SEPT 2 – 16, 2017 | nexthome.ca
EASTERN ONTARIO EDITION
SPE CI A
Connecting Canadians to new HOMES & CONDOS for more than 25 years L
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Come Home To Nature At Spring Valley Trails
INSIDE:
Q&A WITH REAL ESTATE EXPERT DON CAMPBELL
UNDERSTANDING MODEL HOMES: LOOKING PAST THE SURFACE
OUR ROOTS ARE DEEP
Creating Ottawa’s most loved neighbourhoods for over 60 years. Our masterplanned communities are designed to bring nature and neighbours together. Embrace the magic of fall with your friends and family in our beautiful parks — minutes from your door in every Minto community.
AVALON ENCORE • HARMONY • MAHOGANY POTTER’S KEY • QUINN’S POINTE
ottawahomes.minto.com
AMAZING HOME SELECTION, UNBELIEVABLE VALUE.
MORE INCLUDED FEATURES PLUS UP TO $ 25,000 AT DÉCOR THE FINAL 5 CORNER LOTS NOW AVAILABLE WITH ANY 30' FLOOR PLAN
ORLÉANS Townhomes
Detached Homes
From $239,990
From $358,990
SALES CENTRE 2496 Tenth Line Rd • 613-837-5056
30' Home, The Marigold Corner ‘B’, 1,710 Sq.Ft. $399,990
43' Home, The Westlynn ‘B’, 2,907 Sq.Ft. $522,990
Includes: 9' Main Floor Ceilings, Gas Fireplace, Rec. Room Ready, Bath Oasis & $25,000 at Décor
Includes: $10,000 at Décor
SALES CENTRE HOURS MODEL HOME HOURS
Monday - Thursday 1 pm-8 pm; Friday 1 pm-6 pm; Saturday, Sunday and Holidays 11 am-6 pm Monday - Thursday 1 pm-7:30 pm; Friday 1 pm-5:30 pm; Saturday, Sunday and Holidays 11 am-5:30 pm
The Walnut Model Home in Summerside West, Orléans
ELEVATION ‘A’
Village Home, The Thornbury End ‘A’, 1,391 Sq.Ft. $269,990 Includes: 3 Stainless Steel Appliances, Master Ensuite, Quartz Countertop in Kitchen & Hardwood on Main Floor
ELEVATION ‘B’
Townhome, The Oak End ‘B’, 1,776 Sq.Ft. $324,990 Includes: 3 Stainless Steel Appliances, Premium Waived, Rec. Room Ready, & $12,500 at Décor
MATTAMYHOMES.COM All illustrations are artist’s concept. All dimensions are approximate. Prices, specifications, terms and conditions subject to change without notice. E.&O.E.
Exclusive Zen Urban Flats Deal your Zen Urban Flat when you buy SAVE $10,000 on and close before OCTOBER 2017!*
Sundance Zen Urban Flats Sundance is the perfect blend of nature and convenience of urban living. Rife with greenery, playgrounds, and community life, this area is quickly becoming Ottawa’s number one choice for families. One listen to the murmurs of Findlay Creek, or the feeling of a warm summer’s breeze on nearby trails will have your entire family enamoured with this charming community. Coupling proximity to schools and bus routes with forests and creeks, Sundance is the perfect community in which to live, play, and grow. Visit our sales centre and ask our representative for more details on how you can save $10,000 on your purchase today!* 779 Fiddlehead St., Bank St South 613-425-1332
*Exclusive Zen Urban Flat deal applies to units in Building E only. Conditions apply, please contact a sales representative for more details.
Move in ready homes across the city As Ottawa’s largest builder of homes and condominiums we have plenty of move in ready homes waiting for you across the city. Ready immediately, or in as little as 4 months, we have homes big and small that will fit every unique lifestyle.
SOPHIA II B (Findlay Creek)
THE MOONEY’S BAY (Hunt Club)
Immediate Availability 3400 sq ft Single Home (Lot 124) Over $55K in upgrades Only $592,900
Immediate Availability 990 sq ft 2 Bed Condo Flat (Block B Unit 104) Only $277,900
JUNIPER (Rockcliffe)
MELBOURNE (Riverside South)
Available Early 2018 3185 sq ft Single Home (Lot 84) $15K Design Centre Bonus Only $748,000
Available October 2017 1840 sq ft 3 Storey Townhome (Block 2 Unit 8) End Unit Only $369,900
TRILLIUM 4 (Navan)
UNITY (Kanata)
Immediate Availability 2205 sq ft Townhome (Block 49 Unit 253) Only $343,900
Immediate Availability 1875 sq ft Townhome (Block 10 Unit 53) Over $30K in upgrades, corner unit Only $394,900
ClaridgeHomes.com Prices and specifications are subject to change without notice. E.&O.E.
