New Developments

New housing continues to be developed across the lower mainland. These homes have more benefits than ever before, which is enticing more buyers to lean towards purchasing new rather than a pre-existing home.

Many new homes are being built in subdivisions where each style of home is in unison with the rest and restrictions are made in order to maintain the property value. A developer chooses a location where home buyers want to live. They factor in what people in the area can afford, the amenities that people want, and home features that are sought after by the targeted market.

There are several advantages to buying a new home:

  • Usually a deposit is required when you sign a contract for a new home. This allows
    you to save money while the house is being built, then pay the balance of your deposit
    when you move in.
  • You can customize your home with the builder before the construction starts. This
    includes choosing your countertops, cabinets, kitchen fixtures, lighting, paint colours
    and other options in your home.
  • You can also choose your floorplan. From the open concept to the traditional style
    home; you can put in walk in closets, large laundry rooms, luxury master bathrooms,
    double sided fireplaces, the list goes on.
  • New homes will have all the latest and cost efficient technology when it comes to
    appliances, plumbing, heating and air. You shouldn’t have to do any maintenance for
    several years.
  • New homes are often equipped with built in alarm systems, speakers systems, internet
    wiring and cable. A much cleaner and neater look all around.
  • There are usually incentives from the Government or Builder. Such as rebates or taxes cut which will save you money

While brand new sound great in theory, there are a few disadvantages to consider as well:

  • Brand new homes can sometimes cost up to approximately 20% more than a similar
    existing home.
  • All the beautiful amenities that were offered in the show home can add up. Upgrades
    are marked up for the construction company’s profit and can end up being much more
    than anticipated.
  • Many new developments are built away from necessary destinations like schools,
    grocery stores and shopping centres.
  • If you are one of the first to move in, keep in mind you will be living in a construction
    zone for years to come.
  • With all the forests being cut down for new development, there won’t be the quaint
    tree-lined neighbourhood that an established neighbourhood has. This will take many
    years to obtain.
  • Most homes are being built on much small lots. Your next-door neighbour will be much
    closer to you than you’d hoped for. Backyards and front yards are considerably smaller
    than many pre-existing homes.

Although it may seem like new construction is the way to go, there are many lifestyle factors to consider prior to making the final decision. After all, you are not buying just a house, but a neighbourhood as well.

So with all this in mind before you buy new please call us and we can help you through everything. You should know all the costs and inclusions before you purchase.