TRENDING | NEW BUILD VS SPEC YYC
Prominent Homes
BUYING A SPEC HOME OR BUILDING A NEW ONE? by PEPPER RODRIGUEZ Building a new home can be as easy as 1-2-3, but there is an even easier way of owning one. If a buyer wants to move into their new home in the shortest time possible, they can always purchase a spec home or move-in-ready home. But what is the difference between building a home of your own from scratch or buying a pre-made one? Turns out there isn’t really much. Both are new homes that no one has lived in before. The main difference is the time of possession. Homebuilders offer spec homes because not every homebuyer has months to wait for their new home to be built. This also allows builders to keep their team of tradespersons busy. The builder spec home has been a tried-and-true industry standard. 20 New Home + Condo Guide | July 22–Aug. 19, 2022
A spec home is industry speak for a home that is built before a homebuyer makes a purchase. It is constructed using builder specifications (hence, “spec”) and most are move-in ready or at least available for a quick possession. We spoke with Prominent Homes and Calbridge Homes to get their perspective on what buyers can expect in making either decision. TIMELINES
According to Pal Shergill, President of Prominent Homes, one of the advantages of buying a spec home is that it eliminates the lag time between moving into a new home while the old home is sold. “Spec homes allow buyers to purchase a new home quickly, they can take advantage of selling their home first and once the
offer is firmed up, they can buy a quick possession home.” While building a home from scratch gives buyers the advantage of choosing their own design and finishes that fits their lifestyle. “You can customize your home to your family’s specific needs and wants. You also get to pick your own colours and materials of every room and detail in your home from windows to cabinet handles and everything in between,” Shergill says. “A new build on a pre-sale home is currently taking about 8-10 months from time of purchase to possession, so its advantage is it does give people more time to pack and move out which is great as well.” Edmundo Azuaje, Manager of Marketing and Communications at Calbridge Homes, says besides
