Mattamy Seaton - Mulberry - How to get deposit back?

guthireddy wrote: ↑ I am an existing customer of Mattamy in Seaton mulberry with lot number. I saw your recent pricing package and the prices have dropped drastically. Looking at it I am at a loss of 250 to 300k. I am wondering what Mattamy is doing to address price concerns of existing customers. I also recently paid 50k to get 100k reduction from mattamy side but I see new customers are getting less price and also less deposit being taken from them. I believe Mattamy is a builder with good reputation and I am not expecting unfair treatment for existing vs new customer. I have also concerns about pricing the lot beside me at a much lower price causing my home value to go down. Considering the recent price drop for new customers , this is unfair and stupidity who bought the houses in march 2022. Please advise how to get my deposits 430K back and I don’t want to go with them . Please advice

ollywood wrote: ↑ I feel for you OP. Not an ideal situation but like any investment, sometimes they work out and sometimes they dont. Rest assured though, in the long-run you will more than likely come out on-top. Maybe not as much as your neighbour but thats not the best way to look at it. Have you tried contacting the builder?

Edit: Also, why is the deposit so high? I dont even remember the 2 mil + pre cons by Kylemore or Minto @ UV were that much I dont think

21ghost wrote: ↑ Imagine taking out a 400k heloc and paying 2k a month in interest to service it while your new home dropped 300k and your existing home also dropped 300k and then dealing with transaction/closing costs. Some of these home owners are looking at over 750k in losses already… I feel for you.

Crispers wrote: ↑ while we are imagining things,

imagine taking out an even larger heloc and paying even more in interest to service it, and both your new and existing home fell in value, and your stock/rrsp portfolio is down too, the company you work at is losing money, you need a new car because your existing car is breaking down, your pet dog requires surgery, you and your spouse are going through a divorce, your bank is on the brink of calling your loans, and rolex you thought was a good investment turned out to be fake

now you may ask, what my point is, and i'll ask you what yours is

sherwoodRFD wrote: ↑ Those who bought houses at the height will be under water for five years , if not for a decade or more.

It is amazing that the BoC head who lowered the interest rate to zero, encouraged people to borrow as much as they can, still remain on the position.

Johntheshopper wrote: ↑ Were people really jumping into the market in March 2022?

Jesus. I went to Seaton Mulberry around that time and thought the prices were ridiculous.

More reasonable now but more downside than upside at this point.

Johntheshopper wrote: ↑ Were people really jumping into the market in March 2022?

Jesus. I went to Seaton Mulberry around that time and thought the prices were ridiculous.

More reasonable now but more downside than upside at this point.