Dear Matt: Looking at buying my first place.... Lawsuits?!

Have a question about real estate that you would like answered? Email Matt directly Matt@MattRichling.com.

Dear Matt,

I'm looking at buying my first condo in Ottawa and my search keeps bringing me to a particular building. I love the central location and the prices aren't as high as the new builds I've seen. I have been told that it has a lawsuit against the builder, any idea on that?

I'm wondering if you have any more information about situations like this and weather it is a bad idea to bad in a building that has a lawsuit or other issues.

Thanks,
Taylor

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Hi Taylor:

Right off the bat, talk to your lawyer. If/when you decide to move forward, you will include a condition in the Agreement of Purchase and Sale (APS) that allows your lawyer time to review the status certificate and documents. During this period, you will be able to find out much more detailed information about the condo corporation, building by-laws, financial history, and any projected increases in fees, among other things. 

HOWEVER. Lawyers are hired by you, to save you from any trouble. Think guardian angel sorta domain. So when it comes time to choose your lawyer, be very picky on who you have standing in your corner. Ideally you want someone who is local, who is not afraid to tell you the issues, but is able to remove judgement from the issues and not scare you. Great example is also the building inspector, who is also working for you to find issues and give you information. A good building inspector can tell you all the issues without saying personal judgement - "Don't buy this", "I love this builder", These renovations look horrible",  "I would live here" etc. You want facts. Not emotion. A good lawyer will tell you the facts without trying to scare you. 

That being said, purchasing a unit while knowing that there are issues in the building is a risk. Lawsuits are not "cut and dry" and it can go either way. It can be resolved and the building/condo corporation gets what it wants, or the builder can win and certain costs could be picked up by the owners in a special assessment or increase in condo fees.

You need to fully understand the issues, get the facts, listen to the professionals who you hire to look out for you, and know if you are comfortable taking a risk like this or not. 

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Ottawa Condo Rentals Up Almost 40 Per Cent in 2014

It was a great year for Ottawa condo rentals, seeing 1,044 units leased through the MLS in 2014, which is up 37% over 2013 and 79% over 2012. The condo market is a healthy portion of the total rentals across the city, accounting for 41% of the 2,551 rentals for of all residential property types in 2014. Total residential rentals are up 22% from the 2,091 in 2013, and 53% from the 1,664 in 2012.

The average rent for an Ottawa condo did not see much change dropping from $1,660 in 2013 to $1,658 in 2014. The average rent for all property types in 2014 was $1,740 which is up almost 1% from $1,727 in 2013.

We saw the average prices of rentals peak at $1,877 in 2009 for all property types,  and $1,796 in 2008 for condos. Each year since, we have seen a slight decline in average rents while the number of units rented has continued to grow (except in all property class where it hit a low in 2013).

Why? Since the Ottawa Real Estate Board does not include a spot for square footage, I am not able to include price per square foot or average unit size. However, based on what we are seeing in the local market and across the country, condo units are getting smaller which lowers rents. We are continuing to see the amounts of units rented increase year over year, with only a slight decrease in price. This helps to prove the demand for rental properties in Ottawa continues to be strong enough to absorb the amount of new supply. Also, it is important to note that the Ottawa condo rental market is only 5% of the total condo rental market for Toronto which had 22,765 condos leased in 2014 through the MLS.

Are you looking to rent out your pre-construction condo here in Ottawa? I would love to help. I have been able to help many clients with purchase and rentals at Urban Capital's Central, Mondrian, and East Market buildings, with Brad Lamb's SoBa and Gotham buildings, Claridge's Claridge Plaza phases, as well as other Domicile, Charlesfort, and Richcraft buildings - among others. If you are coming close to your PDI and occupancy date, don't wait - lets chat and get your unit rented.

10 Tips for Hosting a Holiday Party in Your Condo

photo: rpavich/Flickr

Your tree may be artificial and you may lack a mantel on which to hang the stockings with care but hosting a holiday get-together in a condominium is entirely possible, according to event planner Kristina Chau of Not Your Average Party. Here she provides 10 tips on small space entertaining.

1. Give your neighbours and doorman advance warning — they’ll be less likely to complain. “Noise can definitely be an issue so be conscious of the time and on what day of the week you’re hosting the party. Be respectful to your neighbours by letting them know ahead of time, or, if you have a good relationship, invite them. In most cities, noise is permitted until 11 o’clock — after that it’s time to turn down the volume.”

