Apr 24 - May 22, 2015 Volume 18 Issue 5
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contents
APRIL 24 - MAY 22, 2015 || VOLUME 18 ISSUE 5
ON THE COVER
p. 12
GENESIS BUILDERS GROUP
New showhomes coming to Bayside’s Pier 11 in Airdrie
IN EVERY ISSUE
8
Editor’s note
COLUMNISTS
24 26 34 40
50
Insight
Landscaping season has arrived
IN THE NEWS
32
Calgaryism
36
by Cody Battershill
The Homebuying Process
Flexibility key to making your new home functional for years by Donna Moore
by Jim Rivait
Mortgages
Mortgage costs about to rise for some Canadians by Lydia McNutt
Finances
More than half of Canadians don’t check their credit score
HOMEBUYERS’ HELP
30
Industry Updates
How to avoid home purchase surprises
The source of your down payment is key by Jason Eldridge
by Brad Jackman
Calgary ranks the third most prosperous city in the world
Mortgage Mogul
47
Showhome Review
Shane Homes opens the door to Ladera showhome in Nolan Hill by Heather Ryan
Homebuyers’ Resource Section
Mortgage calculator and rate table
district maps 11 17 21 23 27
Airdrie Southeast Southwest Cochrane
29 39 43 45
Northwest Okotoks PRESIDENT, YELLOW PAGES NEXTHOME
Calgary East Region
Jacqueline Hill
EDITOR-IN-CHIEF / DIRECTOR OF CONTENT
Calgary South Region
Susan Legge
DIRECTOR OF SALES, NATIONAL
Moe Lalani
Northeast
SENIOR SALES MANAGER, WESTERN CANADA
Edwin Rizarri ART DIRECTOR
Tammy Leung 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
Viosa Barileva MANAGER OF PRODUCTION
Bala Gnanapandithan NATIONAL ACCOUNT MANAGER, MEDIATIVE
Paul Slizys
24
FOR ADVERTISING INQUIRIES PLEASE CONTACT:
403.200.8462
FOR NATIONAL ADVERTISING INQUIRIES CALL:
416.263.6783
Published by
Calgary’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.
COPYRIGHT 2015 All rights reserved by Yellow Pages Homes Limited. 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. TERMS Advertisers, Editorial content are not responsible for typographical errors, mistakes or misprints. All prices are correct as of press time and are subject to change without notice. E. & O. E.
40
EDITORIAL Submissions from interested parties will be considered. Please submit to the editor at Susan.Legge@ypnexthome.ca
//EDITOR’S NOTE
What rules your new-home choice? Lifestyle increasingly influential for homebuyers
N
SUSAN LEGGE
EDITOR-IN-CHIEF Yellow Pages NextHome
ew-home buyers are often driven by different influences, but there’s no doubt lifestyle is an increasingly important factor. Whether you’re considering a home near the beach, a golf course or a city penthouse or pied-à-terre, you’re likely looking to compensate for what you don’t have in your current residence. The amount of living space is usually the issue – either too much or too little. Most young families are looking for more living space, which is why builders are designing homes with interiors that maximize every square foot of living space to make the most of your money. As we get older, the quest for living space may take a different direction.
Downsizing is often the answer, although many homeowners with existing homes in suburban or rural areas are acquiring townhomes or piedà-terres in the city. An urban location gives owners and their friends a chance to enjoy the social and cultural activities of the city without having to drive for hours to get home. In today’s hectic world, your new home will be your retreat, so it’s important to find a home that suits your needs and lifestyle. In this issue, we profile new communities which offer the perfect place to put up your feet, plus the latest industry news and features about buying and owning a new home. Enjoy!
Susan.Legge@ypnexthome.ca Follow me on Twitter at Twitter.com/SusanLegge
How Green is your home? New homes today are far more energy efficient and cleaner, offering you opportunities to save and live heathier
E
WAYNE KARL
EDITOR Yellow Pages NextHome Wayne.Karl@ypnexthome.ca Follow me on Twitter at Twitter.com/WayneKarl
8 NEW HOME GUIDE | APR 24 - MAY 22, 2015
ven though the fi rst day of spring is actually March 20 (something Mother Nature largely ignored), April usually offers more signs that the season has really arrived. Temperatures begin to rise, rain rinses away winter’s residue and in a matter of days (we hope), tree buds sprout and green will wash around us. It’s also the natural time of year when people renew their commitment to living Green. When it comes to buying a home, newly built product today is miles
ahead of that built 25, 20 and even 10 years ago. Most home builders today go to great lengths to make their homes as Green as possible, because that’s what sells, what makes sense, and what you – the consumer – wants. Still, there are varying degrees of “Green-ness,” and builders offer different features and technologies to meet today’s increasingly stringent standards for energy efficiency and “clean” housing. Ask each builder you’re serious about buying from: How Green is this home?
9
CHBA - Calgary Region
›› AIRDRIECOMMUNITIES 3
7
VETERANS BLVD
01 BAYSIDE ESTATES
VETERANS BLVD
DEVELOPER: Genesis Land Development Corp. BUILDER: Genesis Builders Group, McKee Homes, ReidBuilt Homes www.genesisland.com
02 WINDSONG
DEVELOPER: Mattamy Homes BUILDERS: Mattamy Homes
1ST AVE
03 REUNION 10
DEVELOPER: Hopewell Residential BUILDERS: Excel Homes, Sabal Homes, McKee Homes
EAST LAKE
04 KING’S HEIGHTS
DEVELOPER: Melcor BUILDER: Loreck Homes, McKee Homes, ReidBuilt Homes, Shane Homes, Homes by Avi, Innovations by Jayman www.kingheights.ca
