- Joined
- Nov 9, 2008
- Messages
- 21
Hey guys, I was not totally sure where to post my question, so I figured general should cover it.
A little background I guess, I currently live in Red Deer AB and am going to be moving to Calgary. I have one property in Red Deer already, its a suited house that cash flows $1100/month.
This place in Calgary I am looking at buying is for me and my future wife to live in personally. Its a two story half duplex, that`s 1340sq/ft on two floors.
Its located in Auburn Bay in the "Echoes" area. For those who do not know this area, there is a brand new hospital currently being built and is due to open in late 2011. This is a cool bonus for my soon to be wife, as she is currently finishing her 3rd year of her nursing degree and living a few blocks away from work would be awesome! As well I think having the hospital near by would help keep the value up on the property.
Heres the kicker, every Rein meeting Ive been to is very against buying un-finished properties, and keeping the emotion out. But do to this being a Home for me and my family to come, There is already a level of emotion that cant be left out. This property is not finshed yet, but is due to be done in July this year. The foundation is poured, and Framing is partially up as of two days ago when I was last there. The company is asking $312,000 for the house, and has a "promotion" of $13,000 which can be used for upgrades, or cash back at possesion, or it can be put towards the downpayment which is also nice for us. As we are currently saving and paying for a wedding, we cant come up with the downpayment in time. The sales person did say that they would be open to an offer, as the house is being built as a "spec" home and we wouldnt be able to pick all the trim, cabinets, etc... The property is on the end of row, and has a very large lot in comparison to the rest. Its 72ft across the front and 12ft at the back and 110ft long, vs 25ft wide and 110ft long.
So my questions are this;
1. What are some things to watch out for when buying new that might not be obvious?
2. How come they can have a $13,000 cash back?
3. With building cost`s being cut down in todays economy, how can a person go about getting the best price?
4. What is a fair price for a house like this?
5. Would the hospital being built have any effect on this area?
Any other comments or questions would be greatly appreciated!!
Thanks guys!
Ross Neufeld
A little background I guess, I currently live in Red Deer AB and am going to be moving to Calgary. I have one property in Red Deer already, its a suited house that cash flows $1100/month.
This place in Calgary I am looking at buying is for me and my future wife to live in personally. Its a two story half duplex, that`s 1340sq/ft on two floors.
Its located in Auburn Bay in the "Echoes" area. For those who do not know this area, there is a brand new hospital currently being built and is due to open in late 2011. This is a cool bonus for my soon to be wife, as she is currently finishing her 3rd year of her nursing degree and living a few blocks away from work would be awesome! As well I think having the hospital near by would help keep the value up on the property.
Heres the kicker, every Rein meeting Ive been to is very against buying un-finished properties, and keeping the emotion out. But do to this being a Home for me and my family to come, There is already a level of emotion that cant be left out. This property is not finshed yet, but is due to be done in July this year. The foundation is poured, and Framing is partially up as of two days ago when I was last there. The company is asking $312,000 for the house, and has a "promotion" of $13,000 which can be used for upgrades, or cash back at possesion, or it can be put towards the downpayment which is also nice for us. As we are currently saving and paying for a wedding, we cant come up with the downpayment in time. The sales person did say that they would be open to an offer, as the house is being built as a "spec" home and we wouldnt be able to pick all the trim, cabinets, etc... The property is on the end of row, and has a very large lot in comparison to the rest. Its 72ft across the front and 12ft at the back and 110ft long, vs 25ft wide and 110ft long.
So my questions are this;
1. What are some things to watch out for when buying new that might not be obvious?
2. How come they can have a $13,000 cash back?
3. With building cost`s being cut down in todays economy, how can a person go about getting the best price?
4. What is a fair price for a house like this?
5. Would the hospital being built have any effect on this area?
Any other comments or questions would be greatly appreciated!!
Thanks guys!
Ross Neufeld