your first home & condo - spring 2016
DESCRIPTION
A Yellow Pages NextHome PublicationTRANSCRIPT
SPRING 2016, FREE
6 USEFUL TIPS FORFIRST-TIMEBUYERS
SPECIAL EDITION
4 MARKETS TO EXPLORE IN…SOUTHWESTERN ONTARIO
CONDO LIVINGFOR NEW FAMILIES
+
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Get Social with us:
Danforth & Danforth
3194 Danforth Ave
OWN IT LOVE IT10% DOWN*
Get the full SPICE story now
SpiceOnDanforth.com416.932.3443
Sales Office Hours: Mon - Thurs 12 - 7pm, Friday by appointment, Weekends 11am - 5pm
• 1 & 2 Storey homes -739 sq.ft. up to 1,029 sq.ft.• 2 Bedroom + Den & 3 Bedroom Designs
• Hassle-Free living • 9’ Ceilings • Landscaped Grounds
• Underground Parking • Rooftop Terraces
You can own a new Urban Town at Danforth and Danforth
$300’sStarting from the mid
Brokers protected. Prices and specifications are subject to change without notice. Rendering is artist’s concept. E. & O. E. *See Sales Representative for more details.
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SHEL-SPI-A-AD-YOURFIRSTHOME-JAN13-2.indd 1 1/28/16 2:51 PM
Get Social with us:
Danforth & Danforth
3194 Danforth Ave
OWN IT LOVE IT10% DOWN*
Get the full SPICE story now
SpiceOnDanforth.com416.932.3443
Sales Office Hours: Mon - Thurs 12 - 7pm, Friday by appointment, Weekends 11am - 5pm
• 1 & 2 Storey homes -739 sq.ft. up to 1,029 sq.ft.• 2 Bedroom + Den & 3 Bedroom Designs
• Hassle-Free living • 9’ Ceilings • Landscaped Grounds
• Underground Parking • Rooftop Terraces
You can own a new Urban Town at Danforth and Danforth
$300’sStarting from the mid
Brokers protected. Prices and specifications are subject to change without notice. Rendering is artist’s concept. E. & O. E. *See Sales Representative for more details.
SHEL-SPI-A-AD-YOURFIRSTHOME-JAN13-2.indd 2 1/28/16 2:51 PM
3
002-003-HiRise-Spice 02-06-16.indd 3 2016-02-02 11:46 AM
property profiles
10 Menkes DevelopmentsThe Eglinton celebrates construction milestone
14 Hi-Rise West Inc.Want to add a little SPICE to your life?
18 Adi DevelopmentStationwest a transit-connected lifestyle
26 Daniels CorporationLive, work, play in hottest new waterfront community
trending
15 Focus on Southwestern Ontario
22 SWO Housing Markets4 appealing markets in Southwestern Ontarioby Wayne Karl
25 Spotlight on Condos
28 Buying a CondoThe more you walk, the more you will saveby Wayne Karl
29 Homebuying TipsSix homebuying tips for first-timers by Wayne Karl
advice
12 Legally SpeakingBuying your first home? Here’s what you need to knowby Jayson Schwarz
20 Mortgage AdviceFirst-time homebuyers: 3 steps to get into the marketby Alyssa Richard
24 BILD ReportCondo living on the horizon for new familiesby Bryan Tuckey
in this issue
8 Editor’s Note
SPRING 2016
24
contents
14
10
26
24
PRESIDENT, YELLOW PAGES NEXTHOME
Jacqueline Hill
EDITOR-IN-CHIEF / DIRECTOR OF CONTENT
Susan Legge
DIRECTOR OF SALES
Moe Lalani
ASSOCIATE PUBLISHER, NEW HOME GUIDE GTA, NEW CONDO GUIDE
Anne-Marie Breen
ASSOCIATE PUBLISHER, NEW HOME & CONDO GUIDE SWO
Susan Maxwell
EDITOR
Wayne Karl
ART DIRECTOR
Tammy Leung
CONTRIBUTING EDITORS
Elisa KrovblitSara Duck (on leave)Lydia McNutt (on leave)
SENIOR ACCOUNT EXECUTIVES
Nina DownsDionne Fraser
SALES & MARKETING CO-ORDINATOR
Terry Bassett
PRODUCTION MANAGER
Bala Gnanapandithan
PRODUCTION CO-ORDINATOR
Sandra Hanak-Vujnovic
GRAPHIC DESIGNERS
Miguel CeaMike Terentiev
Your First Home & Condo#500-401 The West Mall Etobicoke, ON M9C 5J5 T 416.626.4200 F 416.784.5867 ypnexthome.ca
NOW PUBLISHING 2X per YEAR (WINTER & FALL 2016)
ADVERTISING Call 416.626.4200 for advertising rates and information.
CIRCULATION Available at the National Bridal Show Toronto in January and September, Welcome Wagon Shows SWO, GTA Home + Reno Show, and National Home Show & Canada Blooms. Additional distribution throughout the year to key retail locations.
COPYRIGHT 2016 All rights reserved by Yellow Pages Homes Ltd., Toronto, Ont. Reproduction in any form is prohibited. Contents of this publication are covered by Copyright and offenders will be prosecuted under the law.
TERMS Advertisers, Editorial Content and Your First Home & Condo 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 above address, to the attention of the editor.
Please recycle this magazine! Yellow Pages NextHome participates in the Partners in Growth Reforestation Program through St. Joseph Communications. To date, Partners in Growth has planted over 2.5 million trees in parks, recreation and conservation areas, and other public spaces across Canada. Established in 1990, this program was started with Scouts Canada to help replenish the environment.
6 YPNEXTHOME.CA
YFH 02-06-16_master.indd 6 2016-02-02 1:03 PM
property profiles
10 Menkes DevelopmentsThe Eglinton celebrates construction milestone
14 Hi-Rise West Inc.Want to add a little SPICE to your life?
18 Adi DevelopmentStationwest a transit-connected lifestyle
26 Daniels CorporationLive, work, play in hottest new waterfront community
trending
15 Focus on Southwestern Ontario
22 SWO Housing Markets4 appealing markets in Southwestern Ontarioby Wayne Karl
25 Spotlight on Condos
28 Buying a CondoThe more you walk, the more you will saveby Wayne Karl
29 Homebuying TipsSix homebuying tips for first-timers by Wayne Karl
advice
12 Legally SpeakingBuying your first home? Here’s what you need to knowby Jayson Schwarz
20 Mortgage AdviceFirst-time homebuyers: 3 steps to get into the marketby Alyssa Richard
24 BILD ReportCondo living on the horizon for new familiesby Bryan Tuckey
in this issue
8 Editor’s Note
SPRING 2016
24
contents
14
10
26
24
PRESIDENT, YELLOW PAGES NEXTHOME
Jacqueline Hill
EDITOR-IN-CHIEF / DIRECTOR OF CONTENT
Susan Legge
DIRECTOR OF SALES
Moe Lalani
ASSOCIATE PUBLISHER, NEW HOME GUIDE GTA, NEW CONDO GUIDE
Anne-Marie Breen
ASSOCIATE PUBLISHER, NEW HOME & CONDO GUIDE SWO
Susan Maxwell
EDITOR
Wayne Karl
ART DIRECTOR
Tammy Leung
CONTRIBUTING EDITORS
Elisa KrovblitSara Duck (on leave)Lydia McNutt (on leave)
SENIOR ACCOUNT EXECUTIVES
Nina DownsDionne Fraser
SALES & MARKETING CO-ORDINATOR
Terry Bassett
PRODUCTION MANAGER
Bala Gnanapandithan
PRODUCTION CO-ORDINATOR
Sandra Hanak-Vujnovic
GRAPHIC DESIGNERS
Miguel CeaMike Terentiev
Your First Home & Condo#500-401 The West Mall Etobicoke, ON M9C 5J5 T 416.626.4200 F 416.784.5867 ypnexthome.ca
NOW PUBLISHING 2X per YEAR (WINTER & FALL 2016)
ADVERTISING Call 416.626.4200 for advertising rates and information.
CIRCULATION Available at the National Bridal Show Toronto in January and September, Welcome Wagon Shows SWO, GTA Home + Reno Show, and National Home Show & Canada Blooms. Additional distribution throughout the year to key retail locations.
COPYRIGHT 2016 All rights reserved by Yellow Pages Homes Ltd., Toronto, Ont. Reproduction in any form is prohibited. Contents of this publication are covered by Copyright and offenders will be prosecuted under the law.
TERMS Advertisers, Editorial Content and Your First Home & Condo 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 above address, to the attention of the editor.
Please recycle this magazine! Yellow Pages NextHome participates in the Partners in Growth Reforestation Program through St. Joseph Communications. To date, Partners in Growth has planted over 2.5 million trees in parks, recreation and conservation areas, and other public spaces across Canada. Established in 1990, this program was started with Scouts Canada to help replenish the environment.
SPRING 2016 | YOUR FIRST HOME & CONDO 7
YFH 02-06-16_master.indd 7 2016-02-02 1:03 PM
8 YPNEXTHOME.CA SPRING 2016 | YOUR FIRST HOME & CONDO 9
Wayne KarlSenior EditorYellow Pages NextHomeEmail: [email protected]: @WayneKarl
WHEN BUYING your fi rst home, you’re sure to be fi lled with many
questions. How much can I a� ord? How much will it all cost? Where
do I want to live? What type of home do I want?
The answers to these and other important questions depend on your
situation, but there are also some common guidelines you can follow.
1. How much can you a� ord? It’s a common mistake for fi rst-
time buyers to buy more home than you can a� ord. Meeting with
a mortgage broker or your banker will help determine your full
fi nancial picture, everything from your credit rating to your down
payment. Experts also suggest you “stress-test” your plan to see how
well you could cope with higher interest rates.
2. How much will it really cost? Another common homebuyer
mistake is not being prepared for all the costs involved, such as
lawyer fees, land transfer taxes, utilities and insurance. All of these
costs add up, and ultimately should factor into your home-shopping
budget.
3. Where do you want to live? This question is becoming more
important for a number of reasons, though infl uenced primarily by
where you work, how much of a commute you want and what your
transportation options include. Indeed, proximity to mass transit is
something more people are looking for in their new home location.