NOSE CREEK
05 RAVENSWOOD
1 YANKEE VALLEY BLVD
YANKEE VALLEY BLVD
DEVELOPER: Qualico BUILDERS: NuVista, McKee Homes, Pacesetter, Broadview
06 COOPER’S CROSSING 2 NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.
9
5
6 4
DEVELOPER: Westmark Holdings BUILDERS: McKee Homes, Trico Homes, Vesta Properties, Canterra Custom Homes, Crystal Creek Homes and Harder Homes, Lifestyle Homes
07 WILLIAMSTOWN 8
DEVELOPER: Vesta Properties BUILDERS: Vesta Properties
08 HILLCREST
Developer: Apex Developments Builders: Excel Homes, Shane Homes,Trico Homes hillcrestairdrie.com
09 SOUTHWINDS
Developer: Mattamy Homes Builders: Mattamy Homes
10 CANALS LANDING
Developer: Genesis Land Development Corp. Builders: ReidBuilt Homes, Mckee Homes, Crystal Creek Homes, Genesis Builders Group, Westview Homes
APR 24 - MAY 22, 2015 | NEW HOME GUIDE 11
//COVER STORY
GENESIS
to open fabulous new showhomes in Airdrie’s Bayside’s Pier 11 » by HEATHER RYAN
T
hree fabulous new showhomes by Genesis Builders Group that offer smart new designs, improved efficiencies and upscale finishes are set to open this month in Pier 11, the newest phase in the tremendously popular Bayside in Airdrie. “We’re very excited to open a new showhome parade with three front attached garage models in Pier 11,” says corporate marketing manager Jesse Coderre. “Each showhome will showcase one of Pier 11’s beautiful designer collection interior palettes; all of which were created by our interior design team.” This incredible collection of showhomes includes: the 2,432-sq.-ft.,
12 NEW HOME GUIDE | APR 24 - MAY 22, 2015
GENESIS BUILDERS GROUP | Pier 11
four-bedroom, 2.5-bathroom Ambassador starting from $570,000; the 2,261-sq.-ft., three-bedroom, 2.5-bathroom Avalon starting from $565,000; and the 1,963-sq.-ft., three-bedroom, 2.5-bathroom Bella Vista starting from $513,500. “We’re constantly refining our home designs and always striving to make our homes more functional and beautiful for families,” Coderre says. “With these new models, we really looked at improving the way people live in their homes – incorporating smart, functional layouts.” The homes in Pier 11 are well appointed, with standard specifications such as nine-ft. ceilings on the main floor, hardwood floors, granite countertops, stainless steel appliances, gas fireplaces and spa-inspired ensuites. “We’ve incorporated attributes such as low-E gas-filled windows, NEST learning thermostats and natural gas hot water tanks, which together improve the efficiency of the home and reduce the overall operating cost for the buyer,” Coderre says. “Our focus is to build homes that people will be proud to show off to their friends and family – being able to offer great value and accessible prices for buyers is very important to us.” Besides these showhome models, Genesis Builders Group offers buyers a variety of front garage plans with two-storeys ranging from 1,812 to 2,432 sq. ft. and two
bungalow models that include the 1,428sq.-ft. Riva and the 1,529-sq.-ft. Stanton with prices starting from $486,000. As well, Genesis is crafting laned home plans ranging from the 1,287-sq.-ft. Arabella to the 1,561-sq.-ft. Eden starting from the $380,000s. Bayside is a master-planned community crafted by Genesis Land Development Corp., which follows alongside six kilometres of canals, with numerous parks, walking and bike paths and a five-acre pond that combine to create a tranquil atmosphere where residents can unwind after a hectic day and Pier 11 is its current phase that offers a quiet, private feel away from major roads and train tracks yet it’s close to amenities. “The Nose Creek Elementary School is just two blocks away, so parents can walk their children to school, which is really important to families,” Coderre says. And, he notes, residents have access to an integrated pathway system with a stunning arched bridge crossing the canal that connects the community to large green spaces, parks and sports fields. Further, with a commercial site at the corner of Yankee Valley Boulevard and 8th Street Pier 11 families are able to walk to local coffee shops, drug stores, the bank and convenience stores and are minutes from all the amenities in Airdrie including Genesis Place recreation facility. They also have easy access to Yankee Valley Boulevard and the QE2 (Hwy. 2) for a quick commute to Calgary. The new showhome parade will be open by mid-May from 2 to 8 p.m. Monday to Thursday and noon to 5 p.m. weekends and holidays. An official grand opening of the showhomes is scheduled for Saturday, June 6. Learn more by visiting Pier11Airdrie.com or phoning (403)465-2709. APR 24 - MAY 22, 2015 | NEW HOME GUIDE 13
IS THE IMF ROOTING AGAINST CANADA’S HOUSING MARKET? (PARTIS2)THE IMF ROOTING AGAINST CANADA’S HOUSING MARKET? (PART 2) In our last article we discussed the International
households in Edmonton and Calgary comfortably
Monetary Fund’s (IMF) concerns over the amount of
afford the current carrying cost of the average residential
new debt Canadian households have accumulated In our last article we discussed the International during the low interest environment that has shaped Monetary Fund’s (IMF) concerns over the amount of our markets since our last recession in 2008. new debt Canadian households have accumulated
during the low interest environment that has shaped our We finished our last article by proposing that increasing markets since our last recession in 2008. debt is not a singular sign of weakening household We finishedInour articlewhat by proposing that Canadians increasing finances. ourlast opinion, counts is how
debt not a singular signtheofmoney weakening household are is spending or investing they borrow, and finances. In our opinion, what counts is how Canadians how they are servicing their debt. Currently, mortgage are spending or investing the money they borrow, and debt accounts for 66 percent of all consumer debt and how they are servicing their debt. Currently, mortgage the majority of our most recent experienced growth in debt accounts for 66 percent of all consumer debt and total national debt levels. the majority of our most recent experienced growth in total national debt levels. In economics, a common measure of financial health is In economics, a common measure of financial health is whether one is forced to spend over 30 percent of their whether one is forced to spend over 30 percent of their gross income on housing. By this measure, average
Average Housing Price in 2014
housing price, while being comparatively better off than gross income on housing. By this measure, average average households in Canada’s other top 3 major households in Edmonton and Calgary comfortably afford centres. Furthermore, these average households the current carrying cost of the average residential continue to save a significantly high portion of their housing price, while being comparatively better off than gross incomes, suggesting they are well situated to average households in Canada’s other top 3 major continue to finance their homes if these carrying costs centres. Furthermore, these average households should risetoinsave the near future. high portion of their gross continue a significantly
incomes, suggesting they are well situated to continue to The IMFtheir warns that higher interest rates could finance homes if these carrying costs should rise in
the near future. jeopardize Canadian homeowners’ abilities to finance their homes comfortably, which in turn could cause a The IMF warns that higher interest rates could jeopardize steep downturn in our housing market. Canadian homeowners’ abilities to finance their homes
comfortably, which in turn could cause a steep downturn When it comesmarket. to Alberta, we don’t share the same in our housing view. When it comes to Alberta, we don’t share the same view.
Average Household Income in 2011
*Standard Mortgage Payment/Average Monthly Household Incomes
Provincial Household Savings Rate 2013
Vancouver
$819,384
$85,400
66%
0%
Toronto
$556,603
$80,100
48%
4.6%
Montreal
$340,489
$72,300
32%
2.7%
Calgary
$452,968
$113,800
27%
16.3%
Edmonton
$359,479
$92,000
27%
16.3%
*Mortgage payment estimated at 5% down, and a 4.7% 5-year fixed mortgage rate over 25 years of amortization. Average housing price data Intelligence House is Edmonton’s newest and most was collected from the Canadian Real Estate Board. All other data was collected from Statistics Canada.
innovative Real Estate Marketing Agency with a focus on strategic market intelligence which includes full research, marketing and sales services to the real is estate industry.newest and most Intelligence House Edmonton’s Intelligence House is Edmonton’s newest and most innovative Real Estate Marketing Agency with a innovative Real Estate Marketing Agency with a focus on strategic market intelligence which focus on strategic market intelligence which includes full research, marketing and sales includes full research, marketing and sales services to the real estate industry. services to the real estate industry. 14 NEW HOME GUIDE | APR 24 - MAY 22, 2015
From left to right: Michael Melnychuk Alex Ruffini Emmett Hartfield
From left to right: From left to right: Michael Melnychuk Michael Melnychuk Alex Ruffini Alex Ruffini Emmett Hartfield Emmett Hartfield
e
d
l
n
r
s
s
o
n
e
s
n
.
