Eastern Ontario New Home & Condo Guide - Nov 16, 2013 by NextHome

November 16 - 30, 2013 Volume 13 Issue 21

Eastern Ontario Edition

Your Best Source for New Homes and Condos

Live-Outside-The-Box

“Dare to Compare”

inside this issue

THE BENEFITS OF MASTERPLANNED COMMUNITIES

TIPS TO GUIDE YOUR FIRST HOMEBUYING DECISION

SEPARATING FACT FROM FICTION FOR FIRST-TIME BUYERS

ERE,

139 Charlie’s Lane Carp 613 839 6675

LAST CHANCE

ONLY THREE LEFT! DON’T MISS OUT ON YOUR DREAM HOME. Enjoy a walk-out basement facing a beautiful pond. These elegant 2-storey homes and bungalows blend modern sophistication with pastoral surroundings for an uncompromising sense of luxury. From $514,900.

you can have character without compromise

W W W.HOLITZNER.COM VISIT A HOLITZNER SALES CENTRE & TOUR OUR MODEL HOME TODAY! Saturday & Sunday: Noon to 5pm

OTHER HOLITZNER COMMUNITIES CUSTOM HOME OPPORTUNITY Build the Holitzner home you want on our new Kanata development site! Two 50' x 123' lots available for a customized Holitzner home. 613 839 6675 ENERGY STAR®

standard in all Holitzner homes. The ENERGY STAR® mark is administered and promoted in Canada by Natural Resources Canada.

mattamyhomes.com

Today We Invite You To Enjoy Natural Living In Our New Detached Home Release.

Stony Swamp In Monahan Landing.

lus Save Up To $26,000 On Select Townhomes & $42,000 On Select Detached Homes.

Monahan Landing is a special haven of natural beauty and superbly styled homes. The streets are filled with architectural diversity and the neighbourhood is filled with parks, playgrounds and walking/biking trails. You can even enjoy the raw beauty of Stony Swamp just across the way. Right now you’ll find a new release of distinctive Detached Homes as well as great savings and special incentives on selected homes. Come and see the many attractions of life in Monahan Landing and save on your new home. nk ba ia e ot lac Sc P . m Dr adiu Pall

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Townhomes From $249,990 · Detached Homes From $309,990

Double Car Garage Home, The Marigold Corner ‘A’, 3-Storey Townhome, The Maple ‘B’, 1,710 Sq.Ft., $354,990 1,544 Sq.Ft., $259,990 Includes: $10,000 To Spend At Décor, 9' Ceilings On Includes: 3 Stainless Steel Appliances, Granite Countertops In Kitchen, Kitchen Backsplash, Hardwood Main Floor, Granite Countertops In Kitchen, Hardwood Temporary Monahan Landing Floors In Lieu Of Carpet On Main & Air Conditioning. In Lieu Of Carpet On Second Floor And Kitchen, Sales Centre: Ceramic Tile In Lieu Of Vinyl, Hearth And Home Great 1776 Maple Grove Road, Kanata, 613.831.9369 Room PPO & Bath Oasis PPO. 6

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

BARRHAVEN

KANATA

Save Up To $25,000 On Select Townhomes & $40,000 On Select Detached Homes.

Save Up To $37,000 On Select Townhomes.

2 NEW MODEL HO ME S N O W O PE N !

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Half Moon Bay Sales Centre: 3454 Greenbank Road, Barrhaven, 613.825.7932

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Townhomes From $239,990 · Detached Homes From $306,990

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Townhomes From $228,990

Sales Office

Fairwinds Sales Centre: 1776 Maple Grove Road, Kanata, 613.831.9369

Elev. ‘A’ Elev. ‘A’

2-Storey Townhome, The Chestnut ‘A’, 1,242 Sq.Ft., $254,990 Includes: $10,000 To Spend At Décor, 3 Stainless Steel Appliances & Granite Countertops In Kitchen.

Village Home, The Mulberry Corner ‘A’, 1,366 Sq.Ft., $249,990 Includes: $5,000 To Spend At Décor, 3 Stainless Steel Appliances, Granite Countertops In Kitchen & Air Conditioning. Elev. ‘B’

Single Car Garage Home, The Primrose ‘B’, 1,862 Sq.Ft., $339,990 Includes: 9' Ceilings On Main Floor, Granite Countertops In Kitchen, Hardwood In Lieu Of Carpet In Great/Dining Room & Rec. Room Ready PPO.

Urban Townhome, The Fernvalley Corner ‘B’, 1,750 Sq.Ft., $284,990 Includes: 3 Stainless Steel Appliances, Granite Countertops In Kitchen, Hardwood Floors In Lieu Of Carpet Plus Kitchen & Ceramic Tile In Lieu Of Vinyl.

Sales Centre Hours: Monday to Thursday 1pm-8pm; Friday 1pm-6pm; Saturday, Sunday and Holidays 11am-6pm Follow us:

Iconic homes and communities

SALES CENTRE

SA L E S C E N TR E N O W OP E N 3699 Jockvale Road (near Stonebridge)

Contemporary living in Barrhaven, close to parkland and the Rideau River. SALES CENTRE

417

Elegant new homes in Kanata, designed by Barry Hobin. (613.853.4302) MODELS

416

Stunning Estate homes, minutes from Manotick Village. (613.491.2277)

Urban living in Westboro, close to the Ottawa River pathways.

View our communities at uniformdevelopments.com

U N I Q U E

B Y

D E S I G N 9

contents

November 16 - 30, 2013

volume 13 issue 21

cover story

p. 26

longwood homes Price, value and location make Sonia by the Rideau the “best kept secret in Ottawa”

C04

c24 vice-president, Wall2wall media

Jacqueline Hill

Director of sales, national

Josh Heppner

Sales Manager, Eastern Ontario

Paul Bimm

editor-in-chief / director of content

Susan Legge art director

Bianca DiPietro editor

Wayne Karl contributing editors

Sara Duck, Elisa Krovblit, Lydia McNutt sales co-ordinator, eastern Ontario

Nash Kamaludin

regular features

Manager of production

Bala Gnanapandithan

Condo Insert | C01-C28 Spotlight on Condos: Your

guide to new condo communities in the Gatineau and Greater Ottawa Area 12 editor’s note C08 in the news

U.S. demand to drive Ontario economic growth: BMO

C16 fundamentally speaking

Four tips to help guide your first homebuying decision by Wayne Karl

C26 home smarts

Master-planned communities: what do they have to offer? Golden age

by Sara Duck

32 Finances

How to take finances from “yours” and “mine” to “ours” at any age

34 The mortgage minute

Separating fact from fiction for first-time buyers

C22 in the news

Tarion to provide consumers more transparency when buying a home

C24 in the news

by Peter Kinch

38 hot sheet

Two pages of community previews and openings

Canadians reducing their debt by spending less: RBC poll

community focus features C06 theberge homes Huntclub Towns – far from ordinary but close to everything

Dennis Ng

graphic designer

Mike Terentiev Published by

by Marnie Bennett

30 Editor’s choice

C18 in the news

Bank of Canada holds interest rate, drops forward guidance

Production Co-ordinator

longwood homes

Sonia by the Rideau the “best kept secret in Ottawa”

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

newhomeandcondoguide.com 1 Raymond St., Ste. 300 Ottawa, Ontario K1R 1A2 Phone: 613.729.1221 Published Saturdays, 2013 Publishing Schedule: Bi-weekly Jan.-June and Aug.-Nov. Monthly: July & Dec. 1 Circulation: Free distribution in street boxes, stores, banks and financial institutions. Terms: Advertisers, editorial content and New Home & Condo Guide 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 address shown. The views and data expressed by columnists do not necessarily represent those of the publication. Copyright 2013: All rights reserved by New Home & Condo Guide, Toronto, Ontario. Reproduction in any form is prohibited. Contents of this publication are covered by Copyright and offenders will be prosecuted under the law. The views and data expressed by columnists do not necessarily represent those of the publication. Wall2Wall Media is a trademark of Yellow Pages Group Co. in Canada. Please recycle this magazine! Wall2Wall Media participates in the Partners In Growth Reforestation Program through St. Joseph Communications. To date, Partners in Growth has planted over two million trees in parks, recreation and conservation areas, and other public spaces across Canada. Established in 1990, this program was started with Scouts Canada to help replenish the environment.

All over Ottawa, there’s a Cardel to call home. Stunning riverfront lots – 80% sold

Kanata’s newest masterplanned community

Only 1 extra-wide 65' lot left and 1 model home

CARLETON pLACE

KANATA

RICHMOND

Just 5 lots left in this prestigious community

2 brand new model homes now open

Exclusive enclave of homes coming soon

STITTSVILLE

KANATA

BARRHAVEN

Visit us online for community details, interactive floorplans and much more.

