GTA Homes Magazine - February 22, 2025

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Lucchetta Homes

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 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

STAT CHAT | BEN MYERS

Ben Myers is President of Bullpen Consulting. Ben provides pricing recommendation, product mix, and valuation studies on new residential housing developments for builders, lenders and property owners. bullpenconsulting.ca

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

SENIOR VICE-PRESIDENT, SALES, NEXTHOME Hope McLarnon

416.708.7987 hope.mclarnon@nexthome.ca

DIRECTOR OF SALES, ONTARIO, NEXTHOME Natalie Chin 416.881.4288 natalie.chin@nexthome.ca

SENIOR MEDIA CONSULTANTS Amanda Bell 416.830.2911 amanda.bell@nexthome.ca

EDITORIAL DIRECTOR Amanda Pereira

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

VICE-PRESIDENT, MARKETING – GTA Leanne Speers

MANAGER CUSTOMER SALES/SERVICE Marilyn Watling

SALES & MARKETING CO-ORDINATOR Gary Chilvers

BUSINESS DEVELOPMENT MANAGER Josh Rosset

DISTRIBUTION distributionteam@nexthome.ca

ACCOUNTING INQUIRIES accountingteam@nexthome.ca

DIRECTOR OF PRINT MEDIA

Lauren Reid–Sachs

VICE-PRESIDENT, PRODUCTION – GTA Lisa Kelly

PRODUCTION MANAGER – GTA Yvonne Poon

GRAPHIC DESIGNER & PRE-PRESS COORDINATOR Hannah Yarkony

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WHERE ARE YOU GOING TO BUY?

WAYNE KARL EDITOR-IN-CHIEF HOMES Magazine

EMAIL: wayne.karl@nexthome.ca

TWITTER: @WayneKarl

Location, location, location. When you’re in the market for a new home or condo, this golden rule of real estate is among your key determining factors. Sure, what to buy, based on your budget, finances and needs. But where to buy, based on proximity to work, family, transportation and transit infrastructure, desired amenities and other considerations. And, of course, affordability here, too.

Increasingly, though, that last point is being influenced by development charges and other fees – known as growth charges – which provide important funding for municipalities, for new roads, transit and libraries and other community needs. Other than property taxes or user fees, they are the main source of funding municipalities use to pay for growth-related infrastructure.

“The DC system in Ontario performs a vital function, both legally and in provision of housing supportive infrastructure,” says Dave Wilkes, president and CEO of the Building Industry and Land Development Association (BILD).

Somewhere along the way over the last few decades, though, DCs have gotten wildly out of control.

“Given the relative scale of DCs in dollar terms, the current housing crisis, the need to reduce complexity and the opportunity to learn from best practices from other jurisdictions, an update of the DC Act is significantly overdue and must be completed with a sense of urgency.”

For example, as Wilkes writes in his column on page 50, one GTA municipality has “famously increased its DCs by more than 6,000 per cent over the last 30 years.” (Step forward, City of Toronto).

Imagine paying $65 for a cup coffee, or $1.2 million for a car. That’s what such increases would mean if we applied the same rate to other purchases. “In other words, the stakes and the cost implications are much more profound today, and the need for cost controls have never been higher.”

Municipalities, therefore, have to pay attention. They must act.

Thankfully, some of them are.

In November 2024, the City of Vaughan adopted a plan to bring these costs down, and Mississauga more recently did the same (see page 14).

As our story on page 20 examines, development charges are a complicated subject, and likely not one you as a prospective homebuyer have thought much about. Until now, because they’re impossible to avoid as an influence on the cost of your home.

So, what can you do, as a prospective new-home buyer?

Well, first, pay closer attention to the subject as you go about your new home search. Second, it’s well within your right to contact your city councillor and question them on the issue. Tell them you want the city to keep municipal costs lower than comparable municipalities. And if they can’t…

Third, you may take your homebuying decision elsewhere.

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.

MORE RATE CUTS WELCOMED NEWS, ESPECIALLY FOR FIRST-TIME BUYERS

The Bank of Canada again reduced its influential policy rate in its latest announcement on Jan. 29, this time by 25 basis points, for the sixth consecutive reduction. The rate now sits at 3.00 per cent, down from 5.00 per cent in April 2024.

This move sets the stage – or at least the hope – for possible further reductions in the coming months to spur the market.

“A rate cut is always welcome news, while a greater reduction would have been even better,” says Debbie Cosic, founder and CEO of In2ition Realty. “The Bank of Canada’s decision is a move that sets a positive tone for the year ahead and signals a potential shift in market conditions.”

“The Bank of Canada (decision) will further increase borrowing capacity for homebuyers and benefit mortgage holders whose loans are coming up for renewal,” adds Phil Soper, president and CEO of Royal LePage. “This latest decrease arrives just before the spring housing market – when demand typically picks up –which should spur buying and selling activity in the weeks ahead.”

“Over the past year, declining interest rates have given Canadians a renewed confidence to enter the housing market,” says Samantha Villiard, vice-president, ReMax Canada. “Despite the ongoing affordability crisis rooted in a lack of housing supply – many Canadians still see the long-term value in homeownership, and so the anticipated decline could prompt greater market activity for

March 12

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the remainder of Q1 and heading into Q2.”

At press time, potential U.S. tariffs were put on hold, leaving Canadians a little weary about the upcoming months.

“The looming promise of hefty tariffs by the United States government is a source of uncertainty for the central bank and consumers alike,” says Soper.

“We believe the Bank of Canada’s focus will be a decided shift from an inflation battle to avoiding an economic downturn. A recession resulting from a tariff tit-for-tat could prompt additional cuts in the shortterm to stimulate the economy. Though Canada’s housing market would be insulated for the most

part from trade turmoil, economic challenges could eventually cause activity to slow.”

“Of course, we’ll be keeping an eye on economic factors like the potential tariff situation and how it unfolds,” adds Cosic. “But regardless of what’s to come, let’s take this momentum and run with it. Rates are lower, incentives are still strong, and there are some incredible deals to be had.

“If you’ve been waiting for the right time to get into the market – whether you’re a first-time buyer, a moveup buyer or an investor – this is the moment to act. The landscape is shifting, and those who take advantage early will be in the best position moving forward.”

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.

The motion details important financial changes to boost the supply of housing – including new rental housing – for Mississauga families. Among other items, the motion will:

• Temporarily lower municipal residential development charges (DCs) by 50 per cent in the City of Mississauga for all residential construction prior to Nov. 13, 2026. On a new single-family home this equates to a reduction of $28,108 and represents the single-largest reduction of development charges by any municipality in Ontario.

• Temporarily defer the payment of development charges until first occupancy resulting in saving on financing costs.

• Temporarily eliminating development charges on threebedroom purpose-built rental residential apartment projects, thereby incenting this type of crucial development.

Development charges and other fees – also known as growth charges – provide important funding for municipalities to pay for infrastructure for new homes such new roads, transit and libraries. Other than property taxes or user fees, they are the main source of funding Mississauga currently uses to pay for growth-related infrastructure.

The motion requests that the Region of Peel consider matching the DC incentives adopted by the City. In addition, to spur the creation of Mississauga rental housing, the motion calls on the Region to implement a new multi-residential tax subclass. This new tax subclass

would reduce property taxes by up to 35 per cent for new purpose-built rental housing.

• The price of an average home in Mississauga is approximately $1.4 million for a detached home or $600,000 for a condo.

• While development charges in Mississauga make up about 10 per cent of the cost of a new condo – fees, taxes and charges from all levels of government total about 25 per cent of the cost of a new GTA home.

• The City’s current development charge rate for a residential condo is $38,316 per unit. With a 50-percent reduction, the charge would be $19,158 per unit.

• Development charges from the Region of Peel, GO Transit and school boards total an additional $59,884 for an apartment (condo) unit.

By cutting these charges, the City says it is aiming to address the housing crisis head-on by getting homebuilding back on track in Mississauga.

As a longer-term solution, the City is calling on the provincial and federal governments to adequately fund growth-related infrastructure for municipalities and provide much needed funding for affordable housing.

“Council took a bold step to help build more homes and make them more affordable for Mississauga residents,” says Parrish. “In a crisis of this magnitude, we must act now. Reducing development charges –and eliminating them for family units in rental developments – will help get shovels in the ground immediately.

“However, to tackle this housing crisis, collective action is crucial. I’m calling other levels of government to come to the table. More development will make our City stronger. We need to ensure more access to housing for every income level – this is critical to a healthy economy, safe communities and a dynamic Mississauga for our residents.”

The Building Industry and Land Development Assocation (BILD) applauds the move.

