GTA Condo Life - March 8, 2025 by NextHome

The Condominiums

TIME TO DELIVER

WAYNE KARL EDITOR-IN-CHIEF

Condo Life Magazine

EMAIL: wayne.karl@nexthome.ca

TWITTER: @WayneKarl

At time of writing, the U.S. administration had just applied tariffs on some Canadian-made products, and Canadian officials were preparing a response.

Any more uncertainty is not what anyone needs as we should be preparing for a busy spring in the real estate market, and getting on with the business of building more homes.

So, for guidance, we look to the newly re-elected Conservative Doug Ford government – not so much for a tariff response, since that is largely federal – but to focus on matters directly under his control. In the context of housing, that means addressing the issues holding back homebuilding and buying.

While Ford won a third consecutive majority government, critics –industry and public – argue he isn’t doing enough on the housing file.

“Runaway taxation, exorbitant development charges and glacial development approvals processes are crippling the residential construction industry and significantly adding to the cost of building a home in Ontario,” says Richard Lyall, president of the Residential Construction Council of Ontario (RESCON). “We are ready to continue to work alongside the Ford government to remove barriers to building homes and create an environment that will get more shovels in the ground. The challenge is big, but we must deliver.”

Despite these challenges, there are opportunities for prospective homebuyers.

“With spring on the horizon, now is a prime time for new-home buyers to step into the market. Prices have dropped approximately 20 per cent from the peak in 2022, and with interest rates easing, buyers have a unique opportunity to secure a new home at a favorable price,” says Justin Sherwood, senior vice-president of communications, research and stakeholder relations, at the Building Industry and Land Development Association. “However, it is important to recognize that the ‘cost to build’ a new home remains high, due to fixed factors like labour and material costs. This means we are likely at the floor on prices. With current inventory levels, the market is also offering more choice than ever, but this combination of lower prices and reduced interest rates may not last long. For buyers, now is an ideal time to act before conditions shift again.”

There has been some progress, including municipalities such as Burlington, which last year passed a bylaw to reduce developers fees by 45 per cent and. In November, Vaughan rolled back its rates 2018 levels, and Mississauga more recently took action, as well.

Premier Ford likes to say “we’re using every tool in our toolbox.”

When it comes to housing, now is the time to pull out all the stops. Now is the time to deliver.

CONTRIBUTORS

HOME DESIGN | MARIAM ABOUTAAM

An award-winning interior designer, Mariam Aboutaam is Director, Sales and Marketing, Interior Design at Kylemore, Markham, Ont., a builder known for master-planned communities and luxury homes. kylemoreliving.com.

PERSONAL FINANCE | JESSE ABRAMS

Jesse Abrams is Co-Founder at Homewise, a mortgage advisory and brokerage firm based in Toronto. thinkhomewise.com

TRREB REPORT | ELECHIA BARRY-SPROULE

Elechia Barry-Sproule is President of the Toronto Regional Real Estate Board (TRREB) and Broker/Owner of Red Apple Real Estate Inc. She is committed to mentoring and supporting real estate professionals across the industry. trreb.ca.

WESTERN VIEW | MIKE COLLINS-WILLIAMS

Mike Collins-Williams, RPP, MCIP, is CEO West End Home Builders’ Association. westendhba.ca.

HOME REALTY | DEBBIE COSIC

Debbie Cosic is CEO and founder of In2ition Realty. She has overseen the sale of more than $15 billion worth of real estate. With Debbie at its helm, In2ition has become one of the fastest-growing and most innovative new home and condo sales companies. in2ition.ca

REAL ESTATE PRO | BARBARA LAWLOR

Barbara Lawlor is President and CEO of Baker Real Estate Inc., and an indemand columnist and speaker. A member of the Baker team since 1993, Barbara oversees the marketing and sale of condo developments in Canada and overseas. baker-re.com

MARKET EXPERTISE | LIANNE MCOUAT

Lianne McOuat is Vice-President, Strategy, at McOuat Partnership, with builder/ developer clients including in lowrise, midrise, highrise, master-planned, adult lifestyle, resort/recreational, retirement, commercial, industrial and multi-family leasing. mcouatpartnership.com.

STAT CHAT | BEN MYERS

Ben Myers is the President of Bullpen Consulting, a boutique residential real estate advisory firm specializing in condominium and rental apartment market studies, forecasts and valuations for developers, lenders and land owners. Contact him at bullpenconsulting.ca and @benmyers29 on Twitter.

LEGALLY SPEAKING | JAYSON SCHWARZ

Jayson Schwarz LL.M. is a Toronto real estate lawyer and partner in the law firm Schwarz Law LLP. He can be reached by visiting schwarzlaw.ca or by email at info@schwarzlaw.ca or phone at 416.486.2040.

BILD REPORT | DAVE WILKES

Dave Wilkes is president and CEO of the Building Industry and Land Development Association (BILD), the voice of the home building, land development and professional renovation industry in the GTA. For the latest industry news and new home data, follow BILD on Twitter at @bildgta or visit bildgta.ca

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EDITORIAL DIRECTOR

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EDITOR-IN-CHIEF – GREATER TORONTO AREA

Wayne Karl wayne.karl@nexthome.ca

CONTRIBUTORS

Mariam Aboutaam, Jesse Abrams, Elechia Barry-Sproule, Mike Collins-Williams, Debbie Cosic, Barbara Lawlor, Linda Mazur, Lianne McOuat, Ben Myers, Jayson Schwarz, Dave Wilkes

EXECUTIVE MEDIA CONSULTANTS Jacky Hill, Michael Rosset

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GTA HOME SALES AND AVERAGE PRICE EXPECTED TO INCREASE MODERATELY IN 2025

The Toronto Regional Real Estate Board’s (TRREB) Market Outlook and Year in Review report reveals that a well-supplied housing market will keep average annual home price growth at the rate inflation, with the average selling price increasing moderately in the GTA over the course of the year.

“A growing number of homebuyers will take advantage of lower borrowing costs as we move toward the 2025 spring market, resulting in increased transactions and a moderate uptick in average selling prices in 2025,” says TRREB Chief Market Analyst Jason Mercer. “However, the positive impact of lower mortgage rates could be reduced, at least temporarily, by the negative impact of trade disruptions on the economy and consumer confidence.”

THE 2025 OUTLOOK

For 2025, TRREB forecasts:

• A total of 76,000 home sales in 2025, up by 12.4 per cent over 2024. Lower borrowing costs coupled with ample supply will improve affordability and prompt more buyers to move off the sidelines.

• The average selling price to reach $1.14 million, up by 2.6 per cent over 2024, for all home types combined. Price growth will be stronger for single-family homes, as compared to the well-supplied condo apartment market.

The Ipsos polling results on buying and selling intentions show:

• 28 per cent of survey respondents said they are likely to buy a home in 2025. Nine per cent of these respondents are very likely to purchase a home this year. These results matched intentions for 2024.

• First-time buyers accounted for 42 per cent of intending homebuyers.

• On average, homeowners rented for 8.5 years before purchasing their first home.

However, 25 per cent of homeowners said they rented for two years or less before buying.

• Intended down payments remain substantial, at an average of 28 per cent of the purchase price.

• 37 per cent of survey respondents said they are likely to sell a home in 2025, with 14 per cent very likely to sell. This result was in line with 2024 polling.

• The great majority of poll respondents said that high taxes are making homeownership less affordable, and if taxes continue to increase many will have to adjust their home buying intentions.