SINGLE FAMILY

CONDOS + TOWNS

CUSTOM HOMES

Built for real life. CARDELHOMES.COM

editor’snote

Think you can’t afford a home? It’s more affordable than you first thought

uch like that bank commercial that says, “You’re richer than you think,” a new home may be more affordable than you originally thought. Perhaps you need only to change your definition of “home” to get into the market. While a detached home is the traditional choice for many, highrise and lowrise suites, lofts and townhomes have become a prime choice among first-time buyers and empty nesters in the market for new place to call home. Not only does townhouse and condominium living afford you the opportunity to live in a prime neighbourhood at a great starting price, when it’s time to move you can often opt to remain in the same neighbourhood, since many communities offer a mix of designs and sizes, which allows families to relocate easily without having to change jobs or schools. Today’s communities generally have a range of sizes and prices that start at the “affordable” end of the price spectrum. Many builders and developers are gearing up for their grand openings and have new communities available for quick occupancy. It’s an exciting time to be shopping for a new place, so don’t miss this excellent buying opportunity. Have a look through this issue and see what you think. The home of your dreams is waiting.

Susan Legge Editor-in-chief Wall2Wall Media, Susan.Legge@wall2wallmedia.com Follow me on Twitter at Twitter.com/SusanLegge

Be prepared

This adage is never more true than when buying your first home

he moment you decide to buy your first home is an important one – from getting your finances in order, to learning about mortgages, to researching builders and to getting out there to look at potential communities. Indeed, the excitement grows at every step. Buying your first home can also be an emotional experience. There will be houses you fall in love with, communities you really want to live in and neighbours you can envision befriending. As exciting as all of this is, it’s also important to not let your emotions get carried away – to buy more with your heart than your head. This is why you should take your time, do your research and conduct due diligence on every development, builder and home you consider. This issue of New Home & Condo Guide, like all editions we put together, contains a variety of content to guide you through this process. Our goal is to help identify subjects, neighbourhoods, communities, housing types and builders for you to consider – in short, to help you prepare. With this knowledge, and your own enthusiasm, you’re well on your way!

Wayne Karl Editor Wall2Wall Media, wayne.karl@wall2wallmedia.com Follow me on Twitter at Twitter.com/WayneKarl

12 New home & Condo guide eastern Ontario | nov 16 - 30, 2013

bungalows in chapman mills, avalon & morris village

A limited number of beautifully-designed 2 bedroom bungalows are now available. 9â&#x20AC;&#x2122; ceilings and ceramic in all wet areas are standard features in these stunning Minto bungalows. From 1,448 to 1,537 sq. ft. Visit our sales centre today. chapman mills sales centre 102 Southam Way, Nepean 613.823.1900

avalon sales centre 204 Monaco Place, OrlĂŠans 613.834.6400

morris village sales centre 217 Sterling Avenue, Rockland 613.788.2774

Bungalows from $399,900

Bungalows from $389,900

Bungalows from $339,900

Monday-Thursday 12-8 p.m. weekends & holidays 12-5:30 p.m. closed Friday

ottawahomes.minto.com

Proud builder of the CHEO Dream Home

QUICK MOVE-INS now available across the city. Enjoy up to $20,000 in Decor Dollars.

ClaridgeHomes.com Prices and speciďŹ cations are subject to change without notice. E. & O. E.

Live where nature is king and imaginations soar Tour our SIX TOWNHOME and THREE Designer Decorated Model Homes today NAVAN Located in Navan’s magniﬁcient Mer Bleue conservation area, this unique community of single detached homes, bungalows and townhomes is perfect for the outdoor enthusiast. Contact our Sales Centre today and discover which one is the perfect place for you. Quick move-ins available.

$276,900 Singles & Bungalows from $366,900 Towns from

422 DOVEHAVEN ST. 613 841 0560

The Rome. B Elevation

BARRHAVEN

FINDLAY CREEK

RIVERSIDE SOUTH

Towns from $281,900

Towns from $309,900

Singles & Bungalows from $361,900

Singles & Bungalows from $371,900

Towns from $280,900 Singles & Bungalows from $366,900

118 MARAVISTA DR. 613 823 6767

401 FERNSIDE ST. 613 425 1332

585 SUMMERHILL ST. 613 822 6444

KANATA

HUNT CLUB

ORLEANS

Zens Urban Flats from $200,900 Towns from $279,900

Condo Flats from $290,900

Zens Urban Flats from $205,900

200 ARRITA ST. 613 591 0448

210 KIWANIS CRT. 613 249 0704

376 ANTIGONISH AVE. 613 834 3488

Imagine your new life begins here! • Fabulous MODEL SUITE. One-of-a-kind features! Must be seen! • Quiet location, only from Downtown • Walk to Rideau River par kland, shopping and restaurants • Best value in the city!

From $219,900

Actual Photo of One Bedroom Model Suite with European Extenzo®Ceiling. Free Extenzo® Ceiling in next ten units sold.

350 Montgomery off McArthur www.SoniaCondos.com 613. 421.9736 SalesSonia@longwoodbuilders.com

Immediate Occupancy! 8 Remaining

Model Suites Now Open Come home to Montage. Condominiums by Longwood. Just 5 minutes walk from Billings off Bank at Ohio. If you lived here, you’d be home by now.

www.montagecondos.ca 613.897.0044 SalesMontage@longwoodbuilders.com

MORRIS VILLAGE in Rockland Single Homes / Bungalows 613.446.1506 SalesMorris@longwoodbuilders.com longwoodbuilders.com/morrisvillage Best value for growing families. DORIMA Terrace Homes Tenth Line at Innes in Orleans 613.424.2901 • dorima.ca d.mcfee@longwoodbuilders.com Priced for First Time Buyers! Investors! Now Under Construction for early 2014 Occupancy! DEEVY’S HOMESTEAD in Kanata Adult Lifestyle Bungalows 613.435.2155 salesdeevys@longwoodbuilders.com deevyshomestead.com Under Construction . Act Now!

ONLY 8 REMAINING REMAiNING

NEIGHBOURHOODS of Hunt Club Adult Lifestyle Bungalows 613.738.1349 d.greene@longwoodbuilders.com longwoodbuilders.com/huntclub MODEL HOME NOW OPEN!

Quarter Century Builder

www. longwoodbuilders.com

we won't charge you extra for your custom design Choose one of our many models Bring us your design Custom modifications to any models or designs Creation of a new custom design just for you ... all this as part of our service at no extra chaRge. Meet directly with owner Pierre, owner Michel or VP Stephan

Located off Carp Rd between Stittsville and Carp D

SOL

D OLD S

SOL

D SOL

SOL

• 22 lots in a Private Cul-de-sac • 2 to 4 acres country Estate Lots (well & septic) • Underground services with Natural Gas and High Speed Internet • Open and partially or fully treed lots • Walking trails with access to lake and creek • 5 minutes from Kanata Centrum

6 LOCATIONS • CUMBERLAND: Camelot Estates: 2 acres Estate Lots. From the high $600's. • NAVAN: Mustang St.: ½ acre fully treed private Estate Lot. From the high $600's. • OTTAWA: Westboro: 2 luxury semi-detached homes. From the high $600's. • STITTSVILLE: Deer Run: 41’ to 54’ wide lots in a private crescent. From the mid $400's. • CARP: Westlake South Estates: 2 to 4 acres private Cul-de-sac Estate Lots. From the mid $500's. • ON YOUR OWN LOT

(613) 296-7000

MetricHomes.com

2 QUICK OCCUPANCY HOMEs FOR SALE IN STITTSVILLE FROM $529,900

18 New home & Condo guide eastern Ontario | nov 16 - 30, 2013

Quarry Glen Gallery Suites, from $189,900 Dual Terrace Homes from $238,100

Find the perFect Gallery Suite. • 1-2 bedrooms and 1-2 bathrooms • Efficiently designed living space • Generous balcony • Choose from one of two different single-storey floorplans • Convenience of elevator • LEED® Certification reduces your energy consumption by over 30% chooSe the dual terrace home that beSt FitS your liFe. • 2 & 3 bedrooms and 2 bedrooms plus den • Over 1,120 square feet of living space • Choose from one of four upper and lower two-storey floorplans • LEED® Certification reduces your energy consumption by over 30%

final release. 5% down on selected units. last chance to buy.

mintoquarryglen.com

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Subject to change without notice. E & OE

CHA

277A Titanium Private, Orléans Monday-Wednesday 12-8 p.m. weekends & holidays 12-5:30 p.m. closed Thursday & Friday 613.696.3328

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QUARRY GLEN SALES cENtRE

limited time. up to $15,000

Design centre bonus.*

SINGLES from $374,900 towNhomES from $300,150

ottawahomes.minto.com

*Certain exclusions apply. Please see sales representative for details. E. & O.E. 10.07.2013

ArcAdiA SAleS centre 360 Huntmar Drive, Kanata Monday-Thursday 12-8 p.m. weekends & holidays 12-5:30 p.m. closed Friday 613.788.2770 Proud builder of the CHEO Dream Home

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spotlight on condos Eastern Edition

November 16 - 30, 2013

Your Pull-Out Guide to highrise, conversion, loft, terrace & townhome condo projects

W NO

E P O

BECAUSE THE DOOR TO

NEW EDINBURGH

IS NOW OPEN

DO YOU DREAM OF LIVING IN NEW EDINBURGH?

spotlight on condos

Now you can. Choose your dream home from a stunning selection of floor plans from over 500 sq. ft. to 1900 sq. ft., including newly released floors and terrace suites. With prices starting from the low $300s, this is your chance to live with style in one of Ottawa’s most desirable neighbourhoods. For those who set the pace, instead of following the pack. For those who know to open the door when opportunity knocks.

