFF ST

03

10 ST W

PROSPECT AVE

26 AVE S

01 Riverfront Pointe

by CARLISLE group

101 Riverfront Avenue S.E.

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

MACLEOD TR

VICTORIA PARK / STAMPEDE STATION

17 AVE S

06

23 AVE S

1 ST W

2 ST W

COLONEL BELCHER HOSPITAL

11 1 ST E

10

4 ST W

11 AVE S 12 AVE S

15

5 ST W

8 ST W

10 ST W

14

05

FORT CALGARY

CITY HALL

OLYMPIC WY

GREYHOUND BUS TERMINAL

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

09 S olaire

By La Caille Group

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

10 c alla By qualex landmark group of companies 14th Ave. & 6th Street SW

11 keynote

220 12th Ave. SW

CALGARY EXIBITION AND STAMPEDE PARK

12 st. johns tenth street by streetside

ERLTON / STAMPEDE STATION

13 F IRST

by FRAM + Slokker

10th St. & 3rd Ave. NW

East Village, Calgary, AB

26 AVE S

03 TRIBECA

by BUCCI developments 1905 4th Street S.W. www.tribecamission.com

04 W aterfront

by Anthem Properties 216 Riverfront Ave. S.W.

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

15 t he block by avi urban

Sales Centre 1022 17th Ave. SW

16 steps by sturgess

Coming soon to Bridgeland

17 n ext by bucci

Show Suite 921 1st Ave. NE

www.hometrader.ca | Volume 15 issue 13 | NEW Condo Guide 43

SCRUMPDILLYICIOUS

// BY LESLIE STYLES

MOLTEN CHOCOLATE LAVA CAKE

LESLIE STYLES, FOODIE AND TRAVEL AFICIONADO, SHARES SOME DELICIOUS DISHES FOUND ON HER TRAVELS AROUND THE WORLD Ingredients

SERVES 4

› 4 tsp cocoa powder › 4 oz. good-quality dark chocolate, broken into pieces › 4 oz. unsalted butter (1 stick) › 2 large eggs

› 2 large egg yolks › 4 ½ oz. caster sugar › 4 oz. plain or pastry flour, sifted › Icing sugar, to dust › Raspberries, for garnish

Directions Preheat oven to 325°F. Grease four ramekins, about 2 ¾ inches in diameter, and dust with cocoa powder. Set aside.

Melt the chocolate in a small pan over medium heat. Once half melted, add butter and continue to heat until the chocolate and butter are completely melted and combined. Set aside.

WARM, SILKY AND DEVILISHLY GOOD, Molten Chocolate

Lava Cake is the quintessential chocolate-lover’s dessert.

Best of all, its gooey centre actually erupts with a luscious molten core of chocolatey goodness. And unlike some other recipes I’ve tried, this recipe is fool-proof!

Using a blender or hand whisk, beat the eggs, egg yolks and sugar in a medium bowl until pale and thickened, then add to the chocolate mixture. Gently fold in the flour with a metal spoon. Divide mixture between the four ramekins and cook in the oven for 12 to 15 minutes, until the cakes are firm on top.

Using oven mitts, remove the ramekins from the oven and turn them out onto serving plates. Garnish with raspberries and dust with icing sugar.

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

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FINANCING AVAILABLE

44 NEW CONDO GUIDE | VOLUME 15 ISSUE 13 | www.homeTRADER.ca

WE’VE BEEN MAKING OUR MARK IN CALGARY FOR ALMOST TEN YEARS.

Inner city

NOVA , 2 0 0 6

LUNA, 2009

COMING SOON STELLA, 2004

NOW IT’S YOUR TURN. Since 2004, Qualex-Landmark has been building high-rises of exceptional quality in Calgary, inspired by four words: commitment, integrity, respect and passion.

It began with Stella in 2004, Nova in 2006, Luna in 2009, and Calla currently under

C A L L A , 2 0 11

construction — all in the Beltline.

In 2013, Qualex-Landmark will begin to build its most ambitious structure yet — Mark on Tenth. It will feature designs never before seen in Calgary. But it will be built to Qualex-Landmark’s tried and true standards — with commitment, integrity, respect and passion.

