BC New Home Guide - Feb 21, 2014 by NextHome

Feb 21 - Mar 7, 2014 Volume 22 Issue 4

South Surrey Townhomes FROM $

469,900

INSIDE THIS ISSUE

2014 GEORGIE AWARD WINNERS

WHAT BIG BOX OPENINGS MEAN FOR REAL ESTATE

LEGAL ANGLE: STRATA STRATEGIES FOR HARMONIOUS LIVING

OWN FROM

$1,299/mo*

LIVEWORKPLAY FREMONT BLUE. Saltbox Rowhomes in the masterplanned FREMONT Riverfront District. On the shores of the Pitt River and a short walk to the growing Fremont Village.

MOS_BLU_NHG_DUEFEB12_FEB21.indd 1

14-02-11 5:04 PM

MOS_BL

1 5:04 PM

OWN FROM $1,299/mo*

*Prices are subject to change. E.&O.E.

MOS_BLU_NHG_DUEFEB12_FEB21.indd 2

LO U

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IVE

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4 METRO VANCOUVER NEW HOME GUIDE | FEB 21 - MAR 7, 2014

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n Ka

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FEB 21 - MAR 7, 2014 | METRO VANCOUVER NEW HOME GUIDE 9

contents

FEBRUARY 21 - MARCH 7, 2014 || VOLUME 22 ISSUE 4

ON THE COVER

p. 18

special features 12 Editor’s Note

Feb 21 - Mar 7, 2014 Volume 22 Issue 4

14 Toccata

A South Surrey Gardener’s Delight

JACOBSEN

by Janine Mackie

18 Jacobsen

West Coast Modern in South Surrey

West Coast Modern in South Surrey by Susan M Boyce

26 Dawson + Sawyer Semiahmoo Trail

South Surrey Townhomes FROM $

469,900

The lifestyle you dream of by Susan M Boyce

INSIDE THIS ISSUE

2014 GEORGIE AWARD WINNERS

WHAT BIG BOX OPENINGS MEAN FOR REAL ESTATE

LEGAL ANGLE: STRATA STRATEGIES FOR HARMONIOUS LIVING

86 Hampstead at Silver Ridge

Award-winning eco-friendly living in Maple Ridge by Stephanie MacDonald

columns 20 Legal Angle

A lawyer’s secrets for loving your townhome by Neil Mangan

Fundamentally Speaking Big box stores and real estate prices

homebuyers’ help 30 On the Horizon

Inside Mortgages It’s not all about rate! by Kris Grasty Buyer Profile Sun 72 was the right place for Kirsten by Susan M Boyce

93 96

The Smith Manoever — Deducting mortgage interest by George Dube

Mortgage Minute The equity solution — Cash in without cashing out

Susan Legge

Director of Sales, National

Josh Heppner

Senior Sales Manager, Western Canada

Edwin Rizarri art director

Resource Section

Bianca DiPietro

Mortgage calculator and rate table

Editors

Diane Duf lot Stephanie MacDonald

Listing Directory

Contributing Editors

Lydia McNutt Neil Mangan Wayne Karl

Complete listings of more than 250 new-home developments throughout Vancouver and the Lower Mainland

Design Editor

Yanic Simard Media consultants

Dave Bird 604.319.7102 Brenda Everitt 604.319.7103 Sales Coordinators

by Peter Kinch

editor-in-chief / Director of content

by Susan M Boyce

60 Tax Man 68

Jacqueline Hill

Checking out what’s hot and new in the Lower Mainland’s residential marketplace and beyond

by Wayne Karl

vice-president, wall2wall media

Justin Salvador production manager

Bala Gnanapandithan

Insurance Needs How to estimate your premiums

graphic designers

Mihail Terentiev production co-ordinator

Hannah Yarkony

Style File How to brighten up a room in unexpected ways

contributing EDITORIAL WRITERs

Susan M Boyce Janine Mackie

by Yanic Simard

80 The Georgie Awards The winning projects and companies

Published By

by Susan M Boyce

Professional Tips A calmer home in five steps

The Vancouver New Home Guide is a free publication published 25 times per year. Submit articles or advertising to Suite 102 - 4180 Lougheed Highway, Burnaby BC V5C 6A7 Phone 604.519.6080 Fax 604.519.6088

by Rachael Kalinsky

Style File Money Matches — Do you have yours?

newhomeguide.ca

by Gail Vaz-Oxlade

in the news 44 BMO

RRSP Study — Over one third of Canadians have already contributed in 2014

CREA Canadian home sales moderate further in Decemeber

district maps 16 South Surrey/ 34

White Rock Surrey/ Langley

62 Richmond

70 78 84

Tri-Cities Burnaby Maple Ridge/ Pitt Meadows

Copyright 2013 covers the contents of this publication and prevents reproduction in whole or in part: offenders will be prosecuted. We reserve the right to refuse any advertising, to make changes or edit advertising as necessary. Care will be taken to ensure copy accuracy but no warranty is implied or given by the publisher. The views and data expressed by columnists do not necessarily represent those of the publication.

//EDITOR’S NOTE

Get it in writing

SUSAN LEGGE

EDITOR-IN-CHIEF Wall2Wall Media Susan.Legge@wall2wallmedia.com Follow me on Twitter at Twitter.com/SusanLegge

uying a brand-new home offers you an opportunity to customize it to your liking. It can be a dream come true and an investment for the future – but don’t forget, it’s also legal transaction. The term “get it in writing” has never been more important in the case of the new-home purchase, since such a document outlines everything your home will have in it, on it and around it. Otherwise known as the Agreement of Purchase and Sale, the contract spells out the terms and conditions between you and your builder. Without it, if there is a misunderstanding or disagreement, it’s impossible to prove what was agreed upon. Since building a home is much more complicated than a resale transaction where the unit and/or property likely already exists, there is no set Agreement

of Purchase and Sale or standard contract for buying a new home. In some provinces, builders may have standard contracts prepared by the local home builders’ association or their new-home warranty program. Builders often prepare their own agreements, so contracts can vary from one builder/ developer to another and from province to province. Before you sign a contract, review it carefully with the builder and ask questions to make sure you fully understand what it contains. Your next step is to then take it to a real estate lawyer and have it reviewed. Once it is signed, it becomes a legal document and an agreed-upon contract, so seeking the services of an experienced real estate lawyer is an important step toward ensuring that your dream home becomes a reality.

As many reasons to buy As there are homebuyers

s this issue goes to press, I will be stepping down as editor of New Home Guide to take maternity leave. Having just bought a new home to accommodate a new addition to my family, I understand that there are as many reasons for buying a new home as there are new homes and new home buyers. Are you looking for more space in a condo in the suburbs? Maybe you’re willing to sacrifice a little bit of room to be closer to downtown and shorten your

DIANE DUFLOT

EDITOR Wall2Wall Media Daine.Duflot@wall2wallmedia.com Follow me on Twitter at Twitter.com/DianeDuflotW2W

12 METRO VANCOUVER NEW HOME GUIDE | FEB 21 - MAR 7, 2014

commute to work. Perhaps your kids have left the nest and you’re looking to downsize. Or maybe, like me, you’ll need to accommodate a nursery in the very near future. Whatever your reason for being on the new home market, my replacement, Stephanie MacDonald, will be here while I’m gone to ensure that, as always, New Home Guide provides you with valuable advice, every step of the way. Happy new home hunting!

N ET G ST *

! LY

Panorama Townhomes starting from $289,900! Spacious 2 bedroom and den homes with only 5% down. Move in today!

SALES CENTRE

62 AVE

60 AVE

152 ST

148 ST

604.953.1211 ashburyhill.com

64 AVE

146 ST

#100–14833 61ST Ave (at 148TH St.) Panorama, Surrey Open 12–5pm daily (except Friday)

FAIRBORNE.COM Ashbury Hill is developed by Fairborne Panorama Homes Ltd. *Ask a sales representative for details. E.&O.E.

FEB 21 - MAR 7, 2014 | METRO VANCOUVER NEW HOME GUIDE 13

//project profile

Toccata

Beautifully composed townhomes are a gardener’s delight

» by janine mackie

Nestled along a quiet end street in the trendy Morgan Heights community of South Surrey, Toccata offers a little something for everyone. “Young couples who are planning ahead love the location and that their kids can walk to the new elementary school, while those downsizing from a large family home appreciate that buying a townhome doesn’t mean giving up a fabulous backyard and garden. Toccatta has large fenced-in yards that provide homeowners the kind of private outdoor space you don’t often see in a townhome,” says Cheryl Guenther, Toccata’s sales manager. QUIET SETTING: Stroll along nature path connecting to Morgan Crossing

Foresight was taken by developer West Chester Grandview Properties when designing this welcoming collection of two and two-bedroomplus-den townhomes. By building the first release of homes at the street front, then building inwards towards the protected greenbelt, the final release of homes would be on premium lots with south-west facing backyards. “There’s that assumption that the final release are the less desirable locations, but people are pleasantly surprised that’s not the case. We’ve actually saved the best for last,” says Guenther. “People love that they can walk through, see and touch their future home and actually move in within two weeks.”

From the natural West Coast appearance of the exteriors with cedar shakes and stonework, right down to the rain head shower heads and heated tile floors, each detail was carefully considered to offer buyers both quality and exceptional value, with new townhomes at sell-out prices from just $354,900. Expert planning also went into the floorplans, which range from 1228 to 1344 sq. ft., to include a powder room on the main level, as well gas barbecue connections on the generously sized decks. Cook like a real chef in the dazzling well-appointed kitchen featuring gas cook top and sleek stainless-steel appliances. Three colour palettes give homes unique design flair and beautifully coordinate the granite-top island, wide-plank laminate floor and colour of cabinetry. Grow your own herbs and flowers in community garden plots

While indeed buyers have been impressed by the interior features, it’s the unique concept of community garden plots that has been especially attractive — a little touch of organic living in the midst of a dynamic urban community. Residents can grow their own fresh herbs, vegetables and wild flowers. “The garden club has proved to be a great way to meet neighbours and make new friends,” says Guenther. “It’s been a big deal for people as they move from large homes to not only have a yard but the camaraderie of other gardeners.” Whether you’re energized by retail therapy or an early morning tee off, Toccata’s enviable location puts everything within easy reach. Locals are already enjoying the plethora of shops, restaurants and services at both Morgan Heights and Grandview Shopping areas and the convenience of being at the US border in just 15 minutes or in Vancouver in 45 minutes along Highway 99. Don’t miss Tocatta’s SELL-OUT SALE Saturday February 22nd at noon, located at #46 2929 156th Street in South Surrey. Learn more at toccatacollection.com, or call 604-535.5088.

14 metro vancouver new home guide | feb 21 - mar 7, 2014

SOUTH SURREY/WHITE ROCK

SELL OUT SALES EVENT 5 TOWNHOMES REMAINING PRICED FROM $354,900

#46 - 2929 156th Street, South Surrey

SATURDAY FEBRUARY 22ND 12 NOON SHARP DON’T MISS YOUR CHANCE TO SAVE $$$ TOUR THE REAL THING!

Visit our virtual tour at vtours.englishbayphoto.com/26041 #46 - 2929 156th Street, South Surrey

FEB 21 - MAR 7, 2014 | METRO VANCOUVER NEW HOME GUIDE 15

184th St

176TH ST

168th St

152nd St

Serpentine Fen Nature Reserve

SOUTH SURREY / WHITE ROCK 40th Ave

d tR cen s e Cr

99a

32nd Ave

140th St

160th St

148th St

128th St

24th Ave

16th Ave

24th Ave

16th Ave

26th Ave

H GE OR GE

20th Ave

G KIN

South Surrey Athletic Park

Ma rine Dr

16th Ave

184th St

24th Ave

168th St

Sunnyside Acres Urban Forest Park

152nd St

Crescent Park

176TH ST

164th St

Crescent Beach / Blackie Spit

15 4

10th Ave 8th Ave

8th Ave 1

SOUTH SURREY / WHITE ROCK 1.

CANADA Dawson + Sawyer 15. The Hamptons STATES OF AMERICA OnUNITED The Course 16437 23 Ave. 253 171 Street 604-385-0111

Dawson + Sawyer Semiahmoo Trail 15128 24th Ave. 604-535-9633

Southbrooke

Jacobsen

7. 8.

Abbey Road 24th & 164th 604-542-0660

10. Morgan Heights

2687 158 St. 604-538-5591

Toccata 2929 - 156 St. 604-535-5088

604-723-4497

Blu

15988 32 Ave. 604-782-5258

Belcroft 15977 26 Ave. 604-568-8830

16092 - 28A Ave. 604-560-1053

13. Breeze #5 16223 - 23rd Ave. 604-582-1113

14. The Woods 32nd Ave. & 156A St. 604-538-8876

11. The Heights 2845 156th St. 778-545-8737

12. Niche 3039 156th St. 604-535-5511

10th Ave. & 165th St. 604-805-2941

Awesome Townhomes Coming Early 2014 dawsonsawyer.ca

Public Release February 22nd

West Coast Contemporary Living in South Surrey Designed to maximize living space, Jacobsen offers side by side garages and plenty of room to entertain. Enjoy the convenience of Morgan Crossing, Grandview Corners and the prestigious Southridge Academy just footsteps away. Live the single family lifestyle, without compromise.

1,733 - 2,219 sq.ft. Townhomes starting from $469,900* Private Previews Available Open Daily noon - 5pm (except Fridays) 2687 158th Street, Surrey

jacobsenliving.com 604.538.5591 Prices quoted are anticipated only and are subject to change without notice. E.&O.E.

Sales and Marketing by Fifth Avenue Real Estate Marketing Ltd. www.fifthave.ca

//cover story

Jacobsen

West Coast Modern » by susan m boyce

leek, chic, and distinctly contemporary, Jacobsen brings a whole new level of townhome style to South Surrey. Located kitty-corner to the shopping delights of Morgan Crossing, there’s an eye-catching, dramatic simplicity to the exterior, a modernist architectural style with the strong horizontal orientation often associated with the visionary Frank Lloyd Wright. Apparently I’m not the only one who’s impressed. “This is beautiful – just like something out of Dwell magazine,” says a woman standing outside the presentation centre with her husband. “Look at all the cedar and stone they’ve used on the exterior walls.

18 metro vancouver new home guide | feb 21 - mar 7, 2014

I haven’t seen anything like this anywhere in South Surrey.” Since clearly we’re kindred spirits when it comes to design, I can’t wait to see what the three of us discover inside. Sales manager Jason Dhah has already told me these townhomes are designed to feel like single-family detached homes, but seeing is believing. We head for the first display home to check it out.

