Planning to buy or build a new home

Before embarking on the trip of investing in a new home, being informed and adequately set is essential. A pivotal aspect of the planning process involves relating your wants and requirements, as well as relating the individualities who can give precious guidance and support throughout the decision- making process. By taking the time to gather information and establish your precedences, you set yourself up for a more successful and fulfilling home buying experience.

Identify Your Preferences and Needs:

Before embarking on your search for a new home, it's essential to create a list outlining your wants and needs. Consider the following factors to guide your decision-making process:

1. Cost Considerations:

Evaluate your finances by reviewing expenses such as mortgage payments, property taxes, maintenance costs, and potential condo fees. This analysis will help you determine how much you can comfortably afford.

2. Home Type:

Think about the type of home that aligns with your lifestyle, including options such as condos, duplexes, townhomes, or single-family houses. Consider the number of people who will be living in the home, the availability of common areas or a yard, and the level of maintenance required.

3. Building Options:

Decide whether you have the resources and time to build a home or if you prefer purchasing a move-in ready property. Each option comes with its own considerations and advantages.

Seek Expert Guidance:

To ensure you make well-informed decisions throughout the process, consider reaching out to the following professionals:

1. Real Estate Agents:

Experienced real estate agents offer a range of services at different costs. They can assist you in various aspects of the buying and building process.

2. Home Construction Experts:

Engaging a licensed home inspector or construction expert allows for an assessment of a property's condition through a visual examination.

3. Local Municipality:

Your local municipality issues permits for new home construction, ensuring compliance with safety codes. They also play a role in determining community development standards.

4. Financial Advisors:

Consulting financial advisors can help you plan your investments, savings, mortgages, and insurance products to align with your homeownership goals.

5. Mortgage Brokers:

Licensed mortgage brokers can assist in arranging financing for purchasing a home. They must operate within the regulations of your specific region.

Research Home Builders:

If you opt to work with a builder, consider the following steps

1. Find a Licensed Builder:

In Alberta, every new home builder must hold a license. Utilize the builder registry to access information regarding their licensing status, warranty provider, and their history of homes built since 2014.

2. Confirm Building Locations:

Ensure that the builder operates in the area where you wish to live, as some builders may have specific agreements or limitations on certain regions.

3.Check Builder Experience:

Review the builder's past projects to gauge their expertise and compatibility with your requirements. Additionally, verify if they are affiliated with any industry organizations.

4.Assess Client Service History:

Take into consideration the builder's reputation for client service during and after construction. Seek feedback from homeowners who have previously worked with the builder or explore online consumer reviews.