Thoughts on Building new vs buying used - homes

[takethebounce]

Every situation is different.

If someone bought during the boom period they are going to not do as well as someone who has owned something for 15 yrs.

When I came to AB from BC in 2006 there was a large increase in home values within that first year which didn't seem to level off for a few years.

Entry level homes in mature communities do not drop as much as larger over inflated homes in desired areas for the most part. There are always exceptions to this.


I simply want a place with four walls and a roof. We would rather have a nice yard with a decent garage than nice finishings and upgrades.

There were a few comments not to build but i have talked to two builders who can get us into entry level homes wth double garages, one attached, one detached for $350k all in. They are community lots but not horrible. There are not many used homes in that range unless you are looking to go to some of the least desirable neighbourhoods in Calgary.

Makes it an appealing sell but listing now and risking not having a place to live for 7-8 months may present some challenges or list later and risk what the market will do in that time.




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[niner]

The City of Calgary - National Energy Code of Canada for Buildings

We have been told all new house builds must have Argon collection.

 

[250mark1]

We just sold our home in Blackfalds had the offer in 7 days and conditions removed in 14 days and got 98.5% of asking price
it all depends on the condition and price point of your home we sold for 279k we bought a brand new spec home from a local build on a large pie lot (10.5k sqf. Second man sized garage coming )the house had been sitting since spring and the builder had dropped 75k on original asking price

 

[takethebounce]

The City of Calgary - National Energy Code of Canada for Buildings

We have been told all new house builds must have Argon collection.

I had seen the provisions from 2015 mentioning that new homes would have to be roughed in for the radon venting if the home required it. In a new build it should not be costing a significant amount, considering a rough in bath averages $500. Retrofitting a pipe with power vent is running $2000-3000 from these Radon comanies and even then it is a pretty good mark up.

Interesting none the less.

 

[j335]

Cochrane is a nice area, we're building just outside of the place. I like the area better than any surrounding communities and it has nice character (over the Field of Airdrie).
Walk through the show homes of each area and take note of the people walking through there, those will be your future neighbours...

 

[dylandoo]

Every situation is different.

If someone bought during the boom period they are going to not do as well as someone who has owned something for 15 yrs.

When I came to AB from BC in 2006 there was a large increase in home values within that first year which didn't seem to level off for a few years.

Entry level homes in mature communities do not drop as much as larger over inflated homes in desired areas for the most part. There are always exceptions to this.


I simply want a place with four walls and a roof. We would rather have a nice yard with a decent garage than nice finishings and upgrades.

There were a few comments not to build but i have talked to two builders who can get us into entry level homes wth double garages, one attached, one detached for $350k all in. They are community lots but not horrible. There are not many used homes in that range unless you are looking to go to some of the least desirable neighbourhoods in Calgary.

Makes it an appealing sell but listing now and risking not having a place to live for 7-8 months may present some challenges or list later and risk what the market will do in that time.




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What price range would your home to sell fall in? Under $400k still moves really easily today as a lot of those people are downsizing into that product. By trying to time the market perfectly within a years range on a sub $400k home you are only talking about a difference of roughly $10k which isn't worth the risk or hassle... if you are looking within a 2 year period thats often a different story. If you can private message me the address or let me know what the old MLS number was, I can do a cma based on the listing when you bought it and tell you what its worth if you wanted to sell it in todays market.

I just finished a top to bottom reno on a house of mine in Glendale in the SW and I was thinking of possibly keeping it till spring and was going to try to time the market perfectly. if I waited I was guessing I could list at $719k (if all goes well) but in todays market I was thinking I could only list around $695k after calculating the potential risk/reward the potential extra 15k wasn't worth it in my opinion as I didn't want the market to go the other way and then get burnt.

 

[takethebounce]

Thanks dylandoo

I will send you a message when I get some time at work tonight.


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[j335]

FYI I sold using comfree and was listed on MLS. Payed the buying realtors commission and I was my own selling realtor. Saved me $10k and sold in a day.... Pros/cons to using a realtor for sure but to me was not worth $10k to hire one.

 

[snochuk]

Building new is great as you can easily make design changes. We made about $40K in changes to a $450K house Changed ceilng hieghts, moved walls, changed closets, upgraded trims in house, relocated house on lot and bigger garage and driveway size increased.

