Buying in a New Community in Calgary

Calgary is a wonderful city that features world-class communities. More and more people are attracted to what the city offers, so builders continuously develop new areas in the vicinity.

A new community is one that has been constructed within the last five years, and some areas are still under construction. In new communities, builders are offering pre-possession or quick possession. You can even sculpt your home the way you want before you move in.

Tony Cusano joined Jared Chamberlain to talk about three crucial steps buyers need to consider when buying in a new community in Calgary. Tony has helped many people purchase new homes in new communities, and he is also thinking of doing the same thing.

Tony has a growing family. As his children grow, they need a bigger space to suit their needs. Many families in Calgary have the same situation and are moving up to better homes to make room for their next life stages.

To help you make the right decision, here are three critical things that you have to consider when buying in a new community in Calgary.

You Don’t Want To Get Caught Up In The Emotion

When you walk into a model house of a new community, you can immediately fall in love with how it looks because it is brand new and well-staged. Keep in mind that almost everything in showrooms is upgraded. When you go through the process of purchasing your home, there will be so many options for upgrades as well.

Once you get to the stage of picking out your selections, you might be surprised that the basic inclusions of the home you purchased are a few levels behind what you saw in the showroom. Don’t get caught up in your emotions and spend a lot more than you expected because you want those fancy upgrades.

It is crucial to think that you will not be spending your entire life in one house. There will be a time that you will need to sell your home. Before you purchase a property, think about how sellable it will be in the future. And before you do any upgrade, evaluate if it will add value to your house and match up to the new builds in the future.

Last year, Tony helped a client purchase a home in Calgary. Considering that he will be transitioning to another life stage in the next three to five years, he set a reasonable budget for the house. This mindset enabled him to select an awesome home without spending too much, and he is confident that he can sell the house in three to five years.

Understanding The Resale Market

When exploring options for your next home, don’t just focus on the new builds. Go through the resale houses and see what’s available in that market too.

When people buy a new home, they often modify so many things to look exactly how they want to, but that means spending more money. If you look at the resale market, you might find homes that are already built to the specifications you want, and you can move in right away without the hassle of going through a lengthy process.

Waiting a few months for a listing that meets your criteria is still faster and potentially better than buying something brand new but still in need of renovations. While there are many factors to consider, the most important thing is how happy you will be when you move into your new place.

Be Careful Who You’re Working With

As with every transaction, you have to be careful with who you're working with. Like Tony, if you are selling your house and moving up to the next place, it is crucial to have a strategy to streamline the entire process.

We have curated a step-by-step guide in hiring an agent when doing real estate transactions. You can download this guide to know the seven biggest mistakes to avoid when hiring a realtor. This guide will help you ask the right questions to figure out who you should be working with.

You must know how much time a realtor will devote to selling your house for the best possible result. Understand how they determine how much your home is worth and how they plan to make the transition to the new house as smooth as possible.

Timing is a significant factor as well. Timing when your house is ready, a new one is available and timing with the market. There's a lot of little things that come into play. Sometimes it is better to sell earlier because the market is hot and then rent a house for the meantime or move back in with your family. We have had clients who did that, and they were happy.

Some might not have that option, but it all comes down to your situation. The most important thing is you have to be aware of anything that could come up and rely on your agent’s help to develop a process that's going to work for you.

If you have any questions or need help in any real estate matters, we are always here to help. You can reach us at 587-316-5400 or info@chamberlaingroup.ca.