Humber Real Estate - Course 3, Module 4, Transactions Involving New Construction questions with correct answers

What are the 5 types of properties a buyer might consider when choosing to build a new home? CORRECT ANSWER - A vacant urban lot - An infill redevelopment opportunity - An urban lot with structure - A vacant rural lot - A rural lot with structure What is the aim of "Intensification"? CORRECT ANSWER To provide additional housing stock by using existing services rather than developing vacant land in outlying areas that are not serviced. What is an 'Infill Redevelopment'? CORRECT ANSWER The process of developing vacant or under-used parcels within existing urban areas that are already largely developed. Most communities have significant vacant land within city limits, which, for various reasons, has been passed over in the normal course of urbanization. What are the key considerations before proceeding with an infill redevelopment? CORRECT ANSWER - Zoning compliance - Severance - Impact on existing properties (higher demand from more ppl living in the area)