How to Save Thousands by Building Rather Than Buying Your Dream Home

Building your Ankeny dream home is often the more flexible and a cheaper alternative to buying an existing home.

Buying a new home can certainly be an exciting process. Exploring new neighborhoods and walking through prospective dwellings provides ample opportunity for your imagination to run wild.

The problem with buying an existing house is that it never quite lives up to all your expectations. Too many buyers often feel like they must settle for a home that meets 75% of their wants or needs. The truth is that you can almost always find one or two key features you wish you could change whether it be those worn countertops or that hideous shag carpet.

How Much Does It Cost To Build A Home In Ankeny, IA? It Might Be Less Than Buying An Existing Home

Choosing to purchase a new home is a huge financial decision, equating to hundreds of thousands of dollars for most homes. On top of that, most homeowners reside in their home for upwards of 13 years or longer1! If you are investing so much time and money into your new residence, you should get exactly what you want out of it.

What most buyers don’t realize is that there is a simple way to get the most home for your buck that doesn’t require you settle or sacrifice key features that you might care about. The answer: build your dream home.

Recent estimates show that the average price per square foot in the United States for an existing home is about $1232. This is more than the average $114 per square foot it takes to build a new home as indicated by a new study conducted by the National Association of Home Builders3.

Turning to new construction versus purchasing existing inventory you will find you don’t have to battle the tight competition plaguing the market today. Similarly, you can destress knowing you will be able to customize your Ankeny home exactly to the specifications you want.

By building, you know exactly what you will be getting. Locally owned and operated Redwood Builders champions new home construction as a preferred alternative to buying existing homes that are both overpriced and that lack specific amenities homeowners need now more than ever.

They have helped hundreds of families build their forever home by cultivating high quality homes through exceptional communication and expertise.

If you are actively searching for a new home in the Ankeny area, consider these quick facts that could save you thousands by choosing to build rather than buy.

Pay for Only the Space You Need

Many homebuyers make the mistake in buying a property only to find out a few years in that they need more space. Whether it is adopting a new pet or having children, buying existing housing now means you may end up selling soon after.

But there are tangible costs to transitioning from one home to another. For example, you may need to invest money back into your home for updates or maintenance to prepare it to sell. Or another added cost to factor in is your realtor’s commission which can diminish the profits from your sale.

You could always consider building an addition on to your existing home but that in-itself can be expensive. You also run the risk of having to jump through hoops in terms of local zoning and code restrictions.

Alternatively, building a new home provides you the opportunity to plan for the future by specifying just how much home you want to construct. This flexibility allows you to plan for current as well as future needs, saving you more money through potentially less turn-over.

Furthermore, Redwood Builders offers a variety of different floor plans that will enable you to optimize your space and avoid the headache of spending money on major renovation projects. No need to knock down walls to get that open-floor concept. You can get it right from the get-go.

More Customization and Flexibility

The best part of building your dream home is that it offers you the opportunity to truly customize your home exactly the way you want it. Redwood Builders offers multiple custom finishes and amenities so that you can feel confident that your home will be unique to your personal design preferences.

You also have flexibility in how you want to allocate your budget. Choose from a variety of pre-set options or you can upgrade particular features that you may use more frequently. Cabinets and countertops are a great example, of which you will not have the choice of selecting when buying an existing home.

Flexibility means building within your budget and selecting features you truly want, not just going with what the previous owner currently has installed.

Less Unexpected Maintenance Costs

All too often new homebuyers will buy a new home only to find that certain features are near the end of their useful life. This forces you to sink a substantial amount of money in things such as appliances or utilities. You don’t want to put yourself in a situation where it’s winter, below zero, and your furnace stops working.

By building a new home you get the peace of mind knowing that your home is brand new. A new home should have no initial maintenance issues when properly constructed meaning you won’t have to worry about added maintenance costs right away. This can be extremely important especially for buyers that are on a tighter budget.

Choosing the Right Partner When Buying or Building

Most prospective buyers will do their own research before making a large purchase. You wouldn’t commit to buying a new car without test driving it first, would you? The same holds true when figuring out who to partner with, whether you are buying or building.

However, many homebuyers fail to research who they are getting into bed resulting in them mistakenly paying more for their home. This happens often when you use a realtor to purchase an existing home. Contrary to popular belief, not all realtors are the same and you could be stuck paying huge commissions on a purchase when you may not have to.

The same can hold true when building, which is why you want to go with a reputable builder that will work with you throughout the entire process and communicate with you on any changes or milestones along the way.

This is why so many clients choose Redwood Builders. Being a locally owned and operated company, they pride themselves on higher standards to provide a truly exceptional experience that will ensure a smooth transaction and relationship.

Sources

1 Moon, C. (2020, June 19). How Long Do Homeowners Stay in Their Homes? Retrieved February 17, 2021, from https://www.valuepenguin.com/how-long-homeowners-stay-in-their-homes#:~:text=As of 2018, the median,to stay in their homes.

2 Heidenry, M. (2019, August 21). What Is the Average Price per Square Foot for a Home-and Why Does It Matter?>. Retrieved February 17, 2021, from https://www.realtor.com/advice/buy/average-price-per-square-foot-for-a-home/#:~:text=According to the latest estimates,you live and other factors.

3 NAHB Economics and Housing Policy Group. (2020, February 3). Cost of Constructing a Home. Retrieved February 17, 2021, from https://www.nahbclassic.org/generic.aspx?sectionID=734&genericContentID=271883&channelID=311