Calgary New Home Guide - Jan 31 , 2014 by NextHome

Jan 31 - Feb 28, 2014 Volume 17 Issue 2

walden: The New Urban Lifestyle

inside this issue

001-NHCAL CVR_01-31-14.indd 1

CALGARY IN 2014: FUNDAMENTALLY SOLID

MINIMAL DOWN PAYMENT STILL AN OPTION FOR SOME

HOW TO CHOOSE THE RIGHT PLACE TO LIVE

1/23/14 11:41:14 AM

t e v o m r u o y e k a M

in Airdrie

Front-attached garage homes starting from the low

400

’s*

Tofino Showhome Total: 2426 sq. ft.

Deck 12’6 x 10’

Nook 12’5 x 10’

Ga .P. sF

4 SH

D.W.

Living Room 12’5 x 15’4

Ensuite

Owner’s Owner’s Suite Suite 11’3x15’4 12’5 x 15’4

W.I.C.

Make 4-Up SH

Kitchen Kitchen

Laundry

4 4SHSH

Ref. Ref.

4 SH

W.I.C.

4 SH

Ensuite Make -Up

11’11 x 6’4 11’8x9’10

4 Shelves

Walkthrough IT Zone Lifestyle Room Pantry

Brm.

Family Room 11’7 x 14’7

Bench

Community Highlights

Open to Below

Open to Above

Mud Mud Room Room

■ Easy access to shopping, schools and medical clinics

Foyer

Veranda 7’ x 12’

■ Close to many parks, picnic areas and greenspace I.T. Countertop

Bedroom Bedroom22 13’9 x 10’9 11’9x10’9

Bedroom 3 13’11 x 11’ W.I.C.

Main Floor: 1067 sq. ft.

Recreation Centre and Woodside Golf Course ■ 20 minutes from Calgary & 15 minutes from

W.I.C.

Garage Garage 21’19’x22’ x 22’

■ Minutes from a variety of recreation such as Airdrie’s

Calgary International Airport ■ Close to CrossIron Mills Shopping Centre and Costco

Second Floor: 1359 sq. ft. * Starting from price includes house, lot and GST. Subject to change without notice.

AIRDRIE YANKEE VALLEY ROAD

Hillcrest Way

TO CALGARY

Showhomes

HIGHWAY 2

8th Street SW

N Turn off for Yankee Valley Blvd 2

TO CALGARY

Call Jeff for more info:

403-536-2316 Showhome Location: 2 Hillcrest Street SW, Airdrie 6 Hillcrest Street SW, Airdrie

Showhome Hours: Mon - Thurs: 2 - 8 pm Sat, Sun & Holidays: 12 - 5 pm follow us:

shanehomes.com

VIEW OUR MAGAZINES ON ANY

DIGITAL DEVICE anytime, anywhere!

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

NEWHOMEGUIDE.CA Published by

linea

we’ll make it beautiful you’ll make it yours Every uncommonly stylish Sabal home is a living example of our dedication to innovative design and even better craftsmanship. Add the freedom to personalize your home with our unparalleled interior finishing options, and you’ll see - Sabal fits you and the way you live.

find Sabal style in 18 show homes and 4 distinct communities. quick-possession, attached, laned and front-garage homes priced from the $300s

visit sabalhomes.com today for details and directions 05

contents

January 31 - February 28, 2014 || volume 17 issue 2

on the cover

p. 12

genstar development

Chaparral Valley and Walden a hit with buyers

features & editorials in every issue

in the news

Finances

Fundamentally Speaking

RRSPs

by Wayne Karl

Editor’s note

columnists

14 16 22

Calgary market fundamentally solid in 2014

Calgaryism

You’ve got to love our Chinooks by Cody Battershill

Insight

The benefits of professional landscape construction

Make Your Move

Blizzards, black ice and moving by Chuck Resnick

by Jason Eldridge

Mortgage Mogul

Minimal down payment is still an option for first-time buyers

The Homebuying Process The importance of choosing the right place to live by Donna Moore

Tips to find money to begin investing today Economy

Canada to benefit from a stronger U.S. economy in 2014

homebuyers’ help

by Brad Jackman

Money trumps love when it comes to New Year’s resolutions

Showhome review

Shane Homes’ Orion in King’s Heights a must-see by Heather Ryan

Mortgage

Intelligence

Supersize your mortgage payments

omebuyers’ H Resource Section

Mortgage calculator and rate table

vice-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

Bianca DiPietro

editor

Wayne Karl contributing editors

Sara Duck Elisa Krovblit Lydia McNutt

Melanie Gowans

Senior Media Consultant

403.200.8462 Follow me on twitter @melgowans Like us on facebook; facebook/CalgaryNHG

PRODUCTION CO-ORDINATOR

Greg Van Sluytman Graphic designer

Mihail Terentiev Manager of production

Bala Gnanapandithan national account manager, mediative

Paul Slizys

For Advertising inquiries please contact:

district maps 9 21 25 29 35 39

41 43 45

Southeast Northeast Cochrane Airdrie Northwest

Calgary region south Okotoks Southwest Calgary

east

region

403.200.8462

For National Advertising inquiries call:

416.263.6783

Published By

Calgaryâ&#x20AC;&#x2122;s New Home Guide is published 13 times per year. We are located at 2891 Sunridge Way NE Calgary, AB T1Y 7K7. Phone: 587.226.1313. The magazine is free to the public.

Home Guide, Toronto, Ontario, Canada. Reproduction in any form is prohibited. Contents of this publication are covered by Copyright and offenders will be prosecuted under the law. The views and data expressed by columnists do not necessarily represent those of the publication.Wall2Wall Media is a trademark of Yellow Pages Group Co. in Canada.

Terms Advertisers, Editorial content are not responsible for typographical errors, mistakes or Âmisprints. All prices are correct as of press time and are subject to change without notice. E. & O. E. Editorial Submissions from interested

parties will be considered. Please submit to the editor at Susan.Legge@wall2wallmedia.com.

//EDITOR’S NOTE

Taking advantage while you can Low interest rates are still in your favour

SUSAN LEGGE

EDITOR-IN-CHIEF Wall2Wall Media Susan.Legge@wall2wallmedia.com Follow me on Twitter at Twitter.com/SusanLegge

he Bank of Canada’s latest announcement to hold its interest rate target at one per cent does not come as a surprise. The rate has been holding at that level since September 2010, which is good news if you’re in the market for a mortgage. There are many excellent mortgage products available from banks and brokers that will suit your individual needs, and could well be lower than posted bank rates, which are currently hovering around three per cent for a variable rate. With a pre-approval in hand, you’re protected if rates rise; if they go down, you’ll likely get an even lower rate. A pre-approval can be a win-win situation for shoppers, since it means you don’t have to wait to get

financing approval on a home when you put in an offer. This is an especially good tool to have when markets are hot. Removing the “conditional on financing” clause could mean your offer is accepted first since you already have your financing in place. So when will rates rise? It’s anyone’s guess, but most experts agree it’s unlikely there will be any significant movement until mid 2014. However, we can’t assume that will be the case, and you shouldn’t wait too long to get pre-approved for a mortgage. It can take a few days. Many lenders offer online pre-approvals to make the process faster and easier. Start the New Year off right by taking advantage while you still can.

Resolve to plan carefully in 2014 Low rates mean opportunity, but not at any cost

he past year certainly presented some interesting times – simultaneous talk of slowdowns and soft landings in some markets, increases, upticks and value gains in others. Indeed, now more than ever, housing and economic conditions serve as reminders of how local real estate is. What’s going on in one part of the country or province or in a specific property type, may be completely different from another. On the positive side as we head into 2014 are interest rates that are still at or near historic lows, with the next Bank of Canada rate announcement to come March 5. Many experts don’t expect

WAYNE KARL

EDITOR Wall2Wall Media Wayne.Karl@wall2wallmedia.com Follow me on Twitter at Twitter.com/WayneKarl

08 NEW HOME GUIDE | JAN 31 - FEB 28, 2014

rates to begin rising until mid-year at least, while cautioning that Canadians should not confuse cheap money – if they qualify – with free money. Ottawa continually keeps a close eye on household debt and other signposts for any warnings that we’re taking on more debt than we should. Fixed versus variable rate? Long versus short? Open versus closed? These are among the questions you may be pondering as you prepare for your next steps as a homebuyer. Your best strategy? Meet with your broker or banker to see how you can take advantage of these opportunities, without getting in over your head.

68 ST

14 ST

16 AVENUE

MEM OR

›› SOUTHEASTCOMMUNITIES 36 STREET

17 AVENUE

IVE DR

IAL

02 COPPERFIELD

9 DERSON ROAD

W BO

cLE

Mc KENZIE

CL D. VO R BLV

130 AV ENU E

AKE

SHAWNESSY BLVD.

NE LOR

TRA

AIL

SPRUCE MEADOWS HWAY

D OA

OF UIS 5 of NOTE: Map is just a graphic representati onRQ of areas of developments. See ad MA a particular project for more details. SHERIFF KING STREET

JAMES Mc KE

TT VI

05 MAHOGANY

FISH CREEK PARK

BOT

EEK PARK

FOO T TR

SHOWHOMES: Walden Terrace SE DEVELOPER: Genstar BUILDERS: Cardel Homes, Innovations by Jayman, Excel Homes, Homes by Avi, California Homes, Avi Urban

TOM TR

24 STREET

DEE R

1 CRANSTON AVE. SE

SETON BLVD SE

SHOWHOMES: Mahogany Boulevard SE & Mahogany Heights SE DEVELOPER: Hopewell Residential Communities BUILDERS: Jayman MasterBUILT, Sabal Homes, Stepper Custom Homes, Trico Homes, Homes by Avi ESTATE SHOWHOMES: Mahogany Manor SE BUILDERS: Baywest Homes, Calbridge Homes, Morrison Homes www.mahoganyliving.com

06 McKENZIE TOWNE

DEVELOPER: Brookfield Residential ELGIN VILLAGE SHOWHOMES: McKenzie Towne Dr. SE, Elgin Meadows Green SE., Elgin Estates View SE BUILDER: Albi Homes, Cove Properties, Cardel Lifestyles, Brookfield Homes, Avalon Master Builder www.livemckenzietowne.ca

