Short answer: A builder's base price is the cost of one floor plan built to that builder's standard specification on a standard lot. It usually covers the house itself, the standard finishes and the mandatory Alberta new home warranty. It often does not cover the lot premium, upgrades, landscaping, fencing, a deck, window coverings, appliances or a finished basement, and you need to ask whether GST is in the number. Every builder draws the line in a different place, so compare the all-in cost, not the base price.

By Jay Lewis, REALTOR® | RE/MAX Excellence · Updated October 15, 2026

This article is part of my Edmonton New Construction Buyer's Guide.

Free download: my New-Construction Buyer Checklist. Two printable pages, from your first show home visit to your one-year warranty, including what to ask about the price before you fall for a floor plan.

I've worked in new construction for more than 25 years, on the trades side (framing, renovations and full contract builds) and the sales side. I've priced houses from the builder's side, so I know how a base price is put together and what gets left out to keep the number on the sign low. I'm not a home inspector, engineer or lawyer, and I'll tell you when you need one. I also list homes for some builders. If you're interested in one of them, I'll tell you up front and explain how representation works.

What does "base price" actually mean?

It is the starting price for a specific model, built with the builder's standard materials, on a lot with no premium. Think of it as the price of the house before you make a single choice. The home you walk through in the show home is almost never the base home. Show homes are built with upgrades so they look their best, and the difference between the show home and the base specification can be large.

The document that tells you what you are getting is the specification sheet, sometimes called the standard features list. Ask for it before you compare anything. If a feature isn't on that sheet or in your contract, assume it isn't included.

Illustrative image.

What is usually included?

This varies by builder, so use it as a list of things to confirm:

• The house built to the standard plan, with the standard exterior

• Standard flooring, cabinets, counters, plumbing fixtures and lighting

• Heating and hot water equipment to the builder's standard

• An unfinished basement

• A garage, where the plan has one, and often a basic driveway and front walk

• Rough grading of the lot

• New home warranty coverage. Every new home in Alberta has to be enrolled with a warranty provider, with coverage of at least 1 year for labour and materials, 2 years for delivery and distribution systems such as electrical, plumbing and heating, 5 years for the building envelope and 10 years for major structural components.

What is usually extra?

• The lot premium. Backing onto a park, a pond or a walking trail, a bigger pie lot or a walkout basement lot all cost more. I explain how they're priced in what a lot premium is.

• Upgrades. Anything above the standard specification: flooring, counters, cabinets, extra pot lights, a side entry, nine-foot basement ceilings. See which upgrades are worth it.

• Landscaping and fencing. Some builders include front sod and a tree, some include nothing. Ask what the community requires you to finish and by when, and whether a landscaping deposit is held back until you do.

• A deck. Often not included, even when the plan shows a patio door several feet above the ground.

• Window coverings and appliances. Sometimes included as a promotion, often not.

• Basement development. A finished basement or a legal suite is priced separately.

• Air conditioning, garage heaters and similar items. Almost always extra.

What other costs come with a new build?

The builder's price is not the whole bill. These are the costs buyers most often forget to budget for. I've left out dollar amounts because they depend on the home, your lender and your lawyer, and they change. Ask each of them for a written estimate before you sign.

• Legal fees. Your lawyer handles the purchase and registers your title and mortgage.

• Land title and mortgage registration fees. The Alberta government charges these when your title and mortgage are registered.

• Mortgage default insurance. Required if your down payment is under 20% of the price, and usually added to the mortgage.

• GST, if it isn't included in the price, less any rebate you qualify for. I explain it in the GST rebate on a new home.

• Adjustments on possession day. Your share of the property tax and any utilities the builder has already paid.

• Home insurance. Your lender will want proof of it before the mortgage funds are released.

• The extras above that aren't included: landscaping, fencing, a deck, window coverings and appliances.

• Moving, and setting up your utility accounts.

Prices and fees change often with market conditions and world events, so treat any figure you're quoted as an estimate. I'm not a lawyer or a mortgage broker. Your lawyer and lender will give you the real numbers.

Is GST included in the base price?

Ask, and get the answer in writing. New homes are subject to GST. Many builders in the Edmonton area advertise prices with GST included and the rebate assigned to the builder, but not all do, and the wording matters. I go through the rebate rules in the GST rebate on a new home in Alberta. Your lawyer should confirm how GST is handled in your contract.

How do I compare two builders fairly?

Put both homes on one page and fill in the same lines for each:

• Base price, and whether GST is in it

• Lot premium

• The upgrades you would actually choose

• Landscaping, fencing and a deck

• Appliances and window coverings

• Any promotion or credit, and what it can be spent on

• Deposit schedule and possession date

The home with the lower base price is often not the cheaper home. I've seen two houses a few thousand dollars apart on the sign end up tens of thousands apart once everything was added. Then compare both against a resale home nearby that is already landscaped, fenced and finished. I look at that trade-off in new construction versus resale.

Prices and inclusions change often with market conditions and world events, so treat any figure from a show home or a price list as an estimate until it is written into your contract.

Can I negotiate what's included?

Often, yes. In most communities around Edmonton this fall there are more new homes for sale than buyers, and builders are more willing to add landscaping, appliances or upgrades than to lower the price. I cover where the room is in negotiating with a builder in Edmonton.

Get my free New-Construction Buyer Checklist

Two printable pages covering every stage from your first show home visit to your one-year warranty.

Get the free checklist →

Frequently asked questions

Does a builder's base price include the lot?

Usually it includes a standard lot. Lots that back onto a park or pond, larger lots and walkout lots carry a premium that is added on top.

Is landscaping included in a new home price in Edmonton?

It depends on the builder. Some include front sod and a tree, and some include nothing. Ask what is included, what the community requires you to finish and whether a deposit is held until it's done.

Are appliances included in a new build?

Sometimes, often as a promotion. If they are included, have the list written into the contract.

Is the show home the same as the base home?

Almost never. Show homes are built with upgrades. Ask for the standard specification sheet and a list of the upgrades in the show home.

What hidden costs come with buying a new build in Edmonton?

Beyond the builder's price, budget for legal fees, land title and mortgage registration fees, home insurance, and your share of property tax and utilities on possession day. Add mortgage default insurance if your down payment is under 20%, plus anything the builder doesn't include, like landscaping, fencing, a deck, window coverings or appliances. Ask your lawyer and lender for written estimates.

Planning show home visits?

Text me first at 780-220-8449, or book a 20-minute call. I'll line up the all-in cost of the homes you're considering so you can compare them fairly. I work with buyers in Edmonton, Sherwood Park, Fort Saskatchewan, Devon, Spruce Grove and Stony Plain.

Jay Lewis | REALTOR® | RE/MAX Excellence

Sources:Government of Alberta: new home warranty overview · Canada Revenue Agency: First-Time Home Buyers' GST/HST Rebate

Want to see more Edmonton real-estate updates from JaySells.ca in Google? Add JaySells.ca as a Preferred Source.

This article is general information, not legal, tax or mortgage advice. Prices, inclusions and builder promotions are estimates that change often with market conditions and world events. Confirm the details with the builder and a real estate lawyer before you sign.

