GTA New Home Guide - February 2, 2013

TFebruary 2 - 16, 2013 Volume 21 Issue 03

INSIDE THIS ISSUE

SUPPLY ISSUES AFFECTINGLOWRISE HOME SALES

SOFT LANDING TO DISSIPATE BY MID-YEAR

WHY NOW IS A GOOD TIME TO BUY A HOME

001-NHGTA_02-02-2013.indd 1 1/28/13 4:24:03 PM

KING RD

MAJOR MACKENZIE

MAJOR MACKENZIE

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ASpen Ridge new HOme FindeR

Brampton

Credit manor Heights NOW OPEN Mississauga Rd. & Steeles Ave. Towns from $400s Singles from $600s 905.216.5155

King City

King Oaks NEW RElEASE MikE NivEN MOdEl East side of keele St., south of king Rd. 60', 70' & 80' Singles from $1.1 million 905.539.0181

Kleinburg

Kleinburg Hills SAlES OFFiCE NOW OPEN Hwy. 27 & Major Mackenzie dr. 40, 50 & 60 lots Singles from $800s 647.921.0381

markham

Upper Cornell MOdEl HOME NOW OPEN Northeast corner of 9th line & Bur Oak Semis & Singles from the mid $490s 905.554.3446

nobleton

King Country estates NEW RElEASE TWO MikE NivEN MOdElS East side of Hwy. 27 just north of king Rd. Singles from $780s 905.558.0255

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Stay ahead of the curve with moto at Kettle Lakes Club. Moto is a revolutionary new community

capturing the very best of urban downtown design, integrated gracefully into the natural beauty of the

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youre looking for. Discover urban perfection today.

Modern Executive Townhomes starting from the mid $500s.

presentation Centre

Bayview and

Bethesda Sideroad

Richmond Hill

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distinctive. dynamic.Unlike any other.

mOdeRn tOwnS On BAyview

motoNOW OPEN

We wish you a happy and healthy new year.

ASP 20164 New Years MOTO New Homes DPS 13.indd 1-2 13-01-02 5:04 PM

KING RD

MAJOR MACKENZIE

MAJOR MACKENZIE

RUTHERFORD RD

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15TH SIDEROAD

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ASpen Ridge new HOme FindeR

Brampton

Credit manor Heights NOW OPEN Mississauga Rd. & Steeles Ave. Towns from $400s Singles from $600s 905.216.5155

King City

King Oaks NEW RElEASE MikE NivEN MOdEl East side of keele St., south of king Rd. 60', 70' & 80' Singles from $1.1 million 905.539.0181

Kleinburg

Kleinburg Hills SAlES OFFiCE NOW OPEN Hwy. 27 & Major Mackenzie dr. 40, 50 & 60 lots Singles from $800s 647.921.0381

markham

Upper Cornell MOdEl HOME NOW OPEN Northeast corner of 9th line & Bur Oak Semis & Singles from the mid $490s 905.554.3446

nobleton

King Country estates NEW RElEASE TWO MikE NivEN MOdElS East side of Hwy. 27 just north of king Rd. Singles from $780s 905.558.0255

QUEEN ST.

MA

VIS

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NORTH

Stay ahead of the curve with moto at Kettle Lakes Club. Moto is a revolutionary new community

capturing the very best of urban downtown design, integrated gracefully into the natural beauty of the

Oak Ridges Moraine. if you love the sleek beauty and clean lines of modern design and have been

longing for a non-traditional approach to a townhome community, kettle lakes Club is precisely what

youre looking for. Discover urban perfection today.

Modern Executive Townhomes starting from the mid $500s.

presentation Centre

Bayview and

Bethesda Sideroad

Richmond Hill

289.231.2849

distinctive. dynamic.Unlike any other.

mOdeRn tOwnS On BAyview

motoNOW OPEN

We wish you a happy and healthy new year.

ASP 20164 New Years MOTO New Homes DPS 13.indd 1-2 13-01-02 5:04 PM001-Aspen-Corp 01-19-13.indd 1 1/28/13 11:55:01 AM

The Mortgage Minute Why investing in real estate still makes sense

PRIMONT HOMES New communities nowunder construction in Brampton and Markham

p. 32cover story

contentsFEBRUARY 2 - 16, 2013 || VOLUME 21 ISSUE 03

24 92 community focus features

24 WOODBRIDGE Fieldgate HomesVaughan Valley Estates the toast of Woodbridge with estate homes in exceptional location

32 BRAMPTON & MARKHAM Primont HomesNew communities now under construction in Brampton and Markham

92 GEORGETOWN Menkes DevelopmentsThe Enclaves of Upper Canada an Energy Star community bordering conservation lands

002-003 TOC_AY.indd 2 1/29/13 4:55:07 PM

70 18

4022

community focus features regular and special featuresIN EVERY ISSUE

4 EDITORS NOTE10 CONTRIBUTORS48 HOT DATES102 AD INDEX

COLUMNISTS

14 LEGALLY SPEAKINGFinancing and what happensif it goes wrong by Jayson Schwarz

18 BILD REPORTTallying new home sales in 2012 by Bryan Tuckey

22 TAXING ISSUESSelling a real estateinvestment propertyby Henry Choo Chong

36 THE MORTGAGE MINUTEWhy investing in real estatestill makes senseby Peter Kinch

44 MONEY MATTERS12 steps to gettingfinancially organized by Gail Vaz-Oxlade

96 FUNDAMENTALLY SPEAKINGPlanning to buy new? Now isa good time to buy by Wayne Karl

HOMEBUYERS HELP

34 TAX MATTERS Canadians struggle with various issues when tax planning

56 SMART SHOPPER Exclusive discounts and deals for our readers

70 DESIGN TRENDS Trend forecast for 2013by Erica Gelman

76 TRENDSPOTTING Tasteful displaysby Elisa Krovblit

95 RESOURCE SECTION Mortgage Calculator and Rate Table

99 GTA HOT SHEETTwo pages of new openings, new releases and preview registrations

IN THE NEWS

16 BILD/REALNET Lowrise sector suffers limited supply at years end

38 BMO Housing market soft landingto dissipate by mid-year

40 SKYLINE DESTINATION COMMUNITIES Top 10 reasons for purchasingat Deerhurst Sanctuary

54 ECONOMY Oshawa Centre to enter into new era of shopping with investment

88 MATTAMY HOMES CEO Peter Gilgan lead donorto Halton Peel cancer facility

002-003 TOC_AY.indd 3 1/29/13 4:55:15 PM

e d i t o r s n o t e

No one can debate the increasing popularity of highrise home options in Toronto and elsewhere in the GTA over the last 10 years or so. The 2012 market review from RealNet Canada Inc. and the Building Industry and Land Development Association (BILD) illustrates just to what degree condos are favoured, due to price point, proximity to the city and other reasons.

