New Homes (Presale) VS Resale Homes in Canada

Once you have made the decision to move into a new home in Ontario, or a new home in BC, one of the first questions to consider is whether you would like your new home to be brand-new or previously owned. There are so many benefits to each, it is important to pick the type of home that will suit your wants and needs best. Pay careful attention to the things that are important to you in your new home while viewing your options and be sure that your decision is based on these things to ensure a better fit and a smooth transition. Essentially your home will be new to you regardless of the type you choose.

When you buy a brand new home in BC or Ontario, you will be the first occupant. Although the initial cost of your new home may be higher than that of a resale home, major renovations and home improvements will not be something you need to factor into the cost. If you are involved in your new home in the earlier stages, you may even be able to pick certain options within your new home such as wall colours, flooring options and light fixtures. Many of the major systems and appliances in your new home in Canada will be covered under the builder’s warranty and your new home will be up to the most current safety regulations and building codes. New homes are also generally more energy efficient which helps in keeping heating bills down in the winter and in general the new materials being used today will require less maintenance than may be necessary for some resale homes built with older standards and materials. Many new homes in the Lower Mainland or Greater Toronto Area today are geared for this day and age, meaning they are already set up for modern conveniences such as high-speed internet and multiple phone or cable lines and once your home is completed, it will be ready for you to move in.

Another advantage to living in a brand new home is that chances are, your neighbours are just moving in too. This normally offers a feeling of camaraderie as you are all taking on a similar obstacle in life and you have all chosen to live in the same neighbourhood. Many new housing developments in British Columbia and Ontario are geared towards specific groups of people meaning that you have a greater chance of having more in common with your new neighbours than if you moved into an older neighbourhood. As your neighbourhood grows, amenities will likely be involved making your area more convenient for its new residents. Be sure that you know how many phases are planned for your new neighbourhood to give you a better idea of how long to expect the construction to continue for – it is generally better to move into a new neighbourhood in the later stages of development to avoid some of the noise and possible inconvenience of construction.

Living in a resale home in British Columbia or Ontario has many benefits as well beginning with the initial cost of your home being lower. Along with the price generally being lower per square foot than a newly built home, when you purchase a resale home in Canada, you are exempt from paying the 7% GST on the home which helps a great deal with the price of the house. Resale homes also have negotiable prices whereas the price of a new home is generally fixed. Resale homes also offer more chances for improvements allowing you to add your own personality and personal touches to your new home. By having a safety inspector check the house before you sign, you will have a good idea of any renovations that need to take place beforehand and you will be able to include this in your budget. Resale homes in the Greater Toronto Area or in the Lower Mainland also may offer more traditional floor plans including formal dining and sitting rooms that may not be found in new homes. The charm and architecture of resale homes in BC and Ontario also present character and style that may not be found in new home developments where there are limited designs for homes. Resale homes also generally have more land and established landscaping with mature trees and lush gardens.

Established neighbourhoods throughout Canada are settled with reputable schools and there won’t be the constant noise of construction as your new neighbourhood develops. Resale homes in established neighbourhoods around BC and Ontario are generally more conveniently located as the amenities and transportation systems are in place. These pre-existing neighbourhoods already have their own personality that is known locally and may be discovered by asking around town or in the neighbourhood itself. You also have a greater opportunity to observe what to expect from your neighbourhood before moving in by observing closely. Traffic patterns, noise levels or potential areas of concern are already established and can be found out by observing and asking neighbours or local police. By moving into a resale home in an established neighbourhood in Canada, you have a better chance of knowing what to expect ahead of time.

There are so many benefits to either choice, it really comes down to your specific needs and wants at the time and in the near future. There will always be upsides and downsides and no matter how carefully you plan, there will always be unseen obstacles. By finding a neighbourhood and home in Canada that you feel comfortable in, you will be better able to handle these obstacles as they come along and you will become more invested in your home and new neighbourhood, allowing you to have a rich and full experience in your new home in BC or Ontario.

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