Short answer: Yes, and right now the numbers are on the buyer's side. In my MLS® pulls from late September and early October 2026, new detached family homes had about 7 months of supply in Edmonton and between 7 and 9 months in Leduc, Stony Plain, Beaumont, Spruce Grove and Fort Saskatchewan. Builders rarely drop the sticker price, but they will often move on upgrades, landscaping, appliances, closing costs and possession dates, especially on a finished home that has been sitting.

By Jay Lewis, REALTOR® | RE/MAX Excellence · Updated October 12, 2026

This article is part of my Edmonton New Construction Buyer's Guide.

Free download: my New-Construction Buyer Checklist. Two printable pages, from your first show home visit to your one-year warranty, including the questions to ask before you talk price.

I've worked in new construction for more than 25 years, on the trades side (framing, renovations and full contract builds) and the sales side. I've been on the builder's side of this conversation, so I know what a finished house costs to carry and why a builder would rather give you a deck than cut the price. I'm not a home inspector, engineer or lawyer, and I'll tell you when you need one. I also list homes for some builders. If you're interested in one of them, I'll tell you up front and explain how representation works.

Why are builders negotiating right now?

Supply. Months of inventory is the number of homes for sale divided by how many sell in a month. Under about four months favours sellers. Over about six favours buyers. Here is what I found for detached family homes with three or more bedrooms above grade, two or more full baths and an ensuite:

• Edmonton: about 7.3 months for new construction and 3.8 for resale

• Fort Saskatchewan: about 9.2 months new and 1.2 resale

• Leduc: about 7.5 months new and 2.6 resale

• Stony Plain: about 7.5 months new and 1.4 resale

• Beaumont: about 7.0 months new and 3.8 resale

• Spruce Grove: about 6.8 months new and 2.4 resale

• Sherwood Park and St. Albert: about 3.5 months new and about 1 month resale

So it depends where you are looking. In Sherwood Park and St. Albert, new homes are selling quickly and a builder has less reason to move. In the other communities, resale homes are selling fast while new homes wait, and that gap is your room to negotiate. These figures change often with market conditions and world events, so treat them as a snapshot. I keep current numbers for each area in my community guides.

Illustrative image.

What will a builder actually negotiate?

Builders protect their sticker price, because the next buyer and the appraiser will both look at what the last home sold for. They are usually more flexible on things that don't show up as a price cut:

• Upgrades. Flooring, counters, cabinets, lighting, a finished basement or a side entry. I cover which ones hold their value in which new home upgrades are worth it.

• What's left to finish. Landscaping, fencing, a deck, blinds and appliances are handled differently by each builder. Ask for them to be included and written into the contract.

• Lot premiums. A premium on a lot that hasn't sold is sometimes negotiable. See what a lot premium is.

• Closing costs. Some builders will contribute to legal fees or offer a credit on possession day.

• Deposit and dates. A smaller deposit, a staged deposit or a possession date that fits the sale of your current home. I explain deposits in how builder deposits work in Alberta.

• Price. It does happen, mostly on finished homes that have been listed for months, at a builder's year-end, or on the last few homes in a phase.

How does a builder decide what to give up?

I've priced and built houses, so this is how I'd explain the other side of the table.

The price is the last thing to move. Every sale in a phase becomes the comparison for the next buyer and for the appraiser the bank sends out. If a builder drops one home by $20,000, the homes beside it are harder to sell at the old price. So a builder will usually spend $20,000 on you in other ways first.

Upgrades cost the builder less than they cost you. A builder buys flooring, counters and appliances at trade prices and in volume. An upgrade listed at $10,000 on the selections sheet did not cost the builder $10,000. That's why upgrades are the easiest thing to ask for, and why I compare the offer against what the same work would cost you after possession.

A finished house has a monthly bill. Interest on the construction loan, property tax, heat, power and insurance all keep running, and a house that sits through winter needs someone checking on it. Every month it stays unsold, the builder's margin shrinks. That is the builder's real deadline, and the listing date tells you how close it is.

Unbuilt homes are a different conversation. Before the foundation goes in, the builder has spent very little. There is less pressure, so expect a promotion or an upgrade allowance, and expect the builder to hold firm on anything structural once the permit drawings are done.

Which homes have the most room?

A finished home costs the builder money every month it sits: interest, property taxes, utilities and insurance. That is why a quick possession home usually has more room than a home that hasn't been started.

Look at how long a home has been listed. In my October 1 pull, new family homes for sale in Easton in Spruce Grove had been listed for a median of 100 days, and in Greenbury the median was 148 days. A home that has been through a summer and a fall without selling is one the builder wants to move.

A pre-construction home is different. The builder hasn't spent the money yet, so there is less pressure. You are more likely to get upgrades or a promotion than a lower price.

How do I negotiate without paying for it later?

• Compare all-in cost. Two homes at the same price can be thousands apart once you add GST, landscaping, fencing, appliances and window coverings. Line them up before you decide which one is the deal.

• Know the recent sales. A builder's price list is an asking price. What matters is what similar new and resale homes nearby actually sold for.

• Get it in writing. Anything a sales representative promises has to be in the purchase contract or an addendum. Brochures, emails and show homes are not the contract.

• Check the builder and the warranty. Confirm the builder's licence is active in the Government of Alberta's builder registry, and that the home is enrolled for warranty coverage.

• Have a lawyer read it. Builder contracts are written by the builder's lawyers. Have your own real estate lawyer review it before your conditions come off.

What is not worth negotiating?

• Structural changes after permits. Moving walls, windows or stairs once drawings are approved costs the builder time, and you will pay for it.

• Warranty. Coverage is set by Alberta's rules and the warranty provider. A builder can't trade it away, and you shouldn't accept less of it for a lower price.

• A discount in place of work the house needs. If the grading, a rough-in or the subfloor isn't right, I'd ask for it to be fixed and written into the contract. A credit doesn't fix it.

Does it cost me anything to have my own REALTOR®?

The show home staff work for the builder. Their job is to sell that builder's homes at the best price for the builder. Many builders will pay a buyer's agent, but they often require your REALTOR® to be introduced on your first visit, so text me before you walk into a show home. I explain the difference in show home consultant versus buyer's agent.

Get my free New-Construction Buyer Checklist

Two printable pages covering every stage from your first show home visit to your one-year warranty.

Get the free checklist →

Frequently asked questions

What can you actually negotiate with a builder in Edmonton?

Most often upgrades, landscaping, fencing, a deck, appliances, window coverings, closing costs, the deposit schedule and the possession date. A lower price is possible, mostly on finished homes that have been listed for months.

Why won't a builder just lower the price?

Because each sale becomes the comparison for the next buyer and for the bank's appraiser. A builder would usually rather add upgrades worth the same amount, which cost the builder less than their list price.

Can you negotiate the price of a new build in Edmonton?

Sometimes, mostly on finished homes that have been listed for a while. More often a builder will add upgrades, landscaping, appliances or a closing credit instead of lowering the price.

When is the best time to negotiate with a builder?

When the builder has finished homes that aren't selling. In my fall 2026 pulls that describes most communities around Edmonton except Sherwood Park and St. Albert. The end of a builder's fiscal year and the last homes in a phase can also help.