SEPT 2 – 16, 2017 | VOLUME 17 ISSUE 16
CONTENTS
VICE-PRESIDENT & CHIEF PUBLISHING OFFICER
Caroline Andrews PUBLISHER & GENERAL MANAGER
Shawn Woodford ASSOCIATE PUBLISHER
Anne-Marie Breen DIRECTOR OF CONTENT & EDITOR-IN-CHIEF
Jennifer Reynolds MANAGING EDITOR
Wayne Karl SENIOR EDITOR
Lydia McNutt ART DIRECTOR
Tammy Leung CONTRIBUTING EDITORS
20 ON THE COVER:
Claridge Homes
Spring Valley Trails: Welcome home to nature SPOTLIGHT ON CONDOS Your guide to new condo communities in the Gatineau and Greater Ottawa Area
TRENDING
C10 CMHC
Problematic conditions persist in some markets in Canada
16 Ottawa News
Using debt to invest; Condo sales drive resale market
C6 Fundamentally Slow and steady progress in the Ottawa market
Understanding model homes: Looking past the surface
BY MARNIE BENNETT
THE LAST WORD
26 Q&A
Don R. Campbell, real estate investor, educator and author
PROPERTY PROFILES
The Corners on Main: Under construction, over achieving
INSPIRATION
18 Design Secrets
Bath or shower? That is the divisive question
Paul Bimm paul.bimm@ypnexthome.ca SALES & MARKETING CO-ORDINATOR
Sarah Khan SENIOR MANAGER, DISTRIBUTION
Dwayne Rutherford NATIONAL CIRCULATION MANAGER
John Jenkins
PRODUCTION MANAGER
Anthony Majetic PRODUCTION CO-ORDINATOR
Dennis Ng Dennis Ng Published by
Speaking
C14 Home Smarts
C4 Domicile
SALES MANAGER, EASTERN ONTARIO
GRAPHIC DESIGNERS
ADVICE
BY WAYNE KARL
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Sonia Bell Elisa Krovblit Lydia McNutt
IN EVERY ISSUE
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Editor’s Note Hot Properties Advertisers Index What’s Online
A brand of Yellow Pages Homes Ltd. #500-401 The West Mall Etobicoke, ON M9C 5J5 T 416.626.4200 F 416.784.5867 nexthome.ca
Advertising Call 416.626.4200 for advertising rates and information. Circulation Highly targeted, free distribution system aimed at real estate buyers using street level boxes and racking, plus door-to-door insertions in key audience segments. Call 1-855-826-4200 to discuss distribution opportunities. Copyright 2017 All rights reserved by Yellow Pages Homes Ltd., Toronto, Ont. 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. Editorial Submissions from interested parties will be considered. Please submit to the editor at wayne.karl@ypnexthome.ca
More amenities than you can imagine. More value than you expect.
eQuinelle brings you more—more options, more community luxuries, more value.
KEMPTVILLE 5
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Visit our friendly, welcoming neighbourhood and discover our spectacular Residents Club, golf course, parks and river-side walking trail. 2
Tour our 3 model homes this weekend and find more of what you’re looking for.
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You’ll be amazed by the community and surprised by the value. Single Family Homes starting from
$349,900
Prices and specifications are subject to change without notice. E. & O.E.
416
78 EQUINELLE DRIVE
613.258.6488 learn more at eqhomes.ca
EDITOR’S NOTE
SLOW AND STEADY PAYS OFF FOR OTTAWA
WAYNE KARL MANAGING EDITOR NextHome
Homeowners in the Ottawa area might well have viewed with envy the spectacular home price growth that has occurred in recent years in hot market such as Toronto. But as with many good things, sometimes they come to an end – in that skyrocketing value appreciation often leads to affordability challenges. Ottawa, on the other hand, has seen more slow and steady growth – not that this market is immune to issues of its own. The resale market here enjoyed a steady pace through the summer, with condo sales particularly strong, according to the Ottawa Real Estate Board. Benchmark home price growth, meanwhile, rose 5.8 per cent from July 2016 to July 2017, lifting the average to $420,335. Two-storey single-family homes climbed 6.8 per cent, and condo prices 2.8 per cent to $267,641. “Ottawa’s consistent, steady growth and relative affordability, compared to regions such as the GTA, has helped contribute to strong consumer confidence,” says Christopher Alexander, regional director, ReMax Integra, Ontario-Atlantic. So, Ottawa homeowners and prospective homebuyers, there is no need to look longingly at the performance of other markets in Canada. Slow and steady seems to be paying off in this region.
EMAIL: Wayne.Karl@ypnexthome.ca TWITTER: @WayneKarl
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MORE ONLINE: Looking to buy an investment property? We’ve compiled a list of the hottest markets in Ontario. nexthome.ca/where-to-invest
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Interact with us on social media: nexthome
MOVE-IN READY NEXT TO DOWNTOWN
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MACLAREN
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MORTGAGE PAYMENTS F O R A YEAR! CONTEST*
Limited time offer. See sales consultant for details. Prices, terms and specifications are subject to change without notice. E & O.E. * No purchase necessary. Internet access may be required. Enter December 13th, 2016 – December 12th, 2017 for a chance to win. Prize Draw Dec. 14th, 2017. Only open to homeowners who bought or will buy a new Valecraft Home in Ottawa or Embrun between December 13th, 2016 – December 12th, 2017, who will have a mortgage on it in 2018 and who are legal residents of Ontario over the age of majority. Limit of one (1) entry per Mortgagor as defined. Skill-testing question and Release required. One Prize of mortgage payments up to $1,500/month during 2018 (ARV $18,000). Odds of winning depend on number of eligible entries received. Restrictions apply. Full rules and entry information at Valecraft.com.
SPOTLIGHT ON
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IN THIS SECTION
YOUR PULL-OUT GUIDE TO HIGHRISE, CONVERSION, LOFT, TERRACE & TOWNHOME CONDO PROJECTS
Fetch.
SPOTLIGHT ON
CONDOS
See what’s new at Cardel.
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CARDELHOMES.COM
Our vision for The Corners on Main; your vision for home.
Phase 1 Phase 2 Move in January 2018-2019 Visit our award-winning presentation centre: 223 Main St. | Mon-Thurs: 12-6pm | Sat-Sun: 12-5pm 613-806-6246 | cornersonmain.ca
CONDOS
There is a major transformation underway in Old Ottawa East. Is your life’s next adventure just around the corner?
SPOTLIGHT ON
It’s easier than ever to visualize the potential. Phase One of The Corners on Main is well under construction, and we couldn’t wait to show off the progress. Within each suite, the hopes and dreams of future homeowners are unfolding. We look forward to rewarding their trust in us with beautiful, boutique condos.
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PROPERTY PROFILE
UNDER CONSTRUCTION
SPOTLIGHT ON
CONDOS
OVER ACHIEVING
Now well under construction, Domicile couldn’t resist showcasing the raw potential of their latest condominium, The Corners on Main. As the hopes and dreams of future homeowners are unfolding, opportunities to own in Phase 1 and Phase 2 remain available. “If you’re looking for a perfect balance of generous layouts, neighbourhood charm and maintenance-free living, you should plan your visit to our sales centre today,” says Lead Sales Associate Karen Watts.
