gta new home guide - feb 21, 2015

Crowning Glories.New Release at Kleinburg Crown Estates

Feb 21 - Mar 7, 2015 Volume 23 Issue 04

INSIDE THIS ISSUE

POINTS TO CONSIDER BEFOREGETTING A MORTGAGE

PLANNING YOUR NEW HOME BEFORE YOU BUY

HOW NEW HOMES EXCEL AT ENERGY EFFICIENCY

ASPIRE to loving your homein brampton

fold

6.875" x 10.5" OGFfold

aspenridgehomes.com

aspen ridge homes. prices and specifications are subject to change. See sales representative for details. all rights reserved. e.&o.e. February 2015.

ASPIREto loving

yourCommunity.

great care has been taken to preserve the natural features of the area. a naturalized water channel is the centrepiece of the community. in addition, six new local parks will offer playground space and playing fields for active families.

PRESENTATION CENTRE NOW OPEN4575 Mayfield Road, Brampton

Towns from the $340sSemis from the $490s | Singles from the $650s

905.230.2592 | aspenridgehomes.comAspire to great design.

NOW OPENBRADFORD Dream elds Presentation Centre & 2 Model Homes 905.551.1631

BRAMPTON Credit Manor HeightsPresentation Centre & Model Home 905.216.5155

BRAMPTONMay eld VillagePresentation Centre 905.230.2592

KLEINBURGKleinburg HillsPresentation Centre & 2 Model Homes 905.552.0678

NEWMARKETWoodland HillsPresentation Centre 416.270.9484

NOBLETON King Country EstatesPresentation Centre & 2 Model Homes 905.558.0255

RICHMOND HILLKettle Lakes ClubPresentation Centre & 4 Model Homes 289.234.1064

VAUGHANUpper West Side (Open Weekends Only)Presentation Centre & 2 Model Homes 289.553.5633

WATERDOWNWaterdown MeadowsPresentation Centre905.690.2224

MORE INFO ATaspenridgehomes.com

COMING SOONKESWICKSimcoe Landing

MARKHAMUnion

QUEENSVILLEQueensville

VAUGHANChelsea

REGISTER ATaspenridgehomes.com

ASPIRE to being CloSerto everything.Mayfield Village is Aspen Ridges newest and brightest addition to brampton. in this master-planned community inviting streetscapes create a modern look while still retaining the charm of the areas small-town past. this pedestrian-oriented community has a decidedly urban feel and every home is within walking distance of brampton transit service.

Now Open!

visit the presentation Centre east of Dixie rd. on may eld rd., brampton.

aspenridgehomes.com

6.875 x 10.5 IGF 7.25 x 10.5 IFC 7.5 x 10.5fold

contentsFEBRUARY 21 MARCH 7, 2015 || VOLUME 23 ISSUE 4

community focus features24 Caledon

Fieldgate Homes Move-in Soon Sales Event at Lotus Pointe in Caledon

32 Corporate Arista Homes 20 years of building homes, communities and relationships

36 Markham Madison Homes Final release of detached homes in Greensborough

74 Multi-Site Rosehaven Homes, Carefree and affordable condominium townhome living

ON THE COVER

p. 28MONARCH

Stunning models the jewels of Kleinburg Crown Estates



INSIDE THIS ISSUE




regular and special featuresIN EVERY ISSUE

4 Editors Note 10 Contributors 50 Hot Dates 102 Ad Index

COLUMNISTS

14 BILD Report New homes today excel at energy efficiency by Bryan Tuckey

18 Fundamentally Speaking What the Bank of Canadas rate cut means for buyers by Wayne Karl

contentsFEBRUARY 21 MARCH 7, 2015 || VOLUME 23 ISSUE 4

community focus features24 Caledon

Fieldgate Homes Move-in Soon Sales Event at Lotus Pointe in Caledon

32 Corporate Arista Homes 20 years of building homes, communities and relationships

36 Markham Madison Homes Final release of detached homes in Greensborough

74 Multi-Site Rosehaven Homes, Carefree and affordable condominium townhome living

ON THE COVER

p. 28MONARCH

Stunning models the jewels of Kleinburg Crown Estates



INSIDE THIS ISSUE




regular and special featuresIN EVERY ISSUE

4 Editors Note 10 Contributors 50 Hot Dates 102 Ad Index

COLUMNISTS

14 BILD Report New homes today excel at energy efficiency by Bryan Tuckey

18 Fundamentally Speaking What the Bank of Canadas rate cut means for buyers by Wayne Karl

36

32

74

20 Taxing IssuesPooling financial resources by Henry Choo Chong

30 Mortgage AdviceWhat to consider before getting a mortgage this yearby Alyssa Richard

46 Home Sweet HomeWelcome to the worlds most livable city by Lydia McNutt

48 Legally SpeakingWhen buying your first home, do your due diligence by Jayson Schwarz

52 Money MattersRRSPs: theyre not just for retirement anymore by Gail Vaz-Oxlade

88 Design SecretsWhat the pros say you should do before moving in by Jane Lockhart

HOMEBUYERS HELP

40 Tax Time Tips Tips to ease the pain of this big-ticket purchase

95 Resource Section Mortgage Calculator and Rate Table

99 GTA Hot SheetTwo pages of new openings, new releases and preview registrations

IN THE NEWS

34 Housing Starts Ontario starts to rise this year, dip slightly in 2016

44 Mattamy Homes EnerQuality recognizes Peter Gilgan with Hall of Fame Award

58 Property Taxes Toronto homeowners prepare for property tax increase

72 Building Code Industry discusses six-storey wood structures at forum

4 NEW HOME GUIDE GTA | FEB 21 - MAR 7, 2015 FEB 21 - MAR 7, 2015 | NEW HOME GUIDE GTA 5

Were deep in a February freeze a period we often associate with blahs, but also a month worth celebrating, given that its the shortest of the year, and March and spring soon follow. And while the deadline for 2014 Registered Retirement Savings Plan contributions isnt until March 2, and April 30 for filing your 2014 income tax return, perhaps we need to start thinking of February in a different light altogether.

Indeed, in our Tax Time Tips content this issue, the idea was to explore this topic in advance of ling

deadlines, to help readers learn about opportunities to take advantage of while they still can.

But, heeding the advice of experts, perhaps tax time should instead be a year-round task. From making regular RRSP contributions to comparing RRSPs and tax-free savings accounts to learning of the various credits available, tax planning for some is as necessary as the inevitable taxes themselves.