You only get one life. Have no regrets. Visit our Sales Office at: 7 Beechwood Ave. (Beechwood and MacKay) Monday to Thursday Noon - 7pm. Weekends and Holidays 11 am to 5 pm. Fridays closed.

mintobeechwood.com

613.696.8188

Prices, sizes and specifications are subject to change without notice. Illustrations are artist’s concept. E. & O. E.

spotlight on condos

Huntclub Towns

spotlight on condos

Far From Ordinary, but Close to Everything

Location Ottawa housing type Freehold Towns and Terrace Towns sales office 3700 Downpatrick Rd. contact 613.680.5767

heberge Homes, in collaboration with The Bennett Property Shop Realty and Roderick Lahey Architect Inc., is excited to announce their latest project, Huntclub Towns. Located at the corner of Uplands Drive and Downpatrick Road, this newest addition to the Ottawa market is sure to attract buyers looking for a chic, urban, boutique-style townhome. Just minutes from downtown, Huntclub Towns offers shopping, great dining and entertainment all at your fingertips. These homes are in an ideal location, providing buyers with the perfect urban lifestyle. This new development provides unparalleled convenience with unlimited stores, cafes, restaurants, parks and activities just steps away. Buyers have the perks of urban living, without

THEBERGE HOMES Huntclub Towns

Buyers have the perks of urban living, without having to sacrifice green space; there are parks, trails and bike paths all nearby, providing you with the perfect setting to relax and unwind.

having to sacrifice greenspace; there are parks, trails and bike paths all nearby, providing you with the perfect setting to relax and unwind. Take one look at the plans for this new build and you will at once be impressed with the shockingly-chic exterior design. With modern and sleek dramatic angled rooflines, wood and metal accents and elegant brick veneers, Huntclub Towns defines sophisticated modern styling. These upscale town and terrace homes feature innovative floorplans with interior finishes that are sure to impress. Contemporarystyled town and terrace homes offer the latest in kitchen and bath design the leaves nothing to the imagination. With 18 different floorplans to choose from, you are sure to find the one that fits your needs. You can choose from a twobedroom to a three-bedroom plus den, with square footage ranging from 882 to 1,562. You can opt for a terrace townhome, or a freehold townhome plan for more space. All townhomes have a single-car garage, and all homes come with outdoor terraces or balconies, and the majority of the homes have exterior yards perfect for entertaining family and friends. The project has 67 homes for sale in a number of different blocks. Occupancy will be as early as November 2014. There is also commercial space included in the plans, providing buyers with many of their shopping needs. Huntclub Towns offers the perfect modern lifestyle and the convenience of low maintenance ownership without the high monthly condo fees normally associated with upscale urban condos. Prices start at $225,900, which includes parking and appliances. Theberge Homes is known for its meticulous attention to details with a contemporary finish. The company builds homes with the buyer in mind. Huntclub Towns aren’t simply homes, they provide buyers with a new lifestyle. You are stepping into a new community where neighbourhood

barbecues are not just an expression, they are a reality. You have amenities and green space, all right outside your front door. This is urban living at its finest. HuntClub Towns offers the very best in upscale contemporary townhomes and terraces. You have the opportunity to live in the city with all the conveniences life has to offer right at your doorstep. If it’s heading out to catch a flight for business or a dream vacation or maybe just the next bus or train downtown, HuntClub Towns has a location that can’t be beat. Don’t miss out on your opportunity to own your own modern-chic home only minutes from downtown. Visit the website at huntclubtowns.com and register to receive VIP pricing. Be the first the choose from a wide array of layout plans! These spectacular condos will launch Nov. 16 at noon! Come and visit the sales centre at 3700 Downpatrick Rd. For more information, please call 613.680.5767.

Nov 16 - 30, 2013 | New home & Condo guide eastern Ontario C7

inthenews

U.S. demand to drive Ontario economic growth: BMO Economics

While Ontario is currently showing subdued economic growth, real GDP should pick up in 2014 thanks to an improvement in

The good news is that our commercial customers should benefit from the projected increase in demand south of the border in the near future.

demand from the United States, according to the Provincial Monitor report released today by BMO Economics. “Real GDP is on pace to grow 1.4 per cent this year, but should reach 2.2 per cent in 2014 thanks to stronger U.S. demand,” says Robert Kavcic, senior economist, BMO Capital Markets. “The correlation between private-sector employment and trends in U.S. GDP in Ontario is the highest among all Canadian provinces,” noted Kavcic. “While political uncertainty in Washington is doing no favours for business confidence, the good news is that growth south of the border should pick up to closer to three per cent by early 2014 – a pace that should be felt among Ontario exporters and manufacturers.” “Economic ties to the U.S. are typically most prevalent in Ontario, so the recent developments there have certainly had an impact on a number of businesses in this province,” says Susan Brown, senior vice-president, Ontario Regional Division, BMO Bank of Montreal. “The good news is that our commercial customers should benefit from the projected increase in demand south of the border in the near future.” Ontario’s labour market performance remains steady, with 1.7 per cent year-over-year job growth in the third quarter of 2013 – ahead of the national average. “While public sector employment has fallen in recent months, the private sector has more than picked up the slack with gains in construction and trade,” says Kavcic. “The jobless rate sat at 7.3 per cent in September, matching the lowest level this cycle.” On the manufacturing side, auto production remains close to prerecession levels and North American sales activity remain solid. “While Ford recently announced it will spend more than $800 million to expand its Oakville plant, the strong Canadian dollar and relatively high labour costs pose longer-term challenges for the sector versus lower-cost alternatives like Mexico and the southern U.S.,” says Kavcic.

C8 New home & Condo guide eastern Ontario | nov 16 - 30, 2013

Beautifully designed, quality built 1, 2 + 3 bedroom terrace homes + urban flats at the corner of Orleans Blvd & Meadowglen. Welcome to Bergeron Terrace. Welcome to your neighbourhood.

BergeronTerrace.ca Sales Centre now open 5911 Meadowglen Drive 613.223.5803

spotlight on condos C9

C10

spotlight on condos

Discover downtown living at its best with a tour of the bright and airy, beautifully decorated models at Galleria 2. This is your opportunity to live and play close to Parliament Hill, University of Ottawa, ByWard Market, and all that Canadaâ&#x20AC;&#x2122;s capital has to offer.

start at $282,000.

BONUS

Granite counters throughout

6 Appliances

Storage locker

No condo fees for one year

spotlight on condos

Purchase one of our ready-to-move-in condos. Only 5% down payment.

C11

C12

spotlight on condos

C13

New floorplan releases and special pricing now available! Welcome to the exclusive world of Claridge Icon, Ottawa’s tallest residential tower. Uncompromising design. Extraordinary architecture. And brilliant views of the city skyline and Dow’s Lake. This is the ultimate location for urban sophisticates, an icon that proudly announces Ottawa’s coming of age. Visit our Presentation Centre and discover our completely redesigned suites. 1 Beds from 610 sq.ft. starting at $262,000. 2 Beds from 735 sq.ft. starting at $311,000.

CLARIDGE_ICON

Preston

spotlight on condos

Presentation Centre Now Open!

Carling Dows Lake

claridgeicon.com _ T 613.695.1441 Sales Centre_505 Preston St. [at Carling] Mon-Thurs 12-7_Fri Closed_Sat, Sun & Holidays 12-5 Sizes and specifications subject to change without notice. E. & O. E. Illustration is artist’s impression.

C14

Ottawa’s #1 Condo Builder BUY NOW WITH JUST 5% DOWN

LEBRETON - 300 LETT ST. Fusion blends contemporary architecture, luxurious features and green design in Ottawa’s ﬁrst fully LEED-qualiﬁed neighbourhood. And now, with our new 5% deposit structure, we’ve made it easier to make the down payment on a fantastic home right next door to downtown. Buy now, move in summer 2014 and enjoy a FREE locker.

1 & 2 Bedroom Urban Condos from 613 232 2049

Condo Suites from $224,000

Condo Suites from $208,000

1687 MERIVALE RD.

90 LANDRY ST.

Condo Suites from $233,000

Condo Suites from $240,000

613 224 0330

613 746 1513

Construction Jan. 2014

Immediate Occupancy

325 ST. ANDREW ST.

91 NEPEAN ST.

Condo Suites from $192,000

Condo Suites from $227,900

Condo Suites from $262,000

613 695 1441

613 241 3235

613 680 6560

613 234 1780

Occupancy May 2014

Construction Nov. 2013

Occupancy May 2014

505 PRESTON ST.

Grand Opening

ClaridgeHomes.com Prices and speciﬁcations are subject to change without notice. E. & O. E.

spotlight on condos

204 RIDEAU ST.

$264,000

C15

fundamentallyspeaking

Buying your first home?

