The purchase of a single family lot in Eagle Ridge includes significant obligations on behalf of the purchaser. The purchaser must consider what kind of a home will be constructed and what the total costs of finishing a home might be.

The Agreement for Purchase and Sale requires construction to start within 12 months and be substantially complete within 24 months of the date of purchase. In order to assist purchasers with this decision a checklist of points to consider is attached for information. Although the list is not exhaustive, it provides an indication of the kinds of things to be aware of when purchasing a single family lot.

• The basic rule – do your due diligence and know what you are getting into
• Make sure to read and understand the Agreement for Purchase and Sale
• Check the title for the property and all attachments
• Check for information in Restrictive Covenants on title
• Check for information on fencing, screening etc. from phase maps
• Check the architectural guidelines as they relate to your lot
• Confirm the lot prices from the maps with the Agreement for Purchase and Sale
• Confirm minimum home sizes by looking at Phase maps
• Consider what architectural style you want for your home
• Find a planner or designer for your home or select a qualified builder with a design you like
• Engage a builder to construct your home
• Talk to your bank about the cost of the lot and the cost of the house and what amount they are prepared to lend to complete the work
• Determine the financial commitments you must make to build a home – make a budget
• Consider the landscaping, patios, sidewalks, and other exterior improvements in your budget
• Don’t forget to $10,000.00 performance deposit required in the Agreement for Purchase and Sale
• Plans for houses must be submitted for approval (See Architectural Guidelines)
• Builders are required to get a building permit (refer to municipal requirements)
• Builders are required to meet minimum criteria to qualify to build in Eagle Ridge (see Builder Approval Criteria).
• If you want to build you own home for your own use, you may do so without the need of new home warranty coverage. To protect your investment however, we strongly recommend that you seek coverage.builder (see Builder Approval Criteria)