- Is owning an investment property in Elora, Ontario profitable?
- What Is A New Construction House?
New homes built today use materials like concrete, steel & wood which makes them different than older houses made with brick, stone or timber. They typically cost less than resale properties because they're being constructed from the ground up instead of remodeling existing structures.
How Do I Find Homes For Sale Near Me?
XONDO's website helps buyers find real estate near them. We offer listings of homes that are currently available and those under contract. Our searchable database contains information about every single residential property available for sale across Canada.
We work closely with local Realtors who provide us with exclusive listings, including MLS® data, to help you quickly identify the type of house in Elora, ON you are interested in buying and get started searching right away.
Why Buy From Us Instead Of An Agent?
Buying a home isn't always easy but when you buy through XONDO, you get the added benefit of having a trusted source to assist you along the way. Whether you're a first-time buyer or experienced investor, we'll be there to walk you step-by-step through everything you need to know about purchasing a new construction home, making mortgage preps and financing options, negotiating offers, finding inspections reports and getting ready to close.
- New Home Elora Buying 101
- When buying a new building in Canada, whether it be townhome or single family residence, most people will purchase a home built prior to 1985. Homes built during this era had some serious problems which could have contributed towards lower quality homes than today's market. These include issues related to wood rot, roofing/exterior materials and poor interior design. The good news however is that we live in extremely stable times for real estate prices and property values. Prices across Canada haven't dropped substantially since 2015 but they still provide value. If anything, they've appreciated significantly while inflation continues to climb. As we move forward in 2020, prices in Canada will continue moving higher thanks to record high immigration levels coupled with relatively strong demand due to population growth. Real estate experts forecasted average increases of 5% per year through 2025. While most Canadians aren't aware, the Canadian housing boom began after 2011 and peaked around 2012. Housing affordability was a huge issue in Canada leading to many young adults delaying or foregoing purchasing first homes until 2018-2019. Since then, many buyers decided to wait longer to get entry level properties or condos with no regrets since prices only moved upwards from 2016 onwards.
If you're planning to buy a pre-built house in Canada, whether it's in Toronto, Ottawa, Vancouver, Calgary, Edmonton, Winnipeg, Regina, Moncton, Hamilton, Kitchener-Waterloo, London, Barrie, Oshawa, Peterborough, St Catharines, Mississauga, Brampton, Ajax, Etobicoke, Scarborough, Markham, Thunder Bay or Kelowna; here are key things to consider:
1. Location / Area Of Interest. Where do you actually reside? Is it close to work & amenities or far away? Do you like living near parks, schools, malls etc.? Will you commute everyday to the city center or would you rather enjoy being close to nature or country life? Would you prefer urban centres surrounded by other residences versus rural areas with farms, lakes or mountains? Your answer(s) should help determine how big of houses or townshows you'd ideally like to own.
2. Price Point. Once you decide on location, make note of the price points relative to comparable locations nearby. For example, if you're willing to pay $600K+ for the privilege of owning a detached 2 storey brick house in Brampton, you'll probably find yourself in similar situations elsewhere in the GTA. However, if you're interested in living close to shopping centers, restaurants, universities, hospitals but still desire smaller sized properties without compromising style and price-point -- then perhaps Windsor area offers better options. Likewise, an older neighbourhood closer to school district or amenities yet requiring large mortgages won't appeal to everyone. Find something that meets your lifestyle expectations AND fits your financial situation.
3. Size And Style. Most people tend to think "bigger = better" but that isn't always true. A small space can offer greater privacy with less maintenance costs. For those who aspire to save money on household expenses, a modest apartment on the upper floors may offer greater savings compared to condo fees and utilities. On the other hand, larger spaces often come with added complexities such as increased traffic and parking concerns...
- When buying a new home in Ontario follow these steps
- If this is your first real estate purchase experience in Canada, then you should consider yourself lucky. We live in beautiful country that offers some of the worlds most expensive homes in real life. If you are considering buying your dream house, then be prepared. Here’s how we can help you get started.
