How to Add Lavish Charm to a New-Build Home
The influx in new construction is great, but it can also mean that sometimes luxury new-builds have a similar feel to them, particularly when they’re all built in a single neighbourhood. If you’re like most buyers, you want your home to stand out and have character, whether it’s a rich, old-world feel or a contemporary opulence. Here’s how to make your new-build stand out: Upgrade your finishes. Elevate your home with luxurious finishes in the kitchen and bathroom, or anywhere you want a little more upscale character. Think marble countertops, hand-scraped hardwood flooring, lush carpet in the bedroom or brass fixtures in the bathrooms. Opt for statement lighting. Great lighting has two perks: the right lighting can make a room seem bigger or more opulent, while the light fixture itself can add an element of character. Instead of sticking with boring track lighting or a standard flush mount, look for a chandelier or pendant that makes a statement and incorporates beautiful materials. Look at unusual architectural features. Nothing says boring like a cookie-cutter layout. Dress up plain walls and ceilings with some extra features, such as coffered ceilings, crown molding or wainscotting. This can be done after you move in, but if you’re buying pre-construction, you may also be able to negotiate some of these with the builder. Don’t forget that your furnishings will also help set the tone in a home. By decorating in a style that speaks to your values and aesthetics, you can help your new home feel like a true luxury retreat.
Buying New Construction vs. an Older Home
While the market in Canada continues to grow, everyone is searching for the best deal possible. There are a lot of factors to consider when it comes to buying a home—a big one is if you should purchase an already built home or go for new construction. Here are some factors to consider: Upfront CostThis is obviously the biggest factor for anyone when buying a home. Your budget will only allow for a certain price—and this is where older homes win out. They are more affordable per square foot and the price is negotiable, which can be a good thing, but can also work against you if you end up in a bidding war. New homes are sold at a set price, cost more for less room, and are charged GST and HST (Goods and Services Tax and Harmonized Sales Tax), which will either be charged upfront or added into your mortgage price depending on your builder. There is a partial rebate available on this if your home is valued at less than $450,000 before taxes. There is also the fact that move in dates are flexible for older homes, while a new construction may face delays, potentially leaving you stranded until it is completed. Maintenance and RenovationThis is a big one when buying an older home. With new construction, you are in complete control and can build the home up to modern standards to help avoid any potential problems, and avoid the cost of renovations and any serious maintenance for years to come. Also, when the time comes, the repairs will likely be covered under warranty. But that is also why a new construction will cost you more. It’s up to you to decide if the upfront savings of an older home will be worth it in the long run, once you factor in any potential renovations and upgrades required. Older homes are more likely to have problems with essential parts of the home, such as having to rewire, which can cost a significant amount of money. Location and Neighbours.A resale will be in an established neighbourhood with all the amenities you will ever need nearby, and you will know the vibe of the neighbourhood as it is already long established. New constructions are usually in a suburb that is still growing and establishing itself. You will likely have a longer commute to amenities and may have to wait for roads to be finished and the neighbourhood to be established. Although these communities are usually built with a specific demographic in mind, such as young families, a new community with a completely different target could pop up just down the street.
What Most People Get Wrong About Penthouse Living
Penthouses have a certain appeal to them. From 24/7 concierges ready to welcome you home, to dazzling views and panoramic windows, many a buyer sees a penthouse unit as the key to an elevated urban lifestyle. And while penthouse living can be a dream come true, it’s not without a few items to be cautious about. Here’s what some buyers forget about penthouse living. You might have to take a long ride. While luxury condo units can often be found on any floor in a condo building, a true penthouse unit is often on one of the higher floors, usually the very top. While this might not be so bad in a low-rise building, taking the elevator to the top of a skyscraper can be a pain. Plus, if you have to take the stairs for any reason, say in an emergency or if the elevators are down, you’re in for a hike! Your condo fees will likely be higher. Condo fees are usually calculated based on the square footage of a unit. With penthouses, which are usually the largest suites in the building, you’ll be paying a hefty amount every month, on top of taxes and mortgage payments. Since condo fees cover the amenities, make sure the ones in your luxury building you’ll get use out of, otherwise, you might not be so excited about paying for other residents’ amenity use. High floors mean high winds. Depending on what level your unit is on, you might find the winds at high altitude disruptive. If your building is in a dense corridor with lots of high-rises, the wind tunnels could make this even worse. At worst, it may make your balcony or terrace unusable on all but the hottest days.
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