GTA New Home Guide - May 17, 2014

May 17 - 31, 2014 Volume 22 Issue 10

INSIDE THIS ISSUE

BILD CONFERS AWARDS FORHOME BUILDING EXCELLENCE

BRIDGE FINANCING: WHAT IS IT AND DO YOU NEED IT?

THE PSYCHOLOGY OFMORTGAGE PRE-APPROVAL

001 NHGTA-Cover-05-17-2014-TL-FIN.indd 1 14-05-12 2:49 PM

ASPIREFOR OPENCONCEPTDESIGNS THAT FEEL INTIMATE. What makes for good design? At Aspen Ridge, we believe its the moment your aspirations become actualizations. The moment your dream kitchen becomes a space where you sip, stir and savour in. When interiors not only have the best finishes, but the finishes that work best with your tastes. Trends fade. Style changes. But good design, it withstands the test of time.

Its what you aspire for.

ASPIRE aspenridgehomes.com

MODEL MANIANOW ShOWINg6 Communities and 10 models from 3 of Torontos leading interior designers.

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Aspen Ridge Homes. All Rights Reserved. E.&O.E. May 2014.

contentsMay 17 - 31, 2014 || voluMe 22 issue 10

community focus features24 Woodbridge

Fieldgate Homes Model home sales event at Vaughan Valley Estates

60 Toronto Dunpar Homes The Ossington luxury townhomes now selling

86 Brampton The Daniels Corporation Evermore preview sales draw crowds to Castlemore

on The cover

p. 32greaT gulf

A great promise from Great Gulf

90 Port credit Country Homes Lakeshore Village a place to call home in Mississauga

92 Brampton Townwood Homes Discover the newly opened Marigold in Castlemore

96 oakville Sunrise Homes Detached luxury coming to Bronte Village by the water

in THe newS

28 cMhc Self-employed? Take note of changes in mortgage insurance offerings

42 BIlD BILD confers awards of excellence in home building industry

56 upper West Side Location a revelation at Upper West Side in Thornhill Estates.

88 homebuying Young Canadians put their money where their house is: RBC poll

90

98

regular and special featuresin every iSSue

4 editors note 10 contributors 52 hot Dates 126 ad Index

ColumniSTS

14 BIlD report New numbers tell story of industrys impact on economy by Bryan Tuckey

18 fundamentally Speaking Infrastructures big boost and why you should care by Wayne Karl

38 Mortgage advice Bridge financing what is it and how can it help you? by Alyssa Richard

40 Taxing Issues Pooling financial resources by Henry Choo Chong

50 legally Speaking Getting your house in order by Jayson Schwarz

66 Tarion report New home builders rewarded for excellence in customer service by Howard Bogach

112 Quick Tips Dont let your stuff control you by Hellen Buttigieg

HomebuyerS Help

34 Builder Perspectives Get ready for outdoor living

54 Your first home The psychology of mortgage pre-approval

98 Your first home The value of homeownership still worth the wait: Genworth Canada

119 resource Section Mortgage Calculator and Rate Table

123 gTa hot Sheet Two pages of new openings, new releases and preview registrations

Buying your first home is an exciting experience. Years of saving, months of planning, weeks of searching and days of executing a purchase usually lead to countless hours of anticipation for newcomers to the process. For many, however, it can also mean trepidation.

Relax, though, youre not alone.Indeed, more and more first-time buyers realize the importance of preparing for their initial home purchase. According to the BMO 2014 First-Time Home Buyers Report, theyre taking not only additional time but also more thorough steps to better prepare:

Options, option, optionsTheres more than one way to buy your first home, and its important to take your time to plan your purchase well

Moving made easy Due diligence a must with this part of the homebuying process

Whether youre relocating from one coast to the other or moving to your first place out of your parents home, moving can be hectic, exciting and certainly stressful. But, relax. You can eliminate all of the anxiety associated with moving by taking control of the situation with confidence.

If you decide to move yourself, book a moving truck well in advance from a reliable company that can help with some tips on moving as well as advice regarding the size of vehicle you will need.

//editOrs nOte

30 per cent of first-timers expect parents or family to assist in their purchase 61 per cent are making cutbacks to their lifestyle to facilitate better saving 60 per cent say their homebuying timeline has been delayed

While homeownership affordability is holding its own and interest rates remain low, increasing government-imposed fees and other factors are contributing to rising prices in the new home category. With mortgage rates expected to slowly increase later this year, additional preparation to make smart, wise homebuying choices is essential for first-timers.

If you decide to go with a pro, ask your friends and family to recommend a mover. Call at least three companies to ask about their services and then decide.

Professional movers can do everything for you if you wish, from packing and unpacking, to disconnecting appliances and electronics, but of course theres extra cost involved.

Make sure you understand the terms of your agreement no matter what you decide, as well as any additional costs such as insurance and mileage fees, so you can budget accordingly.

Happy moving!

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

Wayne KarL editOr Wall2Wall Media [email protected]

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

4 New home guide gTA | may 17 - 31, 2014

MAY 17 - 31, 2014 | NEW HOME GUIDE GTA 5

menkes.com

Your Life Storey always comes rst.

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menkes.comFacebook.com/MenkesLife @MenkesLife

menkes.comPrices and speci cations are subject to change. E.&O.E. May 2014.

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MEN 23107 Homes Magazine DPS New Campaign May 2014.indd All Pages 14-05-13 4:08 PM

6

menkes.com

Your Life Storey always comes rst.

2013 Tarion Award of Excellence FinalistFor the last sixty years, Menkes has been a central chapter in the Life Storeys of so many. Menkes has always focused on building

homes in the citys most desirable and accessible locations. Discover elegant family homes in communities across the Greater

Toronto Area that exude this companys trademark character, charm and lasting value. Come home to Menkes today, where

your Life Storey always begins and ends with total customer satisfaction.

menkes.comFacebook.com/MenkesLife @MenkesLife

menkes.comPrices and speci cations are subject to change. E.&O.E. May 2014.

NOW OPEN

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MEN 23107 Homes Magazine DPS New Campaign May 2014.indd All Pages 14-05-13 4:08 PM

7

mattamyhomes.com

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

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Homebuilding is incredibly worthwhile because its central to the lives of so many families. And winning an award because homeowners are happy

with where they live is an incredible bonus.

For an unprecedented 5th time, we have been named GTA Builder of The Year by BILD (Building Industry and Land Development Association).

Thank you to our staff who are fully engaged each and every day. Thank you to our Business Partners who have shared our vision through the years. Thank you to our Trade Partners who roll up their sleeves and with skill and hard work make our superbly crafted homes. Thank you to our community staff who

assist our homeowners everyday. Most of all, thank you to our homeowners who humble us with their generous praise.

