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LOCAL, CANADIAN &AMERICAN DESIGN AWARDS

JUNE 2012

CONSTRUCTION:

As land is in limited supply, builders are making every available use of it by building up

Pratt Homes' numbers have tripled

Homebuilder has four new projects in Barrie

FROM PAGE 2 As far as sales go, Pratt's numbers have tripled from last spring to this spring which has resulted in increased staff, more contracts, sub-contracts this year that than the previous two. Currently, Pratt has four new buildings projects on the go in Barrie - north, south, east and west end - detached homes, townhomes and condominiums. Heljar Hansen, president of The Canadian Home Builders' Association - Simcoe County, attributes good spring sales to people taking advantage of historically low interest rates. And he expects that will continue into the summer. Government programs are also helping buyers with their purchase of a new home. "There's always a government program in place," he said, to help with the cost of a new home. "A lot of people have a lot of expenses. It's kind of a catch-22. You're paying more (in rent) than a mortgage and people can't get out of that circle. If (your) combined income is not more than a certain amount. "There is a lot of different criteria you have to meet - a percentage of the down payment is paid. That's a really big thing: houses have gone up, everything goes up, but wages haven't gone up at the same rate." In addition, if the homeowner doesn't sell their home within a given time period, the down payment assistance amount does not have to be paid back. However, if the home is sold, it does have to be paid back. The County of Simcoe is currently running an 'Investment in Affordable Housing Program Homeownership Program', for eligible individuals and families. You have to apply to get on a waiting list. Re-sale properties and new construction are eligible. As land is in limited supply, builders are making every available use of it by building up. Most are condominium developments. The annexed land added to south Barrie from Innisfil is still in the planning stages with city council and more than likely won't be available for building until after 2014. 464 PENETANGUISHENE ROAD 705-721-9148 WWW.TOTALLIVINGCONCEPTS.COM MARK WANZEL Photos A good number of spring sales may be attributed to people taking advantage of historically low interest rates, and it is likely that trend will continue well into the summer season.

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There is a lot of different criteria you have to meet - a percentage of the down payment is paid. That's a really big thing: houses have got up, everything goes up, but wages haven't gone up at the same rate."

Heljar Hansen, CHBA (Simcoe County) president David Zilstra - Publisher and General Manager Brian Rodnick - Editor Phone: 705-726-6537 Email: barrie.news@sunmedia.ca HOW TO REACH US Newsroom: 705-726-6537, Ext. 282 ADVERTISING SALES: Ryan Huston: 705-726-6537, Ext. 266 Fax: 705-726-5414 ryan.huston@sunmedia.ca DELIVERY & CIRCULATION: Scott Murphy: 705-726-6537, Ext. 358 scott.murphy@sunmedia.ca MAILING ADDRESS: 571 Bayfield St. N. Barrie, ON L4M 4Z9 LAYOUT ARTIST: Edward Jones: ed.jones@sunmedia.ca $ 274/m OAC

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