Expert homebuying advice from Scott McLellan, Senior Vice-President, Plaza

During ‘normal’ times, buying a new home is a major decision, likely one of the most significant of your life. These days, COVID-19 and its associated challenges has everyone carefully weighing location, housing type, amenities and inclusions. For guidance, we went to some of the industry’s top builders and developers for expert advice.

What key advice would you stress to prospective new-home buyers in these unprecedented times?

The biggest piece of advice I would give to prospective new-home purchasers is that this COVID situation will eventually go away. We saw evidence of this recently when the province opened up somewhat in late summer, and there was a huge demand for real estate. Units were selling fast with prices rising in most locations across the GTA. It is important to note that the cost of building materials and labour continues to spike, and regardless of whether you make a buying decision, buy in a highrise, townhome or single-family home, real estate will continue to sell.

In spite of the recessions we have experienced, the real estate market has always been resilient, and what used to be seasonal no longer exists. The key difference with this economic slowdown is that it will take a vaccine or the virus running its course before we see a full market recovery. But the market will most certainly come back.

How might the pandemic affect the new home industry, that buyers should be aware of?

The most significant effect during the pandemic has been on construction schedules, primarily because of the various layers of government that builders must navigate for approvals to move ahead, and where often just a portion of their staff is working. Approvals are way behind, which highlights how important it is for builders to be patient.

In addition, because of horizontal social distancing, materials are much slower being delivered to building sites. With vertical social distancing, transporting materials within the building has slowed because of the restrictions of numbers of people riding elevators.

How is Plaza addressing the affordability issue in the GTA?

Plaza has always been a leader in product design with the needs and designs for the buyer being paramount. We are constantly modifying and improving and working with our purchasers to create a product that is more affordable, but without cutting back on quality, finishes or customer service.

What is it about Plaza that differentiates it in the marketplace, or that you’d really want potential buyers to know about your company or projects?

The Plaza difference is our customer service commitment to be there at all times regardless of the conditions. When COVID hit, we immediately implemented a system where the purchaser could navigate the entire buying process digitally through video-conferencing. We heightened our messaging so that they all knew they had that option and could consummate the deal through DocuSign.

We strongly believe in accommodating our purchasers. We currently have three buildings that are occupying, and we are providing two options for post-delivery inspections: We accompany the purchaser throughout the suite respecting social distancing; or we videotape the PDI and send it to the purchaser. If, by chance, there is a deficiency, we video the repair so the purchaser has the comfort of knowing it has been taken care of. We have found that this has instilled a great deal of trust in us by our purchasers.