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New, Spec, and Quick Possession Homes: What’s the Difference?

New, Spec, and Quick Possession Homes: What’s the Difference?

Depending on your timeline, you have many choices when it comes to buying a home. There are plenty of questions to ask, but you also need to clearly establish when you want to move in. Take a look at the options below to help you determine which option – new, spec, or quick possession homes – may be best for you and your family.

1. Building New 

There are many benefits to building new, especially if you want to be part of every bit of the decision process. Building new offers you a home that’s been customized to your exact needs and tastes. Not only will a good builder help you realize your ideas, but they’ll work hard to make them a reality. Here are few of the many other reasons why a new build may be ideal for you:  

  • New home builds are generally finished in only nine to ten months
  • You can choose from a variety of neighbourhoods, lots, and models
  • You can choose your perfect floor plan, features, and finishes
  • You can selectively spend on what you think is most important

With all these benefits, you may decide that building a home is ideal over purchasing a pre-existing one. But there are other options for those that find being a part of the entire process too much.

2. Buying A Spec Home 

When you buy a spec home you’re investing in a home that’s semi-finished – and the rest can be done to your requirements. A spec home offers a lot of the same benefits as building from scratch but the lot, model, floor plan, and some features may already be chosen (this varies depending on where the home is in the build stage). There are many reasons a spec home may be the right fit for you:

  • A perfect happy medium between building from the ground up and a move-in ready home
  • The build timeline is shorter
  • Ideal for a buyer who finds too many decisions overwhelming (but still wants a few choices)

As mentioned above, with a spec build, you likely won’t be able to change key components of the design but there may be many opportunities to make adjustments to things like countertops, cupboards, flooring, etc. 

3. Buying A Quick Possession 

This is the perfect choice for those who want their new home now; already built and 100 per cent move-in ready. Here are some additional benefits of a quick possession. 

  • A firm base price 
  • What you see is what you get – and you’ll know exactly what you’re getting before you purchase
  • Quick possessions are available in nearly every model and style

The predetermined style and finesse of quick possessions make buying a home less stressful, so the only decision left to make is choosing one of Calgary’s great new communities.

With a proficient builder and the right timeframe, choosing the ideal home should be easy. Check out the many quality home builders that Calgary has to offer!

 

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About The Author

Jeff S.

Proud father and husband. Loves music, Nine Inch Nails, UFC and inbound marketing.

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