1. Do Your Research First
We recommend starting with doing research on your potential neighborhoods and schools. Find the information on these areas online. There are many resources available like www.schooldirectory.ca and https://www.cityofelorainformation.ca/home-search/.
When searching schools, try to search by distance from home rather than price range per square foot to ensure quality education. Schools close to home tend to have smaller class sizes, better teachers and higher test scores. They usually have less traffic which gives students peace of mind during school hours since they will feel safer walking or riding bikes after dark. You could save thousands of dollars in property tax if you buy a house closer to your child's school.
2. Determine Budget, Location & Price RangeFirst thing to decide is how much you're willing to spend on housing. Then determine whether you prefer living close to work versus far away. Once you've made those determinations, narrow down your choices to the location that best fits your needs. Some people enjoy spending weekends exploring different cities while others would love to retire early. Make sure to take those preferences into account when narrowing down your options.
3. Ask NeighboursFor more tips and tricks, talk to your neighbours who already own houses nearby or rent similar properties. Many times you'll hear great things about a neighbourhood without having ever stepped onto the street. Take note of anything else you learn along the way.
4. Meet A RealtorBefore signing contracts, meet a local professional realtor with extensive knowledge of the area. They will provide valuable insight on current market conditions, recent sale prices for homes in the same neighborhood and other useful tidbits that might influence your final decision.
5. Start Searching OnlineReal Estate agents often promote neighbourhoods on websites like http://homesnap.info/, but it pays to use multiple sites and research thoroughly for each one to avoid getting scammed.
6. Check For Open House NightsOpen Houses are a good source of finding deals. But remember, they aren't always listed online and realtors won't tell you about them unless you ask. So if they show signs of being active, look through listings carefully to see if they meet your criteria. Don't forget to check online too for additional details. For example, you might discover that certain homes come with an optional pool that isn't necessarily part of the listing description or photos.
7. Be Cautious Of Agents And WebsitesSome sellers offer incentives to sell fast, including discounted commissions for closing quickly and cash back bonuses for quick closings. These practices can lead to inflated values, especially when coupled together with low selling costs.
8. Negotiate On Closing CostsMost buyers are surprised to learn just how high these fees can really cost them. Even though we are still talking about only $500-$1000, they are actually worth hundreds more...
- How to find Your New Elora Home or Condo
- For years, the Greater Golden Horseshoe region—the area around Toronto including Hamilton, Oshawa, Mississauga and Brampton—has lagged behind other areas in Canada as far as real estate goes. The reason given was “too many people moving here; they take jobs away from Canadians who live in cities like Toronto, Vancouver, Calgary and Edmonton. So people just stay put instead of moving down south. But that’s changing fast.
More than half of all job openings in Canada are going unfilled because workers aren’t being hired in some parts of North America due to labour shortages caused mainly by immigration policy changes.
So, while the Canadian government isn’t willing to loosen restrictions on skilled immigrants coming into the country, more citizens are leaving urban centres and flocking towards places like Elora, Ont., the town known to locals as the city built on waterfalls.
If you decide to get involved yourself, be prepared for what it takes to buy property these days. Buyer beware! Read this article for tips on buying real estate.
What Is Housing Demand Like Today?
Home prices continue to rise across the GTA and beyond, but the rates vary greatly depending on neighbourhoods. Generally speaking, the highest demand is found downtown near transit stops and high traffic corridors, and then move outward to lower density suburban areas closer to shopping malls and big box stores. Prices will only appreciate faster once developers complete projects along those corridors and fill land left vacant under existing developments. And, as always seems to happen when something becomes available to purchase, buyers rush in hoping to snap up a piece of prime waterfront property without considering the cost implications. If you haven't already discovered this, expect a buyer scramble as property values skyrocket during peak periods.
Who Buys Property Here?
