If you feel like you’ve gotten in over your head and the new homeowner anxiety has set in, don’t panic.

Buying a home is a pretty big deal and if you think about it:  a whole new stage of life. Knowing what steps to take makes it much easier to cut through the different layers muddying the waters and close on the deal without much of a headache.

Fine print

Even compared to financially dense endeavors, buying a new home has more than a few hurdles that are hard to see coming.  It’s tricky business unless you get help.

Never be afraid to consult with everyone you can.  Take a realtor for example.  If you check the Housing Market Index (HMI) and you’re open to different neighborhoods, you stand a much better chance than someone flying solo for getting a good deal and lower costs.

Clarifying market trends gives you an edge but so does making sure someone’s watching your back.  One of the most common mistakes new homebuyers make is accepting a verbal agreement.  Make sure you’ve got someone to look over all your documents and anything you sign.  Everything should be in writing and you should be able to understand it.

Money matters

The other big pitfall new buyers can’t seem to avoid is underestimating a sound financial strategy.  If you’ve ever wanted to analyze your finances thoroughly, now’s the time.  List everything going in and out of your bank account and even credit.

Speaking of credit, you shouldn’t fool yourself into not getting a loan.  A history of playing fast and loose with payments and financial obligations is going to hold you back.  Luckily, it isn’t set in stone.  Review your credit score for errors.  They’re surprisingly common and can be fixed before lenders have to take a look at your credit.

In terms of loans, it’s less about you and more about them.  If you’re a seller would you be more comfortable selling to someone who thinks they can get you the money or someone who’s guaranteed to have it with a pre-approved loan?

Thinking ahead

Your home is more than a residence, it’s an investment.  If you keep in mind that the resale value can be cashed in later then it’s important you take care of it and think of the whole experience as a carefully planned financial move.

Don’t skip out on the home inspection and follow as many tips as you can to make sure the home is in tip-top shape before you commit.  Opting for homes with things like a large yard or extra rooms isn’t a mistake if you keep in mind that your circumstances can change at any time.  Luckily, you can make sure that you’re sitting on something that’s worth a lot.

Buying a new home is only as colossal and daunting as you let it be.  If you gather information, plan and amass support, new homeowner anxiety isn’t something you’ll have to get used to.

Start here

Finding the right home for your wants and needs can be very challenging, At Previn Court Homes, we recognize the peace of mind that a newly built home provides, and our friendly staff takes the time to introduce you to all of the features of our quality residences.

With over a thousand homes built over the last few decades, and plans to build thousands more, we know how to create houses that families call home, and we invite you to explore our models.  Contact us to learn more about our homes, or register for priority updates and special offers, and let us help you find your dream home.

Handling money is an artform.  Many people live paycheck to paycheck, while others save sporadically, but when you’re looking for a new home, a real commitment and discipline is required.  It involves a word many fear for good reason:  budgeting.

If you’re beginning the process of home buying, it doesn’t need to strike fear in your heart.  Quite the opposite:  all it requires is a little planning.  Whether you’re already looking at new homes or just thinking ahead, here are 5 quick tips that’ll help you create a budget.

1.  Pick a Day

A vague idea of when you’d like to move out won’t cut it.  You need to set a date. This will force you to start budgeting immediately.

Don’t make it unrealistic either.  Two years of savings is the most recommended amount of time and if you’re going to follow through with the following steps, you’re going to need the head start.

2.  Eliminate Your Debt

This may be easier said than done.  You’re going to eventually borrow money and if the people, companies or banks that are lending it to you see you’ve taken the steps to get rid of your debts, then it’ll do nothing but make things easier for you.

Do anything and everything to head into your budgeting with a clean slate.  If you have to, think of debt consolidation or talk to your bank.

3. Split the Payment

If you’re going in on this with someone else, you should consider a dry run.  Open up a savings account and every month pay half of a mock mortgage payment.  This will build up quickly between the two of you.

Open up the most attractive savings account you can.  Whether it be high interest, tax-free or anything else your bank or accountant recommends, try to get an edge.

