What You Might Not Know About Buying a New Construction Home in Calgary

New BuildBefore you buy a new construction home in Calgary, make sure you check out this post. We will share some of the unexpected factors in buying a new build and parts of the process that might surprise you (including some unexpected costs that are unique to a new build).

To find new construction homes for sale in Calgary, contact us any time. Ready to learn more so you can walk through the home buying process with confidence? Keep reading.

Timelines are Flexible

One of the biggest differences between buying a new construction home and an existing home is the timeline. Unless the new build you are buying is already complete, there are many factors that can delay or accelerate the timeline. 

While builders provide estimated completion dates, new construction timelines are always subject to unforeseen delays. Factors such as weather conditions, material shortages, or permitting issues can impact construction schedules. It's essential for buyers to be flexible and understand that the move-in date may change, taking the time to have a back up plan in place if it does not align perfectly with your plan.

Model Homes are Usually Different From Actual Homes

Many new construction developments showcase model homes with upgraded features and finishes to entice buyers. It's crucial to differentiate between the model home, which may include optional upgrades, and the standard features included in the base price of the actual home. We can help you clarify the standard offerings and carefully review the specifications.

It may also be beneficial to see one of the builder's homes (not a model home) to have a visual of a more standard product. Inquire about whether this might be a possibility and make sure you are fully understanding the actual home you will be buying. 

New Construction Homes Have Warranties

One of the biggest benefits of buying a new construction home is the warranty nearly all of them offer. New construction homes typically come with warranties, but the terms and coverage can vary. Make sure thoroughly understand the warranty offered by the builder, including the duration and specific items covered. Knowing the warranty details provides peace of mind and helps plan for any potential future maintenance or repairs. 

New Construction Homes Still Need to Be Inspected

A common misconception by many buyers of new builds is that there is no need for an inspection because the home is brand new with no wear and tear. While some of the usual issues presented by years of living in a home are irrelevant, a new construction home definitely still needs an inspection. 

Even builders with a great reputation will make a mistake here and there. Your home inspection is your opportunity to catch any mistakes or errors and make sure you are getting the home you expect. In most cases, anything the inspector finds will be covered on the builder's dime, a beneficial difference from the typical negotiation process with a seller. 

In addition to the professional inspection, buyers should conduct a final walk-through of the property before closing to ensure that all agreed-upon features and upgrades are in place. This is an opportunity to identify any last-minute issues or concerns that need to be addressed before taking possession of the new home.

Upgrades Add Up

If you are buying a new construction home that is not already built (also called a spec home), you are likely going to have the chance to upgrade and customize the design. This is one of the major benefits and perks of buying a new build, but it is essential to be aware of how quickly these upgrades add up to impact your purchase price. 

While the base price of the new construction home may be appealing, the costs of upgrades have the potential to bring the home beyond your price range. Upgrades for flooring, countertops, appliances, and additional features may significantly impact the final price. Be sure that you carefully consider which upgrades are essential and fit within your budget.

Negotiation is Possible

While it might seem that new construction homes have fixed prices, there is often room for negotiation. It may not be as straightforward as asking for a lower sales price, but there may be incentives for using a builder's preferred lender, buying during a promotional period, or other unique factors. Builders may be willing to negotiate on certain aspects, such as covering closing costs, including upgrades, or adjusting the final price. Engaging in open communication with the builder's sales team can lead to favorable terms.

There May Be Unexpected Costs

The location of the lot within the development can affect the price of a new construction home. Lots with desirable features, such as proximity to parks, water views, or larger sizes, may come with additional premiums. Buyers should consider how much they value the location and whether the premium aligns with their priorities. Other unexpected costs include landscaping, window coverings, and appliances that you would otherwise consider included in the purchase if you bought an existing home. Make sure you've considered the whole purchase as you set your budget, and find out exactly what your builder includes. 

Understanding the nuances, from the variability of construction timelines to negotiating terms and thoroughly inspecting the property, empowers buyers to make informed decisions. Ready to find your new construction home for sale in Calgary? Contact us to get started. 

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