New Home & Condo Guide - Eastern Ontario by NextHome

[6 Week Issue]

Eastern Ontario Edition

Dec 1, 2012 - Jan 12, 2013 Volume 12 Issue 22

Your Best Source for New Homes and Condos

Distilleryby Linden Warehouse

inside this issue

TIPS FOR GETTING DEBT-FREE FOREVER

Developments

OTTAWA MARKET FUNDAMENTALLY SOLID

HOMEBUYING AND THE ONE-THIRD RULE

ere,

139 Charlie’s Lane Carp 613 839 6675

you can have character without compromise

ONLY A FEW LEFT! EArLY OccupANcY hOmEs AvAiLAbLE. 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. immEdiATE OccupANcY AvAiLAbLE WiTh sigNiNg bONus.

w w w.holitzner.com

holitzner-homes

VisiT a hoLiTznEr saLEs CEnTrE & Tour our modEL homE Today! Mon. to Thurs.: noon to 7pm • Fri., Sat., Sun. & Holidays: noon to 5pm

OThEr hOLiTzNEr cOmmuNiTiEs

ONLY 4 LOTs LEFT! Early occupancy homes available. singles and bungalows from $488,900. 606 Birchland Cres. (off Westridge Dr. between Abbott St. & Fernbank Rd.), Stittsville 613 831 3711

ENERGY STAR ®

standard in all Holitzner homes.

The ENERGY STAR® mark is administered and promoted in Canada by Natural Resources Canada.

ALWAYS HOME. EXPERIENCE COMMUNITY

LIKE NEVER BEFORE MONARCHGROUP.NET

Huntmar Dr.

CELEBRATE 95 YEARS WITH MONARCH. A master planned community of distinction offers the finest selection in features and finishes.

Dr.

Eagleson Rd.

Terr y Fox

EXPERIENCE CENTRE Westphalian Ave.

• Single-family homes ranging from 1,826 to 3,606 sq. f t. from $439,990

Hazeldean Rd.

Stittsville M ain S

• Superior features and finishes include 9' ceilings, gourmet kitchen, spa-inspired ensuites, stunning exteriors and much more

Hwy. 417

Fernbank Rd.

CELEBRATE WITH US. For a limited time on select lots receive $10,000 Design Studio Dollars* PLUS Hardwood flooring on Main level*** PLUS Chef’s Kitchen with quartz countertops, extended upper cabinetry, pots and pan drawers and more PLUS Air conditioning****

MODEL HOMES TO VIEW

EXPERIENCE CENTRE 110 Westphalian Ave., Kanata 613.831.2619 ALSO AVAILABLE Two-storey Townhomes from 1,621** to 2,402**sq. ft. priced from the high $200,000’s

VISIT US ON FACEBOOK AND 'LIKE' OUR PAGE AND MONARCH WILL DONATE A DOLLAR TO A CHARITY OF YOUR CHOICE. Follow us on:

MONARCHGROUP.NET 4

twitter @monarch_group

Like us on:

facebook/monarchcorp

Prices, specifications and promotions are subject to change without notice. Renderings are artist’s concept and images are for mood and impression only. *Extras noted above are as per plan and as specified by Vendor. Some restrictions may apply. Extras to be chosen at Monarch’s Home Design Studio. **Includes Finished space in Lower Level. *** Hardwood on the Main Level is in lieu of Carpeted area and main floor bedrooms. Hardwood flooring is as specified by Vendor as per the Vendor’s standard samples. ****Size of air conditioner to be determined by heat calculation study. Restrictions may apply. Please see Sales Representative for full details. E.&O.E. December 2012. 19983

MONARCH COMMUNITIES.

MONARCH, CANADA’S OLDEST AND MOST EXPERIENCED BUILDER.

NEPEAN STACKED TOWNHOMES from the low $200,000’s

THE LINKS · MODEL HOME

DISCOVER GOLF COURSE LIVING.

EXPERIENCE CENTRE: 610 Kilbirnie Dr., Nepean 613.692.9284

NEPEAN EXECUTIVE SINGLES from the mid $400,000’s EXECUTIVE TOWNHOMES from the high $200,000’s

THE EVERGREEN · ELEV. B

LIVE ON THE GREEN.

EXPERIENCE CENTRE: 610 Kilbirnie Dr., Nepean 613.692.9284

KANATA EXECUTIVE TOWNHOMES from the high $200,000’s OTTAWA’S LEADING SMART COMMUNITY. TRAILWEST · MODEL HOME

EXPERIENCE CENTRE: 215 Barrick Hill Rd., Kanata (Eagleson/Cope) 613.592.2425

KANATA TWO-STOREY TOWNHOMES from the high $200,000’s

OLD WORLD CHARM. NEW WORLD LUXURY. THE CLYDESDALE · ELEV. B

EXECUTIVE 46' SINGLES from $439,990 EXPERIENCE CENTRE: 110 Westphalian Ave., Ottawa 613.831.2619

HOURS: Mon. – Thurs. 1pm – 8 pm, Fri.,Weekends & Holidays 12pm – 5pm

DESIGNER DECORATED MODEL HOMES TO VIEW AT ALL COMMUNITIES. 5

“We’d like to thank our family.” To the thousands of people who’ve purchased a Cardel home since 1973, you’re all part of our family and the reason we are where we are – building award-winning homes in top Ottawa communities.

Visit us online for community details, interactive floorplans and sales centre directions.

Built for real life. CARDELHOMES.COM

8 New home & Condo guide eastern Ontario | dec 1, 2012 - jan 12, 2013

Uniform Urban Developments is proud to present Richardson Ridge in Kanata, our newest single-family development. Designed by Barry Hobin, this collection of unique and elegant homes is just minutes from the Kanata Centrum shopping complex, golf, schools, Scotiabank Place and the 417. Sales Centre now open.

STUNNING NEW LOTS!

homes starting from $497,000

613.853.4302 | uniformdevelopments.com dec 1, 2012 - Jan 12, 2013 | New home & Condo guide eastern Ontario 9

contents

Dec 1, 2012 - Jan 12, 2013

volume 12 issue 22

cover story

p.20

linden developments

Now under construction: Distillery Warehouse

C06

vice-president, Wall2wall media

Jacqueline Hill

Sales Manager, Eastern Ontario

Paul Bimm

editor-in-chief, national real estate

Susan Legge art director

Daiana Garay editor

Wayne Karl contributing editors

Janine Druery, Elisa Krovblit, Silvana Longo Lydia McNutt (on leave), Sara Duck (on leave)

regular features

sales co-ordinator, eastern Ontario

Nash Kamaludin

Condo Insert C01-C36 |

national account manager, mediative

Spotlight on Condos: Your

guide to new condo communities in the Gatineau and Greater Ottawa Area

Paul Slizys

Manager of production

Bala Gnanapandithan Production Co-ordinator

C16 in the news More Canadians are debt-free in 2012: RBC poll C22 home smarts When divorce rocks the matrimonial home by Marnie Bennett

C30 in the news Canadians view their home as an investment tool: Scotiabank C34 fundamentally speaking Fundamentally solid by Wayne Karl

12 editor’s note 24 in the news Canada to avoid a U.S.-style housing market meltdown 33 getting your finances in order Housing affordability and the one-third rule 34 Money matters Getting debt-free forever by Gail Vaz-Oxlade

36 hot sheet Two pages of community previews and openings

community focus features C06 mastercraft starwood SoHo Champagne – yet another reason to love SoHo

longwood homes

offers new adult lifestyle community in Kanata

Dennis Ng

graphic designer

Viosa Barileva Published by

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

1 Raymond St., Ste. 300 Ottawa, Ontario K1R 1A2 Phone: 613.729.1221 Published Saturdays, 2012 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 2012: 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.

Final Phase

UndEr consTrUcTion

a smar t investment

Tarion award of ExcEllEncE finalisT

Executive towns

Semi-detached homes

from the high

613.592.2425

Loblaws $ 200’s

monarchgroup.net

613.435.5400

valecraft.com

from the high

$ 200’s

RD HM ON

Visit our website for hours.

MOODIE DR

STONEHA VE

R XD N

NBA

FER

$ 300’s

SALES CENTRES & MODEL HOMES Cope Dr. off Eagleson Rd., Kanata

SON RD

ROBERT

RIC

EAGLESON RD

O RY F

TER E DR

COP K RD

from the low

6 beautiful model homes available for viewing

417

MICHAEL COWPLAND DR

613.831.6255

tartanhomes.com

Executive towns

E. & O. E. Specifications and prices subject to change without notice.

Trailwest.ca 11

e d i t o r ’s n o t e

Let lifestyle be your guide

Big or small, your home is your retreat

hether you’re considering a home near the beach, a golf course or a city pied-à-terre, you’re likely looking to compensate for what you don’t have in your current residence. The amount of living space is usually the issue – either too much or too little. Most young families are looking for more living space, which is why builders are designing homes with interiors that maximize every square foot of living space to make the most of your money. As we get older, the quest for living space may take a different direction. Downsizing is often the answer, and many homeowners with existing homes in suburban or rural areas are acquiring townhomes or pied-à-terres in the city. An urban location gives owners (and their friends) a chance to enjoy the social and cultural activities of the city without having to drive for hours to get home. In today’s hectic world, your new home will be your retreat, so it’s important to find a space that suits your lifestyle. In this issue, we profile new communities which offer the perfect place to put up your feet – plus we have the latest industry news and informative features about buying and owning a new home.

