How we help
New Construction and Pre-Construction in Markham
A builder contract written by the builder and a closing that is years away.
The problem
A pre-construction purchase is a contract, not a house. It commits you for years, it contains adjustments and clauses most buyers never read and the sales office you are signing in works for the builder, not for you.
Our approach
How we handle it
- Step 01
Read the agreement before the cooling off period runs out
Ontario gives new condominium buyers a statutory rescission period. It exists so your lawyer can read the agreement. Use it, every time and have a lawyer who reviews builder agreements regularly do the reading.
- Step 02
Price the closing, not just the purchase
Development charges, levies, utility connections, occupancy fees on a condo and tax treatment all land at closing. These are frequently tens of thousands of dollars and they are frequently a surprise. We will help you ask for them in writing and negotiate caps where possible.
- Step 03
Plan for a completion date that moves
Builder timelines shift. Your financing approval, your lease and your sale need to survive that. We build the plan around the possibility of delay rather than the promise of a date.
- Step 04
Inspect at the walkthrough as if it were a resale
The pre-delivery inspection is your leverage. Everything you do not list is harder to claim later. We go through it methodically and we know what builders routinely leave incomplete.
What we do differently
We assume the contract is the product. With a resale house you are buying a building you can stand in. With pre-construction you are buying a document. We treat it that way and we push you toward a lawyer who reads these agreements for a living.
We put the closing costs on paper up front. The gap between the purchase price and the money you actually need on closing day is where most of the unhappy surprises in new construction live.
We will tell you when resale is the better buy. Frequently it is. A three year old house with the landscaping finished, the window coverings in and no closing adjustments left to pay is often a better value than the same house bought from a plan.
Where this comes up in Markham
Condo and townhome projects in and around Downtown Markham and the Highway 7 corridor, plus continuing phases of newer development across the north and east of the city.
New Construction and Pre-Construction questions
Do I need my own agent to buy from a builder?
You are not required to have one and you are far better off with one. The sales representative in the presentation centre works for the builder. Bring your own representation on the first visit, because many builders will not register you afterwards.
Does it cost me more to bring my own agent?
In the usual arrangement the builder handles the co-operating brokerage compensation. Confirm the specifics for the project in question rather than assuming.
What is the cooling off period?
Ontario provides a statutory rescission period for new condominium purchases, during which you can cancel. Freehold new homes are treated differently. Confirm the current rules and timelines with your lawyer, because they matter and they are specific.
What is Tarion and what does it cover?
New homes in Ontario come with statutory warranty coverage administered through the provincial warranty framework. Coverage and timelines are specific and limited. Read what applies to your purchase rather than assuming everything is covered.
Is pre-construction a good investment?
Sometimes and it carries risks resale does not: delays, cancellations, financing changes over a multi year period and an unknown market at completion. We are happy to walk through the risks with you. We will not tell you it is a guaranteed return, because it is not.
Not advice. This page is general information about how we work. It is not legal, tax, mortgage or investment advice. Speak to a qualified professional about your own circumstances before acting.
Also relevant
Other situations we handle
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Luxury
Thin comparables, a small buyer pool and no room for a pricing mistake.
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Relocation
Choosing a neighbourhood you have never lived in, usually on a deadline.
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Downsizing
Forty years of a house and a sequence that has to work in the right order.
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Upsizing
Two transactions, one timeline and a gap that has to be financed.
Book a 30-minute conversation
No pitch and no pressure. Tell us the situation and we will tell you plainly whether we are the right people for it.