Pre-construction Homes Stoney Creek

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Pre-construction Homes Stoney Creek

A community in the City of Hamilton, Ontario, Stoney Creek is an amazing place to live with your family. Stoney Creek lies on the southwestern shores of Lake Ontario, east of downtown Hamilton, and touches the Stoney Creek waterways as well as other minor streams that feed into the lake.

The area is close to popular hotspots of Southern Ontario such as Burlington and Hamilton. It is connected to both Highway 403 and 407. Stoney Creek is also easily accessible from the Hamilton GO station for an easy commute.

Stoney Creek’s growing community is a gem for people seeking an inclusive family life. It stretches to the beautiful western edge of Hamilton and serves as the gateway to the Niagara fruit lands. It is close to Downtown Toronto and within touching distance of Niagara Falls. This gives Stoney Creek residents a surreal intersection of city and suburban life, which suits a lot of people hence the growing community in this neighborhood.

Why Live in Stoney Creek?

Stoney Creek was officially recognized as a city in 1984, retaining the status until 2001 when it was amalgamated with other cities into the Hamilton–Wentworth Regional Municipality.

Stoney Creek benefited immensely from its short-lived city status. Infrastructure was improved drastically, including several good-ranking elementary schools and very beautiful neighborhoods. Together with other developments, such advancements have since made Stoney Creek a more attractive place to live.

If you ever thought about moving to live here, then you really love the numerous preconstruction home projects in Stoney Creek. This is a beautiful place to raise a family, boasting plenty of nature and a friendly residential property market. Real estate prices in Stoney Creek are also very competitive with similar communities across Hamilton.

It has breath-taking beaches and waterfalls, while the numerous wineries, movie theaters, and restaurants make for a rich lifestyle.

The community also boasts of varied job opportunities for its population. The area plays host to well-known companies such as PepsiCo, General Motors, and Zara among others, offering employment opportunities for locals.

Benefits of Moving to Stoney Creek

There are many reasons for non-Stoney Creek residents to consider moving here. Besides a bustling real estate market for new construction homes in Stoney Creek, you’ll love the rich life of Stoney Creek residents.

The area has sprawling entertainment facilities such as SilverCity Hamilton Mountain Cinemas, Starlite Drive-In Theatre, and Hotrod Hobbies among others.

The Stoney Creek area is also very secure, averaging just 4,377 estimated crime actions per 100,000 people. This is marginally higher than the average for the Ontario metrics of 3,086 crime actions per 100,000 people. It is also much lower than other areas of a similar size as Stoney Creek.

You can also find a home with ease. There are several preconstruction homes in Stoney Creek already accepting offers, with buyers free to choose from condos, townhouses, and detached houses. These properties also have family-friendly features, including multiple bedrooms, yard space, and more.

The Housing Situation In Stoney Creek

The housing market in Stoney Creek is aligned with the wider trends across the City of Hamilton. While prices have been rising steadily across the last 5 years, the market has seen a steady supply of housing inventory across all categories. This includes more units across the residential and commercial properties available for sale, while the rental market has also witnessed higher inventory.

However, according to The Spec, even the increase in housing market inventory has not met the current demand for residential properties across Hamilton neighborhoods. This has in turn forced high-turnover areas like Stoney Creek to witness continually rising housing prices over the last decade.

Such high demand has made the preconstruction market incredibly attractive for prospective new homeowners. There are several preconstruction townhomes in Stoney Creek set to be completed before the year ends. Similar preconstruction projects for condos, detached houses, and semi-detached houses provide alternative avenues for homeownership, albeit with the caveat of having to wait a few more years.

With this in mind, here are the available options for housing properties in Stoney Creek,

Residential Properties In Stoney Creek

Potential homebuyers in Stoney Creek have a wide selection of residential properties around the area. Whether you’re looking for preconstruction homes or want to buy a ready-built property, you will likely come across numerous houses for sale in Stoney Creek that are likely to pique your interest.

In this section, we explore the different types of houses available in the Stoney Creek residential real estate market.

Preconstruction homes in Stoney Creek

The market for preconstruction homes has been very vibrant. This is evident in the numerous preconstruction housing projects across Stoney Creek. These homes are attractive to most wannabe buyers because they can customize the home to their liking, while the flexible payment plans suit families that would otherwise struggle to afford a decent home.