“As we look to the future, prioritizing housing diversity and supply remains paramount,” says TRREB President Elechia Barry-Sproule. “Encouraging the development of missing-middle housing – such as townhomes, duplexes, and lowrise multi-unit buildings – is critical to delivering a range of attainable options for individuals and families. Purpose-built rentals also play a vital role in ensuring everyone has access to a place they can call home.”

The report also unveils new research on traffic congestion and its staggering societal and economic impact on GTA residents. In addition, solutions to reduce the Landlord and Tenant Board backlog are presented alongside policy recommendations

aimed at addressing issues within Ontario’s tax, development charge and municipal funding frameworks.

“At TRREB, we believe the solution starts with collaboration,” says TRREB CEO John DiMichele. “Traffic congestion and affordability are interconnected challenges that require integrated approaches. The current system of high development charges, taxes and administrative hurdles only exacerbates the issues. This stalls progress on building the housing supply we need to support our growing communities.”

JANUARY MARKET SUMMARY

GTA realtors reported 3,847 home sales through TRREB’s MLS system in January 2025, down by 7.9 per cent compared to the same period last year. New listings amounted to 12,392 – up by 48.6 per cent yearover-year. On a seasonally adjusted basis, January sales were up monthover-month compared to December 2024. The MLS Home Price Index Composite benchmark was up by 0.44 per cent year-over year in January 2025. The average selling price, at $1.04 million, was up by 1.5 per cent over January 2024.

TRREB LAUNCHES CAMPAIGN TO TACKLE RISING HOUSING COSTS

In response to the ongoing housing affordability crisis, the Toronto Regional Real Estate Board (TRREB) is launching a new campaign –Fair Taxes on Ontario Homes – to demand lower taxes and help bring homeownership back within reach for Ontarians.

The campaign launch comes as newly released Ipsos polling reveals that the housing crisis is driving young Ontarians out of the GTA, with 72 per cent of residents aged 18 to 34 planning to leave in the next five years due to affordability concerns. Meanwhile, 75 per cent of respondents believe the next generation of GTA residents will have a lower quality of life than the current one, painting a bleak picture of Ontario’s housing future.

“Ontario is in a housing affordability crisis, and unfair taxes are a major part of the problem,” says TRREB President Elechia Barry-Sproule. “With onethird of a new home’s price going to government taxes and fees, we are overtaxing housing to the point where new construction is slowing, affordability is worsening, and young families and individuals are being pushed out of their communities. All levels of government must act now to reduce these tax burdens.”

According to a 2024 Canadian Centre for Economic Analysis (CANCEA) report, 36 per cent of the purchase cost of a new home is made up of government taxes and fees. On an average priced new home, a buyer will pay more than $380,000 in taxes and fees. Thanks in large part to the high tax burden on homes, Ontario is lagging other provinces on housing starts – making our affordability problem even worse.

“We should not treat housing like a high-end luxury good to be taxed. Instead, a home should be treated like a human right,” says TRREB CEO John DiMichele. “Housing taxation policy in Ontario needs a major reform so

we can bring affordability back to the market and get more homes built faster.”

Housing affordability has emerged as a top concern across Ontario. In Toronto, 89 per cent of residents –along with 89 per cent in Peel and 80 per cent in Simcoe – are concerned about the cost of housing. Only one in five Ontarians believe governments at all levels are doing enough to address the housing supply crisis (22 per cent municipal, 20 per cent federal and 18 per cent provincial).

TRREB’s Fair Taxes on Ontario Homes campaign calls on governments to take three immediate actions to unlock housing supply and lower costs for homebuyers:

• Cut development charges (DCs): Across the GTA, DCs have increased significantly in recent years, adding as much as $139,000 to the cost of a new home in some GTA municipalities. TRREB is urging the provincial and federal government to increase funding for municipalities to reduce their reliance on these excessive fees.

• Reform the land transfer tax (LTT): Homebuyers in Toronto now pay more than $36,000 in LTT on an average-priced home. TRREB is calling for an increase in the first-

time homebuyer rebate and for both the provincial and local government to consider eliminating the tax for first-time buyers entirely.

• Review municipal taxation: TRREB is pushing for a comprehensive review of municipal revenue tools (DCs and property taxes) to reduce housing-related tax burdens.

TRREB’s campaign is rallying homebuyers, renters and industry professionals to demand change from policymakers. “We are also calling all political parties in the Ontario election to commit to lowering taxes on Ontario homes,” says Barry-Sproule. Ontarians can add their voices to the Fair Taxes on Ontario Homes campaign by visiting fairhometaxes.ca. The One Stop Shop for Builder Storytelling

CENTRAL PARK, WHERE THE URBAN AND NATURAL WORLDS CONNECT

NATURE-INSPIRED COMMUNITY IS RISING IN THE BAYVIEW VILLAGE NEIGHBOURHOOD

Construction of Amexon’s The Residences at Central Park is well underway on Sheppard Avenue in the east end of the prestigious Bayview Village neighbourhood. Central Park is a vibrant, mixed-use condominium community where urban life meets and marries with the natural world – residents enjoy proximity to a range of urban conveniences, and also have direct access to the East Don Parkland’s sprawling, forested ravine that embraces the property in lush nature.

This master-planned development is one of the largest residential projects currently under construction in Toronto. The first residential building in this 12-acre, environmentally sustainable community is sold out, with phase two launching soon. Buyers are responding with enthusiasm for a variety of reasons, including Central Park’s excellent location, forward-thinking Green features, and an array of indoor and outdoor amenities offering lifestyle opportunities for all ages.

Central Park was recently the winner of the coveted IPAX Americas Property Award for Best Sustainable Residential Development in Canada. Additionally, the Ontario Home Builders’ Association (OHBA) has awarded Central Park with the Project of the Year Award – People’s Choice. This highly sought-after award recognizes project excellence and is given to a company that exemplifies outstanding professionalism and integrity with its business, community and the industry at large. “Our project team includes a group of talented consultants including CORE Architects Inc. and II BY IV Design,” says Amexon’s Executive Sales Manager Jason Shiff.

Central Park is just down the street from Bayview Village Shopping Centre, offering everything from upscale restaurants and retail to lifestyle and wellness venues. And getting around the city, the GTA and beyond will be incredibly convenient – the Leslie subway station and relocated Oriole GO station are situated at Central Park, so residents have public transit available right at their front door.

In addition, Yorkdale, Fairview Mall, golf courses, parks and other destinations are within easy reach with Hwy. 401, the 404 and Don Valley Parkway close by.

At the heart of the community, is the award-winning Central Park Common – a landscaped, threeacre urban park that will resemble a traditional village green. Destined to become a social hub to meet with friends and neighbours, this park will

feature pedestrian-friendly streets lined with bike paths, casual dining venues, fountains, reflecting pools and year-round programming that will include a farmers’ market and ice-skating rink. Other highlights include retail space, restaurants and services including on-site daycare facilities.

The East Don Parkland’s 500 acres of lush, urban forest embraces Central Park, making

nature a neighbour and elevating an active lifestyle in this prime Toronto location.

“Central Park is a nature-inspired, upscale community unlike anything else in Toronto,” says Shiff. “Central Park will be a quiet oasis in vibrant urban surroundings, where outdoor lovers are going to be able to immerse themselves in nature all year long. The ravine is part of the Don River Valley parklands where

there’s a network of walking and cycling trails to explore that lead all the way downtown. And the trails are beautiful during all four seasons, so residents can enjoy outdoor pastimes to the fullest, like hiking, biking, birding and cross-country skiing. The opportunities for a high quality of life in this upscale community are exceptional.”