As of Dec. 31, 2012, 26 per cent of the new-home choices was lowrise and 74 per cent highrise. This is a near total inverse of the consumer choices just a decade ago, when 63 per cent of available inventory was lowrise and 37 per cent was highrise, says RealNet President George Carras.

Indeed, myriad and challenging factors are at play here (see pages 16, 18 and 104 for more), but the net result for lowrise homes is record low levels of supply and record high prices. RealNet says the index price for a new lowrise home hit an all-time high of $632,868 in 2012, up 16 per cent year-over-year, while the corresponding gure for a new highrise home was $436,024, up just 0.4 per cent.

Since the challenges facing the industry arent going to be resolved overnight, lowrise opportunities that come available in the GTA are usually snapped up right quick. For quali ed buyers, this likely means continued strong performance.

Wayne Karl EDITORWall2Wall Media, [email protected]

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

High performance in lowriseChallenges notwithstanding, theres no denying lowrise strength in the GTA

Think you cant afford a home?Its more a ordable than you rst thought

Much like that bank commercial that says, Youre richer than you think, a new home may be more affordable than you originally thought. Perhaps you need only to change your de nition of home to get into the market.

While a detached home is the traditional choice for many, highrise and lowrise suites, lofts and townhomes have become a prime choice among rst-time buyers and empty nesters in the market for new place to call home.

Not only does townhouse and condominium living afford you the opportunity to live in a prime neighbourhood at a great starting price, when its time to move you can often opt to remain in the same neighbourhood, since many communities offer a mix of designs and sizes, which allows families to relocate easily without having to change jobs or schools.

Todays communities generally have a range of sizes and prices that start at the affordable end of the price spectrum. This winter, many builders and developers are gearing up for their grand openings and have new communities available for quick occupancy. Its an exciting time to be shopping for a new place, so dont miss this excellent buying opportunity.

Have a look through this issue and see what you think. The home of your dreams is waiting.

Susan Legge EDITOR-IN-CHIEFWall2Wall Media, [email protected]

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

4 NEW HOME GUIDE GTA | FEBRUARY 2 - 16, 2013

004 Editors page_AY-WK.indd 4 1/29/13 4:55:23 PM

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GTA_NH&Cdps_(all-sites)Jan.26.indd 1 23/01/13 2:04 PM

008-009-Mattamy-Corp 02-02-13.indd 8 1/28/13 11:55:17 AM

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36' WideLot Home, Plan 5, Elev. C, 2,193 Sq.Ft., $503,990

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

Townhome, The Barrington, Elev. G, 1,306 Sq.Ft., $407,990

Elev. G

Rear Lane Townhome, The Holly, Elev. E, 1,939 Sq.Ft., $484,990

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A Beautiful Mattamy Condo Interior30 WideLot Home, Plan 6, Elev. B, 1,749 Sq.Ft., $407,990 Now $387,990



GTA_NH&Cdps_(all-sites)Jan.26.indd 1 23/01/13 2:04 PM

008-009-Mattamy-Corp 02-02-13.indd 9 1/28/13 11:55:18 AM

vice-president, wall2wall Media

Jacqueline Hill

sales Manager new HoMe guide gta, new condo guide, HoMe dcor & renovations

Conni Robinson

associate publisHer, new HoMe & condo guide swo, lifestyle coMMunities

Susan Maxwell

editor-in-cHief, national real estate

Susan Legge

editor

Wayne Karl

art director

Julie Yoo

contributing editors

Janine Druery, Elisa Krovblit, Silvana Longo, Lydia McNutt (on leave), Sara Duck (on leave)

senior account executive

Nina Downs [email protected]

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national account Manager, Mediative Paul Slizys

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copyrigHt 2013 All rights reserved by New Home Guide, Toronto, Ontario, Canada. 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.

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contributorsnew HoMe guide

bild report bryan tuckeyBryan Tuckey is President and CEO of the Building Industry and Land Development Association (BILD) and can be found on Twitter (twitter.com/bildgta), Facebook (facebook.com/bildgta), Youtube (youtube.com/bildgta) and BILDs official online blog (bildblogs.ca)

taxing issues Henry choo chong, cga

Henry Choo Chong is a certified general accountant. Henry sits on many committees and provides accounting and tax advice to individuals and businesses in the GTA. Send your tax questions via email to Taxing Issues at: [email protected]

legally speaking Jayson schwarz, schwarz law -barristers and solicitors

Jayson Schwarz LL.M. is a Toronto real estate lawyer and partner in the law firm Schwarz Law LLP. He can be reached by visiting schwarzlaw.ca or by email at [email protected] or phone at 416.486.2040

Money Matters gail vaz-oxladeGail Vaz-Oxlade is the host of Til Debt Do Us Part, author of Debt Free Forever and blogs daily at gailvazoxlade.com. Follow Gail on Twitter at twitter.com/GailVazOxlade

tHe Mortgage Minute peter kinch Peter is an award-winning mortgage broker and best-selling author of The Canadian Real Estate Action PlanVisit peterkinch.com or contact him at [email protected]

design trends erica gelmanErica Gelman is Principal of Erica Gelman House Of Design, specializing in both large and small scale residential design projects. Known for enhancing and creating new possibilities in every space of your home. ericagelman.com

10 new HoMe guide gta | february 2 - 16, 2013

010 Contributors_Masthead_AY-WK.indd 10 1/29/13 4:55:32 PM

Sales office located at the S/E corner of Cornell Centre Boulevard and 16th Ave. Open Monday to Thursday from 1 to 8 p.m.; Friday by appointment only; Weekends and Holidays from 11 a.m. to 6 p.m.

