Located on the north side of Fredericton off Brookside Drive is Brookside West, a beautiful, fast growing, family neighborhood. This prime development is within close proximity to all local amenities (Two Nations Crossing, Brookside Mall, Willie O’Ree Arena, West Hills Golf), schools and minutes from downtown Fredericton.
• Wooded lots available
• Quiet Atmosphere
• Restrictive covenants to protect your investment
• Court lots available
• Near the new West Hills Golf Course
• Kindergarten to Grade 5: Nashwaaksis Memorial School
• Grade 6 to 8: Nashwaaksis Middle School
• Grade 9 to 12: Leo Hayes High School
Single Family Lots start at $67,000.00
To book a Discovery Session and start planning your new home in Brookside West, call Jason today at 506-292-2169 or email email@example.com.
Nestled in the heart of the city of Dieppe, you’ll find Notre-Dame Estates. This prestigious development is in a prime location with close proximity to local amenities, schools, Rotary St-Anselme Park, Arthur J. LeBlanc Centre (Arena) and the Dieppe Aquatic and Sports Centre. Notre-Dame Estates is an outstanding family community to call home.
• Wooded lots available
• Restrictive covenants to protect your investment
• Prime court lots available
• Fox Creek Golf Course nearby
• 3 acres of natural park
Kindergarten to Grade 5: Lou MacNarin
Grades 6 to Grade 8: Lewisville Middle School
Grades 8 through 12: Moncton High School
M – 5e année : École Anna-Malenfant
6e – 8e année : École Carrefour de l’Acadie
9e – 12e année : École Mathieu Martin
Single Family Lots ranging between $59,900 and $84,900
To book a Discovery Session and start planning your new home in Notre-Dame Estates, call Pierre today at (506) 871-5237 or email at firstname.lastname@example.org.
Location: Just Off King George Highway, Miramichi, NB
Welcome to Gretna Green Subdivision. This executive neighbourhood boasts underground power, fully serviced lots, curbs, and excellent location.
Elementary: Gretna Green Elementary
Middle: Harkins Middle School
High School: Miramichi Valley High School
Amenities: shopping, schools, banking, medical centres
Lot Prices: starting at only $33,500.00
To book a Discovery Session and start planning your new home in Gretna Green, call Andrew today at 506-251-1681or by email email@example.com.
In the run of an average week, I usually field a question or two about natural gas as a fuel heat source for new construction. In my previous life, I sold homes in Ontario where natural gas was the standard. Here in NB however, that is not the case. In fact, the amount of our clients who choose a natural gas heat system is declining year over year. I feel that there are 2 major reasons for this.
1. Your Neighbour Probably Doesn’t Have Natural Gas
I’m going to use the Toronto Area as an example because it’s one that I know best. The GTA is similar to many urban, developed areas of Canada in that there is a long established history of natural gas usage. In fact, according to Statistics Canada as of 2011, 50% of all homes in Canada were heated by natural gas. I have been searching high and low for stats on NB homes heated by natural gas but can’t seem to find any (if you do, please send them my way). That said, there are drastically fewer homes in NB heated by natural gas than in many other Canadian cities.
There is a high cost to delivering natural gas to our region and that delivery cost is being absorbed and shared by a small number of customers (myself included). The smaller the base of consumers, the higher the cost. As such, I am paying a much higher rate for natural gas in Moncton, NB than I was in Oakville, ON. With natural gas rates staying where they’re at and often rising, many of our clients are option for the alternative of ducted air-to-air heat pumps which offer a similar upfront cost but keep power rates low throughout the cold season.
2. If You’re Building In A New Development, Natural Gas In Likely Not On Your Street
According to Enbridge NB’s website:
“New pipeline is built when there is sufficient demand in an area and where the economics ensure that the capital costs are covered over the long term.”
Looks promising enough. When I called EnBridge to ask what constituted “sufficient demand” and for more information around the aforementioned economics, they asked me to complete a one minute questionnaire so that they could put me on a wait list. I was told that as soon as enough people in my area were on the wait list, they would then consider extending the pipeline to the street. They couldn’t tell me what number of homes would constitute “enough”.
