Why Not Build
Yes, why not build. Matthew Patane at The Gazette reports, “Homes in the Cedar Rapids area sold faster and for more money this spring and early summer than during that same period a year ago. On average, homes for sale in Cedar Rapids, Marion, Hiawatha, and Robins were on the market only for 55 days from April through June. That’s 13 days fewer than the same time period last year and 33 days less than in the second quarter of 2013.
It is not supposed to work this way. Rising prices for housing signal to builders that there is demand for new houses. The signals are not working this time because so many builders washed out of the market in the housing crash. Still, with the news like The Gazette reports, I’m surprised that homebuyers aren’t asking why not build?
Why Not Build?
The initial negative is convenience, says Jean Folger at Investopedia. You can’t just move in. Not only do you have to find the land, which will very likely not be in an existing neighborhood, you also have to factor in the time to find an architect or builder, and choose every element of the new structure. You also need to worry about systems, such as whether the land gives you access to municipal water and sewage, or requires a well and septic system, along with any environmental and other permits.
But, you are much more likely to get exactly what you want. “A new home is more efficient, especially with the new energy codes including better HVAC [heating, ventilation, and cooling], insulation and air filtration standards,” says Guy Burtt, principal with Riverstone Development Group, Inc.,
Another perk? A new house may be better for you. “A new home is less likely to have the health concerns or toxic materials of an older home – things such as asbestos, lead paint, mold, etc.,” says Burtt. And if built with certain materials the environment will thank us. “Green appliances/Energy Star rated appliances, and more efficient toilets, plumbing fixtures, and electrical fixtures allow you to build “green” for a more sustainable home in the long run. And you have the option to install, sleeve and wire for future technology upgrades, such as home automation and solar,” says Burtt.
Even though the upfront costs of building can be higher, it may be easier to recoup your investment. “You can have more significant profits with the resale of your new home. A newer home is typically more appealing than an older home to most people,” Burtt says. Also, a new home will require fewer repairs and less maintenance, which can save both money and time. And, as Burtt points out, you’ll have a warranty with a new home, so even if something does go wrong, you may still be covered.
A friend built a house when his family was young. He managed to be co-contractor. He paid the bills and he did a lot of the work like installing insulation in the walls and ceiling. In the end, he saved money and got exactly what he wanted within his budget.
Harmony Property Solutions, LLC is here to help homeowners out of any distressed situation.
As investors, we are in business to make a modest profit on any deal. However, we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. Just the simple, truth about your home and how we pay cash for houses Cedar Rapids.
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