Expert homebuying advice from Noorez Lalani, President, and Gary Switzer, CEO, of MOD Developments

During ‘normal’ times, buying a new home is a major decision, likely one of the most significant of your life. These days, COVID-19 and its associated challenges has everyone carefully weighing location, housing type, amenities and inclusions. For guidance, we went to some of the industry’s top builders and developers for expert advice.

What key advice would you stress to prospective new-home buyers in these unprecedented times?

Noorez Lalani: The pandemic forced us to reflect on whether our homes are truly able to accommodate the nuances of our individual needs and unique daily routines. I don’t think people ever thought we’d look at homebuying through a lens that forces you to imagine your living room as not only a place to lounge and relax, but also to exercise; or at a kitchen as not only a place to dine, but somewhere that can double-up as an office.

Make sure your purchase checks off all (or most) of your boxes. Unfortunately, there is no “one size fits all” piece of advice; make a list of all of the attributes you require in a home. It might include: Proximity to transit and grocery stores, nearby parks for outdoor activities, extra useable space that can accommodate home-schooling or work. Then, don’t be afraid to be picky and shop around. Truly do you best to imagine living in your space in the most turbulent of circumstances. If it still feels comfortable, then it’s the place for you.

How might the pandemic affect the new home industry, that buyers should be aware of?

Gary Switzer: The pandemic has affected the new home industry in a number of ways that we can expect to remain for the foreseeable future. Buying a home is a very emotive experience and a huge part of the joy in doing so is quite sensory. Previously, buyers could walk into a presentation centre at any given time and be greeted by an associate, with the ability to touch, feel and interact with the space. Nowadays, obvious restrictions have been placed in order to keep both the buyer, seller and sales teams safe. We wouldn’t say the process is any less special, but it’s different and will require some adapting.

From a design perspective, buyers can certainly expect to see a number of new trends emerge. What might have been important before the pandemic, is seemingly less so. Creating a space where livability and lifestyle can co-exist harmoniously in a single dwelling will become the impetus behind suite design for many builders. At the same time, we anticipate amenity and communal spaces will be designed to facilitate social distancing measures and some shared work-from-home spaces.

How is MOD Developments addressing the affordability issue in the GTA?

Switzer: One of the biggest factors is the lack of supply. At MOD Developments, we’re increasing supply through the addition of 551 new condominium units with our latest project, 55C Bloor Yorkville Residences. At the same time, we’re also replacing the 100 rental units that once existed on the site. Historically, cities that have the biggest affordability issues are typically the ones where the amount of new housing does not meet market demand. Only by increasing supply and maintaining a mix of housing types can Toronto remain affordable.

What is it about MOD that differentiates it in the marketplace, or that you’d really want potential buyers to know about your company or projects?

Lalani: Our mission is to develop high-density areas that nod to rich architectural and cultural histories, while still remaining innovative and forward-thinking. We’ve been extremely lucky to re-imagine some of Toronto’s preeminent heritage sites and bring them to life in a way that will stand out for decades to come. We implement the same attention to detail and design excellence needed to execute projects such as Massey Tower and Waterworks and apply that same thinking to everything we do. Every single corner of our properties – from the landscape to amenity areas and suites – has been conceptualized to perfection so that we’re honoring the neighborhood it will reside in while allowing it to soar on its own.