This program for first-time home buyers is so incredible that people camp out for days just to line up for it …
Developer The Daniels Corporation’s FirstHome program offers a compassionate and innovative way for first-time home buyers to afford a home. This marks the 14th year of the program.
Judging from the lineup outside the new Daniels Beckenrose Community in Brampton, FirstHome continues to grow in popularity and impact.
Sale day is not until Saturday, but some groups have camped out for over a week. Still, the civility and generosity of the groups in line has become the stuff of legend.
They organize coffee runs and take the time to get to know one another. And well they should, for come Saturday morning, they may actually be neighbours.
The FirstHome Communities are quality, pre-built homes sold on a first come, first serve basis. And though the program requires a lot of extra effort and support from the developer, it symbolizes The Daniels Corporation’s belief that home ownership should be a right extended to all Canadians.
The homes are priced within the reach of first-time buyers, so that the FirstHome Program literally opens the door to folks who never thought they could afford to buy a home.
It’s not unusual to see tears of joy on sales day, as The Daniels Corporation FirstHome Program makes the dream of home ownership a reality for so many.
Here’s how it works:
Interested buyers should register online for the FirstHome program. This allows advance access to information as well as invitations to preview new FirstHome communities.
FirstHome Preview Events allow potential buyers to walk through each pre-built model, allowing them a first-hand look at the homes (instead of having to decide based on a floor plan). The Preview Event also offers buyers a chance to chat with a sales rep, review the pricing list, and confer with a mortgage specialist.
On sales day, it’s recommended that buyers come with a first, second and third choice of home model, as well as the pre-approval for a mortgage.
Purchase And Pricing
The Daniels Corporation works with the financial institutions to make qualifying for a mortgage easier for prospective FirstHome buyers.
And FirstHome’s five per cent Gradual Deposit Payment Plan is designed to bring the deposit structure within reach. Buyers pay a deposit of just $3500 when they sign the Agreement of Purchase and Sale, and an additional $3500 10 days after the agreement is signed.
To follow, purchasers pay $1000 each month until they reach five per cent of their deposit or the final closing date (at which point, the balance of the purchase price is required).
Buyers have 10 days after signing to review the agreement with a lawyer, and they can forego purchase anytime within that 10-day period.
FirstHome offers incredibly quick occupancies, ranging from 60 to 120 days, depending on the community. This is of real benefit to those who are currently renting their home.