The word is getting out about Pickering, and the Durham Region is growing faster than anywhere else in the entire GTA. There are endless reasons for this, from high-quality schools and convenient living to the abundance and relative affordability of the housing market.

Plus, it’s one of the most scenic places around, filled with beautiful parks, a stunning waterfront, and peaceful trails. Our only question is, who wouldn’t want to live here?

Since much of the GTA is facing a severe housing shortage, Pickering’s boom in construction holds massive appeal. It’s the one place where you have options, whether you want to settle into an existing home in an established neighbourhood or hold out for one of the upcoming new developments. In this post, we’ll talk a little more about everything you need to know about Pickering real estate.

Why Consider a Resale Home?

When you think about buying real estate, a resale home is usually the first thing that comes to mind. You begin browsing listings online, and most of the options are established homes that already have residents living there. 

Why choose this route over a brand-new build? There are actually a few reasons many buyers find existing homes more appealing. 

• Some people like the character and essence of older architecture and the style of classic homes. 
• Closed-floor plans, once considered passe, are back in demand thanks to the privacy and noise control they offer. 
• Older homes are typically located in established neighbourhoods, complete with lush landscaping and mature foliage. Just walking down the street can feel like a scenic nature hike.
• You will often – but not always – have easier access to amenities such as dining, shopping districts, and entertainment.
• Prices of resale homes tend to be lower than with new builds, making them ideal for first-time buyers or those looking for affordable options to upgrade.
• Resale homes are available quickly, with a typical closing date between 30 to 60 days after a seller accepts your offer. 

Why search for your new home in Pickering? The posts below will highlight just a few of the reasons:

• Is Pickering a Good Place to Live
• Pickering Vs Toronto: Where Should You Buy a Home?
• What Does Pickering Offer Empty-Nesters?

What to Know Before You Choose Resale

The case is strong for buying a resale home. Nevertheless, you will want to consider all of the ifs, ands, and buts and research accordingly. Buying a home is one of the biggest milestones in life, and there are some potential disadvantages of older buildings. 

• An older property will often need repairs and upgrades. 
• If extensive renovations become necessary, the cost may outweigh any advantage of a lower price. However, if only minor touch-ups and updates are needed, you can spread them out over time as your budget allows. 
• The HVAC system and appliances can be less energy efficient, which will make them more expensive to run over the long-term, and they may have to be replaced sooner than you anticipate.
• The cost of resale homes is driven primarily by the market. Though they are typically less expensive, prices can creep up when multiple buyers are bidding against each other. 

The Case for Pre-Construction in Pickering

Advantages of buying a resale property aside, there’s just something infinitely appealing about the idea of living in a pristine, brand-new home that no one has ever touched. That’s just one of the many reasons why pre-construction is becoming more and more popular by the day. There are also numerous practical benefits to getting in on the ground floor of an upcoming development:

• More inventory is available. The number of resale homes is limited, but development in Pickering is just getting started, with over 75 new buildings on the way. However, it’s not just condos. New buildings will include every structure, from apartment-style condos and townhouses to spacious family homes with generous-sized lots.
• The barrier to entry is often lower. Though pre-construction can ultimately be more expensive, thanks to spread-out deposit structures, you need less cash upfront. Since full payment isn’t due until the construction is complete, getting into the housing market can be more accessible for younger buyers.
• Your purchase is covered under a Tarion warranty. Unlike a resale home, you don’t have to worry about major repairs for at least seven years. Any defects (which are rare in new builds) are the builder’s responsibility.
• Everything in the home is brand new. State-of-the-art finishings and appliances don’t just look fantastic and stylish but also tend to be energy efficient. 

What to Know Before Buying Pre-Construction

Pre-construction can be the opportunity of a lifetime for the right buyer. However, there are several factors to be aware of before pursuing this path. 

• Completion of your home takes time. Sometimes, it takes much longer than you realize, especially if delays occur. If you urgently need your new home, buying pre-construction might not be the right choice. On the other hand, this can be the perfect opportunity for first-time buyers and retirees who are willing and able to wait!
• What you see is not always what you get. The builders tend to showcase every available upgrade in their model homes. Unfortunately, many of the features you fall in love with come at a greater cost.
• It can also be more difficult to envision what your home will look like from a floor plan, especially if you are a visual person.
• The neighbourhood might still be in development. New construction often takes place further away from the amenities such as parks, restaurants, and services. In addition, public transit might be limited.
• There may be less greenery. Trees and foliage take time to grow, and there is no speeding up that process. As a result, it may take a few years before your new surroundings become as beautiful and scenic as you would like.

Deciding between pre-construction and a resale home is as emotional as it is logical. When your head and heart agree on a certain path, then you can be sure you are taking a big step in the right direction!

Find out what the future has in store for Pickering-Seaton with this video right here:

Want to learn even more about pre-construction in Pickering? The posts below will put you on the right track:

• Exploring Seaton: Pickering’s Hidden Gem in the GTA
• What You Need to Know About Pickering’s Hot Condo Market
• Why a Status Certificate Is Important When Buying a Pickering Condo

Pickering’s Exciting New Developments

Pickering is home to some of the biggest and best developments in all of Canada. The most significant of these is Seaton, which will eventually accommodate approximately 75,000 residents. This master-planned community will be made up of individual neighbourhoods, including Lamoreaux, Brock-Taunton, Mount Pleasant, Wilson Meadows, and Thompson’s Corners. 

As part of the Innovation Corridor, Seaton will also provide as many as 35,000 jobs right within the community. A series of low-rise condos, townhouses, and spacious family homes are underway, and hundreds of families have already settled in!

As exciting as it is, Seaton is only one of dozens of new developments happening in Pickering. The city already has one of the hottest condo markets in the GTA, and many more are in the works. 

Another of our favourites is Universal City Condos, and we are not biased just because the building is located just six minutes away from our office! This stunning development by Chestnut Hill Developments is your chance to have a world-class lifestyle for a fraction of what you might expect to pay in a thriving city like Pickering.

Amenities include a gorgeous outdoor terrace, swimming pool, and party room. With its convenient location to the Pickering Go Station, beautiful parks, and unrivalled shopping districts, you get the benefits of an established neighbourhood along with the perks of a contemporary lifestyle. 

Are you ready to start the search for your new home? Our Pickering real estate agents are here to guide you through each step. Reach out today to info@teamrajpal.com or call 647-875-8000 for more information. 

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