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

How does Ottawa measure up? Quite well, thank you very much, when looking at the long term

t the recent cross-country series of Housing Outlook Conferences presented by Canada Mortgage and Housing Corp. (CMHC), with a stop in Ottawa in early November, there was a central theme: How does Ottawa measure up? As the nation’s capital and one of Canada’s steadiest though, yes, at the moment, somewhat challenged housing markets, Ottawa is an interesting study. CMHC analysts used local data to provide an honest assessment. The housing market in the Ottawa Census Metropolitan Area is expected to moderate some in 2013, though with home prices staying in positive territory. “As global and local uncertainty starts subsiding and improving labour conditions spill over in the Ottawa region, both the new and resale home market will resume a stronger rate of growth,” Sandra Pérez Torres, CMHC’s senior market analyst for Ottawa, told the conference. If you’ve been reading New Home & Condo Guide in recent weeks, or otherwise following news and developments in real estate, such comments likely won’t surprise you. Short-term challenges aside, the fundamentals that support the Ottawa housing market – healthy economy, employment and immigration growth among them – are solid. Combine that with continuing low interest rates and areas that are proven performers, and... How does Ottawa measure up? Over the long term, quite well, thank you very much.

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

12 New home & Condo guide eastern Ontario | dec 1, 2012 - jan 12, 2013

Discover great living!

Growing Families Love Morris Village!

Your new home from Longwood awaits you in the community of Morris Village in Rockland. Just 20 minutes drive east of Place d’Orleans. Morris Village offers all the amenities of an urban centre in a country setting! Your children will love it and you will too! SINGLE FAMILY HOMES

Starting from just

$259,900

U A L

.J ST

Morris Village

CRE

JAD

JAS

PER

R O C K L A N D

SCE

EP EMERALD

➭F R

…Well Worth the Drive!

NEW PHASE NOW SELLING!

Sales Ofﬁce and Decorated Model Home

located at 100 Jade Crescent corner of Jasper Monday to Wednesday - Noon to 6 p.m. Saturday and Sunday - Noon to 5 p.m.

Closed Thursday and Friday

613-446-1506

www.longwoodbuilders.com

COMING SOON

10 EXECUTIVE TOWNHOMES, BY THE RIDEAU CANAL. eQ Homes is delighted to offer you this opportunity to be among the very first to preview Canal East, an exclusive collection of 10 executive townhomes designed by Ottawa’s award-winning Barry J. Hobin & Associates Architects Inc. On a choice, professionally landscaped site, these modern 3-bedroom residences feature expansive floor-to-ceiling windows, open concept kitchens/great rooms, living areas with private balconies, and master bedrooms with rooftop terraces. Each features 2.5 bathrooms, parking (single car garage), and easy access to Highway 417, shopping, dining and the best of downtown. From the mid

600’s

register today canaleast.ca Prices and specifications are subject to change without notice. E. & O.E. Rendering is artist’s concept.

ADULT LIFESTYLE

ATTACHED BUNGALOWS

of Hunt Club NEIGHBOURHOODS

Longwood’s Newest Site in a sought-after Hunt Club location. Only 12 opportunities remain to purchase including designs for four ‘wide lots’ with rear garages.

of Hunt Club

By appointment only

NEIGHBOURHOODS

www.neighbourhoodsof huntclub.com

613-738-1349

d.greene@longwoodbuilders.com

www.longwoodbuilders.com

READY TO BUILD YOUR DREAM HOME?

homes

WE BUILD CUSTOM HOMES TO SUIT YOUR LIFESTYLE! 150 Day Delivery

Our Standards Are High

Minimum Lot Size Of 1 Acre

At Settlers’ Grant a two storey 2000 sq. ft. custom home will cost approx. $167.00 per sq. ft. and 2000sq. ft bungalows at $170.00 per sq. ft. *lot is not included, please go to www. settlersgrant.ca for lot prices.

Our Standard Finishings are other builders’ upgrades; natural gas fireplace, HRV System, 8 1/2 inch colonial trim baseboards, PVC Low E windows to list just a few.

With access to 12,000 plans and the technical expertise to customize to your exact specifications, no two homes are alike.

North Gower

416

Viewing By Appointment Only

ars

K To

Rideau River

South River Rd

Settlers Grant

We invite your input throughout the process and expect to see you many times during the Building of Your Home.

Kemptville

Contact George Pollman or Nelly Van Berlo at (613) 258-7550

LET SETTLERS' GRANT Homes BUILD YOU A TRULY CUSTOM HOME

www.settlersgrant.ca

Just South of Ottawa

*price per sq. ft. varies with the size of home. The ENERGY STAR® mark is administered and promoted in Canada by Natural Resources Canada. R-2000 is an official trademark of Natural Resources Canada. Used with permission.

spotlight on condos

Eastern Edition Dec 1, 2012 - Jan 12, 2013

SOHO Champagne Toast the good life at Ottawaâ&#x20AC;&#x2122;s newest luxury condo

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

LIVE ON THE PARK WALK TO THE RIVER

PARKSIDE EXECUTIVE STACKED TOWN HOMES

Model Open

spotlight on condos

Weekday Mon.–Wed. 4–7pm Weekends 12pm to 4pm

LY N O Y R T R F E U L H MES 6 HO

Hemlock Rd.

Upper Eastside

Montreal Rd. Queensway

Immediate Closings Upgrades Included SEE AGENT FOR DETAILS ON UNITS AND CONDO FEE PROGRAM.

NOW OPEN

the dining room

THE PENTHOUSES

the interiors

a beacon of light

where style meets substance.

MORE THAN AN ADDRESS

Sophisticated Condominium Living from $199,900 Presentation Centre at 199 Slater Street (at bank street) Mon & Tues 12-6pm • Wed & Thurs 11-7pm • Friday 12-6pm • Saturday 12-5pm

theslater.ca 613.230.0199

B R O C C O l i n i c o n s t r u c t i o n • r i c h a r d c h m i e l a r c h i t ec t & a s s o c i at es • i i by i v i n t e r i o r s

spotlight on condos

CONDOMINIUM&HOTEL

RENDERINGs are AN ARTIST’S IMPRESSION. PRICES, SIZES AND SPECIFICATIONS ARE SUBJECT TO CHANGE WITHOUT NOTICE. E.&O.E.

spotlight on condos

ly $

in 2 5000 D ow 0 n 1 A SO sk 2 HO ab !* o DE EXTE ut PO ND SIT ED

CARLING AVE. DOW'S LAKE not to scale

spotlight on condos

HICKORY ST.

N PRESTON ST.

BEECH ST.

CHAMPAGNE AVE. S.

If y o u ’ re curren t ly renti ng, ou r KISS EVEN T i s fo r yo u . To m a k e t h e t r a n s it i o n to own ershi p easy we’ l l hel p yo u e x t e n d yo u r de po si t wh e n yo u bu y a n y 1 b d r m . at SoHo Champagne . On l y $ 5 ,0 0 0 do wn i n 2 0 1 2 . T he n o n ly $ 1 , 0 0 0 per month tow ards y o u r 5 % do wn pa ym e n t . *

spotlight on condos C6

SoHo Champagne “50 Reasons to love SoHo – reason #13

Brilliant design in a great neighbourhood PLUS construction is set to begin!”

or a limited time only, love our new deposit program, only $5,000 deposit in 2012 and take possession November 2014. It’s time to toast the good life with all its sparkle, luxury and diversity at SoHo Champagne, Ottawa’s newest hotel-inspired, luxury condominium. Steps from Little Italy, Dow’s Lake and the Queensway, SoHo Champagne represents the emergence of a new nobility in cosmopolitan living where nothing is left to chance and every desire is fulfilled. Imagine what it would be like to live in a condominium where every intricate detail has been designed to awaken your sense of style while simultaneously satiating your desire for comfort. Mastercraft Starwood is the developer of Toronto’s finest boutique hotel, The SoHo Metropolitan Hotel and Toronto’s first five-star hotel, The Hazelton Hotel. Each day, life will

be enriched by the management and concierge services managed by Toronto’s SoHo Met Hotel as they raise the level of personalized care to a new level of service and luxury. Sixteen- and 20-storey residential towers will overlook Dow’s Lake and its water activities. At the ground level, a collection of townhomes overlooking the linear park will offer penthouse quality finishes. Each tower will feature one- and two-bedroom plans, with penthouses featuring two bedrooms and wrap-around terraces. It’s just steps away from dozens of restaurants in Little Italy and nearby Chinatown, as well as other gourmet tastes from around the world, and Preston Street which is becoming a lively commercial corridor. A podium will unite the two buildings. Like its sister developments, SoHo Lisgar and SoHo Parkway, award-winning architect Roderick Lahey has designed these twin towers. Once again,

