There are many options to buying a new home in Edmonton. If you’re looking into how to buy a pre-construction home, you’ve come to the right place! We’re going over what pre-construction or new-build construction is, what the benefits are, and how to make a pre-construction house your next home!
What is a Pre-Construction or New-Build Home?
Pre-construction or new-build homes are homes that you purchase before the home is built. You can purchase a pre-construction home before the builder has made any plans for the lot. There is also an opportunity to purchase a spec home during any stage of the construction process where a home may be partially built out. Pre-construction homes are purchased directly from the builder who owns the lot or has started construction on the home.
Pre-construction or new-build homes allow home buyers to choose specific layouts and floor plans, as well as ensure that their finishes and design elements are to their liking. When a home is partially constructed there are fewer personalization options, but many builders will allow upgrades and design updates to the home if you are buying the house early enough in construction!
What are the Benefits of Buying a Pre-Construction Home?
1. Customizations
One of the top benefits of buying a pre-construction home is the ability to customize your home. You can personalize the design, finishes, and colour palette of your home to your own tastes. When you’re buying a resale or spec home, what you see is what you get, but depending on the stage of construction of your home, you may be able to make a few customizations.
2. New Home Warranty
When you buy a new-build or pre-construction home you get the advantage of being part of the Alberta New Home Warranty program. If you purchased a new home in Alberta after 2014, it is mandatory for you to be provided with a new home warranty. You’ll have one year of warranty coverage for materials and labour, two years of coverage for delivery and distribution systems, five years for the building envelope, and ten years of coverage for structural.
3. No Wear and Tear
When you move to a pre-construction home, the finishes and materials are brand new and have never been used by other people. Wear and tear on a home comes with the territory, but getting a completely fresh start with your home is quite the advantage of a pre-construction home. Getting to move in and have no divots in the walls, scratches on the floor, or lightbulbs that are just about to die – enjoy a perfectly finished home from the beginning!
4. No Bidding Wars
One of the things that are very frustrating about resale homes is the potential for competing with other buyers. You can make an offer on a home and have the owner turn around and tell you someone else made a higher offer. Bidding wars are stressful and can often lead to being pushed outside a comfortable budget. When you buy a pre-construction home the price is set when you purchase and you won’t be asked to bid against other buyers.
5. View Multiple Layouts and Floor Plans
Most home builders will have multiple floor plans and home styles available to choose from. This is a fantastic benefit of pre-construction homes as it means you can pick the floor plan that will best suit your family’s needs.
6. Low Maintenance
Pre-construction and new-build homes start out with very low maintenance. This is because everything is brand new and won’t require any updates or renovations. Not needing to upgrade your home for the first few years is a huge advantage as it means you can sit back and relax.
7. Energy Efficient
Pre-construction homes are built with higher efficiency windows, a tight building seal, and the best quality HVAC systems. This means your home will act much more energy efficiently – not leaking heat, air conditioning, or letting in unwanted moisture – saving you money.
When Can You Move Into a Pre-Construction Home?
Building a home with a home builder typically takes around between 9 to 10 months from condition removal to possession. The actual construction of a home typically takes seven to eight months from the beginning of construction to possession, so it depends on where in the construction process your new home is to determine when you can move into a pre-construction home. If you are purchasing a lot and designing the home from the beginning, it may take almost a year before your new home is complete and ready to move into. If the pre-construction home you’re buying is partially finished, it may only take a few months before you can move in. If none of these options work for you, many builders also have quick possession homes that are move-in ready, so you can move in right away!
How to Buy a Pre-Construction Home:
Buying a pre-construction home is a rather similar process to buying a resale home. First, you will want to choose a neighbourhood that checks all your boxes – is it a safe neighbourhood close to schools, is it close to work, and near friends and family? Then, you can either work with a realtor or directly with the home builder who will assist in the search for the right lot or property. Before you choose a builder, you’ll want to visit their show home and see their models to ensure that the homes they build will meet your needs.
After you’ve chosen your home builder and lot, it’s time to sit down and discuss costs. Once you and your builder have agreed on a price, you can sign a purchase agreement, and then it’s just a matter of waiting until you can do a walk-through of your home and ensure that everything is perfect!
TroiWest Pre-Construction Homes
TroiWest Builders has a wide selection of models to choose from! You can build a home from the ground up, or choose from a variety of quick possessions that will be ready in a few months or are already available for move in! If you’re interested in taking a tour of a TroiWest home, contact Jesse at 780-914-4090!