There are lot of discussions these days about ‘infill’ design solutions in our Canadian cities. Infill is a term often synonymous with ‘intensification’, which adds new homes into mature or existing communities. Infill can also be thought of making better use out of under-utilized spaces, areas where the zoning is changing through the redevelopment of traditional main street areas, or taking advantage of new housing types which were not considered when the original communities were first planned in the early to mid-Twentieth Century. For someone hunting for a house within the city, infill can also provide a great opportunity to move into a ‘complete neighbourhood’ and also introduce serious lifestyle and savings opportunities.
What is a complete neighbourhood? This concept refers to those communities which provide a complete set of amenities for living, working, shopping, education and recreation. Within these areas, one can expect to require limited or no use of a car to run the majority of their daily tasks, to have a reduced commute or walk time to work, and to find a diverse set of social and economic statuses. For many people, this mixture of life, employment and recreation is very appealing since it may ward off many of the high ‘taxes’ on our lives. Two of the highest hidden taxes of home ownership are lengthy commutes and car ownership. Daily commutes can cost us up to 500 hours per year in Ottawa for a typical government employee who lives in an area such as Barrhaven, Orleans or Kanata and works downtown. The vehicles that make these commutes are also costly. CAA cites the cost for car ownership at around $9,500 per year or nearly twice what we spend on groceries[1]! Adding the opportunity cost at Canada’s average household income salary of $74,540[2], one could also expect to be losing around $19,000 in unearned wages during this period. Combined, these figures equal $28,500 or $2,375 per month which is roughly equivalent to a mortgage payment on a home worth $510,000.[3]
The quality of life in these neighbourhoods is also an important factor. When considering a complete neighbourhood, one must insure that there are both amenities (a Bridgehead Coffeehouse for example), as well as homes that Bridgehead barristas could afford, and places for daycare for their children or apartments for their elderly parents. A complete neighbourhood is a good combination of incomes, a diverse and inclusive cultural cross-section of individuals, and a varied set of public ‘living rooms’ for those individuals to interact and support each other in work, life, and play.
Various key neighbourhoods like Vanier, Main Street, Mechanicsville, and Glebe Annex / Preston are all ideal areas where gentrification with the intent of creating diverse complete communities is a priority. These areas offer urban living opportunities for new-built custom triplexes and fourplexes can be often find savings of $35,000-$75,000 below market value, and introduce significant time, commute, and lifestyle enhancements.
I am here to help you you’re your perfect home and discover all of the advantages that complete communities have to offer.
Contact me now for all the details!
Karissa Fletcher, Sales Representative
Keller Williams Ottawa Realty
Direct: 613-369-5856
Cell:613-277-9947
info@KarissaFletcher.com
[1]CAA Provides Real Picture of Annual Driving Costs.” CAA Provides Real Picture of Annual Driving Costs. CAA, 25 Feb. 2013. Web. 31 May 2015. http://www.caa.ca/caa-provides-real-picture-of-annual-driving-costs/
[2] http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/famil108a-eng.htm
[3] Monthly Mortgage: $2,374.48
Mortgage Amount: $510,000.00
Interest Rate Type: Fixed
Amortization Period: 25 years 0 months
Payment Frequency: Monthly
Interest Term: 5 years 0 months
Interest Rate: 2.850%