Wednesday, May 14, 2014

Build or Buy? That is the question!


For the majority of home buyers today, a home purchase becomes a matter of compromise.  Is it more important to have an open floor plan or a first floor master suite?  Does a full finished basement have more value than a first floor office?  Several prospective home buyers have reluctantly admitted to me that they felt that the “perfect” home does not exist and that settling for second best or “near perfect” seems to be the norm.  I am here to reassure you that, as always, you the buyer have options. 


The majority of buyers are very happy to find a beautiful home, one that comes close to what they are looking for, in a welcoming neighborhood with many amenities, and at an affordable price.  Once they have cleared the hurdle of the home inspection, hopefully with very few problems, they are excited to proceed to the closing and to beginning a new chapter in their lives. 

On the other hand, some buyers are not content to settle for less than they deserve.  With the myriad of reputable builders in the area, featuring developments and homes suited to your specific tastes and finances, buyers are open to the realization that they can indeed own the home of their dreams.  Builders such as ZAMKRO, Ryan, Essex, Marrano, Alliance and offer home designs and layouts suited to the most discriminating buyer.  Buyers are able to select homes from a “production builder”, one who builds several homes in an area and buyers select from a variety of models for the home of their choosing.  Others rely on a “custom builder”, one who builds one home at a time only after careful discussion with the buyer as to their specific needs and wants.

Existing homes have the advantage of immediate occupancy in “move in condition” which many buyers prefer. They are a known product currently situated in a neighborhood, waiting for the right owners. New builds on the other hand need no updates or replacements of any sort. Buyers are purchasing the newest and latest in products, materials and features. Materials and finishes are better engineered and last longer than previous ones. Homes are far more energy efficient as new builds, saving owners money over the term of owning the home.  Buyers can decide exactly how they want their home designed, to meet their unique needs and interests.  Lastly, buyers of new builds have peace of mind that their home will not require any costly expenses, improvements or repairs while they are living there. 

Whether you decide to buy or build, it all comes down to a matter of preference.  This is to remind all buyers that options are available. You can only gain by investigating all your options, discussing existing homes in detail as well as speaking to builders. Visiting model homes in various developments and speaking to your real estate agent about what direction would serve you the best is a good start.  With the enormity of this decision never ignore all possible options.