Are you thinking about buying a new home? Investing in pre-construction real estate might just be your ticket to success. There are many benefits to choosing an investment like this. Most importantly, it’s an opportunity to save money. Developers offer pre-construction prices significantly lower than the final sales price, giving you a chance to grab a bargain and become one of the early birds.
Despite the clear advantages of buying a pre-construction project, there are still many misconceptions about the process. Let us take you through how it really goes.
Meet with the team
Before making any decisions, you’ll meet with our friendly sales team, which will guide you through the entire process of looking for a pre-construction project. With more than 30 years of experience, City Park Homes can advise you on the best way forward. During the meeting, you’ll have an opportunity to ask all your questions and develop a strategy that works for you.
If you have a trusting representative (a realtor) that works with you, they’re welcome to join the meeting too!
Explore the options
Next comes the fun part – looking for your dream home! With our team, you’ll have an opportunity to look through several options for plans, layouts, designs, features and finishes. At City Park Homes, we provide a unique opportunity for each buyer to create a home tailored to their personal style.
Make the down payment
When buying a pre-construction property, the financing process differs significantly from that of a resale home. For instance, while you can pay as little as 5% towards the purchase price of a resale home, a minimum of 20% down payment is typically required for pre-construction homes. Although the 20% down payment may seem substantial, it’s usually broken down into smaller payments made through a deposit structure.
Cooling-off period
Once you have made a deposit for a pre-construction home, there is typically a “cooling off” period, during which you can reconsider your decision. This allows you to take the time to ensure that your finances are in order and that you are prepared to proceed with the purchase.
The availability and duration of the cooling-off period may vary depending on the province in which you are purchasing the property. For instance, Ontario offers a cooling-off period of 10 days, while in British Columbia, it’s usually seven days.
If you need help with your pre-approval or finances, our team can assist with this task too!
Personalize your home
Once the practicalities are covered, you can personalize your new home at our Decor Centre. Our in-house designers will help you find the best exterior and interior design elements that match your needs and wishes.
The final inspection
When your home is ready, a City Park Homes’ Service Team member will do a pre-delivery inspection. If everything is alright, you’ll be ready to move in. Forget about the hassles of buying a home. With us, it will be a safe, easy and stress-free experience!
Contact us
Get your dream home for a lower price, customize it to your wishes and benefit from higher appreciation once the project is complete – it’s clear that pre-construction homes are the way to go! To learn more about our services, visit our website https://cityparkgroup.ca/.