floor plans offer a large storage features a 22,000-sq.-ft. facility and seven-acre gated park site in the heart ofroom in the basement, which some the community.customers are using as a home gymor storage off the garage. The location provides Riverstone residents with easy access to Stoney and Deerfoot Trails, and there is a wide range of shops, services and eateries all Brookfield offers a variety of close at hand.possession time lines includingimmediate possession and homes Brookfield is currently offering a special promotion until the end of April,that still provide buyers with the providing buyers with a $10,000 upgraded garage package. Ask your salesopportunity to personalize and representatives for more details.add upgraded options such asquartz countertops and glass tile For more information on Mosaic Riverstone, visit the Slate II and Olive IIbacksplashes. showhomes, at 96 and 98 Cranbrook Dr. S.E., open Monday to Thursday, The exteriors have a stucco finish 2 to 8 p.m.; and Friday, weekends and holidays, noon to 5 p.m. Callwith stone details to complement 403.457.5980 or visit livebrookfield.com/Riverstonethe natural landscape of Riverstone.The site itself is located across Slate IIfrom a park and is surrounded bygreenspace, and the interior areawill be professionally landscaped,creating a park-like feel. The homes have also beendesigned so each offers views ofthe river valley and it’s an incredibleamenity-rich location to live in.Riverstone offers residents aconvenient and active lifestyle withthe Bow River, Fish Creek Park, andnumerous parks and pathways justoutside their doorstep. It’s also in theestablished community of Cranston,so residents can enjoy amenitiesincluding Century Hall, whichThe site itself is Hunterlocated acrossfrom a park andis surroundedin green spaceand the interiorarea will beprofessionallylandscapedcreating a park-like feel. NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 39
IN THE NEWS Calgary – still one of the mostaffordable housing markets in CanadaThe state of Alberta’s housing Wright, senior vice-president and chief economist, RBC. “While we have yet affordability, while still to see this translate into widespread price declines, the earlier strong rate of generally positive, is being property appreciation moderated substantially in Q4.”overshadowed by the effect ofplunging oil prices on confidence in The RBC housing affordability measures, which capture the province’sthe market, according to the latest proportion of pre-tax household income needed to service the costs of owningHousing Trends and Affordability a home at market values, remained mostly unchanged in the fourth quarter (aReport from RBC Economics. decrease in the measure represents an improvement in affordability). The report, on the fourth quarter RBC’s affordability measures for Alberta were stable for both two-storeyof 2014, indicates that home resales homes (33.9 per cent) and condos (20.4), while the measure for detachedin the province plummeted during bungalows eased by 0.4 percentage points to 32.4 per cent. AffordabilityDecember and January, falling 35 per continued to be fairly attractive from a historical perspective and compared tocent cumulatively following a strong other provinces.summer and early fall. Housing affordability in Calgary actually improved in the fourth quarter “We’ve also seen evidence of 2014, though cutbacks in the oil industry contributed to a drop in housingof shaken confidence in Alberta’s market confidence.housing market on the supply sidewith listings surging,” says Craig RBC’s measures for Calgary fell 0.2 percentage points to 20 per cent for condos, 0.4 percentage points to 33.9 per cent for two-storey homes and 0.6 percentage points to 33.7 per cent for bungalows in Q4 2014.TAKE A PEEK $360’sStarting From The*BEHIND OUR BLINDS! Plus GSTBehind every Livingstone Townhome is a fully insulated & drywalleddouble garage, perfect for keeping your car in style. But it’s not just your NO CONDO FEEScar we’re spoiling; these townhomes come fully loaded. Our designershave gone above and beyond; laminate flooring throughout the main floor, *Rendering is artist’s concept only and may be subject toa stainless steel appliance package and tons of gorgeous interior selections change. Prices subject to change without notice. E.&.O.E.that don’t come standard with any other home. And these turnkey homesinclude deck, fence & landscaping, all in a quiet location and they’reready to move right in!This is the opportunity you’ve been waiting for. You CAN have it all.VISIT OUR SALES CENTRE AT 52 LEGACY GATE SE • 403.460.7930 • [email protected] NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca
SOUTHEAST 2 Car parking Rear deck/ pad or garage patioLandscaped Granite or quartzprivate yard kitchen countertopsLaminate flooring Sunset Ridge | from the $340s COCHRANE Legacy | from the $350s Mahogany | from the $390s 41
SOUTHEAST MORTGAGE ADVICE 60% SOLD OUT Mortgage math THE By Alyssa Richard MORELLO In buying a home, your first step is to get pre-approved for a mortgage. The amount of your approval is the 2 BEDROOM CONDOS absolute maximum a bank or mortgage broker would be willing to give you – and the mortgage payment at that top starting from the $350’s (plus GST) price is often outside of people’s comfort zones. To ensure Lake Midnapore Access you’re not strapped for cash, buy at a lower price point. Upscale Finishing Your budget will thank you when interest rates rise. Open Floor Plan Economists have said an interest rate hike was on the horizon for years, but indications are that it could happen in 2015 (despite the recent drop). Since our economy follows that of the U.S., the Bank of Canada will watch the Federal Reserve and go from there. It’s predicted that our prime rate could rise as much as 1.25 to 1.50 per cent, though, which would affect anyone who had a loan attached to prime. If you’re thinking of taking advantage of a low variable mortgage rate this year, you should first run the numbers to see if you could afford this potential increase. According to the Canadian Real Estate Association, the average home price in Canada is slightly more than $413,000. If you were to make a 20-per-cent down payment with a five-year variable mortgage rate of, 2.09 per cent, your monthly mortgage payment would be $1,413. If the prime rate were to rise by 1.50 per cent, your mortgage rate would increase from 2.09 to 3.59 per cent, and your monthly mortgage payment would go up to $1,665. That’s $252 more per month, or an extra $3,024 per year, that you’d need to find in your budget. Imagine how difficult that money would be to come up with if you’d already purchased something at the top of your max budget. Even if an mortgage rate increase weren’t on the horizon, I always recommend that homebuyers stress-test their mortgage against a higher rate before they buy. A good rule of thumb is this: if you can’t afford a two-per-cent interest rate hike, you may want to look at a home within a more appropriate price range. 15207 1st SE in Midnapore Alyssa Richard is the founder and CEO 403.554.3035 of ratehub.ca, a mortgage TheMorello.ca rate comparison site that aims to empower (prices subject to change) Canadians to make smart financial decisions.42 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca
LAKESIDE LIVING AT ITS BESTPRICING STARTING AT LAKE COMMUNITY OF MIDNAPORE$ WALKING DISTANCE TO LAKE,75% FISH CREEK PARK, SHOPPING & C-TRAIN199,000SOLD CONTEMPORARY 1 & 2 BEDROOMS UNDERGROUND PARKING AND STORAGE LOCKER WITH EVERY UNIT PET FRIENDLY UNDER CONSTRUCTION MOVE IN FALL 2015!MIDCITYMIDNAPORE.CA 403.800.9189
Elevated Amenities STARTING NFROOWMSTEHLLEINMGID $200sExclusively For ResidentsAnd Their Guests GREYHOUN BUS TERMINOwn a new local landmark overlooking the sparkling Calgary skyline and iconic Central MemorialPark. Amazing amenities include a beautiful Zen Terrace, outdoor kitchen with fire pit, indoor sociallounge with kitchen and cozy fireplace, and fully equipped fitness spaces. These amenities are not anafterthought – they are front and central to living well.CALGARY · PARKSIDE LIVING ON CENTRAL MEMORIAL PARK 2ND ST SW NOW SELLING · VISIT OUR DISCOVERY CENTRE TODAY 301 11TH AVE SW · OPEN DAILY 12– 5PM, EXCEPT FRIDAYS · 403 244 242812TH AVE SW QUALEX.CA/PARKPOINTCENTRAL PARK N Another original by44 Artist rendering only. TM denotes one or more trade-marks of Qualex-Landmark Management Inc. used under license by Qualex-Landmark Union Inc. This is not an offering for sale. E.&O.E.
INNER CITY 6 AVE N RILEY 24 4 AVE 2 AVE N 3 11 SOBOW PARK 21 BY M2I DEVELOPMENTSND SUNNYSIDE ROTARY CORPORATIONNAL 5 AVE N 20 STATION PARK 1640 17A St. 23 AVE S PRINCE’S ISLAND PARK 12 KENSINGTON 26 AVE S BY BUCCI 12 17 301 10th St. NW EAMUACRLKAEITRE04 25 16 13 FIRST BY FRAM + SLOKKER 01 East Village Experience Centre 553 Riverfront Ave. SE 06 4 AVE S 13 5 AVE S 18 14 AVLI ON ATLANTIC 6 AVE S BY RED MANAGEMENT MILLENNIUM 19 1220 9th Ave. PARK 9 AVE S CONVENTION FORT 16 STEPS BRIDGELAND CENTRE CITY CALGARY BY GIUSTINI BRIDGES IN. HALL Sales Centre 921 - 1st Ave. NE 10 ST W 14 11 17 916 8 ST W BY SABLE DEVELOPMENTS 5 ST W 916 Memorial Drive 4 ST W 2 ST W 18 EVOLUTION 1 ST W BY EMBASSY BOSA INC. 1 ST E East Village Experience Centre MACLEOD TR 553 Riverfront Ave. SE OLYMPIC WY 11 AVE S 02 05 19 VERVE 12 AVE S 08 BY FRAM + SLOKKER COLONEL VICTORIA PARK / Sales Centre Now Open in 07 MOUNT ROYAL BELCHER STAMPEDE STATION East Village VILLAGE HOSPITAL 17 AVE S CALGARY EXIBITION 20 LIDO AND BY