07 NEW BRIGHTON

SHOWHOMES: New Brighton Dr. SE DEVELOPER: Brookfield Residential BUILDERS: Shane Homes, Cardel Homes, Trico Homes, Cedarglen Homes, Morrison Homes, Homes by Avi, Innnovations by Jayman, Brookfield Homes www.livenewbrighton.ca

08 CHAPARRAL VALLEY

9 01 AUBURN BAY

SHOWHOMES: Cranarch Landing DEVELOPER: Brookfield Residential BUILDERS: Albi Homes, Shane Homes, Cardel Homes, Cedarglen Homes, Trico Homes, Discovery Homes, Landmark Homes, Baywest Homes, Brookfield Homes RIVERSTONE OF CRANSTON BUILDERS: Albi Homes, Cedarglen Homes, Landmark Homes, Baywest Homes www.livecranston.ca

04 WALDEN

52 STREET

HLAND DRIVE

2 AVENUE

03 CRANSTON

GLENMORE TRAIL BARLOW TRAIL

MORE VOIR

SHOWHOMES: Copperpond Heath SE and Copperpond Blvd. SE www.copperfield.ca DEVELOPER: Hopewell Residential Communities BUILDERS: Excel Homes, Sabal Homes, Stepper Custom Homes

52 STREET

MacLEOAD TRAIL

ELBOW DRIV E

BLACKF OOT

A IL

17 AVENUE

SHOWHOMES: Auburn Shores Way SE & Auburn Springs Blvd SE, Auburn Bay Blvd. SE, Auburn Sound Manor SE, Auburn Bay Gardens, Auburn Shores Landing DEVELOPER: Brookfield Residential BUILDERS: Brookfield Homes, Cedarglen Homes, Baywest Homes, Jayman MasterBUILT, Albi Homes, Morrison Homes, Discovery Homes, Inspire by Jayman www.liveauburnbay.ca

SHOWHOMES: Chaparral Valley Drive SE & Chaparral Valley SQ DEVELOPER: Genstar BUILDERS: Cardel Homes, Jayman MasterBUILT, Innovations by Jayman, Cardel Lifestyles, Homes by Avi, California Homes

09 QUARRY PARK

SHOWHOMES: Quarry Landing SE, Quarry Parkway SE. DEVELOPER: Remington Corporation BUILDERS: Cardel Homes, Birchwood Properties

10 LEGACY

DEVELOPER: Westcreek Developments BUILDERS: Stepper Custom Homes, Albi Homes, Trico Homes, Excel Homes, Sterling Homes, Creations by Shane Homes

JAN 31 - FEB 28, 2014 | NEW HOME GUIDE 09

A community is not just a place where you live. It’s a place where memories are made, experiences are shared, and people and families grow – together. It’s where you have everything that you need and want at your ﬁngertips. Brookﬁeld communities are built with that in mind – by blending the energy and amenities of urban living with the calm and beauty of green spaces and parklands.

Homes to suit your needs Visit LiveBrookﬁeld.ca for home and pricing information. 10

Brookﬁeld Residential crafts exceptional residences that give you what you want at a price you can afford. Our thoughtful designs will inspire you to create something special of your very own, and our award winning customer service will ensure you enjoy building the home of your dreams. Explore a variety of spacious single family, side by side and townhomes at LiveBrookﬁeld.com.

TOWNHOMES WITH ATTACHED GARAGES

2 storey and bungalow models, 720 to 1612 sq. ft. Muskoka Auburn Bay from the $240’s Harvest Mosaic Cranston from the $240’s Mosaic Mirage McKenzie Towne from the $240’s Mosaic Riverstone of Cranston from the $450’s

SIDE BY SIDE LANED HOMES

2 storey models, 1116 to 1413 sq. ft. Auburn Bay from the $310’s Cranston from the $300’s

SINGLE FAMILY LANED HOMES

2 storey and bungalow models, 1010 to 1740 sq. ft. Auburn Bay from the $340’s Cranston from the $330’s

LiveBrookfield.com

//cover story

Genstar’s

two south communities are a hit with buyers » by heather ryan

wo south Calgary communities that offer a wide range of stylish housing choices, exceptional amenities and outstanding locations are proving to be a hit with new-home buyers. Crafted by Genstar Development Company, buyers have fallen in love with both Chaparral Valley and Walden, which offer welcoming atmospheres with an abundance of greenspaces with parks, pathways, playgrounds and more. Located in the beautiful Bow River Valley, Chaparral Valley presents a small enclave of just 500 homes in a picturesque, natural setting that places golfing, the river and trails to Fish Creek Park minutes from the front door. “Chaparral Valley’s unique location makes it feel like you’re living in a small village, and the feedback we get from buyers is that it has a strong sense of community where everyone knows their neighbours,” says development manager Patrick Briscoe The community has been so well received that it’s moving 12 New home Guide | JAN 31 - feb 28, 2014

into the last phase of development, Phase 5, which offer buyers a wide range of choices from starter to move-up and semi-estate homes. In this final phase, Innovations by Jayman is offering front-attached garage homes on narrower lots for the entry level market, and the builder opened a new showhome in late 2013. Cardel Homes is also crafting front-attached garage homes for the starter market on lots averaging 32-ft. in Phase 5, and will open a new showhome on Feb. 1. “It’s great to be able to offer starter homes in this final phase, because it provides buyers with an opportunity to get into this terrific community at an affordable price point,” Briscoe says. Further, Cardel, Homes by Avi and Jayman MasterBUILT are crafting move-up homes with front-attached garages and estate-sized homes in Phase 5. Many of the lots back onto the environmental reserve and natural parks featuring pathways that connect to the river and Fish Creek Park. All of these

genstar development | Walden & Chaparral Valley

builders have showhomes and there are a total of eight showhomes open in the community. Along with Chaparral Valley’s amazing location and amenities that include the 18-hole Blue Devil Golf Course and the Lil Devil 9-hole course, the community also features a Central Park highlighted a distinctive rock wall, playground and toboggan hill, and a commercial site is being developed. Residents are just minutes away from shops and services in neighbouring Lake Chaparral and Walden. “In Walden, we’re seeing a lot of success and increased in interest with the opening of the Save-on-Foods grocery store; it’s drawing a lot of people to Walden,” Briscoe says. “They did a great job with the supermarket and a lot of people love being able to get their groceries, pick up their prescriptions at Shopper’s Drug Mart, have coffee or do their banking at the Gates of Walden without having to leave their community.

Located in the beautiful the Bow River Valley, Chaparral Valley presents a small enclave of just 500 homes in a picturesque, natural setting that places golfing, the river and trails to Fish Creek Park minutes from the front door. Walden is really moving towards being a more established, vibrant community.” In 2014, Genstar is thrilled to offer a starter home segment again in Walden, with Excel Homes offering a wide selection of housing choices for buyers and the builder is expected to open a showhome in spring 2014. “Our showhomes are also moving closer to the centre of the community now making it feel like a more mature new community, and Cardel Homes and Homes by Avi will have new move-up showhomes there in early 2014,” Briscoe says. Cardel and California Homes will also continue to have semi-estate homes in Phase 13, with homes backing on a naturalized park and an existing tree stand that reflects the community’s theme of low environmental impact and sustainability. Both Chaparral Valley and Walden are located on 194th Avenue and Macleod Trail, so they offer easy access to major routes such as the Stoney Trail ring road, Macleod Trail and Deerfoot Trail. For more information on these communities visit the showhomes, open Monday to Thursday, 2 to 8 p.m., and weekends noon to 5 p.m., or visit welcometothevalley.ca or waldenliving.ca JAN 31 - feb 28, 2014 | New home Guide 13

//FUNDAMENTALLY SPEAKING

Fundamentally solid in » by WAYNE KARL

2014

We’ve often discussed in Fundamentally Speaking and elsewhere in New Home Guide about the importance of doing your research and due diligence when buying a home. One of the best resources – if you’re a

WAYNE KARL

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

first-time or move-up buyer or even an investor – is Canada Mortgage and Housing Corp. (CMHC). And of all the valuable information and data CMHC produces, none is more educational than its annual housing outlook conferences, recently rolled out across the country. It’s impossible for all homebuyers and homeowners to attend these events, for obvious reasons, and since they are open mostly to those in the industry. But if ever there was an excellent refresher on the fundamentals that determine and support real estate market conditions, and puts it all in perspective, this is it.

HERE IS A SUMMARY OF SOME KEY POINTS: » The economy: The economy in Calgary continued to expand, thanks largely to the energy sector. This kept companies and employers across many different industries busy filling vacant positions and retaining staff. Employment increased 2.3 per cent on a year-over-year basis from January to August, with the majority of these positions full-time. Employment is projected to increase 2.8 per cent for 2013 and 2.5 per cent in 2014.

Mortgage rates are to see modest and gradual increases late in 2014, but will remain low by historical standards. » Mortgage rates: Mortgage rates are to see modest and

gradual increases late in 2014, but will remain low by historical standards. This outlook will continue to support housing market activity this year. » Housing starts: Housing starts, an important indicator of growth and health of the housing sector, are forecast to rise 12 per cent year-over-year to 13,100 units in 2014. While increases are expected for single-detached starts, multifamily starts will experience more pronounced gains following a reduction in 2013. 14 NEW HOME GUIDE | JAN 31 - FEB 28, 2014

» Calgary market: So, what does all

this mean? New-home inventories are not expected to experience large gains, leaving opportunities for more units to be started. The construction of single-detached units was steady in 2013, supported by a multitude of factors. Job creation has remained positive for the last couple of years, while net migration is at record levels.

» Calgary opportunities:

An increase in multi-family starts is expected for 2014. The rise in single-detached home prices will have some buyers looking to the multifamily market, where prices on average are lower, while others will be buying for lifestyle reasons. Some of these buyers will be homeowners who have benefitted from price gains in the single-detached market and are downsizing, while others are purchasing their first property.

Such a robust economy, strong employment situation and net migration will all continue to support demand for lowrise housing. Given the overall challenges elsewhere in Canada, looking at the big picture and long term in Alberta, the important determining factors are – fundamentally solid.

Get in before time runs out. ONLY 13 LOTS REMAINING

OVER 90% SOLD

Deerf

oot Tra

Prices subject to change without notice. E&OE.

Built for real life. CARDELHOMES.COM

24 St SE

CARDEL MANOR COLLECTION

Quarry Park Blvd

r ive

700s

wR Bo

FROM THE

Glenmore Trail SE 18 St SE

Don’t miss your opportunity to call Quarry Park home.

