Home Start Is Now Open to Everyone – Here’s Why That’s Big News for New Home Buyers
If you’ve been dreaming of buying a brand new home but felt like the down payment was just out of reach, Ironstone’s Home Start Program just made your dream a lot more attainable.
Originally created to help first-time buyers, Home Start is now open to all home buyers—not just those entering the market for the first time. Whether you’re upsizing, downsizing, or just ready for something new, this innovative deposit deferral program could be the key to unlocking your next move.
What Is the Home Start Program?
HomeStart is Ironstone Building Company’s unique deposit deferral program. It allows qualified buyers to defer $100,000 of their deposit, interest-free, for up to 10 years or until they sell their home—whichever comes first.
In simple terms, it reduces the amount of upfront cash you need to close on a brand new Ironstone home.
How It Works
To purchase a home with HomeStart:
✅ You provide the difference between your mortgage approval and the full 20% deposit (for example, if you require $140,000 for a 20% down payment, you will provide $40,000 and Ironstone will defer the remaining $100,000)
✅ Ironstone takes a vendor takeback (VTB) position on the home in the amount of $100,000
✅ There’s no interest, no monthly payments, and no transaction fees on the deferral
✅ You repay it when you sell or after 10 years—whichever comes first
This means you don’t have to wait years to save for a full deposit. Instead, you can move into a new home now and build equity faster.
Why This Is a Game-Changer for Buyers of New Homes
Buying a brand new home comes with many perks: energy efficiency, warranties, modern layouts, and zero renovation surprises. But for many buyers, especially in today’s housing market, the challenge has always been the hefty upfront cost.
Now that HomeStart is available to all buyers, it opens up a world of opportunity for those who already own a home, have some savings, or are looking to upgrade.
Here’s what makes Home Start perfect for buying new:
- Lower barrier to entry: Don’t tie up all your cash in a deposit. Use your money for furnishing your new home or covering moving costs.
- Flexible timelines: With up to 10 years before repayment, you have time to settle in, grow equity, and plan your next move.
- Modern homes, sooner: Why wait years to save up when you can enjoy a brand new home now—complete with quartz countertops, open-concept layouts, and energy-efficient systems?
- Financial freedom: Keep your investments intact or reserve funds for other priorities instead of liquidating them for a full deposit.
Who Qualifies?
If you’ve been approved for a mortgage and can provide some portion of the required 20% deposit, you may be eligible for Home Start.
The best part? You don’t have to be a first-time buyer anymore. This is ideal for:
- Move-up buyers looking for more space or upgraded finishes
- Downsizers wanting a modern, low-maintenance lifestyle
- Investors interested in new build opportunities
- Families wanting to get into a new home without draining their savings
Why Buy New with Ironstone?
Ironstone homes are designed for modern living with features like:
- 9-foot ceilings
- Quartz countertops
- Luxury vinyl plank flooring
- Energy-efficient windows and mechanical systems
- Contemporary townhomes and single-family homes in sought-after communities
With HomeStart, you can experience all of this without the pressure of saving a six-figure deposit first.
Ready to Get Started?
If you’re considering a new home in London or in Kitchener Ontario, there’s never been a better time to take a serious look. The Home Start program removes one of the biggest barriers to new homeownership—so you can stop dreaming and start planning.
Let’s make your move happen.
Book a showing today or speak with our sales team to see how Home Start can help you purchase your brand new Ironstone home.