Is a quick possession home easier to negotiate than a pre-construction home?

Usually, yes. A finished home costs the builder money every month it sits, so there is more reason to make a deal.

Are the builder's promises binding if they aren't in the contract?

Assume they are not. Have every incentive, upgrade and date written into the purchase contract, and have a real estate lawyer review it.

Planning show home visits?

Text Jay Lewis first at 780-220-8449, email jay@jaysells.ca, or book a 20-minute call. I'll pull the current numbers for the community you like and tell you which homes have room to move. I work with buyers in Edmonton, Sherwood Park, Fort Saskatchewan, Devon, Spruce Grove and Stony Plain.

Jay Lewis | REALTOR® | RE/MAX Excellence

Sources: REALTORS® Association of Edmonton MLS® data pulled by Jay Lewis, September 28 to October 4, 2026 (detached homes, 3+ bedrooms above grade, 2+ full baths, ensuite; new construction means Occupancy is New/Never Occupied; Edmonton and Spruce Grove use 30 days of sales, the other communities 90 days) · Government of Alberta: new home warranty overview · Government of Alberta: builder registry

Want to see more Edmonton real-estate updates from JaySells.ca in Google? Add JaySells.ca as a Preferred Source.

This article is general information, not legal, tax or mortgage advice. Market figures, prices and builder incentives are estimates that change often with market conditions and world events. Confirm the details with the builder and a real estate lawyer before you sign.

Short answer: Some are, and it depends on the type of home. In September 2026 the average sale price in the Greater Edmonton Area was $466,080, up 2.9% from a year earlier and down 0.8% from August. The benchmark price was $423,100, down 0.3% from a year earlier. Detached homes are holding their value, while townhomes and semi-detached homes sold for 4.5% and 4.8% less than last September. With 8,062 homes for sale and sales down 10.3%, buyers have more room to negotiate than they did a year ago.

By Jay Lewis, REALTOR® | RE/MAX Excellence · Updated October 9, 2026

This article is part of my Edmonton New Construction Buyer's Guide.

Free download: my New-Construction Buyer Checklist. Two printable pages, from your first show home visit to your one-year warranty.

I've worked in new construction for more than 25 years, on the trades side (framing, renovations and full contract builds) and the sales side. I read the monthly market release the way I used to read a set of drawings, starting with the parts that carry the load. For prices, that is supply. The numbers below are from the REALTORS® Association of Edmonton's September report, released October 2, 2026.

What did Edmonton home prices do in September 2026?

Every category was lower than in August, which is normal for fall. The year-over-year column tells you more. Detached homes are still ahead of last September. Semi-detached homes and townhomes are behind.

The average price moves with the mix of homes that happen to sell in a month. The MLS® Home Price Index benchmark tracks a typical home, so I watch it too:

• Composite benchmark: $423,100, down 0.9% from August and down 0.3% from a year earlier.

• Single-family benchmark: $518,900, down 1.1% from August and unchanged from a year earlier.

• Townhouse benchmark: $269,500, down 3.4% from a year earlier.

• Apartment benchmark: $197,400, down 1.1% from a year earlier.

The median sale price was $435,000, the same as September 2025. So the typical Edmonton home is worth about what it was a year ago, and the attached homes at the lower end of the price range have slipped.

Illustrative image.

Why are prices softening?

More homes are for sale and fewer are selling.

• Sales: 1,959, down 8.8% from August and down 10.3% from September 2025.

• New listings: 3,864, up 7.2% from August and up 11.3% from a year earlier.

• Inventory: 8,062 homes for sale at month end, up 16.7% from a year earlier.

• Days on market: 44 on average, five more than a year ago.

By my math that is about four months of inventory. The sales to new listings ratio was 51%, compared with 63% in September 2025. That is roughly one sale for every two new listings. The Association's table goes back to 2022, and this is the most homes for sale at the end of any September in it.

The Association's 2026 Board Chair, Darlene Reid, said typical seasonal trends suggest sales won't rebound until after year end, and that "the rising inventory in our market could soften that growth even further."

What does this mean if you are buying a new build?

New homes are part of the supply. CMHC counted 18,544 homes under construction in the Edmonton area in August 2026, and its September count comes out October 16. As those homes are finished, they compete with resale listings for the same buyers.

That shows up as leverage. A builder holding a finished home has carrying costs every month, so builders with finished homes are negotiating on upgrades, closing costs or price. A home that hasn't been started yet gives you less room on price and more choice on the plan and finishes. I compare the two in new construction vs. resale in Edmonton, and the supply numbers are in is Edmonton a buyer's market?

I also list homes for some builders. If you're interested in one of them, I'll tell you up front and explain how representation works.

How do the towns around Edmonton compare?

Here are September's sales and average prices from the same report. One month in a smaller town can be a few dozen sales, so the average swings with which homes sold. Treat these as a snapshot.

Within the City of Edmonton, the detached average was $547,426, compared with $540,159 a year earlier.

What about interest rates?

The Bank of Canada's policy rate is 2.25%. It held there on September 2, and the next decision is October 28, 2026. If you have a rate hold, ask your mortgage broker when it expires and what happens if the rate changes before your possession date. If you don't have a broker, the team at Mortgages For Less can go through it with you.

Should you wait for prices to drop more?

Nobody can tell you where prices will be in the spring, and I won't pretend to. What the September numbers do show:

• If you are buying: you have more homes to choose from than last fall, and homes are taking longer to sell. That usually means more room for conditions, for time to think, and for negotiating.

• If you are selling: you are competing with more listings than a year ago. Price against what is for sale today, because last spring's sales are already out of date.

• If you are doing both: the two sides tend to offset each other. What you give up on your sale you can often get back on your purchase.

Home prices change often with market conditions and world events. These figures are averages and benchmarks for one month. They are estimates of the market and say little about what one particular house is worth.

Get my free New-Construction Buyer Checklist

If a new build is on your list this fall, the checklist walks you from your first show home visit to your one-year warranty.

Get the free checklist →

Frequently asked questions

What is the average home price in Edmonton right now?

In September 2026 the average sale price for all residential homes in the Greater Edmonton Area was $466,080, and the average detached home sold for $569,820. Prices change often with market conditions and world events.

Are Edmonton home prices going down?

Compared with a year earlier, the overall average is up 2.9% and the benchmark is down 0.3%. Semi-detached homes are down 4.8% and townhomes are down 4.5%. Every category was lower than in August, which is typical for fall.

Is Edmonton a buyer's market in fall 2026?

It is leaning that way. There were 8,062 homes for sale at the end of September, up 16.7% from a year earlier, and the sales to new listings ratio was 51%.

How long does it take to sell a home in Edmonton?

The average was 44 days on market in September 2026, five days longer than a year earlier. Detached homes averaged 42 days and apartment condos 50.

Thinking about a move this fall?

Text me first at 780-220-8449, or book a 20-minute call. I'll pull the current numbers for your neighbourhood and price range so you can decide on facts. I work with buyers and sellers in Edmonton, Sherwood Park, Fort Saskatchewan, Devon, Spruce Grove, Stony Plain, St. Albert, Leduc and Beaumont.

