Have a question about our Condos? Check out the FAQ below.
What are maintenance fees?
Condominium maintenance fees are essentially the percentage of a unit owner's share of the costs to operate and maintain the entire building or project. These fees are charged over and above your mortgage, and other fees such as telephone, cable and, in many cases, hydro. They are not a source of profit for the board or management as each building is registered as a non-profit corporation. The fees are analagous to the individual utility bills you would pay on a freehold house, along with maintenance work such as roof repairs, window cleaning, snow shovelling, housecleaning, landscaping, etc. All fees are typically calculated according to the size of your unit so a two-bedroom unit's fees would be higher than a studio's fees. These fees are also re-evaluated each year based on the building's budget needs. Finally, a portion is also set aside as part of a contingency fund which every condo must maintain by law under the Condominium Act. The fund is intended to cover future special costs incurred as part of building upkeep, such as a new boiler or repairs to heating or plumbing equipment.
What are the benefits of buying a new home or condo?
Being able to have Menkes customize your home before construction has even started so it will be built with your own personal touch is a big bonus. Additionally, with new construction or pre-construction purchases, the work is done for you; you don't have to lift a finger, a paint brush, or a hammer. Many new homes come with some of the design elements that today's lifestyle demands; open, eat-in kitchens, walk-in closets, and large master bathroomss to name a few. The financial benefits of new properties include little maintenance, as brand new appliances, plumbing, heating, and a/c are repair-free for many years and the use of the latest construction materials mean that newly-built homes are more energy efficient and result in lower utility bills. Finally, new homes and condos are equipped with the latest technology built right in, including alarm systems & speaker systems (for a fee), internet wiring, and cable, saving you time, money, and holes in the walls.
What is the process for buying a new home with Menkes?
The first step to purchasing a new home or condo with Menkes is to contact and/or visit one of our sales offices. There, our sales staff will be happy to walk you through the process of buying your new home and answer any questions you may have.
What is the difference between Freehold and Condo?
The largest difference is what is and is not included as part of the home/unit. With a freehold home, you own the plot of land and any structure on that land, such as a house or a townhouse. You alone are responsible for the care and maintenance of the entire house, including the exterior walls and roof, as well as the lawn, garden, driveway and garage. In some townhome communities, your home and land may be your responsibility however you may still have nominal fees to cover maintenance of common shared roads and sidewalks. With a condominium townhouse or unit within a condominium tower, your unit typically consists of the interior of the unit itself, while the exterior of the unit and the plot of land on which the unit (or building, as the case may be) sits are considered part of the common elements. This means that repair and maintenance of items like exterior walls, windows, common corridors, lawns, gardens and driveways will typically be the responsibility of the condominium corporation.
Do I need an agent in order to purchase?
No; you are free to come to one of our presentation centres or condo stores to review available models for sale. Our on-site staff will be pleased to work with you to find the perfect home for your budget and space needs.
What Is Tarion?
Every Menkes home is protected by a comprehensive warranty program, which is guaranteed by Tarion Warranty Corporation, an independent corporation with the mandate to ensure that the warranty provided by all builders in Ontario to new home purchasers is enforced. The hallmark of every Menkes community is our focus on exquisite design, superb craftsmanship and exemplary customer service. This steadfast attention to quality and enduring value has earned Menkes an Excellent Service Rating from Tarion Warranty Corporation.
Who can I contact if I need to change my personal information?
If you need to change your personal information, such as your mailing or email addresses, please contact the sales office at which you purchased your new home, either via email of by telephone.
Does my purchase include HST?
Yes, the purchase price (unless otherwise stated) includes Harmonized Sales Tax (HST). HST is applicable for all real estate purchases of new construction in Canada. The HST inclusion assumes that the buyer will be using their new home for their own personal use.
How should I prepare for my décor appointment?
Interior design magazines and websites are a good source of inspiration and can offer ideas for the look you want to achieve for your home. You can also visit various designer show rooms, attend interior design shows and follow some amazing design blogs.
When do I get to choose my colours and finishes?
You will be contacted by a representative by telephone or e-mail to schedule your design appointment. The design selection process usually takes between 2 to 3 hours.
What does the design appointment involve?
