Tarion Advises On – What to Consider Before Buying a New Home?

Eons ago Tarion was popular among Canadians as Ontario New Home Warranty Program, initiated by the Ontario Government in 1976 to oversee the New Home Warranties Plan Act. Its prime aspiration is to safeguard new home buyers by making sure that builder including the GTA home builders, concede in the provincial legislation. Tarion is financed exclusively by renewal fee, builder registration as well as home enrollment fees.

The warranty protection outlined by Tarion for new home buyers is cited below; 

The Tarion Mandate 

• Licenses new vendors and Ontario home builders.
• Makes sure home builders or vendors completely adhere to the Ontario New Home Warranties Plan Act. 
• Aids in educating and creating awareness among new home buyers about various warranty rights.
• Safeguards home buyers when their builders backside to meet their warranty commitments 
• Enacts upon dispute pertaining to the warranty coverage.
• Probes illicit building practices.
• Advocates superior building standards of new building construction  including luxury condominiums.

Tarion has, in fact emerged as one of the best all-inclusive warranty program especially for those intending to purchase new luxury homes.

Effective Guidelines to Purchase a New Home 

• New home buyers should select home that complements their lifestyle and requirements.
• Determine your budget for a new house.
• Extensive research on the proposed builder is advisable .If interested seek out any builder you are confirming  by clicking on http://www.tarion.com/_layouts/buildersearch/
• builder_search.aspx ,to make sure your builder is already registered with Tarion.
• Before you enter into compliance or sign a purchase and sale agreement or any contract for your new home, seek the services of an accomplished real estate layer. 
• Make sure you prepare well for your PDI or Pre-Delivery Inspection.
• Visit Tarion’s video library online having collection of educational videos specifically designed to aid new buyers. You can learn more about the statutory warranty coverage as well as how to make your claim.
• Custom home buyers are also expected to complete their warranty forms and submit them on time. Tarion guidelines encourage consumers to review the prime construction performance guidelines before submitting their forms.
• Once you have made the biggest investment of all time, you must take utmost care of this asset all throughout the year. It’s crucial to bear in mind, that initiating ongoing upkeep of their estate homes will make sure the statutory rights are safeguarded. 
• Consumers should enjoy all they have strived for! They have conducted an extensive research, taken a wise decision and waited long by the time they become the proud owner of their new house. Now it’s time for the owners to indulge in everything their new house has to offer. 

Types Of Houses Not Covered By Tarion 

• Projects indicated as “condo conversions” are not covered by Tarion. Conversions are usually a former infrastructure, generally commercial building or an existing apartment infrastructure transformed into condominium. 
• Homes built by owners 
• Renovated houses 
• Houses constructed on former foundations 
• Seasonal house that does not satisfy the year-round occupancy terms. 
• Houses that were formerly occupied by the builder or rented out by them. 

"Bremont Homes, a Tarion recognized firm has been delivering ace customer delight in some posh locations, in the Greater Toronto region. From custom-built homes to luxury condominiums and new detached homes Bremont Homes offers it all."

Top 5 Mistakes New Homebuyers Make

Mistakes

Are you preparing to buy your first home? Do you want to own a place that you can call home? If yes, there are a few things that you need to keep in mind to ensure that homebuying is a positive experience for you. In this article, we will take a look at some of the most common mistakes new homebuyers make, and what you can do to avoid those mistakes. So, let’s get started.

#Mistake 1: Jumping into Homebuying without Analyzing your Financial Situation

Buying a home is one of the biggest financial decisions for most people. Therefore, it is important to thoroughly analyze your financial situation before you start scouting for a property. Doing this is important as you will know whether you can afford to buy a home or not. If you have too many expenses currently, or if there’s a big expense coming up in the near future, it is advisable to wait for some time before you make such a big investment.

Financial mistakes

#Mistake 2: Not Getting Pre-Approved for a Mortgage

Getting pre-approved for a mortgage helps you know which properties you can realistically afford. Many first-time homebuyers make the mistake of scouting for properties without knowing whether they will qualify for a loan in the first place. Getting pre-approved for a mortgage will save you the time and energy, as it would narrow down your search. 

