APR 1 - 15, 2017 VOLUME20, 2, ISSUE 6, X, FREE FREE VOLUME
SOUTHWESTERN ONTARIO ONTARIO EDITION EDITION SOUTHWESTERN
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YOUR FUTURE BEGINS HERE Empire is preparing for upcoming releases at three unique communities in three great locations. Our beautiful new homes are designed to make everyday life richer, with enviable designs where smart space planning and innovation meet. Select the community that fits your life. Your future begins here.
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IMAGINE NIAGARA FALLS
Towns & Detached Homes Priced from the mid $300s Coming Spring 2017
AVALON CALEDONIA
Towns & Detached Homes Priced from the low $400s Coming Spring 2017
WYNDFIELD BRANTFORD
Detached Homes Coming Summer 2017
APRIL 1 - 15, 2017 | NEW HOME & CONDO GUIDE SWO 3
contents APR 1 - 15, 2017 | VOLUME 20 ISSUE 6
VICE-PRESIDENT & CHIEF PUBLISHING OFFICER
Caroline Andrews PUBLISHER & GENERAL MANAGER
Shawn Woodford DIRECTOR OF SALES, NATIONAL
Moe Lalani ASSOCIATE PUBLISHER
Anne-Marie Breen SENIOR MANAGER, CONTENT
Jennifer Reynolds EDITOR
Wayne Karl ART DIRECTOR
Daiana Garay CONTRIBUTING EDITORS
Sonia Bell Elisa Krovblit Lydia McNutt
12
SENIOR ACCOUNT EXECUTIVE
Nina Downs nina.downs@ypnexthome.ca SENIOR ACCOUNT EXECUTIVE
ON THE COVER
12
Dionne Fraser dionne.fraser@ypnexthome.ca
Losani Homes
SALES CO-ORDINATOR
Vista Ridge – single-family homes with a wine country address
Sarah Khan MANAGER OF PRODUCTION
property profile
18
Rosehaven Homes & CDI Homes
Tiffany Hill Phase 2: A jewel of a community for everyone
Helen Pearce
advice
30 Tarion Report
How Tarion protects your new home deposit
CO-ORDINATOR
Hannah Yarkony GRAPHIC DESIGNER
Miguel Cea CONTRIBUTING WRITERS
trending
14
32
Housing Market
Industry calls for government action on affordability
It’s a different kind of spring in Canadian real estate this year
Budget 2017 falls short of addressing market issues
buyers’ resource section
CHBA
15
Mismatch in housing supply and demographic demand
city focus
34
38
27
Milton
Designer Secrets
Let the light shine in – or not – when it comes to blinds
Style File
Making your new backyard into the perfect space
40 Style File
Budget friendly spring style updates
6 YPNEXTHOME.CA
Hot Properties Hamilton
New releases and grand openings
Hot Properties Kitchener-Waterloo & London
New releases and grand openings
Small town allure, big city amenities
inspiration
36
5 things to consider before getting a mortgage
Joanne Keenan Jeffrey Reed
45 Fundamentally Speaking
20 Housing Market 26
Mortgage Advice
43
Mortgage Rates
in every issue
10
Editor’s Note
44 Advertiser Index 46 What’s Online
#500-401 The West Mall Etobicoke, ON M9C 5J5 T 416.626.4200 F 416.784.5867 ypnexthome.ca
ADVERTISING Call 416.626.4200 for advertising
rates and information Office hours are Mon-Thurs. 9-5; Fri. 9-12 CIRCULATION Free distribution. Published biweekly from Sept.-Nov. & from Feb.-June and monthly in June, July & Dec. TERMS Advertisers, Editorials and New Home & Condo Guide are not responsible for typographical errors, mistakes or misprints. All prices are correct as of press time and are subject to change without notice. E. & O. E. EDITORIAL Submissions from interested parties will be considered. Please submit to the address above, to the attention of the Editor. COPYRIGHT 2017 All rights reserved by New Home & Condo Guide, Toronto, Ontario. Reproduction in any form is prohibited. Contents of this publication are covered by Copyright and offenders will be prosecuted under the law. The views and data expressed by columnists do not necessarily represent those of the publication. Yellow Pages Next Home is a trademark of Yellow Pages Group Co. in Canada.
ONTARIO
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APRIL 1 - 15, 2017 | NEW HOME & CONDO GUIDE SWO 7
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Editor’s Note
Prospective buyers, use your voice IF YOU’RE IN THE MARKET for a new home, be it your first or otherwise, you might well be spooked by what’s happening in the Greater Toronto and Hamilton Area. Supply constraints in lowrise homes and continuing voracious buyer demand are resulting in rampant price growth. A growing number of voices are weighing in, or more accurately, raising concerns. Home building associations, realty firms and even municipal leaders are increasingly saying such conditions are worrisome and unsustainable. What seems to be missing from this dialogue is the consumer. It is you, prospective or repeat homebuyer, who is most affected by these conditions. Even more so, perhaps – your children. If you don’t understand what’s going on, and the longterm implications, or think those speaking out are skewing discussion to suit their respective cause... you have a powerful voice. Now would be a good time to use it.
WAYNE KARL Senior Editor Yellow Pages NextHome Email: Wayne.Karl@ypnexthome.ca Twitter: @WayneKarl
ONLINE
SEE MORE PHOTOS ONLINE
BUYERS LOOKING FOR NEW LOWRISE HOMES in and around the GTA, and feeling priced out of the Toronto market, are heading west… to Milton. Read the full story…
ypnexthome.ca/milton
+ get social 10 YPNEXTHOME.CA
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* 2016 OHBA award recognized AquaBlu for Most Outstanding Mid-Rise building. Rendering is artist’s concept. Prices and specifications subject to change without notice. Go Transit is a registered trademark of Metrolinx and is not affiliated with Homes by DeSantis or Aquazul. E.&O.E.
11
Property Profile | LOSANI HOMES
cover story
Single-family homes with a wine country address LIVE IN THE HEART of wine country
at Vista Ridge, the master-planned community by Losani Homes in beautiful Beamsville. Nestled amongst 45 local wineries and the Niagara Escarpment, Vista Ridge will be comprised of four desirable neighbourhoods with a community park at its heart. Access to the Bruce Trail is moments away, as well as numerous parks and conversation areas. Premium schools and recreation are right down the road, and charming cafes and restaurants are a short stroll away. Like an aged bottle of Pinot Noir, life at Vista Ridge is best well-savoured. 12 YPNEXTHOME.CA
No matter what your interests are, you’ll enjoying living in Beamsville. Whether you would rather spend your free time on the field, working on your golf game, or having your nose buried in a great book, there is something for everyone moments away from Vista Ridge. The Beamsville Lions Community Park is a 47-acre sports park offering soccer pitches and mini-fields, softball and baseball diamonds and playground. Twenty Valley Golf & Country Club provides eighteen holes of premium golfing spread over 142 acres designed by renowned architect Clinton E. “Robbie” Robinson. To relax, practice
your downward dog at one of the local studios, read a best seller at the Lincoln Public Library, or simply enjoy the great outdoors at any nearby conservation area or park. Vista Ridge will offer desirable singles on 33-, 36-, 40-, 46- and 50-ft. lots, as well as two-storey townhomes on 18- to 23-ft. lots. Chateau, Tuscan and Modern elevations will be offered for the singles, while the townhomes will all boast a modern elevation. The Modern Collection is the perfect blend of contemporary and classic, with a rich dramatic colour palette, dark trim, modern windows and the
natural appeal of stone and brick. “At Vista Ridge, we are committed to working one-on-one with each home purchaser with special mobility needs to ensure that the home meets all their accessibility requirements while also providing the ability for families to remain in their homes throughout their lifetime. In fact, we have completed twenty customized accessible homes for customers with special needs,” says Fred Losani, CEO of Losani Homes. Futures communities will also offer accessibility options for barrierfree living. Losani Homes offers a sophisticated program and boutique buying process. Those interested can register online to receive emails with important community
information including the aerial site plan, amenities brochure, site plan, floorplans, and the premium features and finishes. Those interested are invited to attend a VIP Preview where they will receive a brochure package and an informative presentation. Later in the week, those who attended the Preview can book their purchasing appointment conveniently online and then attend the appointment on the weekend in a relaxing atmosphere with their own Losani sales representative. Most builders use the line-up method, which creates chaos and is quite demanding on the prospective homeowners. With Losani’s boutique, online method, interested buyers can book their appointment from the comfort of their own home.
