Thursday, October 2, 2014

New Homes: To Build or Not to Build?


Everyone wants to own their own house at some point in their lives. Becoming a homeowner is indicative of success and stability - the quintessential landmark of adulthood. Building equity, reaping tax benefits, and eliminating landlord woes are just a few of the many perks to ownership. It seems like a no-brainer, really.

Unfortunately, 2008 was the beginning of a rough era for real estate. The House Market Crash of 2008, also known as the United States Housing Bubble, is considered one of the most horrific economic crises in U.S. history. It put a serious damper on the ability to purchase property and caused the nation's economy to tailspin into a recession. Now, six years later, economists report an improving trend. The nation's economy is on the upswing and houses are becoming more affordable to purchase than ever. With the housing market dilemma dwindling, that leaves only one question: build or buy?

Advantages of Building

Building your own house gives you the ability to make it your own, down to the smallest detail. It can foster a unique sentimental value that cannot be duplicated by buying pre-owned. Additionally, brand new homes are less likely to require repairs or routine maintenance. Since they are usually under a warranty, any repairs or maintenance required will be completely covered. New homes are also often equipped with advanced technology and a more intuitive design, allowing for higher safety standards and higher efficiency which result in lower electric bills.

Disadvantages of Building

Choosing to build your own house is definitely the more expensive route. New homes are typically more expensive per square foot than those previously-owned. Include the cost of purchasing land, construction costs, and Homeowner's Association fees and the overall expense can put a strain on you financially. Likewise, the Homeowner's Association tends to implement strict rules you must abide by, from paint to garden demands. You should also consider the intense time commitment building requires, as there will be numerous meetings with developers and contractors from start to finish. Most importantly, the time it takes to build varies. From budget to inclement weather restrictions, the entire process could take a very long time to complete.

Advantages of Buying

Buying a previously-owned property is super convenient because you can move in as soon as possible. You can usually negotiate the price since the house might not be exactly what you want, so the overall cost is cheaper. Also, since you are already part of an established community, there is no Homeowner's Association to worry about. Overall, buying involves taking fewer risks and results in less stress.

Disadvantages of Buying

Unfortunately, previously-owned houses are often old and require routine maintenance and sometimes large renovations. Also, because these houses are older, they are less energy-efficient, resulting in higher electric bills. Electing to reside in a previously-established community also forces you to compromise on important aspects of living, including location and amenities. You can also expect an inventory shortage alongside improvements in the housing market and economy. When more people are buying, there is less to pick from.

The decision to build or buy your own house ultimately lies with you. Determine what's right for you, and keep the market for new homes in mind when making your decision. Everyone deserves and can acquire their dream house, whether it is new or used.

Some of the things we can do for you if your decision is to buy a finished home:

·       Find Your Next Home You need someone who knows this area inside and out!

·       We can work with you to find the right home at the right price for you - not to mention the essential criteria you have for your ideal home Sell a Home When it's time to move, you need someone who will advertise your home, show to prospective buyers, negotiate the purchase contract, arrange financing, oversee the inspections, handle all necessary paperwork and supervise the closing.

·       We can take care of everything you need, from start to close. Consult on Home Selling Tactics oftentimes buyers don't visualize living in your home the way you do. Anisa can make your home attractive to its ideal audience - which can help you get top dollar. Things like staging the home, making repairs or minor improvements, or even simply painting the walls can be the difference between a home resting on the market and one that's sold fast.

Feel free to browse for Homes on our website at www.atlantaluxuryhomes4sale in order to get more acquainted with what we have to offer.

For custom new homes in Atlanta, GA, look no further than Alex Custom Homes. Learn more at http://www.alexcustomhomes.com/




 Alex Custom Homes

Max and Anisa Kimmig

2640 Hermitage Drive,
Cumming, GA 30041
Office: 678-455-3636
Direct: 678-793-6474
Fax: 678-455-3637

1 comment:

  1. I want to buy new home in Arizona and want to hire some real estate agents. Please give your reviews on Luxury Arizona Real Estate.

    ReplyDelete