Model Homes: 5 Quarry Way SE Deerfoot Trail

Large estate lots backing onto greenspace. A market, dining and the Bow River pathway just steps away. Easy access to schools and future rec centre. And only 16 minutes from downtown.

Call Shannon Lewis at 403.457.5828 Sales Centre Hours: Mon – Thurs: 2 pm – 8 pm Sat, Sun + Holidays: 12 pm – 5 pm Closed Fridays

//CALGARYISM

YOU'VE GOT TO LOVE

our Chinooks » by CODY BATTERSHILL

CODY BATTERSHILL is the founder of Calgaryism and a topproducing realtor at Re/Max House of Real Estate. He also sits on the condominium task force at the Calgary Real Estate Board. He can be reached at 403.370.4180 or calgaryism.ca

What is a Chinook, anyway? No, I’m not talking about the North Pacific salmon, but the Chinook winds we here in Calgary are so lucky to have. A Chinook wind is a warm, dry wind originating from the Pacific Ocean that blows eastward over the Rocky Mountains, then down their slopes onto the western prairies below. In Alberta, Chinooks are most common in its southern region, especially in the Lethbridge area, which experiences more than two dozen ever year. They do occur north of Red Deer at certain times, but not nearly as much. CHINOOK FACTS

› Rapid and considerable changes in

temperature › Rapid decrease in air humidity, leading to increased fire hazard › Snow and ice may melt rapidly › Strong, warm winds that could reach dangerous speeds › People may feel a sense of relief from the cold, physically and psychologically

HOW TO RECOGNIZE CHINOOKS

Apart from the rapid temperature change they bring, Chinooks are most easily recognizable by the “Chinook arch” they form – a long line of cloud to the east, and clear sky to the west. At times, these arches can seem like an imposing storm cloud, but in reality, they are winter’s “arch” nemesis. This weather phenomenon is also our friend, as it can eliminate our winter chills and cause warm smiles all around in less than a few hours. CALGARY AND CHINOOKS

When the first settlers of what would become Calgary arrived and established a North West Mounted Police outpost at the congruence of the Bow and Elbow Rivers, little did they know that they picked the perfect location. A location that would experience Chinook winds every so often throughout winter which had the ability to change a cold winter's day into a warm one very quickly, and melt a substantial amount of snow within a matter of hours. These warm winds have been known to raise the temperature on a given day by up to 20 degrees Celsius (36 degrees Fahrenheit), a change that could last for many days. I LOVE CALGARY

As a born and raised Calgarian, I have become used to the warmth that the Chinook winds bring. They provide relief from the cold sub-zero temperatures of Calgary’s winters, and will always be another reason why I love Calgary with all my heart! JOIN US

Want to learn more about the city of Calgary? Come and join us at Calgaryism on Facebook, Instagram and Twitter today! We will see you there!

16 NEW HOME GUIDE | JAN 31 - FEB 28, 2014

CGY-CMP-1780 CRANSTON 8 LOTS_NHG AD_7.5x10.5 - FEB

Should have. Could have. Still can. ONLY 8 LOTS REMAINING

Marquis of Lorne Trail

22X 2

Cranston Gate

Cranarch Common

Seton Blvd

Deerfoot Trail

r Rive Bow

Cranston Ave Cranarch Road Cranfor

Your chance to come home to Cranston will soon be gone. Just 8 lots and 7 quick-possession homes remain in this hugely popular community. With affordale pie-shaped, greenspace and south-facing backyard lots still available – the time to act is now. Discover life just steps from Fish Creek Park ridge and come home to Cranston. STARTING FROM THE

$490s

Prices subject to change without notice. E&OE.

Built for real life. CARDELHOMES.COM

Visit Our Sales Centre

89 Cranarch Common SE Community Sales Manager

Ashley Doherty 403.257.2678

Sales Centre Hours: Mon – Thurs: 2 pm – 8 pm Sat, Sun + Holidays: 12 pm – 5 pm Closed Fridays

Alberta Government Introduces Mandatory Home Warranty Protection Owner-builders, who meet certain criteria, are eligible for an exemption from the mandatory coverage and can apply for an owner builder authorization. If it is sold within the warranty period time frame, the owner-builder will be required to provide the remaining warranty to the new home buyer. “It is expected that the new home warranty would cost about $1,700 to $2,000 for an average home, or less than one per cent of the cost of the average house.”

Effective February 1, 2014 all builders are required to provide new home warranty coverage for all new homes built in Alberta. Alberta now has one of the strongest coverage in Canada as mandated under the new Act. Under the Alberta government legislation the New Home Buyer Protection Act, all new detached homes and condominiums would, at minimum, include a warranty for: • One year labour and materials; • Two years for defects in labour and materials related to delivery and distribution systems; • Five years building envelope protection, with a requirement for the warranty provider to offer the consumer the option to purchase additional years of coverage; and, • 10 years coverage for major structural components. “With this new program, Albertans buying new homes will have some of the strongest warranty coverage in the country. This is important, given that a home is the largest purchase most people will ever make,” said Heather Kaszuba, spokesperson for Alberta Municipal Affairs.

The new legislation will expand the current coverage to two years on the various systems, such as electrical and plumbing, ten years on major structural and five years on the building envelope. Building envelope refers to the exterior shell of the home, including the roof and walls. The mandatory warranty will offer a greater protection and comprehensive coverage for home buyers. This extension of time is important as many defects, such as improperly installed windows, vapour barrier, or insulation to name a few, can take some time to appear. Currently about 80% of all new homes only have a one year warranty covering the building envelope, fit and finish, delivery and distribution system and major structural covered for five years. Potential buyers will be able to go onto the registry and see how much warranty is available on the home of their interest. The registry will not cover homes that predate the new mandated warranty legislation. Anyone can go online, type in the address, find out if the home has coverage and what remains. Even if the home has had previous owners the coverage transfers to the new buyer as the warranty resides with the home. The public registry will also show current status and who the warranty provider is so you can find out who to contact to make a claim. The Public Registry will be in place Feb 1st. The Act’s additional warranty coverage for new homes will ease home owner’s minds and make their home owning experience one of enjoyment, not of worry. For additional information call Toll Free 310-0000 or visit HomeWarranty.Alberta.ca

Better warranty standards. Built for your new home.

Now In Effect For the first time ever, all new homes built in Alberta are now covered under one of Canadaâ&#x20AC;&#x2122;s best warranty programs. This ensures even higher quality standardsâ&#x20AC;&#x201D;and better protection for new home buyers like you. Get to know your role at HomeWarranty.Alberta.ca

‘‘ We didn’t need to build our dream home. ‘‘

Trico had already done it.

Trico Quick Possession Homeowner

NOW BUILDING IN 15 AMAZING COMMUNITIES IN CALGARY & SURROUNDING AREAS

Every owner has their own reason for falling in love with their Trico Home. For Carmen it was the spacious layout, the “spectacular kitchen” and “awesome” ensuite. So tell us your wants, needs and desires for your new home. We want this to be a love affair that lasts and lasts.

Homes that fit...your wishlist.

tricohomes.com 20

TC-12218 NHG Jan31 v2.indd 1

14-01-21 1:38 PM

PANORAMA ROAD

STONEY TRAIL

4 3

52 STREET

HARVEST HILLS

METIS TRAIL

MONS VALLEY ROAD

›› NORTHEASTCOMMUNITIES COUNTRY HILLS BLVD.

36 STREET

DE ER F

COUNTRY HILLS BLVD.

TRA IL

GAN NAP I

CALGARY INTERNATIONAL AIRPORT

32 AVENUE

14 STREET

64 AVENUE

MCKNIGHT BLVD.

68 STREET

CENTRE STREET

64 AVE.

FALCON RIDGE

SHA

L 80 AVENUE

NOSE HILL PARK

68 STREET

TR AI L

16 AVENUE

NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.

01 SADDLESTONE

SHOWHOMES: Saddlelake Place NE DEVELOPER: Genesis Land Development Corp. BUILDERS: Genesis Builders Group www.genesisbuildersgroup.com

02 SADDLEBROOK

DEVELOPER: MLC Land Company BUILDERS: Elite Homes, Pacesetter Homes, Trico Homes

03 SKYVIEW RANCH

SHOWHOMES: Skyview ranch Way NE & Skyview Springs Gdn NE DEVELOPER: Walton Development and Management BUILDERS: Creations by Shane Homes, Innovations by Jayman, Beattie Homes, Morrison Homes, Excel Homes, Shane Homes, Pacesetter Homes, Lionsworthe Homes

04 REDSTONE

DEVELOPER: Qualico Communities BUILDERS: Broadview Homes, NuVista Homes, Pacesetter Homes, Innovations by Jayman, Trico Homes

05 CITYSCAPE

DEVELOPER: Mattamy Homes BUILDERS: Mattamy Homes

JAN 31 - FEB 28, 2014 | NEW HOME GUIDE 21

//insight

Professional landscape construction Âť by Brad Jackman

n the middle of our winter and just after the holidays, landscaping might be the furthest thing on your mind. Landscape 360 would like to highlight a few ideas the homeowner can contemplate as the seasons change. Hiring a landscape contractor should be exciting and satisfying. However, this can be a very discouraging time for some homeowners, unsure of where to begin, what you want it to look like and who to talk to. Here are a few things to think about and tips to guide you through a satisfying landscape construction experience. What is your landscape vision? Homeowners need to consider what kind of space is desired and would best suit their wants and needs. Must it be safe for children? Do you have pets? How much entertaining do you do? Are you a gardening Green thumb? Or would you prefer no maintenance at all? These are the types of important questions you should have answered in order to create a landscape concept that works for you. What is your budget? It is important to understand that quality landscaping requires substantial investments of time and money. Thus having a budget and planning around that budget will be crucial. It is also not unusual for work to be split up over consecutive summers, easing some of the financial burden while executing your landscape plan. Depending on what is required for labour, equipment and materials, it may be more or less of an investment one season to the next.

Do you have a plan? You can never call a company too early to plan for the following seasonâ&#x20AC;&#x2122;s project. Many landscape companies are limited in the number of jobs they can do in a season. Having a plan and beginning the process early can allow for your project to be started in your desired time frame. Once a professional consultation has been done, you and your landscaper can discuss your vision and begin a customized plan based on your budget. Hire a professional landscaper. Many homeowners underestimate the work associated with landscaping, or the knowledge required to produce a quality outdoor living space. Weekend warriors may be in for a surprise! It is important to hire someone who has extensive experience in the industry, and is a full service landscape company. Many landscape companies do not address all aspects of landscaping. Find a landscape company that will complete the task from start to finish and handle any subcontracting required. Remember that there are many different Landscape 360. Professional Landscape Construction.

