Build from scratch or move in quick in a move-in ready home, that is the question being asked by a lot of homebuyers today. Is there a difference? Not much, in the sum of things, but like everything else in life, timing is everything.

Building a pre-sale home means building from scratch where the buyer gets to choose everything from the floorplan to the finishes. In many ways, it is the ideal many homebuyers hope for, but not everyone has the time to wait for construction to finish. This is where the move-in-ready or quick possession home (also called spec home) comes in, as it is probably the best option for someone on a tight timeline.

The builder spec home has been a tried-and-true industry standard. A move-in-ready or spec home is industry speak for a home that is built before a homebuyer makes a purchase. It is constructed using builder specifications (hence, “spec”) and most are move-in ready or at least available for a quick possession.

Spec home advantage

But what is the difference between building a home of your own from scratch or buying a pre-made one? Turns out there really isn’t much.

Both are new homes that no one has lived in before. The main difference is the time of possession. Building a new home can require a lot of patience. These days it can take more up to 10 months (sometimes longer) to move into a pre-sale home, and not everyone has the luxury to wait that long. Homebuilders offer spec homes as a perfect solution to the timing problem buyers may have. This also allows builders to keep their team of tradespersons employed and busy.

“Spec homes offer a fantastic opportunity for new homebuyers who are looking to move quickly without compromising on quality,” says Tara Van Horn, Director, Marketing & Communications at Coventry Homes.

“These homes are already constructed or near completion. This means you can see and walk through the actual home you’re buying, ensuring there are no surprises.”

Excel Homes Marketing Manager, Kristina Plank, says that if time is of the essence to the homebuyer, then a move-in ready home might be the most advantageous option.

“Spec homes are already under construction or nearly move-in-ready, allowing buyers to take possession much sooner compared to the six-plus months a pre-sale build might take,” she points out.

Brookfield Residential also have a healthy inventory of move-in ready homes on the go, and Marketing Manager Jenna Rilling says they provide the perfect opportunity for buyers looking for a quick move.

“Whether you’re relocating, downsizing, or have had a life change (new job, growing family, etc.), quick possession homes let you transition sooner and settle faster,” Rilling says.

Specifications of a spec home

New homebuilders have extensive knowledge of design trends and the most popular finishes in the market, and this knowledge is applied to each spec homes they build.

“Excel Homes carefully pre-selects trendy finishes and cohesive design palettes, eliminating the stress of having too many choices that can sometimes overwhelm homebuyers,” Plank says.

“In a market with rising home prices and fluctuating interest rates, purchasing a spec home offers peace of mind and price certainty.”

For Van Horn what some may lose in customization options with a pre-sale home is made up by convenience in a spec home. “Unlike building a home from scratch, which allows for full customization of floorplans and finishes, spec homes are designed by our expert team and built with popular layouts and features that suit a wide range of lifestyles,” Van Horn says. “Buyers can still enjoy a brand-new home with beautiful finishes just without the decision fatigue.”

Rilling says quick possession homes by Brookfield Residential are styled by professional interior designers, so the selections chosen are timeless, beautiful and are proven to be durable. “It is also a more simplified process with less stress, and everything has been decided making the process smoother.”

She adds that many of their most popular upgrades have already been thoughtfully included in their quick possession homes. “From on-trend flooring and stylish cabinetry profiles to functional features like basement suites in select models, we’ve taken the guesswork out of the process.”

Competitive pricing

Pricing between a pre-sale and a quick-possession home are on par most of the times, but there are some things buyers must be aware of.

“In general, the pricing between a spec home and a presale home is comparable, although it really depends on the specification level, upgrades, and location,” Van Horn says. “One key difference is that the price of a spec home is fixed and known upfront, which offers peace of mind and makes budgeting easier. With a presale, the final price can vary depending on the structural and design selections a buyer makes throughout the process.”

Van Horn adds that there can be a cost advantage when purchasing a spec home as builders can often negotiate better pricing on materials and labor, which can translate into savings for the buyer.

Plank has a different take, saying a pre-sale home can seem more cost effective at first, since buyers choose the finishes, but upgrades can also add up quickly. “Spec homes, on the other hand, may come at a slightly higher upfront price due to their move-in ready status, but they often include popular upgrades. In the end, the overall cost is often comparable, but spec homes offer the added advantage of immediate value and faster possession.”