Auburn Bay Gardens Developer: Carma Builders: Heartland Homes | Cardel Homes | Cedarglen Homes | Baywest Homes | Jayman MasterBUILT | Albi Homes | Morrison Homes
2 Copperfield Developer: Hopewell Residential Communities Builders: Broadview Homes | Coco Homes Sabal Homes | Stepper Custom Homes
17 AVEN
3 Cranston Developer: Carma Builders: Albi Homes | Beattie Homes | Cardel Homes | Cedarglen Homes | Trico Homes
Cranston Estates Showhomes: Corner of Cranston Ave.& Cranarch Rd. MORE VOIR
Builders: Albi Homes | Landmark Homes | Baywest Homes
4 WALDEN
HLAND DRIVE
DERSON ROAD
24 STREET
Showhomes: Walden Rise SE Developer: Genstar Builders: Shane Homes | Cardel Homes | Innovations by Jayman | Excel Homes Developer: Carma
EEK PARK
5 Mahogany
JAMES McKE
TT VI
Showhomes: Mahogany Heath SE. Developer: Hopewell Builders: Jayman MasterBUILT | Sabal Homes | Stepper Custom Homes | Trico Homes
2 AVENUE
6 McKenzie Towne Developer: Carma
YOUR HOME
ELGIN VILLAGE Showhomes: Elgin Meadows Green SE. Elgin Estates Park SE. Builders: Cardel Homes | Homes by Avi | Albi Homes | Heartland Homes VILLAGE OF PRESTWICK Showhomes: Prestwick Blvd SE. Builders: Cedarglen Homes | Jayman MasterBUILT
7 New Brighton
Showhomes: New Brighton Dr. SE. Developer: Carma Builders: Beattie Homes | Cardel Homes | Cedarglen Homes | Morrison Homes | Heartland Homes | Homes by Avi
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4/16/2015 4:14:24 PM
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16 AVENUE
16 AVENUE
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17 AVENUE
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›› SOUTHEASTCOMMUNITIES IAL
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1 CRANSTON AVE. SE
DEVELOPER: Genstar BUILDERS: Cardel Homes, Excel Homes, Homes by Avi, California Homes, Avi Urban DEVELOPER: Hopewell Residential BUILDERS: Jayman MasterBUILT, Sabal Homes, Stepper Custom Homes, Trico Homes, Homes by Avi ESTATE BUILDERS: Calbridge Homes, Morrison Homes, Homes by Avi www.mahoganyliving.com
IL
TOM TR BOT
24 STREET
DEE R
04 WALDEN
05 MAHOGANY
52 STREET
BARLOW TRAIL
MORE VOIR
DEVELOPER: Brookfield Residential BUILDERS: Albi Homes, Shane Homes, Cardel Homes, Cedarglen Homes, Trico Homes, Morrison Homes, Landmark Homes, Baywest Homes, Brookfield Residential RIVERSTONE OF CRANSTON BUILDERS: Albi Homes, Cedarglen Homes, Landmark Homes, Baywest Homes, Calbridge Homes, Brookfield Residential www.livecranston.ca
52 STREET
MacLEOAD TRAIL
ELBOW DRIV E
BLACKF OOT
TR
03 CRANSTON
SETON BLVD SE
4
DEVELOPER: Mosaic Townhomes: Brookfield Residential BUILDER: Mosaic Townhomes: Brookfield Residential
07 NEW BRIGHTON
DEVELOPER: Brookfield Residential BUILDERS: Shane Homes, Cedarglen Homes, Morrison Homes www.livenewbrighton.ca
08 CHAPARRAL VALLEY
DEVELOPER: Genstar BUILDERS: Cardel Homes, Jayman MasterBUILT, Innovations by Jayman, Cardel Lifestyles, Homes by Avi, California Homes
09 QUARRY PARK
DEVELOPER: Remington Corporation BUILDERS: Cardel Homes, Birchwood Properties, Albi Homes
10 LEGACY 10
01 AUBURN BAY
9
DEVELOPER: Westcreek Developments BUILDERS: Stepper Custom Homes, Albi Homes, Trico Homes, Excel Homes, Sterling Homes, Creations by Shane Homes, Innovations by Jayman, Calbridge Homes, Morrison Homes www.legacylife.com
DEVELOPER: Brookfield Residential BUILDERS: Brookfield Residential, Cedarglen Homes, Baywest Homes, Jayman MasterBUILT, Albi Homes, Morrison Homes, Discovery Homes, Innovations by Jayman www.liveauburnbay.ca
02 COPPERFIELD
DEVELOPER: Hopewell Residential BUILDERS: Excel Homes, Sabal Homes, Stepper Custom Homes
APR 24 - MAY 22, 2015 | NEW HOME GUIDE 17
//ASK AN EXPERT
TWITTER – A GREAT SOURCE FOR NEWHOME BUYERS
Q&A Q&A
ASK AN EXPERT by HEATHER RYAN
“Through Twitter you can really get to know companies these Q: I’m looking to buy a new home and currently gathering days; the president of Shane Homes, Shane Wenzel, is on information. Can you tell me how useful Twitter is in my Twitter (@79Reasons). following him you can gain further search? ASK AN EXPERT: by HEATHERBy RYAN insights on Shane Homes.” A: “Twitter is a great source of information on the real estate She notes that many of their partners are also on Twitter market,” says Brenda Kasianiuk, social media, marketing and sales such as Home Solutions and Mr. Fireplace, providing advice associate for Shane Homes. “If you are thinking about buying a and information on what’s new in their realm of product home and wondering if it is a good time to buy you can search offerings. using the hashtag #YYCre – the hashtag for Calgary real estate “With a good variety of home builders now using Twitter – to find useful information. You can find articles on the real estate for their marketing purposes, as well as to grow their market in Calgary from industry experts such as the Calgary business, it has become a valuable tool to use for information Home Builders Association and the New Home Buyers Guide. “As well, builders and real estate agents will use this hashtag and advice,” Kasianiuk adds. “Twitter allows users to become aware of your products and services and evaluate them better when posting articles and content that they think is useful for once an interest has been peaked.” their followers such as promotions, contests, community Twitter has the ability to use visually engaging tweet formats information, grand openings, new lot releases and more.” Buyers can also find information on decorating, maintaining that distribute branded information that can contain links to pages where users can easily receive more information on a and organizing their home; showhome photos; videos of builders’ products and services, the communities they build, showhome and community tours and more. Builders will also showhome information and more. post information on current promotions, showhome openings, If you have any home related questions, quick possession homes, etc. you’re invited to contact Shane Homes at “Plus, on Twitter, if you have questions it is easy to engage brendak@shanehomes.com with companies and get pretty quick responses,” Kasianiuk says.
18 NEW HOME GUIDE | APR 24 - MAY 22, 2015
T
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COACH ROAD
01 MYSTIC RIDGE
DEVELOPER: La Vita Land BUILDERS: Calbridge Homes www.mysticcalbridge.com
16 AVENUE
02 CURRIE BARRACKS
BOW TRAIL
MEM
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13
2 ELBOW DRIVE
5
DEVELOPER: Legend Developments
06 CRESTMONT
DEVELOPER: Qualico Communities BUILDERS: Augusta Fine Homes, NuVista Homes
BLACK FOOT TRAIL
1
BUILDERS: Crystal Creek Homes, Empire Custom Homes, Avi Urban, Calbridge Homes, Core Properties, Jayman Modus, Slokker Canada West
05 SPRING VALLEY
17 AVENUE
10
37 STREET
17 AVENUE
SARCEE TRAIL
14 AVENUE SW
69 STREET
10 ELMONT BAY
BUILDERS: Westview Builders, Winwood Homes www.elmontbay.com
12 DRESSAGE IN SILVERADO
DEVELOPER: Qualico Communities BUILDERS: Baywest Homes, Augusta Homes
SOUTHLAND DRIVE
13 WESTLAND ESTATES
BUILDERS: Baywest Homes, WestView Builders www.westlandestates.ca
15 WEST GROVE ESTATES
ANDERSON ROAD
BOTTOM TR
NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.
MACLEOAD TRAIL
GLENMORE RESERVOIR
24 STREET
BUILDERS: Prominent Homes, Crystal Creek Homes, Lupi Luxury Homes, Augusta Fine Homes, West Grove Estates
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›› SOUTHWESTCOMMUNITIES
APR 24 - MAY 22, 2015 | NEW HOME GUIDE 21
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02 JUMPING POUND RIDGE
06 WESTPOINTE ESTATES
DEVELOPER: Harmony Park BUILDERS: Stepper Custom Homes, Trico Homes, www.jumpingpoundridge.com BUILDERS: WestView Builders, Kingsmith Homes
03 SUNSET RIDGE
DEVELOPER: Melcor BUILDERS: Jayman MasterBUILT, Innovations by Jayman, Janssen, Calbridge, Landmark Homes, Excel Homes, Homes by Avi
04 RIVERSONG
DEVELOPER: Tamani Communities BUILDERS: Innovations by Jayman, Sabal Homes, Jayman MasterBUILT, Trico Homes
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DEVELOPER: Medallion Development Corp. BUILDERS: Prominent, Modena, Cornerstone, Brooklyn, Astoria Custom Homes
DEVELOPER: MGM Developments. BUILDERS: Mapleland Homes, Kingsmith Homes
07 FIRESIDE
DEVELOPER: La Vita Land BUILDERS: Calbridge, Janssen, Kingsmith, Landmark, ReidBuilt Homes www.firesidecochrane.com
08 HEARTLAND
DEVELOPER: Apex Developments BUILDERS: Excel Homes www.heartlandcochrane.com
APR 24 - MAY 22, 2015 | NEW HOME GUIDE 23
RANGE RD 40
HORSE CREEK RD.
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1A
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//INSIGHT
LANDSCAPE SEASON HAS ARRIVED Âť by BRAD JACKMAN
W
ith the sun shining and trees and plants blooming to life, Landscaping may be at the forefront of your mind. Here are a few ideas homeowners can contemplate before beginning the process. Hiring a landscape contractor should be exciting and satisfying. However, it can also be discouraging for some homeowners, unsure of where to begin, what you want your property to look like and who to talk too. Here are a few tips to guide you through a satisfying landscape construction experience. Have a plan. You can never call a company too early to plan for the following season’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. Have a 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 creating your backyard paradise. Depending on what is required for labour, equipment and materials, it may be more or less of an investment one season to the next. However, it is sometimes more cost effective to do the whole project at once. Booking a consultation with a reputable landscaper will allow you to see if your budget is in line with your vision. Hire a professional. 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. Find a landscape company that will complete the task from start to finish and handle any subcontracting required.
