Supply And Demand
More Than Meets The Eye
The new home industry is comprised of a myriad of suppliers, consultants and a broad cross-section of businesses that collaborate to deliver your new home. From architects and surveyors to estimators and interior designers, every new home community requires input from experts specializing in various disciplines. This comprehensive team effectively and efficiently plans and executes every element. The process will often take place a year or more before you ever step foot into a sales office – and while the effect of what these professionals bring to the table is evident in the finished community, often their work goes on out of sight and behind the scene.
Each new home and condo has a positive impact on the economy. In fact, in Canada, the new home industry is the largest overall contributor. From initial stages of development to the construction of every new home, there are hundreds of people employed who ensure that every detail is addressed.
Those looking for their first home and long-time homeowners are likely unaware of the extent of the back-end planning that shapes your new community. By the time you sign an agreement of purchase and sale, the big picture has been sorted and things are well underway. However, there’s still a chance that your occupancy date may be delayed. Much like the initial planning stages, construction requires the coordination of many trades and suppliers, and most delays are unavoidable.
Interruptions in construction schedules may occur due to inclement weather. For instance, concrete can’t be poured and cured in extreme temperatures. Excessive snow and rainfall may also be a factor. On the other hand, delays may also arise due to material or labour shortages. In the case of any delay, your builder is responsible to keep the lines of communication open and let you know what to expect. As a new homeowner in Ontario, you’re protected by TARION and the rules outlined under the Ontario New Home Warranties Plan Act. When purchasing a new home or condo, you’d be wise to make yourself familiar with this coverage by visiting www.tarion.com.
It’s also helpful to know that some features of your new home or condo might not be complete when you move in. While you would never be expected to move into a new home without essentials in place, some items that won’t directly impact your quality of living may not necessarily be complete.
For highrises, often common areas and sometimes amenities aren’t finished at the time of first occupancy. Corridor carpet isn’t typically installed until occupancy is almost complete, to avoid potential damage caused by so many moving in. And, it just makes sense that the yards of new lowrise homes that close in the middle of the winter will not be sodded until the spring.
It’s key to remember that new homes and condos have more benefits than initially meet the eye – including better construction with state-of-the-art building envelope design, high levels of insulation and energy-efficient appliances, heating and air conditioning systems – often which make delays easier to handle.