New Home – New Built, Spec Or Quick Possession

Dec 14, 2021

Your New Home – New Built, Spec or Quick Possession?

Are you looking for a little nest that enables you to live freely inside and flourishes the basic needs for you and your family? If budget is not an issue, you can freely juggle through many options available in the housing market.

While walking through your options online, you may come across the basic three categories of purchasing a home, including new build homes, Spec homes, or Quick possession homes.

Homebuilders keep on exploring and innovating new options to give you the best model home.

Let us explore what precisely these categories of houses are and gain quick insights into their pros and cons to help you understand which one’s right for you;

New Built Homes, Spec Homes & Quick Possessions

  1. New Build Homes

    Are you someone who has been daydreaming about every corner and the tiniest detail you want into your new home, and you still don’t mind waiting for about a year for your dream home but want perfection?

    A new build home is the one that will indeed be yours – from visualization to the way it is executed. Building a new home gives you the liberty to choose where and how exactly your home will be before it is made.

    New build homes or new construction homes allow you to choose the plot, design and planning, and you can request for minor features and details of your prospective home to a greater degree than any other options available.

    They also offer a great deal of financial flexibility within reasonable bargains, as you can opt for budget-friendly accessories and equipment that go into making your new home.

    Pros:

    • Personalized Design: While building your own home, you get some freedom in customizing the house according to your needs and requirements before the construction.
    • Construction flexibility: You can set your budget boundaries and select the home features.

    Cons:

    • New construction homes will take longer to take possession and move-in: Building a new home will make you wait for a more extended period.

      Newly built homes are ideal for those with a clear vision of what they want and who aren’t in a hurry to move in.

    According to a survey by STATISTA, the demand for building new homes has increased rapidly. Hence, the construction industry has grown by 45% in the past quarter of 2021.

  2. Spec Home

    Are you planning a new home you can call yours but need enough time to sell your current place?

    Spec homes may be the right option for you if you want a brand-new home that is ready to move in and the home builders deliver you the home in the shortest time. You can make spec homes as your model homes as it gives you some space to customize them.

    Spec homes refer to completed home projects constructed before finding the potential buyers.

    The plan of the house is prepared, and the basic structure is already constructed as per the builder’s speculations. There may only be small changes that you may make within the structure that exists.

    Pros:

    • Fairly customizable within the structural constraints: You get a free hand on amending a few changes in the house before it is completed.
    • Relatively shorter build time: The basics of the house are already finalized, and after the buyer prepares the list of customization, the entire house can quickly be accomplished.

    Cons:

    • Less flexible than a new-build: With a spec home, you will not be allowed as much flexibility as they are already in a semi-finished or finished state of construction.

    According to the article published by CALGARY LISTINGS, buying spec homes has its advantages. It enables the buyers to get access to the latest trends and technology in the housing industry.

  3. Quick Possession Home

    Are you someone who wants a completed house that is ready for your family to move into quickly?

    As the name suggests, a quick possession home is the one that is ready for you to take possession of and move in as soon as possible. They can be considered pre-built homes whose construction elements are finished, and final allocation can be done conveniently.

    With a possession-ready state, you have a clear and exact view of what your final home will be like. There is little room for customizations, and you will be entitled to the minimum flexibility of pricing.

    Pros:

    • Instant move-in: You can shift to the selected house at the most convenient time.

    • Upgraded furnishing: The benefit of moving into a new construction home is that you can access the most trendy and fancy designs and furniture.
    • Save time: You won’t have to go through the tedious process of selecting, choosing and planning the structure of the house and spare time for quick modifications and customizations, as the houses are entirely ready.

    Cons:

    • No design flexibility: As the project is already accomplished, you won’t make any new changes and give your style input.

As per the reports of CALGARY SUN, many individuals have adopted the idea of quick possession houses and prefer them over anything else.

The primary difference between a newly built home, a spec home, and a quick possession home is the degree of completion. So, the ideal choice for you would depend on how long you can wait before you move-in, and how creative you’d like to get with your new home.

Whichever the case is, and whatever your budget is, there is undoubtedly a beautiful home for your family and you out there! Take your time to go through your options and plan your move.

If you have decided on purchasing which type of house will be more convenient for you, try visiting our site for some fantastic custom homes Edmonton. Browse through the various projects available and choose the one that you find entirely within your reach.

With 7 OCEAN HOMES, you will have access to the best homes available in the entire Edmonton region. Good luck!

Feel free to drop your queries on: info@7oceanshomesltd.ca

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