Buying a Newly Built Home in Montreal: What You Should Know
Buying a newly built home in Montreal is an exciting process- it includes presenting a new home, new design, new energy efficiency and most importantly, personalising your space to suit your lifestyle.
Whether you are considering a downtown, high-rise condo or a suburban single-family detached house, there are exciting aspects of buying a new construction. Each new property has unique features and considerations.
The Perks of Going New
One of the most appealing features of a brand-new home is the fresh start. Everything is new, including appliances, plumbing, electrical systems, flooring and more. And you won’t have to worry about immediate repairs or renovations. In many cases, the developer will allow you to choose from limited selections of finishes (eg, countertops or flooring styles) to match your taste.
In addition, new homes are frequently built with higher standards for energy efficiency. It means you will benefit from better insulation and newer heating systems, leading to lower utility bills over the long term. It is important in the cold Montreal winters.
Builder Reputation Matters
While you can find many reputable developers in the city of Montreal, it is always best to check them out. Do some research on the builder’s history before signing the document. View past projects, check reviews and ask lots of questions, especially about warranties and after-sales services. A reputable developer will be open and honest, and you should expect them to be clear communicators during the process.
Understanding the Purchase Process
Purchasing a newly-built home usually involves a few more steps than buying a resale. For example, you may be buying the new home based on a floor plan or model unit, so visualisation is important. You might also pay the deposit in increments instead of all at once.
In Quebec, the notary will be very important to complete the transaction, especially by reviewing the contract and registering it properly. Moreover, most new home purchases are covered by the GCR (Garantie de construction résidentielle), which protects buyers of new residential properties in the province.
Be Prepared for Delays
Construction schedules can be delayed by issues like weather, supply problems, inability to acquire a permit, etc. Although most builders are doing everything they can to stick to their planned schedule. It is definitely wise to allow flexibility in your plans to move into your new home.
Purchasing a newly built home in Montreal can be an exciting event that offers the best of comfort with the opportunity to live in a space built for your lifestyle. When planning and working with the right mortgage broker in Montreal, the process of securing a new home can get started on a solid foundation. It happens both literally and figuratively.