Buy or Build – What is Most Important To You?

What Kind of Buyer Are You?

Price Driven – These are buyers that are driven primarily by price.  It is all about the numbers.  These buyers are willing to make compromises in the size or design of their new home as long as they stay on budget.  As a result, a buyer driven by price in a normal real estate market is more likely to consider the purchase of an existing home than to accept the additional cost that would result in designing and building a new home.

Design DrivenThese buyers are more interested in making sure they get the home design they want.  While budget may still be a factor, they are willing to pay a little more to get exactly what they want.  For this reason, a “Design” driven buyer is more likely to want to build their new home than to purchase an existing home.  One possible exception to this dynamic can be impacted when there is an inventory of existing homes that have not been completely constructed (as would be the case with a home when the Builder or Owner of the home runs out of money and has to abandon the project).  This dynamic can create a unique opportunity for a new home buyer.  By finding a incomplete home that can be finished the way the new owner want, a unique value proposition is created.  Modern Rustic Homes just finished one of these if you can to take a look:  Crazy Fox Lodge

Timeline Driven – A buyer driven by a short timeline will want to consider purchasing rather than building with one exception.  With a “System Built” solution for your new home, both price and a short build time can be successfully addressed.  In fact, new technology in the building industry has brought “System Built homes” into the forefront.  System Built home are more cost efficient, faster to build and have more consistent attention to quality control.  You can expect to save about 10% on a System Built home and get it built in under 90 days (verses 6 months to a year with conventional construction).

So What Is A Buyer To Do?

The best thing you can do when faced with a new challenge is find someone that knows more about the ins and outs than you do to guide you through the process and help you avoid the pitfalls you are likely to encounter.  As it pertains to finding or building a new home, getting it financed and helping you stay sane through the process, you might want to consider calling the professionals at Modern Rustic Homes.  They have been through this many times and are uniquely equipped to walk you through the buy versus build options as well as connect you with the right lender that best meets your specific loan requirements.  They even have a  “New Home Concierge” who is responsible for helping through the process.

To learn more, here are a few links that may be helpful:

Joe Folsom,Modern Rustic Homes New Home Concierge 

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