4. What type of home do you want? Once you have determined
your options for cost and location, you can then assess what types of
homes are available in your price range and desired neighbourhood:
Single-family detached, semi-detached, townhome or condo?
So many questions, so many choices. The good news is, home
builders today are in sync with customer preferences for location
and amenities, and with market realities with regard to pricing and
needs for energy e� ciency. Your options for new-home product
have never been better.
+ get social
Editor’s Note
Interact with us on social media: ypnexthome
Buying your fi rst home? We’re here to help
YFH 02-06-16_master.indd 8 2016-02-02 1:03 PM
COMING THIS SPRINGA NEW ERA OF LIVING
IN BRAMPTON 5%
deposit!only a
buy with
Illustration is artist’s concept. Brick colours may vary from colours shown. Prices and specifications are subject to change without notice. All brand names, logos, images, text and graphics are the copyright of the owners, The Daniels Corporation. Reproduction in any form, without prior written permission from The Daniels Corporation, is strictly prohibited. Brokers Protected. E.&.O.E.
DON’T MISS OUT REGISTER TODAY!
OMGdaniels.com 905-874-8880
• Studios to 3 Bedroom suite designs
• Close to parks, walking trails, schools and recreational facilities
• Steps from Brampton Transit
• Located minutes from Highways 401 and 407
Love Where You Live™, Work, Play and Shop at Daniels’
Olivia Marie Gardens!
Coming this spring to the northeast corner of Mississauga Road and Olivia Marie Road, Daniels’ Olivia Marie Gardens Community is the best place to put down roots in this highly coveted Brampton location. These boutique condominium suites are unlike anything else in the city, offering Daniels’ quality construction in an energetic community, with exciting retail and everyday conveniences at your doorstep.
Boutique Condominium Suites from the $300,000s
ALREADY UNDER CONSTRUCTION
009-Daniels-OliviaMarie 02-06-16.indd 9 2016-02-02 11:46 AM
10 YPNEXTHOME.CA SPRING 2016 | YOUR FIRST HOME & CONDO 11
Property Profile | MENKES
IN THE HEART of Yonge and Eglinton,
Toronto’s hottest and fastest-
growing neighbourhood, Menkes
has completed demolition on the
site of The Eglinton, making way
for construction on this highly-
anticipated midtown project to begin.
This milestone brings The
Eglinton one step closer to reality
for those who want to live in a
vibrant, walkable community
close to eateries, entertainment,
offices, schools and parks, and
for savvy buyers who realize the
neighbourhood’s growing appeal.
“This important milestone in the
construction process is exciting not
only for our team at Menkes, but
for our buyers as well,” says Jared
Menkes, vice-president, highrise
residential. “Completing demolition
is a strong visual cue to purchasers,
and local residents, that we are one
step closer to making The Eglinton a
reality – right in the heart of Toronto’s
fastest growing neighbourhood.”
Transit is a top priority these days,
and it’s easy to get to any part of the
city with The Eglinton’s convenient
access to the Yonge Eglinton subway
line and the Eglinton Crosstown LRT.
The 34-storey glass tower designed
by Giannone Petricone Associates
is set on the south side of Eglinton
Avenue East, just blocks from the
corner of Yonge and Eglinton. The
Buyers rejoice as The Eglinton celebrates construction milestoneMenkes completes demolition in Toronto’s midtown
Eglinton offers an impressive array of
desired in-house amenities designed
by Mike Niven Interior Design (MNID),
including state-of-the-art wireless
lounge with Wi-Fi and High Definition
screens; party space with dining area
and gourmet kitchen; billiards room;
theatre and fitness studio.
Recognizing the trend towards
condo family living, The Eglinton also
features a dedicated kids’ room.
NAK Design Group has created a
landscaped terrace with sun deck,
lounge seating, barbecue facilities
and outdoor dining area, overlooking
Forest Hill and North Toronto and the
city skyline south to Lake Ontario.
Suites come in a range of layouts,
from studios to two-bedrooms, from
359 to 871 sq. ft., priced from the
mid $200,000s. Features and finishes
include laminate flooring throughout,
porcelain or ceramic tile floors in the
bathroom and in-suite laundry area
with stacked washer and dryer.
Kitchens feature cabinetry custom
designed by Mike Niven Interior
Design, quartz countertops with
ceramic or porcelain backsplash;
stainless steel under-mounted sinks
with single lever faucet; and, brand
name appliances. The master ensuite
includes an MNID custom vanity with
cultured marble top and integrated
sink; full width mirror and soaker tub.
Occupancy of The Eglinton is
anticipated for fall 2018.
To learn more about The Eglinton,
visit the Menkes Condo Centre at 770
Bay St. Open from noon to 6 p.m.
Monday to Thursday, closed Friday
and open on Saturday, Sunday, and
holidays from noon to 5 p.m.
For more information, please
call 416.591.7700 or email
go to menkes.com
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For further information contact:
MANCINI Homes Ltd.
452 Nineteenth AvenueRichmond Hill, ON L4E 3P7
FEATURING EXECUTIVETWO STOREYS & BUNGALOWS
Stone and Brick Veneer • Hardwood Floors Oak Stairs • Walkout Lots
Walking Distance to Lakehead University
905-773-9997 | mancinihomes.ca | [email protected]
Starting from the $300’s
Lifestyle in OrilliaPhase 4 coming Summer 2016
MANCINIH O M E S LT D .
where tradition and innovation meet
PHASE 3OVER 70% SOLD!
“THE FUJI” MODEL
“THE ALPS” MODEL
KAWARTHA LAKES COMING SPRING 2016
011-Mancini-Corp 01-30-16.indd 11 2016-02-02 5:08 PM
12 YPNEXTHOME.CA SPRING 2016 | YOUR FIRST HOME & CONDO 13
SO HERE YOU ARE – newly married,
just returned from a glorious
honeymoon, and planning to move
from a rental into your own home…
Where do you start?
The fi rst thing to consider is
whether you want a condominium or
freehold home. Each comes with its
own unique legal and other issues.
» Condominium ownership: Most
people think of condominiums
as highrise apartments only. This
is no longer true. Condominiums
can include townhouses, semi-
detached or detached homes.
Condos can also take the form of
common element condominiums
(such as a shared swimming pool,
common road or park), phased
condominium corporations, vacant
land condominiums or leasehold
condominiums. Condominiums are
created under the Condominium Act
of Ontario, as, among other things,
a means of sharing common costs
and ownership. You basically own
the inside of your unit and the condo
corporation owns everything else.
» Freehold: Generally speaking, this is
how previous generations purchased
homes. You own your domain, and
what you do with your property is
your choice. Insurance, heat, hydro,
property tax, maintenance – all are
your personal responsibility, and you
manage them as necessary. In other
words, you cut your own grass and
take out your own garbage.
Now that you know what kind of
Advice | LEGALLY SPEAKING
learning more about the area (visit
ypnexthome.ca). Do not sign an
o� er without fi rst having your lawyer
review sales documents, for your own
protection.
Another important matter to look at
is insurance. You will need insurance
for your new house, including
mortgage insurance, and you might
also consider reviewing your life and
disability insurance, to make sure
you are protected in case something
happens to the major wage earner.
You will need home insurance before
the deal closes.
Finally, you need to understand
how much money you need. It is not
just the purchase price, but all the
other fi nancial considerations: legal
fees, disbursements, Land Transfer
Tax, fi nal adjustments on a new home,
mortgage fees (CMHC premiums),
home inspector costs and home
insurance premiums. Be prepared.
By Jayson Schwarz
MORE ADVICE ONLINEypnexthome.ca/news/advice
Jayson Schwarz LL.M. is a Toronto real estate lawyer and senior partner in the law fi rm Schwarz Law LLP. If you have a topic in mind, mail, deliver or fax letters to the magazine or to the fi rm, email ([email protected]) and give us your questions, concerns, critiques and quandaries.
home options you have, let’s look at
the di� erences in new and resale. A
resale home is generally in move-in
condition (subject to inspection) and
you get immediate occupancy upon
closing. You may have no warranty and
need to consider the condition of the
home. When are buying a resale home,
except in special circumstances, there
is no HST because you are purchasing a
used residence.
Today, when you buy a new home,
you can be years from occupancy.
You have the comfort of knowing
that Tarion Warranty Corp. is there
to warranty the construction. It is
fresh, never lived-in and the choice
of fi nishings is yours. In a new home,
most builders include HST in the
purchase price. Builders also get an
assignment of the HST rebate that
you qualify for, as long as you are a
Canadian resident and your settled
intention is for you or immediate
family to reside in the home. You will
simply sign the forms and the issue
will have no e� ect on your purchase.
You will also need to educate
yourself, by reading articles (see
schwarzlaw.ca), attending seminars,
going online to research prospective
builders (at tarion.com), and
Buying your fi rst home?Here’s what you need to know
YFH 02-06-16_master.indd 12 2016-02-02 1:03 PM
*Certain Terms and Conditions shall apply. Full disbursement disclosure.
TORONTO OFFICE1984 Yonge St.,Toronto
Ontario M4S 1Z7
416.486.2040 Toll Free: 1.888.609.8888
Fax 416.486.3325
BRAMPTON BRANCH OFFICE10 Wilkinson Rd. Unit 22.,
Brampton, Ontario L6T 5B1
905.455.5777Toll Free: 1.888.609.8888
Fax 905.452.8135
Quality legal services at the right price*
$849plus HST
BUYING YOUR FIRST HOME OR CONDO? Helping YOU make your home buying dream a reality.
www.schwarzlaw.ca
For Free Offer ReviewCall
WOW, our own house?!
013-Schwarz-Legal 02-06-16.indd 43 2016-02-02 11:47 AM
14 YPNEXTHOME.CA SPRING 2016 | YOUR FIRST HOME & CONDO 15
Property Profile | HI-RISE WEST INC.
WANT SOME INSIDER information about the
hottest area in Toronto to invest in? It isn’t
north; it isn’t south; it isn’t west. All indicators
point to the area that hugs the Danforth –
Toronto’s colourful, quirky, eclectic east end.