Preparing as best you can throughout the year might help minimize the sting come deadline time and help you learn to embrace the opportunities to save, not just fear what you have to pay.

Tax time embrace itPreparing for this unsavoury topic earlier helps reduce the sting at deadline time

Three simple steps to successConsider these pointers before heading out on your search

S hopping for a home online is a great way to narrow your search, but theres nothing like visiting the sites, models and sales o ces to get down to the nitty-gritty. Before you venture out, here are some pointers:

First, be clear about what you want and expect in a new home and in your builder.

Remember, the range of prices in the new-home market generally re ects di erences in location, features and home styles. eres no magic involved. If a builders pricing seems out of whack with others in the area, ask for an explanation. Higher prices could mean better quality materials, nishings, features and service. Make sure that

the price you are paying will deliver the quality you want.

Second, understand exactly what is included with the home you are buying and what is optional. Ask the sales representative to show you samples, and request a spec sheet that clearly lists what is included, as well as any upgrade options.

ird, evaluate any promises that have been made during your visit. Is the builder prepared to put them in writing? Hearsay comments should not be included as part of your evaluation process. Sit down with your sales representative, ask questions and discuss your Agreement of Purchase and Sale in detail then take it to a lawyer before its nalized.

//EDITORS NOTE

WAYNE KARL EDITOR Wall2Wall [email protected]

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

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

menkes.com

Your Life Storey always comes rst.For 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. January 2015.

NEW RELEASE

Burnhamthorpe Rd. & West MallEtobicoke

Starting from the low $400s 416.259.2525

UNDER CONSTRUCTION

Bathurst St. & Finch Ave.North York

Starting from the high $600s 416.730.1600

NEW RELEASE

Browns Line & Evans Ave.Etobicoke

Starting from the mid $500s 416.259.2525

NEW RELEASE

Guelph St. & MacFarlane Dr.Georgetown

Starting from the mid $700s 289.891.9103

Attractive Homes, Great Neighbours, Yours Now In Mount Pleasant North.Welcome To Family Living In A Variety Of Affordable Towns And Detached Designs.

AN AFFORDABLE VARIETY OF HOME OPTIONS ARE YOURS IN BRAMPTON.

The Indigo Model Home In Wildflowers, Kitchener

FOR MORE INFORMATION ON OUR COMMUNITIES REGISTER AT MATTAMYHOMES.COM

Follow us:

All illustrations are artists concept. All dimensions are approximate. Prices, specifications, terms and conditions subject to change without notice. E.&O.E.SALES CENTRE HOURS: Monday - Thursday 1 pm - 8 pm; Friday 1 pm - 6 pm; Saturday, Sunday and Holidays 11 am - 6 pm

38' Home, Plan 5, Elev. C', 2,584 Sq.Ft., $556,990

Rear Lane Townhome, The Ridgeway, Elev. C, 1,925 Sq.Ft., $372,990

Elev. C

BRAMPTONTownhomes From $340,990

Detached Homes From $422,990

Public & GO Transit Right In The Community

Central Village Square With Reflecting Pool In Summer & Ice Rink In Winter

Convenient Shopping Right In The Neighbourhood

Easy Access To Major Highways

State Of The Art Recreational Facilities Attached To The Community

Homes To Fit Any Size Family

MATGTA - MPN - New Homes and Condos - Magazine DPS Due: 11/02/15

File Name: MATGTA-MPN_NH&C_DPS_Mag Publication: New Homes and Condos

Trim: 7.5" x 10.5" Safety/V.O.: .25 DPI: 300

Bleed: .125 Colours: CMYK Built: 10/02/2015 KG

MATGTA-MPN_NH&C_DPS_Mag.indd All Pages 2015-02-11 12:44 PM

8 NEW HOME GUIDE GTA | FEB 21 - MAR 7, 2015

Attractive Homes, Great Neighbours, Yours Now In Mount Pleasant North.Welcome To Family Living In A Variety Of Affordable Towns And Detached Designs.

AN AFFORDABLE VARIETY OF HOME OPTIONS ARE YOURS IN BRAMPTON.

The Indigo Model Home In Wildflowers, Kitchener

FOR MORE INFORMATION ON OUR COMMUNITIES REGISTER AT MATTAMYHOMES.COM

Follow us:

All illustrations are artists concept. All dimensions are approximate. Prices, specifications, terms and conditions subject to change without notice. E.&O.E.SALES CENTRE HOURS: Monday - Thursday 1 pm - 8 pm; Friday 1 pm - 6 pm; Saturday, Sunday and Holidays 11 am - 6 pm

38' Home, Plan 5, Elev. C', 2,584 Sq.Ft., $556,990

Rear Lane Townhome, The Ridgeway, Elev. C, 1,925 Sq.Ft., $372,990

Elev. C

BRAMPTONTownhomes From $340,990

Detached Homes From $422,990

Public & GO Transit Right In The Community

Central Village Square With Reflecting Pool In Summer & Ice Rink In Winter

Convenient Shopping Right In The Neighbourhood

Easy Access To Major Highways

State Of The Art Recreational Facilities Attached To The Community

Homes To Fit Any Size Family

MATGTA - MPN - New Homes and Condos - Magazine DPS Due: 11/02/15

File Name: MATGTA-MPN_NH&C_DPS_Mag Publication: New Homes and Condos

Trim: 7.5" x 10.5" Safety/V.O.: .25 DPI: 300

Bleed: .125 Colours: CMYK Built: 10/02/2015 KG

MATGTA-MPN_NH&C_DPS_Mag.indd All Pages 2015-02-11 12:44 PM


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

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 Viosa Barileva, Mike Terentiev

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 2015 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.

DESIGN SECRETS

JANE LOCKHARTis Founder and Principal Designer of Jane Lockhart Interior Design in Toronto. She can be reached at 416.762.2493. janelockhart.com

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

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.

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 & Holidays from 11 a.m. to 6 p.m.

Renderings are artists concept. Prices and specifi cations are subject to change without notice. See sales representatives for details. E & O.E.

cornellrouge.com 905.472.9556

Markham

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assionOur

H O M E S Consider Yourself at Home PrimontHomes.com

SALES OFFICE HOURS: MON-THURS 1PM - 8PM FRI CLOSED SAT, SUN & HOL 11 AM - 6 PM

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PRIM 38435 NHG FEB 11_FA.indd All Pages 15-02-11 10:35 AM

12 NEW HOME GUIDE GTA | FEB 21 - MAR 7, 2015

assionOur

H O M E S Consider Yourself at Home PrimontHomes.com

SALES OFFICE HOURS: MON-THURS 1PM - 8PM FRI CLOSED SAT, SUN & HOL 11 AM - 6 PM

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Minutes to GO Transit Acres of lush parks and greenspace Steps to planned Osmington Mall Charming Mount Pleasant Village nearby Shopping, dining, leisure and more!

