President's Home News Column

TREB President's Column as it appears in the Home News


New or Resale

May, 2011 -- If you are planning to undertake a move in the coming months, you have probably considered whether to choose new or resale housing.

Both options have advantages. Resale housing for example, offers a clear sense of a community's character and often, household projects that are necessary at the outset have already been completed. New construction meanwhile, is designed using the latest building techniques, which can translate into functional floor plans and improved energy efficiency.

By choosing to work with a Greater Toronto REALTOR® in your search for a newly constructed home, information on virtually all developments throughout the GTA will be at your disposal.

Through an agreement with RealNet Canada Inc., Greater Toronto REALTORS® have access to a database of new home listings that encompasses 99 per cent of all developments greater than 15 units in size throughout the GTA.

Updated on a monthly basis, the database provides coverage in both the residential development and commercial real estate investment markets, and includes more than 35,000 current records.

From condominium apartments in the heart of the city to a detached home in the 905 Region and everything in between, your Greater Toronto REALTOR® can give you full details on all of the new construction offerings in today's market.

A search of the RealNet database begins with general criteria such as housing type, location and price range. Once results are displayed, a considerable depth of information becomes available. The number of available units remaining, square footage and occupancy dates are among the specifics your REALTOR® can gather. Condominium buyers can obtain additional information on maintenance fees, storage lockers and parking availability. If you're interested in single-family dwellings, details like lot size, elevation and exterior finish are available.

RealNet also offers Greater Toronto REALTORS® detailed statistical reports on the entire new home market. Key information is highlighted including the number of product offerings, the previous month's sales, remaining inventory, average size, average price and average 12-month absorption by housing type.

By gaining the widest perspective on current market conditions and available new housing options, your REALTOR® can help you gain an accurate measure of your preferred builder's value proposition, giving you greater objectivity throughout the process.

When it's time to negotiate with a builder, enlisting the help of your REALTOR® will give you a clear understanding of your agreement, helping you to avoid pitfalls and potentially saving you money.

Your REALTOR® will demonstrate their value in many other ways as well, by advising you on government programs for homebuyers, offering specifics on neighbourhood amenities and managing the overall process to provide for a smooth transition.

To learn more about working with a Greater Toronto REALTOR® to buy your next home visit www.TorontoRealEstateBoard.com

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