4.  Cut the Fat

If you haven’t already, map out all your income and your expenses.  That means everything from bills to the muffin you buy on rough mornings.  This should leave you with your net income or your ‘take home pay.’

If you were honest with yourself, you should already see some extras that you can do away with.  This is a long-term commitment and that means sacrifice.  Let go of anything that isn’t necessary, and if you can’t let go of something (food for example), buy cheaper brands.

5.  Make an Emergency Fund

Owning a home is not like renting.  Homeowners quickly learn that repairs and maintenance bills are a real money sink.  While you save you should consider opening up a second savings account with a small regular deposit.

Ready to Start Looking for Your Dream Home?

Once you’ve got your budget plans laid out, you’ll have a better springboard for the house hunting process.  But where do you begin looking?  Now that you know what you can afford, you can start considering how you’ll be making an investment in property.

When it comes to the best return on your investment, buying a brand new home is going to ensure that you end up with an entity that will have increased value in the future.  At Previn Court Homes, we know that home buyers are looking for a residence that will make them feel both physically and financially comfortable.  Learn more about our beautiful affordable new homes to buy, or contact us to register for priority updates and special offers, and find the perfect home for your budget.

Taxes and accounting in general are always confusing but what if you qualified for home tax deductions?  It’s almost like the opportunities to get some cash back in the form of credits is hidden on purpose.  Luckily you can cash in if you know what to look for.

Give and take

Shaving down your taxes is definitely something to be excited about.  Getting a meaty return isn’t as hard as we think, it just isn’t advertised well.  There are credits for all sorts of things, including getting a new home.

Some of those include:

• Donations:  Into politics?  Donating to charities, political parties or candidates can get you a credit, starting at 15% on the first $200 and going up from there.
• Transit passes:  If you find yourself taking public transit more than driving than you might be able to get a little back for the money spent on passes.  Weekly and monthly passes can be claimed if you’ve got the receipts (or the cards themselves in some places)
• Children:  Expenses for childcare, arts and fitness are covered as well as a separate credit for kids under 18.  If you have children, there are quite a few credits you should look at.
• Medical:  Treatments, medicine and even food in your diet (if you’ve got a special one relating to your health) may all have the potential to be claimed.  Disability credits are worth $1500 per adult alone and there’s some little known ones that can even be claimed for conditions like ADHD or Anxiety Disorders.

Those are just the tip of the iceberg.  These conveniently obscured tax credits can all add up (if you’re eligible) but what you should really be interested in is the home tax deductions.

A little help, please

Believe it or not, as a new homeowner, you’re entitled to a tax credit yourself.  You can get up to a $5000 tax credit if you meet a few requirements.

Firstly, it has to be a new home.  What that means is that you (and your spouse) cannot have lived in an owned home in the past four years.  Naturally, rental properties or the family home are excluded.

Secondly, the home has to be a qualifying home.  The rest is a matter of actually claiming it and filling out the necessary information.  Simply being aware of the credit is almost enough to get it!

The extra help is certainly welcome and it’s up to you to be resourceful.  By combining some of the credits above, the first-time home buyers credit and even claiming moving expenses under certain conditions life gets a lot easier.

Now, we’re not saying there’s a tax credit out there for everything but there are plenty that are out of sight and worth looking for.

Qualifying for home tax deductions and other credits isn’t difficult and if you’re trying to stay within a budget and be smart with your money, they shouldn’t be overlooked.  The effort is minimal and the payoff is worth it.

Take Advantage of the New Homeowner Credit

Finding the right home for your wants and needs can be very challenging, At Previn Court Homes, we recognize the peace of mind that a newly built home provides, and our friendly staff takes the time to introduce you to all of the features of our quality residences.

With over a thousand homes built over the last few decades, and plans to build thousands more, we know how to create houses that families call home, and we invite you to explore our models.  Contact us to learn more about our homes, or register for priority updates and special offers, and let us help you find your dream home.