Location Ottawa

mastercraft Starwood

SoHo Champagne

housing type Condos, 1-bedroom from $288,900 2-bedroom from $499,900 penthouses $883,900 sales office 111 Champagne Ave. S. Open Monday to Thursday noon to 6 p.m., weekends noon to 5 p.m. contact 613.798.7646 sohochampagne.com

the Brian Gluckstein design team has re-established its high standards and protocols previously reserved for luxury boutique hotels. The entrance to SoHo features a hotel-like drop-off to the front door with its 16-ft. SoHo granite wall, a canopy and security desk in the entry foyer. Gluckstein has designed the 16-ft. high lobby to luxury hotel standards with marble floors and elevator walls clad in marble. A concierge desk in the lobby and the SoHo Champagne Club all feature 16-ft. ceiling heights with a library, lounge, bar, private dining area, fireplace, wine-tasting room and private screening room. The second floor features a Dalton Brown gym with access to an outdoor terrace. Steam rooms and washrooms are adjacent to the gym. Each of the earth’s four elements will be represented in the indoor and outdoor Gluckstein designed common space – an amazing 15,000 sq. ft. This area includes a third floor landscaped terrace and gardens with raised infinity style hot tub, 60-ft. lap pool, fireplace and outdoor kitchen. Host a dinner in the private dining room, watch a movie or sports event in the private screening room or visit the wine room. Each floorplan has been designed by Gluckstein to accommodate fine furnishings of every taste and temperament. Suites up to 22 ft. in width, unheard of in condominium living, will appear to be floating on air with floor-to-ceiling, wall-to-wall windows absorbing the surrounding views. Each suite will be invested with the same high quality materials and standards demanded by elite clients who desire living spaces equivalent to the comfort of expensive homes. You’ll find nine-ft. ceilings – 10-ft. ceilings in the penthouse suites – marble bathrooms with large shower stalls and a rain showerhead. Kitchens will be designed with the fine cabinetry found on a yacht or private jet, with an island and integrated European appliances concealed behind lacquered doors and the features and fixtures you’d find in the finest homes.

dec 1, 2012 - Jan 12, 2013 | New home & Condo guide eastern Ontario C7

spotlight on condos

Where in the world is Sonia? BEECHWOOD VILLAGE

A little further aﬁeld, but well worth the effort, Beechwood is always changing with exciting new stores, restaurants and services – Metro, New Edinburgh Pub, Da Bombe Desserts and Fine Foods, Kelly’s Barber Shop, Fraser’s Café, El Meson and so much more.

RIDEAU STREET, BYWARD MARKET AND ALL THAT DOWNTOWN OTTAWA HAS TO OFFER Whether you work downtown or just like

to take advantage of the night life, the cultural events or the fresh produce at the Byward Market, downtown Ottawa is so close. Get in your car, jump on the bus, grab a cab, ride your bike or, if you’re up to it, you can even walk – it’s that close – Rideau Centre, National Gallery, National Arts Centre, Byward Market, shops and restaurants – it’s all just waiting for you.

Views of the GATINEAU HILLS

RIDEAU RIVER

u ea

R id

HIKING AND BIKING JUST UP THE STREET, ALONG THE RIDEAU RIVER.

MONTREAL ROAD

Artist’s Concept

Mon tgom

ery

th Ar

Walk west along McArthur and you’ll ﬁnd Pizzarro’s Restaurant with fabulous food for lunch and dinner and the best zucchini in Ottawa. A little further west you’ll come to Todric’s. Dine in, take food home, enjoy a cooking lesson or talk to Chef Eric Patenaude about catering your next event.

MANY SHOPS AND SERVICES WITHIN EASY WALKING DISTANCE

Lots of great shops and services here, starting with the Vanier Medical Centre, Jean Coutu Pharmacy, Tim Horton’s, Esso and PetroCanada, Peach Gardens Chinese Restaurant, LCBO, Maison Baguettes and so much more to explore.

LOBLAWS

Just across the street from Sonia, Loblaws will have everything you’re looking for to keep the fridge full and ready for your guests.

DISCOVER ʻUP AND COMINGʼ QUARTIER VANIER – “THE NEXT WESTBORO”

The neighbourhood of Quartier Vanier has a history as old as the City of Ottawa just waiting to be discovered. Did you know that Vanier has North America’s only urban sugar bush with a working Sugar Shack? its own museum, the MuseoParc? its own monthly newspaper ‘Perspectives Vanier’? or that Canada’s ﬁrst franMcARTHUR AVENUE THE OTTAWA TRAIN YARDS Bills itself as ‘Ottawa’s Premier Shopping cophone prime minister, Sir Wilfrid Laurier, is buried at Notre People come from all over the city District’. Over 50 Power Retailers and a mix of restaurants, bank, coffee Dame Cemetery. If not, you have a new world to discover. to eat Louis’ Pizza and when you live shops, clothing stores, home furnishings, sports equipment, health and at Sonia it’s right across the street. wellness and anchor stores like Walmart, Sail and Michael’s. More stores BASEBALL AND MORE! The Baseball Stadium on Coventry Perfect for the nights you don’t want opening all the time. Road is an easy walk and don’t forget the Hampton Inn and to cook! Right behind Louis’ Pizza is Convention Centre. Further along Coventry you’ll ﬁnd Canadian Tire and Best Buy. the McArthur Lanes – 10 pin bowling at its best. GREAT ACCESS TO EVERYWHERE! Drive just a few short blocks to connect Stores along McArthur. include a to the Queensway/ Highway 174 with great access East and West. Riverside Drive Flower Shop, Auto Repair, Bakery, takes you to the south end of the city and the airport. Dairy Queen, FreshCo food store, CIBC Bank and Belair Lexus Toyota.

CITY • WISE CONDOS

BEST LOCATION, BEST VALUE, BEST PRICE PER SQUARE FOOT ONE BEDROOM + DEN + 1 BATH from the

ONE BEDROOM + 1.5 BATH from the

TWO BEDROOM TWO BATH from the

mid $200’s

high $200’s

low $300’s

mid $300’s

* Some conditions apply.

www.longwoodbuilders.com

RIV

RIVER

ROA

RKWAY IER PA AN

AL RE NT E. McARTHUR AV

Ask about AFFORDABILITY NOW

RIDEAU

5program*

www.soniacondos.com % DOWN

E RID

350 Montgomery Street at the Vanier Parkway

Monday to Thursday 12 to 6 pm Saturday and Sunday 12 to 5 pm Closed Fridays

HWY 17 4

Live outside the box!

613-421-9736

Access from McArthur Ave. west of the Vanier Parkway

ENSWA Y QUE

SALES CENTRE

spotlight on condos

ONE BEDROOM + 1 BATH from the

For those who celebrate having a point of view, UpperWest presents the most scenic and panoramic vistas available in Westboro, overlooking Ottawa, the Gatineau Hills and miles of unobstructed scenery.

spotlight on condos

Welcome home to UpperWest, a distinctive new high-rise condominium tower located on the Ottawa River Parkway with the best views in Westboro. Prices starting at the mid $200s.

C10

liveupperwest.com A joint development with:

Sales Centre 400 Richmond Rd.

Monday to Friday

(at Roosevelt Ave.)

11:00AM â&#x20AC;&#x201C; 7:00PM

Phone 613-788-2786

Weekends & Holidays

Hours

10:00AM â&#x20AC;&#x201C; 5:00PM

IT’S ALL HERE

On Sale Now.

Learn more at lansdowne.minto.com Sales Centre: 5th Avenue Court 831 Bank Street 613 788 2784

spotlight on condos

A new way of living is coming to Ottawa. Picture an active, authentic neighbourhood experience, right in the middle of a renowned landmark. You’re surrounded by excitement. You’re steps from the best restaurants and cafés. There’s something to do everywhere you go, and something to see wherever you look. With the collection of condominium suites coming soon to Minto@lansdowne, you’ve got a new place to call home.

C11

SPARKS 1391 SQ. FT. ROOFTOP TERRACES

redefine the way you live While quiet, sleepy streets of established suburbia hum in the background, the international sounds and flavours of

spotlight on condos

Canada's capital unfold at your front door.

C12

Welcome to life at the Edge - a personal retreat in the heart of downtown, one - and two-bedroom condominium suites are uniquely contemporary and distinctively inviting. From $230,000

Presentation Centre 293 Lisgar Street

PHASE 2

GLADSTONE AVE

FOR MORE INFORMATION CONTACT US

613.789.5475 CENTRAL2.COM *NOTE, AN ADDITIONAL 5% DUE ON INTERIM OCCUPANCY

BANK ST

McLEOD ST

spotlight on condos

SALES CENTRE ON McLEOD ST., EAST OFF BANK ST. MON-WED 12-6 PM | THURS 3-8 PM | SAT 12-5 PM | SUN 1-5 PM

UNDER CONSTRUCTION

O’CONNOR ST

PHASE 1 NOW OCCUPYING

C13

C14

spotlight on condos

Experience life in the village!

