Welcome Home 101 Richmond!

After 2 years of construction and much anticipation, the wait is finally over for the first occupants of 101 Richmond Road.  The first group of purchasers moved in on September 29 2011 and couldn't be more thrilled with their gorgeous suites and the fabulous building!  People will will continue to move in throughout the fall season and we cannot wait to hear the reviews!

Welcome home everyone!

New Phase 3 Floor Plans Released!

As you know Phase 3 at Q West was released a couple of weeks ago.  We have added some fantastic new floor plans to the mix this week.  One bedroom suites starting at only $262,445!!!  Stop by the sales centre to get more info!

Q The Blasting!

Check out this video footage supplied by a 111 West purchaser of the blasting!

http://db.tt/Ok2QWOSy

111West Construction Update

111 West has entered a new stage of construction!

The streets of Westboro are now shaking while construction is busy blasting away all the bed-rock to make room for underground parking. Things are starting to take shape at the site of 111West and it won’t be long before they start pouring concrete.

We really wanted to provide you all with video of the construction crew turning the bed-rock to dust but were not permitted to film due to safety reasons.

In lieu of the video, please enjoy these pictures of the site.

Hope you enjoyed the pictures.

We still have some great suites available at 111West if you have friends or family who might be interested and we are still offering a $2500 referral credit*.

Thank you,

Tyler Knowles and Amanda Bruce

Phase 3 Has Arrived!

After much anticipation we are very excited to announce that Phase Three of the most sought-after condominium in Ottawa is being released today!  That's right, Q West in Westboro is launching a brand new building with amazing floor plans (including corner units), more amenities than you could ever ask for with great new views and sun exposures! 

You do not want to miss this! Stop by the sales centre at 90 Richmond Road (on the corner of Richmond Road and Leighton Terrace) to check it out!

These suites will not last so don't miss your chance!

There is a $5,000 deposit required to reserve the suite of your choice.

Also, if you have friends or family who may be interested in this amazing development please notify them of this release soon so they don't miss out.

101 Update.....It's almost time!!!

Hello all of you anxious 101 purchasers.  We recently took a tour of the building to check on the progress and it looks fantastic!!!  Kitchens, bathrooms and flooring have been installed.  Appliances have been added and the balconies are almost done.  Check out these pics and see for yourself.  We also took some photos of the views from the rooftop.  Prepare to be amazed!!!

Stunning kitchens and baths!

Check out the North views from the 6th floor!

You can't see through the fog, however we could see Parliament!!!

Rooftop terrace is coming along nicely!

There is your hot tub!

South views of the convent site

First things first: To own or not to own?

First things first: To own or not to own?

By Marnie Bennett, Ottawa Citizen August 27, 2011

 Perhaps you are one of those fortunate first-time homebuyers for whom making the big decision to buy came easily . and then again, maybe you aren't. For many, the decision is difficult.

It's a decision that requires careful consideration. You may have concerns about financial obligations, the responsibility of upkeep or even the idea of being "tied down." Maybe you've just landed your first significant job and the idea of home ownership has only recently taken root in your imagination.

Or, like many people, you've been renting for what feels like forever and dread the thought of writing yet another cheque to help pay down your landlord's mortgage.

Numerous factors will influence your decision, but I'd encourage the fence-sitters among you to consider two overarching questions.

First, how strongly do you feel about owning your own home? While it's possible to live perfectly well while renting a good space, many of us find home ownership important to our sense of comfort, security and identity.

Certainly, there's also a sense of satisfaction in watching your home equity increase with every mortgage payment. As a solid investment, a home is hard to beat: How many investments provide shelter and comfort to the investor?

There is a big payoff - ultimately, you will own your home outright and monthly payments will be a distant memory. That is a luxury renters simply do not have.

This brings us to the second, more crucial, question: Can you afford it?

Remember, your first home need not be a palace. Assuming that you're steadily employed and do not plan to move again in the near future, the purchase of a modest home or condominium is nearly always a smart move. You may even find mortgage payments surprisingly affordable and not a far cry from your monthly rent.

