Buying Pre-Construction Homes, Beware!

Buying Pre-Construction?

New home construction in Toronto and in particular in the York region is on the rise, and with the market being so hot with multiple offers everywhere, some buyers are looking at buying new from Builders.  But should you?

Many times I’ve come across home buyers who signed in at a model home showroom or asked for more information online, and unknowingly signed away their rights to have an agent represent them in the transaction.  A Condo builder in Richmond Hill is notorious for that.

Some builders are also sending emails out to people who signed up at their website not to work with agents. Despite what the builder may tell you, you need a real estate agent for new construction too.

Buying new construction may seem straightforward. You go in, you select, you sign and are done until closing!  Nah, not really. It’s still a real estate transaction. Many builders hire real estate agents to work at their sales offices hoping to give you the warm and fuzzy feeling. In many cases, these agents are pretty new to the business. Also, they represent the Builder, not you!

It’s always better to have an expert on your side who understands the language of contracts, how financing works, and protects you and your rights when it comes to closing costs and adjustments and upgrades.  Your Agent will ask the right questions to avoid problems in future.

If you’re thinking about buying a brand new home from a builder, come talk to me or do yourself a favour and find a great agent to work with. We have the experience and knowledge to help you find the best home for your needs, and ensure that you love it from day one!