Four tips to help guide your decision

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

by Wayne Karl

While experts suggest you take a long-term view when buying a home, home, you are sure to be filled with many it’s also important to not look too far down the road. important questions. How much can you Let’s be honest, your first home may not be your dream home, and afford? How much will it all cost? Where your needs and desires are sure to change throughout the various stages do you really want to live, and can you afford of homeownership. the area? And, finally, what type of home So, while the answers to the above questions are specific to circumdo you want? The answers are very indi- stances, there are also some common guidelines you can follow. vidual: it really depends on your situation – from the amount of your down payment 01 How much can you afford? Experts agree it is never a good idea to to where you work to whether you have kids make yourself house-poor, and it is a very common mistake, particuto other personal circumstances. larly of first-time buyers, to buy more home than you can really afford. For your enjoyment while you live in Meeting with a mortgage broker or your banker will help determine your your home, as well as for future resale po- full financial picture, assessing everything from your credit rating to how tential, proximity to transportation, shop- much you have saved for a down payment. Experts also suggest you ping, schools and other amenities is among “stress-test” your plan to see how well you could cope with higher mortgage the key determinants that affect your prop- payments brought on by rising interest rates. erty’s appeal, and ultimately its value. After all, those are the qualities potential buyers 02 How much will it really cost? Another common homebuyer mistake look for when searching for a home; the is not being prepared for all the closing costs involved: lawyer fees, land more of them your house has when you go transfer taxes, utilities, insurance, and home inspection and appraisal to sell, the more it will be attractive to a fees and insurance. All of these costs add up, and ultimately should factor into your overall home-shopping budget. greater number of people. When you’re buying your first

03 Where do you want to live? This question is becoming more important for a number of reasons, though influenced primarily by where you work, how much of a commute you want and whether your transportation options include mass transit or only driving. Indeed, especially with gas prices on the rise, proximity to mass transit is something more and more people are looking for in their new home location. It may not be as simple as choosing to live in the city, suburbs or a small town. 04 What type of home do you want? Once you have determined your options for cost and location, you can then assess what types of homes are available in your price range and desired neighbourhood: Singlefamily detached, semi-detached, townhome, duplex or condo? Some many questions, so many choices. The good news is, home builders today are in sync with customer preferences for location and amenities, and with market realities with regard to pricing and needs for energy efficiency, so your options for new-home product have never been better. C16 New home & Condo guide eastern Ontario | nov 16 - 30, 2013

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inthenews

Bank of Canada holds rate, drops forward guidance The Bank of Canada announced on Oct. 23

that it was keeping its trend-setting overnight lending rate at one per cent, where it has been since September 2010. The biggest change from previous statements was that it no longer hinted that the next move will be a rate hike. Instead, the Bank defended its decision not to cut rates amid persistently low inflation. The Bank says it does not want to risk reversing the current “gradual unwinding of household imbalances” and slowdown in household debt growth. In other words, the housing market is well behaved right now and the Bank wants to keep it that way. Global growth had become “less favourable” for Canada, the Bank says. This is a reference to the slow pace of economic recovery and increased uncertainty in the United States, which is resulting in weaker than expected Canadian export growth and business investment.

Accordingly, the Bank has lowered its projections for Canadian economic growth this year and in each of the next two years. Accordingly, the Bank has lowered its projections for Canadian economic growth this year and in each of the next two years. C18 New home & Condo guide eastern Ontario | nov 16 - 30, 2013

The Bank now expects economic growth of 1.6 per cent in 2013, down from the 1.8 per cent projected back in July. Growth is expected to pick up to 2.3 per cent in 2014, which is down from a 2.7 per cent projection in July, and edge up further to 2.6 per cent in 2015, also down from 2.7 per cent in July. The Bank now expects that inflation will not return to its two per cent target and the economy will not return to full production capacity until “around the end of 2015.” That’s been pushed back from the previous expectation of doing so by mid-2015. As such, the possibility of the Bank hiking interest rates anytime this year or next is likely off the table at this point. If anything, the odds that rates could be cut has increased; however, unless the economic outlook deteriorates further, the most likely scenario is that the Bank will keep interest rates on hold for quite some time yet. As of Oct. 23, 2013, the advertised five-year lending rate stood at 5.34 per cent, unchanged from the previous Bank rate announcement on Sept. 4.

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inthenews

TARION EXAMINING WAYS TO GIVE ONTARIO CONSUMERS  MORE TRANSPARENCY

WHEN BUYING A NEW HOME Tarion Warranty Corp. is working to find

new ways to help homebuyers research their home purchase, including streamlining the online information search process and revamping the Ontario New Home Builder Directory to include information on builders who are no longer registered. “While consumers need to research new home builders using a number of sources, we want to ensure we provide as much helpful information as possible,” says Howard Bogach, president and CEO of Tarion. Tarion is committed to continually improving transparency, providing consumers with information

While consumers need to research new home builders using a number of sources, we want to ensure we provide as much helpful information as possible

C22 New home & Condo guide eastern Ontario | nov 16 - 30, 2013

that will be of value when they are considering a new home purchase. Earlier initiatives have allowed consumers to search the Tarion website (tarion.com) to find out if a builder has had its licence refused or revoked, whether it has one or more chargeable conciliations against its name and the total dollars paid out in claims by Tarion. If a builder is part of an umbrella group of companies, consumers can learn other names under which the builder may be operating and the communities in which it builds. “Tarion strives to set the gold standard for transparency against other jurisdictions, including BC, Alberta and the United Kingdom,” says Bogach. “However, we believe more can always be done to inform consumers while meeting legal, privacy and homeowner interests.” Tarion Warranty Corp. is a private corporation established in 1976 to serve as the regulator of the new home building industry in Ontario. In this role, Tarion licenses all new home and condominium builders. New home builders provide purchasers with warranty coverage that is guaranteed by Tarion. Tarion also establishes minimum time standards for aftersales service, and conciliates issues between homeowners and builders. As of the end of 2012, more than 381,000 homes in Ontario are protected under the warranty.

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inthenews

Canadians paying off their debt the good old-fashioned way –

spending less: RBC poll Debt levels are on the rise across Canada,

and the number of Canadians who report being debt-free has decreased. Fewer than one-quarter (24 per cent) of Canadians are now debt free, down from 26 per cent in 2012, according to the third annual RBC Debt Poll. Canadians are focusing on financial fitness with a yearround emphasis on spending less and saving more. As the number of people carrying debt has increased, the average personal debt (non-mortgage) reached $15,920 in 2013 (up from $13,141 in 2012). Anxiety around debt is still a reality for many, as nearly four-in-10 (38 per cent) Canadians are anxious about their debt levels, up from 34 per cent in 2012, but the same number of Canadians (38 per cent) are comfortable with their debt. According to the poll, in an effort to practice financial fitness and reduce personal debt, Canadians have gone back to basics – reining in spending by putting off big-ticket items, including vacations and vehicles. “Despite the rising debt figure, there is a noticeable trend to responsible debt behaviour over the past year,” says Kim Taylor, director, personal lending, RBC. “We are also seeing that others need to take a step back to better manage the debt they are carrying. Before you start on any new routine, it is always best to set goals and have a plan in place. Marathon training often begins with a 5k race, and a financial plan with a path to debt repayment is key to your financial fitness success.” The RBC Debt Poll found that there was a great divide between western and eastern Canada, with debt levels increasing a staggering 35 per cent in the west compared to 10 per cent in the east since 2012. Alberta, faced with regional floods earlier this year, showed a significant increase in debt load, rising 63 per cent from 2012. Despite the higher percentage of debt in the west, residents of eastern Canada (41 per cent) are more anxious than their western neighbours (34 per cent) about their debt levels. “Regardless of where you live, it remains clear that Canadians on the whole can benefit from understanding the true cost of debt and responsible borrowing practices,” says Taylor. “If you’re uncertain about debt, talk to a professional and build a roadmap on how to get to where you need to be. Knowledge is power, and a planner can help provide you with the tools you need to move forward.” C24 New home & Condo guide eastern Ontario | nov 16 - 30, 2013

Taylor offers the following tips on getting financially fit: › Get to know your debt: credit cards, loans, lines of credit – how much do you owe? › Online calculators such as the Debt Reduction Plan are available for you to get a better picture of your exact debt figure. › Schedule an appointment to speak with an account manager. › An account manager is your best tool to help provide unique solutions for you to work on your financial fitness. › Look at your options: what do you think makes the most sense for you to manage debt? › Ask yourself: What are you most comfortable with and what is the best way for you to pay off your debt? A consolidation calculator can help you determine what’s best for you. › Make a plan to reduce your debt and stick to it. › Like any fitness plan, this is no different: you need to stick to it to see results.

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Master-Planned Communities:

What do they have to offer? by Marnie Bennett Sometimes, those of us in the real estate business use certain terms in conversation with our clients, forgetting that not everyone is as familiar with these terms as we are. “Master-planned community” is a prime example. You’ve probably encountered this term a hundred times in articles, at sales centres and on billboards. But what exactly does it mean? Simply, it means that the community is being built according to a master plan. In the United States, these communities are often gated and have condominium ownership; this is rarely the case in Canada. Here are some of the things you can expect from a master-planned community:

Marnie Bennett is a broker and the marketing director for 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 the weekly radio show the Real Estate Hour, a millionaire real estate investor and a wealth management coach. bennettpros.com

such as lampposts, park benches and entry gateposts will be carefully chosen to tie the community together visually. 05 It will be pedestrian-friendly. These communities typically feature walking paths winding throughout the community, as well as many neighbourhood parks. 06 It may be built as a collaboration between two or more builders; this enables them to buy a larger parcel of land and share developing costs. While the builders will offer their own collections of home designs, the collections will complement one another in appearance.

