Life in Macleod's Landing
Living in a new subdivision, like I do in the Macleod's Landing, comes with many trials and tribulations along with the great homes. Today was no different as I found a screw in my rear tire. No harm done as Rob at the Oak Ridges Auto Pro repaired it before any damage was done. (By the way if you need a good mechanic in the Oak Ridges area Rob is the guy to see (King rd. just west of Yonge St. beside the Home Hardware) So, it got me thinking about the pros and cons of newly constructed home.
With a new home, and a good builder like here in the Macleod's Landing, you can get a great home with personalized adjustments for a cost. the most obvious cost is the bill that the builder gives you when you purchase, change the plans or get upgrades. However there are a lot of other factors that cost over the next few years.
First there are the initial settling in costs. These are things like window coverings and treatments so that you can use the bathroom without providing neighbours with a show, whether they want it or not. There is also the emotional costs associated with constantly cleaning, only to have the dust back in a matter of hours, and having trades people coming and going to make minor repairs and adjustments.
If it is your first new home then you might lose some sleep, or be woken up, because of the loud banging sounds that occasionally indicate a "nail pop" as the house settles and dries out.
One of the most stressful costs of buying a newly constructed home is the time frame. Many builders are selling homes that close in 18 to 24 months, and there is nobody that can guarantee what is going to happen in the real estate markets for that long if you have another home to sell. You also get to worry about what you will do if the builder delays the closing which many of them do. Builders have the right to push off a closing date by up to 120 days if they give enough notice and they can delay by up to 5 days with no notice at all. Even in the hot markets of the Toronto and York Region areas most homes take longer to sell than the the builders largest minimum delay notice period. As the resale homes market normalizes this is going to be more of an issue if builders do not stay on schedule.
So how do you avoid these problems? Well, unfortunately the only way is to by resale and do everything you can to negotiate a closing date on both homes that works with your moving plans. If you can close on the new home a day or two before you close on your old home, and bridge finance that time, then you can you can move in and out with a little less stress, depending on how much it will cost you. If you still want the new home without the stress related to uncertain closing dates there are quite a few home for sale in the Macleod's landing and many other of the Richmond Hill developments. You don't get to personalize the floor plan as easily and you still may get the dust, but you can get the great quality, modern finishes and the new home owners warranty.
If you are thinking of buying or selling in the Macleod's Landing or Richmond Hill area I would love to help you get the best results.
