Undoubtedly, a major reason you would choose new construction is the ability to build a dream home. Rather than adjusting expectations to fit a space, you build a space that matches your expectations. In today’s market, the options for style, size, and price point are vast and continue to grow. For example, in the same area of Alexandria, Virginia, you can purchase and design a Van Metre single family home, a Toll Brothers townhome, or an EYA condominium.
Beyond choosing a specific style, you’re able to design floor plan options that allow you to create a home that’s truly unique. Maybe you want a study in the rear of the main level instead of extra garage space, or you might need hardwoods in all the bedrooms because carpet aggravates your child’s allergies—whatever the case may be, finding a resale property that meets all your needs and is move-in ready can be a difficult task.
Choosing a fixer-upper instead of new construction
Obviously, one alternative to building new construction and still getting the house you want is renovating an existing home. There are several options when it comes to renovating a resale property as your primary residence.
The first, and most common, option is to purchase your fixer-upper as is and make small renovations and upgrades while you live there. The second option is to use what is known as a “renovation loan” when you purchase in order to have all the work completed before your move-in date.
In either case, you’ll face challenges such as interviewing and scheduling contractors, learning basic construction to ensure you aren’t over-charged, and strictly maintaining a budget throughout the process.
There are also several issues that arise when trying to use a renovation loan. It is difficult to win bids in a seller’s market using one of these loans because the timelines are much longer than those for traditional loans or paying cash. There are also fees and higher interest rates involved when using these loans. If you want a new home, it’s best to purchase a newly constructed house.
Build it right the first time
The good news is there are plenty of new construction choices available. If you’re looking at the Poolesville, Maryland area, Kettler Forlines Homes offers several flexible floor plan options for the Somerset model where the buyer is able to design the home based on need and family size.
This home has space available for multiple purposes on the main level—a second master suite, a recreation room, or a third garage. You also have the option to add an extended sunroom behind the breakfast area. This is the beauty of new construction—you get to create the ideal space with help from expert designers and builders. If you’re currently in the market you already know there are virtually endless options for new construction at every price point. A large gap in real estate inventory has allowed for an influx of new homes, and, in an effort to win your family’s business, builders and developers are offering more modern finishes and upgrades than ever before. We all have an excellent opportunity to take advantage of this competition—just make sure you have an experienced agent on your side, then get out there and start new home hunting!