Buying a new home is one of the most expensive investments you’ll ever make.  It’ll pay off in freedom and increasing value over time, but getting the money together in the first place is a source of frustration for many. Borrowing money isn’t the only option, and by being resourceful and creative, you can save a significant amount of cash quickly to put towards your home.

Whether you’re interested in purchasing a new home as soon as possible, or it’s a consideration for the future, we’re going introduce you to some of the fastest ways to save your money.

Spend Less

This one may seem like a no-brainer but you’d be surprised how difficult it is to do.  The first thing you can do to start saving for your home is to spend less on what you’d typically buy.

This does not mean eating less and living beneath the poverty line.  What it means is to look for alternatives.  If you’re used to certain brands of foods, look for ones that are cheaper and put the difference between the two away as savings.

Sell More

Don’t think you’re a hoarder if you can’t stand to get rid of your stuff.  It’s hard for all of us to say goodbye to something we worked hard to pay for, but if you want to start saving money, you’re going to have to think about selling what you don’t need.

Luckily, this has gotten easier with the internet.  Put out ads on craigslist, kijiji and ebay and watch the money come in.  If you’re in a nice community, think about a garage sale. Every bit helps and you’d be surprised how much people are willing to pay for something you don’t need.

Secondary Revenue Streams

If you want to save faster, you’re going to have to double or even triple your sources of money.

This doesn’t mean working 80 hour weeks and sacrificing sleep.  If you have an extra room, consider renting it out.  Also consider your skills – can you do anything on the side for money?  Plenty of people write, design and repair things on a freelance basis and make money that way.

Set It Aside

No matter what you do, make sure to set the money aside as fast as you can.  Even if you don’t supplement your income somehow, make sure to put some of your paycheque in a savings account right away so you don’t accidentally spend it.

You’ve Saved Your Money.  Now Where Do You Look for a New Home?

Saving for a new home is only first of many steps to owning a home. Once you have some money in the bank and you’re ready to start looking, you’ll need to choose whether you want to move into an older home, or if a brand new home is your cup of tea.

When it comes to new home builds, Previn Court Homes is best in class.  With over 35 years of experience, we have built homes for over a thousand families, including detached, townhome, and unique attached single units, and we can help you find the perfect home for you. Contact us to let us know your desired number of bathrooms and bedrooms, as well as your budget, and we’ll send you priority updates and special offers on our beautiful new homes.

GET READY! OUR 3RD PHASE WILL BE COMING SHORTLY!  LARGER LOTS, LARGER HOMES. 40′ AND 50′ LOTS.  PRE REGISTER NOW FOR UPDATES.

IMAGINE…A TRULY UPSCALE COMMUNITY WHERE YOU CAN WALK OR BIKE WITH YOUR FAMILY TO SCHOOLS, TRAILS, PARKS, SHOPS, RESTAURANTS…

If you’ve ever been looking for a new place to live, then you’ve no doubt had this question cross your mind:  To rent or to own?  It’s a loaded question and the opinions you get will be pretty divided.

The only way to really know what to do is to look at the pros and cons objectively.  Let’s examine the advantages of both options, as well as the challenges you may face.

Round 1:  Freedom

The question you need to ask yourself is how much freedom you want. When you’re renting, you’re at the mercy of your landlord.  Depending on the location and type of dwelling, you may face restrictions.  However, if you wanted to live somewhere new, moving out isn’t a complicated process – it just means waiting until the rental agreement has expired.

Naturally, buying puts you at the opposite end of the spectrum.  It’s your property and you can generally do as you please.  You won’t have to worry about someone constantly watching over you and you can make the space as unique as you’d like.  Of course, this means that you’ll want to consider the value you are adding to the home when making any adjustments.

Round 2:  Cost

If you’re made out of money, you really don’t need to worry about renting or buying.  For most of us, however, it’s a legitimate concern.  Renting can seem attractive because of the simple nature of forking over rent, whereas buying a home will be a bigger strain on your wallet and the process is much more complicated.