The Kavanaugh Onsite Sales Centre Monday–Thursday, 12 p.m.–6 p.m. Closed Friday Saturday and Sunday, 12 p.m.–5 p.m. thekavanaugh.ca 613 868 7597

Come see our two furnished model suites. bedroom from $271,800 bedroom from $338,100

spotlight on condos

222 Beechwood Avenue, Ottawa, Ontario

C15

inthenews

More Canadians are debt-free in 2012: RBC POLL

this is a better year than 2011 for Canadi-

ans’ pocketbooks. According to the second annual RBC Debt Poll, more Canadians have no personal (non-mortgage) debt this year (26 per cent, up from 22 per cent in 2011). On average, Canadians carry $13,141 in personal debt, up $84 from a year ago, with Ontarians carrying the most debt ($15,361) and Quebecers the least ($10,171). While four in 10 Canadians (40 per cent) describe themselves as “comfortable” with their current personal debt level (compared to 45 per cent in 2011), one-in-three Canadians (34 per cent) admit their debt level causes them anxiety The RBC Debt Poll (compared to 32 per cent in 2011). found that just over “Many Canadians have some level half of Canadians of comfort with their personal debt, (51 per cent, compared but the very personal nature of to 49 per cent in 2011) carrying debt can often stir up mixed says Richard Goyder, vicesay it is more emotions,” president of personal lending, RBC. important to pay down “It’s encouraging that the results show debt than save and more Canadians have become debtinvest for the future free over the past year and that those right now who still have debt want to do more to reduce it.” The poll found that just over half of Canadians (51 per cent, compared to 49 per cent in 2011) say it is more important to pay down debt than save and invest for the future right now. Four in 10 (41 per

C16 New home & Condo guide eastern Ontario | dec 1, 2012 - jan 12, 2013

cent, down from 44 per cent in 2011) place an equal importance on saving and investing, as well as paying down debt. Meanwhile, a minority of Canadians (eight per cent) think now is the time to save and invest for the future, rather than pay down debt. Similar to a year ago, caution around adding to their debt load has led some Canadians to delay or cancel purchases or plans, such as taking a vacation (26 per cent, compared to 24 per cent in 2011) and buying a big ticket item (19 per cent, compared to 20 per cent in 2011). Also, like in last year’s poll, threequarters of Canadians (76 per cent) feel they are in better shape regarding their personal debt than their friends and neighbours (compared to 75 per cent in 2011). “Whether you feel you’re in good financial shape or facing some challenges, it’s important to have a strategy for managing debt,” adds Goyder. “Making informed financial decisions is part of an overall plan to achieve financial balance.”

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At Q West, your lifestyle gets better with age. The past and future of urban living meet at Q West. Abbey Court is the beautiful heritage building at the heart of this unique community—an upscale gathering place with shopping, dining, cafes, green spaces and more. It’s yours to enjoy. Welcome to the neighbourhood.

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Q West is nothing less than an instant classic: charming village life on a grand scale, designed with style and satisfaction in mind, and the best of Westboro awaiting you. This is your dream of living well—and your chance to live it.

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RICHMOND & I S L A N D PA R K

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JUST LIKE YOUR LIFE NOW. BUT WITH A CONCIERGE. And a fully equipped entertainment lounge. And a fitness centre. And a yoga studio. And guest suites. And a ski and bike tuning room. And an executive boardroom. And an electric car charging station.

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AND A WHOLE LOT MORE.

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homesmarts

When divorce

rocks the

matrimonial home by Marnie Bennett

Marnie Bennett is the marketing consultant 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

There are many things to consider here – finances, logistics, emotional attachments and chiefly the children in these situations. Part of you may be ready to move, but you question the wisdom of uprooting your children from everything they know. In all cases, these decisions require a great deal of soul-searching as well as professional advice from your lawyer, mortgage broker and real estate agent. We’ve all heard of people who stay in an unhappy Remember that these situations are marriage for the sake of the kids. But what about staying married for the sake of common and that talking to a the house? It may sound crazy, but many of us have deep rooted attachments to professional is the best decision you can make for yourself and our homes. They hold memories – some happy, others sad, but all meaningful. It can be scary to your family. Selling the home to contemplate leaving the place where, more than Selling the home to a a third party is often any other, we feel we belong. third party is often the best Still, few of us would advise our friends to the best scenario from scenario from both a remain in a bad marriage simply to keep their both a financial and an financial and an emotional beloved house. A recent Canadian study shows emotional perspective. perspective. (Resentment that 40 per cent of first marriages end in divorce. can certainly build when That’s a lot of people facing the same tough decisions about what to do with one partner witnesses the other still the “matrimonial home,” as it’s known in the legal profession. Some can afford living in the family home.) By the same to stay in the same dwelling, but sadly, many cannot. Couples may even find token, it can be difficult for divorcing themselves in a custody battle of sorts, when neither partner wants to give up partners to sit down with a real estate the family home. And then there are others who are all too eager to move out agent and calmly discuss matters such and make a fresh start. as the listing price and negotiating Should you find yourself in one of these unfortunate, yet ever so common, tactics. A good agent will guide you situations, here is what you need to know. In Ontario, the Family Law Act states through this process with minimal that the full value of the matrimonial home should be divided equally between discomfort and help serve as an you and your ex. It doesn’t matter whether one of you bought the home prior to objective voice. your marriage, whether it was left to one of you in a will, or whether only one Whatever path you choose, make name is on the title. The only exception to this 50/50 split occur when a pre- every attempt to embrace this nuptial agreement exists, or when the court finds unusual circumstances that chance to have a new beginning and make such a split unfair. a happier home. C22 New home & Condo guide eastern Ontario | dec 1, 2012 - jan 12, 2013

M O N TA G E

MONTAGE

LIFESTYLE CONDOMINIUMS

UNDER CONSTRUCTION

OTTAWA GENERAL HOSPITAL

LANSDOWNE PARK

Smyth Rd.

BROWN’S

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AIRPORT

Heron Rd.

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Sales Centre 1201 Ohio Street

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HERON PARK

Airpo

Heron Rd.

You’re invited to visit the sales centre to view 8 floor plans. One and two bedrooms, two bedrooms plus den or three bedrooms. from 815 to 1358 square feet.

This exciting, four-level condominium complex VINCENT MASSEY PARK places residents in touch with everything and everywhere from a setting that overlooks a wooded ravine.

Just off Bank south of Billings Bridge

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Sales Centre Hours Monday to Thursday 12 p.m. to 6 p.m. TO SHOPS & Saturday Sunday & Holidays RESTAURANTS OF SOUTH KEYES 12 p.m. to 5 p.m. Closed Friday

www.montagecondos.ca

www.longwoodbuilders.com

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INLET PARK It’s not often that an opportunity is presented to liveDriveway h et that within walking distance to the river, the Glebe andaball liz Dr. E South Ottawa has to offer. It’s also not often that By n a homeMAYFAIR uee el Q n DOW’SHomes discovers this opportunity THEATRE lo builder such as Longwood LAKE WINDSOR Co PARK and fashions it into a cosmopolitan setting that appeals to . e v young professionals, empty-nesters and anyone seeking A ide ys SHOPS & lifestyle, lifestyle, lifestyle. ANNIVERSARY nn Su PARK Partner lifestyle with location, location, location and OFRESTAURANTS OTTAWA SOUTH Montage is Longwood Homes’ answer to cosmopolitan living in Ottawa’s desirable Alta Vista area. This is where trails and parkways converge with shops, boutiques and RIDEAU bistros to present all lifestyle all the time in a location that BREWER WALKING & PARK is second to none in the region. BIKES BILLINGS O-TRAIN BREWER Located on Ohio just west of Bank Street, Montage is BRIDGE CARLETON N. PARK POND PLAZA walking distance to walking and biking trails, Parkland CARLETON r. D UNIVERSITY at the Rideau River, shopping in Old Ottawa South and e id E rs Billings Bridge. Transitway is close at hand for the urbanite ve Ri RA on the go. Hop on Riverside and the airport is a 10-minute CENTRE drive.

a Alta Vist

SPRING 2013 OCCUPANCY!

Ri ve rd a

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A new luxury condominium is coming. A lifestyle as unique, as active, as diverse as you are. Indulge your senses with beautiful river and city vistas. All from your new home next to the Ottawa River. Register today for our preview opening.

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inthenews

Canadians view their home

as key investment tool The role of the Canadian » Two-thirds (69 per cent) of Canadians report owning a home is key, with the majority of Canadians home. For Canadian homeowners, 40 per cent are living (77 per cent) indicating their home is an mortgage-free. investment rather than an expense, » T he majority (81 per cent) of Canadians agree it is according to a recent Scotiabank poll. The important to become mortgage-free as soon as possible. investment may extend beyond retirement » T he most common step Canadians are taking to pay for some; among those mortgage holders not off their mortgage faster is to increase the frequency of yet retired, one-third (32 per cent) say they their regular payments (29 per cent). will likely still have their mortgage when » One-third of Canadians (34 per cent) say they will be relying they retire. That said, Canadians are eager on their home equity to support them in retirement. to leave their mortgages behind, with almost three-quarters (72 per cent) of Canadian “What I want Canadians who are feeling a little mortgage holders taking at least one step to overwhelmed in paying off their mortgages to know is that becoming mortgage-free faster. When it paying off their mortgage is totally achievable, and the great comes to mortgage-mindset, Canadians are news is that a number of Canadians who were in the same thinking in the right direction: position have reached the goal of being mortgage-free,” says David Stafford, managing director of real estate lending at Scotiabank. “With rates at historic lows, “With rates at historic lows, there’s secured there’s never been a better time to take years off your never been a better time to take years mortgage. We’ve helped customers across the country off your mortgage...” become mortgage-free faster – by visiting our financial advisors, you can receive personalized advice on how to do the same without an impact on your lifestyle.”

C30 New home & Condo guide eastern Ontario | dec 1, 2012 - jan 12, 2013

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Ar tist’s rendering. E. & O.E.

Carefree 1000 Islands Living Sales Centre & Model Suite

NOW OPEN! Visit thewayfare.ca for details.