BATTISTELLA 10 ST W TALISMAN Sales Centre 1120 Kensington Rd CLIFF ST SPORTS CENTRE STAMPEDE PARK 5 ST W 21 V&V PROSPECT AVE 4 ST W ERLTON / BY PROVIDENCE GROUP 22 STAMPEDE STATION Register: einsteincalgary.com 26 AVE S 23 22 ALEX BY ASSURED 01 RIVERFRONT POINTE 06 AVENUE COMMUNITIES BY CARLISLE GROUP BY GROSVENOR & CRESSEY Presentation Centre: 101 Riverfront Avenue S.E. 1035 5th Ave. SW 2719 14th St. SW 02 PARK POINT 07 SMITH 23 MISSION 34 BY QUALEX-LANDMARK BY GROSVENOR BY ASSURED Coming Soon Visit Sales Centre at COMMUNITIES Register now at Qualex.ca/ 850-16th Ave. SW, 2nd Floor 98 Mission Road SW ParkPoint mission34.ca 08 DISTRICT 03 43 PARK BY BOULEVARD INVESTMENTS 25 BRIDGELAND HILL BY VERICON REAL ESTATE Sales Centre Now Open BY GABLECRAFT HOMES VENTURES 305 18th Ave. SW 516 Edmonton Tr. NE 43park.ca 09 LiFFT 04 WATERFRONT BY VERICON REAL ESTATE BY ANTHEM PROPERTIES VENTURES 216 Riverfront Ave. S.W. Coming soon to Renfrew-Bridgeland liveLiFFT.com 05 THE GUARDIAN BY HON TOWERS 10 BRIDGELAND CROSSINGS 12th Ave SE at 3rd St. BY GABLECRAFT HOMES bridgelandcrossings.ca NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 45
SALES LAUNCH EVENT ApriL 26 bY INVITATION ONLY. REGISTER AT EmeraldSky.caQuiET, MOdERn & ulTRa CONCRETE & STEEL CONSTRUCTIONcOMFORTaBlE FOR THE INTELLIGENT PURCHASERMasTER plannEd uRBan sTandaRd GRaniTE cOunTERTOpsVillaGE dEsiGn & sTainlEss sTEEl appliancEs indOOR HEaTEd paRKinG (some with direct access) cOMMandinG lOcaTiOn WiTH sTunninG ViEWsAALLBBEERRTTA’S #1 CONDO BUUIILLDDEERRMMAAYYBBEEIITT’’SSBBEECCAUSE WE’RE SO EEAAGGEERRTTOOPPLLEEAASSEE ARTIST’S RENDERING ONLY 37TH ST. SYVAMLOLNESY RD.FROM KINCORA GLEN ROAD NW180’s$THE STONEY TRAIL NW SaleS Centre HourS: Mon.-thurs. 2-7 pm Saturday & Sundays 12-5 pm • Closed Fridays 403.460.2510
SALES LAUNCH EVENT ApriL 26 bY INVITATION ONLY. REGISTER AT LegacyGate.ca ALBERTA’S #1 CONDO BUILDER MAYBE IT’S BECAUSE WE’RE SO EAGER TO PLEASESouth Calgary’s Most Desirable Location CONSTRUCTION STARTED TWO BEDROOMS $140’sFROMFEATURING YOU QUALIFY WITH A ARTIST’S RENDERING ONLY HOUSEHOLD INCOME OF• Choice of 4 professionally designed interior finishing packages $35,000• 5 appliance package WITH PAYMENTS FROM• Spacious patio or deck• Hardieboard fibre cement siding $688 MONThLy*• Secure titled heated underground parking ASk AbOUT OUR EASY DOWN PAYMENT PLAN! *OAC based on 5% deposit, 3.19% interest amortized over 25 years.MARQUIS OF LORNE TRAIL SE (22X) SALES CENTRE LOCATED AT 210 AVENUE SE 210 AVE SE, CALGARy LEGACY BLVD SE SALES CENTRE HOURS: Mon - Thurs 2-8 pmMACLEOD TRAIL Saturday, Sunday & Holidays 12- 5 pm 403.460.5206 NOW SELLING IN ALBERT PARK: ShOW SuITE OPEN 5 LOCATIONS AIRDRIE: ShOW SuITE OPEN KINCORA EMERALD SKy: SALES LAuNCh DATE carlislegroup.caFOR MORE INFORMATION VISIT: APRIL 26 OR CALL uS AT: LEGACy: SALES LAuNCh DATE APRIL 26 403.571.8426 COChRANE: By APPOINTMENT ONLyIMMEDIATE POSSESSIONS EDMONTON: IN MANY LOCATIONS AvAILABLE
MAKE YOUR MOVE Make way for springBy Hellen Buttigieg, Certified Professional Organizer, WeOrganizeU.comAt first, you were afraid to put away the winter gear because it was Have you stored your parka? If impossible to believe that unrelenting, snow-filled season was really you’ve been putting off the task of over. But as spring slowly slides into place, you’re finding your hall storing your winter coats becausecloset is bursting at the seams trying to contain the collection of everything you don’t have an extra closet,from mitts and snow boots to umbrellas to Wellies. Make some space for your there’s a solution. A sturdy, rollingspring and summer, and don’t give Jack Frost another thought. garment rack makes an ideal spot to store winter coats during the summer.Make room for spring. Although there’s never enough storage space, Dry-clean all items beforethere are creative ways to store out-of-season items. Add another shelf storing, even if they look clean. Bodyabove the existing one in all the closets, and purchase under-the-bed oils and invisible food stains attractorganizers. If your bed is not high enough, you can get a bed riser to lift it. moths – especially on wool coats. Cover the clothes with a clean,Jump-start your spring cleaning with baby steps. If you don’t know cotton bed sheet or use a zipperedwhere to begin when it comes to spring-cleaning your home, start small. canvas wardrobe cover specificallyPick just one room. Moving clockwise, remove anything that doesn’t belong designed for this purpose to keepin that room and place it in a “move elsewhere” box to deliver to the room it your clothes dust-free. If you don’tshould live in. Pull out anything that doesn’t give you joy or value and place have room for a garment rack, storeit in a giveaway box. Toss or recycle any papers and garbage that are left seasonal items in large garmentover. Designate this room as a “no-clutter zone” so you will always have a bags, suitcases or under-bedsanctuary to escape to, regardless of what the rest of the house looks like. storage bins.48 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca
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INNER CITY50
CONSTURNUDCTEIRON“Let me get that for you.” Welcome to Smith: a boutique collection of homes in the Beltline with an on-duty concierge who signs for packages, lets friends into your home and finds countless other ways to make life easier. Add in a stylish home built by Grosvenor, a world leader in crafting special homes, and suddenly, deciding why to buy just got easier too. HOMES BELOW $300,000 STILL AVAILABLE.NOW SELLING: 8 ST SW 15 AVE SW 7 ST SWTHE BELTLINEPresentation Centre 6 ST SW2nd Floor 850 16th Ave SW 16 AVE SW Living citiesM–Wed 12–6pm. S+S 12–5pm 17 AVE SWClosed Thursday & Friday NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 51403.264.1703 smith17.comThis is not an offering for sale. Such offering can only be made with a disclosure statement. E.& O.E.
IS THE IMF ROOTING AGAINST CANADA’S HOUSING MARKET? (PART 1)If you’ve never heard of the International Monetary Whether or not our central bank is as concernedFund (IMF) just Google “Canadian Housing about the IMF’s view on Canadian household debtMarket” and look for the red ink. Since the depends on where you get your news, however, it isbeginning of 2015, this global economic think tank something they definitely monitor. It does seemhas become a well-quoted commentator of our counter intuitive for public policy makers to lowerhousing market with headlines that often include interest rates to encourage borrowing, only to be“overvalued” and “overheated.” At Intelligence disappointed once people do. After all, the demandHouse, we wonder if the IMF could be “over for loans works like the demand for all things: whenconcerned.” the cost of borrowing is low, people borrow more.In a nutshell, the IMF fears that lengthy periods of At the end of the day, increasing debt is not a sign oflow interest lending has allowed too many weakening household finances, especially whenCanadians to assume debt levels that they would interest rates are low or falling. What counts, or whatnot be able to afford in a higher interest should count, is how they are investing and servicingenvironment. They further warn that a portion of this debt.Canadian homeowners will be forced to sell theirhomes to avoid mortgage default once interest As the IMF has kindly pointed out, Canadians haverates inevitably rise. This portion of homeowners been using much of their new debt to invest incould be sufficiently large to spur a downward housing. In fact, mortgage debt accounts for 66% ofcorrection in our housing prices. all consumer debt and is the majority of our most recent experienced growth in total national debtStatistics on Canadian household debt are often levels.quoted alongside this IMF warning. Earlier inMarch, Statistics Canada reported that So is this really a bad thing? More on this nextdebt-to-disposable income levels ended 2014 at time…163%; up significantly from the 130% experiencedprior to the Bank of Canada’s initial lowering of theinterest rate in 2008.Intelligence House is Edmonton’s newest and most From left to right:innovative Real Estate Marketing Agency with a Michael Melnychukfocus on strategic market intelligence which Alex Ruffiniincludes full research, marketing and sales Emmett Hartfieldservices to the real estate industry.52 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca
CUONNDSETRRWUCAYTIONLUXURY BEGINS AT THE DOOR Begin your Avenue experience with a greeting from your concierge at the porte cochere – a five-star entryway that creates an unforgettable arrival for you and your guests. From there, the luxury continues within the grand reception with its soaring ceilings and statement chandelier, a finely appointed lounge,connecting sky bridges and state-of-the-art gym. At Avenue, you can leave to travel the world and then return to a secure home that offers the same sophisticated living experience as the boutique hotels abroad. ONE BEDROOM HOMES STARTING FROM $374,900 TWO BEDROOM HOMES STARTING FROM $571,900 5th AVE SW PRESENTATION CENTRE: 1037 5th Avenue, SW, Calgary10 ST SW Monday–Wednesday: 12pm–5pm Saturday & Sunday: 12pm–5pm Closed Thursdays & Fridays 403-530-8455This is not an offering for sale. Such an offering can only be made with a disclosure statement. E.&O.E. AVENUEWESTEND.COM 53
LOOKING FOR ANEW HOME? It’s only a tap away. Find the perfect new home or condo in the neighbourhood that fits your lifestyle. Start searching now!DOWNLOAD THE APP GET STARTED NOW AT NewHomeAndCondoGuide.ca