This burgeoning area is quickly becoming the
place to live for people who want to be close
to the downtown core, but not in it; for people
who love the bohemian pull of a community
that is gentrifying faster than anywhere else in
the city but with an affordable price tag. The
opportunity to buy here is still possible, but the
experts agree; the time to act is now before
demand forces prices up.
The east end is where Spice can serve up a
tasty lifestyle infused with all of the ingredients
necessary for flavourful living! Hi-Rise West Inc.
is building an intimate enclave of one- and two-
storey urban townhomes where Danforth Road
and Danforth Avenue merge.
Offering units from 749 to 1,029 sq. ft., these
are architecturally precise townhomes designed
to appeal to contemporary sensibilities. Homes
feature soaring nine-ft. ceilings, open concept
designs including two-bedroom plus den
models as well as three-bedroom models,
exceptional finishing details, convenient
underground parking and beautifully landscaped
grounds. Upper units have sun-drenched
rooftop terraces designed to maximize al
fresco living. These are condominium homes
that provide complete lock and leave living; no
grounds maintenance, no gardening, no snow
shoveling, no worries.
They provide the perfect residence for
busy people who want to spend their time
enjoying their home and neighbourhood,
not grooming it!
Close to the Warden and Victoria Park subway
stations, the area surrounding Spice has a transit
score of 80 (excellent rating) and a walk score
of 79 – meaning you can take care of most
errands on foot. The immediate area boasts
close to 50 restaurants, cafes, bars and clubs,
three parks and three major grocery stores.
Spice residents will be able to walk to cool
shops and boutiques, schools and day care.
Nature lovers will be thrilled with the proximity
to the Beaches, The Bluffs and the Boardwalk.
You can be at in the heart of downtown
Toronto in less than half an hour making Spice a
commuter’s dream location. The area is serviced
by 10 bus routes as well as The Danforth GO
Station which is a fast 15-minute walk away.
If you’re ready to add some spice to your
life, don’t miss the opportunity to become a
Spice Insider.
Visit spiceondanforth.com to register and you’ll
receive up-to-the-minute VIP information, or
visit the presentation centre at 3194 Danforth
Ave., 416.932.3443.
Want to add a little
SPICE to your life?
The following pages feature new homes and condos from some of the area’s most prominent builders
southwestern ontario
FOCUS ON…
YFH 02-06-16_master.indd 14 2016-02-02 1:03 PM
14 YPNEXTHOME.CA SPRING 2016 | YOUR FIRST HOME & CONDO 15
Property Profile | HI-RISE WEST INC.
WANT SOME INSIDER information about the
hottest area in Toronto to invest in? It isn’t
north; it isn’t south; it isn’t west. All indicators
point to the area that hugs the Danforth –
Toronto’s colourful, quirky, eclectic east end.
This burgeoning area is quickly becoming the
place to live for people who want to be close
to the downtown core, but not in it; for people
who love the bohemian pull of a community
that is gentrifying faster than anywhere else in
the city but with an affordable price tag. The
opportunity to buy here is still possible, but the
experts agree; the time to act is now before
demand forces prices up.
The east end is where Spice can serve up a
tasty lifestyle infused with all of the ingredients
necessary for flavourful living! Hi-Rise West Inc.
is building an intimate enclave of one- and two-
storey urban townhomes where Danforth Road
and Danforth Avenue merge.
Offering units from 749 to 1,029 sq. ft., these
are architecturally precise townhomes designed
to appeal to contemporary sensibilities. Homes
feature soaring nine-ft. ceilings, open concept
designs including two-bedroom plus den
models as well as three-bedroom models,
exceptional finishing details, convenient
underground parking and beautifully landscaped
grounds. Upper units have sun-drenched
rooftop terraces designed to maximize al
fresco living. These are condominium homes
that provide complete lock and leave living; no
grounds maintenance, no gardening, no snow
shoveling, no worries.
They provide the perfect residence for
busy people who want to spend their time
enjoying their home and neighbourhood,
not grooming it!
Close to the Warden and Victoria Park subway
stations, the area surrounding Spice has a transit
score of 80 (excellent rating) and a walk score
of 79 – meaning you can take care of most
errands on foot. The immediate area boasts
close to 50 restaurants, cafes, bars and clubs,
three parks and three major grocery stores.
Spice residents will be able to walk to cool
shops and boutiques, schools and day care.
Nature lovers will be thrilled with the proximity
to the Beaches, The Bluffs and the Boardwalk.
You can be at in the heart of downtown
Toronto in less than half an hour making Spice a
commuter’s dream location. The area is serviced
by 10 bus routes as well as The Danforth GO
Station which is a fast 15-minute walk away.
If you’re ready to add some spice to your
life, don’t miss the opportunity to become a
Spice Insider.
Visit spiceondanforth.com to register and you’ll
receive up-to-the-minute VIP information, or
visit the presentation centre at 3194 Danforth
Ave., 416.932.3443.
Want to add a little
SPICE to your life?
The following pages feature new homes and condos from some of the area’s most prominent builders
southwestern ontario
FOCUS ON…
YFH 02-06-16_master.indd 15 2016-02-02 1:03 PM
Presentation Centre:5210 Dundas Street West, Burlington
Monday - Thursday: 3pm - 8pmFriday by appointment
Saturday, Sunday & Holidays: 12 noon - 5 pmAdiDevelopments.com | 905-592-2028
Stunning Condo + Loft Designs Bronte Creek Provincial ParkSimply The Best
In Burlington.Construction Has Started.
LINK2 Condos + Lofts offers modern
residences overlooking a landscaped
courtyard, a 2 level recreational centre with
spacious outdoor terraces and delivers
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COMING SOON3-Storey Townhomes
You’ve Arrived.
Burlington At Aldershot GO Station$300’sfrom
the high
If a modern vibe is what propels you, then this is your station. Go and arrive
in style from StationWest, where smart, open concept 2 and 3 bedroom
townhomes – many with private rooftop terraces – ranging from 1,200 to
2,100 sq.ft. make up this uber-connected, masterplanned community.
Register Now for opportunity to preview.
Register Now! AdiDevelopments.comExclusive Listing: Baker Real Estate Incorporated, Brokerage. Brokers Protected.
Illustrations are artists concept. Prices and specifications subject to change without notice. E. & O.E.
Join Us On
Striking.Seductive.Decidedlydifferent.
Sophisticated Condominiums OnDowntown Burlington’s Waterfront
Presenting a rare opportunity to own at a
most coveted address. Design-infused
waterfront condominium residences
coupled with indulgent amenities.
Presentation Centre & Model Suite:375 Brant Street - Downtown Burlington
Monday - Thursday: 1pm - 6pmFriday by appointment
Saturday, Sunday & Holidays: 12 noon - 5 pmAdiDevelopments.com | 289-337-0766
Qxxxx_Your First Home_2016_Q9160_Builders Annual_2013 1/26/16 2:40 PM Page 1
16 YPNEXTHOME.CA
016-017-Adi-Corp 02-06-16.indd 16 2016-02-02 11:47 AM
Presentation Centre:5210 Dundas Street West, Burlington
Monday - Thursday: 3pm - 8pmFriday by appointment
Saturday, Sunday & Holidays: 12 noon - 5 pmAdiDevelopments.com | 905-592-2028
Stunning Condo + Loft Designs Bronte Creek Provincial ParkSimply The Best
In Burlington.Construction Has Started.
LINK2 Condos + Lofts offers modern
residences overlooking a landscaped
courtyard, a 2 level recreational centre with
spacious outdoor terraces and delivers
modern style, comfort and superior quality.
COMING SOON3-Storey Townhomes
You’ve Arrived.
Burlington At Aldershot GO Station$300’sfrom
the high
If a modern vibe is what propels you, then this is your station. Go and arrive
in style from StationWest, where smart, open concept 2 and 3 bedroom
townhomes – many with private rooftop terraces – ranging from 1,200 to
2,100 sq.ft. make up this uber-connected, masterplanned community.
Register Now for opportunity to preview.
Register Now! AdiDevelopments.comExclusive Listing: Baker Real Estate Incorporated, Brokerage. Brokers Protected.
Illustrations are artists concept. Prices and specifications subject to change without notice. E. & O.E.
Join Us On
Striking.Seductive.Decidedlydifferent.
Sophisticated Condominiums OnDowntown Burlington’s Waterfront
Presenting a rare opportunity to own at a
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Presentation Centre & Model Suite:375 Brant Street - Downtown Burlington
Monday - Thursday: 1pm - 6pmFriday by appointment
Saturday, Sunday & Holidays: 12 noon - 5 pmAdiDevelopments.com | 289-337-0766
Qxxxx_Your First Home_2016_Q9160_Builders Annual_2013 1/26/16 2:40 PM Page 1
SPRING 2016 | YOUR FIRST HOME & CONDO 17
016-017-Adi-Corp 02-06-16.indd 17 2016-02-02 11:47 AM
18 YPNEXTHOME.CA SPRING 2016 | YOUR FIRST HOME & CONDO 19
Property Profile | ADI DEVELOPMENT GROUP
ADI DEVELOPMENT GROUP is
introducing a dramatic lifestyle
shift with Stationwest, a new transit-
oriented community in Burlington’s
west end with contemporary
townhomes that offer families
room to grow.
Arriving early 2016, the project’s
first phase consists of a collection of
spacious conventional and back-to-
back townhomes ranging from about
1,200 to 2,200 sq. ft. with backyards
and rooftop terraces.
Starting from the high $300,000s,
two- and three-bedroom layouts
are ideal for first-time homebuyers,
families and empty nesters alike.
“With Stationwest, we’re not just
building for today. We’re targeting
connectivity and walkability to build
for the future,” says Tariq Adi, CEO
of Adi Development Group. “We’re
creating a mobility hub that will help
realize the full potential of Burlington
West, the newest hot spot in the city.”
Located at the Aldershot GO
Station, Stationwest’s ideal location
allows residents to connect directly to
Union Station in less than an hour and
access to the urban conveniences
of close by Village of Waterdown’s
quaint downtown.
With Stationwest, Adi Development
Group is bringing its signature
cutting-edge contemporary
aesthetic and attention to detail to
this lowrise community.
Bold geometric facades by ICON
Architects leverage a palette of
natural materials to create an eclectic,
modern streetscape. Mirroring this
groundbreaking project, every detail
has been carefully selected with
features typically reserved for custom
homes, from aluminum and frosted
glass garage doors to oversized
windows and framed glass balconies.
