How Risky Of A Home Buyer Are You?
How risky of a home buyer are you?
“I am looking at pre-existing homes”
It’s common as a buyer to settle on a pre-existing home for a multitude of reasons. During home tours, you will see the good, the bad and the downright ugly. But you may finally discover “the house.” Something will resonate with you. It could be the built-in shelves or that walk-in closet that you always wanted. However, even with a great inspection, there are still repair and upkeep risks that come with purchasing a pre-existing home. What was supposed to be a quick $3,000 remodeling project can rapidly turn into $30,000 overnight, when unexpected problems turn up in the walls, plumbing, etc.
“I am looking at distressed properties like foreclosures,
bank-owned homes and short sales”
This is where price wins you over. But “taking the house as is” can leave you in a rather bad spot. These types of homes are where buyers spend more money fixing up their “dream” home than if they had actually built their brand new “dream” home. Additionally, the buying process can be extended and grueling. Beware those reality shows that make this look easy: they are edited for TV and they bring their own construction crews to each project!
“I am looking at building a customized home / new construction”
Designing and building a home with a professional builder can give you more for your money. Interest rates are currently at historic lows (winter 2015). Understanding that the availability of undeveloped land is low in many areas, especially in New England, and that interest rates will rise in the future, is moving buyers forward with the construction of their dream homes. It’s important to find the right company that will work with you during this process.
There truly is no better time to take advantage of the market;
check out our available floor plans today!