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FEBRUARY 2 - 16, 2013 | NEW HOME GUIDE GTA 13

012-013-Primont-Corp 11-10-12.indd 13 1/29/13 11:44:08 AM

if it goes wrong?

Financing and what happens

l e g a l l y s p e a k i n g

Jayson Schwarz LL.M. is a Toronto real estate lawyer and senior partner in the law firm

Schwarz Law LLP. If you have a topic in mind, email [email protected] and give us your

questions, concerns, critiques and quandaries.

Before you go new-home shopping, visit your bank, trust company or other fi-nancial institution to see what amount of mortgage you qualify for. take your significant other, if you have one, because everyones income and assets help. Once you know how much you can borrow, secure the best rate you can and lock it in for as long a period as possible. dont be afraid to ne-gotiate the banks want and need your business. dont be afraid to shop around for rates and lock-in periods.

You should also visit the sales centre armed with your knowledge and check what mortgage rate and term the builder is offer-ing. take note that the builder may have

brought the rate down to make his package more attrac-tive or forced his bank as part of his deal with them to offer special rates. Remember, if your banks offered rate and terms are close, you may be able to negotiate a better deal with the builder. if you do not take the builder mortgage you may be able to get some leverage in your overall negotiations as the builder may save money by not having to pay his bank for the better rate. Question this and make sure you understand all of the financing details. Regardless of where you go to get financing, get your commitment in writing!

when we walk into that sales centre, all ready to buy our beautiful new home, perhaps the most important piece of the puzzle we need to have is security in our fi-nancial arrangements. a tragedy waiting to happen occurs when you sign an unconditional offer, give your hard-earned, harder-saved deposit to the builder and later find out you do not qualify for the mortgage. in other words, dont buy the home unless you have a mortgage commit-ment or a conditional deal. this leads us into the next part of the discussion what happens if it goes wrong?

an agreement of purchase and sale for the purchase of land is a contract, and once it is signed it binds both parties to certain obligations. if either party does not hold up to their end of the arrangement, they can be held liable to the other party for either specific performance or damages. Firstly, if the purchasers default, they will likely

lose their deposit. the builder will then have the option of suing to force them to close the deal and pay all legal fees related thereto, or sue them

for any damages the builder might suffer before he resells the condo (for items such as interest, changes and price differential) and legal fees. sometimes, in a booming market, kindhearted builders will release purchasers who have made a mistake or encountered personal tragedies. But dont count on it!

the moral of the story is to make sure you have financ-ing or that the offer is conditional for a few days on both

financing and review by a lawyer. it is critical you get the right advice, and only a lawyer can provide legal advice that is the law. when you select a lawyer, find one who cares about you and a long-term relationship.

happy home hunting!

Perhaps the most difficult part of writing these articles relates not to the actual writing, but thinking of a topic to address. Visit the website at schwarzlaw.ca, or email me at [email protected]. I will try to deal with them in print or electronic form.

by Jayson schwarz

Dont be afraid to shop around

for rates and lock-in periods

14 New hoMe guiDe gTA | february 2 - 16, 2013

014 Jayson Schwarz-when financing goes wrong_JY-WK.indd 14 1/29/13 4:55:39 PM

www.schwarzlaw.ca *Certain Terms and Conditions shall apply. Full disbursement disclosure.

YOU NEED A LAWYER

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february 2 - 16, 2013 | New home guide gTA 15

015-Jayson_Schwarz_Jan2013.indd 15 1/29/13 6:29:22 PM

SaleS of new ground-related houSing in 2012 added up to the second-lowest total since 2000 as constrained land continues to affect af-fordability for new-home buyers in the GTA, ac-cording to a report from the Building Industry and Land Development Association (BILD).

According to RealNet Canada Inc., BILDs of-ficial source of new home market intelligence, the 14,069 new detached, semi-detached and town-homes sold in the GTA last year declined by 20 per cent from 2011, while representing 43 per cent of the GTAs new-home market.

The Index Price for a new lowrise home reached a new record high of $632,868 at the end of 2012, representing a 16-per-cent increase over 2011, and bringing the price gap between high- and lowrise to a new record of $196,844.

Governments must acknowledge that the con-straints being placed on the market, particularly in the lowrise sector, are having dire results, says

i n t h e n ew s

BILD first vice-chair Steve Deveaux. Land constraints, regulatory requirements and a complex approval process fraught with delays are seriously challenging the vitality of the low rise sector, as well as housing choice for the new home buyer.

In simple terms, todays lowrise purchasers are coming out on the losing end of a supply and demand equation.

Total new home sales in 2012 declined by 29 per cent from 2011 to 32,824 homes finishing 18 per cent below the long-term average after a strong first half.

In the first half of 2012, our industry experi-enced an average year and was on pace to bring 40,000 new homes into the market the number needed to accommodate the 100,000 new resi-dents that call the GTA home every year, says BILD President and CEO Bryan Tuckey.

In July, the federal government introduced new, stricter lending restrictions that further reduced affordability and housing choice for new-home buyers, decreasing consumer confidence and significantly reducing sales in the GTA.

Sales of highrise condominiums in 2012 were the fourth-highest since 2000. With 237 projects containing 60,713 units currently under construc-tion, 88 per cent are pre-sold, as a large group of homebuyers continues to show strong demand for the GTAs condominium market.

Dec 12 LowRise HigHRise ToTaL

Region 2010 2011 2012 2010 2011 2012 2010 2011 2012

DuRHam 123 111 76 6 5 10 129 116 86

HaLTon 223 131 90 24 35 40 247 166 130

PeeL 280 200 139 125 31 41 405 231 180

ToRonTo 36 35 13 663 795 355 699 830 368

YoRK 283 335 85 81 211 55 364 546 140

gTa 945 812 403 899 1,077 501 1,844 1,889 904

Jan-Dec 16,394 17,543 14,069 20,915 28,734 18,755 37,309 46,277 32,824

Source: RealNet Canada Inc.