“At Stationwest, you can walk out
Stationwest introduces a transit-connected lifestyle in Aldershot
of your door and onto the train while
still coming home to a quiet, green
neighbourhood,” says Saud Adi, COO
of Adi Development Group. “This will
be one of the last opportunities to
own in a transit-connected lowrise
community of this size in Burlington.”
Register at adidevelopments.com
to be among the first to preview
this anticipated community.
For more information, email
You’ve arrived
YFH 02-06-16_master.indd 18 2016-02-02 1:03 PM
Discover eastforest homes!Where Your Home Is Your Destination
fUNctioN& Style
Traditional, Modern Or Simply Unique!Whatever your style might be, you will find it in one of our great communities.
follow us!
eastforesthomes.com/communities
Prices correct at press time. Images used above are the actual Model Homes. Broker protected. Promotions and incentives can be changed or cancelled at any time with out notice. Please see Sales Representative for details. E. & O.E., January 2016
Over 7000 Dreams Built, Over 7000 Unique StylesCondos • Towns • Semis • Detached • Bungalows
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SPRING 2016 | YOUR FIRST HOME & CONDO 19
019-Eastforest-Corp 02-06-16.indd 19 2016-02-02 3:27 PM
20 YPNEXTHOME.CA SPRING 2016 | YOUR FIRST HOME & CONDO 21
PURCHASING A HOME will be one of
the biggest investments you’ll ever
make. If you’re just starting to look,
there are a few steps you’ll need to
take before you can buy a home.
Determine how much you can a� ord
First, you have to determine what you
can a� ord. Your a� ordability is based
on your household income, your
current monthly debt payments and
the costs associated with owning a
home (such as property taxes, heating
costs, and condo fees).
A lender will also look at two
ratios to fi gure out how large your
mortgage can be. The fi rst is called
the gross debt service ratio. Your
monthly housing costs for (principal
and interest, taxes, and heating
costs) shouldn’t be more than 32
per cent of your gross income.
The second is called the total debt
service ratio, which includes your
housing costs as well as any loan
expenses (such as credit card and
line of credit payments, and car
loans or leases). This ratio shouldn’t
be higher than 40 per cent of your
gross income.
You also have to come up with
enough money to make a down
payment. You’ll need to have a
minimum of fi ve per cent. If you’re
able to come up with a down
payment of 20 per cent or more, you
won’t need mortgage loan insurance.
And you should also have money
saved for closing costs, which could
be between 1.5 and four per cent of
the purchase price of your property.
Dip into savings
Once you’ve determined how much
you’ll need, you’ll have to fi nd a
source for your down payment and
closing costs, one of which can be
your RRSP.
Under the Home Buyers’ Plan, you
can withdraw up to $25,000 from
your RRSP on a tax-free basis as
long as the funds have been in the
plan for more than 90 days. If you’re
purchasing a property with a partner
who’s also a fi rst-time buyer, you’ll
each be able with withdraw $25,000.
Keep in mind that the money has to
be paid back starting the second year
after you make the withdrawal and
you have up to 15 years to repay the
amount. If you don’t make an annual
payment, you’ll have to declare it as
taxable income on your tax return
for that year.
If your RRSPs or other savings
aren’t enough, your family may
be able to help you. In fact, a 2015
BMO survey found 42 per cent of
fi rst-time buyers expect their parents
or relatives to help pay for their
fi rst home.
Shop for a mortgage
It can pay to shop around. If you
and your partner go with the
fi rst mortgage rate you fi nd, you
could end up paying a lot more.
Let’s assume the following: you
plan on buying a $500,000 home
with a $400,000 mortgage, your
amortization period will be 25 years,
and you have a fi ve-year fi xed rate
of 3.5 per cent. That means your
total mortgage payment will be
$1,997 a month.
But if you do a little research, you
could save some money. If you’re
able to get a mortgage with a fi ve-
year fi xed rate of 2.5 per cent, your
payments will be $1,792, a di� erence
of $205 a month or $2,460 a year.
That’s why you should look for the
best mortgage rates.
You need to be ready fi nancially
before you’re able to purchase
a property. Knowing what steps
are involved to become a fi rst-
time homebuyer will allow you
to start your search for buying
a home.
Advice | MORTGAGE ADVICE
First-time homebuyers 3 steps required to get into the market
By Alyssa Richard
MORE ADVICE ONLINEypnexthome.ca/news/advice
Alyssa Richard is the founder and CEO of ratehub.ca, a mortgage rate comparison site that aims to empower Canadians to make smart fi nancial decisions.
YFH 02-06-16_master.indd 20 2016-02-02 1:03 PM
Presentation Centre351 Dundas St. E. Oakville
Mon-Thu 1PM-7PM,FRIDAY: BY APPOINTMENT,
Sat & Sun 12PM-5PM
branthaven.com/oakvillageA JOINT DEVELOPMENT WITH 289.725.7777
Renderings are artists’ concept. Prices, photos and specifications are subject to change without notice. E.&O.E.
PARKING
QEW
HWY 407
TRAF
ALGA
R R
D.TR
AFAL
GAR
RD.
HWY
403
DUNDAS ST. E. DUNDAS ST. E.
SALESOFFICE
OnlyMinutes
to theGO Train
Shops &Services
Shops &Services
Oakville
21’ FREEHOLDTOWNS INOAKVILLE
OYES!
LivetheLife
TM
Spacious Townsfrom the mid $400’s
IncludesThese Great
Features
LuxuriousAward-winning
Designs
• Extra 5’Garage Depth
• 3 Bedroom Designs• Lock-&-Leave Lifestyle• Open Concept Layouts
• Cooks Kitchens• Minutes to QEW,
403, 401, 407
OWOW!
Includesover $12,000in UpgradedStandards
YFHNHC OV Jan22.pdf 1 2016-01-22 12:03 PM
Presentation Centre351 Dundas St. E. Oakville
Mon-Thu 1PM-7PM,FRIDAY: BY APPOINTMENT,
Sat & Sun 12PM-5PM
branthaven.com/oakvillageA JOINT DEVELOPMENT WITH 289.725.7777
Renderings are artists’ concept. Prices, photos and specifications are subject to change without notice. E.&O.E.
PARKING
QEW
HWY 407
TRAF
ALGA
R R
D.TR
AFAL
GAR
RD.
HWY
403
DUNDAS ST. E. DUNDAS ST. E.
SALESOFFICE
OnlyMinutes
to theGO Train
Shops &Services
Shops &Services
Oakville
21’ FREEHOLDTOWNS INOAKVILLE
OYES!
LivetheLife
TM
Spacious Townsfrom the mid $400’s
IncludesThese Great
Features
LuxuriousAward-winning
Designs
• Extra 5’Garage Depth
• 3 Bedroom Designs• Lock-&-Leave Lifestyle• Open Concept Layouts
• Cooks Kitchens• Minutes to QEW,
403, 401, 407
OWOW!
Includesover $12,000in UpgradedStandards
YFHNHC OV Jan22.pdf 1 2016-01-22 12:03 PM
Presentation Centre351 Dundas St. E. Oakville
Mon-Thu 1PM-7PM,FRIDAY: BY APPOINTMENT,
Sat & Sun 12PM-5PM
branthaven.com/oakvillageA JOINT DEVELOPMENT WITH 289.725.7777
Renderings are artists’ concept. Prices, photos and specifications are subject to change without notice. E.&O.E.
PARKING
QEW
HWY 407
TRAF
ALGA
R R
D.TR
AFAL
GAR
RD.
HWY
403
DUNDAS ST. E. DUNDAS ST. E.
SALESOFFICE
OnlyMinutes
to theGO Train
Shops &Services
Shops &Services
Oakville
21’ FREEHOLDTOWNS INOAKVILLE
OYES!
LivetheLife
TM
Spacious Townsfrom the mid $400’s
IncludesThese Great
Features
LuxuriousAward-winning
Designs
• Extra 5’Garage Depth
• 3 Bedroom Designs• Lock-&-Leave Lifestyle• Open Concept Layouts
• Cooks Kitchens• Minutes to QEW,
403, 401, 407
OWOW!
Includesover $12,000in UpgradedStandards
YFHNHC OV Jan22.pdf 1 2016-01-22 12:03 PM
Presentation Centre351 Dundas St. E. Oakville
Mon-Thu 1PM-7PM,FRIDAY: BY APPOINTMENT,
Sat & Sun 12PM-5PM
branthaven.com/oakvillageA JOINT DEVELOPMENT WITH 289.725.7777
Renderings are artists’ concept. Prices, photos and specifications are subject to change without notice. E.&O.E.
PARKING
QEW
HWY 407
TRAF
ALGA
R R
D.TR
AFAL
GAR
RD.
HWY
403
DUNDAS ST. E. DUNDAS ST. E.
SALESOFFICE
OnlyMinutes
to theGO Train
Shops &Services
Shops &Services
Oakville
21’ FREEHOLDTOWNS INOAKVILLE
OYES!
LivetheLife
TM
Spacious Townsfrom the mid $400’s
IncludesThese Great
Features
LuxuriousAward-winning
Designs
• Extra 5’Garage Depth
• 3 Bedroom Designs• Lock-&-Leave Lifestyle• Open Concept Layouts
• Cooks Kitchens• Minutes to QEW,
403, 401, 407
OWOW!
Includesover $12,000in UpgradedStandards
YFHNHC OV Jan22.pdf 1 2016-01-22 12:03 PM
Presentation Centre351 Dundas St. E. Oakville
Mon-Thu 1PM-7PM,FRIDAY: BY APPOINTMENT,
Sat & Sun 12PM-5PM
branthaven.com/oakvillageA JOINT DEVELOPMENT WITH 289.725.7777
Renderings are artists’ concept. Prices, photos and specifications are subject to change without notice. E.&O.E.
PARKING
QEW
HWY 407
TRAF
ALGA
R R
D.TR
AFAL
GAR
RD.
HWY
403
DUNDAS ST. E. DUNDAS ST. E.
SALESOFFICE
OnlyMinutes
to theGO Train
Shops &Services
Shops &Services
Oakville
21’ FREEHOLDTOWNS INOAKVILLE
OYES!