PRIM 38435 NHG FEB 11_FA.indd All Pages 15-02-11 10:35 AM

FEB 21 - MAR 7, 2015 | NEW HOME GUIDE GTA 13


//BILD REPORT

by BRYAN TUCKEY

BRYAN TUCKEY is president and CEO of the Building Industry and Land Development

Association and a land-use planner who has worked for municipal, regional and provincial governments. Follow him on Twitter @bildgta, facebook.com/bildgta, and bildblogs.ca.

How new homes today excel at energy efficiency

Its that time of year when everyones suffering from the February blahs. The winter weather is getting tiresome and people are itching to get outside without bundling up.

In our industry, the professionals who specialize in making your home more energy efficient would also say that its the time of year when people are often shocked by their heating bills.

So I went to a few of our experts to ask about three things homeowners can do to improve the energy efficiency of their home and not just in the wintertime, but all year long.

The first suggestion is to seal holes, cracks and seams in your home. Air leakage through a homes exterior can be a major source of energy and heat loss and you can easily seal window and door frames with caulking. For a more vigorous inspection, you can hire a qualified technician to do an energy assessment, or a blower door test.

Interestingly, if all of the holes, cracks and seams in the typical home built in 1975 were brought together, they would add up to 350 sq. in. or a round hole more than 21 in. in diameter. In the same home built to the 2012 Ontario Building Code, the air leakage area would be reduced by more than two-thirds. This speaks volumes. We are building quality homes that meet the strictest of standards.

The second suggestion is to replace outdated furnaces, appliances and windows. Todays building products and equipment deliver vastly improved energy efficiency, especially those with an Energy Star symbol identifying certified products that meet strict technical specifications for energy performance.

The third energy saving strategy can be applied in a lowrise or a highrise home, because in highrise homes, water consumption is how homeowners can really make a difference. Replacing showerheads and faucets, which are the second and third largest water-using fixtures, can reduce water and energy consumption.

Showerheads account for 17 to 22 per cent and faucets account for 10 to 15 per cent of total indoor water use, according to a recent study by the Canada Mortgage and Housing Corp. Installing low flow showerheads and faucet aerators could save about 12,000 litres of water per person annually, the study found.

Its important to remember that every home is different, and the cost-effective energy-saving potential will vary by house type, age, condition and the climate but even doing something small can make a big improvement in the comfort and efficiency of your home.

Greenhouse gas emissions

From 1990 to 2010, the number of homes in Canada grew by over 35%. Due to constant improvement in the energy efficiency of both existing and newly-built homes, total greenhouse gas emissions from all homes fell by 6% over the same period. 1990 2010

6%

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Niagara-on-the-Lake


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The Bank of Canada made a surprise move recently by announcing a rate cut to its overnight rate by one-quar-ter of one percentage point to 0.75 per cent. Most economists expected the Bank, if anything, to increase the rate, which had sat at one per cent since September 2010. Instead, it lowered the rate in response to the recent sharp drop in oil prices, which is acting as a drag on economic growth.

What the Bank of Canada is essentially telling us is that they are more concerned about the global demand for oil and the economic implications for the country, than they are about the elevated housing prices to them, housing value is essentially the lesser of two evils, Calum Ross, mortgage broker, told New Home Guide.

What consumers need to realize is that any time interest rates go down, real asset prices go up (especially real estate). Its always important to keep in mind people buy payment, not house prices. What we are seeing right now is that the bond markets the Government of Canada bond markets, more speci cally which is what interest rate mortgages are

priced o of, have had a signi cant three-day slide.

e question then became whether Canadas major banks would follow suit with their own mortgage rate cuts and some did in the days following. e BoCs action supports the continuation of ultra-low mortgage rates, when many experts expected rates to inch up with this latest announcement.

Variable-rate mortgages are determined by the prime interest rate, which is linked to the BoCs overnight rate. is time, the major banks seem to be weighing overall economic health, as well as competitive factors, more so than usual before dropping their rates.

BoC is now forecasting real GDP growth will slow to about 1.5 per cent in the rst half of 2015, before Canadas economy gradually strengthens in the second half of the year. e bank is projecting real GDP growth will average 2.1 per cent in 2015 and 2.4 per cent in 2016.

e economy is expected to return to full capacity around the end of 2016.

Although there is considerable uncertainty around the outlook, the Bank is projecting the negative impact of lower oil prices will gradually be mitigated by a stronger U.S. economy, a weaker Canadian dollar, and the Banks monetary policy response.

e oil price shock is occurring against a backdrop of solid and more broadly-based growth in Canada in recent quarters, BoC says.

Outside the energy sector, we are beginning to see the anticipated sequence of increased foreign demand, stronger exports, improved business con dence and investment and employment growth.

e Banks next rate announcement is March 4.

by WAYNE KARL

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

//FUNDAMENTALLY SPEAKING

What the Bank of CanadasRECENT RATE CUT MEANS FOR HOMEBUYERS

TOWNHOMES LUXURY SINGLES SINGLES

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Presentation Centre24 Briggs Ave.

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PRESENTATION CENTRE: MON-THURS 1PM-8PM SAT, SUN & HOLIDAYS 11AM-6PM | MODEL HOME: SAT & SUN 11AM-6PM

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Lot. Lic. #: 7060 FEB 21 - MAR 7, 2015 | NEW HOME GUIDE GTA 19

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.

20 NEW HOME GUIDE GTA | JAN 24 - FEB 7, 2015

GRAND OPENING

*Limited quantities available to qualified purchasers. Prices and information correct at press time. All illustrations reflect artist impression E. & O. E.

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//COMMUNITY FOCUS

LOCATION Caledon

HOUSING TYPE Detached homes on 38-, 41- and 43-ft. traditional depth lots, from $594,990

CONTACT 905.838.2806 fieldgatehomes.com

MOVE-IN FALL 2015 AT LOTUS POINTE, CALEDONFieldgate Homes announces a limited opportunity Movein Soon Sales Event at Lotus Pointe

A t Lotus Pointe, GTA homebuyers have a rare opportunity to live in a spectacular family home community in one of the last true country towns remaining in the GTA. Located just 30 minutes northwest of Toronto, Caledon is famous throughout the region for its many hobby farms, its magnificent golf courses and its all-round spectacular country lifestyle. This is a community where life moves at a slower pace, a place where youre just as likely to get your groceries from a farmers market as you are from a supermarket.

