When it comes to choosing a new Calgary community, brand new developments might seem a bit unattractive. They’re not quite as polished as older developments, and you know you may have to deal with a little noise and construction over the next little while. However, there are also quite a few advantages to being one of the first homeowners to build in a new community. The benefits listed below might make it worth your while to get into a new development as early as possible.
1. Lot Selection
Anyone building a home in a development that’s almost full won’t have as many options when it comes to choosing a lot. Those who get the first choice often select the largest lots or the lots with the best views. If these things are important to you, you’ll want to jump at the chance to get in on a new development or phase. Also, most developers will have a long-term plan for the way they want the community to develop, so you can use this to plan ahead. The best view or most convenient lot today might not be in a year or two.
The biggest builder incentives often come at the beginning of a development, when the builder is working hard to create a large community that’s more desirable. Often, these incentives are upgrades or added features to the home, such as granite countertops, stainless steel appliances or hardwood floors. Sometimes, you can also get financial incentives, such as cash back on the purchase or having the builder pay the first year’s property taxes. These incentives can be a great way to get a bit more bang for your buck.
3. New Amenities
Builders are always looking to create new developments in the most desirable areas, so by getting into a new development early, you can be sure that you’ll be close to all the latest up-and-coming features such as new schools, new shopping centres, roads and transit hubs, and green spaces such as parks and playgrounds. And as the community grows, these features can only get better!
4. Introductory Pricing
One of the challenges of building in a brand new community is the uncertainty surrounding the final value of the home. For this reason, the first homes for sale in a new community can sometimes be cheaper than they would be once the same community is finished. Often as new phases are added to a development, the cost of a home goes up.
5. Increased Value
Speaking of value, because you’re getting a good deal by buying in early, the resale value of your home begins growing immediately. Not only will prices steadily increase, the curb appeal and new neighbourhood amenities should also naturally improve as the community nears completion. This ensures that by buying early, you’ll be in a much more favourable position to sell if you ever do decide to move.
6. Your True Dream Home
Everyone knows building a new home gives you the chance to design things just the way you want them to be. However, you may not be aware builders sometimes limit your choices when it comes to the exterior of the home. If all of the homes in a community were to have the same exact exterior, the effect would be boring and drab for curb appeal and property values!
To prevent this from happening, builders often place restrictions on the exterior choices. For instance, you may not be able to have the same exterior colour or design as the homes directly next to you. When you’re one of the first ones to build a home in a development, you are usually able to select from all of the options.
7. Building a Community
When you’re one of the first homeowners in a community, it gives you the opportunity to become a leader. Be the first to meet the new neighbours. Start a community tradition of Friday night barbecues. Create the community you always wanted to live in. If you build into the community once the neighbourhoods have been more established, it’s not as easy to create new community customs.
The thought of building in a brand new development may not seem attractive at first, but it’s worth taking a look at the advantages the builder has to offer. Visit one of our showhomes and ask a sales representative about current developments and the incentives you might qualify for if you build there. They can also connect you with one of our preferred lenders who can go through your financing options.
Download our handy showhome map and get out to visit one of our showhomes today.
Originally posted November 3, 2016, updated November 12, 2018.