People living outside of the core of Toronto tend to gravitate toward single family homes in communities nearby, rather than downtown condos. Many millennials prefer to settle in smaller, quieter suburbs and townships close to good schools, parks and recreation, grocery outlets and employment opportunities. Those same folks also value privacy and personal space, which makes them less interested in dense apartment buildings and condominium complexes. Also, as mentioned earlier in this document, most non-Canadians come to Canada for economic purposes, so owning a house near work is key since the majority of Canadians still commute long distances each day. As well, many retirees are relocating to rural communities because they enjoy spending more time outdoors and getting connected with nature. They often find themselves needing help with transportation services provided through community seniors clubs, churches, health care facilities and local governments. More recently though, younger families are opting to move further east and west from central Toronto as they seek better school options, especially for children. While parents may complain that it adds expense, the higher costs associated with commuting tend to outweigh that concern in the grand scheme of things.
How Much Can I Afford?
This depends largely upon whether you're purchasing a starter home or upgrading from your current dwelling. According to recent stats from Re/Max Canada, a typical detached bungalow sold for $440,000 back in 2012 versus a newer semi-detached unit valued at $1...
- Why is Ontario's Real Estate Market Booming?
- In order to be eligible, Canadian citizens must reside permanently in Canada and hold citizenship through birthright Canada status. People who meet this qualification are deemed “eligible” under section 84(1)(a) of the Immigration & Refugee Protection Act RSC 1985. Individuals seeking permanent residence will need to fill out an ITP Form and submit along with evidence that they intend to settle in Canada permanently. Once eligibility has been confirmed, applicants are then subject to medical examinations by health officials.
This process typically takes anywhere from 4–6 months depending on personal situations like family ties in Canada and employment. After approval by immigration authorities, individuals who want to become permanent residents begin filling out paperwork and getting ready to move to Canada. Some people complete these steps while living abroad temporarily to get around strict visa limits for visiting Canada; however, once those visas expire, these individual no longer qualify as being eligible for residency applications in Canada.
While some Canadians find themselves without sufficient funds due to recent economic issues or other factors, many still decide they would prefer life in Canada rather than remaining overseas. Individuals who fall into this category should contact Ottawa immigration to discuss options available to them moving forward. One thing to consider is whether you really desire permanency as opposed to just temporary stay. If that's the case, ensure you've secured adequate finances prior to applying for permanent resident programs.
If you're considering buying a property in Canada because you hope to retire someday, it might not always be possible to live entirely off your investments, especially during retirement years. Although most government income assistance benefits are provided on top of existing pensions, that won't necessarily cover every expense related to old age. Many seniors depend heavily upon fixed incomes and assets to secure themselves financially, and having enough savings and/or insurance to support yourself until your pension kicks in could help protect against unexpected expenses. Even though the average cost of food increases each passing decade, inflation decreases as does real estate costs making the value of older properties worth considerably less today versus when they were purchased. A good rule of thumb is to purchase housing well below market rates at the peak of the cycle. For example, if something sells for $160K 10 years ago but only trades hands for 80% of that amount today, expect similar losses in resale value unless additional adjustments are made.
Another benefit to investing in real estate in Canada is the long term capital gains taxes you'll pay. Most countries assess tax liability according to a percentage of annual profits derived from real estate transactions. Tax exemptions apply to certain types of homes, including primary residences and vacation houses used primarily for recreational purposes. However, the rules vary state-to-state and country-to-country. Investors interested in realty purchases in Toronto can explore different areas to determine which ones offer a combination of stability and appreciation potential. There are dozens of districts within the GTA offering varying degrees and qualities of appeal. These include Yorkville, Liberty Village, Westmount, Forest Hill, Cabbagetown, St James Town, Kensington Market, Parkdale, Riverdale, Weston Village, Downtown Core East Toronto and North Etobicoke. Each area offers unique opportunities to buy cheap condos close to amenities, restaurants, cafes, entertainment venues and parks...
- New Construction Investment Opportunities in Elora Ontario
- In this post I will be sharing some key information that should help buyers understand why buying in Eloroa makes sense today, and how things could potentially shift going forward. As always please remember this info is only my opinion and does not represent anyone else’s experience. I am happy to help people who wish to learn further but cannot provide legal representation.