01 Every aspect of the community has been planned before the spade hits the ground. Sales centres usually have large, easy-to-understand visuals of the neighbourhood plan on display, so buyers know what to expect over the coming years. That means no unwanted autobody shops or gravel pits springing up across the street.

03 It will probably include more than one type of housing. Master-planned communities often offer detached homes, semi-detached homes and townhomes, and occasionally incorporate lowrise condominiums. These housing types are usually grouped together, forming smaller communities within the larger one.

02 It will be large. It’s quite common for these communities to exceed 700 acres.

04 It will be aesthetically harmonious. Homes will share a common “design language” – you won’t find Cape Cod bungalows on one street and Victorianinspired rowhomes on the next. Elements

C26 New home & Condo guide eastern Ontario | nov 16 - 30, 2013

07 It will be built in phases, over quite a few years. A community on this scale can’t be built overnight. 08 It will likely be well-served by public transportation, shops and new schools – although this infrastructure may not be completely in place during the earliest phases. Happily, I’ve also found that homes in master-planned communities tend to be very sound financial investments. Really, you couldn’t ask for much more! 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

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26 New home & Condo guide eastern Ontario | nov 16 - 30, 2013

ocation and an urbane lifestyle within walking distance of downtown Ottawa can be yours at Longwood Homes’ Sonia by the Rideau condominiums. Living at Sonia by the Rideau will allow easy access to downtown with the construction of the new footbridge connecting Overbrook and downtown. Several new retail and office developments in the area will offer plenty of rental opportunity! Come and see for yourself why Sonia by the Rideau condominiums have the best value per square footage in the city – dare to compare! The gorgeous new 611-sq.-ft. model suite contains hardwood and ceramic flooring throughout. Not only does this amazing condominium feature four stainless steel kitchen appliances, it also includes a washer/ dryer. Granite countertops in the kitchen and bath are easyclean and beautiful. Sonia by the Rideau is an elegant new design in condominiums. The building, set on a triangular lot, is filled with curves and windows and light. The 29 designs offer maximum natural light with concave and convex glass walls. Situated on Montgomery, near where McArthur

longwood homes

Sonia by the Rideau

The superb location provides the perfect blend of urban sizzle, peaceful contemplation and opportunities for worklife balance – close to downtown but with room to breathe. meets the Vanier Parkway, you can live an easy walk to the park and trails of the beautiful Rideau River. The superb location provides the perfect blend of urban sizzle, peaceful contemplation and opportunities for work-life balance – close to downtown but with room to breathe. Rather than being surrounded by highrises, parking garages and congested roadways, you can enjoy the amenities of a long-established community, while taking advantage of the easy lock-and-leave lifestyle. Nature is only steps away, yet you can walk or bike across Cummings Bridge and up Rideau Street into downtown. Walk to work, to the Rideau Centre, the National Arts Centre, the National Gallery and all of Ottawa’s great inner city amenities. Closer to home find unique gifts, eat fantastic foods and take advantage of the diverse shopping and dining experiences of Vanier, New Edinburgh, and Montreal Road. Run across the street to the Loblaws Superstore, or check out the more than 50 power retailers at the Train Yards. Stroll alongside the ever-changing beauty of the Rideau River, then home, where luxury and comfort await in your brand new suite. Need to leave the city? Jump on Hwy. 417 or continue down Riverside for a great southern corridor. And the train station is only five minutes away.

Prices start at $219,900, and units range from 563 to 1180 sq. ft., with either one bedroom and one bathroom, one bedroom and one-and-a-half baths or two bedrooms and two baths. Most units have balconies, and the fifth floor boasts spectacular terraces. Higher suites have amazing views of the city or the Gatineau Hills. Lockers are included and parking is available. Longwood has a 25-year history of building impressive communities in Ottawa. Sonia by the Rideau is part of that proud tradition. The sales centre is located at 350 Montgomery, with access off McArthur, open Monday to Wednesday noon to 6 p.m. and Saturday and Sunday noon to 5 p.m. For more information, call 613.421.9736 or visit soniacondos.com or email salessonia@longwoodbuilders.com

location Ottawa-Vanier housing type Condominiums 563 to 1,180 sq. ft. starting price From $219,900 Occupancy: Spring 2016 sales centre Monday to Wednesday noon to 6 p.m., Saturday and Sunday noon to 5 p.m. contact 613.421.9736 soniacondos.com nov 16 - 30, 2013 | New home & Condo guide eastern Ontario 27

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editor’schoice

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1. Expression Pillow – Paris. $39. Visit chapters.indigo.ca 2. Square Glass and Gold Tables. $269. Visit zarahome.com 3. Högtidlig Finial, Gold-Colour. $6 for two. Visit ikea.ca 4. Gold Pig Bookends. $35. Visit cb2.com 5. Gold Flatware Set. $29 for set of five. Visit westelm.com 6. Velvet Button-Tufted Scroll-Arm Sofa. $800. Visit homesense.ca

30 New home & Condo guide eastern Ontario | nov 16 - 30, 2013

finances

How to take finances

from mine and yours to ours, at any age

First comes love, and then comes… a joint bank account.

Whether a couple is cohabitating in their 20s, getting married in their 30s or remarrying in their 60s, at some point in any serious relationship the conversation about joint finances will surface. Regardless of life stage, successfully integrating finances requires open and honest communication to determine how to best combine and plan for the future together. According to research from TD Canada Trust, which surveyed adults in committed relationships, the top three personal finance products that Canadians combine with their partner are a joint bank account (64 per cent), a mortgage (60 per cent) and a joint credit card (50 per cent), compared to only 36 per cent of couples who have a joint financial plan. “A common first step in combining finances with a partner is a joint account for shared household expenses, and like other aspects of the relationship, communication is key to keeping things harmonious,” says Janice Farrell Jones, TD Canada Trust. “It’s important that both parties have a clear understanding of household finances – from day to day spending to long-term savings and investments – and all aspects of each individuals finances ¬ from everyday banking to credit card management – to set the framework for a strong financial future together.” TD Canada Trust provides some advice that may help in maintaining financial harmony when integrating finances with a partner at any life stage: The 20s: Combining finances is often a first for many couples in their 20s, whether it’s renting an apartment together or working to pay down existing student debt. When and how to share money will always vary depending on an individual couple’s financial situation and relationship, but communication is always key. “Start by discussing debt, saving, spending habits, financial goals, and credit history to determine if there is anything that may affect the ability to secure future loans together,” says Farrell Jones. “Next, work together to create a household budget that meets the needs of expense and debt management and has a little left over to put towards the collective financial goals.” Paying down student debt and saving for a home in the future, for example, are common goals for many couples in their 20s. As with any financial goal, it’s important to discuss and align on key considerations like timing, affordability and overall expectations. In the case of home ownership, couples should also make sure they agree on whether they are buying for the long or short-term as it will have a financial impact down the road. The 40s: Paying down debt, raising kids and saving for retirement – with many financial priorities, streamlining is essential for couples looking to combine their finances in their 40s. 32 New home & Condo guide eastern Ontario | nov 16 - 30, 2013

“First and foremost, couples at this lifestage should focus on what will make life easier, financially, together,” says Farrell Jones. “Consider working with an expert to make sure each individual financial strategy aligns with the other to maximize savings potential and keep all of the household financial priorities on track. Couples can also further streamline by making savings automatic with pre-authorized transfers into a TFSA, RSP and a child’s RESP.” Some couples may choose to merge certain aspects of their finances, while retaining individual accounts for additional saving or discretionary spending. Whether a couple decides to combine everything, keep everything separate, or somewhere in the middle, it’s important that both parties are ultimately working towards the same financial goals. The 60s: Likely, many couples in their 60s have a solid financial base, but with fewer peak income earning years remaining, it’s important to have a clear picture of what retirement looks like and what it will take, financially, to get there. “Spending time with the grandkids will have a much different price tag than travelling the world, so alignment on the retirement vision is essential,” says Farrell Jones. “If there is not enough saved for the type of retirement a couple wants, they should work with an expert to help determine how much more needs to be saved and ensure each individual financial plan complements the other to maximize savings and investments.” Whether married or common-law, couples should also ensure their retirement savings strategy takes advantage of spousal RSP contributions to help reach their retirement goals faster while lowering income taxes now and in retirement.

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Mortgage smarts

separating fact from fiction for first-time buyers by peter kinch

If you’re a first-time home-

buyer, you’re hearing a lot of talk in the real estate market these days. Will prices go up? Will the market crash? Will I ever be able to afford a house? How will the new mortgage rule changes affect me? How will I ever pay off this debt? It’s easy to get caught up in all the noise, but harder to separate the fact from the fiction. As I edge closer to celebrating my first half century on this planet, I find myself using the phrase “If I knew then…” more and more – which got me thinking about the next wave of first-time homebuyers, and what pearls of wisdom I could bestow on them.

