The home hub is dedicated to answering your questions about new construction homes, pre-construction homes, new condominiums, deposit structures, new home upgrades and everything in-between.
Have you ever wondered what is the average spend on new home builder upgrades? On average, you can expect to spend 20-25% of the base cost of your new home on builder upgrades. This cost will include both structural upgrades and finishing upgrades. When we… Read More »How Much Did You Spend on Builder Upgrades?
Yes, the landlord can make it a mandatory requirement to get renters or tenant insurance for your leased premise, prior to moving in. A tenant or renters insurance policy will include liability coverage, break-ins, theft, fires, and hailstorms. As the tenant, you can negotiate these… Read More »Can Landlord Force You to Get Renters Tenant Insurance?
Yes, a home builder can cancel a contract if site plans and permits to do not get approved, or if the builder believes there is no reasonable timeline for the home to get built. We purchased our home from a home builder in August 2019… Read More »Can a Home Builder Cancel a Contract?
A realtor gets paid for apartment rentals based on either a percentage of the annual rent or one month’s rent. A realtor or real estate professional can draft a contract as per the agreement discussed with the property owner. The commission method used by the… Read More »How Do Realtors Get Paid for Apartment Rentals
So, can you buy a house with Uber income? Yes, you can buy a house with Uber income and you can get a mortgage with 100% of your income from Uber. As a Uber driver, you are considered a self-employed person and lenders will require… Read More »Using Uber Income to Buy a House – Uber Income Mortgage
In Canada, mortgage applications can get denied for a few common reasons. Whether you’re applying for an insured mortgage or traditional mortgage, you can change a few things to improve the likelihood of getting approved. If you fall into certain situations, your mortgage application may… Read More »Reasons Why Mortgage Applications Get Denied
No, you cannot back out of a new construction home contract, because it is a legally binding contract between the builder and the buyer. However, there are some options for the buyer to take on a loss and move on without the new build. It’s… Read More »Can You Back Out of a New Construction Home Contract?
No, a home builder cannot require you to use a preferred lender. The home builder can offer it’s customers with closing cost incentives and lower interest rates when a preferred lender is used. However, you are not required to use the preferred lender. There are… Read More »Can a Home Builder Require a Certain Lender
You start paying for a new construction home after the closing of the deal and starting your mortgage. A pre-construction home mortgage only starts after the closing, when you get delivery of the home. When you purchase a new construction home, you will be required… Read More »When Do You Start Paying for a New Construction Home
When you’re buying a new construction home, there are some home upgrades to avoid and skip. The cost of the new construction home is a base price for the structure of the home, and basic finishes. Most home buyers want to add some customizations to… Read More »13 New Construction Home Upgrades to Avoid and Skip
A new construction home with a walkout basement is a great investment, and can dramatically add value to your home. The walkout basement can create rental income which can be used to offset the cost of your mortgage. With interest rates at peak levels, many… Read More »Getting New Construction Homes with Walkout Basement