FREQUENTLY ASKED QUESTIONS
How long does it take to build a house?
A new home typically takes 6 to 8 months after receiving permits to build.
When can I add windows and extra lights to my new house?
This is a structural change that must be completed during the Exterior Selection Appointment. Please refer to the “Guidelines for Preliminary Upgrades” for more information. No structural changes can be made after this point.
Where do I get my mail and what is my postal code?
Bommunity mailboxes are installed and maintained by Canada Post. You will need to contact Canada Post directly at 1-800-267-1177 to register and they will assign a mailbox and distribute mailbox keys. In smaller towns you may pick up your mail at the local post office; please inquire with Canada Post for more information. Canada Post will also have your postal code.
Can I move some items into my new home or garage before closing?
Due to legal liability and insurance restrictions, we cannot allow any personal assets to be stored in you home while the property is registered under Halcyon Homes. Once the deed has been transferred and the transaction has closed you will receive your keys and can begin moving items into your new home.
Rates are high right now; how do I know when it’s the right time to buy?
Rates and home prices have an inverse relationship. Once rates start to go down, we will see an increased demand for homes resulting in increasing home prices. A mortgage broker who is focused on seeing you make a smart investment can guide you through this decision. Switching to a lower rate can be financially wise, even if it requires paying a penalty, which gets rolled into the new mortgage.
Where do I pick up my keys for the house and when will they be available?
You receive your keys from our lawyer once the transaction has closed. Typically, the keys are not released until later in the afternoon on the day of closing. Please contact your lawyer for further details.
When will my driveway be completed?
Driveways are not completed until the ground has had one full winter season to settle. Once you’ve been in your home for one full winter season (December through March) your driveway will be completed the following summer season. Homes closing before December 31st will be completed the following year.
Can I bring my current mortgage with me to a new home?
Yes! Most mortgages are “portable”, meaning your current mortgage can be brought to your new home (especially if you have a low interest rate). Even if you need more funds (or in some cases less), there are ways to do this to preserve your rate. Every lender and mortgage have individual features
What is the minimum down payment required?
Although everyone’s finances are personal, the minimum down payment for a home is:
- 5% on the first $500,000
- 10% on every dollar between %500,000-$999,000
- 20% is the minimum on homes at $1,000,000 or more
Please note that the deposit Halcyon require is 10% . If you arrange financing where you are using a down payment which is less than 10%, you will be rebated the difference on closing.
Purchase Price | Down Payment |
$700,000.00 | $45,000.00 |
$800,000.00 | $55,000.00 |
$900,000.00 | $65,000.00 |
$950,000.00 | $70,000.00 |
$1,000,000.00 | $200,000.00 |
$1,100,000.00 | $220,000.00 |
$1,200,000.00 | $240,000.00 |
$1,300,000.00 | $260,000.00 |