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

8TH ST SW

10TH AVE SW www.hometrader.ca | Volume 15 issue 13 | NEW Condo Guide 45

MONEY MATTERS

// BY GAIL VAZ-OXLADE

HOLIDAY SHOPPING – WITHOUT THE FINANCIAL HANGOVER

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

he holidays are just around the corner and only the most savvy of us have everything under control. That’s one of the problems with our very busy lives… there’s just no time.

But if you want to have a happy holiday that doesn’t leave you holding your aching head when the bills roll in come January, you have to start planning early. The longer you wait, the more you’re prone to give in to stress, make impulse purchases, blow your budget or even buy a lame gift.

Look at your holiday spending as you would any other big-ticket item.

While you’re splitting the cost among a variety of expenses, the bottom line is still the same – you’re spending a lot of money in a short period of time.

In the best of all worlds, you would have started saving for your holiday spending in January. Yes, you would have made it a budget item and set aside $10, $50, $150 a month so when the season rolled ‘round, you’d be ready. After all, it’s way easier to set aside $100 a month than to come up with $1,200 all at once. This is how I do it, and come August I start keeping my eyes open for “deals” on things I know my friends and family will love.

Look at your holiday spending as you would any other big-ticket item. While you’re splitting the cost among a variety of expenses, the bottom line is still the same – you’re spending a lot of money in a short period of time.

46 NEW CONDO GUIDE | VOLUME 15 ISSUE 13 | www.homeTRADER.ca

List the people you plan to shop for under the gift category, then divide up your budget accordingly.

Limit your budget to what you can afford right now and avoid a financial hangover in the new year.

IF YOU CAN’T DO THAT, START HERE, WITH THIS “HOLIDAY SPENDING PLAN”:

›› Write down the amount you want to spend in each category of holiday expenses. Gifts are only the beginning – don’t forget to account for travel costs, postage and shipping, decorating, greeting cards, entertainment and photos. ›› List the people you plan to shop for under the gift category, then divide up your budget accordingly. Limit your budget to what you can afford right now and avoid a financial hangover in the New Year. If you spend $500 on a credit card at 18 per cent interest, and pay the minimum each month, it will take you seven years – and cost $365 in interest – to pay it off. Consider setting a dollar limit on gifts or drawing names among extended family, roommates or co-workers. ›› Jot down any gift ideas that you might have for the people on your list. Comparison-shop online before heading to the store. (Don’t forget to include shipping costs in your calculations if you decide to buy online.)

A DASH OF PLANNING AND A DAB OF CREATIVITY CAN ALSO HELP YOU KEEP YOUR ENTERTAINMENT COSTS UNDER CONTROL:

›› Serve brunch, throw a finger-food party or host a wine and cheese tasting instead of a full-blown turkey dinner. ›› Co-host a party with a pal or sibling, and share the cost. ›› Make sure you set a dollar limit for your soirée. And list the items, ingredients and décor you’ll need and how much each will cost. ›› Remember, that the best gifts don’t have to cost money. If you’re financially challenged this year, offer up your time babysitting, cooking meals, house cleaning, massaging, sewing, knitting, transporting, or whatever else you’re good at. Clip a picture of the service you’ll provide and be clear on how often, as in “I’ll babysit one weekend a month from February to June.” Or better yet, make your own coupon book.

There now, you don’t have to worry about starting the new year with a financial hangover.

Happy holidays!

›› Invite guests to bring something to share at a potluck dinner.

www.homeTRADER.ca | VOLUME 15 ISSUE 13 | NEW CONDO GUIDE 47

condo poll

Canadians don’t mind paying for the perks of

condo living Attracted to the urban lifestyle,

three-quarters of Canadian condo buyers say condo fees are worth the extra monthly expense to enjoy the benefits of living in a condominium.

The TD Canada Trust 2012 Condo Poll surveyed urban Canadians who recently bought or intend to buy a condo and found they are drawn to condos because they require less maintenance (60 per cent), are more affordable (45 per cent), and offer more amenities (25 per cent) than a house.

