In today’s buyer’s blueprint, we will be exploring the key differences between a presale and a quick possession to help you confidently make a decision on what home fits your needs.
· What is a presale?
· What is a quick possession?
· What costs more: presale or quick possession?
· What is the timeline difference?
· Can I still receive the first-time homebuyer GST Rebate if I purchase a presale or a quick possession?
What is a Presale Home?
A “Presale home “refers to a home that is currently in the early stages of construction or not yet built. Sometimes referred to as “building from scratch.” In presale homes, if the buyer purchases their home before construction begins or early on, they can choose interior and exterior selections, floorplan, lot, and make minor structural changes.
Benefits of a Presale home
- Customize selections to your liking
- Lock in today’s price for a future home
- Move in 6-8 Months
What is a Quick Possession Home?
A quick possession home is a brand-new home that is fully completed or nearly complete, and you can move in within 90 days or less. Often referred to as “Move-in Ready Homes “ or “Immediate possession”. Quick Possession homes feature predetermined finishes, making them ideal for buyers looking for a brand-new home without going through the construction process.
Benefits of a Quick Possession Home:
- Shorter possession timeline
- No construction delays
- Brand New Homes without the wait
Which option costs more: Presale or Quick Possession?
Neither option necessarily costs more; it depends on the buyer’s preferences.
Quick possession homes offer upfront pricing; what you see is what you get, with no surprises.
Presales have a base price, with the final cost increasing as upgrades are added.
One option doesn’t necessarily cost more than the other. With a quick possession home, pricing is set up front, so what’s included is clear, you’re essentially buying exactly what you see. With a presale, the home starts at a base price, and the final cost depends on the upgrades you choose. One advantage of a presale is that you’re locking in today’s price for a future build, with both the builder and buyer committing to that pricing before construction begins.
What is the timeline difference?
With presale homes if you purchase before construction begins, the build typically takes around 6–9 months. If you purchase during the early stages of construction, possession can be much sooner — sometimes as quickly as 3–4 months.
A quick possession home typically offers a 90-day or less timeline, and in some cases, even immediate possession, allowing you to move in right away. If you’re on a tight timeline, a quick possession home is often the better option.
What option is right for me?
A quick possession home is ideal if you’re working with a shorter timeline, want a brand-new home without waiting through the full construction process, and prefer to see exactly what you’re purchasing.
A presale may be the better fit if you have a more flexible timeline, want to lock in today’s pricing for the future, and enjoy being involved in the design and building process.
Both options offer exceptional value, the right choice ultimately comes down to your timeline, priorities, and personal preferences.
Explore our current Presale Homes and Quick Possession Homes to find the perfect fit for your needs.