22 New home Guide | JAN 31 - feb 28, 2014

Hire a professional landscaper. Many homeowners underestimate the work associated with landscaping, or the knowledge required to produce a quality outdoor living space.

approaches to outdoor projects. The final result will fall between what you can plan and budget for and what your landscaper is capable of creating. When deciding which landscape company to hire, itâ&#x20AC;&#x2122;s beneficial to do your research. Ask to see their portfolio, view their website and look into some of the products yourself. Most importantly, ask lots of questions. Landscape construction can be done very differently. Hire a company which uses quality equipment, utilizes the best products available and installs it all professionally. Landscape 360 is a full-service landscape construction company. Our philosophy is based upon professionalism, quality, trust and respect. A locally owned and operated Calgary based company, Landscape 360 specializes in residential, estate and acreage landscape construction.

403.452.0360 | landscape360.ca |

like us on facebook JAN 31 - feb 28, 2014 | New home Guide 23

//IN THE NEWS

Money trumps love when it comes to 2014 New Year’s resolutions: BMO More than one-third of Canadians making New Year’s resolutions for 2014 resolved to improve their personal finances, according to a new study from the BMO Wealth Institute.

Resolutions related to personal finances, at 36 per cent, ranked second only to health and fitness, at 51 per cent – and ahead of resolutions related to love life or the workplace. “It’s encouraging to see that so many Canadians making financial issues a priority,” says Chris Buttigieg, senior manager, wealth planning strategy, BMO Financial Group. “Planning is essential to achieving your goals. If your New Year’s resolution is to lose weight, you will need to follow a plan that includes an exercise schedule and a diet regimen. Similarly, developing a financial plan is only the first step, the second and most crucial step is to implement the strategies recommended in the plan, and finally review the progress of the financial plan at least on an annual basis. Following these steps will increase the chances of reaching your financial goals.” A financial plan helps people work towards their short and long-term goals, such as the purchase of a new home, saving for a child’s education or investing for retirement. It provides a roadmap that outlines the path from where they are today to where they want to be in the future. At BMO,

the process begins with a financial professional reviewing a person’s finances – including assets, liabilities, income, spending habits and investments – then building a personalized plan that takes these items and risk tolerance into account and fits with the rest of his/her life. The survey found that 59 per cent of Canadians currently have a financial plan (down from 64 per cent in 2012). Of those who have a financial plan: • Eighty-two per cent reported that their financial plan has helped them achieve their goals. • Sixty-nine per cent wished they would have created one earlier. • Ninety-three per cent review their financial plan at least once a year. When asked to identify the reason why they do not have a financial plan, the top reasons cited by Canadians included: • Do not have enough money to warrant a financial plan (37 per cent). • Never thought of doing a financial plan (29 per cent). • Do not know how to start the process (28 per cent). • Not sure what a financial plan involves (19 per cent). “Having a financial plan is not contingent on your income or how much you have in investments,” says Buttigieg. “A financial plan can benefit anyone who has goals which require funding and is seeking a roadmap to help achieve them.”

24 NEW HOME GUIDE | JAN 31 - FEB 28, 2014

›› COCHRANECOMMUNITIES RA

LEY D

L DR . NHIL

D 42

TRA

ER VIE

IEW CIRC

AIL

02 JUMPING POUND RIDGE

SHOWHOMES: Jumping Pound Terrace www.jumpingpoundridge.com BUILDERS: WestView Builders, Kingsmith Homes

03 SUNSET RIDGE

SHOWHOMES: Ridge View Green Sunset Way DEVELOPER: Melcor BUILDERS: Jayman MasterBUILT, Innovations by Jayman, Janssen, Calbridge, Landmark Homes, Excel Homes, Homes by Avi SHOWHOMES: River Heights Blvd., River Heights Cres. DEVELOPER: Tamani BUILDERS: Phase 3: Innovations by Jayman, Sabal Homes Phase 4: Jager Homes, Jayman MasterBUILT, NuVista Homes

RIVERV 42

SHOWHOMES: Heritage Green DEVELOPER: Harmony Park BUILDERS: Stepper Custom Homes, Trico Homes,

01 HERITAGE HILLS

NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.

RIVERHEIGHTS RISE

RIV

R RS T

E TOW

04 RIVERSONG

t. E

RAN

FOX

ILW AY ST. W.

ES DR.

GLENEAGL

GE R

RGE

. RD GE RID

GEO

GLE

W DO

W BO

1A BAIRD AVE.

r. kD tric npa Gle

RD.

ST .W .

POPE AVE.

W BO

COCHRANE 1S T.

I EV GL EA

E.R

. DR

BOW RIDGE DR.

GEORGE FOX TRAIL

ROSS AVE.

RD.

BIG HILL RD.

CHINIKI DR.

CENTRE AVE.

W. E

TR EA

R ET

TRICK GLENPA

CE RA ER .T W

NUS CMA W. M QU IGL EY DR .

RETREAT RD.

. TS DR GH HE ES GL IEW EV EA GL EN AY EA W GL EW

QUIG E RD.

W. TERRAC

BO W

AL R

OUG

. T RD REA

RET

NG ER

CD W. M

SUNSET BLVD.

4A VE

261

TW P

RIVER HEIGHTS DR.

05 MONTERRA ON COCHRANE LAKE

SHOWHOMES: Monterra Link DEVELOPER: Medallion Development Corp. BUILDERS: Prominent, Modena, Cornerstone, Brooklyn, Astoria Custom Homes

06 WESTPOINTE ESTATES

SHOWHOMES: West Pointe Manor DEVELOPER: MGM Developments. BUILDERS: Mapleland Homes, Kingsmith Homes

07 FIRESIDE

LOCATION: Cochrane DEVELOPER: La Vita Land BUILDERS: Calbridge, Janssen, Kingsmith, Landmark, Reidbuilt www.firesidecochrane.com

08 HEARTLAND

SHOWHOMES: Horse Creek Road DEVELOPER: Apex Developments BUILDERS: Excel Homes, Birchwood Properties www.heartlandcochrane.com

JAN 31 - FEB 28, 2014 | NEW HOME GUIDE 25

RANGE RD 40

HORSE CREEK RD.

//ASK AN EXPERT

MAINTAINING YOUR HOME DURING THE COLD WINTER MONTHS Q: What should I do to ensure I have a well-maintained, comfortable home during the winter months?

Q&A Q&A

ASK AN EXPERT by HEATHER RYAN

allows the warmer air in the home to get to the windows. A: Whether you’re in a new or older home, there are certain “We also recommend people turn on vent fans in the things you need to maintain to have a warm, healthy and get rid of excess moisture, and maybe environment inside while temperatures drop outside, says RonASK ANkitchen EXPERT: bybathroom HEATHERtoRYAN run them longer than usual,” he says. “Also make sure to check Heggs, director of special projects for Shane Homes. these fans and clear them of any build up of lint, so they will run “First, I recommend you check the furnace filter,” he says. more efficiently.” “The furnace will have been working hard for the past couple of Homeowners should also run their hands around their months already, so you’ll want to change or clean the filter. Also exterior doors and windows to check for any drafts or cold air check the humidifier; you may need to clean or change the leaks. You may need to repair the weather stripping, caulking or evaporator pads. “It’s also a good idea to check your hot water tank, especially the door sweep. Heggs also recommends homeowners check to see if the if it’s a few years old. Drain approximately 20 litres of water into the floor drain to remove some of the sediment from the bottom. dryer vent is clear of lint, so that it will close and help keep cold The more sediment in the tank the less efficient it will be, and by air out. As well, if your home’s furnace and hot water tank vent though the side wall, it’s important to keep those vents clear of doing this you’ll also freshen the water in your floor drain.” snow and ice. With Alberta’s cold winters it’s important to watch the For Shane homeowners, additional winterizing information humidity level in your home, Heggs says. When the temperature and maintenance videos can be found on Shane Homes’ website drops below -15 C the humidity in your home shouldn’t be in the My Home section. Home maintenance videos are also higher than 25 per cent. available publicly for all to view on Shane “On those cold winter days we suggest people open their blinds to help prevent ice build up on their windows and give the Homes YouTube channel. air a chance to move,” he says. Ice forms because of cold weather, poor air circulation and high humidity, so opening the blinds

26 NEW HOME GUIDE | JAN 31 - FEB 28, 2014

IBJ-NHBG-FP-- 7.5 x10.5 Sunset 1.21.13.pdf 1 1/21/2014 4:38:34 PM

CMY

›› AIRDRIECOMMUNITIES 01 BAYSIDE ESTATES

VETERANS BLVD

1ST AVE

SHOWHOMES: Bayside Circle SW, Baywater Crescent DEVELOPER: Genesis Land Development Corp. BUILDER: Genesis Builders Group, McKee Homes, Coco Homes, Sovereign Homes www.genesisland.com

02 WINDSONG

SHOWHOMES: Windsong Dr. DEVELOPER: Mattamy Homes BUILDERS: Mattamy Homes

03 REUNION

EAST LAKE

SHOWHOMES: Reunion Street NW. & Reunion Grove NW DEVELOPER: Hopewell Residential Communities BUILDERS: Excel Homes, Sabal Homes, McKee Homes

NOSE CREEK

04 KING’S HEIGHTS

1 YANKEE VALLEY BLVD

YANKEE VALLEY BLVD

9 2

NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.