With environmental sustainability high on the priority list, Central Park has been recognized by the Building Industry and Land Development Association (BILD) as a finalist for the Green Builder of the Year award. The entire community will be constructed to Amexon’s Green Development Standard incorporating industry-leading Green features. Setting a new standard in the sustainability arena, Central Park is the first large-scale project of its kind in Canada to include EV charging stations in all parking areas for residents, visitors and office tenants, as well as retail patrons for the restaurants and cafes. All in all, there will be more than 1,500 charging stations installed. Additionally, there will be on-site auto- and bike-share

options available. The towers’ design features reflective solar panels that supplement the building’s energy needs, and Green roofs that reduce energy consumption. Thermal building envelopes minimize energy usage and next-generation mechanical systems incorporate advanced airflow and filtration.

The visionary design of Central Park is another attraction for prospective residents. Amexon enlisted an award-winning team to craft what is sure to become a local landmark. CORE Architects has created a striking exterior for the condominium towers that focuses on an intimate connection with nature – the façades feature an organic leaflike design in a continual interplay of sun and shade, and six-ft.-deep balconies offer inspiring views of the Toronto skyline and meandering East Don Parkland ravine through floor-to-ceiling windows. Central Park’s design features an elegant, hotel-inspired, port-cochere entry, with an artisan-designed fountain, original art installation and lush landscaping by renowned Cosburn Nauboris Landscape

Architects. These architectural highlights express a harmonious coexistence between sparkling glass and nature, setting this condominium residence apart as something truly visionary.

Suite and amenity interiors by II BY IV DESIGN are both warm and sophisticated, with modern features and finishes grounded in natural materials and earthy colours. The focus was on capturing the allure and comfort of nature, uniting a love of the outdoors and creative living. The effect is new and fresh, evoking a conception of classic modernism.

All Central Park residents will have the use of 55,000 sq. ft. of fitness, wellness, leisure and social amenity space. A highlight is The Park Club, where fitness enthusiasts can access indoor and outdoor saltwater pools, a state-of-the-art fitness club and half-court basketball. Families are sure to make great use of the screening room/theatre, ice-skating rink, piano lounge, bowling alley, private event space, hobby studio and kids’ club. Guest suites will be available to accommodate friends and family members.

Among the other leisureinspired amenities will be rooftop Zen gardens, barbecue areas, golf simulator, a yoga studio, recording/ media studio and pet daycare/ grooming facilities. The Park Club will include a 5,000-sq.-ft. coworking space, catering to the evolving needs of professionals who are working remotely, that will foster networking and productivity for either a hybrid work model or growing your own business, with smart technology, meeting rooms, hot desks and a business centre –giving new meaning to “working from home.”

The community will eventually encompass more than 1,500 suites in one- to three-bedroom

plus den layouts, in sizes from 439 to 1,200 sq. ft. Features and finishes include nine-ft.-high ceilings and European-inspired kitchen cabinetry by II BY IV DESIGN. Best of all, these living spaces incorporate flow-through layouts that make the most of spectacular views from the floor-to-ceiling windows and generous outdoor balconies. Prices begin from the $700,000s.

Amexon Development Corp. is one of Toronto’s most prominent and innovative real estate developers, building their reputation as a multiaward-winning firm by delivering superior-quality properties. The firm owns and manages an impressive portfolio of office, retail, industrial, hotel and residential properties.

Amexon’s award-winning, mustsee 10,000-sq.-ft., all-glass Central Park Presentation Centre is located at 1200 Sheppard Ave. E., Toronto. Flooded with natural light through its floor-to-ceiling glass walls, the centre was built to be a permanent fixture, with plans for it to serve in future as a community event venue once the site is built out. Visitors can indulge in gallery-like surroundings that include kitchen, bathroom and walk-in closet vignettes, and explore a curated selection of premium interior finishes and high-end appointments that come standard here.

For more information, call 416.252.3000 or visit centralparktoronto.com.

DEVELOPMENT CHARGES

Modernization of Development Charges Act necessary to tackle sky-high fees

A new study recommends that the province modernize the development charge (DC) system to help reduce housing costs and make the system more efficient.

HOUSING POLICY

Mississauga taking bold action to make homes more affordable

Mississauga City Council recently approved a motion from Mayor Caroyln Parrish to make Mississauga housing more affordable, including with incentives to kick-start development and get more homes built quickly.

PERSONAL FINANCE

Tips and tricks for mortgage renewals in 2025

As we move into 2025, Canadian homeowners renewing their mortgages may face a new reality: Higher interest rates compared to their initial mortgage terms. While this might seem daunting, it’s also an opportunity – to shop around, negotiate and take control of your financial future.

Prospective homebuyers in search of larger homes, more space and possibly outside the Greater Toronto Area, might want to make their way to Niagara Region, where Silvergate Homes has built a reputation for exceptional quality and a commitment to customer service. Sales and Marketing Manager Kelly Anderson shares her insights.

HOUSING MARKET

Housing market poised to continue return to growth from 2024 Elevated interest rates and economic and political uncertainty weren’t enough to seriously hamper the housing market in Canada in the fourth quarter of 2024, according to the Royal LePage House Price Survey.

Visit nexthome.ca

Q&A In Conversation With... Kelly Anderson, Sales and Marketing Manager, Silvergate Homes

THE STATE OF THE NEW CONDO MARKET:

CHALLENGES, OPPORTUNITIES, AND WHAT COMES NEXT

The Greater Toronto Area (GTA) new condo market is undergoing a period of recalibration. Investors, end-users and developers are navigating shifting market conditions, including declining pre-construction sales, long-term supply constraints and subdued short-term rental growth projections. While some view this as a market correction, others see a strategic buying opportunity.

GTA new condo sales have slowed significantly, with approximately 5,000 units sold in 2024. Bullpen Research & Consulting projects a modest improvement in 2025, forecasting an increase to 6,300 units.

Christopher Wein of Equiton, a veteran GTA condo developer, emphasises the need to distinguish between short-term speculators and long-term investors. “People who are in it for the long haul and understand market cycles see this as an opportunity,” Wein says.

Higher borrowing costs have made mortgage qualification more challenging, prompting some preconstruction buyers to explore alternative financing options. Many are considering contract assignments, co-signing arrangements, or even private lending to close their purchases. “People need to understand the potential legal repercussions of failing to close on their units,” says Daniel Vyner of DV Capital in another recent report. While

developers have historically shown flexibility, firms such as CentreCourt now place greater emphasis on buyer qualification upfront to mitigate legal risks. There are some very strong deals to be had if a someone is willing to purchase an assignment.

Today’s slowdown in preconstruction sales will have farreaching consequences in the coming years. Lenders typically require at least 70 per cent of a project’s units to be sold before construction can commence. With many developments struggling to meet this threshold, fewer construction starts are anticipated. In 2024, new condo starts fell to less than 9,300 units –the lowest level since 2002 – while completions reached a record high of nearly 30,000 units. However, this level of completions is unlikely to persist. By 2028, new condo completions are expected to decline sharply to approximately 9,500 units.

Another major factor influencing the market is foreign investment policy. While government restrictions have limited foreign buyer activity in recent years, developers argue that immigration and international capital remain critical to financing and delivering new housing. In this context, housing is increasingly viewed as essential infrastructure rather than merely a commodity.

