Southwestern Ontario New Home and Condo Guide - 21 Jun., 2014

June 21 - July 5, 2014 Volume 17 Issue 12

INSIDE THIS ISSUE

WHY MORTGAGE RATESVARY BETWEEN LENDERS

MANAGING YOURNEW HOME WARRANTY

CULTURE, ENVIRONMENT & ECONOMY IN GUELPH

TRICAR

River Mill Condominiums PANTONE

CMYKBLACK AND WHITE

COLOUR BACKGROUND

INVERTED

OTHER OPTIONS

Rivermill_Final_VARIATIONS.ai

LOGO VARIATIONSN/AAugust 2013

x

xx

xx

x

FINAL LOGO: ACCEPTABLE FORMATS FOR USAGEOPTIONS AVAILABLE COLOUR SPECS

CMYK

REVERSE

BLACK AND WHITE

Bembo Semibold

GUELPHS NEXT ADDRESSOF DISTINCTION

THE TRICAR GROUP IS EXCITED TO UNVEIL

THEIR NEXT LUXURY CONDOMINIUM COMMUNITY

IN THE HEART OF DOWNTOWN GUELPH.

NOW SELLING

tricar.com

SWO 06-21-14.indd 1 6/19/14 1:29 PM

OPEN 7 DAYS A WEEK: Mon-Thurs: 1-7pmFri: 1-6pmSat, Sun & Holidays: 11am-5pmOpen Canada Day: 11am-5pm

Prices, sizes and specifications are subject to change without notice. *EASY BUYTM INVENTORY PROGRAM applies to inventory homes only. **Above bi-weekly payment based on 95% down, 5 year fixed 2.99% mortgage with 30 year amortization for homes closing within 120 days. Amounts do not include CMHC fees or any other bank set up mortgage fees.

For qualified buyers. Calculations obtained from RBC and TD Canada Trust Websites. Please see Sales for full details. Map not to scale. Exclusive listing brokerage: TFN Realty Inc. Broker Protected. E.&O.E. June 16, 2014.

empirecommunities.comEMPirE iS ENErGY StAr PLUS!

2013

Empire Communities is pleased to be recognized as

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Empires Easy BuyTM* Inventory Program gets you better prices, faster move-ins

and the bonus of only 5% down!

EMPirE COMMUNitiES EASY BUY* INVENTORY PROGRAM

YES YOU CAN!

EMPI 6782 NHG SW-DPS-15x10.5-F.indd 1 2014-06-17 4:21 PM





GREEN

BUILDER

OF T HE Y EAEAEROF EAEAE RARA

E2013



Mississauga

Toronto

Lake Ontario

LakeOntario

Cambridge

Colborne

Veterans

Mem

orial Pkw

Gretzky

401 8

403

QEW407

56

Lincoln PWY

Binbrook Rd

NN

Clarence

Paris

QEW

Colborne

Cent

enni

al PW

Y

Cent

enni

al PW

Y

Green Mtn. RdMud St

Rymal Rd

Red

Hill

Valle

y PW

Y

SummerleaImagine

Blac

kbur

n

ConklinShe


Wyndeld



Victory

Lundys Ln

McLeod Rd

Falls

General BrockPkwy

Brown Rd

Kalar R

d

Montrose R

d

Exit27

NiagaraSquare

NiagaraFalls

Mississauga

Toronto

Lake Ontario

LakeOntario

Cambridge

Colborne

Veterans

Mem

orial Pkw

Gretzky

401 8

403

QEW407

56

Lincoln PWY

Binbrook Rd

NN

Clarence

Paris

QEW

Colborne

Cent

enni

al PW

Y

Cent

enni

al PW

Y

Green Mtn. RdMud St

Rymal Rd

Red

Hill

Valle

y PW

Y

SummerleaImagine

Blac

kbur

n

ConklinShe


Wyndeld



Victory

Lundys Ln

McLeod Rd

Falls

General BrockPkwy

Brown Rd

Kalar R

d

Montrose R

d

Exit27

NiagaraSquare

NiagaraFalls


BrANtfOrD

HOMES

233990

5% DOWN 11,699

&

ONLY

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NiAGArA fALLS

HOMES

229990

5% DOWN 11,499

&

ONLY

Bi-WEEKLY PAYMENtS


BiNBrOOK 905.692.6000

HAMiLtON

HOMES

316990

5% DOWN 15,849

&

ONLY

Bi-WEEKLY PAYMENtS



StONEY CrEEK

HOMES

305990

5% DOWN 15,299

&

ONLY

Bi-WEEKLY PAYMENtS

565**




YES YOU CAN!

EMPI 6782 NHG SW-DPS-15x10.5-F.indd 1 2014-06-17 4:21 PMSWO 06-21-14.indd 2 6/19/14 1:29 PM





2013



Mississauga

Toronto

Lake Ontario

LakeOntario

Cambridge

Colborne

Veterans

Mem

orial Pkw

Gretzky

401 8

403

QEW407

56

Lincoln PWY

Binbrook Rd

NN

Clarence

Paris

QEW

Colborne

Cent

enni

al PW

Y

Cent

enni

al PW

Y

Green Mtn. RdMud St

Rymal Rd

Red

Hill

Valle

y PW

Y

SummerleaImagine

Blac

kbur

n

ConklinShe


Wyndeld



Victory

Lundys Ln

McLeod Rd

Falls

General BrockPkwy

Brown Rd

Kalar R

d

Montrose R

d

Exit27

NiagaraSquare

NiagaraFalls

Mississauga

Toronto

Lake Ontario

LakeOntario

Cambridge

Colborne

Veterans

Mem

orial Pkw

Gretzky

401 8

403

QEW407

56

Lincoln PWY

Binbrook Rd

NN

Clarence

Paris

QEW

Colborne

Cent

enni

al PW

Y

Cent

enni

al PW

Y

Green Mtn. RdMud St

Rymal Rd

Red

Hill

Valle

y PW

Y

SummerleaImagine

Blac

kbur

n

ConklinShe


Wyndeld



Victory

Lundys Ln

McLeod Rd

Falls

General BrockPkwy

Brown Rd

Kalar R

d

Montrose R

d

Exit27

NiagaraSquare

NiagaraFalls


BrANtfOrD

HOMES

233990

5% DOWN 11,699

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ONLY

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NiAGArA fALLS

HOMES

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5% DOWN 11,499

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BiNBrOOK 905.692.6000

HAMiLtON

HOMES

316990

5% DOWN 15,849

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StONEY CrEEK

HOMES

305990

5% DOWN 15,299

&

ONLY

Bi-WEEKLY PAYMENtS

565**




YES YOU CAN!

EMPI 6782 NHG SW-DPS-15x10.5-F.indd 1 2014-06-17 4:21 PM





GREEN

BUILDER

OF T HE Y EAEAEROF EAEAE RARA

E2013



Mississauga

Toronto

Lake Ontario

LakeOntario

Cambridge

Colborne

Veterans

Mem

orial Pkw

Gretzky

401 8

403

QEW407

56

Lincoln PWY

Binbrook Rd

NN

Clarence

Paris

QEW

Colborne

Cent

enni

al PW

Y

Cent

enni

al PW

Y

Green Mtn. RdMud St

Rymal Rd

Red

Hill

Valle

y PW

Y

SummerleaImagine

Blac

kbur

n

ConklinShe


Wyndeld



Victory

Lundys Ln

McLeod Rd

Falls

General BrockPkwy

Brown Rd

Kalar R

d

Montrose R

d

Exit27

NiagaraSquare

NiagaraFalls

Mississauga

Toronto

Lake Ontario

LakeOntario

Cambridge

Colborne

Veterans

Mem

orial Pkw

Gretzky

401 8

403

QEW407

56

Lincoln PWY

Binbrook Rd

NN

Clarence

Paris

QEW

Colborne

Cent

enni

al PW

Y

Cent

enni

al PW

Y

Green Mtn. RdMud St

Rymal Rd

Red

Hill

Valle

y PW

Y

SummerleaImagine

Blac

kbur

n

ConklinShe


Wyndeld



Victory

Lundys Ln

McLeod Rd

Falls

General BrockPkwy

Brown Rd

Kalar R

d

Montrose R

d

Exit27

NiagaraSquare

NiagaraFalls


BrANtfOrD

HOMES

233990

5% DOWN 11,699

&

ONLY

Bi-WEEKLY PAYMENtS



NiAGArA fALLS

HOMES

229990

5% DOWN 11,499

&

ONLY

Bi-WEEKLY PAYMENtS


BiNBrOOK 905.692.6000

HAMiLtON

HOMES

316990

5% DOWN 15,849

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ONLY

Bi-WEEKLY PAYMENtS



StONEY CrEEK

HOMES

305990

5% DOWN 15,299

&

ONLY

Bi-WEEKLY PAYMENtS

565**




YES YOU CAN!

