The Wisdom of Buying New

By Gary Bensky

Real estate choices across the GTA are amazingly diverse. You can select from high-rise and mid-rise condominiums, townhomes, semi-detached and single detached homes. There are lofts, penthouses, bungalows, two-storey estate homes, studios, walk-up and stacked townhomes – the variety of designs is remarkable. Of course, you also have to decide whether to purchase a new or resale home. Before you do, take a look at the advantages of buying new.

For one thing, your new home or condo comes with protection from Tarion Warranty Corporation – something that offers tremendous security and peace of mind. Tarion provides deposit protection, plus covers defects in work, materials and more. If you have any problems with your new home, it will be many years before you have to pay for major repairs yourself.

Remember, too, that new homes are constructed with the most advanced materials and building techniques. The continually evolving Ontario Building Code requires new homes to be more energy efficient all the time. Buyers benefit from lower energy costs.

They also benefit from today’s modern layouts that are designed to make the most of every square foot. Open-concept plans and large windows make for natural light-filled spaces. Of course, when you purchase new, you also get to select your features and finishes. This is a great opportunity to personalize your living areas so that it feels like “home” to you.

The appointments available today are spectacular. In fact, the level of standards offered by most builders is higher than ever before. New home purchasers also benefit from the advice of design consultants who can help them zero in on the perfect appointments. 

Just think – when you walk into your new home, you will be the first owner. Everything will be clean and fresh. What a difference from having to renovate a resale home. When you buy new, you avoid the expense and mess that comes along with bringing an older home up to your standards, whether it’s as simple as painting the walls a different colour or as complicated as replacing flooring, moving walls or redoing bathrooms. Depending on the market at the time, when you buy new as opposed to resale, you also eliminate the stress of a bidding war over the home you want.

Financially speaking, purchasing a new home is an investment in your future, as home prices continue to escalate. When you purchase early in the selling process, the potential for making money before you even move in is a possibility in a growing area. An example is Wycliffe’s Fairground Lofts in Old Woodbridge Village, our collection of urban town lofts surrounded by a European-inspired landscaped courtyard.

Woodbridge is a prestigious established area of the City of Vaughan. Home sales have soared in Woodbridge, which is quite attractive for anyone buying a place to live or as an investment.

The decision of whether to buy new or resale is ultimately yours, but take a serious look at the advantages of a new home before you take that all-important step. In the long run, you may be glad you opted for a beautiful new home.

For more information, call 905-605-5900 or visit www.wycliffehomes.com

Gary Bensky is President of Wycliffe Homes, which has been creating superb homes for families in Southern Ontario for more than 60 years.