New Construction in Wichita
Three things you need to consider when building vs. buying a resale.
1. Cost - a lot of times people think building new is going to be more expensive than buying a resale, this is not always the case. Now a days there are a lot of resales that need to be updated to meet today's trends and design concepts. Most of the time the cost it would take to remodel an existing home vs. building new is just about equal.
2. Are specials in Kansas too high with new construction?
- most "newer" neighborhoods have some existing specials still included. When you are dealing with very old homes you may not face the monthly cost of specials, but you will be dealing with the monthly cost of maintenance. Older homes have more maintenance - water heater replaced, new roof, new plumbing, new windows, new a/c, etc. So do you go new and have a monthly specials cost (which when you sell will transfer to the new owner) or do you take the risk of buying a resale and deal with the overhead monthly maintenance costs.
3. Equity - one of the most important things to consider when purchasing a home is if it is going to be a smart financial choice. A lot of times people buy resale because it is less expensive in the beginning, they can update it, and make more when they sell it. OR you can buy new in the beginning of a development, at a lower cost, and wait until the development is finished out and be able to sell your home for more than you bought it. Buying a NEW home in a Schellenberg Development is always a smart financial choice, because SDC developments have proven to gain equity year after year. They are developed to look better ten years down the road than the day you bought it.
Hope this helps...let us know if you have any more questions!