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Real Estate Forecast for 2018: What to Expect!

Real Estate Forecast for 2018: What to Expect!

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Real Estate Forecast for 2018: What to Expect

As we head into a new year, the most common question we receive is, “What’s the outlook for GTA’s real estate in 2018?”

 

It’s not just potential buyers and sellers who care; current homeowners also want reassurance about the value of their investment. No one knows exactly what 2018 will bring, but we’ve outlined expert predictions on where the market is headed and how government interventions are expected to impact the Canadian housing market in the year ahead.

HOUSING PRICES WILL REMAIN HIGH IN URBAN CENTRES

Although the Toronto real estate market did experience a slowdown in 2017, housing affordability will remain a major issue in both Toronto and Vancouver in 2018. According to the Royal Bank of Canada’s most recent Housing Trends and Affordability Report, as of Q2 2017 it cost more than 75 percent (Toronto) and 80 percent (Vancouver) of median household income to cover the average cost of owning a home.1

In an effort to stabilize prices, both the Ontario and British Columbia governments enacted a 15 percent tax on foreign investments in housing. However, according to the PricewaterhouseCoopers report on Emerging Trends in Real Estate: Canada and the United States 2018, “Industry players are skeptical that recent tax moves … to curtail foreign investment will have a long term cooling impact on housing affordability in Toronto and Vancouver.”2

In its Canadian Regional Housing Outlook, TD Economics predicts ”The decline in sales activity in both Vancouver and Toronto has helped to redistribute the balance of power from a pure seller’s market, back towards buyers, as evidenced by the sales-to-listing ratios. But, first-time homebuyers sitting on the sidelines waiting for higher interest rates to trigger a market crash may be holding their breath for a while. Prices are likely to only reset back to levels that existed prior to a year of exorbitant gains.”3

The high cost of living has forced a growing number of millennials to seek alternatives to traditional housing. The 2016 census found 47.4 percent of young adults in Toronto and 38.6 percent in Vancouver live with a parent. PricewaterhouseCoopers predicts a rise in multi-generational and multi-family homes, a move towards larger condominiums to suit growing families, and a flight from urban cores as new public transit projects make commuting more feasible.2

What does it mean for you? If you’re a current homeowner, you can expect your investment to hold its value and continue to appreciate over the long term. And if you’re considering selling this year, contact us to request a free Comparative Market Analysis to find out how much you can expect your home to sell for under current market conditions.

If you’re a potential buyer who has been waiting for real estate prices to drop, don’t expect a fallout any time soon. Governmental bodies have taken steps to slow down skyrocketing prices, which has helped to balance the market. Now is a great time to buy. And if traditional housing options don’t fit your budget, we can help you find alternatives to meet your needs.

GOVERNMENT INTERVENTIONS WILL HELP TO STABILIZE THE MARKET

Skyrocketing real estate prices have caused Canadians to take on a growing amount of debt. The federal Parliamentary Budget Office (PBO) reports that the average household indebtedness is up to 174 percent of disposable income, and they predict it will reach 180 percent by the end of 2018. Coupled with rising interest rates, the share of income that will go towards debt payments is expected to reach historic proportions.4

Regulators at the Office of the Superintendent of Financial Institutions (OSFI) have attempted to curb the potential fallout with interventions, the latest of which went into effect on January 1. These new regulations raise the requirements for mortgage borrowers with down payments of 20 percent or more. They are now required to qualify for a mortgage at an interest rate two percentage points higher than their current rate to ensure they can manage payments when interest rates do inevitably rise.

A similar “stress test” was enacted in 2016 for borrowers who put down less than 20 percent, but that regulation impacted a much smaller percentage of buyers.

According to Jeremy Rudin, the head of OSFI, “We clearly see the potential risks caused by high household indebtedness across Canada, and by high real estate prices in some markets. We are not waiting to see those risks crystallize in rising arrears and defaults before we act.”5

All federally regulated financial institutions will be obligated to utilize these requirements for both new mortgages and mortgage renewal applications of borrowers applying to switch lenders. It is not mandatory to apply the test at mortgage renewal for existing borrowers. Since credit unions are regulated provincially, they are not required to follow the new OSFI rules, although some may choose to out of prudency.

