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Amidst all of the challenges and uncertainties of this year, there have been some positives to come out of the chaos. Interest rates are at the lowest they have ever been making new homes more affordable to the average family. This is great news. However, with the good sometimes comes the not so good. Recent stories about large lumber price increases and the uncertainty in overall supply pricing due to a shortage in materials have potential homeowners scratching their heads about “when is the best time to buy?”
Fortunately, University Heights and Ovation Homes have the answer. Fixed Price Contracts.
A Fixed Price Contract provides a level of security to the homebuyer that just isn’t available with Cost Plus Contracts. The price for the home, including all aspects of construction, is fixed at the time of signing and acceptance. The price of the home cannot change during the course of the building. If there are industry cost increases in materials or labour, these costs are the Builder’s responsibility to bear and have no impact on the final price that the buyer will pay. There are no unexpected surprises for additional costs.
As the homeowner, you still have the ability to choose different finishing items along the way. If you choose an upgraded item, the difference in the cost will be calculated and provided to you before you make the final decision on these items. This allows you to maintain control over the final price you pay.
In a Fixed Price Contract, the Builder is extremely motivated to get your home completed in a timely manner. By completing the home in a reasonable timeframe, the Builder is better able to control their costs based on completing items within the timeframe of the original quote. This means that your home will get the necessary attention from the Builder right from the start of construction. To do anything else could potentially cost the Builder a significant amount of money.
Now is an opportune time for families to purchase a new home. A Fixed Price Contract can remove some of those uncertainties and give you a more solid footing on which to start your new home buying experience.
For more information on how a Fixed Price Contract can benefit you contact the University Heights and Ovation Homes Sales Team today.
Call: (778) 738-2181 ext. 101
Email: info@universityheightskelowna.ca
Website: universityheightskelowna.ca
University Heights is a sub-division in Kelowna, just off of Academy Way near UBCO. It features over 200 single-family homes, close to both nature and amenities. The development's builder, Ovation Homes, offers a wide variety of housing plans and opportunities for further customization.
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