Real Estate

Ottawa Real Estate market discussion

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Deal Addict
Apr 4, 2013
1274 posts
403 upvotes
mutura wrote:
Feb 25th, 2016 3:33 pm
I've noticed a couple of builders very recently increase their prices. e.g. HN Homes bumped their singles prices up by 10-15k a couple of weeks ago (after a 10-15k jump in 2015).. no design center bonus or upgrades offered to offset the increase. Might be because they are a relatively new builder though - still building their reputation.
When I reviewed HN's offering, I was amazed at the listing prices for its homes. For instance, $455,000 for a regular end unit townhome in Riverside South? You are definitely in the single family home price range at that price. The challenge for anyone who buys that home and then tries to sell it again in the future is the home will be competing against the towns from Urbandale, Richcraft and Claridge that are also in the area.
Deal Addict
Feb 2, 2011
1604 posts
257 upvotes
Ottawa
Chickinvic wrote:
Feb 25th, 2016 11:31 pm
I agree. I'm totally jealous of our friends who are just moving here from Victoria in May (we are helping them house hunt right now). There are better places available for less money than when we bought 2 years ago. Sigh...

PS - We love our Minto townhouse (2001 built Minto Empire). We don't hear a thing through the walls. We've even had a party and our neighbours said they didn't hear us (plus we have 2 Jack Russells who can bark sometimes). The soundproofing must be amazing.
I loved the Minto Empire. It was my first home. Sold it a couple years ago but it was a great little starter place.
Deal Addict
Feb 2, 2011
1604 posts
257 upvotes
Ottawa
cbr663 wrote:
Feb 26th, 2016 9:34 am
When I reviewed HN's offering, I was amazed at the listing prices for its homes. For instance, $455,000 for a regular end unit townhome in Riverside South? You are definitely in the single family home price range at that price. The challenge for anyone who buys that home and then tries to sell it again in the future is the home will be competing against the towns from Urbandale, Richcraft and Claridge that are also in the area.
$455k for a townhome? Is that a typo? Holy cow batman.
Deal Fanatic
User avatar
Dec 27, 2009
6248 posts
3460 upvotes
Ottawa, ON
downd wrote:
Feb 26th, 2016 10:11 am
I loved the Minto Empire. It was my first home. Sold it a couple years ago but it was a great little starter place.
We love it too. It is a great layout, and perfect size for us and our two dogs. Hubby has his theatre room with projector in basement, while I have my treadmill, guitars and amps set up there too. It is very beautiful on the inside. I can't say enough about the soundproofing for anyone considering a townhouse, we truly don't hear any noise from either side and apparently they don't hear us (and we're loud sometimes).
Deal Fanatic
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Dec 27, 2009
6248 posts
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Ottawa, ON
cbr663 wrote:
Feb 26th, 2016 9:34 am
When I reviewed HN's offering, I was amazed at the listing prices for its homes. For instance, $455,000 for a regular end unit townhome in Riverside South? You are definitely in the single family home price range at that price. The challenge for anyone who buys that home and then tries to sell it again in the future is the home will be competing against the towns from Urbandale, Richcraft and Claridge that are also in the area.
That is outrageous for a townhouse. You could buy a very nice single for that price (and a lot less in many cases).
Member
Feb 11, 2009
431 posts
82 upvotes
Looking for some opinions regarding houses with an in ground pool. Never owned a house with a pool or lived where you need to pay additional for water. How costly can it become to maintain a pool?
Deal Guru
User avatar
Mar 31, 2008
10228 posts
1515 upvotes
Toronto
Hardaway102 wrote:
Feb 26th, 2016 11:04 am
Looking for some opinions regarding houses with an in ground pool. Never owned a house with a pool or lived where you need to pay additional for water. How costly can it become to maintain a pool?
Do a search. Also go through this thread: backyard-pool-not-587788/
Deal Addict
Feb 2, 2011
1604 posts
257 upvotes
Ottawa
cbr663 wrote:
Feb 26th, 2016 10:24 am
Nope, not a typo. It's for their Parkway Model, which is 1958 sq ft above ground plus finished rec room in the basement of 565 sq ft. The home has a $40,000 lot premium. http://www.hnhomes.com/riverside/price-list-towns.php. Those are some mighty ambitious prices for that area, imo.
Imagine $455k base + upgrades? Half a million for a townhouse in that location? Crazy!
Member
May 23, 2007
384 posts
77 upvotes
Ottawa
HN is overpriced. Maybe its 455k because it has uber modern trendy upgraded BLACK windows?
Deal Addict
Jul 23, 2012
1025 posts
27 upvotes
Ottawa
I just went to the HNHomes website to see what features they have for their homes. At first glance, HN Homes do offer a lot of standard features that would be easily worth tens of thousands of dollars in upgrades from some other builders. It's kind of like how Hyundai packs a lot of features into their base models. No comment on build quality though.