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Featuring a large selection of two-bedroom suites, The Corners on Main is urban living at its finest. No sacrifices. At the award-winning sales centre (Greater Ottawa Home Builders’ Association’s Best Builder Sales Centre 2016), you can count on Watts to help you find your perfect fit. Connecting with local architecture firm, Roderick Lahey Architects, Phase 1 construction of The Corners on Main is nearly finished. Domicile has yet again created must-see condominiums
in the heart of the city. This four- and six-storey midrise along Main Street is the perfect addition to this already established community, which is currently undergoing a period of growth and transition. Old Ottawa East is one of the city’s most promising neighbourhoods. The future is bright for Main Street, thanks to a successful City of Ottawa infrastructure renewal project and significant involvement from the active community association. Beginning
suite and interactive touch-screen display of the built site.
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LOCATION Old Ottawa East DEVELOPER Domicile DEVELOPMENT The Corners on Main HOME TYPE Condominiums
SALES CENTRE
223 Main St., open Monday to Thursday noon to 6 p.m., Saturday, and Sunday noon to 5 p.m. CONTACT 613.806.6246
CONDOS
suited to the neighbourhood. As with all Domicile projects, the design and craftsmanship favour classic styles over of-themoment trends. All suites offer high-end finishes, such as quartz countertops, hardwood floors, quality cabinetry, stainless-steel appliances and a large selection of attractive tiles. All of these finishes come standard, which means you don’t have to worry about spending money on upgrades. Domicile offers a four-year extended warranty, a first-time homeowner’s incentive program, and it is the only builder in the city with 100-per-cent smoke-free buildings. For more information on The Corners on Main, visit cornersonmain.ca or head to the Presentation Centre at 223 Main St. (next to Saint Paul University) to see the fully-furnished model
SPOTLIGHT ON
in September, the City will begin construction on a pedestrian bridge across the Canal, linking Old Ottawa East to Lansdowne and the Glebe. The influx of development underway in the area includes promising ground-floor retail opportunities at The Corners on Main. On Saturday mornings during the growing season, the Main Farmers’ Market is just up the street. The downtown core is just a 25-minute walk or eight minutes by bike. Nestled between the Rideau Canal and the Rideau River, there are countless ways for you to enjoy your free time. Buyers can choose from a variety of layouts: Pied-a-terre, one- or two-bedroom, or twobedroom with a den. The triedand-true exterior brick and stone facades are timeless and well-
Sept 2 - 16, 2017 C5
ADVICE | FUNDAMENTALLY SPEAKING
DON’T LOOK NOW, OTTAWA…
SLOW AND STEADY PROGRESS BUILDS CONSUMER CONFIDENCE, STRONG MARKET PERFORMANCE
SPOTLIGHT ON
CONDOS
WAYNE KARL In another classic case of a misleading headline – curiously regurgitated by major media outlets – “Canadian home sales fall further in July.” So read the latest statistical release from The Canadian Real Estate Association (CREA), for July 2017. Let’s just get this out of the way: CREA reports that the number of homes sold via Canadian MLS systems fell 2.1 per cent in July 2017, the fourth consecutive monthly decline. While the monthly decline was about onethird the magnitude of those in May and June, it leaves sales activity 15.3 per cent below the record set in March. Yes, that’s the picture for Canada as a whole. Yikes. Sounds pretty bad. But as we often point out in NextHome, when you buy a home, you don’t buy the “Canadian market,” or even a provincial or regional one. You buy one property, in one neighbourhood, in one city or town. So, what should homeowners and prospective homebuyers in the Ottawa region really care about when it comes to such news? “The Ottawa resale market continued its steady pace into mid-summer, with condo sales really bolstering the market this
C6 NextHome.ca
past month,” says Rick Eisert, president of the Ottawa Real Estate Board. Boom. There it is. As for home prices, the national average price for homes sold in July 2017 was $478,696, down 0.3 per cent from where it stood a year earlier. This was the first yearover-year decline since February 2013, reflecting fewer sales in the Greater Toronto Area and Greater Vancouver. But, there’s another proverbial but. Benchmark home price growth accelerated in Ottawa, climbing 5.8 per cent overall to $420,335, led by a 6.8-per-cent increase in two-storey single-family homes. Condo prices climbed 2.8 per cent over July 2016 to $267,641. “Ottawa’s consistent, steady growth and relative affordability, compared to regions such as the GTA, has helped contribute to strong consumer confidence in the market,” Christopher
Alexander, regional director, ReMax Integra, Ontario-Atlantic, told NextHome. “Compared to the GTA’s extreme growth over the last several years that has led to affordability concerns for some buyers, Ottawa’s market continues to offer a diverse mix of options for buyers across the market, and helped boost activity in recent months.” So, when you look at real estate markets on a more local basis, things don’t look so bad, eh? 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@ypnexthome.ca or follow him on Twitter at Twitter.com/ WayneKarl
+MORE ADVICE ONLINE nexthome.ca/news/advice
SPOTLIGHT ON
CONDOS
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Your new home on Dow’s Lake
SPOTLIGHT ON
CONDOS
Be a part of something Iconic
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Claridge Homes is raising the bar with a bold, organic tower rising 45 storeys above Ottawa. Claridge has been redefining Ottawa’s skyline for 30 years, and now we’re proud to bring Claridge_Icon to the community. Find your new home in the heart of Little Italy, where stunning views of Dow’s Lake are available for as low as $301,000.
www.claridgeicon.com 485 Preston Street, Ottawa 613.695.1441
UNDER CONSTRUCTION Available April 2020
MOVE IN READY LOCATIONS
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STIRLING PARK
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Studio, 1 & 2 bedroom units starting from $245,000
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URBAN OASIS ON THE EDGE OF DOWNTOWN
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WHEN YOU PURCHASE ANY TWO BEDROOM CONDOMINIUM OR BOUTIQUE TOWNHOME! Purchase and close before October 1, 2017. Conditions apply, see sales representative for more details.