Despite current conditions, many prospective buyers remain hesitant, waiting for further price corrections or interest rate reductions. However, some industry leaders are pushing back against this approach. Mattamy Homes, for instance, has launched a national public relations campaign

to shift sentiment away from market timing and toward the long-term benefits of homeownership. The company’s messaging underscores that as mortgage rates decline, demand will increase, pushing prices higher. Buyers who act now could benefit from equity appreciation and more favourable pricing before the market tightens.

White the GTA condo market is in transition, the long-term fundamentals suggest that current conditions may present an attractive entry point. A slowdown in supply today means fewer new units will be available in the coming years, and rising rental demand is expected to support stronger price growth over time. For those willing to take a long-term perspective, today’s market offers a rare opportunity to invest ahead of the next upswing. However, buyers should conduct thorough due diligence, as pricing strategies vary across projects – some developers have maintained peak pricing, while others have adjusted closer to resale levels. Surround yourself with an experienced team and do your homework. Good luck.

BEN MYERS

PAGE TURNERS:

WHY PRINT STILL HAS A BIG IMPACT

LIANNE

As a strategic marketer with three decades of experience, I sometimes feel like I’ve seen everything come and go. I’ve been writing industry articles for almost as long, and seven years ago, I wrote one asking if print media was dead. You know what? That topic is probably worth a second look because almost every day, I find myself still making the case for print media in marketing strategies, and personally, I find myself drawn to print more than ever. “Print is dead” is spoken like it’s a given, but let’s set the record straight: Print is important not just for marketers but for consumers, too. It’s crucial (now more than ever) to evaluate how you engage with content, and why.

PRINT STANDS OUT

This is a crowded marketplace, and the competition for your attention has never been greater. In today’s diverse media landscape, a social media post may connect with you on multiple levels, but a print ad has a stronger impact. A fairly-recent study in Neuropsychology Review looked at the effects of different media formats on memory retention, and it found that tangible formats lead to stronger

long-term retention than digital ones. The study proved that when readers engage in a tactile way with printed material, the engagement that takes place is deeper, which leads to improved recall and understanding of the content.

CONSUMER CONFIDENCE

Consumers’ attitudes toward print material not only helps them retain information but it also influences their perception of brand credibility. Living in what has been called the age of misinformation, consumer confidence is waning for the digital media landscape. According to a Pew Research Center report, The Future of Truth and Misinformation Online, consumers believe that traditional print media carries more credibility – a trust that helps strengthen brand loyalty in this skeptical, media-savvy climate.

PERSONAL PREFERENCE

Not everyone is the same. Some people like to scroll for hours on their phones, while others prefer to curl up and flip through a magazine. Many choose print over digital to reduce eye strain or focus in distraction-free environments. And some enjoy the satisfying experience of holding a book or magazine, flipping through pages and taking in the smell of paper for plain, old-fashioned enjoyment. Plus, the nature of a newspaper or magazine allows readers to clip, save,

revisit and share ads, creating that personalized visual/tactile reminder that digital can’t replicate (the power of the front of the refrigerator or the paper on top of your desk hasn’t been praised enough).

PATIENCE PAYS OFF

Sure, print takes longer to show measurable results for my clients, but it has been psychologically proven to have a longer shelf life. It’s all about patience, and the value print brings goes beyond simple costper-thousand metrics. By leveraging the unique strengths of both print and digital, marketers can create unforgettable campaigns that cut through the noise and resonate with audiences like never before. Not everything in this world is one or the other – print and digital don’t need to be rivals; they’re powerful partners. And if you question whether print advertising works, you just proved it by finishing this article.

MCOUAT

YES, THERE ARE SINGLE BUYERS

IN TODAY’S HOUSING MARKET

We do see a substantial percentage of single people purchasing homes today, even in the face of high prices. In 2016, Census data show that a substantial percentage of purchasers in Canada were single. In 2019, Statistics Canada published a study that examined the prevalence and characteristics of people living alone in our country. From 1981 to 2016, the number of solo dwellers increased from 1.7 million to 4 million. The report also predicted that one-person households would likely increase over the next few years, especially as our population ages.

How is that still possible, and how, oh how do they manage it? Today’s savvy buyers understand the nuances of planning for this major life step.

First and foremost, buyers have to consider the down payment, which is always a challenge. Of course, the bigger the down payment, the more affordable the mortgage payments. Nowadays, families (especially parents and grandparents) are helping with that. Even when that is not the case, we see young hopefuls saving money like never before, the way we Baby Boomers did decades ago. They forego luxuries such as movies, concerts and eating out to deposit more into their savings. They are careful to keep good credit scores, which inevitably help in obtaining mortgages. There are online

mortgage qualifier tools that can help them figure out what they can afford – plus, getting pre-approved for a mortgage is a great idea.

Today’s single buyers also know how to research government programs for first-time buyers and take advantage of everything for which they qualify. This includes using some of their RRSPs toward the down payment. There is also the First Home Savings Account, which enables firsttime buyers to save toward building or buying tax free (up to certain limits). Visit cmhc-schl.gc.ca for more information.

Of course, timing plays a part – and frankly, the Bank of Canada cutting interest rates by another 25 points on Jan. 29 is another feather in the first-time buyer’s cap. Plus, inflation remains at two per cent, which is great news for all Canadians. Imagine how we felt decades ago when interest rates shot up to double-digit numbers. Today’s homebuyers benefit greatly from this step.

Single buyers also choose locations carefully, perhaps selecting an up-and-coming neighbourhood over an already popular one where infrastructure and amenities are already in place. They may also consider smaller homes or condominiums than they would ideally

like, for affordability purposes. In fact, today’s compact homes and condo suites live larger than ever before because of efficient designs. And often these are condominiums close enough to public transit that the homeowners do not require vehicle ownership. That saves many thousands of dollars each year that can go toward paying down the mortgage.

Some single buyers have dreamed of owning a home since childhood and do everything they can to make that happen. Some even work more than one job to earn extra money. These forward-thinkers opt to pursue careers that will enable homeownership at some point, and they enter the market as soon as they can to begin earning equity. However they package their approach, singles purchasing new homes are an inspiration to us all.

Barbara Lawlor is CEO of Baker Real Estate Inc. A member of the Baker team since 1993, she oversees the marketing and sales of new home and condominium developments in the GTA, Vancouver, Calgary and Montreal, and internationally in Shanghai. baker-re.com

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BARBARA LAWLOR

Winston, by Insoho

THE FUTURE OF PROPTECH IN CANADA

2025 INNOVATIONS AND TRENDS

The Canadian PropTech industry is undergoing a transformative shift. As highlighted in the 2024 PropTech in Canada Report by Proptech Collective, the past year was marked by economic headwinds, a heightened focus on sustainability and the swift integration of artificial intelligence (AI) across the real estate industry. Looking ahead to 2025, AI-driven efficiencies, modular construction and integrated digital transactions are set to redefine how properties are built, managed and sold.

AI: RESHAPING REAL ESTATE AND CONSTRUCTION

On the path of PropTech innovation, AI improves efficiency at almost every touch point within these segments. According to the report, AI is transforming construction planning by “analyzing regulations and optimizing compliance processes, speeding up approvals and reducing bottlenecks in urban planning.” AI also makes construction safer and more predictable by improving scheduling, automating risk management and optimizing material use.

For example, in residential real estate, AI is helping streamline the process of lead-to-sale and lead-tolease by automating manual tasks currently performed by brokers and property managers. “AI-powered tools act as copilots for real estate agents, assisting with scheduling, data analysis and client interactions, enhancing productivity and decision-

making,” the report states. AI also plays a key role in tenant screening by analyzing large datasets to predict reliability and risk.