Jay Lewis | REALTOR® | RE/MAX Excellence

Sources: REALTORS® Association of Edmonton: Monthly Market Statistics, September 2026 · CMHC housing starts, August 2026 · Bank of Canada: policy interest rate

Want to see more Edmonton real-estate updates from JaySells.ca in Google? Add JaySells.ca as a Preferred Source.

This article is general information, not legal, tax or mortgage advice. Market statistics are estimates that change often with market conditions and world events. Average and benchmark prices are not a valuation of your home.

Short answer: A builder deposit is money you pay toward the purchase price before your new home is finished, usually in stages set out in your purchase contract. How it is protected depends on what you are buying. For a new condominium unit, Alberta's Condominium Property Act requires your payments to be held in a trust account or covered by an approved purchaser protection program. For a house or duplex on its own lot, protection comes from your contract and from optional deposit insurance, so ask for the details in writing before you pay.

By Jay Lewis, REALTOR® | RE/MAX Excellence · Updated October 7, 2026

This article is part of my Edmonton New Construction Buyer's Guide.

Free download: my New-Construction Buyer Checklist. Two printable pages, from your first show home visit to your one-year warranty.

I've worked in new construction for more than 25 years, on the trades side (framing, renovations and full contract builds) and the sales side. On a build, the deposit is the first money that moves, and it moves months before there is a finished house to walk through. Buyers ask me about paint colours and lot sizes all day. Very few ask where their deposit sits while the house goes up. I'm not a home inspector, engineer or lawyer, and I'll tell you when you need one. Several of the questions below are lawyer questions, and I've marked them.

What is a builder deposit?

It is money you pay the builder (or the builder's lawyer) when you sign a purchase contract and at set points afterward. It shows you are committed, and it is credited toward the purchase price when you take possession. The rest of the price is paid through your lawyer on possession day, from your down payment and your mortgage.

There is no single standard amount. Each builder sets its own schedule, and the schedule for a quick possession home can look different from a build that starts with an empty lot. Deposit amounts change often with market conditions and world events, so treat any figure you hear in a show home as an estimate until it is written into your contract.

Illustrative image.

When do I pay the deposit?

Deposits are often split into stages. Your contract should answer each of these:

• How much is due when you sign?

• Is more due when you remove your conditions, such as financing or the sale of your current home?

• Is a separate deposit due for upgrades or changes you choose after signing?

• Who is each payment made out to: the builder, or a law firm in trust?

• When is the balance due, and how does it reach the builder?

If you are building from scratch, the gap between your first payment and your possession date can be long. I walk through the stages in how long it takes to build a house in Edmonton. With a quick possession home the house is already built or close to it, so your deposit is outstanding for a much shorter time.

Is my deposit protected if I buy a new condo?

Yes, and the rules are in provincial law. If you buy a new or converted condominium unit from a developer, the Condominium Property Act and its regulations say:

• Trust or an approved program. While the unit is under construction, your deposit and other payments are protected by a trust account managed by a prescribed trustee, by a purchaser protection program, or by a combination of the two. The Government of Alberta describes a prescribed trustee as a lawyer who is an active member of the Law Society of Alberta.

• Three days. A developer who receives money that must be held in trust has to deposit it into the trust account within 3 days, not counting holidays and Saturdays.

• Ten days to cancel. You can cancel the purchase agreement within 10 days of signing. If you didn't receive all the required documents before you signed, the 10 days run from the day you receive them.

• Fifteen days for the refund. If you cancel within that period, the developer must return your money within 15 days of receiving your written notice.

If the project is covered by a purchaser protection program, other rules may apply, and the province says to contact the program provider for the details.

Two cautions. Some townhomes and duplexes are sold as condominiums and some are freehold, and it isn't always obvious from the show home. Ask which one you are buying, because it decides which rules apply. And the 10-day period is the only automatic way out. Once it has passed, your contract decides what happens to your deposit.

Is my deposit protected if I buy a house or duplex on its own lot?

The trust rules above come from the Condominium Property Act, so they apply to condominium units. For a freehold house or duplex, look at two things: your contract and deposit insurance.

Start with what the mandatory warranty covers. Every new home in Alberta has to be enrolled with a warranty provider, with coverage of at least:

• 1 year for labour and materials

• 2 years for delivery and distribution systems such as electrical, plumbing and heating

• 5 years for the building envelope

• 10 years for major structural components

All four are about defects in the house. The province's overview of this coverage doesn't mention deposits. Deposit protection is a separate product that a builder may or may not include.

One example is the Alberta New Home Warranty Program, which describes its pre-possession insurance as optional. As published on its website:

• Single-family homes: Deposit Protection Insurance covers the payments you made to secure your building commitment until building begins, up to a maximum of $100,000. Home Completion Insurance then applies while the home is under construction, until you take possession.

• Multi-family homes: deposits are protected from the time they are paid until you take possession, up to a maximum of $50,000.

The program recommends confirming with your builder how much coverage applies to your own purchase agreement. Those maximums are the provider's published figures and can change. Other warranty providers work in Alberta too, so ask your builder which provider it uses and whether deposit coverage is part of your contract.

How do I check a builder before I pay?

The province runs two free public searches, and both take a couple of minutes.

• Builder registry. All residential builders constructing new homes in Alberta since December 1, 2017 need a valid builder licence. Search the builder's name and confirm the licence is active.

• Property registry. Search the address or legal description to see the warranty information for a specific home.

What happens to my deposit if I back out?

Your contract decides, and this is a lawyer question. In general, a contract has conditions with deadlines, such as financing or the sale of your current home. The contract says what happens to your deposit if you can't meet a condition by its date. Once your conditions are removed, the deal is firm, and walking away can cost you the deposit and possibly more.

Builder contracts are written by the builder, and the deposit clauses are some of the most important lines in them. Have a real estate lawyer read the contract before your conditions come off. My Alberta builder contract checklist lists what to look for, and show home sales rep vs. buyer's agent explains who works for whom when you sign.

What should I ask before I hand over a deposit?

• Is this home a condominium unit or freehold?

• Who is the cheque or transfer payable to, and is the money held in trust?

• Which warranty provider is the home enrolled with?

• Is my deposit covered by deposit insurance or a purchaser protection program? Up to what amount, and can I see it in writing?

• What are the deposit stages and dates?

• Under what conditions do I get the deposit back, and how quickly?

• What happens to my deposit if possession is delayed?

• Are upgrade deposits treated the same way as the main deposit?

I also list homes for some builders. If you're interested in one of them, I'll tell you up front and explain how representation works.

Get my free New-Construction Buyer Checklist

The checklist covers what to ask and check at each stage, from your first show home visit to your one-year warranty.

Get the free checklist →

Frequently asked questions

How much is a builder deposit in Alberta?

It varies by builder, by home type and by whether the home is already built. The amount and the payment dates are set in your purchase contract. Deposit amounts change often with market conditions and world events, so any figure is an estimate until it is in writing.

Is a builder deposit refundable?