What does it mean for you? With new rules in effect, if you’re a buyer, your purchasing power may be impacted. If you’re concerned you may not be able to meet these requirements, securing your mortgage through a credit union may be an option. We are following this issue closely. Give us a call so we can discuss how these new rules will affect your home search.

If you’re considering selling your home this year, these regulations could alter the type of buyer who will be willing and able to purchase your home. We have expertise in this area and know how to market your home to a changing demographic.

5 YEAR MORTGAGES WILL MAKE A COMEBACK

Expect interest rates to rise in 2018. Bank of Canada has indicated that borrowers should expect to see rate increases this year … and notably, nearly half of Canadian mortgage holders are set to renew their mortgages in the next 12 months. Combined with the new, more stringent “stress test” requirements, a greater number of homeowners will be opting for five-year-fixed rate mortgages over the historically popular variable rate mortgages.6

According to LowerRates.ca, “Since January 2014, 56% of Canadian borrowers who applied for a mortgage through LowestRates.ca have gone variable, compared with 43% of those who got a five-year fixed. But this past August, there was a shift, where the five-year-fixed rate mortgage saw a sharp increase in applicants, with 59% of users on the LowestRates.ca site opting for this option versus only 39% opting for the variable mortgage.”7

What does it mean for you? If you’re in the market to buy, act now. Rising interest rates will decrease your purchasing power, so act quickly before interest rates go up. Give us a call today to get your home search started.

And if you’re a current homeowner who is set to renew your mortgage, you may want to consider locking in a five-year-fixed rate. Contact us if you would like assistance navigating your options.

 

 

2018 ACTION PLAN

If you plan to BUY this year:

 

1.    Get pre-approved for a mortgage. If you plan to finance part of your home purchase, getting pre-approved for a mortgage will give you a jump-start on the paperwork and provide an advantage over other buyers in a competitive market. The added bonus: you will find out how much you can afford to borrow and budget accordingly.

2.    Create your wish list. How many bedrooms and bathrooms do you need? How far are you willing to commute to work? What’s most important to you in a home? We can set up a customized search that meets your criteria to help you find the perfect home for you.

3.    Come to our office. The buying process can be tricky. We’d love to guide you through it. We can help you find a home that fits your needs and budget, all at no cost to you. Give us a call to schedule an appointment today!

 

If you plan to SELL this year:

 

1.    Call us for a FREE Comparative Market Analysis. A CMA not only gives you the current market value of your home, it’ll also show how your home compares to others in the area. This will help us determine which repairs and upgrades may be required to get top dollar for your property … and it will help us price your home correctly once you’re ready to list.

2.    Prep your home for the market. Most buyers want a home they can move into right away, without having to make extensive repairs and upgrades. We can help you determine which ones are worth the time and expense to deliver maximum results.

3.    Start decluttering. Help your buyers see themselves in your home by packing up personal items and things you don’t use regularly and storing them in an attic or storage locker. This will make your home appear larger, make it easier to stage … and get you one step closer to moving when the time comes!

 

WE’RE HERE TO HELP

 

While national real estate numbers and predictions can provide a “big-picture” outlook for the year, real estate is local. And as local market experts, we can guide you through the ins and outs of our market, and the local issues that are likely to drive home values in your particular neighbourhood. If you have specific questions, or would like more information about where we see real estate headed in our area, please give us a call! We’d love to discuss how issues here at home are likely to impact your desire to buy or a sell a home this year. Please visit our website SnapHomes.ca for latest MLS listing and pre-construction Homes & Condos.

Can’t find what you are looking for? Contact us for Exclusive list of Pre construction Homes and Condos and our pocket listings for Land!
Sources:

1.     Royal Bank of Canada’s Housing Trends and Affordability Report –
http://www.rbc.com/newsroom/_assets-custom/pdf/20170929-ha.pdf

2.     PricewaterhouseCoopers Emerging Trends in Real Estate 2018  –
https://www.pwc.com/ca/en/real-estate/assets/Real_Estate_ETRE_2018_PDF.pdf

3.     TD Economics Canadian Regional Housing Outlook –
https://economics.td.com/canadian-regional-housing-outlook-aug-2017

4.     Office of the Parliamentary Budget Officer –
http://www.pbo-dpb.gc.ca/en/blog/news/HH_Vulnerability

5.     Financial Post
http://business.financialpost.com/personal-finance/stricter-osfi-rules-on-mortgage-lending-will-do-more-harm-than-good-fraser-institute