Time is your ally. Time can turn any bad real estate decision into a good one. 34 New home & Condo guide eastern Ontario | nov 16 - 30, 2013

I had an interesting conversation with a colleague the other day regarding property values in Vancouver. He relayed me a story of a friend who had bought a house on the west side of Vancouver in the mid 1990s and it is now worth more than four times the amount he paid. In terms of equity, it was the equivalent of winning the lottery. We pondered the question, what will people be saying 20 to 25 years from now? Is it quite possible that a young 25year-old couple today might look back in the year 2033 and say “If only we had bought that house back in 2013? Why didn’t we? Oh yeah, there were new mortgage rules and a lot of global uncertainty…” Here are a few things that I’ve learned about real estate 1. Real estate has peaks and valleys, but there has never been a future peak that is lower than the past one. Just give it time. 2. Time is your ally. Time can turn any bad real estate decision into a good one. 3. Equity is your safety net. It can supplement a pension and give you financial options in later years. 4. Your mortgage is a forced savings program.

Peter Kinch is an award-winning mortgage broker and best-selling author of The Canadian Real Estate Action Plan Visit peterkinch.com or contact him at peter@peterkinch.com

So let’s assume that 20 to 25 years from now, you’ll be looking back and saying to yourself one of two things ›› I’m sure glad I bought that first house, or ›› I wish I had just bought something back in 2013 A lot of people are in this situation today and paralyzed by all the noise around them. And in the absence of facts or perspective, fear will take over. So what are the factors that are influencing your decisions today? Mortgage rules Yes, there are new mortgage rules that have been implemented over the past few years, but in some respects, this could be to your advantage. Many first-time homebuyers are unaware that you can still buy a home with as little as five per cent down. The main rule change that impacts your ability to afford a home is that you can no longer access a 30-year amortization. Your payments will now be determined based on you paying off that mortgage over a maximum 25-year period. Although this does make your payments a little higher in the beginning, it increases the amount of equity you build with each payment (remember your forced savings plan). In addition, the rule changes imposed by the government have had the exact effect they were hoping to accomplish, which was to slow what was becoming an overheated housing market. Again, this is to the advantage of

Your mortgage is paid off, and your house is worth more than the day you bought it – regardless of what happened during the years in between.

first-time buyers because it will help to bring house prices back within your range. Global uncertainty There is no doubt that we live in an age of global uncertainty and face the threat of financial chaos in Europe and a pending credit crisis in the U.S. However, this is not the first time our world has faced these challenges, and it won’t be the last. The key factor to look at is what you can control in your world. Ask yourself about your own employment options – your own employment future. The key to creating long-term wealth in real estate through equity is your ability to afford your monthly mortgage payments and making them consistently over a long period of time – regardless of what is happening on the other side of the world. If you do so, one day you’ll wake up and realize two things: 1. Your mortgage is paid off, and 2. Your house is worth more than the day you bought it – regardless of what happened during the years in between. So if you’re a first-time homebuyer in 2013, here’s my advice to you: create a budget that you can afford and be comfortable with. Buy a home that does not put a strain on your budget. Focus on taking baby steps and don’t get overwhelmed by the big picture. Make the monthly payments into that forced savings program called a mortgage, and then let time be your friend and real estate will do what it has done for many generations before – eventually go up as your mortgage goes down – and that is what we call “creating equity.” And then maybe, just maybe, as you’re about to celebrate your first half century on this planet, you‘ll look back and say, “I’m glad I got started in 2013.” nov 16 - 30, 2013 | New home & Condo guide eastern Ontario 35

homebuyers’help

Calculate your mortgage payments interest rate

amortization period

chart figure

example: 5%

25 years

5.82

mortgage amount ÷ 1,000 (mortgage amount $125,000)

125

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

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

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

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

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

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

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

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

36 New home & Condo guide eastern Ontario | nov 16 - 30, 2013

monthly payment

Mortgage payment calculation chart %

Amortization Periods

Interest Rates

10 years

15 years

20 years

25 years

3.00%

9.65

6.90

5.54

4.73

3.25%

9.76

7.02

5.66

4.86

3.50%

9.88

7.14

5.79

4.99

3.75%

9.99

7.26

5.91

5.13

4.00%

10.11

7.38

6.04

5.26

4.25%

10.23

7.50

6.17

5.40

4.50%

10.34

7.63

6.30

5.53

4.75%

10.46

7.75

6.44

5.67

5.00%

10.58

7.88

6.57

5.82

5.25%

10.70

8.01

6.74

5.96

5.50%

10.82

8.14

6.85

6.10

5.75%

10.94

8.27

6.98

6.25

6.00%

11.07

8.40

7.12

6.40

6.25%

11.19

8.53

7.26

6.55

6.50%

11.31

8.66

7.41

6.70

6.75%

11.43

8.80

7.55

6.85

7.00%

11.56

8.93

7.69

7.00

7.25%

11.68

9.07

7.84

7.16

7.50%

11.81

9.21

7.99

7.32

7.75%

11.94

9.34

8.14

7.47

8.00%

12.06

9.48

8.28

7.63

8.25%

12.19

9.62

8.44

7.79

8.50%

12.32

9.76

8.59

7.95

8.75%

12.45

9.90

8.74

8.12

9.00%

12.58

10.05

8.86

8.28

9.25%

12.71

10.19

9.05

8.45

9.50%

12.84

10.33

9.20

8.62

9.75%

12.97

10.48

9.36

8.78

10.00%

13.10

10.63

9.52

8.95

10.25%

13.24

10.77

9.68

9.12

10.50%

13.37

10.92

9.84

9.29

10.75%

13.50

11.06

10.00

9.46

11.00%

13.64

11.22

10.16

9.63

11.25%

13.77

11.36

10.32

9.80

11.50%

13.91

11.52

10.49

9.97

11.75%

14.04

11.66

10.65

10.15

12.00%

14.18

11.82

10.81

10.32

12.25%

14.32

11.97

10.98

10.49

12.50%

14.46

12.13

11.15

10.67

12.75%

14.59

12.28

11.31

10.85

This table shows the monthly payment of principal and interest for each $1,000 of mortgage. Example: The monthly principal and interest payment for a $125,000 mortgage with a 25-year amortization period at 5% is as follows: ($125,000 รท 1,000) X 5.82 = $727.50 nov 16 - 30, 2013 | New home & Condo guide eastern Ontario 37

ottawa

hot sheet ashcroft Homes Central Park • the next Live where downtown spirit meets community character, your prime location is your pathway to the best of Ottawa, and bountiful greenspace blends naturally. The Next brings it all together – smart condo living at the heart of Central Park. Starting at mid $200’s. Register now for VIP pricing at benext.ca Westboro • QWesT A stroll under the arches and along Sisters’ Walk will be enough to convince you of how greenspaces and good design make life beautiful at Q West. The Q West team’s inspired vision both preserves and enhances this landmark property. Just released, second floor terrace suites! Visit our model suite located at the corner of Richmond Rd. and Leighton Terrace in Westboro or call 613.221.5926. liveqwest.com Braebury Homes Ottawa • Richardson ridge Newly designed luxury homes are nestled into an unparalleled community featuring exposed Cambrian Granite Shield and breathtaking views from each grand and expansive yard. Located minutes from the Kanata Centrum Shopping Complex, urban amenities and Hwy. 417. 103 Grand Mana Circle, Ottawa. 613.297.9901. gwinch-braebury@bell.net. braeburyhomes.com CAMPANALE HOMES ARNPRIOR ● CALLAHAN ESTATES Your distinctive destination. Just west of the scenic Madawaska River in old world Arnprior, this stunning location offers the best of both worlds. You can enjoy the timeless charms of smaller town living while being a scant 20 minutes from major urban amenities in neighboring Kanata and Ottawa. Starting as low as $219,900. Visit our sales centre located at 2 Tom Gavinski, Arnprior, open Monday to Thursday 11 a.m. to 7 p.m., Saturday, Sunday and holidays noon to 5 p.m. Call 613.622.0033 or visit campanale.com BARRHAVEN ● LONGFIELDS STATION │ TOWNHOMES ● AND MORE You know you’ve arrived when you’re living in your new home built by Campanale Homes, an award-winning builder with more than 30 years experience! Condo flats and terrace homes starting from $252,000. Loaded executive townhomes priced from $331,260. Visit our new model homes and sales centre located at 420 Via Verona Ave. in Barrhaven. Call 613.440.3750 or visit campanale.com OTTAWA SOUTH ● PRINCE OF WALES ON THE RIDEAU Located just minutes to downtown via the scenic Colonel By Drive, and an easy bike ride to the scenic Hog’s Back Falls and Vincent Massey Park. This award-winning community features magnificent executive single-family homes, surrounded by more than 50 acres of greenspace and park bordering the Rideau River. Only a few lots remain. Call 613.440.3750 for more information or visit campanale.com CARDEL HOMES LONGFIELDS • Barrhaven – Singles • Townhomes Now selling singles and townhomes in Longfields at Barrhaven. Come visit us at 100 Longfields Dr. or contact Nicholas at Nicholas.karrandjas@cardelhomes.com, 613.290.4703. Cardelhomes.com kol at blackstone • kanata • condos KoL Condos coming soon to Blackstone! Register online at cardelhomes.com and be the first to receive insider updates. For more information, contact Harley Wallin at 613.836.9521, harley.wallin@cardelhomes.com Notting Hill South • Orleans • condos Enjoy designer selected finishes in a brand new condo! Every single condo includes underground parking, six appliances, storage room, radiant heated floors, elevator and zeromaintenance comfort and convenience! Contact Nicholas at 613.424.6780, nicholas.karrandjas@cardelhomes.com cardelhomes.com Cartier wellington Gatineau • Cartier wellington New landmark exterior composed of metal, glass and masonry built to LEED standards, contemporary architecture offers you energy efficient, ecological and innovative 14-storey modern structure. Already 50 per cent sold. Pre-construction pricing still in effect! Claridge Homes, claridgehomes.com, 613.425.1332. Construction Chabitat Gatineau • Les Vieux Moulins Splendid condos, condoclimat, designed for you by professionals. Come visit the sample unit at 14 - #2, des Alluchons Gatineau St., Gatineau (Aylmer Sector). chabitat.com

