There are a couple of types of finance products geared toward building a new custom home, and they differ from the regular type of mortgage you would arrange when buying a resale property. Although the smartest place for you to seek information on the best type of financing for construction for your situation is a top mortgage professional in Aurora, there are some construction loan tips that will serve you well at the start of the process:

• Choose a smart location: Obviously your life circumstances will dictate the smartest location for a new home, but the most recent trends among those seeking construction loans in Ontario show that the vast majority are young families with small children seeking to escape busy Toronto life, but do not want to relocate too far away from their places of employment.
  
  As such, Aurora is quickly becoming one of the most sought after places to build, with many locations to consider. Neighbourhoods like Aurora Estates, Aurora Village, Hills of St. Andrew, Aurora Highlands, Bayview Northeast, Aurora Heights and Rural Aurora each offer their own special attributes for consideration. Part of York Region in Ontario, Aurora is also considered part of the Greater Toronto Area (GTA) and is a particularly attractive place for people to build who want to commute to jobs in the big city but want to enjoy a place that has a small town feel when they get back home.

• Chose smart connections – in the beginning stages of planning a new custom home you’ll need to make sure you have professionals that you trust to work with. For instance, for property purchase you’ll need a real estate agent. For advice, and to secure a construction loan you’ll need a mortgage and financing company. Connecting with these professionals should be easy and offer some type of reward, be it through referrals or incentives.
• Choose to shop smart – shopping smart can be as simple as joining up for free membership at Shop2Save. This innovative online platform can be your one-stop-shop for both saving money, and getting rewarded for making smart connections. Shop2Save leverages the power of its considerable member-base to obtain volume and wholesale discounts that are usually reserved for the biggest North-American retailers. Further, the program offers a phenomenal loyalty program to reward members for being savvy. For every dollar generated in sales through the Shop2Save, site members earn 45% real cashback rewards that are not limited to what is offered online. These rewards can be spent anywhere MasterCard is accepted. On top of cashback for purchases, Shop2Save also rewards members for connecting to the most trusted companies in Canada for real estate buying and selling transactions and for arranging financial products like construction loans. There is even a propriety calculator to estimate how much cashback you can earn when working with Remax or Dominion Lending Centres.

Visit Shop2save for more help with construction loan tips in Aurora by connecting with experts to help you in the start of your new custom home building journey.