Bayport real estate market history – A brief review:
Bayport was originally developed in the 1970’s and 80’s, primarily by developers who sold lots on the bayfront. The area had become popular due to the waterfront views available. However with the economic downturn in 2008 many investors lost confidence and began selling their homes at discounted rates and moving away. Many properties sat empty until 2014 when they became desirable again for a variety of reasons and prices increased rapidly. The average house price per square foot in Bayport today sits around $600/sq ft. which is higher than other areas in Toronto like Oakville and Vaughan. It’s still lower than Mississauga though.
Why buy Bayport real estate right now?:
If you’re looking to purchase property Bayport offers a wide selection of homes ranging from starter condos to larger family houses. There are currently many options available to buyers looking to invest and move quickly. If you’re interested in investing and building equity fast then you should be aware of these facts and consider them carefully.
1) Buyer demand: The Bayport housing market is experiencing strong buyer interest. Demand is high because many investors want to sell their homes and get cash back. Investors who purchased Bayport real estate during 2015-2017 and 2018 are already benefiting from rising values and should expect similar returns in 2020-2023 as long term trends play out.
2) Interest Rates & Tax advantages: The Federal Government is providing incentives to encourage homeownership through mortgage tax deductions and reduced interest costs on loans. These benefits apply to both first time buyers and experienced investors alike. Investors can deduct mortgage payments made against principal residence purchases while first timers may benefit from a 15% discount on qualifying expenses paid towards down payment deposits. Both scenarios allow buyers/investors to save thousands in taxes each year.
3) Location Advantage: Located just north of downtown Toronto, Bayport is easily accessible via Highway 401, Hwy 7, Hwy 27 and Hwy 404. It takes less than 10 minutes to commute downtown by car which provides residents with quick connections to jobs and entertainment. There is no shortage of restaurants, shopping malls, schools, hospitals, parks and transit stations nearby making living here convenient and attractive to families and singles. It also means that Bayport is close enough to work without having to travel far from home.
4) Community Benefits: Living near the lake gives residents a unique advantage over those in neighbouring communities. Residents enjoy a beautiful setting surrounded by green space and water, along with great recreational opportunities including sailing, boating and swimming. Residents also benefit from being located next door to the Elora Marina and Yacht Club which offer an array of amenities for residents including boat rentals, private docks and community facilities.
5) Potential Growth: While Bayport real estate market activity has slowed slightly since 2016...
- Examining Real Estate Market History in Ontario
- If you live in a market like Toronto, Vancouver, Calgary or Ottawa but you aren't completely satisfied with the prices being offered by builders then buying preconstruction can be a great way to get ahead of buyers who already have deals lined up within these high demand markets. Buying presale gives you exclusive negotiating power over the price and often times the builder will lower his asking price once he learns someone else wants his project. But just because they're lowering the price does not mean every seller will take advantage of this offer. If you have multiple offers coming in on a property when the buyer pool becomes smaller then sellers may decide to hold out until the competition leaves. So while presales should always help bring down the overall cost of building homes in hot real estate markets, you could find yourself paying top dollar for your dream house!
To ensure you maximize your buying power you'll need to consider several factors including location, size, features.
[IMAGES: XONDO Pre Construction Buyer's Checklist]
Location: A lot of people buy preconstruction condos for different reasons depending upon if they plan to stay put or move after purchase. For those planning to leave, buyers interested primarily in proximity to downtown areas tend to prefer condos which allow them quick and direct access to work, school and transit connections. Those planning to keep roots planted however, would prioritize neighbourhood parks, recreation centres, schools and shopping options close to home along with other features like garage parking space with ample storage potential.
In terms of amenities, buyers seeking walkable neighbourhoods typically favor locations that feature nearby transit stops or walking paths connecting to commercial hubs or the waterfront.