38 New home & Condo guide eastern Ontario | november 16 - 30, 2013

DOMICILE BEECHWOOD VILLAGE • The Kavanaugh The Kavanaugh offers village life in the city: quaint but with cachet – and just minutes from Parliament Hill. Famed bistros and bakeries line a streetscape surrounded by greenspaces, bike paths and landmarks. 613.897.7873. thekavanaugh.ca LITTLE ITALY • NUOVO • United by Originality Nuovo is Ottawa’s latest urban condo development brought to you by Domicile. This Barry Hobin design, situated in the heart of Little Italy, will offer unrivalled options for customization and personalization, allowing you to create a home that is truly yours. 613.728.7873. Pre-register now at nuovocondo.ca ORLEANS • BERGERON TERRACE Introducing Bergeron Terrace, set in Chapel Hill. Beautifully designed, quality built and affordably priced one-, two and threebedroom terrace homes and urban flats. Conveniently located at the corner of Meadowglen and Orleans Blvd., Bergeron Terrace offers you all the best that Domicile has to offer. Pre-register now at bergeronterrace.ca Ottawa • HŌm Introducing HŌm, nestled beside Ottawa’s Little Italy and Dow’s Lake. Everything’s within reach – including the price. 613.728.7873. hombydomicile.ca wellington west • ONE3ONE one3one is at the centre of the urban, tasteful and cultural Wellington West. All units with access to a rooftop terrace, rear courtyard, guest suite, fitness room, yoga room and a party room/ entertainment room. Pre-register online or call 613.728.7873. one3one.ca Holitzner Homes CARP • HIDDEN LAKE The only large lot development in the West End, this private enclave features award-winning single-family homes, bungalows and two-storey homes built on spacious fully serviced sites surrounded by natural landscaped settings. Only three lots left. Phone 613.839.6675 or holitzner.com Stittsville • Deer Run Final Phase now open – your last opportunity in Stittsville. Your choice of bungalows, main floor master homes and large twostorey homes on beautiful 50-ft. wide lot. Last chance to own a home by Holitzner Homes in Stittsville. Phone 613.839.6675 or holitzner.com LA Group Kemptville • Kemptville Meadows Discover higher value at a lower price! Stacked townhomes from 1,138 sq. ft. from only $219,500. Due to overwhelming demand, Phase 3 is now also under construction! Ask about Zero Down Payment Program and Limited Time Bonus Offer! Tour the model home at 206 Fir Lane, Kemptville. 613.366.2007. kemptvillemeadows.ca Larco homes Barrhaven • Longfields Innovative semi-detached homes in Barrhaven – models now open – watch for ads! larcohomes.com OTTAWA • Accolade Larco presents Accolade, 23 Upscale Townhomes in Craig Henry. Only one townhomes remaining from $399,000! larcohomes.com LEMAY HOMES Ottawa South • FINDLAY BY THE PARK New community offering an exciting collection of singles, bungalows and townhomes. Just a few steps to greenspace, park, recreational arena and soccer fields. Quick access to shops, restaurants and services. Starting from $314,900. Limited time bonus offer. 613.425.5255. maisonslemayhomes.ca Linden Developments Distillery Warehouse • Authentic Lofts Warehouse inspired lofts, with industrial kitchens, brick walls and pioneering design to celebrate Ottawa’s industrial past with prices from the mid $200’s. Register at distillerywarehouse.com to receive updates and an invitation to the VIP event. Downtown goes Southside! Call 613.793.5500. LONGWOOD KANATA • DEEVY’S HOMESTEAD Under construction – $19,000 off on selected lots. Adult lifestyle attached bungalow townhomes on Equestrian Drive in Kanata. deevyshomestead.com or email salesdeevys@longwoodbuilders.com. Call 613.435.2155 for more information.

BUILDERS: If you would like to include your new model home or site opening, email Nashrun.Kamaludin@wall2wallmedia.com. Please say you saw it in New Home & Condo Guide!

Ottawa / Eastern Ontario / Gatineau Regions HUNT CLUB • NEIGHBOURHOODS OF HUNT CLUB New adult lifestyle attached bungalow community in Hunt Club. Decorated model home and sales office now open. neighbourhoodsofhuntclub.com or email d.greene@longwoodbuilders.com or call 613.738.1349 for information. CENTRAL OTTAWA • SONIA BY THE RIDEAU New 70-unit condominium in Ottawa East. Decorated model suite with unique European Extenzo Ceiling.soniacondos.com or email salessonia@longwoodbuilders.com or call 613.421.9736. OTTAWA SOUTH • MONTAGE This 36-unit condominium in Ottawa South is 75 per cent sold. Two model suites now open. Immediate occupancy on nine suites. Located at corner of Clementine and Ohio off bank south of Billings Bridge. montagecondos.ca Call 613.897.0044 or d.greene@longwoodbuilders.com ORLEANS • DORIMA TERRACE HOMES Under construction, move in early 2014. Perfect for the firsttime buyer or investor. Terrace homes off Innes at 10th line. For more information dorima.ca or 613.424.2901. ROCKLAND • MORRIS VILLAGE Best value single-family homes and bungalows. Perfect for growing families. Decorated model home and sales office. For more information longwoodbuilders.com/morrisvillage or 613.446.1506. MASTERCRAFT STARWOOD WEST CENTRAL • SOHO CHAMPAGNE Mastercraft Starwood’s SoHo Luxury Condominiums is pleased to announce its third Ottawa location: SoHo Champagne – just one block west of Preston St. in Little Italy. Register today to get an invite to our spring sales launch. sohochampagne.com Ottawa • SOHO LISGAR New release of suites on the 12th to 15th floors. the ultimate hotel-inspired lifestyle in a designer condominium, in the heart of downtown. Call 613.798.7646. soholisgar.com Metric Homes Carp • Westlake South Estates Westlake Estates offers 22 estate lots on two to four acres on a private cul-de-sac and most lots are tree-covered. LENA St. • ARNPRIOR Three large 60-ft.-wide lots in a private 10-lot cull-de-sac on the Madawaska River. Each lot has access to the Madawaska river via a private pathway. Each lot has its own private dock on the Madawaska, with direct access to the Ottawa River. Price starting in the mid-$500’s. The construction of a spec model home (for sale for summer 2014 occupancy) will start this fall. stittsville • deer run Metric introduces the Maplewood 1 model to its Deer Run community lineup. At 3,200 sq. ft. plus open space, this home features a open loft at the second floor, circular staircase and walk in closet in most bedrooms. Visit the sales office on Rockson Crescent Saturdays and Sundays between noon and 5 p.m. or call 613.296.7000. Deer Run model home now open. metrichomes.com WESTBORO • Qwest 529 Broadhead Ave. two custom designed semi-detached homes on a 168-ft. deep infill lot. Innovative street friendly and appealing design. Two proposed concepts. The first purchaser will decide which concept will be built and will customize its new home. Priced in the $700,000s. Minto THE GLEBE • MINTO@LANSDOWNE Make your home in one of Ottawa’s premier neighbourhoods – the Glebe. Enjoy the best of modern living in harmony with historic surroundings, with all life’s essentials right at your doorstep. Move in as early as 2014. 613.788.2784. lansdowne.minto.com Minto/Canderel Westboro • UpperWest A 25-storey landmark address in the heart of Westboro – just steps from upscale dining and shopping. Choose from stunning open concept suite designs, with sun drenched rooms and spectacular interior finishes. Enjoy state-of-the-art fitness centre, entertainment lounge plus an expansive outdoor terrace. 613.788.2786. liveupperwest.com NEW EDINBURGH • MINTOBEECHWOOD New Edinburgh is one of Ottawa’s finest neighbourhoods. Where tradition meets modern, old meets new, home to eclectic shops and restaurants. Spectacular new condominiums coming this September available from the mid $200,000s. Register now for priority preview: mintobeechwood.com