“Managing your housing expenses is about prioritizing your needs and budgeting accordingly. It’s clear that the convenience of condo living is important to many Canadians, and they are willing to pay the monthly fees that come with owning a condo,” says Farhaneh Haque, director of mortgage advice, TD Canada Trust.

The poll found that one-third of condo buyers (35 per cent) are willing to pay up to $200 per month in condo fees, 44 per cent would pay up to $400 and 17 per cent would pay up to $800.

Across all cities, Torontonians are willing to pay the highest fees; 38 per cent are willing to pay more than $400 and 16 per cent more than $600.

Even though they’ve set these limits, many condo buyers understand that monthly fees can increase at any time and have a plan: 29 per cent have a buffer in their budget and 34 per cent say they could cut back in the event of an increase.

“The possibility of a fee increase

can be a little unnerving,” says Haque. “While there’s no way to ‘lock-in’ to a monthly fee like you can with a mortgage, you can prepare for a fee increase by building a buffer into your monthly housing budget, as some Canadians have wisely done.

That way if fees go up, it won’t be a major shock to your cash flow. If they don’t increase, you have extra money to put aside in savings or towards your mortgage.”

According to the poll, condo buyers think the most important features when deciding on a condo to buy are: » Good building security (94 per cent) and low fees (94 per cent) » Energy-efficient building features (92 per cent) and attractive interior design (92 per cent) » A balcony (90 per cent) » Parking for their car (87 per cent) » Close to public transit (84 per cent) Women are more likely than men to look for a building with a balcony (92 per cent versus 87 per cent of men) and environmentally-friendly features (86 per cent versus 79 per cent of men), while men are more likely to say finding a brand new condo – not a resale (56 per cent versus 46 per cent of women) – is important to them.

Many condo buyers see condos as an affordable alternative to renting: 29 per cent say owning a condo is cheaper than paying rent. But, one-quarter say paying condo fees

40 NEW Condo Guide | Volume 15 issue 13 | www.hometrader.ca

still feels like paying rent so they are saving up to buy another place where they won’t pay monthly fees.

Almost one-third of condo buyers say the main reason for their condo purchase is that it is a good investment. Recent housing forecasts do not seem to have fazed most Canadians. Only one-third of the general Canadian population say recent forecasts have made them less likely to buy a condo.

“Recent housing forecasts have predicted that an over-supply of condos will cause a drop in prices.

How this affects your decision to purchase a condo comes down to your goals at that time,” says Haque.

“If you are buying a condo and see it as a source of rental income that you’ll move into when you are ready to downsize, this drop in value will likely not have a big effect. On the other hand, if you see a condo purchase as a way to build equity as you save up to buy a home, you need to consider the potential effect of a decreased price when you sell on the money you will have towards a down payment on a house.”

Of those who are buying condos that will not be their primary residence, 46 per cent think they are a good investment to buy and sell at a profit when prices have gone up.

Almost an equal number (42 per cent) see them as a long-term source of rental income and 38 per cent see them as a source of rental income for now that they will move into later when they are ready to downsize.

www.hometrader.ca | Volume 15 issue 13 | NEW Condo Guide 49

MAKE YOUR MOVE

// BY DAN HOPKINS

packing seasonal

DECORATIONS

> Store coloured lights in a dark place to prevent fading – especially blue, green and purple.

T

WRAPPING PAPER

DELICATE ITEMS

SOME OTHER CONSIDERATIONS

houghtful packing of seasonal decorations and materials at the end of the holidays for the next year can keep the fun in what is, for some, a stressful time. Here are some tips to keep in mind while packing away holiday decorations:

> Hanging garment bags provide good storage for wrappingpaper rolls. Use outside pockets for gift tags, cards and tissue paper. > To protect used rolls of paper, cut an empty wrapping paper tube from end to end and slide it over the roll.

> Wrap breakables in tissue or packing paper, or use bubble wrap. Do not use newspaper – the print may wear off on ornaments. > Boxes with dividers are best to pack ornaments in. They come with adjustable inserts that form individual cells for delicate items. > Keep extra hangers, hooks and ornament parts in a labeled bag or box.

