Squamish is a Growing Community: Tips for Buying Homes in New Developments

(September 14, 2015 )

With the growth of Squamish and the expansion of neighbourhoods, new and old, there is a rise in demand for newly constructed homes. If you’re considering purchasing a home in a new development, there are a few things you should keep in mind.

1. Hire a professional real estate agent. Although it’s not a requirement, working with a qualified real estate agent can greatly reduce any potential snags that can often come up when buying a home – new or not. But with homes in new developments, there are several options and a few extra considerations that need to be addressed. A buyer’s agent can make sure the upgrades and other home features you’ve agreed upon are clearly outlined in your purchase contract, as well as help with price negotiations.

2. Weigh the pros and cons of the available options. When you buy new construction, you have a few different options to choose from. You can either buy a brand new home already built on spec or you can choose a semi-custom home and have them build it on an available lot within the community. As a third option, you can go for a completely custom-built home that is constructed to your specifications. 

Each of these options carry certain pros and cons. Brand new homes that are already constructed for instance, offer all the benefits of a home that’s never been lived in but you won’t have the luxury of choosing specific design elements or features. If you want to have a little more control over your home’s design, a semi-custom or completely custom home may be the better option for you.

3. Pay attention to the surrounding area. If your prospective home is in a newly built neighbourhood, you should do a little research on the surrounding area. Is there more development planned in the future? If so, are the developments likely to affect your home’s value? How close will the home be to things like schools, medical facilities, shopping, etc.?  These are all things to consider when purchasing a home in a new developed area.

4. Be sure to tell your agent you’re interested in new construction and have them accompany you when you visit properties. Newly-built homes in new developments are typically listed by a listing agent who works for the builder. If you have your own agent, make sure he or she comes with you when you visit a home for sale in a new community.

Speak with Scott W Todd about your real estate property needs.