Builder Homes

 
When purchasing a new home from a Builder, you should be aware that there will be extra costs involved. These costs may not be clearly set out at the time of entering into the contract. We recommend that you clarify these charges when negotiating your contract, if they have not already been predetermined. The following are some of the typical adjustments you will find in a builders Agreement of Purchase and Sale:

    * Ontario New Home Warranty Program enrollment fee
    * Educational lot levy
    * Driveway paving
    * Hydro and Water Meter installations
    * Tree planting
    * Subdivision damage deposit
    * Subdivision grading deposit
    * Legal fees relating to any mortgages arranged through builder
    * Vendor's lawyer insurance levy surcharge
    * HST on extras and appliances
    * Realty tax deposit
 

Caution on statement of adjustment

These adjustments can add several thousands of dollars to your closing costs and if not properly reviewed and capped by your Lawyer the final amount can not be known or controlled!