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Morrison's Guide to Quick Possession Homes in Calgary

Home School Home Buying Tips

As you start your journey towards purchasing a new home, you’re probably learning about the different buying options available to you. One of those options are quick possession homes which offer the unique advantage of being brand new and ready to move into quickly.

In this guide, we’ll cover what quick possession homes are, the pros and cons of buying one, and the steps to take when making a purchase. Let’s get into it!

What does Quick Possession Mean?

A quick possession home is a new home that is either in the process of being built or has already finished construction. These homes are made to the highest homebuilder standards and get their name from the fact that they’re available for possession much quicker than a new build home.

You can usually move into a quick possession home in Calgary within 1-4 weeks, which is quite the contrast to a new build home which can take anywhere from 6 months to a year.

Like new build homes, everything is brand new inside and out.

Pros & Cons of Buying a Quick Possession Home

As with many things in the home buying world, there are pros and cons to each home buying option. Here are the most important ones to consider when it comes to buying a quick possession home!

Pros

Cons

  • Little to no wait time

  • No lot choice

  • Meets new home building standards

  • Lack of personalization as selections are usually already completed

  • You can purchase a home within your budget

  • Upgrades are more limited

  • Homes are already built with trends and features at the top of mind

  • Little to no customization of floor plan

  • Selections have been carefully chosen by design consultants

  • Less time to save for a down payment

  • Fewer appointments and decisions than with a new build home

  • You can see the nearly completed, or fully completed home before you buy it

  • Covered under the protection of a third party new home warranty program




How To Buy a Quick Possession Home in Calgary

Now that you know more about the advantages and disadvantages of buying a quick possession home in Calgary, what steps should you take next? We’ve got you covered!

Decide if a quick possession is the right choice for you

There are tons of great advantages to buying a quick possession home. However, it’s essential to consider all factors when deciding if it’s the right choice for you.

Are you ok with your personalization options being more limited than they would with a new build home? Are you ready to move on a tight timeline?

Ask yourself these questions and be as realistic as possible when deciding if a quick possession is the right choice!

Use the provided point of contact and schedule a walk-through

At Morrison, we have a specific point of contact for each of our quick possession homes. This appointed area manager is available to answer your questions and help you through the buying process.

Contact them to learn more about the status of the quick possession home you’re interested in and to schedule a walk-through.

Estimate your move-in date

While it might be called a quick possession home, there can still be time between when you start shopping for your home and when you move into it. Estimate your move-in date by leaving time for things like completing legal paperwork and securing a mortgage loan.

A buffer of at least 1 month is usually best. However, your area manager will be able to help determine exactly how much time you’ll need.

Check to see if there are any remaining selections to be made

Before you make your decision to purchase a quick possession home, speak to your area manager to see if any remaining selections need to be made.

Some quick possession homes will still be in the process of being built. However, if it’s early enough in the process, you can work with the design team to make the remaining choices and add a personalized touch.

Ask about the warranty program

Warranty is an essential part of any new build home, but you should clarify the details around it so you don’t run into any surprises later on. Morrison’s warranty program includes a 4 and 12-month inspection and 1, 2, 5, and 10-year warranty coverage.

We’re Here to Help

Interested in purchasing a stunning new home with a speedy move-in date?

At Morrison, we have quick possession homes in Calgary that are ready when you are! Be sure to check out our list of brand new homes available for quick possession here and get in touch with an area manager for a walk-through.