CONDOS
ClaridgeHomes.com Prices and specifications are subject to change without notice. E.&O.E.
SPOTLIGHT ON
FIND YOUR
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TRENDING
CMHC:
STRONG EVIDENCE OF OVERALL PROBLEMATIC CONDITIONS CONTINUES SLOW GROWTH IN THE YOUNG ADULT POPULATION coupled
SPOTLIGHT ON
CONDOS
with a decrease in disposable income and a pickup in home price growth has prompted Canada Mortgage and Housing Corp. (CMHC) to maintain its assessment of “strong evidence of problematic conditions” in Canada’s housing market. “We continue to see moderate overvaluation and price acceleration,” warns Bob Dugan, chief economist at CMHC. “In the first quarter of this year, Canada saw a positive, yet slow growth in the young adult population and a drop in disposable income in all regions except British Columbia. This gives less support to house prices, which picked up again in early 2017 after a period of decline in the back half of 2016.” In Vancouver, “Townhomes and apartments, which typically sell for less than single-detached homes, were in high demand for first-time buyers and families. This
REPORT AT A GLANCE:
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led to multiple-offer situations, increasing prices and moderate evidence of overheating,” says Eric Bond, CMHC’s principal market analyst for the Vancouver region. “The market continues to see moderate price acceleration and overvaluation due to low supply, despite record level construction.” On a quarterly basis, CMHC issues its Housing Market Assessment (HMA) to provide Canadians with both expert and impartial insight and analysis, based on the best data available in Canada. This report acts as an early warning system for the country’s housing markets — an important tool supporting financial and housing market stability. CMHC defines “problematic conditions” as imbalances in the housing market. Imbalances occur when overbuilding, overvaluation, overheating and price acceleration – or combinations thereof – depart significantly from historical averages.
CMHC’s HMA analytical framework is designed to evaluate the extent to which there is evidence of problematic conditions in Canadian housing markets. The framework assesses housing market conditions and considers the incidence, intensity and persistence of four main factors: • Overheating of demand in the housing market, wherein sales significantly outpace new listings. • Acceleration in house prices, which could be partially reflective of speculative activity. • Overvaluation in the level of house prices, which indicates that house price levels are not fully supported by fundamental drivers such as income, mortgage rates and population. • Overbuilding of the housing market, when the rental market vacancy rate and/or the inventory of newly built housing units that are unsold is elevated.
Markets in the Prairies continue to show moderate to strong evidence of overbuilding.
The Vancouver market is now showing moderate evidence of overheating due to townhomes and apartments seeing high demand leading to multiple-offer situations and higher prices.
Overall rating continues to be “strong evidence of problematic conditions.” Evidence of overvaluation at the national level remains moderate and strong evidence is seen in Toronto, Vancouver, Hamilton and Victoria.
Evidence of overbuilding has increased from six centers to seven as Quebec’s rating increases to moderate due to a high number of rental apartment starts outpacing demand.
SPOTLIGHT ON
CONDOS
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WHAT’S ONLINE
TRENDING NOW
SPOTLIGHT ON
CONDOS
THE LATEST REAL ESTATE NEWS FROM ACROSS CANADA
BUY EARLY, IT’S WORTH THE WAIT
SMALL SPACE SURVIVAL TIPS DESIGN PROS TELL ALL!
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DESIGNER YANIC SIMARD TALKS
CUSTOM DESIGN
5 THINGS TO CONSIDER BEFORE GETTING A MORTGAGE
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ADVICE | HOME SMARTS
UNDERSTANDING MODEL HOMES 101: LOOKING PAST THE SURFACE
SPOTLIGHT ON
CONDOS
MARNIE BENNETT
It’s no secret that one of the most enjoyable aspects of shopping for a new home is touring the builder’s decorated models. A well-designed model can help you envision living within its walls, as well as providing excellent inspiration for the decoration of your own space. In these ways, models constitute a valuable resource for purchasers. On the flipside, builders are well aware that model homes are one of the most powerful selling tools at their disposal. It’s clearly in their interests to dress these homes up to the nines – to both increase their appeal and encourage purchasers to splurge on the featured upgrades. They’re banking on an emotional response, and they usually get one. In order to remain objective, what should you be looking for when touring a model home? With the recent proliferation of television shows about staging and “flipping” homes for sale, you’re probably aware that there’s a real science to creating alluring spaces. Through judicious use of colour schemes, mirrors and wellproportioned pieces, decorators are able to make homes appear larger and more luxurious. But it’s the lavish application of upgrades that can be really misleading. Many models feature a laundry list of stunning decorating options: Hardwood and slate
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flooring, stone fireplaces, intricately tiled steam showers and well-finished basements. On the home’s exterior, stone may be substituted for brick, elegant front doors installed and the lawn lushly landscaped. The accumulated cost of so many high-end features can cost more than $250,000 in some cases, depending on the type of housing product you are viewing.
“
Don’t be shy: ask the sales representative to walk you through the home...
