building a new house in calgary

[forreal]

hey guys does anyone know which community in calgary has lots avaliable to build a house in? every where i go i keep hearing...sorry no more lots
thanks

[R_Ethug]

Re: building a new house in calgary

right now is a bad time to build/buy.. wait 6 more months if you can

[forreal]

Re: building a new house in calgary

oh serious? its for my grandpearnts, thats what my pearnts told them too but they wont understand...they want one fast...any suggestions as to which community to look into?? thanks

[Klobi-One-Kinobi]

Re: building a new house in calgary

I got lucky. A couple's financing fell through on a lot in auburn bay, and I snapped it up that day.

Like Ryan said, its tough right now, but its not going to get much better any time soon. Best bet is to visit showhomes as often as possible and hope for the best.

[Khyron]

Re: building a new house in calgary

Some people are buying without even looking at it first, others are camping out over night. It's nuts. Gonna be lots of forclosures when interest rates go up a couple points.

Khyron

[hifiguy]

Re: building a new house in calgary

oh serious? its for my grandpearnts, thats what my pearnts told them too but they wont understand...they want one fast...any suggestions as to which community to look into?? thanks

Even if you find a lot to buy, a quick build in this city would be 9 - 12 months. If they want something quick they ought to buy an existing house and not build from scratch.

[Volinder D]

Re: building a new house in calgary

right now is a bad time to build/buy.. wait 6 more months if you can

I wouldn't do that if I were you, I'm building 2 houses right now. One to live in, one to sell. The one I'm selling has gone up here in Tuscany approx. $100 000. In my opinion, waiting 6 months will cost you a heck of a lot more.


On a side note, I am selling my second house here in Tuscany. It's currently under construction and can still be modified to choice. If your interested PM me.

[forreal]

Re: building a new house in calgary

damn the house markets gone crazy here in calgary...ill keep visiting showhomes in the meanwhile...thanks guys

[forreal]

Re: building a new house in calgary

I wouldn't do that if I were you, I'm building 2 houses right now. One to live in, one to sell. The one I'm selling has gone up here in Tuscany approx. $100 000. In my opinion, waiting 6 months will cost you a heck of a lot more.


On a side note, I am selling my second house here in Tuscany. It's currently under construction and can still be modified to choice. If your interested PM me.

my grandpearnts found a lot in chesterme i think..thanks guys

say if i was to build a house in chesterme, and then sell it once it gets built, will there be still profit made from that sale?? is the house market in chesterme as hot as calgarys?? thanks

[stefan]

Re: building a new house in calgary

chestermere... i would think so, it will likely be calgary in a few more years. I cant be sure though.

[Volinder D]

Re: building a new house in calgary

my grandpearnts found a lot in chesterme i think..thanks guys

say if i was to build a house in chesterme, and then sell it once it gets built, will there be still profit made from that sale?? is the house market in chesterme as hot as calgarys?? thanks

Although not as hot as Calgary, Chestermere is doing great. Definately will see a return on investment by building in Chestermere.

[Canadian Turbo]

Re: building a new house in calgary

My mom knows some builders in Chestemere and they are selling out there lots for the month in only a couple days, so I think your Grandparents will do just fine!

[NeonGTI]

Re: building a new house in calgary

Do NOT wait to buy anything. If you are in a position to buy do it as soon as possible. Six months will only bring much higher prices and shorter supply on materials and labour. If you want to wait for prices to level out in accordance to wages and the economy in general you will be waiting another 5 years, easily.

Fun examples from within the last year(ish):

I sold a condo of mine last October for $115,000, today my other condos in the same building are going for $175,000.

A condo I have ownership in was purchased in August for $215,000. It was appraised for re-financing at the beginning of the month at $295,000.

Another unit I bought a share in 2 months ago was purchased then for $160,000, owner occupying was offered $200,000 over the weekend by a random walk-up.

My house was appraised at $239,000 in December 2004 was re-appraised at the beginning of the month at $380,000.

A client of mine is a high end home builder and their costs of materials and labour have been rising at 2% - 3% per month for the last 12 months. Prices of new start homes have been increasing nearly 5% per month.

Furthermore we are no where near the per square foot value of TO, Van, or Houston (we are currently around 60% of those values), and we have a higher per capita income.

Buy anything and everything you can get your hands on and do it yesterday.

[James]

Re: building a new house in calgary

ya, waiting is just shooting yourself in the foot. I bought a year ago for 165 (townhouse) and Id expect to get 200 now...in 6 months Id expect 210, 215..who knows, but it aint goin down any time soon

[R_Ethug]

Re: building a new house in calgary

james i paid 155 for mine.. a few in my hood are selling for 260!!!!