Follow a University District’s Home Buyer Journey in Five Steps
April 21, 2021 by University District
Let the Home Hunt Begin!
Perhaps you heard about the recent, prestigious BILD Calgary Award recognition for University District’s Capella and Ivy or our previous BILD Alberta Award for New Community Development of the year. Maybe you were on your way to Market Mall and the beauty of the North Pond caught your eye. Perhaps it was news of a fun winter event — Northwestival — that drew you in.
However University District sparked your interest, we are so glad it did!
Despite a somewhat topsy-turvy year for most of us, Calgary’s real estate market experts are sending positive signals about why now may be a good time to buy.
Our aim — beyond creating a warm, welcoming and lively community — is to make every home search easy and tailored and relaxed with confidence knowing you are in good hands at each turn!
Join us on a buyer expedition with U/D and Brookfield Residential. We will break down the typical steps and introduce you to some of the helpful people and resources along the way to choosing a home in U/D. We spoke with Brookfield Residential’s Marketing Manager Justin Castelino about the home buying process and about timing a YYC house hunt!
“Despite an unusual year, Calgary’s real estate market experts are sending positive signals about why now is a beneficial time to buy” says Justin. “With incredibly low mortgage rates and great new opportunities within the Calgary area, this surge of activity has been positive for our city.”
According to Brookfield Residential, the feeling for guests between its two sales centres — Capella and Ivy — conveys how they will always do their absolute best to make each and every person who walks in the door feels at home.
“Finding the right home is such a journey, and the biggest benefit we have within the U/D is that Brookfield Residential carries a variety of homes and sizes and we work as a team to ensure we are finding the home that best suits each individual’s needs,” says Justin Castelino, Marketing Manager. “We are there to support and guide people throughout the process and hope to answer any of their questions and help them choose a home that is the right fit for themselves and their families.
Step One: Visit Us Online
Get the lay of the land at University District — from your favourite patio, propped in bed with your iPad or even on your cell phone — by visiting and bookmarking our website.
You can scope out our builders, learn what’s here, see how we are connected with UCalgary and more!
One of the most helpful tools you can turn to when considering U/D as a potential place to purchase is our website’s Find a Home tool here. The website is a natural resource to explore, leading to all of the builder websites and providing a good sense of the options — from condos to rentals and more.
What to expect: Our website is designed to give you the bird’s eye view of the community and all the latest happenings and ways to keep pace with our plans and progress. We update it often, just like our social media channels, with videos, photos and our monthly blog. Sign up to stay in the know.
Step Two: Come by our Discovery Centre
You can’t miss it. This community hub houses all of the builders working in partnership with University District to bring a range of homes to life: for seniors, downsizers, first time buyers and renters. You can get all the information about the community in one place.
Our Discovery Centre Customer Experience Ambassador team offers the best next stage of help in any buyer journey. Meet the team here.
After researching online, setting up an appointment to meet with the team at the Discovery Centre to get a clear picture of the entire community and its plans is a fun step to learn more about what the community is all about. If you are interested in our community, staying abreast of new developments is important — new retailers, sustainability measures and long-term visions. At U/D, The Discovery Centre offers a friendly way to deepen research and start to get a more personal feel for the community.
What to expect:
● An interactive model table and media screens showcasing University District
● A tour of the builder show suites where builder sales representatives answer all your questions
● Videos explaining key and core components of the community
● A coffee bar, cozy kids play area and complimentary parking
● Community site plans to connect you with what’s coming
● A host of reading and collateral materials to take home and share with your loved ones or to review on your own.
If you have a good sense of what is within your budget and which offering you want to learn more about coming with those details is helpful.
TIP: Check out Quick Qualify, Brookfield Residential’s online platform that allows its guests to help determine how much they can borrow to purchase a new home. “This pre-qualification tool determines how much money they can borrow and what they will need for a down payment, says Justin. “Once a quick questionnaire relating to their personal and financial position is complete, we provide them with an estimate of their potential home budget. At this stage, we are performing a soft credit check without affecting their credit score!”
Step Three: Get Financial Advice to Help Narrow Choices
Once you have a sense of the options that appeal most to you, it’s time to consult with the financial pros. Scotiabank at University District offers a host of options if you are saving for a home, seeking a mortgage and looking to negotiate best rates and terms to help you attain your goals. Everyone has different requirements, so it is always best to connect with your financial experts.