Landscape 360. Professional Landscape Construction. 24 NEW HOME GUIDE | APR 24 - MAY 22, 2015
Know your options. When deciding which landscape company to hire, it’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
403.452.0360 | landscape360.ca |
products available and installs everything professionally. Ask to speak with former clients who have had similar projects to the one you’re considering. Your options include patios, lighting, decks, walkways, garden beds, trees, plants and fences to irrigation, drainage solutions, boulders, retaining walls, water features, decorative concrete, outdoor cooking and fire pits. Clearly, there are many choices and it pays to explore all your options carefully. A stylish, functional yard can create a vibrant feel to your home. Be the envy of the block and provide a sanctuary for your family, friends and pets. Landscaping improves your quality of life, increases the value of your home and adds a little personal flare to your home’s exterior. Landscape 360 is a full-service landscape construction company. Our philosophy is based upon professionalism, quality, trust and respect.
like us on facebook APR 24 - MAY 22, 2015 | NEW HOME GUIDE 25
//CALGARYISM
Calgary ranks No. 3 on 2014 prosperity scorecard » by CODY BATTERSHILL Good news everyone... Calgary has been named the third most prosperous city in the world for 2014 by the Toronto Region Board of Trade’s Scorecard on Prosperity. Here are the Top 10 Most Prosperous Cities of the World in 2014: #1› Paris, France
# 6› Boston
#3› Calgary
# 8› Seattle
#2› Stockholm, Sweden
CODY BATTERSHILL is the founder of Calgaryism and a top producing realtor at ReMax House of Real Estate. Born and raised in Calgary, Cody has a passion for helping his clients accomplish their real estate goals and loves to show off the best Calgary has to offer! He can be reached at 403-370-4180, @Calgaryism on Twitter and calgaryism.ca
# 4› Oslo, Norway #5› Toronto
#7› San Francisco # 9› London, UK
#10› Sydney, Australia
In 2013 and 2014, Calgary managed to place second on the annual rankings, however YYC has slipped slightly in 2015 due to a lower score in the “economic” and “labour attractiveness” categories in which it received a score of “B” instead of “A” like it had the previous year. Calgary is the strongest economically of all Canadian cities listed, but loses two spots in the category to Paris and Stockholm. For labour attractiveness, YYC also fell to fi fth spot behind Barcelona, Spain. On the other hand, Calgary has the shortest commuting times – approximately 52 minutes on average – and is home to some of the most affordable housing out of all North American cities that were included in the report analysis. Calgary’s population is also one of its strong points; its rate of growth has increased considerably and the percentage of people aged between 25 and 34 is the highest on the continent. In addition, it is also a very safe city with the lowest homicide rating out of all North American cities! More on Calgary’s Scores Calgary received five “A” grades, and ranks in the top four or five in 15 different categories. As mentioned above, the Scorecard on Prosperity highlights its population growth as one of its strongpoints, with an average growth of 2.9 per cent over the past half-decade. To put things into perspective, Calgary is growing almost at the same rate as Shanghai, China!
26 NEW HOME GUIDE | APR 24 - MAY 22, 2015
More about the Scorecard on Prosperity The Toronto Region of Board and Trade has been measuring and assessing the labour prospects and economic conditions of the Toronto Metropolitan Area since the release of its fi rst report in 2009 by comparing the city`s performance to more than 20 others around the globe. Th is results in a Scorecard on Prosperity that includes 33 different indicators, each split into two categories: Economy (18) Labour Attractiveness (15) Rankings are done using a “most successful” and “least successful” methodology based on combined results from both categories. For a more in-depth look into the Toronto Region Board of Trade`s annual Scorecard on Prosperity, check out bot.com As a born and raised Calgarian, I must say well done YYC! Hats off to you and the tons of wonderful people who make this place such a great place to live. JOIN US
Want to know more about “the heart of the new west”? If so, join us today at Calgaryism on Twitter, Instagram and Facebook and learn about everything to do with Calgary today. We hope to see you there!
PANORAMA ROAD
STONEY TRAIL
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›› NORTHEASTCOMMUNITIES COUNTRY HILLS BLVD.
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NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.
01 SADDLESTONE
04 REDSTONE
02 SADDLEBROOK
05 CITYSCAPE
DEVELOPER: Genesis Land Development Corp. BUILDERS: Genesis Builders Group www.genesisbuildersgroup.com DEVELOPER: MLC Land Company BUILDERS: Elite Homes, Pacesetter Homes, Trico Homes
DEVELOPER: Qualico Communities BUILDERS: Broadview Homes, NuVista Homes, Pacesetter Homes, Innovations by Jayman, Trico Homes DEVELOPER: Mattamy Homes BUILDERS: Mattamy Homes
APR 24 - MAY 22, 2015 | NEW HOME GUIDE 27
north
5 Sherwood Showhomes: 1228 Sherwood Blvd. Developer: Genesis Development Corp. Builders: Majestic Homes
6 Beacon Heights Showhomes: Sherwood Crescent NW Developer: Intergulf Cidex Builders: Trico Homes/Intergulf Cidex
7 Tuscany Hillside Estates Showhomes: Tuscany Estates Rise NW Developer: Carma Builders: Landmark Homes | Albi Homes
8 Kincora
Showhomes: 115 Kinkora Glen Rd. NW
Developer: Genesis Land Development Cor Apex Developments Builders: Evolution Homes | Majestic Hom Excel Homes | Centrex Homes
*
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#1 Community in Canada* DEVELOPER: Macdonald Development Corporation BUILDERS: Astoria Homes; Albi Homes, Trickle Creek Homes, Wolf Custom Homes www.watermarkatbearspaw.com
14 EVANSRIDGE
DEVELOPER: Dream Development BUILDERS: DS Homes, Homes by Avi, Genesis Builders Group, Morrison Homes, Innovations by Jayman, Westview Builders, Stepper Custom Homes, Calbridge Homes, Excel Homes DEVELOPER: Decker Management BUILDERS: Crystal Creek Homes, Lupi Luxury Homes
17 AVENUE
37 STREET
SARCEE TRAIL
69 STREET
12 BEARSPAW WILLOW CREEK
15 ROCK LAKE ESTATES
DEVELOPER: United Communities BUILDERS: Pacesetter Homes
11 Milano
Showhomes: 99 Panatella Hill NW 05 NOLAN HILL
Trico Homes DEVELOPER:Builders: United Communities BUILDERS: Homes by Avi, Morrison DEVELOPER: Birchwood Properties Homes, Shane Homes, Sterling BUILDERS: Properties Homes, Trico Homes, Jager Homes, Hanson Ranch 10 Birchwood Showhomes: Hidden Creek Blvd. NW Pacesetter Homes EVANSTON www.nolanhillunited.com Developer: Cedarglen Homes | Cardel Homes DEVELOPER: Qualico Communities Builders: Genstar 06 BEACON HEIGHTS BUILDERS: Broadview, NuVista, Trico DEVELOPER: Intergulf Cidex Homes, Pacesetter Homes, Sterling BUILDER: Trico Homes, Intergulf Cidex Homes, Jayman MasterBUILT Developer: Birchwood Properties
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18
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02 ROYAL OAK Builders: Birchwood Properties
and Development Corp. | elopments Homes | Majestic Homes | es | Centrex Homes
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DEVELOPER: Melcor BUILDERS: Landmark Homes, Albi Homes
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DEVELOPER: Genstar BUILDERS: Homes by Avi, Cardel CityLife Homes, 9Landmark, Excel Homes, Showhomes: 2003 20th Ave. Arcuri Homes
Homes | Albi Homes
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DEVELOPER: Genesis Land Development Corp. BUILDERS: Genesis Builders Group, Passion Homes, ReidBuilt Homes, Today’s Homes www.genesisbuildersgroup.com
11 VALLEY POINTE ESTATES
AI CH IL
10 SAGE MEADOWS
BUILDERS: Astoria Custom Homes, Hyatt Homes, Laratta Homes, Mckinley Masters Custom Homes
NOTE: Map is just a graphic representation of areas of developments. 17 AVENUE
y Estates Rise NW
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144 AVE. NW
AN AG SH
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WOODLAND ROAD
›› NORTHWESTCOMMUNITIES
*2012 and 2013 National SAM award winner for Best Community Development
17 SHERWOOD
DEVELOPER: Melcor BUILDERS: Shane Homes, Homes by Avi, Genesis Builders Group www.lifeinsherwood.com
18 MOUNT PLEASANT
BUILDER: Landmark Homes www.landmarkgroup.ca
19 SYMONS GATE
DEVELOPER: Brookfield Residential BUILDERS: Brookfield Residential, Jayman MasterBuilt, Morrison Homes
APR 24 - MAY 22, 2015 | NEW HOME GUIDE 29
//SHOWHOME REVIEW
Shane Homes opens the door to new
LADERA SHOWHOME IN NOLAN
A
» by HEATHER RYAN
midst a scenic landscape of rolling hills, ponds and Celtic ruins, Shane Homes opens the doors to Ladera – the newest addition to its terrific lineup of stylish front-attached garage homes. While newly opened on the showhome parade in Nolan Hill, the 2,027-sq.-ft. Ladera model is already earning positive reviews from people who love its open concept style, features and contemporary decor. “People really love the vaulted ceiling over the great room because it’s such a unique feature and the fabulous kitchen design because it’s great for anyone who loves to cook and entertain,” says Dave Gearey, co-area manager with Glenn Jorgensen. “The island is huge and people really like the contrasting counters on the island and cabinets – it’s become a very popular feature.
