June 2014

Should you buy a brand new home that you can customize, or choose a resale one that's move-in ready? Both options present advantages, and there is no right answer, it's totally up to the buyer. We've outlined a couple benefits of each:

Buying New

• Personalized home: with new homes you can choose the colours, fixtures and upgrades such as lighting and flooring
• New homes are built up to current building codes and standards
• Lower maintenance costs: newer homes tend to have lower maintenance costs as all of the materials are brand new
• Builder warranties: the majority of home builders offer warranties for new homes

Buying Resale

• Easy access: homes in established neighbourhoods are in close proximity to services, parks, schools, etc
• Home

An area home buyers often forget to budget for is closing costs. Whether you're selling or buying Northwest Calgary homes for sale, there will be certain costs associated with the finalization of the transaction that you should be prepared for. This is a brief rundown, and just a guideline, your REALTOR or broker can provide you with more exact numbers. 

For Buyers: 

Costs can range from 1.5 to 5% of total purchase price, excluding sown payment. For example, a purchase price of $250,000 would yield:

• Inspections: $400-$500

• Mortgage application (could be waived) $200-$400

• Mortgage insurance $2000

• Legal fees $900+

• GST (for new homes only) - varies

• Home and content insurance $450

• Moving and/or storage $500 

For Sellers: 

Costs can