This ideal setting lets you enjoy the simple pleasures of country life with big city conveniences of Brampton just moments south. Featuring the regions best selection of homes, youre sure to find everything youve been searching for when you arrive at Lotus Pointe. Now, with numerous homes available with September-December, 2015 closing dates, you can move-in and start enjoying this amazing lifestyle in as little as seven months!

...continued on pg 26

FIELDGATE HOMES | Lotus Pointe


FIELDGATE HOMES | Lotus Pointe

Fieldgates homes at Lotus Pointe are all detached models situated on 38-, 41- and 43-ft. traditional depth lots. Th ese are positively luxurious family homes that boast an inspired combination of contemporary open-concept fl oorplans and classic countryside charm. Th e homes boast stunning brick and stone elevations, large windows, two-car garages and charming covered porches. Luxury is in no short supply inside these homes either, with 3.5 bathrooms in most homes, hardwood fl ooring, freestanding soaker tubs and separate showers in the master ensuites and a whole host of other spectacular premium features and fi nishes. Th e Lotus Pointe community also o ers easy access to pristine greenbelt lands, with hiking and cycling trails just steps away. Homes are priced from just $594,990.

South Caledon o ers the fi nest lifestyle in the GTA the ideal mix of country charm and city convenience. So whether

you prefer to do your shopping at a supermarket or a farmers market, Lotus Pointe is the perfect place for you. Th e many big name shops and amenities of Brampton can be found just minutes south, and there are a number of well regarded elementary and secondary schools right in the area.

Of course, the most amazing aspect of life in Caledon is the wonderful selection of outdoor amenities, with numerous parks, golf courses and conservation areas all nearby. For convenient access to Toronto and other popular GTA destinations, Hwys. 410, 407 and 401 are just waiting to take you wherever you want to go.

Fieldgate Homes has been known for building architecturally unique homes in distinctive neighbourhoods that become excellent investments and showpieces of craftsmanship and distinction. Nobody has a greater appreciation for Fieldgates wonderful reputation than the 20,000 plus satisfi ed customers who have purchased a Fieldgate home over the past 55 years.

To learn more about Lotus Pointe call 905.838.2806 visit eldgatehomes.com today!

Fieldgate Homes has been known for building architecturally unique homes in distinctive neighbourhoods that become excellent investments and showpieces of craftsmanship and distinction.

//COMMUNITY FOCUS...continued

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E xperience style and allure as you tour Monarchs impressive model homes at Kleinburg Crown Estates. From the quality features and finishes displayed in the Hampshire to the exceptional Essex model, complete with a theatre room, wine cellar, lower level lounge, gourmet kitchen, loggia and a gym with rubberized floor, discover what life can be like in one of Kleinburgs most remarkable communities.

Minutes from the charming Village of Kleinburg in a picturesque setting, Kleinburg Crown Estates is a master-planned community of spectacular all detached homes that perfectly blends the old with the new, the historic with the

modern. Monarch is offering a wide selection of designs, including a popular bungalow with loft plan, starting at 2,095 sq. ft.

These magnificent detached homes are set on traditional deep 42- and 50-ft. lots. Spacious four- and five-bedroom designs up to 4,486 sq. ft. with gracious brick, stone, stucco and Renaissance stone exteriors, and impressive eight-ft. high front doors. Many designs are set off by deep front porches where families can gather together and greet passing neighbours.

Each manor-inspired residence is highlighted by an impressive list of features including granite kitchen countertops, hardwood floors, oak

//COVER STORY

Monarchs stunning models the jewels of KLEINBURG CROWN ESTATES

LOCATION Kleinburg

HOUSING TYPE Detached homes

SALES CENTRE 165 Timber Creek Blvd.

CONTACT 416.495.3513 monarchgroup.net


MONARCH | Kleinburg Crown Estates

staircases, metal pickets, central vacuum systems, central air conditioning, cold cellars, coffered, waffle and vaulted ceilings, smooth ceilings on main level, interlocking driveways, 200 amp service, maple cabinets, under-cabinet lighting, Grohe fixtures and gas fireplaces as per plan and more.

Monarch offers purchasers the ability to customize elements of their new home to ensure that life at Kleinburg Crown Estates will be exceptional in every way imaginable. With a brand new release now available, please visit us today.

MONARCH. FIRST. Since 1917, Canadian families have trusted Monarch, and made the name synonymous with dependability before the 1980s ushered in the electronic age, before the 1960s boomer generation changed our views and even before the

roaring 1920s got us dancing. As Canada grew, many of the most sought-after communities and inspired condominiums were built by Monarch and are now woven into the countrys fabric, neighbourhoods where homes are cherished and memories are made.

Headquartered in Toronto, Monarch is one of Canadas oldest and largest home builders. Monarch has consistently been recognized in the home building industry and by its customers for superior quality and outstanding customer satisfaction. Monarch builds and develops single-family detached and attached homes in Toronto and Ottawa and builds highrise condominiums in the Greater Toronto Area. Monarch focuses on style, design, quality and livability in all of its homes.

For Monarchs Kleinburg Crown Estates, visit the sales office and model homes located at 165 Timber Creek Blvd., or call 416.495.3513.

For more information on Monarch, please visit: monarchgroup.net twitter.com@monarch_group facebook.com/monarchcorp [email protected]

Monarch offers purchasers the ability to customize elements of their new home to ensure that life at Kleinburg Crown Estates will be exceptional in every way imaginable.


//MORTGAGE ADVICE

by ALYSSA RICHARD

ALYSSA RICHARD is the Founder and CEO of RateHub.ca a financial product comparison site that aims to empower

Canadians to make smart financial decisions.

What to consider before getting a mortgage this year

As another new year begins, some of the most common resolutions people make revolve around personal finances. You may want to get out of debt, save more money or even buy your first home. If youre thinking about the latter, a plethora of new financial tasks awaits you in 2015. Youll need to get your down payment ready, hire a home inspector and a real estate lawyer, and, of course, find the home you want to buy. But before you can do any of that, you need to get pre-approved for a mortgage.

Once youve been pre-approved, remember that this is the absolute maximum amount a bank or mortgage broker would be willing to give you and the mortgage payment at that top price is often outside of peoples comfort zones, when it comes to their personal budgets. To ensure youre not strapped for cash and become house poor, try to buy something at a lower price point. Your budget will especially thank you when not if, when interest rates go up.

