Quick Possession or Pre-Sale: Which Is Right For You?
Posted:
20.03.02
When looking for a new home you'll
frequently hear the industry terms “pre-sale, new build, spec or quick
possession”, but what do these terms really mean? More importantly, how do you
know which option is best for you?
Spec homes, also referred to as quick
possession homes, are houses where construction has already started. These
homes may be nearly complete or at the framing stage, and the lot size,
floorplan and finishes are predetermined by the builder. How long a spec home
takes to be “move-in ready” depends on what stage the home's construction is
at, but typically move-in dates are sooner than pre-sale homes.
Pre-Sale homes or new builds are homes where the buyer personally
selects the lot, floor plan and features prior to construction beginning. A
pre-sale home is built from the ground up and typically takes between 9 - 12
months to complete once selections are made, but this depends on a variety of factors, like the building process and
time of year.
Whether you’d benefit from a having
home built for you or from purchasing a builder's quick possession really
depends on what features are important to you and how soon you need or want
your new home. Here are some key questions to consider:
What’s your timing? If life
circumstances simply don’t allow for a longer home selection process, a quick
possession may be an ideal match for your situation. Say you sold your last
home sooner than expected or you prefer to avoid the selections that come with
a new build, quick possessions can offer a huge advantage by making it possible
for you to move in sooner and skip the building process. A spec home is ideal
if you rank the importance of “time” above “customization”.
However, if customization matters and
you’ve always dreamt of adding personal touches to your new home, then a spec
may not be the best solution. If customization is your thing, then being on
board from start to finish during the building process gives you more control
over the finished product. The lot selection, floor plan, features and finishes
will all be chosen by you. Plus, if you need time to sell your current home
or get your finances in order, a new build may give you more flexibility in that
area.
Whatever you decide when purchasing
your new home, working with an experienced home builder is an excellent idea.
Experienced and reputable builders will give you the peace of mind that your
home will be constructed to the highest possible level of quality and
satisfaction.
Visit
us at Hawks Landing West Kelowna and meet Kelowna’s top builders.
Aaro
Builders and Okanagan Sunrise Construction
Affordable
Quality New Homes Start From The Low $500,000’s.
Choose
your pre-sale home or quick possession home with front attached garages and ask
about our NEW Bungalow Ranchers!
No
Speculation or Property Transfer Taxes!
CONTACT US TODAY