MODULAR CONSTRUCTION AND SUSTAINABLE MATERIALS

With labour shortages and rising costs, modular and offsite construction methods are gaining momentum. The report highlights that “assembling components offsite shortens construction timelines, reduces costs and improves quality control.” This trend is being reinforced by government-backed initiatives such as the CMHC Housing Supply Challenge, which provides funding to companies developing scalable, innovative housing solutions.

Sustainability is also driving material innovation. Recycled components and low-carbon concrete are increasingly being used to reduce environmental impact while improving building performance.

INTEGRATED AND DIGITAL REAL ESTATE MARKET

The digitization of real estate transactions is reshaping the industry. PropTech companies are integrating financing, insurance and transaction management into single platforms, reducing friction for buyers and sellers. The report notes that “homebuyers and sellers are demanding more seamless, efficient processes,” and that new platforms simplify transactions by consolidating services.

PropTech tools offered by companies such as Blackline and Mave are eliminating inefficiencies, reducing friction in the sales process and enhancing the overall experience

for buyers and sellers. The push toward automation and smarter digital workflows is a trend that will only accelerate in the coming years.

LOOKING AHEAD

Despite a tough funding environment, Canada’s PropTech sector secured $800 million in investments in 2024, with more than 65 M&A transactions signaling consolidation. As 2025 unfolds, AI, automation and sustainability will continue to drive industry change. With a deep talent pool and growing investor interest, Canada remains a strong hub for PropTech innovation. The challenge lies for industry leaders to adapt to these rapid advancements and leverage them for long-term success.

Tim Ng is Founder and CEO of ADHOC STUDIO and BLACKLINE, pioneering industry-leading digital solutions merging real estate, art and technology to transform the sales experience. To explore ADHOC’s award-winning renderings and BLACKLINE’s innovative sales platform, visit adhocstudio.ca and blacklineapp.com.

RENEWING YOUR MORTGAGE THIS YEAR?

SHOULD YOU GO FIXED OR VARIABLE?

JESSE ABRAMS

If your mortgage renewal date is approaching, you’re likely facing an important decision: Should you choose a fixed- or variable-rate mortgage? This choice can have a significant impact on your finances over the next few years, so it’s important to understand how each

option works and what might be best for you.

Let’s the pros and cons of fixed and variable-rate mortgages, helping you make an informed choice that aligns with your financial goals.

WHAT IS A FIXEDRATE MORTGAGE?

A fixed-rate mortgage locks in your interest rate for the entire term of your mortgage. This means your monthly payments remain the same, providing predictability and stability

– no matter how interest rates move in the market.

PROS

OF A FIXED-RATE MORTGAGE:

• Stability: Your interest rate and monthly payments remain consistent throughout the term.

• Protection from rate increases: If interest rates rise, your rate stays the same, shielding you from higher payments.

• Predictable budgeting: Fixed payments make it easier to plan your finances.

CONS OF A FIXED-RATE MORTGAGE:

• Higher initial rates: Fixed rates are often slightly higher than variable rates at the start.

• Limited flexibility: Fixed-rate mortgages can come with higher penalties if you decide to break the mortgage early.

WHO SHOULD CONSIDER A FIXED-RATE MORTGAGE?

A fixed-rate mortgage is a great option for those who:

• Prefer the security of predictable payments.

• Are risk-averse or uncomfortable with potential rate fluctuations.

• Plan to stay in their home for the duration of the mortgage term.

WHAT IS A VARIABLERATE MORTGAGE?

A variable-rate mortgage has an interest rate that fluctuates based on the prime rate set by the Bank

of Canada. While variable rates can often be lower than fixed rates, they carry the risk of increasing payments if rates rise.

PROS OF A VARIABLERATE MORTGAGE:

• Lower initial rates: Variable rates are often lower than fixed rates at the outset. Although, in the current market, variable rates are still higher than most fixed rates.

• Potential cost savings: If rates remain low or decrease, you can save money over the term.

• Lower break penalties: Variablerate mortgages typically have lower penalties if you decide to break the mortgage early.

Cons of a variable-rate mortgage:

• Payment uncertainty: Monthly payments can increase if interest rates rise.

• Financial risk: Rising rates can lead to higher overall borrowing costs.

• Potential stress: Some homeowners find the unpredictability of variable rates stressful.

WHO SHOULD CONSIDER A VARIABLE-RATE MORTGAGE?

A variable-rate mortgage may be a good choice for those who:

• Are comfortable with risk and can handle potential rate increases.

• Want the flexibility of lower break penalties.

• Believe that interest rates will remain stable or decrease over their term.

MARKET CONDITIONS TO CONSIDER IN 2025

Choosing between a fixed or variable mortgage is often influenced by the current economic environment and where interest rates are headed. In 2025, we’re seeing factors like:

• Recent rate drops: If the Bank of Canada continues to drop rates, a variable rate could be a better option as you could be catching the market at a good time for variable.

• Economic uncertainty: In times of economic uncertainty, fixed rates can provide peace of mind, while variable rates can offer savings if rates stabilize or decrease.

• Inflation concerns: Persistent inflation may lead to a slow own in rate drops, or even rate hikes, making fixed rates more attractive.

WHY YOUR LENDER CHOICE MATTERS

When renewing your mortgage, it’s not just about the rate – it’s also about working with the right lender. Speaking to an unbiased mortgage brokerage such as ours at Homewise, provides:

• Access to multiple lenders: Including major banks, credit unions and monoline lenders.

• Unbiased advice: Focused on finding the best mortgage for your unique needs – not just pushing a specific product.

• Rate and feature comparisons: Highlighting options that offer the best combination of rates, features and flexibility. Overall ensuring you are not pigeonholed.

MAKING THE RIGHT DECISION FOR YOUR RENEWAL

Choosing between a fixed or variablerate mortgage isn’t one-size-fits-all. It’s about balancing:

• Risk tolerance: How comfortable are you with potential rate fluctuations?

• Financial stability: Can you afford higher payments if variable rates increase?

• Future plans: Do you anticipate moving, refinancing or paying off your mortgage early?

At the end of the day, nobody has a crystal ball. So, the best way to think is what is not only right for your financial situation today, but also into the future as well.

Jesse Abrams is Co-Founder at Homewise, a mortgage advisory and brokerage firm. thinkhomewise.com

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NAVIGATING UNCERTAINTY:

FINDING OPPORTUNITIES AMID TARIFFS, ELECTIONS, INFLATION AND INTEREST RATES

DEBBIE COSIC

The Greater Toronto Area (GTA) real estate market remains a pillar of economic growth, but factors such as tariffs, elections, inflation and interest rates create uncertainty. While these challenges may seem daunting, they also present opportunities for those who navigate them strategically.

INTEREST RATES: PREPARING FOR OPPORTUNITY IN PRE-CONSTRUCTION

With interest rates beginning to decline, pre-construction real estate offers a unique advantage. Buyers can lock in today’s prices while anticipating better lending conditions by the time they take possession. As rates drop, affordability improves, making future mortgage terms more favorable.

However, the current market is tough for those who purchased at peak prices and are now facing lower appraisals. If traditional financing falls short, alternative lenders or shortterm private financing can bridge the gap. Though costly, these options allow buyers to weather market fluctuations until rates stabilize. Maintaining ownership is critical –walking away locks in losses, while holding the property provides a chance to regain value and profit in the long run.