”
It’s easy to imagine losing perspective at the prospect of living in such an incredibly appointed home. That’s why it’s crucial to have a grasp on which features are standard and which are upgrades. Don’t be shy: ask the sales representative to walk you through the home and have them write down exactly what is upgraded, and at what cost. If the builder has a design centre, it should be simple to compare standard selections with available upgrades. Go over the standard specifications with a fine-toothed comb, so that you understand exactly what is included in the asking price; ask for a menu of upgrades with clearly marked pricing. Next, take this information home with you and consider carefully. Will this upgrade add
value to my home when I sell it in the future; will it increase my home equity? How much will this feature enhance my lifestyle? Can this feature be easily added at a later date? Be careful not to “over-upgrade” your home. This may seem counter-intuitive but, when it comes to resale value, it’s not necessarily an advantage to own “the castle in the neighbourhood.” Often, those buyers who can afford a spectacular home desire an equally spectacular neighbourhood. As a general rule, upgrades that recoup their initial expense include hardwood floors, fireplaces, finished recreation rooms and double showers in master ensuites. But above all, keep to your budget; you won’t be doing yourself any favours by overextending yourself financially. To receive a free copy of a new special report titled “Homebuyers: How to Save Thousands of Dollars When You Buy” email sales@bennettpros.com Marnie Bennett is a broker and CEO of the Bennett Property Shop Realty, a full premium service real estate brokerage specializing in marketing and selling new and resale homes, condominiums and investment real estate. Marnie is the host of two weekly radio shows Marnie’s Real Estate Hour and The Real Estate Edge, a millionaire real estate investor and a wealth management coach. bennettpros.com
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A FRESH NEW LOOK AT MODERN TOWN HOMES Coming Soon! Fresh Towns, a new community of contemporary and rooftop towns. Imagine owning a brand new modern-styled urban home. Imagine interiors designed around your lifestyle. Imagine kitchens designed for the foodie in you. Imagine a family friendly community close to parks, schools, shops, transit, Highway 416, 417 and downtown.
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TRENDING
USING DEBT TO YOUR ADVANTAGE Going into debt can be good for your retirement. Yes, you read that right For most Canadians, the goal is usually paying down debt – be it a mortgage, car loan or credit cards – not taking on more of it. But, as Canadians grow increasingly concerned about saving for retirement, they can take note of a key message of a new book from Toronto-based wealth planner and mortgage broker Calum Ross: debt can be a key tool to help you achieve your financial goals. Indeed, in The Real Estate Retirement Plan: An Investment and Lifestyle Solution for Canadians, by Ross with Simon Giannini, the lesson is clear – real estate, and the debt you take on
to obtain it, can be central to a successful retirement plan. Written in a clear, understandable and non-intimidating style, The Real Estate Retirement Plan makes a case for borrowing to purchase income-producing investment properties, and borrowing to invest in appreciating assets. Leveraging equity in a principal residence and using it wisely to purchase rental property is the solution to a safe, secure retirement for millions of Canadians. With examples and a detailed discussion of the principles and mechanics, the book helps demystify and make a strong case for borrowing to invest. “There is such a good thing as good debt,” says Ross.
CONDO SALES DRIVE OTTAWA RESALE MARKET MEMBERS OF THE OTTAWA REAL ESTATE BOARD
sold 1,530 residential properties in July through the Board’s Multiple Listing Service System, compared with 1,490 in July 2016, an increase of 2.7 per cent. The five-year average for July sales is 1,446. Condo sales bolstered the resale market in July. “We’ve been seeing this positive trend since February. The condo market [was] in a slump for the past few years because it was overbuilt. Some owners who had difficulty selling their condos rented them instead, thereby decreasing supply. Now as rental leases are coming due, combined with evidence of stronger condo sales, these owners are placing these units back on the market for sale,” says Rick Eisert, president of the Ottawa Real Estate Board. OTTAWA’S CONDO RESALE MARKET AT A GLANCE:
Condos are selling more than 11 per cent faster YOY. The average sale price for a condo was $267,641, an increase of 2.8 per cent YOY.
ARE YOUR BELONGINGS INSURED WHILE MOVING? THE REAL ESTATE MARKET is at its busiest during the summer months. But, many people who are moving – sometimes between provinces – don’t know that their home insurance policies could cover their belongings while in transit. According to a new study by Square One Insurance Services, 80 per cent of Canadians are not properly insuring their belongings while moving to a new home. Most home insurance providers will allow you to transfer your current policy to your new home and insure your belongings while in transit. “If you’re moving to a new home and aren’t transferring your current home insurance policy, then you need to ask your new provider if their policy will cover your personal property during the transition,” says Daniel Mirkovic, president of Square One. “Don’t just assume that’s the case; otherwise, you risk losing your property during the move. Some providers cover the transition, but others don’t.”
1,000,000 +
Condo market sales volume is up 32 per cent YOY, while the residential market is up 16.5 per cent. The most active price point in the condo market is between $150,000 and $249,000, accounting for 50.7 per cent of the market. 16 NextHome.ca
The Real Estate Retirement Plan is available on amazon.ca
Canadians move to new homes within the same province each year
27%
New residents moved to Ontario in 2016, the largest portion of new residents
300,000
Canadians move to different provinces each year
COMMON MOVES 10% 7% 6% Alta. to B.C.
Que. to Ont.
Ont. to Alta.
* FF O 0 00
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INSPIRATION | DESIGN SECRETS
BATH OR SHOWER…? That is the (divisive) question!
WE RECENTLY POSED THE QUESTION, “If you could choose only one – a bath or a shower – which would you prefer? Like an old-fashioned switchboard, our social media channels lit up with opinions. I quickly learned that people can be very hard-lined and protective of their choice when it comes to coming clean. There are shower people and there are tub people. Only a few pushed back, insisting on both. It’s a question I hear with every renovation. Clients want to know if they should replace their tub with one big shower. I usually turn it back around and ask, “Do you prefer a bath or a shower?” It’s a matter of personal taste, depending on what stage of life you’re in, how long you plan to live in the house and many other factors. Most older homes in the GTA have a combination tub-shower in the bathroom. For most of us, this is our default option. Although it may not 18 NextHome.ca
BY JANE LOCKHART
be the best choice stylistically, it’s a great convenience. It provides you with both options in the same amount of space. Had a long day? Take a nice, long soak. Need a quick wake up to get your day started? Hop in the shower. Having a bathtub for small children is usually on a family’s must-have list, even if the parents prefer a shower. If your decision is based strictly on functionality, the shower-bath combo is the way to go.