PS: I do not own a HN home nor do I have any connection to HN. I'm a home owner who realized long ago that there is a wide range of quality in home builders.
Sr. Member
Aug 6, 2014
727 posts
192 upvotes
Ottawa, ON
Chickinvic wrote:
Feb 26th, 2016 10:26 am
That is outrageous for a townhouse. You could buy a very nice single for that price (and a lot less in many cases).
those opportunities are declining though. it's already getting difficult to find a single in riverside south (or closer to downtown) for under $450k. i sometimes wonder if maybe the best strategy for home investment is to just buy the biggest lot you can afford as close to downtown as you can afford, and everything else is secondary.
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Jun 28, 2003
9811 posts
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Ottawa
fisher44 wrote:
Feb 29th, 2016 12:27 pm
those opportunities are declining though. it's already getting difficult to find a single in riverside south (or closer to downtown) for under $450k. i sometimes wonder if maybe the best strategy for home investment is to just buy the biggest lot you can afford as close to downtown as you can afford, and everything else is secondary.
I think there are still good properties meeting these criteria, if you keep an eye out for. Here is an example

http://www2.oreb.ca/main/Details_RES.as ... 55mzosc2jk

It is a smaller single but looks to be ready-to-move-in condition and is about 20 minutes from Rideau Centre with no traffic (using GoogleMaps). It is supposedly on a quiet street (Crescent) and the asking price of $389K is less than the aforementioned HN Homes townhouses and is not much more than some of the current semi-detached models in the other 'burbs.

I guess it all depends on what you want and need. If people want to get the houses they want in desirable areas, I recommend working with a realtor who can set up alerts for you, based on your criteria.

I am not a big fan of selling agent but I do believe a good buyer's agent can save you time, money and offer good advice, especially if you are not familiar with the city/neighbourhood.
Sr. Member
Feb 18, 2010
709 posts
226 upvotes
Greely
fisher44 wrote:
Feb 29th, 2016 12:27 pm
those opportunities are declining though. it's already getting difficult to find a single in riverside south (or closer to downtown) for under $450k. i sometimes wonder if maybe the best strategy for home investment is to just buy the biggest lot you can afford as close to downtown as you can afford, and everything else is secondary.
That was a common strategy in the 90's when salaries and home prices were both on the move up. Eat Kraft Dinner for a few years, and then hope your take-home pay caught up with your mortgage payments. As interest rates drifted lower, this was the case for those in a variable rate mortgage.

Big lots can still be had, but you might have to move a little further out of the city.
Deal Fanatic
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Jun 28, 2003
9811 posts
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Ottawa
canabiz wrote:
Jan 28th, 2016 5:45 pm
Add Apple to the list of big tech companies with a presence in Kanata. They just leased a big office in Kanata...not sure how many people will be working out of this office but it is certainly good news.
Huawei is looking to add more staff to the area as well. I don't think Kanata will ever see the tech heyday like the late 90's again but this is definitely good news for the region.

Slow and steady wins the race :)

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