It depends on your contract. New condominium buyers have a 10-day cancellation period under the Condominium Property Act, with the money returned within 15 days of the developer receiving written notice. Outside that, your conditions and their deadlines decide. Ask a real estate lawyer before you sign.

Does the Alberta new home warranty cover my deposit?

The mandatory coverage is for defects: 1 year for labour and materials, 2 years for delivery and distribution systems, 5 years for the building envelope and 10 years for major structural components. Deposit protection is separate. The Alberta New Home Warranty Program, for example, offers it as optional pre-possession insurance.

Who holds my deposit when I buy a new condo?

A prescribed trustee holds it in a trust account, unless the project is covered by an approved purchaser protection program. The developer has 3 days, not counting holidays and Saturdays, to deposit trust money after receiving it.

How do I know if a builder is licensed?

Search the builder's name in the Government of Alberta's public builder registry and confirm the licence is active. Builders constructing new homes since December 1, 2017 need one.

Planning show home visits?

Text me first at 780-220-8449, or book a 20-minute call. I'll go through the deposit schedule and the contract with you before you sign anything, and I'll tell you when it's time to call a lawyer. I work with buyers in Edmonton, Sherwood Park, Fort Saskatchewan, Devon, Spruce Grove and Stony Plain.

Jay Lewis | REALTOR® | RE/MAX Excellence

Sources: Condominium Property Act (Alberta King's Printer) · Government of Alberta: condominium information · Government of Alberta: Purchasing a Condominium · Government of Alberta: new home warranty overview · Government of Alberta: builder registry · Government of Alberta: property registry · Alberta New Home Warranty Program: pre-possession insurance

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This article is general information, not legal, tax or mortgage advice. Deposit amounts, insurance limits and program rules are estimates that change often with market conditions and world events. Confirm the details with the builder, the warranty provider and a real estate lawyer before you sign.

Short answer: A lot premium is an extra charge a builder adds for a lot that's more desirable than the standard lot in a phase, such as a walkout, a pie-shaped lot, a corner, or one backing onto a pond, park or green space. It's added on top of the home's price, so always ask for it separately. Whether it's worth paying depends on how long you'll stay, how you'll use the yard, and whether the feature is likely to matter to the next buyer.

By Jay Lewis, REALTOR® | RE/MAX Excellence · Updated October 5, 2026

This article is part of my Edmonton New Construction Buyer’s Guide.

Free download: my New-Construction Buyer Checklist. Two printable pages, from your first show home visit to your one-year warranty, including what to check on the lot before you sign.

I've worked in new construction for more than 25 years, on the trades side (framing new homes, renovations and full contract builds around Edmonton) and the sales side. I've built on just about every lot type there is, and the lot is the one thing you can't change later. Here's how lot premiums work and how I help buyers decide.

What is a lot premium?

When a builder prices a floor plan, the price usually assumes a standard lot. Lots with features buyers pay more for carry an extra charge, the lot premium. Premiums are set by the builder or developer and vary by community, phase and market conditions, so the same kind of lot can cost very different amounts in different places.

Which lots usually cost more?

• Walkout and partial walkout lots: the land slopes so the basement opens to the backyard, with more natural light downstairs. They often need extra foundation work and a deck.

• Pie-shaped lots: narrow at the street and wide at the back, giving a bigger backyard.

• Backing onto a pond, park, ravine or green space: no neighbours directly behind, and a view.

• Corner lots: more space and light, but also more sidewalk to shovel, less privacy and sometimes extra fencing.

• Backyard orientation: in some communities, lots with a south- or west-facing backyard carry a premium for afternoon sun.

• Larger or wider lots: room for a wider home, a bigger garage or a larger yard.

Illustrative image.

What should I check before paying a lot premium?

1. The exact amount, in writing: separate from the home price, and whether GST applies to it.

2. What the premium includes: for a walkout, whether the extra foundation work, larger windows, a deck and stairs are included or extra.

3. Grading and drainage: how water is designed to move on and around the lot. This matters most on walkouts and lots next to ponds.

4. What's planned next door and behind: future phases, roads, parks, walkways, utility boxes and easements. The quiet green space behind you today may be a school or a road later. Ask for the community plan.

5. Restrictions: architectural guidelines, fencing rules on ponds and parks, and easements that limit where you can build a deck or shed.

6. Sun and wind: stand on the lot at different times of day if you can.

All of this should be reviewed alongside the purchase agreement. My Alberta builder contract checklist covers what to confirm in writing.

Is a lot premium worth it?

It depends on you and on the lot. A premium tends to be easier to justify when:

• You'll use the feature every day, such as a bigger yard for kids or a dog, or a bright walkout suite

• You plan to stay long enough to enjoy it

• The feature can't easily be added later (you can't add a view or a walkout after the fact)

• Similar lots in the area have tended to attract buyers when they resell

It's harder to justify when the premium stretches your budget, or when the same money would buy a better location, a larger home or upgrades you'd actually use. For help weighing upgrades, see which new home upgrades are worth it.

Lot premiums, like all new-home prices, change often with market conditions and world events, so compare current written pricing rather than past examples.

Can I negotiate a lot premium?

Sometimes. Builders may have more flexibility on lots that have been available for a while, at the end of a phase, or when the market is slower. Ask, but get any change in writing in the agreement.

How do lot premiums affect my total cost?

A premium raises the price you finance and can add costs you don't see on the price sheet, such as a larger deck on a walkout, extra fencing on a corner, or landscaping for a bigger yard. Add these to your all-in budget with GST, upgrades and closing costs. See new construction cost per square foot in Edmonton for how to compare builders' pricing.

Get my free New-Construction Buyer Checklist

The lot is one of the biggest decisions in a new build. My free, printable checklist covers what to check on the lot, in the contract and at every stage through your one-year warranty.

Get the free checklist →

Frequently asked questions

What is a lot premium on a new home?

An extra charge on top of the home's price for a more desirable lot, such as a walkout, pie lot, corner, or one backing onto a pond or green space.

Is a walkout lot worth the premium?

Often, if you'll use the basement as living space or a suite, because of the extra light and backyard access. Ask what the premium includes, since walkouts usually need more foundation work and a deck.

Are pie lots better?

They give you a bigger backyard but a narrower frontage. They suit buyers who want outdoor space more than a wide front yard or driveway.

Do lot premiums include GST?

Ask the builder. GST generally applies to new homes, and how the premium is taxed and shown should be clear in your agreement.

Can I negotiate the lot premium?

Sometimes, especially on lots that have been available for a while or late in a phase. Get any change in writing.

Choosing a lot in the Edmonton area?

If you're comparing lots in Edmonton, Sherwood Park, Fort Saskatchewan, Devon, Spruce Grove or Stony Plain, text me first at 780-220-8449, or book a 20-minute call. I'll walk the lot with you and help you weigh the premium against your budget. My area guides for Spruce Grove and Sherwood Park list communities building now. I also list homes for some builders; if you're interested in one of my listings, I'll tell you up front and explain how representation works. I'm not a home inspector, engineer or lawyer, and I'll tell you when you need one.

Jay Lewis | REALTOR® | RE/MAX Excellence

This article is general information, not legal, tax or financial advice. Confirm pricing and terms in writing with the builder.