Having said that, it is paramount to consider the additional costs of ownership. Things like property taxes, utilities, condo fees, insurance and maintenance can add up and force you way over your budget. I strongly suggest you speak with a mortgage broker or bank representative for help designing a realistic home budget.

I can assure you of this: If home ownership is close to your heart, you'll find a way.

Marnie Bennett is a leading broker with Keller Williams VIP Realty in Ottawa. She has more than 30 years' experience in real estate and has led her Bennett Real Estate Professionals team to the top spot internationally for Keller Williams. Contact her at marniebennett@bennettpros.com for a free report on 6 Things You Must Know Before You Buy.

Property Talk: Beyond the sticker price

Extra fees to watch for when buying a home

By Marnie Bennett, Ottawa Citizen August 13, 2011

Savvy home buyers know full well that a new-home sticker price is not the end of the financial story; they know to expect additional fees. Yet, even if the extra costs are anticipated, buyers may not be able to list them in great detail.

Here's a list to help you be prepared. It is important to know that most builders absorb the majority of these fees; however, not all do. Having a sense of what they are, especially since they can make a big difference to your bottom line, is a good idea. Don't be shy: Ask the builder's representative which costs are included and which are not.

Sales tax: Buyers often confess to being confused by Ontario's Harmonized Sales Tax (HST), which began July 1, 2010. The HST, which totals 13 per cent of the purchase price, only applies to new homes. Most home builders include HST in the price of the home. Government rebates may be available to those who purchase a new home where the HST is not included in the price. (Eligibility will vary depending on home ownership or investment properties.)

Land transfer tax: This provincial tax is applied to both new and resale homes.
It is a complex structure and depends on the value of the land. To give an example, a $300,000 home will require a land transfer tax of $2,975. Some first-time homebuyers may be eligible for a rebate of up to $2,000, so be sure to ask your real estate agent.

Utility and meter connection: These costs can add up to roughly $600.

Tarion Corporation warranty fee: This mandatory fee protects home buyers from construction defects and failure to fulfil terms of the purchasing agreement. This is also normally covered by the builder.
Legal fees: Most lawyers charge between $1,000 and $1,500 for their services.

Mortgage processing fee: These fees can vary but should cost a buyer anywhere from $500 to $1,000. Try asking your mortgage institution if these fees can be waived.

Moving costs: These vary greatly, depending on the number of movers hired, possessions to be moved and distance to be travelled. The going rate for two movers and a truck is $100 an hour. Reviewing additional costs is not the most exhilarating part of new-home hunting but, I can assure you, the better prepared you are, the less stressed you'll be with your final decision.

Marnie Bennett is a leading broker in Ottawa with more than 30 years' experience in real estate who has led her Bennett Real Estate Professionals team to the top spot internationally for Keller Williams. Contact her at marniebennett@bennettpros. com for a free report on 6 Things You Must Know Before You Buy.

Property Talk: Be open to possibilities when choosing a home

Here is an excerpt from Marnie Bennett’s column “Property Talk” from the Ottawa Citizen:

Property Talk: Be open to possibilities when choosing a home

By Marnie Bennett, Ottawa Citizen July 29, 2011

Buying a new home can be a very exciting process with a happy end result. But let’s be honest: it can also be quite the roller-coaster ride. In reality, few of us are able to delve into our bottomless pockets, find our dream home and then move in the following day — no matter how much we would love to.

Over the years, I’ve come to notice certain patterns in home-buying behaviour. While most buyers begin the search with a firm idea of the type of home they are looking for, it’s surprisingly common for them to change their minds mid-search.

Some buyers may realize they are no longer eager to mow a large lawn, while others may discover the detached home they have dreamed of is actually beyond their reach.

Buyers should be encouraged to become familiar with the different types of properties on the market, and to keep an open mind as possibilities can be found around every street corner.

Condominiums

Condos are a type of property most often purchased by single people and couples without children, and with good reason. They offer a maintenance-free style of living that is ideal for those with busy work and social calendars.