“The City of Mississauga is walking the walk when it comes to new housing,” says President and CEO Dave Wilkes. “BILD and its members echo (Mississauga’s) call to the Region of Peel to consider matching the actions of the City. We would also like to acknowledge and thank the federal government for its direct financial support of Mississauga’s efforts. We encourage all regions, cities and towns in the GTA to follow the vision and lead of Mississauga.”

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 firsttime 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.

STORY

LUCCHETTA HOMES

CRAFTING DREAM HOMES AND COMMUNITIES IN NIAGARA

The Niagara Region is one of the fastest growing areas of Ontario, and it’s no surprise why. Outside of the hustle and bustle of the GTA, yet still offering a wealth of amenities and modern conveniences, Niagara combines easy access to Toronto and Buffalo, all the while surrounded by nature.

For new-home buyers seeking a better lifestyle in Niagara, many look to well-established homegrown builders with longstanding track records developing communities here. With their strong local reputations, these builders – often with deep family-based business roots – have excellent insight into hidden gem locations, the most

dependable regional trades and what homebuyers in Niagara are looking for.

Lucchetta Homes stands out as one of the most respected local homebuilders in this category.

Since its humble beginnings in 1960, Lucchetta Homes has remained dedicated to the craft of building beautiful homes that families cherish. Rooted in the Niagara Region, the family-run business has consistently held fast to its core principles, which revolve around delivering outstanding customer experiences and constructing innovative, quality homes in prime locations.

WATERCREST AT HUNTERS POINTE

Well before the post-pandemic housing boom, Lucchetta Homes had been actively building at Hunter’s Pointe, a truly unique community at the confluence of the Welland Canal and the Welland River (which actually flows under the canal through an ingenious aqueduct).

The Welland Recreational Waterway, popular with rowers, kayakers and paddleboarders, runs alongside the river, separated by Merritt Island and some of the city’s best trails.

Lucchetta’s newest – and final –phase, WaterCrest at Hunters Pointe, incorporates some of the most stunning views in the community.

Nestled along a picturesque and serene promontory, WaterCrest is destined to become a magnet for new homebuyers seeking an exclusive place to call home.

“We’re extremely excited to launch WaterCrest,” says Rob Lucchetta, the second-generation principal of Lucchetta Homes. “There’s simply no location like this. And we certainly aim to craft outstanding homes that complement their exceptional surroundings.”

THE IDEAL ACTIVE ADULT LIFESTYLE

Designed with active adults in mind, the homes at WaterCrest feature singlefamily homes on large 40-ft. deep lots, along with townhome offerings. Waterfront lots will be available, from where homeowners can watch as Great Lake ships glide quietly along the waters of the canal.

Excellent trails are close by, including the lake-to-lake Welland Canal Parkway Trail, one of Hunters Pointe’s many charms for homeowners seeking to engage in an active lifestyle.

The community is also rich with on-site activities and amenities, ideal for independent retired adults who value a vibrant social and physically active lifestyle. An

impressive 14,000-sq.-ft. amenityfilled community centre offers a fully equipped gym with personal trainer, registered massage therapist, fitness classes, a library and more.

THE LUCCHETTA DIFFERENCE

The WaterCrest location is unique, and Lucchetta Homes brings its design proficiency to the table to enhance the overall Hunters Pointe experience.

Design is at the heart of the Lucchetta Difference. “We don’t design for us. We design for you,” says Ed Lucchetta, Rob’s brother and company co-principal. “We’ve been a customer-centric business

for over 60 years, and take great pride in this, our father Ugo’s most important legacy.”

This customer focus is evident in Lucchetta’s model homes and floorplans, which feature the latest trends in home design. Each square foot in the company’s homes serves a purpose, and every design element enhances functionality and livability.

Lucchetta Design Centre specialists play a crucial role in helping homeowners choose finishes and options that align with their dreams and budgets. They ensure that you know what to expect throughout the process, from next steps to the overall timeline.

QUALITY HOMES WITH ELEVATED BUILDING STANDARDS

Lucchetta Homes has always aspired to build homes company principals would live in themselves. This dedication to quality led the Lucchettas to commit to higher building standards to provide homeowners with confidence and lasting value.

From foundation to rooftop, every element of a Lucchetta home is designed to be solid, sound and energy-efficient. Long-time partnerships with the best trades in the region ensure that quality workmanship and attention to fine detail are instilled throughout the construction process. A Lucchetta home exceeds building code in too many ways to list.

As a result, the company has high regard in the homebuilder industry, winning two recent provincial honours through the OHBA Awards of Distinction, and three at the 2023 Niagara Home Builders’ Association Awards of Excellence.

ENERGY EFFICIENCY AND INNOVATION

An EnerQuality Energy Star certified builder, Lucchetta Homes takes Green building seriously. Not only has the company received several energy-efficiency building awards, it was actually recognized by a CHBA pilot program for building the first net-zero-ready home in the country.

For those looking for the home of tomorrow today, Lucchetta is one of only two qualified builders in Niagara to offer net-zero construction.

State-of-the-art building materials and components, along with the latest construction techniques, underscore Lucchetta’s commitment to innovation.

A LEGACY OF EXCELLENCE

Whether it’s WaterCrest at Hunters Pointe or any of its other communities, Lucchetta Homes continues to set the standard for quality, innovation and customer satisfaction.

LUSSO URBAN TOWNS

Among its other current communities is Lusso Urban Towns in West St. Catharines, a hip, new community featuring two-storey urban towns designed with high-end, modern features

and finishes, open concept layouts, and ample living space. With only a few towns left, this community is selling fast.

Coming soon is Saffron Estates, a limited collection of elegant bungalow homes in Fonthill, one of Niagara’s most prestigious towns. Saffron Estates delivers a small-town feeling where parks, trails, greenspaces and walkable neighbourhoods are all within proximity, along with countless amenities including dining, shopping, golf, schools and more.

Lucchetta Homes creates more than just houses; it builds homes filled with memories, dreams, and the promise of a brighter future

To learn more, visit lucchettahomes.com.

NEW COMMUNITY

Prudhomme’s

is

There was a time when Prudhomme’s Landing was Canada’s ultimate vacation destination in the Niagara Region. But a lot can change over the years. And after a century of history, something entirely new is sprouting from the fertile soil where water meets wine country in the town of Lincoln.

OUTLOOK 2025

Why this could be the year of the turnaround

There are some good reasons homebuyers can feel positive about 2025, and for the market in general to embrace it as the year of the turnaround. Several factors are swinging back in the market’s favour.

HOUSING MARKET

Housing market became more affordable in 2024 with lower rates and prices

The GTA housing market experienced a transitionary year in 2024, with annual sales up slightly compared to 2023, and new listings up significantly year-over-year. Buyers benefited from substantial negotiating power on price, especially in the condominium market.

Visit nexthome.ca

PERSONAL FINANCE

Understanding the impact of new mortgage rules in Canada

Starting January, new government policies extended the amortization period for insured mortgages from 25 years to 30 years. Additionally, the cap on insured mortgages increased from $1 million to $1.5 million. These changes aim to make homeownership more accessible, particularly for new builds and firsttime buyers.

Q&A

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

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.

Landing by Silvergate Homes

perfecting lakefront living today

MODERNIZATION OF DEVELOPMENT CHARGES ACT

NECESSARY TO TACKLE SKY-HIGH FEES

A new study, The State of Development Charges in Ontario, developed by Keleher Planning + Economic Consulting (KPEC) for the Building Industry and Land Development Association (BILD) and the Ontario Home Builders’

Association (OHBA) recommends that the province modernize the development charge (DC) system to help reduce housing costs and make the system more efficient. The study recognizes the important role DCs play in supporting housing in the

province and emphasizes areas where the legislation can be improved, rather than eliminated.

“Ontario’s DC system has been with us for over 35 years,” says David Wilkes, president and CEO of BILD. “The system has resulted in massive

cost escalation of municipal fees on new homes, especially in the last 10 years, is creating a cost to build challenge and undermining housing affordability. An extra $100,000 to $150,000 per single-family home added by DCs across the GTA is simply not sustainable. When combined with the complexity of the system and the changing needs of Ontarians there is an urgent need to modernize the DC legislation.”

“

” The system has resulted in massive cost escalation of municipal fees on new homes, especially in the last 10 years...

DCs are intended to offset the cost of providing infrastructure and municipal services to support new housing growth. They are calculated and imposed in a formalized manner prescribed by the Development Charges Act. Municipalities charge DCs to residential builders and developers on a per unit basis, and these costs are rolled into the final price of the home paid by the new home purchaser. DCs perform a vital function, because new housing is dependent on infrastructure. The DC Act and subsequent processes provide an important legal framework to manage and allocate responsibility for funding growth-related capital infrastructure in Ontario.