6.     Bank of Canada Financial System Review November 2018  –
https://www.bankofcanada.ca/wp-content/uploads/2017/11/fsr-november2017.pdf

7.     Maclean’s  –
http://www.macleans.ca/economy/money-economy/canadians-rushing-to-lock-down-five-year-fixed-rate-mortgages/

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Grand Palace Condominiums

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Grand Palace Condos is a new condo project in Richmond Hill by Guizzetti Corporation located at Yonge St. & Weldrick Rd. and available in the mid $300,000’s. Taste the Luxury life at Grand Palace Condos, 15 floors towers with great views of Richmond Hill… The surrounding fine shops and restaurants make this the perfect neighbourhood for a soothing stroll. Become part of a superb and established community featuring beautiful estates, golf courses, and luxury living amenities! Your neighbourhood is one of prestige, safety and splendor.

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Home is where the heart is, and in the heart of Richmond Hill stands a refuge for the refined. Welcome to the future of condominium living, where superior construction meets elegance and function meets luxury. It’s all here in one architectural marvel on the West side of Yonge – convenience, creature comforts and all the lavish trimmings.

Grand Palace Condos’ suite is a haven of stately grace. Floor-to-ceiling glass walls provide natural daylight and your window to the world. Every detail is of the finest quality, including deluxe appliances, fixtures and imported granite, marble and ceramic finishes. Within this contemporary design the final touches are uniquely yours. Select a design package for an ambiance that reflects your own inimitable sense of style

Luxury Features & Finishes

Imported Stone Countertops

  • No two cuts of stone are ever alike. The elegant centerpiece of your future kitchen and bathrooms is guaranteed to be one-of-a-kind.
  • Choose from an exquisite array of granite countertops for the kitchen (including breakfast bar where applicable) and bathrooms.

Fisher & Paykel refrigeration

  • The Grand Palace is proud to present the elite Energy Star certified Fisher & Paykel EZKleen stainless-steel “Active Smart” refrigerator, a brand long synonymous with style and cutting-edge innovation.

Water Saving Fixtures

  • In the kitchen, premium fixtures include a double sink and single-level faucet with pull-out vegetable sprayer for double the convenience.
  • In the bathrooms, enjoy temperature-and pressure-balanced fixtures throughout plus under-mount sinks and a 5’ soaker tub.

A Grand Entrance

  • The foyer features a 9’ ceiling and mirrored closet doors. *

Sense of Greatness

  • Smooth-finished 9’ standard ceilings create an enhanced sense of spaciousness in the kitchen and all bathrooms.

Prestigious Floor Coverings

  • Luxury at your feet. Your suite features premium laminate flooring in the bedroom, living room, dining room, den – even the kitchen in all open-concept layouts.
  • Should you desire, carpeting can be substituted in the bedroom.
  • Premium porcelain tiles complete the picture in all bathrooms and kitchen (when layout permits). Your choice of porcelain or ceramic in foyer.

Gourmet Kitchens

  • Stylish entertaining begins and ends in your gourmet Grand Palace kitchen, tastefully designed for your convenience and culinary pleasure.
  • Custom-designed contemporary kitchen cabinetry features 42” uppers with extra depth over the Fisher & Paykel refrigerator, with cabinet doors available in your choice of 6 dramatic door profiles and 3 exciting colours.
  • Get more done with the power of Whirlpool appliances. Designer Whirlpool kitchen appliances include an Energy Star® stainless-steel high-efficiency time-delay dishwasher, stainless-steel self-clean built-in combination oven, 30° electric ceramic glass cook top, and a 30”wall-mount glass canopy hood or a 20 cubic-foot stainless-steel microwave/hood fan combo.
  • Attractive backsplash options include your choice of modern mosaic or ceramic tiles.
  • Under-mount sink offers a clean countertop to showcase the designer stone to dramatic effect.
  • Under valence & lighting.

Laundry

  • Whirlpool full-sized stacked front-loading dryer and Energy Star® high-efficiency front-loading washer.
  • Premium ceramic flooring.

Spa-Like Retreats

  • Elegant full bathrooms offer modern luxury features including built in deep soaker tubs with a full-height ceramic surround.
  • Ensuites include a separate shower with recessed lighting and frameless tempered glass enclosure.
  • Custom double-door vanity, granite countertop and a medicine cabinet with mirrored door above.
  • Convenient light in the shower.
  • Dual-flush high-performance toilet saves water.