Location
Beamsville Builder
Losani Homes Development
Vista Ridge Home Type
Single-detached homes on 33-, 36-, 40-, 46- and 50-ft. lots, and two-storey townhomes on 18- to 23-ft. lots Contact
myvistaridge.ca
Vista Ridge is set to open this spring. To receive the Vista Ridge story and an invitation to the VIP Preview, you must register online at myvistaridge.ca APRIL 1 - 15, 2017 | NEW HOME & CONDO GUIDE SWO 13
Trending
Housing sector calls on Queen’s Park to take action to address home affordability POPULATION GROWTH and a strong economy in the Greater Toronto and Hamilton Area (GTHA) have created a high demand housing market where housing supply is critically low and home prices are becoming out of reach for many families and first-time home buyers. The Ontario Home Builders’ Association (OHBA) and the Ontario Real Estate Association (OREA) are urging the provincial government to create a housing experts task force to provide ideas for increasing housing supply in Ontario, thus alleviating the growing home affordability challenges facing Ontarians. OHBA and OREA say there are four things the government can do to relieve the underlying housing supply crunch that threatens the dream of homeownership for young families and future generations:
1. Fix the “one size fits all” Growth Plan Instead of a blanket provincial preference for high density, give municipalities more flexibility and create more choice in housing for growing families and empty nesters, such as family homes and townhomes. 2. Improve the planning approvals process With better alignment of municipal and provincial housing priorities, including the requirement for updated zoning around transit corridors, we can get new homes to the market quickly in exactly the places where we want them. 3. Address the “missing middle” of housing supply There is huge opportunity to 14 YPNEXTHOME.CA
MORE TRENDING ONLINE ypnexthome.ca/news
modernize outdated zoning laws and build the “missing middle” of housing supply in existing communities that are connected to transit and closer to jobs. This includes innovative solutions like laneway housing and multi-unit homes, such as townhouses, stacked flats or mid-rise buildings. 4. Target infrastructure to support new housing supply The province should support new housing supply with targeted infrastructure investments to get more housing to the market for consumers. The OHBA and OREA agree that sustainable, long-term solutions are necessary to get to the root of the affordability problem, and it starts with increasing housing supply. Together, they are appealing to the provincial government to take stock of the housing supply problem and work with real estate industry leaders to design solutions that will improve home affordability for all Ontarians. “Ninety-five per cent of Ontario’s new housing supply is built by our industry, and new home prices reflect the market conditions affected by government policy, like municipal and provincial approvals,” says OHBA CEO Joe Vaccaro. “It only makes sense to bring together private sector expertise and government policy makers if we are serious about making homeownership more affordable.” “The Canadian dream of homeownership is at risk in the GTA,” says Tim Hudak, CEO of the OREA. “This is the year for provincial and municipal governments to step up with solutions to ensure the dream of homeownership does not slip away from future generations. The housing supply issue is a real problem, but the solutions exist. We need the government to get real estate experts together on this issue, to hammer out a plan for putting more homes on the market and making home ownership more affordable for young families and first-time buyers.”
Hot Properties
Find your next home! This page features a few of the latest properties to keep your eye on in Southwestern Ontario. Find more properties at ypnexthome.ca
LATEST LISTINGS
HAMILTON HALTON NIAGARA ANCASTER • BEAMSVILLE • BINBROOK • BRANT • BRANTFORD • BURLINGTONCATHARINES • GRIMSBY • HAMILTON • MILTON • NIAGARA • OAKVILLE • PARIS PORT DOVER • ST. CATHARINES • STONEY CREEK • VINELAND
pre-registration VISTA By: Vankleef Development Group City: Hamilton Housing type: Condos starting from $199,900 vistaoncharlton.ca
ON THE RIDGE By: Rosehaven Homes & Homes by DeSantis Location: Stoney Creek Housing type: Freehold townhomes liveontheridge.ca
TIFFANY HILL By: Rosehaven Homes & Chiaravalle Developments Location: Ancaster Housing type: Freehold towns, semis and detached homes tiffanyhill.ca
MERRITTON COMMONS
THE GATSBY
FALLINGWATERS
By: New Horizon City: Hamilton Housing type: Condos from the low $200’s gatsbycondos.ca
By: Losani Homes City: Hamilton Mountain Housing type: Two- and three-storey towns from the $400’s losanifallingwaters.com
WOODWAY TRAILS By: Eastforest Homes City: Simcoe Housing type: Singles from $329,400 and semis from $224,900 eastforesthomes.com
STEPPING STONES By: Phelps Homes City: Smithville Housing type: Two-storey townhomes phelpshomes.com
SIMPLY GRAND By: Losani Homes City: Paris Housing type: Townhomes from from the $300’s simplygrandtowns.com
SUMMERLEA WOODS
By: Phelps Homes City: St. Catharines Housing type: Attached bungalows and bungalow towns phelpshomes.com
By: Empire Communities City: Binbrook Housing type: Townhomes from the mid $300’s and detached homes from the low $400’s summerleawoods.com
VISTA RIDGE
LIFE
By: Losani Homes City: Beamsville Housing type: Singles from the $400’s myvistaridge.ca
By: Branthaven Homes City: Winona Housing type: Townhomes from the high $300’s branthaven.com
ALCONA SHORES
EXPLORE
By: Bayview-Wellington Homes City: Innisfil Housing type: Luxury singles on 32-, 45- and 48-ft. lots myalcona.com
CENTRAL PARK By: Losani Homes City: Hamilton Mountain Housing type: Townhomes from the $300’s mycentralpark.ca
TIFFANY HILL By: Rosehaven Homes, Homes by DeSantis & CDI Homes City: Ancaster Housing type: Detached homes and freehold townhomes tiffanyhill.ca
PASSAGES ON THE CANAL By: Bayview-Wellington Homes City: Welland Housing type: Luxury freehold townhomes on the Canal mypassages.ca
AVALON By: Empire Communities City: Caledonia Housing type: Townhomes from $239,990 and detached homes from the mid $300’s empireavalon.com
THE WOODLANDS ANCASTER
new openings SCENIC TRAILS By: Starward Homes City: Hamilton Housing type: Condominiums from the $290’s scenictrails.ca
AFFINITY CONDOMINIUMS By: Rosehaven Homes Location: Aldershot, Burlington Housing type: Condos from the low $300’s affinitycondo.com
THE WEST By: Adi Developments Location: Burlington Housing type: Luxury boutique condos from the $190’s adidevelopments.com
THE PRESERVE By: Mattamy Homes City: Oakville Housing type: Executive condo townhomes from the mid $800’s mattamyhomes.com
STATIONWEST
By: Losani Homes City: Ancaster Housing type: Singles on forest court lots from the $500’s woodlandsancaster.com
By: Adi Developments Location: Burlington Housing type: Three-storey townhomes at Aldershot Go Station adidevelopments.com
PURE
ELEMENTS
By: Branthaven Homes & Ballantry Homes City: Hamilton Housing type: Townhomes exploretowns.com
By: Branthaven Homes City: Milton Housing type: Two-storey freehold townhomes branthaven.com
By: Mountainview Homes City: St. Catharines Housing type: Luxury one- and two-bedroom luxury condos elementscondo.com
SAPPHIRE
LAKE HOUSE
Builders
By: New Horizon City: Stoney Creek Housing type: Waterfront condominiums from $199,999 sapphirecondos.ca
By: Branthaven Homes Location: Grimsby Housing type: Waterfront townhomes and condos lakehouselife.ca
If you would like to include your preview registration, new release or site opening in this feature, just email the details to wayne.karl@ypnexthome.ca 15
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ypnexthome.ca
Paris
Port Dover
Simcoe
Binbrook
Grimsby
Georgetown
Caledon
Smithville
Welland
Fonthill
Thorold
Ridgeway
Stevensville
Chippawa
OAKVILLE, BURLINGTON, HAMILTON, ANCASTER, PARIS, BRANTFORD, STONEY CREEK, VINELAND, LINCOLN, THOROLD, FONTHILL, NIAGARA, NIAGARA-ON-THE-LAKE, FORT ERIE
Halton / Hamilton / Wentworth / Niagara:
SEARCH ONLINE Fort Erie
D et Se . m Bu i n To gal w ow C nh o o Ad ndo me ul tL ife st yle
ADVERTISER'S MAPPING INDEX
Ancaster
LOSANI HOMES
The Woodlands Ancaster
•
Ancaster
ROSEHAVEN
Tiffany Hill
•
Beamsville
LOSANI HOMES
Vista Ridge
Brantford
EMPIRE
Caledonia
EMPIRE
Charlton
VANKLEEF DEVELOPMENT GROUP Vista Condos
Grimsby
ADVERTISERS BRANTHAVEN HOMES
PRICES
•
•
from high $700's
•
•
•
•
•
Wyndfield
•
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Avalon
•
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from $400's
7
2&3
2&3
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from $199,900
23
Lake House
•
from $400's
24
•
from low $200's
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Grimsby
HOMES BY DESANTIS
Aquazul
Hamilton
BRANTHAVEN HMOES
Explore
•
from $300's
Hamilton
LOSANI HOMES
Madison at Central Park
•
from low $300's
7
Hamilton
LOSANI HOMES
Fallingwaters
•
from high $400's
7
Lincoln
LOSANI HOMES
Lincoln Estates
from $400's
7
Niagara
BW HOMES
Passages on the Canal
Niagara Falls
EMPIRE
Imagine
Paris
LOSANI HOMES
Paris
•
24&25
•
5
•
•
2&3
Simply Grand Encore
•
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from $300's
7
LOSANI HOMES
The Peninsula
•
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from $300's
7
St Catharines
MOUNTAINVIEW HOMES
Elements
from mid $200's
9
Winona
BRANTHAVEN HOMES
Life
from high $300's
24
•
•
OAKVILLE, BURLINGTON, HAMILTON, ANCASTER, PARIS, BRANTFORD, STONEY CREEK, VINELAND, LINCOLN, THOROLD, FONTHILL, NIAGARA, NIAGARA-ON-THE-LAKE, FORT ERIE
SITES
Halton / Hamilton / Wentworth / Niagara:
LOCATION BUILDERS
17
Property Profile | ROSEHAVEN HOMES & CDI HOMES
Tiffany Hill Phase 2 A jewel of a community for everyone TIFFANY HILL IS ALREADY AN OUTSTANDING and soughtafter community in upscale Ancaster and now Rosehaven Homes and CDI Homes are getting ready to launch Phase 2, an exciting new release of singles, semis and freehold town designs loaded with luxury features and designer details never before seen in this “country chic” neighbourhood. As with all great sequels, these two great builders have upped the ante and are bringing some exciting new things to Phase 2. They are returning with their popular 36- and 45-ft. singles, they have some newly refreshed designs, and for the first time 40-ft. singles, semis and freehold towns. Many of the features are all brand new and include all of the bells and whistles you have come to expect from a quality Rosehaven or CDI home. With a range of designs to choose from, there really is something for everyone – a Tiffany Hill Home for every family. You’ll feel right at home in upscale Ancaster, where life is casually refined and welcoming. With restaurants, theatres, boutiques, spas, schools, services, shopping and recreation, 18 YPNEXTHOME.CA
everything you could want is right around the corner. Visit the Ancaster Fair or the Highland Games! Set on the Niagara Escarpment, Ancaster is next to the magnificent 1,200 hectare Dundas Valley Conservation Area. Hwy. 403 is nearby, and McMaster University and the GO Train are minutes away. All of the homes feature three- and four-bedroom designs, spacious family rooms/Great Rooms, some with gas fireplaces, perfect for entertaining. Kitchens with great workspaces and lots of counter space for cooking and family life. Second floor laundry rooms are available. Many of the designs feature master ensuites with freestanding tubs and
With a range of designs to choose from, there really is something for everyone – a Tiffany Hill Home for every family.
Location
Ancaster Builder
Rosehaven Homes & CDI Homes Development
Tiffany Hill Home Type
Singles, semis and freehold townhomes Contact
tiffanyhill.ca
large walk-in closets. There are plenty of designs to choose from to ensure every family can find the perfect home for them. Additional features you may find include nine-ft. high ceilings, granite countertops with an undermount stainless steel sink in the kitchen and oak staircases connecting the family space to the bedrooms upstairs. Exteriors feature stone, brick and stucco and create a gorgeous streetscape that welcomes you home every time you turn onto your street. Tiffany Hill is the kind of community where kids can play road hockey after walking home from their local school. Where neighbours call each other by name. Where life really sparkles. If you’re interested in living the Tiffany Hill lifestyle, demand is high, register now at tiffanyhill.ca APRIL 1 - 15, 2017 | NEW HOME & CONDO GUIDE SWO 19
Trending
Budget 2017 comes up short in addressing pressing affordability issues By Wayne Karl
BUDGET 2017 MAKES HOUSING a
priority, proposing to spend more than $11 billion over 11 years in a variety of initiatives, but so far fails to address key market related issues – again. “The housing-related allocations in this budget are principally for affordable and social housing, so the key challenge of affordability for market-rate housing, and especially for first-time homebuyers, remains an issue,” Kevin Lee, CEO of the Canadian Home Builders’ Association (CHBA), told New Home & Condo Guide. To help address immediate housing needs, Budget 2016 committed to invest $2.2 billion over two years, to give more Canadians access to more affordable housing. To supplement these investments, Budget 2016 also provided funding for low-cost loans and new financing tools to encourage municipalities, housing developers and non-profit housing providers to develop more affordable rental housing units. To build on these efforts, Budget 2017 proposes to invest more than $11.2 billion over 11 years in a variety of initiatives designed to build, renew and repair Canada’s stock of affordable housing, and help ensure that Canadians have affordable housing that meets their needs. These investments will be made as part of a new National Housing Strategy. To be released later this year, the Strategy was developed following extensive consultation with and input from provinces, territories, municipalities, Indigenous Peoples, industry experts, stakeholders and Canadians who are living with the 20 YPNEXTHOME.CA
MORE TRENDING ONLINE ypnexthome.ca/news
challenge of finding adequate and affordable housing in many of Canada’s big cities and rural and remote communities. Key elements of the Strategy will include: » A renewed partnership between the government and provinces and territories to better support key housing priorities. » A new $5-billion National Housing Fund to address critical housing issues and better support vulnerable citizens. » Targeted support for northern housing. » Targeted housing support for Indigenous Peoples not living onreserve. » Renewed and expanded federal investments to combat and prevent homelessness. » Making more federal lands available
for the development of affordable housing. » Expanded funding to strengthen Canada Mortgage and Housing Corp.’s housing research activities. A Renewed Federal-ProvincialTerritorial Partnership in Housing Budget 2017 proposes to provide approximately $3.2 billion over the next 11 years to provinces and territories to support key priorities for affordable housing. These priorities may include the construction of new affordable housing units; the renovation and repair of existing housing; rent subsidies and other measures to make housing more affordable; and other initiatives to support safe, independent living for Canada’s seniors, persons with disabilities and other individuals requiring accessibility modifications. …continued on page 22
“ I go to Tiffany. It calms me down right away, the quietness and the proud look of it ” - Holly Golightly, Breakfast at Tiffany’s
Singles, Semis & Freehold Towns New contemporary home designs, as well as updated traditional stone, stucco and brick homes work together to create pleasing streetscapes. Nature plays a vibrant part in the life of this ‘country-chic’ community traced with parks and trails, woodlands and waterfalls. Everything about Tiffany Hill is planned with a sense of community in mind; we take that kind of thing to heart.