6 4

SHOWHOMES: Kings Height Blvd. DEVELOPER: Melcor BUILDER: Jayman MasterBUILT, Loreck Homes, McKee Homes, Reid Built, Shane Homes

05 RAVENSWOOD

SHOWHOMES: Ravenswood Drive DEVELOPER: Qualico BUILDERS: NuVista, McKee Homes, Pacesetter, Broadview

06 COOPERS CROSSING

SHOWHOMES: Cooper’s Drive, Cooperstown Court DEVELOPER: Westmark Holdings BUILDERS: McKee Homes, Trico Homes, Vesta, Artigiano, Canterra Custom Homes, Crystal Creek Homes and Harder Homes

07 WILLIAMSTOWN

SHOWHOMES: Williamstown Green DEVELOPER: Vesta BUILDERS: Douglas Homes, Talisman Homes, Vesta

08 HILLCREST

Developer: Apex Developments Builders: Excel Homes, Shane Homes, Trico Homes http://hillcrestairdrie.com

09 PRAIRIE SPRINGS

Builders: Prominent Homes, McKee Homes

JAN 31 - FEB 28, 2014 | NEW HOME GUIDE 29

//In the news

Tips to find the money to begin investing today With the RSP deadline just weeks away, Scotiabank’s Annual Investment Poll found that three in 10 (31 per cent) Canadians plan to contribute to their RSP this year, a decrease from 39 per cent in both 2012 and 2011. Three-quarters of Canadians (74 per cent) who hold

RSPs, and have thought about contributing more, cite lack of affordability as the top reason for not contributing more often (84 per cent in 2012). The study also found that among Canadians who hold an RSP, 40 per cent have withdrawn funds from their RSP, up four per cent from 2012 (36 per cent). Again this year, the top reason for taking money out of RSPs is to take advantage of the Home Buyers’ Plan to buy/build a first home (16 per cent vs. 15 per cent in 2012), followed by covering day-to-day living expenses (eight per cent vs. five per cent in 2012) and paying down debt (eight per cent vs. six per cent in 2012). “With the new year underway and the RSP contribution deadline less than two months away, we want to encourage Canadians to meet with a financial advisor,” says Mike Henry, senior vice-president of retail payments, deposits and lending at Scotiabank. “RSPs continue to be an important and tax-effective way to maximize retirement savings. If affordability is an issue, a financial advisor can help identify ways to make that all-important contribution, big or small, as well as develop a financial plan to help achieve retirement goals.”

RSP contribution tips: » Talk to your financial advisor to make a plan to find out what works best for you for both long and short-term financial goals. » Set-up pre-authorized contributions, such as Scotiabank’s Pay Yourself First plan, that let you make regular and automatic contributions from your bank account directly into your RSP. Start with a small amount and adjust it depending on your financial situation. » Spousal RSPs can be an effective tool in planning for retirement, giving you the ability to contribute to your spouse’s RSP, realize income splitting opportunities and potentially reduce your family’s overall tax burden. » Consider borrowing to top up any unused contribution room and maximize your RSP, as the contribution may generate a tax refund that can be used to pay off the loan. The Scotia RSP Catch-up Line of Credit, for example, is an opportunity to maximize both your current and previous years’ contributions. Take advantage of online tools to help you get started with your investment planning. Scotiabank’s Investment Centre can help you find out where you are in planning for retirement.

30 New home Guide | JAN 31 - feb 28, 2014

Get the quality renovation you expect from the name you trust. For a better renovation experience, put the professionals in your corner. 1

WHOLE HOME RENO FROM $75,000

BATHROOM RENO FROM $15,000

BASEMENT DEVELOPMENT FROM $30,000

WHOLE HOME RENO FROM $75,000

CALL FOR A FREE IN-HOME CONSULTATION 403.258.1511

//showhome review

Shane Homes’ Orion in King’s Heights a must-see » by Heather Ryan

ituated in one of Airdrie’s most desirable communities and offering a wide selection of home styles and lot types to choose from, new-home buyers will want to put a visit to Shane Homes in King’s Heights high on their must-see list. “There are more than a dozen terrific models that people can build with Shane Homes in King’s Heights,” says Cindy Klassen, co-area manager with Karen Kotchar, noting the homes offer incredible standard features, stylish designs and numerous optional layouts to suit the needs of differing buyers. “We are currently building in three phases, so people can choose from a wide range of lots,” she says. “We recently released lots in Phase 18, and we’re getting a lot of interest from buyers because we have quite a few that back onto greenspace and water and many have west facing backyards. We also have a good selection of walkout and pie-shaped lots; really there is something for everyone and the price point is incredible.” Among the models offered in King’s Heights the

32 New home Guide | JAN 31 - feb 28, 2014

showhome, the Orion, is a 1,964-sq.-ft., two-storey with front double attached garage and it is one of Shane Homes most popular homes. “People love the functional, comfortable design and they really love the decor in the showhome; it’s very eye-catching and a number of buyers are duplicating it completely,” Klassen says. “We get lots of positive comments about the kitchen, which is perfect for those who love to cook, and visitors love the ensuite and the built-in entertainment centre in the bonus room.” The kitchen serves up gorgeous light-toned granite counter tops that are beautifully offset by dark cabinets, a cool tile backsplash with decorative inlay, stainless steel appliances and a large granite-topped level island that offers ample space for food prep and breakfast bar seating. The great room is highlighted by a corner fireplace surrounded in tile, and the main floor also features a sunny dining nook, walk-through pantry, which leads to the mudroom and garage entry, and a convenient half-bath.

Shane Homes | King’s Heights

“People love the functional, comfortable design and they really love the decor in the showhome; it’s very eye-catching and a number of buyers are duplicating it completely.”

Upstairs, the owners’ suite presents a spacious retreat and a luxurious ensuite featuring a granite-topped vanity with dual sinks, corner soaker tub, separate granite-topped make-up vanity, walk-in shower and a large walk-in closet. Also on the second level are two good-sized bedrooms, a full bath, laundry room and a bonus room that impresses visitors with a wall-to-wall entertainment centre. Klassen says two new showhomes are currently under construction in Phase 18 – the Orion II and the Andorra II – which are expected to open March 1st. “These are two very different showhomes and they’re going to be stunning.” Kotchar, who lives in King’s Heights, says “it’s a very nice family-friendly community where you can get to know your neighbours; it has that peaceful small town feel, yet you’re close to all the amenities you want.” It’s also well-designed with parks, pathways, canals, a future school site and off-leash dog park and is within walking distance to the Kingsview Market, which has a grocery store, coffee shops, restaurants and services, and it’s minutes from CrossIron Mills mall. “King’s Heights is also a great value; you can get the same size home or larger for less money in Airdrie than Calgary, yet you’re a quick commute to the city,” she says. For more information on the Shane Homes models and lots available in King’s Heights, visit the Orion showhome, at 1187 King’s Heights Rd. S.E., open Monday to Thursday, 2 to 8 p.m., and weekends noon to 5 p.m. Call 403.536.2303 or visit shanehomes.com JAN 31 - feb 28, 2014 | New home Guide 33

Old World Traditions

MODERN LIVING WWW.NOLANHILLSHOWHOMES.COM

rth

NEY TRAIL TO

09 EVANSVIEW BE

AI Y TRAI L

COACH

GT ON

TR SH AG ANNAPI HN

LA UR

64 AV

BL VD .

14 STREET

CENTRE STREET

NOS EH

ILL

SA RC EE

DT RA IL

NOSE HILL PARK

AVE NU E

STO NE

NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.

BANFF

CH IL

18 16 AVENUE

ROAD

NOTE: Map is just a graphic representation of areas of developments. 17 AVENUE

17 AVENUE

37 STREET

SARCEE TRAIL

69 STREET

01 PANORAMA HILLSproject for more details. 04 SAGE HILL See ad of a particular

10 Hanson Ranch

SHOWHOMES: Sage Hill Point NW, Sage Valley Park NW, Sage Hill 11 Milano Green NW Showhomes: 99 Panatella Hill NW BUILDERS: Excel Homess, Trico Builders: Trico Homes Homes, Morrison Homes, Discovery Homes, Baywest Homes, Homes by Avi

02 ROYAL OAK 05 NOLAN HILL Showhomes: Hidden Creek Blvd. NW

DEVELOPER:Developer: Birchwood Properties DEVELOPER: United Communities Cedarglen Homes | Cardel Homes esis Land Development Corp. | BUILDERS: Birchwood Properties BUILDERS: Homes by Avi, Morrison x Developments Builders: Genstar Homes, Shane Homes, Sterling on Homes | Majestic Homes | 03 EVANSTON Homes, Today’s Homes, Trico Homes, Homes | Centrex Homes SHOWHOMES: Evanspark Circle NW DEVELOPER: Qualico BUILDERS: Broadview, NuVista, Trico Homes, Pacesetter Homes, Sterling Homes, Jayman MasterBUILT

SHOWHOMES: 8 Evansview Manor DEVELOPER: Genstar BUILDERS: Cardel Homes, Acuri Homes

SHOWHOMES: Sage Meadows Circle NW DEVELOPER: Genesis Land Development Corp. BUILDERS: Genesis Builders Group, Passion Homes, Reid Built Homes, Today’s Homes www.genesisbuildersgroup.com

11 VALLEY POINTE ESTATES

DEVELOPER: Melcor BUILDERS: Shane Homes, Reid Built Homes, Landmark Homes, Homes by Avi

12 BEARSPAW WILLOW CREEK

BUILDERS: Astoria Custom Homes, Hyatt Homes, Laratta Homes, Mckinley Masters Custom Homes

13 WATERMARK AT BEARSPAW

BOW TRAIL

SHOWHOMES: Panatella Blvd. NW, Panatella Square NW, 9 CityLife Panora Way NW Showhomes: 2003 20th Ave. DEVELOPER: Genstar Developer: Birchwood Properties BUILDERS: Homes by Avi, Cardel Builders: Excel Birchwood Properties Homes, Landmark, Homes, Arcuri Homes

SHOWHOMES: 150 Kincora Glen Rd. DEVELOPER: Melcor BUILDER: Excel Homess

10 SAGE MEADOWS

85 STREET

OL D

TR AIL

E DR IV

RAIL YT

CR OW

SHOWHOMES: Tuscany Estate Rise NW DEVELOPER: Brookfield Residential BUILDERS: Albi Homes www.tuscany-community.com

08 KINCORA

HILLS BLVD.

EST HILLS

RV HA

TRAIL

EE SAR C

Y NTR COU

S TONE

12 COULEE MILE ROAD

PANORAMA ROAD

ROCKY RIDGE ROAD

WOODLAND ROAD

BEARSPAW ROAD

9 A

5 Kinkora Glen Rd. NW

scany Estates Rise NW ma ark Homes | Albi Homes

15 16

SYMONS VALL

llside Estates

COUNTRY HILL S BLVD.