2. Don’t go overboard with the guestlist. “Be realistic in terms of the number of people that can fit into your condo. There’s nothing worse than having an overcrowded space, which will also contribute to more noise. If you do wish to have a large guestlist and your condo has a party room, consider renting it. It will cost more, because you’ll have to pay a damage deposit and for extra security, but you’ll be less likely to have noise complaints if your guests are in a contained space, away from other residents.”

3. Utilize alternative seating to maximize space. “I like the casual style of standing with a mix of a little seating — but not too much. You want people to be able to flow and mingle. Cocktail style parties work best in condos, where you can make use of a dining room table or an island as a communal food table for people to stand around. Floor cushions, ottomans and folding chairs work well for extra seating.”

4. Spike the punch bowl. “Punch is one of the greatest beverages for this time of year — it’s a time saver because you can make it in advance. I like to use fun, seasonal ingredients that add festive color like cranberries, pomegranate and blood orange. Again, always consider the size of your party — if it’s really intimate, you can make personal cocktails for your guests and have a customized menu. But if it’s a bigger party, consider hiring a mixologist. The key is simplicity, because you’re going to be running around the condo all night. Also, don’t forget to have a mocktail version of whatever you’re serving for those who don’t drink.”

photo: brian/Flickr

5. Send out invitations early. “I’m not an etiquette stickler but it is a good idea to give plenty of advance notice, especially this time of year. Even a month ahead is warranted because people are super busy. Online invitations are great because they’re easy to make and allow you to manage the guestlist. If you’re hosting a dinner party, you can ask guests about their dietary restrictions. This is extremely helpful because there’s always going to be someone in the mix who doesn’t or can’t eat everything. I like to use Paperless Post, Greenvelope, Punchbowl and Evite.”

6. Be prepared. “Think of your menu in advance and go shopping at least a week before. Then, you can spread out the food prep over a few days — you don’t want to concentrate all of the cooking on the day of the party.”

7. Deck the halls, but not too much. “Keep the decor minimal. Pick a theme and stick to it. Personally, I like to choose a color scheme and integrate it into the accent serving pieces — whether it’s napkins, servingware, tablecloths, etc. Minimalism is key because if you have a small space, you don’t want it to be cluttered with a lot of decor.”

8. It’s okay to forego the traditional tree. “With condos, sometimes you can’t fit a full-sized tree into your space. I’ve seen a lot of table-sized trees this year, which are super cute and only about $20. There are many great alternatives out there.”

photo: velo_city/Flickr

9. Chill your beer outdoors. “If you have a balcony, make use of that space! It’s cold out this time of year, so put your beverages outside to chill. Condos only have so much space in the fridge.”

10. Take care of yourself. “As a host, it’s important to get plenty of rest the night before and to stay hydrated. You’ve got to be ‘on’ until the last guest leaves, it’s your job — whether you’re topping up drinks, refreshing the food, or introducing guests to one another. You want to make sure everybody is having a good time, but for you to also enjoy the party you’ve got to be rested, prepared and hydrated.”

If you’d like to learn more about Kristina Chau and her event planning service, Not Your Average Party, visit notyouraverageparty.ca.

Originally posted on Buzz Buzz Home.

Looking Ahead to 2015 in Ottawa

As the snow starts falling, and the days pass... we realize that 2015 is almost here. Lets take a quick look ahead and what some of the major players are predicting and what it means for someone looking to make a move in the new year.

The Canada Mortgage and Housing Corporation is predicting:
- Increase of 1.4 per cent for sales price of new construction single detached homes.
- Decrease of 2 percent for new home starts
- Increase of 0.8 per cent for sales price of resale properties (both residential and condo)
- Increase of 1.8 per cent for average rent of two bedrooms
- An increase of 0.2 per cent for rental vacancy
- Decrease of 0.7 per cent of MLS sales (both residential and condo)

RE/MAX Ontario Atlantic is predicting:
- Increase of 1.6 per cent for average residential price
- Lots of inventory or "excellent selection" in the condominium market
- In 2014 sellers were optimistic and overpriced properties, which pushed days on market. This will impact 2015 with continued increased DOM and more selection for buyers, but will balance out with fewer housing starts.
- Nationwide residential sale price to increase by two to three per cent in 2015 

Overall, while we will not see any crazy gains in price, we will see a slow and easy gain through 2015. More properties are and will be on the market, so sellers need to be more accurate with pricing (NOT OVERPRICED), and buyers will be able to have more selection. Again... Note that CMHC says there will be more listings, and fewer sales - it is more important than ever to have your property priced right, and marketed to its full potential!

