How many times have you settled for something short of your ideal? People do it all the time. We buy clothes that fit just a little too big. We buy cars that get good gas mileage but have a few more miles than we would have liked.
We compromise much of what we want because we believe that it’s just not feasible or worth the effort to do otherwise. But when it comes to something as important as a home, many people sacrifice their ideal because they believe that it is just too costly to find that perfect fit.
As a family business that helps other families find the home they’ve always wanted, one of the first reservations we hear from potential buyers is that they think it is cheaper to buy an existing home than to build a new one. This misconception has caused too many home buyers to settle before they even consider their full range of options.
Think Building is More Expensive than Buying? Think Again
It makes sense to think that something used is cheaper than something new, but this doesn’t always hold true in housing. There are so many factors at play when determining the cost of buying a home, and all of them need to be weighed before making your final decision.
Where is the property located? Perhaps the biggest factor you’ll need to consider is the location of the new or used home. If you want to live in downtown Louisville, then you’ll clearly be dealing with a different price range than you would if buying a home in a budding residential area. Building a new home in the right area can actually give you a price advantage compared to buying an existing home in the priciest neighborhood in town.
How much will it cost to make a property livable? It’s rare that home buyers find an existing house that is ready to move into immediately after purchase. And if it is primed for an immediate move-in, then you’ll be paying more for that luxury. The cost of renovating an existing home is one of the reasons that so many home buyers opt for tear-downs, where it’s actually more cost-beneficial to demolish an existing structure and replace with a new house. The reason that tear-downs are a common occurrence in the housing market is that it’s existing homes – not new ones – that often prove to be money pits.
Why Sacrifice If You Don’t Need To?
Maybe you’ll be fortunate enough to find that existing home that checks all your boxes. And perhaps you’ll be lucky enough to get it at a great price, but as all home buyers know too well, this is more rare than the optimists among us would like to believe.
When you buy a new home, you get the chance to be involved in the process. You know that everything you’ll need – the basement, the open floor plan, the double garage, the island counter in your kitchen – will be factored in before the ground is broken.
It’s true that some builders are better than others at finishing a project on time and on budget, which is why it’s important to know who you’re working with before you get started. We know that the builder you choose is perhaps the most important factor in the cost and quality of your new home, and we encourage you to meet with Ken Thieneman so he can tell you exactly what you can expect from the process.
On the Fence About Building a Home? It Doesn’t Hurt to Explore Your Options
Ken has a reputation for building high quality homes, though many people just assume that the high quality comes with high costs. In fact, many clients have come to us as a moonshot. They think that it will probably be too expensive to live in a Ken Thieneman home, but they’re so frustrated with process of searching for an existing home and meeting with other builders, that they thought it wouldn’t hurt to see for themselves. They are always glad they did.
One of the great pleasures of being in this business is seeing the surprise and relief on the faces of clients when they realize that building a Ken Thieneman home isn’t just realistic, it’s actually their best option. Being able to provide a buyer with the home they’ve dreamed of is what we take the most pride in, and we welcome the opportunity to work with you to see if we might be the right fit for your project.
For the past six years, the number of Americans buying new homes has. People are finding out that they don’t need to settle. If you’ve been frustrated by the sacrifices you need to make in an existing home search, then talk to Ken Thieneman to find out if the home you’ve always wanted might be your best option after all.