COMING SPRING TO ANCASTER
Register now...
Visit TiffanyHill.ca RENDERINGS ARE ARTIST’S CONCEPT. E. & O.E.
21
…continued from page 20
This investment will be provided through a new, expanded, multilateral investment framework that will replace the existing Investment in Affordable Housing initiative, which is set to expire at the end of 2018-19. Housing Statistics Framework As part of the National Housing Strategy, Budget 2017 proposes to provide $241 million over the next 11 years to CMHC to improve data collection and analytics. To address data gaps in nationwide housing data, Budget 2017 also proposes to provide $39.9 million over five years, and $6.6 million per year thereafter, to Statistics Canada to develop and implement a new Housing Statistics Framework. This investment is over and above investments under the National Housing Strategy. Statistics Canada will begin publishing Housing Statistics Framework data in the fall of 2017. New National Housing Fund Budget 2017 proposes to establish a National Housing Fund to address critical housing issues and prioritize support for vulnerable citizens, including: seniors; Indigenous Peoples; survivors fleeing situations of domestic violence; persons with disabilities; those dealing with mental health and addiction issues; and veterans. Administered through CMHC, the Fund will receive an investment of $5 billion over the next 11 years. The National Housing Fund is intended to: » Encourage greater collaboration and investment in housing: To pool resources among many housing partners, including governments, the private sector and community organizations, to prioritize largescale community renewal projects. » Expand direct lending for new rental housing supply and renewal: Provide municipalities and other housing partners with sustained and improved access to low-cost 22 YPNEXTHOME.CA
Budget 2017 proposes to provide approximately $3.2 billion over the next 11 years to provinces and territories to support key priorities for affordable housing. loans for the repair and renewal of housing units, as well as for the construction of new affordable housing, through the Affordable Rental Housing Financing Initiative. This will leverage billions of dollars available for investment in affordable housing, and help improve the quality and condition of affordable housing across Canada. » Support for innovations in affordable housing: CMHC will make up-front capital contributions available to affordable housing providers. This will encourage innovative approaches to housing development, such as energy efficiency retrofits to lower utility costs, and accessibility modifications to expand the range of housing options available to Canadians living with disabilities. » Preserve the affordability of social housing: CMHC will provide temporary funding to social housing providers as they transition to more sustainable operating models. » Support a strong and sustainable social housing sector: CMHC will also establish a Sector Transformation Fund and Technical Resource Centre to provide technical assistance, tools and resources to help social housing providers transition to more efficient and financially sustainable operating models. Further details about the National Housing Fund will be announced as part of the launch of the National Housing Strategy later this year. “As expected, this budget allocates social infrastructure money to priorities that the government has identified to help those in housing need, but it also wisely holds some back for the complete National Housing Strategy later this year,” says Lee. “This will allow for more
innovative solutions, which are needed to make public dollars go the furthest, for the most people, in the most effective ways.” Given the challenges facing firsttime homebuyers, more mechanisms to support well-qualified buyers are still needed, to ensure young families are not locked out of homeownership. “CHBA will continue to make recommendations through the National Housing Strategy process, and other initiatives, that can get to the root problems of housing affordability and fix them,” says Lee. Examples would include addressing housing supply issues, and curbing the excessive regulation and red-tape that keep family-oriented housing from being developed at sufficient pace, in sufficient numbers, at a price people can afford. Despite that affordability for market-rate housing wasn’t addressed in Budget 2017, there has been a gross lack of data in Canada on key aspects of the housing market, Lee says. “More data gathering and analysis that can support sound policy decision-making to best address affordability challenges are welcomed by CHBA, and were a specific recommendation from our association.” “We would have liked to have seen a strategy around how the government will give relief to firsttime home buyers, especially in areas in and around our major cities where the greatest percentage of Canadians live,” says Christopher Alexander, regional director at ReMax Integra, Toronto. “While the data collected through the Housing Statistics Framework will help guide future decisions, there is not much in the plan as to what action could be taken in the immediate future to help first-time buyers access the market, especially in regards to the serious supply issue in Toronto right now.”
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APRIL 1 - 15, 2017 | NEW HOME & CONDO GUIDE SWO 25
Trending
Mismatch between housing supply and demographic demand in Canada THERE’S A QUESTION looming over every homebuyer, seller and real estate watcher in the Greater Toronto and Hamilton Area: what’s behind the housing affordability crunch? Following an in-depth analysis, the Canadian Home Builders’ Association (CHBA) has identified some key factors behind current housing market conditions. The research report, The Housing Supply Deficit – Not Enough Homes for Families with Young Children, points to a significant and growing mismatch between housing demand and what home builders are able to supply, given planning and zoning patterns and the lack of available serviced land. The report also comes with a warning: if current trends continue, Canada will see a shortfall of 300,000 family-oriented homes in the next 10 years. According to CHBA’s data, demographic factors are driving demand for lowrise houses suited to young, first-time home-buying families, as Canada experiences a “baby boomlet.” Simultaneously, aging Baby Boomers and older Canadians are not downsizing from their detached homes in the numbers predicted, opting instead to age-in-place. In fact, many Boomers are actually trading up to larger single-family units, creating a more-pronounced shortfall of lowrise homes. “There has been a lot of commentary around what’s driving house prices in markets like the GTA and Vancouver. Much of this overlooks the fundamental factors of supply and demand, and the increasing number of young families trying to achieve home ownership,” says CHBA CEO Kevin Lee. “CHBA’s research shows that current 26 YPNEXTHOME.CA
MORE TRENDING ONLINE ypnexthome.ca/news
patterns of urban development fail to address the needs of young families... There is a distinct lack of higherdensity, ground-oriented homes they can afford, such as townhomes, stacked towns and similar housing formats. This is the ‘missing middle’ in our largest and fastest-growing communities,” Lee adds. The effects of the lowrise shortfall are further amplified by supply constraints, including lack of infrastructure and developable land, development restrictions, NIMBYism, and municipal policies favouring highrise development. Canada has seen a 27-per-cent drop in the construction of lowrise homes since 2007. The fastest-
growing markets are experiencing a much more dramatic decrease. In the GTA for example, inventory of lowrise homes dropped 89 per cent in the last decade, and sits at historic lows. There is a particular shortage of higher-density, lowrise attached homes offering access to transit, which increasingly represent the “missing middle” of urban housing stock. “In markets experiencing strong economic growth and in-migration, these supply factors are a big part of what is fueling rapid price appreciation within the groundoriented housing segment. While some observers look for other explanations, and there are indeed other contributors, the ‘law’ of supply and demand remains pervasive,” Lee adds. “What we are seeing is the Millennial generation really struggle to find a place to live and raise their families in our largest cities, and this has worrying longerterm implications for them, these communities, and the economy at large. “Although there has been a lot of focus on trying to dampen prices, a big part of the solution is enabling a housing supply response. We’re not talking about ‘sprawl’ here, just about building smarter communities, including infill projects and transitoriented development, that young families find welcoming and manageable with young children.”
