If you’re in the market for a new home, should you pursue a custom home design or purchase an existing home? Each one has unique advantages, and in this guide, we’ll walk you through the ins and outs for complete clarity.
Existing Homes or Custom Home Design: What’s Better for You?
We may be passionate about the many benefits of custom home design, but ultimately, we always want what’s best for you. We recognize that designing and building a home from the ground up isn’t the best option for every person looking for a new home.
Still, there are numerous factors to consider before buying or building a home in Calgary. Before making your decision, you should keep the following in mind:
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- Budget: How much do you have to spend on your new home?
- Timeline: How soon do you want to move into your new home?
- Needs: Do you have unique needs that old houses may not accommodate?
- Calgary Housing Market: What’s the current housing market like in Calgary?
- Lot Availability: What’s available in your preferred neighbourhood and price range?
- Renovations: Is renovating an option?
A Quick Look at the Calgary Housing Market
According to the Calgary Housing Market Update for 2024:
- The average home price increased by 12% to $605,074
- There was a 3.2% decline in home sales annually (with a 26.4% decrease from November to December)
- Though home prices increased overall in 2024, there has been a downtrend in the latter half of the year
- December’s sales-to-new-listings ratio is 107% (an SNLR over 60% suggests a seller’s market)
- While 1,322 properties were sold in 2024, only 1,239 were put on the market
What this means: Those looking to buy a home in Calgary don’t have many options. This can impact you in several ways, compromising your family’s needs and wants for the sake of finding a home in your budget.
Custom Home Design
What Is Custom Home Design?
Custom home design involves designing a new home that meets your specific lifestyle, needs, routines, and preferences.
You’ll meet with a home designer to uncover these elements and more during the process. Throughout the design phase, you’ll review sketches and a 3D model to get a close look at how each space feels, refining it until it feels like your perfect home.
After the design is finalized, your home will be built. The design and building time frames vary depending on your project.
Read more about How Long It Takes to Design & Build a Custom Home.
Advantages of Custom Home Design
We’ve been designing custom homes for over 21 years, which means we like it…a lot. It also means we know the unique advantages it can bring over purchasing existing homes.
Design Customization
One of the main advantages of building a custom home rather than purchasing an existing one is the customization of the design. Many existing homes are quite dated, designed with only one bathroom or incredibly small bedrooms and closets.
Why this matters: These may have been the needs of past decades, but most certainly not the preferences of today. With custom home design, you’ll get to specify how many bathrooms you’d like and if you prefer an open-concept kitchen—not to mention the overall style of the home.
Future Flexibility
Some existing homes in Calgary have been recently renovated to reflect modern needs, but many are not. Plus, they most definitely have not been renovated to fit your family’s unique needs.
Why this matters: Say you plan to stay in your new home for as long as possible, or want your parents to move back in. All of this is taken into account with custom home design. We’ll thoroughly discuss your future needs and possibilities, working that into the design to leave room for flexibility.
Potential Higher Resale Value
Building a new home often means including more modern (or favourable) elements than are in older homes. Typically, the newer the home, the more updated the features, and the better the resale value in the future.
Why this matters: If you’re considering reselling your home in the future, you probably want as much money as possible. A potential buyer looking for a home will likely see more value in modern amenities and design.
Emotional Satisfaction
Most of us don’t grow up in homes designed for our lifestyles. This is partly why, when we get older and decide to build or buy a home, there are certain features on our checklist of must-haves.
Kitchens with enough room for two people to cook without knocking elbows, walk-in closets that make it easier to see your full wardrobe, or en-suite bathrooms that serve as a private retreat are common asks.
Why it matters: Settling for a home made for someone else won’t give you the same emotional satisfaction of seeing your dream home come to life.
Purchasing an Existing Property
What Does Purchasing an Existing Property Entail?
Purchasing an existing home means searching for available homes for sale on your own or hiring a realtor. You’ll go on multiple viewings, learn about the property conditions, and when you find one you like, you’ll make an offer and review the terms of sale.
If this offer is accepted, you’ll get final mortgage approval, hire a lawyer, and set a move-in date. This process typically takes up to 6 months. However, unique conditions can play a part in longer time frames.
Advantages of Purchasing an Existing Property
Even though we’re home designers, we know there are advantages to buying an existing property. A custom design isn’t always the right fit for people who want a new home, so it’s smart to consider what’s important to you.
Some advantages of purchasing an existing home include:
- Established landscaping
- Immediate move-in (sometimes)
- Potential for lower initial costs
A Word on Renovations
If you do end up purchasing an existing home without all the features you need, renovation is always an option. We’ve worked with numerous clients for whom this has been true, turning “fixer uppers” into the homes of their dreams—all within their budget.
What to consider: If you want to customize a home completely, designing and building it will likely be the better option. If giving an existing home with good bones a makeover is what’s needed, a renovation is a great choice.
Already have a property in mind? Book a consultation with our team to discuss the best option.
Find the Perfect Home for You
Ultimately, the perfect home for you will meet your needs now and in the future. Whether that’s purchasing an existing home or a custom home design, talking things through can help you decide what matters most.
If a custom home design is the right choice for you, get in touch with the expert team at Ellergodt Design to get started.