The advantages of buying a spec home in Calgary

Buying a suit tailored to suit your specific needs is always nice, but if you need the suit right away chances are there isn’t time to wait for a custom made one. Such is also the case when it comes to homes.

Building a new home from scratch where you get to choose everything from the floorplan to the finishes is the ideal many new homebuyers hope for, but sometimes the timing isn’t right, and they need to move in right away. This is where the spec home or move-in-ready home comes handy.

But what is the difference between building a home of your own from scratch or buying a pre-made one? Turns out there really isn’t much.

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

The builder spec home, or quick-possession 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.

The surging demand for new homes in Calgary, spurred by the influx of newcomers to the city, has kept builders on their toes recently trying to maintain an inventory of ready-to-own homes, but there are still plenty of opportunities around, and some might be even available to help buyers celebrate the New Year in a new home.

Perks of a quick possession home

For home buyers on a tight timeline, the quick possession home is the easy answer, but it’s more than just that.

“Quick Possession or spec homes are perfect for buyers who want the perks of a brand-new home without the wait,” says Morrison Homes Marketing Manager, Max Conrad. “You get all the advantages of a fresh build—modern design, full warranties, and top-notch features—while enjoying the quick possession timeline of a resale home. Move in right away or within just a couple of months!”

“Spec homes offer the advantage of a shorter purchase to move-in timeline, making them an excellent option for homebuyers seeking efficiency or who need to sell an existing home prior to making a purchase.,” adds Mike deBoer, Vice President of Homebuilding at Genesis Builders Group. “Right now, Genesis has a limited supply of some of our most popular home models available for immediate possession.”

Buyers can also get a great deal buying a spec home, as builders offer plenty of incentives for them. “Right now, Trico Homes is doing its ’60 Day Sale’ offer for our line of spec homes,” says Trico Homes Director of Marketing, Glenda Schwartz.

“Trico Homes has a great selection of duplex, townhomes, laned, front garage, semi-estate & ultra-estate homes all available for quick possession. These 30+ completed homes all come with the most popular features & upgrades and they’re ready for you to move in,” she says.

The right time

Timing can be a crucial factor in determining the purchase of your new home and considering that this is likely the biggest investment of your life, everything must go just right. A spec home can help in the decision.

Building a new home from scratch where you get to choose everything from the floorplan to the finishes is the ideal many homebuyers hope for, but not everyone has the time to wait for it to be finished. Time constraints can press buyers who need the ability to move to a new home quickly, and in this situation the spec home is a perfect alternative.

deBoer explains that Genesis is continuously perfecting the art of creating spec homes, carefully selecting everything from the location to the features and finishes. “We’ve spent a lot of time understanding the preferences of home buyers,” he shares with Calgary New Home + Condo Guide.

Conrad says spec homes allow the buyer to move into the right home at the right time. “Aside from making your own selections, buyers get everything they’d expect when building a new home—complete with the same new home warranty and post-possession support!”

There’s no uncertainty when it comes to price, either, says Schwartz. “Buyers get the home they want, at the time they need, on a budget that is set.Quick possession homes are fully priced, so you won’t have to worry about any unexpected costs prior to moving in.”

Genesis Builders Group

Genesis currently has approximately 40 spec homes available across various stages of construction in and around Calgary, deBoer says. “We have a mix of front drive, laned, duplex and townhomes available as specs,” he adds.

Their spec homes are available to purchase in Airdrie (Bayview, Bayside, Newport), Calgary (Homestead, Lewiston, Vermilion Hill, Alpine Park, Logan Landing) Cochrane (Fireside), Chestermere (Clearwater) and coming soon to Rockyview County (Harmony). “Depending on the stage of construction, the purchaser may be able to add personalization options while taking advantage of a shorter possession timeline,” he adds.

Prices are very competitive, and their final stacked townhome spec in Newport is at $379,900. Check their website genesisbuilds.com/quick-possessions/ to get the latest.

Morrison Homes

Morrison Homes spec homes come in a variety of styles - laned, front garage, and even estate options! “Our inventory is constantly changing, so be sure to check back often if you’re looking for a specific model or location,” Conrad says.

Their spec homes can be found in the southeast communities of Pine Creek, Belmont, and Legacy; while in the north, Morrison Homes spec homes are in Livingston, Glacier Ridge, Rockland Park and Cornerstone.

“Our quick possession homes are priced similarly to our new builds, meaning you can move in sooner while locking in today’s prices and mortgage rates—it’s a win-win!” Conrad says. Find out more at morrisonhomes.ca.

Trico Homes

Spec homes from Trico range from townhomes, duplex, front-garage and laned Homes. “We offer them throughout our 27 communities in Calgary and surrounding areas, including Cochrane, Chestermere, Okotoks & DeWinton, Schwartz says.

Quick possession homes can be found in our 27 communities throughout Calgary and surrounding areas, including Cochrane, Chestermere, Okotoks and DeWinton.

“We have quick possessions available for immediate, 30-, 60-, 90-, and 120-day possessions,” she adds. Prices start $477,000 and up. Find out more at tricohomes.com.