The overarching trend in the preconstruction and new construction homes in Stoney Creek is to build high-rise home developments that are planned, under construction, or even recently completed. Data shows that the average preconstruction housing development in Stoney Creek takes about 3 years for the buyers to move into their respective units.

While this looks lengthy, the preconstruction market has saved a lot of people from the stresses of the resale market, where new condos in Stoney Creek sell out in just 11 days.

Developers of preconstruction houses share project plans, facilities, and amenities with potential buyers to help in the latter’s decision-making. You can also choose a house based on its location, including the facilities close to the development such as shopping malls, parks, and more. The size of every unit in a preconstruction housing development, the interior and exterior finishes, as well as parking and additional fees, are all important considerations in deciding which preconstruction project to buy a home from.

Further, these projects have a transparent pricing model, often shared on a per square foot basis that determines the minimum allowable cost to acquire a unit. Homebuyers can also choose the type of house they want such as a condo or townhouse, as well as the size, ranging from one-bedroom houses and beyond.

Whether you choose to buy a preconstruction condo, detached home, or townhome in Stoney Creek, the market has established structures to support homebuyers, including mortgages. The new construction homes in Stoney Creek, including condos and detached homes, come with a load of facilities that the buyer can customize so long as it does not interfere with the approved structure.

Ready to move-in homes in Stoney Creek

For homebuyers looking for a home ready to move in, there are many new construction homes in Stoney Creek to consider. This market offers a combination of beautiful new-build properties, as well as residential properties for resale.

Similar to the preconstruction housing market, the Stoney Creek resale market boasts a range of beautiful condos, townhomes, detached houses, and semi-detached houses. You can also get single-family homes at very competitive prices, while the number of bedrooms and other features also vary to help buyers find their dream homes.

Such intense competition for resale houses has increased the mortgage pre-approval rates among Stoney Creek residents. Significantly, this means that most would-be homebuyers in the area have a to-go mortgage to help them close these deals, further explaining the fast completion of sales in this housing market.

Types of Houses in Stoney Creek

The real estate market is also booming. New construction homes in Stoney Creek are popping up all around the area, with the property market a mixture of preconstruction single-family detached homes, apartment buildings, townhouses, and semi-detached houses among others.

You can also explore the various preconstruction-stage townhomes in Stoney Creek, preconstruction condos, and many others. If you love living close to water, then consider the preconstruction detached homes in Stoney Creek’s beachfront properties.

Townhomes in Stoney Creek

There are lots of townhouses available for sale in Stoney Creek. While these properties vary in size, location, and facilities among others, the townhomes listed around Stoney Creek are classy and spacious, while most have a beautiful yard. Major townhome properties presently on sale include 20 Mockingbird Lane, 5 Pinot Crescent, and more.

Detached homes in Stoney Creek

Most of the detached homes available for sale in Stoney Creek are single-family properties. They come with an extensive array of beautiful features and family-friendly facilities. These homes are also located within close proximity to excellent schools. Major developments include Mistywood Drive and 53 Sherway Street among others.

Condos in Stoney Creek

Stoney Creek housing market has very pristine condos to choose from, often located in bustling neighborhoods. These properties have a huge variation in price depending on location and facilities and come with several convenience and security features to make you feel at home right away.

Semi-detached homes in Stoney Creek

If you’re looking for a palace-like home in Stoney Creek, then a semi-detached home is for you. The properties often sit on expansive lands, boast huge yards, and have numerous bedrooms and baths to boot. While they don’t come cheap, a semi-detached home in Stoney Creek guarantees safety and privacy without isolating you from your nearest neighbors. 67 Copes Lane and 341 Celtic Drive are prime examples.

Price Trends For The Last 5 Years In Stoney Creek

Over the past five years, the prices for houses for sale in Stoney Creek have been rising steadily. This has created a friendly seller’s market in the entire Hamilton Burlington area and increased new construction homes currently in progress across the neighborhoods of Stoney Creek.

The result is a real estate market with sufficient supply to meet the demand for preconstruction townhomes in Stoney Creek and other properties in the areas.

However, real estate prices in the area have responded in kind, rising consistently since 2017 across all property types. This trend is expected to continue, with most estimates projecting a new 15% increase in the prices of preconstruction homes in Stoney Creek over the second half of 2022. This is higher than the 10.5% projections released at the start of the year but is still in keeping with how the local market has been performing since 2017.

