As an investment real estate is probably the top choice. When it comes to first time buyers looking into the housing market here in Ottawa there is plenty to choose from. The choices range from pre-owned to newly constructed models. Granted, as a first time buyer, there is little room for designing a custom home. This is due to a lack of knowing what it is they need in a home.
In most scenarios, first time Ottawa buyers will shop around until they find either a pre-owned home or a newly constructed house that meets their immediate needs. An advantage that new constructions holds is that they are move-in ready, complete with furniture, and appliances, when negotiations allow it. This type of home is genuinely discovered during the shopping process while it is still under construction yet close to completion, (recognized by the trade as a Spec house).
Move-in Ready, (Spec), Houses
As stated these are houses that they are almost complete, when a potential owner finds them. What makes these houses stand apart is that they meet the immediate needs of the buyer and therefore, once the buyers puts a bid on the house, by the time all paper work is finished so is the house. What makes them great for a quick sale is that the design is structured after what seems popular through the experience of the architect and the builders.
There are advantages and disadvantages, however. Looking at the benefits first, we can tell that in the Ottawa housing market, there are always people looking for a fast moving process to move into a new home and with the move-in ready spec houses this works out well for all involved. When a buyer finds a house they want, that is close to completion, the builder will work with them on the choices of flooring, paint, or other finishing touches that strike the fancy of the buyer.
Looking at the disadvantages we see that the house has a pre-planned layout and room design. However, to this point we can say that it is at most a minimal issue. This because the overall design is what attracted the Ottawa buyer to the particular model in the first place. Another drawback may stem from the point at which the house had been discovered. This translates into meaning that some of the finishes may have been already installed, thus giving little chance for change.
Nevertheless, looking at new homes in Ottawa that are in the near completion stage gives the first time buyer the chance to adjust the finishing touches to a point and have the house ready when they are ready to move in.