There's no getting around it: investing in a new home is a big decision.
It involves a ton of planning and getting your finances in order. And, that's before you even start looking at what the Toronto real estate market has to offer.
But, now that you’re ready to explore the various properties on the market, what do you realistically expect from them?
Spacious areas, good and natural lighting, adequate storage spaces at a reasonable cost?
You’ll probably also want your home or apartment to be close to schools and your workplace maybe, in a great locality as well as one that offers easy access to whatever you would need in your day-to-day life.
If you’re looking for a 3-bedroom apartment, you should know that the average size of a 3-bedroom apartment unit has decreased by 20% between 1996 and 2014.
This means that the areas of homes are getting smaller and may not be able to accommodate the needs of you and your growing family.
At this point, it really is a matter of compromising. But why would you want to do that when there’s probably a cheaper alternative?
Have you considered custom home building yet? This could be a great option for you if you still haven't found your dream home.
Since you spend most of your time in your home, wouldn’t you want something that you’re really happy with, instead of compromising on already-built homes?
Custom home building has many benefits - the most obvious being the flexibility that comes with designing a new home exactly the way you'd like it to be.
Here are some more amazing advantages custom home building has to offer:
How many already-built homes have you seen at this point? Were they ideally located?
If you didn’t really like the location of these homes but loved the home itself, you’d probably think of compromising on the location.
However, with a custom built home, you may not need to compromise on location.
Depending on your requirements, there are plenty of lots you can pick from in Greater Toronto and surrounding areas to build your custom home.
Since it’s a one-time investment for most families, you also shouldn't really look at compromising on your family's needs.
An empty lot is a blank slate. You can literally do whatever you want with it.
You want a home in the shape of a star or a hexagon: by all means, go for it.
But seriously, what we’re simply trying to say is that custom homes give you the flexibility to build exactly what you have in mind.
Whether you want a banquette in the kitchen, a dream balcony off your master bedroom, a movie theatre in the basement, a home gym or a home-office, or a separate bathing area for your pets, you can incorporate this and a lot more quite easily when custom home building.
What’s more is that you’re free to select the exact flooring, countertops, railings, appliances, lighting fixtures, decor, colors, and any other advanced gadgets that you’d want your dream home to have.
When was the last time you made use of every inch of space available in your home?
In your current home, you may have realized that there are a few nooks and corners that could have been put to better use.
But since the home was already built, there’s probably very little you can do now to use it properly.
But custom home building gives you the opportunity to design and make use of each and every inch of space. So, essentially, there’s no waste.
You can make a list of things that you'll need to store like shoes, clothes, cleaning supplies, utensils, cutlery, etc and see where you can fit all of these in a smart way.
So, you end up paying for exactly what you need – nothing more, nothing less!
With global warming and the high cost of utilities each month, it makes sense to turn to energy saving options. Renovating your current home to incorporate these can come at a high price.
Hence, many families are not able to easily switch to energy efficient alternatives and continue paying those high bills.
So when you choose to build a custom home, you have the option to install things like solar panels, LED lighting fixtures, central home heating systems, insulated panels as well as solar water heating systems.
These will not only help you save, they're also environmentally friendly. Wouldn't it feel nice to do your part simply by living at home?
When you buy a home that has already been built from a home builder, you also end up paying for all the fees that the builder has incurred during the completion of the entire project.
So the cost of your home will also include the following amounts:
All these fees are passed down to the buyer, which can easily be avoided if you choose custom home building.
For instance, if you were to buy a lot for $1,000,000 and custom build a home instead of buying the finished product at $2,000,000, you would end up saving $40,000. (The Land Transfer Rate for the extra $1,000,000 is 4%.)
What’s more is that; overall, the cost of building your home from scratch will cost at least 10% less than buying the finished product.
So, a new home that sells for $2,000,000 in the market will cost you only $1,800,000 if you were to hire a custom home builder to complete it.
With a combined experience of 18 years, we're here to help you build a luxury custom home of your choice.
We’ve set the standard for custom home building in Toronto. We're not only aware of market trends - we know how to anticipate the things you'd like in your custom home.
Want to hear more about your custom home building options? Contact us today. We'd love to hear about your dream home.