Lowrise sector

SuffERS LImITED SuPPLy AT yEARS END

16 new Home guiDe gTa | february 2 - 16, 2013

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by Bryan Tuckey

b i l d r e p o r t

Bryan Tuckey is President and CEO of the Building Industry and Land Development Association (BILD) and can be found on Twitter (twitter.com/bildgta),

Facebook (facebook.com/bildgta), Youtube (youtube.com/bildgta) and

BILDs official online blog (bildblogs.ca).

They say hindsighT is 20/20. For The new home market in the GTA, a look back at 2012 does provide some clarity but only if you look at what happened in the highrise and lowrise sectors together across the GTA.

Together, in the 12 months of 2012, close to 33,000 new homes were purchased, according to the year-end report released on Jan. 23 by RealNet Canada, BILDs official source of new home market intelligence. When compared to the previous years banner year of 46,000 new homes, its a

29-per-cent drop, but lets look back a few more years. In 2010, 37,000 new homes were sold and in 2009, the year-end tally was slightly more than 33,000.

The GTA is expected to grow by approximately 100,000 annually, as people choose to make this vibrant, economically-viable and diverse region their home.

Tallying new home

sales in 2012To provide homes for this growing popula-tion, our industry meets the challenge of selling and building an average of 35,000 to 40,000 new homes every year.

If we use hindsight again, we can take a closer look at why our 2012 year-end tally turned out to be lower than the average, and what it means for future homebuyers in the GTA.

In the first six months of 2012, we were on track to have a more normal year of new home sales. Not quite the 2011 numbers we had reached, but closer to our 10-year average. Then, in the summer, the federal government made changes to financing regulations. As expected, it was mainly first-time homebuyers who were shut out by the new mortgage rules. Un-expected was the drop in consumer con-fidence that seeped into the fall months and a decline in new home sales for the remainder of the year.

The analysis also shows that 57 per cent of the new homes purchased were in high-rise communities and 43 per cent were in lowrise developments across the GTA. Last year was the fourth highest year for highrise sales since 2000, but in the lowrise sector it was the second lowest.

The decline in lowrise sales is a direct result of provincial public policy that has encouraged intensification in existing com-munities and constrained land supply in the regions surrounding the city of Toronto.

So, what does it all mean for future homebuyers?

Choice and affordability in the lowrise market is diminishing. There is an imbal-ance and it needs to be corrected, so that those who want a detached, semi-detached or townhouse in the next few years will be able to find one to call home.

The decline in lowrise sales is a direct result of provincial public policy

that has encouraged intensification in existing

communities and constrained land supply in

the regions surrounding the City of Toronto.

18 New home guide gTA | FeBruArY 2 - 16, 2013

018 BILD Report Feb 2_13_AY-WK.indd 18 1/29/13 4:55:45 PM

19

019-Tribute-Landscapes 02-02-13.indd 19 1/28/13 11:55:32 AM

Stouffvilles Master Planned Ravine Community

#"--"/53"& 4506''7*--& 1035 )01& 800%450$,Sizes, prices and specifications are correct at press time and subject to change without notice. All illustrations are artists concept. The ENERGY STAR mark is administered and promoted in Canada by Natural Resources Canada. Used with permission. E.&O.E.

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Stouffvilles Master Planned Ravine Community

#"--"/53"& 4506''7*--& 1035 )01& 800%450$,Sizes, prices and specifications are correct at press time and subject to change without notice. All illustrations are artists concept. The ENERGY STAR mark is administered and promoted in Canada by Natural Resources Canada. Used with permission. E.&O.E.

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AB-1216 NHG CP DPS 1.2.13.indd 1-2 1/23/13 4:27:42 PM

Q.I purchased a rental investment property several years ago. Every year I have filed the rental income on my tax return. This year I sold the property. In addition to my rental income, what tax implications will I have to report? Jared, Toronto

A. Hopefully, you made a profit! The real estate market has been healthy for the past several years and continues to be strong, over the long term. Selling a real estate investment property will generate either a capital gain/loss or a recapture of income/terminal loss.

You will have a capital gain when the proceeds of the sale exceed the original cost of the property. A capital gain must be included in your personal tax return (if you own it personally) and is taxed on 50 per cent of the gains at your personal tax rate. A capital loss occurs when the cost is greater than your proceeds. The capital losses should be included on your personal return and applied against capital gains in that year. Any excess losses can be carried back three years, or carried forward indefi-nitely to reduce capital gains.

In calculating the capital gain/loss, determining the adjusted cost of the property is an essential factor. The adjusted cost must include not just the purchase price

but also other costs in-curred that had to be capitalized. As well, the proceeds of disposition are

all the cost, including the selling price and adjustments pertaining to the sale of the investment.

In addition to the capital gains/losses, you may have a recapture of income. This occurs when you are taking Capital Cost allowance (depreciation) on the building, in any of the years that it was owned by you. The balance in this account is called the undepreciated portion.

A recapture of income occurs when the lesser of the proceeds and the cost of the property is higher than the Undepreciated Capital Cost (UCC). The recapture of income is taxed in its entirety at your personal tax rate. Alternatively, a terminal loss occurs when the lesser of the proceeds and the cost of the property is less than the UCC. This terminal loss can be applied in the current year to reduce other income (such as salaries or business income). Any unused amounts can be carried back three years or carried forward.

Good record keeping is essential to calculate the correct gains or losses.

The opinions and views expressed herein are those of the author and not those of New Home Guide. New Home Guide does not necessarily endorse or encourage any specific tax strategies. Please consult a tax professional for advice specific to your particular situation.

t a x i n g i s s u e s

Henry Choo Chong, CGA provides accounting and tax

services to individuals and businesses in the GTA. He can

be reached at 416.485.5220. Any questions to Taxing Issues

should be e-mailed to [email protected]

by Henry CHoo CHong

SEllInG A real estate investment property

22 New Home Guide GTA | februAry 2 - 16, 2013

022 Henry-investment property_JY-WK.indd 22 1/29/13 4:55:48 PM

Y O U R S T A R H O M E B U I L D E R 5

*Limited quantities available to qualified purchasers. Prices & information correct at press time. Maps not to scale. Lots may have premiums. All illustrations reflect artist impression E.O. & E. Ask a sales rep. for details.