You will meet one-on-one with your Décor Consultant and be guided through the colour selection process in the design studio, where you will explore the interior finishes and upgrade options available to personalize your home. You will have an opportunity to consider the options discussed and the selections you made during the design appointment and then return to finalize your choices in a second appointment. In some cases, to help streamline the process, you may also be able to select your interior finishes online by choosing designer-inspired colour packages for your suite. If this option is available for your suite, you will be sent a notification by e-mail. As always, you can choose to visit our design studio and select colours and finishes in person. Please note that online colour selections are currently only available for limited high-rise projects.
How do I make payment for my upgrades?
Payment for your upgrades is collected at the time of your final design appointment in the form of personal cheques, bank drafts, or certified cheques.
What is an Interim Occupancy Date?
A condominium project will normally have an interim occupancy period. During this time, the purchaser must 'occupy' the unit and pay the developer a monthly fee similar to 'rent'. Occupancy will take place as soon as the municipality gives Menkes permission to begin occupancy. The occupancy fees paid to the developer during the occupancy period are not credited against the final purchase price. It's also important to note that a mortgage cannot be secured on the occupancy date; a purchaser wishing to pay off the balance of the purchase price at the time of occupancy must do so without a mortgage secured on that condominium unit.
The final closing occurs once the building is registered as a condominium subsequent to which title to the suites will be transferred to the individual unit purchasers. This date can occur at any time after interim occupancy. The interim occupancy period runs, on average, anywhere from four to eight months and is dependent on the size of the building and the City's (or municipality's) development approvals process. Once final closing occurs, the purchaser can then secure a mortgage for the unit as this is when the title will be transferred to the purchaser.
What are occupancy fees?
Occupancy fees are paid to a builder by a purchaser to live in the suite until final closing occurs. These fees consist of the monthly common expenses, interest on the deferred purchase price and an estimate of the property taxes.
What is a PDI (Pre-Delivery Inspection)?
All homeowners will complete the Pre-Delivery Inspection of their new home with a Menkes Customer Care Representative. Any defects discovered at the time of your inspection will be listed on the PDI Form and you will be provided with a copy. The PDI Form serves as the official record of the condition of your new home before you moved in and will be used as a reference for future statutory warranty requests. Menkes Customer Care forwards a copy of your completed PDI form to Tarion Warranty Corporation for their records.
How do I arrange Moving Day?
If you have purchased a single-family home, you can choose any day to move in after your closing day. If you have purchased a condominium townhome or suite, you must contact your property manager to advise them of the intended moving day. This will allow them to ensure the elevator (if necessary) is not booked for that time and any other deliveries or moves will not create congestion in the laneways or moving bays.
Who can I contact if I have problems with my new suite/home?
During the first and second year of occupancy you should contact Customer Care depending on what stage you are at regarding your new home's warranty. Once your warranty has expired, you should contact your property manager for further assistance.
What is Final Closing and when does it occur?
Final Closing is the date when title is transferred to you after the building or project is registered as a condominium. Final Closing typically occurs approximately 35 days following registration of the building as a condominium. Your solicitor will notify you of your Final Closing date. Upon Final Closing, your full mortgage is due for the balance of the purchase price.
Am I allowed to have pets?
As a rule, pets are allowed in both freehold homes and condominiums, however the volume and type of pet(s) you have must conform to the by-laws in your community as set out by your municipality. Additionally, many condominium towers have limits on the size/weight of pets that are allowed to be kept in your unit. You should carefully review your condominium's declaration documents to see what these restrictions are.
How do I submit my Statutory Warranty Forms?
Although we strive to deliver a home without deficiencies of any kind, it is not uncommon to encounter minor items requiring adjustment or repair within the first year of possession. Before making a statutory warranty request, please familiarize yourself with the Homeowner Information Package which outlines Tarion Warranty Corporation's warranty guidelines and the methods available for submitting your statutory warranty requests to both Tarion Warranty Corporation and Menkes Customer Care. Please remember that all statutory warranty requests must be submitted in writing using the Tarion Statutory Warranty Forms and according to the timelines specified in the Homeowner Information Package. For more information, please visit https://myhome.tarion.com/.