7 Things to Know About Building

Timeline– Currently there is a very high demand for homes across the country. Couple that with building supply shortages and shortages of skilled labor, and we have a backlog of homes to be built. Surveying some of the builders in the Twin Cities, we are finding that if you bought today you may not move in for 12 months or more.
New vs Used– A new construction home in Minnesota offers you a 10-2-1 warranty starting from the date you move in. This means any major structural issues are covered for 10 years, all mechanicals (HVAC, plumbing, electrical) are covered for 2 years, and craftmanship is covered for 1 year. An existing home that is 8 to 15 years old will start to have 8 to 15-year-old problems. Furnaces, water heaters, refrigerators, roofs, and other items start to show their age.
Inventory– The Twin Cities is currently at its lowest levels of inventory of existing homes for sale in history. By choosing to build, you can guarantee you will find a home that fits your needs and wants.
Location– Location, location, location still holds true. Most of the new construction is on the outer edges of the Twin Cities where farm fields are now growing homes.
Trends– When building, you see the most current trends and floor plans along with new features not found in older homes. Think electric car chargers in the garage.
Finishes– Depending on the builder, you get to choose your paint colors, cabinets, countertops, and doors…you get to make it yours.
Costs– Building is expensive with lumber prices soaring over 40% from last year. Existing homes can often offer you a better price. Fazendin can help you factor in the wear and tear of a used home when determining which is a better value.