Attracting first-time homebuyers

The first time is always memorable and worth celebrating, much more so when it comes to the first home you own.
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. Starter homes can be anything from a single-family home to a multi-family apartment or townhome, it just depends on the buyer’s budget. But it is predominantly a smaller home that buyers just starting in life can afford.

Start it up

Excel Homes Marketing Manager, Kristina Plank says the starter home is the first step to the buyer’s independence and their line of duplex, laned and front-drive homes are designed to accommodate all the wants and needs of this specific market.

“First-time home buyers have a special place in our hearts,” Plank tell Edmonton New Home + Condo Guide. “Whether moving up from a condo our buying your first property, our model line-up is perfectly designed for you. We have a wide range of home sizes, depending on what suits your lifestyle and budget best! Buying a home is a big step, and we love being able to help our customers every step of the way.”
More than half of Excel’s total market in Alberta is made up of first-time homebuyers and they believe they have the expertise and skill in coming up with some of the most functional, stylish, and affordable floorplans that suit the first-time buyers’ tastes and budget.

Take for example the new Archer Series launched in Edmonton. They are front-drive garage homes that are more affordable and helps families getting into the home market.

Available in Cavanagh, The Orchards, Keswick Landing and Citadel, these models range from 1,200-1,444 sq. ft., with three beds, and two-and-a-half baths.

Popular is the Archer 22, which has three beds, two-and-a-half baths in 1,323 square-feet of living space. It comes with plenty of options that stress efficiency and function.

“Excel Homes strives to make the home buying process easy and simple. Buying a home can feel daunting and overwhelming, especially a new home. But at Excel, we are with you every step of the way and offer great perks such as a move-in concierge, free legal fees and more!” Plank says.

For more information on what Excel Homes has available, go to exchelhomes.ca.

First Place Program

In Edmonton, even the municipal government is doing its part to encourage first-time homebuyers with its First Place Program. The First Place Program partners the City with banks and builders to develop vacant surplus school building sites into attractive townhomes targeted specifically at this market.

According to the City of Edmonton, 20 school sites in 19 neighbourhoods were declared surplus in 2006 and have been designated by City Council for the First Place Program. As of March 2020, 14 of the 20 First Place program sites have been developed.

Rohit Communities and Landmark Group develop properties for this program. First Place program opportunities do not extend to all new condominium townhouse projects under construction in Edmonton, only to those on approved sites and with approved builders.

Starter homes

Hopewell Residential has always prided itself in the homes and communities they offer, and the value and quality they put in all their products remains the same across the line. But starter homes are given added emphasis.

“First time buyers are important to Hopewell because we want everyone to be able to have a stylish, affordable home of their dreams, no matter what stage of life they’re at,” says Sue Carlson, Edmonton Sales Manager.

“With our wide variety of floorplans, features and finishings, we really do have something for everyone – and that’s one reason why first-time buyers make up almost 40 per cent of our purchasers across Alberta,” she adds. “You can expect creative design often found in more high-end homes, but with a Hopewell home they’re available for first-time buyers at an affordable price.”

Carlson says first-time home buyers can expect Master Builder quality, warranties on everything inside and out, a thoughtfully designed floorplan, and stylish finishing features that represent their personalities. “We know that when you’re buying your first home, it can be a daunting process, so we also offer complete price transparency before your sale is firm, which is unique to Hopewell. It’s an added benefit that goes a long way when making such a significant investment.”

She adds that first-time homebuyers can optimize their Hopewell home with exciting options like a legal basement suite for future revenue opportunities, chef’s kitchens for weekend gatherings, or home offices to make working from home easy.”

Hopewell’s showhomes in Secord, Citadel and Maple Crest display the wide range of plans at any budget they offer in Edmonton.

“Buyers can also make use of our multiple perks and promos included in our Hopewell Price Advantage program. These special offers like down payment assistance and registration discounts make buying a stylish new home more attainable. Plus, our services are backed by a team of experts who support new homeowners throughout their entire homebuying journey.”

For more information on Hopewell Residential’s floorplans and detailed pricing, homebuyers can go to hopewellresidential.com.