LV R ID GE D

14 10

AIL TR

gulf Cidex Homes/Intergulf Cidex

128 AVE.

AIL

erwood Crescent NW

PI AP

ghts

AN AG SH

esis Development Corp. ic Homes

HW Y

07 TUSCANY HILLSIDE ESTATES

144 AVE. NW

ROCKY B

28 Sherwood Blvd.

›› NORTHWESTCOMMUNITIES

Creations by Shane Homes, Jager Homes www.nolanhillunited.com

06 BEACON HEIGHTS

SHOWHOMES: Sherwood Crescent NW DEVELOPER: Intergulf Cidex BUILDER: Trico Homes, Intergulf Cidex

DEVELOPER: Macdonald Development Corporation BUILDERS: Astoria Homes; Albi Homes, Trickle Creek Homes, Wolf Custom Homes www.watermarkatbearspaw.com

14 EVANSRIDGE

DEVELOPER: Dundee Developments BUILDERS: DS Homes, Homes by Avi, Genesis Builders Group, Landmark Homes, Morrison Homes, Innovations by Jayman, Westview Builders, Stepper Custom Homes, Calbridge Homes, Excel Homes

15 ROCK LAKE ESTATES

DEVELOPER: Decker Management BUILDERS: Ashton Custom Homes, Crystal Creek Homes, Lupi Luxury Homes

16 ROCKFORD ESTATES - TRAIL’S END BUILDER: Jager Homes

17 SHERWOOD

DEVELOPER: Melcor BUILDERS: Shane Homes, Homes by Avi, Genesis Builders Group

18 MOUNT PLEASANT

SHOWHOME: 2220-5th St. NW BUILDER: Landmark Homes www.landmarkgroup.ca

JAN 31 - FEB 28, 2014 | NEW HOME GUIDE 35

//In the news

Canada to benefit from a strengthening U.S. economy in 2014 RBC Economics After another year of mediocre growth, Canada’s economy is expected to perk up in 2014, supported by a pick-up in exports and strengthening business investment, according to the latest Economic and Financial Market Outlook from RBC Economics. RBC is forecasting real GDP growth of 1.7 per cent for 2013, 2.6 per cent in 2014 and 2.7 per cent in 2015. “The U.S.’s slow and subpar recovery has no doubt played a part in the underperformance of Canadian exports through 2013,” says Craig Wright, senior vice-president and chief economist, RBC. “Looking ahead to 2014, we anticipate that stronger growth south of the border will translate to increased demand for Canadian exports, especially as the expansion fans out and business investment accelerates. This expected uptick in both exports and business investment is a critical component of our outlook for Canada’s economy.” The report indicates that strong exports relative to imports in 2014 will result in trade contributing more than it has in a decade to Canada’s annual growth rate. RBC anticipates that this will cause a rebound in investment activity particularly in the manufacturing and mining and oil and gas sectors. Extra support to external trade will come from a weakening Canadian dollar over the course of next year, says RBC. The softer currency reflects a leveling off in commodity prices alongside a generally firmer tone for the U.S. dollar. RBC also assumes that neither the Bank of Canada nor the Fed is likely to adjust the overnight policy rate in 2014, meaning short-term interest rate spreads will hold steady. Longer-term yields on government bonds, however, are likely to rise in line with the gradual, upward shift in U.S. treasury yields; RBC indicates that the pace of increase will be gradual enough to ensure that the economy doesn’t falter and that the Canadian housing market stabilizes.

36 New home Guide | JAN 31 - feb 28, 2014

Canada’s labour market has been resilient with 148,000 jobs created so far in 2013 and the unemployment rate falling to a cycle low of 6.9 per cent, RBC says. This increase in employment has driven up wages by close to 2.0 per cent on average so far this year while inflation has only increased at an average 0.9 per cent pace. As labour markets tighten further, wage pressures are expected to have a greater upward impact on inflation through the forecast moving it closer to the Bank of Canada’s 2.0 per cent target rate. RBC notes that real wage gains will continue to fuel consumer spending going forward. “Rising incomes and improving household balance sheets will be the key factors supporting consumer spending which we expect to grow by 2.5 per cent in 2014, up from 2.2 per cent this year,” adds Wright. On the provincial front, RBC says that an improvement in underperforming provincial economies will be reflected in Canada’s real GDP growth rising in 2014. The country will continue to see the west out-performing the east with the dividing line shifting slightly east to the OntarioQuebec border.

//MAKE YOUR MOVE

BLIZZARDS, BLACK ICE

and moving » by CHUCK RESNICK

Moving when ice and snow are in the daily forecast isn’t a popular choice for many Canadians. It’s cold and

CHUCK RESNICK

is vice-president of marketing and operations, Two Men and a Truck Canada. twomenandatruck.ca

slippery; but with some extra safety precautions, winter moving also has many advantages. Moving last minute? No problem, if it’s during the cold months. Choosing to move in the “off season” – sometime between November and March – can save you time and money. Summer is the busiest season for moving companies. Th is means you must be well prepared, booking six to eight weeks in advance to ensure your preferred moving company is available. Not only are they higher in demand but generally their rates are also more expensive. Some companies may be more willing to negotiate their rates during the winter months as they’re competing for business during the slow season. Likewise, less rush and stress for companies in the winter means you get their best employees resulting in a higher quality of service. With everything booked, now comes the packing. Follow these tips for a relaxed and toasty move – no matter what’s going on outside those frosted windows. ›› Have a contingency plan. Keep up to date with local weather forecasts and change your plans accordingly. If a big snowfall or freezing rain is expected the morning of your move day, don’t risk it.

Keep cosy. Carry extra warm clothes for you and your family – including hats, gloves and snow pants. Pack these ahead of time and clearly label them so you can locate them immediately. ›› Keep cosy. Carry extra warm clothes for you and your family – including hats, gloves and snow pants. Pack these ahead of time and clearly label them so you can locate them immediately. ›› Remember your items will be in a non-heated environment for a while. Ensure your plants, electronics and liquids are properly packed and protected from the cold. ›› Allow extra time on the move day – cold weather slows things down. Additionally, rushing in the winter can lead to accidents and injuries.

38 NEW HOME GUIDE | JAN 31 - FEB 28, 2014

›› Have driveways and sidewalks cleared of snow before the movers arrive. Your driveway needs to be ploughed wider than usual – enough to allow the moving truck’s loading ramp to be positioned as close to your front door as possible. Lay plywood down on muddy or slushy areas. Slipping can not only lead to dropped boxes and broken possessions but also personal injury. ›› Quality movers will use floor runners to protect your floors in high traffic area but for extra protection inside, cover your floors to protect them from tracked-in snow, mud and salt. ›› Drive safe. Make sure maintenance and service on your vehicles is current. Check the air pressure on your tires and ensure the trunk is equipped with emergency kits (matches, flashlight, food), blankets and shovels. Drive slowly with extra caution. ›› Be certain that your heating company for your new home is aware of your move in day. Wintertime moving doesn’t have to be wet and miserable. With these reminders, you’ll be packed up, moved and basking in the warmth of your new home before you know it.

›› CALGARYREGIONSOUTH 1A

COCHRANE

STRATHMORE

CALGARY

CHESTERMERE 797 LANGDON

22X

PRIDDIS

TURNER VALLEY

HERITAGE POINTE

BLACK DIAMOND OKOTOKS

543 22

HIGH RIVER HIGHWOOD LAKE

SHOWHOMES: 1901-1903 Riverside Dr. NW DEVELOPER: WestView Builders BUILDER: WestView Builders

HAMPTON HILLS

BUILDERS: WestView Builders

MONTROSE

SHOWHOMES: Montgomery Way SE and Montrose Terrace DEVELOPER: Dundee Developments BUILDER: Lifestyle Homes, Red Door Homes

PRIDDIS HAWKS LANDING

DEVELOPER: Hopewell Residential Communities BUILDERS: Prominent Homes, Baywood Estate Homes, Trickle Creek Custom Homes, Wolf Custom Homes, Thompson Luxury Homes, Bradmar Homes, Baywest Homes www.hawkslanding.ca

HIGH RIVER

BLACK DIAMOND RIVERWOOD

SHOWHOMES: 725 and 821 3rd Street SW DEVELOPER: Riverwood Estates Inc. BUILDERS: Sheep River Homes, Woodmaster Homes

RIVERWOOD ESTATES

BUILDERS: Compass Rose Homes, Sheep River Homes

HERITAGE POINTE ARTESIA AT HERITAGE POINTE

DEVELOPER: Heritage Pointe Properties Inc. BUILDERS: Astoria Custom Homes, Albi Homes, Calbridge Homes www.liveatartesia.com

JAN 31 - FEB 28, 2014 | NEW HOME GUIDE 39

W SHO O WH P E OM N ES !

EE R

STOP KISSING FROGS It’s time to meet your proverbial prince… At long last, you’ve found what you’ve been seeking: a quality community where it’s possible to buy a brand new home AND enjoy the schools, parks, shops and recreational amenities of an established neighbourhood. The final two phases are now selling, so you still have time (if you hurry!) to build a new home and become part of Okotoks’ newest “old” community as well known for its conservation commitments as its family-friendly amenities. visitdrakelanding.com for directions and tour a showhome today.

HOMES FROM THE $400s LIFESTYLE HOMES | PROMINENT HOMES | STERLING HOMES

40 40

DRAKE LANDING | FOREST CROWNE | NOLAN HILL THE RANCH | SAGE HILL | SILVERADO

WWW.UNITEDCOMMUNITIES.COM

NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.

OKOTOKS AIR RANCH

YSTAL SH OR ES RD.

BANN

ISTER CR GATE

ID GE D

SANDSTONE DR. MOUNTAINVIEW GATE

338 AVE. E.

NO RT HR

1 7

OKOTOKS

549

CRYSTAL RIDGE GOLF CLUB

MILLIGAN DR.

3 32 ST. E.

WEST

370 AVE. E.

SHOWHOMES: Ranchers Crescent DEVELOPER: Bordeaux Developments BUILDERS: Baywest Homes, Sterling Homes, Wolverine Custom Homes

02 CIMARRON

DEVELOPER: Tristar Communities BUILDERS: Excel Homes, Trico Homes, Cedarglen Homes, Coco Homes, Today’s Homes, California Homes, Assured Homes

03 DRAKE LANDING

SHOWHOMES: Drake Landing Way, Drake Landing Crescent and Drake Landing Hill DEVELOPER: United Communities BUILDERS: Lifestyle Homes, Morrison Homes, Sterling Homes, Prominent Homes

RO N TR A I L

32 ST. E.

WESTLAND ST.