Design & Comfort Details

BASEBOARDS & CASINGS (PSC Certified)

  • Architecturally designed modern 5” baseboards.
  • Painted casings on interior doors.

HARDWARE

  • Lush brushed-metal hardware.

PAINT

  • Walls, baseboards, trim and doors to be professionally painted with primer and finished with two coats of off-white eggshell wall paints (no-or low-VOC).

WINDOWS

  • Architecturally designed aluminum window frames with thermally insulated low-e coated double-pane sealed glazed window units that conserve energy.

COMFORT SYSTEMS

  • Year-round in-suite individual climate control ensures your suite is heated or cooled to your personal comfort.

COMMUNICATION SYSTEMS

  • Pre-wired cable, television and telephone outlets throughout offer modern communication convenience. *

LIGHTING

  • Artfully designed ceiling-mounted halogen track lighting and under-cabinet task lighting in the kitchen.
  • Distinctive ceiling light fixtures in foyer, kitchen, den, hallways and walk-in closets. **
  • White Decora light switches and electrical outlets.
  • Capped outlets in the dining room and bedrooms.

Live in Absolute Comfort & Peace of Mind

  • Courteous concierge service will be available 24 hours a day, 7 days a week in the residential lobby.
  • Easy-use security card access at all entrances keeps the building safe from unwanted visitors.
  • Closed circuit television monitoring in underground parking for greater peace of mind.

The Height of Elegance

  • All penthouse suites feature soaring 10’ ceilings.

Relax Outside

  • Spacious balconies and terraces are perfect for outdoor entertaining.
*As per plan.
**As per vendor’s standard samples. All dimensions, including ceiling height and area, if any, are approximate and may change. Actual living area may vary from any stated floor plan. References to model types or model numbers refer to current manufacturer’s models. If these types or models shall change, the Vendor shall provide an equivalent model and the Purchaser is bound to accept the same. The Vendor shall have the right to substitute other products and materials for those listed in this Schedule or described in other plans and specifications provided to the Purchaser by the Vendor, provided that the substituted products and materials are of a quality equal to, or better, than the products and materials so listed or so provided. The Purchaser acknowledges that some items displayed in the presentation centre of the Vendor may not be standard features and finishes and may (if available) be purchased from the Vendor at an extra cost. Selections of all features and finishes, where the Purchaser is given the option to select the model, style and/or colour, shall be made from the Vendor’s predetermined standard selections. All features and finishes may vary from suite to suite. Prices and specifications are subject to change without notice. E.&O.E. May 2011

 

TOWER A

Number of Suites: 168
Number of Levels: 15

PRICING:

Floor Increments vary depending on views and locations.
See Sales Representatives for details, H.S.T. included in all prices.

PARKING:

One Parking Space Included. Additional Parking Space $25,000 + HST

LOCKER:

Available at $2,500 per Locker + HST.

MAINTENANCE FEES:

Approximately $0.54 per square feet per month.
Includes: Building Insurance and the upkeep of common areas, heat/air conditioning.
Excludes: Hydro, water, parking, locker, cable, phone, internet plus applicable taxes.

DEPOSIT STRUCTURE:

$5,000 with Offer
5% less $5,000 in 30 Days
5% in 90 Days
5% in 120 Days
5% in 365 Days

PROPERTY TAXES:

Estimated at 1.25% of the Purchase Price per annum.

Tentative Occupancy

Summer 2014

Prices & Specifications subject to change without notice. E&O.E. May 02, 2012. Admin Last Updating May 12, 2012

TOWER B

Number of Suites: 168
Number of Levels: 15

PRICING:

Floor Increments vary depending on views and locations.
See Sales Representatives for details, H.S.T. included in all prices.

PARKING:

One Parking Space Included. Additional Parking Space $25,000 + HST

LOCKER:

Available at $2,500 per Locker + HST.

MAINTENANCE FEES:

Approximately $0.54 per square feet per month.
Includes: Building Insurance and the upkeep of common areas, heat/air conditioning.
Excludes: Hydro, water, parking, locker, cable, phone, internet plus applicable taxes.