Click here for the full CMHC 2015 Ottawa Prediction report.

Click here for the full RE/MAX 2015 Housing Market Outlook Report.

If you have any questions about buying, selling, or the market in general - I would love to chat!

SoBa - Free Condo Fees

**For more information about SoBa Condos, check out the dedicated section with regularly updated construction and sales information. CLICK HERE to view.**

SoBa Ottawa announced today that they are offering free condo frees for two years to any new purchases. A promotion like this usually comes as a reduction of unit price or a cash back on closing.

Looking to find out more about SoBa Ottawa or purchase a new condo in Ottawa? I would love to help. Contact me by filling out the form below.

Which Ottawa Condos have Pools?

Indoor pool for the owners at 200 Rideau St and 234 Rideau St, built by Claridge

While it might seem like the amenities rarely get used in a building, for those that take advantage of them, its like adding extra rooms onto your condo for free! (Well... yeah you pay for them, but still)

Lets look at which condo buildings around Ottawa have pools!

Claridge (especially lately) has been a big believer in amenities and nice big pool areas. Take a look at  Claridge Plaza (phase 1-4), La Tiffany (phase 1 and 2), Lebreton Flats (250 Lett),  Tribeca (pool under construction), and eventually Claridge ICON (est 2018), etc.

Urban Capital has started including resort styled pools with The Mondrian (324 Laurier) and the Hideaway (on Mcleod). 

Mastercraft Starwood, known for high quality amenities includes pools at SOHO Lisgar (300 Lisgar) and soon SOHO Champange. SOHO Parkway only gets a rooftop hottub with some of the best views of the city... (sarcasm...). 

Richcraft has built a few pools including, The Galleria (200 Besserer), The Galleria Phase 2 (238 Besserer), The Laurier (570 Laurier), and soon to be built The Bowery.

Other central buildings with pools include 90 George St, 160 George Street, 199 Kent, 500/530 Laurier Ave, 470 Laurier Ave, 556 Laurier Ave, 151 Bay, 20 The Driveway.... etc. The list goes on.

Currently we have a few units available with pools including, Claridge Plaza (234 Rideau Unit 1005, Mondrian (324 Laurier Ave Unit 2209) and two units at Tribeca (179 Metcalfe)! 

If you enjoy taking a dip and are looking for a condo with a pool in Ottawa, lets chat! I would love to help you out!

Click To Contact Matt Richling

Ottawa Pools

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Banks Unsure of Micro Condos?

With the recent launch of Smart House Ottawa, and as more micro condo units are being built, buyers are excited for moving into these new spaces... However, if they can move in will be another storey. We are hearing rumours that banks and other lenders are not approving financing for these micro-condos. 

Representatives from the Big Five banks have all said they have rules on their financing policies that restrict approving mortgages that are under 500sqft. Up until the last few years, micro condos or bachalor studios were few and rare. With the shift in size, the lenders are being cautious and want to make sure they "understand" them. 

While this policy for minimum size is a requirement, every application is reviewed on a case per case basis. I have sold multiple units over the past few years that are under 500sqft and a few dozen that were under 600sqft, all without size issues by the lender. While we have heard rumours here in Ottawa, we have not seen any first hand accounts where the mortgage was declined due to size.

So What Do I Do?

Before you sign the Agreement of Purchase and Sale, ensure you have a financing clause, and have consulted a mortgage broker. Make sure they have the green light before moving ahead with the purchase and that they have the correct sqftage. Last thing you want is an issue on closing day.

Examples of Small Units in Ottawa?

There are two units per floor inside Mondrian (324 Laurier Ave at Bank, 2009) that are under 500sqft and another three units that are under 600sqft. The East Market (180 York, 383 Cumberland, 179 George, 2001-2007) has six units per floor that are under 500sqft, and another eleven per floor that are or under 600sqft. 

Are you looking to buy or finance a micro condo and want some help? I would love to chat...

Written by Matt Richling

Matt is a licensed salesperson at RE/MAX Metro City Realty in Ottawa, Canada. Matt loves helping sellers and buyers find the perfect home that fits their lifestyle. 

2014 Sammy Awards Results

Taken from a Richcraft promotional piece following the recent win. 

There has been lots of excitement over the past year, with much more competition between builders means more effort into marketing, sales, and design. The Sammy Awards are held by the Greater Ottawa Home Builders Association every year, for local builders and industry partners.