In these buildings, owners pay a monthly maintenance fee, known as a condo fee. These monthly payments are collected for the maintenance of the building and common areas.

It should be known that condos tend to come with smaller — and sometimes no — outdoor spaces. However, they often offer an abundance of lifestyle amenities such as fitness studios, home theatres, hot tubs, rooftop terraces and party rooms — an important consideration for downsizes and active singles.

While we often associate condos with downtown high-rises, they have become increasingly popular in suburban areas. They may be townhouses, semis or even detached homes, and are common in adult-oriented gated communities.

It may come as a surprise that the term condominium is actually a legal definition referring to the method of ownership, not the type of building.

When you purchase a condo, you are actually purchasing the interior space of the unit. This space is completely yours. The “common elements” such as elevators, recreational facilities, parking and outside grounds are jointly owned by yourself and the other homeowners in your condominium community.

Marnie Bennett is a leading broker in Ottawa with more than 30 years' experience in real estate who has led her Bennett Real Estate Professionals team to the top spot internationally for Keller Williams. Contact her at marniebennett@bennettpros. com for a free report on 6 Things You Must Know Before You Buy.

Downtown Ottawa becoming "Condo City"

Check out this article from the Ottawa Sun about Ottawa's booming condo market:

http://www.ottawasun.com/2011/08/09/downtown-ottawa-becoming-condo-city

Ottawa condo prices on the rise

Condos in Ottawa are proving to be an equitable investment.  Check out this article from the Ottawa Sun:

http://www.ottawasun.com/2011/08/09/condo-prices-set-to-keep-rising#disqus_thread

9 Short days until the no condo fee promo is over!

That's right, our no condo fee promotion is coming to a close at the end of the month so don't miss your chance to live condo fee free for 2 years (up to $5000 max).  This is a savings of up to $300 a month!  That is huge!  What could you do with $300 a month? 

Ladies, that would be a new Coach handbag every month for 2 years! 

Gentleman, that's upgrading the family mini-van to that stylish SUV you've been dying to have! 

What would you do with your savings?

Live Q West for as little as $1,211 a Month!!!

Monthly Carry Cost for Q Flat At Q West

Suite Purchase Price = $230,910

Furniture Package =    $10,000…………Actual retail value $15,000

Total =                            $240,910

15% down payment = $36,137

Mortgage Amount =    $204,733

CMHC =                          $3,584

Financed Amount =     $208,317

Monthly P+I =               $944   (based on 5yr fixed at 3.6% interest)

Property tax est. =       $267

Condo fee =   Free if you purchase in August … Actual = $129 x 24 mths = $3096

Total Monthly Carry Cost = $1,211       

Total Savings By Buying in August = $ 8,096

Q West Article in New Home & Condo Guide July 16 - August 13 2011 Issue

Q West: Ottawa’s Fastest Selling Condominium

There’s no doubt about it. Q West is THE place to be in tomorrow’s new Ottawa--today! A mere six months after plans were unveiled to a waiting public, Q West stands poised to release Phase 3 having sold out Phase 1 and reaching the 40 per cent mark in sales for Phase 2. That makes it the fastest-selling condominium in the city.

You’ll find Q West in Westboro where thriving businesses and residential clusters are already taking shape. Q West will take this vision of growth to a new level as it provides an urban link between Island Park and Wellington West for a continuous cosmopolitan experience.

Developed by Ashcroft Homes, this vision of a new Ottawa captures the success of Ashcroft’s 101 Richmond and 111 West, a blend of lifestyles and amenities. Just a year-and-a-half ago, when 111 West was released, 95 condos were reserved in 90 minutes. Q West is experiencing the same demand for a lifestyle of cosmopolitan living partnered with attractive amenities and nightlife.

The newest Q West release is the dazzling collection of penthouses with tremendous terraces and spectacular layouts. Ranging from 1,174 to 1,571 square feet, they offer elevated living at its finest. from the smallest to the largest, each penthouse features two bedrooms, each with a walk-in closet and ensuite for the ultimate in comfort and convenience, as well as a powder room and a fabulous open-concept living area with gourmet kitchen, complete with island seating--an entertainer’s dream. Other suites available range from 537 to 1,069 square feet.