Which tub works best? Again, it’s personal and it’s not always about function. For some it’s all about form. A free-standing tub, the ultimate spa treat, is a luxury choice – especially if you have the space. Even more decadent is the growing trend of free-standing bathtubs in master bedrooms. Today’s modern tubs are more
than acrylic or porcelain-coated cast iron. Companies such as Victoria + Albert are using highly insulated materials that combine natural materials like volcanic limestone and resin to create a warm-to-the-touch surface. The condo market is different, as units are built almost exclusively with showers only. When space is
at a premium and you’re paying for every square foot, a shower makes more sense. Modern glass doors and great-looking tile help you forget why you’d ever want a tub in the first place. Plus, condo dwellers tend to be urbanites who believe convenience and cost-savings far outweigh the benefits of relaxing in a tub.
If you have a choice of showers, a steam shower is an excellent option to recuperate after a long day at work or a strenuous physical activity. It can reduce stress and muscle aches, and help you to relax. With so many options today, such as body jets, multiple shower heads, high-tech chromotherapy lighting and sophisticated sound systems, showers can be as relaxing as a tub.
When it comes to selecting an option that will give you a better return on your investment, it all depends on the market. With our fast-paced lifestyle, showers tend to be the preferred option, but a family with young kids may opt for a bathtub. The bathtub versus shower question is a personal one. Which would you choose?
Jane Lockhart is founder and principal designer of Jane Lockhart Interior Design. She was creative director and host of W Network’s top-ranked show, Colour Confidential, and has a Canadian-built furniture collection, Jane by Jane Lockhart, by Statum Designs. Visit janelockhart.com
MORE INSPIRATION ONLINE nexthome.ca/inspiration
SEPT 2 - 16, 2017 19
COVER STORY
SPRING VALLEY TRAILS WELCOME HOME TO NATURE
Located at 160 Esterbrook Dr. in the heart of Navan’s magnificent Mer Bleue Conservation area, Spring Valley Trails is a unique community of single detached homes and townhomes that is perfect for the outdoor enthusiast. Experience stunning views, enjoy sprawling parkland and explore countless walking trails, all within minutes of your home. Spring Valley Trails is the perfect fit for your active lifestyle. Claridge is releasing 41 brand new townhome lots on Lucknow Court just off of Joshua Street. There is plenty of outdoor space for you and your family to grow with a limited number of premium lots available, including corner lots, end lots and extra-long lots. There are 14 different townhome models available at Spring 20 NextHome.ca
Valley Trails. Homes range in size from 1,620 sq. ft. up to an expansive 2,325 sq. ft. There are a variety of models and floorplans to choose from, including threebedrooms with 1.5 bathrooms and four-bedrooms with 2.5 bathrooms. Prices start as low as $309,900 for these spacious homes. Every home comes with four kitchen appliances, backsplash in the kitchen, hardwood flooring in the living room and dining room, ceramic flooring in the kitchen, breakfast area and all bathrooms. Buyers can also opt for a doublecar garage townhome model. There are also a few single-family home lots available for those who need the extra space. Come by the sales centre and walk through eight beautifully
decorated model homes, six townhomes and two singles. The colour scheme, modern cabinetry and open-concept flow will welcome and inspire. You can easily imagine yourself enjoying your morning coffee at the breakfast bar or reading the paper in your quiet backyard. Spring Valley Trails is ideal for all walks of life: whether you’re a young professional, a busy family or a downsizer. Spring Valley Trails is minutes from all the major shopping centres, schools and amenities that Orleans has to offer. With easy access to Hwy. 417, the rest of the city is only a short drive away. This new community will include a large park with tennis courts, soccer fields, play structures and a splash pad. There is plenty of space for you and your family to
live and play. This nature oasis is the ideal mix of urban and rural living. What better environment for your children to experience in their primary years. An award-winning leader in the Ottawa residential development market, Claridge Homes was incorporated in 1986 by founder and President Bill Malhotra.
Claridge Homes delivers the lifestyle you want, at a price you can afford. In addition to delivering some of the best locations for new homes and condos in Ottawa, Claridge is a well-known builder offering exceptional value. Including a variety of luxurious features as part of its standard package is just one way Claridge
stands out to new buyers in delivering great value. For more information about Spring Valley Trails, please visit the sales centre or call a sales representative. Mention this article in NextHome magazine when purchasing your new home and you will receive a $500 design bonus.
+
LOCATION Navan DEVELOPER Claridge Homes DEVELOPMENT Spring Valley Trails HOME TYPE Townhomes, singles and bungalows
SALES CENTRE
160 Esterbrook D., open Monday to Wednesday 1 to 8 p.m., Saturday and Sunday noon to 5 p.m. CONTACT 613.841.0560 claridgehomes.com
SEPT 2 - 16, 2017 21
HOT PROPERTIES
FIND YOUR NEXT HOME This page features a few of the latest properties to keep your eye on in the Eastern Ontario area.
