Step 2 - Establishing your home selection criteria

Now that you know your budget and financial resources, it's time to establish your selection criteria and determine your priorities.

Where you choose to live can considerably affect your budget planning, habits and quality of life.

Questions to ask yourself

  • How long would it take you to get to work? How would you get to work?
  • What are the local services (daycares, schools, hospital, stores, parks, etc.)?
  • How much are the neighbouring homes worth?
  • Is the area safe and quiet?

Take the time to choose the home that best meets your tastes and needs.

Different types of homes

  • Fully detached home (cottage, bungalow)
  • Semi-detached home
  • Duplex (2 units)
  • Townhouse
  • Condominium
  • Undivided co-ownership
  • Factory-built or modular home

Questions to ask yourself

  • Do you need a lot of privacy? Could you see yourself sharing your space with neighbours or renters?
  • Are energy efficiency and environmental quality (insulation, heating, air quality, ventilation, lighting, type of materials, etc.) important to you?
  • How much time will you have to spend on the upkeep of your home?
  • Do you need large rooms?
  • Do you want a large property?

New home

  • Before choosing a contractor, visit the GCR website - External link. This link opens in a new window. and view their accredited business directory. Always ask for references and visit other homes the contractor has built
    • A GCR accreditation is required by law for subject buildings
    • Make sure to sign the GCR contract in addition to a contract with your builder or contractor
    • The GCR guarantee includes reimbursement of advance payments to a maximum of $50,000 and up to $6,000 for relocation fees resulting from late delivery
  • Ability to improve or select the following: exterior siding, flooring, plumbing and electrical accessories
  • Built according to recent standards (building, electricity, energy efficiency)
  • GST and QST apply—partial provincial rebates may be available under certain conditions
  • Before taking possession of your new home, make sure to complete the pre-acceptance inspection form during your visit with your contractor

Existing home

  • Established neighbourhood
  • Landscaped and fenced yard
  • Certain features may have been added (in-ground pool, finished basement, etc.)
  • Potential to be considered a new home (if major renovations have been done), in which case the GST applies

Building your own home is a huge undertaking that requires careful planning.

Before starting the work

  • Spell out all your needs in terms of your preferences, lifestyle and financial resources.
  • Set aside enough cash to cover 10% of the construction costs (not including the down payment and tax).
  • Get plans and specifications that meet building regulations drawn up by specialists.
  • Get a building permit from your municipality.
  • Get an insurance policy that covers accidents and other risks.
  • Draw up a detailed estimate of direct and indirect costs.
  • Obtain financing from your caisse.
  • Make a critical path schedule from the plans and specifications.
  • Plan the main construction inspection steps.
  • Get written contracts with deadlines from material suppliers and subcontractors.

See the DIY Homebuilders' Guide - Quebec.

Get up to $2,000 cash back for a new home or $500 for LEED, Novoclimat and Rénoclimat certified green renovation projects, as well as discounts, freebies, competitive rates and much more.

Learn more about the Green Homes Offer


Use My First Home to shop for your property

Shopping? Make sure the homes are within your budget and compare your favourites.

Log in to AccèsD


Contact an advisor

Documents you need for your meeting

Call us

Montreal area:

Elsewhere in Canada and the U.S.:

Have us call you

Through a mortgage representative

Ready to buy? An advisor can come meet with you any day of the week.

Find a mortgage representative