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2A CALGARY OKOTOKS SOUTHRIDGE DR SHEEP RIVER BIG ROCK TR WESTLAND RD WESTRIDGE DR7 2A
CALGARY’S SATELLITE COMMUNITIES 22 AIRDRIE 20 SUNSET BY JAYMAN 04 0620 09 11 INNOVATIONS 07 05 24 Sunset Rd. 1A 13 14 10 12 Cochrane, Alberta 15 02 21 THE WHITNEY COCHRAN0E3 01 2 BY LANDMARK HOMES 211 & 215 Fireside Parkway 08 21 Cochrane, AB AIRDRIE 09 CREEKSIDE VILLAGE 1 STRATHMORE BY CARLISLE GROUP 8th & MacKenzie Way CALGARY CHESTERMERE 1 Airdrie, Alberta 797 10 STONEKEEP AT KING’S LANGDON HEIGHTS TOWNHOMES BY MERGE DEVELOPMENTS 1225 King’s Heights Way SE 22X 22X Airdrie, Alberta 11 THE EDGE BY STREETSIDE DEVELOPMENTS 604 East Lake Blvd N.E. Airdrie, Alberta 22X BLACK 2 12 RAVENSWOOD DIAMOND TOWNHOMES 17 BY SLOKKER CANADA WEST OKOTOKS 2802 Kings Heights Gate 546 543 2A 13 BROOKSIDE AT TURNER 22 HIGH RIVER BAYSPRINGS VALLEY BY MERGENORTHRIDGE DR 03 THE RISE 06 THE VILLAGE DEVELOPMENTS COCHRANE BY JAYMAN MODUS BY CALBRIDGE HOMES Yankee Valley Blvd. and 501 Riverheights Dr. 3102-15 Sunset Square 24th St. SW 01 TOWNHOMES AT Cochrane, AB Cochrane, Alberta BrooksideAtBaysprings.com JUMPING POUND RIDGE 04 SUNSET RIDGE 07 RIVERREACH VILLAS 14 HEARTLAND BY SLOKKER CANADA STREET TOWNS & MANORS TOWNHOMES WEST BY HOMES BY AVI BY JAYMAN BY EXCEL HOMES Sales Centre on George 36 Sun Valley Road MASTERBUILT L1AE0iTr1HdHBriRielIlDcGreEst Dr. SW Fox Trail just past Jumping Cochrane, Alberta 13 Riviera Way Pound Terrace Cochrane, Alberta 15 ZEN RAVENSWOOD www.slokker-west.ca 05 STONE CREEK BY AVALON LANDING 08 THE RANGE MASTERBUILDER 02 HEARTLAND BY CARLISLE GROUP BY BIRCHWOOD Coming Soon TOWNHOMES 103 - 5th Avenue, West, PROPERTIES CORP. Register: BY EXCEL HOMES Cochrane, Alberta 101 Heartland Avenue www.zenravenswood.com 1178 Clydesdale Way, Cochrane, Alberta Cochrane, Alberta 17 ZEN OKOTOKS BY AVALON MASTERBUILDER www.zeninbalance.com NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 57
MAKE YOUR MOVE A cleaner and Greener moveBy Chuck Resnick, vice-president, Two Men and a Truck – CanadaProtecting the environment is an important concern for consumers #4 – Hazardous material: Toxic and businesses alike, but many don’t realize that moving can have a items like paint, batteries, cleaning positive impact on the environment. products, automobile oils, pesticidesWaste caused by the moving process not only stems from packing and fertilizers are dangerous andsupplies, but also from the waste accumulated over many years within a home. cannot be transported in the backBoth sources can be taxing on the environment if not properly managed. Here of a commercial moving truck.are some suggestions to make your move a cleaner, Greener process. Also consider these items cannot be thrown-out with your regular#1 – Plan ahead: Waiting until the last minute to prepare for a move often garbage. Look up the specializedmakes environmental concerns an afterthought. Start early so you have the recycling depots for toxic products.extra time to sort through recyclable, reusable or donatable items, rather thansee them end up in a land fill site. #5 – Reuse: Do not throw away used boxes when the move is complete.#2 – Research: Survey local recycling options to find the most convenient A well-made corrugated box is greatsolution for recyclables. Many cities offer curb-side pick-up or “sort and drop” for storage or may be reused for adepots. Check with your municipality for details. future move. Contact local schools or charity organizations, such as#3 – Organize: Sort your recyclables by category: plastic, glass, aluminum, women’s shelters, scout troops, andpaper, cardboard, etc. Look up the requirements of the local recycler to see if food banks to ask if they need boxesthere are additional steps needed to prepare recyclables beforehand. to redistribute donated items. SIZE matters.With almost 1700 sq ft, Brookside townhomes are shockingly big. You get Showhome Grand Opening on now!massive floorplans, private fenced yards, double garages and more room to Townhomes startinggrow - a lot more room. For details, head west on Yankee Valley Blvd to 24th from the mid $300s.Street in Airdrie or visit brooksideatbaysprings.comOwn a townhome with an attached garage from the $230s.For details visit stonekeep.ca58 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca
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nothing in cochrane compares to our price not available in calgary AT ANY PRICE AND GET 2.49% JAYMAN FINANCIAL *Optional basement development not included. †Some conditions apply. 3 year fixed rate and based on 25 year amortization. Rates are subject to change without notice. Clients may have to qualify at a higher rate. O.A.C., E. & O. E. Effective February 27, 2015.