Hot Properties
Find your next home! This page features a few of the latest properties to keep your eye on in Southwestern Ontario. Find more properties at ypnexthome.ca
LATEST LISTINGS
LONDON
Housing type: Single-family homes at Hamilton Road & Commissioners Road East. stonecresthomes.ca
BAYFIELD • BLYTH • CLINTON GRAND BEND • INGERSOLL • LONDON MITCHELL • SEAFORTH • SHAKESPEARE ST.THOMAS • STRATFORD • TAVISTOCK TILLSONBURG • WINGHAM • WOODSTOCK
new openings
pre-registration
CASTLE ROCK PLACE
140 CALEDONIA By: The Tricar Group City: Stratford Housing type: Four-storey boutique style condominiums from the high $200’s. tricar.com
VICTORIA ON THE RIVER By: Stonecrest Homes City: London
HALTON HILLS WELLINGTON WATERLOO ALMA • AYR • CAMBRIDGE • ELORA FERGUS • GEORGETOWN • GUELPH KITCHENER • ROCKWOOD • WATERLOO
pre-registration GRANGE HILL POINT By: Reid’s Heritage Homes City: Guelph Housing type: One- and two-bedroom condominiums from the low $200’s reidsheritagehomes.com
By: Rembrandt Homes City: London Location: 3444 Singleton Ave., off Southdale Housing type: Two-storey and mulit-level condominium townhomes from $231,990. rembrandt-homes.ca
new releases HAVELOCK CORNERS By: Senator Homes City: Woodstock Housing type: New release of 42- and 50-ft. singles from the low $400’s senatorhomes.com
BALDWIN PLACE FOX FIELD By: Fusion Homes City: London Location: Fanshawe Park Road West and Foxwood Avenue
WESTWOOD MEWS By: CountryGreen Homes City: Kitchener Housing type: Urban townhomes up to 1,365 sq. ft. countrygreenhomes.com
WILDFLOWERS By: Mattamy Homes City: Kitchener Housing type: Townhomes and 30and 36-ft. detached homes. mattamyhomes.com
ISHERWOOD AVENUE CONDOS By: Activa Group City: Cambridge Location: 25 Isherwood Avenue Housing type: Condo community activagroup.ca
CLAIR MEADOWS By: Gatto Homes City: Guelph Housing type: Townhomes and singledetached homes gattohomesinc.com
Housing type: Single-family homes from $482,900 fusionhomes.com
Builders
By: Tillsonburg Developments City: Tillsonburg Housing type: Detached freehold bungalows from $277,000. baldwinplace.ca
new openings THE ENCLAVES OF UPPER CANADA By: Menkes City: Georgetown Housing type: New release of 40-ft. lots from the low $800’s menkes.ca
VICTORIA COMMON By: Losani Homes City: Kitchener Housing type: Final release of modern townhomes from the $300’s losanihomes.com
CLAIRITY By: Reid’s Heritage Homes City: Guelph Housing type: One- and two-bedroom condominiums from the mid $200’s reidsheritagehomes.com
If you would like to include your preview registration, new release or site opening in this feature, just email the details to wayne.karl@ypnexthome.ca APRIL 1 - 15, 2017 | NEW HOME & CONDO GUIDE SWO 27
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Elmira
ypnexthome.ca Plattsville
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Baden
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Acton
STRATFORD, WOODSTOCK, INGERSOLL, TILLSONBURG, ST. THOMAS, STRATHROY, MILTON, GEORGETOWN, ROCKWOOD, GUELPH, FERGUS, ELORA, ALMA, CAMBRIDGE, KITCHENER, WATERLOO, AYR
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Advice | TARION REPORT
How Tarion protects your new home deposit By Howard Bogach
MORE ADVICE ONLINE ypnexthome.ca/news/advice
UNDER ONTARIO’S New Home Warranty, condominium purchasers have deposit protection up to $20,000. They have added protection by virtue that the builder must hold all monies received in trust. While condominium buyers are well protected, there are still instances where a buyer’s deposit money is improperly released from a trust account by a lawyer. Thankfully, this is a rare occurrence, but given that March was Fraud Prevention Month, it is one that merits some discussion. Under the Condominium Act, deposits paid by a buyer as part of the purchase of a condo must be held in trust. These deposits must be held by a satisfactory trustee (usually a lawyer) and cannot be released except in very narrow circumstances (such as when alternative third-party security is given to the purchaser). So, condo purchasers in Ontario have fairly good and reliable protection for their deposits. Short of real negligence or fraud, if the builder becomes insolvent, these deposits will almost certainly be available to reimburse the buyer if the purchase agreement is canceled because of the builder’s inability to complete the project. That said, in very rare circumstances these condominium deposits held in trust can be improperly released by the person entrusted with holding the monies for the buyers. A recent example of this happened in connection with a development 30 YPNEXTHOME.CA
project known by many as Centrium. In that case, most of the deposit money for residential condominium units were deposited with a reputable Toronto law firm. When the project failed, most of the residential unit purchasers had their deposits returned. However, as it turned out, some condo unit deposit money had been given to another lawyer, Meerai Cho, and when the project was canceled, she did not return the residential buyers’ deposits. According to a police news release, Cho was arrested and charged with numerous counts of fraud over $5,000, possession of property obtained by crime over $5,000, and breach of trust. Just recently, she pleaded guilty to one count of criminal breach of trust and was sentenced to 3.5 years in custody. Where loss is due to lawyer fraud, the Law Society of Upper Canada has a compensation fund that can help aggrieved purchasers receive all or
part of their losses. In addition, and as mentioned earlier, the Ontario New Home Warranties Plan Act authorizes payment of up to $20,000 per unit for deposit losses. The upshot is this: if bad actors are prepared to commit criminal fraud, it is very difficult to prevent this from happening. Fortunately, this is a rare circumstance, perhaps because the consequences can be significant, as is the case with Cho. Even in cases of fraud where a purchaser has lost deposit money, buyers should be aware that they can turn to Tarion as the administrator of Ontario’s new home warranty program with questions and as a source of relief. Howard Bogach is President and CEO of Tarion Warranty Corp. His column appears monthly in New Home Guide. For more information about how Tarion helps new-home buyers, visit tarion.com or find us on Facebook at facebook.com/TarionWarrantyCorp.
Homes built for life.
You have your shining star. We have ours. While your star is bursting with energy, ours saves you energy. But your washer and dryer aren’t the only place our star shines. Every inch of a Sifton home is Energy Star certified and is built to make your space more comfortable and sustainable.
EnerQuality Environmental Stewardship Award Winner. • Higher Efficiency HVAC • Heat Recovery Ventilation • Drain Water Heat Recovery
• Low E-Argon Windows • Foam Insulated Doors • Increased Insulation
519.850.0756 Sifton.com
Advice | MORTGAGE ADVICE
5 things to consider before getting a mortgage By Alyssa Furtado
MORE ADVICE ONLINE ypnexthome.ca/news/advice
SEARCHING FOR a new home is exciting. But with so many things to consider, the process can quickly become overwhelming. Here are five things to consider before you get a mortgage.