Rilling says prices really depend on what features are put into each home. “All homes by Brookfield Residential are thoughtfully and efficiently priced to ensure you receive exceptional value without compromising on quality, style, or features.”

Availability across Edmonton

The Coventry Group Company offers spec homes in many of the Edmonton region’s most popular new communities.

Currently, Coventry Homes has over 50 spec homes available across Edmonton and the surrounding area at different stages of build, Van Horn says. This includes a mix of single family detached, duplexes and townhomes, ensuring there’s something for every buyer and budget.

“We continue to build spec homes because they serve a crucial need in the market. Many buyers don’t have the luxury of time to wait 9–12 months for a custom home, especially those relocating, growing their families, or needing to align with the school year. Having a strong inventory of spec homes allows us to meet demand quickly, while still offering homes that reflect our commitment to quality and design,” she says.

Excel Homes equally offers a huge selection of spec homes across five Edmonton communities: Edgemont, Vita Crystallina, Keswick Landing, The Orchards, and its newest community, Alces.

“Our spec home lineup includes front garage homes, laned homes, and duplexes, providing a variety of options for different lifestyles and budgets. We continue to build spec homes to meet Alberta’s growing demand. With high in migration and quick market turnover, many buyers are eager to secure a home before interest rates or prices rise,” Plank says.

“Spec homes provide immediate value, faster possession, and eliminate the uncertainties of starting from scratch, while also allowing us to build more efficiently,” she adds.

Rilling says Brookfield Residential has quick possession townhomes, front garage duplexes, starter and front garage homes. “Our inventory includes a range of home styles and interior selections to help you find the perfect fit without the long wait. Building quick possession homes is essential to ensuring we can accommodate our buyers’ unique needs, timelines, and budgets.” They are available in the communities of Paisley, The Orchards, Edgemont and Chapelle Gardens.

Most requested upgrades

If buyers still can’t decide between a pre-sale and a spec home, maybe more information on what kinds of upgrades are the most popular can help make the decision easier. After all, these popular upgrades are what builders use most of the time in their spec homes already.

Plank says the upgrades they are seeing strong demand for is the side entry to the basement, basement suite rough-ins, or even a fully finished basement suite (where permitted).

“These features are ideal for generating rental income or supporting multi-generational living. Another popular addition is a main floor bedroom with a full bathroom a thoughtful option for families looking to accommodate aging parents or extended family members with ease and comfort.”

As far as aesthetics goes, Plank notes that buyers need to focus on upgrades that improve daily living and long-term value like kitchens, flooring, or a basement suite. “Structural changes should come first since they’re harder to add later. Think about your lifestyle and budget, and don’t hesitate to ask your Sales Team for guidance on what’s most popular and practical.”

For Brookfield Residential, the most popular upgrades typically revolve around the kitchen as it is the heart of the home. Upgrades to cabinetry, appliances and flooring are always very popular. Brookfield Residential ensures that popular upgrades have been added to many of their homes. “For a limited time, additional upgrades like full landscaping and decks or garages, are included with every Brookfield Residential single-family home,” Rilling adds.

At Coventry, Van Horn says the most requested upgrade involves cabinetry. “Cabinetry changes remain our most popular upgrades. From additional pot and pan drawers in the kitchen, banks of drawers in bathroom vanities, to custom feature drawers such as a garbage pull-out are all smart upgrades to do as they are not easily added or changed after.”

On the style side, Van Horn notes that black and brushed gold plumbing fixtures and cabinet hardware are in high demand. “These bold accents give any space a more curated, contemporary feel.”

And finally, stained railings are a beautiful way to add warmth and richness to a home’s interior, especially when matched to flooring or cabinetry finishes, she adds.

Her advice in picking the upgrades is simple. “Start by identifying what matters most to your lifestyle. Do you love to cook? An Executive kitchen might be worth the splurge. Do you have pets or young kids? Durable flooring should be high on your list. We also recommend considering resale value, upgrades like enhanced kitchens, bathrooms, and flooring tend to hold their value well.”

Find out more atcoventryhomes.ca, brookfieldresidential.com, and at excelhomes.ca.