EMPI 6782 NHG SW-DPS-15x10.5-F.indd 1 2014-06-17 4:21 PMSWO 06-21-14.indd 3 6/19/14 1:29 PM

BW-NHC_SWO-0414.pdf 1 14-04-24 12:39 PMBW-NHC_SWO-0414.pdf 1 14-04-24 12:39 PM

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SWO 06-21-14.indd 5 6/19/14 1:29 PM

CountryGreenHomes.com | 905-690-7600

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QEW

WATERDOWN

CE

NTR

E R

D.

HA

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TON

ST.

PARKSIDE DR.

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403

New release of freehold three storey urban towns that will suit your lifestyle.Come see for yourself how big city convenience can nestle perfectly with small town charm, only in Waterdown.

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The Primrose Model Home In Wildflowers.

Townhomes From $251,990Detached Homes From $299,990

KITCHENER

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KITCHENER

WILDFLOWERSSalesCentre

HW

Y 40

1

Fischer

Hallm

an Rd. S.

HomerWatson Blvd.

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Presentation Centre Hours: Monday - Thursday 1pm-8pm; Friday 1pm-6pm; Saturday, Sunday and Holidays 11am-6pmModel Home Hours: Monday - Thursday 1pm-7:30pm; Friday 1pm-5:30pm; Saturday, Sunday and Holidays 11am-5:30pm

Wildflowers is in full bloom with a great selection of affordable Townhomes and spacious Detached Homes. We also have 4 Detached Model Homes that are

exceptional examples of our attention to detail and craftsmanship. Professionally designed models to tour Surrounded by great shops and restaurants

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All illustrations are artists concept. All dimensions are approximate. Prices, specifications, terms and conditions subject to change without notice. E.&O.E.

Townhome, The Columbine, Elev. B, 1,402 Sq.Ft., $271,990

36' Home, The Sandcherry, Elev. A, 2,283 Sq.Ft., $383,990

Elev. B

New Townhomes And Detached Homes Are In Full Bloom In Wildflowers.

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swNH&C_WF_June21.indd 1 2014-06-18 10:29 AMSWO 06-21-14.indd 6 6/19/14 1:29 PM

CountryGreenHomes.com | 905-690-7600

6407

QEW

WATERDOWN

CE

NTR

E R

D.

HA

MIL

TON

ST.

PARKSIDE DR.

DUNDAS ST.

403

New release of freehold three storey urban towns that will suit your lifestyle.Come see for yourself how big city convenience can nestle perfectly with small town charm, only in Waterdown.

Monday to Wednesday 2-7pmThursday/Friday by Appointment

Saturday & Sunday 11-4pm

$200sfrom the mid

A new season, a new home.

50% SOLD!

The Primrose Model Home In Wildflowers.

Townhomes From $251,990Detached Homes From $299,990

KITCHENER

Sales Centre: 179 Seabrook Drive

KITCHENER

WILDFLOWERSSalesCentre

HW

Y 40

1

Fischer

Hallm

an Rd. S.

HomerWatson Blvd.

Huron

Rd.

Seabrook

Dr.

HWY 7 & 8

Presentation Centre Hours: Monday - Thursday 1pm-8pm; Friday 1pm-6pm; Saturday, Sunday and Holidays 11am-6pmModel Home Hours: Monday - Thursday 1pm-7:30pm; Friday 1pm-5:30pm; Saturday, Sunday and Holidays 11am-5:30pm

Wildflowers is in full bloom with a great selection of affordable Townhomes and spacious Detached Homes. We also have 4 Detached Model Homes that are

exceptional examples of our attention to detail and craftsmanship. Professionally designed models to tour Surrounded by great shops and restaurants

Parks, playgrounds, walking/biking trails, scenic ponds, mature forest Well-appointed contemporary interior and exterior designs

Follow us:


Townhome, The Columbine, Elev. B, 1,402 Sq.Ft., $271,990

36' Home, The Sandcherry, Elev. A, 2,283 Sq.Ft., $383,990

Elev. B

New Townhomes And Detached Homes Are In Full Bloom In Wildflowers.

mattamyhomes.com

swNH&C_WF_June21.indd 1 2014-06-18 10:29 AM

JUN 21 - JUL 5, 2014 | NEW HOME & CONDO GUIDE SWO 7

SWO 06-21-14.indd 7 6/19/14 1:29 PM

regular and special features34

44

52

IN EVERY ISSUE

10 Editors Note75 Hot Dates76 Ad Index COLUMNISTS

42 Mortgage Advice Why mortgage rates vary from lender to lender by Alyssa Richard

48 Tarion Report MyHome the simplest way to manage your new home warranty by Howard Bogach

60 The Tax Man TFSAs take care with recontributions by George Dube

62 Make Your Move Sort, downsize and organize now for a stress-free summer move by Chuck Resnick

78 Fundamentally Speaking Learning as much as you can about mortgages is time well spent by Wayne Karl

contentsJUNE 21 - JULY 5, 2014 || VOLUME 17 ISSUE 12

ON THE COVER

p. 14TRICAR GROUP

Historical landmark becomes a landmark residence

18 London27 Hamilton55 Waterloo

New Home WATCH

community focus features

HOMEBUYERS HELP 24 Insurance Needs & Options

Do you need mortgage loan insurance?26 Insurance Needs & Options

Four things Canadians would rather do than think about insurance

65 City Focus Guelph: Heritage, culture and economic and environmental development

69 Homebuyers Resources Mortgage Calculator & Rate Table

34 Ancaster Dawn Victoria Homes Awaken in your Evergreens dream home, steps from the history of olde Ancaster

44 Hamilton Valery Homes & The Spallacci Group Hamilton celebrates a new era with The Residences of Royal Connaught

52 Niagara Great Gulf Active House brings sustainable comfort to Niagaras Rolling Meadows ONLY 5% DOWN!

$300sTeeing off from the low

Bungalows, Bungalofts, 2-Storey Towns, & Singles on 32 - 50 Lots

Prices and specifications are subject to change without notice. E.&.O.E. Rendering is artists concept.

Mountainview Realtors

289.241.4896

NIAGARA FALLS

THUNDERINGWATERSGOLF COURSE

SALESCENTRE

S. AARINS

9.682.844

AN

19.214.91

MODELHOMES

RIGA

9.61.29

905.323.6232

www.mountainview.com

Hours: Monday, Tuesday 12-5 p.m.Wednesday 12-7 p.m. Thursday 12-5 p.m.

Saturday & Sunday 12-5 p.m.Friday by appointment.

7320 Lionshead Ave, Niagara Falls

LOW MAINTENANCE LIVING

Bungalows, Bungalofts, 2-Storey

Welcome to your care-free ZONE.

ALMOST 50% SOLD!

TOWNS

Only 60 minutes to Toronto15 minutes to the USA

NHC THUNDERchinese.indd 1 2014-06-16 10:02 AMSWO 06-21-14.indd 8 6/19/14 1:29 PM

regular and special features34

44

52

IN EVERY ISSUE

10 Editors Note75 Hot Dates76 Ad Index COLUMNISTS

42 Mortgage Advice Why mortgage rates vary from lender to lender by Alyssa Richard

48 Tarion Report MyHome the simplest way to manage your new home warranty by Howard Bogach

60 The Tax Man TFSAs take care with recontributions by George Dube

62 Make Your Move Sort, downsize and organize now for a stress-free summer move by Chuck Resnick

78 Fundamentally Speaking Learning as much as you can about mortgages is time well spent by Wayne Karl

contentsJUNE 21 - JULY 5, 2014 || VOLUME 17 ISSUE 12

ON THE COVER

p. 14TRICAR GROUP

Historical landmark becomes a landmark residence

18 London27 Hamilton55 Waterloo

New Home WATCH

community focus features

HOMEBUYERS HELP 24 Insurance Needs & Options

Do you need mortgage loan insurance?26 Insurance Needs & Options

Four things Canadians would rather do than think about insurance

65 City Focus Guelph: Heritage, culture and economic and environmental development

69 Homebuyers Resources Mortgage Calculator & Rate Table

34 Ancaster Dawn Victoria Homes Awaken in your Evergreens dream home, steps from the history of olde Ancaster

44 Hamilton Valery Homes & The Spallacci Group Hamilton celebrates a new era with The Residences of Royal Connaught

52 Niagara Great Gulf Active House brings sustainable comfort to Niagaras Rolling Meadows ONLY 5% DOWN!

$300sTeeing off from the low

Bungalows, Bungalofts, 2-Storey Towns, & Singles on 32 - 50 Lots

Prices and specifications are subject to change without notice. E.&.O.E. Rendering is artists concept.