Finance officials and economists have said an interest rate hike was on the horizon for years, but all signs point to it finally happening in 2015. Since our economy follows the U.S.s, the Bank of Canada will watch what the Federal Reserve does then go from there. Its predicted that our prime

rate could go up by as much as 1.25 to 1.50 per cent, though, which would affect anyone who had a loan attached to prime (variable mortgage, bank loan or line of credit). If youre thinking of taking advantage of a low variable mortgage rate this year, you should first run the numbers to see if you could afford this potential increase.

According to the Canadian Real Estate Association, the average home price in Canada is slightly more than $413,000. If we plug that number into a mortgage calculator, put down 20 per cent and choose the current best five-year variable rate in Toronto (2.09 per cent), your monthly mortgage payment would be $1,413. Now, if prime went up by 1.50 per cent, so would your mortgage rate. If yours went up from 2.09 per cent to 3.59 per cent, your monthly mortgage payment would go up to $1,665 thats $252 per month or $3,024 per year extra that youd need to find in your budget.

Imagine how difficult that would be to come up with, if youd already purchased something at the top of your max budget. And fixed rate mortgage holders wont be immune to the interest rate increase, either those will likely go up, too, but youd be protected from that until your mortgage came up for renewal. Still, I wouldnt be surprised if we saw more people go fixed this year, in light of this potential interest rate increase. Even if it werent on the horizon, its always best to stress test a mortgage before you buy. A good rule of thumb: if you cant afford a two-per-cent interest rate hike, you may want to look at a home within a more appropriate price range.

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*Prices, plans and specifications are subject to change without notice. see sales representative for details. e. & o.e.

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ARIS-MUL-A-AD-NHC-DEC9-9.indd 1 14-12-15 12:51 PM


Arista Homes is about much more than building homes. Arista Homes is driven by a corporate philosophy that begins with clients and extends to the culture and experience that encompasses the Arista brand. The company is as much about building communities and relationships as it is about constructing homes.

Founded by Michael DeGasperis, Arista Homes is celebrating its 20th anniversary as one of the GTAs premier home builders. In this relatively short period of time this award-winning company has proudly built more than 8,500 new homes across the GTA, following the mandate to deliver value-rich features to clients, combined with uncompromised building efficiency and quality.

Arista Homes recognizes that it is sharing in the most important decision in any familys life, and it takes this involvement seriously. The company strives to work with its customers to create the best possible homebuying experience. With exceptional floorplans, attractive streetscapes, dedicated client care and master-planned communities. Arista works continually to exceed expectations and fulfill dreams.

Aristas mission statement has always mandated the development of our exceptional people. Its team of dedicated professionals is continually learning and collaborating, with the goal to improve its processes. This innovative approach begins in the design stage, but is entrenched in every decision and aspect of the construction process to build better homes. The Arista A-team is focused on developing team-building initiatives to strengthen relationships with each other and with homeowners.

Achievements in energy efficiency, client-focused sales processes, technological integration and unparalleled customer care are some of the ways Arista is working towards continually improving the home buying process. Each and every Arista Home is not only built for its clients, but for future generations that will one day make these houses their homes. The company

is dedicated to finding the best locations to build homes, and create sustainable master-planned communities that municipalities are proud to welcome and support.

Known for its superior construction practices and intricate exterior elevations, the Arista mandate has always been that of delivering a zero deficiency home at time of closing. Although such a goal has its challenges, every Arista A Team member has embraced this mandate and works very hard to deliver a quality built home that exceeds industry standards.

ARISTA HOMESMore than 20 years of building homes, communities and relationships

//COMMUNITY FOCUS ARISTA HOMES | Multi-site

However, the builder-buyer relationship doesnt just begin and end with the actual sales transaction. Arista is well recognized for exceptional client care, and is dedicated to improving customer service beyond the typical expectations of many homeowners. As such, Arista has a 24-hour HomeCare hotline, which makes it easier for every purchaser to be part of the companys ultimate goal that of providing unparalleled customer service.

Other new innovations include the Arista Academy, well-attended and appreciated sessions where homebuyers are invited to meet their neighbours in a classroom setting as key management personnel establish expectations, timelines and provide useful tips to enhance the overall buying experience.

Of course, the ultimate compliment for any home builder is a referral a sure sign that Arista is doing its job and pleasing its clients. Every year, more and more satisfied Arista homeowners in master-planned communities across the GTA and southern Ontario, recommend the Arista brand to family and friends.

As the GTA continues to grow, Arista recognizes that proximity to infrastructure and transit are increasingly becoming determining factors for homebuyers today. Such amenities are key to the overwhelming success of Aristas newest communities in Vaughan, Markham and Aurora. Arista works closely with municipalities, transportation authorities and local authorities to ensure that all of its communities are well serviced and that plans for future growth do not go unattended.

The company has earned praise, not just from clients, but also municipal officials, Tarion Warranty Corporation, the Building Industry and Land Development Association, the Vaughan Chamber of Commerce and many more.

The latest example of Aristas home building excellence can be seen in the Impressions of Kleinburg community. This master-planned community of freehold townhomes, semis and singles was recently recognized as BILDS Peoples Choice Community of the Year and is fast becoming the community of choice within the Vaughan marketplace. Innovative f loorplans, exceptional exteriors, panelized construction and energy saving features built into every home have all contributed to hundreds of new families calling Impressions of Kleinburg home. With models now open and closings available as early as within 120 days, there may be no better time to visit this exceptional Arista community.

This year will see Arista launch new communities in Markham, Richmond Hill, Aurora and Whitby, where the company will apply the same approach to home building design and excellence it is known for.

Following its philosophy to develop exceptional people, build exceptional communities and deliver exceptional new homes, Arista Homes can safely say mission accomplished However, always endeavoring to improve.

For more information on Arista Homes or any of its communities, visit aristahomes.com


ARISTA HOMES | Multi-site

However, the builder-buyer relationship doesnt just begin and end with the actual sales transaction. Arista is well recognized for exceptional client care, and is dedicated to improving customer service beyond the typical expectations of many homeowners. As such, Arista has a 24-hour HomeCare hotline, which makes it easier for every purchaser to be part of the companys ultimate goal that of providing unparalleled customer service.

Other new innovations include the Arista Academy, well-attended and appreciated sessions where homebuyers are invited to meet their neighbours in a classroom setting as key management personnel establish expectations, timelines and provide useful tips to enhance the overall buying experience.