Key findings of The State of Development Charges in Ontario study include:

• Extensive changes are required to the DC model to significantly reorient the incidence of capital costs, and lower DCs without eliminating the rigorous and transparent system of the current DC model.

• These include moving water and sewer DCs to a utility-funded

model, adjusting how land values are incorporated into DC rate setting calculations, and only allowing actual incurred land costs to be funded by DCs rather than funding long-term projections of future land acquisition costs, which are prone to significant overestimation.

• Updating the DC Act to enhance clarity and both mitigate and simplify legal conflicts, including:

• Mandate preparation of local service policies and standardize certain specific elements to ensure they are clear and easily interpretable.

• Reduce subjectivity and variability in the estimation of “Benefit to Existing” allocations by promoting standardized calculations and formulating guidelines for how it is to be estimated.

• Standardize inputs to historic level of service calculations; values used to set DC rate caps should be consistent with parallel financial documents regularly prepared by municipalities (such as financial information returns, asset management plans).

• Increase provincial oversight through various changes.

“

” ...an update of the DC Act is significantly overdue and must be completed with a sense of urgency.

“Despite the beneficial features of Ontario’s Development Charge system, there are elements that desperately need to be updated and best practices from other jurisdictions that could be incorporated to simplify the system, right-size costs on new homes and modernize the legislative framework,” says Scott Andison CEO of OHBA. “The system as is drives up

the cost of housing due to the current DC calculation methodology.”

Since the 1997 version of the Development Charges Act (the framework legislation), there have been countless legislative and regulatory changes made. These changes have made both the calculation and application of DC rates more complex and difficult for all stakeholders involved. A clearer, simpler system is needed to reduce confusion, varied interpretations, conflicts and legal disputes.

Additionally, jurisdictions across Canada and North America all have different ways to fund growth and housing related infrastructure. Given that the GTA and Ontario have some of the highest levels of municipal costs on new homes on the continent, updating the legislation would allow the province the opportunity to seek out and implement better practices from other jurisdictions. In particular, the opportunity to examine different and more efficient mechanisms that could be incorporated into the existing system to right-size DCs, lower costs and ultimately help address affordability.

“The DC system in Ontario performs a vital function, both legally and in provision of housing supportive infrastructure,” says Wilkes. “Given the relative scale of DCs in dollar terms, the current housing crisis, the need to reduce complexity and the opportunity to learn from best practices from other jurisdictions, an update of the DC Act is significantly overdue and must be completed with a sense of urgency.”

BILD CEO Dave Wilkes

AND OPPORTUNITIES

FOR NEW-HOME BUYERS THE REALITIES

BEN MYERS

This is poised to be a pivotal year in Toronto’s new condominium market, presenting a complex mix of challenges and opportunities for prospective buyers. After a period of sustained growth, the market is now navigating declining prices, a shift in investor behaviours, and the rise of purpose-built rentals. For first-time buyers, these dynamics could create a unique window to purchase a quality property at a discounted price.

Since 2008, Toronto’s condo market has become increasingly dominated by investors. The share of investorowned units has more than doubled, from 19 per cent in 2008 to 41 per cent by late 2024. In 2024 alone, Bullpen Consulting used CMHC data to estimate that nearly 70 per cent of new condo completions were added to the rental market. This trend benefits tenants with access to newer, amenity-rich rental units, however, many uniformed commentators continue to claim the trend hurts affordability. In the absence of preconstruction investors, as is the case today, developers are not securing enough sales upfront to qualify for construction financing, leading to fewer buildings getting built and a lack of supply in the market in the future, which hurts affordability.

Higher interest rates, increased competition, a weak economy and general market uncertainty, has reduced both investor and end-user demand, and Toronto’s condo market has experienced a sharp slowdown in sales activity, reaching historically low levels in 2024. Annual sales volumes fell to levels not experienced since

the mid-1990s. Prices, too, have been on the decline. By Q4 2024, the average asking price for unsold new condos dropped to $1,524 per-sq.-ft. (psf) in Toronto per data from Bullpen, a 10-per-cent decrease from the 2022 peak of $1,690 psf. Looking ahead, further declines of 7.3 per cent in Toronto and 6.1 per cent in suburban markets are forecast for 2025.

While these conditions reflect challenges for developers and investors, they may provide a rare opportunity for first-time buyers to enter the market at more affordable prices. Buyers who act strategically in 2025 could benefit from softer pricing and increased inventory, particularly in high-density areas where developers are motivated to offload completed units.

Another near-record number of condo completions is expected in the GTA in 2025, further boosting supply in an already slowing market. This surge in inventory may place additional downward pressure on both rents and sale prices, creating potential deals for buyers willing to act decisively. However, the longer-term outlook suggests that this abundance of supply may be short-lived.

The low volume of land sales and project launches in 2023 and 2024 is likely to create a supply crunch starting in 2026. As fewer new projects started construction over the last couple of years, the availability of condos for purchase could shrink significantly in 18 to 24 months, leading to upward pressure on prices. For buyers considering entering the market in 2025, this looming supply constraint underscores the importance of timing. It has been said repeatedly that time in the market is more important than timing the

market, but acting during the current period of abundant inventory may offer opportunities that become increasingly scarce in the years ahead.

The current market environment has placed significant pressure on condo developers and investors. Declining prices and high financing costs have made it increasingly difficult to achieve profitability for both groups.

Despite these headwinds, there is cautious optimism for the future. As interest rates begin to decline, confidence in the market is expected to return. Developers are likely to resume project launches, albeit at a much more measured pace, while investors may re-enter the market with renewed enthusiasm in select locations at the right price. For enduser buyers, this transitional period offers a critical opportunity to secure a foothold in the market before conditions tighten once again.

For those ready to take the plunge, 2025 represents a chance to secure a home and build equity in one of Canada’s most dynamic real estate markets. By staying informed and acting decisively, buyers can turn the challenges of today into the opportunities of tomorrow. Surround yourself with a good team, do a lot of research and make an informed decision. Good luck.

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.

DOUG TARRY HOMES

Since 1954, Doug Tarry Homes has been at the forefront of homebuilding in St. Thomas, blending quality craftsmanship with forward-thinking design. Founded by Doug Tarry Sr., the company has grown from humble beginnings into a respected leader in the industry. Rooted in a family tradition of care and community, Doug Sr.’s philosophy of leaving every campsite better than he found it continues to inspire the company’s mission today.

At Doug Tarry Homes, the company believes that every home should reflect the unique lifestyle and aspirations of its owner. That’s why it offers a wide selection of thoughtfully

designed floorplans. From charming single-family homes to versatile semidetached houses and contemporary townhomes, the company has something for everyone, ranging from young professionals to growing families and retirees. Each home is part of a vibrant, award-winning community designed to foster connection and convenience. Its dedication to building homes goes beyond aesthetics and functionality. The company is deeply committed to sustainability, crafting residences that are as environmentally responsible as they are beautiful. All Doug Tarry homes are Energy Star certified and Net Zero Ready,

YEARS

ensuring they are energy-efficient, cost-effective and healthier living spaces. This eco-conscious approach not only reduces environmental impact, but also enhances the comfort and well-being of every homeowner.

At the heart of Doug Tarry Homes is what the company calls the “Doug Tarry Difference.” This philosophy reflects our unwavering commitment to quality, innovation and sustainability. It’s not just about building homes; it’s about creating spaces that inspire, nurture and stand the test of time. Homes are designed with close attention to detail, using advanced building techniques and

THE OAKMONT MODEL HOME

157 Renaissance Dr., St. Thomas

Contact Jackie DaSilva at 519.207.6222, jdasilva@ dougtarryhomes.com.

THE DUNMOOR MODEL HOME

2 Sugar Bush Path, St. Thomas

Contact Drew Caspi at 519.207.3066, dcaspi@ dougtarryhomes.com

THE NORTHGATE MODEL HOME

1 Firefly Lane, St. Thomas

Contact Cathy Fox at 519.266.4561, cfox@ dougtarryhomes.com, or Andy O’Reilly at 519.266.4561, aoreilly@dougtarryhomes.com

superior materials to ensure lasting value and performance.

The Doug Tarry Difference is evident in every step of the homebuilding process. From the initial design phase to the final finishing touches, the company prioritizes energy efficiency, durability and comfort. Its homes incorporate cutting-edge technology and eco-friendly features, ensuring that homeowners benefit from reduced energy costs and a healthier indoor environment. More than just four walls, each Doug Tarry home is built to enhance everyday living – offering thoughtfully planned spaces, modern conveniences and a deep connection to the surrounding community. It’s a promise that every home it creates is one company principals would be proud to live in themselves.

