New Homes & Pre Construction in Stratford, ON

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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.

FAQs about New Homes, Stratford

What are New Developments?
New developments are collections of homes that are planned, being built, or, well, newly built. They’re known by other names too including pre-sale, new construction, and new build, amongst others. The key differentiator is that these homes are often purchased before or during the construction phase. This makes it a slightly different, but very beneficial, buying process. A development could be a new apartment building with 200 condos, or a brand-new community made up of townhomes, duplexes, and single-family homes. Whatever they include, one thing is for sure - they’re shiny new. Read the ultimate pre-sale and new development guide here.
Which buyers are New Developments for?
Real estate developers build new construction homes for all types of buyers and often start any project by defining who these buyers could be. On REW you’ll find various options including condos, apartments, townhouses, and single-family homes to suit your size and style requirements. Builders will consider a range of price points that will often be met by the construction materials, quality of finish, and amenities in a development. One of the key things to consider as a new construction buyer is the timeframe - ultimately, you will need a home that is ready now, in one year, or in three years' time. Look for the development’s completion date and information on the first occupancy date to help guide you here. Check out our video that explains whether new homes are a good option for first-time buyers here.
Why should I buy a New Development home?
New developments are built according to new construction codes, are far more eco-friendly and come with a new-home-warranty safety net. Many new developments are built in exciting new communities too, so you’ll benefit from a considerable list of thoughtful amenities and services to live your best life. On the money side, you have more time to obtain financing as you only need to have your deposit available (which can be paid in stages) until the home is ready to live in. At this time, you’ll pay your mortgage. You’re Also, time is on your side. If you buy a home this year, the price reflects that - and you obviously pay your deposit then. When the home is ready in, say, 2 years' time, the market has shifted, and will (almost without exception) have increased in value, giving you the ability to move in, rent it out, or leverage and sell before your mortgage activates. There are so many other great benefits to purchasing a home in a new development that you can read about here.
Where can I find a map of New Developments for sale?
Our REW real estate map has a specific search for new construction, pre-sales, and new developments. You can search your favourite areas, save and bookmark developments to view later, and filter new developments by your requirements. View our New Construction map here.
What is the process of buying a New Development home?
The pre-sale, new construction, or new development buying process involves a few unique steps compared to other real estate purchases. Check out our full guide here. Two things that will define the process include the development’s selling status and its construction status. If the pre-sale development is in ‘registration’ or ‘coming soon,’ the developer is collecting interested buyers who may want to purchase when they decide to sell. At this stage, simply pop your name down to receive development updates. When they are actively selling, you may be able to visit a sales centre where there may be a show home or building models. If there are units available that have been built already, you can tour the brand-new homes before you purchase. When you decide to buy the home, you usually only need to pay part of the deposit upfront, with the rest coming in stages - then you wait for the building to complete its construction.
Do I need a mortgage for a New Development home?
If you’re a cash buyer, then you might not need to read this. But for most of us - yes, you’ll need a mortgage to buy a new development home. The purchase and mortgage process for new developments is slightly different and can vary depending on the developer that you’re buying from. Often, your deposit will be required in stages, which allows you to spread out the payments. Also, you won’t be making any mortgage payments until the keys are in your hands. Our team at REW Money would love to talk to you about all of the complexities of new construction mortgages, contact an advisor here.
What happens after I buy a unit in a New Development?
The great thing about new developments is that there are a number of ways to protect you after you’ve purchased a unit. Firstly, there is a rescission period which is the time between your offer being accepted and the contract to purchase becoming legally binding. It varies by province, in BC it is 7 days and in Ontario, it is 10. Depending on when the home is ready to live in, you’ll receive various updates and specialized after-care services offered by the developer. You may be able to choose some of your custom finishes, or you may be offered the chance to tour the construction site. When the home is ready, you’ll be given the opportunity to check its quality in your deficiency walkthrough. This is where you can view the home with your agent, advisor, and a customer care representative of the developer. After you’ve moved into the house, you’ll also be covered by a new home warranty that covers issues related to the build of your home for the first year of its occupancy. We go through all the potential steps involved after you buy a pre-sale or new construction home in our video here.