Belmont Residences West is a five-storey, 80-unit condominium residence situated along the Galloping Goose Regional Trail near Jacklin Avenue in Langford on Victoria's West Shore.
The building is the first phase of condominium adjacent to Langford's Belmont Market shopping centre on lands formerly occupied by Belmont Secondary School.
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- Minimum 9 foot ceilings in all homes
- Laundry is effortless with a stacking Whirlpool® 2.9 Cu. Ft. with 5.9 Cu Ft dryer or; side-by-side Amana® 4.0 cu.ft. washer and 6.5 Cu. Ft. dryer
- A multi-USB port is conveniently located in every kitchen
- TV outlets and telephone jacks are located where you need them
- Each home is wired for today’s technology and for the future with multi-port and Cat-5e wiring
- A contemporary, solid paint grade door with polished chrome hardware welcomes you home
- Interior doors feature a modern design and polished chrome lever handles
- Choose from two designer-selected, West Coast contemporary colour schemes: the airy, fresh Trail scheme or the warm, earthy Market arrangement
- Wide plank wood laminate flooring creates continuity with main living areas
- Expansive low-E windows maximize sunlight, improve energy efficiency
- Elegant swinging patio doors open onto balconies
- KitchenAid® 30” 5-Burner Gas Cooktop with continuous cast-iron grates
- Self-cleaning 30” KitchenAid® wall oven with Even-HeatTM True Convection
- 30” KitchenAid® stainless steel 1.6 cu.ft. microwave oven and trim kit
- KitchenAid® EnergyStar ExtendFreshTM Temperature Management refrigerator
- KitchenAid® 24” Top Control Built-In Tall Tub Dishwasher in PrintShield Stainless with Third Level Rack
- 30” AEG Perfekt Glide slimline, telescopic range hood
- Retreat to bathrooms and ensuites rich in spa-inspired details
- Relax in a contemporary rectangular soaker tub with polished chrome fixtures
- Step into an oversized spa-style shower with frameless shower doors, hand shower (all ensuites and most second bathrooms) and feature wood-look mosaic hexagonal tile
- Premium quartz stone countertops and large format porcelain tile flooring create a sleek, elegant look
- Oversized medicine cabinet mirrors beautifully lit with sleek LED vanity light
- Flat-panel floating cabinets feature slim brushed chrome pulls
- Dual flush water closets help to reduce water consumption
- Dine, entertain and cook in style in an elegant, well-designed kitchen
- Contemporary flat-panel custom cabinetry with slim brushed chrome pulls on lower cabinets
- Premium quartz stone countertops and a full-height woodlike tile backsplash
- Preparation and cleanup are a snap with undermount double sink in stainless steel and trendy matte black single-lever faucet with telescopic vegetable spray
- Experience the everyday luxury of well-designed kitchen details, including sleek under-cabinet lighting
As we’ve already addressed, this isn’t a down payment. It’s a contribution towards the purchase price. Both of the programs are a contribution towards the purchase price.
As per the article, Ledcor has six phases of residential at Belmont. Phase one is Crossing (the rental buildings), phase two is Residences West, phase three is Residences East. You’re not obligated to purchase at Residences East or West, but you can if you want to.
The smart move is to not pay rent at all, and instead build equity in your condo rather than dragging out a maximum 5% contribution by renting for four or five years while gambling as to whether the market will remain in a pricing plateau or rise.
But you have to live somewhere, and start somewhere towards ownership, so if through your rent you can shift $500 towards a purchase price of a condo that is move-in ready in 2020, or in 2022, you have that option at Belmont. Once you’ve purchased a unit, your $2,000 mortgage (or whatever) is 100% directed into your asset rather than only 25% towards a purchase price, and only up to 5% of the purchase price.
Since you're intrigued by this I would recommend you reach out to Belmont and speak with them. They’ll advise you on the program and what your options are. My article is not a comprehensive reflection of their disclosure statement or agreement and all of the intricacies that it no doubt entails. And neither is your assessment of Bosa’s version since their agreement is no doubt comprehensive and detailed (admittedly I’ve seen neither).
My reading of the Belmont proposal is that your "points" would be used as a discount against the purchase price (as opposed to a refund or payment that you could use to make the purchase). Would you still not need to come up with the full deposit however to get a mortgage (ie the reduction in price doesn't count towards the deposit requirements).?
Belmont Market - Langford March 31st
anyone know anything about the remaining condo buildings to be built? have they been given the go ahead?
Rent-to-own program launching at Belmont Market's rental homes a first-of-its-kind on Vancouver Island
The Westshore municipality's first government-sanctioned cannabis dispensary is planned to open next year as part of an upcoming retail development.
The 6,100 square foot facility will offer programs focused on early child education, arts and the humanities.