DEPOSIT STRUCTURE:

$5,000 with Offer
5% less $5,000 in 30 Days
5% in 90 Days
5% in 120 Days
5% in 365 Days

PROPERTY TAXES:

Estimated at 1.25% of the Purchase Price per annum.

Tentative Occupancy

Summer 2014

Prices & Specifications subject to change without notice. E&O.E. May 02, 2012. Admin Last Updating May 12, 2012

 

Price List and Floor Plans  are available upon request.

Important Message: In order for an investor to take the most advantage of Buying Pre-construction Condos is to buy before its open to the public. Prior to opening day of a new condo sales office to the general public, prices may have gone up. This will be an opportunity for you to invest in a unit at the lowest price possible before its open to the public. You can be one of the first purchasers to be invited to Platinum VIP Preview Sales Event long before the presentation centre opens to the public. This gives you an opportunity to have the first access to inventory, best pick at unit levels, floor plans, lowest price not available to the public and the ability to take advantage of Platinum VIP Condo Incentives the builder may offer.  This is a perfect opportunity at the Platinum VIP Price.

For more information and to register now for the Grand Condos Platinum VIP Preview Sales Event please fill out the form below, we can only bring limited customers into the Platinum VIP Sales Event, so pre-register now for priority access:

 

 

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The Manors of Roseview Grand Townhouse

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From the outside, it’s the details that set your home apart from the rest of your neighbourhood. From the inside, the details set it apart from every other home you’ve lived in.

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The manors at Roseview Grand include solid clay brick exteriors with pre-cast band and brick arch highlights. Decorative features and detailing add to the look of the homes, as do your first and third-floor decks that are the perfect escape on a warm summer evening.

Inside, the homes are beautifully built, from the mix of ceramic and of oak hardwood flooring to the smooth-finish ceilings throughout. Tiled bathrooms, luxurious kitchen cabinets and counter tops, Kohler faucets, quality choices of fixtures, handles and more make your Roseview Grand manor a pleasure to come home to.

Features &Finishes

1. Exterior Finishes

  • The vendor to ensure a pleasing streetscape, architecturally controlled exterior colour schemes, elevations, sitings and materials.
  • Solid claybrick with Pre-cast band and brick arches.
  • Soldier coursing, exterior arches, keystones, dormer windows and other detailing.
  • 30 year self-sealing shingles.
  • Maintenance free aluminum soffits, fascia, heritage siding detail, eaves, trough and downspouts.
  • Sectional roll-up wood molded composite garage doors with decorative glass inserts and heavy duty springs (Aluminum).
  • First floor and third floor decks as per plan. Third floor deck to have wood privacy screens.
  • Fully paved driveway including base and top coat. (Two lifts – 1 year apart)
  • Interlock paved border from driveway to front porch and steps with Soft landscape package.
  • Coach lights and decorative address plaque.

2. Doors and Windows

  • Vinyl casement windows throughout (excluding basement windows). Operating windows are screened.
  • Internal aluminum grilles on all front elevations.
  • Solid wood front entry door.
  • Insulated metal entry door from garage to house with steps as required by grade.
  • French doors leading to main floor rear entry and third floor deck (as per plan).
  • Tarnish free brushed chrome finish front door grip-set and brushed chrome finished passage and deadbolts on all rear entry.
  • All exterior windows and doors are caulked and completed with weather-stripping.

3. Interior Features

  • 9’ Ceilings on main floor, 8’ ceilings on second and third floor, and 8’10” in the basement.
  • 7 ¼” colonial style baseboards throughout with 3 ¼” casings with backbend on all main, second and third floor windows, doorways, and flat arches.
  • Pot-lights on main floor, hallways, second and third floor (as per plan).
  • Choice of lighting and door handles – as per vendor’s standard selection.
  • 5” Crown-mouldings installed on the main floor (as well as second and third floor hallways) as per plan.
  • Solid wood doors, with unpainted brushed chrome finish hinges, locks and lever handles (excluding entry doors).
  • Interior doors and trim to be painted white.
  • Interior walls to be painted – purchaser to have choice of two colours – as per vendor’s standard selection.
  • Both trim and walls to be painted two coats of quality Zero VOC paint (including primer).
  • Natural finish oak veneer stairs from first to second floor and second to third floor.
  • Choice of metal pickets or natural finish oak pickets with half round handrails with solid oak nosing.
  • Smooth finish ceilings throughout.

