Tips to Moving into a Newly Built House
You have finally purchased your newly built house and are ready to move in! Your new home can feel like a blank canvas that is waiting for you to add your personal touch, after all you are the first person in this new home to make this space your own.
Here are a few tips to help you get more comfortable in your new home:
Make sure you have a packing and unpacking plan. According to Echo Jones, Tips for Moving into a Newly Built House, pack efficiently so you can simply put boxes in specified rooms on moving day. Consider using colours to label boxes and such to help movers know where everything belongs.
Change your address. Prior to your move make sure you filled out the “change your address” form with your local post office. Make sure to share this information with your utility companies, credit card companies and any other bills you receive on a regular basis.
Turn on utilities. Jones says unlike existing homes where you might have some wiggle room as the utilities switch from the previous owner to you, you must call utility companies to schedule a start date for both billing and service. Many TV or Internet providers won’t establish service until you’ve legally taken possession.
Cover your floors. Moving can make a mess or worse damage your new home. Jones says it’s important to put down plastic or heavy-duty butcher paper or even some old throw rugs on the main walkways in your home to protect it from foot traffic and moving-related damage.
Move in furniture first. Furniture, especially the larger pieces are easier to move without boxes and assorted household items in the way.
Meet the neighbours. When you are new to the neighbourhood, don’t be afraid to knock on your neighbour’s doors and introduce yourself! In a brand-new subdivision, odds are your neighbours are new to this part of town or brand new to the area so it would be great to get to know someone in the exact same situation as you.
Explore your neighbourhood or new town! Drive around, discover the location of some great local restaurants, shopping spots or even some local boutiques. Stay up to date on local events or things happening, it’s the best way to get to know your new town and help it start to feel like home.
Benefits of Investing in Chatham-Kent
Over the past few years, Chatham-Kent has seen a huge increase of outside investors making the move and settling down in our community. Many individuals from larger centres see the rural area as a place with a lot of opportunity.
Its steadily growing population, waterfront locations and affordable
real estate prices make it a smart choice for any real estate
investor looking to get in on the ground floor. According to Scott
Dillingham from the Canadian Real Estate Network, Benefits of
Real Estate Investing in Chatham-Kent, there are five major
benefits that come along with investing in CK. Dillingham says,
Chatham is a location made for trade and manufacturing. Due
to the municipalities location to major cities including London and
Toronto as well as its proximity to the US border, CK has become
a very desirable location. Dillingham says, it’s a fantastic location
for anyone who wants the benefits of living near major cities, with
the charm of a small town.
Dillingham also says Chatham has a steadily growing population.
According to the 2016 census, CK’s population was 101,600 and
has recently increased to 106,000. Seven percent of the
municipality’s population is French speaking with designated French-language services. The medium age is 45 years old but has been trending older over the last decade with the largest age group between 55-59 years old. According to Dillingham, one to two person households are by far the biggest demographic, making up two-thirds of the overall housing marketing.
The Chatham Daily News says there is a good deal of secondary migration happening. Many immigrants are moving to Canada and settling in Chatham-Kent. As remote work continues to rise, we would expect to see an exponential growth in immigrants and outside community members moving to Chatham-Kent.
Chatham-Kent seems to have a relatively stable economy, with the median income hovering around $52,000 and a median family income around $62,000. According to Dillingham, the two predominant labour classes are sales and service, trade and transportation with manufacturing, retail and healthcare dominating the top industries. Dillingham says automotive manufactures are still a significant portion of the labour force to this day.
On top of the stable economy, the real estate market for Chatham-Kent has continued to soar throughout 2020 and the start of 2021. The Chatham-Kent Association of Realtors reported the average price of homes sold in April 2021 was a record $424,321, an advance of 46.8% from April 2020. It also stated that the comprehensive year-to-date average price was up by 47.7% from the first four months in 2020. The numbers are expected to climb with the general lack of inventory, outside investors and remote work becoming more popular.
Finally, Chatham-Kent is nicknamed the “Classic Car Capital of Canada,” as it is home to vintage automobile auction houses and restoration companies. Every year the annual Retrofest event brings hundreds of classic car aficionados to Chatham. In addition to the classic cars, Chatham-Kent offers a variety of outdoor recreation activities including swimming, kayaking, boating, hiking and more with the endless rivers, lakes and provincial parks spread throughout CK!
