Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

What should a first-time buyer know about new construction in Queen Elizabeth?

New construction in Queen Elizabeth still needs the same financing a resale home does: minimum down payment of 5 percent on the first $500,000 and 10 percent above that, with mortgage insurance through CMHC, Sagen or Canada Guaranty under 20 percent down. A builder's list price is not the same as a comparable-based market value.

A first-time buyer should still budget for a home inspection at $400 to $600 on new construction, since a pre-possession walkthrough catches deficiencies before they become the builder's problem instead of yours, and a lawyer handles the title transfer through ISC exactly as they would on a resale.

Compare the builder's price against Saskatoon's $444,700 benchmark and against recent resale comparables in the area before signing, since new construction pricing moves on the builder's own schedule, not the resale market's.

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