Buying a home is one of the biggest investments most people will ever make, so it’s a serious decision and one that comes with a lot of questions. The team at Singletary Construction can answer those questions for you.
Question: Should I have a new house built?
Answer: Deciding whether to buy an existing home or have one built is a big decision that depends on several factors. For many, the idea of building a new home is daunting simply because they don’t know the homebuilding process and the idea of a turn-key solution buying an existing home is appealing. But how turn-key is it really? Let’s compare buying an existing home with having a brand-new home built just for you.
Questions to consider
When do you need to move? If you need to move quickly, you might think you don’t have time to build a new home. However, in most cases, it only takes about 90 days. When you buy an existing home, your first task is to find a home that fits your needs – often after multiple home tours involving miles of travel time and consuming several Saturdays. Once you find your potential home and negotiate the deal, you’ll typically need to allow a minimum of 30 days to work through the financing process. Depending on how quickly you find the home you want, you may spend as much or more time looking for an existing home as you do waiting for your new home to be built.
Does it cost more to build a new home than to buy an existing one? Homes prices are dictated by market value whether they are new or existing, but it’s true that new homes are typically priced at a slight premium. There’s more to this premium than simply buying a home no one else has ever lived in. Besides the simple fact that they are new and at the beginning of their expected life of use, costly components such as the roof, HVAC system and appliances are often covered by manufacturer warranties. Typically, the builder also includes a warranty that covers the home itself. Improved energy efficiency of modern construction materials, such as windows and insulation, may reduce monthly energy bills, and the implementation of more stringent building codes may mean the difference between replacing a few shingles and replacing the entire home. When you dive a little deeper into the costs associated with buying and owning an existing home, you’ll often find that paying a little bit of a premium for a new home today actually translates into significant added value and cost-saving tomorrow.
What repairs or renovations does that existing home need? Often when you find an existing home, it requires a little work. If you’re fortunate, you can find a home that only needs a few updates and some cosmetic improvements such as swapping out some of the appliances, replacing the carpet or repainting a few rooms. But you may potentially be faced with some major renovations to update the home and to make it fit your needs. With a brand new home, everything is just that – brand new! And a new home build can be tailored to your specific wants and needs including number of bedrooms, closet sizes, kitchen features, outdoor space and the color of the walls – all completed for you before you close on the home!
Is location important to you? If you’ve ever searched for a new home, more than likely you’ve found the perfect home, but in the wrong place. When you build a new home, you have the opportunity to build your dream home exactly where you want it (with a few exceptions). On the other hand, if you’re not tied to a specific location, the options are virtually limitless. One benefit to building in Clarksville is that we’re still growing! Unlike major metropolitan areas, there is still available land and room to expand. Some of the best land is yet to be developed, offering prospective homeowners several options to consider.
You can learn more about your options for building a new home in Clarksville by meeting with the professionals at Singletary Construction. For more, go to the Singletary Construction website, call 931-542-9931, or email Info@SingletaryConstruction.com.