How you can get into a new townhome for less than rent
It’s a joyful moment when you find a new home meant just for you. A moment made better when you know that home is within reach.
As a community developer and homebuilder, Brookfield Residential has opened the door to easier home ownership. A new townhome in any of Brookfield’s multi-family developments in Edmonton can be purchased with as little as $1,000 down, with time before the possession date to save for the minimum requirement of five per cent.
“That $1,000 will firm up the sale and remove conditions. The new buyers can then select colours and the layout of their home and we’ll help them set up an interest-free payment plan. So, while we’re building their home, they’ll be saving for the balance of the down payment before the possession date,” says Antonius Magureanu, sales manager for Brookfield’s multi-family division.
“We launched this in our Paisley community in January and will offer it on all our townhome developments in Edmonton from April 1 to June 30.”
Under new mortgage rules, new homebuyers making a minimum five per cent down payment have to qualify for a mortgage at a higher interest rate. This might change the type of home a buyer can afford, however Magureanu is confident that Brookfield Townhomes offer both quality and value.
With prices ranging from the low $200,000s to low $300,000s, depending on the style of townhome and upgrades, becoming a homeowner has never been easier. With costs as low as $427 bi-weekly, buying rather than renting just makes sense.
“We have a limited number of homes available in Canvas in Paisley, Vista Pointe in Chappelle Gardens and Grove on 25th in The Orchards. They are perfect for singles or couples who know they want to quit renting. They can easily get into one of these townhomes, build equity and go from there,” says Magureanu.
Every new homebuyer has a place in Brookfield Residential’s master-planned communities. Busy singles and active young couples are gravitating to Canvas Townhomes in Paisley, an innovative, highly walkable community in the city’s southwest where public art installations deliver some big personality. The townhome architecture is modern and attached garages offer utility space for adventure gear such as snowboards, skis and kayaks.
In a community with both natural beauty and lush landscaping, Vista Pointe in Chappelle Gardens in Edmonton’s southwest is a haven for younger, firsttime homebuyers and young families.A plus for families, this fall Donald R. Getty School opens in Chappelle for students from kindergarten to Grade 9. This spring, the community’s Residents Association facility is opening and will add to the many amenities with programming and skate change room. A grand opening celebration is scheduled for May 27 from noon to 4 p.m., and everyone is welcome.
Grove on 25th in The Orchards in the southeast offers affordable homes for families. It is close to nature trails and includes exclusive access to its Residents Association, with amenities like a spray park, skating rink and a 12,000-square-foot building scheduled to open this summer. This fall the kids will be able to walk to school in about five minutes when Jan Reimer School opens.
Magureanu says each townhome in these three communities offers all the benefits of a single-family home — private entrances, a small yard or patio and the opportunity to own a pet. Yet residents don’t lift a finger when it comes to landscape maintenance or snow removal and they won’t spend a minute worrying when the shingles start to curl.
Brookfield’s townhomes boast 720 square feet to 1,600 square feet of living space, incorporating all the amenities new homebuyers want, including open-concept layouts great for entertaining, flex space for an office or studio and single or tandem garage space.
They are for people occupied with life — the 20-somethings taking their first tentative steps out into the world; professionals who work long and play hard; and retired and nearly retired who have traded the big family home for something more manageable.
For more information, visit livebrookfield.com.