Condo Pro: Place your trust in a Reputable Builder

By Barbara Lawlor

A happy new condominium purchaser is an educated one – someone who does the necessary homework and legwork to ensure the most value and best choice. With a home being one of the biggest decisions most people will make during their lifetime, looking at your decision by considering every angle is important. In the priority order of must-haves, location typically comes first. I suggest that once you zero in on your desired locale, you research which builders offer condominiums in the area and check out their track records before you narrow your search. There is a huge element of trust involved in signing on the dotted line and handing over hard-earned money to have someone build your residence. A little research into builder reputations goes a long way to helping you make the perfect choice for you.

Longevity may indicate a builder’s trustworthiness, especially if it is a company that has been around long enough to have weathered various economic cycles. There are also newer builders operated by principals with years of experience who are producing excellent condominiums. Research the builders you are considering, especially where service is concerned. This is a critical factor in making a choice that will make you happy for years to come. You need a builder you can rely on for excellent service before, during and after your move-in date.

You can find out a lot at Tarion Warranty Corporation’s website (Tarion.com). In addition, read whatever literature you can find, including builder profiles and histories. These are usually included on their websites, in their brochures and even sometimes on panels on their sales office walls. Remember, too, that word-of-mouth means a lot in the condo world. If you know any people who have purchased from a particular builder in the past, ask about their buying experience.

The great news is that in the Greater Toronto Area, you have a huge selection of well-respected local, national and international builders to choose from. These savvy business people recognize our quality of life as one of the finest in the world, and understand that Toronto is a growing area when it comes to condominium offerings on the international stage.

During your shopping, understand that the sales representatives you speak to, in essence, speak for the builders. Take note of how willing they are to answer questions. Reputable builders understand that a large part of selling nowadays is providing customers with as much information as possible. They welcome informed decisions, as these lead to happy purchasers.

You can take heart in the fact that today’s builders are competing for your business on many playing fields – location, architecture, amenities, suite layouts, finishes and more. This kind of healthy competition is good for our industry and raises the bar for future development. Best of all, at the end of the day, the buyer benefits from increased value, which creates a win-win situation.

Condominium choices are so exciting right now that it can be overwhelmingly tempting to buy right away. The buildings are gorgeous, the amenities amazing, the suites beautifully designed for maximum flexibility. My advice is to take your time, shop around, consider all the variable, compare fairly – and be sure to add a trusted builder reputation on your list of must-haves.

Be rational in your approach and avoid getting swept away in the sales office until you have done your homework. I can tell you that buyers are doing just that. Shoppers are returning for a few visits before they buy, and they are interested in the builders’ previous experience and products. Remember, a builder’s past can play a critical part in your residential future. Choose wisely.

Barbara Lawlor is president of Baker Real Estate Incorporated and an in-demand columnist and speaker. A member of the Baker team since 1993, she oversees the marketing and sales of condominium developments in the GTA and overseas. Keep current with The Baker Blog at blog.bakerrealestate.com