Richcraft Homes was the big winner, taking home the Grand Sammy for most awards. They won Best Print Advertising for a Builder (The Bowery Condos), Best Builder Sales Centre (The Bowery Condos), Best Marketing Campaign (The Bowery Condos), and Best Builder Brochure (The Bowery Condos).

Claridge Homes took home Best Condo Model for a High Rise (the Tribeca Broadway unit), Best Builder Website, and Best Town Home Model over 1,500sqft.

Minto Communities also won with Best Project Logo, and Most Environmentally Friendly Builder. 

For a full list of winners, visit here. For more information on the Sammy's visit here.

Summerhill at Dow's Lake - Redesign Coming

Samcon, was originally building a six storey, 39 unit concrete building, named Summerhill at Dow's Lake, but has recently decided to redesign the project due to low demand.  The project was to be located at 557 Cambridge Street South, and was expected to be completed in 2016.

Today Samcon has announced that: "With a low demand for the product we were offering. Samcon has decided to redesign the project with something that would attract more people. So far the direction we are leading towards is a 5 storey wood construction with approximately 60 units. We will offer beautiful finishing on the interior and exterior and a very affordable price. The units will mainly be 2 bedrooms in the 635sqft to 850sqft range with a some 1 bedrooms as well. The presentation center will be closed temporarily until we complete the redesign process."

Samcon is an established condominium builder in Montreal. With nearly 25 years of experience, 13 active projects in Montreal, over 75 projects complete and over 4000 condos sold. A 97% customer satisfaction rating has earned them 10 Domus awards including 4 time Builder of the year Award. 

Looking for a pre-construction condo in Ottawa? Have some questions? I would love to help!

Contact Matt Richling

Summerhill

Bowery Condos - Construction Started

For the past few weeks Richcraft has been blasting away at the site for Bowery Condos, located at 255 Bay Street at Gloucester Street. Currently the building sits at 25% sold which is just about 60 units. Exciting to see things moving forward for the project.

Here is a run through of the Bowery building I did when it first launched.

Sales website: http://www.thebowerycondos.ca/

Questions about Ottawa Condos or Bowery? Click to Contact Matt Richling

Bowery Construction Update

Ottawa Citizen Article - Condo Roundup - Take Aways

The Ottawa Citizen published an article today about the condo market in Ottawa, along with some insider forecasts on the current and future market. You can read the full article here. I have summarized the important take aways, then going to run through exactly what it means for buyers, sellers, and everyone else. 

Coles Notes:
- CMHC reports lowest condo construction starts this year since 2009.
- CMHC says the unsold inventory is to blame
- CMHC forecasts another smaller decline in 2015, then rallying back in 2016
- An industry analyst (from PMA Brethour Realty Group) predicts condos will represent ~18% of sales in 2014, compared to 25% in 2013, 29% in 2012.
- PMA blames poorer job prospects, and more cautious first time buyers, and investors are buying less than previous years, are maxed out, or scared by still-increasing prices.
- PMA sees condo sales increasing over the next year when first time buyers return to market. 

What exactly does this mean for those looking to buy in Ottawa?

Donald Trump is famous for saying you make money in the buy, not the sell. During the meltdown in the USA, Warren Buffett was advising to buy residential real estate before prices went back up. Over the next year or so, CMHC along with other analysts, are expecting the market to continue to soften, and then start to rise again. If you are in the market to buy, there is no better feeling then knowing the prices are going to lower (allowing you to buy low), and then rise. Obviously, you want to take your time and find the perfect place, at the best price, that suits you and your future. *NOTE* Plan on holding your property for at least three years, (preferably five), other wise the costs will outweigh your benefits. So think hard and long about your future or if uncertain, at least look at units that can cover the costs by renting it out. This also means the style of property. Are you dating? Chances are that 500sqft unit wont work for the future couple. Want a dog or kid? same thing. Think ahead and save yourself down the road.

What exactly does this mean for those looking to sell in Ottawa?

Certainly not great if you purchased your condo since 2009 and are looking to sell in the next year or two. You have more competition, and harder pricing. You will need to make your property stand out among the rest, and be willing to work with a buyer for a sale. ***Chances are, you have/will never heard/hear an agent say this but....*** if you can hold out, do it. Wait it out. This is the opposite of what we are "supposed" to say, but this is your largest investment - treat it as such. While you wait, the mortgage is getting paid down, and you will have more room later on. THE FLIP SIDE of this, if you need to sell, take the hit now (hopefully as small as possible), and find a great deal that will have a better return. 