A leadership in Net Zero Ready homes helps set Doug Tarry Homes apart in the industry. These homes are built to produce as much energy as

it consumes. This means lower utility costs, a reduced carbon footprint and a healthier living environment. A focus on high-performance insulation, energy-efficient systems and superior indoor air quality ensures that every Doug Tarry home is not just a house, but a home designed for future generations.

Choosing Doug Tarry Homes means investing in a legacy of excellence, sustainability, and community. The company is not just building homes, it’s building a better future, one thoughtfully crafted home at a time.

That’s the Doug Tarry Difference.

Experience the quality and craftsmanship of a Doug Tarry home firsthand by visiting one of our beautifully designed model homes. Step inside to explore thoughtfully planned layouts, energy-efficient features and high-end finishes that set our homes apart. Whether you’re looking for inspiration or searching for your dream home, the company’s team is ready to welcome you and answer any questions. Come see for yourself what makes a Doug Tarry home the perfect place to live.

At home or on your phone, visit dougtarryhomes.com.

REID’S HERITAGE HOMES

BUILDING HOMES WITH PURPOSE FOR EVERY STAGE OF LIFE

For more than 45 years, Reid’s Heritage Homes has been a trusted name in southwestern Ontario, building award-winning homes that cater to a variety of lifestyles and life stages. A commitment to quality, design and customer experience is evident in every detail. Whether you’re a first-time homebuyer, a growing family, or an active adult looking for a new adventure, Reid’s Heritage Homes has a home that fits your needs.

Reid’s Heritage Homes believes every home should be built with purpose – a mantra that defines an approach to creating communities where people can live, grow and thrive. Four exceptional communities offer something for everyone, whether you’re looking for a spacious family home, a cosy bungalow or an urban townhome.

ROYAL WINDSOR: MOVE IN NOW

For those seeking a more relaxed, vibrant lifestyle, Reid’s Heritage Homes highlights Royal Windsor, a stunning five-storey condominium that offers breathtaking views of Georgian Bay and the Blue Mountains. Located in Collingwood, this community is designed with active adults in mind – ideal for those who are looking to explore and enjoy life in one of Ontario’s most picturesque regions. With 15 suites remaining, this move-in-ready condominium

provides a perfect blend of luxury, convenience and natural beauty.

Imagine waking up each day to panoramic views, exploring local hiking trails, or enjoying a round of golf nearby. Royal Windsor offers exactly that and more, allowing residents to embrace the lifestyle they’ve always dreamed of. It’s more than just a place to live; it’s a community designed to foster an active, fulfilling way of life. To learn more, contact Stan Reljic at 705.888.5124.

POET AND PERTH: BUNGALOW TOWNHOMES

Welcome to Poet & Perth – a masterplanned community located in the heart of scenic Stratford. Inspired by nature and designed to delight, this development features a variety of townhomes, including bungalow designs, urban stacked and rearlane models. For those looking for a

more laid-back lifestyle with minimal upkeep, the bungalow townhome options are a perfect fit.

Starting in April, Reid’s will be launching its furnished model homes, offering a firsthand look at the opportunities within Poet and Perth. Visit the community to explore the spacious layouts, and see the high-quality finishes that define Reid’s Heritage Homes. The sales centre located at 41 Marketplace in Stratford is open to help guide you through the homebuying process and answer your questions.

Whether you’re downsizing, moving up the property ladder, or simply looking for a home that offers both style and function, Poet & Perth has something to meet every need. Call Vedrana Pavlovic 519.498.4111.

THE BLOCK ON CLAIR & MODAL AT MAIN

For young families, professionals, or investors, The Block on Clair offers a collection of urban stacked and rear-lane garage townhomes in Guelph. These modern, beautifully designed homes are perfect for those who want to be close to urban conveniences while still enjoying

a quiet community surrounded by trees. The Block on Clair is an ideal option for first-time buyers and those looking to invest in a growing Guelph – with the University of Guelph, employment opportunities and transit, right at your fingertips.

If you’re a young professional or investor looking for an affordable yet stylish home, Modal at Main in Cambridge might just be your perfect fit. No matter your life stage, Modal at Main provides a home that fits your needs – whether you’re starting a family, climbing the career ladder or securing an investment for the future.

With sleek, contemporary designs and a focus on functionality, Modal at Main is perfect for first-time buyers, professionals or young families who want to settle into a thriving community.

Call David Calvano at 416.358.2766.

THE REID’S HERITAGE HOMES DIFFERENCE

The Discovery Centre in Cambridge serves as the perfect starting point for buyers to learn more about these exciting new communities. The sales centre is designed to showcase the incredible design options and

finishes available, while providing a welcoming space where you can explore all the possibilities that come with owning a Reid’s Heritage Home. Ready to learn more?

Visit today and take the first step toward finding your perfect home. Explore the possibilities, ask questions, and see for yourself why Reid’s is one of southwestern Ontario’s premier builders. Whether you’re looking for breathtaking views, a peaceful community, or a sleek urban townhome,

MAKE THE MOVE TO ELORA AND DISCOVER THE CHARM OF SOUTH RIVER

In the heart of Elora – one of Ontario’s most picturesque towns – lies South River, a vibrant new community that offers the perfect blend of smalltown charm and modern living. For homebuyers seeking a fresh start away from the congestion and stress of the city, South River is calling.

CALL ELORA HOME

Elora is often described as Ontario’s best-kept secret. Just 90 minutes from Toronto, 22 km from Guelph, and 30 km from Kitchener-Waterloo, this enchanting town is nestled along the Grand River and is known for its scenic beauty, including the iconic Elora Gorge, cascading waterfalls, and lush trails. Imagine starting your day with a peaceful walk by the water or spending weekends exploring the town’s unique boutiques, galleries

and farm-to-table restaurants. It’s the perfect antidote to the fast-paced lifestyle of the city.

Beyond its natural beauty, Elora is a community rich in culture and creativity. From the internationally renowned Elora Festival to yearround farmers’ markets, there’s always something to experience. For those who love the arts, live music and a close-knit community vibe, Elora offers an abundance of opportunities to connect and create.

SOUTH RIVER: WHERE MODERN LIVING MEETS TIMELESS CHARM

South River is thoughtfully designed to complement Elora’s historic charm while offering the conveniences of contemporary living. This masterplanned community features a variety of home styles, from low-

maintenance condo townhomes to spacious detached two-storey homes and bungalofts, catering to diverse lifestyles. Whether you’re a young professional, a growing family, or someone looking to downsize, South River has a home to suit your needs. Each home boasts modern finishes that pay homage to Elora’s heritage, with high-end included features and options for two- and three-car garage plans. Beyond the front door, the appeal of South River continues with spacious lot sizes and extra-deep lots. This connection to nature is further enhanced by community parks, walking trails and outdoor spaces designed to foster connection and encourage outdoor living. South River perfectly blends small-town charm with the conveniences of modern life.

A LIFESTYLE WORTH MOVING FOR

Elora offers the best of both worlds: A tranquil environment and easy access to urban centres. Commuters will appreciate the short drive to Guelph, Kitchener-Waterloo and even Toronto, making it possible to balance work in the city with life in a serene setting.

For families, South River is surrounded by excellent schools and ample recreational opportunities. Meanwhile, retirees will love the low-maintenance homes and peaceful atmosphere. And with the rise of remote work, professionals can enjoy a slower pace while staying connected.

YOUR NEW BEGINNING STARTS HERE

It’s time to trade the noise of the city for the sounds of nature. It’s time to make the move to Elora and find your perfect home in South River.

Ready to learn more? Visit the website or schedule a tour to experience everything South River has to offer. Your dream home – and your dream lifestyle – are waiting.

Visit granitehomes.ca, or stop by the award-winning model home at 133 South River Rd., Elora, open seven days a week. You can also call 519.222.3988 or email sales@ granitehomes.ca.

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 reassess your financial situation and make

decisions that align with your current goals. A mortgage renewal is more than just signing on the dotted line – it’s a chance to shop around, negotiate and take control of your financial future.

There are some essential tips and strategies to help you navigate mortgage renewals in today’s high interest rate environment. Whether you’re a first-time renewer or an experienced homeowner, these insights can save you money and reduce financial stress.

WHY MORTGAGE RENEWALS MATTER IN 2025

Mortgage renewals happen when your current mortgage term ends, and you need to secure a new term for the remaining balance. In 2025, many Canadian homeowners will be renewing at rates significantly higher than they locked in five years ago. For context, mortgage rates in 2020 hit historic lows, with some fixed rates dipping below two per cent. Fast-forward to today, and fixed rates are hovering around four

“

” A mortgage renewal is more than just signing on the dotted line – it’s a chance to shop around, negotiate and take control of your financial future.

per cent or more, putting upward pressure on monthly payments. If your term is ending soon, it’s crucial to approach your renewal with a strategy to minimize financial impact.