The table below illustrates how the average prices for the preconstruction homes in Stoney Creek have changed since 2017;

Average Sale Price Per Year (CAD)          

 

Type of House 2022 2021 2020 2019 2018
Detached house $1,105,797 $989,000 $834,436 $783,142 $623,935
Townhouse $928,000 $769,000 $583,460 $511,770 $476,829
Condo $620,303 $509,000 $479,083 $439,771 $420,426
Semi-detached $868,675 $802,365 $720,613 $679,900 $583,718

Real Estate Prices In Stoney Creek

The area has seen about 350 new listings of preconstruction townhomes in Stoney Creek come to market over the last two months, with the median duration for a property being on the market standing at 9 days.

This represents a 2.5% quarterly change in house prices across detached houses, townhouses, and condos. The current price is also 19.8% higher than the average house price of about 850,000 a year ago across the popular homes in Stoney Creek.

While all housing prices are on the rise in Stoney Creek over the last year, data shows that condos have experienced the last price spike. The price of a three-bedroom condo has increased 31.22% year on year.

Of the 356 home listings reported in the past 2 months, about 166 properties have already been sold, with an average lifespan of 9 days on the market. This relatively short median lifespan of Stoney Creek houses on the market is attributed to the high demand for homes.

According to CTV News, continued acceleration in the Greater Toronto Area was driving higher demand for houses across the board, with most locations such as Stoney Creek experiencing faster real estate property sales than at any time over the last five years.

Why You Should Invest In Preconstruction In Stoney Creek

As discussed above, the Stoney Creek residential market is very hot at the moment despite the high house prices. With properties lasting just 9 days on the market, it makes sense for you to buy preconstruction houses in Stoney Creek.

Beyond the apparent competition to acquire your dream home, there are more advantages to buying a pre-construction residential property in Stoney Creek. In most cases, the type of property doesn’t matter much, with buyers of condos, townhouses, or detached units enjoying these benefits.

While there are many reasons to buy preconstruction in Stoney Creek, here are three reasons why we advise you to.

a) Enjoy First Mover Advantages

There is an added element of risk when you buy preconstruction, like the house you pay for is usually non-existent. But this risk is compensated for in the advantages you’ll receive, especially the first-mover advantage.

Essentially, the first people to buy preconstruction townhomes in Stoney Creek or other properties often receive lower prices than those who purchase similar properties later on.

Preconstruction homes in Stoney Creek also have a fixed rate when they are in their construction phase, while you have a higher chance of securing the property of your dreams, including beach view homes.

Since builders use preconstruction profits to fund new projects, buying a pre-constructed house sidesteps any purposeful price inflations when builders resale houses to gain higher profits.

As the first owner, you also stand the chance to make higher returns if you ever choose to sell your property later on. Further, since new buildings have fewer restrictions, investing in preconstruction will most likely see you allowed to have pets as new building bylaws often have no restrictions on pets!

b) Avoiding Bidding Wars

Buying any of the preconstruction homes in Stoney Creek allows you to avoid the bidding wars that come with buying a used or post-construction home.

Unlike in the finished homes market, preconstruction buyers only have to pay a fixed price for their dream home. Property developers rarely increase this list price unless something drastic happens.

This is the direct opposite of the post-construction property market, where would-be buyers bid over the asking price and still miss out to another higher bidder.

Most of the houses for sale in Stoney Creek usually attract dozens of potential buyers who line up with their offers on that particular property. Thanks to this competition, property sellers either raise the asking prices too much or more likely accept the highest bid, often much higher than the original asking price.

c) You can Request Customizations

Because major preconstruction housing developments in Stoney Creek are sold before the building begins, potential buyers can request to have certain features of your unit be customized to your liking. Whereas the extent of such customizations is limited, buying preconstruction townhomes in Stoney Creek allows for this advantage that used house buyers do not receive.

You can have the property built to your specs, for example, by requesting the addition or removal of features that are not integral to the overall structure. Such subtle changes include asking for a specific set of paint colors, exterior finishes, and many others.

You can also choose a different number of bedrooms, laundry, and bathrooms among others. Similar customizations available for buyers of preconstruction condos in Stoney Creek include options to define how your kitchen should look, where the cabinets will be, what cooktop to use, and so on.

