Buying a new home has many advantages
How do you benefit from buying a new home? Let me count the ways. And there are plenty. The amount of choice across the Greater Toronto Area is amazing, and there is a new home, townhome or condominium suite out there to satisfy every taste and pocketbook.
When you buy new, you start out fresh. Purchasers say they appreciate being able to select the colours and finishes for their surroundings. A visit to the builder’s Décor Store is an inspiring thing, with literally thousands of standards and upgrades to choose from. New homes come close to being custom by the time purchasers finish their selection process. There are also design consultants on hand who are trained to help you visualize your future home and make the best choices for you.
When you move into your new home, you won’t have to renovate, which is often the case with resale. I sometimes hear people say they can’t afford a new home, yet they buy a resale home and spend thousands of dollars to bring it up to their living standards. And remember, when you renovate, one thing can lead to another — and yours may become one of the stories about a small project that ends up a huge one for that very reason.
With a new home you also get the benefit of modern design that speaks to today’s lifestyles. During the 20th century, people shifted from a formal to a more casual living style in their everyday lives, and builders and architects responded with layouts that incorporate informal spaces. Nowadays, everyone leads such hectic lives that purchasers look for open-concept areas that encourage family togetherness for things like cooking, dining, homework and relaxing. Usually in both low-rise homes and condominium suites, the kitchen is a central meeting area, with an adjacent living/dining room, great room or family room serving as an oasis for busy families.
In addition, many new homes now offer nine-foot main floor ceilings as a standard feature and include generous windows. New homes are also hard-wired to accommodate many of the entertainment and communications media we love.
Practically speaking, new homes can be more economical than resale houses because they are more air tight and energy efficient. Builders adhere to the Ontario Building Code, which was revised in 2006 with more than 700 technical changes such as requiring new homes to be constructed with near-full-height basement insulation. You get the most up-to-date plumbing and heating systems, and much more. To top it all off, new homebuyers are protected by Tarion Warranty Corporation (www.tarion.com), which provides them with deposit protection, plus protection against defects in work and materials, major structural defects, etc.
The reasons for choosing a new home include avoiding stressful bidding wars, which can happen in a strong resale housing market. And remember that today’s new homes are tomorrow’s resale homes. The prices of new homes are escalating, so purchasing new includes a built-in profit. Mortgage rates are still low, so now is the perfect time to buy. When you consider the best value for your hard-earned dollar, I believe new homes are the way to go.