Mountainview Realtors

289.241.4896

NIAGARA FALLS

THUNDERINGWATERSGOLF COURSE

SALESCENTRE

S. AARINS

9.682.844

AN

19.214.91

MODELHOMES

RIGA

9.61.29

905.323.6232

www.mountainview.com

Hours: Monday, Tuesday 12-5 p.m.Wednesday 12-7 p.m. Thursday 12-5 p.m.

Saturday & Sunday 12-5 p.m.Friday by appointment.

7320 Lionshead Ave, Niagara Falls

LOW MAINTENANCE LIVING

Bungalows, Bungalofts, 2-Storey

Welcome to your care-free ZONE.

ALMOST 50% SOLD!

TOWNS

Only 60 minutes to Toronto15 minutes to the USA

NHC THUNDERchinese.indd 1 2014-06-16 10:02 AMSWO 06-21-14.indd 9 6/19/14 1:29 PM

PRESIDENT, WALL2WALL MEDIA

Jacqueline HillDIRECTOR OF SALES, NATIONAL

Josh Heppner ASSOCIATE PUBLISHER

Susan Maxwell EDITOR-IN-CHIEF / DIRECTOR OF CONTENT

Susan LeggeART DIRECTOR

Daiana Garay

EDITOR

Wayne KarlCONTRIBUTING EDITORS

Sara DuckElisa KrovblitLydia McNutt

DISTRIBUTION & SALES CO-ORDINATOR

Jennifer BistronADMINISTRATIVE ASSISTANT

Antoinette Jackson

MANAGER OF PRODUCTION

Bala GnanapandithanCO-ORDINATOR

Hannah YarkonyGRAPHIC DESIGNER

Viosa Barileva

CONTRIBUTING WRITERS

Joanne KeenanJeffrey ReedMichele Sponagle

#500-401 The West MallEtobicoke, ON M9C 5J5

T 416.626.4200 F 416.784.5867

ADVERTISING: Call Susan Maxwell at 416.580.1654 FAX: 416.784.9554 Toll Free: 1.877.269.8257, follow prompts, ext. 4260;e-mail: [email protected] Office hours are Mon-Thurs. 9-5; Fri. 9-12CIRCULATION: Free distribution. Published bi-weekly from Sept.-Nov. & from Feb.-June and monthly in June, July & Dec.TERMS: Advertisers, Editorials and New Home & Condo Guide are not responsible for typographical errors, mistakes or misprints. All prices are correct as of press time and are subject to change without notice. E. & O. E.EDITORIAL: Submissions from interested parties will be considered. Please submit to the address above, to the attention of the Editor.COPYRIGHT 2014: All rights reserved by New Home & Condo Guide, Toronto, Ontario. Reproduction in any form is prohibited. Contents of this publication are covered by Copyright and offenders will be prosecuted under the law. The views and data expressed by columnists do not necessarily represent those of the publication. Wall2Wall Media is a trademark of Yellow Pages Group Co. in Canada.

Please recycle this magazine! Wall2Wall Media 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.

newhomeandcondoguide.com

Published By

WAYNE KARL EDITOR Wall2Wall [email protected]

Follow me on Twitter at Twitter.com/WayneKarlLike us on Facebook. Search: New Home Guide

//EDITORS NOTE

Buying a brand-new home offers you an opportunity to customize it to your liking. It can be a dream come true and an investment for the future but dont forget, its also legal transaction.

The term get it in writing has never been more important than in the case of a new-home purchase. The Agreement of Purchase and Sale spells out the terms and conditions between you and your builder. Without it, if there is a misunderstanding, its impossible to prove what was agreed upon.

For new homes, there is no standard Agreement of Purchase and Sale or contract. In some provinces, builders

may have standard contracts prepared by the local home builders association or their new-home warranty program. Builders often prepare their own agreements, so contracts can vary from one developer to another and from province to province.

Before you sign a contract, review it carefully with the builder and ask questions to make sure you fully understand what it contains. Your next step is to then take it to a real estate lawyer and have it reviewed. Once it is signed, it becomes a legal document and an agreed-upon contract, so seeking the services of an experienced real estate lawyer is an important step toward ensuring that your dream home becomes a reality.

Get it in writingand have your lawyer review your agreement

We and other industry sources in New Home & Condo Guide have been writing more and more recently about Development Charges, trying to bring attention to this increasingly important topic and what you might be able to do about it. DCs are the fees applied by various levels of government when homes are built, to pay for new roads, transit and other infrastructure.

Now, were happy to report, home builders are getting creative, looking for ways to give buyers a break on rising new home costs. In one example, Edilcan Development Corp., a Toronto-based builder, found a way to freeze DCs

at 2013 levels at one its projects a master-planned community involving townhomes and three condominium towers.

We dont expect that all home builders will be able to fi nd similarly innovative solutions, but the initiative is a shining example of what can be done while home builder associations across the country lobby government on behalf of new-home buyers.

Given that these rising fees are almost always transferred to you, the new-home buyer along with your associated mortgage costs such creative eff orts should be applauded.

As youre out there scouting about for your new home, ask your builder how it is handling DCs, and if there are any opportunities to save.

How is your builder handing DCs?Home builders are fi nding creative ways to give buyers a break on rising Development Charges

SUSAN LEGGE EDITOR-IN-CHIEF Wall2Wall Media [email protected]

Follow me on Twitter at Twitter.com/SusanLegge Like us on Facebook. Search: New Home Guide

NHC Ad

* 100% financing option available on approved credit. Please see sales agent for details. Prices subject to change without notice. Illustrations are artists concept. E. & O.E.

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New 46,000 sq. ft communitycentre, hockey arena and publiclibrary opens in June 2014!

Better value than Burlington,Hamilton, Binbrook or Grimbsy.Make a smart investment.

Look-Out and Walk-Out lotsavailable! Visit us today!

U9098_LS_NHC_May5.qxp_U9098_LS_NHC_May5 5/20/14 4:49 PM Page 1

SWO 06-21-14.indd 10 6/19/14 1:29 PM

PRESIDENT, WALL2WALL MEDIA

Jacqueline HillDIRECTOR OF SALES, NATIONAL

Josh Heppner ASSOCIATE PUBLISHER

Susan Maxwell EDITOR-IN-CHIEF / DIRECTOR OF CONTENT

Susan LeggeART DIRECTOR

Daiana Garay

EDITOR

Wayne KarlCONTRIBUTING EDITORS

Sara DuckElisa KrovblitLydia McNutt

DISTRIBUTION & SALES CO-ORDINATOR

Jennifer BistronADMINISTRATIVE ASSISTANT

Antoinette Jackson

MANAGER OF PRODUCTION

Bala GnanapandithanCO-ORDINATOR

Hannah YarkonyGRAPHIC DESIGNER

Viosa Barileva

CONTRIBUTING WRITERS

Joanne KeenanJeffrey ReedMichele Sponagle

#500-401 The West MallEtobicoke, ON M9C 5J5

T 416.626.4200 F 416.784.5867

ADVERTISING: Call Susan Maxwell at 416.580.1654 FAX: 416.784.9554 Toll Free: 1.877.269.8257, follow prompts, ext. 4260;e-mail: [email protected] Office hours are Mon-Thurs. 9-5; Fri. 9-12CIRCULATION: Free distribution. Published bi-weekly from Sept.-Nov. & from Feb.-June and monthly in June, July & Dec.TERMS: Advertisers, Editorials and New Home & Condo Guide are not responsible for typographical errors, mistakes or misprints. All prices are correct as of press time and are subject to change without notice. E. & O. E.EDITORIAL: Submissions from interested parties will be considered. Please submit to the address above, to the attention of the Editor.COPYRIGHT 2014: All rights reserved by New Home & Condo Guide, Toronto, Ontario. Reproduction in any form is prohibited. Contents of this publication are covered by Copyright and offenders will be prosecuted under the law. The views and data expressed by columnists do not necessarily represent those of the publication. Wall2Wall Media is a trademark of Yellow Pages Group Co. in Canada.

