Why You Should Build a Custom Home in a Heated Market

The lockdown last year changed a lot about daily life for many people. This year, we’re continuing to spend more time at home than usual and our homes have really become the epicenter of our lives. As a result, many people are feeling like they want more from their houses — more space, more options, better energy efficiency, more features.

It’s no surprise then, that many homeowners are thinking about moving. Whether a buyer is looking for an office designed for a new work-at-home position, a dedicated home gym, or a guesthouse to allow Mom & Dad to age in place, there are so many reasons to build the home of your dreams.

What’s Happening in the Real Estate Market?

According to the TheStreet.com, the low mortgage rates that started in summer 2020 have created a domino effect. As 30-year-fixed-rate mortgages fell to a record low of 3.26%, more people were able to secure low-rate loans and get into the market.

According to Reuters.com, as of January 2021, new single-family house sales are also at the highest point since 2006. In a classic case of supply and demand, these factors have pushed inventory down while prices continue to rise.

Have You Hit a Dead End in Your House Search? Consider a Custom Home Builder

Let’s say you’ve decided to try your luck in the current real estate market.

You search for months and find a few homes that could do the trick with a few customizations. You put in your offer on your preferred house and soon find yourself in a bidding war. The value becomes overinflated and you find yourself wondering if it’s worth it to move right now. Even if you’re the highest bidder, you could wind up overpaying for a home that’s still not quite right. If you’re factoring remodelling costs into your mortgage loan, it might be time to consider a custom build.

It may be the right time to push forward on your dream for a custom home created just for you and your family.  Rather than continue along in the overheated, overcrowded marketplace, you could quit the search and start planning your new custom-built home instead.

10 Great Reasons for Building Your Own Home

It’s a common misconception that building a new home costs more than buying a pre-existing home.

Here are 10 advantages to choosing to build a custom home vs buying a home:

  1. New homes are easier to finance

Builders work with the most reputable lenders to get you the best possible deal for rates and terms that fit what you need.

  1. Building new lets you completely customize your home

Choose your building materials, finishes, layout, and all the special details that will make your home all your own.

  1. Your custom home will be highly energy efficient

Designed with current building codes, it will have a more effective building envelope, tighter seals, eco-conscious materials and energy-smart appliances, and an HVAC system.

  1. A brand-new home comes with a full warranty period on appliances, HVAC system, roof, and all the other typically warrantied components of a home

This means that you get to enjoy every aspect of your new home, worry-free. If something needs repairs or replacement, you’re likely to be covered by insurance.

  1. Homeowners insurance on new builds are typically less expensive than with an older property

Because your home will be built to current safety standards, you’ll see the difference in your insurance rates. You’ll see even more of a drop if you choose built-in security features.

  1. Your new home will be built with the best modern safety features.

From materials with built-in fire retardants to hardwired smoke and carbon monoxide detectors, Impact glass instead of shutters you’ll enjoy ample safety features. This also factors in to lowered insurance rates.

  1. New builds have lower long-term maintenance costs

An older home may need a new roof, plumbing upgrade, new appliances, or a kitchen remodel sooner than you might expect. Depending on the age of the home, you may end up spending more time and money than you would with a custom home.

  1. Your new home will likely have a higher resale value, for a solid return on investment

Many homeowners want a newer house that provides all the points we’ve already mentioned— lower insurance rates, lower maintenance costs, something move-in-ready that may even still be under partial warranty. A new home is a bonus for house hunters and will usually fetch a higher sale price.

  1. You’ll enjoy the best of today’s smart technology

Part of choosing custom features is the ability to choose smart technology upgrades. New buildings are designed with these integrated features, depending on what’s on your wish list. From an intuitive alarm system to built-in speaker systems, you can really have fun with the possibilities during your build.

  1. You can choose your perfect neighborhood

Whether you prefer residential neighborhoods with all the best amenities, somewhere on the outskirts, or a house far away from it all on your sprawling estate, the choice is all yours and as your builder, we’re happy to accommodate.

Let’s Design Your Dream Home

Close your eyes and picture your dream home. What do you see? Do you see soaring ceilings and wall to wall glass doors leading to your infinity pool? Tropical gardens with a soothing waterfall? A media room for guests to enjoy a movie? Instead of searching for a home that someone else built for their needs, you can have everything you’ve ever dreamed of in your brand-new home.

The decision to build vs buy can be daunting since it would normally cost more to build new than buy an existing property. However, with the market as hot as it is, you can absolutely save lots of time and frustration by hiring a builder like our team at Alair Old Naples. 

Ready to get started on your custom build? At Alair Old Naples, our team of builders and designers have lived and worked in the area for nearly two decades. We know just how unique the community is and how to develop homes that blend with the Floridian lifestyle. When you’re ready to build a home that exceeds your expectations, our professional team will be glad to host a consultation. Together we’ll plan an incredible home that’s a natural fit for you and your loved ones. Contact our team to start the building process today.