Fist House Hunting 
By Christine Tomaselli

Newlyweds Jaqueline and Jeremy Mistry did everything right when they ventured out to buy their first new home just before the wedding.

They knew exactly what they could afford, carefully checked out the reputation of various builders, and looked for a floor plan that would suit their lifestyle and day-to-day needs.
"The decisions you have to make when buying a new home can be overwhelming for first-time buyers," explains Jaqueline. "We relied on our friends, family and experts for advice - those that had gone through the process before."

In additions to the design, the young couple considered features such as the position of the home in relation the sun, the size of the garage, backyard access for lawn mowing and landscaping, and the location of the sidewalk and hydro boxes.

They settled on an end-unit townhouse in Aurora by Heathwood Homes, which became their builder of choice after extensive research into product quality, closing date reliability, customer service and design flexibility.

When asked if they were satisfied with the home buying experience, Jeremy points to the heron etched in stained glass on the window panel of his front door.

"We named him Hugh, after the builder (Heathwood president Hugh Heron)."
The Mistrys are typical of today's newlyweds, says Sandra Frasson, sales and marketing manager for Great Gulf Homes.

"By the time two people decide to buy a home, most know exactly what they want," she says.
"Newlyweds buy with the future in mind, looking for locations that are close to schools, parks, shopping and local amenities like restaurants, fitness facilities and movie theatres."

Couple also seem to be waiting longer to get married, she says, wanting to finish school, find a job and acquire some financial stability before buying a home.

"We've seen home costs rise 10 to 15 percent in the last two years alone and, in some areas where the demand is higher, like Mississauga, price increases have been greater than that."

An average down payment can range from $15,000 to $50,000, depending on the location, cost and size of the home. Frasson says newlyweds sometimes receive financial help from their parents, especially East Indian and Italian families, where it isn't unusual for children to receive their home as a wedding gift.

Nick Hill, a Mattamy Homes sales representative at Hawthorne Village in Milton, offers some advice for newlyweds.

"Work from real money - know what you bring in and what has to go out," he says.

"Factor in day-to-day living costs and house expenses, such as taxes, hydro, gas, window coverings, light fixtures, paint, entertainment, clothing, even food. And don't go crazy with upgrades. Ask the experts in the sales office or in the décor centre what upgrades yield the best resale value of your home."

He advises young buyers to be conservative with their first home, building equity to be able to move up in the future.

When it comes to choosing the finishes and upgrades for your new home, Frasson and Hill agree it's the woman who makes the lion's share of decisions.

Most large builders offer an extensive array of finishes in décor centres staffed by designers who can skilfully move clients from discord to decision.

Experts say financing, function and aesthetics should be among top priorities for young buyers. Factors not to be overlooked include closing costs (around $5,000), CMHC financing if applicable, insurance and the home warranty program. Tarion Warranty Corporation protects the rights of homebuyers and regulates builders. For more information, visit the website at www.tarion.com.