> Wrap holiday candles individually in cellophane and store in a cool place so they don’t melt together. > Pack an “open first” box. Place the decorations you use first in here with essentials such as extension cords. > Use a “wardrobe box” to hang and store seasonal clothing that you only wear twice a year. This way you can find it, wear it, and store it away on a hanger easily. > Take special care if you are storing your items in a damp area. > Label every box. The more detailed the description, the easier it will be to find things next year. > Take a digital photo of special-care items like snow globes or wreaths, print them off on regular paper and tape a photo to the outside of the box.

LIGHTS

> To prevent tangles, wrap lights around empty gift-wrap paper tubes. > Leave the plug accessible by taping the ends of the light strands to the end of the tube. Next year, you can quickly test the lights before unwinding them.

SCAN TO VIEW

2 BEDROOM TOWNHOMES IN THE $400’S

Virtual Tour Virtual Tour

FALL / WINTER 2013 POSSESSIONS

1120 KENSINGTON RD NW TUESDAY-FRIDAY 10AM-6PM SATURDAY/SUNDAY 11AM-5PM 50 NEW CONDO GUIDE | VOLUME 15 ISSUE 13 | www.homeTRADER.ca

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What?

All this for $246,900 and All this for 225K and it includes parking. it includes 403.264.1703 drake17.com Show suites located at 850 – 16th Ave. SW Open 12-6pm Mon-Thurs, 12-5pm Weekends. Closed Friday. *See a sales representative for details. E & O.E.

Here’s what you can do to Recycle, Renew and Reuse • Keep your car in good working order. Tune-ups and filter changes cut down on exhaust emissions, and you’ll get better gas mileage.

When you change your oil, take your used motor oil to a recycling centre.

• Use available transit alternatives.

• Separate your garbage. Glass, aluminum, paper and even plastic can be recycled. If a recycling program is not directly available to you, contact your municipal sanitation department.

• Donate reusable clothing and linens to charity.

Most pick-up regularly in your area.

• Become environmentally active in your community.

You can make the world a better place to live... now and for future generations.

Recycle girl(19/9)-ja/ah

www.homeTRADER.ca | VOLUME 15 ISSUE 13 | NEW CONDO GUIDE 51

housing market

“ Moderation”

is the key word for Canadian housing markets in 2013 markets demonstrated remarkable resilience in 2012 despite tighter financing and economic uncertainty abroad.

According to a recent report by Re/ Max, home sales were up or on par in 65 per cent of major centres this year, and the trend is expected to continue, with home-buying activity propped-up by low interest rates and an improved economic picture in 2013.

The Re/Max Housing Market Outlook 2013, which examined 26 major markets across the country, found that the number of homes sold is expected to match or exceed 2011 levels in 65 per cent of markets in 2012, led by strong activity in Western Canada, including Calgary (up 13.5 per cent) and Regina (up eight per cent).

Eighty-one per cent of markets are set to experience average price increases by year-end, with HamiltonBurlington, Greater Toronto, and Fredericton at seven per cent and Saskatoon at 6.5 per cent. The forecast for 2013 shows the upward trend moderating, but values still ahead of 2012 levels in 85 per cent of centres.

Stability is forecast to characterize Canadian real estate in the New Year, with sales above or on par with 2012 levels in 81 per cent of markets.

Nationally, an estimated 454,000 homes will change hands in 2012, falling one per cent short of the 2011 level. And the average price of a Canadian home is expected to remain

Canadian real estate

52 NEW Condo Guide | Volume 15 issue 13 | www.hometrader.ca

stable at $364,000 in 2012—on par with the figure reported in 2011.

“Looking forward, there are a number of factors on the horizon that will serve to bolster residential activity in 2013,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “Canada’s economic performance is expected to show signs of improvement, particularly in the latter half of the year, which should bode well for housing markets across the country. Historically low interest rates will also continue to drive healthy home-buying activity, especially in the move-up segment.”

