Question: Why should I buy instead of rent?
Answer: An investment in homeownership is an investment in your future. Not only will you build equity in your home over the years, you will be putting money back into your pocket rather than someone else’s.

Question: How can I find out what my home buying budget should be?
Answer: You should sit down with a qualified professional before you start the process.
There are many factors to be considered when setting your new homebuying
budget and a trained professional will be able to guide you. Landmart Homes
works with TD Canada Trust who not only provide protected, capped mortgage
rates to Landmart purchasers but also offer free consultations and financial
guidance. Visit TD Canada Trust through the linc provided under Mortgage
Calculator or visit the Canadian Bankers Association website. It offers two
Helpful brochures called Mortgage wise and Managing Money – www.cba.ca

Question: How much money do I need to buy a new home?
Answer: In Ontario you can put as little down as 5% of the purchase price, providing you qualify for the monthly payments. A total down payment less than 25% of the
Purchase Price is considered a “high ratio” mortgage and is covered by CMHC
(mortgage insurance). Your lending professional can explain how this works or
you can visit the CMHC web site at
www.cmch-schl.gc.ca/en/bureho/moloin/index.cfm

Question: What is Tarion?
Answer: Tarion provides warranty protection to all new home buyers under the Ontario
New Home Warranties Plan Act (the Act). All builders are required to be
registered with Tarion and all homeowners must be enrolled with Tarion.
Coverage under the Act includes deposit protection, protection against defects
in work and materials, protection against unauthorized substitutions, and
protection against delayed closings or delayed occupancies without proper
notice. For more information on Tarion visit their web site at www.tarion.com

Question: How much time do I get to review the contract?
Answer: When purchasing a condominium of any kind there is a 10 day rescission period
for you to review all documents. When purchasing a freehold property of any kind
the contract is legal and binding the day it is signed unless it is written conditional
on financial approval or lawyer approval. Most reputable builders will provide
this condition for 5 to 7 days upon request.

Question: Do I need a Real Estate Agent to buy a new home?
Answer: Most builders have qualified professionals on staff to help with your new home
purchase. If you have an existing home to sell you will want to consult with a Real
Estate professional in your area for expert advice on selling your existing home
but it is usually best to rely on the builders experts when buying a new home from
a builder.

Question: Why buy a new home over a resale?
Answer: Over the past ten years building code requirements for air quality and energy
efficient materials in new homes construction have made buying a new home a better investment than ever; for your health, your pocket book and your lifestyle. A new home provides years of maintenance free living with no concerns of replacing or repairing expensive items, there are no surprises with a new home and you get to personalize your new home by selecting all of the finishing touches.