If you are purchasing a home with Pacesetter Homes, Sterling Homes or StreetSide Developments, you may have the option to visit their design center, designQ. Did you know you can add an allowance to your contract to spend on interior selection products with us? Watch below as we explain everything you need to know about the designQ Allowance.
What is a designQ Allowance?
A designQ allowance is basically a gift certificate to designQ. It allows you to add money into your mortgage to spend on upgrades at either your interior selections or retail appointment.
When does a designQ Allowance get added to the contract?
The designQ allowance will be added by the area sales manager when writing up your contract. This allows it to be included in your mortgage.
Can a designQ Allowance get added after the contract is signed?
We recommend you add the allowance to the initial contract with your area sales manager.
How do you determine how much of an allowance will be needed?
Start by browsing our website to get an idea of what products you are interested in. Then, while writing the contract with your area sales manager they will work with you to estimate a price that will cover the cost.
Why is it an allowance, and not an exact price?
As every home is unique there are many different variables to take into consideration such as layout changes, different specifications and different products. At your interior selections appointment we will provide you with exact pricing.
What types of products can be included in a designQ Allowance?
Anything that is attached to your home, like flooring, cabinets, paint, window coverings and floor coverings. Basically if you took your house, flipped it upside down and shook it anything that didn’t fall out we can add.
Can a designQ Allowance be added to a completed home?
Yes! Although the products you can include will be limited to items such as blinds, drapery and wall features.
How does the designQ Allowance get used at the appointment?
Although you do create a wishlist with you area sales manager, it is not final. Our designers will use that as a reference during your interior selections appointment, however you can spend the allowance on whichever upgrades you would like.
How will you know if you used the full allowance amount?
At the beginning of your interior selections appointment we will start with a credit of your allowance, and we will add upgrades towards it. Throughout the day your interior designer will keep you updated of where you are at and when you are approaching your total.
What happens if not all of the allowance is used?
No problem. Any unused portion of your allowance will simply be applied to your closing statement as a credit. This can help to offset any other charges that have come up during your building, unless it’s within 45 days of your possession.
Why 45 Days?
45 days prior to your possession, the builder finalizes your closing statement to send to the lawyer. This typically cannot be changed.
What happens if more than the allowance is spent?
Once again, not a problem. Any additional charges at designQ will simply be added to your closing statement to be paid at the lawyers.
Can any overages be added to a mortgage?
Yes this is a possibility, however here at designQ we are not privy to your mortgage details so we recommend you speak with your mortgage specialist first.
All information listed in this post and video are deemed to be accurate at the time of filming. The information provided is a general overview of how a designQ allowance is used and may be differ in unique situations. If you have any questions or concerns, please speak to your area sales manager with your builder.