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Short answer: The pre-possession walkthrough is your inspection of the finished home with the builder's representative, usually shortly before you get your keys. You go room by room, test what works, and write down every deficiency, from paint touch-ups to doors that don't close properly, on the builder's form. That written list is what the builder commits to fix, so take your time and don't sign until everything you found is on it.

By Jay Lewis, REALTOR® | RE/MAX Excellence · Updated October 2, 2026

This article is part of my Edmonton New Construction Buyer’s Guide.

Free download: my New-Construction Buyer Checklist. Two printable pages, from your first show home visit to your one-year warranty, including what to track after your walkthrough.

I've worked in new construction for more than 25 years, on the trades side (framing new homes, renovations and full contract builds around Edmonton) and the sales side. I've been on both sides of the walkthrough, so I know what builders expect to hear and what buyers tend to miss. Here's how to get the most out of it.

What is a pre-possession walkthrough?

Builders call it a pre-possession walkthrough, PDI (pre-delivery inspection) or orientation. It usually happens once the home is complete and cleaned, shortly before possession. The builder's representative shows you how the home works, and together you record any deficiencies on a form. You typically sign that list, and the builder uses it to schedule repairs.

How long does a new home walkthrough take?

Plan on one to two hours for a typical house, and longer for a larger home. Book it for daylight if you can: marks on walls, floors and cabinets are much easier to see in natural light. Ask the builder how long they've scheduled, and don't let the clock rush you.

What should I bring to the walkthrough?

• Your purchase agreement, signed selection sheets and any change orders

• Blue painter's tape to mark spots as you find them

• Your phone for photos, and a small flashlight

• A phone charger or small plug-in tester to check outlets

• A tape measure, if any dimensions matter to you

• Your REALTOR®, if they attend walkthroughs (I do)

What should I check at the walkthrough, room by room?

Everywhere

• Walls and ceilings: drywall cracks, nail pops, dents and paint coverage

• Floors: scratches, chips, gaps, squeaks and transitions between rooms

• Doors: they open, close and latch without rubbing, and the hardware is tight

• Windows: they open, close and lock; screens are there; glass isn't scratched

• Trim and caulking: gaps, missing pieces and messy caulk lines

• Lights, switches and outlets all work

Kitchen and bathrooms

• Cabinets and drawers open, close and line up; no chips or scratches

• Countertops are undamaged and sealed where they meet the backsplash

• Taps run hot and cold, drains drain, toilets flush and don't rock

• Appliances are the models on your selection sheets and work

• Exhaust fans run

Illustrative image.

Mechanical and basement

• Furnace, hot water tank and any air conditioning are installed and the builder shows you how they work

• Ask where the main water shut-off and electrical panel are

• Look for signs of water on the basement floor and around the foundation walls

Exterior

• Siding, stone and trim are complete and undamaged

• Grading slopes away from the house, and downspouts discharge away from the foundation

• Driveway, walkways and steps are complete; note any unfinished exterior work and the date it will be done

• Garage door opens, closes and reverses safely

Should I compare the home to my selection sheets?

Yes. Check that the flooring, cabinets, countertops, fixtures and upgrades match what you chose and paid for. Mix-ups happen, and it's far easier to fix them before you move in than after.

What if I find a lot of deficiencies?

That's normal, and it's the reason the walkthrough exists. Put every item on the builder's form, be specific about the location, and take a photo of each one. Before you sign, ask:

• When will each item be fixed?

• Who do I contact to follow up?

• How do I report problems that show up after I move in?

If something serious is unfinished, such as missing safety items or systems that don't work, talk to your lawyer before possession about how it's handled under your purchase agreement.

Should I hire a home inspector for a new build?

You can, and many buyers do. A licensed home inspector looks at things most buyers don't know to check. The best times are before drywall, while framing and rough-ins are still visible, and before your walkthrough. Ask the builder about site access rules first.

What does the Alberta new home warranty cover after the walkthrough?

Every new home in Alberta must have warranty coverage of at least:

• 1 year: labour and materials

• 2 years: delivery and distribution systems (electrical, plumbing, heating and air)

• 5 years: building envelope

• 10 years: major structural components

Coverage on a house, duplex or townhome starts at the earliest of first occupancy, the date the municipality or its accredited inspection agency grants permission to occupy, or the date your title transfer is registered. For a condo, it’s the earlier of first occupancy and permission to occupy. That means it can start before you get your keys, so ask the builder for the exact start date. Keep your walkthrough list, photos and warranty documents together, and report new issues in writing. Book your own check of the home well before the one-year mark so nothing covered is missed.

Get my free New-Construction Buyer Checklist

The walkthrough is one step of many. My free, printable checklist covers everything from your first show home visit to your one-year warranty.

Get the free checklist →

Frequently asked questions

When does the pre-possession walkthrough happen?

Usually once the home is complete and cleaned, shortly before possession. Your builder will schedule it.

Can I bring someone to my new home walkthrough?

Usually, yes. Many buyers bring their REALTOR® or a family member. Check the builder's policy, especially for home inspectors.

What happens if the builder doesn't fix the deficiencies?

Follow up in writing with the builder first. Covered defects can be reported to your warranty provider under Alberta's new home warranty.

Should I sign the walkthrough form if items are still unfinished?

Only once every item you found is written on it. Signing usually confirms the list, not that the work is done.

Is a walkthrough the same as a home inspection?

No. The walkthrough is with the builder's representative; a home inspection is done by a licensed, independent inspector you hire.

Want a second set of eyes at your walkthrough?

If you're buying a new home in Edmonton, Sherwood Park, Fort Saskatchewan, Devon, Spruce Grove or Stony Plain, text me first at 780-220-8449, or book a 20-minute call. I attend walkthroughs with my buyers and help document deficiencies. I also list homes for some builders; if you're interested in one of my listings, I'll tell you up front and explain how representation works. I'm not a home inspector, engineer or lawyer, and I'll tell you when you need one.

Jay Lewis | REALTOR® | RE/MAX Excellence

Sources: Government of Alberta: new home warranty · Alberta New Home Warranty Program: when coverage starts

This article is general information, not legal or inspection advice.

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Short answer: A quick possession home is a new home the builder has already built or nearly finished, so you can usually move in within about 30 to 90 days instead of waiting 7 to 12 months for a new build. You trade most design choices for speed and a firm price. Before you buy one, check what's included, when the warranty actually started, and whether there's room to negotiate.

By Jay Lewis, REALTOR® | RE/MAX Excellence · Updated September 30, 2026

This article is part of my Edmonton New Construction Buyer’s Guide.

Free download: my New-Construction Buyer Checklist. Two printable pages, from your first show home visit to your one-year warranty, including what to confirm before you buy a quick possession home.

I've worked in new construction for more than 25 years, on the trades side (framing new homes, renovations and full contract builds around Edmonton) and the sales side. Quick possession homes can be a great option, but because they're already built, you have to look at them differently from a home you're about to order. Here's how I walk buyers through them.

What is a quick possession home?

Builders use a few names for the same idea: quick possession, move-in ready, inventory home or spec home. The builder started the home before it sold, chose the floor plan and finishes, and is now finishing or has finished construction. Some are brand new and have never been lived in; some are former show homes.

