Carval Homes

Buyers typically register their interest first, then get access to plans and pricing when a phase is released. After signing, deposits are paid on a set schedule. Closing follows construction, and in some cases there is a period of interim occupancy before final closing.

In Ontario, a 10-day cooling-off (rescission) period applies to new and pre-construction condominiums under the Condominium Act. It does not apply to freehold houses. Since most of Carval's current projects are single-family homes or townhomes, buyers should not assume this protection applies, and should have a lawyer review any agreement before signing.

Pre-construction purchases typically let a buyer secure a home with a staged deposit schedule, then pay the balance at closing. That means capital is committed over time while the home is being built. Returns are never guaranteed, and prices can move in either direction between signing and closing.

With Carval's projects all in Richmond Hill and mostly single-family, investors should look at local rental demand for houses versus townhomes, how many comparable homes are being released nearby, and how quickly they sell. Also review the deposit schedule, estimated occupancy timing, carrying costs and the builder's agreement with a real estate lawyer before signing.

Ontario pre-construction purchases usually require a deposit paid in stages, often a portion at signing and further instalments over the following months or years. The exact amounts vary by project and are set out in the agreement of purchase and sale. Programs for first-time buyers, such as the federal First Home Savings Account or the Home Buyers' Plan, may help with saving the deposit, and eligibility rules apply.

Registering early can matter because builders often release homes in phases, and registrants may see pricing and floor plans before general release. Registration is not a commitment to buy.