Interior Savvy “We know it’s time for us to downsize from our house, but we just haven’t found anything that gives us enough space,” says the man as we walk past the side-by-side garage that’s a standard at Jacobsen, across a large front porch and open the front door to the first showhome. Suddenly conversation stops. The home we’re standing is one example of the floor plans ranging from 1,713 to 2,219 square feet, and the word “huge” comes to mind. It’s also, open, airy and filled with sunlight. There’s a true family-style kitchen with floor-to-ceiling cabinets, a centre island that would easily seat four, a dazzling marble backsplash above the five-burner gas range as well as upscale appliances sure to warm the

JACOBSEN | South Surrey

heart of any aspiring Iron Chef. Somehow the feeling is like standing in a five-star resort, and I half expect a waiter to appear around the corner bearing a tray of drinks and appies. “Well I could certainly get used to this fast,” says the woman, barely able to suppress a grin of enthusiasm. “Do you think those ceilings are nine feet?” I shake my head. No question in my mind — they’re not nine, they’re a full 10 feet high. Definitely not something you see every day in a new home. Turning to the other side of this floor plan, we make another cool discovery: this home boasts a whole other living and dining room on the west side. Spacious yet with a cozy feel to it, there’s a sophisticated ambiance to this space — perfect for times when you feel like just a bit more formality to your entertaining. Upstairs, each of the three bedrooms easily accommodates a queen-sized bed plus furniture. Still, I can’t help smiling as I overhear the beginning of a conversation about “plenty of room for when the grandkids stay over.” Before heading back downstairs, I take a quick peek in the laundry room — side-by-side washer/ dryers, shelving, and a generous work surface for sorting, folding and ironing. And yes, all this is standard too. Brilliant and oh-so-rare in a townhome.

A Neighbourhood to Savour “People often don’t realize how convenient this neighbourhood is to absolutely everything,” Jason says. “I can walk to Southridge School or Sunnyside Elementary in under five minutes. Steve Nash Sports Club is even closer, and Thrifty Foods is so close I can snag one of their custom pizzas and be home while it’s still too hot to eat.”

“ T his is beautiful — just like something out of Dwell magazine.” Jacobsen visitor He doesn’t need to tell me that Morgan Crossing’s other shopping, restaurants, and services are simply waiting exploration just around the corner, because I’ve already arranged to meet a friend at Mink’s Chocolate Café for a couple of the best lattés going — always served with a chocolate on the side. After that, there’s fashion outlet shops, trendy home furnishings as well as international “vintage” finds at Everything Wine. All this and summer’s still coming. Hint: hiking, biking, sand castle building at White Rock, and golf and ice cream cones at Crescent Beach. Yes, life is good here. The Jacobsen presentation centre and two display homes are located at 1 – 2687 – 158th St. in South Surrey. Prices for these threebedroom and four-bedroom homes start at $469,900. For more information visit jacobsenliving.com or call 604.538.5591. feb 21 - mar 7, 2014 | metro vancouver new home guide 19

//legal angle

A Lawyer’s Secrets for Loving Your Townhome

You can avoid legal tangles with a few simple steps » by neil mangan, jd I frequently work with owners and strata corporations when problems arise. While some conflicts are unavoidable, the following secrets to townhouse and condo ownership will help you get what you want and avoid legal problems. Neil Mangan, JD,

was born and raised in Vancouver, BC, where he leads the strata property practice group at Bell Alliance, Lawyers & Notaries Public (www.bellalliance.ca). Neil publishes the free online Strata Law Guide (www.stratalaw.ca) and is editor of The Condominium Manual: A Comprehensive Guide to Strata Law in British Columbia (www.condomanual.ca).

Secret 1:

Your Strata Corporation Isn’t Your Landlord

Most of us lead busy lives, and it is easy to forget that volunteers run strata corporations. No one is making money by taking the time to make sure everything is running smoothly. If you want to change something, the first step is to volunteer and give back to your community. You might be surprised how much goodwill this can generate. Secret 2:

Show Your Face

Sometime, somewhere, you are going to need your strata corporation to approve your dream renovation plans, act on a complaint or allocate funds to fix something important to you. Don’t be that friend who only shows up when they need a favour. Build relationships with strata council members and your community before you need to ask for something. Secret 3:

Think Like a Politician

The Strata Property Act creates a democratic mini-government in every strata corporation. Owners elect a strata council to oversee the day-to-day operations, enforce bylaws and generally act as the executive branch of the strata corporation. The strata council provides leadership and the owners control the purse strings by voting on annual budgets, special levies and withdrawals from the strata corporation savings account. If you are not happy with how the strata council is operating, rally support in your community, volunteer your time and stand for election. If you don’t like a proposed repair or expenditure, work with other owners to defeat the resolution at the next meeting. 20 metro vancouver new home guide | feb 21 - mar 7, 2014

Secret 4:

Educate Yourself

There are no “strata police.” It is up to you to make sure that your strata corporation is following the law and meeting the requirements under the Strata Property Act. Take the time to learn about townhome and condo governance. Learn your rights as an owner. There are many free and paid resources available to you, including my own online publication called the Strata Law Guide (www.stratalaw.ca). It is free and you can even ask me questions. Secret 5:

Work with a Strata Law yer

The law governing strata corporations can be confusing and complex. If you are an owner or strata council member, invest in working with a lawyer familiar with strata law in British Columbia. In my own practice, many owners are able to move forward and resolve their problems after sitting down with me to discuss their concerns. All About Relationship

Your strata corporation is your very own local government. By building a strong relationship with the strata council and other owners, it becomes easier to influence how your strata corporation operates and the collective decisions it makes.

SOUTH SURREY/WHITE ROCK

FEB 21 - MAR 7, 2014 | METRO VANCOUVER NEW HOME GUIDE 21

FEB 21 - MAR 7, 2014 | METRO VANCOUVER NEW HOME GUIDE 2

//Project profile

Dawson + Sawyer Semiahmoo Trail

Imagine the Possibilities

The lifestyle you dream of is yours at Dawson + Sawyer Semiahmoo Trail Nestled beside the historic Semiahmoo Trail, you’ll find an exquisite selection of 35 residences offering a perfect balance of life and style. Presenting

Each residence has been thoughtfully designed to impress even the most discerning customers. Many of the floorplans feature sunken living rooms, 10-foot ceilings, large character windows and luxury finishes: gourmet kitchens with family-sized islands, under cabinet lighting, quartz countertops and KitchenAid stainless steel appliances including gas range, as well as hardwood laminate flooring throughout. Outside, the 1,943 square feet E floorplan homes boast walkout Dawson + Sawyer Semiahmoo Trail, a backyards off the main floor inviting ease of entertaining, while blooming layered landscapes and stunning collection of West Coast-inspired community garden plots for herbs and vegetables welcome residents home. residences, comprising of two, three, three This townhome collection comes from Dawson + Sawyer, a developer with four decades of bedroom and flex, and four bedroom building quality well-designed homes. townhomes ranging from 1,298 to nearly Meanwhile, on those balmy summer nights, you don’t have to walk 2,000 square feet. through your basement or garage to get to your outdoor oasis — you can Imagine for a moment “Living right beside the walk right off your living room and use your yard as an extension of your stepping out of your new Semiahmoo Heritage Trail entertainment space. home and within seconds “Several of the homes feature side by side double garages and you are walking or running is perfect for long walks on the historic Semiahmoo through a beautiful West Coast sunken living rooms, and all of the homes come standard with high-end finishings,” says Joyce. Trail in South Surrey! forest. It’s a perfect place to Exclusively located on the Semiahmoo Trail, yet in the heart of a “Living right beside the walk your dog,or for for moms residential neighbourhood, you are within walking distance to fabulous Semiahmoo Heritage Trail with strollers and anyone else shopping at Morgan Crossing, excellent schools, restaurants and is perfect for long walks who loves the outdoors.” recreation. Ideally situated near major commuter and transit routes, the through a beautiful West best golf courses in the province and White Rock Beach. Your new Coast forest. It’s a perfect home awaits you! place to walk your dog, for moms with strollers and anyone else who loves the outdoors,” says Kate Joyce, Dawson + This is picturesque living at its very best! For more information or to register now for this Sawyer sales representative for the project. limited collection of two, three, and three bedroom and flex and four bedroom townhomes As soon as you enter the community, you located at 15128 24th Avenue on the Semiahmoo Trail, call 604-535-9633, email at know it is special. The exteriors boast modern semiahmootrail@dawsonsawyer.ca or visit www.dawsonsawyer.ca. Opening soon, architecture with real cedar shingles, Dawson + Sawyer Semiahmoo Trail is located at 15128-24th Ave. South Surrey. attractive gables, protruding bays, window Prices from the $300s to $500s. By registering online, you will be the first to be flower boxes, wood shutters and beautiful notified on all the details, advance events, pricing and special promotions. views of the North Shore mountains.

26 metro vancouver new home guide | feb 21 - mar 7, 2014

Single entry lounge pass starting from $33.25 tax inclusive ($24.50 children ages 2 â&#x20AC;&#x201C; 11) for 2 hours lounge use. 3 hour and 6 hour lounge use also available** ** Online bookings only; higher rates apply for walk-in lounge use

All amenities are included in the price of entry including bar service after 11:00 a.m. (Toronto, Vancouver) and 10:00 a.m. (Edmonton)

For online bookings go to www.plaza-network.com/booking/FlightInfo.aspx?ECONREF=W2W2013

//FUNDAMENTALLY SPEAKING

Watch the changing retail landscape

TO SEE IF YOUR NEIGHBOURHOOD MAY BE ON THE UPSWING » by WAYNE KARL

WAYNE KARL

is an award-winning writer and editor with experience in real estate and business. In Fundamentally Speaking, Wayne explores the basics – such as economic fundamentals – you need to examine when buying property. He can be reached at

wayne.karl@wall2wallmedia.com

or follow him on Twitter at Twitter.com/WayneKarl

It was almost one year ago – March 2013 to be exact – that Target Corp. began opening the fi rst of its approximately 125 store openings in Canada. The U.S. retail giant announced in 2011 it was moving north with a $1.8-billion acquisition of up to 200 Zellers store leases, with most of the initial openings coming from renovating existing Zellers locations. While the expansion may not have gone quite as planned, with Canadian consumers not exactly enthralled with Target’s product offerings and pricing strategy, there’s no question the move will continue to have a significant impact on the Canadian retail landscape – particularly as the company builds greenfield outlets in new locations. Now comes news that Wal-Mart plans to spend $500 million completing 35 supercentre projects over the next year. The U.S. retailer says it will spend more than $376 million to build, expand, relocate or remodel stores, as well as invest additional funds on operational improvements. For homeowners and prospective homebuyers, this is all good news – and a very good reason to pay attention. Such major retail developments are a significant influence on land development and housing. When the likes of Target, Walmart, RONA and other major players set up shop, particularly in a new location, it’s a good sign an area could be on the upswing. Like proximity to mass transit, schools and other amenities, being close to shopping is a major attraction for builders and, of course, prospective homebuyers. These features are among the key determining factors to enjoying your home while you live there, as well as for potential resale value in the future. Large retailers and commercial ventures don’t just pop up in the middle of nowhere or in declining neighbourhoods. These companies make careful, long-range and well planned-out decisions in lockstep with municipalities and developers, based on hard data, research and demographic information. This is why major retail expansion is good news: it’s an indicator the economy continues to strengthen; and, for those looking to buy a home, it’s a sign to look out for new or expanding neighbourhoods and solid buying opportunities.

28 METRO VANCOUVER NEW HOME GUIDE | FEB 21 - MAR 7, 2014

Large retailers and commercial ventures don’t just pop up in the middle of nowhere or in declining neighbourhoods.

Such retail developments, combined with the associated employment gains and economic and infrastructure improvements, point to new and expanding homebuying options. So, while you’re out there looking for your new home, look around for the big box stores. If they see a bright future for your prospective neighborhood, chances are it will make a sound buying decision for you.

SOUTH SURREY/WHITE ROCK

NO MORE WAITING. THE WOODS IN SOUTH SURREY IS FINALLY OPEN. COME TAKE A LOOK AT THIS ONE-OF-A KIND COMMUNITY. SURROUNDED BY NATURE, INSPIRED BY DESIGN. 3 bedrooms with studio space Rooftop patio Starting from $379,900

32ND AVE & 156TH ST GRAMERCY.CA /THE WOODS 路 604.538.8876

Sales and marketing by Fifth Avenue Real Estate Marketing Ltd. www.fifthave.ca

FEB 21 - MAR 7, 2014 | METRO VANCOUVER NEW HOME GUIDE 29

//On the horizon

Killarney Ridge:

Vancouver Single-Family and Duplex

on the horizon Checking Out What’s Hot and New in the Lower Mainland’s Residential Marketplace and Beyond » by susan m boyce

Tell us your news Got a new development you’d like us to feature in On the Horizon? Drop me a note at onthehorizon@ wall2wallmedia.com, and we’ll do our best to get you in the next edition.

Info is still very limited, but keep your eye on the tatladevelopments.com website because official priority registration is expected to begin early March for this boutique collection of just eight singlefamily and duplex homes. Central location at East 41st Ave. and Killarney St. puts you next to Earles Park, a community school, and transit routes. Project website will be killarneyridge.ca, but here’s an insider tip. If you just can’t wait, you can also call the Tatla office at 604.267.7043, and they’ll put you on the list to receive more info as soon as it’s released.

South Point Walk:

South Surrey Townhomes

Ideally located at 152nd St. and 29A Ave. in South Surrey, registration is now underway for this collection of luxury townhomes and apartments brought to you by Streetside Developments, a Qualico company. Outstanding proximity to everything from shopping and restaurants to schools, outdoor recreation, and transit. Prices start in the $250,000s. Be sure to visit online at southpointwalk. ca so you’re kept up to date with new information as it’s released. You can also call 604.560.3238 and a sales representative will call you back. First phase anticipated to be released this spring.

Loden Green:

North Vancouver Townhomes

Register early for this outstanding and limited opportunity. Surrounded by the lush greenery of Spirit Trail and Park, these three-bedroom homes will be BuiltGreen Gold — good for you, good for 30 metro vancouver new home guide | feb 21 - mar 7, 2014

the environment. Upscale finishing details, two-car garage, and easy access both to the great outdoors and urban amenities. Hurry, because only 30 opportunities are available. Loden Green will be located just off Mount Seymour Parkway in North Vancouver. For more information and to register, visit LodenGreenHomes.com. Sales anticipated to begin this spring.

The Village at Southwood:

South Surrey Single-Family

Morningstar is coming to Morgan Crossing. Located just off 168th St. and 23rd Ave., these three-bedroom homes are designed and built with families in mind. Strong architectural character accentuated by stone, stucco and wood create prestigious streetscapes. Generous backyards offer private spaces for outdoor enjoyment. Plus, you’re minutes from more than a dozen parks, top schools like South Ridge, golf at all levels, shopping, restaurants, and the US border and Semiahmoo Bay. For more information and to priority register, visit mstarhomes.com.

Creekside:

Surrey Townhomes

Brought to you by Dawson+Sawyer, Creekside will be a collection of sophisticated townhomes located in Surrey’s ever popular Clayton Village neighbourhood. Sales are anticipated to begin this summer with prices starting in the low $300,000s. Close to schools, parks, shopping, and transportation. For more information visit dawsonsawyer.ca/creekside or call 604.372.0400.

SOUTH SURREY/WHITE ROCK

FEB 21 - MAR 7, 2014 | METRO VANCOUVER NEW HOME GUIDE 31

IT’S NOT TOO LATE TO... DISCOVER BC’s BUILDERS, DEVELOPERS AND COMMUNITIES - ONE STORY AT A TIME

2013 BuildersAnnual.com

BUILDER & DEVELOPER

2013 Builder & Developer Annual

BC’s Builders, Developers and Communities – One Story at a Time

If you missed picking up this year’s issue, call 604.519.6080 or email homes@wall2wallmedia.com to receive your FREE copy!