30 NEW HOME GUIDE | APR 24 - MAY 22, 2015
“They also like the ensuite, having the laundry upstairs and the huge front bonus room,” Gearey says. “A great deal of thought was put into this home regarding what the average customer would want and people love the design; it’s a narrow lot line home, but it makes the most out of the space.” The Ladera presents a dynamic entry with a gorgeous marble-look tile floor that creates an elegant feel and there is plenty of room to greet guests as well as space for a bench or table. That marble-look tile floor also flows to the mud room and garage entry where there are two built-in lockers and an additional closet so outerwear and backpacks can be neatly stored. The beautiful kitchen serves up an expansive flat surface island with ample seating at the breakfast bar. The light-
SHANE HOMES | Ladera
coloured island is a nice contrast to the dark granite countertops and grey cabinets in the rest of the kitchen giving it a timeless look. There is also exceptional storage provided by an additional bank of glass-front cabinets that extend to the ceiling and a massive walk-in corner pantry that is loaded with shelves. Double doors off the kitchen ensures loads of natural light and easy access to the rear deck, expanding your entertaining outdoors. Across from the kitchen, the dining nook is ideal for entertaining large dinner parties or family gatherings and the space flows nicely into the living room featuring a vaulted ceiling and a fabulous wall-centred fireplace surrounded in glossy black tile and flanked by windows. Laminate hardwood floors adorn the kitchen, dining nook and living room, creating a nice flow. Going upstairs to the left is the spacious owners’ suite that provides ample room for king-sized furniture and a luxurious ensuite that features the same marble-look tile from
The Ladera also has an oversized garage complete with designer series garage doors with window inserts, and there is a full stone surround on the garage doors with upper stone as well. the entry, a large granite-topped vanity, corner soaker tub, walk-in shower and huge walk-in closet. Down the hall are two generous sized bedrooms, a full bathroom with a granite-topped vanity, two linen closets for extra storage and a good-sized laundry room. At the end of the hall, a huge bonus room presents a comfortable space for enjoying movie nights with the family or entertaining friends during the big game. “The Ladera also has an oversized garage complete with designer series garage doors with window inserts, and there is a full stone surround on the garage doors with upper stone as well,” Gearey adds. Check out the new Ladera and Shane Homes’ other new showhome, the 2,067-sq.-ft. Orion II, at 589 and 593 Nolan Hill Blvd. N.W., Calgary open Monday to Thursday, 2 to 8 p.m., and weekends noon to 5 p.m. For more information, call 403.536.2305 or visit shanehomes.com APR 24 - MAY 22, 2015 | NEW HOME GUIDE 31
//IN THE NEWS
Mortgage costs about to rise for some Canadians » by LYDIA MCNUTT
If you’re planning to buy a home this year with less than 10 per cent down, you can also plan for higher mortgage costs as of June 1, 2015. Canada Mortgage and Housing Corp. (CMHC) and Genworth Canada have announced that they are raising their mortgage insurance premiums by 15 per cent. CMHC increased its target capital requirements in mid-2014. The move isn’t expected to have a big impact on homebuyers’ pocketbooks or Canada’s housing markets, CMHC says. The higher premium would amount to an additional $5 per month for the typical borrower with a 95-per-cent loan-to-value ratio on a mortgage of $252,530. However, in Canada’s pricier markets, those monthly mortgage costs will inevitably be higher. In addition, the looming rise in mortgage costs could also signal a busier-than-normal spring real estate market, as homebuyers try to beat the clock on the May 31 deadline. The increase in mortgage insurance premiums reflects concerns that Canadians are overextending their budgets by taking on more home than they can afford, leaving them in a tight spot when interest rates rise or at the slightest economic turn.
Experts advise that homebuyers plan ahead, save their money and put down as much as possible, to avoid taking out a high-ratio mortgage. Homebuyers unable to save up this often hefty amount can still buy a home with a down payment of less than 20 per cent, but federally regulated lenders require mortgage loan insurance, which covers them in case of payment default. The lender is responsible for the premiums and passes those costs on to the homebuyer in the form of a lump-sum payment, or more commonly, higher monthly payments. CMHC is Canada’s largest insurer of residential mortgages. Existing mortgages, high-ratio mortgages with more than a 10-per-cent down payment, and mortgages on multi-unit properties will not be affected by the premium increase.
95% LOAN-TO-VALUE Loan Amount
$150,000
$250,000
$350,000
$450,000
Current Premium
$4,725
$7,875
$11,025
$14,175
New Premium
$5,400
$9,000
$12,600
$16,200
Additional Premium
$675
$1,125
$1,575
$2,025
Monthly Increase
$3.12
$5.20
$7.29
$9.36
Based on a five-year term at 2.79 per cent and a 25-year amortization
t
H 32 NEW HOME GUIDE | APR 24 - MAY 22, 2015
T
old world traditions. modern living. townhome
l aned home
from the $300s
from the $380s
collection
collection
Set amid the rolling hills of Calgary’s northwest, Nolan Hill recalls British Isles character of days gone by – right down to the castle-ruin entry features. Yet with abundant park space and nearby shopping, schools and recreation, Nolan Hill offers a modern, family-friendly lifestyle that combines the best of both worlds – old and new. Take Sarcee Trail 1 km north from Stoney Trail and follow the signs. NOLANHILLUNITED.COM
front
estate st yle
from the $480s
from the $600s
collection
collection
H O M E S B Y AV I | M O R R I S O N H O M E S | S H A N E H O M E S | S T E R L I N G H O M E S T R I C O H O M E S | C A R D E L L I F E S T Y L E S | J AY M A N M O D U S
//THE HOMEBUYING PROCESS
Flexibility key to making your new home functional for years to come » by DONNA MOORE
DONNA MOORE
Executive Officer, Calgary Region Home Builders’ Association 403.235.1911 crhba.com
Finding flexibility in different aspects of our lives has become essential with so many demands today for our time and attention. For example, flexible work schedules, flexible child-care options, flexible mortgages all give us the freedom to make personal choices that work best for us and reflect our own needs. With this in mind, it then makes sense for your home to be flexible as well. Home builders in the Calgary region understand the need for flexibility by designing homes with various lifestyles and preferences in mind, not only for today, but also for the future by creating comfortable homes that can accommodate changes and new priorities in your life. Careful pre-planning at the design stage means less renovation and potentially expensive changes down the road. In fact, ensuring flexibility in the design may make it possible for you to stay in your home longer as your lifestyle changes. Taking a common-sense approach to design and construction ensures that your new home is convenient, safe and comfortable to live in for all members of the family. When driving around to check out the various showhomes in the Calgary region, take a good look at the layout and consider what you will need now and in the future. Are you planning to start a family, having more children or looking forward to an empty nest? Will an aging family member move in with you and will you need to accommodate a wheelchair? Are you starting a home-based business? Major changes in your life tend to create their own demands on your home and often affect how you will use space. Home builders can offer many suggestions that will make it easy for your household to adapt to changes such as offering designs for easy integration of future additions as the need arises or your budget allows. Many builders take your future needs into account by installing roughed-in plumbing in the basement and pre-wiring for safety, security, entertainment and work. It is more economical to wire a home during construction than after it’s been completed and by doing so you’re free to install the actual systems and various pieces of equipment when you want or need them. So, telephone, cable and computer wiring, outlets and jacks are often found in various locations throughout the house to address future needs. If you desire, your builder can also
34 NEW HOME GUIDE | APR 24 - MAY 22, 2015
rough-in a central vacuum system so it can be installed later. When it comes to safety, consider talking to your builder about having well-lit entrance doors with window inserts, sidelights or even viewing holes; non-slip flooring, particularly in bathrooms and kitchens; non-scald faucets; and effective lighting throughout, including motion-activate lights outside. If you’re planning to start a family, you may want to ask your builder about getting a covered entranceway with on-grade access and plenty of room to accommodate strollers and other accessories. Plus, extra-wide hallways and door openings with plenty of swing-room. Planning on moving in an aging relative who is in a wheelchair? You will need to consider having unobstructed freedom of movement throughout the house, so make sure the layout has level floors with no sunken or raised areas, adequate space to manoeuvre a wheelchair, including in bathrooms, bedrooms and the kitchen, and easy-toopen windows placed low to allow a view from a sitting position. Other considerations include grab-bars in the bathroom, support for a wheelchair lift in the walls of stairways and pre-planned integration of a future wheelchair ramp. Also, when looking at the design, you’ll want to ensure flexibility in the rooms, so an office can be turned into a formal dining room or a play room can become a TV room, as your family’s needs change. Having a well-planned design will ensure rooms stay functional and flexible for years to come.