LivetheLife
TM
Spacious Townsfrom the mid $400’s
IncludesThese Great
Features
LuxuriousAward-winning
Designs
• Extra 5’Garage Depth
• 3 Bedroom Designs• Lock-&-Leave Lifestyle• Open Concept Layouts
• Cooks Kitchens• Minutes to QEW,
403, 401, 407
OWOW!
Includesover $12,000in UpgradedStandards
YFHNHC OV Jan22.pdf 1 2016-01-22 12:03 PM
021-Branthaven-Oakvillage 02-06-16.indd 21 2016-02-02 3:27 PM
22 YPNEXTHOME.CA SPRING 2016 | YOUR FIRST HOME & CONDO 23
SO MUCH IS MADE of how hot and
strong some real estate markets in
Canada have become. Most areas
in Southwestern Ontario, however,
usually don’t make the conversation.
But perhaps they should.
Hamilton, Kitchener-Waterloo and
London may not generate the same
level of attention as Toronto, but that’s
not necessarily a bad thing.
Strong value appreciation of
lowrise homes in the GTA, for
example, is great for those who
already own a home, but hardly
welcoming for those looking to get
into the market, particularly first-
time buyers. Combined with limited
supply, affordability is becoming a
growing concern there.
In Southwestern Ontario, by
comparison, there’s absolutely nothing
wrong with slow and steady.
In fact, looking back over the
last 20 years in terms of price
appreciation, Hamilton-Burlington
ranks fourth overall in Canada, with a
6.17-per-cent annual rate of return,
according to data from ReMax. The
vaunted GTA market? Only slightly
ahead in third, with 6.21 per cent
annual return; on a national level,
the figure is 5.82 per cent.
In another measure, a list of the
hottest markets in Canada where you
can easily buy a home for less than
$500,000 (as of Feb. 15, 2016 the new
price threshold for the minimum down
payment requirement of five per cent).
Care to guess how SWO ranked?
Would you be surprised to learn that
Southwestern Ontario occupies two
of the top five spots, and four of the
top 10?
Indeed, using average price growth
over the last year to determine just
how hot, London ranks number one.
Hamilton comes in at number five,
while Niagara-St. Catharines and
Kitchener-Waterloo and Cambridge
are seven and eight, respectively.
Just as importantly is that prices in
these markets are so affordable, that
none are in danger of crossing the
$500,000 threshold any time soon.
Trending
By Wayne Karl
4 appealing markets in Southwestern Ontario
SOURCE: CANADA MORTGAGE AND HOUSING CORP. HOUSING MARKET OUTLOOK
London
Housing starts will increase seven
per cent to 2,300 in 2016 and will
grow again in 2017. MLS sales will
increase 3.5 per cent to 9,500 sales
in 2016, and be higher in 2017.
“Greater household formation
will lead to greater housing
demand in London in 2016,” says
Anthony Passarelli, market analyst
for London. “Improved labour
market conditions will cause a
larger percentage of London’s
growing number of 25 to 34 year
olds to leave the parental home to
form their own households.
“Less choice in the resale market
will lead to greater growth in the
average price and higher housing
starts next year. Higher carrying
costs, due to rising prices and
mortgage rates that will start to
edge up in late 2016, will have
little effect on homeownership
demand in London.”
Hamilton
Housing starts will stabilize near
2,400 units in 2016 and 2017,
following a decline in 2015.
Fewer single-detached housing
starts in 2017 will be offset by
more multi-unit starts. High
mortgage carrying costs will
result in slightly lower demand
for single-detached housing in
2017, as this type of dwelling
is less affordable compared to
multi-unit housing.
“Relative to the GTA, Hamilton
is still considered a more affordable
housing market and will continue to
attract potential homebuyers from
the less affordable municipalities,”
says Abdul Kargbo, CMHC senior
market analyst for Hamilton and
Brantford.
Kitchener
Housing starts will decline to 2,615
units in 2016 and then be relatively
stable in 2017. Condo apartment
starts will decline, but from near
record levels in 2014, while single-
detached starts will trend higher.
Existing home sales are forecast
to increase in 2016 and remain
relatively unchanged in 2017.
The resale market is expected to
be balanced in KCW, with price
growth above two per cent.
“Housing starts will be trending
down closer to the long-term
rate of household formation next
year. Rising employment will
support housing demand. With
prices higher and mortgage rates
starting to edge up in late 2016,
demand will stabilize in 2017,”
says Erica McLerie, CMHC senior
market analyst.
Brantford
Total housing starts were on track
to reach 600 units for 2015, their
highest level since 2002, with
all dwelling types trending up.
However, starts will decline to a
sustainable level in 2016 and 2017,
as the current pace of construction
is exceptionally strong.
“Single-detached housing starts
will decline only slightly in 2016
and 2017,” says Abdul Kargbo,
senior market analyst for Hamilton
and Brantford.
“In-migration from Hamilton
took the top spot in supporting
Brantford’s population growth,
according to the 2013 migration
data from Statistics Canada. As a
result of tight market conditions
in Hamilton, some potential local
buyers will continue to move to
Brantford where house prices are
relatively low.”
Ê Here’s a snapshot of four appealing markets in Southwestern Ontario
YFH 02-06-16_master.indd 22 2016-02-02 1:03 PM
22 YPNEXTHOME.CA SPRING 2016 | YOUR FIRST HOME & CONDO 23
SO MUCH IS MADE of how hot and
strong some real estate markets in
Canada have become. Most areas
in Southwestern Ontario, however,
usually don’t make the conversation.
But perhaps they should.
Hamilton, Kitchener-Waterloo and
London may not generate the same
level of attention as Toronto, but that’s
not necessarily a bad thing.
Strong value appreciation of
lowrise homes in the GTA, for
example, is great for those who
already own a home, but hardly
welcoming for those looking to get
into the market, particularly first-
time buyers. Combined with limited
supply, affordability is becoming a
growing concern there.
In Southwestern Ontario, by
comparison, there’s absolutely nothing
wrong with slow and steady.
In fact, looking back over the
last 20 years in terms of price
appreciation, Hamilton-Burlington
ranks fourth overall in Canada, with a
6.17-per-cent annual rate of return,
according to data from ReMax. The
vaunted GTA market? Only slightly
ahead in third, with 6.21 per cent
annual return; on a national level,
the figure is 5.82 per cent.
In another measure, a list of the
hottest markets in Canada where you
can easily buy a home for less than
$500,000 (as of Feb. 15, 2016 the new
price threshold for the minimum down
payment requirement of five per cent).
Care to guess how SWO ranked?
Would you be surprised to learn that
Southwestern Ontario occupies two
of the top five spots, and four of the
top 10?
Indeed, using average price growth
over the last year to determine just
how hot, London ranks number one.
Hamilton comes in at number five,
while Niagara-St. Catharines and
Kitchener-Waterloo and Cambridge
are seven and eight, respectively.
Just as importantly is that prices in
these markets are so affordable, that
none are in danger of crossing the
$500,000 threshold any time soon.
Trending
By Wayne Karl
4 appealing markets in Southwestern Ontario
SOURCE: CANADA MORTGAGE AND HOUSING CORP. HOUSING MARKET OUTLOOK
London
Housing starts will increase seven
per cent to 2,300 in 2016 and will
grow again in 2017. MLS sales will
increase 3.5 per cent to 9,500 sales
in 2016, and be higher in 2017.
“Greater household formation
will lead to greater housing
demand in London in 2016,” says
Anthony Passarelli, market analyst
for London. “Improved labour
market conditions will cause a
larger percentage of London’s
growing number of 25 to 34 year
olds to leave the parental home to
form their own households.
“Less choice in the resale market
will lead to greater growth in the
average price and higher housing
starts next year. Higher carrying
costs, due to rising prices and
mortgage rates that will start to
edge up in late 2016, will have
little effect on homeownership
demand in London.”
Hamilton
Housing starts will stabilize near
2,400 units in 2016 and 2017,
following a decline in 2015.
Fewer single-detached housing
starts in 2017 will be offset by
more multi-unit starts. High
mortgage carrying costs will
result in slightly lower demand
for single-detached housing in
2017, as this type of dwelling
is less affordable compared to
multi-unit housing.
“Relative to the GTA, Hamilton
is still considered a more affordable
housing market and will continue to
attract potential homebuyers from
the less affordable municipalities,”
says Abdul Kargbo, CMHC senior
market analyst for Hamilton and
Brantford.
Kitchener
Housing starts will decline to 2,615
units in 2016 and then be relatively
stable in 2017. Condo apartment
starts will decline, but from near
record levels in 2014, while single-
detached starts will trend higher.
Existing home sales are forecast
to increase in 2016 and remain
relatively unchanged in 2017.
The resale market is expected to
be balanced in KCW, with price
growth above two per cent.
“Housing starts will be trending
down closer to the long-term
rate of household formation next
year. Rising employment will
support housing demand. With
prices higher and mortgage rates
starting to edge up in late 2016,
demand will stabilize in 2017,”
says Erica McLerie, CMHC senior
market analyst.
Brantford
Total housing starts were on track
to reach 600 units for 2015, their
highest level since 2002, with
all dwelling types trending up.
However, starts will decline to a
sustainable level in 2016 and 2017,
as the current pace of construction
is exceptionally strong.
“Single-detached housing starts
will decline only slightly in 2016
and 2017,” says Abdul Kargbo,
senior market analyst for Hamilton
and Brantford.
“In-migration from Hamilton
took the top spot in supporting
Brantford’s population growth,
according to the 2013 migration
data from Statistics Canada. As a
result of tight market conditions
in Hamilton, some potential local
buyers will continue to move to
Brantford where house prices are
relatively low.”
Ê Here’s a snapshot of four appealing markets in Southwestern Ontario
YFH 02-06-16_master.indd 23 2016-02-02 1:03 PM
24 YPNEXTHOME.CA SPRING 2016 | YOUR FIRST HOME & CONDO 25
Condo living on the horizon for new families
Advice | BILD REPORT
AS PRICES OF NEW LOWRISE HOMES
in the GTA continue to reach all-time
highs, more and more families are
calling new condominiums home.
