Not all new builds are created equal…

If you’ve been in the market for a new build or even newly renovated or partially rebuild home, chances are you’ve come to realize that not all new builds are created equal. The rush to complete new construction projects on time and under budget often comes at the expense of quality, details and design. What to look for is not always obvious when embarking on the house hunt for a new build.  How can you be sure you’re getting the quality you’re paying for? Check out our buyer’s guide below to learn how to spot a quality build and assess its value. 

1) Lot size   

Lot width is one of the main criteria for evaluating the value of a new build home in Etobicoke. There will often be significant differences in the size of the house on 30 foot lot versus one on a 50 foot lot. Though a difference of 10 or 15 feet seems trivial, it can often mean the difference of significant square footage as well as layout and spaciousness of the rooms. Not all new builds are huge, but larger homes with a wider footprint, will demand a higher price.

Updated information and expert guidance are vital when deciding between newly renovated homes or new-builds. The following resources will help you proceed with confidence:

• The Pros & Cons Of A New Build Home vs A Fully Renovated Older Home 
• Top Secret: 3 Traits You Didn’t Know You Needed in a Realtor
• How To Evaluate A Good Fixer-Upper in Toronto’s West End

2) Quality of interior finishes 

Most often, this is the largest item that affects price point.  The quality of interior finishes is not just about the final cost of the items themselves, but also the craftsmanship and the installation.  All too often we see beautiful pieces hastily installed or even improperly installed, driving down the value of a renovation or a new build.  The old saying ‘if you’re going to do something, do it right” is very much applicable when it comes to new builds.  A buyer for this type of house is not looking to fix previous shoddy workmanship.  These homes are expected to be move-in ready and problem-free for the foreseeable future. In addition to the installation, the quality comes into play. Expensive tile, custom kitchens and bathrooms, etc. all have added value when designing a new build.  There is a time and place for big box store kitchens, however when starting from the ground up, it’s ideal to put in the time and effort for customization and sourcing quality finishes – the buyers will notice.  When investing in a new build, pay close attention to these interior finishes as the quality and installation are likely indicative of the investment of the overall build. 

3) Bells and whistles 

It’s easy to be swept off your feet by incredible amenities such as a pool, a wine cellar or even a car lift, however, these are all luxury amenities that definitely come with a cost, as well as a future up-keep cost you have to plan for.  When presented with these incredible amenities, it is wise to consider if these are things you truly need and will use enough to make them worth the investment.  Sometimes we come across homes with pools that have been filled-in as the upkeep is quite hefty and many times is not worth the effort if no one is using it. As noted above, these are luxury amenities and depending on your lifestyle, these can be extremely valuable and important.  Keep an eye out for this type of bonus amenity, these show-stoppers can also distract from less than perfect renovations elsewhere in the home.  

4) Basement height  

A brand new or an underpinned basement is a huge bonus that creates another truly comfortable living level. Not all new builds will have a brand new foundation for a basement.  Many renovation projects in Etobicoke leave the footprint of the original house as a basement, as it is much more cost-effective and not necessary to replace if the original foundation is in good shape.  A basement underpinning is a massive endeavor with a high price tag. A new build with an underpinned or brand new basement will have a higher price point than an identical build with just the original footprint and low ceiling height as the lower level.  A good basement renovation will have high ceilings, adequate waterproofing and a solid foundation.  

Why choose the West End? Here are a few reasons:

• Everything You Need to Know About Living in Toronto’s West End!
• Top 5 Reasons to Nest in The West 
• 3 Reasons Why We Love Condo Living in the West End!

5) Location and budget 

A new build doesn’t always mean a sky high budget.  There are a wide variety of price points for this type of home.  In Etobicoke, new builds vary from mid-range to high end.  Many homes in this area are considered Victory houses, built just after the war in the 1950’s. The lot sizes for these houses are larger than those closer to downtown, allowing for larger new builds to be established within the original footprint.   

Do you have your eye on a new build in the West End? We can help you get on the inside track on some of the latest developments. Reach out to us at 416.909.1602 or email hello@getnested.ca for more information.

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