You may have heard that winter is the best time to buy a house, and it turns out that's no old-wives'-tale. It might be more convenient to shop for houses and move in when temperatures are warmer, but home buying in winter has financial benefits. It's not always possible to pick the time of year you'll go house-hunting but, if you can control that issue, you'll be glad you waited for winter to buy a house.
Prices Decrease in Winter
Experts recommend home buying in winter because they've seen seasonal trends year after year. Forbes notes that although housing prices increased in the five-year period between 2010 and 2015, each winter house prices predictably and consistently took a dip. Every year, prices peak in the summer then start on a gradual decline and bottom out in January of the following year. Around March and April is the time when they start going up again. MarketWatch points out that home prices don't plummet in the fall but instead decrease gradually about half a percent at a time, eventually descending to the lowest prices you'll see for the season. It's a demand versus supply issue. More people would rather buy and move during warmer weather, so fewer buyers mean less demand and prices drop. If you hold off for home buying in winter, the savings would be almost 8.5 percent on the average.
Why Not Buy in Meridian?
If you're considering home buying a new home, have you thought about Meridian, Idaho? Located in the southwestern part of the state, winter weather is pretty mild partially due to the low elevation of around 2700 ft. That's not to say it doesn't get cold, it does. It's Idaho, after all, and area winter precipitation is typically an inch to just a few inches of snow at a time and it generally melts off after a day or two. But sometimes it can stay for a few weeks too! But typically it means that piles of drifting snow aren’t likely to hinder a winter move too much.
If you don't know anything about Meridian, you might be surprised to learn that it is one of those Idaho towns that people from larger cities flock to because of the terrific job it does balancing a friendly small-town feel with bigger city amenities, has excellent schools, low crime rates and a very family friendly atmosphere. Meridian was established in 1893 and has always been an active hub for agricultural-based business such as farming and dairies but now has become a thriving suburb with all kinds of Medical and Tech jobs available in Meridian itself and in Boise, just 10 miles to the east.
You won't lack for things to do in Meridian, starting with Dairy Days. The dairy business is such an integral part of the community that 4 days are set aside every year to celebrate the industry that has made Meridian prosperous. Each June, the carnival sets up, dairy farmers bring their cattle into town for judging, and the residents enjoy several days of parades, rodeos, sprint car races, a pancake breakfast, theater performances, and much, much more.
There are other things to do in Meridian year-round, however. There are galleries, breweries, a family Fun Zone, races at the Meridian Speedway, and a water park. Plus, the Village at Meridian is a premier shopping complex offering stores, restaurants, a movie theater, concerts, and wintertime ice-skating, among other things.
If you're thinking about home buying in winter and want to know more about Meridian, give Jeff Stewart at Stewart Realty a call or Search for Homes for Sale in Meridian, Idaho here! He'll be happy to give you a personal tour of the Meridian area or anywhere else in Southwestern Idaho, including some great homes that fit your style and budget. Jeff Stewart, Broker/Owner 208-602-1993 or email@example.com
Meridian Idaho, with its friendly community and small-town feel along with close proximity to Boise, has been a favorite alternative to the big city for decades now. Homebuyers looking to settle here, however, have recently noticed that home values in Meridian have increased more than the national average. The median home price in Meridian is 7.0 percent higher than the national average, and it's over 3.5 percent higher than the average Boise home price. There are several reasons for this, primarily because the majority of homes in Meridian are large, family homes and are middle to upper-middle class homes that are under 10 years old. There are also an increasing number of Luxury homes in Meridian, Idaho.
One of the issues that contribute to increases in home prices is a good job market. With Forbes proclaiming Boise as the hottest job market in the nation, fewer people are leaving, and many are moving into Southwest Idaho. Home buyers are flocking in from California, Oregon, Washington, and Nevada and many other states and settling in Meridian because of its low cost of living, low taxes, excellent schools, low crime rate and overall excellent family environment. One glaring statistic to show how Meridian Idaho is being affected by growth is that roughly 1 in 3 homes sold in Meridian in 2016 was a new home.
