New Homes vs Existing Homes?

March 1, 2014

There’s still good buys on vacant land, and developers in planned communities have great inventory to build your new home just the way you want it. The pro of buying a vacant lot outside many planned communities (not all), is that you can custom design your own home and floor plan exactly like you want it. Most planned community builders have range of specific floor plans in varying square footage you have to chose from, providing only options on upgrades cabinetry, pool, floorings, fixtures, finishes, etc. It just depends on whether a developer home has floor plans and options that meet your needs, or whether you want to start with a “clean sheet of paper”, and customize your home to your specific needs and desires. in some cases, the cost to do either option can be reasonably close, depending on the price of the lot you purchase. Developers have “lot premiums” for the most desirable lots in their development, so the cost of a lot can go up significantly even in a development depending on what lot you choose. We have researched many of these variables, and can be a valuable resource for you as you consider the various options. One final consideration, is that planned/gated communities generally have many amenities included in the development and lush common areas that need ongoing maintenance. Expect to pay significant monthly fees to cover the cost of the shared clubhouses, pools, landscaping, guards/gates, etc., versus stand-a-lone lots located outside of specific communities where there are minimal if any annual fees.