While rental demand is high, the market is competitive due to increased supply. Investors should offer incentives such as flexible lease terms or minor price adjustments to attract tenants. Any rental income reductions can also

be used as tax write-offs. Those who hold their properties through short-term volatility will benefit as demand stabilizes.

INFLATION: REAL ESTATE AS A HEDGE

Inflation erodes purchasing power, but real estate remains one of the best hedges against it. Property values and rental income tend to rise in inflationary environments, benefiting landlords. Fixed-rate mortgages offer additional security by keeping payments stable while asset values increase. Investors can also explore multi-unit conversions, short-term rentals or rent-to-own models to maximize cash flow.

TARIFFS AND SUPPLY CHAIN CHALLENGES: BOOSTING LOCAL DEVELOPMENT

Tariffs on imported construction materials have significantly increased building costs, sometimes by 20 per cent or more, delaying projects and limiting housing supply. However, this also incentivizes local production and innovation. Developers who pivot to modular homes, 3D printing or mass timber can gain a competitive edge while reducing reliance on global supply chains.

For homebuyers, higher construction costs mean fewer new homes, tightening inventory and driving up prices of existing properties. Those looking to secure a home before values rise further should act now. Pre-construction deals may provide better value than waiting for continued supply shortages. For example, The Grand by Chestnut Hill Developments offers a 1.99-per-cent vender take-back mortgage with no lender fees and no stress test, while Rosehaven

Homes’ Rebecca project in Hamilton features the GTA’s strongest rental guarantee program, providing two years of positive cash flow and free property management.

ELECTIONS: POLICY-DRIVEN OPPORTUNITIES

Elections introduce policy shifts, often bringing housing incentives, tax credits and zoning changes that benefit buyers and investors. For instance, Vaughan and Mississauga have reduced development charges, with many builders passing these savings to buyers. Election periods can also slow market activity, creating a temporary buyers’ market where investors can secure properties at better prices before confidence returns post-election.

CONCLUSION: A MARKET OF POSSIBILITIES

Despite economic fluctuations, the GTA real estate market continues to offer opportunities. Pre-construction pricing, future rate drops, inflation hedging, local development innovations and policy shifts all create potential for long-term success. Staying informed, adaptable and patient allows investors and buyers to turn uncertainty into an advantage.

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FIXING THE HOUSING CRISIS

ONE HOME AT A TIME

MIKE COLLINS-WILLIAMS

The housing market operates under the fundamental principles of supply and demand: When demand outpaces supply, prices rise; conversely, when supply exceeds demand, prices fall. This dynamic holds true regardless of the type of housing constructed or the nature of its ownership, whether private, non-profit or municipal.

Canada Mortgage and Housing Corp. (CMHC) has highlighted the pressing need to address housing affordability. To restore affordability to levels seen in 2004, CMHC estimates that Canada will require an additional 3.5 million housing units by 2030. A significant portion of this shortfall is concentrated in Ontario and British Columbia, two provinces that have experienced substantial declines in affordability over the past two decades.

In Ontario, the situation is particularly acute. The province faces a considerable housing supply gap, necessitating a coordinated effort to increase construction to meet demand and restore affordability. Each new housing unit constructed brings us closer to this goal, irrespective of its price point or type. When a household moves into a new home, they vacate their previous residence, which in turn becomes available for another family. This process, known as a “migration chain” or “filtering,” creates a ripple effect throughout the housing market.

Economist Evan Mast conducted a study analyzing this phenomenon.

By examining resident movement patterns into new buildings and tracing subsequent relocations, Mast found that for every 100 new housing units built, approximately 70 units become available in below-median income neighborhoods within five years. Of these, a significant portion becomes affordable for the lowestincome households.

While the positive effects of the moving chain are evident, they are not immediate. It typically takes approximately three years for the majority of these benefits to materialize. However, this approach presents a sustainable path to affordability, as long as municipalities do not hinder the process by restricting new construction.

Building new housing units, even those at higher price points, has wide-reaching benefits for society. Instead of imposing complex regulations on homebuilders or

investing solely in governmentfunded housing projects, municipalities should prioritize alternative solutions. Simplifying and accelerating the permitting process, reducing zoning complexities and eliminating unnecessary taxes on new construction can help lower housing costs.

By alleviating these bureaucratic obstacles, cities can create a pathway to the affordable housing of tomorrow. This is critical for younger generations, who are witnessing the dream of homeownership become increasingly unattainable.

Mike Collins-Williams, RPP, MCIP, is CEO

TACKLING PUNISHING

TAXES TO TURBOCHARGE ONTARIO HOUSING SUPPLY

The biggest barrier to building new homes increasingly is government taxes and fees. Taxes on housing in Ontario have skyrocketed over the last five years, to the point where one-third of all the costs a consumer pays for a new home goes into government coffers. One of the worst offenders are local governments which introduced significant increases in development charges in recent years. If we are going to get more homes built in Ontario, we must tackle high taxes. High taxes, fees and charges from all levels of government are driving up the cost of housing, making it increasingly difficult to build and purchase homes. Development charges, land transfer taxes and various fees can add tens of thousands of dollars to the price of a new home, discouraging both builders and buyers. When housing is burdened with excessive taxes, supply stagnates, affordability declines and Ontario’s housing crisis worsens. Reducing taxes, fees and charges is essential to unlocking new supply and accelerating the construction of homes. To improve housing starts and affordability for consumers, Ontario must undertake significant reforms to its housing tax structure.

In Toronto, for instance, development charges have surged by 102 percent in just the last two years. As a result, a new homebuyer in Toronto now faces more than $137,000 in development charges for

a single-family home and $113,000 for a townhome. The situation is even more severe in other parts of the GTA. In Peel, Durham, Halton and York Regions, municipalities impose development charges ranging from $103,000 to $139,000 on a starter (medium-density) home, further driving up the cost for new buyers.

The Land Transfer Tax (LTT) presents another significant tax burden for homebuyers. This provincial tax, combined with an additional municipal LTT in Toronto, amplifies the financial strain on consumers. For instance, buyers of an average-priced home in Toronto will pay over $36,000 in LTTs upfront as closing costs to both the province and the city. While Ontario offers a $4,000 rebate and Toronto provides a $4,475 rebate for first-time homebuyers – based on outdated 2008 home price benchmarks– these rebates cover an increasingly smaller portion of the total tax burden.

To get more homes built and address Ontario’s affordability crisis, bold action is required to reform how housing is taxed. First, Ontario should immediately reduce development charges. In their place, the provincial and federal governments should increase permanent transfers to municipalities, particularly for infrastructure projects related to housing, transit and climate resilience. This would reduce municipal reliance on property taxes and development charges, helping alleviate the financial burden on homeowners while ensuring communities can invest in critical infrastructure and services.

Second, Ontario should work with the City of Toronto and reform

the LTT, which disproportionately impacts first-time buyers. The current provincial and Toronto rebates are inadequate in today’s housing market, where the average home price in the GTA exceeds $1.1 million. Increasing the Toronto and provincial rebates to $8,000 each, indexing it to inflation or even eliminating the tax for first-time buyers, would provide meaningful relief to young families and individuals looking to enter the housing market.

Finally, Ontario should launch a comprehensive review of municipal revenue tools to reduce the tax burden on housing. Municipalities rely heavily on property taxes and development charges to fund infrastructure and essential services, leading to rising housing costs. A thorough review should explore alternative funding mechanisms and work to reduce municipal reliance on housing taxes, while ensuring municipalities have the resources needed to deliver quality public services.

