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  #21  
Old 2019-03-06, 10:12 PM
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GregS GregS is offline
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You could end up in my situation where the land is worth more than the house.. Eventually I'll either sell the land (house is not worth much) or knock down and build new.
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  #22  
Old 2019-03-06, 10:51 PM
suezuki650 suezuki650 is offline
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Originally Posted by electricsky View Post
That's a Minto house in Quinn Pointe. It is on a 35' lot. Right now you can purchase a new house from Minto in Quinn Pointe and get the same lot size and sq house as the one that is listed for 520k (there are many floorplans around that price point) and you can customize it to your liking and it will be significantly under 650k. Overpriced! But its possible someone might offer close to 650k. Theres a sucker born every minute.
It would depend on how much they put into upgrades. Minto doesn't give a whole lot to start with, similar to what Mattamy does. I spent 50k minus my credits, in upgrades in a townhouse and I didn't get hardwood. It wouldn't be hard to spend 100k in upgrades especially if you are getting a hardwood spiral staircase, 9 ft ceilings and who knows what all else. On my home I also added landscaping, alarm, central vac, air conditioning and again those are all costs someone would have to do on a new house so... if you look at what it would cost you to get that house, maybe they aren't that far off. If they did the upgrades you want and you don't want to wait another two years for your house...
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  #23  
Old 2019-03-08, 09:11 AM
electricsky electricsky is offline
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Originally Posted by suezuki650 View Post
It would depend on how much they put into upgrades. Minto doesn't give a whole lot to start with, similar to what Mattamy does. I spent 50k minus my credits, in upgrades in a townhouse and I didn't get hardwood. It wouldn't be hard to spend 100k in upgrades especially if you are getting a hardwood spiral staircase, 9 ft ceilings and who knows what all else. On my home I also added landscaping, alarm, central vac, air conditioning and again those are all costs someone would have to do on a new house so... if you look at what it would cost you to get that house, maybe they aren't that far off. If they did the upgrades you want and you don't want to wait another two years for your house...
You can't expect to re-coupe 100% of your upgrades when you resell your house. If you have fancy landscaping and you paid 10k for it, your ROI is nowhere near 100%.

This is a re-sale house and you do not get anywhere close to 100% ROI on upgrades.

Last edited by electricsky; 2019-03-08 at 09:16 AM.
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  #24  
Old 2019-03-08, 09:33 AM
suezuki650 suezuki650 is offline
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You can't expect to re-coupe 100% of your upgrades when you resell your house. If you have fancy landscaping and you paid 10k for it, your ROI is nowhere near 100%.

This is a re-sale house and you do not get anywhere close to 100% ROI on upgrades.
Of course not. However, the house is going to be worth more than the builder's base cost. If you wanted that house with those upgrades, you know what it will cost if you go with the builder and wait two years.
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  #25  
Old 2019-03-08, 11:23 AM
electricsky electricsky is offline
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^ most likely 1 year.

But buyer gets to choose the lot, floorplan, elevation, upgrades, etc. Plus tarion warranty.
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  #26  
Old 2019-03-08, 11:40 AM
suezuki650 suezuki650 is offline
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^ most likely 1 year.

But buyer gets to choose the lot, floorplan, elevation, upgrades, etc. Plus tarion warranty.
Tarion warranty LOL.. if anything was covered under the Tarion warranty with the already built house, it would have been fixed already. After year 2, unless your house collapses in on itself (ie major structural), it's not covered by Tarion.

As I said in my previous message, if the home is what you wanted with the upgrades you wanted it has value. If it's not the home you wanted and doesn't have the upgrades you wanted, it's value to you is less.

If you don't want to waste weeks of time off waiting on the builder to fix stuff, you might want an already built house as well
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  #27  
Old 2019-03-08, 03:08 PM
eastendguy eastendguy is offline
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The companies building in busy cities seem to be getting away with a lot in terms of charging extras! It's Crazy they are getting away with charging extras for such silly things... Is it normal that builders in Rockland for example have a lot more standard features?
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  #28  
Old 2019-03-09, 08:26 AM
OttawaC OttawaC is offline
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The companies building in busy cities seem to be getting away with a lot in terms of charging extras! It's Crazy they are getting away with charging extras for such silly things... Is it normal that builders in Rockland for example have a lot more standard features?
The issue of builder standard features is often debated on public forums, especially from the point of view of perceived quality and which builder is better than others. The challenge is that these claims are more often subjective rather than objective.

All builders offer standards that appeal to their customers and not necessarily to everyone. Some builders like Minto, for instance, offer a lower level of standards and the ability to purchase lots of upgrades while a builder like HN Homes offers a fully upgraded home as standard with little room for upgrades.

Make no mistake about it though - whether you buy from a Minto or a HN Homes, you are paying for those features. The key is to make sure that you actually want the features that you are paying for. This is why some buyers actually prefer a Minto over a HN Homes as with Minto they are able to get exactly the features they want and not pay for bundled features that they don't want.
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  #29  
Old 2019-03-09, 11:01 AM
electricsky electricsky is offline
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Originally Posted by suezuki650 View Post
As I said in my previous message, if the home is what you wanted with the upgrades you wanted it has value. If it's not the home you wanted and doesn't have the upgrades you wanted, it's value to you is less.

If you don't want to waste weeks of time off waiting on the builder to fix stuff, you might want an already built house as well
Lol if you want to pay tit-for-tat on 100% of the upgrades that somebody else made, then by all means. Like I said, theres a sucker born every minute.
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  #30  
Old 2019-03-09, 11:56 AM
electricsky electricsky is offline
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41 KNOCKADERRY CRESCENT $619,900

That house has just been knocked down from $650k to $620k. Like I said, it was very overpriced to begin with. It will probably sell for around $590-599k. I'm actually very curious and will ask my agent friend to tell me the sale price when it does sell.
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