SPRING VALLEY TRAILS BY CLARIDGE HOMES
AVALON ENCORE By: Minto City: Orléans Housing type: Singles, townhomes Contact: 613.834.6400 minto.com
EQUINELLE
HARMONY
By: eQ Homes City: Kemptville Housing type: Singles Contact: 613.258.6488 eqhomes.ca
By: Minto City: Barrhaven Housing type: Singles, townhomes Contact: 613.789.7977 mintoharmony.com
FELTON COURT
ICON
By: Valecraft Homes City: Ottawa Housing type: Terrace Home Contact: 613.680.4771 valecraft.com
By: Phoenix Homes City: Barrhaven Housing type: Townhomes Contact: phoenixhomes.ca
By: Claridge Homes City: Ottawa Housing type: Condominium Contact: 613.695.1441 claridgeicon.com
BLACKSTONE
By: Tamarack Homes City: Orléans Housing type: Townhomes Contact: 613.422.5925 tamarackhomes.com
AVIATION PRIVATE
By: Cardel Homes City: Kanata South Housing type: Singles Contact: 613.836.9521 cardelhomes.com
CARLETON CROSSING By: Brigil City: Stittsville Housing type: Singles Contact: 613.257.4079 brigil.com 22 NextHome.ca
GALLERY TOWNHOMES
GOTHAM By: Lamb City: Ottawa Housing type: Condominiums Contact: 613.257.8887 gothamottawa.com
MAHOGANY By: Minto City: Manotick Housing type: Singles Contact: 613.788.2776 mintomahogany.com
MILLER’S CROSSING By: Cardel Homes City: Carleton Place Housing type: Singles, Townhomes Contact: 613.836.9521 cardelhomes.com
THE CORNERS ON MAIN BY DOMICILE
ON HALF MOON BAY
SUNDANCE
THE CORNERS ON MAIN
By: Mattamy City: Barrhaven Housing type: Singles, townhomes Contact: 613.825.7932 mattamyhomes.com
By: Claridge Homes City: Ottawa Housing type: Singles Contact: 613.425.1332 claridgehomes.com
By: Domicile City: Ottawa Housing type: Condominium Contact: 613.806.6246 cornersonmain.ca
POTTER’S KEY
TALL SHIPS LANDING
TIMBERWOOD TOWNS
By: Minto City: Stittsville Housing type: Singles Contact: 613.788.2761 minto.com
By: Thomas Fuller Construction Ltd. City: Brockville Housing type: Condominium Contact: 613.498.7245 tallshipslanding@fuller.ca tallshipslanding.com
By: Greatwise City: Ottawa West Housing type: Freehold Towns Contact: 613.693.0808 twtowns.com
RATHWELL LANDING
TRIBECA LOFTS
By: Valecraft Homes City: Stittsville Housing type: Bungalows, townhomes Contact: 613.435.8141 valecraft.com
TERRACES AT GREYSTONE By: eQ Homes City: Greystone Housing type: Condominium Contact: greystonevillage.ca
By: Claridge Homes City: Ottawa Housing type: Condominium Contact: 613.234.1780 claridgetribecalofts.com
SOHO CHAMPAGNE
THE BOWERY CONDOS & LOFTS
WHITE TAIL RIDGE
By: Mastercraft Starwood City: West Central Housing type: Luxury condominiums Contact: sohochampagne.com
By: Richcraft City: Centretown Housing type: Condominiums Contact: 613.695.7577 thebowerycondos.ca
By: Phoenix Homes City: Almonte Housing type: Bungalows and singles Contact: Kellie Connors 613.461.0277 phoenixhomes.ca
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BUILDERS: IF YOU WOULD LIKE TO INCLUDE YOUR PREVIEW REGISTRATION, NEW RELEASE OR SITE OPENING IN THIS FEATURE, JUST EMAIL THE DETAILS TO SARAH.KHAN@YPNEXTHOME.CA SEPT 2 - 16, 2017 23
et a
Builder Name
Site Name
Almonte
Phoenix Homes
White Tail Ridge
x
Carleton Place
Brigil
Carleton Crossing
x
Carleton Place
Cardel Homes
Miller's Crossing
x
Carp
Phoenix Homes
Diamondview Estates
x
Hunt Club
Claridge Homes
Hunt Club Flats
Kanata
Claridge Homes
Bridlewood Trails
Kanata
Phoenix Homes
Fernbank
Kanata
Phoenix Homes
Terra Flats
Stittsville
Mattamy
Traditions II
Stittsville
Minto
Barrhaven
D
Location
c Se he m d B i un g To alo w w n A h om du e/ lt Li Co fe n st do yl e
INDEX OF ADVERTISERS
Prices
Page
WEST x
From $390's
12, 13
x
From $290's
17
x
Inquire
11
From $400's
12, 13
x
From $277,900
6, 7
x
From $391,900
6, 7
From $350's
12, 13
x
From $200's
12, 13
x
x
From $321,990
4, 5
Potter's Key
x
x
From $344,900
2, 3
Claridge Homes
West Pointe Village
x
x
From $602,900
6, 7
Barrhaven
Minto
Quinn's Pointe
x
x
From $254,500
2, 3
Barrhaven
Minto
Harmony
x
x
Inquire
2, 3
Barrhaven
Phoenix Homes
Felton Court
x
From $270's
12, 13
Barrhaven
Phoenix Homes
Strandherd Meadows
Inquire
12, 13
Findlay Creek
Phoenix Homes
Pathways
From $200's
12, 13
Kemptville
eQ Homes
eQuinelle
x
From $349,900
9
Ottawa South
Claridge Homes
Summerhill Village
x
From $536,900
6, 7
Ottawa South
Claridge Homes
Sundance
x
From $592,900
6, 7
Brigil
Plateau Du Parc
From $340's
17
Navan
Claridge
Spring Valley Trails
x
From $292,900
6, 7
Orléans
Claridge
Royal Ridge
x
From $199,900
6, 7
Orléans
Minto
Avalon Encore
x
From $285,900
2, 3
Orléans
Phoenix Homes
Halo Flats
x
From $200's
12, 13
x
x
x
x
SOUTH
x x
x
x
NORTH Gatineau
x
EAST
24 NextHome.ca
x
x
c Se he m d B i un g To alo w w n A h om du e/ lt Li Co fe n st do yl e
Site Name
et a
Builder Name
D
Location
Prices
Page
CENTRAL Ottawa
Valecraft
Aviation Private
Ottawa
Greatwise Development
Fresh Towns
Brockville
Fuller
Downtown
x
From $302,900
14
x
From $299,990
15
Tall Ships Landing
x
Inquire
C15
Claridge Homes
Icon
x
From $291,000
C8, C9
Downtown
Claridge Homes
The Lofts
x
From $400's
C8, C9
Downtown
Claridge Homes
Tribeca
x
From $345,000
C8, C9
Downtown
Richcraft
The Bowery
x
From $194,000
C13
Gatineau
Brigil
Domaine Du Vieux-Port
x
From $260's
17
Gatineau
Brigil
Horizon
x
Inquire
17
Gatineau
Brigil
Jardins McConnell
x
Inquire
17
Kanata
Cardel
Blackstone
x
From $300's
C2
Orléans
Brigil
Petrie's Landing
x
From $230's
17
Ottawa Central
Brigil
Kanata Lakes
x
Inquire
17
Ottawa Central
Claridge Homes
Claridge Plaza 3 & 4
x
From $232,000
C8, C9
Ottawa Central
Claridge Homes
Fusion
x
From $282,000
C8, C9
Ottawa Central
Claridge Homes
Waterstreet
x
From $250,000
C8, C9
Ottawa Central
Mastercraft Starwood
Soho Champagne
x
From $302,900
C16
Ottawa East
Domicile Development Inc
The Corners On Main
x
From Low $300's
C3
Ottawa West
Tamarack
Wellington
x
From $299,068
BC
West Nepean
Claridge Homes
Stirling Park
x
From $279,000
C8, C9
West Ottawa
eQ Homes
Terrace At Greystone
x
From $199,900
C11
CONDO
SEPT 2 - 16, 2017 25
THE LAST WORD
Q&A WITH
DON. R. CAMPBELL REAL ESTATE INVESTOR, EDUCATOR AND AUTHOR BY WAYNE KARL
NEXTHOME: You recently said that Ontario’s Fair Housing Plan would
