If you are starting to think about construction financing in Toronto you should be aware that the pre-stages of a build can be just as big an undertaking as the building project itself. For residential projects or custom development ventures alike it is important to budget time for all stages, including the time it will take to research and shop for all the financial products that may be relevant to your particular situation, like construction loans and the various types of mortgages available.

There are many types of financing for construction financing in Toronto. You can do a lot of this legwork yourself, but sometimes, if you don’t have the industry experience it may lead to confusion and more questions. Save yourself a lot of time and reach out to mortgage and financing companies. Many top professionals will be happy to sit down with you, go over your particulars and not only suggest the best products for your situation, but also give you a step by step breakdown of what you need to do to get the best possible terms and lowest rates. Make sure to ask what the typical time frame is for the approval process, because many people forget that budgeting for time is just as important as budgeting for money.

Once you have taken the time to research the various types of applicable construction financing, including talking to professionals, then it is important to shop around with different companies that can provide you with the best options.

Things to look for in mortgage and construction financing companies include finding out the number and types of lenders they have access to, how many of these lenders can assist with construction and building loans, and what type of experience they have with arranging this type of lending. You may even be able to ask for references from companies that have used their services before. After having researched the type of finance you are wanting to secure you should be in a good position to ask educational questions to allow you to make a more informed decision on the right way to go.

Because, at the end of the day the goal is to obtain the most beneficial financing for your project, it is important not to overlook creative ways to stretch your overall budget. One of the biggest mistakes made by both those undertaking a residential project and custom development project is underestimating the value of having and regularly contributing to an emergency slush fund. Unexpected hurdles can arise at any time, and are usually pretty costly. Being prepared with flexible funds to address these hurdles as they come along will keep your project on track.

There is an online shopping platform that offers a few different avenues in which saving and earning cashback rewards can help grow your emergency savings reserve. Shop2Save is a free membership program that leverages its extensive member base to procure the biggest wholesale prices that are typically only available to big retail companies. Members can get the best savings online when shopping without having to price compare or wait for promotions. Further, members earn substantial cashback on these purchases. For every dollar spent on purchases members earn 45% real cashback rewards dollars that can be spent anywhere MasterCard is accepted. Members are also rewarded when shopping for big-ticket items. Shop2Save collaborates with some of the biggest names in Canada for industry professionals. This means if you are considering a real estate transaction and you connect with Remax through the shop2save site, you’ll earn cashback. Of particular relevance to construction financing in Toronto, if you connect with Canada’s leading mortgage company Dominion Lending centres you can earn cash back on an essential way to make your project happen.

Include Shop2Save in your Toronto construction financing research to save both time and money and then get big cashback rewards for shopping smarter!