4. Flooring’s

  • Imported ceramic flooring in foyer, powder room, second floor laundry, and all bathrooms – as per vendor’s standard selection.
  • Prefinished natural 4 1/4 ” x 3/4″ oak hardwood flooring on main level (excluding ceramic areas – as per plan) as well as second and third floor hallway and sitting room.
  • Berber or 50 oz carpet with underpad in bedrooms (one colour, no partial areas) – as per vendor’s standard selection.
  • All finished stair landings on oak staircases to have 4 ½” x ¾” natural pre-finished flooring.

5. Bathrooms

  • Choice of lighting and accessories – as per vendor’s standard selection.
  • Imported tiles in all bathtub enclosures up to ceiling as per vendor’s standard selection. Master Ensuite separate shower stalls to include tiles on the ceiling as well – as per vendor’s standard selection.
  • Master ensuite separate shower stalls with clear glass shower door and surface mounted light fixture.
  • Single lever faucets with mechanical pop-ups in all bathrooms, as per vendor’s standard selection.
  • Under mount sinks in all bathrooms except powder room which will include a pedestal sink, as per vendor’s standard selection.
  • Exhaust fan vented to outside in all bathrooms (ultra-quiet).

6. Kitchens

  • Luxurious kitchen cabinets with trim – as per vendor’s standard selection.
  • Granite or marble counter tops with 1 ½” edge– as per vendor’s standard selection.
  • Under mount stainless steel double sink.
  • Valence lighting and valence box.
  • Single lever kitchen faucet with integrated pull-out spray.
  • Choice of backsplash – as per vendor’s standard selection.

7. Laundry

  • Upper cabinets and sink (as per plan).

8. Convenience and Security

  • Cable rough-in in family room, and all bedrooms (RG-6 Cable Standard).
  • Telephone rough-in provided in kitchen, living room and bedrooms.
  • Ethernet rough-in provided in living room and bedrooms.
  • Electrical garage door opener with remotes.
  • All ducts are professionally cleaned prior to occupancy.
  • Rough-in central vacuum system (all pipes dropped to the basement).
  • Door chimes at front door.
  • Monitored security system consisting of DSC power 832 master controls with liquid crystal display keypad, motion detector, and magnetic contacts on all dwelling doors and main and basement windows with the purchaser’s order of monitoring service from builder’s supplier.
  • Smart home wiring included.

9. Natural Gas, Electrical & Plumbing Details

  • 200 Amp electrical services.
  • Copper wiring throughout.
  • Gas fireplace (as per plan).
  • Gas line for stove and barbeque.
  • Weather proof exterior electrical outlets, one at rear, and one at front of house.
  • Electrical outlet located beside electrical panel.
  • Electrical outlet in garage. Extra outlet in garage ceiling for garage door opener.
  • High efficiency natural gas fired heating system (Programmable Thermostat).
  • High Efficiency central air conditioning with heating duct unit.
  • Humidifier.
  • Heavy duty wiring and plug receptacles for kitchen stove and clothes dryer. Kitchen stove vent and clothes dryer vent to be vented outside.
  • Choice of Interior light fixtures from vendor’s samples.
  • Decora switches and dimmers throughout.
  • Smoke detectors and carbon monoxide detector installed and hardwired as per Ontario Building Code.
  • Two exterior water taps located in garage and rear of home.

10. Construction

  • Exterior wall 2 x 6 perimeter walls with R20 Batt insulation with 1” Clad Mate R5 Rigid insulation exterior envelope.
  • Poured concrete basement with heavy-duty damp proofing drainage board and weeping tiles.
  • Poured concrete porch and garage floor.
  • 5/8” tongue and groove sub-flooring (to be nailed, sanded and screwed).
  • Party walls 8” concrete block with painted drywall finish.
  • All finished interior walls and ceilings to be drywall construction.

