If you are interested in purchasing residential real estate in the Cheyenne area, you will need to determine whether to go with new construction or a resale home. When building a new house, there is no need to tour dozens of properties on the market and more opportunity to make your home your own with custom selections, but you might hear talk of downsides too. Before you move forward, it’s important to resolve myths about buying new construction to help you make an educated decision. Today, our experts have compiled helpful information about some of the most common myths.
Debunking Myths About Building a New House
Myth #1: New Construction Homes Are Too Much Alike
As a new homeowner, you have the opportunity to work with your builder to tailor a floorplan to your family’s needs or even start a custom design from scratch. You can personalize the layout and style of the house with all the design elements you love, including countertops, cabinetry, fixtures, paint colors, trim and more. Clearly, the notion that all new houses are the same is a myth. However, keep in mind that when building in a new subdivision, a homeowners association may dictate certain exterior elements of the home, such as elevation, siding material, paint color and landscaping features. This is done to standardize community aesthetics and maintain the highest possible property values for residents.
Myth #2: New Construction Homes Cost More
It is true that the list price of a new build can be higher than that of an older home, but there are other things to consider. If you want a solid investment to help you grow a nest egg over time, building a new house is an excellent option since the value of the home will likely increase from year to year. Previously owned homes have undergone wear and tear to crucial components such as the roof, HVAC system, plumbing, flooring and appliances, which may require immediate attention. In contrast, it is rare to have to pay thousands of dollars in remodeling costs or repair expenses right after moving into a new home. Most repairs will be covered by warranty in the unlikely event there is a problem.
Myth #3: Working With a Builder Is Challenging
That depends on the builder you choose! A happy home building experience comes down to choosing a reputable contractor who has a proven track record of building quality homes and delivering a great customer experience. Gateway works with buyers looking for new homes in the Cheyenne area to design a home around their unique wants and needs, and then strives to exceed expectations. Our in-house CAD designers have experience with a wide range of home designs and styles, and our project managers are always available to answer questions and provide guidance. Over more than 20 years, we have perfected the process of making dream homes a reality!
Myth #4: There Are Too Many Decisions to Make
Some people become overwhelmed by the thought of building a new house from scratch. After all, isn’t selecting every option and finish a full-time job? Again, it depends on your choice of builder. Each builder has a process they follow, some more streamlined than others. At Gateway, we believe we’ve struck the ideal balance between personalizing homes and “too many decisions to make” with our semi-custom homes. Simply choose your favorite floor plan and our interior designer can facilitate the selection process, allowing you to be as involved or uninvolved as you like. If you don’t want any decisions to make, you can shop from our selection of move-in ready homes!
Myth #5: New Homes Are More Difficult to Finance
This is not true. In fact, a previously owned home in need of major repairs can be more challenging to finance because lenders see it as a risk. If you are ready to build a home, you can get conventional loans, jumbo loans, FHA loans and even VA loans. Plus, home builders often work with preferred lenders who are familiar with the company and the quality of their workmanship so they can quickly get buyers into new homes.
Myth #6: You Don’t Need a Real Estate Agent
Some people believe that using a real estate agent will prevent them from getting the best deal or best incentive from the builder when building a new house. This is not true! Builders include the cost of commission in their marketing budget when determining the sales price of a home; they will not offer a better deal if you choose not to work with a real estate agent. It is in your best interest to seek advice from a professional realtor to get the most value for your money and ensure the transaction is completed properly. If you haven’t connected with an experienced local realtor, Gateway can refer you to members of our sales team.
One Final Myth: You Should Wait to Buy a New Home
If you are interested in new construction in Cheyenne, now is the time to take action. You can be part of one of the area’s premier communities and live in a quality, energy-efficient home constructed at the best possible value. The myth that you should “time the market” so that conditions are perfect will only keep you from owning a home and building equity for your future.
If you are prepared to buy a new home from a trusted builder, we’re here to help. Gateway Construction, LLC is currently offering exciting builder incentives of up to $50,000 on select new homes! Choose from a price reduction or a mortgage rate buydown that will make your payment more affordable during the first years of homeownership. Contact us today by calling (307) 632-8950 or submitting our online contact form to find out why Gateway is the best custom home builder for your needs. Let’s work together to build your future today!