All these options are not available to people who go for ready condos for sale in Stoney Creek or any other property type for that matter.

How Preconstruction Home Projects Work

It is easy to buy preconstruction homes in Stoney Creek. Further, preconstruction homes are typically cheaper than their resale or ready-built counterparts because you’re essentially buying a promise.

The premise of the preconstruction property market is that buyers put down their deposits per signed purchase agreements and the builder promises to deliver a home in a few years. Once the developer receives planning, development, and other applicable permits, the homes are built according to the approved plans.

Unlike in ready-build housing markets, however, buyers of preconstruction homes in Stoney Creek have access to desired customizations at no extra costs. While the developer would typically allow these customizations, however, buyers cannot alter the materials used or make changes to the core structural design of an approved building plan.

This also means that the type of residence cannot be altered once the plan has been approved. In effect, therefore, the building plan determines whether your preconstruction property will be high-rise condos, low-rise condos, detached houses, semi-detached houses, or townhouses before it is constructed. However, a potential buyer receives full information to help them choose their desired house type, including the features of a given preconstruction project.

Major Preconstruction Projects In Stoney Creek

Would you like to know about the current preconstruction home projects in Stoney Creek? In this section, we’ll review the major preconstruction projects across the area, including townhouses, condos, and detached houses among others.

a) LJM Landing Residence

LJM Landing is a new preconstruction condo development by LJM Developments. The project is located at 325 Hamilton Regional Road 8, Hamilton with a total of 148 units.

It is one of the major preconstruction condos in Stoney Creek with both the construction start date and the estimated completion dates yet to be determined

Pricing and Planning

As the LJM Landing residence at 325 Hamilton Regional Road 8 is a new construction housing project still in the preconstruction stage, not much information on its pricing and planning has been released publicly.

However, these preconstruction condos in Stoney Creek will have 148 units. The project was designed by RAW Design architects and will be built by LJM Developments.

Starting April 2022, LJM Landing has been one of the many condos for sale in Stoney Creek, with interested buyers required to contact the sales company at the project’s location.

Facilities at LJM Landing

This project is easily accessible through the Hamilton Regional Road 8 and enjoys close proximity to numerous gourmet stores and restaurants. The condo also includes different outdoor recreation facilities such as an outdoor terrace with BBQ, a yoga area, a party room, and a fitness center.

Other facilities at LJM Landing include

  • Nine-foot ceiling
  • Balcony or terrace
  • Deep soaker tub
  • Natural stone lobby floor
  • Two high-speed elevators

Why Buy LJM Landing

The LJM Landing preconstruction is located at an excellent address, 325 Hamilton Regional Road 8, Hamilton. Its units feature contemporary architecture including concrete complemented with a soft tinted glass exterior, a natural stone lobby floor with accent area carpet and grand chandelier, as well as a living and breathing exterior green wall on the west side.

There will also be two high-speed elevators, a nine-foot ceiling, stylish interior doors and frames with modern hardware, and a selection of porcelain or ceramic floor tiles in the foyer, laundry room, bathrooms, and kitchen.

Residents get to enjoy these facilities alongside other amenities like an outdoor terrace with BBQ, a yoga area, a party room, and a fitness center.

Where possible, LJM Landing will include floor-to-ceiling windows, a balcony or terrace depending on buyer preferences, as well as energy-efficient double-glazed windows.

LJM Landing Project Details

Building Type: Condo
Ownership: Condominium
Selling Status: Registration
Sales Start: Apr 2022
Construction Status: Preconstruction
Construction Start Date: To Be Determined
Estimated Completion: To Be Determined
Builder(s): LJM Developments
Architect(s): RAW Design
Ceilings: Up to 9’0″
Sales Company: Team RINE-Exp Realty Brokerage

 

b) The Independent Residence

The Independent is a new condo project under development by the Jan Group Inc. The project, located at 261 King Street East, Hamilton, is currently still at the preconstruction stage with 32 units available in the 3-story development.

With just 32 individual units available, The Independent ranks among the smallest preconstruction condos in Stoney Creek presently under development in the area.

Pricing and Planning

The Independent condominium preconstruction at 261 King Street East, Hamilton will be a 3-story development with 32 units. The units come in either a quad or polygon design, and each includes 1 bath.