When comparing buying and renting, a great tool to employ is the price-to-rent ratio. It weighs the cost of purchasing a home with the annual cost of renting one.

To figure this out simply take the sale price of your home and divide it by the annual cost of renting. The resulting number is your price-rent ratio. A P/R ratio above 20 usually means that owning that house will cost you more than renting it monthly.

Round 3:  Investment

While you may feel like you’re saving by renting, you aren’t making an investment.  This is where buying has an edge.  Purchasing a home isn’t going to make you rich overnight, but since you own the property, it’s yours to sell in the future.  Any additions you make can raise the value, and as the market and your area change with time, so to does the resale value of your home.

Renting doesn’t offer the same benefits and the best you can hope for is rent staying the same.  This is the ideal scenario as many people who rent can attest to steadily increasing rates.

In the end, it’s all about what you need.  Buying may seem more costly but it’s a decision that can give you more long term freedom and stability, while renting suits those looking for a quick (and potentially temporary) accommodation.

Interested in Buying the Right Home for Needs?

If you’ve decided that buying a home is the right choice for you, the next step is finding a home that’s the right fit for you.  Buying a home is one of the most important investments you’ll ever make in your life, which will impact how comfortable your family is both in the house and financially in the future.

At Previn Court Homes, we know this decision is an important one, and we strive to create beautiful homes that will provide long term value.  Since our inception over 40 years ago, we have constructed in excess of 1500 homes in Canada, and in the process made the dreams of 1500 families come true. Take a tour of our incredible models, or contact us today for more to let us know your needs in terms of bathrooms, bedrooms and budget.

If you’re on the verge of choosing one of the many new homes in Alliston or anywhere else you no doubt have people giving you tons of advice.  With so much unsolicited input, the right course of action is often a little muddled.

Here are a few examples of advice that you should totally disregard.

Don’t worry, I got this

We’ve all got that one friend, hookup or family member that can help us with any handiwork in a pinch.  The problem is relying on them versus an expert.

Of particular importance is the home inspection.  While it can be tempting to have someone you know and trust check things, a professional has experience on their side, focus and most of all, they’re impartial.

There’s another benefit to hiring for the inspection:  second opinions.  If you’re concerned, a second set of eyes may be able to catch something not found during the first pass.

The second expert most often forgotten is the one we hope we don’t have to see often:  a lawyer.

Lawyers are there for clarity’s sake.  In this case, you’ve got a complex agreement that has to be signed off on detailing all the conditions of the sale.  Sure, you could try, but a lawyer can make you actually understand it.

They’re also there to stand up for you.  Lawyers can represent your interests and make sure they’re recorded in an agreement.  Do you want to be responsible for a forgotten backyard leaking underground oil tank?  Get a lawyer on it and you won’t be.

Dollars and sense

The other thing that’s not surprisingly the cause of unwarranted advice is money.  Some people who survive the home buying experience suddenly think they’re Donald Trump and everyone else might as well work on Wall Street.  The thing is, a lot of what usually makes sense in terms of money doesn’t work that way when it comes to closing on a home.

Let’s talk financing for example.  It’s common for all the people offering you their two cents to say that you won’t have to:

• Spend your own money – There’s a misconception out there that you should just lean on credit, loans and a mortgage.  If you have the money though, why would you want to add a long-term expense and pay interest?
• Get a mortgage online – Go for a low rate they say.  Too bad hardly anyone qualifies for their super low rates, which often end up being a lure for new customers.
• 0 Down Mortgage – This doesn’t account for closing, maintenance, fees and any adjustments or repairs.

Get the right advice, right from the start

When you’re sitting there looking at the options for new homes in Alliston or wherever the search leads you, take people’s advice with a grain of salt.  If you go about it with a clear head and hire the experts to help, you won’t regret the investment later.

At Previn Court Homes, we know this decision is an important one, and we strive to create beautiful homes that will provide long term value.  Since our inception over 40 years ago, we have constructed in excess of 1500 homes in Canada, and in the process made the dreams of 1500 families come true.