NORTHEAST COMMUNITIES STONEY TRAILMETIS TRAIL 03 LiFFT BY VERICON REAL ESTATE COUNTRY HILLS BLVD. DEERFOOT TRAIL 06 VENTURES Sales Centre #701, 7th Ave. NE 07 05 128 NE Ave livelifft.com COUNTRY HILLS BLVD. 04 STEPS BRIDGELAND BY GIUSTINI BRIDGES IN.SHAGANNAPI TRAIL 52 STREET SADDLETREE DR. Sales Centre 921 - 1st Ave. NE 80 Ave www.stepsbridgeland.com NOSE CALGARY 64 Ave HILL INTERNATIONAL 05 HARANA TOWNHOMESCRIOWCHJILODHTNRALAILURIE PARK 64 Ave MCKNIGHT BLVD. BY JAYMAN MODUS AIRPORT Coming Summer 2015 BLVD. RIFDALGCEON Register: jayman.com/harana CENTRE STREET 68 STREET 14 STREET EDMONTON TRAIL 32 Ave 06 ARRIVE AT REDSTONE BY PARTNERS 16 AVENUE 16 AVENUE DEVELOPMENT GROUP 12 AVENUEMEMO01R34IAL002D3R0IV1E MEMORIAL DRIVE 104 Redstone View (off Redstone Way) 17 Ave 17 Ave 36 STREET 07 ARRIVE AT SKYVIEW 52 STREET RANCH ARBOURS BY PARTNERS DEVELOPMENT GROUP Coming Soon www.arrivehome.ca 13 V&V BY PROVIDENCE GROUP Now Open Register: einsteincalgary.com01 BRIDGELAND CROSSINGS ELBOW DRIVE BLACKFOOT TRAIL 02 43 PARK BY APEX CITY HOMES BY VERICON REAL ESTATE Coming Soon MacLEOD TRAIL VENTURES bridgelandcrossings.com 43park.ca GLENMORE GLENMORE TRAIL RESERVOIRSOUTHLAND DRIVE BARLOW TRAIL 84 STREET ANDERSON ROAD 52 STREET FISH CREEK PARK DEERFOOT TRAIL 114 AVE SE NEW BRIGHTON SHAWNESSY BOW BLVD. BOTTOM CHAPARRAL JAMES McKEVITT TRAIL MARQUIS OF LORNE TRAIL COPPERFIELD MacLEOD TRAIL CRANSTON ABURN BAY NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 61
HOME SWEET HOMELower lending ratescould spell trouble foroverextended CanadiansBy Lydia McNuttT he mortgage rate war is back on with Bank of Montreal’s recent “The banks are right announcement that it is dropping the rate on its five-year, fixed-rate to be concerned... mortgage to 2.79 per cent, and TD Bank following suit. This, just in time that’s what happensfor the busy spring real estate market, which is already highly competitive in low interest rateamong buyers, sellers and lenders alike. environments,” Richard says. “Take This rate drop will make it easier for some homebuyers to get into the this rate cut for whatmarket. But how long can these low rates last, and what will happen to it’s really worth: aoverextended Canadians when rates eventually rise? chance to pay down your current debt This most recent rate cut was preceded by one in January, when the sooner.”big banks dropped their lending rates after the Bank of Canada loweredits key rate by 1/4 per cent to 0.75 per cent in an e ort to shield highly Lydia McNutt is an award-winningindebted Canadians from the drop in oil prices and its economic impact, said writer and editor of New CondoAlyssa Richard, founder and CEO of RateHub.ca. Then during its latest rateannouncement, the Bank held its rate at 0.75 per cent for fears of Canadians Guide. Lydia’s love of architecture,taking on more debt than they can handle. interior design and the written word have landed her happily at Echoing that sentiment, the International Monetary Fund has warnedof Canada’s overheated housing market in the face of lower oil prices and home at Yellow Pages NextHome,increasing levels of household debt. where real estate rules. Email [email protected], Indeed, a recent report by Statistics Canada shows household debt and follow her onincreased by 1.1 per cent in the fourth quarter of 2014. “For the third Twitter @LydiasTweetsconsecutive quarter, disposable income increased at a slower rate thanhousehold credit market debt. As a result, leverage, as measured byhousehold credit market debt to disposable income, reached a new highof 163.3 per cent in the fourth quarter.” In other words, households heldroughly $1.63 of debt for every dollar of disposable income. The fear is that with even lower lending rates, Canadians see this as theirchance to take on more debt. Any bumps in the economy – as we’ve seenwith our oil prices – can have a far-reaching ripple e ect and for those on analready overextended budget, big waves. “The banks are right to be concerned... that’s what happens in low interestrate environments,” Richard says. “Take this rate cut for what it’s really worth: achance to pay down your current debt sooner.” “Given long-term interest rates are close to all-time lows and the recentmarket uncertainty, there are some benefits to locking in to a fixed-ratemortgage,” Doug Porter, chief economist, BMO Financial Group, said.