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StreetSide Developments Blog

New Builds, Quick Possessions Or Somewhere In Between: Which is Right for You?

Posted on November 15, 2016

new-builds-quick-possessions-somewhere-between-which-right-for-you-killarney-townes-alba-spec-featured-image.png“Pre-construction”, “finishing stage”, “spec” and “quick possession”. If you’re looking for a new Calgary condo, these terms are likely bouncing around in conversation. Many new prospective buyers have set timelines with job transfers, school seasons and other factors guiding the transition. Others may be a little less restricted and don't mind spending a little more time looking for or building the perfect unit. Regardless of your timeline, there are different opportunities to take advantage of at every stage.

Building From Scratch

A new build, or pre-construction condo, provides buyers with the most flexibility and control over the building process. If you’re keen to have input on everything from floor plans to the colour of your cabinets, a pre-construction condo lets you nail down your preferences before the building has even begun. It also offers the best opportunity of securing your preferred condo unit as well if you purchase early enough.

While pre-constructions offer maximum flexibility for design, the trade-off is in the timeline. If you have flexible timelines and a list of must-haves, this type of build is definitely worth looking into. It’s also a great option if you’d like to sell your existing home while waiting for the unit to be finished. 

new-builds-quick-possessions-somewhere-between-which-right-for-you-hunter-house-kitchen-image.png

Quick Possessions

At the other end of the spectrum, you’ll find quick possessions. If personalizing can wait and time is of the essence then this type of build might be for you. Quick possessions units, also known as “spec” units, already include desirable floor plans, features, and options based on today's popular condo design trends

Deciding on finishings is stressful for some. A quick possession condo relieves that pressure plus the units are nearly move-in ready, and that’s enticing for a lot of homebuyers. While they’re usually available in limited supply, move-in timelines are almost guaranteed to be between 30 to 60 days, barring any unforeseen factors.

The Finishing Touches

The finishing stage offers a nice happy medium between pre-construction and quick possessions. At this phase of the build, most of the structural work is already set in stone. This usually includes drywall, trim, doors, flooring (in some cases), and even some of the hardware. In the interior finishings stage, there is still some opportunity to provide input, however. 

Depending on how far along the build has progressed, decisions on paint colour, fixtures and things like flooring and cabinet finishes may still be open. There may not be as many opportunities for selections, but there are still enough decisions left to be made to turn a house into your home. The interior finishings stage represents a middle ground between maximum personalization and a speedy move in. If you’re timeline is a little more flexible but you don’t want to be saddled with too many decisions, this could be the perfect option for you. 

When considering your options, sometimes it will simply come down to practicality. If you’re on a set timeline with exterior factors guiding your transition process, a brand new build probably isn’t in the cards. But if you have some flexibility on your side, take some time to consider your long-term desires. Depending on your particular wants and needs, it may be worth extending your transition in order to build the home of your dreams.

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Topics: building a new home, buying a new condo

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