Metro Vancouver’s finest new home builders and condo developers

AN INSIDE LOOK AT

Mortgage smarts – separating fact from fiction

NewHomeGuide.ca

Buyer expectations and demographics fuel Vancouver’s housing market

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32 Ave 160 St

24 Ave ng Ki

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Stayte Rd

140 St

16th Ave

16 Ave

B U I LT B Y :

vd Bl

20 Ave

y Hw

ge or Ge

124 St

South Surrey Athletic Park

MARKETED BY:

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FEB 21 - MAR 7, 2014 | METRO VANCOUVER NEW HOME GUIDE 33

116th Ave

SURREY / LANGLEY

d rR no ve os Gr

112nd Ave

104th Ave

SF ras er

104th Ave

Green Timbers Urban Forest Park

96th Ave

Tynehead Regional Park

Golden Ears Bridge

96th Ave

96 th Av B2 e

216th St

FR AS ER HW Y

88th Ave

88th Ave Bear Creek Park

A10

Gl ov er Rd

Wa y

12 0th

108th Ave

A21

A23

64th Ave

58TH AVE

64th Ave

A14 A3 A6 A18 A24 A11 A2561A A7 A20 A2 A15

Clayton Heights 604-372-0400

A2. Panorama Station 5957 152nd 604-372-2275

A3. Ashbury Hill

14833 - 61st Ave. 604-953-1211

A4. Cadence

5909 184A Street 604-727-5478

A5. Clayton Heights 7310 - 191B Street 604-723-4497

A6. Madison

14356 63A Ave. 604-543-6262

A7. Brixton

144th & 60 Ave brixtontownhomes.com

56TH AVE

A8. The Links

7797 170 St. 778-574-2550

A9. Uptown Clayton Village 99

19525 73rd Ave. 778-574-0146

A10. The Rockwoods 16241 - 84th Ave 604-503-1188

A11. Fusion

13886 62Ave 778-578-9779

A12. Zen

196th & 66th Ave. 604-247-2639 ext 262

A13. Sun 72

195th & 72nd Ave. 604-575-8806

A14. E ton

14888 - 62nd Ave. 604-953-0833

34 METRO VANCOUVER NEW HOME GUIDE | FEB 21 - MAR 7, 2014

240th St

232rd St

216th St

208th St

A12 LANGLEY BYPAS S

56TH AVE

GEORGE B LVD

A1. Dawson + Sawyer Creekside

Serpentine Fen Nature Reserve

A22

60th Ave

KI N

SURREY

A19

A9 A13

176TH ST

A17 99a

A16

G LO VE R

A1 72nd Ave

200th St

72nd Ave

Watershed Park

192nd St

188th St

168th St

160th St

144th St

152nd St

80th Ave

128th St

112th St

120th St

80th Ave

Gra de Rd

A15. Highlands at Sullivan Ridge 6085 - 146 St. 778-565-7768

A16. Enclave at Boundry Park 12775 63 Ave. 604-657-3709

A17. Redwood

redwoodtownhomes.com 604-503-6929

A18. Canvas

6350 142 St. 604-598-8873

A19. One 92

6685 192nd St. 604-576-1772

A20. Panorama Woods 6123 138th Street 778-593-9954

A21. Silverwood

84th Ave. & 164th St. 604-953-0288

A22. Salix

6477 196th Street 604-530-0054

A23. The Grove 68th Ave. & 194 St. 604-533-6968

A24. Blackberry Walk 14271 60th Ave. 604-501-6119

A25. One 44 5888 144 Street 604-503-6402

FRA SER HW Y

48th Ave

LANGLEY B1. Winchester Estates 40th Ave 21867 50th Ave 604-533-1886

B2. McBride Station Mavis Ave & McBbride St. 604-533-0881

B3. Radius 4921 223B St.

604-427-4050

B4. Virtue 2 00 & 68th Ave. 604-534-6800

B5. Marquee 1 9752 55A Ave. 604-427-3550

SURREY/LANGLEY

es ,0 0 m o 00 nh $3 w r To n d e u d e c

2 & 3 BEDROOM TOWNHOMES COMING THIS SPRING! Brixton is a collection of creatively designed and logically planned 2 & 3 bedroom townhomes. Each home reflects a sense of style as fresh and imaginative as your own. Centrally situated in the new family-friendly, neighbourhood of Panorama, Surrey. Homes range in size from 1202 - 1512 sq.ft. Located on the corner of 144th St & 60th Ave

VIP registrants will be among the first to be contacted to take advantage of pre-sale pricing and promotions.

Become a VIP Register Today

BrixtonTownhomes.com *Prices and incentives are subject to change or be withdrawn without notice. Sizes are approximate. Sales and Marketing by Fifth Avenue Real Estate Marketing Ltd. 604-583-2212. E.&O.E.

36 METRO VANCOUVER NEW HOME GUIDE | FEB 21 - MAR 7, 2014

SURREY/LANGLEY

0 00 S 0, DE NLY O $2 T RA IME ES PG ED T U IMIT

80 AVE 200 ST

192 ST

176 ST

19525 73rd avenue

73 AVE 195 ST

72 AVE

Presentation Center Open Daily 12-5PM (Except Fridays)

This is not an offering for sale. Any such offering must be made with a disclosure statement. Prices are subject to change. E.&.O.E.

38 METRO VANCOUVER NEW HOME GUIDE | FEB 21 - MAR 7, 2014

SURREY/LANGLEY

ENCLAVE AT BOUNDARY PARK

288 ENCLAVE HOME GUIDE 2-OL.indd 1

2013-12-19 8:28 PM 39 FEB 21 - MAR 7, 2014 | METRO VANCOUVER NEW HOME GUIDE

//inside mortgages

It is NOT all about Rate! Why a five-year term may not be right for you » by kris grasty

Kris Grasty

is a mortgage broker with Dominion Lending Centre’s Canadian Mortgage Experts and an active member of the MBABC. Kris maintains a strong focus on educating clients on all options. For more information visit his website at www.krisgrasty.ca or reach him at kris@cmexp.com.

“What is your best five-year rate?” This is a very familiar question for your friendly neighbourhood real estate broker. The interest in a five-year rate is often the result of advertising campaigns from large lenders that have brainwashed consumers for decades — though if you look or listen closely at the end of all of these ads, you will always notice that “some conditions apply”. The great thing about this question is that it opens the door for some valuable educational dialogue. Your broker may then ask you, “Why do you want a five-year term?” or “Well, that depends, what is your Credit Score?” The fact is that you may or may not qualify for the “best” rate depending on your credit score and your full income or debt positions. Without starting the application process and gathering all of the facts, quoting a rate is a useless proposition. When someone is looking for a five-year term, it is often due to simply not knowing that there are more options out there. Perhaps their plan is to own a condo for two or three years and then upgrade to a larger home when they start a family, or they are buying this home as an investment to renovate and flip in

When you add the penalty back into the mortgage balance and calculate backwards to see what the real interest rate paid was, you can see very easily how choosing the what you perceive as the “best rate” may not actually be to your benefit. 40 metro vancouver new home guide | feb 21 - mar 7, 2014

six months to a year. Now add in the fact that sometimes the cheapest rate product offering is often paired with fewer options in the way of prepayment privileges, portability and higher penalty calculations via IRD or percentage of loan amount. Different scenarios and diverse family or investment plans do not always lend themselves to a five-year product. Our lives are often changing and throwing us curve balls in time increments that are shorter than five-year periods. These life events are what cause approximately 60 per cent of people in five-year terms to break their mortgage at or near the 38-month mark. So six out of ten people that thought they were getting the best “A” rate end up paying unnecessary prepayment penalties in the thousands! Taking the best rate on a mortgage that does not suit your needs is not the best rate in the end. For example, a client takes out a mortgage today and breaks it at 38 months:

DETAILS

25 YEAR

REAL INTEREST RATE

4.61%

Mortgage Rate Term Balance at 38 months Penalty Real balance at 38 months

$300,000.00 3.59% 5 year $275,132.59 $10,000 $285,132.59

The penalties on a fixed mortgage such as this ranged from $7,000 to $12,000, so $10,000 is used for illustration. When you add the penalty back into the mortgage balance and calculate backwards to see what the real interest rate paid was, you can see very easily how choosing the what you perceive as the “best rate” may not actually be to your benefit. Surprisingly, people often know more about the features and options offered by the different cars they are shopping for. Call your mortgage broker! They are there to educate you so that you can make an informed decision: your best decision based on their experience and your circumstances.

REDWOOD AD - PREVIEW AD BC New Homes 7.25x9 OL.pdf

2014-01-31

12:01 PM

SURREY/LANGLEY

CMY

FEB 21 - MAR 7, 2014 | METRO VANCOUVER NEW HOME GUIDE 41

679,900

//in the news

BMO’s

Fourth Annual RRSP Study More Than a Third of Canadians Have Already Contributed to Their RRSP this Year

BMO Financial Group today announced the results of its fourth annual national Registered Retirement Savings Plan (RRSP) study, which showed that many Canadians are getting a head start on saving for retirement this year. More than one-third (35 per cent) of Canadians reported that they have already contributed to an RRSP before the March 3rd, 2014 deadline. This is up five per cent from this time last year.

“It’s reassuring to see that many Canadians are being proactive by contributing to their RRSPs well ahead of the deadline. However, according to Statistics Canada the total unused RRSP contribution amount is estimated to exceed $1 trillion by 2018.” — Caroline Dabu

44 metro vancouver new home guide | feb 21 - mar 7, 2014

Additionally, according to the study: » Sixty-four per cent of those who have already made a contribution have contributed at least $2,000 to their RRSP and 40 per cent have put in at least $5,000. » Forty-three per cent of Canadians reported that they will make a contribution to their RRSP by the March 3rd deadline. This is down from the 50 per cent who made a contribution last year. » A lmost two-thirds (64 per cent) of Canadians have an RRSP, compared to 67 per cent this time last year. »O ne-third reported that they usually contribute the maximum amount to their RRSPs. » Last year Canadians contributed an average of $3,544 to their RRSPs. “It’s reassuring to see that many Canadians are being proactive by contributing to their RRSPs well ahead of the deadline. However, according to Statistics Canada the total unused RRSP contribution amount is estimated to exceed $1 trillion by 2018,” says Caroline Dabu, vice president and head, BMO Wealth Planning Group. “So we encourage everyone to contribute and contribute as early as possible to avoid the difficulties of having to come up with a large lump sum at the last minute.” Dabu adds that using a Continuous Savings Plan (CSP) to make smaller and regular RRSP contributions throughout the year can help alleviate some stress leading up to the deadline. A CSP regularly and automatically withdraws a specific amount of money from an individual’s bank account and invests it directly into his or her RRSP. It eases the cost of investing away from one annual deposit and helps increase savings.

RRSP Investing Hurdles The study also examined the reasons why Canadians are not planning to make a contribution to an RRSP this year. These include: » Not having enough money to make a contribution (37 per cent) » Having other expenses which take precedence (33 per cent) » Prioritizing other investments (11 per cent) “It can be difficult to balance all of your financial priorities, whether it is paying down your mortgage, saving for your child’s education or putting money aside for your retirement,” says Dabu. “A financial plan can help you map out all of your financial commitments to help you prioritize. Also, a financial professional can help you understand your options, offer checkpoints to follow your progress, adjust your plan as your circumstances change and work with you to ensure you stay on track for success.” Regional Breakdown:

Region National Atlantic Quebec Ontario Prairies Alberta B.C.

% who have already made a contribution before the 2013 deadline

% who expect to contribute to an RRSP before the 2013 deadline

35 30 29 41 41 34 31

43 35 41 46 49 45 40

% with an RRSP 64 60 53 68 81 65 69

Average amount contributed last year ($) 3,544 3,955 3,049 3,592 3,811 4,462 3,173

The survey was conducted by Pollara with an online sample of 1,003 Canadians 18 years of age and over, between November 18th and 22nd, 2013.

Source: BMO

feb 21 - mar 7, 2014 | metro vancouver new home guide 45

SURREY/LANGLEY

VISIT OUR BRAND NEW SHOWHOME TODAY!

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46 METRO VANCOUVER NEW HOME GUIDE | FEB 21 - MAR 7, 2014

SURREY/LANGLEY

BE THE

FIRST

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196 ST

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FEB 21 - MAR 7, 2014 | METRO VANCOUVER NEW HOME GUIDE 47

//Buyer profile

Kirsten Discovers Sun at 72

A New Life Story Begins

Kirsten and her best buddy, Mac, get ready to celebrate moving day.

» by Susan m boyce

When Kirsten and her best buddy, Mac, first visited Sun at 72 it wasn’t even on their home-hunting radar.

Well, not for Mac anyway — after all, a border collie/black lab’s paws aren’t designed for small electronics and he wasn’t actually able to go through the display home. But, like his owner, he was immediately enthused by the big back yard, the park right across the street, and the quiet location set well back from the road. It was a good start. Opening Chapter “I’m downsizing from a four-level, threebedroom house in Chilliwack where I raised my kids, so even though I’d been editing my stuff for six months, I wanted something spacious — I figured at least 2,000 square feet,” Kirsten admits. She visited more than 30 townhomes. None worked. Then, one afternoon after she’d looked at yet another disappointing floorplan, her realtor suggested checking out Sun at 72 “just for the heck of it” — even though the square footage was just shy of 1,600. “I walked through every room and immediately found myself saying ‘yes, I can

live here.’ This home just called to me,” Kirsten says. “I love the whole West Coast contemporary design — it’s very creative and way ahead of the curve. And when I researched Solterra, the builder, I was even more impressed.” Bottom Line Advantage “ I walked through every room Saying yes to Sun at 72’s financial advantages was easy too. “This home and immediately found myself feels more open and spacious than most saying ‘yes, I can live here.’ of the homes with 2,100 to 2,220 square feet that I’d been looking at, and it’s This home just called to me,” $80,000 cheaper,” Kirsten explains. Kirsten says. “Plus Surrey’s property taxes are lower than Langley which was the other area I’d been considering.” As a final bonus, she says having access to the Park’n’Ride just seven minutes away at Walnut Grove will make her weekday commute to Vancouver easier and cheaper. Looking Ahead “I’ve come to the realization that I don’t want to move into someone else’s home — I want something that’s brand new. I’m so excited about this new chapter in my life. It’s going to be a great transition and a great investment to be living in a townhouse, by myself.” Mac gives her one of those looks that any dog lover understands, and Kirsten laughs. “Well not entirely by myself. I can’t wait for March so I can move in and start decorating. I’m getting all new furniture and I’m going to spend a lot of time accessorizing.” Sun at 72 is located at 19477 – 72A Ave. in Surrey. For more information, visit sun72.ca.

48 metro vancouver new home guide | feb 21 - mar 7, 2014

SURREY/LANGLEY

Consumer Protection for Homebuyers Buying or building your own home? Find out about your rights, obligations and information that can help you make a more informed purchasing decision. Visit the B.C. government’s Homeowner Protection Office (HPO) website for free consumer information.