What to expect: Scotiabank outlines these as the key steps in the process of saving for a home purchase, qualifying for a mortgage, negotiating rates and ensuring the best system for repaying the mortgage loan.
“The first step in the home buying process is to seek advice from someone knowledgeable” says Danielle Doyscher, Home Financing Advisor from Scotiabank. “Reach out to a professional, like an Advisor, and start the pre-qualification process to determine what purchase price range you could qualify for and how much you’ll require for a down payment and closing costs. This process involves reviewing your employment and credit history to determine if you meet your lender’s lending guidelines. Once you know your minimum down payment and upfront costs, you can work with an Advisor to help you put together a budget to deal with those costs.
During the pre-qualification process, your Advisor can lock in a mortgage rate for up to 120 days (depending on your lender). This provides added security that in the event of rising interest rates, your rate is locked in for that time period while you house hunt.
Speak to an Advisor to ensure that your mortgage has features that meet your needs and goals. This could include prepayment options to pay your mortgage off faster, and portability if you plan to sell and move in the near future, to help minimize prepayment charges. Also ask your Advisor about the benefits of a home equity program, like the Scotia Total Equity® Plan which can allow you to leverage the equity in your home, increase your borrowing power and achieve your financial goals faster whether you’re looking to buy a new home, invest more in your property, or plan for your future.*
If you’re looking for more information on the home buying journey, watch the Scotia Advice+ Homebuying Series which outlines what to expect every step of the way.”
TIP: For more information and to speak to an advisor who can assist you on your home buying journey, visit Scotiabank’s University District Branch, at 4141 University Ave NW, Calgary, call the branch (403) 956-9950 or visit Scotiabank Advice+ Centre to make an appointment today. Also, explore a variety of articles on Scotiabank Advice+ Centre that can help guide you, whether you’re a first time buyer, buying a second home or looking for ways to manage your finances.
TIP: Be sure to make time to explore the community. Here is a ready list of the latest retailers to open at U/D.
Step 4: Revisit University District because it’s decision time!
If you like what you saw and heard, and have a solid sense of your financial capacity and resources it’s time to schedule another visit to the Discovery Centre, to tour the showsuites again and to actually see and touch what you are buying and talk details..With a variety of options from condos, town homes and seniors living to rentals finding the right fit for you is a fun part of the experience.
Did you know? You can tour around the eight buildings that comprise Capella to view show suites. There is a single-condo building which offers 1- and 2- bedroom homes and seven, smaller buildings of single-level residences offering two and three-bedroom options.” Community Manager Elisa Plett says: “Now is a great time to check out the offers and amenities on show!”
What to expect: At this stage in the home buying process at U/D, it’s time to:
● To make some floor plan decisions
● To check options with your needs-and-wants wish list in hand
● Understand the builder’s specifications
● To collaborate with the sales specialist on crafting a contract based on the specifications that are right for you.
Step 5: Finalizing the purchase
After researching online, visiting University District and our Discovery Centre, sorting out a budget and financing and finessing the details of the purchase that is best suited for you, comes time to put your name to an agreement. This is an exciting step that, with the right team, makes negotiation feel natural and proper … to the letter.
What to expect: When it comes time to document all of the specifications — for the unit as well as the features — the builder sales and your financial specialists will help ensure:
● An agreement that outlines your specifications and responsibilities is crafted
● Legal or notary assistance with a sound written and properly signed agreement
● You are set up for a smooth and timely occupancy plan
Purchasing a home — for yourself or as an investment– is an exciting process and it can be daunting. University District, its builder partners and local financial institutions are ready to provide peace of mind and help guide you on the journey.
With spectacular parks and pathways, a delightful Retail Main Street, close proximity to important services and helpful amenities, we can’t wait to meet you as you take a closer look at U/D!
*All mortgage applications are subject to meeting Scotiabank’s standard credit criteria, residential mortgage standards and permitted loan amounts. Terms and conditions apply.
“The Spring is always a busy time in the housing market and there are often rate specials and other incentives available, especially with the low interest rate environment we’re experiencing right now,” says Danielle Doyscher, Home Financing Advisor from Scotiabank. “I encourage anyone interested in buying a home to speak to your advisor about what’s available for your unique needs.” From the first sparks of curiosity to sealing a purchase, home hunt with us! Share your journey with University District on Facebook, @udistrictyyc_ on Instagram and Twitter, too!