They are Homeowners of the Year.

THANK YOUTHANK

Coming Soon, Downsview Park In Toronto. Register TodayTo Find Urban Living In The Heart Of The City.

NH&C_dps_BILD-All Sites_May10.indd 1 5/7/14 2:27 PM

8

mattamyhomes.com

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

Follow us:

AURORA BRAMPTON

KITCHENER OAKVILLE

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

Saturday, Sunday and Holidays 11am-5:30pm

FORESTAU RO R A

St. Johns

Get Connected To Our An Established Community In

Brampton In Our New Release Of Townhomes & Detached Homes.



Sales Centre: 6 Worthington Avenue

A Whole New Phase Of Prestigious Homes Is

Now Open In St. John's Forest.Now Available Never Before

Offered Village Homes & 45' Grand Home Designs.



Sales Centre: 1280 St. John's Sideroad

AURORA

BRAMPTON

OAKVILLE

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PRESERVETHE

Now Open! Live Where You Work In A New Live/Work Freehold Townhome!4 Exquisite Detached Models

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Live/Work TownhomesFrom $699,990

Now Open! A New Release Of Never Before Offered Semis & 34' Detached

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Sales Centre: 10180 Derry Road



A New Release Of Affordable And Stylish Townhomes &

Detached Homes Now Available4 Beautiful Detached Model Homes

Open To Tour!

Sales Centre: 179 Seabrook Drive



KITCHENER

MILTON

Homebuilding is incredibly worthwhile because its central to the lives of so many families. And winning an award because homeowners are happy

with where they live is an incredible bonus.

For an unprecedented 5th time, we have been named GTA Builder of The Year by BILD (Building Industry and Land Development Association).

Thank you to our staff who are fully engaged each and every day. Thank you to our Business Partners who have shared our vision through the years. Thank you to our Trade Partners who roll up their sleeves and with skill and hard work make our superbly crafted homes. Thank you to our community staff who

assist our homeowners everyday. Most of all, thank you to our homeowners who humble us with their generous praise.

They are Homeowners of the Year.

THANK YOUTHANK

Coming Soon, Downsview Park In Toronto. Register TodayTo Find Urban Living In The Heart Of The City.

NH&C_dps_BILD-All Sites_May10.indd 1 5/7/14 2:27 PM

9

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, CGAHenry 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

vIce-pResIDent, WaLL2WaLL MeDIa

Jacqueline HilleDItoR-In-chIef / DIRectoR of content

Susan LeggeDIRectoR of saLes, natIonaL

Josh HeppnersaLes ManageR neW hoMe guIDe gta, neW conDo guIDe, hoMe DcoR & RenovatIons

Conni RobinsonassocIate puBLIsheR, neW hoMe & conDo guIDe sWo, LIfestyLe coMMunItIes

Susan Maxwell aRt DIRectoR

Tammy Leung

eDItoR

Wayne KarlcontRIButIng eDItoRs

Sara Duck, Elisa Krovblit Lydia McNutt

senIoR account executIve

Nina Downs [email protected] senIoR account executIve Dionne Fraser [email protected] & MaRketIng co-oRDInatoR

Terry BassettDIstRIButIon & saLes co-oRDInatoR

Jennifer BistronaDMInIstRatIve assIstant

Antoinette Jackson

pRoDuctIon ManageR

Bala GnanapandithanpRoDuctIon co-oRDInatoR

Sandra Hanak-VujnovicgRaphIc DesIgneRs Mike Terentiev, Caroline Wassef, Hannah Yarkony

natIonaL account ManageR, MeDIatIve

Paul Slizys

#500-401 The West Mall Etobicoke, ON M9C 5J5 T 416.626.4200 F 416.784.5867newhomeguide.ca ADVERTiSiNG Call 416.626.4200 for advertising rates and information. CiRCuLATioN Free distribution in select high-traffic street boxes, stores, banks, financial institutions and select condominium sales offices.CoPYRiGHT 2014 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.TERMS Advertisers, Editorial content 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 editor at [email protected].

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.

taRIon RepoRt

Howard BogacHis President and CEO of Tarion Warranty Corp. His column appears monthly in New Home Guide. For more information about how Tarion helps new-home buyers, visit tarion.com or find us on Facebook at facebook.com/TarionWarrantyCorp.

quIck tIps Hellen BuTTigieg Hellen Buttigieg, CPO, is a Certified Professional Organizer, life coach, TV host and owner of We Organize U. Visit her website, weorganizeu.com, for a free e-Book on how to find more time, energy and inner peace. Contact Hellen at 905.829.2219 or [email protected]

Published By

MoRtgage aDvIce alyssa ricHardis the Founder and CEO of ratehub.ca, a mortgage rate comparison site that aims to empower Canadians to make smart financial decisions.


Hours: Mon-Thurs. 1-8pm, Fridays by appointment, Sat., Sun. & Hol. 11am-6pm.*Specifications are subject to change without notice. E. & O. E. See Sales Representative for details.

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12 NEW HOME GUIDE GTA | MAY 17 - 31, 2014

by bryan tuckey

New numbers tell story of industrys impact on economy

//bild report

Our industry is the GTAs economic engine.

The land development and housing industry creates thousands of jobs every year and helps drive the economy in our region, province and country.

Thanks to a report released by the Canadian Home Builders Association (CHBA), we have the most recent numbers to back up our words. The figures provide estimates of the economic impacts of building and development in the GTA.

There were more than 207,400 jobs across the GTA last year involved in residential and non-residential construction, according to Statistics Canadas labour force survey. The construction figure represents 6.3 per cent of jobs across all sectors in the region, tying the industry high over the last decade.

If youre reading this on a subway or bus, look around you. Chances are that there are people sitting near you who are employed by our industry as lawyers, architects, designers or service providers. Theres also a good chance that people in your family or friends in your social circles are employed by the building and land development industry.

Residential construction generated $9.7 billion in wages, including $5.4 billion in residential renovations alone. That money shows up in purchases made across the entire GTA economy.

These figures show the good work that continues to be accomplished by our industry. Were focused on creating new complete communities and homes and businesses that people can afford out of the vision of the provincial Growth Plan, Places to Grow.

And with 100,000 people and 50,000 jobs coming to the GTA every year, its good to see our industry continues to help fulfil the needs of the regions newcomers.

We always say the GTA needs to be building about 35,000 new homes each year to accommodate the population growth. There were 34,719 housing starts in the GTA during 2013, according to the report.

