While some homebuyers only think of quick possession homes as being desirable in emergencies or rushed circumstances, there are many additional factors that make these properties well worth looking at.
Below are some important advantages of purchasing a move-in ready home; we think they’ll help you see them in a whole new light.
1. You Can Move In Sooner
This one’s pretty much a no-brainer. There’s a good reason quick possession homes are also called “move-in ready”. While most new homes can be built in under a year depending on the climate and on-hand supplies, buying a quick possession home allows you to begin setting up house in some cases immediately or in several months.
The closing processes of these homes take roughly as long as those associated with resale homes, making them ideal choices if your job requires you to relocate or you’re trying to coordinate your move-in date with the end of your current lease.
2. A Solid Protection Plan
A quick possession home allows you to enjoy the same perks as a presale home, but, as mentioned above, you aren’t waiting for a lengthy construction time. These homes carry the same warranties, meaning you’ll be getting the exact same coverage whether you buy a quick possession home or one you work with the builder on from the ground up.
With a quick possession home that’s completely finished, it’s preloaded with special finishes and details. This means your builder is much less likely to change the price – what you see is what you get!
When it comes to a property that’s still in construction and requires add-ons (presale or quick possession), prices can fluctuate. With all the home buying costs you need to consider, you may feel worried about moving past the confines of your budget. A completed move-in ready home eliminates this worry.
4. Pick the Builder of Your Choice
Whether you’ve heard great things from other homeowners about a certain building company or personally admire some of their completed models, you probably already know which one you’d like to build your home. With move-in ready homes, you not only get to move in sooner, but you often can also still opt for any builder you choose depending on their inventory levels.
However, while most home builders do build quick possession homes, not all do! And some builders only build a handful per year, so this could be a deciding factor for you. We always have quite a few move-in ready homes to choose from. When you want your new home fast, but still want the flexibility of choices, a broader selection is helpful.
5. No Unpleasant Surprises
No one likes the idea of purchasing something as important as a new home sight unseen, and for some buyers, it is out of their comfort zone. They don’t want to go off rendering and floor plan PDF’s, they need to see it with their own eyes.
If this is true for you, having the ability to tour the exact home you’ll soon proudly own is an absolute requirement. Since you can walk through a quick possession home, you can familiarize yourself with its physical dimensions, examine the finishes, see the backyard, and more. This way you can rest assured your money is being well-spent on a home you’ll be comfortable in for many years to come.
6. Make Minor Customizations
Some quick possession homes are still early in the process of being built at the time they’re purchased. In these situations, you might feel the desire to, and may be able to, add a few highlights of your own to your brand-new property!
This doesn’t include big architectural add-ons like extra bathrooms or bedrooms, but you could have the ability to add some minor enhancements to express your own personal style. Make sure to talk to your sales agent regarding making selections if this is important to you in selecting your home.
These customizations could involve features like indoor colour schemes, countertop finishes, or plumbing-related fixtures such as sinks and toilets. While you obviously won’t be able to add these things on for free, your move-in date will still be much sooner than it would be with a home that has yet to be built from the ground up. Instead, you get the custom look you want in your new home without all the work.
7. Neighbourhood Flexibility
Spotting the house of your dreams in a less-than-desirable neighbourhood doesn’t necessarily mean it’s completely out of reach. Most builders will build homes to sell as quick possessions in each new community they build in. So if you happen to spot your dream home in a community that isn’t in the area you want to live in, ask the builder about their move-in ready homes. You might find the builder offers an identical model in a different part of town.
Conversely, you may recognize the benefits of building in a new community and have your heart set on a particular one. Maybe there are no vacant lots left, but there may be completed/under construction homes still available for sale; quick possessions can be the key to moving into the community you have your heart set on.
8. A Great Investment
You’ll probably want to stay in your home for a long time, but if/when you do ever have the need to move, know that your quick possession home will most likely be an easy sale.
When it comes to reselling your home, there’s no real difference between a quick possession home and any other brand-new home. And because it’s brand-new, you won’t have to worry about any maintenance needed to pass a home inspection/ Plus, a brand-new modern-looking house that’s only a few years old is bound to have a lot more appeal to many prospective buyers than an older home.
9. Builder Incentives
Builders often want to sell a move-in ready home just as quickly as you want to move into one, so be sure to keep an eye out for any incentives or bonuses they offer. When you factor the money you could save against the price of the house, you might be surprised what you end up paying!
10. Have All the Bells and Whistles
Most good builders incorporate the trendiest layouts and finishes in their quick possession homes. It’s rare for these homes to be plain economy models since those aren’t as eye-catching to prospective buyers as homes with prized features and designs. As a result, quick possession homes generally don’t depreciate in value at the time of resale.
Whether the home you’re seeking is because you need more room for the kids or if you’ve just gotten that big promotion at work, move-in ready homes can offer convenience and affordability that would otherwise be hard to come by. And if you’re pressed for time and need to move in a hurry, they could be your saving grace.
*Originally posted April 11, 2018, updated January 4, 2019.