Welcome to GoVanCity: Vancouver's virtual guide

After many years of saying no to impulse buys and lavish holidays, you’ve finally got the cash to build a home.

govancity - the ultimate vancouver virtual guide

If you’re a realtor, property manager, owner or developer, InTheHood offers the ultimate property presentation!   Our slick one page property sites includes a custom designed property presentation along with a comprehensive presentation for the surrounding area & neighbourhood.

You can check us out at https://inthehood.ca, where you can search for a great local business, find a place to live or stay or simply learn more about some of the great neighbourhoods in Calgary & Vancouver.

Welcome to InTheHood.ca the ultimate neighbourhood guide!  Surf through our website and find comprehensive guides to each neighbourhood in Calgary & Vancouver, along with slick virtual guide for local businesses, shops, services, real estate, rentals, new home construction and so much more!

Our business directory is the packed full of some of the hottest local businesses in Calgary and Vancouver.  All of our directory listings comes complete with an immersive 360 degree virtual tour, professional photos, mapping, contact details, reviews, deals & promotions and an online store for each retailer.

If you’re a local business in Vancouver or Calgary, advertising your business on InTheHood is very easy.  You can get your business listing online within minutes and start promoting your business to 1000’s of visitors each day!   Our featured business package comes with 360 degree virtual tour and pro photos, both of which you can use on your website and your online marketing.  Check out our latest listing with The Man Cave Barber Shop in Yaletown!

Now, you face the small task of working out exactly what home you’d like to build. And the first step of that journey is deciding whether you’d prefer to build a spec home, or a new build.

One’s not necessarily better than the other. But you’ll probably find that one is a better fit for your personal situation. Here’s what you need to know to work out which one that is.

What is a spec home?

A spec home is a brand new property that is completed, or nearly completed, before it is sold. The home’s layout and flooring and its appliances and features are chosen by the home builder, not the buyer. This makes for a much simpler and cheaper planning and building process, but, if you go for this option, it also means you will own a house that is almost identical to numerous others.

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What is a new build?

A new build is a home that is built from scratch, based on architectural drawings that take into account the buyer’s input. New builds are more customisable than spec homes, but involve a longer planning and building process, meaning buyers have to wait longer to move into their new home.

Take a look at the pros and cons below, to help you decide which one is right for you.

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What are the pros and cons of buying a spec home?

Pros

  • While you may not get to choose every detail of a spec home, this option can offer excellent value for money.
  • Instead of spending months doing the research yourself, or having to pay a design firm, professional designers will have already found the right combination of architecture, colours and finishes to create a beautiful result.
  • Some spec home builders use familiar blueprints and have greater purchasing power, which means they pass significant savings on to the buyer. Many high-end items you find in spec homes today – such as European appliances, stone bench tops and timber flooring – can be very expensive if purchased individually.
  • Then there’s the added benefit of simpler financing. Buying a spec home could mean avoiding complex lending structures and progress payments, as the majority are sold with settlement upon completion.
  • Knowing when you can move into your new home is another bonus, as it will either be completed or well under construction.

Cons

  • Depending on the phase of construction, many of the design decisions will already have been made for you, which means you will have less say on the final product.
  • Your home will very similar to many other homes built by the home builder.
  • The design might include features you don’t need or want, which could drive the price up slightly.

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What are the pros and cons of building a new build?

Pros

  • With a new build, you sit down with your architect or builder and design a home suited to your specific needs and preferences. Some builders have a library of base plans, so you don’t necessarily need to start from scratch, either.
  • You can generally choose the number and types of rooms you want, as well as the colours and finishes of walls, doors, floors, cabinets and appliances – even the placement of interior lights, switches and TV points.
  • Features that are important to you can be built into the property, and you don’t have to pay for the things you don’t need. Your home will be perfectly tailored to your style and budget.

Cons

  • When building a home, you can be faced with delays and uncertainty. From developing plans to finding a suitable site and waiting for council approval, your move-in date might be months away.
  • During that time you may experience further delays and budget overruns due to weather or construction issues.
  • Then there are your finances to consider: You might need to secure additional financing in the form of a bridge loan to pay for construction costs, while paying your existing mortgage. This situation may not appeal to some home buyers.

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Whether you go with a new build or spec home will depend on your personal needs and preferences. If you’re the type of person who enjoys being involved in every step of the way, a new build might be the way to go.

But buyers who want to avoid a lengthy construction process and would prefer a quicker move-in should probably opt for a spec home can be an excellent option.

That said, when looking to build a new home, it pays to consult with an experienced builder – one who has a proven track record, is customer focused and is financially secure.

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