New Homes Versus Pre-Owned Homes in Calgary, Alberta: Which is the Best Choice for Buyers?

Posted by Lana Waller on Friday, April 4th, 2014 at 8:05am

 New vs Resale Blog post April 2014

 

New Homes Versus Pre-Owned Homes in Calgary, Alberta: Which is the Best Choice for Buyers?

I get this question often and there are obviously pros and cons for both. But when you’re building a new home, you get closer to exactly what you want in a home with layout and room size choices. When people build a new home, there is a time commitment that comes with the design and colour selections. It can be frustrating at times during the build time in Calgary. You need about seven to eight months for a build time, so there is obviously a longer wait.

This is where I think, whether you are building or buying a pre-owned home, the buyer should work with somebody that has home construction experience that can guide them and take away some of the stress. When the buyer deals directly with the builder, they won’t have the extra support going in for that guidance. The builder will simply follow their process as they see it.

Like I said earlier, when you build a new home, you get closer to exactly what you want in the home. I like to highlight where I can, the benefits of a new home. It’s fresh. It’s new. And you get closer to what you want. But when you’re going into the resale, ora pre-owned market, you have a quicker possession.

Typically, you get more value when you go into the pre-owned home market. You not only get a quicker possession, but you also get more goods included. There could be more flexibility on the price, depending on the motivation of the seller. You get mature trees. You have landscaping and fencing that already exists. You’re going to have more amenities within the area because it’s more established. You’re going to have schools already in the community.

With the pre-owned home market, you may need some updating within that home. It isn’t new, and again, that’s one of the benefits of buying new. So, you have to be ready for that in the pre-owned market. You may want to be in a situation where you walk your kids to school, where they’re going to be connected with more school friends within the neighbourhood. Typically in a new home community, the kids will have to take buses out to other established communities. You have to take that into consideration as well.

So I would sum it up that there would be the advantages and disadvantages for both, but these are the main ones.  

If you would like more information or to set up a meeting to discuss, please contact me directly Tom Waller 403-803-5151.

Get a copy of my Home Buyers Guide Here.

 

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