To build or to buy — that is the question. When it comes to purchasing a home, there are numerous factors to consider including cost, time, location and means for customization. At the crux of these considerations are whether it’s more viable for you and your family to invest in a new-build home, or purchase one that comes with a quicker move-in. And as a home purchase will likely be your biggest investment, it’s important to understand the differences and advantages of each. Read on to learn more about buying a quick move-in or new-build home and how they weigh into your home buying decisions.
What’s a Quick Move-in Home?
A quick move-in home has either partially or fully completed construction, and will be ready for you to occupy soon. Finishes have been pre-selected by our team of designers.
What’s a New-Build Home?
A new-build or pre-construction home can be selected from the catalog of our well-crafted floor plans in their designated community. They provide the opportunity to add personal touches and customizations right from the start of the homebuilding process.
1. Time
One of the biggest determinants in your decision to purchase a new-build or quick move-in home is the amount of time you can dedicate to your home search. Your timeline can be influenced by a number of factors including new job opportunities, the start of the school year or a new addition to a growing family. If time is of the essence, quick move-in homes are the more feasible option as they offer couples and families quicker closing options.
If searching for a quick move-in home, consider getting approval from our preferred lenders prior to beginning your home search; this will make the process go as smoothly as possible and allow you to obtain a quicker closing and move-in date. With new-build homes, we are with our buyer from the very first steps of floor plan selection, to design appointments and frame walks. Building a new-build home tailored to our buyers’ needs is our top priority, so we make sure that we provide time to deliver exactly what they’re looking for and give their home the attention to detail that it deserves.
2. Budget
With the assistance of our experience sales professionals, we can work to find the perfect home for our buyers within their current budgets. In select communities, we have pre-packaged design boards to help buyers select the package of their liking, obtain immediate pricing, and provide a quicker build time on new-build homes. On the other hand, buying a quick move-in home will allow you to get a more accurate estimate of the home’s total cost based on current interest rates; use a mortgage calculator to help you determine cost.
While buying a quick move-in home may run you slightly less, that doesn’t mean that purchasing a new-build home will break the bank. Often, what runs a new-build home higher is what homeowners choose to spend on upgrades; some choose finishes that can overshoot their budget, but this can easily be avoided with adequate budgeting. Another advantage of buying a new-build home includes the chance to beat the rest of the market to an up-and-coming community.
3. Location
One of the biggest considerations when purchasing a new home is deciding where to live, and what you’re looking for location-wise will influence whether you choose to buy a new-build or quick move-in home. Newer developments generally mean that amenities and facilities will be built in tandem with new home construction. These developments offer greater choice of owning a new home in an urban centre, small town or more pastoral setting.
4. Design & Customization
When deciding whether a new-build or quick move-in home is best for you, it comes down to convenience versus customization. A new-build home will allow you to add your creative input and design your home the way you’ve always imagined, from color and finishes to material selections. Quick move-in homes may have more structured floor plans, but offer the luxury of convenience if you find one that suits your lifestyle and preferences.
In the End, Go With What’s Best For You
To ensure that your home search is as effective as possible, it’s important to determine whether a new-build or quick move-in home is better suited to your needs early on. Don’t worry, you’re not alone — we have trained professionals to guide our buyers through every process and make their homebuying journey as seamless as possible.
For more homebuyer resources, including the differences between buying a new home versus resale, click here.