Of course, the ultimate compliment for any home builder is a referral a sure sign that Arista is doing its job and pleasing its clients. Every year, more and more satisfied Arista homeowners in master-planned communities across the GTA and southern Ontario, recommend the Arista brand to family and friends.

As the GTA continues to grow, Arista recognizes that proximity to infrastructure and transit are increasingly becoming determining factors for homebuyers today. Such amenities are key to the overwhelming success of Aristas newest communities in Vaughan, Markham and Aurora. Arista works closely with municipalities, transportation authorities and local authorities to ensure that all of its communities are well serviced and that plans for future growth do not go unattended.

The company has earned praise, not just from clients, but also municipal officials, Tarion Warranty Corporation, the Building Industry and Land Development Association, the Vaughan Chamber of Commerce and many more.

The latest example of Aristas home building excellence can be seen in the Impressions of Kleinburg community. This master-planned community of freehold townhomes, semis and singles was recently recognized as BILDS Peoples Choice Community of the Year and is fast becoming the community of choice within the Vaughan marketplace. Innovative f loorplans, exceptional exteriors, panelized construction and energy saving features built into every home have all contributed to hundreds of new families calling Impressions of Kleinburg home. With models now open and closings available as early as within 120 days, there may be no better time to visit this exceptional Arista community.

This year will see Arista launch new communities in Markham, Richmond Hill, Aurora and Whitby, where the company will apply the same approach to home building design and excellence it is known for.

Following its philosophy to develop exceptional people, build exceptional communities and deliver exceptional new homes, Arista Homes can safely say mission accomplished However, always endeavoring to improve.

For more information on Arista Homes or any of its communities, visit aristahomes.com


Ontario housingSTARTS TO RISE IN 2015, DIP IN 2016

//IN THE NEWS

Ontarios housing market will continue its steady rise in 2015 before taking a dip in 2016, according to the First Quarter 2015 CMHC Housing Market Outlook released recently by Canada Mortgage and Housing Corp. (CMHC).

Ontario annual home starts will grow to 63,200 in 2015 before easing to 60,500 units in 2016. Ontario home starts will range between 54,800 and 68,100 units this year.

An improving economy will be more supportive of the Ontario housing

market in 2015 than it has been in the recent past. However, as home prices continue to grow, particularly for single-family homes, demand will increasingly shift to more affordable housing by 2016, says Ted Tsiakopoulos, CMHCs Ontario regional economist. Neighbouring resale markets surrounding the GTA, higher density dwellings and rental over ownership tenure will benefit most from the shift in buying patterns, Tsiakopoulos adds.

Ontario existing home sales will gradually lead the market higher with Multiple Listing Service (MLS) sales growing to 209,700 units in 2015 before slowing to 202,700 units in 2016. MLS sales will range between 188,800 to 220,500 units in 2015. Ontario home prices will grow at a slower rate over the forecast horizon.

The provincial outlook echoes the national outlook, which calls for gradual moderation in the pace of new home construction over the next couple of years as employment, disposable income and high net migration continue to support the market, says Bob Dugan, chief economist for CMHC.

However, downside risks have increased since the previous forecast due mainly to recent declines in oil prices. Lower oil prices will negatively affect oil-producing economies like Alberta, Saskatchewan, and Newfoundland and Labrador, which will only be partly offset by the positive effects of lower exchange rates and interest rates across all provinces. We have widened the forecast ranges for housing starts, Multiple Listing Service (MLS) sales and average MLS prices to reflect these risks.

madisonhomes.caGet Social with us: @ mymadisonhome mymadisonhome

*Prices and specifi cations are subject to change without notice. E. & O. E. See Sales Representative for details.

MARKHAM

GRAND OPENINGFebruary 28, 2015

Singles on 36, 41 & 45 lotsfrom the $900s

SALES OFFICE4 Green Hollow Court (9th line and Bur Oak)

905-201-7700

THORNHILL

60 ravine lotsfrom $1.8 Million

SALES OFFICE650 Valley Vista Drive

(Dufferin at Major MacKenzie)905-417-1203

MARKHAM

NEW RELEASE AND DESIGNS Freehold Townhomes from the high $500s

Singles on 30, 36 & 40 lots from the $800s

SALES OFFICE655 Cornell Centre Blvd. (at 16th Avenue)

905-472-7667

D E C O R A T E DM O D E L H O M E S

N O W O P E N

MADI-MUL-A-AD-NHC-FEB12-1.indd 1 15-02-13 9:00 AM



//COMMUNITY FOCUS

MADISON HOMES Final release in Greensborough Markham

D ont miss out on your last chance to live in the unique and vibrant community of Greensborough when Madison Homes releases its final 15 lots on Feb. 28, 2015. Greensborough is a charming, established Markham neighbourhood, close to many amenities and modern conveniences. Situated at Ninth Line just north of 16th Avenue, the community has been designed within a master plan, featuring a village town centre with streets arching around creating cul-de-sacs and winding crescents, pleasing streetscapes with grassy landscaped medians, soccer fields, parks and walking trails.

Madison Homes collection will offer its most enduring and popular detached 36-, 41- and 45- models. The 36-ft. series include the Silkwood (2,521 sq. ft.) and the Willowood (2,915 sq. ft.) models delivering superb layouts and fantastic curb appeal with classic brick or stone elevations, front porches, grand windows and attached double-car garages tucked around the back.

The 41- and 45-ft. models ranging in size from 2,519 to 3,237 sq. ft. offer a variety of functional open-concept layouts with living space flowing easily and elegantly from room to room. Optional layouts are available adding bedrooms and bathrooms on the second floor. Fall in love with the spacious bright kitchens complete with island and breakfast bars, the family room with a cosy fireplace and the dining and living areas perfect for entertaining and everyday living.

Be inspired by the numerous decor finishes Madison Homes has to offer, and customize your new home to reflect your personal style. Luxury features offered will include soaring 10-ft. ceilings on the main floor and grand nine-ft. ceilings on the second floor, granite kitchen countertops with double bowl undermount sink, upgraded kitchen cabinetry with extended height uppers, stained oak strip hardwood flooring (3.25 by 0.75 in.) on the main floor, stained oak stairs and pickets and much, much more.


MADISON HOMES |Greensborough

LOCATION: Markham

HOUSING TYPE: Detached homes on 36-, 41- and 45-ft. lots

SALES CENTRE: 4 Green Hollow Court, open Monday to Th ursday 1 to 8 p.m., Friday by appointment, Saturday, Sunday and holidays 11 a.m. to 6 p.m.