What does this mean for those who are just checking in, with no immediate plans to buy or sell?

Don't panic. Everything goes up and down, and while we have seen a slow but constant increase, corrections are due to happen. Re-evaluate your life plan and see how your living situation will fit in the property over the next four or five years. Then try and plan accordingly. 

Do you want to chat about planing to buy? Or make a plan to reduce the hit you will take when selling? I would love to help you out, click the button below.

Click Here to Contact Matt Richling

Citizen Article - Condo Market 2014

Written by Matt Richling

Matt is a licensed salesperson at RE/MAX Metro City Realty in Ottawa, Canada. Matt loves helping sellers and buyers find the perfect home that fits their lifestyle. 

Main Street by Domicile - History Lession

Sacred Heart Convent, 2000 - From History Of Ottawa East

Domiciles next project to launch will be located in Old Ottawa East, at 141 Main Street. The two building, five floor, 140 unit project, will be located on 3.5 acres between Oblate and Springhurst. The current building, a convent named "Sisters of the Sacred Heart of Jesus" or "Les Soeurs Du Sacre-Coeur De Jesus", dates back to 1902.

At the request of the Oblates Fathers, five sisters arrived in Ottawa from Brittany France to provide domestic services. Then in 1911, five townhouses, a boarding school, and a small convent was built. The original convent was destroyed by a fire in 1913 and the present convent was rebuilt a few years after. The Sisters adapted to the Canadian culture and began teaching syllabus to local students. It quickly grew to over 200 students and had numerous additions and wings built. At its peak in 1961, there were 246 Sisters living, and working at the convent. Ceasing to train new members in 1995, the convent presently remains home to 79 Sisters.

The property was purchased by Domicile on January 3rd, 2014, who has committed to allow the sisters to stay in the convent indefinitely.

For a more detailed read, check out the History of Ottawa East page.

Main Street by Domicile

Located at 141 Main Street, between Oblate Avenue and Springhurst Avenue, local Ottawa builder Domicile, will be launching the next project called Main Street. Currently a convent, Sisters of the Sacred Heart of Jesus/ Les Soeurs Du Sacre-Coeur De Jesus, dates back to 1902. Still in use today by 79 Sisters who call it home, with many working outside the convent in teaching and nursing positions. Domicile purchased the land on January 3rd, 2014, and is committed to keeping the Sisters in the convent indefinitely.

Domicile is looking to construct in two phases, the first being the rear building on Oblate and second phase which will front on Main. Phase one will be a six storey building located at the east end of the property with approximately 70 units ranging from 600 to 1250sqft. Phase two is located at the west end and will contain another 70 condo units.

In addition to the residential condos, there will be about 1,485 square meters of retail space for nine or ten smaller shops and restaurants.

Domicile is looking to start selling early in 2015, with construction start later the same year and occupancy planned for spring/summer 2017. 

Features of the building include:

• Smoke Free (as is the last five Domicile projects)
• Our Extended Warranty – one & two year coverage is extended to 4 years (first builder to 
• offer this)
• Roderick Lahey Architect
• Guest suites
• Fitness facilities
• Roof top terraces
• Interior courtyard off Springhurst.
• Private 5200 SF park, inspired by Greeley Park in Manhattan

Ariel View of 141 Main Street - Harley613

Claridge ICON - Building Update

Yesterday Claridge Condos tweeted that "Our #ClaridgeIcon sales centre has moved to 200 Lett Steet. BRING ON CONSTRUCTION!" This is great news for those standing behind the future tallest tower (45 stories or 420ft) of Ottawa. Quoted in a recent Ottawa Citizen article, Bill Malhotra (founder and president of Claridge Homes) said that 71 of the 320 units (22%) in ICON have sold, which includes half of the penthouse units. 

ICON will be located at Preston and Carling, where Little Italy meets Dow's Lake. The building will house a restaurant on the main floor; the next two levels will be Claridge offices; and there will be a party room, yoga room, guest suites, a billiard room and a swimming pool for residents. 

Construction is set to start December 1st, 2014. Occupancy is set for December 3rd, 2018. 

NUOVO - Building Cancelled

With the recent slowing of sales, Domicile has decided to cancel their newest Little Italy condo building, NUOVO. We last posted that sales for the building were sitting at 20%, they had signed La Bottega Nicastro to be a grocer in the main floor, and they were pushing to start digging March of 2015. However with the amount unsold, and with the number of buildings launched and under construction in the area, they had to make a choice. Over the last few days, deposits for the units have been returned, the website has been taken down, and all mention of the project has been removed from their website.