MONARCH CORP Kanata • Blackstone Executive 46 ft singles from $441, 990. Two-storey townhomes from the high $200,000s. 32 ft singles with double car garages from the high $300,000s. 110 Westphalian Ave., Kanata, 613.831.2619. Register at monarchgroup.net Barrhaven • Longfields Courtyard townhomes with double car garages from the low $300,000s. Semi-detached homes with double car garages from the high $300,000s. 280 Longfields Dr., Nepean. 613.569.5313. Grand opening of new model homes Nov 23rd, 2013. Nepean • Stonebridge Ottawa’s award winning golf course community. Luxurious singles from the mid $400,000s. Executive townhomes from high $200,000s. Stacked townhomes from the low $200,000s. 610 Kilbirnie Dr., Nepean. 613.692.9280. monarchgroup.net Phoenix Homes ALMONTE • WHITE TAIL RIDGE Small town feel with all the amenities of a big city and the largest lots available anywhere. Contact Liane McKinley 613.369.5842. SPRINGCRESS WESTBORO • RAVENHILL COMMON 19 freehold towns, now under construction for summer 2014 occupancy. Located two blocks from the heart of Westboro, stunning open concept two- and three-bedroom homes from 1,361 to 1,948 sq. ft. feature as direct access from underground parking garage, two-storey galleries and open lofts, private rear terrace and roof top decks. Ravenhill Common, Contemporary Brownstones, Churchill Ave. North, one block south of Byron at Ravenhill. Sales centre now open at 329 Richmond Rd. at the corner of Churchill Ave. ravenhillcommon.com Sales info: 613.825.0080 salesinfo@ravenhillcommon.com Tamarack Homes Leitrum • Findlay Creek Grand opening! Five new decorated townhome models in Findlay Creek Village. Call 613.247.0081 or visit tamarackhomes.com Orleans • Chaparal Grand Opening, new gallery townhomes from $279,900 Call 613-837-1511 or visit tamarackhomes.com The slater Broccolini • The Slater • Condominium In this amenity-filled building, suite features include standard kitchen islands, five-ft. glass walk-in shower, stainless steel appliance package, hardwood throughout, quartz counters, nine-ft. ceilings, views of the Ottawa River. Suites range from studio to two-storey penthouses with private terrace. Starting at $190’s. 199 Slater St. Ottawa. 613.230.0199 theslater.ca Uniform Urban Developments barrhaven • The Orchard Grand opening for The Orchard in Barrhaven South, near Stonebridge. Single-family homes starting from $519,000. 3699 Jockvale Rd. uniformdevelopments.com Manotick • Maple Creek Estates Stunning estate lot community with a close connection to the city – the best of both worlds. Two model homes open for viewing. Call 613.491.2277. Kanata • Richardson Ridge Single-family homes starting from $497,000. Sales centre located at the corner of Terry Fox Drive and Richardson Side Road. Call 613.853.4302. urbandale construction Kemptville • Country Walk New release of Country Walk, the second community in Kemptville. With only 70 units available, this exclusive community of adult-lifestyle bungalow townhomes is unique, affordable and eco-friendly. Visit urbandale.com central ottawa • 99 Parkdale A new luxury condominium is coming to Ottawa. Indulge your senses with more than 12,000 sq. ft. of indoor and outdoor amenity space. Featuring an exquisite podium garden, stateof-the-art fitness centre, elegant dining rooms, a plush theatre, expansive lounges and an outdoor fireplace. Only minutes from the Parkdale market, everything you need is at your doorstep. Now released! Register at 99Parkdale.com valecraft Homes Mer Bleue/Orléans • bradley estates New release of single-family homes and executive townhomes. New to Bradley Estates: nine redesigned models with full-brick fronts and stone skirts. valecraft.com november 16 - 30, 2013 | New home & Condo guide eastern Ontario 39

Builder Name

Site Name

Prices

De t

Location

ac Se hed m Bu i ng al To wn ow ho Ad me/ C ul t L o nd ife o sty le

advertisers index

Page

WEST Almonte

Phoenix

White Tail Ridge

From $343,500

Arnprior

Campanale

Callahan

x Inquire

24, 25

Arnprior

Campanale

Riverwood Estates

x Inquire

24, 25

Arnprior

Phoenix

Shadow Ridge

x Inquire

Carp

Holitzner

Hidden Lake X

x Inquire

Kanata

Mattamy

Fairwinds

From $224,990

6, 7

Kanata

Mattamy

Monahan Landing

From $224,990

6, 7

Kanata

Monarch

Blackstone

x Inquire

Kanata

Phoenix

Fernbank Crossing

From $383,400

Kanata

Uniform Developments

Richardson Ridge

$497,000

Stittsville

Holitzner

Deer Run

x Inquire

Stittsville

Metric

Arbourbrook Estates

x Inquire

Westboro

Springcress

Ravenhill Common

From $599,400

4, 5 19 8, 9

Central Craig Henry

Larco

Accolade

x Inquire

SOUTH Barhaven

Claridge Homes

West Pointe Village

Barrhaven

Cardel

Homes

Barrhaven

Larco

Longfields

Barrhaven

Mattamy

Half Moon Bay

Barrhaven

Tamarack

The Meadows

Hunt club

Longwood

Huntclub Bungalows

Leitrim

Lemay Homes

Findlay by the Park

Leitrim

Tamarack

Findlay Creek

x Inquire

Manotick

Minto

Mahogany

x Inquire

Nepean

Monarch

Stonebridge

Nepean

Monarch

The Links

Richmond

Metric

King's Grant

South Ottawa

Campanale

Longfields

South Ottawa

Campanale

Prince of Wales on the Rideau

40 New home & Condo guide eastern Ontario | nov 2 - 16, 2013

From $281,900

14, 15

x Inquire

$219,990

6, 7

x Inquire

16, 17

From $314,900

x Inquire

4, 5

Low $200's

x Inquire

24, 25

x Inquire

24, 25

Builder Name

Site Name

Prices

De t

Location

ac Se hed m Bu i ng al To wn ow ho Ad me/ C ul t L o nd ife o sty le

advertisers index

Page

EAST Cumberland

Metric

Camelot Estates

x Inquire

Navan

Claridge

Spring Valley Trails

Orleans

Metric

Notting Hill

x Inquire

Orleans

Minto

Avalon

x Inquire

Orleans

Tamarack

Chaperal

x Inquire

Orleans

Valecraft

Bradley Estates

x Inquire

Rockland

Longwood

Morris Village

x Inquire

16, 17

From $276,900

18 14, 15

CONDO Brockville

Windmill Developments

The Wayfare

From $300's

Central

Claridge Homes

Fusion

From $261,000

Central

Claridge Homes

Icon

x Inquire

C15

Central

Claridge Homes

Waterstreet

C14

Central

Domicile

Nuovo

x Inquire

C19

Central

Minto

Beechwood

x Inquire

Central

Samco Ltd

Summerhill

Central

Soho Parkway

Soho Champagne

x Inquire

C21

Central

Soho Parkway

Soho Italia

C13

Central

Soho Parkway

Soho Lisgar

x Inquire

Downtown

Lamb Developments

Soba

From $190,900

Downtown

Richcraft

Bowery

From $179,000

C25

Orleans

Cardel

Notting Hill

x Inquire

C32

Orleans

Domicile

Bergeron

x Inquire

Ottawa Central

Richcraft

The Galleria

x Inquire

C11

Ottawa Central

Urbandale Corporation

99 Parkdale

x Inquire

South Ottawa

Theberge Homes

Alta Vista Ridge

From $209,900

C17

South Ottawa

Theberge Homes

Hunt club

From $209,900

Stittsville

Dharma

Reverie

From low $300's

C10

West Ottawa

Qualicum

Woods Crossing

x Inquire

West Ottawa

Westboro Point Development

The Azure

From $192,000

From low $300's

Low $200's

From $280,000

C4 C15

C12

C21

C27 C3

nov 2 - 16, 2013 | New home & Condo guide eastern Ontario 41

Please see advertisers ads for Site locations

42 New home & Condo guide eastern Ontario | nov 16 - 30, 2013

Darling

almonte

west

north Gower

richmond

south

416

manotick

vernon

Russell

embrun

Iroquois

Morrisburg

east

rockland

Morewood

Cardinal

osgoode

greely

Kemptville

Nepean

smith Falls Merrickville

Vanier

Cumberland

orleans

CeNtraL gloucester

ottawa

hull

aylmer

gatineau

stittsville Barrhaven

Kanata

Carp

South Elmsley

Carleton Place

Bathurst

Mcnab

arnprior

gatiNeau

QueBeC

417

Casselman

key map Stittsville, Carlton Place, West Carlton, Nepean, Kanata, Richmond, Riverside South, Barrhaven, North Gower, Greely, Kemptville, Morewood, Orleans, Embrun, Russell, Rockland, Aylmer, Hull, Gatineau.

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Fro

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Lalo

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Stra

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Gram

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Road

tree

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Chin

Blvd

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Bleu

burn

n Co

Bria

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900