Bright's Grove Boundary
Sarnia’s official expansion plan could increase the Bright’s Grove housing supply, if it holds up. In the lakefront Sarnia community with 500 farmland hectares and roughly 5,000 people, the council voted 6-3 to add in a parcel south of Lakeshore Road and between Waterworks and Brigden side roads to the urban boundary development plan.
Pending more community consultation, the council decided after voting 8-1 to approve the official plan in principle. In the meantime another public meeting will take place for further discussion.
Ultimate approval still lies with Lambton County and the province, and could hinge on whether the addition is deemed acceptable given provincial policy on where municipalities prioritize development. The area affected would be research park lands southeast of Wellington Street and Modeland Road. Regardless, it’s going to take years to build. This is a gradual process.
The Naked House
A London-based organization came up with the idea of a Naked Home. The Naked House doesn’t include any of the expensive finishes and extras that almost always come with newly constructed homes.
This means no flooring, no drywall, no partition walls, and only the most basic plumbing systems. The organization is dedicated to building affordable homes with a unique bare-bone design.
Why a Naked House can be attractive
This may seem a bit bleak for anyone conditioned to expect fully finished homes, but “naked homes” allow owners to customize their homes to their exact needs and tastes. The simple structure allows for adaptation over time.
Current naked house designs in Enfield, U.K. can be reconfigured as occupant needs change. For instance, the double-height ceilings and built-in ledge partway up the walls allow for a second floor to be added with relative ease.
Not everyone will be willing to move into such an “empty” home, but it does create options for those who are open to designing and adjusting their living space as they live in it.
Even the rise in popularity of tiny houses is indicative of some people’s willingness – and excitement – to live in non-traditional and modest homes if it comes with a sense of ownership and customizability.
Homeowners and buyers should seek advice as they adjust their strategies and look for more ways to save
Some may say the changing landscape around interest rates is having a cooling effect on Canada’s real estate market. This change may give Canadians an opportunity to slow down and explore their options.
Interest rates are top-of-mind for both current homeowners and first-time buyers. Rising interest rates can have an impact on the cost of borrowing which in turn impacts the overall purchasing process power. Those looking for financing for their new place have a tough decision on choosing the right mortgage type, variable or fixed-rate, and what length of term is best.
First-time homebuyers adjust strategies to get into the market
There’s a ton of opportunity to think about exploring the different options out there for homeownership.
Some emerging trends that are seen consist of purchasing a home with a family member or friend, as well as purchasing a property with the potential for rental space to help cover mortgage costs. Canadians have also considered buying outside of major cities in more affordable communities.
Solid advice and prudent planning make all the difference
As Canadians adjust their home buying strategies, professional advice is important to seek out to ensure you understand your options.
An advisor can help sort through financing options, set up a savings plan for a down payment, and work through a mortgage pre-approval. They can also go over the programs that are available to aid in home ownership.
For first-time homebuyers, it really is important to plan ahead. For current homeowners, it’s important to understand the terms and conditions of their existing mortgage so they can explore financing options for changing or renewing.
Waterfront Plan
First up for Sarnia’s $55-million, 15-year waterfront master plan is improving Ferry Dock Hill and the surrounding riverfront lands.
Sarnia city council approved a $300,000 design contract this month with Brook McIlroy Inc. to craft specifics for what the master plan is in terms the Ferry Dock Landing.
https://renx.ca/the-naked-house-the-future-of-housing-affordability/
https://theobserver.ca/news/local-news/design-work-approved-for-ferry-dock-landing-project