Take a tour of our incredible models, or contact us today for more to let us know your needs in terms of bathrooms, bedrooms and budget.

If you’re buying new homes in Alliston or elsewhere, you should know what to look for to make sure you’ve made the right choice.  Just because it’s new doesn’t mean it’s perfect.

If you know what signs to look out for though, you won’t have any surprises once you’re settled.

Where the action happens

Out of all the rooms in your new home, the ones that should be scrutinized the most are where all the action happens.  No, it’s not the room you’re thinking of.  The rooms that see the most use in your home are the washroom and kitchen.  They’re also the ones that can rack up some pretty costly repair bills.

Let’s start with the kitchen.  It’s important to make sure your appliances are not only modern, but good.   Take the model names and do some research online.  Find out if anything comes with a warranty while you’re at it.  The more you know, the better off you’ll be.

The next thing you should do is follow the water.  Look at pipes and sinks and make sure there’s no leaking.  Then, look for any cracks or chipping in your tiles, tub, sink, stone and walls.  If they look like they’re in good shape, it’s time to talk maintenance.

Upkeep

Your house, even when it’s new, starts to wear down.  You don’t have to worry about this for years typically but if there’s a defect or damage, the process will be the same, if not worse than a used home.

The roof for instance, is definitely one place you can afford to be picky.  A bad or poorly set up roof can result in damage and leakage.  If you can, have a look and try to spot any abnormal shingles.

Besides the roof, you should have anything that controls climate or is key to the structure inspected.  This includes:

• Heater
• Air Conditioning
• Basement/Foundation
• Insulation

There are other potentially problematic areas you can inspect but another way you can protect yourself when buying new is in writing.

I hereby declare

Making sure your new digs are tip-top is definitely a good thing but you can’t neglect the little details.  One of the mistakes new homeowners often make is not understanding their agreements.  Have these legal documents looked over by legal professionals and you’ll be able to understand them clearly.

It pays off if your agreement gives a clean bill of health to aspects of your home that fall apart.  Now you’re covered.

Similarly, when inspecting your space, find an expert.  After that expert is through, find another one and get a second opinion.  Not only could you save money, you now have a more complete picture.

The key is to pause before signing off and settling in to your new property.  If you analyze everything and cover all the bases, you can rest easy knowing you made a safe investment, whether it’s homes for sale in Alliston or tucked away in a skyline.

Make the right choice, right away

Whether your buying new homes in Alliston or further out, keep your eyes open and make the decision that best suits your needs before your wants.

At Previn Court Homes, we know this decision is an important one, and we strive to create beautiful homes that will provide long term value.  Since our inception over 40 years ago, we have constructed in excess of 1500 homes in Canada, and in the process made the dreams of 1500 families come true.

Take a tour of our incredible models, or contact us today for more to let us know your needs in terms of bathrooms, bedrooms and budget.

Buying new homes in Alliston and elsewhere can be tricky if it’s your first time.  Paralysis by analysis is common and for good reason – there are tons of details to keep track of.  Sometimes though, knowing the most common things people do wrong is enough to keep you on the right track.

1.  Being a know-it-all

One of the typical things people get wrong on their first purchase is trying to do too much.  Real estate websites are increasingly detailed and it’s easy to forget what realtors are for with so much at your fingertips.

Markets are complex and only an agent guiding you through it can reveal subtle nuances that may not be reflected on the online price.  Turning your back on experience only leaves room for error.

2.  Not looking closely

Ignoring your home inspection is inviting nasty surprises, period.  Homes can be filled with deficiencies, either because the home is old or because it was built incorrectly.  As time goes on, components give in to wear and tear, requiring expensive repairs.

One of the biggest benefits of buying a new home is that it saves on all the maintenance.  No matter what you do, don’t skip the inspection unless you’re okay with the eventual repair bill.

3.  Being too understanding

New homeowners don’t actually realize how important they are.  Being okay with say, a delay on your home, isn’t something you should do.  Since roughly 2006, critical home dates are now part of the contract and purchasing agreement for your home.

