How to Buy A New Loft

Streetcar’s guide for first-time loft buyers.

Step 1

Step 1

Create a Wishlist

What are you looking for in a home? Before your hunt begins, think about what location and amenities you’re looking for in a building and the features within the suite.

Step 2

Step 2

Have a Budget

Identify your affordability through financial pre-qualification. Talk to your bank. Click here for mortgages calculator.

Step 3

Step 3

Let the Search Begin

Start your hunt with a trusted friend or a realtor and see what options are available. Ask lots of questions.

Step 4

Step 4

Get the Tour

Schedule an appointment at the presentation centre to learn about the project.

Step 5

Step 5

Make your Selection

Once you’ve found your dream loft, a sales representative will walk you through the contract and facilitate the purchase.

Did You Know?

Many home buyers and renters use walkscore.com to judge the walkability and transit-friendliness of buildings. The average Walk Score rating of Streetcar’s current and past projects is 93.25 out of 100!

Step 6

Step 6

Due Diligence

Upon signing, you’ll have 10 days to review your contract and make sure you’re comfortable with what’s provided. Get a lawyer specializing in condos to help.

Step 7

Step 7

Close the Sale

Congratulations! Once 10 days has expired, your purchase is complete.

Step 8

Step 8

Note Your Interim Occupancy Date

This date may change, but it will give you an idea of when you’ll be moving into your new home. We will keep you informed of construction updates by way of newsletters so you can follow the progress until occupancy.

Did You Know?

A well-designed space with quality finishes makes a huge improvement to your quality of life. That’s why thoughtful space planning and tasteful finishes like engineered hardwood floors and granite/quartz countertops come standard with Streetcar.

Step 9

Step 9

Choose your Design Finishes

If your loft is in pre-construction, you’ll be contacted to schedule a meeting with our designer to choose your colours and finishes. This is your chance to customize your home.

Step 10

Step 10

Pre-delivery Inspection

The PDI is when you inspect your home and record any deficiencies or incomplete items. This occurs approximately two weeks prior to occupancy.

Step 11

Step 11

Purchase Homeowners Insurance

Homeowners insurance will cover contents and betterments (improvement you make beyond the standard finishes).

Step 12

Step 12

Interim Closing

Move in. This is when you occupy the suite.

Step 13

Step 13

Final Closing

This is the date when you receive the title to your loft after the building is registered.

Step 14

Step 14

The 30-day Form

This is your opportunity to notify the Builder of outstanding and new items you have discovered since taking occupancy.

Step 15

Step 15

Warranty

After you move in, there are three specific statutory warranties: the one year warranty, the two year warranty and the seven year warranty as described in the Ontario New Home Warranties Plan Act.

Did You Know?

Toronto is North America’s 4th largest city (after Mexico City, NY and LA). The province projects the GTA’s population to reach 8.9 million by 2036, which makes investing in real estate a great long term move.