01 OKOTOKS AIR RANCH & RANCHERS’ RISE

CIMA

O RR

6 4

SOUTHRIDGE DR.

WESTLAND ST.

D R.

CIMARRON BLV D.

DG E

CIM

›› OKOTOKSCOMMUNITIES

LVD.

04 WESTMOUNT

SHOWHOMES: Westland Street DEVELOPER: Prominence Development Corp. BUILDERS: Jager Homes, Reid Built Homes, Sterling Homes, WestView Builders

05 EAGLE CREST

SHOWHOMES: Directly behind Westmount DEVELOPER: Prominence Development Corp. BUILDERS: Carpenter Homes

07 CRYSTAL RIDGE

SHOWHOMES: Crystal Green Dr. DEVELOPER: United Communities BUILDERS: Sterling Homes, Baywest, Crossley Homes

08 MOUNTAINVIEW

(NOW OPEN) AT SANDSTONE DR. & MOUNT BURNS GREEN Apex Developments BUILDERS: Excel Homes, Sterling Homes www.mountainviewokotoks.com

06 THE HILL IN WESTRIDGE SHOWHOMES: Westridge Road DEVELOPER: Qualico BUILDERS: Sterling Homes

JAN 31 - FEB 28, 2014 | NEW HOME GUIDE 41

SAVE $4 BUY TICKETS ONLINE PROMO CODE: GUIDE

*ON REGULAR ADULT ADMISSION

PRODUCED BY

OLD

BAN

14 STREET

CENTRE STR

›› SOUTHWESTCOMMUNITIES 8 COACH ROAD

05 SPRING VALLEY ESTATES

SHOWHOMES: 16 Spring Valley Land SW BUILDERS: Tudor, Legend Developments, Elegant

06 CRESTMONT

16 AVENUE

SHOWHOMES: 53 Crestridge View SW DEVELOPER: Qualico BUILDERS: Augusta Fine Homes, Jaymack Custom Homes

MEM

ORI

08 COULEE WAY ESTATES

DEVELOPER: Coulee Way Developments BUILDER: Christal Homes www.couleewayestates.com

BLACK FOOT TRAIL

ELBOW DRIVE

10 ELMONT BAY

BUILDERS: Westview Builders, Winwood Homes Showhomes Coming Soon www.elmontbay.com

GLENMORE RESERVOIR

11 SEQUOIA IN SILVERADO

MACLEOAD TRAIL

NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.

SOUTHLAND DRIVE

DEVELOPER: Qualico Communities SHOWHOMES: Silverado Plains Circle BUILDERS: Broadview Homes, NuVista Homes, Sterling Homes

12 DRESSAGE IN SILVERADO BOTTOM TR

24 STREET

ANDERSON ROAD

MCKEVITT

BUILDERS: Prominent Homes, Crystal Creek Homes, Lupi Luxury Homes, Augusta Fine Homes

MA CLE

JAMES ET

37 STRE

16 ASPENSHIRE

SHERIFF KING STREET

BUILDERS: Prominent Homes

TRA

S PRUCE MEADOWS HWAY

01 EVERGREEN

13 WESTLAND ESTATES

15 WEST GROVE ESTATES

SHAWNESSY BLVD.

162 AVENUE

11 3 12

DEVELOPER: Qualico Communities SHOWHOMES: Showhomes Coming soon BUILDERS: Baywest Homes, Augusta Homes

BUILDERS: Baywest Homes, WestView Builders www.westlandestates.ca

FISH CREEK PARK FISH CREEK BLVD

07 PASKAPOO IN COUGAR RIDGE DEVELOPER: Apex Developments BUILDERS: Excel Homes www.paskapooatcougarridge.com

17 AVENUE

37 STREET

17 AVENUE

SARCEE TRAIL

69 STREET

14 AVENUE SW

85 STREET

BOW TRAIL

SHOWHOMES: Everbrook Dr. SW DEVELOPER: Genstar BUILDERS: California Homes

02 CURRIE BARRACKS

SHOWHOMES: J5 2953 Battleford Ave. BUILDERS: Birchwood Properties, Crystal Creek Homes, Home by Avi, Empire Custom Homes, Mission Homes, Greenboro Estate Homes, Greenboro Luxury Homes, Evolution by Greenboro, and Avi Urban

03 SILVERADO

SHOWHOMES: Silverado Drv. SW, Silverado Skies SW, Silverado Blvd. SW DEVELOPER: United Communities BUILDERS: Baywest Homes, Homes by Avi, Sterling Homes, Pacesetter Homes, Trico Homes, Avi Concept

JAN 31 - FEB 28, 2014 | NEW HOME GUIDE 43

//MORTGAGE INTELLIGENCE

SUPERSIZE YOUR

Mortgage payments According to a recent RBC Home Ownership survey, 65 per cent of Canadian homeowners are worried about mortgage rate increases, and 56 per cent admit that their mortgage is higher than they expected.

“Flexible payment options can help take some of the guesswork out of interest rates increases,” says Marcia Moffat, RBC head of home equity financing. “Speaking with a mortgage specialist and making a few simple changes can help you save thousands on interest costs as well as take years off your mortgage.” Here are a couple of tips to help you pay off your mortgage even faster. » Make annual mortgage payments on the principle. Many mortgages allow you to make a lump sum payment once every 12 months or at renewal time, which is applied directly to the principal. If you come into a large sum of money through an inheritance or bonus, consider making a prepayment, which can shave years off your mortgage. » If you double up your payments once per year for 25 years, on a $250,000, 25-year mortgage at five per cent interest, you can save more than $30,000 and shave 3.5 years off your amortization term. » Switch to a bi-weekly mortgage payment schedule. Changing to an accelerated bi-weekly payment can be an easy adjustment that will help you save on mortgage interest. The bi-weekly accelerated payment works to help you pay down your mortgage faster as you actually end up making 26 bi-weekly payments a year versus 12 monthly payments. Th is adds up to one extra monthly payment every year.

For more information, visit rbcroyalbank.com 44 NEW HOME GUIDE | JAN 31 - FEB 28, 2014

Unlock the power of mortgage pre-approval So, you’ve decided to take the plunge into home ownership and start searching for your first home? Make sure you have your financing in order before you start your search. “Having a mortgage pre-approval is a critical component of buying a home, particularly for younger homebuyers,” says Marcia Moffat, RBC head of home equity fi nancing. “It presents you as a serious purchaser to both realtors and sellers.” Pre-approvals have no obligation and help lock in your interest rate. It also clarifies your budget and sets your expectations accordingly so you’re not wasting your time viewing houses that are beyond your budget. With a pre-approved mortgage you will know what you can afford right away. On top of the pre-approval amount, consider your lifestyle preferences and how future cost increases may impact your payment comfort zone.

›› CALGARYREGIONEAST CHESTERMERE CHESTERMERE

NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.

WESTMERE

STRATHMORE

22X

22X HERITAGE POINTE

04 B UFFALO HILLS (coming soon)

UILDERS: Prominent Homes B Douglas Homes, Klair Custom Homes Prominent Homes, Mapeland Homes

LAKEPOINTE

OKOTOKS

DEVELOPER: Mattamy Homes BUILDER: Mattamy Homes Sales centre 400 Westpark Dr.

1 AV. N

3 ST. E

2 AV. N

RAILWAY AV.

2 AV. S

1 AV. S

ULM ST.

McCANN ST.

CENTRE ST.

RAILWAY CR. RAILWAY AV.

HANSON HOLLOW

HANSON DR.

HANSON WAY

DOUGLAS AV. COLWELL ST.

NEWTON ST.

2 AV. N

LAGDON ODDFELLOW HALL

WHITNEY ST.

COPELAND AV.

WENSTROM CR.

LANGDON PARK

DEVELOPER: Harmony Park BUILDERS: Stepper Custom Homes, Carpenter Homes

02 H ANSON PARK

WELSHIMER CR.

CRILLY CL.

MAIN STREET LAGDON VANDERVELDE PL.

COPELAND AV.

WILSON RD.

BOTSFORD ST.

BARBER ST.

THOMAS ST.

LANGDON SCHOOL

ANDERSON AV.

LLOYD CR.

CENTRE ST.

BRANDER AV.

HENDERSON BY. HENDERSON RD.

HENDERSON CL.

NESBITT AV.

MCDOUGALL ST.

BESSE AV.

COWAN ST.

TRAIL NESBITT CL.

MOE AV.

McKINNON ST.

01 B OULDER CREEK

GLENMORE

RAILWAY AV.

HIGH TRAIL RIVER

1AV.

LANGDON

797

WILSON RD.

560

RGE RD 27

543 22

KINNIBURGH

DEVELOPER: Pollyco Developments BUILDERS: Stepper Custom Homes, Canterra custom homes, Sterling Homes, Lifestyle Homes, Douglas Homes, Westridge Homes, Broadview Homes

BLACK DIAMOND

ARBOGAST ST.

VALLEY

SHORES ON WESTMERE

DEVELOPER: Melcor BUILDERS: Homes by Avi, Albi Homes

CHESTERMERE 797 LANGDON

IDDIS

DEVELOPER: Melcor BUILDERS: Landmark Homes, Lifestyle Homes, Reid Built Homes

CALGARY

SHOWHOMES: 80 Westpark Crt., Rainbow Falls Manor DEVELOPER: Truman Developments BUILDER: Jager Homes, Lifestyle Homes, Beattie Homes, Lionsworthe Homes, Douglas Homes

DEVELOPER: Hanson Park Developments BUILDERS: Canaco Homes Ltd, Ovation Homes Ltd, Stepper Custom Homes Ltd, Douglas Homes

STRATHMORE T HE RANCH IN STRATHMORE

SHOWHOMES: 200 Ranch Downs DEVELOPER: United BUILDERS: Lifestyle Homes

WILDFLOWER RANCH IN STRATHMORE

DEVELOPER: Cancorp Property Group Inc. BUILDERS: Carpenter Homes, Paradyme Homes, Aquilla Homes and Canterra Custom Homes

LYALTA 03 T HE LAKES OF MUIRFIELD

SHOWHOMES: Muirfield Blvd. BUILDERS: Douglas Homes, Today’s Homes, Ribero Homes and Compass Rose Homes

JAN 31 - FEB 28, 2014 | NEW HOME GUIDE 45

//mortgage mogul

Minimal down payment is still an option Âť by JASON ELDRIDGE

With the changes imposed by the Federal Government last year which saw the elimination of cashback offerings that lenders had in place for clients who did not have the traditional five-per-cent minimum down payment, we thought that first-time homebuyers would find it more challenging to qualify for their purchase.