Please recycle this magazine! Wall2Wall Media 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.

newhomeandcondoguide.com

Published By

WAYNE KARL EDITOR Wall2Wall [email protected]

Follow me on Twitter at Twitter.com/WayneKarlLike us on Facebook. Search: New Home Guide

//EDITORS NOTE

Buying a brand-new home offers you an opportunity to customize it to your liking. It can be a dream come true and an investment for the future but dont forget, its also legal transaction.

The term get it in writing has never been more important than in the case of a new-home purchase. The Agreement of Purchase and Sale spells out the terms and conditions between you and your builder. Without it, if there is a misunderstanding, its impossible to prove what was agreed upon.

For new homes, there is no standard Agreement of Purchase and Sale or contract. In some provinces, builders

may have standard contracts prepared by the local home builders association or their new-home warranty program. Builders often prepare their own agreements, so contracts can vary from one developer to another and from province to province.

Before you sign a contract, review it carefully with the builder and ask questions to make sure you fully understand what it contains. Your next step is to then take it to a real estate lawyer and have it reviewed. Once it is signed, it becomes a legal document and an agreed-upon contract, so seeking the services of an experienced real estate lawyer is an important step toward ensuring that your dream home becomes a reality.

Get it in writingand have your lawyer review your agreement

We and other industry sources in New Home & Condo Guide have been writing more and more recently about Development Charges, trying to bring attention to this increasingly important topic and what you might be able to do about it. DCs are the fees applied by various levels of government when homes are built, to pay for new roads, transit and other infrastructure.

Now, were happy to report, home builders are getting creative, looking for ways to give buyers a break on rising new home costs. In one example, Edilcan Development Corp., a Toronto-based builder, found a way to freeze DCs

at 2013 levels at one its projects a master-planned community involving townhomes and three condominium towers.

We dont expect that all home builders will be able to fi nd similarly innovative solutions, but the initiative is a shining example of what can be done while home builder associations across the country lobby government on behalf of new-home buyers.

Given that these rising fees are almost always transferred to you, the new-home buyer along with your associated mortgage costs such creative eff orts should be applauded.

As youre out there scouting about for your new home, ask your builder how it is handling DCs, and if there are any opportunities to save.

How is your builder handing DCs?Home builders are fi nding creative ways to give buyers a break on rising Development Charges

SUSAN LEGGE EDITOR-IN-CHIEF Wall2Wall Media [email protected]

Follow me on Twitter at Twitter.com/SusanLegge Like us on Facebook. Search: New Home Guide

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U9098_LS_NHC_May5.qxp_U9098_LS_NHC_May5 5/20/14 4:49 PM Page 1

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13

SWO 06-21-14.indd 13 6/19/14 1:29 PM

THE TRICAR GROUP | River Mill Condominiums

LOCATION Guelph

HOUSING TYPE Highrise condominium

SALES CENTRE Main Level of Old Quebec Street Mall, 55 Wyndham St. N., open Monday to Wednesday noon to 6 p.m., weekends noon to 5 p.m. or by appointment

CONTACT519.763.2898tricar.com

EXPERIENCE THE HEIGHT OF LIVING IN YOUR RIVER MILL CONDOMINIUM.Inside River Mill Condominiums, residents will discover a modern collection of premium brands paired with progressive space plans and mindfully crafted details that ensure a level of luxury synonymous with all Tricar developments. The suites are a culmination of an extensive selection of unique floor plans with exceptional living spaces and the finest amenities.

Bringing indoor living outdoors, River Mill Condominiums offers sophisticated social settings in impressive outdoor environments. Residents can enjoy the incredible 12,980-sq.-ft. promenade and gardens located on the third level at the peak of the Podium Series suites.

On the third floor, residents will discover Pure Body + Mind. This exceptional 4,073-sq.-ft. space is dedicated to bettering the body and mind through fitness and

relaxation. On the seventh level, residents will enjoy the Sky Lounge, an intimate yet expansive social space that extends beyond the indoors to an impressive 6,082-sq.-ft. outdoor terrace. Here, residents can enjoy a variety of leisure activities throughout the seasons.

Enjoy efficient floorplans with refined interior touches that offer superb value. Soaring ceilings with expansive glass windows provide inspiring outdoor views. Entertain with flair in a kitchen friends will envy, while large windows and terraces ensure abundant naturallight. With every suite comes Tricars award-winning attention to detail, premium appliances and designer finishes, and the peace-of-mind that you will receive professional and dedicated attention from our Customer Care Team.

The suites of River Mill Condominiums are the manifestation of a developers pride in community investment. Designed to maximize comfort and livability, these one-bedroom plus den, two-bedroom and two-bedroom plus den suites offer a personal yet practical approach to condo living, with meticulous attention paid to quality craftsmanship.

AwardedTarionsOntario Highrise Builder of the Yearin 2014, Tricartakes great pride in the honourand looks forward to delivering the same quality and attention withRiver Mill Condominiums; Guelphs next address of distinction.

For more information, call 519.763.2898 or visit tricar.com

Enjoy the calming and serene views of the winding Speed River, city skyline and parkland; a picture-perfect panoramic view to enjoy throughout the seasons.

//COVER STORY

T he Tricar Group has been developing and managing award-winning, multi-family, highrise buildings for almost 30 years. As the first developer to build a highrise condo in Downtown Guelph, Tricar has become an industry leader, setting the standard for luxury condominium living.

River Mill Condominiums is Tricarsnewest condominium residence set to grace the banks of the Speed River in beautiful, culture-rich downtown Guelph.

This landmark residence will breathe new life into the area surrounding former Allans Mill Ruins. The cultural relevance of the River Mill location mirrors that of The Tricar Groups own corporate philosophy. Tricar has a commitment to revitalizing and rejuvenating downtown cores while complementing the existing social and cultural fabric of the city. River Mill Condominiums is destined to write its own history as a permanent landmark residence in the Royal City.

RIVERSIDE LOCATION. DOWNTOWN SETTING. INCOMPAR ABLE AMBIANCE.River Mill Condominiums by The Tricar Group offers residents an ideal combination of luxury, convenience and choice for todays discerning buyer. Located in the heart of downtown Guelph, this beautiful 18-storey condominium, boasts exquisitely appointed suites, including a select number of stunning penthouses with expansive terraces and stylish living spaces.

Enjoy the calming and serene views of the winding Speed River, city skyline and parkland; a picture-perfect panoramic view to enjoy throughout the seasons. Downtown Guelph awaits at your doorstep and offers an abundance of urban lifestyle pursuits, from taking in a game at the Sleeman Centre or an impressive performance at the River Run Centre to elegant dining experiences and boutique shopping galore. The Royal City of Guelph and River Mill Condos invite you to stay.

A HISTORICAL LANDMARK becomes a landmark residence

14 NEW HOME & CONDO GUIDE SWO | JUN 21 - JUL 5, 2014

SWO 06-21-14.indd 14 6/19/14 1:30 PM

THE TRICAR GROUP | River Mill Condominiums

LOCATION Guelph

HOUSING TYPE Highrise condominium

SALES CENTRE Main Level of Old Quebec Street Mall, 55 Wyndham St. N., open Monday to Wednesday noon to 6 p.m., weekends noon to 5 p.m. or by appointment

CONTACT519.763.2898tricar.com

EXPERIENCE THE HEIGHT OF LIVING IN YOUR RIVER MILL CONDOMINIUM.Inside River Mill Condominiums, residents will discover a modern collection of premium brands paired with progressive space plans and mindfully crafted details that ensure a level of luxury synonymous with all Tricar developments. The suites are a culmination of an extensive selection of unique floor plans with exceptional living spaces and the finest amenities.

Bringing indoor living outdoors, River Mill Condominiums offers sophisticated social settings in impressive outdoor environments. Residents can enjoy the incredible 12,980-sq.-ft. promenade and gardens located on the third level at the peak of the Podium Series suites.