Services • New Homes Registry – find out if any home registered with the HPO: • can be legally offered for sale • has a policy of home warranty insurance • is built by a Licensed Residential Builder or an owner builder • Registry of Licensed Residential Builders

Resources • Residential Construction Performance Guide – know when to file a home warranty insurance claim • Buying a Home in British Columbia Guide • Guide to Home Warranty Insurance in British Columbia • Maintenance Matters bulletins and videos • Subscribe to consumer protection publications

Five Ways to Get the Most Out of Your Home Warranty Insurance Buyers of new homes in B.C. are protected by Canada’s strongest construction defect insurance. Those who learn as much as they can about their home warranty insurance will get the most out of their coverage. 1. Make note of each coverage expiry date. The home warranty insurance provided on new single-family and multi-family homes built for sale in B.C. protects against different defects for specific periods of time, including 2 years on labour and materials (some limits apply), 5 years on the building envelope (including water penetration) and 10 years on the structure. Review your policy for details. 2. Know what’s covered and what isn’t. Make sure you understand the extent and limitations of your coverage by reading through your insurance documents. You can also search the HPO’s free online Residential Construction Performance Guide. 3. Make a claim. If you need to make a claim for defects not otherwise taken care of by your builder, be sure to send details in writing to your warranty provider prior to the expiry of coverage. 4. Maintain your home. Maintain your home to protect your coverage, and if you receive a maintenance manual for your home, read it and follow it. 5. Learn more. Check out the Homeowner Protection Office’s Guide to Home Warranty Insurance in British Columbia, a free download from www.hpo.bc.ca.

www.hpo.bc.ca

Toll-free: 1-800-407-7757 Email: hpo@hpo.bc.ca

FEB 21 - MAR 7, 2014 | METRO VANCOUVER NEW HOME GUIDE 49

12-026 / proof 2 / August 8,2012 Publication: New Home Guide Homeowner Protection Office

7.25” wide x 9” high (no bleeds), CMYK, 300 dpi upload to: https://wall2wallmedia.sharefile.com Login email: clientBC@upload.ca/Password: guest123

SURREY/LANGLEY

N ET T GS N

O * LY

atypical townhome. Nestled within a lush 3.3 acre greenspace 2 & 3 Bedroom townhomes from $334,900

64 AVE

Eton Sales Centre #3 â&#x20AC;&#x201C; 14888 62nd Ave, Panorama, Surrey

62 AVE

60 AVE 152 ST

148 ST

146 ST

144 ST

Panorama neighbourhood

HW Y 10

Move-in today! 604.953.0833 { info@etonliving.com } etonliving.com

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50 METRO VANCOUVER NEW HOME GUIDE | FEB 21 - MAR 7, 2014

SURREY/LANGLEY

k le oc Sa l r ! B al s fo day n Fi me tur a Ho is S f o th

SURREY’S FASTEST SELLING TOWNHOME COMMUNITY

TO MOVE IN HERE, YOU’LL HAVE TO MOVE FAST. Fleetwood Neighbourhood 3 & 4 Bedroom Townhomes 1325 – 1780 sq.ft. Priced from only $339,900

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88 AVE A

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84 AVE

164 ST

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84 AVE

80 AVE

FAIRBORNE.COM Silverwood is developed by Fairborne Fleetwood Homes Ltd. Pricing is subject to change without notice. E.&O.E.

FEB 21 - MAR 7, 2014 | METRO VANCOUVER NEW HOME GUIDE 51

//IN THE NEWS

CREA:

Canadian home sales moderate further in December

According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity posted its third consecutive month-over-month decline in December 2013. The number of home sales processed through the MLS Systems of Canadian real estate Boards and Associations and other co-operative listing systems was down 1.8 per cent on a month-over-month basis in December 2013, marking the third straight monthly decline. Activity now stands 5.2 per cent below the peak reached in September 2013. Sales were down on a month-over-month basis in about 60 per cent of all local markets in December, with declines in Calgary, Edmonton and Greater Toronto more than offsetting gains in Greater Vancouver and the Fraser Valley, as well as a sizeable rebound from a quiet November in St. Catherines. “Activity has gradually eased back from stronger than expected levels last summer and is now roughly in line with the ten year monthly average,” says CREA President Laura Leyser. “We’ll likely continue getting mixed signals in the months ahead, with positive year-over-year comparisons for sales masking the recent moderation in the monthly sales trend. As always, local housing 52 metro vancouver new home guide | feb 21 - mar 7, 2014

›› National home sales fell 1.8 per cent from November to December. ›› Actual (not seasonally adjusted) activity stood 12.9 per cent above weak December 2012 levels. ›› The number of newly listed homes dropped 4.3 per cent from November to December. ›› The Canadian housing market remains in balanced territory. ›› The national average sale price rose 10.4 per cent on a year-overyear basis in December. ›› The MLS Home Price Index (HPI) rose 4.3 per cent year-over-year in December.

The actual (not seasonally adjusted) national average price for homes sold in December 2013 was $389,119, an increase of 10.4 per cent from the same month last year.

market trends can be very different than national ones, so your REALTOR remains your best bet for understanding how the market is shaping up where you live or might like to.” Actual (not seasonally adjusted) activity was up 12.9 per cent from December 2012. Year-over-year increases were posted in about 70 per cent of all local markets, led by gains in Greater Vancouver, the Fraser Valley, Calgary, Edmonton, Greater Toronto and Hamilton-Burlington. A total of 457,893 homes traded hands via MLS Systems of Canadian real estate Boards and Associations and other cooperative listing systems across the country in 2013. This represents an increase of 0.8 per cent compared to 2012. “National sales activity has softened in recent months and is expected in 2014 to remain down from levels reached last September,” says CREA Chief Economist Gregory Klump. “That said, absent further mortgage rule changes, sales in 2014 may surpass the annual total for 2013 if demand holds steady near current levels as strengthening economic and better job growth offset the impact of further expected marginal mortgage interest rate increases.” The number of newly listed homes fell 4.3 per cent on a month-over-month basis in December. New supply was down in two-thirds of all local markets, led by declines in Calgary, Greater Toronto and Hamilton-Burlington. With new listings having eased by more than sales, the national sales-to-new listings ratio climbed to 55 per cent in December compared to 53.6 per cent in November. This indicates a slightly firmer housing market but remains well within balanced territory marked by the range from 40 to 60 per cent, as has been the case since early 2010. Slightly more than half of all local markets posted a sales-to-new listings ratio in this range. The number of months of inventory is another important measure of balance between housing supply and demand. It represents the number of months it would take to completely liquidate current inventories at the current rate of sales activity. There were 6.2 months of inventory at the national level at the end of December, up from 6.1 months at the end of November. As

with the sales-to-new listings ratio, the current level of the months of inventory measure indicates that the Canadian housing market remains well balanced. The actual (not seasonally adjusted) national average price for homes sold in December 2013 was $389,119, an increase of 10.4 per cent from the same month last year. The size of year-over-year average price gains continues to reflect the decline in sales activity last year among some of Canada’s most active and expensive markets, which dropped the national average at that time. Removing Greater Vancouver and Greater Toronto from national average price calculations cuts the year-over-year increase to 4.6 per cent. The MLS Home Price Index (MLS HPI) provides a better gauge of price trends because it is not affected by changes in the mix of sales activity the way that average price is. The Aggregate Composite MLS HPI rose 4.31 per cent on a year-over-year basis in December 2013, up from a 4.11 per cent gain in November. Year-over-year price growth picked up among all property types tracked by the index with the exception of townhouse/row units where price growth was unchanged from November. Year-over-year price gains were led by one-storey single family homes (up 5.07 per cent). This was closely followed by twostorey single family homes (up 4.93 per cent), townhouse/row units (up 3.13 per cent) and apartment units (up 2.87 per cent). Year-over-year price growth in the MLS HPI was mixed across housing markets tracked by the index, led by Calgary (up 8.74 per cent) and Greater Toronto (up 6.31 per cent). Greater Vancouver recorded a second consecutive year-over-year increase (up 2.13 per cent) following more than a year of declines between late 2012 and late 2013. Source: Canadian Real Estate Association feb 21 - mar 7, 2014 | metro vancouver new home guide 53

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56 METRO VANCOUVER NEW HOME GUIDE | FEB 21 - MAR 7, 2014

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FEB 21 - MAR 7, 2014 | METRO VANCOUVER NEW HOME GUIDE 57

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FEB 21 - MAR 7, 2014 | METRO VANCOUVER NEW HOME GUIDE 59

//THE TAX MAN

The Smith Manoeuvre:

deducting mortgage interest » by George E. Dube

One of the largest expenses we have tends to be the mortgage on our home. Following traditional rules, we are limited to deducting, at best, a small percentage of the interest where we use a home office for business purposes. However, using non-traditional planning, we are able to deduct potentially 100 per cent of the interest costs. Your tax savings will vary based on where you live in Canada, your income

A variety of versions of the plan exist, and vary in aggressiveness and implementation to suit your needs and comfort.

60 metro vancouver new home guide | feb 21 - mar 7, 2014

level and the amount of interest you pay. As a quick example, though, with a mortgage of $200,000 at 4.5 per cent, your tax savings could be approximately $3,000 per year. While this may not by itself create financial freedom, imagine receiving these savings year after year – with minimal effort required. Imagine the impact of a higher interest rate or larger mortgage. A popular nickname for describing some of the possible techniques is the “Smith Manouevre,” coined by Frasor Smith. A variety of versions of the plan exist, and vary in aggressiveness and implementation to suit your needs and comfort. With a Supreme Court decision related in part to questions surrounding the appropriateness of interest deduction plans, tax advisors have largely been given the green light to help clients restructure their affairs in an optimal fashion. In its simplest form, these interest deductibility techniques allow homeowners the ability to convert the non-deductible portion of the interest on their mortgage to fully deductible over a period of time. The period is typically several years, however, your financial situation and aggressiveness may dramatically decrease this time. A variety of mortgage products provide the ability to divide your mortgage into at least two segments, which allows you to

track the interest expense on these segments separately. Your total mortgage will typically be set at 75 to 80 per cent of the value of your home. If you are permitted a total mortgage of $200,000 on your home, you may start with the “bad” portion (non-deductible) of the mortgage at this $200,000 and the “good” portion (deductible) of the mortgage at zero. As you make payments on the mortgage, your principal on the bad mortgage will decrease, leaving you additional room to borrow on the good debt. In other words, your total mortgage may still be $200,000, however, it is divided between good and bad debt.

Talk to your tax, mortgage and investment advisors to determine whether such a plan can work for you and that you are comfortable with the full implications. Also, work closely with your mortgage advisor as you pay close attention to the features of the mortgage product that you use to ensure you have the required flexibility to accomplish your goals.

So, what do you do with this good debt? You invest. Traditionally, this was thought of as an excellent vehicle to acquire mutual funds and similar investments. However, this may be a great opportunity for you to go beyond that and invest in your business. You may be able to shorten the conversion time of your bad debt where, for example, you have non-registered financial assets that can be sold and the proceeds used to pay down some bad debt. Tax refunds, inheritances, unexpected sources of funds, extra mortgage payments are further ways of speeding up the conversion. While restructuring must be done properly, your efforts will be rewarded. Talk to your tax, mortgage and investment advisors to determine whether such a plan can work for you and that you are comfortable with the full implications. Also, work closely with your mortgage advisor as you pay close attention to the features of the mortgage product that you use to ensure you have the required flexibility to accomplish your goals. There are significant differences between the products beyond the interest rates which command your attention. This article is brief in nature and omits many important details that may dramatically change how financial plans may affect your particular situation. This should not be considered tax, investment, business or similar advice. Before implementing any plans, always discuss in full with your tax advisor and other relevant advisors.

George E. Dube,

CA, CPA, LPA, is a veteran real estate investor and Chartered Accountant whose practice with his partner, Peter Cuttini, Dube & Cuttini Chartered Accountants LLP, focuses on providing the knowledge and tools clients from across the country and around the world. George is a frequent guest speaker, addressing a variety of tax and accounting topics, he has written and contributed to articles in national and regional publications and co-authored two books: 81 Financial and Tax Tips for the Canadian Real Estate Investor: Expert Money-Saving Advice on Accounting and Tax Planning and Legal, Tax & Accounting Strategies for the Canadian Real Estate Investor. He also developed the accountant in-a-box program for real estate investors. George is a member of the Real Estate Investment Network (REIN) Faculty. georgedube@dubecuttini.com dubecuttini.com Twitter @dubecuttini.com 1.877.475.3823

feb 21 - mar 7, 2014 | metro vancouver new home guide 61

RICHMOND / DELTA / LADNER / TSAWWASSEN Vancouver International Airport (YVR)

Rive r Dr

ay chie W Grant McCona

Richmond Centre

No 6 Rd No 6 Rd

Blundell Rd

No 5 Rd

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No 3 Rd

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Gilbert Rd

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62 METRO VANCOUVER NEW HOME GUIDE | FEB 21 - MAR 7, 2014

28th Ave 56th St

RD E NO

A1. Remy

Gr ov eR oa d

Dr Arthur

113 St

RICHMOND

Boundary Bay Regional Park

Be ac h

Cemetery

48th Ave

47th A Ave 47 e

Way son Jack

8A Ave

W r Rd Rive

56 St

8A Ave South Delta Park

74 Ave

55 St

75A Ave

53A St

119A St

75 Ave 115 St

72 AVE

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116 St

Monroe Dr

D ore rym Bar

on ica

Delta Nature Reserve

Beach Grove Golf Course

12 Ave

78B Ave

112 St

80 Ave

Blv d

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82 Ave

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84 Ave

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Grauer Park

53rd St

RD R

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Tsawwassen Golf Club

118 St Rd English Bluff

NORDEL WAY

HW ACIS ANN

Sa nt a

TSAWWASSEN

Riv er Rd

No 3 Rd

52 St

116 St

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112 ST

RI VE

Deas Island Regional Park Finn Rd

NORTH DELTA

i ve

96 Ave

ilts hir e

Rd er Riv

Steveston Hwy

Moncton St

e as

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No 1 Rd

Westminster Hwy

Steveston Hwy

Garry Point Park

Granville Ave

Blundell Rd

Francis Rd

Cambie Rd

RICHMOND HWY

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//the mortgage minute

The equity solution How Canadians can cash in without cashing out » by peter kinch You hear a lot of talk these days – from media and government – about debt and how the average Canadian has too much of it. Although it may well be true that many Canadians need to rein in their spending habits, there is a flip side that doesn’t get talked about enough: a record number of Canadian homeowners are sitting on an unprecedented amount of home equity. Given today’s economic environment, the mere mention of spending home equity is considered taboo – especially in light of the recent sub-prime mortgage crisis in the United States. None of that, however, changes a few fundamental facts: 1. In spite of all the talk about debt, many Canadians are sitting on an unprecedented amount of home equity. 2. A large number of those Canadians sitting on their latent equity have two pressing concerns: a. Will I have enough money when I retire? b. How will my children ever be able to afford to buy their own house?

Will I have enough money when I retire?

This scenario presents an interesting dilemma. The proverbial elephant in the room is home equity. Could it be a solution to the most pressing concerns of Canadians as they near their retirement years – or is it part of the problem? The pendulum has swung quite a bit on this topic over the past five years. We’ve gone from the free-wheeling days leading up to 2008, where those investing in real estate thought they could do no wrong, to an about-face, where spending home equity was akin to an evil deed. And, like most things in life, the truth lies somewhere in the middle.

