6 questions you should ask when visiting a new home sales centre
By Lucas on Aug 11, 2016
There are many new home openings and releases scheduled for September and October across the Greater Toronto Area (GTA) and beyond. If you’re hunting for a new home, you will likely attend an opening or two. Every builder or developer will have their own procedures when it comes to their openings, but in case you find yourself visiting many sales centres this fall, we’ve compiled a list of questions for you to ask.
1) What floor plans are available?
If you’re at a new opening, the answer will likely be, “all of them.” But it never hurts to ask, especially if you have a certain plan in mind or you’ve walked in off the street and there was no opening event occurring.
If you were eyeballing a certain condo unit or a certain lot and elevation, then this quick question will determine whether or not you need to stick around. If what you’re looking for is available, then jump on it. If not, continue your home hunt.
2) What are prices starting at and what’s included?
If a project is advertising starting prices from the $200,000s, that could meaning anything up to $299,999. You probably have a budget in mind before stepping into a sales centre, so don’t be afraid to ask about pricing right off the bat.
It’s also important to ask about any premiums or extra fees. For example, if you’re looking at a high-rise condo, there is a pretty good chance that you will be charged a premium for units on higher floors (usually around $1,000 per floor). That means your 600 square foot, one-bedroom plan on the third floor will cost more if it’s on the 30th floor. If you don’t care about views, then ask about availability on lower floors to save some money.
Other things that may cost extra, in addition to fees and other closing costs, include lockers, bike storage, and parking spaces. If you’re purchasing a new low-rise home, there may be lot premiums if you back onto a ravine or if it’s a corner lot.
3) Is this standard?
When it comes to starting prices, you also need to know what features and finishes your new home will come with. There’s a good chance the sales centre will have a model suite or suite vignettes, or actually be located in a model home. If you have the opportunity to tour a model, ask whether the finishes are upgrades.
You may find that some models look too good to be true, and that’s because they sometimes are. You could be touring a $1 million version of the $400,000 home you want to buy. Always ask a sales representative what’s standard and upgraded, and if they don’t know, then ask them to find someone who does.
Model suite at the Nautique sales centre by Adi Development Group
4) When is my move-in date?
It’s always helpful to know the timeline of a new project because it can help guide your personal timeline. Find out when the builder hopes to start construction, ask about the estimated completion date, ask when closing will be.
Remember, any dates you are told will be tentative or very vague, but having an idea of the timeline is better than nothing. There are numerous things that can affect a project’s timeline, such as unfavourable weather, industry strikes, or other construction complications.
5) What’s the plan for the surrounding area?
Unless it’s an infill project, you can’t assume that the neighbourhood you’re looking at is the neighbourhood you’re going to get a couple years later after your home is built. The builder usually knows about plans that the municipality has, like whether an area is commercially zoned for a new shopping centre or whether a transit corridor is in the works. These things affect your property value!
Also, you’ve probably noticed that some site plans have “future residential” labelled in blank spaces surrounding your home. We know you have your eye on a certain lot, but ask about those blank spaces because you should be aware of future work that will be done near your home.
6) Are there any purchasing incentives?
Ask and you shall receive (maybe). Builders and developers often offer purchasing incentives to entice prospective buyers. The incentives are usually pretty well advertised online and if you’ve registered for the project, you will probably receive emails about them, but it never hurts to ask.
It’s not completely unheard of for a builder or developer to throw in some upgrades for free if you ask; just don’t be disappointed if you get shut down.
We hope these sales centre questions help you find your dream home!