The GTA continues to grow, with up
to 36,000 new families formed every
year, and demand for family-friendly
condominiums is on the rise.
The building and land
development industry is responding
to the demand for family-friendly
condos and many new highrise
developments feature larger suites,
extra storage space, outdoor space
and child-friendly amenities.
A key component of building family-
friendly condominiums is designing
suites that are practical and appealing
to parents with young children. That
means creating units that maximize
living space to keep the homes
a� ordable, while ensuring there is
ample space to store toys and strollers.
Builders are doing this through
sacrifi cing bedroom size to increase
living room space and to provide
deeper closets.
Developers such as H&W
Development Corp. are building
condos with larger suites that cater
to purchasers starting a family or
already raising kids. The suites at
the company’s Fontana Condos
development in Markham average
about 800 sq. ft., and the two-
bedroom plus den layouts garner
lots of attention from families with
small children.
The family-sized suites are
complimented by a two-acre urban
park adjacent to the development
that H&W is building with the City
of Markham. The park was designed
with families in mind, and features
a playground for the kids and
plenty of benches for their
accompanying parents.
Other projects, such as The Eglinton
by Menkes Developments in Toronto,
bring the playground indoors. The
Eglinton features a kids room with
child-friendly fl ooring, furniture and
built-in stations with toys designed to
stimulate learning.
Menkes was inspired to create
the child focused amenity space
because of the increase in the
number of families moving into its
developments in recent years. To
design the room, the developer
visited Hong Kong and New York City
to gain inspiration from global high-
rise capitals where raising kids in
condos is the norm. They even met
with childhood development experts
to learn what to incorporate into the
room to keep children stimulated.
The room will start out unsta� ed but
as more families with young children
move into the building, it may evolve
into a learning centre with dedicated
sta� running activities like storytelling
and puppet shows.
Across the GTA, child-oriented
amenities are becoming more
common in condo projects.
Amenities at Tridel’s Islington Terrace
development will include both
indoor and outdoor spaces designed
for children. Inside there will be
a colourful Children’s Play Room
with plenty of tables for activities
such as arts and crafts. Outside the
development will have a dedicated
Children’s Play Zone with a splash pad.
Meanwhile, Tridel’s Metrogate
community o� ers two daycare centres
on site. One is already operational with
the second set to open in conjunction
with the Avani 2 project.
MORE ADVICE ONLINEypnexthome.ca/news/advice
Bryan Tuckey is president and CEO of the Building Industry and Land Development Association and a land-use planner who has worked for municipal, regional and provincial governments. Follow him on Twitter @bildgta, facebook.com/bildgta, and bildblogs.ca
By Bryan Tuckey
A key component of building family-friendly condominiums is designing suites that are practical and appealing to parents with young children.
An excellent choice for first-time homebuyers
YFH 02-06-16_master.indd 24 2016-02-02 1:03 PM
24 YPNEXTHOME.CA SPRING 2016 | YOUR FIRST HOME & CONDO 25
Condo living on the horizon for new families
Advice | BILD REPORT
AS PRICES OF NEW LOWRISE HOMES
in the GTA continue to reach all-time
highs, more and more families are
calling new condominiums home.
The GTA continues to grow, with up
to 36,000 new families formed every
year, and demand for family-friendly
condominiums is on the rise.
The building and land
development industry is responding
to the demand for family-friendly
condos and many new highrise
developments feature larger suites,
extra storage space, outdoor space
and child-friendly amenities.
A key component of building family-
friendly condominiums is designing
suites that are practical and appealing
to parents with young children. That
means creating units that maximize
living space to keep the homes
a� ordable, while ensuring there is
ample space to store toys and strollers.
Builders are doing this through
sacrifi cing bedroom size to increase
living room space and to provide
deeper closets.
Developers such as H&W
Development Corp. are building
condos with larger suites that cater
to purchasers starting a family or
already raising kids. The suites at
the company’s Fontana Condos
development in Markham average
about 800 sq. ft., and the two-
bedroom plus den layouts garner
lots of attention from families with
small children.
The family-sized suites are
complimented by a two-acre urban
park adjacent to the development
that H&W is building with the City
of Markham. The park was designed
with families in mind, and features
a playground for the kids and
plenty of benches for their
accompanying parents.
Other projects, such as The Eglinton
by Menkes Developments in Toronto,
bring the playground indoors. The
Eglinton features a kids room with
child-friendly fl ooring, furniture and
built-in stations with toys designed to
stimulate learning.
Menkes was inspired to create
the child focused amenity space
because of the increase in the
number of families moving into its
developments in recent years. To
design the room, the developer
visited Hong Kong and New York City
to gain inspiration from global high-
rise capitals where raising kids in
condos is the norm. They even met
with childhood development experts
to learn what to incorporate into the
room to keep children stimulated.
The room will start out unsta� ed but
as more families with young children
move into the building, it may evolve
into a learning centre with dedicated
sta� running activities like storytelling
and puppet shows.
Across the GTA, child-oriented
amenities are becoming more
common in condo projects.
Amenities at Tridel’s Islington Terrace
development will include both
indoor and outdoor spaces designed
for children. Inside there will be
a colourful Children’s Play Room
with plenty of tables for activities
such as arts and crafts. Outside the
development will have a dedicated
Children’s Play Zone with a splash pad.
Meanwhile, Tridel’s Metrogate
community o� ers two daycare centres
on site. One is already operational with
the second set to open in conjunction
with the Avani 2 project.
MORE ADVICE ONLINEypnexthome.ca/news/advice
Bryan Tuckey is president and CEO of the Building Industry and Land Development Association and a land-use planner who has worked for municipal, regional and provincial governments. Follow him on Twitter @bildgta, facebook.com/bildgta, and bildblogs.ca
By Bryan Tuckey
A key component of building family-friendly condominiums is designing suites that are practical and appealing to parents with young children.
An excellent choice for first-time homebuyers
YFH 02-06-16_master.indd 25 2016-02-02 1:03 PM
26 YPNEXTHOME.CA SPRING 2016 | YOUR FIRST HOME & CONDO 27
Property Profile | THE DANIELS CORPORATION
SINCE THE DANIELS CORPORATION introduced
Lighthouse Tower last fall, sales have been
brisk at the first residential condominium in
this master-planned, mixed-use community. At
Lower Jarvis and Queens Quay East – a stone’s
throw to Sherbourne Common, the Water’s Edge
Promenade and Sugar Beach – this new gateway
to Toronto’s East Bayfront is also a pleasant stroll
or bike ride to the St. Lawrence Market, Distillery
District, Union Station, and just minutes to Billy
Bishop Airport and Toronto Island Ferry Terminal.
With TTC access and dedicated bike lanes easily
accessible, this location is an urban sensation.
Plus, within Daniels Waterfront – City of the Arts,
Sugar Beach North will be a tree-lined public
amenity space for outdoor celebrations and The
Yard pedestrian laneway will be lined with eateries
and retail venues for the ultimate in convenience.
Lighthouse Tower… A shining star from every direction
One of the best things about living at Lighthouse
Tower will be the views; Giannone Petricone
Associates Inc. designed the building to maximize
the vistas in all directions. Today, you’ll find a
spectacular selection of west-facing suites that
offer scintillating, ever-changing views. From the
bustling urban scene of shoppers and business
people rushing to their destinations during the
daytime, to thousands of lights peppering the
night sky and the breathtaking sunsets that
City of the ArtsLive, work, play, learn and create in Toronto’s hottest new waterfront community
transform one into the other, the views are
dynamic and inspiring.
Rising to 45 storeys, Lighthouse Tower’s
interiors are designed by Cecconi Simone, who
also appointed the fabulous model suite. With
a vision of attracting buyers with an artistic
sensibility, the model is anchored by a white
colour palette on which owners can infuse their
personality into their surroundings.
Smart layouts provide all the space for an exclusive and luxurious waterfront lifestyle
Daniels’ smart suite layouts come with superb
appointments including nine-ft. ceiling heights in
the principal rooms. Luxury underfoot will range
from laminate flooring to imported porcelain
and ceramics. The contemporary kitchens –
custom designed by Cecconi Simone – will
feature quartz countertops, Miele appliances and
enhanced bathroom vanities. Lighthouse Tower
suite choices, starting from $279,900, include
studio, one-bedroom, one-bedroom plus den
and two-bedroom layouts, spacious gallery
suites and penthouses are also available.
Visit the fully furnished model suite at the
presentation centre at 162 Queens Quay E.,
open Monday to Thursday 11 a.m. to 7 p.m.,
weekends and holidays noon to 6 p.m.,
Fridays, closed. Call 416.221.3939 or visit
danielswaterfront.com
Lighthouse TowerThe Yard
YFH 02-06-16_master.indd 26 2016-02-02 1:03 PM
GARDINER EXPY
QUEENS QUAY E
LAKE SHORE BLVD E
LOWER JARVIS ST
YONGE ST
RICHARDSON ST
LAKEONTARIO
GARDINER EXPY
QUEENS QUAY E
LAKE SHORE BLVD E
LOWER JARVIS ST
YONGE ST
RICHARDSON ST
LAKEONTARIO
GARDINER EXPY
QUEENS QUAY E
SUGARBEACH
LAKE SHORE BLVD E
LOWER JARVIS ST
YONGE ST
RICHARDSON ST
LAKEONTARIO
GARDINER EXPY
QUEENS QUAY E
SUGARBEACH
LAKE SHORE BLVD E
LOWER JARVIS ST
YONGE ST
RICHARDSON ST
LAKEONTARIO
GARDINER EXPY
QUEENS QUAY E
SUGARBEACH
LAKE SHORE BLVD E
LOWER JARVIS ST
YONGE ST
RICHARDSON ST
LAKEONTARIO
Presentation Centre162 Queens Quay East Monday to Thursday: 11am - 7pmWeekends & Holidays: 12pm - 6pmFridays: closed
416.221.3939DANIELSWATERFRONT.COM
SEE OUR FULLY FURNISHED MODEL SUITE
The Daniels Corporation proudly introduces the west facing suites of Lighthouse Tower at Daniels Waterfront – City of the Arts, a master-planned, mixed-use community surrounded by creativity, inspired by arts and driven by innovation. This visionary gateway to the East Bayfront, where Lower Jarvis meets Queens Quay, ushers in a new era of living, with awe inspiring views, exceptional amenities, luxurious suites and endless conveniences at your doorstep, including Sugar Beach North, a promenade featuring retail and public art, linking to Canada’s iconic sandy Sugar Beach to the south.