Thankfully, there is a program that is offered locally that allows future homeowners the opportunity to purchase a home with a minimal down payment. For those potential homebuyers looking to purchase a brand new home, and who have a minimum of $3,000 saved, you may want to consider the Calgary Attainable Home program. This company is currently building in various areas of the city, and is offering multiple bedroom, apartment style condominiums and townhomes. In order to qualify for this program, there are three main criteria all applicants must meet. Firstly, you should have stable

For those potential homebuyers looking to purchase a brand new home, and who have a minimum of $3000 saved, you may want to consider the Calgary Attainable Home program. employment, and your combined annual income cannot exceed $90,000 per year. Secondly, each applicant must have good credit. In order to meet the minimum credit requirement, each applicant must have at least two credit trade lines. This can be any combination of credit cards, personal loans, lines of credit and vehicle loans. It is recommended that each credit facility should have been open for at least one year, in good standing, and the minimum credit limit or starting amount (in the case of a loan) has to be $1,500. Keep in mind that often there are exceptions to these rules. Lastly, you will need to have saved a minimum of $3,000 from your own resources in order to purchase a home through this program. Of that amount, $2,000 goes towards your down payment, and $1,000 is used for the legal fees to complete the legal aspect of the purchase. When you consider that the average home price in Calgary is roughly around the $400,000 range, and under normal circumstances you would need to have at least $20,000 saved 46 New home Guide | JAN 31 - feb 28, 2014

from your own resources in order to qualify for this purchase under standard lending policies, the Calgary Attainable Homes program is an excellent way to get that first start at homeownership. As always, I welcome any questions or comments you may have regarding the information contained in my articles. Until next monthâ&#x20AC;Ś

Jason Eldridge

P.F.P, B. Admin Mortgage Specialist, Axiom Mortgage Solutions (formerly Unisource Mortgage) Cell 403.630.1718, Fax 866.708.5807 Email jason@axiommortgage.ca Web/apply online jason.axiommortgage.ca

homebuyers’ help//

Homebuyers’ Resource Section You love the home, see what you can afford! » Compare mortgage rates for your best deal

» Calculate your mortgage payments using the mortgage payment calculation chart

//homebuyers’ help

Calculate your mortgage payments MORTGAGE PAYMENT CALCULATION CHART

Calculate your mortgage payments monthly Pre-Tax Income

divide by 3

chart figure

amortization amount

Spouse’s pre-tax income

affordable monthly payments

amount of mortgage divided by 1,000

estimated monthly taxes & heat

Interest Rates %

total Pre-tax income

amount of mortgage (price – down payment)

amortization amount

monthly payments

Amortization Periods

5 yrs

10 yrs

15 yrs

20 yrs

25 yrs

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

Follow these steps to see if you’ll qualify for a mortgage on your dream home

01 02 03

Calculate the combined monthly before-tax income of you and your spouse. Divide by three. This figure is the monthly payment you can afford to make on your home. Take the total price of the home and subtract the amount of money you expect to make as a down payment. This is the money you will have to borrow.

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

06 07

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

Multiply this figure by the amount you need to borrow. Divide by 1,000. » 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 andget pre-qualified.

48 New home Guide | JAN 31 - feb 28, 2014

Mortgage interest rates

VARIABLE 6 month

1 year

2 years

3 years

4 years

5 years

ATB Financial

2.700

4.000

2.940

2.890

3.190

3.590

3.790

Bank of Montreal

3.000

4.000

3.140

3.950

4.740

5.340

Bank of Nova Scotia

3.100

4.550

3.750

3.890

3.990

4.390

4.990

CIBC Mortgages

3.000

4.450

3.090

3.140

3.950

4.590

5.340

Canadian Western Bank

3.200

4.000

3.140

3.950

4.540

5.340

Canadian Western Trust

3.200

4.000

3.140

3.950

4.540

5.340

First Calgary Financial

4.000

2.890

3.190

3.390

3.790

First National Financial

2.600

3.950

2.990

2.790

3.090

3.390

3.690

HSBC Bank Canada

3.100

4.450

3.600

3.950

4.450

4.990

5.340

ING Direct

3.000

3.190

3.240

3.590

3.690

4.090

Investors Group Trust

3.000

4.200

3.140

3.950

4.690

5.340

Laurentian Bank Canada

3.200

4.400

3.140

3.190

3.950

4.740

5.340

London Life

3.000

4.200

3.140

3.950

4.690

5.340

Manulife Bank

2.800

4.450

3.000

3.250

3.400

3.500

3.790

Manulife Trust

4.450

3.000

3.250

3.400

3.500

3.790

National Bank

3.100

4.400

3.140

3.950

4.740

5.340

4.500

3.150

3.500

3.950

4.150

President’s Choice Fin’l

3.000

6.040

3.240

3.590

3.690

4.090

RMG Mortgages

3.000

2.890

2.990

3.090

3.590

Royal Bank of Canada

3.000

4.000

3.140

3.850

4.740

5.340

Servus Credit Union

4.000

3.140

3.950

4.740

5.340

Steinbach Credit Union

2.600

2.800

3.000

3.150

3.350

3.000

4.000

3.090

3.140

3.950

4.740

5.340

3.400

3.500

3.600

3.690

3.590

Mortgage Types All mortgages are of two basic types: Conventional The buyer can borrow up to 80% of the purchase price or the value of the property, whichever is less. The buyer has to pay 20% down. A conventional mortgage cannot exceed 80% of the value of the property. Insured or High-Ratio: A buyer can borrow up to 95% of the purchase price or the value of the property, whichever is less. The down payment can be as low as 5%.

Mortgage OPTIONS

Peace Hills Trust

T-D Mortgage Your Neighbourhood C.U.

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. Open mortgage: Allows borrowers 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. Closed mortgage: Usually has the lowest interest rate available but lacks the flexible features of other mortgage options. 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: 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.

Prepared by CANNEX on October 31, 2013. This information is current as of the date and time posted and is subject to change without notice. © Copyright 2013 CANNEX Financial Exchanges Limited. All rights reserved.

JAN 31 - feb 28, 2014 | New home Guide 49

//the homebuying process

The importance of choosing the right place to live » by Donna Moore With the start of a new year, many people will likely be thinking about buying a new home this spring, which means venturing out to showhomes to see the latest designs, and driving around the newer communities to check out amenities.

Donna Moore

Executive Officer, Calgary Region Home Builders’ Association 403.235.1911 crhba.com

Buying a new home is a big decision and an important investment, and there is a lot to consider before you buy. You want to buy with confidence, enjoy the experience and know that you have made the best decision for you and your family. One of the biggest decisions you’ll have to make – even before you decide on a particular home style and builder – is determining where you want to live. With so many fabulous new communities being created in the various areas of the city and in the neighbouring municipalities, you’ll have a tough decision ahead while trying to determine what will work best. Sit down and discuss with everyone in your household what they’d love to have for a yard, local amenities and overall location – whether it’s in the city or out of town. When considering yards, various communities offer different size lots and different locations that offer other benefits, such as corner lots, walkouts, those backing onto greenspace or environmental reserves and those overlooking

When looking at the location, think about the community, the distance to work, traffic and availability of public transportation and major transportation routes. ponds or by the lake. You can find a lot that is big enough to build a three-car garage with a big yard where the kids and dog can play, or you may want a smaller lot that will require less maintenance. If you’re a first-time homebuyer, you may be seeking affordability that a zero-lot line can provide, or you may want a condo or townhouse to enjoy a maintenance-free lifestyle. When looking at the location, think about the community, the distance to work, traffic and availability of public transportation and major transportation routes. Would you be fine with a daily commute into the city or do you want to live closer to work that’s an easy drive or bus ride away? Do you lack a car and need to be close to an LRT or on a major bus route? How important is it to you to choose a community that puts your home within walking or cycling distance from your work? 50 New home Guide | JAN 31 - feb 28, 2014

If you’re a parent, how far do you want to live from schools and child care? And what about places of worship, recreation centres, libraries – are they important to have close by? What about the distance to shops, services, schools, medical centres or hospitals and other amenities you desire? And how important to you is the distance to greenspaces, pathways, parks, tot lots and sports fields? When you’re driving through new communities, ask yourself if you can see you and your family living there and enjoying what the community has to offer. Living in a community that provides an opportunity for your family to connect with your neighbours, where you can meet socially in central parks or at community centres, may be a priority for you. In your travels, you’ll also discover that many residential land developers are dedicated to creating mixed-use communities where people can live, work and play, and master-planned communities that offer all types of housing for everyone from first-time buyers to empty nesters. Having proximity to shopping and major routes also factors in when looking to buy. Many newer communities already offer a wide range of shops, services, grocery stores and restaurants. And many also offer convenient access to the Deerfoot Trail or Stoney Trail for ease of getting around the city and commuting to work. No matter what your priorities are, it all comes down to finding a place to live that meets the needs of you and your family. Finding the right community and the right location is just as important as finding the right home and the right builder.

IN THE MARKET FOR A

NEW HOUSE

OR A CONDO?

We think ﬁnding a home is a lot more than simply ﬁnding the right property. That’s why we put you right in the middle of the search process.

Search your favorite neighbourhood

Find out about nearby services and amenities

View new construction projects and register to get the latest info

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

canpages_filler_VF.indd 1 051-Canpages.indd 51

13-02-26 4:50 PM 2014-01-22 4:32 PM

mattamyhomes.com

10 Things To Enjoy In Southwinds In Airdrie.

1 Abundant park spaces throughout the community.

2 Neighbourhood playgrounds where you can hear children’s laughter daily.

6 Community events all year ‘round.

7 Natural wetlands to enjoy.

3 4 Walking trails and natural A wide variety of pathways winding through distinctive home styles. the community.

8 Visually pleasing streets with a mixture of contemporary and classic styles.

5 Streets built in progression to minimize construction noise and traffic.

9 Access to popular Schools near the Chinook Winds Park and community. the Mattamy Splash Pad in Windsong.

All illustrations are artist’s concept. All dimensions are approximate. Prices, specifications, terms and conditions subject to change without notice. E.&O.E.

052-Mattamy 01-31-14.indd 52

2014-01-22 4:33 PM