Limited Existing Home Inventory
Another influence contributing to rising home prices in Meridian is low inventory. The demand for homes has been incredible and hard for local builders to keep up with. And everyone knows what happens when there is high demand and low supply, prices go up. Though new construction is going on full-tilt, it's still difficult to keep up with the housing demand. With a need for more construction, comes competition for quality tradespeople. Just as with housing in general, when there is a limited supply of reputable, qualified contractors, the price for construction labor goes up, one of the factors affecting building costs in Meridian, Idaho.
Even though many new companies are coming to Meridian, it is still somewhat a bedroom community to Boise. That means building new homes in Meridian, Idaho will be going on for decades to come. Most of all though, people buy a home for its location and Meridian is the top choice for many so the local housing industry appears to be on solid footing for now.
Building Costs in Meridian, Idaho
Building costs in Meridian, Idaho, as well as nationally have been on the increase. The Wall Street Journal charted the rise of construction costs over the last 7 years, showing a steady and constant increase that has been caused by more than the number of available contractors. Everything from the availability of materials to developing them and transporting them influences how much they cost and consequently affects the overall final building cost in Meridian, Idaho.
The Emergence of New Premier Meridian, ID Communities
When an area like Meridian starts growing, much of the building focuses on upscale homes. Many of the new homes in Meridian, Idaho are in new premier Meridian, ID communities. These neighborhoods include the newest of the new homes in Meridian, Idaho, freshly constructed residences that have trending floor plans and loads of luxury amenities such as granite countertops, hardwood floors, master suites separate from the rest of the house, and much more. The median home price for a newly constructed home in Ada County is $297,450 so, even though Meridian home prices have gone up, houses in these new premier Meridian, ID communities are surprisingly affordable, especially considering the features they offer.
Whatever price range you're shopping in, finding new homes in Meridian, Idaho is easier with professional help. With experience in building and appraising homes, Jeff Stewart knows quality construction and is a pro at home valuation. Whether you have your eye on new premier Meridian, ID communities or are looking for property suitable for building new homes in Meridian, Idaho, Jeff and the team at Stewart Realty can help you find it.
Many people might think that Christmas is pretty much the same wherever you go, but Christmas in Boise Idaho is an especially magical time of year. The festivities start in mid-November in anticipation of the holiday and run through ringing in the New Year. If you live in the City of Trees, you're probably aware of all the festive things to do during Christmas in Boise. It's well worth the trip, though, for those from other cities or even out of state to come experience the festivals, shopping, and ceremonious displays that demonstrate why Idaho holiday cheer makes Christmas in Boise Idaho the most wonderful time of the year.
Christmastime in Downtown Boise
Elegant and classic, downtown is the ideal setting for Christmas in Boise. The season is ushered in with the annual tree lighting ceremony in November. The mayor traditionally sets the holiday tree aglow in Grove Plaza the day after Thanksgiving, and it remains decorated and radiant for all to see until after the New Year. The ceremony itself includes candle lighting and caroling, and the entire community is always on the guest list.
The Boise Downtown merchants love spreading Idaho holiday cheer and have made window decoration their own tradition. Christmas in Boise Idaho isn't complete unless you take a stroll through Downtown Boise in December to take in the creative, whimsical, and charming window art. Make it Downtown within the first two weeks of December, and you'll be able to cast a vote for your favorite.
The Reason for the Season--Live for Christmas in Boise Idaho!
Anyone can set up a Nativity scene in their living room or front yard, but Christmas in Boise includes live Nativities in honor of the true meaning of Christmas. There's something extra special when the créche is brought to life, giving everyone a genuine vision to reflect upon. Mix 106 notes that two churches in the Treasure Valley present live Nativity scenes during the holiday season. This year the Meridian Seventh-Day Adventist Church offers nightly showings December 13 through 15, and the Five Mile Church of the Nazarene's live Nativity can be viewed December 20 through 22.
