My love for construction started in 2005 when I was living in a 1,000 sq ft ranch. I soon realized this was not enough space for my family to grow. That is when we decided to put an addition on the house. I started working with Rhode Island new construction properties in 2014. Since then I have developed a great relationship with 4 different builders and a few architects. Most buyers have many questions when determining whether to build a home or buy new construction. This is why it is important to have a realtor you can trust to hold your hand and make the process as stress-free as possible. I want to clear up some questions you may have and help you decide whether or not new construction is the route you want to take.
Does It Cost More to Build?
Let’s start with the main factor when purchasing a home; cost. There are many variables to be considered when looking at the cost of building a home vs buying a pre-existing home. Buying an existing home may be cheaper at signing, but that doesn’t account for all the renovations and maintenance you may be doing down the road. When purchasing a new construction home you are able to get exactly what you want in one payment, as opposed to using liquid funds for renovations on your pre-existing home. With that being said, by the time you get your home close to what you imagined, they can both add up to be similar in cost.
Do You Have the Time to Wait?
Another consideration when purchasing a home is; time. How much time do you have or how long do you want to wait before moving into your new home? A pre-built home will be ready for move-in about 30-40 days after closing. This option may be great if you’re in a time crunch to find a home. A new construction home can vary from 6-12 months after closing. When you buy a lot in a new construction plan, the land is already zoned and there is typically already a layout, and you are able to customize the home. This option can be ready in less time than if you were to purchase your own land.
Location, Location, Location!
Location is one of the most important factors when buying or building a home. New construction communities are often built around new amenities and in up-and-coming areas. Builders are always looking for prime land to build on, which is a benefit to buying a new home. In today’s market, it may be more difficult to find a pre-existing home in the location you desire. With the help of a top realtor, it is not impossible.
So, is buying a new construction property right for you? If you said yes, great, we are one step closer! If you said no, don’t worry, Homes With Holly can still help you find the home of your dreams! You can browse new construction properties and homes for sale in New England on my site. Take a look around or contact me today. I would love to help you on your journey to buying a new home.