Each of the 32 condo units will have 2 bedrooms with the smallest unit starting at no less than 823 square feet in size. To live at The Independent residence, potential buyers of these preconstruction condos in Stoney Creek will have to pay $753 per square foot.

Thus, the smallest condo units at The Independent residence, measuring 823 square feet, will cost prospective buyers upwards of $620,000. The official sales center for The Independent is located at 88 Wilson Street W. Ancaster.

Other peripheral costs for those interested in the condo units available at The Independent include fees for maintenance, the cost to purchase a parking space, and the cost to purchase storage. The respective costs for these additional services are yet to be disclosed to the public.

Facilities at The Independent

The Independent preconstruction condos in Stoney Creek is a classy building that’ll suit most families well. The condo units have a beautiful interior garden courtyard with a convenient BBQ area, and lush, professionally landscaped exteriors.

Both water and hydro are sub-metered, with every suite having its own independent controls for heating and cooling.

Other major features of The Independent condos include;

  • Outdoor bike racks
  • High ceilings between 8’6” and 9’
  • Luxury Vinyl Plank flooring
  • Modern double-panel square interior doors
  • White glossy kitchen cabinetry
  • White Energy Star dishwasher
  • Flush-mounted lights throughout
  • Quartz vanity bathroom countertops
  • 24-hour secure entry doors
  • Well-lit parking and common areas

Why Invest in The Independent?

Living at The Independent condos, you won’t have any accessibility issues with the residence in very close proximity to the King Street East, Hamilton.

There are also exquisite building and unit features, including outdoor bike racks. Inside, the suites have a high ceiling between 8’6” and 9’ high, all drywall is primed and painted in premium low-VOC paint, while each buyer gets to choose their favorite colors for internal finishes. The condo units have luxury vinyl plank flooring for style and comfort, while all interior doors use a modern double-panel square with brushed chrome door hardware.

The entire building has 24-hour secure entry doors, and security monitoring through the lobby and other common areas. Further, each of the 32 units is equipped with smoke and carbon monoxide detectors in line with the Ontario Building Code. Parking and common areas are well-lit overnight for security and comfort.

The developer also provides full after-sales service per the Tarion warranty for homebuilders. These statutory warranties on work and materials take effect on the Date of Possession and last for a total of seven years. With these warranties in place, buyers are protected against unauthorized substitutions of construction or finishing materials to ensure these new construction condos in Stoney Creek meet the Ontario Building Code. the warranties also cover any repairs to structural and material deficiencies as well as the damages caused.

The Independent Details

Building Type: Condo
Ownership: Condominium
Selling Status: Selling
Sales Started: Winter/Spring 2022
Construction Status: Preconstruction
Construction Start Date: To Be Determined
Estimated Completion: To Be Determined
Builder(s): Jan Group Inc.
Architect(s): Fabrik Architects Inc.
Ceilings: From 8’6″ to 9’0″
Marketing Company: McOuat Partnership
Sales Company: Michael St. Jean Realty Inc. Brokerage

 

Conclusion

The beautiful community of Stoney Creek, Hamilton, enjoys close proximity to Toronto and to breathtaking nature spots and lifestyle facilities. This combination makes the area ideal for supporting well-rounded family life. The growing community and availability of various job opportunities make Stoney Creek even more attractive to move to.

And yet, it is the bustling residential property that is critical to the decision to relocate your family to Stoney Creek. Potential homebuyers have the choice of preconstruction, new construction, and resale homes to consider, while the availability of condos and single-family homes allows for young families to also consider Stoney Creek.

Regardless of your choice of home, however, you’ll need to act smart and fast to secure a home in Stoney Creek, one of the hottest housing markets in the City of Hamilton, Ontario. The housing prices are very competitive for condos, townhouses, and more, while inadequate inventory has contributed to rising prices over the past decade.

Even then, a would-be Stoney Creek homebuyer has access to the many preconstruction home projects presently underway in the area, while listings for resale homes are just as many. To land a home, however, one must first be content with the many other Stoney Creek residents pining for the limited supply of homes, and then be able to afford the high prices of the available homes. For the latter, however, high mortgage pre-approval rates across the community of Stoney Creek, Hamilton are definitely a huge help.