Can you afford to buy a home? The first thing to consider is how much you’re willing to spend on a home. Lenders will use a formula to determine how much they’ll loan you. The first one, called the gross debt service (GDS) ratio, suggests that potential housing costs, including mortgage payments, taxes and utilities, should not exceed 32 per cent of monthly income before taxes. The total debt service (TDS) ratio, which adds lines of credit, car and credit card payments on top of your housing expenses, shouldn’t exceed 40 per cent of your income. What is the term? Lenders provide mortgages over a specified period of time, known as the term. While the most common term is five years, they can range from as little as six months to 10 years. Once the term is up, you can renew or renegotiate your mortgage with your lender or shop around for a better rate. A shorter one- or three-year term can provide flexibility as market conditions and interest rates change. Fixed or variable rate? A fixed-rate mortgage guarantees that the interest rate stays the same over 32 YPNEXTHOME.CA
the mortgage term. Knowing exactly how much to pay over a defined period is less stressful and can be easier to incorporate into a budget. The interest rate on a variablerate mortgage, on the other hand, fluctuates depending on a bank’s prime lending rate. As interest rates change over the term, the amount of your payment that goes towards interest will rise or fall. If you have an adjustable payment, the amount will change if interest rates increase or decrease. While the interest rate on a variable-rate mortgage is generally lower than a fixed-rate mortgage, there’s a risk that rates could rise. How long do you want to make payments? The time it takes to pay off the entire mortgage is called the amortization period. In some cases, these extend to more than 30 years but are capped at 25 years for buyers with down payments of less than 20 per cent. Longer amortizations result in lower payments until the entire balance is paid off. While this might seem attractive, it also means you’ll pay more interest over time. Shorter amortizations have the opposite effect.
How often do you want to make payments? There are several payment schedules to choose from – monthly, semimonthly, biweekly, accelerated biweekly, weekly or accelerated weekly. If you’re looking to pay off your mortgage quickly, more frequent payments can save on interest. If you choose to make accelerated payments, you’ll make the equivalent of one additional monthly payment a year. This can shave years off the amortization. The bottom line It can be easy to get caught up in the excitement of homeownership, but such a large debt shouldn’t be taken lightly. Shop around and compare rates, and weigh the different options. Finding an affordable home coupled the right term, interest rate, amortization and payment frequency will help you save on interest and pay off the mortgage sooner. Alyssa Furtado is founder and CEO of RateHub.ca, a website that compares mortgage rates, credit cards, deposit rates, and insurance with the goal to empower Canadians to search smarter and save money.
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baldwinplace.ca APRIL 1 - 15, 2017 | NEW HOME & CONDO GUIDE SWO 33
City Focus | MILTON
Go west, go west… TO MILTON Small town allure, big city amenities BUYERS LOOKING FOR NEW LOWRISE HOMES IN and around the GTA, and feeling priced out of the Toronto market, are heading west… to Milton. Once little more than a Victorian village surrounded by a township of farms, in the last few decades this formerly sleepy community has become an appealing destination for commuters.
Lifestyle Refreshingly modern yet traditional, Milton attracts healthy, happy, outdoorsy types. The city’s new Leisure Centre sees a lot of indoor use by active families. Milton’s commitment to preserving its historic core and beautiful natural surroundings will ensure that it doesn’t become just another faceless suburb. Community involvement has led to some excellent cultural developments (the Arts and Leisure Centres were both driven by public efforts) and you get the sense that this city is what other growing municipalities will be like 10 or 20 years from now. Vibe Hailed as Canada’s Fastest-Growing City, Milton’s population rose by a whopping 56.5 per cent between 2006 and 2011. The differences between the original core and the massive housing developments surrounding it are largely architectural. The influx of new exiles from city life has led to improved shopping and dining options in the area, as well as new parks, arts and leisure centres.
34 YPNEXTHOME.CA
Meet the neighbours Milton is a diverse community, in terms of both ethnicity and age. While the majority of residents are white and English speaking, there is a large South Asian community and growing black, Latino and East Asian populations. Younger families, as well as multigenerational ones, are drawn to the area for its excellent schools and affordable housing options. The small-town community spirit doesn’t seem to have been diminished by population growth in Milton, and locals describe it as a very friendly place where neighbours are happy to help each other. In the area In the shadow of the Niagara Escarpment, Milton is an excellent place to access the Bruce Trail. If you’re not up for a hike all the way to Tobermory, there are beautiful trails to be enjoyed in Conservation Halton’s many areas, including Mount Nemo, Mounstberg, Rattlesnake Point, Crawford Lake, and Kelso. The Glen Eden Ski facility and Mohawk Raceway are extremely popular seasonal destinations for
The small-town community spirit doesn’t seem to have been diminished by population growth in Milton locals and tourists alike. Milton is home to 14 public and eight Catholic elementary schools, as well as four high schools (two public, two separate). The Milton Public Library has two main branches, and the Milton District Hospital is located on Derry Road. Planes, trains & automobiles Located just 40 km west of Toronto via Hwy. 401, Milton is a great choice for commuters by car, train or bus – it’s also the western terminus of the GO line. Within town, cycling and driving appear to be the most popular options, due to the extreme expansion of the city in all directions. Milton also has its own public transit system. The good, the bad & the rest Uniquely positioned between the Niagara Escarpment and an access point to the Bruce Trail, Milton often has to navigate its way through heritage and preservation issues. This doesn’t always sit well with residents, who can’t understand why the Costco they moved for hasn’t been built yet. The old downtown has a great deal of character, and some effort has been made to recreate that classic feel. Real estate Milton isn’t Toronto; it isn’t even Mississauga, so anyone coming from the city (or close to it) will find the cost of living comparatively reasonable. You’ll find most upscale restaurants and boutiques downtown and in the new shopping area near James Snow Parkway and Hwy. 401. It’s impossible to drive through Milton and not gain an appreciation for contributions of new home builders such as Mattamy Homes, which has a new townhome community, Hawthorne South Village, underway here. Mattamy and its founder and CEO Peter Gilgan played vital roles in the development and construction of the Mattamy National Cycling Centre, which hosted the Toronto 2015 Pan-American Games last July. The facility, Canada’s only UCI-approved 250-m indoor velodrome, is now the home training base for Canada’s National Track Cycling program.
APRIL 1 - 15, 2017 | NEW HOME & CONDO GUIDE SWO 35
Inspiration | DESIGN SECRETS
BLINDS: SEEING THE LIGHT… OR NOT! By Jane Lockhart
THE TOPIC OF BLINDS (hey, stop
snoring!) may not sound exciting, but window coverings and blinds, in particular, are an important part of the function and decor of our homes. Blinds may not be sexy, animated or extreme but they are exciting. We’ve been covering our windows for centuries. Before the 1600s, tapestries were used to cover both walls and windows to maintain heat within and to limit dampness in stone castles or palaces. Interior window shutters were used later through the 1700s, paired with glamorous drapery – again, not really for privacy but to maintain heat inside. 36 YPNEXTHOME.CA
Glass windows as we know them today are a relatively new invention, and having natural light within homes wasn’t really a “thing” until Victorian times with the popularity of architectural structures such as the Crystal Palace at London’s World Fair. From this the idea of having a lot of windows took off, as did the need for privacy from the teeming streets of burgeoning industrial cities. But maybe history holds no interest for you as far as it relates to blinds, so let’s get personal. Remember that first apartment you rented that had no blinds at all? To avoid your creepy neighbor, you either ended up
covering the window with garbage bags, or yes, even the Canadian Flag. See? You notice blinds when you don’t have them. So, here is a quick, blind checklist of what to look for, depending on what window you need to cover. I can promise you that every option has personality and will contribute to your space. For large windows in condos where you need sun and UV reduction, consider roller screens. These are modern and slick and come in lots of colours. For more texture on a window or to warm up the feel of a room, select a Mandalay style or
Silhouette by Hunter Douglas. It features horizontal veins or lines within the blind mixed with a sheer fabric. These veins move like a shutter, but the look is much lighter. Blackout blinds do exactly what the name implies: no light can penetrate their surface. This is good in bedrooms where darkness is required at any time of day. Matchstick or bamboo blinds are made of thin wood or woven grasses and add texture to the blind and can add pattern to a room. Shutters are still popular and make an excellent choice in bathrooms or places that you want good privacy and easy operation. An alternative to shutters is wood slat blinds. They look like shutters, only they are operated on a pull string. Less durable than shutters, these blinds are cost effective. Still not convinced? Check out a few websites such as merablinds.com, alluredecor.ca or hunterdouglas.ca to see how blinds can add to the look and comfort of a room. And this is the mastery of blinds: They provide that elusive concept of comfort by altering heat and light, texture and sound. All this in one simple product, and yet we don’t celebrate the simplicity and power of the blind. Fascinating, right? Now the next time your home is baking in the hot sun and you wonder why your electrical bill is so high, maybe you will reach for the blind rather than the thermostat.