“Combined with a shorter, 25-year amortization period, such a step wouldsignificantly dampen widespread concerns about the vulnerability ofhousehold finances.”62 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca
HOMEBUYERS’ HELP recsoonudrocebsueycetriso’nYOU LOVE THE CONDO, SEE WHAT YOU CAN AFFORD! Compare mortgage rates for your best deal Calculate your mortgage payments NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 63
HOMEBUYERS’ HELPYou love the condo, see what you can afford! % Amortization Periods Calculate your mortgage payments INTEREST 5 10 15 20 25 MONTHLY SPOUSE’S TOTAL RATES YEARS YEARS YEARS YEARS YEARS PRE-TAX PRE-TAX PRE-TAX INCOME INCOME INCOME3.00 17.96 9.65 6.91 5.54 4.733.25 18.07 9.76 7.02 5.66 4.86 DIVIDE AFFORDABLE AMOUNT3.50 18.18 9.88 7.14 5.79 4.99 BY THREE MONTHLY OF MORTGAGE3.75 18.29 9.99 7.26 5.91 5.13 PAYMENTS (PRICE-DOWN PAYMENT)4.00 18.40 10.41 7.38 6.04 5.264.25 18.51 10.23 7.50 6.17 5.40 DIVIDED BY 124.50 18.62 10.34 7.63 6.30 5.534.75 18.72 10.46 7.75 6.44 5.67 CHART AMOUNT AMORTIZATION5.00 18.85 10.59 7.89 6.58 5.82 FIGURE OF MORTGAGE AMOUNT5.25 18.97 10.71 8.01 6.71 5.96 DIVIDED BY 1,0005.50 19.08 10.83 8.14 6.85 6.115.75 19.19 10.95 8.27 6.99 6.26 AMORTIZATION ESTIMATED MONTHLY6.00 19.30 11.07 8.40 7.13 6.40 AMOUNT MONTHLY TAXES PAYMENTS6.25 19.42 11.19 8.54 7.27 6.556.50 19.53 11.32 8.67 7.41 6.70 AND HEAT6.75 19.64 11.44 8.80 7.55 6.86Follow these steps to see if you’llqualify for a mortgage on your dream condo01 Calculate the combined monthly before- 05 Multiply this figure by thetax income of you and your spouse. amount you need to borrow. Divide by 1,000.02 Divide by three. This figure is themonthly payment you can afford to make 06 Add to this your estimatedon your condo. monthly heating costs and monthly property taxes.03 Take the total price of the condo andsubtract the amount of money you expect 07 If this figure is equal to or lessto make as a down payment. This is the than one-third of your grossmoney you will have to borrow. monthly income (calculated in Step 2), you’ll qualify for a04 Refer to the chart above. Look down mortgage on your dream condo.the left column and locate the interest rateyou expect to pay. Line this up with the Bear in mind that this is a rough estimate.amortization period of your choice. (Most If you have several other large loansfirst-time buyers take the 25-year already, you may qualify for less. Also,amortization.) banks and trust companies vary in their policies. The best way to know what you can afford is to go to the lending institution of your choice and get pre-qualified.64 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca
Compare mortgage rates for your best deal VARIABLE 6 MONTHS 1 YEAR 2 YEARS 3 YEARS 4 YEARS 5 YEARSATB Financial 2.350 4.000 2.940 2.640 2.640 2.740 2.840Bank of Montreal (BMO) 2.850 4.000 2.890 2.840 3.390 3.890 4.740Bank of Nova Scotia 2.850 4.550 3.290 3.090 3.390 3.890 4.490CIBC Mortgages 2.850 4.450 2.890 2.840 3.550 4.140 4.790Canadian Western Bank 3.050 4.000 3.140 3.040 3.650 4.200 4.790Canadian Western Trust 3.050 4.000 3.140 3.040 3.650 4.200 4.790Effort Trust 4.450 3.450 3.600 3.700 4.600 4.950Equitable Bank - - 3.140 3.140 3.700 4.440 4.740First Calgary Financial - 4.000 2.890 2.890 2.990 3.090 3.190First National Financial - 3.950 2.990 2.590 2.690 2.790 2.890Home Trust Company 2.850 3.950 2.890 2.440 2.590 2.790 2.790ICICI Bank Canada 2.500 - 3.150 3.650 3.640 3.690 3.690Investors Group Trust 3.050 4.200 3.140 3.090 3.750 4.390 4.790Laurentian Bank Canada 2.850 4.400 