We are a fan of Domicile; their quality of work, and the customer service is top notch. They have said that they will be focusing on the next project on Main Street. 

Below was the overview of the interactive application that was inside the NUOVO sales centre.

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Sixty Second Profile: The Modern Shop

We got a chance to sit down with Michael Shaikin, the man behind The Modern Shop. Known as the place to go for fine modern lighting, furniture, and goods, from the best brands across the globe.  Walk inside (or browse online) and you'll remember exactly what it felt like as a kid on Christmas Morning.

Visit: 541 Sussex Drive, at George Street AND www.TheModernShop.ca

Fact: The kitchen pendant at 124 Pretoria Ave., was aquired through The Modern Shop

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Can you describe The Modern Shop?

Modern Shop is a modern design store in Ottawa Canada, that specializes in products that you can’t get anywhere else. We are proud that the things we carry, can't be found in other stores in Ottawa, and very few stores in Canada. [Note: Many brands they stock are ONLY available through Modern Shop in Canada!]

How did Modern Shop start?

I had a store that sold vintage furniture called Found Design. Then wanted a change and I started a new store called Modern Lighting. People kept asking for other things inside the home, so after three or four months changed the name to Modern Shop.

Then moved locations from Bank St. in Old Ottawa South, to Sussex Drive in the Byward Market?

Yes, well we were not getting the foot traffic we wanted, so moved to Sussex and George in Spring 2013 and love it.

What are some of the brands that you currently carry?

There are over 80 brands that we sell now, and some that are more familiar would be Moooi, Modernica, Norman Copenhagen, Hay Denmark, Foscarini, Muuto, and it goes on.

How do you keep finding new and unique things for the shop?

Well we travel quite a bit, especially for trade shows, was in Stockholm two years ago, Milan last year, Paris this year, plus New York City every year. This gives me the ability to see the up and coming guys that no one gets to really see, then you start to get a feeling for who is going to make it or not. I also will grab brands that no one has heard of, some of them are a hit, some are a miss.

What is your favorite product that you carry?

Urbanhike by Moooi

Well… My favorite product isn't here now, I took it home [laughs]. It’s called the Urbanhike by Moooi, and I have mine sitting beside my couch. Second…. its that [points] yellow coffee table by Hay, which is very unique and brand new. [So new I can’t find it on the Hay website]

You are also pretty big online, how has that been received?

Its crazy. It is like 75 percent of the business now. We sell across Canada and all around the world. We are able to showcase great unique products that are hard to find, and then offer them shipped right to your door.

Any big names, or recent projects?

Won’t mention celebrities, however In Ottawa we recently were involved with the new Shopify offices, the lighting at Fauna restaurant, and did the Zendesk offices in California. Those were all fun.

Some people call Ottawa dull or boring, thoughts?

Not at all. Just look at all the events and restaurants that have opened. It is certainly not what is was a few years ago, the city is moving forward.

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SoBa Condos - Construction Delayed

**For updated information about SoBa Condos, check out the dedicated section with regularly updated construction and sales information. CLICK HERE to view.**

Just got word that the construction for SoBa Condos will be delayed until spring 2015. Originally SoBa was scheduled to have the sales centre removed and the digging start earlier this year, however it was pushed back till late summer. Multiple reasons for the delay, but mainly Lamb Corp. is waiting on the permits from the city before they can begin. Keep in mind for those who have purchased, the last day they can deliver the condos (as per the Tarion agreements) is November 29th 2017.

If you are interested in purchasing a unit at SoBa, they are currently offering discounts on the latest pricing (prices went up before sales centre was to close) ranging from $9,000 to $41,000 off depending on the unit. For a full price list, click on the button below.

Click Here to Contact Matt Richling

Soba

Bought our Ottawa home, When do we get the keys?

Papers are signed, deal is done, inspector has gone through.... Congrats!

As the days get closer, you will start to plan the move, and life at your new home. Things like moving company, internet, and any renovations, will all need to be co-ordinated in advance. Most of this planing will revolve around the house and having access to the house - aka needing the keys. When exactly will you get the keys in Ottawa?

The biggest mistake that first time buyers make, is booking things for closing day. 90 percent of the time, you wont receive the keys till the afternoon, or most likely 3pm till 5pm. That is if the deal closes when it is supposed to (keep in mind that there are many reasons why it might not close on time). This means do not book Rogers to hook up the internet on the afternoon of closing, because if you don't have the keys, chances are the next open appointment wont be for a week (at least that would be my luck).