TIPS FOR NAVIGATING YOUR MORTGAGE RENEWAL IN 2025

1. Start early: Don’t Wait Until the Last Minute Lenders generally send renewal letters two to four months before your renewal data, but waiting until then limits your options. Begin exploring renewal opportunities at least four to six months before your term expires. This gives you time to compare rates, shop around, and lock in the best deal.

Pro tip: Lenders allow you to secure a new mortgage up to 120 days before your renewal date that will be held until your renewal. If rates rise during this period, you’re protected. If rates drop, you can often negotiate own further.

2. Shop around for the best rate

While your current lender may offer convenience, don’t assume they’ll give you the best deal. Shopping around with other lenders or working with a mortgage broker can reveal competitive rates and terms. Mortgage brokers, such as our team at Homewise, in particular, have access to multiple lenders and can

help you find a product tailored to your needs.

Why this matters in 2025: Higher rates mean even small differences in your mortgage rate can have a significant impact on your monthly payments and overall interest costs.

3. Consider extending your amortization period

If higher rates are stretching your budget, extending your amortization period could help lower your monthly payments. For instance, if you have 20 years left on your mortgage, you could extend it to 25 years, reducing your payment burden in the short term.

Things to keep in mind:

• While extending your amortization reduces monthly payments, it increases the total interest you’ll pay over the life of your mortgage.

• You can always shorten your amortization later or make extra payments when rates stabilize or your financial situation improves.

4. Evaluate your financial goals

Mortgage renewals are a great time to reassess your financial goals. Are you planning to stay in your current home long-term, or are you considering selling in the near future? Your plans can influence whether you choose a fixed or variable rate, the length of your term, and other features such as prepayment flexibility.

Fixed vs. variable in 2025:

• Fixed rates offer stability in today’s uncertain environment.

• Variable rates might still be attractive for those expecting rate cuts later in the year but come with more risk if rates remain high.

5. Negotiate with your current lender Don’t accept your lender’s first renewal offer without negotiation. Many lenders are willing to match or beat competitive offers, but they won’t do so unless you ask. Use quotes from other lenders or brokers to leverage a better rate or more favorable terms.

6. Take advantage of prepayment options

If you’re in a position to do so, making a lump sum payment or increasing your monthly payments before or during renewal can help reduce your principal and save on interest over time. Many lenders allow up to 15 to 20 per cent of your original principal to be paid off each year without penalties.

WHAT TO WATCH FOR IN 2025

• Rising household debt: Higher rates mean higher payments, so consider your overall debt load and budget carefully.

• Inflationary pressures: Inflation could influence rates further, so stay informed about market trends.

• Government policies: Keep an eye on government announcements or programs aimed at easing affordability challenges, such as first-time buyer incentives or stress test changes.

KEY TAKEAWAY: BE PROACTIVE

Mortgage renewals in 2025 come with unique challenges, but with the right strategies, you can minimize financial strain and secure a deal that works for you. Start early, shop around and don’t hesitate to seek professional advice from a mortgage broker or financial advisor. A proactive approach can make all the difference in navigating this higher rate environment.

Ready to renew your mortgage?

Contact an unbiased mortgage advisor such as one of ours at Homewise to explore your options, compare rates, and ensure you’re getting the best possible deal.

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

+MORE CONTENT ONLINE nexthome.ca

Situated in the heart of Unionville, this collection includes elegant detached homes ranging from 2,500 to 6,000 square feet, and luxurious townhomes from 2,000 to 2,700 square feet — all with the highest standards of design and construction.

Angus Glen South Village is surrounded by premium amenities. Unionville’s historic Main Street and nature trails, valley lands and parks are all just steps away.

our Sales Presentation Centre 4500 Major Mackenzie Drive East Markham | 905.887.9950

MYTH VS. REALITY FOREIGN INVESTMENT IN THE PRE-CONSTRUCTION MARKET:

DEBBIE COSIC

Foreign investment in Ontario’s preconstruction market has long been a hot topic, often sparking debates about its role in driving up housing prices. While it’s easy to attribute skyrocketing costs to foreign buyers, the reality is far more nuanced. Understanding the true drivers of demand in Ontario’s pre-construction market requires dispelling myths and focusing on the data.

THE MYTH OF OVERWHELMING FOREIGN OWNERSHIP

One of the most persistent misconceptions is that foreign buyers dominate Ontario’s pre-construction market, buying up condos en masse and driving prices beyond reach for local residents. While foreign buyers have contributed to demand, their share of the market is significantly smaller than perceived. According to government data, foreign ownership represents only a small percentage of transactions in the housing market. Policies such as the Non- Resident Speculation Tax (NRST), which imposes a 25-per-cent levy on nonresident buyers, have further reduced foreign activity in the sector.

Contrary to popular belief, most pre-construction buyers are domestic investors and end-users. Many of these buyers are Ontarians leveraging local resources and financing to secure properties. They see pre-construction condos as an opportunity to build equity, secure future housing or generate rental income in a high-demand market.

WHAT’S REALLY DRIVING DEMAND?

The real drivers of demand in Ontario’s pre-construction market stem from local factors. A booming population, fueled by immigration and urbanization, has created an insatiable need for housing. The GTA alone absorbs thousands of newcomers each year, many of whom require immediate rental accommodations or are seeking to purchase homes.

Additionally, Ontario’s housing supply remains constrained by factors such as zoning regulations, limited land availability and lengthy approval processes for new developments. These supply-side challenges, combined with strong population growth, have placed upward pressure on prices and fueled demand for preconstruction properties.

THE ROLE OF LOCAL INVESTORS

Local investors are the backbone of Ontario’s pre-construction market.

They often purchase units with the intention of renting them out, addressing the region’s chronic rental shortages. These investors play a vital role in maintaining the rental stock, especially in urban centres where vacancy rates are low.

BOTTOM LINE

Although foreign buyers don’t dominate Ontario’s pre-construction market, they do play a role in funding new developments, adding to the rental supply and supporting economic activity. Restricting their participation slows project launches, reduce rental availability and could deter global investment. However, the primary drivers of demand remain local buyers, immigration-driven population growth and a limited housing supply. Instead of imposing broad restrictions, policymakers should focus on increasing housing availability, streamlining approval processes and improving financing options to create a more balanced market that works for both locals and newcomers. Rather than shutting out foreign buyers, Ontario should adopt policies that encourage responsible investment while prioritizing affordability and supply growth. It’s time to move past myths and address the real challenges shaping Ontario’s housing landscape.

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

+MORE CONTENT ONLINE nexthome.ca

TIMING A CRITICAL FACTOR

IN PURCHASING A NEW HOME OR CONDO

Timing really is everything in life, especially when it comes to buying real estate. In this cyclical industry, sales fluctuate, as do prices and availability. A great way to look at any new home or condo purchase is with a long-term outcome in mind. Historically, real estate has proven to be an excellent investment. In a hot market, your return-on-investment may begin to happen before you even move in; in a softer market, it may take longer. Now is an incredible time to buy. In fact, it has never been better. We are just starting to recover from the year of increasing interest rates and high inflation, and there are deals to be had with low deposits and incentives.

Timing affects home and condo buyers according to their personal circumstances and decision-making styles. Some plan for months and research to the hilt; others walk into a sales centre and make up their minds right away. There are other ways to look at timing as well, such as where in the selling cycle a community is. For example, purchasing from plans means you will enjoy the most choice of lots and designs, or in the case of condominiums, of suites, floors and views.

Getting in early also means you have time (up to three to six years with a condominium) to plan for your move and save money toward your purchase. If you have purchased

a smaller home or a condo for the first time, you can pare down your possessions, check out multipurpose furniture and think about decor so you can make the most of your colour selection appointment. Being able to choose features and finishes is a wonderful perk of buying early. Plus, builders often include Grand Opening specials that can save you thousands. Buying early also means you may earn equity before your occupancy date.

You may, however, opt to wait until a condo or lowrise community has been for sale for a while, to see how well it is being accepted by the buying public. At Baker Real Estate Inc., we usually see a jump in sales when construction starts on a building. For many, this peace-ofmind is priceless, because it means the builder has secured enough sales to obtain financing and start building.

There are also buyers out there who prefer to purchase late in a community’s or condominium’s sales process, when there are built homes and suites available for quick move-ins. Features and finishes are already installed – and remember that even the standards today result

in beautiful, functional surroundings. On a financial note, builders sometimes offer special incentives on the final few homes and suites, plus buying late in the selling cycle means you get to enjoy your new surroundings immediately.