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119 Water Street West (at Henry) Brockville ON

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The Wayfare is Brockville’s newest and most exciting 10-storey condominium development. • Premium waterfront property, offering beautiful views of the 1000 Islands region of the St. Lawrence Seaway • Within walking distance of downtown Brockville and only a short drive to Ottawa, Kingston and Toronto • Exceptional on-site amenities including walkout shoreside patio, indoor pool and hot tub, exercise room and indoor parking

1.855.445.0445 | THEWAYFARE.CA

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fundamentallyspeaking

Fundamentally

solid by Wayne Karl

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

We’ve often discussed in Fundamentally Speaking 2012. Similarly, immigration – as better and elsewhere in New Home & Condo Guide about the importance of prospects for employment here attract “new doing your research and due diligence when buying a home. One of the Canadians” – which first supports the rental best resources – if you’re a first-time or move-up buyer or even an investor market and eventually homeownership, is – is Canada Mortgage and Housing Corp. (CMHC). expected to maintain in 2013. And of all the valuable information and data CMHC produces, none » Ottawa market: So, what does all this is more educational than its annual housing outlook conferences, currently mean for Ottawa? Against the backdrop rolling out across the country, with one of its first stops in Ottawa in of global uncertainty, the housing market mid November. is holding steady, though sales, construction It’s impossible for all homebuyers and homeowners to attend these levels and price growth may slow. Prices, events, for obvious reasons, and since they are open mostly to those in however, will remain in positive territory, the industry. But if ever there was an excellent refresher on the according to Sandra Pérez Torres, CMHC’s fundamentals that determine and support real estate market conditions, senior market analyst. and puts it all in perspective, this is it. » Ottawa opportunities: “Despite public sector reductions, Ottawa’s economy will Here is a summary of some key points: remain stable,” says Pérez Torres. “As global » The economy: CMHC deputy chief economist Mathieu Laberge says and local uncertainty starts subsiding and the prospects for Canada’s economy are largely positive, despite some improving labour conditions spill over in global uncertainty. Our economic fundamentals have weakened some, the Ottawa region, both the new and resale home market will resume a stronger rate but are expected to remain supportive of housing demand. » Mortgage rates: Mortgage interest rates should remain near of growth.” Builders continue to modify their historically low levels. For example, a five-year mortgage rate in 2012 was 5.25 per cent, and may climb to about 5.5 per cent in 2013 – still product offerings toward multi-family homes, catering to the transition toward near a 60-year low. » Household debt: Household debt, cited as a concern by the Bank of higher density housing. Starts in semiCanada, federal finance ministry and others over the last two years, detached homes, for example, are forecast remains a concern. Elevated levels of household debt and house prices to rise 14 per cent and townhomes 9.7 per in some urban markets have made Canada’s economy more vulnerable cent in 2013 – though off of declines for to some economic shocks. “Not that we see a shock coming – we don’t,” 2012 overall. Still, the average price of a new single-detached home increased by says Laberge. » Housing starts: Housing starts, an important indicator of growth and 1.6 per cent in 2012, and is expected to health of the housing sector, may dip 9.4 per cent in 2013 (mostly in grow by a further 0.8 per cent in 2013. Given the overall challenges in Canada, multi-family homes) to about 194,000. Importantly, however, this follows a 10.2-per-cent surge to 213,700 in 2012 – when CMHC actually Ontario and elsewhere, the outlook at a glance may not appear spectacular. But projected starts would range from only 161,650 to 206,350 units. » Employment and immigration: As the leading indicator of housing looking at the big picture and long term, demand, employment levels will continue to support the housing market, the important determining factors are – with growth of 1.9 per cent forecast for 2013, following 1.1 per cent in fundamentally solid. C34 New home & Condo guide eastern Ontario | dec 1, 2012 - jan 12, 2013

NOWâ&#x20AC;&#x2122;S YOUR CHANCE TO CAPITALIZE. Furnished, flexible-use condominiums just steps from Parliament Hill. A once-in-a-lifetime investment in Ottawaâ&#x20AC;&#x2122;s most coveted real estate. Make the most of your Capital at re on Sparks.

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Room for

family

A maintenance-free Cardel condo means more hours in your day – for catching up or growing closer. - Underground parking - 9' 4th floor ceilings - Upgraded - Large windows cabinetry, doors - Air conditioning and hardware

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FEATURING:

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Radiant in-floor heating Storage room 6 appliances Private balcony Elevator

Get more with a Cardel condo. Visit our sales centre for details and incentives. Sales Centre: 151 Potts Private, Unit 103 Orléans, ON

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200s

dec 1, 2012 - Jan 12, 2013 | New home & Condo guide eastern Ontario 19

coverstory

now under construction

Distillery Warehouse limited time only BONUS – select suites include designer selected furnishing package

ONUS! For a limited time only select suites include designer selected furnishing package. You’ll get it all – bed, living room and kitchen furniture and all of the living supplies you need... even pots and pans and linens! Visit the sales centre to view for details and plan your move to be close to everything, Ottawa South has to offer. Do you want to stroll alongside the Rideau Canal, play beach volleyball at Mooney’s Bay and picnic in Vincent Massey Park? How about shop at the big box stores on Bank? Would you enjoy being near waterways, bike paths and tulip-filled parks? Do you want the lockand-leave condominium lifestyle, but still want high style and original designs? 20 New home & Condo guide eastern Ontario | dec 1, 2012 - Jan 12, 2013

Then look no further The Distillery Warehouse, an exciting new concept in condos from Linden Developments, will be a 10-storey, nouveau-industrial collection of warehouse-style loft suites, with all the luxury, convenience and efficiency of brand new housing, situated on Walkley near Bank. Nine-ft. ceilings (12-ft. on the ground floor) and a wide choice of designer selected finishing décor packages are part of the industrial look, and suites are built with pre-engineered hardwood flooring. Interior sides of exterior walls are exposed brick face – providing a cosy yet funky warmth. Kitchens feature gloss white ceramic subway backsplash extending right to the upper cabinets, gorgeous 1.25-in. solid quartz countertops, a stunning architecturally inspired industrial stainless steel range hood, designer collection contemporary custom cabinetry with floating stainless steel shelves, and a custom designed eight-ft. dining island, including dishwasher, stainless steel undermount sink and industrial style faucet.

linden developments

Distillery Warehouse

Suites feature either one or two bedrooms with one or two bathrooms or bath and powder rooms. Luxurious washrooms feature unique mosaic ceramic flooring, elongated glosswhite ceramic wall tile tub/shower surrounds and gorgeous fixtures. The oversized outdoor galleries with industrial design-inspired wrought iron railings include a gas hose bib for the barbecue connection. There are eight designs, each different, some wide and shallow for a light, spacious feel and all designed for maximum efficiency, with plenty of closet space and windows. The open concept is not just part of the industrial look and feel, but is also perfect for entertaining. Suites feature either one or two bedrooms with one or two bathrooms or bath and powder rooms. The building’s lobby will be composed of combined organic and industrial design, with wood, natural stone and stainless steel for subtle accents. An exercise studio and multipurpose room with kitchen will be conveniently located on the main floor. The basement level will feature an extreme ski and bike tune-up area, pet spa room, bike storage and locker area. The neighbourhood is just south of central Ottawa, with quick access to downtown and to all the parks along the Rideau Canal and Rideau River, including very special places such as Hog’s Back Falls. Distillery Warehouse is not far from Carleton University, the Glebe and several malls.

Unit plan “G1 – 1,019 sq. ft. including 73 sq. ft. outdoor gallery

Perfectly located for the professional who travels, it is just minutes away from the international airport, train station and bus depot, as well as near several city arteries such as Bronson and Heron streets. For VIP pricing – save thousands, visit distillerywarehouse.com or call 613.793.5500. Location South Ottawa housing type Warehouse-style loft suites, 562 to 946 sq. ft. starting price Starting from the mid $200,000 sales office 1920 Bank St. (south of Walkley), open Monday to Thursday noon to 6 p.m.; Saturday and Sunday noon to 5 p.m.; closed Friday contact 613.793.5500 | distillerywarehouse.com dec 1, 2012 - Jan 12, 2013 | New home & Condo guide eastern Ontario 21

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(613) 296-7000 22 New home & Condo guide eastern Ontario | dec 1, 2012 - jan 12, 2013

o ls jor ns A e a tio W M a o d ov n Re

www.MetricHomes.com

inthenews

Canada to avoid a

U.S.-style housing market meltdown Canada will not suffer from the same

type of real estate market meltdown witnessed in the U.S., according to a new report from CIBC World Markets. The report notes that while there are a number of factors that raise concerns about Canada’s housing market, there are fundamental differences between the Canadian and U.S. markets that should see a soft landing for the real estate market here. “To be sure, house prices in Canada will probably fall in the coming year or The strong growth two, but any comparison in indebtedness south of to the American market the border was partially of 2006 reflects deep fueled by speculative misunderstanding of the credit landscapes of the activity in the housing pre-crash environment in market – something the U.S. and today’s we’ve seen far less of in Canadian market,” says the Canadian market CIBC Deputy Chief Economist Benjamin Tal. Tal notes that while the debt-to-income ratio in Canada just broke the American record set in 2006, “this ratio is more a headline grabber than a serious analytical tool. There is a list of countries with comparably higher debt-to-income ratios, which did not experience anything remotely resembling the recent U.S. experience.” Tal says we should pay more attention to the speed at which the debt-to-income ratio is growing. “Here the picture looks a bit less alarming. Comparing the three years heading into the U.S. crash to the past three years in Canada reveals that the debt-to-income ratio in Canada has been rising at half the speed seen in the pre-crash U.S. market.” The strong growth in indebtedness south of the border was partially fueled by speculative activity in 24 New home & Condo guide eastern Ontario | dec 1, 2012 - jan 12, 2013

the housing market – something we’ve seen far less of in the Canadian market. In the decade leading to the crash, housing starts in the U.S. exceeded household formation by nearly 80 per cent. On average, over the past decade, the gap in Canada has been only 10 per cent – with most of the excess seen in cities such as Toronto and Vancouver. Another key difference between Canada and the U.S. is in the quality of mortgages. The distribution of credit scores has not changed dramatically in the past four years in Canada, which is different than what happened in the U.S. during the four years before the recession. Stateside, the proportion in the risky category rose by more than ten percentage points and accounted for 22 per cent of the overall market. But credit score does not tell the whole story, says Tal. Among other things, many of the troubled mortgages in the U.S. were sold to borrowers with an acceptable credit score but who did not satisfy the underwriting rules for prime loans because they were unable or unwilling to provide full documentation on their mortgage applications. In 2006, these nonprime mortgages accounted for no less than 33 per cent of originations and close to 20 per cent of outstanding mortgages. Tal notes that not all is well in the Canadian housing market. Home prices are overshooting their fundamentals, mainly in large cities such as Toronto and Vancouver and the recent slowing in sales activity will probably be followed by price adjustments in many cities across the country. “But the Canada of today is very different than a pre-recession U.S., namely as far as borrower profiles are concerned. Therefore, when it comes to jitters regarding a U.S.-type meltdown here at home, the only thing we have to fear is fear itself.”

