What Will My New Home Cost?
Cherry Creek Homes goal is to make the home buying process as pain-free as possible. We want to eliminate unwanted surprises! By the time we meet, you have already spent many months thinking about what you want and selecting Cherry Creek Homes to build your dream. Here is an example of a house construction budget:
|Lot||$100,000||Don't forget GST !|
|House Price||$260,000||This will be a firm quoted price|
|Extras / Upgrades||$10,000||You may choose extras during the process|
|Closing Costs||$2,000||Legal fees, mortgage registration, etc|
|Furniture, etc||$ ???|
What are Allowances?
When you receive your Cherry Creek Homes quote, it will include several allowances built into the quoted price. The purpose of these allowances is to give you flexibility in making your design choices. The allowances will be sufficient to finish the house to the level discussed in our sales meetings.
If you were to choose the exact products and finishes as discussed there would be no cost difference from the contract house price. When you get into the detail of making your final choices, customers are free to pick the exact finishes they want which may impact the cost.
Let’s use flooring as an example. If the contract quote states the flooring allowance is $13,000, that will be sufficient budget to complete the house as discussed during the sales process. During the construction process you will visit our preferred suppliers to make your final selections on flooring. You may find a product that is less expensive which would result in a lower final cost. On the other hand you may want solid gold flooring which would result in a higher cost! In our example, your flooring selections total $12,200. Your final costs will be $800 less than the quoted contract price.
What are Typical Extras and Upgrades?
As you go through the process of building, you will encounter options and extras that you didn’t contemplate at the beginning of the process. Our goal is to plan for this up front, however the detailed design process often uncovers items that customers never thought about. Examples of items that are typically added are:
- Garage heating system
- Rear deck
- Sump pits in the garage floor
- Continuous hot water heater
- Built in vacuum
- Additional lighting
- Basement bar
- Audio systems
- Home theatre systems
What Does the Building Process Look Like?
Cherry Creek Homes goal is to make the process of building your home enjoyable and easy to understand. Below is the Cherry Creek Homes Building Process. This is a guide for you to explain what is being done and rough timelines you can expect these steps to take. Please remember that each project is very unique and the time estimate can vary based on the size of home as well as many other factors.
Cherry Creek Homes ensures a successful and stress-free home building experience for all of our customers. It is important to make sure you are thrilled about your new home and referrals and repeat business comes our way. We work tirelessly to earn the opportunity to work with new clients and repeat.
We will meet to select your home site, home plan, and discuss changes you want incorporated in the home. A sales agreement between you and the Builder is signed and you can then secure financing for the mortgage.
Your house plans will be drawn up as per agreement. We will meet to review house plans and pick exterior colors. If changes are requested, the plans will be revised and represented for your approval. We will produce the final drawings, apply for permits, survey and stake out the house.
Excavation, foundation and backfill take place at this time.
Your exterior & interior walls are being framed and windows installed. Plumbing, heating, audio, security & electrical rough-ins will be done upon framing completion. Bathtubs, shower units and furnace are also installed at this time. At this point there will be a customer framing and electrical walk through with Cherry Creek Homes Site Supervisor.
We will meet again for interior design. At this stage we discuss what interior finishes you would like in the home to enhance the environment of your home. You will also visit our exclusive suppliers to choose flooring, cabinets, lighting and plumbing fixtures.
EXTERIOR FINISHES & INSULATION
This is where the house really starts coming together and you can see what it is going to look like. Exterior finishes, such as roofing, siding and trim will start being installed. Insulation in walls & poly will also be installed at this time.
Drywall will be installed, taped and mudded. Insulation in attic will be blown in, walls pre-painted, cabinets and trim installed, flooring, final paint, mirrors, lighting and plumbing fixtures are all installed. The hot water tank, air conditioning and appliances are also installed at this time.
Final exterior finishes will be done, which includes stone/brick accents and final grading of lot. There is no set schedule to when all exterior finishes are done due to weather conditions and seasons.
This is your final walk-through. This usually takes place 1 week prior to possession date. We will walk through the home with you and make a list of; cosmetic or mechanical items needing attention. We will also explain the mechanical functions of the home, explain how our service & warranty program works, how to maintain your home.
The city inspection officer will conduct a final occupancy inspection of the home to ensure that it meets current building codes. Once everything is found to be satisfactory, a Certificate of Occupancy will be issued. If exterior items, such as driveways & sidewalks are incomplete the Builders Corporate Lawyer lawyer will do a hold back until such items are complete.
You will either meet with our Cherry Creek Homes lawyer or your own to sign papers officially removing all conditions, transferring land title to you. Once this is all done you will meet our site supervisor at your newly built Cherry Creek Home to receive your keys.
SERVICE AFTER POSSESSION
Warranty and One year service will be initiated in the first 30 days of possession and again in one year. If you have warranty or service matters please contact us via website, email or phone. Make a detailed list if possible before contacting us. Upon receiving your request, a Cherry Creek Homes representative will contact you and schedule an appointment to fix all repairs covered under the warranty
Cherry Creek Ltd. understands that people are excited about their new home and want to see the changes that are happening weekly. We do ask that you abide by our following safety guidelines:
- Contact site supervisor before visiting your home
- Do not visit the site after dark
- Make sure you are wearing appropriate clothing
- Do not bring children to the job site.