Cochrane is a wonderful community just east of the Rockies and just West of Calgary – and buying a new home here is something many families aspire to. Whether you’re already in town, moving from the City, or coming from another province like BC or Ontario, the draw to Cochrane Alberta is very real! This charming town is growing each and every year – exceeding the vast majority of other communities in Canada in terms of growth.
As Cochrane continues to grow, new homes are always big part of the real estate picture here. I’ve helped clients shop in every neighbourhood, and comparing options and really understanding what you get when you buy new from a builder vs. buying resale is very important.
In this article, I’d like to expand on a few experiences some of my clients have had when buying a new home in Cochrane. Specifically:
If you’re considering a home in Cochrane or looking at a specific listing – connect with me directly via text, call or email. No question is too small and I can guide you through the process!
I’ll start with the good up front:
In my honest opinion – real estate can be messy. Most of the time, we deal with resale homes. Properties can be years or decades old, and much of the “story” of the home has already been written. What went wrong, when, why is it *still* not fixed… you get the picture. In most cases we deal with a unique property that has travelled through time, and is being sold by a family or person who loves it dearly.
So as an agent, it can be hard selling what I would describe as an imperfect product. You have differences of opinion when it comes to condition, to inspection concerns, to cleanliness. And the lines aren’t always clear what it means for a Buyer making one of the biggest purchases of their life.
With a new build property, you get the real deal, made-to-order, for you. Any local builder worth their salt is trying their absolute hardest to deliver you the best home possible to build (at the price point) by todays standards. New materials, new workmanship, full-lifespan for everything you’re buying (with as few “question marks” as possible).
And the bonus: they tend to stand by their work. When you buy new, you often get to spend time with the trades and builder themselves, asking questions and adding input where possible. When possession time rolls around, we’ll do a walkthrough and they will ensure everything is perfect – even things you might have missed but they saw.
Oh – and did I mention you get a warranty?! That certainly takes the teeth out of caveat emptor (buyer beware).
How about what you DON’T get when buying a new home from a builder?
For this it really depends on the state of the property. When a home is being built, there are a lot of steps along the way where you as a Buyer get to learn more. You could buy a property in any state from 100% dream (merely renderings, plans, a dot on a map), to 99% reality (just awaiting finishing touches and ready to go).
With something like a home, I cannot stress enough how important it is to walk the space, feel the light, and understand your neighbourhood. So that can be tough to do with a home that is somewhere in progress, or worse – not even framed.
There can be a delay between your purchase and possession, sometimes of great significance. There may also be a discrepancy for how you feel when you see plans & renderings, versus how you actually experience the space and finishes when you’re there in the flesh.
Your home is a place that is special for you and your family, and in my opinion, the best homes aren’t just good when you move in – they get better with time as the features you love compound for you. Many of these features have nothing to do with newness; even the oldest home can become new again.
So it’s important to make wise choices when it comes to the factors that are unchangeable.
In any transaction, there will be two sides whose interests are diametrically opposed. How can a Buyer get the best price possible, and a Seller also get the best price possible, if they both want the best price?
Something every buyer should know is that the representative for the builder, including the Realtor/Agent who may be listing the property via the MLS/realtor.ca, has an obligation to work only in the best interests of their client – the Seller. As a person walking in off the street, you are only a customer to them; the Seller is their client and they owe a completely different set of responsibilities to their client.
In Alberta, you get to have your own Agent to assist you through the transaction, who by law must act only in your best interests. This means you get a professional in your corner to help ask the right questions, analyze the contract, and understand market conditions. The best agents will help you see the broader picture of what a certain home purchase could mean for you and your family, with only your goals in mind (not the Sellers’).
In most cases in our marketplace, before listing or advertising any property, Sellers agree to pay commissions to Buyers agents (even with new builds). So having your own agent (to whom you are the client) costs you nothing and evens the playing field between Buyer and Seller.
If you’re interested in seeing what Cochrane has to offer, let’s connect. I’m always available via text, call or email and happy to answer your questions or provide insights on the community, neighbourhoods, or any specific listing you’re seeing that piques your interest.
Cheers!