cause five consequences: higher tenant turnover and rents; market fear and overreaction, due to the Foreign Buyers’ Tax; more long-term investors exiting the market; more speculators exiting the market; and purpose-built rentals put on hold. What’s your batting average so far? DON CAMPBELL: Although people like to hear forecasts of what’s going to happen next week or month, our focus has always been to analyze the long-term impact of policies, economies and demographics on real estate markets. Real estate and property markets always ebb and flow, which means if an investor or homeowner is making a “buy/sell” decision based on one report, they don’t understand how markets work. However, there are “policies” that can throw a market off of its cycle trend, despite all the background economic and demographic drivers lining up. These policies are defined as “market influencers,” and because they are random and often politically based, they can have dramatic and sometimes irreversible negative unintended consequences on the health of a market. Ontario’s Fair Housing Plan is one of those. Purporting to help renters, many of the policies within the bill will eventually have a negative impact on renters and will not make housing more affordable in the target regions. NH: No one seems to win in the above scenarios, so what’s the point of
the Fair Housing Plan? DC: Although the name of the bill is “Fair Housing Plan,” the unintended
consequences won’t be pretty for anyone except one small group, the politicians who are “appearing” to be doing something. Given the fact that most people won’t read the full bill, nor even dive beyond the headlines, this will probably work for that group, while the rest have to live with the long-term consequences. Possible scenarios that are very likely over the coming years – none of them positive – include: 1. The adoption of this plan leads to current landlords quickly raising
their rents to at or above-market, so they do not find themselves locked-in at a below-market rent for years (many landlords keep their rents below market because they have a strong relationship with, and appreciation for, their long-term tenants), but given the new rules and continuing increase in interest rates, this may become an untenable situation, sadly. 26 NextHome.ca
2. According to the Ontario government’s own numbers, there are now more than 120,000 people in the Greater Toronto and Hamilton Area who own more than more residential property. This means that even if only 75 per cent of those properties are rentals, independent citizens are providing 90,000 needed rentals in the area. That’s much more than any REIT or developer has been providing with rental specific buildings. Under the new rules, many of these independent owners will end up choosing to exit the market, selling their units and thus lowering the number of available rentals. 3. A lower supply of rentals will also occur, because with the new caps on market rental increases, many major developers have taken rental specific buildings off their immediate plans due to the economics. 4. The dramatic increase in costs associated with operating a quality, clean and safe rental will also reduce the number of people willing to own and operate such properties. This will lead to poorer rentals and more landlord-tenant disputes.
Although the name of the bill is “Fair Housing Plan,” the unintended consequences won’t be pretty for anyone except one small group, the politicians who are “appearing” to be doing something.
5. As interest rates rise and the
DC: Given the “optically
federal government mandates tighter controls on mortgage qualification, there will be fewer opportunities for Canadians to buy a home, especially the large cohort of Millennials who are entering this phase of their lives. This is true no matter if the average price in the market slips or not. This, of course, then leads to more renters, right as the Ontario government puts in policies that will reduce the number of rentals available.
driven” policy decisions we are witnessing across the country, it is really anyone’s guess what the announcements will be. But when the policies are announced and details released, we will be analyzing it in great detail.
NH: Where are the opportunities for investors – and primary homebuyers – in Ontario now, given all this change and uncertainty. Ottawa, for example, has long been a slow and steady performer…
NH: You have always said that the health of any real estate market depends on the economic fundamentals. There’s been a recent spike of activity from foreign buyers, and therefore prices, in Montreal. Does the economy and growth there actually warrant such activity, or is it more of a case of these buyers moving their capital from Vancouver and Toronto, to Montreal? How do you see this playing out?
DC: As with all market shifts and
DC: Montreal has quietly been
changes, opportunities will arise (unless further political action is deemed necessary). The hunt for yield will continue for investors, and capital has a way of finding places to deploy – Ottawa being one of the more obvious ones, especially along the new LRT lines. Also look in areas of Ontario where there is committed GO Train and post-secondary expansion.
a magnet for foreign capital, especially European, for many years. But now that Canada has become a “safe haven” for capital – not because we are better than before, but because many regions of the world have become more volatile – capital flow for both real estate and our companies is on the rise. When the Foreign Buyers’ Tax was implemented in Vancouver, that
NH: We’re supposed to see a National Housing Strategy at some point this year. What do you expect from it?
capital moved to other regions for a while, but has now come back. The same will prove true for GTHA – a lull as the air clears but then the flow will return. Montreal, with no foreigner tax, is just another place capital is finding as a resting place. The fact is, we live in interesting times, and, frankly, after analyzing markets for more than 25 years, Canada always seems to be living in interesting times.
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