Facing the fi rst-time homebuyer challenge

Rowan II by Trico Homes

FACING THE FIRST-TIME HOMEBUYER CHALLENGE

A first step, a first kiss, a first car; there’s a first for everything, and each one is momentous and memorable and should be celebrated. But nothing is more of a milestone than buying your first home.

For one thing, the first home is – more than likely – the biggest purchase of your life up to that point. It’s a turning point that can mark one’s growth into full adulthood.

But in a tough economy compounded by climbing inflation, those looking to own their first home are faced with some extraordinary challenges. Homebuilders have taken steps to try to ease the burden for what has always been an important segment of the market by trying to keep costs down, offering new designs fitted for the starter lifestyle, and building in communities that offer amenities to support the buyers’ needs.

The prospect of owning one’s own home – more to the point, having one built new – is an exciting, fulfilling life event.

FOR THE FIRST TIMER

Carson Khuu and Katherine Tampis are building their first home together in the budding northeast community of Homestead and they can’t wait to move in. Both are keenly aware of the challenges that buying a new home bring but are still very much looking forward to the adventure of this new life together.

They both grew up in the northeast and their families are still in the area, so the location in the Partners Development Group community of Homestead works great for them. “It’s very accessible for our work, as well,” Carson tells Calgary New Home + Condo Guide.

He says the biggest challenge for them was finding a home the fits their needs and lifestyle within their budget. They are both young health care professionals with no children yet but wanted a larger home that addresses the future. They found what they were looking for in Trico Homes’ Rowan II laned home.

Carson and Kat

“We had specific criteria such as a home that was large enough but not overtly, and a two-car garage. It was nice that Trico Homes allowed us to personalize our new build so that it truly felt like ours,” he says.

“Trico is very transparent with costs and made sure we stayed within our budget. If we bought a pre-owned home and renovated, there could have been additional costs we did not anticipate. What also sold us on a new build was the warranty policies for new homes. As first home buyers, we feel supported with the warranties.”

Carson says they were impressed by Trico’s Rowan II show home in Homestead. At around 1,800 square-feet, it had more than adequate space for their needs. “With the open concept floorplan and large windows, it looked and felt spacious.”

“The large kitchen, pantry, and island are great features. We appreciate that Trico is mindful of the sink location to maximize counter and island space. We’re huge fans of dual sinks in the master bathroom,” he adds. The ability to personalize the home to fit their needs, like adding an extra linen closet, an accented shower shelf and installing pocket doors, was also key.

They are also including a detached garage in the build and the prospect of being able to develop the basement down the road is exciting as well. It’s a home that fits their current and future needs.

FIRST-HAND ADVICE

The couple checked off many of the to-dos that first-time homebuyers need to understand before plunging into the market. By having a clear idea of what they want in a home and where they want to live, they are already way ahead of the game.

Neil Donnelly of Remax iRealty Innovations says he gives his clients a questionnaire that helps them identify their needs. He says identifying the size of the home, the style of the home and the lot characteristics is the first step.

“Next, I help clients find the right community based on an interview process that determines their lifestyle. It sounds simple but I have helped clients who love their home but don’t like the community its’ in,” he says. “Next, I help them understand the builders’ specs to identify which are standard items and which are upgrades,” which he says helps them stick to their budget.

“When you look at a show home look at the home plan not the upgrades. Make sure you understand the standard items and what’s been upgraded,” the 20-year industry veteran says.

Trico Homes laned showhomes in Homestead.

ZEN Abrio townhomes

BUYER INCENTIVES

For more than three decades, Trico Homes has helped many homebuyers find their dream first home. A large percentage of their market is made up of first-time homebuyers, so Trico takes extra care in addressing the needs of this segment of the market.

Trico Homes’ Director of Marketing, Glenda Schwartz, says they have built over 11,000 single- and multi-family homes in the past 30 years, but they know that caring for their clients should go beyond just that.

“Trico understands moving from renting to owning is an amazing milestone to work towards. However, the process can be intimidating, especially for the first-time home buyer,” she says.

Trico has tools, including their First-Time Home Buyer Guide, to help first-time homebuyers begin their homeowning journey. “As this is one of the biggest financial decisions they will make, it is important to prepare them every step of the way to ensure it is a positive experience, with minimal surprises.”

Trico also offers a FlexDown Payment Program, which allows buyers of specific home models to enter into a purchase agreement with as little as a $1,000. “From then on, monthly payments are made to fulfill the remaining balance of the minimum down payment,” Schwartz says.

ENVIRONMENT FIRST

At Avalon Master Builder, the developer of the popular ZEN series of townhomes, first-time homebuyer business takes a full third of sales, says Sales Manager, Mariam Ali.

They have the designs, and prices that fit the market well, and their focus on environmentally sustainable designs and building practices appeals to even more.

There are new ZEN floorplans released for 2022 but a key component of their designs continues to be increasing energy efficiency. Avalon is continuing to apply Net Zero and Net Zero Ready methods in their building designs and construction process, which has proven to be appealing for all their buyers.

“As a first-time homebuyer, you can trust that a ZEN home will save you money and the environment as our townhomes are built with environmental sustainability in mind. We also have various floorplans and models ranging from 1-3 bedrooms with prices starting in the $180,000s. This allows our homes to be more affordable,” she adds.

“They can expect to find the right fit home as we offer various types of well-thought-out floorplans with fully fence backyards. A backyard perfect for your little fur baby. They can also expect a clean and greener home that is modern and stylish.”

In 2022, Avalon is releasing its third townhome development in Seton: ZEN Abrio. It will have 76 unique townhomes including two- and three-bedroom plans as well as two-storey City Homes, which have been a consistent best-seller.

“ZEN Abrio will include drive-under units, combining our functional floorplans with the attached garages that many first-time home buyers desire and right-sizers require for comfort and accessibility,” she adds.