On the third floor, residents will discover Pure Body + Mind. This exceptional 4,073-sq.-ft. space is dedicated to bettering the body and mind through fitness and

relaxation. On the seventh level, residents will enjoy the Sky Lounge, an intimate yet expansive social space that extends beyond the indoors to an impressive 6,082-sq.-ft. outdoor terrace. Here, residents can enjoy a variety of leisure activities throughout the seasons.

Enjoy efficient floorplans with refined interior touches that offer superb value. Soaring ceilings with expansive glass windows provide inspiring outdoor views. Entertain with flair in a kitchen friends will envy, while large windows and terraces ensure abundant naturallight. With every suite comes Tricars award-winning attention to detail, premium appliances and designer finishes, and the peace-of-mind that you will receive professional and dedicated attention from our Customer Care Team.

The suites of River Mill Condominiums are the manifestation of a developers pride in community investment. Designed to maximize comfort and livability, these one-bedroom plus den, two-bedroom and two-bedroom plus den suites offer a personal yet practical approach to condo living, with meticulous attention paid to quality craftsmanship.

AwardedTarionsOntario Highrise Builder of the Yearin 2014, Tricartakes great pride in the honourand looks forward to delivering the same quality and attention withRiver Mill Condominiums; Guelphs next address of distinction.

For more information, call 519.763.2898 or visit tricar.com

Enjoy the calming and serene views of the winding Speed River, city skyline and parkland; a picture-perfect panoramic view to enjoy throughout the seasons.

//COVER STORY

T he Tricar Group has been developing and managing award-winning, multi-family, highrise buildings for almost 30 years. As the first developer to build a highrise condo in Downtown Guelph, Tricar has become an industry leader, setting the standard for luxury condominium living.

River Mill Condominiums is Tricarsnewest condominium residence set to grace the banks of the Speed River in beautiful, culture-rich downtown Guelph.

This landmark residence will breathe new life into the area surrounding former Allans Mill Ruins. The cultural relevance of the River Mill location mirrors that of The Tricar Groups own corporate philosophy. Tricar has a commitment to revitalizing and rejuvenating downtown cores while complementing the existing social and cultural fabric of the city. River Mill Condominiums is destined to write its own history as a permanent landmark residence in the Royal City.

RIVERSIDE LOCATION. DOWNTOWN SETTING. INCOMPAR ABLE AMBIANCE.River Mill Condominiums by The Tricar Group offers residents an ideal combination of luxury, convenience and choice for todays discerning buyer. Located in the heart of downtown Guelph, this beautiful 18-storey condominium, boasts exquisitely appointed suites, including a select number of stunning penthouses with expansive terraces and stylish living spaces.

Enjoy the calming and serene views of the winding Speed River, city skyline and parkland; a picture-perfect panoramic view to enjoy throughout the seasons. Downtown Guelph awaits at your doorstep and offers an abundance of urban lifestyle pursuits, from taking in a game at the Sleeman Centre or an impressive performance at the River Run Centre to elegant dining experiences and boutique shopping galore. The Royal City of Guelph and River Mill Condos invite you to stay.

A HISTORICAL LANDMARK becomes a landmark residence


SWO 06-21-14.indd 15 6/19/14 1:30 PM

Wintergreen Model Home, Wildflowers, Kitchener

Follow us:


Sales Centre Hours: Monday - Thursday 1pm-8pm; Friday 1pm-6pm; Saturday, Sunday and Holidays 11am-6pm

mattamyhomes.com

BILD Homebuilder Of The Year.

36' Home, The Woodstock, Elev. G, 2,758 Sq.Ft., $618,990

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New Semis and 34' Detached designs More than 10,000 families already enjoy Hawthorne Village living Abundant natural beauty at the Escarpment

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Fall 2014 Closings Now Available On A Select Number Of Detached Homes.

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swNH&C_HV_June21.indd 1 2014-06-18 10:29 AM

1 M4400-1C R1.inddRoundJob Description: Mechanical Specifications: Contact:

Leo Burnett 175 Bloor Street E. North Tower, 13th Floor Toronto, ON M4W 3R9 (416) 925-5997

Client: TD BANKDocket #: 112-LTDCICM4400Project: HOME INSURANCE MAGAZINE Ad #: M4400-1C R1

Bleed: 8.5 x 11.25 Trim: 7.5 x 10 Live: 6.5 x 9File built at 100% 1 = 1

Acct. Mgr: SARI / KATHERINECrea. Dir: LISA GREENBERGArt Dir: ADAM THURWriter: None

Producer: BARRY DUROCHERStudio: Kim CProofreader: PETER

Colours: 4C Start Date: 4-30-2014 4:45 PMRevision Date: 4-30-2014 4:48 PMPrint Scale: 100%

Comments: DINING ROOM V2 Publication: Vancouver New Home Guide, Vancouver New Condo, condo Guide GTA, New Homes southern Ont, Homes

Well get you all the benefi ts youre entitled to with TD Insurance home protection.

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TD Insurance home protection is underwritten by TD Home and Auto Insurance Company in Ontario and by Primmum Insurance Company in the rest of Canada. The TD logo and other trade-marks are the property of The Toronto-Dominion Bank.

Get a quote now. Visit tdinsurance.com/littlethings or call 1-877-741-1932

When it comes to your home, the little things matter.

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0005031_001_M4400_1C_R1.indd 1 4/30/14 6:23 PM

TD Insurance ON-M4400-1C_R1.indd 1 5/1/14 12:25:01 PM


SWO 06-21-14.indd 16 6/19/14 1:30 PM

Wintergreen Model Home, Wildflowers, Kitchener

Follow us:


Sales Centre Hours: Monday - Thursday 1pm-8pm; Friday 1pm-6pm; Saturday, Sunday and Holidays 11am-6pm

mattamyhomes.com

BILD Homebuilder Of The Year.

36' Home, The Woodstock, Elev. G, 2,758 Sq.Ft., $618,990

36 Home, The Pelham, Elev. E,2,356 Sq.Ft., $559,990

New Semis and 34' Detached designs More than 10,000 families already enjoy Hawthorne Village living Abundant natural beauty at the Escarpment

Shopping and schooling right in the community Enjoy all of the benefits of living in the wonderful town of Milton Home designs to suit families of all sizes

Fall 2014 Closings Now Available On A Select Number Of Detached Homes.

How Soon Can You Live Here? How Soon Can You Get Here?

SalesCentre

Jam

es S

now

Par

kway

Traf

alga

r

Win

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Chu

rchi

ll

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403To QEW

4th

Line

Trud

eau

Dr.

401

407

Semi-Detached From $439,990 Detached Homes From $465,990

MILTON

Sales Centre: 10180 Derry Road

swNH&C_HV_June21.indd 1 2014-06-18 10:29 AM

1 M4400-1C R1.inddRoundJob Description: Mechanical Specifications: Contact:

Leo Burnett 175 Bloor Street E. North Tower, 13th Floor Toronto, ON M4W 3R9 (416) 925-5997

Client: TD BANKDocket #: 112-LTDCICM4400Project: HOME INSURANCE MAGAZINE Ad #: M4400-1C R1

Bleed: 8.5 x 11.25 Trim: 7.5 x 10 Live: 6.5 x 9File built at 100% 1 = 1

Acct. Mgr: SARI / KATHERINECrea. Dir: LISA GREENBERGArt Dir: ADAM THURWriter: None

Producer: BARRY DUROCHERStudio: Kim CProofreader: PETER

Colours: 4C Start Date: 4-30-2014 4:45 PMRevision Date: 4-30-2014 4:48 PMPrint Scale: 100%

Comments: DINING ROOM V2 Publication: Vancouver New Home Guide, Vancouver New Condo, condo Guide GTA, New Homes southern Ont, Homes

Well get you all the benefi ts youre entitled to with TD Insurance home protection.

We are dedicated to getting you the most out of your

home insurance coverage. In fact, we recognize our

claims staff for working hard to get you the benefi ts

youre entitled to, because we know how much the

little things matter. So you can be sure that well

always stand with you.

TD Insurance home protection is underwritten by TD Home and Auto Insurance Company in Ontario and by Primmum Insurance Company in the rest of Canada. The TD logo and other trade-marks are the property of The Toronto-Dominion Bank.

Get a quote now. Visit tdinsurance.com/littlethings or call 1-877-741-1932

When it comes to your home, the little things matter.

The same goes for home insurance.

