- Maple Ridge
- Single Family Home
- Est. Comp. 2024
Benefits of Buying a New Construction Home
Are you looking for a brand new home to make your own? If so, a new housing development might be perfect for you. New construction homes have just been built or are in the process of being built and offer several benefits for those in the market.
With new construction homes, buyers typically purchase a property before it's been finished. Most developers offer showhomes for prospective buyers to tour, giving them a sense of what their finished home will look like. Once the home has been purchased, buyers can then typically choose their interior features.
New construction homes or pre-construction homes are a great option, no matter which stage of life you're in. Home buyers may want to take advantage of a new home's initial price to secure a spot in a neighbourhood they like. And since many new houses for sale are deliberately placed within range of schools, playgrounds, and commercial spaces, they offer great convenience.
One of the biggest benefits of buying a pre-construction home is that they're an easier way to enter the market. Because you only need to pay a relatively small deposit (~5%) upfront, with further payments staggered, you can better prepare financially for your new home. Plus, you often have time to prepare for your mortgage, as some homes don't close until 1-2 years after the deposit is paid. Purchases of a new development home are also protected by warranties should anything go wrong within the first few years.
New build homes are also excellent investment properties since they have zero wear and tear and tend to be nicely modelled from the outset, making them easy to rent out. And since new developments are almost always a sign of a growing and prospering neighbourhood, they will likely appreciate over time should you wish to resell.
With so many new houses, condos, and townhouses being built across Canada, we're sure you'll find a property worth considering for your next purchase. With our search function so you can easily sort new homes for sale by property type and completion date.
Types of New Developments to Consider
New homes for sale in Canada come in all shapes and sizes, so it helps to understand what you're looking for before beginning your search. Here are the most common types of new home construction available across the country to help you get started:
- Condos - New condo projects and apartment buildings are commonly seen across the country, with most new condos offering handy amenities like gyms, pools, and communal workspaces for residents. Presale condos and apartments can be a great way to secure a home in a fast-growing neighbourhood, whether you plan to enjoy the home for years or sell it at a potential profit later on. Condos and apartments tend to be an especially great option for couples and professionals.
- Townhouses - New townhouses offer a good balance between the price of a condo and the space (and privacy) of a whole house. They are generally built in suburban areas outside city centres. Look at any growing community, and you'll likely see plenty of townhouses being constructed. New townhouse builds are an excellent option for new families seeking a foothold in a community.
- Detached Houses - Last but certainly not least is the multitude of new detached homes available in major Canadian markets. They are typically located in suburban areas as part of larger neighbourhood projects, and new houses present an especially great opportunity for families with multiple kids. They're also often an excellent investment for rental or future selling.
If you're ready to find a brand new home and make it your own, REW's Pre Sale Search Map can help you find your ideal location. Each listing can also connect you to the listing agent or the developers directly. REW is here to help you find your dream home, wherever it may be.