The report found that low interest rates were a major impetus in 2012, fuelling sales of homes across the board. Tight inventory levels also factored into the equation early in the year, causing a flurry of activity in many centres. By mid-year, however, the third round of CMHC mortgage tightening had a noticeable impact on housing markets, pushing homeownership beyond the grasp of many first-time buyers.

“Despite all the negativity surrounding residential real estate, the sky is not falling,” says Gurinder Sandhu, Executive Vice President and Regional Director, Re/Max Ontario-Atlantic Canada. “Home sales have moderated, but remain within healthy levels.

Greater optimism is expected to return next year, as the economy marks further improvement.”

While first-time buyers will continue to have a significant presence in the overall marketplace, they are expected to take a back seat in 2013 in Canada’s largest markets—with move-up buyers the new engine driving home-buying activity. The greatest advance in home sales is expected in Vancouver (12 per cent), Calgary (10 per cent), Halifax (five per cent), Kingston (4.5 per cent) and Saint John (four per cent). More balanced market conditions are expected in 2013 throughout the majority of markets, with supply meeting demand.

homebuyers’ help

Condo Buyers’ Resource Section You love the condo, see what you can afford!

Compare mortgage rates for your best deal alculate your mortgage payments using the C mortgage payment calculation chart

HOMEBUYERS’ HELP

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

CALCULATE YOUR MORTGAGE PAYMENTS

AMORTIZATION PERIODS

% 5 YEARS

10 YEARS

15 YEARS

20 YEARS

25 YEARS

5.00%

18.84

10.58

7.88

6.57

5.81

5.25%

18.96

10.70

8.00

6.70

5.95

5.50%

19.07

10.82

8.13

6.84

6.10

5.75%

19.18

10.94

8.26

6.98

6.25

6.00%

19.29

11.06

8.39

7.12

6.39

6.25%

19.41

11.18

8.53

7.26

6.54

6.50%

19.52

11.31

8.66

7.40

6.69

6.75%

19.63

11.43

8.79

7.54

6.85

7.00%

19.75

11.55

8.93

7.69

7.00

7.25%

19.86

11.68

9.06

7.83

7.15

7.50%

19.98

11.81

9.20

7.98

7.31

7.75%

20.09

11.93

9.34

8.13

7.47

8.00%

20.21

12.06

9.48

8.28

7.63

8.25%

20.32

12.19

9.62

8.43

7.79

MONTHLY PRE-TAX INCOME

SPOUSE’S PRE-TAX INCOME

TOTAL PRE-TAX INCOME

DIVIDE

BY THREE

AFFORDABLE MONTHLY PAYMENTS

AMOUNT OF MORTGAGE (PRICE-DOWN PAYMENT)

CHART FIGURE

AMOUNT OF MORTGAGE DIVIDED BY 1,000

AMORTIZATION AMOUNT

AMORTIZATION AMOUNT

ESTIMATED MONTHLY TAXES AND HEAT

MONTHLY PAYMENTS

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

01

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

Multiply this figure by the amount you need to borrow.

Divide by 1,000.

02

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

06

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

03

07

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

04

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

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

05

If this figure is equal to or less than one-third of your gross monthly income (calculated in Step 2), you’ll qualify for a mortgage on your dream condo.

Bear in mind that this is a rough estimate.

If you have several other large loans already, you may qualify for less. Also, banks and trust companies vary in their policies.

The best way to know what you can afford is to go to the lending institution of your choice and get pre-qualified.

54 NEW CONDO GUIDE | VOLUME 15 ISSUE 13 | www.homeTRADER.ca

COMPARE MORTGAGE RATES FOR YOUR BEST DEAL VARIABLE

AGF Trust Bank of Montreal Bank of Nova Scotia Bridgewater Bank CIBC Mortgages Canadian Western Bank Equitable Trust First Calgary Financial First National Financial FirstOntario Credit Un. HSBC Bank Canada ING Direct Investors Group Trust Manulife Bank Manulife Trust Meridian Credit Union National Bank Peace Hills Trust President’s Choice Fin’l Servus Credit Union T-D Mortgage

