Rate Relief from 3.99%!
Does this home-construction photo make you smile?
Perfect, we got your attention just in time. Here are some helpful tips for your new build and the mortgage that goes with it.
Building a new home is very exciting, but with so many details coming at you, the process can get a bit overwhelming.
Building a home takes time, and there can be delays. We recommend securing a long-term rate hold with one of the big banks as a form of insurance, in case your build takes much longer than you anticipated.
And, once you're within 90-120 days of your possession date, make sure to hold your best possible rate with us! You won't need to worry if rates increase while you're busy with the construction or home-finishing details. We'll help you save cash — that you can put towards other new-home things you may need.
Already dealing with a True North Mortgage broker? Great, they'll be on top of this process for you.
It's natural to start planning your life around your move-in, but a note of caution: Possession dates often get pushed back, and it can happen multiple times. The good news? Once you do finally move in, you'll truly appreciate your new digs and breath deeper surrounded by that new-home smell.
The same caution goes for your budget projections. Your final home purchase price can end up higher than initially projected due to material increases or upgrades. Make sure to read the fine print of your original contract for the scope of builder-changes allowed.
One more note: Confirm with the builder if your purchase price already includes the GST and provincial taxes.
Ask your realtor or lawyer about the GST/HST rebate. It's available to everyone, not just first-time home buyers (limits apply, or may vary by province). When you're building a new home, the costs can add up — so it's a good idea to save money where you can!
Even with all the details and the anticipation of your actual move-in, it's your chance to build a home the way you want it. You'll learn a lot, and will appreciate your new home all the more. And, don't forget to leverage your mortgage broker, realtor and home builder for their expertise.
We care, and it shows. Wherever you are in Canada, give us a shout for 5-star service.
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