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Woodbridge has long boasted some of the biggest and most beautiful homes in the GTA. Take a drive in the area on a sunny fall day and youll discover many a fine and spacious home set upon stately lots. Yet when it comes to which community of new homes has bragging rights as to being among the very best, Vaughan Valley Estates by Fieldgate Homes has clearly emerged as one of the finest.

Set behind an elegant stone entry gate on the west side of Weston Road, between Teston Road and Major Mackenzie Drive, Vaughan Valley Estates is currently offering its third and final phase of exceptional new homes. With hundreds of families already happily living in the community, theres never been a better time to experience life at Vaughan Valley Estates.

When designing the community, Fieldgate committed to strict architec-tural standards that have brought a pleasing harmony to the streetscapes of the neighbourhood, with homes that offer both visual interest and variety, but which are also pleasingly complementary in their aesthetics.

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C O N T I N U E D O N pa g E 2 6 . . .

c ommun i t y f o c u s

potential homebuyers are always dazzled by the umbria elev. Bs sprawling second floor balcony above the garage, and they love the stunning precast elements leading up to the front entryway.

24 new home guide gta | february 2 - 16, 2013

024-026 CF Fieldgate_NEW TEXT_AY-WK.indd 24 1/29/13 4:55:55 PM


025-Fieldgate-Corp 02-02-13.indd 25 1/28/13 11:55:38 AM

site. There are also 60- and 80-ft. wide lots by another builder in this com-munity. The homes being built on these lots are spaciously conceived, meticulously executed and lavishly appointed from the main floors strip hardwood flooring to their granite kitchen countertops and the 10-ft. ceilings in the 50-ft. homes. Kitchens are designed for the most demanding connoisseur, bathrooms pamper you like a five star hotel and the homes living and entertaining areas embrace any social gathering. Visit the three designer-decorated model homes to see what we mean.

Woodbridges location in Vaughan has always been one of the areas most impressive and appealing attributes. For years, Vaughan was promoted as the City Above Toronto and it has

Fieldgate homes Vaughan Valley Estates

grown into the role, with a range of sophisticated urban amenities.With its location within Woodbridge, Vaughan Valley Estates owners enjoy

access to superb shopping, from convenient local stores to Vaughan Mills located just five minutes away. Excellent schools, restaurants and services abound in the area. Nature is your next-door neighbour, with attractions such as the Boyd Con-servation Area and the Kortright Centre both nearby, along with local parks and community centres. Golfers love the choice of courses in the area, including the highly acclaimed Copper Creek Golf Club. Plus, residents enjoy easy access to major 400-series highways including the 400 and 407, as well as Hwys. 7 and 27.

Fieldgate Homes is one of the most respected builders in the Greater Toronto Area. The company has been family owned and operated for more than 55 years, building a long-standing reputation for its quality, integrity and customer service. Fieldgate offers 41-ft. designs starting at 2,550 sq. ft. with prices from $829,900, and homes on 50-ft. lots from 2,772 sq. ft. priced from $974,990. The Vaughan Valley Estates presentation centre is open from 1 to 8 p.m. Monday to Thursday, and from 11 a.m. to 6 p.m. on weekends and holidays. The three designer-decorated model homes are open from 4 to 8 p.m. Monday to Thursday, and from 11 a.m. to 6 p.m. weekends.

for more information, call fieldgate Homes at 905.303.4728 or visit vaughanvalleyestates.com

c ommun i t y f o c u s | C O N T I N U E D

its easy to make a grand entrance in the umbrias stately front

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26 new home guide gta | february 2 - 16, 2013

024-026 CF Fieldgate_NEW TEXT_AY-WK.indd 26 1/29/13 4:55:58 PM

27

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location, just minutes from Hwys. 404 and 407. Homes feature beautiful brick and stucco exteriors and a fine selection of interior features and finishes. And with schools, shopping, restaurants, a community centre, neighbourhood parks and GO Transit nearby, youre not just moving-in to a home youre moving in to a vibrant, established community setting. Townhomes start from just $432,900, and inventory closings are now available with 2013 move-in dates. Prospective homebuyers can also look forward to a new release of executive townhomes priced from just $369,000 coming this February

to Heirloom. Visit the sales centre on Major Mackenzie Dr. E., just east of Markham Rd., or call 905.201.2804 to learn more!

On the other side of the GTA, Pri-mont has been receiving a lot of atten-tion for its stunning family community in Bramptons iconic Castlemore Village. At Castlemore, potential homebuyers

Construction is well under-way at Primonts popular Castlemore and Heirloom communities, so theres

never been a better time to find the perfect family home with Primont. Like all Primont communities, Cas-tlemore and Heirloom offer breath-taking collections of exquisite family homes at some of the finest locations in the GTA. And with both communi-ties offering 2013 closings, you wont have to wait long to move in to your stunning new Primont home.

Heirloom is an inviting family community of stylish freehold towns and semis at an exceptional Markham

c o v e r s t o r y

Primont CommunitiesNOW UNDER CONSTRUCTION

IN BRAMPTON & MARKHAM

Like all Primont communities, Castlemore

and Heirloom offer breathtaking collections

of exquisite family homes at some of the finest locations in the GTA.

32 New Home Guide GTA | february 2 - 16, 2013

032-033 Cover Story Primont_AY-WK.indd 32 1/29/13 4:56:04 PM

are sure to be impressed by the fine selection of stunning towns, semis, and 40-, 50- and 65-ft. singles. This incredible northeast Brampton com-munity offers inspiring vistas over-looking the West Humber ravine and the Claireville Conservation Area. This natural setting is ideal for nature lovers, who can step out their front doors and enter into a world of hiking, cycling and more. Residents of Castlemore can also delight in the incredible combination of natural beauty and urban convenience, with Bramalea City Centre and a fine array of shops, schools, plazas and parks all just minutes away. With homes starting from just $409,900, and inventory closings available, its never been a better time to make the move to this highly prestigious community. Visit Castlemores sales centre, located on County Road 50, just north of Hwy. 7, or call 905.856.5777 to learn more.

