Where Can I Find My Denver Dream Home?
Everyone has their own vision of their dream home. For some, it might be a newly constructed home with pristine craftsmanship and fresh features. For other individuals, their dream home might be an existing home with more character. Regardless of which route you take, your Denver dream home is sitting out there somewhere and it’s waiting for you now. Discovering your dream house is a bit of a different story.
According to Zillow, roughly 64% of all homebuyers consider new construction during their home search, but only 9% actually follow through on purchasing a new-build home. Most real estate agents would raise their eyebrows at these statistics. Why would so many people that are interested in newly constructed homes opt to go with a more traditional option instead?
There are numerous benefits that homebuyers gain from new-build homes. From the attractive home features to the desirable location, new-builds can quickly start to feel like the best option for your needs. But, would it be your dream home? Maybe not.
When you are looking for your Denver dream home, it’s entirely possible that it is already out there somewhere! You just have to know where to look and have your priorities in order. We rounded up some of the most vital arguments that you should consider when deciding between a new-build and an existing home.
1) The Perfect Location
Whenever you are buying real estate, you must consider the location. The location of your property is, without a doubt, the most imperative factor that you need to consider. How close is the property to schools? What is the surrounding community like? Are you within walking distance of the neighborhood park? Will your morning commute take more or less time from this location? These are all important questions that you must ask about the location of your Denver dream home.
This is where an existing home wins out over a new-build home. If you opt to construct a new home, there may be a number of things that have yet to be established. There may not be much of a community surrounding your property, which means you might have to bear the weight of developing the neighborhood. That’s a lot of extra work for you that can be avoided when your dream home already exists.
2) Timing Is Critical
Don’t believe everything that you see on HGTV! There is no home renovation that can be completed within an hour and you can’t construct an entire home within a week. Do you know how long it might take to build your Denver dream home? If you work efficiently and hire effective contractors, your home can be completed within 3-6 months. And that’s a best-case scenario. All types of building issues can delay the construction of your new-build home (e.g., zoning permits, inclement weather, contractor rework, etc.).
Homebuyers are unfortunately greatly constrained by legal deadlines. You might face an end of a lease or the sale might go through quickly on your previous property. You might not have enough time to wait for your Denver dream home to be built. When it comes to real estate, timing is critical. If you don’t have the time window to build your dream home from scratch, then it might not be the right call for you and your family.
A change of real estate scenery can come with some hefty costs. Are you fully prepared to afford the final price? You might be for an existing home, but not for a new-build home. New construction pricing can be somewhat misleading for many consumers, as many people will calculate the costs by price per square foot. They might not be accounting for all of the extra costs for building materials, zoning permits, added upgrades, and the HOA fees.
When you decide to buy an existing home instead, you have less costs to calculate. Between the down payment and the real estate agent fees, an existing home may be the more affordable option for you right now. And who knows! Maybe your existing Denver dream home is much more affordable than you might’ve predicted.
Do you want your Denver dream home to blend right in with the surrounding neighborhood? Plenty of newly built homes in the Denver metro area are generic, “cookie-cutter” homes that are almost indistinguishable from one another. These homes lack an aesthetic appeal that many home seekers are looking for. Many existing homes will have their own unique quirks and aesthetic elements that are full of charismatic charm. Maybe those individualistic qualities are exactly what you’re looking for.
It is highly likely that your Denver dream home is already built and that it’s on the market! That piece of incredible property may even be more convenient and more cost-effective for your current situation.
So, how can you find your dream home in Denver? Talk with our experienced real estate agent, Grant Muller! He’ll be able to locate the best listings that accurately match your must-haves and your family’s needs.