About 60 per cent of those starts will be condominiums, which are the entry point for new-home buyers, first-time buyers and many new Canadians. And that bodes well for the regions new arrivals who are looking for homes that they can afford to purchase.

The report also provided analysis for the future. It states that emerging factors are bound to affect local markets next year and beyond 2014.

Those factors include: changes in mortgage rates, terms and conditions; higher government-imposed taxes, fees, levies and charges; and shortages of serviced land.

On predictions for 2014, the CHBA report says the local economic benefits of residential construction in most markets across Canada are likely to be similar or slightly lower than what was seen in 2013. It warns that all levels of government must be aware of how their housing-related policies can negatively impact housing affordability and choice, and how the policies can affect economic performance and government revenues.

In other words, the building and development industry is working just fine. It has proven to provide a solid portion of the jobs and wages in the region. Any changes that could affect the economic impact of our industry should be closely scrutinized.

We feel the same way.

bryan tuckey is President and CEO

of the Building Industry and Land Development Association (BILD) and is a land-use planner who has worked for municipal,

regional and provincial governments. He can be

found on Twitter (twitter.com/bildgta), Facebook

(facebook.com/bildgta) and BILDs official online blog

(bildblogs.ca).


16 NEW HOME GUIDE GTA | MAY 17 - 31, 2014

Theres an old joke that Toronto has only two seasons winter and construction. But as anyone travelling the Gardiner Expressway lately (and over the next two years), or along the QEW to or from Hamilton, or any number of other local congestion points, can attest, traffic in the GTA is anything but a laughing matter.

Unfortunately, such is life in the Big Smoke now and for the foreseeable future. Once upon a time, construction season may have been only during the warmer weather months. But those days are over. You can now count on it almost being a 24-7, year-round endeavor.

Indeed, with continuing immigration, general growth and construction expansion all happening at a quicker pace than infrastructure improvements our highways and transit systems are being strained like never before.

Population in the GTA continues to increase by about 100,000 people per year. Research suggests that by 2031, there could be three million more people living in the area bringing with them an additional 1.5 million vehicles. If you think traffic and transit are challenging now, just wait.

This is why the provincial government, in its most recent budget, unveiled a comprehensive 10-year

Infrastructures big boost

//fundamentally speaking

Wayne Karl is an award-winning

writer and editor with experience in real

estate and business. In Fundamentally

Speaking, Wayne explores the basics such as

economic fundamentals you need to examine

when buying property. He can be reached at

[email protected] or follow him on Twitter

at Twitter.com/WayneKarl

by Wayne Karl

economic plan that includes more than $130 billion in infrastructure invest-ments. Two dedicated funds will be created to support infrastructure projects essential to Ontarios economic growth and job creation in: Greater Toronto and Hamilton Area

(GTHA) Improvements to GO Transit rail service and public transit investments to address congestion, support economic development and improve mobility throughout the region, and

Outside the GTHA Investments in roads, bridges, transit and other essential infrastructure across the province, identified in partnership with Ontario regions and communities

Why, you may be wondering, should you care about all this stuff, as a prospective homebuyer?

As several transit and transportation examples in Toronto illustrate, proximity to infrastructure is becoming more important than ever. Access to a variety of amenities and essentials from transit to health care to schools to shopping to recreation is a critical determining factor for builders and buyers alike. It matters for lifestyle and comfort while you live there, as well as for resale potential down the road.

So, stop waiting for construction season to end. While youre out shopping for your new home, look around to see how far you are from the nearest highway or rapid transit system existing or under construction that affords you a reason-able commute; and how close you are to health care, schools, shopping and recreation. These communities will be at a premium, now and in future.


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For directions, hours and community information call our hotline (1-888/416) 410-0175 or visitPrices and specifications correct at press time. Renderings are artist concept. E. & O.E. Prices quoted are in $ thousands except for Kleinburg & Randall pricing.

Current Communities

All photos are actual Rosehaven homes.

BRAMPTON45, 41, 38 & 30 Singles from $514,990

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W oodbridge has long boasted some of the biggest and most beautiful homes in the GTA. Take a drive in the area on a sunny 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 the very best, Vaughan Valley Estates by Fieldgate Homes has clearly emerged as 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 offers the finest luxury lifestyle in Woodbridge. With hundreds of families already happily living in the community, theres never been a better time to experience life at Vaughan Valley Estates. And with two stunning designer model homes currently on sale, the possibilities of life at Vaughan Valley are more amazing than ever.

When designing the community, Fieldgate committed to strict architectural 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.

model home sales event in Woodbridge

//community focus

With two elegantly upgraded model homes currently on sale, now is the time to discover Vaughan Valley

fieldgate homes | Vaughan Valley

Location Woodbridge

Housing type Luxury detached homes Umbria, 3,336 sq. ft., $1.33 million Corvina, 4,354 sq. ft., $1.54 million

saLes centre Open 1 to 8 p.m. Monday to Thursday, 11 a.m. to 6 p.m. weekends and holidays

contact 905.303.4728 vaughanvalleyestates.com


Presentation Centre: 90 Niagara Street Hours: Mon. - Thurs.: 12pm - 7pmSat., Sun. & Hol.: 11am - 6pm. Fridays by appointment.Prices and specifi cations are subject to change without notice. E. & O. E. Rendering is artists concept only.

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90 Niagara o ers the most innovative designs anywhere in downtown Toronto. Boutique condos and 2-storey lofts, with great interiors seguing into fantastic outdoor balconies and terraces. All in a modern and intimate 5-storey building inviting you to live where the city lives. Own it today!

OWN ITNOW OPEN

FIEL-90N-AD-GUIDELINES-APR10.indd 1 4/10/14 2:49 PM

Homeowners can now experience the ultimate in luxurious Vaughan Valley living, with two of the communitys finest luxury model homes now on sale. The four-bedroom, 3,336-sq.-ft. Umbria boasts an impressive selection of elite upgraded features and finishes too numerous to mention. Some of the many highlights in the home include a double-sided gas fireplace in the library and family room, whirlpool tub in the master ensuite, whole-home hardwood flooring and more. The Umbria model home is priced at $1.33 million.

Fieldgate also spared no expense in the four-bedroom, 4,354-sq.-ft. Corvina. Features include a private ensuite and walk-in closet for each bedroom. The master suite includes a gas fireplace, spacious balcony and spa-inspired ensuite. The main floor features a gourmet kitchen with access to a large deck, library, family room, living room and dining room. Also included are all window coverings, built-in appliances and permanent fixtures. The Corvina model home is priced at $1.54 million.