Size: Many consumers believe bigger spaces = better value. While larger floorplans generally come with higher monthly maintenance costs than small ones; many buyers choose to pay extra for additional square footage to minimize the amount of furniture required to furnish each unit and avoid having to deal with moving large pieces twice. Larger units also accommodate more guests meaning less cleaning/cooking responsibilities per family member.
Features: Beyond size & Location considerations, homeowners tend to prioritise features that suit specific lifestyles such as laundry facilities, indoor swimming pools, gymnasiums and saunas, private balconies, fireplaces, rooftop decks, gourmet kitchen appliances, and upgraded finishes.
For example, a couple considering a 4 bedroom 2 bathroom penthouse with a fully equipped chef's kitchen, 3 piece washer dryer combo and separate dining area could expect to spend upwards of $600 per sqft ($564 for units under 1,000sq ft).
However, an affordable alternative would be finding a similar sized apartment with fewer perks, for instance instead opting for a studio style layout and only getting full use of one master bathtub rather than both bathrooms. By doing so, a purchaser stands to save around 20% on total living expenses without sacrificing other critical requirements.
Blog Title: Why It Is Important to Learn From Others' Mistakes When Planning Your Business Website Design
Blog Description: Planning business website design is not about...
- Getting approved for your New Home Purchase in Elora, Ontario
- Bayport real estate market statistics:
Average Sales Price 2018 $2.5M/lot; 2019 Average Sales Price 1.65M$ / lot
Listing Price Range 2017 2.3M to 3.1 million dollars
Inventory 2018 14 Units ;2019 13 units
Median Sale Duration 2016 8 months
Sale Volume 2018 7 sales, 2019 5 sales
Listings Sold 2017 16 listings
Year Over Year Active Inventory Percentage Change 2018 16%, 2018 average price increase 0%
Websites: bdprweb.ca & cbdc.org
Blog Posts Title: How to get started building a business in Canada? | Business Development Programs for Canadians
Author Name(s)/Company: CBDC
Blog Post Content:
Business Development Programmes For Canadians
How to Start Your Own Online Business. The first step towards entrepreneurship is choosing the path that makes the most sense for you personally, which could include starting part-time while working full time, starting small then scaling your business as quickly as possible, setting some reasonable financial expectations early on, taking advantage of online educational opportunities, and being realistic about potential returns. There are many ways to go about this decision making process. And depending on your circumstances, any given approach will be better than another for different people. But for those who decide they want something beyond a 9-to-5 corporate job, these steps offer a good place to begin thinking systematically through options available today.
What Do I Need To Start My First Canadian Startup? A computer that runs modern web browsers with internet connectivity. If you use Google Chrome as your primary browser, you'll definitely already meet this requirement since it's built in. Other popular browsers like Firefox are fine, but IE no way — sorry. Internet connection required for this program because some websites won't work unless you're connected, so it helps if you have reliable high speed internet service. An email account or other method of contact management. Even if you only want to receive emails about certain projects, getting organized on paper, and managing contacts electronically helps manage multiple things at once. We recommend Gmail accounts for this purpose since you always have them ready to go online with minimal effort. Email software or cloud storage space. A document editor capable of handling complex formatting requirements. Most word processors allow you to save documents in formats suitable for printout (such as.pdf). However, a professional quality text processor is ideal for editing longer pieces. Many office suites, including Apple Pages, Word Processor and LibreOffice offer advanced templates but they aren't necessarily optimized for writing long articles. If you're comfortable using MS Access or MS Excel, either version would suffice. Both are relatively inexpensive alternatives to LibreOffice that provide powerful tools for organizing information and producing reports. They both store files locally on disk rather than relying upon networked computers or remote servers. A website hosting provider. We recommend BlueHost for shared hosting solutions, Dreamhost for VPS services (virtual private server), and Hostgator for dedicated hosting. All of whom feature affordable rates without sacrificing quality and support. These providers will host your site until you reach a scale that justifies paying someone else to run the operation. Some companies offering hosted sites...
- What makes Xondo Ontario's Most Convenient New Condo/Home Buying Platform?
- We understand buying a house can be stressful enough; but, it doesn't have to be! We've put together this handy little checklist to help ease some of those concerns.