Outstanding architecture, amazing amenities, fantastic features and finishes – all of this can be yours in convenient locations close to public transportation, shopping, entertainment venues and more. You can find something wonderful to accommodate every lifestyle, design preference and pocketbook, and enjoy warranty coverage in the process. Why not build equity while building your future in a new home or condo? And the sooner, the better.

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

Barbara Lawlor

BARBARA LAWLOR

Northshore Towns by National Homes

GROWTH PAYING FOR GROWTH

– AND EQUITABLE COMMUNITIES

MIKE COLLINS-WILLIAMS

Municipalities are navigating a complex web of financial pressures in 2025. With inflation remaining a significant challenge, the strain on municipal tax levies (or tax rates) has intensified, leaving many residents concerned about the rising cost of living. To address these fiscal pressures without overburdening taxpayers, one effective strategy is to broaden the tax base by increasing housing development. Expanding the housing supply offers a dual advantage: It alleviates the housing shortage while bolstering municipal revenues.

Expanding housing supply does more than provide shelter. It creates opportunities for greater affordability and choice, enabling residents to settle in communities that align with their preferences and needs. Additionally, this expansion distributes municipal costs across a larger pool of taxpayers, reducing the strain on existing residents. For instance, over the past year, approximately 880,000 jobs across Canada were supported by the new housing and renovation industry, highlighting how housing development contributes not only to municipal revenue but also to the broader economy.

Across Ontario, city and town councils are weighing difficult decisions regarding property tax increases to fund rising operational and capital costs for essential services.

Many municipalities are adopting an innovative solution: Driving growth in the city’s tax assessment through new developments. By welcoming more taxpayers, municipalities can generate the necessary revenue to sustain services while minimizing the financial impact on current residents. Residential construction – a significant driver of job creation – has been instrumental in regions such as the Hamilton Census Metropolitan Area (CMA), where nearly 17,000 wellpaying jobs are supported by the sector, contributing close to $4 billion to the local economy.

Strategic development, particularly high-density housing, significantly enhances land’s tax productivity. This long-term revenue stream is becoming a cornerstone for municipalities aiming to balance budgets. Take, for example, a vacant downtown lot. The tax revenue generated from such a property is negligible compared to that of a multiunit residential building developed on the same site. Encouraging such transformations addresses both fiscal challenges and the critical need for housing. It also illustrates how the housing and renovation industry supports employment across Canada, where it remains a leading source of job creation. Smart municipalities are even looking at using new tools such as Community Improvement Plans to incentivize new development through financial breaks on things such as development charges.

Housing affordability hinges on an interconnected market. Increasing supply across all price points creates a ripple effect, making housing more

accessible at every level. Through a process called filtering, new housing options allow higher-income residents to move up the market, freeing up more affordable units for others. This demonstrates the importance of fostering market-driven solutions alongside affordable housing initiatives to improve overall accessibility.

Progressive municipalities recognize the urgency of reducing barriers to housing development. By prioritizing these efforts, they can tackle the twin challenges of affordability and financial sustainability, setting the stage for a thriving future. In 2025, the need for action is clear: Building more housing is not just about growth – it’s about ensuring a resilient and equitable community for all.

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

HOUSING, AFFORDABILITY

AND TRAFFIC IN THE GTA TACKLING

What does it take to make the Greater Toronto Area a place where everyone can thrive? Affordability, housing supply and traffic are shaping how –and where – people live, work and invest. TRREB’s 2025 Market Outlook & Year in Review report explores these pressing issues and outlines actionable solutions to keep the region vibrant and sustainable.

HOUSING AFFORDABILITY AND SUPPLY

Affordability remains a key challenge across the Greater Golden Horseshoe (GGH). High development charges, excessive taxes and complex administrative hurdles not only delay housing projects but also drive up costs, making it more difficult to meet the increasing demand for housing.

“Traffic congestion and housing affordability, whether buying or renting, are interconnected challenges that require dedicated attention and solutions,” says TRREB CEO John DiMichele. “The current system of excessive development charges, increasing taxes and persistent delays due to administrative hurdles, only exacerbates these issues. This stalls any progress on increasing the housing supply needed to support our growing communities.”

2025 MARKET OUTLOOK

Lower borrowing costs are anticipated to boost market activity, with 76,000 home sales expected in 2025. The average home price is forecast to

see a modest increase, reaching $1.14 million, signaling a return to more balanced market conditions. However, external factors, including the possibility of U.S. tariffs, could influence consumer confidence and impact overall market performance.

TRAFFIC AND LIVABILITY

Congestion affects much more than daily commutes, undermining productivity and making some areas less appealing for residents and businesses. Addressing these challenges requires investment in transit-oriented developments and smarter infrastructure planning to improve mobility and ease traffic pressures.

A COLLABORATIVE PATH FORWARD

These challenges cannot be tackled alone. TRREB emphasizes that governments, industry stakeholders and communities must work together to address housing supply,

affordability and infrastructure needs. Coordinated efforts will ensure the GTA remains a thriving, inclusive region.

The report also emphasizes the importance of “missing-middle” housing – townhomes, duplexes and lowrise multi-unit buildings – and purpose-built rentals to address the region’s housing needs.

For deeper insights, interactive infographics, and videos, explore the 2025 Market Outlook & Year in Review report at trreb.ca.

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.

WHAT IS A POWER OF ATTORNEY AND

WHAT SHOULD IT INCLUDE?

JAYSON SCHWARZ, LLM

Whether you are a young or an older person, preparing Powers of Attorney and Wills is a necessary evil that everyone not only should do but must do. I stress this because I have seen so many times the mess that is left behind when an individual doesn’t take care of their affairs and a family is left trying to pull the pieces together. This article is not about your Will, it is about preparing Powers of Attorney and not just using printed forms. This became glaringly obvious to me recently when a man suffered a brain aneurism, and his wife was put in the horrible position of having to decide whether to end all life support, effectively leading to the death of her husband.

The husband should have made that decision himself earlier, and spared his wife the horror and guilt. How do we do that?

There are two kinds of Powers of Attorney (POA) that each of us should sign. The first is for financial matters. This POA allows the designated attorney to conduct all financial affairs, as if he or she were that person. This would help, for example, in a case where a person had two broken arms and couldn’t sign cheques. Even with this POA, if you want restrictions and specifics, you need to have the lawyer you retain include these details in the legal document.

The POA for personal care gets even more tricky. This is where you need to think about all of the potential problems that could occur,

and how you want to make decisions on what happens in advance. As an example, here is one kind of clause: I do not wish to be kept alive for any significant period of time if I am in a vegetative state or I am being kept alive by artificial means, unless there is a reasonable chance of my recovery such that I will no longer be in a vegetative state or kept alive by artificial means. Where there is no reasonable chance of recovery, I direct that I be allowed to die and not be kept alive by medications, artificial means or “heroic measures,” and I direct that any such medications, means or measures that would keep me alive in those circumstances be withheld or withdrawn. I do, however, ask that medication, means and measures be mercifully administered to me or medical or surgical procedures be taken to

alleviate suffering even though this may shorten my remaining life. Or, as an example, here is a list to consider: Health care, nutrition, shelter, clothing and hygiene. At our firm, we typically arrange for either a GP or surgeon to be available to review these issues, and be able to discuss them with our clients as part of the process in order that we might incorporate their desires into their POA.

Taking these steps and clarifying these matters now is the best gift you can give your loved ones. Don’t wait.

Jayson Schwarz LLM is the founding senior partner of Schwarz Law Partners LLP. schwarzlaw.ca.

ROB AND ED LUCCHETTA PRINCIPALS, LUCCHETTA HOMES

Prospective new-home buyers heading out of the GTA to the Niagara Region in search of more space and better value might want to consider Lucchetta Homes, based in Welland, Ont. For more than 60 years, the company has focused on delivering top-quality construction, design, value and exceptional customer service to this increasingly popular destination.

Second generation principals Rob and Ed Lucchetta discuss carrying on the legacy and tradition established by their father Ugo in the 1960s, and what the next chapter of this distinguished new-home builder looks like.

by WAYNE KARL

Let’s start with a general question: How was 2024 for Lucchetta Homes?

Last year was a challenging year for homebuilding but a great year for those looking for great deals on well built homes. We sold a number of homes, and the values have never been better. Those who bought last year made out very well.

And how is 2025 shaping up?

For those who have worked hard and are looking for a well-built home away from the hustle and bustle of the city, our WaterCrest community in the Hunters Pointe active adult community, in the heart of Niagara

region, is a welcomed sight. Many buyers are empty-nesters who travel south for the winter, and open house visits usually ramp up in the spring, when they return. This year, we have had a lot of interest in our Hunters site, particularly because it is an all bungalow and bungalow town community. Pricing has never been better and there are still excellent lots available. If people were waiting for the lower pricing, they have waited long enough.

