In Canada [...]]]> The U.S. Federal Reserve borrowed a play from Bank of Canada governor Mark Carney on Wednesday when they promised to keep interest rates low until at least the end of 2014. This is a good indication that Canadian rates will stay low as well, thus continuing the support of the real estate market here.

In Canada last year, the number of sales increased 2.2% over 2010 and the price of an average Canadian house increased 7.1%! In the GTA, the average house increased 10.8%.  Low interest rates will only cause this upward pressure to continue, just as our Bank of Canada has been warning that some real estate markets are overvalued.

This concern that low interest rates are increasing house prices beyond their reasonable value, will force Jim Flaherty, the Canadian finance minister, to make it harder for Canadians to qualify for a mortgage. He may have to reduce the CMHC insured amortization to 25 years or tweak the mortgage qualification in other ways to reduce the amount of new homebuyers.

I have seen clients choose to look for homes outside of Toronto, or even outside of the GTA, even though they work in Toronto because they consider the prices that homes are selling for inflated.  However, even on the fringes of the GTA house prices have ballooned to the same as they are here in Toronto.  A big drawback is the increased commute and plus out there you don’t get all the amenities like public transportation and availability of shopping like you would in Toronto.  Is there a winner in this situation?

The U.S. Fed also said they are considering printing more U.S. dollars, so expect the Canadian Dollar to raise above parity once again.  This will once again allow Canadians to take some of the equity out of their homes and purchase retirement homes in the sun.  Places like Arizona, Texas and the Mayan Riviera are sure to benefit.

Artist Concept

your favorite city amenities as well as transportation access points.  It, like Lago Condos I wrote about earlier, has dramatic lake views, being along the Martin Goodman Trail.

Luxury finishes are standard [...]]]> The York Harbour Club is a condo development in Liberty Village close to downtown Toronto. Its great location means it is close to

Artist Concept

your favorite city amenities as well as transportation access points.  It, like Lago Condos I wrote about earlier, has dramatic lake views, being along the Martin Goodman Trail.

Luxury finishes are standard with every suite and include granite countertops a choice of marble or porcelain floors, deep soaker tub, and more. If it were up to me, I wouldn’t pick the marble; it is a nightmare to keep clean. The building itself has 24-hour concierge, exercise room, outdoor pool, BBQ terrace, party room, billiards room, as well as guest suites.

The complex should be completed by the end of 2013 and not only has condo apartments, but luxury townhouses that start at $905,000 and also suites designed for entrepreneurs or those who work from home, called Live-Work Suites.

Live – Work Suites

Live Work Suite

Live Work Suite

(click the images for a bigger view)

The differences between the two floor plans are very miniscule.

One Bedroom Suites

One Bedroom plus Den

Here the inclusion of the den really improves the versatility of the units. In the first example, there are now also two bathrooms. In the second, the interior space is opening up. In both cases the den is far away from the bedroom, giving those in the two areas greater privacy.

Two Bedroom Plans

 The design philosophy is continued here, the two bedrooms are once again as far apart as possible from one another and they all are equipped with two bathrooms.

Two Bedroom Plus Den

		The flow of the units, even though are getting larger, they are still centered on the kitchen and living room. Depending on your lifestyle the variations allow you to focus on the kitchen and all the other rooms connect directly from that space.  Another variation takes the idea that the den and bedrooms should be as far apart as possible. No matter what you choose. All of them offer a great balcony or veranda and thoughtful ways to enjoy it.

These last two are the reverse of each other.

Townhouses

Ground Floor

Level 2

Level 3

I am not a big fan of the ‘three level townhouse’ in general, there are too many stairs for me, and I get tired too quickly.  Maybe if I was an athlete it would be fine.  I could train even at home. The other thing I don’t like about these types of units is that they are usually very dark inside.  In most cases, for me there is nothing luxurious about them.  The builder here has made an attempt to resolve some of these issues. In this plan, you come home, and end up right where you want to be, the kitchen! Upstairs we have a nice sized bedroom and den, with a walk in closet and ensuite. The laundry is here too. Finally on the top level we have the master suite.  It has a bathroom and a large walk in closet. The only thing that troubles me is that the bathroom is in front of the closet.  Every other time I have seen a walk in closet it is always beside the ensuite bathroom or in front of it.  In this case you have to walk down a little hall to get to your clothes.  I think it would have been better just to split that space down the middle.

This variation takes the same ideas, first level, kitchen: great! Second level, they’ve put the laundry room further away from the bedroom and den, which I like much better.  But, what’s this on the third level here? The walk-in closet now is on the other side of the house.  Is it only me that finds that bizarre? Townhouse lovers please tell me – is that what you want? Maybe I’m not part of the club.

Ground floor: I love it. We have efficient use of the big space. Second floor the angles are a bit odd, but I think I could get used to it. Third floor: I suppose it’s a His and Hers walk in closet now. I guess the wife would get the closer closet, and the husband will have to walk to the other side of the house to get his clothes.

These last two are basically the same design. So, lets look. First floor, yes, its good. Second floor: looking good! Third floor: YES! YES! THANKYOU! This is what I want! Someone understands me! Thank-you!