Unique in Westboro Have you dreamed of living in a gracious brownstone townhome, in a lovely old neighbourhood, surrounded by families and retirees and young professionals? Have you wished for something in Westboro, but without the old house hassle? Have you wanted to stroll along quiet tree-lined streets until you come to the old church, and your home?

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still available. Prices from $599,400. Spring 2014 occupancy. Sales Centre 613-825-0080 461 Edison Avenue ravenhillcommon.com Monday to Wednesday Noon to 7 p.m.

VE NA

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Thursday and Friday Closed

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Located just two blocks from the heart of Westboro, these stunning open concept two- and three-bedroom homes range in size from 1,360 to 1,930 sq. ft. and include such features as direct access from underground garage, two-storey galleries and open lofts, private rear terraces and roof-top decks.

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U O n N it l s y le 4 f t discover this unique enclave of 27 beautiful two & three bedroom freehold townhomes in ottawa’s established beacon hill neighbourhood.

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(613) 270-0777 SALES@TALOSHOMES.COM 26 New home & Condo guide eastern Ontario | dec 1, 2012 - jan 12, 2013

taloshomes.com

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www.longwoodbuilders.com

feature

Longwood Offers new adult Homes lifestyle community

re you looking for a new home with a little less yard, a little less work, no stairs, easy upkeep and something that’s not a drain on your time and money? But do you still want your own home, your own garden and your own garage? Look no further. Longwood Homes is thrilled to be releasing its new Deevy’s Homestead project. This quiet cul de sac, a former farm in Kanata, is surrounded by existing residential development – so there will be no surprises. The neighbourhood is completely established, and is part of the original Deev y family farm which subsequently evolved into Bridlewood, which later joined Kanata. This is the eighth adult lifestyle community which Longwood has built, and Deevy’s Farm boasts five attached bungalow designs. This private enclave on

your own road has only 22 homes available. Most designs include double car garages and the homes themselves are spacious, and designed for someone wanting to enter a more relaxed stage of life. Features such as open concept design, cathedral ceilings, granite countertops and gorgeous hardwood in the main living areas make entertaining easy. Each home has two bedrooms, two bathrooms and laundry room on the main level, as well as garage access from the house. Bathrooms, kitchen and foyer floors are beautiful ceramic and the kitchen features stunning natural granite countertops. Longwood has been selling attached bungalows since 1995 and know what their clients need. Exteriors are stone fronts with full brick all around. All designs can be adapted to barrier-free living for those who have or who anticipate decreased mobility. If you have guests, even a grown son or daughter, finished basements are optional, and some designs even include walkouts. Sizes range from 1,257 to 1,759 sq. ft. and the starting price is a low $364,900.

Longwood Homes Kanata

Here, you have all the advantages of city living, with quick access to the countryside, to the ski hills and lakes west of the city, to the equestrian park, golf courses and a range of recreational venues. Exceptional shopping is nearby, as well as restaurants, theatres, parks and of course, Scotiabank Place. You’re also only minutes away from the majestic peace and beauty of the Ottawa River. Please check out longwoodbuilders.com, or contact Christena Gervais at c.gervais@longwoodbuilders.com or 613.435.2155. The model home, which is the Cortland, can be viewed by appointment. The sales centre on 74 Equestrian Dr. is open Monday to Thursday noon to 6 p.m., Saturday and Sunday noon to 5 p.m. If you’re thinking of making a life change, think about Deevy’s Homestead by Longwood Homes – you’ll be glad you did.

builder Longwood Homes Location Kanata housing type Bungalows starting price Low $364,900, from 1,257 to 1,759 sq. ft. sales office 74 Equestrian Dr. Monday to Thursday noon to 6 p.m., Saturday and Sunday noon to 5 p.m. contact 613.421.9736 613.435.2155 | longwoodbuilders.com

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DISCOVER HIGHER VALUE AT A LOWER PRICE. See for yourself how your money goes further with a home in Kemptville Meadows! With zero down, you’ll get the incredible value of a new home in a country setting while enjoying all the conveniences of city life. Kemptville Meadows puts you close to everything, and all for over $70,000 less than a comparable home in Ottawa.

DECK

TO BOU

A ASK

ZERON DOWENT M† PARYOM GRA

LIVING

OTHER BUILDERS TOWN HOME PRICE

KEMPTVILLE MEADOWS PRICE

OTTAWA 1363 sq.ft. | 3 bdrm $356,900

KEMPTVILLE 1370 sq.ft. | 3 bdrm $286,500

HOW MUCH MONEY YOU SAVE AT KEMPTVILLE

MASTER BEDROOM

14'-0" x 11'-9"

11'-9" x 11'-9"

$70,400 IN SAVINGS!

LIN.

LAST CHANCE AT PRE-CONSTRUCTION PRICING!

DINING

BEDROOM 2

9'-2" x 9'-3"

HALL DW

KITCHEN 9'-2" x 9'-4"

from UP

HWT

BATH MECH. W./D.

219,500

HALL

The Hickory - 1370 sq.ft.

8'-9" x 10'-3"

Stacked Townhomes from 1138 sq.ft.

FURN.

BONUS!

PDR

DEN

10'-9"/14'-0" x 9'-11"/11'-9"

BEDROOM 1

11'-9"/14'-0" x 9'-2"/3'-11"

LIVING = 678 sq. ft.

BEDROOMS = 643 sq. ft.

RECEIVE 4 STAINLESS STEEL APPLIANCES OR

5000

IN FREE UPGRADES†

Sales Office Hours: Monday to Thursday 12pm - 8pm, Friday Closed, Saturday, Sunday & Holidays 11am - 5pm 206 Fir Lane [Follow the signs from Hwy 416 (Exit 34)]

kemptvillemeadows.ca l 613 366 2007 †Limited time offer, see sales representative for details. *Prices and specifications are subject to change without notice. E. & O. E.

30 New home & Condo guide eastern Ontario | dec 1, 2012 - jan 12, 2013

dec 1, 2012 - Jan 12, 2013 | New home & Condo guide eastern Ontario 31

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32 New home & Condo guide eastern Ontario | dec 1, 2012 - jan 12, 2013

gettingyourfinancesinorder

Housing affordability

and the one-third rule BMO Financial Group has some

good advice for homebuyers looking to get their finances in order: Stick to the one-third rule when planning the purchase of a home. When assessing whether a new home is financially realistic, remember that housing costs (including mortgage payments, utilities and taxes) should not take up more than one-third of your total household income. â&#x20AC;&#x153;If you can land safely within these parameters, then homeownership is an affordable and realistic option,â&#x20AC;? says Laura Parsons, mortgage expert, BMO Bank of Montreal.

Parsons added that Canadians looking to buy a home should choose a shorter amortization, which will save them thousands of dollars in interest over the life of the mortgage and ensure they can begin building equity in their home faster. For those looking to buy a home, BMO suggests trying its mortgage calculator (bmo.com/calculators) to determine how much you can realistically afford.

When assessing whether or not a new home is financially realistic, remember that housing costs (including mortgage payments, utilities and taxes) should not take up more than onethird of your total household income.

dec 1, 2012 - Jan 12, 2013 | New home & Condo guide eastern Ontario 33

moneymatters

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

getting

debt-free forever by gail vaz-oxlade

I’ve often said that getting to debt-free

is simple but it isn’t easy. And that’s the problem most people have with biting down and getting to work. They would rather whine about how horrible life is, complain about how stressed they are or simply stick their heads in the sand then get busy. If you’re one of the people who is procrastinating about taking control of your money and your life, you first have to figure out why you’re procrastinating.

34 New home & Condo guide eastern Ontario | dec 1, 2012 - Jan 12, 2013

At the University of Konstanz in Germany, a team of psychologists wanted to see if our tendency to procrastinate had anything to do with how we think of the task at hand. Could it be that if we see something as psychologically “distant” – such as getting to debt-free – that makes us resistant to tackling the task immediately. A group of students were asked to respond to a group of questions by e-mail within three weeks. The questions had to do with run-of-the-mill tasks like opening a bank account or keeping a diary. Students were given different instructions for answering the questions. Some were asked to think and write about each activity in an abstract way, as in what the task implied about personal traits: what kind of person has a bank account? Others were asked about the concrete steps of each activity: speaking to a teller, filling out forms, making an initial deposit. Then the psychologists waited and waited… and waited. They recorded all the response times to see if there was a difference between the two groups. Guess what? There was. A very clear difference. While all of the students were being paid upon completion, those who were asked to think about the questions abstractly were more likely to procrastinate. Some never got around to the assignment at all. Those who were focused on the concrete steps – the how, when and where of doing the task – got the job done sooner.