Deposit Structure: Total $40,000 within 120 Days

  • $2,500 with Agreement,
  • $7,500in 30 Days,
  • $10,000 in 60 Days,
  • $10,000 in 90 Days,
  • $10,000 in 120 Days

Bonus Package – Limited Time Offer

Exterior Features

  • Privacy Fencing in back yards
  • Shed with lighting

Interior Features

  • 7″ crown moulding installed on 4 ¼” x ¾” plank hardwood flooring in choice of stains as per vendor samples
  • Built-in closet organizers
  • Choice of brick pattern option for tiled areas
  • Keyless home pad for main door entry

Kitchen Features

  • Integrated cabinets for built-in appliance
  • Full depth pantry
  • Bank of pot drawers
  • Soft closing doors
  • Extended upper cabinets with crown moulding
  • Light valance
  • Double bin trash cabinet
  • Fully paneled kitchen island
  • Cutlery tray
  • Glass door as per plan
  • Corner cabinet with lazy susan as per plan

Bathroom Features

  • Upgraded maple vanity cabinets with bank of drawers in a choice of style and colours from vendor’s samples.
Prices Subject to Change Without Notice. Last Updating September 28, 2012

Price List and Floor Plans  are available upon request.

Important Message: In order for an investor to take the most advantage of Buying Pre-construction Condos is to buy before its open to the public. Prior to opening day of a new condo sales office to the general public, prices may have gone up. This will be an opportunity for you to invest in a unit at the lowest price possible before its open to the public. You can be one of the first purchasers to be invited to Platinum VIP Preview Sales Event long before the presentation centre opens to the public. This gives you an opportunity to have the first access to inventory, best pick at unit levels, floor plans, lowest price not available to the public and the ability to take advantage of Platinum VIP Condo Incentives the builder may offer.  This is a perfect opportunity at the Platinum VIP Price.

For more information and to register now for this project Sales Event please fill out the form below, we can only bring limited customers into the Platinum VIP Sales Event, so pre-register now for priority access:

 

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Kleinburg Crown Estates

                                

42′, 50′, 60′ & 70′ lots 

Kleinburg Crown Estates is a new housing community currently in preconstruction at Nashville Rd & Stevenson Ave in Vaughan.
The natural beauty of the surrounding vistas is further complimented by an extensive landscaping package available with your new home. Kleinburg Crown Estates is where you can enjoy outdoor living at its best. With backyards large enough to accommodate a pool, hot tub, BBQ area, trampoline, jungle gym and kids just running  around – theres room enough for your family to grow indoors & out.

Builders SkyHomes Corporation, Caliber Homes, Mosaik Homes and Monarch

 
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Posted by on November 8, 2012 in Kleinburg Crown Estates, Vaughan, vaughan condos, vaughan mills mall, vaughan's new hospital, Woodbridge

 

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Centro Square Condos

Centro Square Condos, Liberty Development’s newest condominium development. Centro Square Condos Ideally situated in the heart of Vaughan, at the corner of Highway 7 and Weston Road. Centro Square will add a thriving residential community to one of the 905’s most dynamic commercial/retail corridors. Located at the former site of the iconic Al Palladini car dealership, Centro Square Condos will give purchasers unequalled access to the hundreds of stores, restaurants, cafes and offices that sit adjacent to the site (along both Highway 7 and Weston Road).

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Well served by public transit (with a planned subway extension coming soon), the location is centrally located between Highways 407,401 and 400, which, makes getting anywhere in the GTA by car, VIVA or TTC a dream.

Set on a prime site, the mixed-use Centro Square development will consist of two residential towers joined by a podium, over 100,000 sq. ft. of office space, and approximately 162,000 Sq.Ft. of retail.

Designed by the award-winning teams at Kirkor Architects, and Hefele Makowka Design Associates, Centro Square Condos will, in itself, become of one of Vaughan’s newest destination developments.

Priced from the mid-$200’s, the first residential tower will stand 33 storeys and have 445 suites. Each unit will boast a range of contemporary features and finishes, including nine-foot ceiling heights, balconies and walk out patios (on “garden level” suites).

Featuring modern, functional kitchens, each offers granite countertops, European-style cabinetry, ceramic tile backsplashes and a stainless steel appliance package. Bathrooms will boast marble countertops, ceramic tile floors and tub surrounds, recessed cabinetry in the master bath, and a white acrylic soaker tub.

Rich with amenities, Centro Square Condos will offer residents access to a media room, yoga studio, party room, swimming pool with whirlpool, exercise room, golf simulator and multi-purpose room.