Woodbridges location in Vaughan has always been one of the areas most impressive and appealing attributes. For

Homeowners can now experience the ultimate in luxurious Vaughan Valley living, with two of the communitys finest luxury model homes now on sale.

//community focus...continuedfieldgate homes | Vaughan Valley

years, Vaughan was promoted as the City Above Toronto and it has 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 Conservation 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.

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.

For more information, call Fieldgate Homes at 905.303.4728 or visit the website at vaughanvalleyestates.com


*Limited quantities available in some price ranges to qualified purchasers. Prices & information correct

at press time. Maps not to scale. Some lots may have premiums. E. & O.E. Conditions may apply.

valesof thehumber.com

Queen St.

HWY 407

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Y 42

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eway

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ean

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27

//IN THE NEWS

As part of the review of its mortgage loan insurance business, Canada Mortgage and Housing Corp. is discontinuing its Second Home and Self-Employed Without Third Party Income Validation mortgage insurance products, effective May 30, 2014.

Self-employed Canadians can still qualify for CMHC insured financing through CMHC homeowner products with a validation of their income using traditional methods.

Take noTe of CMHCs CHanges in produCT offerings

self-employed?

CMHC helps Canadians meet their housing needs and contributes to the stability of the housing market and finance system, says Steven Mennill, senior vice-president, insurance. As part of the review of its mortgage loan insurance business, CMHC is evaluating its products and services to ensure they are aligned with these objectives.

As a result of changes to CMHCs mandate to contribute to the stability of the housing market, benefitting all Canadians, while effectively managing and reducing taxpayers exposure to risk, CMHC is undertaking a review of its mortgage loan insurance business. This is the first set of changes resulting from this review.

CMHC Second Home and Self-Employed Without Third Party Income Validation will remain available for new mortgage loan insurance requests submitted to CMHC before May 30, 2014, regardless of the closing date of the home purchase. As is normal practice, complete borrower and property details must be submitted by a lender to CMHC when requesting mortgage loan insurance.

Combined, CMHC Second Home and Self-Employed Without Third Party Income Validation account for less than three per cent of CMHCs insured business volumes in units. Given the limited use of these products, their discontinuation is not expected to have a material impact on the housing market.

CMHC helps Canadians meet their housing needs and contributes to the stability of the

housing market and finance system


7 S P E C T A C U L A R M O D E L ST A K E T H E T O U R T H I S W E E K E N D

Jefferson Forest continues to offer a wide selection of Freehold Townhomes all in an established community beside a 400+ acre nature preserve.

This could be your LAST CHANCE TO MAKE JEFFERSON FOREST YOUR NEW HOME COMMUNITY.

FREEHOLD TOWNHOMES EAST OFF YONGE NORTH OF GAMBLE

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*Prices & specifications are subject to change without notice. Finishes vary by Builder. See sales representatives for details. Renderings are artists concept. E. & O. E.

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FORE-JEF-A-AD-NHC-MAY8-1.indd 1 14-05-08 3:31 PM

E @ D?G>5 C1 D 3 1 B 4 9 > 1 < @ ? 9 > D

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Prices are correct at press time and are subject to change without notice. Speci c features are as per plan and series. Sq.ft. measurements are approximate. Map not to scale. See sales rep for details. The ENERGY STAR mark is administered and promoted in Canada by Natural Resources Canada. Used with permission. E & O E.

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family room, home offi ce or den. And

Rooftop Terraces with BBQ hook-ups

become the ideal summer retreat.

Whatever your style from cutting edge

bold to laid back traditional Uptownes

at Cardinal Point offers interior design

opportunities to suit every lifestyle and taste.

RAILINGUPDDDDDDDDDDDDDDDNNNNNNNNNNNNN

DISH-WASHER

FRENCH DOOR

BALCONY

BAR

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FFFFFFFFFLALALALALALALALALALATTTTTTTTT AAAAAAAAAAFFFFFFFFFFFFFFFFFF RRRRRRRRRCHCHCHCHCHCHCHCHCH

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#"--"/53"& 4506''7*--& 1035)01& 800%450$,

Prices are correct at press time and are subject to change without notice. Speci c features are as per plan and series. Sq.ft. measurements are approximate. Map not to scale. See sales rep for details. The ENERGY STAR mark is administered and promoted in Canada by Natural Resources Canada. Used with permission. E & O E.

BILD 2012 HOME BUILDER OF THE YEARCHBA 2011 GRAND SAM AWARD WINNER

UPTOWNES CONSTRUCTION IS NOW UNDERWAY!

IN STOUFFVILLES PREMIER COMMUNITY!

THE CAREFREE CONDO LIFESTYLE

Oversized windows fi ll your home with plenty of natural light.

Gourmet kitchen is perfect for entertaining with family and friends.

Open-concept Great Room is

ideal for formal and casual gatherings.

A stylish French Door

leads to a wonderful balcony.

CHICAGO SERIESMODEL B1

FABULOUS MAIN FLOOR

D8-1087 NHG DPS B2-Chicago Series-May 3, 2014.indd 1 4/28/14 3:13:12 PM

F or more than 35 years, Great Gulf has been building new home neighbourhoods that meet and exceed the expectations of an increasingly sophisticated and knowledgeable market. Having designed and constructed more than 40,000 top-quality homes, Great Gulf makes the promise to Live Greatly with confidence. Four distinctive communities exemplify the core values upon which every Great Gulf home is built: innovative design, advanced technology and exceptional customer experience

In prestigious King City, King Oaks is a collection of luxury detached homes and bungalows that brilliantly showcase the companys commitment to outstanding design. Although this is a production home community, Great Gulf offers so many upgrade options that customers are astounded at the level of customization they can achieve. Even the largest homes feel intimate because of thoughtful design elements

//cover story

GREAT GULF

A great promise from

32 New home guide gTA | may 17 - 31, 2014 may 17 - 31, 2014 | New home guide gTA 33

GREAT GULF | Corporate

such as a playroom located just off the kitchen so parents can keep an eye on kids while cooking.

Homeowners can Live Greatly in two Brampton communities that demonstrate Great Gulf s topnotch construction quality. Mount Pleasant, located at Bovaird and Creditview, and Westfield, just opened in March, at Mississauga Road and Steeles Avenue. All of the home frames are being built at an indoor facility by Brockport Home Construction, an affiliated Great Gulf company, cutting installation time from two weeks to two days. The work is performed through an automated system that results in perfectly square walls, precise nail placement, and simply, a better built home.

