Yes. Almost all builders in Ontario are required to be licensed by the Home Construction Regulatory Authority (HCRA) and are required to offer a warranty that is administrated by TARION.  Click to Learn More 

Our GTABuyersAgent.com Realtors will explain all of the closing costs to you if you become a VIP member. But in general, there are different closing costs to be aware of when purchasing from a builder vs buying a resale home. Costs like Development Charges & Education or Park Levies, Warranty Enrollment, Hydro/Water/Utility Hook Ups and others are unique to the pre-construction world whereas closing costs like Land Transfer Tax and Lawyers Fees apply to both new and used properties. Click to Learn More

The deposits will vary depending on the builder and the closing date of the property that you are purchasing. Typically the deposit will be broken down into staggered payments over a set time period that could have you paying all of your builder deposit within less than 120 days to extending it over 365 days. Please keep in mind, there is a difference between the builder deposit and the down payment for mortgage purposes. The builder deposit can be used as part or all of your down payment but depending on the purchase price of the property and your bank's requirements for your mortgage - you may be required to put down more money down at closing than the builder asked for as a deposit OR you may only be required to use a portion of your builder deposits towards your down payment and the rest you can use towards your closing costs. Our GTABuyersAgent.com Realtors can help you navigate this. 

Often times, builders will release a project to select Real Estate Agents even before releasing the project to their own registration lists. This results in those agents being able to offer their clients a great selection of homes/suites within the community often before the general public. GTABuyersAgent.com is a VIP Broker amongst the many top developers & builders in the GTA and therefore our VIP members often have the chance to submit worksheets and buy before the official public launches of many new home developments. 

When you are buying a new home or condo from a builder the purchase price is subject to HST unlike resale homes where no HST is payable. But don't worry, you likely won't have to add 13% on top of the price you see on the price list.  Most builders have included applicable HST in the prices they display on their price lists. Note: That doesn't mean you won't have to pay additional HST at closing. Some buyers will have to. For example, those buying as investors and not for principle residence purposes will  have to pay the rebate portion of HST that they will not qualify for as an investor if the builder has applied this rebate to the purchase price. This can be up to $24,000+. Our GTABuyersAgent.com Realtors will assist you in determining if you will have to budget closing cost funds for additional HST in your purchase.  Curious to know how much HST is included in the purchase price of new builds - check out our Net of HST Calculator for New Homes/Condos sold by a Builder.

uying a new home or condo from the sales office during the pre-construction phase is a little different than buying a resale home. The most obvious difference being you have to pick your house and location from floorplans and renderings instead of walking through the homes. The closing dates will also be much longer in pre-construction than in resale. And of course, you will likely be able to customize your interior in a new home by picking all of the finishes that you aren't able to do when you buy a resale without renovations. Our VIP clients all receive a Step by Step Guide to Purchasing from the Builder. Learn More about GTABuyersAgent.com VIP Access.