35
//IN THE NEWS
More than half of Canadians don’t check their credit score Many Canadians are unaware how their financial behaviour may be affecting their overall credit standing and the impact that can have on getting approved for a mortgage or a lease to rent an apartment. This, according to a new BMO Bank of Montreal report. The survey was designed to reveal the overall knowledge among Canadians on credit and how it is rated in Canada. Findings include: » More than half of Canadians (56 per cent) say they have never checked their credit score and only 14 per cent check at least once a year » Almost one third (31 per cent) lack knowledge about how to achieve a good credit rating » One fifth believe that checking their credit score can decrease their score » While Millennials (18 to 34 year olds) are more aware of their credit standing, with 20 per cent checking at least once a year, more than one-third (35 per cent) say they lack knowledge about how to attain a good credit score The study also revealed that more than half (52 per cent) of Canadians don’t know what good credit score is, with one-fifth (21 per cent) believing it to be below 600. BMO offers the following tips to help Canadians improve or maintain their credit score: Pay bills on time. One of the best ways to improve your credit score is to pay your bills within the grace period. If you have past-due bills now, get current as soon as you can. If possible, set up an automatic bill payment schedule to help you stay on track. In the event you miss a payment, a call to your credit card or mortgage company to work out a plan can help save you unnecessary dings on your credit score.
more space to
GROW
Watermark at Bearspaw offers the space you need to live and grow to your heart’s content. Custom or quick possession homes beginning at $1.2 Million. Showhome Hours are Tuesday to Thursday 12-6pm, Friday, Saturday, Sunday and Holidays 12-5pm, Closed Mondays.
C B
A. TYPICAL CALGARY ESTATE LOT 50’x 120’ | B. WATERMARK SMALLEST LOT 82’x 139’ | C. WATERMARK LARGEST LOT 200’ x 250’
See just how BIG life can be in Watermark, visit one of our showhomes or visit
A
RoomToGrowInWatermark.com
36 NEW HOME GUIDE | APR 24 - MAY 22, 2015
Manage your credit cards; don’t cancel them. A popular myth is that closing old accounts will increase your credit score; this is not necessarily true. Credit bureaus look at a combination of factors, including the total length of your credit history, which means it may be better to keep your credit cards but manage them responsibly. Check your credit report. A credit report is a record of how you’ve paid your debt. It shows how much debt you have and whether you’ve made payments on time. You can order your own credit reports free from the three major credit reporting bureaus (Equifax, Experian and TransUnion) annually and check to see if there are any errors or problems.
CALGARY’S FRESHEST NORTHWEST COMMUNITY CALGARY’S FRESHEST NORTHWEST COMMUNITY
FARMER’S MARKET
144 AVE NW
FARMER’S MARKET
DYNRW D NW SYMO SY RE LLVEAYLL NM AS SO VN
COMING COMING MAY MAY 2015 2015
FF E BLU SAG 144 AVE NW BLVD NW SAGE BLUFF BLVD NW
STONEY TRAIL NW STONEY TRAIL NW
M O D E RN P RA I RI E LI V I NG. M O D your E RN P RA I RI LIchoice V I NG. Express individuality withEyour of three modern Express your individuality with your of three modern meets traditional architectural styleschoice – Prairie Craftsman, meets architectural stylesAll – Prairie Prairie traditional Modern, and Prairie Habitat. nestledCraftsman, in the best Prairie Modern, and Prairie Habitat. All nestled in the best of northwest Calgary – Symons Valley. of northwest Calgary – Symons Valley.
BROOKFIELD RESIDENTIAL / JAYMAN MASTERBUILT / MORRISON HOMES BROOKFIELD RESIDENTIAL / JAYMAN MASTERBUILT / MORRISON HOMES
BrookfieldYYC BrookfieldYYC
L I V E S Y M O N S G AT E . C A L I V E S Y M O N S G AT E . C A
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ELIZA BETH STR EET
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OKOTOKS
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›› OKOTOKSCOMMUNITIES NOTE: Map is just a graphic representation of areas of developments. See ad of a particular project for more details.
OKOTOKS AIR RANCH
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CRYSTAL RIDGE GOLF CLUB
3 32 ST. E.
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370 AVE. E.
02 CIMARRON
DEVELOPER: Tristar Communities BUILDERS: Excel Homes, Trico Homes, Coco Homes, Timbercreek Homes, Westview Homes, Kunz Homes
03 DRAKE LANDING
DEVELOPER: United Communities BUILDERS: Lifestyle Homes, Sterling Homes, Prominent Homes
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DEVELOPER: Bordeaux Developments BUILDERS: Baywest Homes, Sterling Homes, Wolverine Custom Homes
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DEVELOPER: Prominence Development Corp. BUILDERS: Cornerstone Homes, Gramercy Homes, Carpenter Homes
08 MOUNTAINVIEW
(NOW OPEN) AT SANDSTONE DR. & MOUNT BURNS GREEN Apex Developments BUILDERS: Excel Homes, Sterling Homes www.mountainviewokotoks.com
APR 24 - MAY 22, 2015 | NEW HOME GUIDE 39
//INDUSTRY UPDATES – CHBA - ALBERTA
Avoid home purchase surprises » by JIM RIVAIT
JIM RIVAIT
Jim Rivait is Chief Executive Officer of CHBA – Alberta. Starting his career working in government, Jim spent the last decade working in the private sector specializing in government relations, advocacy, strategic communications, policy development/analysis and association management.
Buying a home is a challenging process, and no purchaser wants to discover a potentially costly deal breaker at the last moment. That’s why it is essential for consumers to be aware of the possible pitfalls of signing an exclusive service agreement with a real estate agent to help you buy a home. Our association is hearing of cases where buyers never realized that an exclusive agreement means a real estate agent is entitled a commission on the sale of a new home or condo bought directly through a builder. Buyers are then in a tough spot. It’s important to understand that the builder has no legal obligation to pay the commission. So how can buyers protect themselves against unexpected shocks? The fi rst step is to understand that the Real Estate Council of Alberta (RECA) introduced new requirements for real estate professionals last July so the rules may have changed since you last bought a home. The non-government regulator made it mandatory for its members to use written service agreements with clients. The goal was to clarify the roles and responsibilities of agents and their clients in an attempt to reduce confl icts and confusion. The RECA website provides more information about what parts of the agreement are negotiable, including the services to be provided, length of the agreement and remuneration.