This means it’s not okay for builders to string you along.  Don’t forget that if you’re slammed with a delay notice you’re entitled to ask for compensation for the extension or even back out.

You don’t want to be one of the many people who waited forever on a developer with no intention of finishing on time.

4.   Dotting I’s, Crossing T’s

The contracts and agreements are the most important components of your new purchase.  Don’t just give them a read. Legal advice can save you in situations like this.

When it comes to a new home, the builders have the right to change anything including floor plans, additions, features and even keep the real square footage a mystery.  It’s important that you get everything, yes, everything, in writing.

A lawyer can confirm what you’re actually getting and help make sure the details are accounted for with no random variables kicking around.

5.  Getting emotional

Don’t let your emotions get the better of you.  If a place seems great but it’s way over budget, don’t put your financial future in jeopardy.  If you’re taking a tour of the house, don’t ruin the seller’s impression of you by complaining about what you see.

Make the right choice, right away

Whether your’re buying new homes in Alliston or further out, keep your eyes open and make the decision that best suits your needs before your wants.

At Previn Court Homes, we know this decision is an important one, and we strive to create beautiful homes that will provide long term value.  Since our inception over 40 years ago, we have constructed in excess of 1500 homes in Canada, and in the process made the dreams of 1500 families come true.

Take a tour of our incredible models, or contact us today for more to let us know your needs in terms of bathrooms, bedrooms and budget.

The hour is nigh and you’re moving on, either into a newly built home or a space you need.  The trick is knowing when to invest.  It’s a lot easier if you keep an eye out for a few simple signs.

1.  You’re constantly renovating your home

If you’ve ever tried to re-do, modernize or expand your living space then you know how much of a headache it can be.  Not to mention the hit in the wallet, a reno is a long and messy affair.  The cost of a new home would be offset by the savings in maintenance, long term.

So before you get worked up and set up camp, think about the freedom you’d get from a new home:  Zero labour hours and a cheaper, modern place that you can actually custom order.

2.  You’re at a new stage in your life

Sometimes you get to a new stage in life and it’s time to change.  This can be upsizing, downsizing and everything in between.  A new home has the benefit of being easily customizable, reflecting where you want to be in life.

3.  Your family is growing

Families have a tendency of getting bigger over time.  You can only repurpose so many rooms before it starts feeling a little tight in there.  You can take advantage of having to look and find one that’s close to schools, doctors and anything else a growing family would need.

4.  Your kids have moved out

You’ve done your due diligence and the children have left the roost.  Staying in a home out of love is a quaint idea but you could be saving a lot more by moving into a new, energy efficient home.  The extra money is yours to do with as you please, giving you some nice elbowroom from then on forward.

5.  It’s getting expensive

How was your appointment with the contractor this month?  Expensive, I bet.  If repairing and maintaining becomes as routine as a trip to the doctor then you should consider stepping off the treadmill.  A switch to a new home means everything isn’t falling apart.

Maintenance savings aside, this is a great way to focus your attention elsewhere without having to constantly look at the ceiling or pipes with trepidation.

6.  The master plan

You know exactly what you want and a new home is part of it.  Homebuilders are always willing to do more for prospective buyers with a particular home in mind.  You can let loose and tweak your home so that it matches what you have in mind for the next phase of your life.

Whether a newly built home happens because you feel it in your gut, or it’s all part of your master plan, knowing when to take the plunge is as simple as recognizing the signs that the time is right.

Do any of these apply to you?

If you’ve decided that buying a home is the right choice for you, the next step is finding a home that’s the right fit for you.  Buying a home is one of the most important investments you’ll ever make in your life, which will impact how comfortable your family is both in the house and financially in the future.

At Previn Court Homes, we know this decision is an important one, and we strive to create beautiful homes that will provide long term value.  Since our inception over 40 years ago, we have constructed in excess of 1500 homes in Canada, and in the process made the dreams of 1500 families come true.

Take a tour of our incredible models, or contact us today for more to let us know your needs in terms of bathrooms, bedrooms and budget.