• Complete: ready now. Possession is mostly the time for financing, your lawyer and the walkthrough.

• Nearly complete: in the final stages, often with a set possession date in the coming weeks or months.

• Former show home: usually full of upgrades and sometimes sold with furniture or on a lease-back. Terms vary a lot, so read them carefully.

How fast can I move into a quick possession home in Edmonton?

If the home is complete, possession can often happen in about 30 to 60 days, depending on your financing and the builder's process. If it's nearly finished, it depends on the construction schedule. Either way, get the possession date in writing in the purchase agreement.

For comparison, a new home that hasn't started usually takes about 7 to 12 months from signing to keys. See how long it takes to build a house in Edmonton.

What are the pros and cons of a quick possession home?

Pros

• Speed: you can match your move to a sale, lease end or job start.

• What you see is what you get: no guessing from a show home and a colour board.

• Price certainty: the finishes are already in the price, so there are no surprise design-centre totals.

• Sometimes more room to negotiate: builders carry costs on finished homes, and some offer incentives to move them. It depends on the builder and the market.

Cons

• Few or no choices: the layout, lot and finishes are set.

• Paying for upgrades you might not have picked: especially in former show homes.

• Less time to plan: financing, your lawyer's review and your move all happen quickly.

• Warranty timing: part of the warranty may already have been used up (see below).

When does the warranty start on a quick possession home?

This is the question I make sure every buyer asks. Under Alberta’s new home warranty rules, coverage on a house, duplex or townhome starts on the earliest of three dates: when the home is first occupied, when the municipality or its accredited inspection agency grants permission to occupy, or when the transfer of title to the buyer is registered. For a condo, it’s the earlier of first occupancy and permission to occupy.

That means the warranty can start before you own the home. If a finished home received permission to occupy months before you buy it, some of the 1-year labour and materials coverage may already be used up. That isn’t a reason to avoid a quick possession home, just a detail to confirm: ask the builder, in writing, for the warranty start date and the warranty provider before you firm up. Alberta’s minimum coverage is:

• 1 year: labour and materials

• 2 years: delivery and distribution systems (electrical, plumbing, heating and air)

• 5 years: building envelope

• 10 years: major structural components

What should I check before buying a quick possession home?

1. What's included: appliances, window coverings, landscaping, fencing, the driveway and air conditioning. Get the list in writing.

2. The all-in price: whether GST is included and whether a GST rebate has been assumed. Eligible first-time buyers may qualify for significant GST relief on a new home; see my 2026 Alberta new-home GST rebate guide.

3. The warranty start date and provider, as above.

4. The lot: orientation, grading and drainage, and what's planned next door. See my builder contract checklist for what to confirm in the agreement.

5. Condition: a finished home can still have deficiencies. A licensed home inspector can look at it before possession, and you should still do a full pre-possession walkthrough.

6. For former show homes: wear and tear, what furniture or decor is included, and any lease-back terms.

Can I negotiate on a quick possession home?

Often, but not always. Depending on the builder and the market, room to negotiate may show up as a price reduction, upgrades, help with closing costs, or appliances and landscaping included. Prices and incentives change often with market conditions and world events, so treat any incentive as a snapshot. Having your own REALTOR® helps here: I compare what's being offered across builders so you know whether a deal is actually a deal.

Illustrative image.

Where can I find quick possession homes around Edmonton?

Most active builders have some, and the list changes month to month. My area guides cover the communities where new homes are being built, including Spruce Grove, Sherwood Park, Fort Saskatchewan and Stony Plain. Text me what you're looking for and I'll send you what's available now.

Get my free New-Construction Buyer Checklist

Everything to check before you buy a new home, including a quick possession, on two printable pages, from your first show home visit to your one-year warranty.

Get the free checklist →

Frequently asked questions

What does quick possession mean?

It means the home is already built or nearly finished, so you can take possession soon after buying, often within about 30 to 90 days.

Is a quick possession home cheaper?

Not automatically. It may include upgrades you wouldn't have chosen, but builders sometimes offer incentives on finished homes. Compare the all-in price with a similar home you'd build.

Do quick possession homes come with a warranty?

Yes. New homes in Alberta need warranty coverage, but it starts at the earliest of first occupancy, permission to occupy or registered title transfer (for condos, occupancy or permission to occupy). Ask for the start date before you buy.

Can I still choose finishes on a quick possession home?

Usually not, although a home in the earlier stages of construction may still allow a few choices. Ask the builder what's still open.

Do I need my own REALTOR® for a quick possession home?

It isn't required, but the show home staff represent the builder. See Do I need a REALTOR® for a new build?

Looking for a home you can move into soon?

If you're weighing quick possession homes in Edmonton, Sherwood Park, Fort Saskatchewan, Devon, Spruce Grove or Stony Plain, text me first at 780-220-8449, or book a 20-minute call. I also list homes for some builders; if you're interested in one of my listings, I'll tell you up front and explain how representation works. I'm not a home inspector, engineer or lawyer, and I'll tell you when you need one.

Jay Lewis | REALTOR® | RE/MAX Excellence

Sources: Government of Alberta: new home warranty · Alberta New Home Warranty Program: when coverage starts · Canada Revenue Agency: First-Time Home Buyers’ GST/HST rebate

This article is general information, not legal, tax or mortgage advice. Confirm details in your purchase agreement and with the appropriate professionals.

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Short answer: Before you sign a builder's purchase agreement in Alberta, check eight things: possession date and delay terms, deposits and how they're protected, what's included in the price, upgrade and selection terms, warranty coverage, price-adjustment clauses, assignment and resale limits, and the builder's right to make changes. Have an Alberta real estate lawyer review it before it becomes firm.

By Jay Lewis, REALTOR® | RE/MAX Excellence · Updated September 26, 2026

This article is part of my Edmonton New Construction Buyer’s Guide.

Free download: my New-Construction Buyer Checklist. Two printable pages, from your first show home visit to your one-year warranty, including the contract questions to ask before you sign.

A builder contract is not the same as a typical resale purchase agreement. It's prepared for the builder and can contain detailed terms covering deposits, possession delays, upgrades, price adjustments, substitutions, warranty coverage and your ability to assign or resell the contract. Before making the agreement firm, you should understand exactly what's included in the price, what can still change, what deadlines you're agreeing to, and what happens if the build or possession doesn't go as expected.

With more than 25 years in new construction, on the trades and sales sides, I pay particular attention to the specifications and construction details that are easy to overlook when the focus is on floor plans and finishes. I can help you work through the process and identify questions to raise, but a qualified Alberta real estate lawyer should give you legal advice on the contract itself.

Quick checklist: builder contract in Alberta

• Possession date: fixed or estimated? What notice, reasons and maximum extension apply?

• Deposits: how much, when, refundable when, and how protected?

• Price: exactly what's included, and does it include GST and any rebate?

• Upgrades and selections: deadlines, allowances, deposits and substitutions

• Warranty: who the provider is, and what the coverage and exclusions are

• Price adjustments: can the price change before possession?

• Assignment and resale: permitted, fees, builder approval?