CONTACT: madisonhomes.ca

A true community is more than just a collection of homes, it refl ects the spirit of its residents and the dynamics of the environment. Greensborough has become one such community over the years, steadily becoming home to over a thousand families, off ering the best of modern life and urban conveniences. Th e natural beauty of nearby greenspaces, parks, playing fi elds, woodlots and biking trails add charm and character so rare in modern residential neighbourhoods. Th e many and diverse local businesses and services, restaurants, retail stores, schools, transit, Mount Joy Go station and major thoroughfares have contributed to the vitality of the community. Madison Homes vision of this

spectacular master-planned town began more than a decade ago, and today Greensborough is a highly desired and thriving residential community within the city of Markham.

For more information on Greensborough, visit the sales o ce and model home at 4 Green Hollow Court in Markham, open Monday to Th ursday from 1 to 8 p.m., Friday by appointment, Saturday, Sunday and holidays from 11 a.m. to 6 p.m.

Visit madisonhomes.ca to register for priority updates and receive more information on this exciting new release coming Feb. 28, 2015.

Get your copy now!416.626.4889

Fall issue available.

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Who, what & where we tell all!

Village Gate, an Angus Glen Community by Kylemore Communities

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newhomeguide.ca

WITH OVER 40 YEARS EXPERIENCE

Setting high standards with superior features.

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

LOCATION DESIGN VALUE

DECORATED MODEL HOMES NOW OPEN

60-DAY MOVE-INS AVAILABLE

A fabulous selection of freehold townhomes and singles in an established community.

starting from the high $500s.

Sales Centre: 655 Cornell Centre Blvd., Cornell Centre Blvd. and 16th Avenue.

Fully upgraded, premium lots with thousands of extras now included. Semi detached homes

starting from the high $500s, 2,015 sq. ft.

Sales Centre: 471 Meadowridge Ct., East side of McLaughlin Rd., just North of Derry Rd.

Luxurious single detached homes on 46, 50 and 60 Lots. Starting from $1,399,990

Sales Centre: 679 Valley Vista Drive, Dufferin and Major Mackenzie

Jefferson Forest prestigious new home community. Freehold Townhomes and Singles

from the $700s.

Sales Centre: 53 Paper Mills Crescent, Yonge and Jefferson Forest

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//TAX TIME TIPS

Buying a home is a big investment and a financial commitment es-pecially as a first-time homebuyer.

Many first-time homebuyers are generally recovering from the first year of moving into their dream home, and

all the associated fees, unanticipated closing costs and expenses to maintain the home.

There are a couple of tax credits that homeowners should be aware of when filing their 2014 tax returns.

Tax tips for the homebuyerTAX CREDITS TO EASE THE PAIN OF THIS BIG-TICKET PURCHASE

...continued on pg 42

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

* Does not apply to all Townhome Models, please see sales representative for more details.

Whitbys finest new master planned community at Taunton Road and Country Lane.

NOW UNDER CONSTRUCTION ONLY 6 REMAINCOMING TO WHI TBY REG ISTER NOW

PREVIEW OPENINGA SPECTACULAR COLLECTION OF LUXURY HOMES!

TOWNHOMES, SEMI-DETACHED AND SINGLE FAMILY HOMES. Come out and visit our Spectacular Designer Decorated Model Home!

Luxury Singles and Semis come included with Fully Finished Lower Levels.*

$500sStarting fromthe lowSales Office Location and Hours:

10 Rising Hill Ridge.Brampton, ON L6Y 0C3647-287-7042

Monday to Thursday: 1pm - 8pm. Friday: CLOSED. Saturday, Sunday & Holiday: 11am - 6pmThe Primrose B.

Just steps from Yonge St. in the heart of Richmond Hill, luxurious 3 bedroom urban towns. Starting from $479,900 MOVE IN THIS SUMMER!

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The federal government introduced the HBTC to give Canadians some much-needed tax relief.

As part of the Government of Canadas $62-billion economic stimulus announced in the Eco-nomic Action Plan, first-time homebuyers can get this non-refundable tax credit to help offset legal fees, disbursements and land transfer taxes.

People with disabilities who move to a more accessible home may also qualify for the tax credit.

The HBTC makes it a little easier to make one of the largest purchases of our lives a new home.

For more information and tax tips, visit online at cra-arc.gc.ca

Why the Home Buyers Tax Credit is good for Canada

THE HOMEBUYERS TAX CREDIT (HBTC) is a federal tax credit of up to $750 is available to qualified first-time homebuyers or homeowners who have not owned a home in the previous four years. This tax credit was intro-duced in 2009 to ease the burden of closing costs for first-time buyers.

Do you qualify for the HBTC? Neither you, your spouse or common-law partner may have lived in a house that either of you owned in the year of purchase or any of the four preceding years.

If you are a person with a disability or are buying a house for a relative with a disability, you dont have to be a first-time homebuyer to qualify. However, the home must be purchased to allow the person with a disability to live in a more accessible dwelling or in an environment better suited to their needs and care.

A qualifying home is a housing unit located in Canada that already exists or is being built.

A share in a co-operative housing corporation that entitles you to possess, and that gives you an equity interest in a housing unit located in Canada, also qualifies. However, a share that only provides you with a right to tenancy in the housing unit does not qualify.

THE HOME BUYERS PLAN (HBP) is a program that allows you to withdraw up to $25,000 from your Registered Retirement Savings Plan (RRSP) to buy a qualifying home for yourself or for a related person with a disability.

RRSPs arent just for retirement anymore. This plan lets first-time homebuyers access their retirement savings tax-free, to increase their down payment and decrease their mortgage amount and interest paid.

The HBP withdrawal limit is $25,000 tax-free for each you and your spouse, for a combined total of up to $50,000 toward your down payment or other home-purchase related costs.

In order to take advantage of this plan, your RRSP contributions must remain in the RRSP for at least 90 days before you can withdraw them under the HBP. Generally, you will be required to repay all the withdrawals to your RRSPs within a period 15 years to avoid paying tax on that sum. You will have to repay an amount to your RRSP each year until your HBP balance is zero. If you do not repay the amount due for a year, that amount will have to be included in your income for that year, and you will be taxed.

The HBTC is a federal tax credit available to qualified first-time homebuyers or homeowners who have not owned a home in the previous four years

//TAX TIME TIPS...continued

LiveAtRiverside.ca 416-746-1234

OLDE WOODBRIDGE

REGISTER NOW LIVEATRIVERSIDE.CA

Prices and specifi cations are subject to change without notice. E. & O.E. Renderings are artists concept.

