Frequently asked questions
OWNING VS RENTING
While both owning and renting have their perks, there are some definite positives to consider when you own: Every month that you make your monthly mortgage payment, you can rest easy knowing your hard earned money is going towards something that is yours and not owned by someone else. Owning a home is an investment in yourself and your future. Real estate tends to appreciate with time, which means in 5-10 years you’ll have made money off of your home simply just by buying and living in it, creating equity. Being a homeowner helps to create a sense of pride in where you live, and encourages you to get to know your neighbours and become involved within the community.
DO I NEED A HOME INSPECTION?
No, you do not need a home inspection when you buy a new home from Twenty First Century Homes. All of our homes are inspected numerous times throughout the building process and once again at the end of the build period.
WHAT IS PROGRESSIVE NEW HOME WARRANTY?
Coverage of defects in labour and materials.
Coverage of defects in labour and materials related to plumbing, electrical, and heating.
Coverage of the system of components that separate controlled interior air from the exterior.
Coverage of key structural components.
WHAT HAPPENS ON FINAL CLOSING DAY?
Closing day is the term used for the day you take possession of your home. While your biggest concern is being at the house to pick-up the keys, here is what goes on behind the scenes: 1. Mortgage commences and interest starts accruing, the first payment date is as previously arranged with the lender 2. Legal transfer documents are submitted to the Alberta Land Titles Office for registration 3. New Home Warranty starts 4. Walk Through 5. Key Release 6. Title Insurance coverage begins – for more information please visit: https://fct.ca/property-owners/
WHAT IS A HOME OWNER'S ASSOCIATION FEE & DO I HAVE ONE?
This varies depending on the community where you live. Some neighbourhoods have Homeowner Associations, while others do not. An HOA forms a board that helps to take care of and maintain the community. To name a few: they ensure everyone’s yards are well kept, host community BBQ’s, and plant flowers throughout the neighbourhood. Communities with Homeowner’s Associations must pay an HOA fee. The fee can range from $20 to a few hundred dollars a month. This payment is non-negotiable.
WHAT ARE THE ADVANTAGES OF BUYING A NEW HOME?
Buying a new home means buying piece of mind and security. All of our homes at Excel come with a one year warranty which covers everything in the house, while some systems such as distribution systems come with a two-year warranty. After that period, the Progressive Home Warranty takes over the warranty of your home and continues to cover parts of it for up to 10 years.
DO I GET TO SELECT MY OWN COLOURS & FINISHES?
Generally, yes, you will get to select your colours and finishes. If you purchase a presale home, you will have the opportunity to choose your colours and finishes. If you are buying a quick possession home, you may have the ability to select some things or nothing at all. At Twenty First Century Homes, we use expertly designed scheme boards in our Sales Centres which gives buyer’s the opportunity to choose their colours and finishes, while also ensuring the home blends well together and presents a look of cohesiveness.