Buying a new built home will become more expensive shortly as I - TopicsExpress



          

Buying a new built home will become more expensive shortly as I doubt developers will take on that increase. Residential development charges could jump roughly 25% and homebuyers would inevitably shoulder the increase. The city requires developers seeking building permits to pay the one-time charges to help the municipality afford the cost of growth -- things like new roads, sewers, emergency services and public transit. Cities in Ontario must update their fees every five years. Its a significant undertaking since the City of Ottawa and its consultant, Watson & Associates Economists, must take into account all planned projects and capital spending. Currently, single family home fees range from $16,891 to $25,315. The changes would result in developers paying $5,000-$8,000 more per home. #ottawa #news #newbuilthomes #residential #realestate #pricehike #buyers #soldbysorin #capitalhomesrealty #yourrealestatehero ottawasun/2014/04/28/homebuyers-will-pay-for-planned-development-fee-hike-builders
Posted on: Tue, 29 Apr 2014 12:54:56 +0000

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