In Bradford West Gwillimbury, more than 800 families are already Living Greatly in Summerlyn Village. Great Gulf has built up this community with homes and amenities that make day-to-day living highly convenient. The neighbourhood has

grown in part through word-of-mouth about the buyers excellent customer experience. This is the Great Gulf community with the highest number of residents who know each other, as well as the highest level of upgrades. Obviously, these buyers trust that Great Gulf is in it for the long run!

To find out how you can Live Greatly in these and other Great Gulf communities, visit greatgulf.com

Great Gulf offers so many upgrade options that customers are astounded at the level of customization they can achieve.


//BUILDER PERSPECTIVES

I am an avid gardener, and as soon as the snow melts, Im itching to get outside and dig! For many people, gardening is a source of enjoyment and relaxation, but it also requires a fair commitment of time and energy each and every year. According to Brenda Luckhardt, business to business marketing and development manager for Sheridan Nurseries, there is a growing trend towards gardening in small outdoor spaces, terraces, balconies and patios. I asked Brenda to share some of Sheridans new products that are designed to meet the needs of those who live in condominiums, townhomes and in homes on small lots.

We are adding compact design styles to our outdoor furniture lines. Chat sets that are suitable for both dining and relaxation, and garden benches that can double as seating for dining, says Luckhardt. Storage is also an issue in small dwellings so we suggest folding and stacking chairs or choosing cast aluminum furniture that can be left outdoors all winter.

Like a homes interior, there are many opportunities to personalize your outdoor space. Luckhardt cites the popularity of table top fountains and area rugs, as well as outdoor lamps, which provide ambience without the investment in permanent landscape lighting. Fire pits are a nice addition to gardens, and fuel burning fire pots and sculptures are a terrific option for balconies and patios.

There are always new products in garden centres at this time of year, and Luckhardt highlights a few that Sheridan is carrying. Edible ornamentals such as BrazelBerries, thornless Raspberry Shortcake, Blueberry and Jelly Bean have all been developed for container growing. Mixing edible herbs with ornamental flowers in one container is also an attractive option. For centuries in French country gardens the practice of Jardin Potager was common, says Luckhardt. Today were seeing a revival of this where vegetables are planted in garden beds for family consumption. For example, planting chard as a border.

In flowering shrubs, Sheridan has plants that are specifically selected for their ease of flowering and compact growth habits. BloomStruck is one such plant that blooms earlier than other big leaf hydrangeas and can easily be grown in a container for one season. She also lists a baby-doll Strawberry Sundae, Pee-Gee Hydrangea, Tiny Wine Physocarpus and Yuki Snowflake Deutzia.

For a real change of scale, create a miniature (or fairy) garden with dwarf conifers, alpine plants, and then include miniature arbours and furniture. These pint-sized gardens are delightful to both children and adults.

In addition to the pleasure and beauty of creating, and maintaining, a homes landscape and gardens, there are also benefits when the time comes to sell your home. In 2009, the Canadian Nursery and Landscape Association (CNLA) commissioned Deloitte & Touche LLP to complete a survey that reported that a well-landscaped property can add 20 per cent to a homes value. It also indicated that a recovery value

GET REaDy foR

outdoor living

of 100 to 200 per cent was realized at selling time. With respect to gardens in smaller spaces, the displays you create will only enhance the appeal of your condominium or townhome-style residence to prospective buyers who will be able to see the potential.

Now that spring has arrived at last, I wish you the very best of the growing season!

This is part of a series of articles on topics of interest to new-home buyers, authored by Sue Webb Smith, marketing director for Geranium Homes.

Edible ornamentals, Jelly Bean shown in container

Early blooming hydrangeas


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WESTFIELD, BRAMPTONNew Release!SUMMERLYN VILLAGE, BRADFORD

Prices and specifications subject to change without notice. E. & O.E. Illustrations are artists concept. All square footages are approximate. Actual usable space varies from stated floor area. Sales office hours: Sat. & Sun. 11am - 6pm Mon. - Thurs. 1 - 8pm Closed Fri.

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//mortgage advice

by alyssa richard

Its unlikely that the first home you buy will be the one you stay in forever. At some point, youll want to sell and buy a new home either to upsize, downsize or move to a new location. And when you find yourself in that situation, theres a good chance youll be relying on the equity from your existing home to help you purchase your next one.

Unfortunately, you could get stuck in a situation where the closing date for your new home is before the closing date of the home youre selling, which leaves your down payment tied up in equity. Mortgage brokers estimate that 20 to 30 per cent of Canadian homeowners find themselves in this situation; if youre one of them, bridge financing is the tool that can help you out of it.

How does a bridge loan work? Well, lets say the closing date for the home youre buying is 40 days before the closing

date for the home youre selling. A bridge loan is simply a loan for the amount of equity you want to take from your existing home that covers you for those 40 days. Bridge loans are automatically repaid when your sale goes through and your equity is put against the mortgage on your new home.

Because bridge financing is so common, all of the big banks offer it to their mortgage customers. (Note that some smaller lenders and credit unions do not.) Most lenders are comfortable lending up to $200,000 for as many as 120 days. If you require a larger loan or an extended period of time, you may need to hire a real estate lawyer, which makes the financing process more expensive, as legal fees will be involved.

Of course, as much as a bridge loan is meant to help you out with your home purchase, it is still subject to interest often at a rate similar to an open mortgage or a personal line of credit (such as Prime plus two or three per cent). The interest rate may seem high, but remember its only charged for a short period of time, before the equity from your first home will be available to repay the loan. Your lender may also charge a flat administration fee in the range of $200 to $500.

To qualify for a bridge loan, all you need is a copy of the Sale Agreement from your existing home and the Purchase Agreement for your new home. Oh, and firm closing dates on both properties without them, you may need to get a bridge loan from a private lender, who will charge you a much higher interest rate than what one of the big banks would. Good luck!

alyssa richard is the Founder and CEO of ratehub.ca, a mortgage

rate comparison site that aims to empower

Canadians to make smart financial decisions.

Bridge financing what is it and how can it help you?

To qualify for a bridge loan, all you need is a copy of the Sale Agreement from your existing home and the Purchase Agreement for your new home.


Q My wife and I would like to purchase a home but the initial down payment is an issue. My mother and uncle are new immigrants to Canada and have approached us to buy a home together. What do you think of buying a home with family members? Tse, Scarborough

A The pride of homeownership is a dream for most Canadians. Unfortunately, this may only be a dream for many and may never become a reality.

Some individuals may have difficulty qualifying for a mortgage, even with the creativity of many financial lenders. Rule number 1: Buy what you can afford, not what you can borrow. Price increases in the Toronto real estate market easily outpace the marginal increases in salaries of the average Toronto household.

