THE HOME PAGES : A HOME RUN FOR NEW HOME BUYERS

I recently penned an article for this section which condensed the “seven steps to a secure investment”. This was specifically targeted to first time buyers and was designed to smooth the often-bumpy road to buying a new home. Well, dear consumer, you can now add an outstanding new publication to your arsenal that goes even further.

“ THE HOMES PAGES” is a comprehensive field guide to the new home purchaser. It has been prepared and published by the Greater Toronto Home Builders Association (hereafter GTHBA) as a “single, step by step guide to finding a new home that’s right for you”.

This 40 page booklet hits the key components of financing, mortgage insurance, tax programs, selecting a builder, the warranties, legal issues, closing dates, delays and costs, the construction process and much more.

Mr. Stephen Dupuis, the Executive Vice President, of GTHBA says, “We, the home building industry, recognize that there was not one single source that consumer could get comprehensive information about buying a new house. From government agencies to our own association there was lots of information available but never before in a single co-ordinated guide book – that’s what Home Pages is and the response to our launch just a few weeks ago has been phenomenal”.

Well it’s not a surprise that Mr. Dupuis and his team at GTHBA are excited. The publication is well presented in a very readable format – easy to understand with clear and concise direction.

STARTING YOUR SEARCH
The components of Home Pages initially start you on your search through a logical and practical process. From the type and benefits of a new home to your financial requirements, the package is full of helpful hints.

Each of the sections is referenced to further explanation on linked web sites – A “Quick Tips” financing feature at www.royalbank.com or the fundamentals of financing from www.cmhc.ca.

Doing your homework, making a checklist and investigate the builder’s past performance are all effective tools outlined in the homebuyers search.

THE OFFER MADE EASY
Perhaps the most frightening or intimidating component of real estate is the actual Offer to Purchase. A legal labyrinth of terms and clauses that can make your head and your wallet spin and not necessarily in sequence. Home Pages provide a very simple yet comprehensive review.

You are probably aware that the Warranty Program protects your deposit up to $20,000.00. But what if you are required to provide a considerably higher deposit. Well, London Guarantee will provide deposit insurance for the amount over the $20,000.00 at a very reasonable cost - see www.londonguarantee.com.
Home Pages takes you through the condominium buying process and highlights all the legalities involved in now what is over 30% of new homes sold in the Greater Toronto Area.

TAXES AND CLOSINGS
The only sure things in life have been described as taxes and death – certainly the industry would like to add your closing date. But given the uncertainties of strikes, weather and material supply, closing dates can be a moving target. The Home Pages provides an excellent outline of both the buyer’s and the builder’s responsibilities at closing and the process of remedy should there be a delay.
Tax rebates and closing costs are forever changing. Mr. Dupuis assure that the GTHBA web site will provide the latest information. Home Pages gives you the current rulings regarding the GST, land transfer tax rebates and mortgage insurance fees. I know it hurts to pay taxes but at least with Homes pages you won’t ever be surprised.

THE WARRANTY and THE BUILDER
Ontario has perhaps the finest warranty program for new housing in the world. ONHWP (Ontario New Housing Warranty Program) is celebrating its 25th year and a synopsis of coverage and protection is provided in Home Pages. The fees range from $600.00 to $1,300.00 as a one time charge usually paid as an adjustment on closing.

Every new home builder in the province is required to register with the Warranty Program and each individual home must be enrolled in the program before construction can begin – check it out before you sign on the dotted line.
Dealing with your builder is an insightful section that takes you through a process that for some is a nightmare but for the vast majority is a very pleasant experience. Knowledge of this process is an important advantage for the consumer. It provides realistic expectations.

The Home Pages is a terrific piece of work. The GTHBA should be congratulated for their efforts but most importantly the consumer is the ultimate winner. To get your copy visit online at www.thehomepages.ca or call GTHBA at
(416) 391-HOME (4663) or look for it at new home sites throughout the GTA.

Keep Positive!
PMA Brethour Group
Andrew Brethour
Marketing & Sales Consultant to the New Home Industry
andrewb@pmabrethour.com