54036 NAT COR Digital Magazine Final - Flipbook - Page 19
BUILDING COMMUNITIES:
DEVELOPMENT AND
INFRASTRUCTURE
Development charges are another factor that
significantly impacts the price of a new home
in Ontario. These charges are fees imposed
by municipalities on new developments to
fund the expansion of infrastructure and
public services. Whether you’re purchasing a
single-family home, a townhouse, or a condo,
development charges contribute to the overall
cost of the property. As a buyer, you need to
be aware of these charges and factor them
into your budgeting process.
Infrastructure expenses play a crucial role in
determining the price of a new home. Beyond
development charges, buyers should consider
the cost of infrastructure improvements
directly related to the property, such as roads,
sidewalks, utilities, and community amenities.
The quality and accessibility of infrastructure
can significantly impact the desirability and
resale value of a home. Assess the adequacy
of existing infrastructure and inquire about
planned improvements or developments in the
area. Understanding the long-term implications
of infrastructure investments can help you
make informed decisions about the suitability
of a particular property for your needs.
THE PRICE IS RIGHT
Whether you’re in the market for a detached
home, a townhouse, or a condo, it’s essential to
recognize the unique characteristics and cost
considerations associated with each housing type.
DETACHED HOMES
Detached homes typically offer more space,
privacy, and customization options but come with
higher construction and maintenance costs.
TOWNHOMES
Townhouses, on the other hand, offer a balance
between space and affordability, often featuring
shared amenities and lower maintenance
requirements.
CONDOMINIUMS
Condos are renowned for their convenience and
amenities, making them an attractive option for
many. With condos, monthly maintenance fees
are something to consider when looking at your
budget.
With a better understanding of the factors at
play in determining the price of your next home,
you’re positioned to make an informed and
empowered decision—and one step closer to
finding the perfect home for you.
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NATIONAL HOMES DIGITAL MAGAZINE