Jane Lockhart is founder and principal designer of Jane Lockhart Interior Design. She was creative director and host of W Network’s top-ranked show, Colour Confidential, and has a Canadian-built furniture collection, Jane by Jane Lockhart, by Statum Designs. Visit online at janelockhart.com
APRIL 1 - 15, 2017 | NEW HOME & CONDO GUIDE SWO 37
Inspiration | STYLE FILE
Making your new backyard into the...
PERFECT SPACE By Lisa Canning | Photos by Larry Arnal
Creating your outdoor space can be a significant investment – and one you want to get right the first time. But with some strategy and great planning, you can create an outdoor oasis your family will love. It’s never too early to get started. Here are my tips to help you plan your outdoor renovation like a pro. 1. Determine your entertaining zones Very similar to how I would design any interior space, think about the “zones” or activities you want in your backyard. For example, do you want a place for lounging, eating, kids to do crafts, kids to play sports, space to prep meals or a pool? Figure out your priorities and then divide your space accordingly. Consider using pavers to create these unique zones. We created contrast strips of light and dark grey to create 38 YPNEXTHOME.CA
a special spot for our Weber Gas Grill, which we positioned very close to both seating areas, making meal prep and entertaining a breeze. 2. Determine your budget Set an actual budget, because unlike interior design, I would say there is less variety in cost of materials in outdoor goods. Meaning, with a chair for example, you can search long and hard and find something you like that
also might fit your desired budget. For outdoor materials, I would say you are simply more limited. So one must be even more strategic in spending their budget wisely. One strategic way I maximized my budget in my backyard was by using affordably priced furnishings and decorative items from Walmart. With coordinated collections you can add fun pops of colour and high style without breaking the bank.
DEFINE ZONES
3. Determine how high maintenance you want the space to be Whether you love to garden or don’t know your weeds from your flowers, pick materials that will serve your family best. I purposefully limited areas for grass and only planted flowers and plants that would be hearty and stand up to my rough-and-tumble children. For seriously low maintenance lawn mowing, check out the Husqvarna Automower, where you can literally put your feet up while your grass gets cut. 4. Create a colour scheme The same way I always allow a pillow, drapery fabric, or piece of art work inform my colour palette in my interior work, do the same for the exterior. In my case, I wanted the space to read very minimal, so we kept all the materials very neutral and cooler in tone. And then with my accessories we stayed with a palette of navy, teal and lime green, in keeping with some of the textiles and fun dish ware. The pop of colour against an otherwise neutral background is fun and youthful. Ensure you repeat a colour multiple times for the most cohesive look. 5. Consider integrating technology The final thing to consider to really look like a pro is technology. There are so many options for integrating sound into your backyard, but don’t let sound be the only thing you consider. Consider bringing in WiFi to make the space your outdoor office, a projector to turn any evening into a movie night, and – where space allows – a television integrated into a built in covered unit for real “wow” factor. And regardless, make sure you run power back there so you can plug in an outdoor air cooler like this one by Honeywell – because how awesome is that for your guests!
MORE INSPIRATION ONLINE ypnexthome.ca/news/inspiration
COOL DOWN
Source guide: Loveseat, arm chairs, coffee table, lanterns, decorative pillows, bar cart, blankets, towels, green planters, umbrella, carpet for picnic, outdoor cups, plates, platters: Walmart Genesis gas grill: Weber Outdoor air cooler: Honeywell Custom outdoor table: One One Eleven Designs Artificial grass: The Home Depot Black pergola: Lowe’s
Lisa Canning is an interior design consultant in Toronto Canada. Read more about her family friendly approach to design on her blog, lisacanning.ca
APRIL 1 - 15, 2017 | NEW HOME & CONDO GUIDE SWO 39
Inspiration | STYLE FILE
BUDGET-FRIENDLY
spring style updates By Jo Alcorn
Each year as spring approaches, I typically see a surge of homeowners wanting to spruce up their homes. There are so many easy and affordable things people can do to dramatically update their home while keeping function, style and budget top of mind.
Consider swapping out some accessories for lighter, brighter options. I love working with white on white (all different tones and shades of white) to create a fresh, bright palette. Flowers are mandatory too – I cannot live without flowers – and they scream spring! Feeling the itch for a more dramatic change this spring? I’ve recently launched a new line of Jo Alcorn wallpaper in patterns that are guaranteed to give your mood a lift and make you feel like you’ve made a dramatic change with a little DIY magic.
Think you have to turn off your fireplace and forget about it until fall rolls around? Think again! Dimplex has stunning units that operate with no heat. You can keep them on during the spring and summer on cool, rainy days when you want that comfy, cosy feel of a fire but without the heat. This unit that I recently styled is a new type from Dimplex called Revillusion. It can run all summer long with a no-heat option to keep a romantic, relaxing feel going strong in the warmer months. …continued on page 42 40 YPNEXTHOME.CA
APRIL 2017
Stouffville
Thornhill
West Brampton
Kleinburg
Model Home Photo Compliments of Fieldgate Homes | www.fieldgatehomes.com
Aurora
South Caledon
Richmond Hill
Pickering
FIELDGATE HOMES
West Brampton
West Whitby
This 3,448 sq. ft. Bazille model home is a spectacular luxury residence with an additional 1,500 sq. ft. of finished lower level. Elegantly appointed by an expert interior design team, you can find endless inspirations for your new Fieldgate home. Kleinburg, Ontario
Fieldgate Homes has been featured as “Model HOME Of The Month� as seen in the New Home Guide model home calendar
…continued from page 40
If you have an electric fireplace, or even a wood-burning unit, you can redecorate it to match your spring decor. HomeSense is my go-to when I want to easily change any decor with very little expense. For mantel decor in the warmer months, I recommend light, airy and fun accessories.
If you have open shelving or glass cabinet doors, another option to update your space is to change your glassware and plates. I love to pull these out early in the season and get them on display for an instant spring-time feel. And I’m all for making it feel like the warmer months will be here soon! Walmart has a great selection of outdoor plates and glasses that are sure to please.
Spring is always a great time to organize and make small changes that will add huge functionality to your home. Adding soft-close hardware and drawer organizers can sometimes make it feel like you have a brand new space. GRASS, a manufacturer of soft-close drawer and cupboard systems, has a new line called Tavinea which is an interior drawer system that is modularly built so it can easily be tailored to your personal specifications. The days of the junk drawer will be limited after this addition.
Spring really does inspire us to organize, air out, and freshen up, but a spot that people often overlook is the laundry area. I assure you, if you spend a bit of time to organize it properly, you can be far more efficient when you’re in there and have the bonus of enjoying that space! I love baskets from Bouclair to hide all the bits and bobs, cleaning supplies and other things that make the household tick.
There is no easier, more stylish way to change up your living space than by adding in pillows. “The more, the merrier,” I always say! My pillow collection is fully washable (you toss the entire pillow – cover and stuffing – into the washer!) hypoallergenic and made in Canada.
