Sunday, February 24, 2019

Lack Of Homes Pushes People To Build New Custom Homes In Collingwood Area

If you are looking to move up to the Collingwood/Thornbury/Town of The Blue Mountains area and you just started looking at real estate, you might be disappointed at the utter lack of houses that are for sale in the area.

This is because there are simply not enough homes in the area for the amount of people that want to move here. There is also not a lot of people that are moving out of the area to go somewhere else. There has been enough development in infrastructure that people of all ages can now live here.

This has created a scenario that has seen the price of homes rise and the demand for those homes rise as well. Supply and demand in action.

What is a person to do if they can't find a house that properly suits their needs?

You could always build yourself a new house.

That's right you could build a new custom home for yourself. There are still pieces of property inside and outside of town that you can buy and build a new house on.

How do you get started?
  1. Look on the real estate listings for a home that will suit your family, if you can't find anything there then you might need to build a new home.
  2. Once you have decided on building a new home you will need to figure out what your budget is, remember that a new custom home might cost you a little more then buying a used home, but its a brand new home not something some else has already used.
  3. Start looking around through the real estate listings for the perfect piece of property to build a new custom home on, this is were real estate agents really come in handy. Remember that the cost of your lot will come out of the new home budget.
  4. Find yourself an architect/builder. Why do I say both? Because you need at least one of them, an architect can find you a builder, but also a builder can find you an architect. They both can advise you on how much building a new home will cost and what you can afford.
  5. Once you have both then you can plan your new home and budget for it.This might take longer then you think as architects are fairly busy these days, every time you change the drawings or adjust something in the plan you extend the design time that it takes to get the plan completed.
  6. Secure your financing. If you don't have the luxury of having all the money already to build your new home then you will need to take your plans and the budget that your builder has given you to a financial institution for funds. Do not make the mistake of taking less money then what your builder has budgeted. Thinking that you will com under budget is a mistake. You might come under budget in your build but if you don't then there will be a point in the build where you run out of money and the build will come to a stop until you can secure more funding.
  7. Get your permits. This might take sometime depending on how many different organizations will be involved (municipal building department, conservation authority, escarpment committee).
  8. Build your new home.
It sounds easy and its not actually very hard it just takes some time and patience. Remember one thing about building a new custom home, in the end it might cost you more then a re-sale home but as soon as your new home is completed its probably worth more then what you paid to have it built.

This entire process will go smoother with the right companies, find the right ones for each step and the process will be a lot smoother and less stressful.

If your moving to the area and want to build a custom home send us an email and let us help.

Village Builders Inc.

No comments:

Post a Comment