Finishes within every suite are just as spectacular. Expansive windows, sumptuous baths, gourmet kitchens are all part of the package. There will be nine-foot ceilings enhancing the sense of spaciousness. Balconies will have railings of aluminum and glass offering an unobstructed view. Buyers will have a choice of three finishing packages.

A rooftop terrace will be complete with an outdoor kitchen, exquisite dining room areas, outdoor relaxation lounge and a hot tub. The basement will feature a pet grooming area as well as space for ski and bike tune-ups, and bike storage. Plus, all residents have the option of upgrading their Q West experience by selecting the Virtual Butler that offers easy web-based access to all the boutique-style services they might need. En-suite maid service, laundry service and maintenance calls are just a few clicks away. Get catering or delivery right to your door, arrange for dog walking or car detailing, book time for Q West amenities like conference rooms and spa treatments.

According to Ashcroft president and developer David Choo, Q West will be Ottawa’s Georgetown--a living street, a vibrant urban experience offering venues for the city’s ongoing music festivals as it embarks on becoming part of the fabric of the city. With nine buildings offering a highly desirable mix of residential and commercial space, spread over expansive, leafy grounds, this is an unprecedented living experience on a grand scale. The Ontario municipal Board has recently given this site plan its stamp of approval meaning Q West will soon become a reality.

This 5.5 acres of property is the site of the aging convent of Les soeurs de la Visitation which will be embraced and celebrated with the preservation of its historical exterior. Inside it will be revived and revitalized into an innovation centre, the heart of Q West. Proposed uses include rentable artist space, and a health club and spa for residents of Q West and the adjoining 111 West and 101 Richmond.

From the preservation of the existing structures, to the new buildings, to the ample green space, Q West has been designed to balance beauty with functionality. It is a marvel of community planning and building design, highlighted by inviting courtyards and communal spaces, and a grand centerpiece in Abbey court, the upscale dining, shopping and leisure destination.

No Condo Fees for ALL Suites! Limited Time Offer!

For the month of August only, our no condo fee promotion is back with a vengeance!  Enjoy living condo fee free for 2 years (up to a maximum of $5000).  Act fast before they are all gone! 

Combine this offer with our 5% down payment for first time home owners, and you have a condo fabulous package that cannot be matched! 

Q The Article in New Home and Condo Guide!

Check it out....Q West is being featured in the current issue of the New Home and Condo Guide of Eastern Onatrio.  "There's no doubt about it.  Q West is THE place to be in tomorrow's new Ottawa - today!"

Pick up your free copy on news stands!

Q the Penthouses!

We at Q West are very pleased to announce the much anticipated penthouse designs have just been released in Phase 1 and they have been worth the wait! 

Exclusive Suite features include

1. All new kitchen design
2. Massive terraces
3. Incredible views
4. Oversized bedrooms
5. From 1100 sq.ft. to 1500 sq.ft.
6. And more!

Suite layouts and pricing are now available at the QWest sales centre at 108 Richmond Road, corner of Leighton Terrace (just 1 block west of Island Park Drive). 

Monday – Thursday noon – 6; Friday – closed; Saturday & Sunday noon – 5

No Condo Fees is back!

For a limited time only enjoy no condo fees for 2 years on two of our premium suites!  This is a savings of up to $300 a month (up to a maximum of $5000).  Type Q and type R are both stunning suites with gorgeous South facing views of our historic courtyard featuring the converted stone convent nestled within a sea of gardens and trees in a serene setting that will awaken your senses.  We only have a limited number of these opportunities so don’t miss your chance to live condo fee free at Qwest!  See attached floor plans for these fabulous suites.

Also, ask us about our 5% down payment plan for first time buyers!  Limited opportunities available….they are going fast!  What better path to home ownership than 5% down AND no condo fees for 2 years? 

