If it looks too good to be true, it usually is. However, for Esquimalt couple and first-time homebuyers, Kate Adolph, 29, and Graham Quee, 32, that adage has proven false—thanks to a unique opportunity in attainable home ownership by Chard Development.
Currently in pre-construction, Haven will grace the fringe of downtown Victoria, a six-storey, 104-unit residential condominium project, poised for 1100 Johnson Street, a prime block straddling the artfully charming and community-centric Fernwood.
“We were in the process of saving for a down payment and expected at least three years before we could buy—but then we heard of Haven,” says Quee.
With Haven’s exclusive offering, prospective homebuyers are essentially given a leg up to help reach their home ownership goals.
In partnership with BC Housing, the program is structured for middle-income British Columbians. Through this program, Chard will match buyers’ 10% down payment on remaining studio, one-, or two-bedroom residences, starting at $325,500. You can pay it back when you sell, or at your earliest convenience. For savvy buyers, the construction period will provide an opportunity to save more and repay sooner rather than later.
“Rather than saving 20% and using all our financial portfolio for a down payment, we have three years in which we can recoup what we put down,” reveals Quee.
He explains their frustration as first-time buyers before choosing Haven: “We’re young professionals with pretty good jobs and our monthly cashflow can more than pay for the mortgage. It’s just getting over the down payment hurdle we needed to get our foot in the door.”
The pair met the program requirements with ease. Both are Canadian citizens and/or permanent residents who have lived in B.C. for at least one year and currently don’t own real estate. They met further criteria for the two- and three-bedroom residences, as their household income didn’t exceed $168,310.
“We jumped at the opportunity and purchased the three bedroom,” says Quee. “We looked around downtown Victoria and discovered that a three-bedroom new build is relatively unheard of with 1,019 square feet, like we bought.”
“Initially, it sounded too good to be true,” admits Adolph. “The program 100% influenced our purchase decision. We went from not seriously looking, to signing the contract within a month. We’ve been telling all our friends—it’s truly awesome!”
For Adolph and Quee, thoughtfully imagined interiors coupled with spacious floor plans offered afresh standard for modern living. The kitchens are designed with style and efficiency, think full-height pantry storage with contemporary, flat panel vertical wood grain cabinetry and super matte laminate finishes, plus sleek stainless-steel appliances.
“I’m really excited to have an open concept space,” says Adolph. “The wow factor for us is the giant feature wall, perfect for our 72-inch flatscreen. It will be visible from the kitchen, dining and living room.”
Impressive building amenities will easily align with your lifestyle, too. From a dog wash, an electric bike share program and on-site car share program, to a central courtyard with a children’s play area, just to name a few.
Predominately residential, Fernwood boulevards and historic houses are framed with thick-crowned Garry oaks and leafy tree-lined streets. Modest Vernacular Victorians with inviting porches, rub shoulders with stately bay-windowed Edwardians, a nod to Fernwood’s countrified urban setting.
Hip yet unhurried. Funky and fun with space to breathe. Make new friends at the vibrant town square, shop the independent boutiques and cafes, connect with neighbours over a local craft brew at the Fernwood Inn, support theatre artists at the Belfry Theatre, or simply explore the outdoors along the extensive bike paths. For Haven homebuyers, your new home’s neighbourhood has everything you need to live—comfortably and conveniently—at your own pace.
“The neighbourhood played a significant part in our decision,” admits Adolph. “It’s central to a lot of people we know, and we love its walkability factor and accessibly to transit. We both cycle and Haven’s a very bike-friendly building. Our bikes currently take up most of our spare room, so we’re thrilled to get bike storage.”
During the month of September you can also get a chance to win a Cannondale e-bike when you visit the Presentation Centre. Click the learn more button below to book an appointment to visit the Presentation Centre!