The construction start date is determined when you negotiate your purchase.

Due to the uncertainty of the length of a construction season in Newfoundland, Marble View Estates normally projects a period of approximately 8 months from the start of construction to completion.

Yes. All the chalet designs can be customised and Marble View Estates will entertain changes in specifications to the layout of the chalets provided that (a) any extra costs associated with the changes will be borne by the purchaser and (b) any change in specifications must be approved by Marble View Estates and shall not detract from the overall appearance and usefulness of the chalet.

There are various lots available for sale, and prices start from CAD $186,000 rising to just under CAD $317,000. In addition there are 6 traditional homes tochoose from and depending on the design and size, prices start from CAD$305,000 rising to just under CAD $476,000, including power, water, and other key services such as landscaping.

Yes. There are several international and national financial institutions providing mortgages of between 60% to 65% of the appraised value or sale price. The exact amount of the mortgage and the rate of interest is negotiable between the purchaser and the lender. For more information on a suitable mortgage, please contact your lender or financial adviser

To purchase the land, 100% of the lot price is to be made upon transfer of title.

The purchase price to build the chalet can be made by finance or cash, and the respective payment schedule is as follows:

Finance                           CAD $      %
Reservation                       5,000
Contract (less reservation fee)             50
Foundation (including floor)                15
Weather tight                               20
Finishings/landscaping                      10
Hand over                                    5
                                           ___                                                                  
                                           100
                                         
Cash                              CAD $      %
Reservation                       5,000
Contract (less reservation fee)             25
Foundation (including floor)                25
Weather tight                               25
Finishings/landscaping                      20
Hand over                                    5
                                           ___
                                           100
               

There are government fees assessed on the registration of a conveyance of property as well as on the registration of mortgages in Newfoundland and Labrador. Registration fees are currently assessed at a rate of CAD $101 plus 0.4% based on the value of the document being registered. An example of registration costs may be as follows:

Registration fee for Deed of Conveyance

If property is valued at CAD $500,000, then
CAD $500,000 x 0.004 + CAD $101 = CAD $2,101

Registration fee for Mortgage Indenture

If property is valued at CAD $500,000 with a mortgage of 60%, then
CAD $500,000 x 60% = $300,000, and
CAD $300,000 x 0.004 + CAD $101 = CAD $1,301

This figure can be broken down into two elements, excluding any financing costs you may have, and will generally vary dependent upon the size of your chalet. Maintenance Fees are payable to Marble View Estates and include the cost of maintaining the public areas, road maintenance and snow clearing, security and rubbish collection, amongst other services. The maintenance fee is CAD $1,200 per year, and the maintenance fee for upkeep and road and bridge access to Marble View Estates is CAD $1,250 per year.

Yes. Canadian insulation standards are amongst the highest in the world, and each home is built to meet the NBC (National Building Code) insulation standard for our region (R20 – walls and R40 – roof), keeping it warm in the winter and cool in the summer.

Yes. The highly economical NextEnergy system and its geothermal exchange buried beneath your home, utilises the all-year-round constant temperature of between 10 and 15 degrees. During the winter, the NextEnergy system captures this energy and the geothermal unit transfers the heat to air that is drawn through the unit and blows the warm air around the house using standard air ducts. Alternatively, the heat is distributed through pipes containing water for in-floor heating. In the summer, the process reverses and heat is taken from the air in the house and put in the ground. This mechanism saves each household an incredible CAD $6 per CAD $1 spent.

Each home can be warranted through the Atlantic Home Warranty Program. Any defects in the first year will be repaired and the structure of the house is covered for 7 years. For an additional fee of CAD $500 this can be increased to 10 years.

Foreign investors receive the same safeguards under the law as any Canadian citizen.

If the sale price of the property is greater than the original cost, tax will be assessed on the capital gain at a rate of approximately 25%.

Revenue Canada requires that any person doing business and earning income in Canada must pay Canadian income tax. To ensure a non-resident pays the required tax on any income or gain, a system of withholding taxes is used. Should your house be sold at a gain, the purchaser would be required to withhold from the gross proceeds a percentage of the proceeds and remit them to Revenue Canada. The percentage to be withheld is determined by the seller's place of residence and can range from 15% to 25%.

There are certain mechanisms available to reduce or eliminate this tax requirement, but they are restrictive and must be addressed on a case by case basis. If these mechanisms do not work, when a Canadian tax return is filed the seller will receive a refund of all the taxes paid upfront less the taxes owed on the actual gain.

Barring permanent resident application, as a non-national you can only work within Canada with a requisite work visa. This can be obtained through the Federal Government of Canada if it can be demonstrated generally that you have job skills which are not available locally or you have a standing offer of employment which cannot be satisfied nationally.

To fully appreciate the development and experience all that Marble View Estates has to offer, simply contact your agent who will provide detailed itineraries and assistance in arranging your inspection trip to Marble View Estates.