First and foremost, we need to address some of the issues that face most Canadians today: • It is true that many Canadians are carrying too much debt and need to find a way to spend less than they make. • It is also true that many Canadians are sitting on an unprecedented amount of home equity. • Yet a record number of Canadians are also concerned about their ability to have enough money to retire. • Few working Canadians have faith in their pensions. • A record number of Canadians are now self-employed and have no pension plan. • Few working Canadians are confident in the ability for CPP and OAP to take care of them when they retire. • Canadians are living longer than ever. Add this up and it begs the question: Can home equity be part of the solution? The concept of using your home equity to invest has fallen out of vogue in the past few years, but in many respects, we have thrown the baby out with the bathwater. Sure, the idea of spending your home equity to buy investments equates to getting further in debt – but perhaps we need to define debt. Is it possible to have good debt and bad debt? Bad debt is easy to define – any debt that is used to purchase an item that adds no value to your bottom line (lifestyle expenses such as a car, boat or vacation). Good debt is any debt that is used to increase your net worth (a house, a rental property or other investment intended to make money). When you use credit to subsidize lifestyle, you are simply spending beyond your means and arguably buying items that may not fit into your family budget. The only return on this type of expenditure is immediate personal gratification. However, the potential long-term consequences of this type of expenditure could be increased debt without the ability to pay it off. This is exactly the type of debt the government is concerned about. They don’t want Canadians to look at their houses as personal ATMs – especially at a time when interest rates are at record lows. The real concern is what would happen if a great number of Canadians were to access home equity, go further in debt at a time of low interest rates, only to see those rates increase. If the only thing those individuals had to show for their debt were depreciating consumer goods and a YouTube video of their last vacation, then the government’s concerns would be completely justified. In fact, you should be very cautious of increasing home or consumer debt in today’s economic environment. Interest rates have nowhere to go but up, and any use of home equity should only be undertaken after an analysis of both the long-term benefits and consequences. However, this example should not be confused with the ability to utilize home equity to increase personal wealth, address pension concerns or assist adult children with getting started on their road to homeownership. The key is to analyze the long-term benefits versus potential consequences. It is entirely feasible to utilize home equity in such a way as to improve your personal financial situation over the long-term – even if interest rates were to rise. This process would involve increasing personal debt initially but only through the acquisition of an asset that would create a long-term financial benefit. An example of this would be to access a portion of your home equity for the down payment on the purchase of a rental property that, over time, would shift from a deficit to an asset that could provide a supplement to your pension plan. Many people reading this might still say, “There is no way I’m touching my home equity.” I completely understand that emotion, but to that I would ask: Are you 100 per cent comfortable that your current pension plan is sufficient and that you will not have any need to supplement it at

the point of retirement in order to live the lifestyle you desire? If the answer is yes, then by all means, you should not, nor do you have to, touch your home equity. Your focus would be to stay the current course. However, If the answer is no, then it begs another question: What is your plan to resolve this? A significant number of Canadians fall into the second category and fit the following description: “I know that our current pension plan is insufficient to accomplish our retirement goals and I know that we are sitting on a lot of untapped equity that could be used to purchase some investments. But I’m simply not comfortable with risking any of that equity in an investment venture. What if we ended up losing it all? Then where would we be?” You would be shocked at how common this scenario is and how often that conversation is played out at dinner tables across this country. There are three major considerations: 1. The need to address retirement goals 2. The realization that equity could be the solution 3. The fear attached to taking on more debt As you explore your own personal situation, consider these factors, and how equity might be part of the solution.

Peter Kinch

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

feb 21 - mar 7, 2014 | metro vancouver new home guide 69

Park w

Blvd

eau Plat

COQUITLAM / PORT COQUITLAM / PORT MOODY

Victoria Dr

Lincoln Ave

F 3479 Galloway Ave. 778-285-6299

A2. Secret Ridge

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Victoria Drive & Burke Mtn St. 604-288-8909

Kin gs wa yA ve

Dominion Ave B2

sy St

Dewdney Trunk Rd

RY MA

A4. Riley

1320 Riley St. 604-468-7688

A5. Bridlewood

3470 Highland Dr 604-871-4194

SS PA BY L HIL

PORT COQUITLAM

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B2. Fremont Blue

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Ford Rd

Dewdney Trunk Rd

HW Y

Meadow Gardens Golf Course

Harris Rd

LO UG HE ED

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Shau g h ne s

Mariner Way

Daw es H ill Rd

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Hammond Rd

Pitt Meadows Airport

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Prairie Ave

Mundy Park

Cedar Dr

Austin Ave

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Coast Meridian Rd

Como Lake Ave

Smith Ave

ia or ct Vi

The r

Ottawa St

Dav id A ve

Johnson St

BA R N

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FEB 21 - MAR 7, 2014 | METRO VANCOUVER NEW HOME GUIDE 71

//INSURANCE NEEDS

HOW TO ESTIMATE

home insurance premiums like all insurance premiums, how much you pay for home insurance depends on a number of factors related to risk. Insurers analyze these risks and figure out how likely it is that you – or a group of people with the same set of circumstances – will make a claim, and how much that claim will cost. thEsE fActors tyPicAlly AffEct whAt you PAy for homE insurAncE: » whErE you livE Insurers keep records about such items as the number, type and cost of claims by neighbourhood. They can tell from past experience what the circumstances are in your neighbourhood, and how likely it is that you will have to make a claim. For example, if you live in an area where most people commute to work and homes are left unoccupied during the day, the statistics may show your neighbourhood has more break-ins. The cost of home insurance, therefore, varies from neighbourhood to neighbourhood, from city to countryside and is based on knowledge and experience.

» Proximity to wAtEr Insurers are concerned about fi re and will look at how far your home is from a source of water (fi re hydrant, fi re station). If you live in an urban area, this is generally not a problem. If you live in the country and the distance is great, however, this will influence the cost of your home insurance. The sooner a potential fi re can be put out, the lower the cost of restoring your home. » rEPlAcEmEnt cost The factor that will make the biggest difference in the cost of your home insurance is simply the size and composition of your house – as well as your contents. The larger the home and the more contents you have, the more it will cost to replace. In addition to the square footage, insurers take into account such matters as the quality of construction used to build your house, as that can vary greatly from home to home. » hEAting Not usually an issue with new homes, oil tanks have the potential for causing costly environmental hazards, so your insurance representative will ask questions about the age and condition of your tank. There is far less risk with forcedair gas furnaces or electric heat, so you may pay more for your home insurance if your home is heated by oil.

» Electricity There are several factors concerning electricity. Do you have breakers or fuses? What is the flow of electricity coming into your house? And what kind of wiring do you have? Insurers know from experience that breakers pose less risk than fuses and that a minimum of 100-amp service is better than a lower level of service, as a lower amp can lead to overloading and fire. » Pipes Galvanized or lead piping usually means that the plumbing is older, and older plumbing is more likely to crack, leak or run into other problems. Insurance companies generally prefer homes where the plumbing is made of copper or plastic. » Age of roof Not usually an issue with new homes, insurers generally prefer a roof that has been updated within the last 20 years. Some policies will pay only depreciated values, as low as 25 per cent of the replacement cost, for damaged roofs that are near the end of their designated service life. » Other uses of your home Insurers will want to know if you have built or are planning to build a secondary rental suite in your home; begin operating a business there; or make any other significant alterations to the structure or the way your home is used. » Other factors Insurers will ask if you have a security alarm and a fire alarm, and whether they are monitored by an outside service. They will also want to know if you have a swimming pool and other structures on your property, such as pool houses or storage sheds, that are worth more than 10 per cent of the insured value of your home. » Basic or full coverage Once all of the above is taken into consideration, you can choose the types of coverage you’d like – which will also influence the cost you pay. While there

are government regulations dictating how much insurance drivers must have, there are no such laws when it comes to home insurance. The only requirement may be one set by your bank or mortgage holder. From there, it’s up to you to decide whether you prefer basic or more comprehensive coverage. And this is something your independent insurance representative can help you with. The following factors typically do not affect what you pay for home insurance: » Gas versus electric appliances The types of appliances in your home do not affect the cost of your home insurance. » Brick exterior versus aluminum siding Most insurance companies do not use type of construction as a rating factor when calculating home insurance premiums. However, construction type is used when calculating the building replacement cost (what it would cost to rebuild the dwelling with materials of like kind and quality, if it were destroyed).

Information provided by the Insurance Bureau of Canada. For more information, visit ibc.ca feb 21 - mar 7, 2014 | metro vancouver new home guide 73

PA S

//style file

5 Ways to

Brighten Up a Room » by Yanic Simard

“Artificial” Lighting I’ve said it before and I’ll say it again; It’s all in the lighting. Of course this might seem like the most obvious solution, but many people go about it in the wrong way. When choosing a ceiling light, be sure to choose something that directs the light downwards or outwards, not upwards. If the lights directed towards the ceiling, it won’t do you much good. One of my favourite fixtures is the Medusa Chandelier; with it’s 30 exposed light bulbs, being short of lighting should never be an issue. It’s also 31.5 inches in diameter, covering a wide array of space. When choosing a table or floor lamp with a shade, choose a light-coloured translucent shade that allows the light to shine through. If you’re blocking the light you need with a solid shade, what’s really the point of having it? Keep the base and swap the shade!

Tips: -Use sheer drapery fabric over what windows you do have -Increase the wattage of your light bulbs! -Have 2-3 watts of light per square foot -Space pot lights 4-6 feet apart

Brightening up a room that doesn’t have a lot of natural light can be both challenging and frustrating. If you haven’t got the option of knocking down or opening up walls, or adding windows, then I’ve got 5 different suggestions that you may find very useful..

76 metro vancouver new home guide | feb 21 - mar 7, 2014

Paint I asked my fans on Facebook and Twitter if they thought that light-coloured paint would lighten up a dark room. 99% of them said yes, meaning 99% of them were wrong! Paint can visually brighten up a room (which is what our goal is), but not

lighten up a room. You still won’t be able to read a book in that same room with no light regardless of if your walls are deep blue or bright white! Believe it or not, a mid-tone beige colour is the best choice to keep the room feeling bright! Paint Colour Recommendation: Benjamin Moore’s CC-396, “Stone Castle”.

Wallpaper Wallpaper can completely warm up and brighten the look of a room. If you’re going to take this route, choose a wallpaper that has an element of metallic in it so that it can reflect the light from it. Wallpaper Recommendation: Graham & Brown’s Kelly Hoppen “Hicks” Pattern, Colour: Taupe/Charcoal/Silver. Tip: If you have a window in the space, it’s ideal that you’d install the wallpaper at the wall directly across from it.

Reflective Finishes Mirrors, chrome, glass and metallic are all designer favourite finishes to work with in a dull and dark room. Keep what light you do have bouncing around off of these pieces throughout the day and night.

Tip: Create a focal wall with 3 large scale mirrors that go almost floor to ceiling – this will make the room feel much brighter and also much bigger

Furniture Scale The size of the furniture plays a big part in the illusion of adding brightness to a room. If you have heavy, dark, chunky furniture, then of course the room will feel that way. If you have light, open, clean-line furniture, then the room will feel much more airy and open. Typically homeowners purchase their furniture in a ‘set’. If you’re one of those people, try and replace the furniture that’s on the heavier side one piece at a time. Even just swapping one bulky black leather club chair for a slightly smaller lightcoloured fabric upholstered slipper chair will make the world of a difference – you’ll see. Tip: If you have too much furniture or too many pieces in a room, it can make the feel more crowded and dark. Edit and eliminate what you can on your road to a brighter space!

Yanic Simard

is the Design Editor of New Condo Guide and principal designer of the Toronto Interior Design Group. Specializing in residential and commercial projects, Yanic often applies his signature high/low and old/new combination design techniques in developing unique interiors. Simard has appeared as a regular guest expert on Citytv’s CityLine. For more information visit tidg.ca

feb 21 - mar 7, 2014 | metro vancouver new home guide 77

BURNABY / NEW WESTMINSTER NEWWESTMINSTER

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Sales Centre #101 - 618 Langside Ave. 604-939-8808

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1710 Gilmore Ave 604-291-9130

78 METRO VANCOUVER NEW HOME GUIDE | FEB 21 - MAR 7, 2014

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FEB 21 - MAR 7, 2014 | METRO VANCOUVER NEW HOME GUIDE 79

//GEORGIE AWARDS

the 22nd annual GeOrGie aWards

Where Inspiration Comes Home » by SUSAN M BOYCE

Over 2,000 square feet of outdoor design garnered The “Dwell” on Despard garnered Urban Core Ventures a gold in Best Outdoor Living Space. 80 metro vancouver new home guide | feb 21 - mar 7, 2014

Compact sophistication at the Recycled Shipping Container Housing Development by Atira Women’s Resource Society, winner of Best Innovative Feature and Best Environmental Initiative.

owered by passion, fueled by innovation and driven by commitment to excellence, the 22nd Annual Georgie Awards took place on February 1st in Vancouver. As always, it was an exuberant evening fi lled with the glitz and glam that’s a true celebration of the best of the best in BC’s dynamic residential building industry. “Tonight we honour the CHBA-BC members who build, renovate, develop, design, sell, decorate, landscape and market the best of the best projects in all of British Columbia,” said Rob Capar, president of the Canadian Home Builders’ Association of BC (CHBA-BC). “Finalists and winners exemplify the high caliber of expertise and hard work associated with our member companies, as well as the fact that BC is a true leader of innovative design and quality construction.”

Dramatic curb appeal and community ambiance garnered gold as Best Townhouse Development for Lonsdale Contemporary by Alchemy Construction.

CelebratinG innOvatiOn The evening began with a surprise win in the Best Townhouse Development category for Lonsdale Contemporary, a four-unit development by Alchemy Construction. Already zoned for duplexes, Alchemy combined two single-family lots, then shifted each of the two new front-to-back duplex units oﬀ-centre to create an unanticipated, open courtyard that’s already become a social hub of this new mini-neighbourhood.

“Finalists and winners exemplify the fact that BC is a true leader of innovative design and quality construction.” Rob Capar, CHBA-BC president

Inside, open floorplans feature living room bump-outs for extra space and natural light, basements with wider-than-average terraces surrounded by greenery and enhanced aﬀordability that tackles aﬀordability and appeals to a diverse range of buyers. “There’s already a great sense of community developing here,” says Mark Isaac, president. “But yes, it was challenging to take what are technically duplexes and treat them as townhomes.” Top honours for Custom Home Builder of the Year went to Clay Construction. Owner Larry Clay credits his company’s tech-savvy, proprietary business systems for managing every aspect of construction, a customer-centric approach to design and building and his personal commitment to over-delivery as significant factors in the award. The company’s innovative transformation of a single, 50-foot wide Kerrisdale lot into two 25-foot lots, each now home to a feb 21 - mar 7, 2014 | metro vancouver new home guide 81

2,000-square-foot single-family dwelling may well have been the tipping point in this intense competition. Priced at less than $2 million each, a figure almost unheard of in this venerable Vancouver neighbourhood, where even a teardown frequently comes with a price tag of $3 million or more, these homes are showcases of creative design. One is über modern, boasting industrial loft features like floating tread staircase with steel and glass balustrade, angular kitchen and totally minimalist ambiance. The other feels like a reinterpretation of the classic French country manor: antique white kitchen cabinetry, coved ceilings and a sunny, 300-square-foot attic office. “It’s gratifying to receive acknowledgement that even a small builder can compete, and win, at this level,” Clay says.