40 NEW HOME GUIDE | APR 24 - MAY 22, 2015
Buyers can also negotiate whether the buyer representation agreement is exclusive or non-exclusive. A non-exclusive agreement leaves the consumer free to act on their own without having to pay a commission on a sale. Consumers can also enter into non-exclusive agreements with multiple agents. An exclusive agreement locks the consumer into the terms of the contract – including commissions – even if the buyer deals directly with a builder. RECA states that consumers can request a non-exclusive agreement but that its members are not obliged to accept those terms. The buyer has the option of finding a different agent. Builders have taken steps in the past to work with buyers who want to be represented by an agent. The Builder/Realtor Cooperation Program is in place in both Edmonton and Calgary and many major builders participate. A key principle of that program is that agents must register a client with the builder and then accompany the prospective buyer to view any showhomes. Th is ensures that all the participants understand right from the start that an agent will be involved in the sale. Homebuyers can avoid unexpected costs and stress by ensuring that they fully understand the terms and conditions before they sign either an exclusive or non-exclusive a service agreement. That’s the simple way to avoid complications later. The Canadian Home Builders’ Association – Alberta represents over 1,500 business members including new home builders, renovators, developers, trade and supply companies, and professional services.
NEW PHASE NOW AVAILABLE
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2
E
4
1
3
STRATHMORE 1
CALGARY
CHESTERMERE 797 LANGDON
22X
22X
DDIS
VALLEY
HERITAGE POINTE
BLACK DIAMOND
2
OKOTOKS
CHESTERMERE 543 RAINBOW FALLS
22 DEVELOPER: Truman Developments HIGH RIVER BUILDER: Jager Homes, Lionsworthe Homes, Douglas Homes, ReidBuilt Homes WESTMERE
DEVELOPER: Melcor BUILDERS: Lifestyle Homes, ReidBuilt Homes
SHORES ON WESTMERE
DEVELOPER: Melcor BUILDERS: Homes by Avi, Albi Homes
KINNIBURGH
DEVELOPER: Pollyco Developments BUILDERS: Stepper Custom Homes, Canterra custom homes, Sterling Homes, Lifestyle Homes, Douglas Homes, Westridge Fine Homes, Broadview Homes, ReidBuilt Homes
2A 04 BUFFALO HILLS (coming soon)
BUILDERS: Prominent Homes Douglas Homes, Klair Custom Homes Prominent Homes, Mapeland Homes
LAKEPOINTE
DEVELOPER: Mattamy Homes BUILDER: Mattamy Homes Sales centre 400 Westpark Dr.
LANGDON BOULDER CREEK ESTATES
DEVELOPER: Harmony Park BUILDERS: Stepper Custom Homes, Broadview Homes
HANSON PARK
DEVELOPER: Hanson Park Developments BUILDERS: Canaco Homes Ltd, Ovation Homes Ltd, Douglas Homes
STRATHMORE THE RANCH IN STRATHMORE
DEVELOPER: United BUILDERS: Jager Homes and Westview Builders
WILDFLOWER RANCH IN STRATHMORE
DEVELOPER: Cancorp Property Group Inc. BUILDERS: Carpenter Homes, Paradyme Homes, Aquilla Homes and Canterra Custom Homes
EDGEFIELD IN STRATHMORE
DEVELOPER: Pollyco BUILDERS: ReidBuilt Homes, Ovation Homes, Westview Homes, Aquilla Homes www.edgefieldstrathmore.com
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BUILDERS: Douglas Homes, Today’s Homes, Ribero Homes and Compass Rose Homes
APR 24 - MAY 22, 2015 | NEW HOME GUIDE 43
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COCHRANE
STRATHMORE
1
1
CALGARY
CHESTERMERE 797 LANGDON
22X
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PRIDDIS
TURNER VALLEY
HERITAGE POINTE
BLACK DIAMOND
2
OKOTOKS 2A
543 22
HIGH RIVER HIGHWOOD LAKE
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APR 24 - MAY 22, 2015 | NEW HOME GUIDE 45
Builders and Developers Hopewell Residential Baywest Homes Cardel Homes Vesta Properties Jayman BUILT Homes by Avi Mattamy Homes United Communities Jager Homes
web directory
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www.baywesthomes.com www.cardelhomes.com www.vestaproperties.com www.jayman.com www.homesbyavi.com www.mattamyhomes.com www.unitedcommunities.com www.jagerhomes.com www.dream.ca www.livebrookfield.com www.bordeauxdevelopments.com
Sabal Homes
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Shane Homes
www.shanehomes.com
Trico Homes
www.tricohomes.com
Calbridge Homes
www.calbridgehomes.com
Landmark Homes
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Cedarglen Homes
www.cedarglenhomes.com
Morrison Homes Excel Homes Apex Developments Genesis Land Genstar Developments Landscape 360 Qualico Communities Stepper Custom Homes Tamani Communities Westmark Holdings – Cooper’s Crossing Watermark 46 NEW HOME GUIDE | APR 24 - MAY 22, 2015
www.hopewellcommunities.com
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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
APR 24 - MAY 22, 2015 | NEW HOME GUIDE 47
//HOMEBUYERS’ HELP
Calculate your mortgage payments 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
TOTAL PRE-TAX INCOME
AMOUNT OF MORTGAGE (PRICE – DOWN PAYMENT)
AMORTIZATION AMOUNT
MONTHLY PAYMENTS
MORTGAGE PAYMENT CALCULATION CHART INTEREST RATES %
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.
48 NEW HOME GUIDE | APR 24 - MAY 22, 2015
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 firsttime buyers take the 25-year amortization.)
05
Multiply this figure by the amount you need to borrow. Divide by 1,000.
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.
» 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.
Mortgage interest rates VARIABLE 6 month
1 year
2 years
3 years
4 years
5 years
ATB Financial
2.350
4.000
2.940
2.640
2.640
2.740
2.840
Alterna Bank
2.450
4.000
2.980
2.980
2.980
2.940
2.780
Alterna Savings
2.450
4.000
2.980
2.980
2.980
2.940
2.780
Bank of Montreal (BMO)
2.850
4.000
2.890
2.840
3.390
3.890
4.740
Bank of Nova Scotia
2.850
4.550
3.290
3.090
3.390
3.890
4.490
CIBC Mortgages
2.850
4.450
2.890
2.840
3.550
4.140
4.790
Canadian Western Bank
3.050
4.000
3.140
3.040
3.650
4.200
4.790
Canadian Western Trust
3.050
4.000
3.140
3.040
3.650
4.200
4.790
Comtech Credit Union
-
6.200
2.890
2.890
2.950
2.990
2.790
First Calgary Financial
-
4.000
2.890
2.890
2.490
3.090
2.950
First National Financial
2.250
3.950
2.840
2.490
2.590
2.690
2.690
FirstOntario Credit Un.
2.850
4.240
2.990
3.040
3.190
2.990
2.790
HSBC Bank Canada
2.850
4.450
3.140
3.140
3.540
4.240
4.740
Home Trust Company
2.500
3.950
2.890
2.440
2.540
2.640
2.640
ICICI Bank Canada
3.050
-
3.150
3.650
3.640
3.690
3.690
Investors Group Trust
2.850
4.200
3.140
3.090
3.750
4.390
4.790
London Life
2.850
4.200
3.140
3.090
3.750
4.390
4.790
Manulife Bank
2.550
4.450
3.000
2.940
2.840
2.790
2.790
Manulife Trust
-
4.450
3.000
2.940
2.840
2.790
2.790
Meridian Credit Union
2.650
4.000
3.090
3.090
3.550
3.290
2.750
National Bank
2.850
4.400
2.890
2.840
3.390
3.890
4.740
Ontario Civil Service CU
3.000
6.000
3.090
3.040
3.500
3.040
3.290
-
5.000
2.890
2.590
3.390
3.890
4.740
2.500
-
2.700
2.900
3.000
3.100
3.200
-
4.500
3.150
3.500
3.750
3.850
3.950
President’s Choice Fin’l
2.850
6.190
3.190
2.840
3.490
4.040
4.440
Royal Bank of Canada
2.850
3.140
3.140
3.040
3.650
4.390
4.640
Servus Credit Union
-
4.000
2.890
2.840
3.390
3.890
4.640
Steinbach Credit Union
-
-
2.600
2.700
2.750
2.850
2.850
T-D Mortgage
2.850
3.140
2.890
2.840
3.390
3.890
4.740
Tangerine
3.000
-
3.190
3.240
3.490
3.690
3.790
Windsor Family C.U.
-
4.450
3.140
3.140
3.750
3.950
3.790
Your Neighbourhood C.U.
-
-
2.990
3.000
3.190
3.300
3.190
PACE Savings & Credit Un Parama Credit Union Peace Hills Trust
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-R ATIO: 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
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 MARCH 28, 2015. This information is current as of the date and time posted and is subject to change without notice. © Copyright 2015 CANNEX Financial Exchanges Limited. All rights reserved.
