Ottawa and Surrounding Area Real Estate market discussion

BlueSolstice wrote: ↑ Well, if they get a gift from their parents and bring the DP to 20%, they can pay CMHC premium and maybe get a slightly lower mortgage rate to offset the premium. Combine that with 10% from the government, it allows them to maybe upgrade from a stacked town to a 3 story town with no backyard. Or maybe they get the 5% from their parents, and use the 10% from government to offset the impact on stress test from student loans, and buy a home 3 months after they become a permanent employee, while they're still pay off their student loan. I see the 120k cap custom designed for new build market in Ottawa, for new grads.

William W wrote: ↑ Do you know if they charge for a private street fees/Condo fees for their Village Towns?

I think Mattamy way overpriced initially, now they are coming with more reasonable pricing. Though, I will be upset if I bought on opening day a couple of years ago, but that's probably the danger of buying pre-construction as prices can go down as well.

audiorichard wrote: ↑ It is the fun part of real estate investment. No property is identical, there are always pros and cons for each property. For example, for the properties above, I personally prefer Wateridge village, here are the reasons:

1. The location is not as good, but it is not bad. it is still inside greenbelt in the new develop area, compare with Orlean or Kanata. This location is a lot closer.
2. It is brand new vs. 20-30 old property, the floor plan is more modern.
3. Even there are common fee (around $120 a month), but I don't see it will increase much.
4. There are lots of green space in Wateridge village. Since it is a newly develop area, therefore, there are room for builder to increase the price in the next phase.

Just a disclaimer, I do not plan to invest in Wateridge village or work for Mattamy. I am gather ideas and information.

cyberfreak123 wrote: ↑ I do not plan to invest in Wateridge neither, or anywhere else. But I'm planning for my next home. Who else build in Wateridge? Is there any builder who makes house with inlaw suite in that area?

cyberfreak123 wrote: ↑ Anyone wants to try bidding on this property?
asking $349,900
https://www.ovlix.com/property/3EeTv7-2 ... -ON-K1G2K4

mself084 wrote: ↑Curious what you think about this one in Stittsville, near the CTC -> https://www.realtor.ca/real-estate/2040 ... tittsville?

Priced high, or is that what $529k gets you now in the suburbs?

Disclaimer: we're listing in the spring and our house is comparable.

skeet50 wrote: ↑
I think the price is ambitious. Less than 2000 sq feet on a small lot. Especially when compared to this listing just a couple of streets away: https://www.realtor.ca/real-estate/2034 ... tittsville. This home is listed for only $20k more, on a much larger lot with a double car garage and a finished walk-out basement.

mself084 wrote: ↑ Wonder how much it went for... Guess we'll see.

mself084 wrote: ↑ Update: conditionally sold in under two weeks. Eep. Wonder how much it went for... Guess we'll see.

BiegeToyota wrote: ↑ How?

BTW, love the RFD abbreviations

mself084 wrote: ↑ Update: conditionally sold in under two weeks. Eep. Wonder how much it went for... Guess we'll see.

skeet50 wrote: ↑ That's great news for the sellers, and for you also.

I hope this is a sign that there is finally some price gains in the detached market. When you consider what some towns are fetching these days, detached homes should be doing well also.

jk9088 wrote: ↑ Regarding Mattamy Wateridge: anyone know how approx. many years it will take to fully develop that community? It seems like a decently large area of land in total with multiple developers building there, so I'm wondering how long people who move in during the early phases will have to live in a construction zone.

Anyways, I agree that their new lowered prices definitely make the units much more attractive. However, comparing the stacked vs. village townhomes, I'm confused at the prices. The most expensive stacked townhome is the same price as the cheapest village townhome (square feet is comparable, same # of bedrooms/bathrooms). But with the village townhome, you get a garage + driveway (I don't know how many outside parking spots you get included with the purchase of a stacked). And presumably it's a freehold instead of condo (although there are still private road fees). Plus one less neighbour (since you don't have someone living below/above you). Am I missing something here? I can't see why anyone would want to buy a stacked instead of village for the same price.

ghasita wrote: ↑ Was at Wateridge yesterday and all village homes were sold out in no time (released 20 over 2 days). There was a line up and people stayed overnight to buy. When I asked to put my name down in the list, I was told there are over 80 people in the list who missed out or looking to buy...

fisher44 wrote: ↑ open house in carlington yesterday had a lineup of people going down the driveway waiting to get in and take a look.

Tadalafil wrote: ↑ That is insane...
Seems like Mattamy seriously underestimated demand, release too few lots, and under priced their offerings. Wonder how they will price their next offering.

ghasita wrote: ↑ Was at Wateridge yesterday and all village homes were sold out in no time (released 20 over 2 days). There was a line up and people stayed overnight to buy. When I asked to put my name down in the list, I was told there are over 80 people in the list who missed out or looking to buy...