Jo Alcorn is a celebrity designer specializing in small spaces and design solutions for all budgets. She is the interior expert on HGTV’s new show, Critical Listing, and shares her expertise regularly on TV and through her monthly column at the Toronto Sun. Visit whitewashco.ca
42 YPNEXTHOME.CA
Homebuyers’ Help
Compare mortgage rates for your best deal CHARTERED BANKS
variable
ATB Financial
2.2
Alterna Bank
2.25
Bank of Montreal
2.6
Bank of Nova Scotia
2.9
CIBC
2.7
6 months
1 year
2 years
3 years
4 years
5 years
4.1 4.10op 4 6.30op
3.04 4.10op 2.79 6.30op 3.09 6.95op 3.29 6.50op 2.84 6.35op 3.14 3.14 6.35op 2.64 3 3.20op 3.14 6.70op
2.39 4.10op 2.74
2.64
2.69
2.79
2.64
2.65
2.68
3.19
3.59
4.09
2.89
3.09
3.39
3.89
4.64
2.79
2.69
4.09
4.79
3.04 2.15
3.65 3.39
4.39 4.09
4.64 2.35
2.64 2.94
2.64 2.84
3.19 2.94
3.29 2.99
3.04
3.39
2.74
2.79
2.79 2.39
3.34 2.64
3.99 2.74
4.44 2.79
2.84
3.44
2.69
2.89
3.24
3.49
3.69
3.79
6.95op 4.55 6.45op 6.95op
Equitable Bank HSBC Bank Canada
2.35
ICICI Bank Canada Manulife Bank
2.75 2.7
National Bank
n/a
President’s Choice Finan Royal Bank
2.7 2.7
TD Canada Trust
2.6
Tangerine
2.7
4.45 6.20op 4.45 4.4 6.70op
7.00op
2.99 7.00op 3.04 4.00op 3.19
TRUST COMPANIES Community Trust
n/a
6.5
3.14
3.25
3.95
4.39
4.64
Effort Trust
n/a
4.45
3.35
3.5
3.7
4.3
4.35
6.30op
6.30op
Home Trust
2.35
3.95
2.69
2.14
2.59
2.74
2.84
Investors Group Trust
n/a
4.2
3.14
3.09
3.39
3.89
2.84
6.50op
6.30op 3.09
3.39
3.89
4.64
2.74
2.64
2.84
2.74
2.89
2.95
2.99
2.89
2.64 2.99
2.64 2.99
2.84 3.1
2.89 3.14
3.2
3.65
4
4.5
2.79
3.39
3.89
2.69
3.04 2.85
3.15 2.95
3.89 3.05
3.89 3.15
2.39
2.49
2.59
2.69
MTCC
2.9
4.55
3.29
6.45op
6.50op
4 6.30op 6.2 6.40op 3.1 4.25 6.50op
2.79 6.30op 2.84 6.30op 2.64 2.89 6.50op 3.25 6.25op 2.84 6.30op 3.14 2.8 2.95op 2.39
OTHER FINANCIAL INSTITUTIONS Alterna Savings
2.28
Comtech Fire C.U.
2.6
First National Fin. LP IC Savings
2.7
Luminus Financial
3.25
Meridian Credit Union
2.3
PACE Savings & C.U. Parama Credit Union
2.65
Steinbach Credit Union
2.25
5.05
ONLINE CALCULATOR ypnexthome.ca/mortgage-calculator Notes: **Interest rate charged subject to adjustment during term mortgage. Please consult institution for term of years available. All rates are prime rates and subject to change without notice. R.O.R. RATES ON REQUEST op OPEN ----- NOT QUOTING N/A NOT AVAILABLE April 1, 2017. Prepared By Fiscal Agents Financial Information Services 905.844.7700
APRIL 1 - 15, 2017 | NEW HOME & CONDO GUIDE SWO 43
Ad Index
ADVERTISERS
Bayview Wellington - Alcona
4
Bayview Wellington - Passages on the Canal
5
Branthaven Homes - Corporate
Empire Communities - Multi-Site
Homes by DeSantis - AquaZul
Losani Homes - Madison at Central Park
24 & 25
2&3
11
7
Mattamy Homes - Topper Woods
47
Mountainview Homes - Elements
9
Reid’s Heritage Homes - Woodlands Preserve
BC
Rosehaven Homes - Tiffany Hill
21
Sifton - Corporate
31
Tillsonburg Developments - Baldwin Place
33
Vankleef Development Group - Vista Condos
23
44 YPNEXTHOME.CA
Advice | FUNDAMENTALLY SPEAKING
It’s a different kind of spring this year By Wayne Karl
MORE ADVICE ONLINE ypnexthome.ca/news/advice
SPRING HAS SPRUNG, and while it’s
normally an occasion to celebrate, with days growing longer, weather getting warmer and real estate heading into busy season, everything feels a little different this year. Canada’s real estate markets are dealing with a myriad of issues. In Ontario, it’s an acute supply shortage, skyrocketing prices and a resulting affordability crisis. In BC, a compositional shift towards softer sales and slowing price growth. In Alberta, it’s all about recovery, as the province and housing sectors claw their way out of two or three years of economic quagmire. Other provinces are dealing with their own economic- and marketspecific challenges and opportunities. Against this backdrop, add the delicate and often confusing issue of policy. In Ontario, for example, the provincial government is facing hard lobbying from multiple sources – chief among them the Ontario Home Builders’ Association, Ontario Real Estate Association, and the Building Industry and Land Development Association – to, in short, make more land available on which to build lowrise homes. And to speed up the approvals process. The Canadian Home Builders’ Association (CHBA) is also growing more vocal. It recently released an in-depth analysis of key factors underlying housing market conditions. The Housing Supply Deficit – Not Enough Homes for Families with Young Children, points to a significant and growing
mismatch between housing demand and what the residential construction industry is able to supply, given planning and zoning patterns and lack of available serviced land. The report notes that if current trends continue, Canada will see a shortfall of 300,000 family-oriented homes over the next decade. “There has been a lot of commentary around what’s driving house prices in markets like Vancouver and the GTA,” says CHBA CEO Kevin Lee. “Much of this overlooks the fundamental factors of supply and demand, and the increasing number of young families trying to achieve homeownership.” In Toronto, having seen how effective a foreign buyers’ tax in Vancouver was to cooling a potentially overheating market there, the City is considering taking similar action. Something… anything might be better than to let double-digit price growth continue unchecked, proponents say. But, critics argue, slapping a tax on foreign purchases is short-sighted and will do nothing to facilitate a long-term solution to increase the supply of new homes. If all of this wasn’t complex enough, add the prospect of the National Housing Strategy. Due out at some
point this year, this federal initiative will attempt to address the varied and challenging issues, involving differing provincial and regional economies, housing markets and conditions, from affordable housing to rental markets to homeownership. Until then, we were looking to the 2017 federal budget, tabled on March 22 to see what, if anything, Ottawa would include to begin tackling some of these challenges. Budget 2017, while making housing a priority by proposing to invest more than $11.2 billion over 11 years in a variety of initiatives, still comes up short on addressing affordability for first-time buyers. “The housing-related allocations in this budget are principally for affordable/social housing, so the key challenge of affordability for market-rate housing, and especially for first-time homebuyers, remains an issue,” Lee told New Home & Condo Guide. 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@ypnexthome.ca or follow him on Twitter at Twitter.com/ WayneKarl APRIL 1 - 15, 2017 | NEW HOME & CONDO GUIDE SWO 45
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Mattamy Townhome Interior
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ReidsHeritageHomes.com *All renderings are artist’s concept. Prices and specifications subject to change. See sales consultant for more details. E. & O.E. March 2017