Winter Garden A Glow
The Idaho Botanical Garden is impressive in full bloom during the summer, but the Winter Garden A Glow is truly a holiday sight to behold. Anyone who has experienced Christmas in Boise knows that the Garden puts on an extraordinary display that is as beautiful as it is full of Idaho holiday cheer. Over 300,000 colorful, twinkling lights are artistically arranged, adorning the bushes, trees, and other displays, but that's only part of the many elements that create a festive atmosphere in the Garden. A model train dubbed the Holiday Express rolls through the glowing winter garden, and Santa is on hand with his trusty reindeer Prancer to greet and delight all visitors of any age.
Visits With Santa
And speaking of visiting with Santa...Christmas in Boise Idaho wouldn't be Christmas at all without access to St. Nick. Fortunately, he thoroughly enjoys Idaho holiday cheer and makes frequent appearances throughout the Treasure Valley during the entire month leading up to Christmas. He's on-hand for photo-ops and to receive wish lists at the Boise Town Square Mall as well as the Village at Meridian. Santa knows that kids young and old aren't the only ones who want to see him during the holiday season, so he also schedules some time for his Paws and Clause event to give special attention to his furry fans.
Most communities have a collection of neighborhoods that go all-out when decorating for the holidays, and Boise is no exception. Naturally, some of the most beautiful homes in the city deck their halls and exterior walls with colorful lights and lawn ornaments. That's why Christmas in Boise is always a delightful time to take an evening drive because it's the best time to view the light displays that range from attractive to outrageous. Some homeowners, like one in particular on Tiger Lily Drive, have gone to the trouble of synchronizing their blinking lights with music. If you're in the mood to drive a bit further, rumor has it that nearly all the homes in the Hidden Springs community are decorated and lit for your holiday pleasure.
Pickin' a Tree
No matter how technology improves and how realistic tree manufacturing companies can make an artificial tree look, nothing beats the real thing. Because Idaho is a wilderness state full of several types of conifers, picking out your own live tree, cutting it down, and bringing it home is a traditional part of Christmas in Boise Idaho. PickYourOwnChristmasTree.org says that the Boise National Forest allows tree harvesting just for that purpose, and permits go on sale in late November. Up to three permits per family can be obtained and, at just $10 a pop, that's some authentic Idaho holiday cheer that's very affordable.
Traditional holiday entertainment is big around Christmas in Boise, and there is plenty to be had all through the month of December. Early in the month, the Boise Philharmonic performs Handel's Messiah at St. John's Cathedral, and a few weeks later the Boise Philharmonic Master Chorale performs a Holiday Pops Concert. BSU's music department puts on an annual holiday concert, usually held in the Morrison Center Main Hall. Watching a performance of the Nutcracker is what rounds out Christmas in Boise and Ballet Idaho performs the classic Christmas ballet beautifully, making it an annual practice of opening up the casting to include children from all corners of the Treasure Valley to participate as extras.
Dash With the Deer
The YMCA's Annual Reindeer Dash isn't really like running with the bulls in Pamplona, but it's still a terrific way to exercise off all those holiday treats you can't say no to. Plus, it's all for a good cause because all proceeds benefit the YMCA. The actual Reindeer Dash is a 1-mile walk or run, and the entire event also includes a 2-mile and 6-mile run. Runners and walkers (of the Elven rather than zombie kind) can participate as individuals or in teams, so it's an event full of Idaho holiday cheer that entire families can get in on. The Annual Christmas Run has become known for the holiday costume contest that is part of the festivities, so pick up your packet and arrive at the starting line with bells on--literally!
Nostalgic Carriage Rides
Few things inspire the mood for Christmas in Boise Idaho like a holiday carriage ride through historic Downtown Boise. It's a holly jolly way to see the sights and enjoy the Christmas window artwork along a route that takes you from the Washington Trust Bank on the corner of 9th and Bannock to Capitol and back again.
Get in the Spirit
White Christmas, Its' a Wonderful Life, A Christmas Story, Elf... they're all classics, and every one is guaranteed to put you in the holiday spirit. The Egyptian Theatre goes 100 percent holiday, running all those movies and more starting after Thanksgiving and into December as their way of celebrating Christmas in Boise Idaho. Join them for your favorites or block out your calendar to see them all. It's one of the most enjoyable ways to make the holiday merry.