NOW ON SALE I SUITES FROM $279,900
Exclusive Listing: CityLife Realty Ltd. Brokerage. Brokers Protected. Illustrations are artist’s concept. Prices and specifi cations are subject to change without notice. E.& O.E. All brand names, logos, images, text and graphics are the copyright of the owners, The Daniels Corporation. Reproduction in any form, without prior written permission of The Daniels Corporation, is strictly prohibited. Actual view may not be exactly as shown. *5% deposit program available on select suites only, for a limited time.
SPECTACULAR CITY VIEWS STEPS FROM THE WATER. OWN THE BEST OF BOTH.
ON VALENTINE’S WEEKEND, WE’RE OFFERING FIRST-TIME HOME BUYERS A SUPER SWEET DEAL. FOR A LIMITED TIME ONLY, YOU CAN OWN AT LIGHTHOUSE TOWER FOR JUST 5% DOWN*.
SATURDAY, FEBRUARY 13TH, 11AM-12PMPRESENTATION STARTS AT 11:15AMSEATS ARE LIMITED. REGISTER [email protected]
LIVING AT SUGAR BEACH IS NOW WITHIN REACH!
FIND OUT HOW. REGISTER FOR OURFIRST-TIME HOME BUYER SEMINAR
WATF 44840 CNY Your First Home Ad FA.indd 1 1/22/16 3:17 PM
GARDINER EXPY
QUEENS QUAY E
LAKE SHORE BLVD E
LOWER JARVIS ST
YONGE ST
RICHARDSON ST
LAKEONTARIO
GARDINER EXPY
QUEENS QUAY E
LAKE SHORE BLVD E
LOWER JARVIS ST
YONGE ST
RICHARDSON ST
LAKEONTARIO
GARDINER EXPY
QUEENS QUAY E
SUGARBEACH
LAKE SHORE BLVD E
LOWER JARVIS ST
YONGE ST
RICHARDSON ST
LAKEONTARIO
GARDINER EXPY
QUEENS QUAY E
SUGARBEACH
LAKE SHORE BLVD E
LOWER JARVIS ST
YONGE ST
RICHARDSON ST
LAKEONTARIO
GARDINER EXPY
QUEENS QUAY E
SUGARBEACH
LAKE SHORE BLVD E
LOWER JARVIS ST
YONGE ST
RICHARDSON ST
LAKEONTARIO
Presentation Centre162 Queens Quay East Monday to Thursday: 11am - 7pmWeekends & Holidays: 12pm - 6pmFridays: closed
416.221.3939DANIELSWATERFRONT.COM
SEE OUR FULLY FURNISHED MODEL SUITE
The Daniels Corporation proudly introduces the west facing suites of Lighthouse Tower at Daniels Waterfront – City of the Arts, a master-planned, mixed-use community surrounded by creativity, inspired by arts and driven by innovation. This visionary gateway to the East Bayfront, where Lower Jarvis meets Queens Quay, ushers in a new era of living, with awe inspiring views, exceptional amenities, luxurious suites and endless conveniences at your doorstep, including Sugar Beach North, a promenade featuring retail and public art, linking to Canada’s iconic sandy Sugar Beach to the south.
NOW ON SALE I SUITES FROM $279,900
Exclusive Listing: CityLife Realty Ltd. Brokerage. Brokers Protected. Illustrations are artist’s concept. Prices and specifi cations are subject to change without notice. E.& O.E. All brand names, logos, images, text and graphics are the copyright of the owners, The Daniels Corporation. Reproduction in any form, without prior written permission of The Daniels Corporation, is strictly prohibited. Actual view may not be exactly as shown. *5% deposit program available on select suites only, for a limited time.
SPECTACULAR CITY VIEWS STEPS FROM THE WATER. OWN THE BEST OF BOTH.
ON VALENTINE’S WEEKEND, WE’RE OFFERING FIRST-TIME HOME BUYERS A SUPER SWEET DEAL. FOR A LIMITED TIME ONLY, YOU CAN OWN AT LIGHTHOUSE TOWER FOR JUST 5% DOWN*.
SATURDAY, FEBRUARY 13TH, 11AM-12PMPRESENTATION STARTS AT 11:15AMSEATS ARE LIMITED. REGISTER [email protected]
LIVING AT SUGAR BEACH IS NOW WITHIN REACH!
FIND OUT HOW. REGISTER FOR OURFIRST-TIME HOME BUYER SEMINAR
WATF 44840 CNY Your First Home Ad FA.indd 1 1/22/16 3:17 PM027-Daniels-Lighthouse 02-06-16.indd 27 2016-02-02 11:47 AM
28 YPNEXTHOME.CA SPRING 2016 | YOUR FIRST HOME & CONDO 29
IF YOU’RE PLANNING to buy a
condo as your fi rst home, here’s an
important lesson: proximity to major
transit hubs such as subway stations
is great for convenience, but it’ll
cost you.
How much? We’ll get to that in a
minute. But if you’re willing to walk a
little between home and the station,
you’ll be in for signifi cant savings.
Andrew Scott, senior market analyst,
housing markets and indicators,
Canada Mortgage and Housing Corp.
(CMHC), attaches some hard numbers
to the concept as it relates to the
Toronto highrise market.
Proximity to transit as a key
driver of real estate is not a new
concept; we’ve long known that
there’s a price to pay for access
and convenience.
“Distance is now measured in
minutes, not kilometres,” is how
the Real Estate Investment Network
(REIN) sums it up transportation as
one of the most dramatic catalysts for
real estate growth.
Generally, one of the attributes
coveted by homebuyers is nearness
to a city’s Central Business District
(CBD). Access to good highway
systems, mass transit and commuter
rail is sought to a� ord easy access to
the CBD.
The basic theory in real estate is
that the more attractive the location,
the higher the value of the home.
As the demand for homes in that
area expands, the result is higher
housing values.
In its study of the Greater
Toronto Area, REIN has found that
transportation projects will deliver
a 10- to 20-per-cent enhancement
of real estate values in the regions
most a� ected. If the market goes
up everywhere, these areas will
increase by about 10 to 20 per
cent more. If the values drop,
Trending
these will drop by 10 to 20 per
cent less.
The concept is not just a Toronto
phenomenon, or even a Canadian
one. Studies of the e� ect of
transportation improvements on
real estate around the world have
shown that value increases occur
for properties located within 500
to 800 metres of stations on new
transportation lines.
Several Toronto neighbourhoods
are expected experience such value
MORE TRENDING ONLINEypnexthome.ca/news
Buying a condo? The more you walk, the more you save
By Wayne Karl
increases when new rapid transit
stations are completed.
Future transit developments in Toronto that will shape highrise developments
» Toronto-York Spadina
Subway Extension
» Eglinton Crosstown
» Sheppard East LRT
» Scarborough Subway Expansion
» Finch West LRT
» SmartTrack
Walking distance Average price
per square foot
Less than 500 metres $632
500 to 999 metres $595
1,000 to 1,999 metres $557
More than 2,000 metres $492SOURCE: CMHC
Average new condominium price by walking distance from subway
PLANNING TO BUY your fi rst home and
not sure where to begin? Here are six
homebuying tips to help you prepare.
1. GET WITH THE PROGRAMS
There are various government programs
available to help you buy a home.
Home Buyers’ Plan (HBP): The
HBP allows fi rst-time buyers to
withdraw up to $25,000 from their
RRSP to put toward a down payment
on a home. You have up to 15 years
to repay the funds.
First-Time Home Buyers’ Tax
Credit (HBTC): Eligible fi rst-time
buyers can apply for the FTHB to
help o� set the costs associated with
purchasing a home, such as legal fees,
disbursements and land transfer taxes.
The credit can provide up to $750 in
federal tax relief.
More information on these programs
is available at cra.gc.ca
2. CONDOS ARE A GOOD BUY
First-time buyers can buy a home
with as little as fi ve per cent of the
purchase price as a down payment
– as long as the property is less than
$500,000. Anything higher than that,
and the minimum down payment for
the portion of the price higher than
$500,000 is 10 per cent. So, assuming
your price range is at that threshold,
you’ll need to come up with at least
$25,000.
At that purchase price, depending
on the market you’re in, this could
mean you’d then be looking at condo,
instead of a lowrise home.
While that may not be your fi rst
choice as a homebuyer, consider
this: for 2015, the average price of a
new highrise condo in the GTA was
$453,083; the average price of a new
lowrise home was $829,766.
3. CHECK WITH THE BANKOF MOM AND DAD
If your parents are baby boomers
who have had the good fortune of
building equity over the years as they
Trending
6 homebuying tips for fi rst-timers
paid down their mortgage while the
value of their property multiplied,
well… they may be in a position to
help. Many buyers are hitting up the
bank of mom and dad. In the last two
years, 28 per cent of fi rst-time buyers
called on the bank of mom and dad
to help fi nance their purchase; from
2010 to 2014, only 17 per cent did.
4. BECOME TECH SAVVY
Mortgage consumers are becoming
very tech savvy. In Canada Mortgage
and Housing Corp.’s 2015 Mortgage
Consumer Survey, 78 per cent of
respondents researched online,
with 70 per cent using an mortgage
calculator to help determine their
payments. And social media is playing
a more important role – 20 per cent
used sites such as Facebook to learn
more, 17 per cent used a mobile
device, and of those, 22 per cent used
a mortgage related app. And all of
these fi gures are growing.
5. BEFRIEND A BROKER OR BANKER
Like many things in life, it’s all about
relationships. And whether you
use broker or a banker to secure
a mortgage, you’ll likely come to
value the relationship. In the same
CMHC survey, consumer loyalty
strengthened the longer people
stayed with their lender. But since
we’re talking about money, people
are willing to switch lenders to
get a better rate and save – a fact
which is much more prevalent for
bankers than brokers. And because
brokers are able to o� er products
from multiple lenders, as opposed to
bankers who o� er only the products
of their own institution, the market
share held by brokers is growing
notably, particularly among repeat
buyers.