1. Find Your Ideal House
This step should probably go first because without knowing exactly what you're searching for, chances are you'll end up wasting lots of time trying houses that aren't really perfect. Start by thinking about what type of space you'd like. Are you after a spacious family home, or perhaps something smaller? Do you want a detached house, townhouse or apartment style building? How many bedrooms would you prefer?
2. Set Your Budget
Next, it's time to figure out just how big of mortgage payment you could comfortably afford. The average price range for a single level 2 bedroom in Canada is $300k-$400k depending on location while a 3 bdrm will usually cost around $350K to $500K.
3. Check For Sales Activity & Listings On MLS® Systems
Now that you've got a basic idea of what you're after in terms of size, layout and neighbourhood feel, it's worth taking a good look at sales activity and listings on local real estate websites. These tools provide insight on which properties are currently selling quickly, making them prime candidates to consider when putting together a shortlist of homes for further inspection. If you see anything interesting, get in touch with us and book an inspection appointment.
4. Make Sure You Have All Necessary Documents Ready
Once you find yourself inside a property, it's crucial to make note of everything that needs to happen during your visit including: floorplans/blueprints, legal agreements, permits, inspections reports, utility bills and more. If you can prepare ahead of time, it saves everyone involved plenty of headaches down the road. And speaking of...
5. Schedule An Inspector Appointment
If possible, try scheduling an inspector visit prior to touring a potential property as they often offer valuable information regarding maintenance issues, roofing problems and other details that can save you thousands in repairs down the line. They'll typically charge anywhere from $150 -$250 per hour, plus travel fees, so factor that into your overall costs.
6. Take Notes & Photos Of Everything To Avoid Confusion Down The Line
Make sure you take detailed notes of each and every detail of a particular place including measurements, layouts, amenities, views/exterior design details, appliances, fixtures/furniture and more. Once you've taken these photos, upload them onto Xondo's secure cloud system so that you won't forget anything and can easily refer back to them whenever necessary.
7. Don't Neglect Maintenance Issues
While most buyers tend to focus solely on interior spaces such as bathrooms, kitchens, living areas and bedrooms, they often neglect exterior spaces such as decks, patios, driveways and garages which are equally vital parts of any home.
8. Be Patient
Finally, once you have found a few options that fit your criteria, wait patiently until you receive offers on a couple of them. While it doesn't always work, sometimes sellers accept counteroffers on houses they previously rejected due to poor market conditions.
- How Xondo makes Home Buying & New Construction Investing in Elora Easy?
- XonDo was created by real estate experts who understand the complexities involved in buying property. We provide comprehensive information to help buyers navigate through the complex world of investing in real estate without getting lost along the way.
We offer unbiased advice on which neighbourhoods offer the highest potential return while avoiding pitfalls like bad schools, crime rates or lack of green space.
Whether you're planning to purchase your first house or invest in several properties, this guide will take you step by step through every aspect of the buying process. From choosing the neighbourhood, to searching the MLS, making offers, negotiating and everything in between. XonDo helps you avoid common mistakes made by novice investors, saving both time and money during the whole process!
To learn more please visit us at https://www.xondo.ca/investment-guide
Post Name: 5 Things I Wish Someone Told Me About Starting A Food Business When I Was Younger
Blog Post Title: Five things I wish someone told me about starting my food business when i was younger
Image Source: Unsplash
Author Profile Image: http://unsplashed.me/images/5-things-i-wish-someone-told-me-about-starting-a-food-business-when-ive-been-younger-2
Author Bio: Aspiring entrepreneur, writer, blogger and influencer, Jessica Loughran, loves sharing her stories online. She writes about personal experiences that inspire people around the globe to live life to the fullest and be fearless and authentic.
Jessica’s work has appeared in numerous publications including Forbes, Huffington Post, Entrepreneur Magazine and Women 2.0. Her writing style combines humour with practical tips and inspiration to encourage readers to embrace themselves, pursue their passions and find their purpose in life.