This process is not terrible if you are considering a renovation or conversion however, if you are building new construction, the very nature of the process is problematic. Because EnBridge is requiring a “sufficient” number of homes to agree to be natural gas consumers, the assumption is that people on the list can/will wait until the list is full. When it comes to custom home construction in a new development, it is highly unlikely that homes 1-8 on the list (for example) will wait to build their homes until that 9th person agrees to use natural gas and fills the demand requirement.
Instead, homes 1-8 will proceed to stay on schedule… and that guy who could have been home 9, is back to square one. (Please note that these numbers are for illustration purposes only and were not provided by Enbridge).
I personally would LOVE to see more demand for Natural Gas in NB. This would not only offer our clients more choice in their heat system but, eventually, they would more competitive rates. Are you considering natural gas as a conversion or as a new construction home? Why or why not?
It’s no secret that building your dream home CAN be stressful. Let’s face it… we all have that friend who experienced a horrific homebuild. Some of the stories we’ve heard are enough to make anyone want to bury their head in the sand and forget the whole idea. That said, while homebuilding can be stressful- it doesn’t HAVE to be.
In anything, a team is only as strong as it’s weakest link. So you need to think long & hard about your design/build team and make sure that they are not your weak link. You’re the client & you don’t build homes for a living. YOU should be the weak link! You cannot compromise when it comes to hiring your builder….
Are they organized or is their truck piled with papers and files on the floor?
Are they taking notes on their burger wrapper? Do they respond to your questions in a timely manner or do they wait until you’re ready to file a missing person’s report before getting back to you?
And. most importantly, are they stressed out and out-of-control? If they are, it’s likely that your build will be too! Your experience will only be as great as the people that you trust to manage it. This is the single most important choice you will make throughout the entire build.
Before buying into this myth, you have to ask yourself WHY you want to build a custom home. Really, WHY? Building a custom home means expressing all of your ideas, dreams and passions and watching them literally grow into the absolute perfect home for you! If that doesn’t excite you, then you may be better suited to buy resale and be on with it. Building a custom home will take anywhere from 4-7 months in Atlantic Canada depending on a few variables. Consider how long you’ve spent planning and thinking about your dream house… for some of people (*cough* me *cough*), planning started when they were just a kid! A custom home is more than just a house… it’s already a home- before it’s even started. Isn’t that worth a few months of your time?
Ahh, yes. The classic over-budget myth. Last month, we wrote a post titled 4 Signs That Your New Build Will Go Over Budget
because we know that it IS possible to stay on budget. In fact, there are builders out there who do not go over budget at all- the trick is finding them. Builders who stay on budget accurately price the house in the first place. They ask you questions about specific items in the home (Think: doorknobs vs. levers) & they “get” your vision. If you’re thinking “Four Seasons” and your builder is thinking “Holiday Inn”, you will go over budget. That’s why it’s a MUST that you and your builder/designer are on the same page from Day 1.
Closing is important. After all, who wants to show up with a moving truck and find their new home unfinished? Delayed moves, extra costs, stress and safety are just some of the possible outcomes of not finishing the new home on time. That said, closing a new home on time does not require the Delorean… The requirements to closing on time include “fancy” things like a scheduling system for tradespeople, an experienced project manager who can solve problems on the spot and an organized, clear communication system. Not sure if you’re builder has these systems in place? Then ask for references! Past clients are often more than eager to share their experience with you (good or bad).
What else have you heard about home building? Let us know- we LIVE to show people that bad practice in our industry doesn’t have to be the norm! Comment below or tweet us @martellhomes.
Welcome to 32 Gambia in Moncton North!
This rare 3 bedroom semi-detached home is located off Ryan Road, minutes away from the new Casino, and includes the following spectacular features:
· 18X20 Attached Garage!
· Large walk in closet
· Upgraded trim package with Boston headers
· Modern kitchen with island and dark wood cabinetry
· 10X12 deck with 6 foot privacy wall
· You choose your own custom finishes!
· 1 and 1/2 Bath
· 10 Year Home Warranty
Photos of a similar, completed unit: http://themartellexperience.com/semi/101-mathias-dieppe-nb/
To view this unit please contact Natalie today @ 506-232-1276.
If you’ve got a ton of questions about buying your first home, you’re not alone. Join @RBC_Canada and a panel of 5 experts (including us!) for the #FirstHome Twitter chat, on June 26 from 9- 10 pm. Get answers to your most confusing questions and a chance to win RBC Visa Gift Cards!
