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Build over buy? Why Windsor's hot real estate market has some opting for new builds

Reference: CBC News

As Windsor's real estate market soars, becoming the hottest in the country, some folks looking for new homes are giving up on the resale market — and turning to new builds instead.

When Brenda DeBlauw lost her husband in December, she quickly decided to make the move from Burlington to Windsor, where she's originally from, to be closer to her siblings and their families. But the stress of the bidding wars caught up to her quickly.

"It caused so much anxiety," DeBlauw said.

"You're afraid of even going into it, because you know you're not even going to get it. Especially when it's a hundred and fifty thousand over bidding, I just didn't know what to do."

After a couple of months of unsuccessfully trying to break into the market, it was suggested to her that she consider a new build, and she was quickly swayed.

"With a new build, you know what you're going to pay, and you get what you want to get. And you're not having all this anxiety and aggravation," she said.

She recently signed a contract for a town home in Windsor within her budgeted range of $450,000 to $500,000.

DeBlauw said that with homes going way over asking, and then likely also being in need of upgrades, a new build was the best option for her in terms of value for her money.

Cheaper to build?
This shift toward new builds is unlike anything Lorraine Clark, the president of the Windsor-Essex County Association of Realtors, has ever seen before in her 30-year career... Read More