Pooling the financial resources of several family members can be an excellent opportunity for first-time buyers to get into a home. Eventually, you can save sufficient equity to have your own dream home. Obviously, this does not come without making sacrifices and concessions. A dream home can quickly become a nightmare, particularly when your mother-in-law may not be your first choice in house mates.

Extended family arrangements are not uncommon for many immigrant families that have three generations under one roof. For some cultures, this is the norm. However, this form of living arrangement is not for everyone. Most couples marry to start a family, not to inherit two generations of families.

//taxing issues

Pooling financial resources by henry choo chong

henry choo chong, CGA, sits on many

committees and provides accounting and tax

services to individuals and businesses in the GTA. He can be reached at

416.485.5225. Questions to Taxing Issues can

be emailed to [email protected] Food for thought that may help you make a decision:

Discuss the financial arrangements with your family member(s) before making a commitment. Are the down payments equal? How will the equity of the home be divided in the event of a sale? Are the mortgage payments divided equally? What about other costs? What happens if one partner wants out? Whose names goes on title?

Does the extended family get along? Family relations can deteriorate faster than an old home with termites! Discuss these arrangements thoroughly with your spouse.

A meeting with a lawyer beforehand can ease tension later. Sometimes, its good to write things down and not have regrets later. Make no mistake, this is a business relationship.

Family financial resource pooling can be very successful for real estate and stock investments. Some of Canadas wealthiest owners of real estate and public companies are family owned. It sometimes pays to keep it all in the family.

Your tax adviser can explain some pros and cons of pooling from a tax perspective. Compare the tax advantages of having extended families under one roof, with the loss of other tax credits and government programs.

How is the credit rating of the other family members? Pooling can help family members with less than excellent credit re-establish themselves.

Family dynamics are an important ingredient when families pool their financial resources. Real estate prices will always rise and fall, but families are priceless.

Buy what you can afford, not what you can borrow.


Sales office located at the S/E corner of Cornell Centre Blvd. 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.

Renderings are artists concept.* Specifi cations are subject to change without notice. E. & O. E. See Sales Representative for details.

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41

//in the news

The home building and land development industry crowned the years top builders, projects and marketing campaigns at the 34th annual BILD Awards held recently.

More than 1,100 industry professionals attended the event, which recognized the GTAs best in 47 distinct categories ranging from ad campaigns to architectural design and community building.

Mattamy Homes was honoured with the prestigious Home Builder of the Year award. This award highlights the builder who sets the standard for the rest of the industry by its leadership in improving the overall image of building and development in the GTA. A key component of the judging process is a customer satisfaction survey, completed by dozens of recent occupants of the builders communities.

This years Green Builder of the Year awards were presented to TAS and Empire Communities. This award recognizes the builder who demonstrates outstanding leadership in the implementation of Green building practices from the site planning stage right through home design and construction.

Building industry celebrates quality and excellence at annual awards presentation

hoMe builder oF the year, Mattamy Homes Green builder oF the year Lowrise, Empire Communities


p2G coMMunity oF the year Highrise, Dundee Kilmer, Canary Park Munge Leung, Montana Steele Advertising, The Communications Group, Baker Real Estate Inc.

p2G coMMunity oF the year Lowrise, Geranium Homes, The Neighbourhoods of Cardinal Point RN Design, Builder Insight Group, SCS Consulting Group, The Morrison Group

In the highrise category, TAS received top honours for its commitment to sustainability. The company has made a commitment to designing and building to a LEED Silver standard for all of its future projects.

Empire Communities received the Green Builder of the Year award in the lowrise category. The company is Ontarios leading Energy Star builder with some of the most progressive green initiatives and user-friendly educational programs in the industry.

In a special presentation, Greenpark Homes Chairman and CEO Carlo Baldassarra was honoured with the prestigious Lifetime Achievement Award. This recognition is the Associations highest honour and was presented as a tribute to Baldassarras contribution to the building and development industry for more than four decades.

It is a privilege to present Carlo with this prestigious award, says BILD President and CEO Bryan Tuckey. He is an industry champion who has given so much to our association and to communities throughout the GTA.

Yonge+Rich by Great Gulf Homes was deemed the years best highrise project, while Urban Towns at Bayview by Treasure Hill Home Corp. was selected in the lowrise category.

For a complete list of award recipients, visit bildawards.com


//in the news

riley brethour award, David Klugsberg, L.A. Inc. stephen dupuis coMMunity buildinG award, Peter Gilgan, Mattamy Homes

liFetiMe achieVeMent award, Carlo Baldassarra, Greenpark Homes best direct Mail Lowrise, Minto Communities, Minto Longbranch Montana Steele Advertising

peoples choice award, Arista Homes, Fieldgate Homes, Paradise Homes, Impressions Of Kleinburg Guidelines Advertising, Hunt Design Associates, G. Ryan Design International, VA3 Design

proJect oF the year Lowrise, Treasure Hill Home Corp., Urban Towns at Bayview Cecconi Simone, Richard Wengle Architect


best brochure Lowrise, Minto Communities, Minto Longbranch Montana Steele Advertising best proJect loGo Lowrise, Minto Communities, Orchard Park PM Design+Marketing

best proJect siGnaGe Lowrise, Aspen Ridge Homes, Corporate The Brand Factory best proJect renderinG Lowrise, Cosmopolitan Homes, Vintner Estates Builder Insight Group

best e-Mail MarKetinG piece Lowrise, Geranium Homes, Corporate Builder Insight Group best print ad Lowrise, National Homes, Corporate


...continued on pg 48

//in the news

best Video Lowrise, Brookfield Residential, Corporate BAM Builder Advertising & Marketing Inc. best social Media caMpaiGn Lowrise, Geranium Homes, Corporate Builder Insight Group

best website Lowrise, Minto Communities, Minto Longbranch Montana Steele Advertising best lowrise sales oFFice Treasure Hill Home Corp., Urban Towns at Bayview Cecconi Simone, Richard Wengle Architect

best new hoMe desiGn seMi or townhoMe under 1,500 square feet, Paradise Homes, Impressions Of Kleinburg - The Astoria Dayluxe Gallery, G. Ryan Design International, Hunt Design Associates

best new hoMe desiGn seMi or townhoMe over 1,500 square feet, Royal Oakville Club - Rosecliff Guidelines Advertising, Hunt Design Associates


REGISTER NOW: Heathwood.comPrices and specifications are subject to change without notice. E. & O. E. Renderings is artists concept.

*Available to qualified buyers only - See sales representative for details. Subject to change without notice.