Customer Savvy Longtime Georgie heavy-weight, Portrait Homes took top honours in five categories including a Grand Georgie for Hampstead at Silver Ridge as Residential Community of the Year and Single-Family Production Home Builder of the Year. But, as always, it was the two highly coveted Customer Choice Awards Powered by Avid™ — in both multi-family and singlefamily categories — that Portrait principal Rob Grimm was most delighted by. “Every member of our team is passionate about customer service… about looking after our homeowners the way they deserve to be treated.” He recounts a heartwarming story about a young homeowner who had bought in one of Silver Ridge’s earliest phases and called one blisteringly cold Sunday to ask for the name of a good furnace servicing

Clay Contraction’s reinterpretation of the classic French country manor located in Kerrisdale.

Innovative, low impact densification helped Clay Construction win Custom Home Builder of the Year.

company as she had no heat. “Her furnace was long beyond the warranty period, but Wayne, our service manager, immediately popped by and managed to get it working for the weekend — saving her the cost and hassle of an emergency call out. It wasn’t until several weeks later that I found out she’d just come home from the hospital with a newborn baby. That was a good day.”

Celebrate the Outdoors Already recipient of six Vancouver Island CARE Awards, Urban Core Ventures wowed the judges for the Best Outdoor Living Space category with The “Dwell” on Despard — a 5,000-square-foot, singe-family residence featuring a modernist, linear design and over 2000 square feet of outdoor areas that include a resort-style infinity pool and hot tub.

Environmental Honours After striking gold in the Non-Profit Sector category at the Real Estate Foundation of BC’s (REFCA) prestigious Land Awards last 82 metro vancouver new home guide | feb 21 - mar 7, 2014

Living room at Portrait Homes’ Hampstead, winner of Residential Community of the Year

“Every member of our team is passionate about customer service… about looking after our homeowners the way they deserve to be treated.” Rob Grimm, Portrait Homes Hampstead, the latest phase of Silver Ridge by Portrait Homes, features exceptional environmental savvy.

year, the Recycled Shipping Container Housing Development by Atira Women’s Resource Society garnered gold for Best Innovative Feature (New or Renovation) and Best Environmental Initiative. The project transformed a smaller-than-average, single-family lot in Downtown Eastside Vancouver into 12 stylish, studio suites for women on fixed incomes. Canada’s first multi-unit housing development designed and built from recycled shipping containers (it’s estimated there are 24 million empty containers worldwide), the project was completed in half the time and for approximately 50 per cent of hard construction costs that traditional construction methods would require. “This small budget, local project for a marginalized portion of the community showcased what can be done when public, private and non-profit sectors partner to address a social issue that exists in all communities — large and small, urban and rural, nationally and internationally,” noted CEO Jack Wong, REFBC’s CEO, in a prior interview. For more information about the Georgie Awards and a complete list of the 2013 winners, visit georgieawards.ca. feb 21 - mar 7, 2014 | metro vancouver new home guide 83

Victoria Dr

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13555 230A Street 604-466-9278

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11005 Buckerfield Drive 604-466-6388

84 METRO VANCOUVER NEW HOME GUIDE | FEB 21 - MAR 7, 2014

3. Village Green

12161 237th Street 604-476-2292

4. Montgomery Acres 24405 112 Ave 604-477-2959

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Harris Rd

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210th St

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224th St

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on the move//

packing tips To make your move a little easier • Gather boxes in all sizes from friends, neighbours and stores. • Collect cushioning material such as bubble wrap, foam pellets, furniture pads, old blankets, plastic bags, tissue paper, newspapers and small towels to use as padding inside boxes. • Create a “portable packing kit” with marking pens, a tape measure, packing tape, twine and scissors. Carry it with you as you pack up items in your home. • Reinforce the bottom of boxes with extra tape for added strength.

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• Pack your TV, stereo and computer in their original boxes whenever possible. • Keep boxes to 50 pounds or less. • Pack heavy items into their own smaller boxes and place lighter items together into larger boxes. (Hint: Don’t pack all your books into one box!) • Don’t move flammable, combustible, corrosive or explosive items such as paint, gasoline and ammunition. • Pack a bag of personal items you’ll need during the move and keep it in an easy-to-find place when you pack. feb 21 - mar 7, 2014 | metro vancouver new home guide 85

//PROJECT PROFILE

HAMPSTEAD

at Silver Ridge

Award-Winning Eco-friendly living in Maple Ridge » by STEPHANIE MACDONALD Entering your residence at Hampstead at Silver Ridge, you can immediately feel the difference that the right mix of beautiful building materials and years of awardwinning building experience make. It’s a feeling of comfort and belonging, and it’s all conveniently located in a park-like setting, just steps from all that Maple Ridge has to offer. From great schools, independent businesses, walking and hiking trails, farm stands, and local cheese works and vineyards, and with a variety of dining and shopping options in the charming and historic downtown, Maple Ridge is the place to be in the Fraser Valley, and Hampstead is the place to be in Maple Ridge. This is a home where you can live and grow, surrounded by nature, in a place defined by functional design, enhanced by personal designer touches and distinctive, quality finishes. With homes ranging from 2,450 square feet to over 3,500 square feet including unfinished basements, and choice of stunning finishing options; the homes create an atmosphere of individuality and good taste without the custom designer price tag. 86 METRO VANCOUVER NEW HOME GUIDE | FEB 21 - MAR 7, 2014

Nestled between the Fraser River and the Coastal Mountains, Hampstead at Silver Ridge’s outdoor environment won the Georgie Award this year for Excellence In Landscaping. And it’s not just about aesthetics–every part of the design helps protect the spectacular natural surroundings by maintaining as much green space as possible, minimizing hard surfaces such as roads and driveways, and using attractive natural water features that double as environmental management systems. You find all of this in a 105-acre master planned community that has been recognized with well over 100 major industry awards since 2004, coupled with award-winning customer service. This year, Customer Service Manager Wayne Houghton won the AVID Award for Customer Service, and Hampstead took home the 2013 Georgie Awards for Best Residential Community of the Year as well as the Customer’s Choice for Best Single Family Detached Production Builder, and Best Multi-Family Attached Production Builder of the Year. Hampstead has also won Best Residential Community in all of Canada. Since the completion of the Golden Ears and the new Pitt River bridges, Maple Ridge has become easily accessible from anywhere in the Lower Mainland. Buying a Portrait home is always a pleasure: because just one company designs, builds, markets and sells all their homes you can count on a seamless transaction and attention to even minor details. Get into your warm and inviting park-side home while you still can. The Hampstead at Silver Ridge Sales Centre is located at 13555 - 230A Street, Maple Ridge and is now open from 12 Noon to 5pm (except Fridays). For further information, please visit our sales center or call 604-466-9278.

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FEB 21 - MAR 7, 2014 | METRO VANCOUVER NEW HOME GUIDE 87

//Professional TipS

A calmer home in 5 steps » by Rachael Kalinsky Spring has finally arrived, and with warmer weather and longer days often comes the urge to purge. Here are five simple steps to help you de-clutter, create a calmer home and let the positive energy flow back into the spaces we’ve been hibernating in all winter long. 1 Prepare your Organizing Tools. Just like any project or

Rachael Kalinsky

Professional Organizer and Owner of Order in the House, takes pride in helping her clients live a more balanced life through the process of de-cluttering, creating customized solutions and encouraging positive habits to maintain an organized space. For more information visit orderinthehouse.ca

recipe, we need the necessary tools or ingredients before we can get started. The same goes for getting organized. Here are my key ingredients for a successful de-cluttering session: » Black bags for garbage » Blue bags or bin for recycling » Clear bags or recycled boxes for items to be donated » Two large bins or boxes: • One to act as a “Maybe bin” for those items that you’re struggling to make a decision on • The other to act as a “Relocate bin” for items that belong in another room – the key to staying focused is to not leave the room you’re working on until it’s complete » Marker and role of masking tape • To label your bins or make reminder notes on items such as “replace button” or “return to store.”

2 Keep Only the Items you USE or LOVE. Your possessions

should either serve a purpose or reflect who you are, and everything should have its place. As you begin the de-cluttering process, you should unquestionably get rid of anything that’s collecting dust, feels uncomfortable, doesn’t fit, doesn’t work, or creates a negative emotion – leaving only the items you use or love. 3 Start with your Storage Areas. We in the organizing

profession often advise our clients to pick an area and start small. While this is very true, I also suggest starting with storage areas such as the basement, garage, or that spare room that’s become the “dumping ground.” Our storage areas are often the place where things we don’t use or love end up, therefore they tend to be easier items to make decisions on and help us get into the de-cluttering groove. Secondly, our storage areas are intended for items we don’t use regularly, such as seasonal clothing, sporting gear, luggage and extra

88 metro vancouver new home guide | feb 21 - mar 7, 2014

household supplies. Getting rid of the unnecessary makes space for the items that should filter into storage as we move onto de-cluttering the rest of the home. 4 Create a place for everything.

Now that you’ve gotten rid of all the items you no longer use or love, it’s time to create a “home” for everything that’s left. Install a hook to hang your keys as you walk in the door, use baskets to keep like items together, and dedicate a letter tray to consolidate incoming mail, bills to pay and notices to address. Having a home for everything will eliminate the piles from building up again. 5 Deal with it now. Once you’ve de-cluttered and set up systems for where things belong, it’s important to get into the habit of always putting things back. It only takes a second to hang your keys as you walk in the door, put away the clean laundry, or put the kids books/toys back on the shelf. Doing it right away will save you time in the long run and eliminate that nagging and overwhelming feeling that occurs when things start to pile up.

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//finances

Money Matches » by Gail Vaz-Oxlade

Money Matches #1

Do you think you have to be birds of a feather when it comes to money to make a relationship work? And if opposites do attract, how do you compensate for your very different money styles? Gail Vaz-Oxlade

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

Some people seem to think that because somebody’s idea doesn’t match yours when it comes to how you manage your money, your relationship is doomed. That may be true if you don’t consciously make the effort to iron out your difference. Even people who are money matches have to work at making their relationship successful. Marriage is work! Don’t let anybody tell you different. The problem is that most of us go into marriage all glowing and hot, never thinking about how we are similar to or different from our mates. Since the very idea of talking about money is anathema to romance, people just avoid the issue. And when you and your mate are on the same page about a lot of other things – how you’ll raise your family, the spirituality you share, the way you feel about life in general – money tends to be the elephant in the room. Some people contemplating a long-term relationship don’t even know

You’d think that with both partners working there’d be more money to save. But often two incomes mean dueling wallets. With different money personalities, different agendas, and a tit-for-tat approach to spending, there’s more debt. 90 metro vancouver new home guide | feb 21 - mar 7, 2014

how different their attitude is from that of their mate. Later, when they clash, they can’t understand how they can be so far apart in their money personalities when they’re together on so many other fronts. Or worse, they think the conflict will “ just work itself out.” Hmmm. If this seems to be a bigger deal in today’s world than it was just a generation ago, it is. Once upon a time the majority of women did not work. And it was the rare woman who made more than her mate. So guys made the money along with all decisions about what to do with it. Now that our roles in life have changed, so have our financial expectations. With double incomes the new norm, we think we can afford to have it all RIGHT NOW. The pressure to make a good show – drive a nice car, live in a beautiful house, go on vacation, wear gorgeous clothes — is heavier than ever. We come to measure our lives with materialistic badges and the old saying, “He with the most toys wins” has become our mantra. People – women in particular – are pulled in all directions. Since historically we have been the caregivers, we have yet to learn how to balance that against our new financial power as major contributors to a household. Sometimes we just let the other guy make the decisions and then seethe with resentment as we watch our partners screw it up. You’d think that with both partners working there’d be more money to save. But often two incomes mean dueling wallets. With different money personalities, different agendas, and a tit-for-tat approach to spending, there’s more debt. So what can you do if you’re getting into a relationship – or you’re already in one – and you and your mate aren’t money matches? You can start by talking about it to see how you can

create a money match. If that’s never going to happen, then you may want to learn how to protect yourself if your better half is drop-dead determined to leave you worse off. Money Matches #2: Creating Money Matches We can love somebody without ever understanding what makes that body tick. Even couples that have been together for eons scratch their heads at some of the things their mates do. That’s because we are evolving creatures constantly responding to the stimuli around us, constantly growing, constantly changing. Well some of us. There are folks who are exactly the same at 45 as they were at 15, but in all likelihood their mates didn’t remain stagnant and so, as a couple, the dynamic has changed. It’s important that each of us know ourselves when it comes to how we think and feel about money. And it’s just as important if we’re planning to share our lives with someone else that we figure out if we’re a money match or a money mismatch. Not feeling the same about money doesn’t mean an automatic no-go. It simply means you know where the other guy is coming from. Yes, people who are less compatible can face more challenges when pairing off. But those who subvert their own money personality to match their mate’s are just asking for trouble. It can’t last. And when your mate finds out you’ve been pretending, it’s going to be a tough pill to swallow. Coming up with a plan for how you’ll manage your money means negotiating a common ground. You start by admitting who you are, how you feel about money, what’s important to you and what isn’t. Then you listen and accept the other guy’s open and frank discussions about what makes him or her tick. Finally, you work together to come up with a plan that keeps you both happy. If you can’t come up with the strength it takes to get through an exercise like this together, then you just shouldn’t even bother hooking up. After all, marriage is work and if you aren’t prepared to work hard, don’t even bother to start. One of the easiest places to start the conversation about money is talking about what you’re most comfortable with and what you feel is most risky. Putting on the table the things you need to feel safe is a natural part of the hooking-up process. And talking about the things that make you feel most unsafe is a natural extension. Since many money issues have a comfort/risk component, it’s easy to move from a general discussion to a money talk. » How much money do you have to have in the bank to feel safe? » Do you each know what your money set-points are? » What kinds of investments do you feel are safe (for you) or risky? » How much debt is too much debt? » What kind of debt are you willing to take on? » How much insurance is enough? » When you have children, how will you keep those children safe financially?