It seems that just thinking about what you want to accomplish in concrete, specific terms reduces our tendency to procrastinate. Blame your fear. Blame your sense of failure. Blame your belief that you can’t do it yourself. Whatever excuse you use, you’re guaranteeing your failure. Take the bull by the horns, lay out a plan of action, make that plan specific, measurable, achievable, realistic and timely, and you’re on your way to being debt-free forever. Start now. Each time you put off getting started you allow the problem to grow in size and complexity in your mind. For as long as you’re not doing something about a problem, you’re allowing the fear to build. Stop living in fear and start doing something different. Break down the steps. Make the plan concrete. Make the steps manageable. Setting a goal of being debt-free forever by the end of the year is great, but only if you also say how you’re going to do it. “I’m going to cut $200 in unessential spending from my budget and apply that to my debt repayment.” Those concrete steps are what will make the plan actionable.

Start now. Each time you put off getting started you allow the problem to grow in size and complexity in your mind. Enjoy the challenge. Yes, it may feel like you’re about to climb a mountain, but how you approach the mountain will make all the difference in the world. If you keep looking at how high it is and reinforcing how impossible it is to get to the top, you’ll fail. If you see each step you take up the mountain as something to celebrate, you’ll eventually reach the summit. Attitude counts.

dec 1, 2012 - Jan 12, 2013 | New home & Condo guide eastern Ontario 35

ottawa

hot sheet

Ottawa Eastern Ontario Gatineau Regions

ashcroft Homes Central Park • the next You want to live where downtown spirit meets community character. Where your prime location is your pathway to the best of Ottawa. Where bountiful green space blends naturally into your day. Where smart design shapes the experience outside and in. Where everything just clicks. The Next brings it all together – brilliantly. 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. It’s a marvel of community planning and building design, highlighted by inviting courtyards and communal spaces, and a grand centrepiece in Abbey Court, the upscale dining, shopping and leisure destination. 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 CARDEL HOMES KoL CONDO • Blackstone New Condos coming soon in Blackstone! We’re excited to bring a sleek collection of modern condos to, Kanata’s newest master-planned community, Blackstone. Featuring top-quality finishes in a contemporary building, KoL at Blackstone will offer the best of low-maintenance living. Register today to receive updates on this exciting new community. cardelhomes.com LONGFIELDS • Barrhaven New Community coming soon In Barrhaven! Featuring new home design surrounded by greenspace with quick access to shops, services, recreation and schools. Register today to receive updates on this exciting new community, coming soon. cardelhomes.com Construction Chabitat Gatineau • Les Vieux Moulins Our 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 Courtyards Ottawa • a Greatwise community Courtyards is a thoughtfully designed master-planned condominium community that infuses distinctive condominium residences with lush gardens and beckoning community spaces. Baseline Road at Morrison Drive., West Ottawa. Alexandra Kwong 613-693-0808, info@mycourtyards.ca mycourtyards.ca 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 green spaces, bike paths, and landmarks. 613-897-7873. thekavanaugh.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 EQ Homes Carp • Village Walk Offering bungalow townhomes and bungalow semis. eqhomes.com Ottawa • Canal East Coming soon. 10 executive townhomes, by the Rideau by EQ Homes. Designed by Barry Hobin. Located on the corner of Greenfield and Montclam. www.canaleast.ca KEmptville • eQuinelle & The Legends at eQuinelle Offering: Single-family detached bungalows and condo apartments. A new adult-lifestyle bungalow townhome model is now open in the master-planned golf-course community of eQuinelle, 15 minutes south of Barrhaven. eqhomes.com Kanata • Fernbank Crossing Site Location: 5611 Fernbank Rd. Sales Trailer Location: Corner of Tillsonburg and Terry Fox Dr. Opening soon – Fernbank Crossing an exciting new master-planned community with parks and open greenspace within easy walking distance of shopping. Discover an array of detached bungalows on 42- and 50-ft. lots, as well a limited release of semis. Contact: sales@fernbankcrossing.com eqhomes.com Kanata • Foxwood Offering condo apartments. eqhomes.com 36 New home & Condo guide eastern Ontario | dec 1, 2012 - Jan 12, 2013

Holitzner Homes Stittsville • Deer Run Final Phase now open - your last opportunity in Stittsville. Your choice of bungalows, main floor master homes and large two-storey homes on beautiful 46- to 50-ft. pie-shaped or wide lots backing onto greenspace. CARP • HIDDEN LAKE Offering the only large lot development in the West End, this private enclave features award-winning single-family homes, bungalows and twostorey homes built on spacious fully serviced sites surrounded by natural landscaped settings. Greenspace lots are also available with lake views. holitzner.com Holitzner/Tartan Homes Barrhaven • Fraser Fields A new neighbourhood featuring singles and semi-detached homes, located off Strandherd Dr. Close to established parks, schools, amenities and Hwy. 416. holitzner.com, tartanhomes.com LA Group EAST OTTAWA • UPPER EAST SIDE Final block under construction, only 12 executive stacked towns remain. Prime parkside location still available. June 2012 occupancies. Call 613-747-8863. uppereastside.ca Kemptville • Kemptville Meadows Discover higher value at a lower price! Stacked Townhomes from 1138 sq.ft. from only $219,500. Due to overwhelming demand, Phase 3 is now also under construction! Ask about our ZERO Down Payment Program and Limited Time Bonus Offer! Come tour our Model Home. 206 Fir Lane, Kemptville. 613-366-2007. kemptvillemeadows.ca Lamb Developments OTTAWA • Gotham Coming soon to centretown. gothamottawa.com Larco homes Barrhaven • Longfields Innovative semi-detached and single-family homes in Barrhaven – models now open – watch for ads! larcohomes.com Central • huntclub • Solera Inventory Sale - Save Thousands. larcohomes.com OTTAWA • Accolade Larco presents Accolade, 23 Upscale Townhomes in Craig Henry form $385,000 Model homes now open! larcohomes.com Les Placements Riviere Gatineau Ottawa • the viu Ultra modern condominium opening. theviu.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 now at distillerywarehouse.com to receive updates and an invitation to the VIP event. Downtown goes Southside! Call 613-793-5500 LONGWOOD Deevy’s Homestead Opening Soon • Kanata Adult Lifestyle Attached Bungalow Towns Equestrian Drive in Kanata. Pre-register now. deevyshomestead.com or call 613-738-1349 for appointment. HUNT CLUB • NEIGHBOURHOODS OF HUNT CLUB We have a new adult lifestyle attached bungalow community coming up in Hunt Club. Coming Soon: Adult lifestyle attached bungalows – for priority pre-pegister at: neighbourhoodsofhuntclub.com or call 613-738-1349 for appointment. ottawa • Sonia by the rideau New 70 Unit Condo in Ottawa East. e-mail d.greene@longwoodbuilders.com OTTAWA SOUTH • MONTAGE 36-unit condo building in Ottawa South. Sales centre now open and located at corner of Clementine and Ohio. Call 613-897-0044 or d.greene@longwoodbuilders.com 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. Experience all the fine restaurants and boutique shopping that Little Italy has to offer and pamper yourself with a hotelinspired SoHo Luxury condo. 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

ottawa

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! Mattino Developments Barrhaven • Longfields Central exciting new community coming soon! Longfields Central will consist of executive townhomes and condos nestled in a mature part of Barrhaven. It is surrounded by schools and shopping. Visit our sales centre and model homes located at 211 Claridge Dr. for further information. Phone 613-440-3767 or email info@mattinodevelopments.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. stittsville • deer run Metric is pleased to introduce one of our five new models the Maplewood 1 modified to our Deer Run community line up. Opening soon. At 3,200 sq. ft. plus open space, this home features a open loft at the second floor, circular staircase, walk in closet in most bedrooms, open to below area, laundry mudroom on main floor. The large kitchen, family room is able to entertain large groups of family or friends. Please visit us at 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 Landsdowne • Minto A new world of possibilities is opening at the heart of Ottawa. Centrally located between the Rideau Canal and the beautiful Glebe neighbourhood, Minto@lansdowne is an urban oasis at the heart of a bustling city. An exciting collection of high-rise suites and townhomes on sale this fall. Register today for our exclusive preview at: lansdowne.minto.com Minto/Canderel Westboro • UpperWest This 25-storey distinctive new residence offers stunning condos with the best views in Westboro. Located on the Ottawa River Parkway, UpperWest boasts dramatic, expansive views of greenery, water, the Ottawa skyline and miles of unobstructed scenery. Condo suites and townhomes on sale this fall – register now for an exclusive preview at: liveupperwest.com MONARCH CORP KANATA • BLACKSTONE Executive 46’ singles from $439,990. Two-storey townhomes from the high $200,000s. monarchgroup.net KANATA • Trailwest Executive townhomes from the high $200,000s. monarchgroup.net NEPEAN • STONEBRIDGE Ottawa’s award-winning golf course community. Luxurious singles from the mid $400,000s. Executive townhomes from the mid $200,000s. Stacked townhomes from the low $200,000s. Call: 613-692-9284 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 settlers’ grant KEMPTVILLE • PHASE 6 Estate lots fully treed with mature maples, birch, spruce, pine and Tamarack Custom built homes starting at $430,000 and premium lots priced for an additional $5,000 to $40,000. settlersgrant.ca SPRINGCRESS WESTBORO • RAVENHILL COMMON A private enclave of 19 Freehold Towns, designed by Barry J. Hobin & Associates Architects Inc., to create a striking harmony of heritage and contemporary design. Located just 2 blocks from the heart of Westboro, these stunning open concept 2 and 3 bedroom homes range in size from 1,360 to 1,930 sq. ft. and include such features as direct access from underground parking garage, two storey galleries and open lofts, private rear terrace and roof top decks. Get it all, lock and leave lifestyle, your own private yard and steps from all your favourite Westboro shops and restaurants Ravenhill Common, Contemporary Brownstones - 450 Churchill Ave. North, one block south of Byron at Ravenhill Sales Centre and model now open, entrance from 461 Edison Ave. corner of Ravenhill Prices from $599,400 Estimated project completion early 2014. ravenhillcommon.com Sales Info: (613) 825-0080 salesinfo@ravenhillcommon.com