• Builder changes: materials, plans, grading and exterior features

• Conditions: financing, sale of your home, lawyer review

1. How firm is the possession date?

The possession date in a builder contract isn't always guaranteed the way buyers expect with a resale purchase. A new-construction agreement may give the builder the right to extend or adjust possession for reasons such as construction delays, trade availability, material shortages, permitting, inspections, weather or other circumstances described in the contract.

Before signing, understand:

• Whether the possession date is fixed, estimated or subject to extension

• How much notice the builder must provide if possession changes

• What reasons allow the builder to delay possession

• Whether there's a maximum extension period

• What happens to your deposit if the delay becomes significant

• Whether you have any right to terminate the agreement after a certain point

• How a delay could affect your mortgage approval, rate hold, current lease or the sale of your existing home

Don't assume the date on the front page of the agreement is guaranteed. If you have a hard deadline, such as a lease ending or a sale closing on your current home, have your lawyer explain the possession and extension clauses before the agreement becomes firm.

2. How are deposits paid and protected?

Builder contracts usually require one or more deposits. Before signing, understand:

• How much is required, and when

• When the deposit is refundable, and when it could be at risk

• Who holds the deposit, and whether it's held in trust

• Whether the deposit is covered by deposit protection, and up to what amount

Protection differs by home type. For new condominium units, Alberta's Condominium Property Act requires deposits to be held in trust. For other new homes, such as single-family homes, protection depends on the builder and the coverage offered through its warranty provider, so ask how your deposit is protected, and to what limit, before you pay it. Your real estate lawyer can explain what the deposit terms mean for you.

3. What's actually included in the price?

A builder's advertised price doesn't always tell you the total cost of getting the home to the condition you expect at possession. Confirm exactly what's included and what costs extra. Depending on the builder and property, this can include:

• Lot premiums

• GST, and whether any GST rebate has already been assumed

• Appliances

• Flooring and cabinetry allowances

• Lighting and plumbing fixtures

• Air conditioning

• Garage heater or electrical upgrades

• Decks, fencing and landscaping

• Driveway, sidewalks and exterior concrete

• Window coverings

• Basement development

• Architectural or community requirements

If an item, finish or upgrade matters to you, make sure the agreement or its schedules clearly identify it. Don't rely on a conversation or on what you saw in the show home. Eligible first-time buyers may qualify for significant GST relief on a new home; see my 2026 Alberta new-home GST rebate guide for the current rules and how it's handled at closing.

The number I want buyers comparing isn't the builder's base price. It's the all-in cost of getting the home to the condition you actually want.

4. What are the upgrade and design selection terms?

If you're buying before construction is complete, design selections can change the final price significantly. Before signing, clarify:

• When design and upgrade appointments must be completed

• Which selections are included in the base price, and whether allowances are fixed dollar amounts

• How much upgrades require as a deposit, and whether upgrade deposits are refundable

• Whether upgrade pricing is guaranteed once selected

• What happens if a selected product becomes unavailable, and whether the builder can substitute without your approval

• How late changes or missed deadlines are handled

• Whether structural changes must be selected before a specific construction stage

Show homes often contain optional finishes and upgrades. Ask the builder to identify what's standard, what's upgraded and what each significant upgrade will cost in your home. Keep copies of every signed selection sheet, change order and revised price summary; they should match the final contract and closing figures. For help deciding, see which new home upgrades are worth it.

5. What does the new home warranty cover?

New homes in Alberta must have warranty coverage that meets the minimums under the New Home Buyer Protection Act. Coverage is provided through approved warranty providers and includes at least:

• 1 year: labour and materials

• 2 years: delivery and distribution systems, such as electrical, plumbing, heating, ventilation and air conditioning

• 5 years: building envelope

• 10 years: major structural components

Coverage details, exclusions and claim procedures vary by warranty provider, so review the warranty documents for your specific home. You can also confirm the builder is licensed through Alberta's public builder registry.

6. Can the price change before possession?

Some contracts include clauses that allow the purchase price to be adjusted under certain conditions, for example increases in material costs or changes in applicable taxes. Review this section carefully with your lawyer so you understand whether, and when, the price you agreed to could change before possession.

7. Can I assign or resell the contract?

Some builder contracts restrict assigning the agreement to another buyer before possession, or reselling the home for a period after possession. Even if you expect to keep the home, circumstances can change during construction. Before signing, understand:

• Whether assignments are permitted at all, and whether the builder's written approval is required

• Whether there's an assignment fee, and whether the builder can refuse

• Whether there are restrictions on marketing the property before possession

• Whether resale is restricted for a period after possession

• What happens if your circumstances change and you can't complete the purchase

Assigning a new-construction contract can also have tax and financing implications, so review those separately with the appropriate professionals.

8. Can the builder make changes to my home?

Builder contracts often allow some changes during construction, especially when a specified product, material or finish becomes unavailable. Before signing, understand:

• Whether the builder can substitute materials, fixtures or finishes, and whether substitutes must be of similar quality or value

• Whether you must be notified before a substitution, and whether you have approval rights for significant ones

• Whether the builder can change plans, dimensions or specifications

• Whether site conditions can change grading, retaining walls, steps or exterior features

Some changes in new construction are reasonable or unavoidable. The key is understanding how much discretion the contract gives the builder, and what protection you have if the finished home differs materially from what you expected.

Should a lawyer review my builder contract?

Yes. A builder contract can create obligations very different from a resale purchase agreement. Before it becomes firm, have a qualified Alberta real estate lawyer review it and explain anything you don't fully understand, including the deposit, title, warranty, possession terms, price adjustments, assignment restrictions and closing obligations. I can help you understand the process, compare builder terms and identify questions worth raising, but legal advice should come from your lawyer.

Get my free New-Construction Buyer Checklist

Thinking about a new build? My free, printable 2-page checklist covers what to check at every stage, from your first show home visit to your one-year warranty.

Get the free checklist →

Frequently asked questions

Is a builder's possession date guaranteed?

Not always. Many builder contracts allow the date to be extended for reasons listed in the agreement. Check the notice period, the reasons allowed and any maximum extension before you sign.

Can I negotiate a builder contract?

Sometimes. Builders use their own standard forms, but price, inclusions, upgrades, possession timing and conditions can sometimes be discussed, especially on quick-possession homes. What's possible varies by builder and market conditions.

Do I need my own REALTOR® to review a builder contract?

It isn't required, but having your own representation means someone is looking out for your interests when you compare terms. See Do I need a REALTOR® to buy a new build in Edmonton?

Working through a builder contract with me

If you're considering a builder purchase in Edmonton, Sherwood Park, Fort Saskatchewan, Devon, Spruce Grove or Stony Plain, I can help you compare the contract, specifications, upgrades and overall value before you make the agreement firm. Call or text me at 780-220-8449, or book a 20-minute call.

Jay Lewis | REALTOR® | RE/MAX Excellence

Sources:Government of Alberta: new home warranty · Alberta public builder registry · Canada Revenue Agency: First-Time Home Buyers' GST/HST rebate

This article is general information, not legal advice. Have a licensed Alberta real estate lawyer review any purchase agreement before you sign.

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