TRREB has launched a campaign to fight for lower taxes on Ontario homes. You can join our campaign and add your name to the thousands of Ontarians fighting for fair housing taxes by visiting fairhometaxes.ca.

4 FACTORS TO HELP

YOU DETERMINE IF YOU’RE READY TO BUY

If you’re looking to buy a new home, your mind might be full of questions. What is happening? What should I do? How might the tariffs affect me? How is it all going to play out?

Today, such uncertainties continue to rock our world. You are reading this article because you have an interest in real estate. You may be deciding to purchase or sell a condominium, a freehold townhouse, semi or detached home. You may be wondering about investing or divesting at a time the market seems to be low, interest rates are falling and whether it all gets better or worse.

I am not here to tell you what to do. Rather I will simply discuss the market and real estate thinking.

My son, Jonathan Schwarz, a real estate broker with Johnston and Daniel, says the market varies from day to day, from area to area and from product to product. In the resale market, there are still situations of multiple offers and others where houses sit. What does this all mean?

It could be an opportunity to get your house in order.

1. Have a look at your financial position. If you have a partner, put all of your debts and assets together and create a balance sheet. Do a combined profit and loss statement without your current financing or rental to figure out how much disposable cash you have available

to either service debt and put down a deposit. Meet with your banker and find out how much mortgage you qualify for. This will save a lot of anguish later. This process will help you determine what your deposit is and how much mortgage you can get.

2. Based on the above findings, you will know what you can afford, and then decide what kind of lifestyle you desire. This can be influenced by what you can or cannot afford. As an example, the current market is soft on condominiums, and if that is what you want from a location or price perspective, start by driving or walking the area where you want to buy. In fact, no matter what you wish to purchase, it is critical that even before looking at homes, you spend time and get to know the area you want to live in. Is it walkable? How close are stores, schools and restaurants and other appealing amenities?

3. Find a lawyer. The first thing you need to do is identify your expectations as to what the lawyer will do and how much it costs for the satisfaction of that expectation. In other words, “What am I paying for?” Get a quote from the lawyer in writing. In a real estate transaction, the central act of the lawyer is the conveyancing. This means all of the steps necessary to transfer a property from one party to another, including all necessary searches and paperwork. This central work is what you pay for. You need to ascertain what other things it includes, or more importantly, what it does not include. And, importantly, find a lawyer who specializes in real estate

lawyer, not one who merely dabbles in real estate on the side.

4. Once you have an area and type of home selected, find a realtor to assist you. Don’t hire someone just because they are a relative. Firstly, interview a number of agents. Let them sell you first. If they can’t sell you, how can they sell your house to someone else? Ask for references and follow up with them. Call people who they claim they did a great job for and speak to them. Ask for a written proposal as to how they will proceed. You want a plan not a promise.

The real estate market moves in a cycle. If you are purchasing a home to live in, the right time to buy is when all the pieces above align and you’re fully prepared. If you’re getting married, having a baby or simply want the stop paying rent to others, these are all good reasons that can dictate your timing. If you’re fully ready with the points above, you may be ready to make an offer. You may think things will improve or get worse, and sometimes you’ll be right.

In the end, if you’re fully prepared with these points I’ve outlined, it will be the right time to buy, and the cycle will make you right in the end.

Jayson Schwarz LL.M. is a Toronto real estate lawyer and partner in the law firm Schwarz Law Partners LLP. Visit online at schwarzlaw.ca or email info@schwarzlaw.ca with your questions, concerns, critiques and quandaries.

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JAYSON SCHWARZ, LLM

PERSONALIZING YOUR PRE-CONSTRUCTION HOME: A GUIDE TO SELECTING INTERIOR FINISHES

by MARIAM ABOUTAAM

Purchasing a pre-construction home or condominium comes with many benefits; one of the most exciting being the opportunity to personalize your space from a clean slate. The process of selecting interior finishes is a pivotal step in your homebuying journey. While thrilling, it can also feel overwhelming. Having worked on numerous model homes and guided many homebuyers through their decor appointments, I’m excited to share insights and practical tips to

help make this experience smoother and more enjoyable.

PREPARING FOR YOUR DECOR APPOINTMENT

Every builder follows a slightly different process, but most offer a consultation to assist with selecting interior finishes. If you’re given the chance to preview the available samples before your appointment, I highly recommend you take advantage of it. Seeing your options

in advance will help you feel more confident when it’s time to make decisions about flooring, cabinetry, countertops and more.

TIP: START WITH COLOUR

When designing a model home, I always begin by establishing a colour palette – choosing base colours (often neutrals) and accent colours that add personality. To make this step easier for yourself, consider this key question: What is my style?

Do you lean toward modern, traditional, transitional, farmhouse or another aesthetic? If you’re unsure, gather inspiration from photos, magazines and online sources that reflect your tastes. Also, keep in mind any existing furniture you plan to bring to your new home. Creating a visual reference will help both you and your decor consultant make choices that align with your vision.

WHERE TO BEGIN?

1. Understand your layout and lifestyle

Studying your floorplan can guide your decisions. Ask yourself:

• Where are the natural transitions between spaces and how can you optimize your space?

• What areas will experience the most foot traffic?

• Is there ample storage for your needs?

• Do you have pets?

• What will be visible from the front entrance?

• Do you cook and entertain frequently?

• Do you require a work from home space?

• Are there any specific ceiling details you would like to explore, specialized lighting or plumbing requirements? Your answers will shape how you allocate your budget and which materials best suit your lifestyle.

2. Prioritize the kitchen

In my experience, the kitchen is the heart of the home, no matter the size. In today’s open-concept designs, the kitchen seamlessly connects with main living areas, making it a focal point. This is why I recommend starting your selection process here.

A well-designed kitchen isn’t just about aesthetics; it’s also about functionality. Consider:

• Will you be supervising homework while preparing meals?

• Will most meals be eaten in the kitchen?

• Do you need display space for special collections?

• Do you require extra storage for small appliances?

• Will you be entertaining in your kitchen?

Discussing these details with your decor consultant will help ensure your kitchen is both beautiful and practical – one that truly supports how you live.

BALANCING TRENDS WITH TIMELESSNESS

As you make your selections, focus on features that enhance both the beauty and functionality of your home while also adding long-term value.

TIP: TRENDS COME AND GO – STAY TRUE TO YOUR STYLE

While you may be tempted to follow the latest trends, remember that your home should reflect you. Choose timeless finishes for big-ticket items such as cabinetry, flooring and countertops. If a current trend inspires you, incorporate it through accent colours and accessories, which are easier and more affordable to update in the future.

By approaching your decor selections with confidence and a clear vision, you’ll create a home that feels uniquely yours, a place where you love to live.

COMING UP NEXT…

In my next column, I’ll take a deeper dive into kitchen design, covering everything from flooring, cabinetry and countertops to the finishing touches such as hardware that bring the space to life.