Famous Idaho Potato Bowl
For proud Idahoans and football fans alike, the Famous Idaho Potato Bowl is always part of Christmas in Boise Idaho. The Potato Bowl is the bowl game for the Big West Conference Championship. Although it's an event that sports enthusiasts in the Treasure Valley and beyond look forward to every year, it's not just about the game. The festivities last for 5 days starting with team arrivals in Boise. There are dinners, breakfasts, winter sports and go\-kart racing, press conferences, practices and more.
Spreading the Cheer
There's so much Idaho holiday cheer in Boise that it has spilled out to the surrounding cities. Places like Meridian, Nampa, and Caldwell have plenty of festive things to do, and they're just a short drive when you're spending Christmas in Boise. For example, the St. Chapelle Winery in Caldwell hosts cork ornament and crafting. You can ice skate at the Village in Meridian. There are Christmas bake sales and bazaars aplenty, and enough Christmas concerts to ensure you can fit at least one into your schedule this holiday season.
If an enchanting Christmas in Boise Idaho has you thinking of a move to the Treasure Valley, give Jeff Stewart at Stewart Realty a call. Since 2002, Jeff has worked in a variety of areas of real estate in southwestern Idaho including as an appraiser, real estate agent and broker. Jeff and his professional team would be happy to give you a personal tour of the area and some great homes that fit your style and budget. Jeff Stewart, Broker/Owner 208-602-1993 or firstname.lastname@example.org
Whether you already have a horse or two or have been dreaming of owning a few horses you know the importance of having the right real estate. And, if you are ready to make it a reality, you already know how crucial it is to do your research to make sure you have find the right Marsing Idaho horse property up front. There are many locations in Idaho that have most of the ingredients to make a good equestrian life, but one part of the state is just tailor-made to perfection. That area is Marsing, which amazingly is less than 30 miles southwest of Boise and within commuting distance of the primary job markets in the area. So if you're ready to get looking for the ideal Equestrian life, you have definitely come to the right place to find them here Marsing Idaho Horse Properties.
Marsing, Idaho sits in a large picturesque, irrigated valley with the Great Snake River running right through the middle of it. It's not just the beauty of the valley that makes Marsing Idaho acreage properties perfect for keeping horses. It’s all the other amenities the Marsing area has to offer make it picture perfect!
Location is everything when it comes to real estate, and Marsing Idaho is no exception when searching for horse properties. Marsing is located conveniently close to abundant BLM land for riding freedom, and there are breathtaking views of the Owyhee Mountains to the southwest. In fact, the beautiful Owyhee mountain range is not only a delightful and scenic area to enjoy horseback riding on the many trails, but it's a great place for horsemen (and women!) to hunt big game. With all that going for it, one visit to the valley is typically all it takes to be convinced that Marsing is the perfect place for living the equestrian life. Horse properties are available throughout the Marsing-Homedale valley, and you can find riverfront acreage, near the foothills, or as far away or close to town as you want to be. You will also find that land for sale in Marsing is a bit less expensive than the rest of the state and even a bit less than in Canyon County and it’s just a few minutes further from the Boise Metropolitan area.
Of course, in addition to location, you'll want to find that Marsing Idaho horse property that accommodates your equine herd, no matter how many horses you have or plan on having. The experts at Equine Therapy advise that you have at least 1.5 acres of grazing for your first horse and add one acre for each additional horse, depending on the quality of the pasture of course. And, considering that pasture typically needs to rest a couple of times each year, you might want to look at properties that are large enough for at least 2 acres for each animal.
And, with the price of good hay these days, the fertile ground and really inexpensive irrigation water there are lots of large acreages in Marsing that are great for hay production and offer the convenience and economic benefits of growing the majority of your horses' feed yourself. Most acreage in Marsing, Idaho comes with water rights but don't take that for granted. Search here for larger, bare ground parcels.
