Whether you’re considering buying a new construction home or resale home in Toronto, you’re looking for the best home your money can buy. You want the reassurance of knowing you’re buying a well-constructed home, free of deficiencies. That’s why you’ll spend weeks or even months looking at the real estate before you make a choice.
A New Construction Home Versus a Resale Home
When you buy a resale home, you’re relying on the good word of the seller and the skill of your home inspector. There are a lot of unknowns because years of damage or neglect can be hidden beneath the drywall. Particularly in Toronto, where a great many of the homes that are available are more than 50 years old, there are a variety of things that can be missed in a home inspection.
- Concealed plumbing problems, leaks, or past water damage
- Out-of-date or poorly installed electrical wiring
- Out of date heating, air conditioning and ventilation equipment
- DIY repairs or patch-jobs that won’t withstand the test of time
Resale homes can also be subject to highly competitive pricing situations that can leave you open to disappointment, or can cause you to spend more than you had intended to. Sometimes, you can be pressured to submit firm offers, without the prior guidance of a lawyer or home inspector.
With a new home, you can be assured of a few key things, which can make the experience much more enjoyable. You can rest assured, having the confidence that a warranty brings because all new homes are assured by TARION.
In addition, when you buy from a builder, you do not have to ‘outbid’ anyone else. While prices will typically raise a little over time according to demand, builders openly share pricing with prospective buyers and these are fixed until a price increase happens.
Other Benefits of Buying a New Construction Home
There are a great many benefits of buying a new home from a builder:
- You are given an opportunity to ‘see inside the walls’ of your new home prior to drywall. This is a great chance to get a look at the home’s infrastructure before it is covered up
- Your home is constructed by highly skilled tradespeople who are experts in plumbing, electrical, heating and air conditioning and more
- New homes are built with all-new materials and brand-new HVAC equipment is installed, along with new appliances (if appliances are included in your agreement of purchase and sale)
- You are given an opportunity to view the craftsmanship of your home prior to closing
You Have More Choice with New Construction Townhomes
If you’re not yet sold on the idea of buying a new construction home or condominium over a resale home, there’s one final thing to think about. And this is a big one: design plays a big role in your enjoyment of your home, your pride of ownership, and it also makes a big difference in the future resale value of your home.
And there is also the simple pleasure of choosing finishes and design features that reflect your own personal tastes. That’s right, getting the home you’ve always wanted to have!
You can learn so much more about the many design upgrades and options available from BAZIS at their newest Toronto neighbourhood, Bartley Towns, at Victoria Park and Eglinton Ave.
Tips for Buying a New Home from a Builder
- Do: Ask lots of questions, be inquisitive! A representative will spend time with you so that you understand everything about the community and the home’s features and finishes
- Do: Your own research. Drive the neighbourhood and get a feel for the local shopping and schools, and your typical routes to work
- Do: Ask for copies of floorplans and the site plan (which is a bird’s eye view of the lots that are available) along with other materials such as an amenities map and finishes sheet
- Do: Get your financing in order. It’s important to know what the bank will approve you for. It’s ideal if you can save a little back to spend on upgrades, such as extra lighting, electrical upgrades, rough-in washrooms, or other items that are harder to do later on
- Do: Ask for an upgrade price book so that you can plan your upgrades at the time of sale
- Do: Take advantage of grand opening or pre-opening incentives. You can usually get the best price this way
If you’re considering buying a new construction home in Toronto, take a closer look at Bartley Towns, a new community coming to life at Victoria Park and Eglinton Ave. Bartley Towns is close to the new Eglinton Crosstown transit, and the area is being transformed!
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