December 2nd, 2009 3:00 PM

What current real estate market factors would cause a potential home buyer to choose to build rather than buy an existing home?  Where would a home buyer expect to get the biggest “bang for the buck?”  Here are some things to consider:

 

First, new construction  is not selling as rapidly as it has in the past.  This market has forced builders to offer concessions on slow moving homes that will have an immediate negative impact on the value of neighboring homes.

 

Second, new construction  typically cost more per square foot than an existing home.  It may be necessary for you to have much more cash up front to build a new home than to  purchase an existing home.

 

Third, declining values have affected the majority of the  real estate market.  The certainty of what exists in an established neighborhood is greater than the unknowns in a newly developed area as far as future property values. 

 

Now is a great time to take advantage of what the existing market offers.  You will be taking a solid step toward finding yourself in a better position when the market finally turns. 

Type the characters you see in this picture, click "Submit" when finished.

		This helps us prevent automated programs from creating bogus contacts and adding them to your contacts database.