In addition to communities that are currently under construction, Primont also has several other communities that offer beautiful homes and exceptional value at great GTA locations. Bramptons Centretown community features an impressive array of breathtaking townhomes and picture perfect two-car garage singles in a positively stunning master-planned community atmosphere. Located in the northwest part of Brampton, Mount Pleasant is a charming sto-rybook community of unparalleled beauty. Bordering picturesque farmland, yet

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offering all the major conveniences of Brampton such as shopping, schools, restaurants and more Mount Pleas-ant is a neighbourhood that truly of-fers the best of all worlds. And with easy access to Brampton Transit, GO Transit and Hwy. 410, its easy to get anywhere you want to go when you live at Centretown in Mount Pleasant. Centretowns townhomes and singles are priced from just $355,900.

Homebuyers are also falling in love with an exciting new release of only 38 stunning townhomes at Markhams Harmony community. Located right across from South Unionville Square, Harmony is an exclusive family com-munity of stylish executive townhomes. The breathtaking homes in this estab-lished neighbourhood offer homebuyers the rare opportunity to live in one of South Unionvilles most desirable areas. These luxury executive townhomes are priced starting from $539,800.

for more information on any of these wonderful Primont communities, visit primonthomes.com

february 2 - 16, 2013 | New Home Guide GTA 33

032-033 Cover Story Primont_AY-WK.indd 33 1/29/13 4:56:06 PM

Canadians (aged 18 to 54) are ConCerned that their ability to save for retirement will be impaired both by saving for their childrens education (48 per cent) and by taking care of their aging parents (36 per cent), according to the 23rd Annual RBC RRSP Poll.

Despite the potential strain of these family priorities on their retire-ment savings, more than half (57 per cent) of Canadians aged 18 to 54 say their parents retirement experience has shaped their expectations of retirement.

While Canadians may see their parents retirement experience as a model for what to expect, the reality is that their retirement may not be the same, particularly if they are part of the sandwich generation with both aging parents and school age children, says Amalia Costa, head, retirement strategies, RBC. Canadians know that juggling competing financial priorities creates enormous strain on both time and money. A financial advisor can make it easier to develop a retirement plan to balance your financial commitments and family life.

Retirement will likely look different for the next generation of retir-ees, as employer-sponsored pension plans become more rare. The RBC poll found that one-quarter (26 per cent) of Canadians (aged 18 to 54) expect a pension income from an employer to be their primary source of income in retirement and, similarly, fewer than one-in-five (18 per cent) of them have a defined benefit pension plan.

The growing demands on time and money can make meeting retire-ment goals a challenge, but Canadians dont have to do this on their own, adds Costa. Taking the time to meet with a financial advisor is one of the best investments you can make in your financial future. An advisor can help review your financial priorities; understand your income sources and your savings and investment options all to help make your retirement goals a reality.

t a x m a t t e r s

Canadians struggle to addressChilDRenS eDuCATion, Aging PARenTS AnD oWn ReTiRemenT neeDS: RBC poll

Costa provides the following practical advice to help you live for today and save for tomorrow:

Show me the money: look for hidden sources of contribution funds. if you have debt, take advantage of lower interest rates to reduce your overall bor-rowing costs and free up some of your monthly cash flow. For example, you can do this by consolidating higher interest credit card balances into a loan or home equity line with a lower interest rate. Automate your savings habit: get into the good savings habit of paying yourself first by setting up an automatic contribution plan to coincide with your payroll deposit. The funds will come off the top and are often not missed. Start thinking about your re-tirement income plan: if you are within a few years of retirement, switch your focus to establishing your retirement income plan. Translate your vision for the lifestyle you want in your retirement into financial requirements and work with an advisor to learn about your new sources of retirement income and how these will fund your new lifestyle.

34 New home guide gTA | february 2 - 16, 2013

034 Tax Matters RBC_JY-WK.indd 34 1/29/13 4:56:11 PM

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A NEW YEAR HAS BEGUN AND YOURE ANALYZING YOUR FINANCES, planning for the future and wondering where you can get the best return on your money. As we approach another tax season, youll be inundated with multiple mutual fund companies promoting the tax advantages of parking your RSP money with them. Youll wonder about the stock market and the ongoing global issues. Youll start to look at hard assets such as gold or precious medals. And, of course, youll look at real estate. The hard question is, which vehicle will produce the best results? My answer to this question will always be the same: the action is dictated by the goal.

First and foremost, it is important to understand that all of the above options are simply vehicles designed to accomplish an end result. The rst step is to determine what that desired end result is, and then ask yourself, which vehicle will move me closer to that goal? You may have a variety of arguments or reasons to choose one vehicle over another, but here are four reasons why you may want to consider real estate as your investment vehicle of choice, along with one caution:

1 The power of leverageLeverage is a tool that can work for you or against you, but there is no denying the fact that it is a very powerful tool. Lets take the example of two inves-tors sitting on $100,000 cash. One investor chooses to put their capital into either the stock market or

precious metals. If they spend $100,000 they receive in return $100,000 in either stock or a precious metal asset. If their investment were to in-crease (perform) at a rate of 20 per cent over the course of a year (although I dont presently know of any funds offering that return) their investment of $100,000 would produce a $20,000 return.

The other investor chooses to use her $100,000 cash as a 20-per-cent down payment and purchase a $500,000 property in an area that has good economic fundamentals and pro-duces a positive cash ow every month. Lets assume that this property increases by only ve per cent over the course of the year. That would make the value of the property $525,000 effectively a $25,000 increase in your asset value not including the amount of debt reduction or positive cash ow over the course of the year.

by PETER KINCH

Why real estate investi ngSTILL MAKES SENSE

t h e m o r t g a g e m i n u t e

On the surface, the rst investor had an investment that outperformed our real estate investor by four times, but actually made less money due to the fact that it wasnt leveraged.

Thats the power of leverage. The key is to understand that it can also go the other way and that is the impor-tance of having a long-term strategy and investing in areas with strong fun-damentals and good cash ow.

