Although 2020 has been a bad year for the real estate market globally due to the rampaging Covd19 pandemic, the picture in specific regions and countries is better than the rest.

For example, Calgary’s housing market remained steady, and despite the weaknesses in some particular segments of the market, the recovery of total sales remained under 1% of the total sales of 2019.

Although there was a reduction in activity during March/April when the pandemic was at its peak, it made up well by achieving a higher than average level of activities during the later months. However, the projections of future growth are weak because of a decline in inventory that is likely to impact months of supply. 

After reading so far, you might wonder if it is the right time to focus on some new construction homes for sale Calgary to pick up some choicest property at a lucrative price. It is never wrong to invest in real estate, provided you can time it right.

In real estate, timing can be everything. By using your experience and insight about the real estate market’s movements and considering the ground realities, you should be able to determine when it is the right time to buy a home in Calgary.

The timing can have a significant impact on the range of homes that are on offer, its price, and how easy it will be to move into the new home at that time


Timing is most important 

Like homebuyers in any part of the world, Calgary March and April home buyers would focus on finding the right property. Still, the value of the property will be a decisive factor about investing in it. 

Considering that the economy is now gradually recovering from the impact of the Covid19 pandemic, one can hope for the restoration of normalcy in the near future.

If you are among the new home buyers in Calgary, this article should help you learn how to determine the best time of the year to start your search for a new house. To ensure that your efforts in new home search bear fruit, timing will make all the difference. 

The Calgary real estate market

Having some idea about how the Calgary housing market performed in the last decade will help better understand the current situation and foresee the future.

Over the previous decade, Calgary witnessed a boom in new construction, and most of the development happened in the multi-use residential units and office spaces, and commercial properties.

The thriving local economy has been the driving force behind the boom in the Calgary real estate market, which benefited from the high employment rate that expanded the base of new home buyers. 

These factors continue to support the real estate market’s growth, which could even withstand the shocks of the Covid19 pandemic that resulted in an economic downturn.

As prices have remained stagnant and there has been a decline in inventory, this can be your opportunity to fulfill your dreams of buying a new house. 

Getting ready to buy a new construction home

When buying a new construction home, you must know the tricks of the trade that are different from buying a resale home.

Since it is a new home, the absence of any previous owner means that the seller, who is typically a real estate agent or builder, does not have any emotional ties with the property.

This is an advantage to buyers as it eliminates the chances of emotions influencing the property’s price. It applies to all new properties, whether you are building it up from the ground or ready for quick possession. 

Secure your finances

Based on the above, you would like to work out a budget and even obtain a mortgage pre-approval from a lender that should help determine the price band within which you can focus your home search.

Include all additional costs that you can foresee, like upgrades, property taxes, insurance, landscaping and maintenance, and furniture, which should be part of the total cost of acquiring the property.

Having secured your finances, you are now ready to make the first move.

Research builders and communities

When buying a new construction home, it is best to work with a real estate agent who is familiar with the neighborhood and can help during inspections and the closing process.

The agent being a third party does not have an obligation to protect the builder’s interest but would only try to protect your best interests. It should help you make the most informed decisions.

Browse the internet to get a feel about the neighborhood and communities, and driving around the place will help understand the amenities available. 

Visit the planner’s office to gather information about the development plans of the area. For the builder’s credentials, refer to the Better Business Bureau website. 

Consider the inclusions and exclusions

What is included in the property’s cost and what you must pay extra are things to find out to arrive at the total price to pay.

The upgrades you will see with model homes might be features already included or additional packages to pay for. The builder should provide a cost sheet explaining what comes with the basic price.

Based on the details, compare every model home feature to ascertain what is complying with the standard and what does not. Obtaining the detailed specification from the builder should help in comparing.

Arrange for a home inspection

It will be wrong to assume that new homes are perfect. New homes, too, might have some flaws, including structural defects that are not visible.

A complete home inspection by a professional home inspector or agency will help ascertain the property’s exact quality, which helps to justify the price you are paying.

If there are some lacunae, the inspector can give an idea about the cost for setting it right.

 Most importantly, you can negotiate a better price and arrange for rectifying the problems before entering the home.