Horse Journals strongly recommends getting help from a local real estate expert to find the right horse property to meet your specific needs. You'll get the expert help you need with buying Marsing, Idaho properties from Stewart Realty. Take the first step by searching Marsing property listings on our website, and using the Advanced Search tab to refine the search to your specific parameters.
You know what you want and need in a horse property, and Stewart Realty is the right team to help you find the right Marsing Idaho horse properties you're looking for. Just give us a call and we will get working for you! Click here to view our Marsing Home Page.
Jeff and his team have extensive experience in Owyhee County. Having worked as an appraiser, Jeff can offer his expertise in property quality and valuation to buyers looking at Marsing property listings as well as knowing things areas where well water can be marginal or where you can tap into geothermal resources. Plus, he can help guide you on properties that will be good for hay production and can assist you in determining if the acreage properties that you're interested in have good soil and irrigation rights as well as proximity to BLM areas. Give the owner Jeff Stewart a call at 208-602-1993 or email at email@example.com.
Idaho foreclosure properties offer a great opportunity for homebuyers to get into a home for less money than they would normally spend and Idaho Real Estate Investors to make a good profit. Sellers in a tough financial spot may sell for less than the market value if they are facing foreclosure and, once a home is already foreclosed, bank owned homes in Idaho can sell for anywhere from 50 to 80 percent of market value. Mostly what banks are looking for is to pay off the balance of the defaulted loan and recoup as much of the late fees, penalty and interest they are owed. Whether you're interested in buying an Idaho foreclosure property to flip or just want to find a nice home for your family at a great price, there are steps to take when buying a foreclosed property.
Get Your $$ Together
The process for buying bank owned homes in ID is a little different than a typical buyer/seller transaction because you won't be dealing with just one or two people. There is a lot of red tape to go through and, often, there are multiple levels of approval on the bank's side. The extra time it takes to receive and accept an offer on Idaho foreclosure properties, however, should not give you a sense of having ample time to get your funds together. There is stiff buying competition for many foreclosure listings in Idaho, so you'll already want to know how much you can spend on a home, have you loan pre-approval and have the down payment ready and waiting. That way, when you find a property you are interested in and your offer is accepted, you won't lose the opportunity to a cash buyer who has ready funds. Tip: look into a HUD 203(k) loan. It will allow you to finance the home and the necessary repairs to be completed after closing but only if you'll be owner occupying the house.
Contact a Real Estate Agent
When you are interested specifically in foreclosures local real estate agents have the scoop on Idaho foreclosure properties. Banks and financially stressed homeowners list foreclosure homes with them because brokers and agents are experts in selling homes. They know how to market houses to sell them as quickly as possible, an important element when a home has been foreclosed. A real estate agent can provide a list of Eagle, Meridian, or Boise area foreclosures and take you to tour them, so you can see them inside and out for yourself. A real estate agent can also tell you what similar homes are selling for so you can bid wisely, but competitively.
Get an Inspection
A home inspection is especially important when you're considering buying a foreclosed home. Many only suffer from neglect, but some have actual damage that may have been present for as long as before the foreclosure. It is reasonable to expect there to be at least minimal repairs needing to be done, but a professional inspection will reveal the trouble areas so you can get an estimate of repairs from a contractor. Also, some disgruntled former owners will take appliances and other important items from the home, some of which may not be visible.
Make an Offer
Once you know what price range your potential home is in and what repairs will be necessary, you can calculate how much you want to offer on the home. If you're not facing much competition for the house, you can start with what the home would sell for if it were well maintained, subtract what the repairs will cost, and then make an offer for 80-90 percent of that amount. An alternative approach would be to offer 15 percent below market value, provided that there isn’t too many major repairs that need to be done. If those two figures overlap, then you know your bid is realistic. This is another area where a real estate agent can help. You will have to decide on the actual price that you bid, but he will be able to offer advice based on his experience with foreclosures and can tell you whether the competition is stiff or non-existent. A Real Estate Broker like Jeff Stewart can help you find great properties as well as navigate the complex process of dealing with banks and auction situations to be successful.