0005031_001_M4400_1C_R1.indd 1 4/30/14 6:23 PM

TD Insurance ON-M4400-1C_R1.indd 1 5/1/14 12:25:01 PM SWO 06-21-14.indd 17 6/19/14 1:30 PM

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LONDON

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new openingstricar group Stratford | 36Front steps from the avon river, this luxurious new lowrise building features suites ranging from 1,200 to 1,800 sq. ft. in two-bedroom or two-bedroom plus den designs, as well as select penthouses. 36front.com

sifton properties London | Westwood Village Grand opening of luxury one-floor energy star condos from the low $300s. sifton.com

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new releasescachet reid heritage homes London | Copperfield final single-family homes available in this community. single-detached designs close to schools, shopping, recreation and parks. cachetreid.com

senator homes Woodstock | Havelock Corners Detached homes from $209,990 in an established community. senatorhomes.com

Builders: if you would like to include your new model home or site opening, email [email protected]. please say you saw it in New home & Condo Guide!

New Home watch


SWO 06-21-14.indd 18 6/19/14 1:30 PM

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London SIFTON Westwood Village from low $300's 25

Tillsonburg TILLSONBURG DEVELOPMENTS Baldwin Place from $232,000 23

Tillsonburg TOWN OF TILLSONBURG 22

Woodstock CLAYSAM HOMES Neighbourhoods of Devonshire from $224,900 21

Woodstock SENATOR HOMES Havelock Corners from $209,990 20

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forest park homes London | Central Park Coming soon urban townhomes from $224,900. centralparklondon.ca

new openingstricar group Stratford | 36Front steps from the avon river, this luxurious new lowrise building features suites ranging from 1,200 to 1,800 sq. ft. in two-bedroom or two-bedroom plus den designs, as well as select penthouses. 36front.com

sifton properties London | Westwood Village Grand opening of luxury one-floor energy star condos from the low $300s. sifton.com

claysam homes Woodstock | Neighbourhoods of Devonshire Get affordable homeownership in this community of single-family homes minutes from hwy. 401. claysamhomes.com

new releasescachet reid heritage homes London | Copperfield final single-family homes available in this community. single-detached designs close to schools, shopping, recreation and parks. cachetreid.com

senator homes Woodstock | Havelock Corners Detached homes from $209,990 in an established community. senatorhomes.com

Builders: if you would like to include your new model home or site opening, email [email protected]. please say you saw it in New home & Condo Guide!

New Home watch


SWO 06-21-14.indd 19 6/19/14 1:30 PM

believe you can have it all

visit us online for model hours claysamhomes.com

DEVONSHIRE AVE

DUNDAS ST

PARKINSON RD TOWER

LINE RD

TOWNSHIP ROAD

2

LANSDOWNE AVE

OXFORD ROAD 4

401

401

403

38 MINUTES TO KW

*Limited time offer. $798.25 per month based at 3%, 5 year closed mortgage amortized over 25 years with 25% down payment on purchase price of $224,900. P&I only. Applicable to the price of the home and does not include upgrades. Please visit the sales center for details. Offer and conditions may be subject to change without notice. E. & O. E.

For information contact William at the Model Home 519.421.1077

P.&I.

Southwestern Ontarios best new home value

starting from $224,900

Own a new home from just

Maplewood Elev. B

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The Neighbourhoods of Devonshire brings you peaceful and attainable family living in the growing community of Woodstock. With

convenient highway access and all major amenities just minutes away.

Phase Two release of bungalow and 2-storey designs available on 30, 36 and 42 foot lots.

dreamachievein something new

A Bell Fibe Community

SWO 06-21-14.indd 20 6/19/14 1:30 PM

believe you can have it all

visit us online for model hours claysamhomes.com

DEVONSHIRE AVE

DUNDAS ST

PARKINSON RD TOWER

LINE RD

TOWNSHIP ROAD

2

LANSDOWNE AVE

OXFORD ROAD 4

401

401

403

38 MINUTES TO KW

*Limited time offer. $798.25 per month based at 3%, 5 year closed mortgage amortized over 25 years with 25% down payment on purchase price of $224,900. P&I only. Applicable to the price of the home and does not include upgrades. Please visit the sales center for details. Offer and conditions may be subject to change without notice. E. & O. E.

For information contact William at the Model Home 519.421.1077

P.&I.

Southwestern Ontarios best new home value

starting from $224,900

Own a new home from just

Maplewood Elev. B

$798.25/mth Brand New LotsBrand New Designs

The Neighbourhoods of Devonshire brings you peaceful and attainable family living in the growing community of Woodstock. With

convenient highway access and all major amenities just minutes away.

Phase Two release of bungalow and 2-storey designs available on 30, 36 and 42 foot lots.

dreamachievein something new

A Bell Fibe Community

SWO 06-21-14.indd 21 6/19/14 1:30 PM

All-brick, detached, freehold homes starting at

with a fully-equipped recreation centre (monthly association fee of just $30) andonly minutes away from medical facilities, shopping, dining and great golf.

3 GREAT NEW MODELS NOW OPEN FOR VIEWING

$232,000(incl. hst)

3 ESSELTINE DRIVE, TILLSONBURGMODEL HOME HOURS:

OPEN MONDAY - THURSDAY, SATURDAY & SUNDAY 10AM TO 5PM.

FRIDAYS & HOLIDAYS BY APPOINTMENT ONLY.

E.&O.E. Prices & Specifications are subject to change without notice.*Viewing of model homes is subject to prior sale.

Call us now at 1-800-265-5709www.baldwinplace.ca

*

BALDWIN PLACE

UNBEATABLE

VALUE

BP2014 NH&C Ad 3 Final:Layout 1 5/14/14 10:59 AM Page 1

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SWO 06-21-14.indd 22 6/19/14 1:30 PM

All-brick, detached, freehold homes starting at

with a fully-equipped recreation centre (monthly association fee of just $30) andonly minutes away from medical facilities, shopping, dining and great golf.

3 GREAT NEW MODELS NOW OPEN FOR VIEWING

$232,000(incl. hst)

3 ESSELTINE DRIVE, TILLSONBURGMODEL HOME HOURS:

OPEN MONDAY - THURSDAY, SATURDAY & SUNDAY 10AM TO 5PM.

FRIDAYS & HOLIDAYS BY APPOINTMENT ONLY.

E.&O.E. Prices & Specifications are subject to change without notice.*Viewing of model homes is subject to prior sale.

Call us now at 1-800-265-5709www.baldwinplace.ca

*

BALDWIN PLACE

UNBEATABLE

VALUE

BP2014 NH&C Ad 3 Final:Layout 1 5/14/14 10:59 AM Page 1











SWO 06-21-14.indd 23 6/19/14 1:30 PM

//insurance needs & OPTiOns

What many consumers dont realize, however, is that this insurance doesnt protect

you, the homeowner it protects your lender against

mortgage default.

dO yOu need

mortgage loan insurance?

Buying a new home and not sure if you need mortgage loan insurance? Well, if youre making a down payment of less than 20 per cent of the purchase price (whats known as a high-ratio mortgage), your lender will almost certainly require you to have mortgage loan insurance.

What many consumers dont realize, however, is that this insurance doesnt protect you, the homeowner it protects your lender against mortgage default. But since the mortgage is insured essentially guaranteed by Canada Mortgage and Housing Corp. this program also enables consumers to purchase homes with a minimum down payment of five per cent.

Mortgage loan insurance is not to be confused with mortgage life insurance, which guarantees that your remaining mortgage at the time of your death will not be a burden to your estate.

The CMHC Mortgage Loan Insurance premium is calculated as a percentage of the loan and is based on the size of your down payment. The higher the percentage of the total house price/value that you borrow, the higher percentage you will pay in insurance premiums.

If youre putting down five per cent as a down payment and mortgaging the balance, your loan-to-value (LTV) ratio is then 95 per cent. Generally speaking, the higher the LTV, the greater the premium for mortgage loan insurance. For example, for an LTV of 95 per cent, the standard premium is 2.75 per cent of the purchase price; for an LTV of 90 per cent, its two per cent; for an LTV of 85 per cent, the premium is 1.75 per cent, and so on.

The premium can be paid in a single lump sum or it can be added to your mortgage and included in your monthly payments.

Without mortgage insurance, you may avoid the insurance premium, but you could also pay higher interest rates for the mortgage, as well as additional administrative fees. At the end of the day, for the vast majority of borrowers, the cost of CMHC Mortgage Loan Insurance is more than fully offset by the savings achieved.