FIND YOUR NEXT HOME

BRAMPTON

1. Bristol place 199 Main St, North, Brampton

2. Duo condos Malta ave & Steeles Ave

CALEDON

3. Mayfield Collection 2256 Mayfield Road. Mayfieldcollection.ca

ETOBICOKE

4. Curio Condos 801 The Queensway marlinspring.com

5. Humberwood Heights 50 Humberwood Blvd. tributecommunities.com

6. Arcadia District Bloor & Kipling arcadiadistrict.com

7. Kül Condos 875 The Queensway kulcondos.com

MARKHAM/ UNIONVILLE

8. Panda Markham 8200 Warden Ave. lifetimedevelopments.com

9. Gallery Towers at Downtown Markahm 162 Enterprise Blvd. downtownmarkham.ca

10. Highmount 4077 Hwy. 7 highmountbykingdom.com

MISSISSAUGA

11. Birch at Lakeview Village Lakeshore & Dixie Rd. branthaven.com

12. Artform Condos 86 Dundas St. E. emblemdevcorp.com

13. Exhale Condominiums Lakeshore Rd. East & Dixie Rd. exhalelakeshore.ca

14. Residences at Harbourwalk 1260 Lakeshore Rd. East tridel.com

NORTH YORK

15. Central Park Sheppard Ave. East & Leslie St. amexon.com

16. Yonge City Square 4050 Yonge St. yongecitysquare.com

PICKERING

17. Vupoint Kingston Rd. & Liverpool Rd. tributecommunities.com

OSHAWA

18. U.C. Tower 2425 Simcoe St N,Oshawa tributecommunities.com

TORONTO

19. Lawrence Hill Urban Towns Don Mills & Lawrence lawrencehillurbantowns. com

20. 489 Wellington St. W. 489 Wellington St. W. lifetimedevelopments.com

21. 500 Dupont St. 500 Dupont St. lifetimedevelopments.com

22. Artistry Condos 292 Dundas St. W. tributeartistrycondos.ca

23. Panda Condos Yonge & Dundas. lifetimedevelopments.com

24. 36 Eglinton Ave. W. 36 Eglinton Ave. W. lifetimedevelopments.com

25. Linx Condominiums Danforth & Main tributecommunicties.com

26. Y&S Condos 2161 Yonge St. tributecommunities.com

27. 50 at Wellesley Station

50 Wellesley St. East pureplaza.com

28. No. 1 Yorkville 1 Yorkville Ave. pureplaza.com

29. Theatre District Residences Adelaide & Widmer pureplaza.com

30. Bijou on Bloor 2450 Bloor St. West pureplaza.com

31. The Briar on Avenue 368 Briar Hill Ave. pureplaza.com

32. One Seventy Spadina & Queen St. West pureplaza.com

33. King West & Charlotte King St. West & Charlotte pureplaza.com

34. Forest Hill Private Residences

2 Forest Hill Rd. foresthillresidences.com

35. Oscar Residences 500 Dupont St. W. at Bathurst oscarresidences.com

36. Kingside Residences Kingston Rd. & Danforth altreedevelopments.com

37. Allure Condominiums 250 King St. East emblemdevcorp.com

38. XO Condos King & Dufferin lifetimedevelopments.com

39. 225 Jarvis Street Condos Dundas St. East & Jarvis amexon.com

40. 101 Spadina Spadina & Adelaide 101spadina.com

41. The Residences of Central Park Sheppard Ave. East & Leslie centralparktoronto.com

42. The Dawes at Main Street Danforth & Main St. thedawes.com

43. Birchaus Birchcliffe Village on Kingston Road birchausresidences.com

44. Knotting Hill 4000 Eglington Ave. W knottinghillcondominiums. com

45. Park Avenue Place 1 & 2

Jane St. & Rutherford Rd. solmar.ca

VAUGHAN

FIND YOUR NEXT HOME

The latest properties in the Southwestern Ontario Area to keep your

BURLINGTON

1. Affinity Condos Plains Rd. E. & Filmandale Rd. rosehavenhomes.com

2. Millcroft Towns Appleby Line & Taywood Dr. branthavenmillcroft.com

3. North Shore North Shore Blvd. & Plains Rd. nationalhomes.com

FORT ERIE

4. Discoverie Condos Signature Communities discoveriecondos.ca

HAMILTON

5. 1 Jarvis 1 Jarvis 1jarvis.com

6. The Design District 41 Wilson Street emblemdevcorp.com

7. Corktown 225 John Street South corktown.condos

NIAGARA

REGION

8. Lusso Urban Towns Martindale Rd. & Grapeview Dr. lucchettahomes.com

OAKVILLE

9. The Greenwich Condos at Oakvillage Trafalgar Rd. & Dundas branthaven.com

10. Synergy McCraney St. E. & Sixth Line branthaven.com

11. Upper West Side at Oakvillage 351 Dundas St. E. upperwestsidecondos2.ca

12. Greenwich Condos at Oakvilage Trafalgar Rd. & Dundas St. branthaven.com

13. Villages of Oakpark Dundas & Trafalgar ballantryhomes.com

STONEY CREEK

14. Casa Di Torre 980 Queenston Rd. branthaven.com

15. On The Ridge Lormont Blvd. & Chaumont Drive liveontheridge.ca

FIND YOUR NEXT HOME

NOW IS THE TIME TO START PLANNING

YOUR SPRING RENOVATION

We may still be in the throes of winter, but spring and renovation season are just around the corner. Many wait until the last minute to start planning a renovation, and as a result, run into unnecessary delays and added costs. Here is why you should not wait and why the wintery weeks ahead are actually the best time to start planning your project.

First, you need to understand your wish list – and what parts of it are actually realistic in terms of your budget and timelines. This might seem like a daunting task, but there are tools that can assist you with this. There is a number of apps that are designed to help create checklists, develop images and basic floorplans to aid in organizing your thoughts and conveying your wishes to your contractor. Plus, with recent interest rate cuts, now is the perfect time to assess your likely budget to enable discussions with your contractor.

Hiring the right professional renovator, a process that includes arranging and getting quotes back, checking references and finding someone who understands your needs can easily take months. Put written contracts in place as soon as possible as good contractors are always busy – you do not want to end up with the last choice. Seek out a renovator that is a member of the Canadian Home Builders’ Association’s RenoMark program, which BILD administers in the Greater Toronto Area. RenoMark renovators

are professionals who adhere to a strict code of conduct, offer written contracts, carry at least $2 million in liability insurance and provide a twoyear warranty on their work.

Plus, working with a RenoMark renovator assures that you are working with someone who understands the ins and outs of the permit and approvals process, someone who can assess your project to determine what – if any – building permit is necessary and can handle the application process. They also know when additional professionals, such as architects or structural engineers, are required. Invite RenoMark contractors to your home to review its existing conditions and to discuss your goals.

Second, plan for pivots to make sure the job is done right the first time. Oftentimes, once a project has begun and walls have been opened up, unforeseen and unplanned issues arise. Working with a good contractor can minimize the risks, but when renovating an older home, challenges occur. These can include things such as asbestos or lead paint, which require abatements, outdated wiring, such as knob and tube, old lead or clay water pipes that will need to be replaced or structural challenges requiring remediation (work done by/DIYers that compromised joists

or cracks in the foundation allowing in moisture or vermin). It is prudent to set aside a contingency fund to ensure your project does not get stopped or delayed mid-stream due to a financial shortfall – talk to your contractor about what is a reasonable amount.

Third, invest in the critical features of your home. Most people only do a big renovation once or twice in their lives – so it’s essential to not skimp on structure, building code or internal systems (such as plumbing and electrical) as these elements, while less visible, are critical to the viability of your renovation in the long term.

Renovating your home is a great way to enhance its livability. Do so with confidence by working with a RenoMark renovator. Visit renomark.ca for more information and to find a RenoMark renovator in your area.

Dave Wilkes is President and CEO of the Building Industry and Land Development Association (BILD), the voice of the homebuilding, land development and professional renovation industry in the GTA. For the latest industry news and new home data, follow BILD on Twitter, @bildgta or visit bildgta.ca.

DAVE WILKES