6.RESEARCH, RESEARCH, RESEARCH
These days, with prices rising as they
are and uncertainty in some markets,
thorough research is an absolute must.
Everything from your target area,
desired housing type, builder or realtor,
fi nances, how much you can a� ord,
who you borrow from and the structure
of your mortgage – take your time.
Take months. Don’t rush anything.
Anything.
MORE TRENDING ONLINEypnexthome.ca/news
By Wayne Karl
YFH 02-06-16_master.indd 28 2016-02-02 1:03 PM
28 YPNEXTHOME.CA SPRING 2016 | YOUR FIRST HOME & CONDO 29
IF YOU’RE PLANNING to buy a
condo as your fi rst home, here’s an
important lesson: proximity to major
transit hubs such as subway stations
is great for convenience, but it’ll
cost you.
How much? We’ll get to that in a
minute. But if you’re willing to walk a
little between home and the station,
you’ll be in for signifi cant savings.
Andrew Scott, senior market analyst,
housing markets and indicators,
Canada Mortgage and Housing Corp.
(CMHC), attaches some hard numbers
to the concept as it relates to the
Toronto highrise market.
Proximity to transit as a key
driver of real estate is not a new
concept; we’ve long known that
there’s a price to pay for access
and convenience.
“Distance is now measured in
minutes, not kilometres,” is how
the Real Estate Investment Network
(REIN) sums it up transportation as
one of the most dramatic catalysts for
real estate growth.
Generally, one of the attributes
coveted by homebuyers is nearness
to a city’s Central Business District
(CBD). Access to good highway
systems, mass transit and commuter
rail is sought to a� ord easy access to
the CBD.
The basic theory in real estate is
that the more attractive the location,
the higher the value of the home.
As the demand for homes in that
area expands, the result is higher
housing values.
In its study of the Greater
Toronto Area, REIN has found that
transportation projects will deliver
a 10- to 20-per-cent enhancement
of real estate values in the regions
most a� ected. If the market goes
up everywhere, these areas will
increase by about 10 to 20 per
cent more. If the values drop,
Trending
these will drop by 10 to 20 per
cent less.
The concept is not just a Toronto
phenomenon, or even a Canadian
one. Studies of the e� ect of
transportation improvements on
real estate around the world have
shown that value increases occur
for properties located within 500
to 800 metres of stations on new
transportation lines.
Several Toronto neighbourhoods
are expected experience such value
MORE TRENDING ONLINEypnexthome.ca/news
Buying a condo? The more you walk, the more you save
By Wayne Karl
increases when new rapid transit
stations are completed.
Future transit developments in Toronto that will shape highrise developments
» Toronto-York Spadina
Subway Extension
» Eglinton Crosstown
» Sheppard East LRT
» Scarborough Subway Expansion
» Finch West LRT
» SmartTrack
Walking distance Average price
per square foot
Less than 500 metres $632
500 to 999 metres $595
1,000 to 1,999 metres $557
More than 2,000 metres $492SOURCE: CMHC
Average new condominium price by walking distance from subway
PLANNING TO BUY your fi rst home and
not sure where to begin? Here are six
homebuying tips to help you prepare.
1. GET WITH THE PROGRAMS
There are various government programs
available to help you buy a home.
Home Buyers’ Plan (HBP): The
HBP allows fi rst-time buyers to
withdraw up to $25,000 from their
RRSP to put toward a down payment
on a home. You have up to 15 years
to repay the funds.
First-Time Home Buyers’ Tax
Credit (HBTC): Eligible fi rst-time
buyers can apply for the FTHB to
help o� set the costs associated with
purchasing a home, such as legal fees,
disbursements and land transfer taxes.
The credit can provide up to $750 in
federal tax relief.
More information on these programs
is available at cra.gc.ca
2. CONDOS ARE A GOOD BUY
First-time buyers can buy a home
with as little as fi ve per cent of the
purchase price as a down payment
– as long as the property is less than
$500,000. Anything higher than that,
and the minimum down payment for
the portion of the price higher than
$500,000 is 10 per cent. So, assuming
your price range is at that threshold,
you’ll need to come up with at least
$25,000.
At that purchase price, depending
on the market you’re in, this could
mean you’d then be looking at condo,
instead of a lowrise home.
While that may not be your fi rst
choice as a homebuyer, consider
this: for 2015, the average price of a
new highrise condo in the GTA was
$453,083; the average price of a new
lowrise home was $829,766.
3. CHECK WITH THE BANKOF MOM AND DAD
If your parents are baby boomers
who have had the good fortune of
building equity over the years as they
Trending
6 homebuying tips for fi rst-timers
paid down their mortgage while the
value of their property multiplied,
well… they may be in a position to
help. Many buyers are hitting up the
bank of mom and dad. In the last two
years, 28 per cent of fi rst-time buyers
called on the bank of mom and dad
to help fi nance their purchase; from
2010 to 2014, only 17 per cent did.
4. BECOME TECH SAVVY
Mortgage consumers are becoming
very tech savvy. In Canada Mortgage
and Housing Corp.’s 2015 Mortgage
Consumer Survey, 78 per cent of
respondents researched online,
with 70 per cent using an mortgage
calculator to help determine their
payments. And social media is playing
a more important role – 20 per cent
used sites such as Facebook to learn
more, 17 per cent used a mobile
device, and of those, 22 per cent used
a mortgage related app. And all of
these fi gures are growing.
5. BEFRIEND A BROKER OR BANKER
Like many things in life, it’s all about
relationships. And whether you
use broker or a banker to secure
a mortgage, you’ll likely come to
value the relationship. In the same
CMHC survey, consumer loyalty
strengthened the longer people
stayed with their lender. But since
we’re talking about money, people
are willing to switch lenders to
get a better rate and save – a fact
which is much more prevalent for
bankers than brokers. And because
brokers are able to o� er products
from multiple lenders, as opposed to
bankers who o� er only the products
of their own institution, the market
share held by brokers is growing
notably, particularly among repeat
buyers.
6.RESEARCH, RESEARCH, RESEARCH
These days, with prices rising as they
are and uncertainty in some markets,
thorough research is an absolute must.
Everything from your target area,
desired housing type, builder or realtor,
fi nances, how much you can a� ord,
who you borrow from and the structure
of your mortgage – take your time.
Take months. Don’t rush anything.
Anything.
MORE TRENDING ONLINEypnexthome.ca/news
By Wayne Karl
YFH 02-06-16_master.indd 29 2016-02-02 1:03 PM
LOOKING FOR A NEW HOME?
Brand new name, same great app. Everything you need to know to buy or rent your next home.
we can help!
DOWNLOAD THE APP
30 YPNEXTHOME.CA
030-YP-WeCanHelp 02-06-16.indd 30 2016-02-02 1:22 PM
*The 5% deposit program, parking and locker combination, as well as cash incentives ($20,000 cash back on studio and one bedroom suites, $25,000 on one bedroom + den or larger suites) are available on selected suites for a limited time only. Other conditions may apply. See Sales Representative for full details. Exclusive Listing: City Life Realty Ltd. Brokerage. Brokers Protected. Prices and specifications are subject to change without notice. Illustrations are artist’s concepts. E. & O.E.
PICTURE YOURSELF LIVING IN HIGHPARK this year
PRESENTATION CENTRE:1830 Bloor St. West
Mon and Tues: 12-6pm Wed: 12-8pmSat, Sun and Holidays: 12-5pmthurs and Fri: closed
416. 351. 1844 DANIELSHIGHPARK.COM
Model suite TOURS BY APPOINTMENT OR Drop by our open house
Wednesdays, 4-8pmsaturdays, 1-4pm
Buy with 5% down*
parking + locker $9,800*
up to $25,000 cash back*
Suites from $299,900BLOOR ST. W.
PAR
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DUNDAS ST W
DUNDAS ST W
DUNDAS ST W
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KING ST W
HIGH PARK
HIGH PARK ZOO
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SCHOOL
ST. JOSEPH’SHEALTH CENTREW
EST POND THE QUEENSWAY
HIGH PARKSWIMMING POOL
THE GRENADIER
SWANSEATENNIS CLUB
ST. VINCENTDE PAULSEPARATESCHOOL
BISHOP
MORROCCO
/ THOMAS
MERTON
CATHOLIC
SECONDARY
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FERN AVENUEPUBLIC SCHOOL
SWANSEA PUBLIC SCHOOL
HUMBERCINEMAS
ANNETTE ST
BABY POINT RD
ANNETTE ST
BLOOR ST W
JAN
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KEELE ST.
RUN
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BLOOR ST W
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SOUTHHUMBER
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RONCESVALLES
VILLAGE
SWANSEA
LITTLE
MALTA
Mountview
Ave.
Oakm
ount Rd
.
Pacific Ave.
Hig
h Park Ave.
Quebec A
ve.Clendenan A
ve.
Glendonw
ynne Rd.
PRESENTATIONCENTRE
Overlooking Toronto’s largest urban park, nestled on the edge of the trendy Bloor West Village, and up the street from two TTC stations, we think
you’ll find HighPark Condominiums’ smorgasbord of conveniences truly sweet! And, for a limited time only, we’re offering some pretty “suite” deals!
DANHPK16014 CondoGuide First-Time Buyer Ad Holiday.indd 1 2016-01-05 12:24 PM031-Daniels-HighPark 02-06-16.indd 31 2016-02-02 11:47 AM
LOCATION. LOCATION. LOCATION.LOCATION. LOCATION. LOCATION.LOCATION. LOCATION. LOCATION.We’re happy to say you can fi nd a Mattamy Homes community almost anywhere in
and around the GTA. Which means you never have to settle for less than Mattamy’s
thoughtful architecture and thoroughly master-planned communities – designed
for how modern families really live. Now, how you want to live meets where you
want to live.
FOR MORE INFORMATION VISIT
MATTAMYHOMES.COM
Mattamy Model Home Interior
MATGTA - All Sites - Brand Ad - Your First Home Due: 22/01/2016
File Name: MATGTA-Brand_YourFirstHome_Mag Publication: Your First Home
Trim: 7.5” x 10.5” Safety/V.O.: 0.5” DPI: 300
Bleed: 0.25 Colours: CMYK Built: 21/01/2016 – JND
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