3.100 3.100 3.200 3.200 3.000 2.790 3.100 3.000 3.000 3.000 2.850 3.200 3.200 3.200

6 MONTHS

4.650 4.000 4.550 4.450 4.000 4.000 3.950 4.240 4.450 4.000 4.450 4.450 4.450 4.000 4.500 6.040 4.000 4.000

1 YEAR

3.040 3.100 3.650 3.240 3.000 3.100 3.100 2.390 2.740 3.090 3.600 3.250 3.100 3.000 3.000 3.100 3.100 3.100 3.140 3.100 3.000

2 YEARS

3 YEARS

4 YEARS

5 YEARS

3.200 3.140 3.890 3.390 3.140 3.140 3.140 3.140 2.690 3.190 3.950 3.250 3.140 3.100 3.100 3.140 3.140 3.350 3.200 3.140 3.140

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

3.340 4.640 4.390 3.570 4.390 4.640 4.640 3.290 3.150 3.290 4.990 3.250 4.640 3.150 3.150 3.400 4.640 3.850 3.350 4.390 4.640

3.490 5.240 4.990 3.200 5.240 5.240 5.240 3.290 3.090 3.240 5.240 3.090 5.240 2.950 2.950 3.280 5.240 3.950 3.440 5.240 5.240

This information is current as of December 6, 2012 and is subject to change without notice.

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

All mortgages are of two basic types:

CONVENTIONAL

OPEN MORTGAGE

Buyer can borrow up to 75 per cent of the purchase price or the value of the property, whichever is less.

Buyer has to pay 25 per cent down.

A conventional mortgage cannot exceed 75 per cent of the value of the property.

Allows borrowers are to repay all or part of the total amount of their mortgage at any time without penalty.

Because of flexibility, this is ideal for borrowers who plan to sell their homes in the near future or who want to switch from a short-term mortgage at high-interest rates to a longer term when mortgage interest rates fall.

INSURED OR HIGH-RATIO Buyer can borrow up to 95 per cent of the purchase price or the value of the property, whichever is less.

The down payment can be as low as five per cent.

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

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

PORTABLE MORTGAGE Offers flexibility if borrowers move.

Borrowers can take the mortgage to their new home or can transfer it (usually with the consent of the lender) to the purchaser of their old home.

This is an attractive option if the rate on the existing mortgage is lower than current rates.

www.homeTRADER.ca | VOLUME 15 ISSUE 13 | NEW CONDO GUIDE 55

homebuyers’ help

Condo hunter’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:

Project & address:

Project & address:

Project & address:

Salesperson:

Salesperson:

Salesperson:

Salesperson:

Phone:

Phone:

Phone:

Phone:

Developer/builder:

Developer/builder:

Developer/builder:

Developer/builder:

Type:

Type:

Type:

Type:

2-storey highrise bungalow

detached conversion townhome

2-storey highrise bungalow

detached conversion townhome

2-storey highrise bungalow

detached conversion townhome

2-storey highrise bungalow

detached conversion townhome

Sq. Footage:

Sq. Footage:

Sq. Footage:

Sq. Footage:

# of bedrooms:

# of bedrooms:

# of bedrooms:

# of bedrooms:

# of bathrooms:

# of bathrooms:

# of bathrooms:

# of bathrooms:

Interior appliances:

Interior appliances:

Interior appliances:

Interior appliances:

Options:

Options:

Options:

Options:

Parking facilities:

Parking facilities:

Parking facilities:

Parking facilities:

Special incentives:

Special incentives:

Special incentives:

Special incentives:

Price:

Price:

Price:

Price:

Down payment:

Down payment:

Down payment:

Down payment:

Condo fees:

Condo fees:

Condo fees:

Condo fees:

Financing available:

Financing available:

Financing available:

Financing available:

Other comments:

Other comments:

Other comments:

Other comments:

56 NEW Condo CoNdo Guide GuidE | Volume 15 issue 13 trader.ca 12 | www.hometradEr

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www.hometrader.ca | Volume 15 issue 13 | NEW Condo Guide 57

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