2 Interest ratesTwo keys to being able to develop a successful real estate portfolio are affordability and cash ow, and an underlying fundamental to both of those is the rate you pay for borrow-ing money.

The good news for Canadian inves-tors in 2013 is that we still have low interest rates.

Due to the ongoing global credit issues, the Bank of Canada (BoC) has indicated its intent to keep rates low through to 2013. But it is impor-tant to note that the BoC can only in uence the prime lending rate which is used to determine your vari-able rate mortgage.

It is important for consumers to remember that the xed rates are governed by the bond market and that although the BoC has indicated it does not intend to increase the prime lending rate, that does not guarantee

Two keys to being able to develop a successful

real estate portf olioare a ordability and

cash ow, and an underlying fundamental to both of those is the

rate you pay for borrowing money.


036-037 kinch-Why Real Estate Investing Still Makes Sense_AY-WK.indd 36 1/29/13 4:56:13 PM

that long-term rates will not rise in the meantime. A return of money to the markets will cause a drop in bond pricing followed by an increase in the bond yield, which will result in an increase in long-term rates even if the BoC leaves prime unchanged.

A further threat to low interest rates is that even though we will not likely see a rise in prime, we have already seen the disappearance of the discount on variable-rate mortgages. Due to a lack of liquidity in the global markets, the cost of borrowing has increased for lenders. As such, variable-rate mort-gages are less pro table and they have cut back on the discounts they offer. The net result for borrowers is that the amount you pay on a variable mortgage is not as attractive as it was a year ago.

Having said that, we need to be very clear that even without a discount, a prime lending rate at or about three per cent is ridiculously cheap and allows for great investment opportunities. There are multiple opportunities within the Canadian marketplace that can create positive cash ow as long as the interest rates are below four per cent and you can easily get a ve-year term today well below four per cent, so the ability to get a cash- owing property and lock that in for ve years will be as good in 2012 as its ever been.

3 Seeking safe harboursAs the global nancial markets con-tinue going through more drama than a daytime television show, the fallout is consumer angst resulting in low consumer con dence.

When consumers lack con -dence, they tend not to make big-ticket purchases. Real estate is obvi-ously one of those items and this alone could result in a slight drop in market values. However, it is the exact same angst and fear that drive consumers to seek out safe harbours in a storm, placing their money in areas perceived as protected from the roller-coaster that the stock market has become. This is the reason we have seen records in the price of gold. Investors are speaking with their pocketbooks and saying loud and clear that they are losing con dence in the market and want a tangible asset that they can own and hold. What could be more tangible than real estate and if you were looking for a safe harbour in real estate, which country would you invest in?

Canada has been seen globally as one of the few countries to have survived the last global recession relatively unscathed. In fact, our banking system and domestic economy have become the envy of the world.

4 Sound economic fundamentalsRegardless of where you buy real estate, you should make your purchase based on sound economic fundamentals. There is no such thing as a Canadian real estate market it is regional. You can have solid fundamentals in one town, while another within 100 kilometres could have an economy based solely on exports to the U.S.

I expect the U.S. to be hit harder by the fallout in Europe, but that will impact only regional Canadian economies that depend on trade with the U.S.

Peter Kinch is an award-winning mortgage broker and best-selling author of The Canadian Real Estate Action Plan

Visit peterkinch.com or contact him at [email protected]

Although we are still largely an export-dependent country, there are a lot of regional pockets that have a strong domestic economy and are ex-pected to grow in spite of global issues. Look for strong GDP growth, followed by strong employment numbers which in turn brings a strong tenant base. A strong tenant base combined with low interest rates creates the opportunity for positive cash- owing properties. And if the property ows cash in good times and in bad, you need not worry about potential for values to fall or bubbles to burst.

The value of your property the day after you buy it is irrelevant until the day you go to sell it. If you are purchasing investment real estate with a long-term buy-and-hold phi-losophy, and you have purchased in an area that gives you positive cash ow, then you dont need to worry about the hype in the headlines re-garding property values. Just focus on letting your tenants pay off the mortgage over time and enjoy the cash ow when you have a free and clear asset.

So, as you look at your nancial options for the year, ask yourself rst and foremost: What results do I need from my investments, Then analyze your options in the context of your goals. If you choose real estate, simply stick to the fundamentals, take action while others worry over headlines, take advantage of low rates and use leverage wisely. Invest and dont spec-ulate, and both you and your children will be glad you did in the years to come. Happy investing!

There is no such thingas a Canadian real

estate market it is regional. You can have solid fundamentals in

one town, while another within 100 kilometres

could have an economy solely based on exports

to the U.S.


036-037 kinch-Why Real Estate Investing Still Makes Sense_AY-WK.indd 37 1/29/13 4:56:15 PM

i n t h e n ew s

ExpErts on thE Canadian housing markEt from BMO Financial Group and the industry participated in the inaugural BMO Housing Panel for 2013 to discuss the past year and provide their outlook over the next 12 months.

According to Sal Guatieri, senior economist, BMO Capital Markets, after a decade-long boom, the so-called soft landing appears to be underway in most regions; the expectation is that this trend will continue into 2013.

Home sales and housing starts will continue to moderate and prices will generally stabilize in most regions in 2013, says Guatieri. In the year ahead, the housing market will be supported by moderate job growth, steady immigration, growing demand from echo boomers entering their prime first-time home buying years, and a gradual shift toward more single-person households.

The real estate market will benefit from continued low interest rates, with the Bank of Canada likely on hold for another year, he adds.

Guatieri also notes that Alberta and Saskatchewan could buck the national trend and see higher prices due to con-tinued healthy economic growth and wage increases. Mean-while, pricier Toronto and Vancouver are likely to have a bumpier landing than most other regions, with some prices declining moderately.

AffordAbility And consumer preferenceConrad Zurini, Broker of Record, ReMax Escarpment Realty, says affordability is in question in major cities including Calgary, Toronto and Montreal, with first-time buyers likely staying out of the market for the first half of the year.

Zurini adds that those looking to upgrade will still dominate, given lower interest rates. People who are into walking, lifestyle and entertainment, the farm-to-table trend and buying local are going to fuel that market for the first half of the year.