101 Richmond Progress!

The hardwood floors are being installed, kitchens are going up! Take a look at the progress that 101 Richmond has made!

All the windows are installed and the brick exterior looks fantastic.

Stay tuned for more updates as we get closer to the completion of 101 Richmond!

Q West Gets OMB Site Plan Approval

Hello Everyone,

We are very excited to announce that Q West has received approval from the OMB to move forward with it's current site plan proposal. Please follow the link to the Ottawa Citizen for all the details.

http://www.ottawacitizen.com/contests/Ashcroft+makes+deal+Westboro+convent+project/5023559/story.html

Our next blog post will have some great pictures of our nearly complete 101 Richmond project and an update of progress on 111West.

Thanks for reading.

New Condos...we're not in Kansas anymore

Walking into a new condo sales centre can be exciting and intimidating.  It’s easy to get distracted by the finishes, amenities and model suite.  While it can be a thrilling process, one should be aware of the differences between buying re-sale and buying new.  There are several things that make a new condo purchase a truly unique experience.  These simple tips will make you a more educated buyer and assist you in making a decision that is right for you and one step closer to owning your dream condo.

1. Find the condo specialist in your area (particularly new condos) and sign a buyer representation agreement.  Condos are a very specific market and working with a realtor that specializes in this area will be to your benefit. 
2. Research builders in your area and visit past projects they have completed.  Looking for online reviews and speaking with past purchasers can be very helpful when making a decision.
3. Understand your obligations during the 10 day cooling off period.  This is the time to have your lawyer review the documents and seek mortgage pre-approval.  Always read your agreement of purchase and sale and if there is something you don’t understand contact the builder and your lawyer for clarification.  This 10 day period grants you the opportunity to fulfill your legal obligations, as well as back out of the agreement for any reason.  After the 10 day period is complete the deal is firm and binding.  So if you have any doubts they should be addressed right away to avoid locking yourself into a legal contract.
4. Remember to ask about condo fees.  These fees are paying for things that most people are unaware of.  A portion of your monthly condo fee is placed in what’s called a reserve fund which is a pool of money that is used to make repairs to the building.  The other portion of the fee goes to the maintenance and upkeep of the common areas, building insurance and some utilities.  Be sure to always ask what the condo fee includes.  Make sure you know what you are responsible for paying over and above your condo fee.  For example, most cover all utilities except hydro, property taxes and contents insurance for your unit.  Most new condos will lock your condo fee rate in for 1-2 years, depending on the length of time they plan to manage the building before turning it over to the condo board.
5. Standard deposit structures are 15% over 90 days.  The 5% first time homebuyer down payment does not apply in new construction.  This means that on a $300,000 condo, you would need a $45,000 down payment within 90 days (usually spread over 3 payments of 5%).  First time home buyers usually take out a line of credit to cover this amount and then roll it into a mortgage upon occupancy.  Existing home owners can use the equity on their home to finance the down payment.  Remember, most new condos take approximately 2 years to be built so that money will be tied up for quite some time.  Be mindful that some new condo builders provide special first time homeowner promotions where they will offer 5% down payment for a limited time.    
6. Remember that your money is working for you.  Sure, you may have $45,000 tied up for two years while you wait to move into your new condo, but remember, you bought pre-construction at today’s prices.  This means that by the time you move in, 2 years later, your home will have gained two years of equity.  Some people find as much as 15% equity growth in that initial 2 years and 6% each year thereafter.  Your $45,000 deposit was in fact making you money.

Q The Videos!

http://www.youtube.com/watch?v=7iOWAk47Pp8

http://www.youtube.com/watch?v=EEh-nsmLsA0&feature=player_embedded

Q the Drum Roll Please!

After long anticipation and excitement, we are pleased to announce that we have just released the 2^nd floor Terrace suites in Phase 1 and Phase 2 of Q West!

The same amazing floor plans you know and love as well as some new additions, now with terraces that range from 200 sq ft to 700 sq ft!

Stay tuned for the release of our exclusive penthouse suites!