Today is the perfect day to invest in the beautiful community of Chatham-Kent with one of our stunning Magna Homes.
Average residential prices continue to rise in 2021
The Canadian housing marketing isn’t ready to slow down as the warmer weather continues to heat up the housing market. REMAX Canada states, the ongoing housing supply shortage is likely to continue presenting challenges for homebuyers and putting upward pressure on prices.
According to the Canadian Real Estate Association, from February to March
home sales climbed 5.2% to set another new all-time record. The Chatham
Association of Realtors says, in Chatham-Kent alone, 175 units were sold in
March, a substantial increase of 75% from March 2020. This was also the
highest level of sales not only for the month of March but the highest level
for any month in history. The Chatham Association of Realtors also states,
on a year-to-date basis, home sales totalled 389 units over the first three
months of the year, a gain of 37.5% from the same period in 2020.
The CKAR says, the average price of homes sold in March was a record $419,577, advancing 56.2% from this time last year. Compared to our neighbouring cities such as Windsor who have only seen an increase of 49.41% for an average price sale of $531,805, according to the Windsor Real Estate Association.
The next few months will show if these current trends will begin to stabilize or move up or down.
What you need to know about buying a Spec Home
Speculative or “Spec” homes are move in ready homes on new lots. These houses are built to keep every homebuyer in mind. The designs are accommodating and outfitted with selections that appeal to just about everyone. As many spec homes are designed to sell, they make an excellent investment property just in case you need to move in the future.
According to Henry Parker, The Homeowner’s guide to Spec Homes, there are many advantages to buying a spec home versus a brand new or custom-built home especially for home buyers who are looking to move in right away. Spec homes are usually near completion or completed, so interested buyers can move in as little as 60 days compared to the 6 months or more for a typical new build.
Parker says, many spec homes already include working options for anyone on a budget, which may be beneficial for those who don’t have the resources or time to dedicate to selecting their own designs. Magna Homes uses familiar blueprints and high-quality materials, so the buyer can enjoy savings without sacrificing the quality of their home.
Repairs and maintenance will also be cheaper with a spec home because builders already use standardized designs. When local contractors have to spend time and money locating plumbing or electrical, their cost will increase.
Crystal Tost, the Calgary Listing states, although many potential buyers may see buying spec homes as a risky investment because they are built a lot faster and constructed in mass quantity. However, spec homes are built by a team of technicians and constructors who have already spent a great deal of time working together. According to Tost, the work from one spec home to another does not differ greatly, so the teams that builds them are familiar with the task, which means future homeowners don’t have to worry about the quality or safety of the final product.
If you are looking a buying a spec home, check out Magna Homes new builds on Churchill Park Road, Chatham. Contact us today for more information.
Buying new vs old
When looking to purchase your first home or growing into a larger home there are a few things you should consider when making the commitment to a brand-new home or an existing property. As the real estate market has continued to rise, the costs of buying a new home vs old are now more comparable than they were 10-15 years go.
According to Elizabeth Weintraub, Buying New Homes or Older Homes, the biggest advantage of buying a new home is less maintenance. New construction homes are meant to outlast warranties, meaning the homeowner should not have to install a new roof, replace the water heater or repair any fixtures for 10 to 20 years. As an older home continues to age, there is always something to fix. A new build also offers modern conveniences, such as built-in dishwashers, refrigerators and microwaves. As ensuite bathrooms and walk in closets have become more popular over the years, newer homes are more likely to offer these features.
Energy efficient homes have moved to the forefront of construction over the past few years. Weintraub says, new appliances use less energy, walls, ceilings and floors of new homes are insulated and dual panel windows retain more heat in the winter and keep cooler in the summer. Many new homes are even built with solar panels. Apart from the HVAC systems, older homes that require functional or trendy updates can involve pricey kitchen and bath remodeling. As building code has changed over the years you can guarantee your newly built home will meet any municipal permits or building codes. According to Weintraub, older homes weren’t built to comply with modern safety standards, including many unsafe electrical options.
Finally, buying a new home, if not being custom built is likely to cost much less per square foot than an older home in the same location. This also means you get greater average square footage. It’s not unlikely you could see a two-bedroom home with 1,000sqft sell for the same as a two-storey 2,500sqft home in the same area.
If you are ready to make the leap in buying a brand-new home, contact Magna Homes today!