SALES OFFICE

SILVERWOOD AVE.

YORK

LAN

D S

T.

RICHMOND HILL

Just steps from Yonge Street

in the heart of Richmond Hill

this beautiful collection of Urban Towns

is just what you have been looking for.

Fabulous modern designs with 3 bedrooms,

and all the luxury features you are looking

for in a home. Construction is starting,

and you can move in early next year!

Check out our webs

ite for details

Sales Office Hours:

Mon. to Thurs.: 1pm 8pm, Friday: 12pm 6pm,

Sat., Sun. & Hol.: 11am 6pm

416-637-3520

AT HEATHWOOD HOMES, YOU WILL BE

Home At Last

EXCLUSIVE ENCLAVE OF LUXURIOUS SINGLE FAMILY HOMES

Forest Hill will be Heathwoods most luxurious community. Nestled into an enclave just off of Yonge Street, with its own park and acres of green space, the 43 and 50 homes at Forest Hill will set a new standard in luxurious living. Register now for your exclusive preview opportunity!

SINGLES, SEMIS & TOWNHOMES ON MISSISSAUGA ROAD

COMING SOON TO MISSISSAUGA RD. & STEELES COMING THIS SUMMER TO RICHMOND HILL

An incredible new master planned community. Register now for the best selection of the most innovative

home designs at pre-construction prices!

Starting from $464,900

The Southhampton - 3 bedroom. Artists concept.

HEAT-MUL-A-AD-NHC-MAY8-1.indd 1 14-05-12 9:24 AM

47

//in the news...continued

best new hoMe desiGn sinGle, under 2,500 square feet, Aspen Ridge Homes, Mayfield Village - The Haines Dayluxe Gallery, Suriano Design Consultants, The Brand Factory

best new hoMe desiGn sinGle, 2,500 - 4,000 square feet, Great Gulf Homes, Rolling Meadows Active House Builder Insight Group

best new hoMe desiGn sinGle, over 4,000 square feet Genview Homes, Kingsview Manors - The Buckingham Dayluxe Gallery, Hunt Design Associates

best Model hoMe, Castel Homes, Allure At The Gates Of Aurora Blackjet Inc., Lancier Marketing And Design, RN Design

best suite desiGn Over 1,500 square feet, Rosehaven Homes, The Randall Residences best salesperson or teaM Lowrise, Geranium Homes Lisa Peltier


MAY 17 - 31, 2014 | NEW HOME GUIDE GTA 49MAY 17 - 31, 2014 | NEW HOME GUIDE GTA 49

Whether you are a young couple or individual purchasing a new home for the first time, a resale buyer moving in the market or an empty nester purchasing a retirement condominium, the very action of this significant invest-ment in real estate represents a major life change.

There are a number of issues that you should consider at this time in order to ensure that your house is in order.

1. How will i Hold tHe title?When your lawyer goes to the Registry Office to hand over all of your money to the builder in order to buy your home, he receives, in return, a document called a deed or transfer, which he registers by filing with the government; the document has your name is on it to show you own the home. This action gives you title to the property. If more than one person is buying the property it is necessary to decide how they will hold title together.

There are two ways people can hold title together. The first is generally the way we hold title with our spouses or children, which is called joint tenancy. To hold title as joint tenants really means that upon the death of one of the parties, the remaining party automatically becomes the owner of the whole property without having to inherit it or have it pass through an estate. The reason is simply that all owners on title own the whole property rather than a part each. The other way title can be held is as tenants in common. This means that each party only owns the percentage allocated to them, although the physical part owned is not described. Upon the death of a tenant in common, his or her percentage ownership goes to their heirs in accordance with their will or law. Therefore, remember to discuss this issue when you go to see your lawyer.

2. wHat about a will? a power of attorney?Do you have a will? If you do, is it up to date and does it represent your current situation or state of affairs? It is important, especially if you have young children, to have your wills completed; not so much for the money, but for a clear resolution of the issue of custody if something happens to both parents. A will stops sibling disputes, takes care of who will look after children, keeps the government out of your affairs, allows for an orderly disposition of everything from your favourite cuff links or earrings to your realty, stocks and bonds, and will allow you to determine how you are to be cremated, buried or quick frozen. A power of attorney is used when you are physically or mentally incapacitated there are

two kinds. The first is for your body, such as what care will you or will you not receive? Your representative will determine that. The other is for the management of your financial affairs.Now is the time to create a will. Speak to your lawyer and ensure that this important matter is dealt with.

3. wHat about insurance?You will need insurance for the house. This a great time to look at life and disability insurance. It is also a good time to determine if you should be insuring your mortgage in case something happens to the major wage earner; and to ensure that the future is taken care of.So there you have it, this is the time to take care of all of these kinds of things to get your house in order.

Perhaps the most difficult part of writing these articles relates not the actual writing, but thinking of a topic to address. Visit schwarzlaw.ca, or email [email protected] with your questions, concerns, critiques and quandaries.

//legally speaking

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, mail, deliver or fax letters

to the magazine or to the firm, email

([email protected]) and give us your

questions, concerns, critiques and quandaries.

by Jayson schwarz

getting yourhouse in order


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

BUYING, SELLING OR REFINANCING

A HOME?YOU NEED A LAWYER

For Free Offer ReviewCall

TORONTO OFFICE1984 Yonge St.,Toronto

Ontario M4S 1Z7

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BRAMPTON OFFICE10 Wilkinson Rd. Unit 22., Brampton, Ontario L6T 5B1

905.455.5777Toll Free: 1.888.609.8888

Fax 905.452.8135

*ONE SIMPLE WILL FREE WITH YOUR REAL ESTATE

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May 17 to 31

May 17-18

Game of Thrones: The Exhibition tiff bell lightboxWith the show once again commencing on HBO, fans of the popular fantasy series will have the opportunity to get a close look at nearly 100 different items from the production. Costumes, weaponry, storyboards, and many other items from the first three seasons will be on display, and there will even be a few from the fourth season of Game of Thrones. After the success from last years exhibition, this is another chance for anyone interested in seeing relics taken from Westeros.

themovienetwork.ca

May 17-24

Don Quichotte four seasons centre for the perforMing artsMiguel de Cervantes classic book Don Quixote, one of the first great novels, has been a deep influence on Western culture since its publication in the 17th century. The Canadian Opera Company finishes its 2013-14 season with French composer Jules Massenets take on the story, his 1904 opera Don Quichotte. Starring Don Quichotte bass superstar Ferruccio Furlanetto as Cervantes hero, a Spanish hidalgo who decides to revive the medieval notion of chivalry as a knight.

