Hidden - our experience with mattaMy
What role does Mattamy Play?
In 2017, Mattamy priced their homes 14% higher than the average detached resale home, and took deposits from buyers that were 10-22% of the purchase price. For the average family, these deposits were paid for by pulling out equity from their existing home.
Mattamy reserves the right to change prices, whether or not it aligns to the market. In Mattamy’s 2017 release of detached homes and Townhomes, they increased prices three times within the period of one month. Each time, the increase ranged anywhere from $40,000 to $100,000.
In addition to the base price of the pre-construction homes, Mattamy charged lot premiums ranging from $10,000 to $270,000, home layout option premiums and controlled vendors they selected, which are not always at the same level and quality for all homes.
This kind of price inflation is something that impacts our economy. Why is it not regulated?
Being bullied into closing!
Mayor Seeks Help for Oakville Families
Mattamy has dropped prices of pre-construction homes in several of their developments, including Whitby and Oakville
Mattamy dropped the pre-construction prices in Whitby by about $60,000.
Mattamy dropped the pre-construction prices in Oakville by about $190,000 in few months.