Buying a New Home
Do you want to buy a new property, but don’t know where to start? Here are some answers to your questions.
When you start the process of buying a home, several questions come to mind: buy new or used? Renovations or turnkey? It’s not always easy to make decisions, and it’s important to analyze the pros and cons to determine what best suits your needs!
A new condo or home
When buying a new property, you will be able to choose exactly what you want in terms of layout, number and style of rooms, paint colour, etc. In other words, you choose everything from A to Z according to your budget.
No renovations required
In the short term, since your home will be new and you will have chosen the different materials and finishes, you will not have to plan any renovations. However, over the years and depending on natural wear and tear, you will need to do minor renovations and maintenance work, and be prepared for unexpected events (water damage, etc.).
Savings
Buying a new home or a used home costs money, but there are savings to be had by choosing a new home:
- No short-term renovations: apart from routine maintenance, a new home does not require major renovations;
- Energy savings: new homes are built according to current standards, with new and more efficient materials, which could reduce your electricity bill;
- Reimbursement of part of the taxes: when buying a new home or a home that has undergone major renovations, a partial refund may apply to the payment of the Goods and Services Tax (GST) and the Quebec Sales Tax (QST). Source: https://www.quebec.ca/habitation-et-logement/achat-maison/ (in French) and https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4028/gst-hst-new-housing-rebate.html
Guarantee Plan from the Régie du bâtiment du Québec
In 1999, the Quebec government made the Guarantee Plan for New Residential Buildings mandatory. It ensures that your contractor properly fulfills the legal and contractual obligations set out in the Regulation respecting the guarantee plan for new residential buildings.
For more information: https://www.garantie.gouv.qc.ca/en.html
Work with a real estate broker who will guide you and accompany you throughout the process!
No matter what type of home you want to buy, working with a real estate broker will give you peace of mind and security!