#Mistake 3: Selecting the Show Home

Well, truth be told, buying new homes is not only a financial decision for people; it is also an emotional decision. Many new homebuyers simply fall in love with the show home that the builder has spent a fortune on, without asking the necessary questions. The end result is their dream home doesn’t have all the features that they had seen in the show home. To ensure that you don’t make the same mistake, it is advisable to ask the builder about the features in the show home. Most of the accessories that you see in the show home are upgrades, and to have these incorporated in your home, you will need to pay the builder extra money. Therefore, before you decide to make your decision based on that beautiful show home, get real and ask all the necessary questions.

Mistakes

#Mistake 4: Not Seeking the Help of a Real Estate Agent

People who have experience with buying and selling properties can do without a real estate agent. But, for first-time homebuyers, seeking the assistance of a real estate agent is highly recommended. A real estate agent has access to better deals and he/she can also help you through the complete process of homebuying. Real estate agents also know about the track record and reputation of the builder which first-time homebuyers have little knowledge about.

#Mistake 5: Ignoring the Need of a Home Inspection

Home Inspection

Many new homebuyers ignore the need of having their home inspected by a professional. Getting your home inspected by a professional can help you get information about the structure of the new home construction and mechanical system of the property. With the help of a home inspection, you will be able to know whether you need to carry out any repairs and the cost for the same.

These were 5 common mistakes that new homeowners make. As we discussed earlier, if you have the knowledge, the whole process of buying a home will become a lot easier for you. Concluding, we hope that the tips mentioned in this article are beneficial for you.

Rent vs. Buy: Why Buying a Home Generally Wins

Buy or Rent a Home?

“Should I buy or rent a home?” — this is one of the most common questions that people ask. With a stable economy and belligerent housing market, many Canadians are thinking about realizing their dream of owning a home. However, the thought of committing to a mortgage, coupled with the uncertainty about a speculative bubble has made many Canadians think whether renting is the easier and more affordable option.

When it comes to the question of buying or renting a home, there’s no single, universal answer. Every individual’s financial state and goals are different — some are better off buying a home, while renting works great for some. There are a number of factors that you need to take into account to decide which option is better. 

Advantages of Owning a Home

Independence & Privacy

Buying a home offers you a greater degree of independence and privacy. People living in detached homes have the freedom to color their interiors and exteriors in their favorite colors. They also have the freedom to make any renovations or changes to their homes.

Pride of Home Ownership & Sense of Community

For a lot of people, owning a home is about realizing their dream of having a place which they can call their own. Becoming the owner of a home is associated with feelings of pride and honor. Becoming a home owner also gives a sense of community well-being and people become more actively involved with the issues concerning their locality/region.

Builds Equity

The monthly payments you make towards your mortgage helps you build equity in your home. The initial monthly payments go towards paying the interest, but over a period of time, you start paying the ‘principal’ and build equity in your home. This helps provide stability and security for your family.

Tax Deductions

Buying a home gives you an opportunity of deducting mortgage interest and property taxes from your income. Many homeowners benefit from these tax deductions as initially, most of the payments go towards paying the interests.

Stable Monthly Payments

When buying a home, you have the option of choosing a fixed-rate mortgage, which means your monthly payments will remain same over the term of the loan. This helps homebuyers plan their monthly budget in an organized way. People who rent a home have to pay a higher amount after a period of time (depending on the contract/lease). 

Increase in Borrowing Power

As you build equity in your home, new borrowing avenues open up for you in the form of HELOC and other loans. These loans can be used for any renovations/repairs or funding your child’s education.

Disadvantages of Owning a Home

Long-Term Financial Commitment

Most mortgages come with a 15+ years of amortization period, which means you have to make those monthly mortgage payments for a really long time. Some people feel as if they are chained when they think of committing to such a long-term loan.