Financing a new build – it seems so confusing! With terms like progress draws, turnkey, demand loans, deposits and downpayment floating around, it’s no wonder that first time buyers have lots of questions.
The best way to avoid complete overwhelm and to choose the right mortgage for you is to arm yourself with as much information as possible. The right mortgage will save you money, stress, time and risk!
Step 1: Get Pre-Approved
Getting pre-approved for a mortgage should be your first step toward building your home. A pre-approval will provide you with specific information about your budget and purchase. The mortgage professional that you choose will consider personal information such as credit score, income, down payment and more.
By engaging in a pre-approval, you will get an idea of how much the bank will lend you and at what rate of interest. A great professional will also advise you if there is anything that you should do before actually engaging in a purchase contract to help improve your credit score.
A pre-approval is the perfect place to start your process because it will provide you with an idea of what you can afford and will allow your builder to have some clarity regarding the budget and scope of your project.
Step 2: Determine The Type Of Mortgage For You
While any mortgage professional will talk to you about the advantages of open vs. closed mortgages, rates, terms and amortization periods, your builder will need to know if you’re planning on doing a turnkey contract or a construction draw contract.
In a turnkey building contract, your builder agrees to build your home as per the specs quoted & finishes selected by you. Financially, you are only required to pay an initial deposit up front and the balance is due on closing- very similar to the type of mortgage you would place on a resale home. This type of project is much easier for clients and usually results in a lower rate of interest on the home.
During a turnkey build, your builder will hold title on the land.
CONSTRUCTION DRAW CONTRACT
The term “construction draw” refers to the process of paying for your new home. When you are building in a construction draw contract, your builder will usually require 3-4 construction “draws” (draws= payments) throughout the construction of your home.
Typically, your builder will collect invoices from trades for work completed & will request a draw from you. You will contact your lender who will then require an appraisal of the work completed to date before releasing the funds.
During a construction draw build, you will hold title on the land.
Typically, it is much easier & less stressful for clients to engage in a turnkey build. Just be sure that your builder is financially strong enough to offer this option.
Step 3: Bring In The Builders
The third step in your home financing adventure is to bring in the builders for quoting. This process can get a little confusing for homebuyers who are looking for the most value for their money. Your builder should be able to provide you with a quote on the home as well as a comprehensive list of what is included in that price. If one builder is missing some items in their quote, makes a mistake or underestimates allowances, their quote will look much lower than their competitors at first glance.
When comparing quotes, be sure that you are always comparing apples to apples. Does one builder have a higher kitchen budget built in? Is the lower priced builder pricing very basic/entry level finishes? It is crucial to your budget that your builder understands your tastes and has priced in the level of home that you’re actually looking for.
Once you’ve settled on a builder and a price, you will sign an Agreement Of Purchase and Sale which will outline all of the terms and conditions of your build.
Step 4: Financing Approval
Many first time buyers confuse the terms “pre-approval” and “approval”. While the pre-approval is very important to your process, your lender cannot actually approve your financing until they have the details of your project. To give you an actual financing approval, your lender will require a copy of the signed Agreement of Purchase & Sale, the house plans, and the building specifications provided by your builder. The lender then confirms that the proposed home will appraise for the purchase price that you agreed to.
(No lender will finance a mortgage that is greater than what the home could sell for).
Once the lender is satisfied that the borrower and the proposed property meet all of their conditions, they will forward a letter of financing approval. Yay! This very exciting step in the project usually signifies the beginning of construction.
Step 5: Staying On Budget
Financing has been approved and construction is underway… unfortunately, your job is not over yet! Now, it is crucial that you stay as close to the original purchase price as possible. A client who decides to add $40,000.00 in upgrades may get a terrible surprise at the end of the project if their bank is not able to qualify them for this increased price or if the home doesn’t show the increase in value.
This is why it’s important that your builder is accurate in Step 3 when pricing the home. A few extra surprises and you can risk your financing and your budget.
Step 6: Closing
Ah Closing Day… you made it through construction & your home is finally complete. At this juncture, your builder will settle up any differences from the original purchase price through your lawyer. Perhaps you came in under budget? You’ll be getting a cheque on closing day. Or, maybe you decided to add a few items during construction? These will be added to your purchase price & mortgage. Ensure that you’ve engaged a lawyer who is competent in real estate law to manage this transaction seamlessly.