Just had to hound the chit out of the builder for quality.

Choose your builder carefully and you will have a great time customizing your "home"!
If you get what u want u are not in a rush to relocate......I hate moving.

Personnally I would build.

 

[dylandoo]

FYI I sold using comfree and was listed on MLS. Payed the buying realtors commission and I was my own selling realtor. Saved me $10k and sold in a day.... Pros/cons to using a realtor for sure but to me was not worth $10k to hire one.

Comfree works the odd time but in any given year I usually get around 10 comfree clients calling me to list their home cause they can't sell it. A couple of the times I took their listing and actually priced it higher then what they couldn't sell it at with comfree and sold it within a few weeks. How the MLS works is there is a buy and a sell realtor. Buy realtors bring the buyers to the sell realtors listings most of the time. That being said majority of realtors don't even send comfree listings to their buyers. Bottom line listing with comfree you are leaving money on the table. You may save 10k in listing fees but when you sell your home for 25k less then what a good realtor could sell it for are you really saving? Key word here though is good realtor. Like any industry there are some bad/lazy ones lol.

 

[takethebounce]

Well dylandoo you can list our place if you want to make a deal on the fees


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[j335]

Comfree works the odd time but in any given year I usually get around 10 comfree clients calling me to list their home cause they can't sell it. A couple of the times I took their listing and actually priced it higher then what they couldn't sell it at with comfree and sold it within a few weeks. How the MLS works is there is a buy and a sell realtor. Buy realtors bring the buyers to the sell realtors listings most of the time. That being said majority of realtors don't even send comfree listings to their buyers. Bottom line listing with comfree you are leaving money on the table. You may save 10k in listing fees but when you sell your home for 25k less then what a good realtor could sell it for are you really saving? Key word here though is good realtor. Like any industry there are some bad/lazy ones lol.

Explain to me why a buyers realtor does not want to show a comfree house if I pay their commission? Because I had a list of a dozen realtors wanting to see my place with their client so your logic there is incorrect.

There is absolutely no way a realtor can manually get $25k more for a house if it ain't worth that, this one of the most common misconception spread by realtors. Does a realtor get more visibility? Nope, both are on MLS and other realtors websites.

Realtors need to adjust to the sell yourself model, believe it or not this is the future.I've sold both ways and I won't spend my hard earned cash on a selling realtor again, buying realtor yes I have no problem using them as in my experience have been well worth it.

 

[j335]

Well dylandoo you can list our place if you want to make a deal on the fees


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Ha good for you! Any well priced house for sale should get a sellers realtor commission deduction!

 

[Murminator]

For myself i have a tough time with new homes sure they are nice and modern but for $450-$500K you are getting around a 2000sq 2 storey which is almost like a mobile home stood on end...I'm an old fat guy and I hate stairs. Then there is the fact the streets are narrower they are so crammed in you can stand on your front step and knock on the neighbours door or have a BBQ on your deck and your neighbours join the party because they are only 8' away. They you go upstairs look out the back window and the back yards looks like a feed lot perfect postage stamps.
I will gladly take an 80's or early 90's house they are usually 2000sq bungalows huge wide yards huge basements if i want to always climb stairs it will optional not to run up and down stairs to the bedroom cause i forgot my watch, wallet, keys etc. The neighbourhoods are more mature the schools and infrastructure is already there. Sure they need some updating because most are peach, teals, greys, oak just the lots and the neighbourhoods are the reason why I wouldn't go new....unless i'm building on an infill lot

 

[takethebounce]

I have no desire to spend $450k + on a home. It's just not a priority for us to have excess money invested into an home. I would rather have a 1200 sq ft home and a 1200 sq ft shop lol.

One of the new builds we looked at is a bungalow. On a lot wide enough for a double detached and a RV pad. The location just isn't as desirable for us that's all.


