Have you ever considered building your next home instead of buying one that already exists? Might seem like a lot to do, but it actually has a lot of benefits, especially in today’s market! Here’s Kelsey Saldana with the inside scoop.
Today we are talking about build versus buy…
This is a common question that we get, deciding whether to build or purchase a house is a classic problem a lot of homeowners are currently facing. Everyone will have their reasons for picking one over the other and it’s ultimately about what’s right for you. So it might be the ideal time for you to secure a preexisting home deal with mortgage rates remaining at an all-time low while home prices continue to rise. With new construction, you are going to need time. On average, we’re looking at three to six months for getting into a new property. The more custom you are, it may even take a little longer.
So, is building or buying right for you?
It depends on what you are looking for, your financial situation, logistics, and where you’re looking to live. It’s important that you take the time to weigh the different options as far as price-point, quality, and how each meets or fails to meet your family’s needs.
Building can eliminate the multiple offer situations that we are currently seeing on most properties and it can also be a super fun process. With building a new home, you get to make all the choices, literally every single one. You choose the lot, the style of home, the floor plan, the colors, cabinets, and flooring. You can decide where you want to splurge and where you feel like you can just take the standard features being offered. New home construction incorporates the latest trends and styles that many homebuyers are looking for such as open floor plans and large kitchen islands to entertain. Some are looking for that elaborate master suite with his and her walking closets and home office space. A new home will have no lingering odors or mold issues that you could possibly run into with a preexisting home. This can be very important if you have a family member who suffers from allergies or asthma, you can expect clean air and comfortable moisture levels with a properly designed, constructed, and controlled new construction property. You also have a choice on the materials and the level of efficiency above and beyond the current building codes, resulting in lower utility costs and a smaller carbon footprint.
If you’re interested in new construction, this is something we can all go over with you. So, you know, your different options out there. In Minnesota, a builder must provide you a one-year warranty on the entire home, a two-year warranty on all of the systems, and a ten-year warranty for the structure.
Since everything in your home is new, you won’t have to budget for immediate potential repairs or replacement of appliances that you may have to do in a preexisting home. Building can be a great way to get exactly what you imagined in your next home. We are here to help you through the process and you will also work with designers to help you coordinate all items within your new home.
If you have any further questions on new construction, please feel free to reach out and we would love to guide and educate you through the process!
Guiding you home,