New Construction:
Building a New Home
Owning your own home is the epitome of the American Dream.
Most homeowners start out buying an older "starter home",
then graduate up the residential scale with eventually
building their own home being the ultimate dream.
Styles change, floor plans change, family needs change. It's
rare to see a new home with a formal living room, usually
it's a great room or a den. 15 years ago, all the bedrooms
were off the same hallway. Nowadays, buyers prefer a split
floor plan. Kitchens have "islands" or "peninsulas" and
breakfast bars. Exterior styles have changed, long, low
roofed ranch homes are out, steep roof lines and Acadian are
in.
Unless you have a burning desire to build a brand new home,
you may wish to consider buying a home that is just a few
years old. You will still get many of the benefits of new
construction: newer floor plans, newer floor covering
styles, more opulent baths, high ceilings and energy
efficiency. But there are other benefits to buying a home
that is just a few years old.
Established landscaping. You won't have to put in a lawn and
flower beds, possibly fencing. Installed hardware. New homes
usually don't come with towel racks, shower curtains, blinds
or drapes. Established neighborhood. You won't have to live
with the noise and dirt of construction in the area.
"Break-in" period. There is always something that doesn't
work, a spot the painters missed, a workman who won't come
back to finish a job. Buyers skip that step when buying a
home in the 3 to 5 year range.
New construction prices ranged from $69 to $88 per square
foot last month. Average price was between $70 and $75 per
square foot, heated, under $150,000. Over $180,000, buyers
are looking at approximately $85 and up. These are "spec
home" prices, custom homes can be much higher or lower,
depending on individual requirements.
Of course, there is always the odd bargain to be found,
builders that need to sell a home that has been sitting on
the market for a while. By talking to a knowledgeable
realtor buyers can educate themselves as to what is
available in their price range and make a decision according
to their priorities.
Liz Merryman
A Seniors Real Estate Specialist
Key Realty, LLC
1247 MacArthur Dr.
Alexandria, LA, 71303
1-888-749-2600
318-442-3300
http://www.LizMerryman.com
Liz@LizMerryman.com
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