There's nothing new about buying a house that needs a little fixing up and turning right around to sell it for profit. Doing it in a short time-frame, however, has become a lucrative business. It's known as "flipping" a house, and some ambitious flippers even take on homes that need more than a little fixing, entirely renovating houses that are on the verge of being condemned if the profit potential is high enough. Though it sounds simple, making money flipping homes isn't as easy as buy-fix-sell. It's best to do your homework and know how to flip a house, so your investment doesn't flop.
Let Go of Emotional Attachment
One of the first rules of how to flip a house is to remember that flipping is a business. Making money flipping homes is only possible if you can turn the house around quickly, but if you are determined to make it a showplace and won't consider the first few realistic offers, any money you do finally make on a sale will be offset by unnecessary renovations and the time you spent holding onto the property.
Get Out Your Calculator
Before making an offer on a house, you need to calculate whether the possible profit is enough to make it worth it, another area where you cannot afford to be emotionally attached. You may fall in love with a home's potential and have grand plans for improvements, but you have to be able to walk away if the scenario doesn't work out on paper.
Decide what kind of ROI you want/need to see. Set a limit on how much you'll spend on renovating the house. Do a thorough inspection of the home and take notes on all of the necessary repairs, saving the aesthetic extras for last to ensure you won't go over budget. Bring along a contractor, if possible, to help give you a realistic idea of repair costs. Then, put it all down on paper. Remember to include the costs of utilities, insurance, and property taxes as well as borrowing money and selling the house. If you won't get the return you need, move on to the next opportunity.
Know What is Selling
Knowing how to flip a house means knowing what buyers are looking for. Multiple family dwellings can be just as good investments as single family homes if duplexes and four-plexes are hot real estate tickets. Take note of the types of homes that sell quickly and aim to find flipping properties that are similar but may need a little work to become to make them a match. Just be sure that the math makes sense, and the renovations and repairs will result in a house that meets your ROI goal.
Don't Chintz on the Contracting
There is nothing wrong with doing as much of the work as you can, such as cleaning and painting but, unless you are a contractor by trade, it makes better sense to leave the window replacement, plumbing repairs, and rewiring to the professionals. Also, find affordable contractors who do quality work. They may be few and far between, but contractors who are cheap but do sub-par work will only cost you more money in the long run.
Don't Give Up Your Day Job
Until you know how to flip a house, you'll need a source of income while you work on flipping houses in Idaho. It takes time to make repairs, get inspections, and get a home sold. At first, you may only make $10,000 or less after 3 or 4 months--and that money will come at the end, not in a nice, steady stream throughout the process. Keep on working full time while you work on building your flipping business.
Your current home may have been your dream house when you first bought it but families grow and priorities change, so it's not surprising if lately you've been weighing the options of a remodel vs. buy in the Boise Idaho Real Estate market. Both have their benefits, but there isn't one size fits all solution for everyone. There are things to consider on both sides when deciding between remodeling your current home or buying a new home.
First Things First
Before you look at everything involved in remodeling your existing home or buying a new one, you should take a clear look at your current housing situation to determine whether remodeling will resolve the issue. Do you still like your home, but feel that it just needs some updating or additional room? Do you still like the neighborhood and the neighbors, or have those elements changed over the years?
The depreciation of existing homes may affect whether you can get enough in a sale to pay off your mortgage and put a down payment on a new home. If you have kids, you need to consider if moving them to a different neighborhood would give them the opportunity to go to better schools. Naturally, employment and commuting are other important factors to consider. If you're attracted to a neighborhood closer to work, buying a new house instead of making home improvements would not only reduce the amount of time you spend on the road but could also land you in a bigger home with the amenities you're looking for.
Remodeling: Things to Consider
If you're leaning toward a home remodel vs. buy in the Boise, Idaho area there are still pros and cons to consider that will help you make a final decision. Living in the dismantled chaos of a house under construction may not bother you, but you'll have to think about the extent of home improvements you want to undertake to make it your dream house again. Cosmetic improvements, anything from repainting to floor refinishing or even updating kitchens and bathrooms, are typically investments that you'll be satisfied with, and that will also increase the market value of your house significantly more than they cost. If you need considerably more space to the point of building on several rooms or an entire wing, that might be more work and expense than you want to take on. It may not make financial sense either.