Lucchetta Homes has been building for more than 60 years in the Niagara Region… an area which is seeing increasing

interest, as some buyers move westward out of the GTA in search of affordability and value. How do you do foresee this market performing over the next few years?

Many Ontarians are drawn to Toronto and the big city early in their career for work. Once they have had enough, many look towards the Niagara peninsula as their place to spend the next phase of their life. Niagara is close to Toronto, but it is a great place to call home. A lower cost of living, better quality homes and lower land costs give much better value in the Niagara peninsula. Our WaterCrest site for example is an all-bungalow site with single-family and bungalow towns available. With prices starting in the low $800,000s, it’s great value. We always welcome potential clients to come and see the difference for themselves. Values have never been better and WaterCrest is

in the final phase of Hunters Pointe. When they’re gone, they’re gone.

What is it about this community that sets it apart from others in the area?

WaterCrest is a unique community at our Hunters Pointe adult lifestyle community located in Niagara. Nestled between the Welland Canal and the Welland River, it is close to major airports and major highways. Amenities such as shopping and entertainment are all minutes away. Besides a great location with only bungalow and bungalow towns available, Hunters Pointe also boasts a well-equipped community centre, complete with a full-sized indoor pool and spa, gym, activity centres, ballroom and events centre, library, new pickle ball and tennis courts and coming soon, shuffleboard.

Like-minded individuals have made Hunters Pointe their home, with dozens of clubs including golf leagues, card nights and

fitness classes of all types. Great friendships have formed with so many of the residents that many even vacations together. That’s why we were chosen as the community of the year by the Canadian Home Builders’ Association, our great sense of community that is so prevalent throughout. Hunters Pointe is the only community in Ontario to receive this prestigious award.

What else about Lucchetta Homes would you want prospective newhome buyers to know?

Our father began building homes in the lates 1960s. He was a trained furniture maker in Europe and began as a cabinetmaker in Canada. He built homes for veterans under the Veterans’ Land Act program, working throughout southern Ontario. He always had one basic rule which our company still builds under today, and that is to build every home as if you are going to live in it yourself. Our company has progressed a lot from those days. We are now building every home as an Energy Star rated home, which is 20-percent better built than a standard code-built home. We keep ahead of the long-term trends to give our customers the latest in homebuilding technology. And every homebuyer gets to spend time with our design team to customize your plan and personalize your interiors with our ARIDO-certified designer. To this day, we still build every home as if we are going to live it ourselves.

lucchettahomes.com

on a personal note

What is your greatest inspiration in business and in life?

These days, we are seeing so much uncertainty and confusion with the American tariff situation, but we have been so inspired by the rise in patriotism for all things Canadian. I know Canadians are a hardy bunch and we will get through this together. Supporting each other is so much more important now. Buy Canadian products and buy local.

How do you spend your time when not at the office or on a job site?

Family is the most important off-time focus. For fun, we both golf, cycle and ski when it comes to sports, following our favourite hockey and soccer teams comes a close second.

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.

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.

FIND YOUR NEXT HOME

The

AJAX

1. Time Rossland Road marshallhomes.ca

AURORA

2. Queen’s Grove Collection Yonge St. & Bloomington Rd. northstarhomes.com

3. Allegro 36 Klees Cres. geranium.com

4. Shinning Hill 24 St John’s Sideroad countrywide.ca

BRAMPTON

5. Bodhi Towns Fogal Road & Nexus Ave. countrywide.ca

6. DUO Condos 245 Steeles Ave. W. duocondos.ca

7. Three Rivers Claireville Goreway Dr. & Humberwest Pkwy nationalhomes.com

8. Queens Lane Townhomes Mississauga Rd. & Queen St. branthavenbrampton.com

9. Classic Drive Creditview’s Valley Lands & Lionshead Golf and Country Club branthaven.com

BRANTFORD

10. Brant West 501 Shellard Lane losanihomes.com

CALEDON

11. Palgrave Estates Mount Pleasant Rd. & Hunsden Rd. flatogroup.com

12. Pathways Caledon East Old Church Rd. & Innis Lake Rd. flatogroup.com

13. Highlands Caledon East

22 McKee Drive, Caledon dunsire.com

CLAIREMONT

14. Cresthaven Estates Brock Rd & Central Street

COURTICE

15. Courtice Glen Bloor & Trulls Rd. mytribute.ca 16. The Vale 57 Glen eagles Dr. nationalhomes.com

ETOBICOKE

17. The 900 Condo Signature Residences 900 The East Mall 9hundredcondo.ca

KING CITY

18. Triple Crown Estates Dufferin Street & 15th Sideroad remingtonhomes.ca

KLEINBURG

19. Kleinburg Hills Appleyard Ave countrywidehomes.ca

MARKHAM/ UNIONVILLE

20. Cornell Markham Bur Oak Ave. & Hwy 7 ballantryhomes.com

21. Upper East Side Unionvillle Major Mackenzie & Woodbine fieldgatehomes.com

22. Riverwalk Meadows Ninth Line & 14th Ave. flatogroup.com

23. Angus Glen South Village 9980 Kennedy Rd., #200. kylemorecommunities.com

24. Kennedy Manors 4500 Major Mackenzie Dr East. kylemorecommunities.com

OSHAWA

25. Park Ridge Conlin & Townline Rds. tributecommunities.com

PICKERING

26. Seaton 1075 Taunton Rd. fieldgatehomes.com

PORT PERRY

27. Courts of King’s Bay Near Port Perry geranium.com

RICHMOND HILL

28. Jefferson Reserve 363 Jefferson Side Road countrywide.ca

29. Millbrook Park

Elgin Mills & Leslie St. northstarhomesinc.com

30. Park Lane Place Elgin Mills & Leslie St. northstarhomesinc.com

31. Observatory Hill Bayview Ave. & 16th Ave. myobservatoryhill.ca

32. King East Estates King Rd. & Toscanini Rd. pureplaza.com

SCARBOROUGH

33. 670 Progress Ave. Progress Ave. & Grangeway Ave. fieldgateurban.com

TORONTO

34. Lambtown Towns 2650 St. Clair West dunparhomes.com

35. 2650 St. Clair Ave W. 2650 St. Clair Ave W dunparhomes.com

THORNHILL

36. Citylux Towns at Thornhill Woods Dufferin St. & Rutherford Rd. fieldgatehomes.com WHITBY

37. Country Lane Taunton Rd. & Country Lane countrylanewhitby.com

38. Wellings of Whitby 372 Taunton Road E wellingsofwhitby.com

WOODBRIDGE

39. Sora Vista Pine Valley & Teston Rd soravista.ca

40. Woodend Place Major MacKenzie & Pine Valley Dr. woodendtowns.ca

BUILDERS IF YOU WOULD LIKE TO INCLUDE YOUR PREVIEW REGISTRATION, NEW RELEASE OR SITE OPENING IN THIS FEATURE, JUST EMAIL THE DETAILS TO EDITORIAL@NEXTHOME.CA