Maintenance Costs & Property Taxes

In addition to making the monthly payments, homeowners also need to pay for maintenance costs and property taxes. This can put a burden on your budget or force you to take more credit in case you haven’t planned for it.

Decreased Mobility

Renters have the benefit of moving quickly from one job to another, in case of a job transfer, unemployment, etc. Homeowners on the other hand need to sell or rent out their property before they make the move. This involves a lot of searching around and legal work which can take a lot of time.

Buying Home Wins

Although home ownership and renting both have their pros and cons, the former is a long-term, stable approach, while the latter is usually a short-term fix. Since times immemorial, humans have shown an inherent tendency to settle at one place and develop a sense of community and bonding with their neighbors. Even from a financial perspective, owning a home is more beneficial than renting a place, especially if you plan to stay put for more than 5 years. The feeling of pride and the joy it brings it to your family cannot be measured on any mortgage calculator. We would like to conclude this article with this beautiful quote by Suze Orman — American author and financial advisor.

 "Owning a home is a keystone of wealth, both financial affluence and emotional security."

Fall Home Décor Tips for Your New Luxury Home

Autumn

Autumn, or fall is finally upon us, and it’s that time of the year when a certain level of melancholy and nostalgia creeps up even in the most vivacious of people. Trees start shedding their leaves, the sky turns grey, and an anticipation of a chilling winter invades most people.

It’s not to say that people don’t enjoy fall; in fact, many people make up special plans to see the foliage at various famous places. And, with the recent reports by Environment Canada that West Coast, Atlantic regions, Quebec, and Southern Ontario will have above-normal temperatures from September to November, many Canadians are looking to invest in home decoration for their luxury detached homes.

Fall Décor Trends in Canada

Custom-built homes

On the topic of home decorations, the autumn trend for most custom-built homes is incorporating bright, rich colors and patterns to create a lively ambience. Whether it is giving a little touch up to a porch or using color pillow covers, fall is the season of experimenting with the look of your home. Let’s take a look at a few home décor tips that you can incorporate this fall.

• You will spending more time indoors in the fall, and to create a warm, inviting ambience in your living room, it’s advisable that you use colorful pillows on your sofa or chairs. Including colorful sofas of different sizes and patterns adds a level of liveliness to your living room and makes it enjoyable for you to spend time there.

• While enhancing the visual appeal of your home in fall will help you create an inviting ambience, incorporating aromatic elements in your home will have a positive effect on your sense of smell. The smell of burning your fireplace for the first time will make you remember the cozy, lazy afternoons that fall and winter are known for. Also, including pumpkin pies will boost the aesthetic and aromatic elements of your home.

Bedroom

• To create a lively look on your floors, we suggest using colorful layered rugs. Layered rugs will not only add color to your floors, but also help your feet stay away from the cold tiles. While using layered rugs, just keep in mind that the colors should complement each other. Using contrasting colors can accentuate the look so, put your creativity to use when selecting the rugs.

• Although you will be spending more times indoors in fall, it doesn’t mean that you completely ignore your outdoor space. After all, it’s the first thing that your guests will be introduced to when they come visiting. Using colorful accessories in front of the door or on the stairs can create a warm atmosphere.

• While letting in fresh air and sunlight was the approach in the summers, you need to create insulation and warmth in the fall and winter. Using colorful draperies and curtains can add vibrancy and warmth to your rooms.

These were a few home décor tips for your new luxury home. We hope that the simple yet effective tips mentioned in this article will help you create a warm, colorful ambience and help you enjoy yourself completely this fall.  

Why Brampton is an Amazing City to Buy a New Home

Brampton, ON

Brampton is one of the fastest growing large cities of Canada. Brampton has seen rapid advancement in its economy and today, 72% of the city’s economic comprises of service-producing companies. With its multi-cultural fabric and sound economy, Brampton is fast becoming one of the preferred places to buying new home for many first-time buyers.

