The short answer
Use the same assumptions for every quote. Unknown costs are unanswered questions—not zero-dollar line items.
01 / Field notes
Build a price bridge
Start with the quoted home and elevation. Add the lot premium, lot-specific work, structural changes and design selections. Identify appliances, garage, deck, fencing, landscaping and window coverings that are outside the agreement. Record what is included, excluded, estimated or still unknown. Keep tax and rebate treatment as a separate written clarification for your lawyer and builder rather than assuming the sign includes everything.
02 / Field notes
Separate purchase price from cash timing
A purchase price is not a payment schedule. List the initial deposit, later deposits, upgrade payments, closing funds and after-move-in expenses with their due dates. Ask your lender which amounts may be financed and when funds are available. A deposit normally applied toward the purchase must not be added again as a second cost. Keep a separate cash-timing worksheet to avoid double counting.
03 / Field notes
Test the incentive, not the headline
Ask whether an incentive is a price reduction, a design allowance, an appliance package, a rate arrangement or a closing credit. Record eligibility, expiry, required lender, permitted combinations and what happens if possession is delayed. Compare the resulting written deal to an equivalent alternative. An upgrade credit has limited usefulness if it only applies to items you would not otherwise choose.
04 / Field notes
Budget for the gap around possession
Ask about legal and lending costs, tax and utility adjustments, insurance, condo or association contributions, moving, storage and interim accommodation. Obtain estimates from the relevant providers. Stress-test a later possession date with your lender and, if you own a home, consider the timing of your sale. This is a planning framework, not a mortgage approval, tax calculation or recommendation to stretch your budget.
05 / Field notes
A useful comparison worksheet
Give every cost item four columns: amount, included or extra, source and confidence. Label figures as written quote, third-party estimate or not yet known. Add a separate due-date column for cash planning. For example, a landscaping allowance might be quoted while fencing remains unknown; keep those as different lines. Do not combine an optimistic allowance with a firm quote and present the resulting total as guaranteed.
06 / Field notes
When the numbers change
Revisit the worksheet after the lot is selected, structural choices are signed, design selections are final and closing estimates arrive. Keep earlier versions so changes are visible. If an upgrade increases the purchase price, ask the lender how it affects the financing and ask the builder when the incremental payment is due. The useful output is a documented range with remaining questions, not a single polished number that hides uncertainty.
Put this into practice
Your next-step checklist
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Sources & scope
Practical questions and checklists are REP editorial guidance. The official resources below support the regulatory or technical context. This is general education, not legal, tax, mortgage, engineering or inspection advice. Confirm the rules and documents that apply to your purchase.
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