It might sound crazy to buy a house that doesn’t even exist yet. But it can be the perfect solution for those who have time to wait. For young first-time buyers, it is a fantastic way to plan ahead and secure their future. Plus, under the First Time Home Buyer Incentive Plan, the federal government offers as much as 10% for your down payment through its shared equity plan. The benefits of a pre-construction project are many:

• Brand new home, the smell, the feel and the vibe. You’re the first person to live there, and nothing has been touched. Everything is pristine, modern, and updated with the latest and most innovative technology, which also results in lower utility bills.
• Believe it or not, a brand new pre-construction project can actually cost less than an older home. The price you see is the price you pay, and there are no bidding wars that escalate and drive up the cost. In addition, you’re buying at today’s value of the home. By the time you move in, the value will likely appreciate, meaning you’re building equity on the property even though it doesn’t yet exist. Of course, the market is unpredictable, and it doesn’t always happen this way. However, property values tend to rise over time. 
• You may not need the entire down payment right away. Typically, the purchase of any home, new-build or resale, requires a 20% down payment. However, many pre-construction projects allow you to make installments, so you only need 5% upfront to lock in your new home.
• Maintenance costs tend to be lower. Since everything in your home is brand new, you don’t have to worry about expensive repairs or upgrades for a long time.
• Home covered under Tarion warranty. All newly-constructed homes must provide a seven-year warranty from the date you take possession. You can sleep soundly knowing any major defects are fully covered.
  
  
  
  Why Ottawa is one of the most desirable place to move?
  Not only is Ottawa the nation's capital city, it's also the perfect place for you to experience some of Canada's best attractions, entertainment and nature. Enjoy a tour of the revered Parliament Hill buildings, explore the seven different national museums or go for a skate along the famous Rideau Canal. Charming neighborhoods will offer you tasty craft beer, fresh local food and unique shopping experiences. Pristine outdoor spaces in and around the city provide you with a bounty of activities including cycle, rafting, hiking and skiing. In Ottawa, you'll be front and centre for some amazing festivals, including Winterlude, the Ottawa Jazz Festival, and of course a huge Canada Day celebration! With no shortage of vibrancy, culture and access to nature, Ottawa is a place where you'll be perfectly at home.
  
  Are you looking for Preconstruction homes in Ottawa? Check out our page to see upcoming projects.