The spec homes hold the key for new home buyers

They may not be as flashy as a showhome, but spec homes may just hold the key for new homebuyers looking get into an on-time and on-budget home.

The builder spec home has been a tried-and-true industry standard. A quick-possession or 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.

It is a crucial option for buyers on a tight timeline, as building a new home from scratch can take several months before a buyer can take possession. Spec homes give the buyer a head start on the buying process.

We spoke to a few of Calgary’s most recognizable builders to get their insights on the spec building standard, and help buyers decide whether building a new home from scratch or buying a spec home is the right move.

Expert advice

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, and it’s a better option than resale.

“Quick possession homes are pre-built homes that are ready to move in and have been designed by our professional interior decorators,” says Trico Homes Director of Marketing, Glenda Schwartz. “Buyers gain all the benefits of buying and living in a new home, but with a stress-free and faster building process.”

“A spec home allows for homebuyers to enjoy all the benefits of purchasing a new construction home, without having to wait as long as if they were to go through the entire homebuilding journey themselves,” says Janelle Jalali of Cedarglen Homes.

Ron Kerr, sales Manager at NuVista Homes, says spec homes are a much better option than a resale home.
“Buyers receive a brand-new home complete with a new furnace, hot water tank, roof, and more importantly that has the latest building codes. This provides the customer with all these amenities on a timeline comparable to that of a resale home, which might need some renovating or updating,” he says.

“Additionally, depending on the construction stage, they may even have the opportunity to personalize the interior with their preferred color selections. Furthermore, spec homes are typically further along in the construction process, allowing for a more precise estimation of possession time frames, which gives customers greater peace of mind.”

Cedarglen Homes

When a homebuyer purchases a spec home with Cedarglen Homes, they still get all the same high-quality finishings’ the one would get with a pre-construction home. “The only difference with a spec home is a shortened, simplified homebuilding experience,” Jalali says.

Cedarglen Homes typically has anywhere from 8-15 spec homes available at a given time. “These numbers may fluctuate throughout the year, so we encourage prospective homebuyers to check back on our website often to see what is available,” she notes.

Cedarglen Homes typically offers spec homes in all the communities that they build in. “We currently sell paired homes in Glacier Ridge and Rockland Park; laned homes in Livingston; and front-drive garage homes in all our current communities.”

They offer everything in their repertoire as a spec home, including the popular three-storey She points out that the advantage to purchasing a Cedarglen Homes quick possession is that you can own a home that comes with a warranty package. “We offer one year for labour and materials, two years for delivery and distribution systems, seven years for building envelope protection and 10 years for major structural components. Find out more at cedarglenhomes.com.

NuVista Homes

The new home market in Calgary is currently enjoying some of the highest demand it’s seen in years, despite the higher interest rates. And now that interest rates are edging down, NuVista Homes believes this might be the best time to get into a new home, and spec homes might just be the answer.

“The Calgary real estate market is flourishing with growth in our population, allowing customers to move into a home with the potential to grow its equity while enjoying home ownership,” says Ron Kerr, Sales Manager at NuVista Homes.

Their line of spec homes is an easy way to get into the market, especially with their curated quick possession option.

“We have 60-plus homes in various stages of construction including some that are complete show homes,’ he adds. Their spec homes include everything from front garage duplex, front garage on zero lot lines, front garage move up, and even estate homes. “We have some rear detached garage homes too,” he says.

“We try to have a selection of spec homes in all our communities including the surrounding areas Chestermere, Langdon, Harmony, Airdrie and Cochrane.” Find out more at nuvistahomes.com.

Trico Homes

At Trico Homes, the spec home is about providing homebuyers extra convenience, Schwartz says. “We’ve already made most of the complicated decisions for the buyer – like choosing a homesite, home model, and model options,” she says, but that doesn’t mean the buyer can’t have input into their home design. “If they buy in the earlier stages of the build, they may be able to make certain selection decisions as well.”

Spec home buyers also get the benefit of enjoying a professionally designed home. “Our quick possession homes are beautiful for a reason – all the model options, colour palettes, light fixtures, and other finishes are carefully chosen by our professional interior decorators,” Schwartz says. Another benefit is that they are already fully priced, so buyers don’t have to worry about any unexpected added costs prior to moving in, she adds.

Whether you’re looking for a cozy bungalow, a larger multigenerational family home, an investment property, or a secondary suite with separate entrance for additional income, Trico has a variety of spec homes to choose from. “Our designs are both modern and functional, ensuring that your home is not only beautiful, but also practical for your lifestyle.”

Trico builds in 27 communities in the Calgary area, so finding one to suit your lifestyle and location needs isn’t a problem. All of their quick possession homes also come with Trico’s New Home Warranty Coverage. “This includes coverage on finishes throughout the home for the first year, labour and material defects for two years, the exterior shell for five years ,and the structural frame and foundation for ten years,” Schwartz says.

“We currently have 16 spec homes in various stages of construction, and we are adding more each day,” she adds. To see the full list visit https://app.tricohomes.com/quick-possessions.