APR 24 - MAY 22, 2015 | NEW HOME GUIDE 49
//MORTGAGE MOGUL
Source of your down payment is key » by JASON ELDRIDGE Over the past few years, the mortgage industry has been subject to many changes that have affected how mortgage financing is granted for clients wishing to purchase a home. With that said, the one constant that still exists is the verification of the down payment that is used for purchasing a home. The government of Canada always has and always will have strict guidelines that the banks and financial institutions must comply with when verifying the source of any down payment to be used for purchasing real estate. When purchasing a property, there are many acceptable forms of down payment that may be used. Firstly, and perhaps most commonly, there is the accumulation of savings over time. With most home purchases, you are required to have a minimum down payment of at least five per cent of the purchase price. So, whether it’s taking a chunk of your monthly remuneration, and transferring these funds to a separate bank account, or selling an asset and depositing the funds into your savings account, these accumulated funds may be used for the purpose of purchasing a home. The banks and financial institutions require you to provide a detailed history of your bank account for the previous 90 days, showing the accumulation of such funds. If there are any deposits that exceed $1,500, you will be required to provide a paper trail for that deposit. This documentation will also be required for any investment accounts, such as stocks, bonds, mutual funds, tax free savings accounts, as examples, that you may want to draw from. You may wonder why I left out RRSPs in this list. This source of funds warrants its own discussion, since depending on whether you are a first-time homebuyer or are purchasing another property, RRSPs will be treated differently from a tax perspective. As a first-time homebuyer, you have the option of withdrawing up to $25,000 tax free from your RRSP portfolio (assuming the investment vehicles you hold inside your RRSP are fully liquid or will be maturing by the time you require the funds). These funds must be paid back to your RRSP over the course of 15 years. However, if you do not qualify under the First Time Homebuyers Plan, you may still use your RRSPs for the down payment, but these funds would be subject to withholding tax (usually five to 15 per cent of the amount withdrawn), and you would be responsible for claiming this withdrawal as income towards that year’s personal income taxes. Another source of acceptable down payments for most home purchase programs is the receipt of a gift from an immediate family member. Relatives who qualify as immediate family include parents, siblings and grandparents. There are certain programs where the down payment cannot come from a gift. For most lenders, all that is required to verify a gift is for a gift letter to be completed and signed by the recipient as well as the donors, and to provide confirmation of the gifted funds being deposited to the recipient’s bank account. If you already own a home and have built up equity in your property over the years, and you are planning to sell your property in order to move into the new one, you may transfer this existing equity from one property to the next. If you are taking possession of your new home prior to your existing property being released to the new buyers, you will likely need to arrange interim or bridge financing until the funds from the sale are
Over the past few years, the mortgage industry has been subject to many changes that have affected how mortgage financing is granted for clients wishing to purchase a home. 50 NEW HOME GUIDE | APR 24 - MAY 22, 2015
received. If you are looking to purchase a second home or a revenue property, you may qualify to arrange a Home Equity Line of Credit (HELOC) that may be used as a valid down payment since you own the equity in your home. If you are building a new home and you have a particular skill set, for example, as a plumber, you may, depending on the policies of the lender, contribute sweat equity as part of your down payment. The general rule of thumb is that you may inject up to 50 per cent of the minimum required down payment in the form of sweat equity to a maximum of $25,000. The remaining down payment would be need to come from another valid source. Finally, there is one other source of down payment that is accepted by very few lenders and insurers these days. This program is referred to as “flex down.” Essentially, if you have sufficient credit available to you, you may draw from these credit sources such as credit cards, lines of credit, personal loan) in order to form part or all of your down payment. The key to this program is that the minimum monthly payment obligations have to be factored into the debt servicing ratio calculations (affordability analysis). As always, I invite any questions or comments you may have regarding any of the information contained in my articles. Until next month...
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
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EXCLUSIVE
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DOUBLE CAR GARAGE THE AMETHYST ‘A’ 1,859 SQ.FT. $434,990 WINDOW WELL WINDOW WELL WHERE REQ'D WHERE REQ'D BY GRADE BY GRADE
WINDOW WELL WINDOW WELL WHERE REQ'D WHERE REQ'D BY GRADE BY GRADE
FIREPLACE ABOVEFIREPLACE ABOVE
PATIO DOOR PATIO DOOR
FLUSH BREAKFAST BAR
5MUD DN IF REQ'D
DN IF REQ'D
AND WALK-IN CLOSET
UP
UP
DN
6 OWNER’S RETREAT WITH LARGE
WALK-IN CLOSET AND ENSUITE 7 LARGE LOFT FOR ENTERTAINING
SUNKEN IF REQ'D SUNKEN IF REQ'D
LINEN
UP
BATHBATH
9
DOOR IF DOOR IF GRADE PERMITS GRADE (LANDING MAY PERMITS (LANDING MAY BE REQ’D) BE REQ’D) DN
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UP
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LAUNDRY LAUNDRY D
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BEDROOM 3 3 BEDROOM 9'6"x10'0"
OPT. UPPERS OPT. UPPERS
9'6"x10'0"
DOUBLE HANGING DOUBLE HANGING
SLOPED SLOPED KNEEWALL KNEEWALL
W.I.C.W.I.C.
LINEN
ENSUITE ENSUITE
OPT. COFFERED CEILING OPT. COFFERED CEILING
OPEN TO ABOVE OPEN TO ABOVE DN
10'0"x11'2"
W.I.C.W.I.C.
OPEN TO BELOW
ORGANIZATION
LOW HEADROOM LOW HEADROOM STORAGE STORAGE
LEDGE
DN
MUD ROOMROOM
STOP & DROP
NICHE
WALK-IN PANTRY WALK-IN PANTRY
NICHE
4 INVITING PORCH WITH GRAND FOYER
BEDROOM 2 2 BEDROOM 10'0"x11'2"
KNEEWALL KNEEWALL
PANTRY
LOW HEADROOM LOW HEADROOM IF REQ'D IF REQ'D
5 MUDROOM OFF GARAGE FOR
6
F
PANTRY
8
15'0"x12'2"
13'0"x16'0"
KNEEWALL OPEN TO BELOW
F
MECH. AREA
OWNERS OWNERS RETREAT RETREAT 15'0"x12'2"
GREAT ROOMROOM GREAT 13'0"x16'0"
2
STOP & DROP
MECH. AREA
3 DOUBLE-CAR GARAGE
FLUSH BREAKFAST BAR
AND EAT-IN DINING AREA
W.I.C.W.I.C.
DOUBLE HANGING DOUBLE HANGING
S
UNFINISHED BREAKFAST BAR 2 KITCHEN WITH UNFINISHED BASEMENT BASEMENT
8
OPT. TRAY CEILING OPT. TRAY CEILING
8'4"x12'0"
8'9"x12'0"
DOUBLE HANGING
KITCHEN KITCHEN 8'9"x12'0" S
1
DINING AREADINING AREA 8'4"x12'0"
KNEEWALL
1 GREAT ROOM WITH GAS FIREPLACE
GAS FIREPLACE GAS FIREPLACE
DW
DOUBLE HANGING
DW
LEDGE
BOILER
W
WALL HUNG HUNG HEATINGWALL SYSTEM HEATING SYSTEM
KNEEWALL KNEEWALL
GARAGE GARAGE 19'2"x22'0"
8
19'2"x22'0"
FOYER FOYER
3
W.I.C.W.I.C.
LOFTLOFT
15'0"x10'2" (11'2")(11'2") 15'0"x10'2"
7
PWD PWD
8 ALL BEDROOMS FEATURE
WALK-IN CLOSETS
UNEXCAVATED UNEXCAVATED
UNEX.UNEX.
9 CONVENIENT SECOND FLOOR LAUNDRY BASEMENT PLAN 'C' 'C' BASEMENT PLAN
PORCH PORCH
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MAIN FLOOR PLAN MAIN FLOOR PLAN 'C' 'C' MAIN FLOOR PLAN
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SALES CENTRE HOURS: Monday - Thursday 1pm-8pm; Friday 1pm-6 pm; Saturday, Sunday and Holidays 11am-6pm All illustrations are artist’s concept. All dimensions are approximate. Prices, specifications, terms and conditions subject to change without notice. E.&O.E.
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2015-04-14 12:23 PM