Make the move with quick possession homes
December 12, 2022
Building a new home can require a lot of patience. It can take as long as 10 months (sometimes longer) to move into a pre-sale home, and not everyone has the luxury to wait that long. But there’s an easier way, and that’s by getting into a quick possession home.
The quick-possession home - or spec home – is an industry staple that provides buyers on a tight timeline the opportunity to own a new home and helps the builders themselves keep their tradespeople busy with a steady workflow. It’s a win-win.
These homes are constructed using builder specifications (hence, “spec”) and most are move-in ready and available for a quick possession. The last couple of years, however, saw supplies of spec homes depleted to almost nothing as a hot homebuying market took hold, coupled by supply chain interruptions.
The spec home pool in Calgary has since stabilised and experienced builders were well prepared for the eventuality, relying on veteran leadership, a reliable trade base, and deep pockets for a steady supply of construction materials. Here is how some were able to navigate the choppy waters and have new spec homes ready for buyers that need them.
Like any homebuilder worth its salt, Excel Homes maintains a stable inventory of quick possession homes in Calgary, Airdrie and Cochrane. “Excel has approximately 35+ quick possessions in over 11 Calgary and area communities,” says Excel Homes Marketing Manager, Kristina Plank.
“Prices range from the mid $400s (the Magnolia in Chinook Gate in Airdrie), to the mid $800s (the Jasper in the southeast lake community of Mahogany),” she adds.
“We’re always planning for the future with our quick possession homes and executing on those plans when the timing feels right. We try to pick the home models that resonate the most with our customers in terms of what is the most popular,” she adds.
“From there, we’ll pick the most requested options and upgrades that offer the best value for the customer right now. There are times when we’ll decide to create a quick possession from a new home model as we feel it’ll help customers get a sense of that home in person.”
Excel Homes currently has quick possession homes for laned, front garage and semi-detached models in Calgary and area.
“We are offering quick possession homes in the northern Calgary communities of Carrington South, Homestead, Livingston and Savanna,” Plank says. “In the south, Excel offers these homes in Mahogany, Rangeview and Walden with Creekstone coming soon. Additionally, we are also offering quick possessions in Airdrie at Chinook Gate and Cobblestone Creek and also in Heartland in Cochrane.”
One of its most popular models is the Newbrook, and Plank says they have one ready for quick possession in Mahogany. “Since its release in 2021, our customers have really gravitated towards this plan since it offers a spacious kitchen area, flexible interior spaces and a large master suite with ensuite,” she adds.
Excel’s quick possession Newbrook model in Mahogany features a stunning mid-tone palette of grey, light browns and soft whites illuminated by wealth of natural light let in through the big windows and accentuated by the nine-foot heigh ceiling.
Excel also just opened a brand-new sales centre in the new community of Rangeview in SE Calgary. “We will be launching a diverse entry selection of fan-favourite quick possession homes including the Newbrook, Collingwood and Windsor in time with our 35th anniversary celebrations next year. Interested parties can book an appointment to see these when they open, and you might even fall in love with our current show homes while you’re there.”
Find out more at excelhomes.ca.
Jayman BUILT has built a reputation on its value-added homes, and its line of quick possession homes – some of which are available for move-in for the Holidays – are just as laden with the most desirable features.
“With a move-in ready or quick possession home, you have a shorter build time and can get in quicker. Either the home is ready or nearing completion,” says Michael Klassen, Sales Manager, Jayman BUILT.
“Spec home buyers also get the benefit of one of our professional interior designers having selected the colour palette and finishings in your home, so you know it is going to be stunning!”
Another advantage is that these homes can allow buyers a better mortgage rate. “Purchasing a quick possession home allows the purchaser to lock in their mortgage rate quicker, eliminating the risk of increasing interest rates,” Klassen says.
Jayman BUILT has over 50 quick possession homes available in Calgary. “This includes our pre-planned spec homes, which do still have a quick possession move-in date, within six months, but is not yet a home under construction. This option is great for our customers, as they are our most popular models and most popular options with professionally curated colour palettes, across all the communities we build in.”
Jayman BUILT does have approximately five homes that are available to move in before the end of this year, he points out.
“We have Seton Street Towns starting in the $480’s, Laned homes starting in the $480’s and front attached garage homes available from the $640’s. All prices include home, lot and GST,” he says.
Find out more about their quick possession homes and more at jayman.com/quickpossessions.
“The quick possession program at Trico is a crucial part of the service we want to provide to prospective homeowners,” says Trico Homes’ Director of Sales, Carmen De Luca.
“Due to the high volume of sales that we saw last year, a lot of builders including Trico sold through their quick possession inventory very quickly,” she adds. “Having a strong quick possession program at Trico is really important to the overall success of the company and something we pay close attention too. We always want to make sure that we have quick possessions homes available for buyers in all of the communities that we build in, this way if a buyer does not have time to entertain a full build then we have a second option for them. The Sales team carefully selects which lot, model, options we add to the home and one of our interior designers selects the interior colour package. We always do a great job and make it a very easy process for buyers.”
Trico currently has 29 quick possession homes available for purchase in the greater Calgary area from the $500,000 to $875,000 range. These include townhomes, laned, duplex, front garage homes.
The Bellview is a 1,540 sq. ft., three-bedroom, two-and-a-half bath laned home, and it is among Trico’s most popular models. They have one ready for quick possession in the community of Chelsea in Chestermere, just east of Calgary.
“This affordable home is excellent for first time homebuyers with an affordable price tag and located near excellent amenities. It’s a short four-minute drive to Stoney Trail and 20 minutes away from downtown and available in the low $500,000s,” says Ali Tahir, area sales manager in Homestead.
The advantage to buying a quick possession home, he adds, is that buyers get all the benefits of owning a brand-new home without having to wait for construction timelines before moving in.
Another major advantage for buying a quick possession, she says, is for families that are moving here from out of province. “By choosing a quick possession, they are able to alleviate some of the decision making in the construction and interior design process and still be able to move in quickly to a brand-new home with modern finishings.”
Trico Homes is currently offering a 90 Day Sale promo they say is “the most cost-effective way to get into available homes.” Tahir says. “They also reduce risks with rising interest rates as they can be locked in with current market rates.”
He adds that there are only a few weeks remaining in this 90 Day Sale promo. “We have homes available now that you can move into before the New Year. This is the perfect opportunity for those looking to get away from the hot rental market, move to Calgary from out of province, or get into a new home for the end of the year.”
About Pepper Rodriguez
Pepper Rodriguez is a writer, editor of New Home + Condo Guide's Calgary and Edmonton editions.