$399,900BUNGALOW & TWO STORY URBAN TOWNS STARTING FROM JUSTEverything you could ask for, virtually in your backyard. The serenity of the East Humber River. The timeless elegance of downtown Woodbridge. The convenience of shopping at Market Lane. Access to all modes of transportation. The intimacy of a small community.

INTRODUCING AN INTIMATE ENCLAVE OF URBAN TOWNS BY THE RIVER

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//IN THE NEWS

EnerQuality recognizes Mattamy Homes Peter Gilgan WITH HALL OF FAME AWARD

This year marks the 10th anniversary of Energy Star for New Homes, the most successful Green building program in Canada. Since the program launched in 2005, it has been at the centre of the residential construction industrys adoption of energy efficient building practices in Canada.

In 2014, 32 per cent of all homes built in Ontario were Energy Star qualified. More Ontario homes are being built as part of the program than ever before.

In recognition of this success, EnerQuality celebrated the anniversary at the Housing Innovation Forum and EQ Awards in Toronto on Feb. 19. The ceremony recognized key innovators and influencers in the building community.

Foremost among those recognized will be Peter Gilgan, founder and CEO of Mattamy Homes, who received the 2014 EnerQuality Hall of Fame award. The prestigious award is presented annually to an individual who, over the course of his or her career, has made a lasting impact on energy efficiency and green building in the housing industry.

Mattamy Homes, under the direction of Gilgan, was one of Canadas first homebuilders to enroll homes in the program and also builds Energy Star qualified homes in three U.S. states. Previously, the company was twice awarded Energy Star for New Homes Builder of the Year (Large Volume) and Best Green Marketing Campaign by EnerQuality, as well as the Ontario Home Builder of the Year three times in the last five years by the Ontario Home Builders Association, and Home Builder of the Year five times in the last 10 years by the Building Industry and Land Development Association.

We are extremely proud to present this years EnerQuality Hall of Fame award to Peter Gilgan, says Corey McBurney, president of EnerQuality. Real leaders are defined as much by what they do as what they are able to influence others to do. Peters commitment to building Energy Star homes combined with Mattamys market leadership has moved the home building industry as a whole forward.

All Mattamy communities are thoughtfully planned and for us that extends to ensuring the homes we build are as energy efficient as possible, meeting the needs of all our stakeholders, says Gilgan. Sustainability is an important

consideration for our purchasers, the communities where we build and for Canada as a whole. Im proud of the leadership our family at Mattamy has shown in helping Green building become more the standard, and hope the industry remains committed to building high-quality energy-efficient homes through progressive programs such as Energy Star.

For a complete list of winners of the EnerQuality Awards of Excellence, check the March 7 issue of New Home Guide.


// HOME SWEET HOME

LYDIA MCNUTT is an award-winning

writer and editor. Lydias love

of architecture, interior design

and the written word have landed her

happily at home atNew Condo Guide.

Email Lydia.McNutt@

wall2wallmedia.com, and follow her on

Twitter @LydiasTweets

by LYDIA MCNUTT

Welcome to the worldsmost livable city

Toronto is the biggest Canadian city, and arguably the best and the proof is in the maple- avoured pudding, with Torontos ranking as the most livable city in the world, according to e Economist. Our economy, real estate market, and Raptors are all winners. We love thelit-up skyline, thebustling social scene, and the amazing diversity that is the de nition of Torontonian.

Toronto made e Economists short list of top 50 international cities, and bested them all when averaging more than 40 quantitative and qualitative indicators like livability (Toronto ranked #4), business (#4), safety (#8), democracy (#8), global food security (#8) and worldwide cost of living (#70 that last one is no surprise, but well come back to that). e results were published in theSafe Cities Index 2015, a new report by e Economist Intelligence Unitthat evaluates urban safety around the world. e report names Tokyo as theworlds safest city.

Montreal the only other Canadian city to make the list scoredsecond place, ranking#16 for livability, #14 for safety, #4 for business, #8 for democracy, #8 for food security, and #86 for worldwide cost of living. Rounding out the top ve cities are Stockholm in third place, Amsterdam in fourth, and San Francisco in fth.

Safe cities are those that can support a vibrant cultural life and a dynamic entrepreneurial environment in which everyone can thrive, the report says. e best examples of these will be at the forefront of economic and commercial growth for years to come.

Toronto in Canada is a consistent performer across the ve other indexes, putting it top overall, according to the report. Deciding where to live is a personal choice for many city residents. For some, safety will be paramount. Others will prioritize culture and creativity. Two neighbours may hold opposite views on democracy and the cost of living. But often choice will be based on a mixture of reasons.

So, what drives your decision when it comes to location? If youre on the home hunt, then youre likely in the thick of that dilemma, carefully weighing factors like cost, convenience and of course, commute times we are talking the GTA, after all.

Do you have kids, or are you planning to? Are you a workaholic? Shopaholic? Outdoor af icionado? Where you choose to buy a home will impact your lifestyle while you live there, and it could affect the resale value when you sell the place one day. Location is also the one thing you

cant change about your home, so choose carefully.

Of course, cost is a key determining factor in the location debate. Live-work-play locations, which are often downtown or in major suburban hubs, are often thought to be out of nancial reach for many homebuyers, who nd more bang for their buck in the burbs. Interestingly, a recent study by Pembina Institute and RBC showed that 81 per cent of GTA residents prefer to live in a walkable, transit-friendly neighbourhood over a car-dependent location. Pembina Institute and RBC also found that residents spend an average of $10,000 a year on car ownership. In a location-e cient, walkable, car-optional neighbourhood, they would save a minimum of $200,000 over 25 years. at extra money could cover the cost of living in a more expensive, more central community.

Do your research and consider your options and nances carefully. A downtown home in the worlds most livable city could be well within reach.

Safe cities are those that can support a vibrant cultural life and a dynamic entrepreneurial environment in which everyone can thrive.

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Prices and specifi cations are subject to change without notice. E. & O.E.

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//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

When buying your first home, do your due diligence

Purchasing your first home will likely be the largest investment you ever make. Think about that. Why, you ask? In my 35 years of practicing law, I have seen young couples spend more time researching a new telephone than a new home!

If you take anything from this article, it is this: research everything ahead of time, like home builders, areas, amenities, property taxes, lawyers, zoning, bylaws and neighbours. And dont let yourself be pressured by anyone.

WHAT CAN YOU AFFORD?Review your available cash for deposit, and your annual income to pay a mortgage and expenses. Then, speak to the mortgage specialists at the bank you deal with and speak to a reputable mortgage

gta new home guide - feb 21, 2015

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