» As you get to know each other, you should be working to clarify each other’s goals. If it’s airy-fairy (I’d like to own a house), nail it down (what kind of house, where, when, how much house?) You also need to talk about your different approaches to planning. For while one of you may be all spontaneity and impulse the other may be a structure freak. Figure out what’s important to yourself and the other guy before you run into a wall. Money Matches #3: Common Problems Believe it or not, not all the arguments about money stem from not having enough. Sometimes it’s a control issue. Martha always wants to know how much money there is in the bank and so she won’t let Jason have access to the account because she’s afraid he’ll spend money she’s allocated elsewhere. Sometimes it’s a difference in goals. Kevin wants to have fun. They’ve got a good pension plan and they have secure jobs that pay well, why can’t she just leave him alone now? From my experience working with couples, the following seem to be the things people most often fight about. Feel free to add to the list. If you’re contemplating a commitment to a mate – or you’ve been in a relationship for a while and you feel it’s finally time to address these issues — you might want to talk about these right off the bat: » Who will be responsible for keep the account(s) in the black, and how the other person will help. » Who will pay the bills, and how the other person will stay in the loop. » The similarities and differences in your spending styles, and how you will deal with them. » Ditto your approaches to saving. » How you will deal with changing/conflicting priorities: moving for one partner’s career, having children, retirement. » How you’ll invest, who you’ll invest with, and how you’ll deal with different investment personalities…she’s a safety freak and he likes to take more risk. » How much debt you’re each comfortable with, and how you’ll decide whether something is worth going into debt for. » How you will show you are listening to what the other person needs you to hear. This last point is important. If I had a penny for every time I heard, “She won’t stop shopping. She won’t hear me when I say that there’s no money.” Or this one: “My husband has no idea how much it costs to run a family.” These are classical examples of “He/ She just won’t listen.” The key to making any discussion about money work – including addressing the inherent differences in your approaches to money – is to demonstrate that you respect where the other guy is coming from. If there are issues that consistently crop up, then you’ll have to take a deeper look at the attitudes that may be feb 21 - mar 7, 2014 | metro vancouver new home guide 91

//finances contributing to those issues. But all the way along you need to be supportive and accepting of the person – and deal with the behaviour separately. “Buddy, I know you need to have some fun with your friends. But I need to know we’re not going to miss the mortgage payment. How much do you think is reasonable for fun money for you every month? Okay, let’s look at the money we have and our expenses (hey! that’s a budget!) and see where we can find that money.” Talking about your money fairly regularly – at least once a month – is one of the biggest contributors to creating successful money matches. With regular communication, things can’t spiral too far out of control before you deal with them. You’d also be smart to look for the telltale signs of money matching while you’re dating. If he seems to blow a lot of money on you, buying flowers, taking you to expensive events, how will you feel when the cost of his wooing comes head-to-head with his credit card balance? If she’s demanding, with expectations that you think you’ll never be able to meet over the long term, why would you choose to rope yourself into an untenable situation? Just because the person you are currently seeing seems like the perfect match doesn’t mean there won’t be issues you have to iron out. If you don’t ask the right questions, you’ll end up headed down the road to marriage without every knowing where the potholes are. Money Matches #4: Protecting Yourself Sometimes people end up in relationships where they are very badly matched when it comes to the money. You’re a saver. Your partner is a spender. You think about the future. Your partner lives for today. You’re conservative. Your partner likes to take risks. If you’re counting on your buddy to do the things you need to keep your financial boat afloat and (s)he doesn’t, you may have to accept that you’re in this ship alone. If you love your mate, that may mean accepting them for who they are and getting on with the business of life. And if you have children, it may mean putting up a protective wall around yourself and your kids to make sure you are safe. I’ve received hundreds of letters from people who are unhappy with their mates’ behaviour when it comes to the money. They feel at risk. They feel out of control. And they are stressed, sad, worried, depressed, and don’t know what to do next.

Talking about your money fairly regularly – at least once a month – is one of the biggest contributors to creating successful money matches. 92 metro vancouver new home guide | feb 21 - mar 7, 2014

If you are living with a partner who is irresponsible with money, you have three choices: » you can stay, living life on the rollercoaster and hoping for the best, » you can leave, up-rooting everyone and bearing the cost of the breakup both financially and emotionally – so you better be dead sure this is the right step, or » you can accept that you can’t change your mate, stop your whining, and create a protective wall that isolates your partner’s aberrant behaviour and keeps your family safe. Make sure you are not on the hook for any of his borrowing. That means no joint credit (which I disagree with anyway). No co-signing. No sharing of credit cards or bank accounts (keep your cards and your PINs to yourself) especially where overdraft protection may leave you on the hook. If you own a home together, accept that your home may not be around forever. Any joint assets will be at risk since if your partner ends up in bankruptcy, those assets will be part of the proceedings. The only way to avoid this is if your partner’s name is not on title. If it is, paying down your mortgage may be an exercise in frustration since whatever assets you build up may be affected by your partner’s wanton spending and rampant debt. Keep all the important “must-pay” bills in your name. Put all extraneous bills – cable, telephone, sports fees, etc. – in your partner’s name. If your buddy blows at getting the bills paid on time, you don’t want it to affect the really important things or your credit history. Make sure you have a big fat emergency fund. While the general rule of thumb is six months’ worth of essential expenses, if you’re married to a financial moron, you’ll need to have nine months’ to a year’s worth of expenses socked away. Your partner is an emergency waiting to happen. Be prepared. Save/invest separately. Ha! Who are we kidding? Your partner isn’t saving. Just make sure she doesn’t know where the money is or has any access to it. It doesn’t exist as far as she’s concerned. Come up with a plan for the expenses. He has to give you a specific amount every week to meet the family’s needs. If he doesn’t then you’re stuck with a free-loader and should reconsider your options. If he does, that money goes into an account that you use to make sure the essential bills are paid. The other stuff he can pay from his own account. Yup, you’ve got separate accounts! Keep your hand out of your pocket. This is the toughest thing you’ll have to do. You cannot save your partner. You should not attempt to rescue her when the tears start. It’s part of the condition. You have to grit your teeth and NOT bite the hook. If you fail at this part, you’ll fail altogether! This isn’t about punishing your partner it’s about protecting yourself. And if you have children, they need your protection. Just because one member of your team can’t see beyond his or her own nose doesn’t mean the whole family should suffer. If you’ve got a partner who just doesn’t get it, you’ve got a rough road to walk.

homebuyers’ help//

Homebuyers’ Resource Section You love the home, see what you can afford! » Compare mortgage rates for your best deal

» Calculate your mortgage payments using the mortgage payment calculation chart

feb 21 - mar 7, 2014 | metro vancouver new home guide 93

Calculate your mortgage payments interest rate

amortization period

chart figure

example: 5%

25 years

5.82

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

125

monthly payment

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

01 02 03

Calculate the combined monthly before-tax income of you and your spouse. Divide by three. This figure is the monthly payment you can afford to make on your home. Take the total price of the home and subtract the amount of money you expect to make as a down payment. This is the money you will have to borrow.

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

06 07

Add to this your estimated monthly heating costs and monthly property taxes. If this figure is equal to or less than one-third of your gross monthly income (calculated in Step 2), you’ll qualify for a mortgage on your dream home.

Multiply this figure by the amount you need to borrow. Divide by 1,000. » Bear in mind that this is a rough estimate. If you have several other large loans already, you may qualify for less. Also, banks and trust companies vary in their policies. The best way to know what you can afford is to go to the lending institution of your choice andget pre-qualified.

94 metro vancouver new home guide | feb 21 - mar 7, 2014

Mortgage payment calculation chart %

Interest Rates

10 years

Amortization Periods

15 years

20 years

25 years 4.73

4.21

4.99

4.48

3.00%

9.65

6.90

5.54

3.50%

9.88

7.14

5.79

3.25% 3.75%

9.76

9.99

7.02 7.26

5.66

4.86

5.91

5.13

4.61

5.40

4.90

4.00%

10.11

7.38

6.04

5.26

4.50%

10.34

7.63

6.30

5.53

4.25% 4.75%

10.58

5.50%

10.82

5.25%

7.26

6.55

6.11

7.55

6.85

6.42

7.84

7.16

6.75%

7.00% 7.25%

7.50% 7.75%

8.00%

8.25%

8.50% 9.00% 9.50%

11.43

11.56

11.68 11.81 11.94

12.06

12.19

12.32

9.07

9.21

9.34

9.48

9.62

9.76

7.69

7.63

8.59

7.95

8.44

9.05

10.33

11.00%

11.25%

13.50

13.64

13.77

11.50%

13.91

12.00%

14.18

11.75%

11.06

11.22

11.36

11.52

12.13

9.12

10.16

9.63

10.32

10.49

11.31

14.46

8.78

9.29

12.28

14.59

8.45

9.84

10.00

10.98

12.75%

7.76

8.63

11.97

7.42

7.59

8.95

10.65

14.32

7.08

7.25

9.52

11.66 11.82

6.91

8.28

14.04

12.25%

12.50%

10.92

6.75

8.62

9.68

13.37

8.12

6.59

9.20

10.77

10.75%

7.79

6.26

8.28

13.24

10.63

7.47

5.95

8.86

10.25%

13.10

7.00

8.28

10.19

12.84

6.70

7.32

8.74

10.05

6.40

7.99

8.14

9.90

12.58

8.93

9.36

10.50%

8.80

7.41

10.48

8.66

7.12

12.97

10.00%

8.40

9.75%

5.64

8.53

11.31

12.71

6.10

5.34

5.49

11.19

9.25%

6.85

5.96

6.25%

5.82

5.19

5.79

12.45

6.57

6.74

5.04

6.25

8.75%

8.14

5.67

6.98

11.07

7.88

8.01

6.44

4.76

8.27

6.50%

7.75

6.17

10.94

10.70

7.50

4.34

5.75%

6.00%

10.46

5.00%

10.23

30 Years

10.81 11.15

9.46

9.80

7.93

8.10

8.45

8.80 8.98 9.16

9.34

9.52

9.97

9.70

10.32

10.06

10.15

10.49 10.67

10.85

9.88

10.25

10.43

10.61

This table shows the monthly payment of principal and interest for each $1,000 of mortgage. Example: The monthly principal and interest payment for a $125,000 mortgage with a 25-year amortization period at 5% is as follows: ($125,000 รท 1,000) X 5.82 = $727.50 feb 21 - mar 7, 2014 | metro vancouver new home guide 95

BRITISH COLUMBIA’S NEW HOME DEVELOPMENTS PROJECT

ABBOTSFORD Abacus Uptown Auguston Brooklyn Eagle Estates Eagles Gate Falcon Ridge Foxwood Harvest Hudson’s Loft Lift Luna Waterleaf BURNABY Altitude Aviara Brentwood Britton Casa d’oro CentreBlock at Univercity Eden at Edmonds Highland House Kabana Lift Madison Met 1, The Met 2, The Metro One Metro Two Metro Metroplace Moda Modello OakTerra Oro Paddington Mews Panacasa Parkside Greene RedBricks Reflections Silver Solo District Station Square Trio Venice Vibe Wall Centre Central Park CHILLIWACK / SARDIS Centre Field Englewood Village Garrison Crossing Heron’s Landing Jinkerson Vistas La Cason Radius River Walk Summit Residences, The Townsend Terrace COQUITLAM 1123 Westwood Amberleigh Austin Bloom Breeze Residences

TYPE

LR SF LR SF SF SF SF TH LR LR TH LR HR HR HR TH TH HR TH LR LR LR/TH LR HR HR LR LR TH HR HR HR LR LR TH LR/TH TH LR HR HR HR HR LR LR LR HR TH SF SF/LR/TH SF LR LR TH SF TH HR SF HR LR/TH TH

C O N TA C T

PRICE

604-854-1201 604-308-8660 604-746-3496 604-859-3141 604-309-7729 604-309-0540 604-850-5040 604-607-7801 604-864-8948 604-557-1047 778-895-5862 604-850-3694

PROJECT

Call From $559,000 From $169,900 From $599,900 From $373,500 From $789,000 From $524,900 From $259,900 From $99,900 Call From $289,900 From $179,000

604-456-8883 From Mid $200’s 604-291-9130 Call theamazingbrentwood.com Coming Soon brittonliving.com From $489,900 604-436-1100 From $499,900 libertyhomes.ca Coming Soon 604-329-8228 Coming Soon 604-941-4663 From $209,900 604-288-7394 Coming Soon 604-320-3386 Call liveatburnabyheights.com Coming Soon 604-899-8800 From $349,800 604-899-8800 Coming Soon 604-435-9477 Call 604-435-9477 From $439,900 604-435-5565 Call 604-435-8866 Call 604-439-9580 From $390,900 604-456-0688 From $389,900 604-431-6033 Call 604-754-7338 From $274,900 604-438-9922 From the $290’s 604-437-0100 From $239,900 604-435-7088 From $299,900 604-527-7955 Call 604-525-8496 Call 604-435-8866 Call 604-298-8800 From Low $300’s 604-438-1113 Call 604-218-3338 From $249,900 veniceliving.ca Coming Soon 604-970-9606 From $259,900 604-874-9232 From $299,900 604-795-6938 604-534-5079 604-824-5062 604-858-7179 1-877-858-2408 1-800-830-7175 604-991-5151 604-991-1777 604-824-6473 1-800-830-7175

From $242,900 From $249,900 Call From $269,900 From $399,900 From $184,900 From $149,900 From $259,900 From $508,000 From $242,900

604-472-1123 604-514-4359 604-931-0302 604-939-8808 604-374-4329

Call Coming Soon From low $200’s $264,000 From $399,900

Penthouse (PH)

Live Work (LW)

Real Estate Sales & Marketing From the ground up

City Home (CH)

High Rise (HR)

Bridlewood Burke Mountain Heights Cedar Creek Celadon Charland Como Evergreen Grand Central 2 Hazel Kingston Maya Mackin Park MTwo MThree Oasis Reef Regan’s Walk Riley Secret Ridge Somerton Sterling DELTA LADNER Canu NORTH DELTA Delta Rise Lakeside Luxor South Pointe TSAWWASSEN Brio Tsawwassen Heights Tsawwassen Shores Tsawwassen Springs LANGLEY Athenry Gate Bearing Pointe Charleston Place Cornerstone Elements Focal Point Kensington Mason & Green McBride Station Mission Green Nature’s Walk Varsity Virtue Winchester Estates York Yorkson Creek Yorkson South

Mid Rise (MR)

Low Rise (LR)

C O N TA C T

604-871-4194 778-285-6299 604-880-1880 604-942-8416 604-492-3388 604-939-0018 604-942-2672 604-936-1888 778-829-1500 604-514-4359 604-288-9888 604-939-8874 604-472-9555 604-472-9555 604-464-2701 604-288-8909 604-492-0222 604-468-7688 secretridge.ca 604-469-8581 604-464-2260

Coming Soon From Low $700’s From $419,900 From $369,900 Call From $208,800 From $267,900 From $309,900 From $220,500 Coming Soon Call From $199,900 From $599,900 From $281,900 Call From $349,900 From $199,900 From $349,900 Coming Soon From $699,900 From $689,900

604-940-5533

From $324,900

HR TH LR SF

604-594-7473 604-585-7107 604-590-8003 604-584-2908

From $189.900 From $568,000 From $199,900 From $699,900

LR SF SF SF/LR

604-943-8811 604-271-7288 604-943-6677 604-948-HOME

Call Call From $499,900 Call

TH LR TH TH TH LR SF

604-882-8857 604-530-7011 604-534-7974 604-534-6000 604-533-7718 604-377-7000 604-427-3311 604-852-5382 604-533-0881 604-871-4288 604-888-8370 604-539-2200 604-534-6800 604-533-1886 604-568-3385 yorksoncreek.com 778-785-1673

From $137,500 From $194,900 Coming Soon From $199,900 From $199,900 Coming Soon From $199,900 From $299,900 Coming Soon Coming Soon Call From $139,900 From $334,900 incl. GST From $309,900 From $299,900 From $179,900 From $440,000

