New Construction Grey Bruce
Are you in the market for a new house or cottage? If so, you're likely feeling a mix of excitement and anxiety. It's an exciting time, but it can also be overwhelming. There are a lot of things to think about! In this guide, we will walk you through buying new construction and custom-built homes step-by-step. We'll give you tips on how to find the right custom home builder and locate a great lot to build your next dream home or cottage!
We'll also provide details on making an offer that the builder will accept and more! So whether you're just starting to think about building your custom home or you're already in the process, this guide has something for you.
How to Find a New Home Builder
When it comes to choosing a new home builder, there are many things you need to consider. First and foremost, is the builder reputable? What kind of reputation do they have in your community?
Once you've done some research on builders in your area and narrowed down your search based on factors like location or price range, then it's time to start visiting their model homes. This will give you a good idea of the quality and style of homes they build.
Another thing to keep in mind is whether or not you want to work with a custom home builder or one with pre-made floor plans. You can get precisely what you want in a home with a custom builder, but it will likely be more expensive. If you go with a pre-made floor plan, you may have to make some compromises on your wants and needs, but it will be less expensive.
What are some things I should consider when choosing a new home builder?
Some things to keep in mind when choosing a new home builder include:
- The reputation of the builder
- How long they've been in business
- Whether or not they have pre-made floor plans available
- If they are willing to work with you on customizing a plan
- How many custom-built homes have they completed?
- What kind of warranty do they offer?
- Are there any other costs beyond my new home build purchase (e.g., HST)?
- How are their communication and follow-up?
Finding Custom Home Builders
Grey Bruce Owen Sound has several great construction companies and contractors specializing in building custom homes and cottages. A great place to find a local company is on the Tarion Website. It's a good idea to ensure your home builder is insured under Tarion.
What is Tarion?
Tarion is the largest home warranty provider in North America. They offer protection on new homes, including custom homes and condominiums, and provide consumer education services throughout Ontario. Tarion has been around since 1976. Their mission statement says: "To safeguard new home buyers by enforcing warranties that protect their investment."
What Does Tarion Cover?
Tarion covers new homes in the province of Ontario. They protect things like structural defects and water penetration issues and provide coverage on significant systems breakdowns such as plumbing or heating problems (which are usually excluded from typical home insurance policies).
How Long Does Tarion Coverage Last?
Tarion coverage lasts for seven years from the date of closing. During this time, any claim made will be paid out by Tarion as long as it is deemed eligible under their guidelines. The best part about having Tarion coverage is that it protects you against any defects or problems with your home even after the seven-year mark has passed. For example, if there's a leaky faucet in the kitchen which causes water damage to the floorboards underneath and these need replacing due to rot (which could happen years down the line), then Tarion would cover the cost of this repair.
What Are the Eligibility Requirements for Tarion?
To be eligible for Tarion coverage, you must purchase a new home that is: -A detached, semi-detached, townhome or condo unit; OR
-A built-on-the-land home (built by a builder or developer).
The home must also have been built for sale and not as an owner-occupied residence.
What Do I Need to Apply for Tarion Coverage?
You will need:
-A copy of the warranty from your builder, with all required information filled in; OR
-Your national insurance number (or the number of the person for whom you are buying the home).
You do not need to be a Canadian citizen or resident to apply for Tarion coverage.
Are Home Builders Required to Be Registered With Tarion?
Yes. All builders and developers who build or develop homes in Ontario for sale must be registered with Tarion. If you're unsure whether your builder is registered, you can check the Tarion website.
If I have Tarion, Do I Need a Home Inspection on A Newly Built Home?
One question that often comes up when buying a new home is whether or not you need to have a home inspection. The answer, unfortunately, is it depends. If the builder has already completed the final walk-through and corrected all of the found issues, you likely don't need an inspection. However, if any outstanding issues need to be fixed, it's a good idea to have an independent inspector come out and look at them for you.
Tarion Home Inspection
If you purchase a new home in Ontario, it's essential to know that Tarion offers an inspection service. This is not something that all builders provide, so they may not offer this option if you're buying from a small builder. It's also worth noting that the inspector will only inspect items covered under warranty, so they won't look at things like the roof or foundation, which aren't covered by Tarion's warranty program.
Should I use a Real Estate Agent to Buy A New Home Build
Although working with a local Real Estate Professional isn't required, you may experience some added benefits. Having an experienced Realtor on your side with their knowledge and unique perspective can make a significant difference.
At Century 21 In-Studio Realty, we have agents who have experience buying and selling new home construction. We have you covered from Kincardine to Port Elgin/Southampton, Markdale, Owen Sound, and up the Bruce Peninsula.
Allow our team to help you navigate the process. As a client, we'll listen to your wants and needs and focus our efforts on making your dream home a reality.
What is the average cost per ft when building a new home?
It depends on the location and size of the home, but typically it costs between $100 and $200 per square foot to build a new home. Keep in mind that this is just an average - prices can vary greatly depending on the builder, materials used, and other factors.
What sort of upgrades do home builders offer?
It varies from builder to builder, but typically you can expect to find things like kitchen and bathroom renovations, flooring, siding, and windows offered as upgrades. Keep in mind that the prices for these upgrades will vary depending on the contractor you work with.
Often it is easier to add improvements to your new house project over negotiating a lower price on the sale.
How Long Does it Take to Build a New Home?
It depends on how big and complex your home is! A small house that doesn't have many unique features can be built in just two weeks, but larger homes or homes with more features can take up to six months. Remember that this is just the construction phase - it will likely take another few weeks for things like painting and flooring to be completed.
Tips For Making an Offer on a New Home
When making an offer on a new home, there are some things to keep in mind:
- What upgrades will you be completing on the property after you take possession?
- It's a good idea to negotiate upgrades into the price of the home.
- What have similar homes and models sold for in the past year?
Checklist for Buying a New Home
- Figure out what you need and want in a home
- Create a clearly defined budget
- Research different neighbourhoods that fit your needs
- Start looking at listings online to get an idea of prices and availability in those areas
- Explore various online resources for viewing and designing floor plans
- If you find one that interests you, see it in person! This will help narrow down what kind of home suits you best.
How do I know if a new home build is right for me?
Do we undergo a significant construction and renovation project, upgrading floors, kitchen, bathrooms etc., OR do we design our dream home!?
When deciding if a new home build is right for you, there are many factors to consider. First, think about how long you plan on living in the house and what your budget is like. If it's only temporary or not much money available, then maybe something smaller would work better with your lifestyle than building a whole new house.
Second, consider your needs and wants in a home. Do you want a lot of extra space? Do you require a custom design? A pool or nice backyard? How important are things like the layout of the rooms or energy efficiency to you?
Once you review all these factors, it will be easier to determine if buying a new home would work well for you.
Let us turn your dreams into a reality by putting our skills and experience to work for you! Contact us today.
The information provided on this page is deemed accurate, but it is up to each person to exercise their due diligence when moving forward with purchasing a new home.
CENTURY 21 In-Studio Realty Inc. Brokerage
INFO & SERVICES
CENTURY 21 In-Studio Realty Inc. Brokerage
927 2nd Ave E, Owen Sound, ON N4K2H5
(519) 375-7653
INFO & SERVICES
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