Building a new home can be overwhelming but it doesn’t have to be. Do your homework and ensure that you are working with the very best professionals in their fields to make your experience as stress free as possible.
Disclaimer: This post content is sponsored by Royal Bank of Canada, however the views and opinions expressed herein represent my own and not those of Royal Bank of Canada or any other party and do not constitute financial, legal or other advice.
2011 has been an interesting year for new housing in Moncton. Depending on who you ask, and what segment you are looking at, the market has seemed either good or bad.
When looking for housing data, we frequently turn to the Canada Mortgage and Housing Corporation (CMHC). CMHC is Canada’s national housing agency. While they are perhaps best known for providing mortgage loan insurance, they also are a leading source of housing data, and one of the first places market researchers turn to when looking at trend in the real estate market.
Each quarter they release a quarterly ‘Housing Now’ report for various cities across Canada. The report provides insightful analysis of local housing markets and a summary of housing statistics, including starts, completions, dwellings under construction, absorptions, real estate sales and home prices, as well as key economic indicators.
Here are some of the CMHC highlights about the real estate market in Moncton:
New multiple starts (i.e. apartments, condos and row houses) recorded a substantial decline of 29.5 per cent a year-over-year decline during the second quarter of 2011. New rental starts were particularly week, with just 24 new apartments breaking ground in the Moncton region. This compares to 151 apartment starts in the region during the same period in 2010
Semi-deatched starts did significantly better. After a slow winter, they rebounded during the second quarter, with 184 new duplexes getting underway—a 19.4% year-over-year increase. While semi-detached homes remain the starter home of choice in Greater Moncton, a growing number of these new units are being built with increased amenities and commanding higher prices.
Single-family home starts were a mixed story during the second quarter, While parts of the region—notably Moncton and Riverview saw notable increases, they were more than offset by fewer starts in the rest of region. As a result, single family starts were down 7.6% during the period. Despite the fewer starts, however, the average price of a single-detached house was up 5.2 per cent to $265,634 over 2010.
You can download the full report from the CMHC Publications and Reports page.
We received the following letter last week from a client who is going through the home building process with us. We were beyond touched by what they had to say and the letter reminded us exactly why we build homes. Thank you.
A house is built with Boards and Beams
A “Home is built with Love and Dreams”
Last fall everything I knew changed. My marriage fell apart. I found myself all alone with no family for comfort and support. The only one I had was my dog. She is the reason I got out of the bed in the morning. When your world falls apart you have to find the strength to start over. I moved into a condo, I realized quite quickly this was not a place for me start over.
After 6 months I moved again. The landlord seems really nice, he was more than happy to have the place cleaned and he even said he would have ceramic tile installed in the bathroom, and entreway. When it was time to move in, he had not cleaned anything. The place was unreal. The rugs are so dirty, Previous tendents had 7 cats here at one time.The toilet doesn’t flush in the basement, my stove only has 2 burners that work. The fridge is missing the middle shelves. The cranks are broken and there are no screens on the windows that do open. I painted every room on the main floor hoping I could get the smell out, I thought I could make this a home. When I told the landlord my concerns he told me there are different levels of cleanliness and if I didn’t like it I could move out. So I had 6 months to find myself a place to call home.
I went on MLS listings and I started going to open houses. I viewed a couple of different builders, and the quality was not there. The last open house I went to was the Martell Semi on Coriander St.
I met Pierre and he explained how the process worked. He made it sound so easy to get affordable housing, hassel free. It sounded too good to be true. You only hear about the problems that people have with their builders. After speaking with Pierre I went home and I really thought about what I needed in my life.
I needed a new home. A place to build memories, a place to feel safe, a place to be proud of. You never really feel settled when you don’t have a place to call home, I called Pierre and we started the process of building my new home.
I am so looking forward to moving into my new home. I can’t wait for Thanksgiving, now I have something to be thankful for. Christmas, oh it is going to be the best ever. Last year was the worst, I had no tree, no decorations, no roaster to cook a turkey, I spent most of the holidays by myself and it was so lonely. This Christmas is going to be perfect. I am going to have a new “HOME”, new traditions, a new chapter in my life.
This is the start of my New Beginning, with love, laughter, family and friends. Thank you Pierre for making me feel safe to go ahead with my dreams.