LR TH LR LR LR SF TH SF SF LR SF

604-463-0588 604-630-9030 604-318-5254 604-466-8783 604-477-1500 604-466-9278 604-476-1188 604-463-5000 604-477-2959 604-467-8884 604-999-2452

From $139,900 From $254,900 Call From $149,900 Call From $498,900 From $299,900 Call From $509,980 Coming Soon From $489,900

Loft (LO) Duplex (DP) Townhouse (TH)

Representing the best in New Home Sales across the Lower Mainland from Townhomes to Condos. Homes starting in the $150’s

PRICE

TH SF TH HR LR LR HR HR LR SF LR LR HR HR HR TH LR TH DP SF SF

LR LR HR LR LR LR LR TH TH

MAPLE RIDGE 223 North Albion Station Cascada Edge on Edge Falcon Centre Hampstead at Silver Ridge Kanaka Creek Mainstone Creek Montgomery Acres Parc Vue Pointe, The

FIFTHAVE.CA 96 METRO VANCOUVER NEW HOME GUIDE | FEB 21 - MAR 7, 2014

TYPE

The listings included on the following pages are meant to offer a comprehensive overview of those new home developments currently being marketed throughout Greater Vancouver and the Fraser Valley. Pricing is subject to change; you should contact the specific development for current details or special promotions. To report any changes or corrections to this information, please contact our office at 604.519.6080, fax 604.519.6088, or email homes@wall2wallmedia.com PROJECT

River’s Edge Spencer’s Green Station One Two Birds Village Green Village Walk Wellington Station Wynnridge

T Y P E C O N TA C T P R I C E

LR SF LR TH TH TH LR SF

PROJ ECT

604-318-5254 From $159,900 778-846-3200 From $504,900 604-467-9300 Coming Soon 604-467-7000 Call 604-476-2292 From $279,900 604-465-6524 Coming Soon 604-380-0300 From $189,000 604-466-6388 Call

MISSION / HARRISON Fraser Landing TH 1-888-826-1177 Horizons TH 1-888-826-1177

Dominion Fremont Blue La Via Orchid Shaughnessy, The South Verde Valorie on the Park

NORTH VANCOUVER 15 West HR 604-980-9949 From $340,000 221 East 3rd LR Coming Soon LR/LW 604-984-0700 From $299,000 700 Marine Drive LR 604-988-8800 From Mid $200s Anchor, The Atrium at the Pier MR/TH 604-983-9065 Call Canyon Springs LR 604-973-0298 Coming Soon Capstone MR 604-929-8870 Call CentreView HR 604-998-8540 Call Destiny 2 at Raven Woods LR 604-929-1915 From $289,900 Drive, The LR 604-986-8138 Call Heywood on the Park LR 604-985-0003 From $288,900 Landing, The MR 604-983-9065 Call Latitudes TH 604-435-9477 From $469,900 HR/LR/TH 604-998-0219 From $309,900 Local on Lonsdale Maplewood North LR 604-727-1594 From $378,900 Orizon on Third LR 604-638-6240 From $469,900 Northlands LR/TH 604-800-2120 Call MR 604-983-9065 Call Pinnacle Residences at the Pier Prescott HR 604-969-3333 From Mid S200’s Queen Mary LR 604-770-1645 From $349,900 Remix LR 604-924-4488 Coming Soon Seylynn Village HR 604-980-5000 Coming Soon Shore, The LR 604-980-0016 Call PITT MEADOWS Cedar Downs LR 778-846-3200 From $194,900 Liv42 LR 604-460-6601 From $134,900 Osprey TH 604-465-8712

Penthouse (PH)

Live Work (LW)

From $219,900 From $199,000 From $209,900 From $829,900 City Home (CH)

TH TH LR LR HR LR LR

604-469-8988 Call 604-552-0319 From mid $300’s 604-475-5100 From $169,900 604-866-4206 From $149,900 604-468-8252 Call 604-468-8640 Call 604-464-4764 From $246,900

PORT MOODY Residences, The HR 604-552-0552 Call Station, The TH thestationliving.ca Call

From $249,900 From $319,800

NEW WESTMINSTER 258 on Sixth HR 604-377-9630 Call Alexander Walk TH 604-779-1292 From $349,900 Brewery District HR 604-694-1188 Coming Soon Carlyle at Victoria Hill HR 604-523-0733 Call Dominion HR 604-525-8980 Call Elliot St HR 604-524-8080 From $224,900 English Mews TH 604-517-1688 From $329,900 Flow TH 604-520-9880 From $508,900 Glass House Lofts LR 604-520-9890 Call Grove, The LR 604-523-0733 From $266,900 Lookout at Victoria Hill, The LR 604-523-0733 Call Northbank HR 604-523-0081 From S261,900 Parkside HR 604-523-0733 Call Parkside at Victoria Hill HR 604-523-0733 Call Rivers Walk TH 604-533-3575 From $469,900 Thompson Landing SF 604-520-3226 From $476,900 Trapp & Holbrook HR 604-525-0223 From $299,900 Viceroy LR 604-522-2583 From $321,900

PORT COQUITLAM Altura LR 604-552-5887 Burleigh Walk LR 604-464-5856 Carmandy LR 604-435-9477 Citadel Heights SF 604-468-2169

T Y P E C O N TA C T P R I C E

High Rise (HR)

RICHMOND Alexandra Court LR 604-278-5809 From $324,900 SF 604-649-8630 From $1,700,000 Blue Heron Marine Estate HR 604-276-8683 Call Cadence Carrera HR 604-244-7721 Call Concord Gardens HR 604-233-7748 From $300,000’s Emerald HR/TH 604-244-8333 From $296,000 Empire Living TH 604-244-9622 Call Gardens, The LR 604-271-3331 From $288,800 HR 604-278-3939 From $318,800 Harmony Monet HR 604-233-7748 From $300,000’s HR 604-303-7575 From $464,900 Opal at Richmond Centre Ora HR 604-278-8838 Call Orchard LR 604-303-8819 From $259,900 Pier, The LR 604-274-7326 Call Remy LR 604-279-8866 From $211,900 River Inlet MR/TH 604-233-2633 Call River Park Place HR 604-282-7838 From $229,500 Saffron LR 604-270-2482 Call Southpointe Cove TH 604-273-2828 Call Tempo HR amacon.com Coming Soon Westminster Terrace TH 604-204-1077 Call SQUAMISH / WHISTLER Elaho TH 604-898-2232 Ocean Crest SF 604-896-2235 Ravens Plateau SF 1-888-852-7575 Aqua TH/LR 1-877-344-5566 University Heights LR 1-888-852-7575

Coming Soon From $1,298,000 Call From $239,000 Call

SUNSHINE COAST SECHELT SF 604-741-1877 SilverStone Heights

From $479,900

SURREY 3 Civic Plaza Ashbury Hill Ascend Balance Bishop Creek Blackberry Walk Boardwalk Brixton Canvas Connect Edgewood Enclave at Boundry Park Esplanade at Waterstone Eton Fusion G3 Residences Grove at Cambridge, The Guildford Greens Heights Highlands at Sullivan Ridge Joi Living

Call From High $200’s From $170’s Coming Soon From $354,900 Coming Soon From $341,900 Coming Soon Coming Soon From $118,800 From $344,900 From $349,900 From $219,900 From Low $300’s From $350,000 Call From Low $300’s From $349,900 Coming Soon From $679,900 incl. GST From $339,000

Mid Rise (MR)

Low Rise (LR)

HR TH LR LR TH TH TH TH TH LR TH TH LR TH TH HR TH TH TH SF TH

604-951-3331 ashburyhill.com 604-596-2202 tiensher.com 604-588-0005 604-501-6119 604.506.1852 604-503-0483 liveatcanvas.com 778-395-1886 604-644-7811 604-657-3709 604-530-5399 etonliving.com 778-578-9779 604-453-6688 604-597-7177 604-307-0400 604-538-8888 778-565-7768 604-574-8888

Loft (LO) Duplex (DP) Townhouse (TH)

FEB 21 - MAR 7, 2014 | METRO VANCOUVER NEW HOME GUIDE 97

PROJECT

Kendra Latis Latitude Lingo Links, The Lumina Madison Manarola Oliver’s Lane One 44 One 38 Panorama Station Panorama West Village Panorama Woods Park Avenue Quattro 3 Redwood Rockwoods, The Silverwood Teo Hyland Residences Ultra at West Village Verve The Walks Wave Zen CLOVERDALE Cadence Clayton Heights Creekside The Grove La Rue MacKenzie Estates One92 Sun 72 Salix Uptown Clayton Village

T Y P E C O N TA C T P R I C E

PROJECT

TH 604-590-9122 From $329,900 LR 604-575-0669 From $194,900 LR 604-596-5075 From $264,900 LR 604-727-5478 From $159,900 SF 778-574-2550 From High $600’s LR 604-727-5478 From $274,900 TH 604-543-6262 From $323,000 LR 604-825-1038 From $179,900 Incl. GST SF 604-543-3868 From $489,900 TH 604-503-6402 From $304,900 TH liveatone38.com Coming Soon TH 604-372-2275 From $299,800 TH 778-885-6700 Call TH 778-593-9954 From $314,900 HR 604-583-9866 From $250’s LR 604-581-8000 From $159,900 TH 604-503-6929 Coming soon TH 604-503-1188 Call TH silverwoodliving.com From Low $300’s TH 604-288-8918 From $299,900 TH/HR 604-588-6999 From $186,900 LR 604-588-3783 From $160’s TH 604-440-8070 Call HR 604-951-9283 Call TH 604-355-0166 Call SF 604-727-5478 From $699,900 TH/DU 604-723-4497 From $549,900 TH 604-572-0400 Coming Soon TH 604-533-6968 From $275,900 TH 604-575-2263 From $304,900 TH 604-538-2125 From $349,900 LR/TH 604-576-1772 From $199,900 TH 604-575-8806 From $292,900 LR 604-530-0054 From $241,900 TH 778-574-0146 From $339,900

VANCOUVER & AREA DOWNTOWN 999 Seymour HR 604-879-9996 From $327,400 Canvas MR 604-875-8508 Coming Soon Fairmont Pacific Rim Estates HR 604-781-4303 Call Keefer 188 LR 604-620-2018 From $239,900 Keefer Block LR 604-682-8813 From $269,900 Maddox HR 604-669-8200 From $389,900 Mark, The HR 604-687-4353 Call Modern HR amacon.com From $300’s One Pacific HR 604-899-8800 From $300’s Pacific Pt HR 604-685-0855 From $349,900 Private Residences at Hotel Georgia, The HR 604-682-8107 Call Ritz, The HR 604-876-9222 Call Rolston, The HR 604-688-8927 Call Sapphire, The HR 604-876-9222 Call Tate On Howe HR 604-568-8283 From $268,000 EAST SIDE 238 W Broadway LR 238westbroadway.ca Call 2nd & Commercial LR 604-800-8862 From $269,900 Avant TH 604-298-2240 From $600,900 Block 100 HR 604-682-8801 Call Bohème LR 604-569-3388 From $227,900 Central HR 604-687-4353 Call Charm LR 604-330-8838 From $266,900 Cordovan LR cordovan.ca Coming Soon Kensington Gardens LR 604-620-7886 Call Local LR 604-688-5527 From $349,900 Main Street LR 604-877-1116 From $339,900 Shine MR 604-261-3936 Coming Soon Shoreline LR 604-434-2205 Coming Soon Skyway HR 604-436-1100 Call View 388 LR 604-330-8838 From $219,900 Wall Centre 900 Hastings MR 604-683-0900 From $249,900 Penthouse (PH)

Live Work (LW)

City Home (CH)

T Y P E C O N TA C T P R I C E

Wall Centre Central Park HR 604-874-9232 From $299,900 Woodshire TH 604-719-1700 From $420,900 WEST SIDE 6 & Fir HR 604-899-8858 From $449,900 5555 Dunbar LR 604-568-7551 From $349,900 Alder Crossing TH/Studios 604-600-5405 From $290,000 Anchor TH Coming Soon Arbutus Ridge MR 604-738-0001 Call Binning Tower HR 604-646-1111 From $499,900 Cambie & 7th HR/TH 604-568-5060 Call Crescent on McRae, The TH 604-652-2515 Call Elizabeth LR 604-687-8800 Coming Soon Empire at QE Park LR 604-568-5060 Call Granville at 70th HR 604-687-2298 Call Kerrisdale Gardens MR 604-559-9848 Call Kits360 LR 604-737-0360 From $379,900 Lido HR 604-872-2672 From $458,900 MC2 HR 604-638-9998 Call 604-876-8819 From $349,900 Meccanica MR Montgomery TH 604-369-6641 From $985,800 Oak by Listraor TH liveatoak.com Coming Soon One, The MR/HR 604-874-8368 From $349,900 Opsal HR 604-876-7332 Call Pinnacle Living Broadway MR 604-739-2080 From $399,900 Prelude MR 778-986-7860 From $347,500 Prodigy HR 604-221-8878 From high $300s Radius LR 604-731-5522 Call Riley, The LR 778-986-7860 From $347,500 Shannon Wall Centre Kerrisdale LR 604-267-8882 Call Sixth and Willow sixthandwillow.com Coming Soon Village on False Creek, The MR 604-874-8368 From $414,500 Westerly, The LR 604-568-3399 From $300,000’s WEST VANCOUVER Evelyn LR 604-922-0330 Call WHITE ROCK / SOUTH SURREY Abbey Road TH Adagio LR Augusta TH Avra HR Belcroft, The TH Blu TH Breeze TH Elevate at the Hamptons DU Essence at the Hamptons TH Gemini LR George TH Grandview Heights TH Headwaters LR Heights, The TH/LR Juniper SF Morgan Crossing LR Morgan Living SF Newport at West Beach LR Niche TH On The Course TH Promenade LR Royce LR Saltaire LR Sausalito MR Semiahmoo Trail TH Southbrooke SF Summerfield SF Toccata TH Winter Street LR Woods TH

High Rise (HR)

Mid Rise (MR)

Low Rise (LR)

604-542-0660 From $359,900 604-531-6659 From $288,900 604-999-9323 From $439,900 incl. GST 604-531-9030 From $319,900 604-568-8830 From $599,900 604-782-5258 From $599,900 incl. GST 604-582-1113 Call 604-723-4497 From $629,900 604-723-4497 From $400,000 604-536-1663 Call 604-571-6400 Coming Soon discovergrandviewheights.com 604-535-1451 $313,500 778-545-8737 From $337,000 liveatjuniper.ca From $769,000 604-582-1336 From $275,900 604-385-0551 From $699,000 604-536-0256 Call 604-535-5511 From $351,900 604-385-0111 From $300’s 604-531-1111 From $314,900 604-538-8028 From $332,900 604-560-1656 Call 604-531-2200 Call 604-535-9633 Coming Soon 604-805-2941 Call 604-536-1155 From $684,900 604-535-5088 $379,900 604-364-7455 From $299,900 604-538-8876 From $379,900

Loft (LO) Duplex (DP) Townhouse (TH)

www.macmarketingsolutions.com We sell the homes you want to buy. /MacMarketingSolutions 98 METRO VANCOUVER NEW HOME GUIDE | FEB 21 - MAR 7, 2014

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