What would be the strategy for growth this year? Offering new home designs, keeping prices low, new promotional campaigns? What do you see is your biggest advantage?

The biggest differentiator from one builder to another, lies in their portfolio of plans,as well as the actual building specifications used in their base price.Over the last few years, as evidenced by the unprecedented number of house design awards Milestone Builders have won,we believe we have that first piece of the puzzle locked in.Subsequently we have worked with our trades and suppliers on eliminating all waste out of the building process, allowing us to go to market at a value that is better now than it ever has been in decades.

Do you see any new design trends in homes this year? Is the multi-generational design trend of homes going to continue? Are you seeing any new design trends like more emphasis on study areas and home offices?

Both multi-generational homes and rental suites will continue to grow in popularity.We have a huge increase in the percentage of buyers looking to “buy up” by means of offsetting their mortgage payments with rental income.While home offices have obviously become a highlight, we have seen a return to the demand for good old fashioned single family homes!Recent experiences with quarantining has brought forth a resurged importance of having ones own private yard where one can let the kids go outside and play, or enjoy the outdoors on their own.

What would be your advice to prospective new home buyers in these times? Is there anything they should be aware of before building a new home?

My advice to buyers would be two-fold.One would be to be open and transparent with your builder representative with not just how much you want to pay, but rather shift to how you will be living in your new home, and the long term priorities you will have living there.That will allow the experience of the builder to bring options and choices to the table that you may not have even considered.Secondly, I would take a look not just at what is present in the Showhome’s, but focus primarily on reviewing the specifications document.This is what you will get included in the base price of your home, and will avoid any unmet expectations.

Where do you think new home prices are headed this year? What are the factors that might affect the decision to buy a new home in 2021?

Regardless of what is going on in the economy, our house prices in Edmonton are already considered the most affordable of any other major Canadian city.Recently we have experienced events such as lumber shortages, which has driven up the commodity prices of lumber to the tune of 10-$15,000per house.Those homes will be the ones on the market in the spring, so we will see the price of the same home going up year over year.If the average prices don’t rise, it will be because people are buying smaller or lower spec’d homes that will bring down the average.Interest rates were already at historical lows, and that opportunity is expected to remain for the first part of 2021, unless things really kick into gear in other markets like Vancouver and Toronto in which case we might also see a small rise in rates.

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