Brampton: A Brief History

Brampton takes its name from the rural town of Brampton in Cumbria, England. Brampton was incorporated as a village in 1853 and by 1869, it was in the County Town of Peel. Brampton was once known as The Flower Town of Canada because of the flower nurseries set up by Edward Dale, an immigrant from England. It is estimated that there were around forty-eight hothouse flower nurseries in Brampton at the height of flower producing business.

In the middle of twentieth century, Chinguacousy and Toronto Gore were incorporated into Brampton. It was only in the year 1974 that the new city of Brampton was created from the Townships of Chinguacousy and Toronto Gore. In the 1980s, due to a huge demand for new homes in Brampton, large swathes of land were sold to the developers. The constant influx of immigrants over the years, coupled with good employment opportunities has contributed to Brampton’s development, making it one of the fastest growing Canadian cities.

Multicultural Brampton

Brampton is known all over Canada for being a melting pot of people of different nationalities. According to estimates, the residents of Brampton represent more than 200 cultures and speak 89 different languages. East Indian, Canadian, English, Jamaican, and Scottish are the top 5 ethnic groups in Brampton. Also, Brampton is considered as a ‘young city’ as its largest population cluster is 30-49 years of age.

High Quality Living Amenities

New luxury homes

Brampton is known as a city that offers high quality living to its residents. There are over 850 parks in The City of Brampton. The city is host to a number of shopping malls where you can find the best products from around the world. The city is known for showcasing some of the finest arts and cultural activities in Canada. The Rose Theatre is famous not only in Brampton but also in Canada and North America.

Reliable Transport System

Transport

Brampton scores brownie points for its reliable transport system which includes CN’s largest intermodal facility in Canada and vicinity to some of the most extensive highways in the GTA. Toronto’s Pearson International Airport is easily accessible from Brampton, and it connects the city to destinations all over the world. Brampton’s transport system also includes Brampton Züm, an effective bus rapid transit system that transports you from one part of the city to another in no time.

Good Educational Facilities

Educational facilities

If you have children, or are planning to start a family in the near future, you can rest assured that you will have a lot of high-quality schools and colleges to choose from. There are over 130 elementary schools and 20 high schools in Brampton. The city is also home to Sheridan College Institution of Technology and Advanced Learning and Algoma University’s Brampton Campus. 

The quick pace of development in Brampton with its diverse population makes it one of the most preferred places to live, not only in the GTA, but all over Canada. Experts have predicted that Brampton will become one of the most developed cities in the times to come. If you’re thinking of buying a home in the GTA, Brampton is a great option for you.

7 Steps to Buying a Home

Home buying is easily one of the biggest financial investments for a majority of Canadians. Whether you are a first-time homebuyer or have bought properties before, investing your hard-earned money in buying a new home is always a bit daunting and it's only natural to feel overwhelmed. However, it's your responsibility to do thorough research about all the aspects of the homebuying process before you sign on the dotted line. In the following paragraphs, we will take a look at 7 steps of the homebuying process that will not only educate you, but also make the whole process seem less tedious.

Analyze need

•    Analyze your needs
When it comes to buying a home, there are a number of options that you can choose from, including single-family homes, townhouses, luxury condominiums, and multi-family buildings. To ensure you choose the right option, it's necessary that you analyze your needs. Do you have kids or are you planning to start a family n the future? Is the neighbourhood to your liking? Will you be able to live comfortably in a condo? You need to have clear answers to these questions before you begin scouting for your new home.

•    Determine how much you can afford
Experts always advise homebuyers to know how much mortgage they can afford before looking around for properties. You need to do a thorough analysis of your income, debts, and future liabilities to know how much mortgage you can pay off without missing on a single payment. It's very tempting to settle for the best home in the market, but you need to think pragmatically and choose a home that's within your budget.

Budget for buying new home

•    Get pre-approved for a mortgage
When it comes to buying a new home, the price ranges can be quite extreme. Therefore, it's advisable to get yourself pre-approved for a mortgage before you start scouting for your dream home. To get pre-approved, you will need to provide certain documents to a lender. Based on your credit score and disposable income, the lender will pre-approve you for a certain amount. The benefit of getting pre-approved for a mortgage is that it narrows down the range of homes that you should be looking at.