Centro Square Condos Tower A VIP Price List & Floor Plan Available Upon Request

Deposit Structure:

  • $5,000 with Offer
  • 5% less $5,000 in 30 Days
  • 5% in 90 Days
  • 2.5% in 270 Days
  • 2.5% in 360 Days
  • 2.5% in 600 Days
  • 2.5% in 720 Days
  • 5% Due on Occupancy

Parking:

$28,000 per spot (HST inclusive)

Monthly Maintenance Fees2:

$0.49/Sq. Ft., plus Hydro (metered separately) for each individual unit consumption)

Estimated Taxes4:

1% of purchase price per year

Tentative Occupancy4:

September 30, 2015

Floor Premiums: Floor Price Increments vary. Please consult the sales consultants for details.

Suite Features3:

  • Granite kitchen countertops
  • Marble or granite bathroom countertops
  • European-style kitchen cabinets with 36″ uppers
  • Ceramic tile backsplash
  • 4 stainless steel appliances plus washer and dryer (white)
  • Laminate flooring in foyer, kitchen, living/dining room, den & bedrooms (if applicable)
  • 9′ Ceilings

Building Amenities3:

Party Room and private membership in Club Liberty, which includes, exercise room, Multi-Purpose Room, Media Room, Yoga Room, indoor pool, whirlpool, sauna and change rooms, card room, golf simulator, and outdoor green rooftop terrace

Number of Suites: 652

Number of Levels: 33

1Prices and availability subject to change without notice. All areas and stated dimensions are approximate. Actual living area, usable floor space and square footage may vary from stated floor plans. All prices, figures, sizes, specifications, information and choices of vendor’s samples are subject to change without notice.
2Maintenance fees and taxes are approximations/estimations only and are finalized on condominium registration.
3Per Condominium Disclosure and subject to feature and finishes sheet Notes, vendor’s plans and vendor’s samples.
4As per respective Agreement of Purchase and Sale.
©Liberty Development Corporation, 2012. All rights reserved. Brokers Protected. E. & O. E. August 02, 2012.
 

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No sharp dive in housing market says CIBC economist

According to a top CIBC economist, suggesting the anticipated housing decline will not be as sharp or as long as earlier projected because of immigration.

“It turns out fears of a long and sharp downturn in the housing market, are highly exaggerated and very premature,” said Benjamin Tal, deputy chief economist at CIBC. “In fact demographic forces will be supportive to real estate markets in the coming decade.”

Tal predicts immigration, which is responsible for most of the population growth, will be a major force impacting housing demand.

“What’s more, there is significant jump in the home ownership rate among immigrants as they pass the three-year mark,” said Tal. “In fact, after 10 years in Canada, the propensity among immigrants to own a house is higher than among native Canadians.”

While there will be a decline in the number of Canadians under the age of 25 and those between 45 and 54, those age groups account for a relatively small portion of home buyers, Tal writes in his latest Consumer Watch report.

By contrast, the number of Canadians between the ages of 25 and 35 – the age group that makes up the vast majority of first-time home buyers – will continue to rise, the report said.

“From a housing market perspective, what counts is not only the change in population of a given age group, but more importantly, the level of housing market activity among these groups,” said Tal. “In other words, the group that is most likely to buy a house will grow faster in the coming decade.” Source: Brokernews.ca

 
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Condo Prices Grow at Moderate Pace in Q2

Condo Prices Grow at Moderate Pace in Q2

July 18, 2012Greater Toronto REALTORS® reported 6,435 condominium apartment transactions during the second quarter of 2012 – down by 2.6 per cent compared to 6,609 transactions reported in the second quarter of 2011. New listings for condominium apartments were up substantially on a year-over-year basis, climbing by 19 per cent in comparison to 2011.

“The condominium apartment market has been the best-supplied market segment in the GTA this year. Many condominium projects have completed over the past year and this has resulted in a substantial increase in listings and ultimately more choice for buyers,” said Toronto Real Estate Board President Ann Hannah. “The greater degree of choice in the condo market translated into a moderate rate of price growth compared to what was experienced in the low-rise market segment.”

The average price for second quarter condominium apartment sales was $342,212, representing a 3.2 per cent increase over the same period in 2011.

“Sellers seemed to be well-aware of condo market conditions in the second quarter. On average, units were priced in line with buyer expectations, with apartments selling for 98 per cent of the asking price in less than a month’s time,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. 6,435 6,609 Second Quarter 2012 Second Quarter 2011

 

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