HOW TO BUY NEW CONSTRUCTION WHEN REAL ESTATE HUNTING IN THE CITY OF WINNIPEG
Many homebuyers in the city of Winnipeg, Manitoba are on the lookout for newly constructed homes. There are plenty of reasons for this. However, none are more prevalent than that of home buyers wanting to move into something turnkey. A brand new, move-in-ready home appeals to retirees who are looking to lessen their workload. They also appeal to young, growing families. Mostly because they are far too busy to take on a renovation or fixer-upper project.
Whatever the reason, homebuyers who opt to write offers on new home construction should be aware of the types of new homes that are available. They should also be aware of what to look for when going ahead with a new construction home purchase.
We have compiled a quick reference guide on the types of new construction that can be found in Winnipeg. In addition, we have some information on who should comprise your home buying team. Plus, what you need to do to ensure that you are making a sound decision before your agent writes up the offer.
THERE ARE THREE TYPES OF NEW CONSTRUCTION THAT CAN BE FOUND IN THE WINNIPEG REAL ESTATE MARKET.
WHICH ONE WORKS FOR YOU?
If you are considering new construction as a purchase option in Winnipeg these are the three types that you will most likely encounter.
- Builder spec built homes
- Semi custom-built homes
- Full custom-built homes
Spec homes are great for homebuyers in Winnipeg who want something new and don’t want to wait.
Spec homes are generally built by a Winnipeg builder based on a stock home plan, layout, and color scheme. Builders of spec homes know the market and what buyers want. As a result, they build homes to sell quickly. Homes are built to completion in an effort to attract homebuyers who are searching specifically for something brand new. This is either because they are interested in a home warranty or simply because they don’t have the time or inclination to work on a fixer-upper. Winnipeg spec homes are almost always priced to sell and will often fall into the midrange of what the average family home sells for. Of course, this is depending on the neighbourhood and the quality of finishings.
Newly constructed semi-custom homes are another great option when assessing what type of new construction is right for you.
Semi-custom homes allow you a little bit more flexibility when choosing your countertops, cabinets, fixtures, and other finishing details. These are arguably the features that make your house a home. If you are interested in getting involved with a semi-custom built home then you will be responsible for choosing your finishings along with other small decisions. Semi-custom homes allow for more flexibility between the builder and the buyer.
If you want your home to fit with your own personal Winnipeg lifestyle then you might want to explore a custom-built home.
While it is rare to find a custom-built home that lasts too long on the Winnipeg real estate market, there are opportunities within some of Winnipeg’s greatest master-planned communities to build your own on a lot of your choosing. Custom-built homes put the decision-making in your hands. This means that you will be responsible for choosing everything for your home. A range of items will require your input from the colour of your roofing material to what type of heating options should be used. While a custom-built home takes longer to build than a semi-custom or spec home, homeowners are often satisfied with their investments.
If you’re interested in buying or selling a spec, semi-custom, or custom home in Winnipeg then get in touch! We would be happy to discuss what to look for when shopping for a newly constructed home in our city.
Contact us if you want to discuss our real estate services to help you find a new home in Winnipeg today!