coc.ca

Calendar of events beginning from

May 17 to 31, 2014

May 17-19

Toronto International Circus Festival harbourfront centreVictoria Day is here again, and a great way to keep your kids happy over the long weekend is with some old-fashioned circus entertainment at Harbourfront Centre. HarbourKIDS is putting on the Toronto International Circus Festival, a free, three-day showcase of acrobats, daredevils, buskers and more, aimed at children under 12. Performances include Zero Gravity Circus Bollywood, a dance and acrobatic show with Bollywood inspiration and Sweet Variety of Circus, a variety show of clowns, jugglers and more; and The Circus Academys Toy Box.

harbourfrontcentre.com

//hot dates


IN THIS SECTION

>> Maps and listings for new-home communities in the central and north region>> Builder news and the latest in new homes in the central and north region

Showcasing new homes in the GTAs central and north regions

May 17 - 31, 2014

//YOUR FIRST HOME

If youre a first-time homebuyer, get pre-approved for a mortgage. This is the central message from a new report from BMO Bank of Montreal.

The report shows that for first-time homebuyers that were pre-approved for a mortgage, an overwhelming number of respondents (94 per cent) say they found themselves to be in a much better position to start looking for a home, and had a good sense of what they could afford.

The poll also revealed that the majority of Canadians (92 per cent) currently looking to buy their first home plan to get pre-approved.

Seven out of 10 first-time homebuyers say when they walk into a home, they know right away if its the right house for them, says Laura Parsons, mortgage expert, BMO Bank of Montreal. Being pre-approved for a mortgage and knowing you have a mortgage with a guaranteed interest rate for a certain period of time while you are looking could mean the difference between landing your dream home, and settling for second best.

94 per cent of homebuyers say getting pre-approved reduced stress of looking for a home

the psychology of mortgage pre-approval

The report also showed the following for those that had gone through the pre-approval process: 59 per cent feel the pre-approval process

was stressful Almost half (48 per cent) were worried

they wouldnt be pre-approved However, after going through the

pre-approval process, more than 87 per cent of respondents said it was simple; and

Three-quarters (79 per cent) said it gave them the freedom to look at homes without having to worry about financing

We want to provide advice to first-time homebuyers well in advance of their purchase in order to guide them to their potential, reduce outside debt and get used to the costs of owning a home with a down payment savings plan, says Parsons. Thinking about the pre-approval process often brings out feelings of stress, often because of a misunderstanding of the process. With the right support and guidance from a financial advisor, stress can be significantly reduced and buyers are free to focus on choosing their perfect house.

BMO offers a number of products and services that can help first-time home buyers make a responsible home buying decision. For example, the BMO Home Buyers Guide provides advice and information designed to guide buyers through the process of financing, choosing and purchasing a new home.

For more information, visit bmo.com


starting from

$359,990

TOWNHOMES $279,990Starting fromMyJubilee.ca

SUTTON

SALES OFFICE:4950 Baseline Road,Sutton, ON, LOE 1RO

1.877.455.0201Prices and speci cations are subject to

change without notice. E. & O.E.

With a population of 5,000, Sutton is a closely knit community and part of the Town of Georgina. The town of

Keswick is just a 10-minute drive where youll nd big box retailers such as Wal-Mart, Home Hardware, Food Basics,

Fresh Co. and other retailers to satisfy all your shopping needs. Its all just minutes from Highway 48, and minutes

from the new 404 extension at Ravenshoe Rd., with Toronto less than 40 minutes to the south.

$389,990ITS ALL ABOUT FINDING THE RIGHT BALANCE

AND A PLACE TO LOVE

FANTASTIC LOCATION& UNBELIEVABLE VALUE

IN SUTTON

ft. Lotsstarting from

40ft. Lots36

All renderings are artist concepts.

36 ' Windsor Gate Elevation A 40' Windsor Hall Elevation B

BALL-JUB-A-AD-NHC-APR8-1.indd 1 14-04-09 9:44 AM

//IN THE NEWS

Located in one of the Greater Toronto Areas trendiest neighbourhoods, Upper West Side in Thornhill Estates is a collaborative effort with Aspen Ridge, Conservatory Group, Countrywide Homes, Regal Crest Homes and Townwood Homes.

The community is on the northwest corner of Bathurst Street and Major Mackenzie Drive in the City of Vaughan, in the midst of pine forests with winding creeks and trails, and the lush ravines of the Don River. Stately estate homes will sit on 41- and 50-ft. conservation and greenbelt lots adjacent to acres of protected land and a natural community pond. Throughout the area, park benches are strategically placed at ravine overlooks for the enjoyment of residents and visitors.

Offering the best of both worlds, Upper West Side is also conveniently close to a wealth of amenities. Families will be able to walk to schools, parks and playgrounds, and the variety of major shops and services nearby is extensive. The area is a major centre for well-living, with numerous salons and spas, health food stores, yoga centres and recreation facilities available within blocks. The area abounds with shopping plazas and centres such as Rutherford Marketplace on Bathurst, the Promenade south of Centre Street, and the expansive Vaughan Mills shopping complex at Hwy. 400 and Rutherford Road. Vaughan Mills is home to hundreds of shops and services, as well as Legoland Development Centre, Bass

Location a reveLation at

Upper West Side in thornhill estates

Pro Shops Outdoor World and a roadside picnic food court. For eating out, local residents can choose anything from fast food to fine dining and ethnic cuisine.

In addition to public and Catholic schools, there is an array of private schools in the area, including the Toronto Waldorf School on Bathurst, The Country Day School on Dufferin, Ner Israel Yeshiva College on Bathurst, King Heights Academy in Woodbridge, Netivot HaTorah Day School on Atkinson Avenue, the Russian education centre Roots Education on Rutherford Road, and Next Page Education facilities on Yonge. The Lebovic Jewish Community Campus is also minutes away. World-class Eagles Nest Golf Course is just a few km west on Major Mackenzie and a wide variety of private courses are close by including Maple Downs Golf Course, Summit Golf and Country Club, Thornhill Golf and Country Club, Richmond Hill Golf and Country Club and Uplands Golf & Ski Club. York Central Hospital is just a few km to the east. Access to Hwys. 400, 407 and GO stations is easy as well.

The builders of Upper West Side offer classic single-family residences on private streets and cul-de-sacs branching off of a single thoroughfare for the kind of exclusivity offered in Torontos Forest Hill and Rosedale to the south. Prices will begin from about $1 million. To find out more about this exciting community, register at uwscommunity.com

Throughout the area, park benches are strat

Documents

GTA New Home Guide - May 17, 2014