Moving companies are a little different, and are used to the process. Make sure to be clear and let them know when you should expect the keys and best to book them for after 5pm, depending on traffic etc. I would always prefer to have a little time before the movers get there to look over the house and enjoy it.

If you can, try and take the day off work. There will be enough stress, that the last thing you need is a work deadline, or annoying co-worker.

Good luck!

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Written by Matt Richling

Matt is a licensed salesperson at RE/MAX Metro City Realty in Ottawa, Canada. Matt loves helping sellers and buyers find the perfect home that fits their lifestyle. 

What to expect on closing day in Ottawa for a first time buyer!?

First of all, congratulations on getting this far.

If you are like me, you are probably reading this the night or so before closing day, and are trying to figure what your upcoming day will be like. Well the good news is that most of the possible issues or problems have most likely already happened, or out of your control.  What that means is, you shouldn't find out on closing day, that you didn't get financing (that was the week leading up to closing!). So... GO TO SLEEP. No point in being tired and cranky!

Most likely you have either signed the paperwork already (a day or two earlier) with the lawyer, or will be doing it all on closing day. They would have set up a time for you to come in, and would have told you the amount that you will need in a certified cheque or bank draft. This amount is always more than you think it is going to be (closing costs, lawyer fee's, etc), so do NOT guess it. They will tell you exactly what it will be. If there is a difference in the amount, the lawyer will send you a cheque after closing with all the closing documents. Make sure to bring ID, and anything else that they have requested from you. While going through all the paperwork with the lawyer, don't feel rushed. Make sure to ask for clarification, or to have the lawyer run through it with you. Everyone makes mistakes and better to catch them now, then find out later. Also helps you better when you understand what you are signing and why.

Once the paperwork is signed, the lawyers need to send the funds, register the sale, etc. Legally the lawyer is not able to release the keys until everything is completed. Usually this is sometime in the late afternoon, 3pm-5pm. Since the registry office (yes... it is all online now) closes at 5pm, they will rush to do it last minute or have to wait till next day. What this also means, is don't plan on moving in, mid-day. Many people will book the internet to be installed, and then find out they don't have the keys yet. Best to schedule everything the next day, when you are more likely to have the keys.

If you are closing on a work day and won't be able to sign or grab the keys, let everyone know this. Let your agent and your lawyer know, so they can make alternate arrangements. Most law offices close at 5pm, so would suck not to be able to get the keys!

While it can be stressful, try and enjoy the experience. It is all part of the process of home ownership!

Questions about what to expect? Click on the button below to contact me, I would love to help!

Click To Contact Matt Richling

Closing Day

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Written by Matt Richling

Matt is a licensed salesperson at RE/MAX Metro City Realty in Ottawa, Canada. Matt loves helping sellers and buyers find the perfect home that fits their lifestyle. 

Top three Ottawa condo buildings for Young Professionals

As a young professional who is working and living in Ottawa, only the best will do. Work hard, play hard is more than just a saying for you, it's your way of life. Last thing you want, are constant complaints from your neighbour because the walls are too thin, or issues with the condo board. With over 900 condo buildings across Ottawa, we have narrowed this down to a select few. 

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3. Mondrian Condos - 324 Laurier Ave. West

Mondrian, with its "rooftop" (6th floor) outdoor pool, complete with Miami-esq cabanas, large party room and concierge has been the choice of YP's looking for a place to call home. The units them selves are open concept and modern with floor to ceiling windows, exposed concrete pillars and columns, and decently sized. Great location for those working in the downtown core.

Location: 324 Laurier Ave. West, at Bank st.
Builder: Urban Capital (Toronto)
Year Built: 2009
Conceirge: Yes. 9-5 with security nights and weekends
Pool: Yes, Outdoors. Not for lap swimming.
Party Room: Decent sized with large sitting area, kitchen, dining table, TV, and pool table.
Gym: Yes 
BBQ: Yes, shared. Also has outdoor dining table. Electric BBQ's allowed on unit balcony.
Parking: Underground, and heated
Balconies: All units, except two per floor that do not ("07" and "08")
Elevators: Three high speed
Visitor Parking: None in building, paid lot beside entrance.
Demographic: Full mix
 

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2. Central Condo Complex (all three phases) - 354 Gladstone and 349 McLeod, 360 McLeod, and currently under construction Hideaway

Central Condos is a mix of three phases, 354 Gladstone and 349 Mcleod make up phase one (two addresses allow the large U shaped building to have two entrances, mailboxes, etc.), 360 Mcleod which is phase 2, and the third phase which is under construction called Hideaway. Same feel and flow as the Mondrian, but 4 years newer, and reflected in the updated finishings throughout the building.  