These consumers are all about amenities and lifestyle theyre very established economically, says Zurini.

Consumers buying for the first time will likely look to other cities in search of greater value.

These buyers move with opportunity, following employment and searching out homes with their desired space, ultimately single-family residential homes, he says. In 2013, consumers will be paying close attention to the investment side of their buying decision.

mortgAge And finAncing AdviceJohn Turner, national director, specialized lending, BMO Bank of Montreal, outlined a number of factors buyers should keep in mind for financing the purchase of a home.

The pre-approved process remains a very important key-stone in the home buying process, whether youre a first time homebuyer or a move-up buyer, says Turner. Generally speak-ing, most folks will need to borrow most of the purchase price of the home, so getting a pre-approved mortgage is a smart thing to do even before the home search starts.

Turner adds that the down payment buyers are able to afford is another important aspect, and that there are strategies buyers should put in place to ensure they can maximize that amount ultimately lowering their overall housing costs.

There are a number of different strategies to save for a down payment. With RRSPs, for instance, customers can withdraw up to $25,000 for the purchase of a home, he says.

Turner also reminds that consumers who pay off their debt quicker pay less interest, and that most mortgages have options embedded in them that help to save money in this way.

At BMO, weve been encouraging customers to take a shorter amortization for some time, he says. In addition, rates are as low as theyve ever been, so its certainly a good time to take advantage of this to pay off your debt sooner so you can retire comfortably and with as little debt as possible.

BMO CAnAdIAn HOuSInG OuTlOOk 2013

Housing market soft landing to dissipate by mid-year:

38 new Home guide gtA | february 2 - 16, 2013

038 News BMO Canadian Housing Outlook 2013-DN-WK.indd 38 1/29/13 4:56:18 PM

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i n t h e n ew s

AT THE BEAUTIFUL SANCTUARY IN Muskoka, Skyline Destination Communi-ties has released 32 Legacy Homesites for sale, and the response is very brisk. Reg-istrations are pouring in for this new residential opportunity in one of Canadas most beloved resort destinations. Indi-viduals, couples and families recognize the many bene ts of owning a home here for their full or part-time use during the year. The reasons for purchasing a home-site in this residential compound are many and varied.01 Resort cott aging: Rather than living in a remote, dif cult-to-access area, owners at Sanctuary will have amenity-rich Hunts-ville only minutes away. Shopping, enter-tainment, restaurants, galleries, services

TOP 10 REASONS FOR PURCHASING AT

Deerhurst Sanctuary and the excellent Muskoka Algonquin Healthcare community hospital. Deerhurst Sanctuary offers the perfect combination of rustic charm and urban convenience. Topping off this ideal location, Algonquin Park is only 20 km away.02 Superb surroundings: Deerhurst Sanctuary is a 133-acre Nature Sanc-tuary that is owned by Skyline. Year-round hiking trails (short, intermedi-ate and advanced), open year-round, meander through the mixed hardwood forest property, inviting visitors to consult interpretive signs and wildlife checklists to make the most of their adventure. The Sanctuary was designed by internationally respected senior naturalist Robin Tapley, who grew up in Muskoka. The Sanctuary provides a unique opportunity for families to bond and re-connect with the surrounding wetlands, streams and mixed forest habitats. Some of the Legacy Homesites in this secure neighbour-hood even back onto the Sanctuary, and in most cases are completely private from neighbours!03 Ameniti es: In addition to the spectacular natural areas, Sanctuary owners will have access to all of the amenities at Deerhurst Resort, in-cluding a private owners beach. A world of adventure awaits with two


040-041 News Deerhurst Sanctuary_AY-WK.indd 40 1/29/13 4:56:23 PM

erties in the area, and still enjoy access to the lake and the fabulous amenities at Deerhurst Resort.07 Value: Homesites in Sanctuary are starting at $200,000, which is remarkable for this coveted area. 08 You can own it today: Sanctuary is located within an established residential community of estate homes. All Homesites are serviced with hydro and telephone. Once your building plans are approved, you can start building.09 Skylife Club: Theres more! Purchasers will receive membership into the SkyLife Club Program (valued at $25,000) as an exclusive bonus. This innovative program offers unprecedented access to Skylines northern and urban properties such as unlimited skiing, gol ng, adventure and perks at Horseshoe Resort, Deerhurst Resort and other Skyline Hotels and Resorts properties. SkyLife Club members receive special deals and incen-tives on opportunities such as treatments at Shizen Spas, skiing equipment rentals, golf club and cart rentals, greens fees and much more.09 Skyline reputati on: Buy with con dence from Skyline International Development Inc., a Canadian company with a world-class portfolio. Skyline was established in 1998 by 2004 Ernst and Young Entrepreneur of the Year, Gil Blutrich. When it comes to outstanding opportunities combined with the peace-of-mind that comes from experience, Skyline and Deerhurst are an unbeatable match.

Act now for this once-in a lifeti me opportunity. Register for the Sanctuary at Skylines Deerhurst Resort in Muskoka at deerhursthomes.com

golf courses, boating, Hummer tours, tennis courts, hiking, four pools, a spa, horseback riding, casual and ne dining, world-class shows, and in the winter, cross-country skiing, downhill skiing, dog-sled-ding, snowmobiling and much more!04 Residenti al compound: Discover the potential to create a residential compound for you and your family right in Deerhurst. Each Sanctuary Homesite can accommo-date a principle residence and an addition-al private cabin. With sizes ranging from 1.5 to 6 acres, the idea is exciting. Think of the possibilities for entertaining family and friends in this incredible setting.05 Fully managed rental program: Purchas-ers will have the ultimate in flexibility through the option of placing their homes into Deerhursts fully and professional managed rental program. Receive rental revenue when you are not in residence, or arrange to have your home managed and taken care of when you are away!06 Lower taxes: Save money with taxes that are much lower than waterfront prop-

The Sanctuary provides a unique opportunity for families to bond and reconnect with the surrounding wetlands, streams and mixed forest habitats


040-041 News Deerhurst Sanctuary_AY-WK.indd 41 1/29/13 4:56:27 PM

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Documents

GTA New Home Guide - February 2, 2013