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[arff]

For myself i have a tough time with new homes sure they are nice and modern but for $450-$500K you are getting around a 2000sq 2 storey which is almost like a mobile home stood on end...I'm an old fat guy and I hate stairs. Then there is the fact the streets are narrower they are so crammed in you can stand on your front step and knock on the neighbours door or have a BBQ on your deck and your neighbours join the party because they are only 8' away. They you go upstairs look out the back window and the back yards looks like a feed lot perfect postage stamps.
I will gladly take an 80's or early 90's house they are usually 2000sq bungalows huge wide yards huge basements if i want to always climb stairs it will optional not to run up and down stairs to the bedroom cause i forgot my watch, wallet, keys etc. The neighbourhoods are more mature the schools and infrastructure is already there. Sure they need some updating because most are peach, teals, greys, oak just the lots and the neighbourhoods are the reason why I wouldn't go new....unless i'm building on an infill lot

To get a large lot now is expensive.
Ours is 55 feet.
Now some are 20 feet zero lot line.

The newest area in Leduc was supposed to have big lots.
I looks at the street plans at work and all small lots.

Another option is buy a older house on a big lot. Sell the house to be moved and build new on the lot.


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[dylandoo]

Explain to me why a buyers realtor does not want to show a comfree house if I pay their commission? Because I had a list of a dozen realtors wanting to see my place with their client so your logic there is incorrect.

There is absolutely no way a realtor can manually get $25k more for a house if it ain't worth that, this one of the most common misconception spread by realtors. Does a realtor get more visibility? Nope, both are on MLS and other realtors websites.

Realtors need to adjust to the sell yourself model, believe it or not this is the future.I've sold both ways and I won't spend my hard earned cash on a selling realtor again, buying realtor yes I have no problem using them as in my experience have been well worth it.

If if you want to sell your home yourself with comfree go for it. Most people when dealing with the biggest asset of their lives usually don't mind spending a couple k on hiring an expert to sell it. I'm just telling you what has happened I have sold old comfree houses listed them for more and sold them within a week while they sat on comfree for months I don't simply use the mls put a sign up and hope for the best like comfree. I have a network I've built over the last 7 years. But yes the odd time if you under price a home and use comfree it does sell so choose whatever service you like, really doesn't affect good realtors either way! Ex comfree clients are always the most difficult because they think they know everything so most realtors stay away from them anyways lol. I sell roughly a house a week and own numerous properties so therefore I know real estate. I'd never walk into a mechanic shop and try to tell them what to do. Yes I know the basics of how to work on my cars/trucks but im by no means a skilled mechanic and I would never pretend that I am one lol

 

[dylandoo]

Well dylandoo you can list our place if you want to make a deal on the fees


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I will give you the snow and mud discount lol. Shoot me a message and I'd be happy to make something work!

 

[takethebounce]

I will give you the snow and mud discount lol. Shoot me a message and I'd be happy to make something work!

Around here that's typically minus 10% plus 12.5% lol.

Just started calling realtors to get an evaluation. Will follow up with you. Thanks


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[j335]

If if you want to sell your home yourself with comfree go for it. Most people when dealing with the biggest asset of their lives usually don't mind spending a couple k on hiring an expert to sell it. I'm just telling you what has happened I have sold old comfree houses listed them for more and sold them within a week while they sat on comfree for months I don't simply use the mls put a sign up and hope for the best like comfree. I have a network I've built over the last 7 years. But yes the odd time if you under price a home and use comfree it does sell so choose whatever service you like, really doesn't affect good realtors either way! Ex comfree clients are always the most difficult because they think they know everything so most realtors stay away from them anyways lol. I sell roughly a house a week and own numerous properties so therefore I know real estate. I'd never walk into a mechanic shop and try to tell them what to do. Yes I know the basics of how to work on my cars/trucks but im by no means a skilled mechanic and I would never pretend that I am one lol

I agree I've seen poorly marketed ex comfree houses not get sold and then get sold for a realtor.
I've also seen houses with a realtor on the market for a long time, move to a different realtor then get sold so this is not an accurate comparison to comfree at all! There are houses in our neighbourhood that have been on the market for months and I come with comfree list $8k below their overpriced house and sell in a day at the high end of the price range that was researched by myself/comfree/realtor all within the same range. Therefore a realtor would have resulted in less money in my bank account with my transaction. But hey I wish I would have known about your network that pays $25k above what a home is actually worth, darn maybe next time!!!

Don't mean to nag on realtors I just find some of them want to be so negative about the sell yourself model and they tend to make up non factual statistics based on their one sided opinions. Pay the buyers realtor commission and I see no issues with this business model.

Good luck in your future endeavours!