Under the CMHC Green Home program, buyers may qualify for a 10-per-cent premium refund and extended amortization period without surcharge, for mortgages used to finance an energy-efficient home.

For more information, visit cmhc-schl.gc.ca

Sifton.com

TM

226.663.6291

Visit the Sales Centre Today!3451 Morgan Cres., London, ON

Mon. - Wed.: 12:00-5:00 pmSat. and Sun.: 1:00-5:00 pm

Make Westwood VillageYour New Home

Unique collection of luxury one-oor condominums

Featuring Energy Star rated homes

Pricing from the low $300s

Selection of units are available for occupancy within 90 days

Shopping and recreation just minutes away

$5,000 in FREE UPGRADESIf you purchase before July 31st


SWO 06-21-14.indd 24 6/19/14 1:30 PM

//insurance needs & OPTiOns

What many consumers dont realize, however, is that this insurance doesnt protect

you, the homeowner it protects your lender against

mortgage default.

dO yOu need

mortgage loan insurance?

Buying a new home and not sure if you need mortgage loan insurance? Well, if youre making a down payment of less than 20 per cent of the purchase price (whats known as a high-ratio mortgage), your lender will almost certainly require you to have mortgage loan insurance.

What many consumers dont realize, however, is that this insurance doesnt protect you, the homeowner it protects your lender against mortgage default. But since the mortgage is insured essentially guaranteed by Canada Mortgage and Housing Corp. this program also enables consumers to purchase homes with a minimum down payment of five per cent.

Mortgage loan insurance is not to be confused with mortgage life insurance, which guarantees that your remaining mortgage at the time of your death will not be a burden to your estate.

The CMHC Mortgage Loan Insurance premium is calculated as a percentage of the loan and is based on the size of your down payment. The higher the percentage of the total house price/value that you borrow, the higher percentage you will pay in insurance premiums.

If youre putting down five per cent as a down payment and mortgaging the balance, your loan-to-value (LTV) ratio is then 95 per cent. Generally speaking, the higher the LTV, the greater the premium for mortgage loan insurance. For example, for an LTV of 95 per cent, the standard premium is 2.75 per cent of the purchase price; for an LTV of 90 per cent, its two per cent; for an LTV of 85 per cent, the premium is 1.75 per cent, and so on.

The premium can be paid in a single lump sum or it can be added to your mortgage and included in your monthly payments.

Without mortgage insurance, you may avoid the insurance premium, but you could also pay higher interest rates for the mortgage, as well as additional administrative fees. At the end of the day, for the vast majority of borrowers, the cost of CMHC Mortgage Loan Insurance is more than fully offset by the savings achieved.

Under the CMHC Green Home program, buyers may qualify for a 10-per-cent premium refund and extended amortization period without surcharge, for mortgages used to finance an energy-efficient home.

For more information, visit cmhc-schl.gc.ca

Sifton.com

TM

226.663.6291

Visit the Sales Centre Today!3451 Morgan Cres., London, ON

Mon. - Wed.: 12:00-5:00 pmSat. and Sun.: 1:00-5:00 pm

Make Westwood VillageYour New Home

Unique collection of luxury one-oor condominums

Featuring Energy Star rated homes

Pricing from the low $300s

Selection of units are available for occupancy within 90 days

Shopping and recreation just minutes away

$5,000 in FREE UPGRADESIf you purchase before July 31st

25

SWO 06-21-14.indd 25 6/19/14 1:30 PM

ANCASTERBEAMSVILLEBINBROOKBRANTBRANTFORDBURLINGTONCATHARINES GRIMSBY HAMILTON

MILTONNIAGARAOAKVILLEPARISPORT DOVERST. CATHARINESSTONEY CREEKVINELAND

HAMILTON HALTON NIAGARA

PREVIEW REGISTRATIONNEW HORIZON HOMES Stoney Creek | Waterfront Trails True lakeside living coming to Stoney Creek. Register now for VIP access. newhorizonhomes.ca

ROSEHAVEN HOMES Waterdown | Waterdown Meadows Coming soon fall 2014! Register now! waterdownmeadows.com

MATTAMY HOMES Oakville | The Preserve Coming soon new and exciting live/work opportunities. Register now! mattamyhomes.com

VALERY HOMES Milton | Viva2 Register now for one- and two-bedroom condo suites, while future phases will include condo townhome designs valeryhomes.com

SILVERGATE HOMES Niagara on the Lake | St. Andrews Glen Register now for this elegant collection of spacious condo townhomes in this historic town. standrewsglen.com

KINGWOOD HOMES Brantford | Riverwalk Grand opening coming soon register now for this master-planned community of luxury 40-ft. singles beside the Grand River. kingwoodhomes.ca

SPALLACCI HOMES Hamilton | Eden Park Coming soon Simona Place The Towns of Eden Park Exquisite collection of executive townhomes. spallaccihomes.com

LOSANI HOMES Binbrook | Fairgrounds Register now for the final phase of towns and singles, coming this summer. losanihomes.com

SPALLACCI HOMES Hamilton | 101 Locke Condos Register now Boutique condo living is coming to Hamiltons hip Locke Street. spallaccihomes.com

NEW OPENINGSSPALLCCI GROUP & VALERY HOMES Hamilton | The Residences of Royal Connaught Now open the transformation of this landmark property has begun. Heres your chance to buy a piece of history. royalconnaught.com

MULTI-AREA DEVELOPMENTS Hamilton | Bloom Grand opening of two- and three-storey townhomes in Summit Park. multi-area.com

KINGWOOD HOMES Paris | Village on the Grand Now open elegant towns backing onto the Grand River. kingwoodhomes.ca

NEW HORIZON HOMES Oakville | Mint Condos Tradition meets urban living at Bronte and Dundas in these affordable luxury condos. newhorizonhomes.ca

LJM DEVELOPMENTS Grimsby | Waterview Condominiums Boutique lifestyle with contemporary architecture and state-of-the-art fixtures. waterviewcondominiums.ca

ROSEHAVEN HOMES Mount Albert | Victoria Highlands 50-ft. detached singles from the $580s. rosehaveninmountalbert.com

LAKEVIEW HOMES &SOLMAR DEVELOPMENT GROUP Niagara-on-the-Lake | Cannery Park New release of 38-ft. singles and semi-detached homes in this community among tree-lined streets, shopping, vineyards and wineries. cannerypark.ca

SPALLACCI HOMES Hamilton | Eden Park Grand Opening of Chateau-inspired semis collection. spallaccihomes.com

NEW RELEASESROSEHAVEN HOMES Chippawa | Lyons Creek 50-ft. detached and 35-ft. freehold towns from the $320s. rosehavenhomes.com

HALTON HILLS WELLINGTON WATERLOO

BUILDERS: If you would like to include your new model home or site opening, email [email protected].

Please say you saw it in New Home & Condo Guide!

New Home WATCH

//insurance needs & options

Four things Canadians would rather do than think about insuranceWhen it comes to thinking about insurance, new research has found that there are a lot of unpleasant tasks Canadians would rather do in place of researching coverage options. A recent survey commissioned by TD Insurance found that 62 per cent of respondents would prefer to shovel snow, spend a Saturday doing laundry, go to the dentist or even wait in an airport security line rather than think or talk about insurance coverage.

The national survey also explored Canadians ability to estimate risks and the likelihood of certain events. The findings indicate that as a group, Canadians generally underestimate risks. For example, the survey found that 81 per cent of participants underestimated the likelihood of a home break-in, which is about 1 in 200 according to Statistics Canada. Furthermore, two-thirds (67 per cent) of those surveyed reported seeing themselves as more safety conscious than the rest of the population, even though statistically this cant be the case.

When the probability of risks are not well-known it can be difficult to seek out insurance coverage that offers

the right protection, says Craig Richardson, vice-president at TD Insurance. We encourage customers to talk to their insurance providers to better understand their coverage. We strive to help customers weigh options against risks and factor in the necessary considerations to choose coverage that best reflects their needs.

The survey found that respondents were as likely to overestimate potential risks as they were to underestimate them. Asked to predict the chances of being injured, even slightly, in an auto accident in a typical year, 36 per cent underestimated the likelihood but 30 per cent overestimated. According to Transport Canada statistics the odds are approximately 1 in 130.

