Blog > New Construction vs. Resale in Markham
Michael John Lau · REALTOR® & CPA/CMA · Market Insights · 2026
New Construction vs. Resale in Markham
The allure of "brand new" is fading. Here is why smart buyers in 2026 are pivoting back to established resale neighbourhoods in Markham.
The Hidden Costs of "Brand New"
For years, new construction was the default choice for many Markham buyers. The promise of modern layouts, builder warranties, and customization was irresistible. But in 2026, the math has changed.
Extended construction delays, escalating upgrade costs that can add $100,000+ to the base price, and the looming uncertainty of Tarion warranty claims have cooled the new-build frenzy. Meanwhile, the resale market in established communities like Cornell, Wismer, and Angus Glen is offering something new builds simply cannot: certainty.
Why Established Neighbourhoods Win in 2026
- Mature Landscaping & Trees: A 15-year-old home in Cornell has established, towering trees and mature gardens. A new build offers a patch of sod and a 5-year wait for shade.
- No HST Surprise: Resale homes are exempt from the 13% HST, a massive, immediate saving that new construction buyers must factor into their budgets (and often fail to do accurately).
- Known Neighbourhood Vibe: You can walk the streets, meet the neighbours, and see exactly how the community functions. With new subdivisions, you are buying a promise, not a proven environment.
- Immediate Possession: No waiting 18-24 months for occupancy. You can move in on closing day, ending the costly overlap of paying rent and a mortgage simultaneously.
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Start Your Home SearchMichael John Lau is a licensed REALTOR® & CPA/CMA with the Kaizen Real Estate Team at eXp Realty (License #4784577). This article is for informational purposes only. Always consult with a lawyer and financial advisor regarding HST rebates and new construction agreements.