Get a move on with move-in-ready homes

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.

The builder spec home has been a tried-and-true industry standard. 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.

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 five to eight months to wait for their new home to be built. This also allows builders to keep their tradespersons busy.

Excellent timing

As in all of life, timing is a major part in the home-buying decision. Depending on a buyers’ circumstances, a spec home where they can move in relatively quickly might be better. Or if they have the time and customizing or personalizing the living space is important to them, then going the pre-sale route may be more applicable.

“It all comes down to what needs and priorities each client has,” says Tara Van Horn, Director of Marketing & Design at Coventry Homes. “Whether you build a pre-sale home, or buy a quick-possession home, you are still getting the benefits of a new home that no one has lived in before, along with the added warranty. You get the full value of your new home.”

The common misconception, she says, is that spec homes are of less quality. “That’s not true at all, at least the way Coventry Homes makes it,” she says. “One’s not better than the other, it simply depends on what the client needs at the time. Either way, both are new homes that have more value than, say, a resale home.”

Jayman BUILT Edmonton Sales Manager, Dalayce Keen, says buyers relocating from other cities or provinces see the spec home as most beneficial.

“One of the biggest advantages to an available home, is that it allows for a quicker move. Jayman BUILT sees many customers who are relocating from another city or province and a spec home allows them to move into a new home faster than building,” she says.

Finished product

A spec home – depending on the stage of construction you purchase it – has all the preconceived designs and options included already. Van Horn says Coventry Homes has the flexibility to offer a few changes to the buyers, depending on whether the home being constructed is already in the framing stage, or drywall stage, or if the foundation had just been dug.

“We make the decisions on which finishings to include in our spec homes based on real-time customer feedback that we get as one of Edmonton’s premier homebuilders.”

For a pre-sale home, the buyer does indeed get the freedom to select all the finishings they want for their home, which can end up a little more expensive depending on upgrades they get. “While for a spec home, we make those decisions ahead of time, so those costs are already incorporated in the price of the home,” Van Horn says.

Keen says Jayman BUILT also offers many spec palette options that are “(designed by our professionally certified interior design team) to choose from so that the homebuyer can find a model with the interior finishings that suit their taste.”

She adds that building a new home on the other hand allows for a personalized experience starting with the homesite selection, model, and thoughtful floor plan options as well as a wide array of interior design features so that every detail is handpicked by the customer.

“Whether or not you buy a Jayman BUILT spec home or a new home, you’ll get peace of mind that the comprehensive warranty program is included. As well as the energy efficiency inclusions that are incorporated into every home we build, offering significant cost savings in utility payments.”

Location’s role

Coventry Homes and Jayman BUILT offer their homes in some of the best communities in the Edmonton area. Having this ability plays a crucial role in their business. Coventry Homes says they build spec homes in all of their communities, and Van Horn says that for 80 per cent of the time, the spec home is sold before completion.

“Buyers looking for their home first check out the area, then the specific community and then the home,” she tells Edmonton New Home + Condo Guide, and it helps when the communities they are building in are already some of the best in the city. Coventry Homes says most of their spec homes are two-storey front-drive homes – the most popular home type – while their sister company, Impact Homes, offers laned homes.

“We make the decisions on which models of homes to build based on real-time customer feedback that we get as one of Edmonton’s premier homebuilders,” she says.

Jayman BUILT believes in offering a healthy mix of home choices to customers looking to move into a new home, Keen says. “We want to have a model and home style that suits everyone’s lifestyle and budget. We are currently building Front Drive and Laned spec homes in many of Edmonton’s best communities. We know that all homebuyers are different, with different tastes and needs,” she says.

“We ensure we choose our most popular models and options, as well as a variety of interior finishings to appeal to varying design preferences. Many of our spec homes are award winning models!”

Supply challenges

The red-hot new home market has seen some challenges crop up, as homebuilders have a hard time keeping a balanced inventory of spec homes, even as supply chain problems impact possession times of new builds.

“The beginning of 2022 saw unprecedented activity in the new home building market where demand for new homes was outpacing build times. As the year has progressed the market has begun to level out and supply has been able catch up to new home buyer’s demand,” Coventry’s Van Horn says.

“Buyers currently have access to specs that are ready for possession immediately or up to 90 days from now. While new home clients can expect their new home to take around 12 months from contract to move-in, depending on supply chain availability and issues.”

Jayman BUILT has not been immune to those challenges as well. But Keen says keeping customers up to speed with consistent communication on the progress of their home has been key. “Available spec homes can be move-in-ready in as little as two weeks, however Jayman will always work with a homebuyer to make the transition and buying experience smooth and easy, working within their time frame,” she adds.”

Additionally, Jayman BUILT has a limited time promo that allows customers to list their current home for free. “With the MLS market continuing to heat up, we are offering our new homeowners the opportunity to list their existing home with Jayman Realty with no listing fee for the month of June. Allowing them to get the most equity out of their existing home, as they prepare to move into their new home,” Keen says.

But what has been an advantage for all of Edmonton’s builder is that the city remains one of the most affordable cities in all of Canada to buy a new home.

Coventry Homes and Jayman have creatively positioned our opportunities for land and spec homes to have a consistent offering to homebuyers looking to secure a place to call home throughout Edmonton’s Best Communities.

For more information about Coventry Homes, go to www.coventryhomes.ca.
For more information on Jayman BUILT’s offerings, go to www.jayman.com