BURLINGTON/ WATERDOWN

1. Northshore Condo 484-490 Plains Rd. E. nationalhomes.com

2. Tyandaga Heights Burlington nationalhomes.com

4. Northshore Towns 490 Plains Rd. E. nationalhomes.com

CAMBRIDGE

4. Modal at Main 840 Main St, Cambridge modalatmain.ca

ELORA

5. South River 133 South River Rd. granitehomes.ca

FERGUS

6. Bellwood Estates Fergus geranium.com

GEORGETOWN

7. Juniper Gate 10130 10 Line, Norval remingtonhomes.com

GRIMSBY

8. Grimsby Waterfront 398 N Service Rd. losanihomes.com

GUELPH

9. Argyle Village Lowes Rd E & Gordon Street argylevillage.ca

10. Northside Guelph Woolrich St & 7 granitehomes.ca

11. The Block on Clair 331 Clair Rd E. reidsheritagehomes.ca

HAMILTONWENTWORTH

12. Soho Homes at Barton & Glover Barton St. & Glover Rd. losanihomes.com

13. Highland Park & Central Park: Midtown & Soho

Upper Red Hill Valley Pkwy & Rymal Rd. losanihomes.com

KITCHENER/ WATERLOO

14. Wallaceton Huron Rd. & Fischer-Hallman heathwood.com

15. Lackner Ridge Lackner Blvd & Ottawa St N lacknerridgetowns.ca

MILTON

16. The Valleylands Mayfield Rd. & Chinguacousy fieldgatehomes.com

17. Thompson Towers Thompson Rd. S & Drew Centre thompsontowers.ca

MISSISSAUGA

18. Whitehorn Woods 1240 Britannia Rd. W. nationalhomes.com

19. Streetsville Centre Mill St. & Queen St. S. dunparhomes.com

NIAGARA REGION

21. Luna 205 St. Davids Rd, Thorold silvergatehomes.com

22. Harbourtown Village

574 Seneca Drive, Fort Erie silvergatehomes.com

23. Hazelwood on the Grand Hardy Rd. sifton.com

24. Joy Towns Niagra branthaven.com

25. Bench Mark Ontario St. & Drake Losanihomes.com

OAKVILLE

26. The Greenwich at Oakvillage Trafalgar Rd. & Dundas St. East branthaven.com

27. Bronte Meadows Bridge Rd & Warminster Dr. flatogroup.com

28. Upper West Side Condos 2 351 Dundas St. East branthaven.com

29. Trafalgar Ridge River Oaks Blvd. & Namron Gate dunparhomes.com

30. The Villages of Oak Park Trafalgar Rd. & Dundas st. E. ballantryhomes.com

31. West & Post 2714 Westoak Trails Blvd. branthavenoakville.com PARIS

32. Riverbank Estates Nirh River losanihomes.com

ST. CATHARINES

33. Lincoln Estates Lincoln Ave. & King St. losanihomes.com

34. Lusso Urban Towns Martindale Rd. & Grapeview Dr, St. Catharines lucchettahomes.com

35. Merritton Mills St. Catharines silvergatehomes.com

36. Benchmark at Vista Ridge 4008 Mountain St., Beamsville losanihomes.com

ST. THOMAS

37. Harvest Run Centennial Parkway & Elm Street dougtarryhomes.com

38. Prudhomme’s Landing 1051 Old Thorold Stone Road silvergatehomes.com

STRATFORD

39. Poet & Perth Quinlan Rd & O’Loane Ave, Stratford. poetperth.ca

STONEY CREEK

40. Maplewood Park Upper Creswood maplewoodstoneycreek.com

41. Sweetberry Barton & Glover sweetberrytowns.ca

WELLAND

42. Davis Heights 1535 Haist St, Pelham lucchettahomes.com

43. The Residences at Hunters Pointe 71 Kyntre Trail lucchettahomes.com

45. Riverside at Hunter’s Point 300 Daimler Pkwy., Welland lucchettahomes.com

46.Shelter Cove 15 Cricklewood Cres., Nanticoke sheltercove.ca

WEST REGION

47. St. George Village Concession 2 & Woodhill Rd. losanihomes.com

48. Brant West 562 Shellard Ln losanihomes.com

49. Magnolia Trails Modeland Rd. & Michigan Lane sifton.com

50. Soleil St. Clair Corunna sifton.com

51. Expressions & Riverbank Estates 1021 Rest Acres Rd., Paris losanihomes.com

52. Knightsbridge Graff Ave. & Mornington St. sifton.com

53. Cottonwood Dingle St. sifton.com

54. Edgewood Suites 270 Hagan Street East, Dundalk flato.com

55. Discoverie Condos 7 Central Ave Fort Erie DiscoverieCondos.ca

BARRIE

1. FOUR10 Yonge 410 Yonge Street masonhomes.ca

2. Midhurst Valley 1296 Carson Rd. geranium.com

3. Heartland Hwy 89 & Yonge St., Baxter brookfieldhomes.ca

4. Midhurst Hwy 26 & Bayfield Rd. Brookfieldhomes.ca

BEETON

5. GreenRidge & Beeton

Village 41 Main St. W. flatogroup.com

CAMBELLFORD

6. Haven on the Trent Forest Hill Rd. & Riverside Trail sifton.com

COLLINGWOOD

7. Mountain House at Windfall Mountain Rd. & Crosswinds Blvd. georgianinternational.com

8. Collingwood Maple & Sixth Street georgianinternational.ca

9. Reverie 391 First St, Collingwood reverietowns.com

COURTICE

10. The Vale Prestonvale Rd. & Bloor St. nationalhomes.com

DUNDALK

11. Edgewood Greens Hwy. 10 & Main St. East flatogroup.com

12. Edgewood Suites 270 Hagan St. E., Dundalk edgewoodsuites.ca

HORSESHOE VALLEY

13. Craighurst Horseshoe Valley Rd. & Hwy. 93 georgianinternational.com

14. Braestone Horseshoe Valley 3246 Line 9 North georgianinternational.com

LINDSAY

15. Grace & Grand flatogroup.com

NEWCASTLE

16. Belmont treasurehill.com

OWEN SOUND

17. Greystone Village 1800 2nd Ave. E. flatogroup.com

PETERBOROUGH

18. Parklands & The Condo Arbour Villas 1224 Chemong Rd. masonhomes.ca

PORT HOPE/ COBOURG

19. Port Hope Lakeside Village 415 Lakeshore Rd. masonhomes.ca

20. Kingswood Cobourg 425 King St. E. masonhomes.ca

21. Meadow Heights 82 Hillcrest Road, Port Colborne dunsire.com

SHELBURNE

22. Emerald Crossing Hwy. 89 & Hurontario St. fieldgatehomes.com

DEDICATED TO EXCELLENCE

THESE BUILDERS ARE PROUD OF THEIR COMMITMENT TO EXCELLENT CUSTOMER SERVICE AND CREATING GREAT COMMUNITIES.

MODERNIZING THE

DEVELOPMENT CHARGES ACT THE ANSWER IN 2025

DAVE WILKES

Over the last few years, there have been considerable discussions on the impacts of municipal development charges (DCs) on both the affordability of new homes and on the implications of the overall cost to build new housing. When combined with the eye-watering rate of increase for DCs over the last decade, and the accumulation of significant reserves at the municipal level, some pundits have called for their elimination. Given the important function that DCs serve, elimination is not the answer –but it is high time for the government to reassess how new homes are taxed and an important step must be modernizing the Development Charges Act.

DCs are intended to offset the cost of providing infrastructure and municipal services to support new housing growth and unlike lot levies, are calculated and imposed in a prescribed and formalized manner. Municipalities charge them to residential builders and developers on a per unit basis, and these taxes, such as other housing taxes are rolled into the final price of the home paid by the new home purchaser. DCs perform a vital function, because fundamentally, you cannot build new housing if you do not have running water, roads or sewage systems.

However, given the housing affordability and supply challenge facing the GTA, it is no surprise that DCs have come under sharp focus in recent years. This is due to a variety of reasons.

First, at the outset of the development charges system in the province over 35 years ago, the dollar amounts per home were relatively modest. The rate of increase of these charges, particularly in the last five to 10 years, has been staggering both in dollar terms and in percentage increase. Today the amount is between $95,000 and $163,000 per single-family home, depending on the GTA municipality, and is increasing even though average home prices are decreasing. Famously, one GTA municipality has increased its DCs by more than 6,000 per cent over the last 30 years. Applying that same rate to other purchases, like a cup of coffee from a popular chain or average compact car would mean paying $65 for a coffee or $1.2 million for a car today. In other words, the stakes and the cost implications are much more profound today, and the need for cost controls have never been higher.

Second, the process of establishing DCs and the underlying legislation have become increasingly complicated and there are definitely elements of the Act and regulations that require an update and/or reexamination. Since the 1997 version of the Development Charges Act (the framework legislation), there have been countless legislative and regulatory changes made. These changes have made both the calculation and application of DC rates more complex and difficult for all stakeholders involved. A clearer, simpler system would reduce confusion, varied interpretations, conflicts and legal disputes.

Third, jurisdictions across Canada and North America all have different ways to fund growth and housingrelated infrastructure. Given that

the GTA has some of the highest levels of municipal costs on new homes on the continent, updating the legislation would provide the province the opportunity to seek out and implement best practices. In particular, the opportunity to examine different and more efficient mechanisms that could be incorporated into the existing system to right-size DCs, lower costs and ultimately help address affordability. The DC system in Ontario performs a vital function, not only from the perspective of the provision of housing supportive infrastructure, but also by providing the legal framework that reduces or eliminates informal negotiationbased approaches. For these reasons alone, eliminating DCs is not a wise course of action and would return Ontario to the days of negotiated lot levies. Given the relative scale of DCs in dollar terms, the current housing crisis, the need to reduce complexity and the opportunity to learn from best practices from other jurisdictions, an update of the DC act is clearly the best course – and significantly overdue.

Now is the time for bold action to address generational housing affordability issues in the GTA.

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.

MARKHAM’S PREMIER LIFESTYLE COMMUNITY

Situated in the heart of Unionville, this collection includes elegant detached homes ranging from 2,500 to 6,000 square feet, and luxurious townhomes from 2,000 to 2,700 square feet — all with the highest standards of design and construction.

Angus Glen South Village is surrounded by premium amenities. Unionville’s historic Main Street and nature trails, valley lands and parks are all just steps away. Inquire today about our 2025 Incentives available now.