How long does it usually take to build a new home?
Each type of home has a unique timeframe for construction whether it is a condo, townhome, single family or a custom home. In addition, each builder can vary on their timeframe to build their product. On average, a new home can take anywhere from 120 to 180 days from purchase to completion, but there can be opportunities to purchase a new home with a much quicker delivery time. A custom home may take 10 to 12 months to build.
What kind of deposit is required?
There are a lot of variables that determine the amount you will be required to put down as a deposit for your new home. Some of these variables are based on the type of financing you use to purchase your brand new home, your credit scores, the type of home you are buying and the amount of options you add. It varies on what amount a builder requires as a deposit, but 10% is average. Please call Luca Andolfatto for more information based on your specific criteria.