2.890 2.840 3.390 3.890 4.740London Life 2.850 4.200 3.140 3.090 3.750 4.390 4.790Manulife Bank 2.850 4.450 3.000 3.040 2.940 2.990 2.990Manulife Trust 2.550 4.450 3.000 3.040 2.940 2.990 2.990Meridian Credit Union - 4.000 3.090 3.090 3.550 3.290 2.890National Bank 2.650 4.400 2.890 2.840 3.390 3.890 4.740Ontario Civil Service CU 2.850 6.000 3.090 3.040 3.500 3.040 3.290President’s Choice Fin’l 3.000 6.190 3.190 2.840 3.490 4.040 4.440Royal Bank of Canada 2.850 3.140 3.140 3.140 3.700 4.440 4.740Servus Credit Union 2.850 4.000 2.890 2.840 3.390 3.890 4.740Steinbach Credit Union - - 2.650 2.750 2.850 2.900 2.950T-D Mortgage - 3.140 2.890 2.840 3.390 3.890 4.740Tangerine 2.850 - 3.190 3.240 3.490 3.690 3.790Windsor Family C.U. 3.000 4.450 3.140 3.140 3.750 3.950 3.790Your Neighbourhood C.U. - - 2.990 3.000 3.190 3.300 3.190 -Rates are subject to change without notice.Mortgage optionsYou can choose any of these mortgage options which fit into the two basic mortgage types. Lenders mayeven customize these options to suit your needs.All mortgages are of two basic types:CONVENTIONAL OPEN MORTGAGE It’s a good choice for those who wantBuyer can borrow up to 75 per cent Allows borrowers are to repay all the security of knowing their monthlyof the purchase price or the value or part of the total amount of their payment is fixed for a longer term.of the property, whichever is less. mortgage at any time without penalty. Prepayment options are available butBuyer has to pay 25 per cent down. Because of flexibility, this is ideal for they are subject to conditions.A conventional mortgage cannot borrowers who plan to sell theirexceed 75 per cent of the value of homes in the near future or who want PORTABLE MORTGAGEthe property. to switch from a short-term mortgage Offers flexibility if borrowers move. at high-interest rates to a longer term Borrowers can take the mortgageINSURED OR HIGH-RATIO when mortgage interest rates fall. to their new home or can transfer itBuyer can borrow up to 95 per cent (usually with the consent of theof the purchase price or the value CLOSED MORTGAGE lender) to the purchaser of their oldof the property, whichever is less. This usually has the lowest interest home. This is an attractive option ifThe down payment can be as low rate available but lacks the flexible the rate on the existing mortgage isas five per cent. features of other mortgage options. lower than current rates. NewHomeAndCondoGuide.ca | VOLUME 18 ISSUE 04 | NEW CONDO GUIDE 65
INDEX OF ADVERTISERSREAD MORE ABOUT OUR ADVERTISERS!Albert Park Station Carlisle Group 46-47Alture MidCity Altoure Developments 40Arrive at Evanston Partners Developments 17Avenue Grosvenor 53Canoe Avi Urban 67Champagne Remington Development Corp. 2Copperfield Park III Brad Remington Homes 68Creekside Village Carlisle GroupEdison Avi Urban 46-47Emerald Sky Carlise Group 33Ezra Birchwood PropertiesThe Gates Remington Development Corp. 46-47The Guardian Hon Towers ltd. 14Heartland Townhomes Excel Homes 30Hunter House Streetside Developments 6Jumping Pound Ridge Slokker West 57LIDO Battistella 29LiFFT Vericon 7Livingstone Trico Developments 48Max Assured Developments 49Morrison Homes 40Mosaic Riverstone Brookfield ResidentialThe Morello 25-27Nolan Park Cardel Lifestyles 16Park Point Qualex LandmarkRiverfront Pointe Carlisle Group 37-39RiverReach Jayman MasterBUILT 42Scollen HouseSmith Grosvenor 1,3,11-13StreetTowns Homes by Avi 44Stonekeep Merge DevelopmentsThe Timbers GableCraft Homes 46-47V&V Providence Developments 60Viridian Trico Homes 55Vivace Streetside Developments 51Waterfront Anthem Properties 41Watermark MacDonald Developments 58Willow Avi Urban 4Zen Avalon Master Builder 50Zen Ravenswood Avalon Master Builder 18 22 5 21 19 56 59Jayman Group of Companies PULLOUT INSERTAvira, Ebony, Overture, The Rise, Trinity & Carnaby Heights66 NEW CONDO GUIDE | VOLUME 18 ISSUE 04 | NewHomeAndCondoGuide.ca
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