Jessica currently lives and works in Toronto Canada. She blogs regularly on topics ranging from health and fitness to travel and entrepreneurship. Follow @jessicalouisiana for daily updates and inspirational posts!
[END OF AUTHOR PROFILE IMAGES AND CONTENTS]
Blog post title: Top 7 Tips For Getting Started On Instagram Marketing | Digital Nomad
Blog description: Learn how digital nomads get started with Instagram marketing and why they love it.
Author profile image: https://unsplashed.me/_2_smaller
Author bio: My name is David Smith aka Diggity Dogg and welcome to another episode of #DigitalNomadTalks. Today's podcast is going to be talking about top 7 tips for getting started on instagram marketing. So today's topic is gonna cover some of the basics on how to use and market on Instagram. If you wanna learn more about the other aspects of Instagram, just hit the link below. And then we'll dive in deeper into each tip. But first lets talk about why Instagram marketing is awesome for digital nomads.
Why Instagram Is Awesome For Travelers And Digital Nomads:
So, Instagram is great because it's really good for travelers. Because it's so visual. And,...
- How To Make Money On a New Home or Condo Purchases in Elora, Ontario
- What Is A New Construction Property?
New homes and condos provide better value than resale properties because they usually cost less upfront but pay off quickly after purchase. They offer buyers a sense of excitement while providing them flexibility regarding moving day and design choices.
If you decide to buy a new house/condominium then be careful NOT TO MAKE THE MISTAKE OF PURCHASING SOMETHING THAT HAS BEEN “MAKED UP AND CODIFIED”!
Most builders will sell an idea rather than actually deliver a plan or specification to each builder who buys land & builds from them. This leads to endless delays and frustrations with little end result or product. We strongly advise against buying anything other than fully built concrete slab houses or condominium buildings from reputable builders.
For example, many homes sold today come without kitchens or bathrooms which makes building costs skyrocket since these things typically account for 50% of a typical price tag per square foot. As a buyer, YOU SHOULDN'T HAVE TO BURN YOUR MONEY BUYING UNBUILD CONSTRUCTION PROPERTIES OR FIND OUT LATER THAT WHAT THEY SHOW IN THEIR PICTURES REALLY DOESN"T EXIST AFTER ALL!.
[IMAGE 1]: This image displays the kitchen space layout of most of the newer homes today being sold online. Most of these layouts DO NOT include full appliances like dishwasher, fridge, stove, microwave oven, coffee maker, water boiler. So this leaves homeowners with expensive upgrades if they choose something different than the original specs. [IMAGE 2], [IMAGE 3]: These photos show another type of kitchen floorplan with no counterspace whatsoever. Many people would LOVE a home like this instead of having to remodel their existing home or condo which could take years and thousands upon thousands of dollars to achieve.
[IMAGE 4]: If the builder does use concrete slabs as opposed to wooden framed floors, then chances are he won't install proper insulation under the foundation which drastically increases heating bills in winter months. Proper foundations are essential especially in colder climates since freezing and thawing temperatures cause cracking of wood framing members. Insulation is required even in warmer areas of Canada as well. Another problem found in some cases is insufficient drainage systems. Homes must drain properly otherwise flooding issues occur due to excessive rains during springtime showers and snowmelt from December through March. Also, remember to check for termite infestations BEFORE signing a contract since this typically requires additional inspections or treatment fees and often times the owner's insurance company pays for those treatments. Other problems include poorly installed plumbing fixtures, electrical wiring outlets or switches and improperly dimensioned doors and windows. All of these issues can significantly increase installation costs and delay sales.
When searching for preconstruction property, beware of sites offering deals on "buy now prices". There should always be a provision stating whether the advertised deal includes financing, legal and inspection charges. Typically, sellers only negotiate down the purchase prices once contracts are signed, and you become bound to them until closing occurs. Therefore, they cannot lower the buy now price below the contracted selling amount.
In addition, keep in mind that preconstruction property typically carries higher maintenance fees associated with the home...