•    Seek the assistance of a reliable real estate agent
With the help of a real estate agent, you can get access to deals that aren't easily accessible to the public. A good real estate agent will help provide you useful information about the property and even help you with the whole purchase process. Experienced real estate agents have a good working relationship with sellers and they can negotiate a deal for you.

Settle a deal

•    Settle on a deal
After your real estate agent has shown you some really good properties, it's time you arrive at a decision. Again, it's important that you thoroughly research all the aspects, including the reputation of the contractor, vicinity to schools and shopping centers, neighbourhood character, and public transport. Work with your real estate agent and negotiate a fair offer that's comparable with the prevailing rates with similar properties in the neighbourhood. After you and the seller have reached an agreement, the home will go into escrow.

•    Obtain a home inspection
After the home has gone into escrow, an inspection of the home will be carried out to check for any structural damages or repairs that the seller may need to make before you close the deal. If the inspection reveals the need for any repairs, the seller is obligated to do the needful. You can then have a walk-through the house to ensure everything has been taken care of.

Closing the sale

•    Close the sale
If the home inspection is satisfactory or if the seller has made the required repairs, you should be ready to close the sale. You will need to need to go through a lot of paperwork in this stage. Your lender will also get the home appraised and get the title search done. After these important procedures are completed, you reach the stage where you are ready to move into the home of your dreams!

These were a few steps that are involved in buying a new home. We have provided you with a primer on what you can expect when buying a new home; the actual process can be a lot more elaborate than this. Being well-informed about the whole homebuying process can help you make a better decision and ensure you avoid the pitfalls that many homebuyers encounter during the process.

Modern Interior Design for a Sleek, Spacious Look

Interior design plays an important role in enhancing the appearance of your home. Beautiful interior designs can lend a certain level of character to your home and leave an indelible impression of everyone. The quality of your interior design can really make your home stand out from the rest, and create a setting that reflects your personal sense of style.

The innovation in technology has brought a sea change in our lifestyle, especially for those who live in the urban areas. The profound transformation in lifestyle has created a need for a sleek, functional and custom home designs and that’s why modern design has come to the forefront. Today, a lot of home owners want a simple and organized space that is free of the shenanigans that are associated with traditional interior designs.

Interior Design

 

Shape & Design Elements

One of the characteristics of modern interior design is that ‘less is more’. Modern design does away with clutter or chaos and focuses on creating a simple, spacious space that complements the modern-day lifestyle of working individuals. It uses basic geometry, such as curves and angles to create an ambience that is minimalistic, open, and free of any nuances, providing ease of access and increased functionality.

 

Sustainability, the hallmark of modern furniture

Sustainability is an integral part of modern furniture and every designer keeps this aspect in mind while creating a modern design. Modern furniture is sleek smooth, and uncluttered, and its primary purpose is to last for a long time rather than creating a strong impression with an intricate design. The focus is also on providing a comfortable space where one can not only spend leisurely time but also work from home if the need arises.

 

Accessories have a unique appeal

Accessories for home decor

 While modern design is all about having a space that is sleek and spacious, accessories, especially art pieces with a unique appeal are used to accentuate the look of modern interiors. Modern designers carefully choose art pieces that are minimalistic and don’t become a focal point of attention in a room. The aim is to create a setting that is holistically pleasing rather than dependent on a single striking aspect.

 

Dramatic Effect of Colors

Modern designers use effervescent colors to create a lively, vibrant setting. Usually, they use neutral shades of gray, brown, blacks, and whites for floor covering, while bold colors, like red and green are used to create a visual contrast for walls.

Modern design is more popular among city dwellers as it complements their lifestyle. People living in condos prefer modern interior designs as it gives an impression of a larger space. Working professionals who do not have the time to clean or vacuum their homes every day are also better off with a modern design. However, families with young children might need to make a few adjustments before adopting this style. A consultation with an experienced modern designer can help you create a customized design that includes your specific needs and goals.