hot sheet

TALOS HOMES ARNPRIOR • RIVER RIDGE Single-family homes – Visit our sales centre located at 979 Shefford Rd., Ottawa. Saturday and Sundays from noon to 5 p.m. or anytime by appointment. 613-270-0777. taloshomes.com Beacon Hill • EUPHORIA TOWNS Freehold townhomes – Visit our sales centre located at 979 Shefford Rd., Ottawa. Saturday and Sundays from noon to 5 p.m. or anytime by appointment. 613-270-0777. taloshomes.com Cartier wellington Gatineau • Cartier wellington A striking new landmark exterior composed of metal, glass and masonry built to rigid LEED ecological standards, contemporary architecture offers you energy efficient, ecological and innovative 14-storey modern structure. Huge windows engineered for thermal efficiency give abundant natural light in every living space. Already 50 per cent sold. Pre-construction pricing still in effect! cartierwellington.ca Tamarack Homes Leitrum • Findlay Creek Grand opening! Five new decorated townhome models in Findlay Creek Village. Call 613-247-0081 or visit tamarackhomes.com The Wayfare Brockville • Waterfront Condominiums The Wayfare is Brockville’s newest and most exciting 10-storey condominium featuring premium waterfront property with beautiful views of the 1000 Islands region of the St. Lawrence Seaway. Within walking distance of downtown Brockville, and only a short drive to Ottawa, Kingston and Toronto, The Wayfare offers exceptional on-site amenities including walkout shoreside patio, indoor pool and hot tub, exercise room, guest suites and indoor parking. SALES CENTRE AND MODEL SUITE NOW OPEN! 119 Water Street West (at Henry), Brockville ON. thewayfare.ca, info@the wayfare.ca or call 1-855-445-0445. Uniform Urban Developments 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 • Equinelle New 44-ft. lots now released on the golf course. View our two model homes. urbandale.com Kanata Lake Visit our modern elevations model homes called the Horizon Collection. Singles and town home models available for viewing. valecraft Homes Mer Bleue/Orléans • bradley estates New release of single-family homes and executive townhomes. New to Bradley Estates: nine re-designed models with full-brick fronts and stone skirts. valecraft.com WINDMILL DEVELOPMENTS OTTAWA • CATHEDRAL HILL CONDOMINIUMS Ottawa’s newest, most innovative condominiums are located on Sparks Street, west of Bay. With stunning views of the Ottawa River, Gatineau Park and Parliament Hill, these urban condominiums (targeting LEED Gold minimum) combine the vibrancy and convenience of downtown living with the calmness and serenity of a green oasis. For more information and to register, visit cathedralhill.ca or call 613-566-7010. Hintonburg • The Eddy Step out of the current and into The Eddy – six storeys of green, urban condos built for life in Hintonburg. Featuring a shared rooftop social space, this is the hippest address in Ottawa’s hippest neighbourhood. The Eddy – by Windmill Development Group, Canada’s greenest developer. Pre-register now at TheEddy.ca

dec 1, 2012 - Jan 12, 2013 | New home & Condo guide eastern Ontario 37

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.

38 New home & Condo guide eastern Ontario | dec 1, 2012 - Jan 12, 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 dec 1, 2012 - Jan 12, 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 Arnprior

Campanale

Riverwood Estates

Inquire

Carp

Holitzner

Hidden Lake

Inquire

Kanata

Cardel

Blackstone

Inquire

Kanata

Longwood

Deevy's Homestead

Kanata

Mattamy

Fairwinds

Kanata

Mattamy

Monahan Landing

Kanata

Monarch

Blackstone

Kanata

Monarch

Trailwest

Kanata

Phoenix

Fernbank Crossing

Kanata

Tartan

Trailwest

Kanata

Uniform Developments

Richardson Ridge

Kanata

Valecraft

Trailwest

Stittsville

Cardel

Deer Run

Inquire

Stittsville

Holitzner

Deer Run

Inquire

Stittsville

Metric

Arbourbrook Estates

Inquire

Stittsville

Tamarack

Jackson Trails

Inquire

From $364,900

From $224,990

6, 7

From $224,990

6, 7

Inquire

4, 5

x x

From high $200's

From $385,900

From low $300's

$497,000 From high $200's

9 25

Central Craig Henry

Larco

Accolade

From $369,000

Westboro

Springcress

Ravenhill Common

From $580's

3 25

SOUTH Barrhaven

Holitzner

Fraser Fields

Inquire

Barrhaven

Larco

Longfields

From $379,900

Barrhaven

Mattamy

Half moon Bay

From $225,990

6, 7

Barrhaven

Tamarack

The Meadows

Inquire

Hunt club

Larco

Solera

From mid $600,000

Hunt club

Longwood

Huntclub Bungalows

Kemptville

EQ Homes

Kemptville

Settlers' Grant

Kemptville

Stanley Fields

Kemptville Meadows

Leitrim

Tamarack

Findlay Creek

Nepean

Monarch

Stonebridge

Nepean Richmond

BC 3

Inquire

From $219,500

Inquire

4, 5

Monarch

The Links

Low $200's

4, 5

Metric

King's Grant

Inquire

South East Ottawa Tamarack South Ottawa

Campanale

Findlay Creek Prince of Wales on the Rideau

40 New home & Condo guide eastern Ontario | dec 1, 2012 - Jan 12, 2013

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

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EAST Beacon Hill

Talos

Euphoria

Inquire

Cumberland

Metric

Camelot Estates

Inquire

Orleans

Mattamy

Summerside

From $272,990

Orleans

Metric

Notting Hill

Orleans

Phoenix

Hillside Vista

Orleans

Tamarack

Chaperal

Ottawa East

Valecraft

Avaition Private

Pineview

Campanale

Stonehenge Park

Rockland

Longwood

Morris Village

6, 7

Inquire

From $277,241

From $259,900

CONDO Aylmer

Construction Katasa

Chateau Cartier

Inquire

C24

Aylmer

Construction Salura

Condos Du Rivages

Inquire

C33

Barrhaven

Campanale

Longfields Station

Inquire

Brockville

Windmill Developments

The Wayfare

From $300's

C32

Central

Domicile

The Kavanaugh

From $271,800

C15

Central

Longwood

Sonia

Inquire

Central

Minto

Lansdowne

Inquire

C11

Central

Soho Parkway

Soho Champagne

From $288,900

Central

Soho Parkway

Soho Lisgar

From $289,900

Central

Ashcroft

The Next

From mid $200's

C17

Downtown

Ashcroft

RE on the Sparks

Mid $300's

C35

Downtown

Broccolini Construction

The Slater

From $199,900

Downtown

Lamb Developments

Soba

From $179,900

C21

Downtown

Richcraft

The Edge

From $230,000

C12

Downtown

Urban Capital

Central 2

Inquire

C13

Downtown

Windmill Developments

Catherdral Hill

Inquire

C20

East Ottawa

L.A Group

Upper East Side

Inquire

Gatineau

Cube Marketing

The VIU

Inquire

C14

Hintonburg

Windmill Developments

The Eddy

Inquire

C26

Longwood

Montage

From $277,900

C23

Orleans

Cardel

Notting Hill

From mid $200's

C36

Ottawa Central

Urbandale Corporation

99 Parkdale

Inquire

C25

Ottawa West

Minto

Upper West

Inquire

C10

Ottawa West

Phoenix

Pointe West

From $195,600

C29

South Ottawa

Linden Developments

Distillery Warehouse

From $238,000

C27

South Ottawa

Theberge Homes

Alta Vista Ridge

From low $170's

C31

West Ottawa

Qualicum

Woods Crossing

Inquire

C28

Westboro

Ashcroft

QWest

From low $230's C18, C19

dec 1, 2012 - Jan 12, 2013 | New home & Condo guide eastern Ontario 41

Please see advertisers ads for Site locations

42 New home & Condo guide eastern Ontario | dec 1, 2012 - jan 12, 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.

401

Phase Two Coming Soon

Where town meets country

Nestled between Orleans and Blackburn Hamlet, minutes south of the Blackburn Hamlet bi-pass. Eastboro offers a perfect blend of country comfort and style with city amenities nearby. Surrounded by fertile farmlands and miles of country roads, this self-contained family oriented community features bountiful parks, a school, and a romantic promenade, all brilliantly integrated to create the perfect urban-rural balance. Get the home of your dreams, in a picturesque rural setting, with all the conveniences of city living nearby.

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