Studies have shown that many people prefer to avoid thinking about negative situations, even if they believe those situations are likely to happen, says Dr. Edwin Weinstein, a psychologist and president of the Brondesbury Group who advised TD on its research for this initiative. Shopping for insurance is one of those times in life where youre forced to think about situations you would rather avoid. Its not surprising that people would choose to shovel snow than consider the possibility that unpleasant things can happen.

The results also showed risk assessments differ across gender and age groups. For example, men were more likely than women to identify themselves as above average in safety consciousness and health. Almost three quarters of men (72 per cent) said they were more safety conscious than others, whereas only 62 per cent of women made the same claim. And, at 53 per cent, men were also more likely than women to believe they were healthier than others their age only 44 per cent of women identified themselves as having above average health. Interestingly seniors over 65 years of age were the group most likely to rate themselves healthier than others their age, with 65 per cent choosing this option.

Its great to have a positive outlook in life, but its also important to be prepared, says Richardson. Our advice is to expect the best, but plan for bumps in the road. For example creditor protection insurance on a mortgage, car loan or even a credit card can help ensure one doesnt default on a loan in the case of a life event that makes it difficult to make payments.


SWO 06-21-14.indd 26 6/19/14 1:30 PM

ANCASTERBEAMSVILLEBINBROOKBRANTBRANTFORDBURLINGTONCATHARINES GRIMSBY HAMILTON

MILTONNIAGARAOAKVILLEPARISPORT DOVERST. CATHARINESSTONEY CREEKVINELAND

HAMILTON HALTON NIAGARA

PREVIEW REGISTRATIONNEW HORIZON HOMES Stoney Creek | Waterfront Trails True lakeside living coming to Stoney Creek. Register now for VIP access. newhorizonhomes.ca

ROSEHAVEN HOMES Waterdown | Waterdown Meadows Coming soon fall 2014! Register now! waterdownmeadows.com

MATTAMY HOMES Oakville | The Preserve Coming soon new and exciting live/work opportunities. Register now! mattamyhomes.com

VALERY HOMES Milton | Viva2 Register now for one- and two-bedroom condo suites, while future phases will include condo townhome designs valeryhomes.com

SILVERGATE HOMES Niagara on the Lake | St. Andrews Glen Register now for this elegant collection of spacious condo townhomes in this historic town. standrewsglen.com

KINGWOOD HOMES Brantford | Riverwalk Grand opening coming soon register now for this master-planned community of luxury 40-ft. singles beside the Grand River. kingwoodhomes.ca

SPALLACCI HOMES Hamilton | Eden Park Coming soon Simona Place The Towns of Eden Park Exquisite collection of executive townhomes. spallaccihomes.com

LOSANI HOMES Binbrook | Fairgrounds Register now for the final phase of towns and singles, coming this summer. losanihomes.com

SPALLACCI HOMES Hamilton | 101 Locke Condos Register now Boutique condo living is coming to Hamiltons hip Locke Street. spallaccihomes.com

NEW OPENINGSSPALLCCI GROUP & VALERY HOMES Hamilton | The Residences of Royal Connaught Now open the transformation of this landmark property has begun. Heres your chance to buy a piece of history. royalconnaught.com

MULTI-AREA DEVELOPMENTS Hamilton | Bloom Grand opening of two- and three-storey townhomes in Summit Park. multi-area.com

KINGWOOD HOMES Paris | Village on the Grand Now open elegant towns backing onto the Grand River. kingwoodhomes.ca

NEW HORIZON HOMES Oakville | Mint Condos Tradition meets urban living at Bronte and Dundas in these affordable luxury condos. newhorizonhomes.ca

LJM DEVELOPMENTS Grimsby | Waterview Condominiums Boutique lifestyle with contemporary architecture and state-of-the-art fixtures. waterviewcondominiums.ca

ROSEHAVEN HOMES Mount Albert | Victoria Highlands 50-ft. detached singles from the $580s. rosehaveninmountalbert.com

LAKEVIEW HOMES &SOLMAR DEVELOPMENT GROUP Niagara-on-the-Lake | Cannery Park New release of 38-ft. singles and semi-detached homes in this community among tree-lined streets, shopping, vineyards and wineries. cannerypark.ca

SPALLACCI HOMES Hamilton | Eden Park Grand Opening of Chateau-inspired semis collection. spallaccihomes.com

NEW RELEASESROSEHAVEN HOMES Chippawa | Lyons Creek 50-ft. detached and 35-ft. freehold towns from the $320s. rosehavenhomes.com

HALTON HILLS WELLINGTON WATERLOO

BUILDERS: If you would like to include your new model home or site opening, email [email protected].

Please say you saw it in New Home & Condo Guide!

New Home WATCH

//insurance needs & options

Four things Canadians would rather do than think about insuranceWhen it comes to thinking about insurance, new research has found that there are a lot of unpleasant tasks Canadians would rather do in place of researching coverage options. A recent survey commissioned by TD Insurance found that 62 per cent of respondents would prefer to shovel snow, spend a Saturday doing laundry, go to the dentist or even wait in an airport security line rather than think or talk about insurance coverage.

The national survey also explored Canadians ability to estimate risks and the likelihood of certain events. The findings indicate that as a group, Canadians generally underestimate risks. For example, the survey found that 81 per cent of participants underestimated the likelihood of a home break-in, which is about 1 in 200 according to Statistics Canada. Furthermore, two-thirds (67 per cent) of those surveyed reported seeing themselves as more safety conscious than the rest of the population, even though statistically this cant be the case.

When the probability of risks are not well-known it can be difficult to seek out insurance coverage that offers

the right protection, says Craig Richardson, vice-president at TD Insurance. We encourage customers to talk to their insurance providers to better understand their coverage. We strive to help customers weigh options against risks and factor in the necessary considerations to choose coverage that best reflects their needs.

The survey found that respondents were as likely to overestimate potential risks as they were to underestimate them. Asked to predict the chances of being injured, even slightly, in an auto accident in a typical year, 36 per cent underestimated the likelihood but 30 per cent overestimated. According to Transport Canada statistics the odds are approximately 1 in 130.

Studies have shown that many people prefer to avoid thinking about negative situations, even if they believe those situations are likely to happen, says Dr. Edwin Weinstein, a psychologist and president of the Brondesbury Group who advised TD on its research for this initiative. Shopping for insurance is one of those times in life where youre forced to think about situations you would rather avoid. Its not surprising that people would choose to shovel snow than consider the possibility that unpleasant things can happen.

The results also showed risk assessments differ across gender and age groups. For example, men were more likely than women to identify themselves as above average in safety consciousness and health. Almost three quarters of men (72 per cent) said they were more safety conscious than others, whereas only 62 per cent of women made the same claim. And, at 53 per cent, men were also more likely than women to believe they were healthier than others their age only 44 per cent of women identified themselves as having above average health. Interestingly seniors over 65 years of age were the group most likely to rate themselves healthier than others their age, with 65 per cent choosing this option.

Its great to have a positive outlook in life, but its also important to be prepared, says Richardson. Our advice is to expect the best, but plan for bumps in the road. For example creditor protection insurance on a mortgage, car loan or even a credit card can help ensure one doesnt default on a loan in the case of a life event that makes it difficult to make payments.


SWO 06-21-14.indd 27 6/19/14 1:30 PM

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Ancaster DAWN VICTORIA Evergreens from mid $400's 36

Ancaster LOSANI HOMES Ancaster Glen 77

Beamsville HOMES BY DESANTIS Lincoln Square from $279,900 11

Brantford EMPIRE COMMUNITIES Wyndfield from $233,990 2&3

Grimsby BUCCI HOMES Bliss from mid $260's 31

Hamilton EMPIRE COMMUNITIES Summerlea from $316,990 2&3

Hamilton LOSANI HOMES The Woodlands 77

Hamilton MULTI-AREA DEV Bloom from $270's 49

Hamilton STARWARD HOMES Country Ridge Estates from $435,000 43

Hamilton SPALLACCI HOMES Eden Park from $300's 47

Hamilton VRANCOR GROUP 150 Main from low $200's 51

Milton MATTAMY HOMES Hawthorne Village from $439,990 17

Niagara EMPIRE COMMUNITIES Imagine from $229,9

Southwestern Ontario New Home and Condo Guide - 21 Jun., 2014

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Transcript of Southwestern Ontario New Home and Condo Guide - 21 Jun., 2014