10 Tips to Save You Time and Money

1) Get in Touch with Your Agent. Before you visit your first model home, ait down with your agent and and do do your your homework. home You'll want to be prepared so that you can determine a comfortable price range for your new home. Determine a Comfortable Price Range If you own a home, you'll first need to know the net proceeds from its sale in order to determine how much cash you'll have to work with. Don't simply ply estimate this but carefully calculate every possible selling cost. If you're a first time buyer, you'll need to first qualify your income. Determine the size of your downpayment, then work out a monthly debt load so you can deter- mine a comfortable price range

2) Sellers' Agents Versus Buyers' Agents. Here's a good point to remember. The sales agent in the model home represents the builder, not you. They are known as sellers' agents. As a buyer you can work with a buyers' agent at no additional cost. It's his/her business to best rep-resent your needs by being knowledgeable about home construction, warranties, financing. differences in pricing, quality, even lot selection so that you get the best value for your money.

3) A Builder For All Reasons. Like all tradesmen, builders vary in their fields of expertise. For example there are builders who specialize in craftsmanship, others who are known for their innovative use of space, and those who offer below-market financing or cus-tomer attention during construction and after move-in. Determine your own specific needs or preferences then shop around for a builder that will best address your requirements.

4) Get the Facts About Your Builder. Before making a final decision, it is wise to check out the reputation and financial strength of the builder. Get "spec sheets" on home features covering everything from floor plans to energy efficiency, including lot availability and delivery of your home. * see back panel for more information

Check Out the Neighborhood.
-Learn as much as you can about the community.
-Discover what amenities it has to offer.
-Investigate if financial reserves have been set aside to build or replace major amenities like schools or community roads
-Find out from local land-use officials what she is planned or could be constructed in the area, especially where vacant land is applicable.
- Review the rules for the homeowner's association, or find out if one will be set up
-Think of how you will be affected by commuting routes and times.

5) Choosing Options and Upgrades. The least expensive the base price of the house is, the more options and upgrades you select will add to the price.

Options are items the builder installs during construction, such as adding usable space like a sunroom or a powder room. These features can add the most to the resale value of your home.

Upgrading means selecting quality above "builder standard" such as carpeting, ceramics, detailing, kitchen fixtures and appliances. Be sure to take advantage of builder incentives that offer free upgrades or credit off the sale price. Remember, you can add a deck, finished basement or landscaping later and sometimes for less money.

Remember to keep upgrades and options in par with the neighbourhood. Don't overprice the neighbourhood. When you want to sell it will be hard to recoup these upgrade cost.

For Example a pool has a great enjoyment value. But not wise in a a neighbourhood full or starter homes

Negotiations. Often buyers don't realize that there may be room for negotiating price, upgrades or options. For example, you have some scope for negotiating with the builder if she has a completed a home but hasn't sold it. Also some "premium lots" are priced higher and are sometimes saved to be sold last. Keep in mind that typically, all lots cost the builder the same, so be sure to enquire about lot pricing. Builders may offer discounts or special financing to help close a sale.

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See Step 6: HST Rebate Issues