When your heart is set on buying a brand new home with a certain budget, the next big question to answer is when to move in. In today’s market, a variety of new communities are complete and ready to welcome homeowners within the next week or few months. On the other hand, some new residential developments offer pre-sale two to three years in advance of completion. Ultimately, this choice of timing depends on what works for you, your personal situation and preferences:
ADVANTAGES OF BUYING PRESALE
Early Selection If you have specific preferences in home style (top floor, corner home, etc) or require modifications, buying a home before construction is usually the best way to go. During presales, buyers also have the choice of colour schemes and/or various options such as wood flooring. In some neighbourhoods, builders offer a menu of upgrades to customize your home right down to your appliances, plumbing fixtures, lighting and cabinetry.
Delayed Mortgage Presale will work best for you if you are planning to build up your finances over a few years to work towards your final downpayment. Not having to start your mortgage right away also allows flexibility if you need to sell your existing home or hunt around for the best financing. Buying presale is also a great way to ease into homeownership especially for first time buyers.
ADVANTAGES OF MOVE-IN READY HOMES
See What You Get If visualizing a floorplan is difficult for you, touring the exact new home will give you certainty of the final layout, colour scheme, size, and views. You will also have a chance to experience the finished building and how the architecture, landscaping and amenities work together to create a new and livable community.
Enjoy Your Home Immediately Finding your new home is exciting, but even more exciting when you can enjoy it the very next day. This situation is very beneficial for growing families who need more space, or downsizers who require immediate one level living. Moreover, moving into a newly completed communities with retail stores gives you the benefit of having immediate conveniences at your doorstep.
In the Lower Mainland there are a number of options no matter which timing is right for you. If you need to move in right you can choose from completed new communities like Vantage by Embassy in Brentwood, Avra by Epta Properties in White Rock, Pinnacle Living False Creek in Vancouver and a multitude of others. Additionally, if presale better suits your needs, you can find virtually any time frame. Modern by Amacon is scheduled for late 2014, Harmony by Townline Properties in Richmond is likely completing in the Fall of 2015 and if you are comfortable with even more time, MThree by Cressey in Coquitlam just started construction and is scheduled to be ready in the Winter of 2016, just to name a few.
[PICTURED: Vantage by Embassy is a completed community in the Brentwood neighbourhood of Burnaby. Happy home owners have already moved in but there are still a few great homes available. Come visit the sales centre in the finished building and tour through a fully furnished display home and explore the common amenities.]