As for Idaho remodel costs, it's essential to do the math and check the numbers twice. This step involves thoroughly evaluating the condition of your house, so you don't end up with too conservative of an estimate. Then, even after you feel confident you have a realistic figure for renovating your home, add another 5 to 10 percent. Few home improvement projects come in under budget and unexpected mishaps or problems can always crop up. Additionally, you may get started with the home renovations and decide to add in extras you hadn't considered before.
Choosing to Buy
When debating a remodel vs. buying a home in Boise, Idaho, your current situation may make buying a new home look attractive, sometimes nothing beats that new paint smell. However, Idaho new home prices may surprise you, and you might wonder whether you can afford to buy new. Getting prequalified with a mortgage lender will make the shopping process easier because you'll already know what price range you can comfortably afford, and you will have a good idea of the taxes and insurance you can expect to pay. Though they'll only be a one-time expenditure, you also need to take moving costs into consideration. Additionally, finding a new home in Boise Idaho with the unique character features you want may require you to buy brand-spanking-new or even constructing a home from the ground up. For example, you might fall in love with one that has gorgeous hardwood flooring and the kitchen of your dreams, but the master suite might be smaller than you'd like, or maybe the bathrooms don't have the granite vanities, showers, and tubs you'd love to have.
Yet, in the choice between a remodel vs. buying in Idaho, there are just as many items on the "pros" list of buying a new home. You'll be able to move in and start living in rooms that are not under demolition. Newer homes are more energy efficient, and most already have modern conveniences built in such as Internet wiring, alarm and home automation systems, and cable and speakers throughout the house. Also, floor plans of newer homes tend to be more open and spacious, so your family will finally have room to spread out.
Good luck with your decision and if you ever need an expert’s opinion as to your home’s value, the potential contributory value of any improvements you might be considering, or just help finding your new dream home, we are here to help you make great decisions each step of the way.
Reading this gave me reason to reflect back on my own contracting adventure. Building your own home can be a truly rewarding project and a lesson in frustration all constructed from one bare lot. You will quickly figure out that patience is key. First step is deciding whether to use a general contractor or be your own. Either way you will pull permits, work with architects, engineers and designers to create the home you find most appealing to you.
Here are some important tips to help you custom-build your dream home.
1) Don't under educate yourself: gather as much information as you can before you dive into the process, use multiple sources and ask for plenty of advice from experts.
2) Don't underestimate the amount of liquidity needed to build a home: Equity is equity. It is not liquid. From a bank's standpoint their main concern isn’t how much equity you have. You could have a lot that is completely paid off and if you don't meet their liquidity requirements, you will not get a construction loan.
3) Decide what you want to build before you buy the lot: it's critical to realize when building your home that the two main issues, the ability to finance it and secondly to protect your investment are basically the same issue. Matching the size and price of the home you build with the neighborhood can help protect your investment.
4) New home and neighborhood should be equal. Realize that what you spend may not be what your home is worth: If you go into a million-dollar neighborhood and you spend $2 million [building your home] that does not make that house worth $2 million because people who are spending $2 million don't necessarily want to buy a $2-million house in a $1-million neighborhood.
5) Spend extra time and money with the architect, spec out every single detail -- every hinge, every doorknob, every cabinet knob. The point is, when you have a custom home, if you do that extra work and have your contractor check on availability of certain items … you're going to know exactly what you're dealing with and that's your absolute best remedy against having cost overruns.
6) And the one last bit of advice but not the least by any means: You'd better be in a really strong marriage and you'd better be in a situation where that person is going to give you enough freedom and flexibility to do what you have to do on the fly because you don't always have time to say 'Hey we have to do something'; sometimes you have to just make those decisions and move forward.
With all of this in mind if you are ready to move forward, feel free to contact us!
Best Regards from the Realtor’s at Stewart Realty, LLC