Location: Bank st, at Gladstone St. and McLeod St.
Builder: Urban Capital (Toronto)
Year Built: 2012, 2014, 2015
Conceirge: Yes. Each phase has its own, 9-5 with security nights and weekends
Pool: Outdoor pool in Phase 3, for residents of phase two and three only.
Party Room: Each phase has independant room. Decent sized with large sitting area, kitchen, dining table, TV, and pool table.
Gym: Yes 
BBQ: Yes, shared. Electric BBQ's allowed on unit balcony.
Parking: Underground, and heated
Balconies: Yes, few floor plans per building without
Elevators: Two high speed per building
Visitor Parking: None in building, paid lot beside entrance.
Demographic: Mix, 20-40yrs old

1. SoHo Lisgar - 300 Lisgar

SOHO Lisgar is Ottawa's second for Mastercraft Starwood. Located at 300 Lisgar, the building is very central being just off Bank St. and only a few blocks from downtown offices, Elgin St, Byward Market, Little Italy and Chinatown. The high end finishes, quality design, and first class amenities are what one would expect with the Mastercraft Starwood name.

"Timeless design, well thought out living spaces, style and flair are SoHo’s signature. We used the same high quality materials and standards demanded by our boutique hotel clientele – well-heeled jet setters, movie and rock stars, and C-level executives (CEOs, CFOs, COOs) – who demand living spaces equivalent to the comfort of expensive homes. For example, marble bathrooms with large shower stalls and rainshower head, a handshower with diverter, Floor-To-Ceiling and all-To-Wall Windows©, European appliances and Quartz countertops.

A kitchen designed with fine cabinetry you would find on a yacht or private jet, with an island, and kitchen appliances concealed behind lacquered doors. Backsplashes with glass tile and a stainless steel sink with side mounted faucet finish this stunning kitchen. 

Gluckstein designed each luxury condominium floor plan at SoHo Lisgar to accommodate fine furnishings to suit every taste and temperament. Living areas are designed for entertaining, up to 20’ wide, not the typical 10’ wide living room found in other condominium developments." (taken from developer)

 

Location: 300 Lisgar Street, at Bank Street
Builder: Mastercraft Starwood (Toronto)
Year Built: 2013
Conceirge: Yes. 
Pool: Yes, Outdoor pool plus hot tub.
Party Room: Yes, including high end chefs kitchen (Wolf Range, Fisher Paykel Fridge)
Gym: Yes, plus sauna
Theatre: Yes, separate room.
BBQ area: Yes, shared. Electric BBQ's allowed on unit balcony.
Outdoor Entertaining:  Yes includes an outdoor Kitchen and fire pit.
Parking: Underground, and heated
Balconies: Not all units.
Elevators: Two
Visitor Parking: Yes
Demographic: Mix, 20-50yrs old

Honourable Mention - 90 George

Built by Canril Corporation, this five star building is located in the heart of everything. Launched with many high end amenities over and above, such as separate "gold key" concierge and separate security, BMW 7 series Li for short outings (driven by concierge), valet parking, grand piano in lobby, three high speed elevators, etc. Built on a three storey commercial podium, the outdoor terrace which is approximately 9,000 sqft, owners relax, without leaving home. Did we mention the lobby is a BMW showroom, with models rotating throughout the year!

Location: 90 George Street
Builder: Canril Corporation
Year Built: 2009
Conceirge: Yes. 
Pool: Yes, indoor salt water pool plus hot tub.
Party Room: Yes, more of a dinning room
Gym: Yes, plus sauna
Theatre: No
BBQ area: Yes, shared. 
Outdoor Entertaining:  Yes, 9,000 sqft of space
Parking: Underground, and heated, with valet
Elevators: Three high speed
Visitor Parking: Yes
Demographic: Mix, 30-60yrs old, 

Click Here For More Information on these Ottawa Condo Buildings

YP Buildings

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Written by Matt Richling

Matt is a licensed salesperson at RE/MAX Metro City Realty in Ottawa, Canada. Matt loves helping sellers and buyers find the perfect home that fits their lifestyle.