Buyer’s guide

The advantages to new construction, the buying process and financing

The advantages of new construction

First, there is always the question of cost. Buying a new property is especially beneficial because of the ability to obtain tax refunds, which improve the quality‑price ratio. Because the building is new, you can also expect fewer maintenance costs than with a resale property. And, of course, the market value of a new property will be higher.

It is also important to point out that new construction must comply with the most recent building standards. New builds therefore meet the latest construction, safety and environmental requirements. They are better insulated and offer better airtightness to reduce electricity and heating costs.

Lastly, another element not to be overlooked is the peace of mind that comes with the Guarantee Plan for New Residential Buildings (GCR), which covers new construction. To learn more, visit the Commitment and Warranties page.

The buying process

  1. Identify your needs: The first step when purchasing a property is to identify your needs, such as the type of accommodation you want, its style, its location and your budget. There are several types of housing including single-family homes, semi-detached homes, multi-unit dwellings, etc. What style of home are you looking for? Something more traditional? A country home? Something modern? As for the location, do you want to be downtown or in the suburbs? All of these choices will obviously affect the cost of your home. That is why it is important to know your budget. We would be happy to help you identify your needs.

  2. Budget: It is important to be very clear on your budget so that your project is possible and realistic.

  3. Meet with the general contractor: We would be pleased to meet with you to show you various models and locations that might meet your needs.

  4. Signing a preliminary contract: Signing this contract reserves the property selected and sets out the terms and conditions of the purchase pending the transfer before a notary

  5. Choice of interior finishes: Customize your home by choosing from a selection of colours, textures and materials to get a final product that reflects your preferences.

  6. Mortgage approval: Obtaining this approval document from your financial institution confirms that the necessary mortgage has been approved. Note that you can be pre-approved for a mortgage amount even before the first meeting with the contractor, which speeds up the buying process.

  7. Final inspection and deed of sale: We will carry out a full inspection of the property with you once all construction is complete to ensure that the property fully complies with the original contract. Finally, the deed of sale is signed before a notary. You are now new homeowners!

  8. After-sales services: Do you need some information or have a question after you have moved in? Our representatives will be pleased to help you and ensure your satisfaction.


Down payment

You have several options regarding the down payment. For example, with a down payment of 5% of the purchase price, a guaranteed loan can be obtained from Canada Mortgage and Housing Corporation (CMHC), subject to certain costs. If the buyer is able to make a down payment of 20% of the purchase price, there is no obligation to obtain a CMHC guaranteed loan.


Looking for mortgage financing? We can put you in touch with specialized advisers who can help you identify your needs and provide information on the options available.

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