Rarely does a home buyer find a resale home within a designated time frame that is exactly to their liking. It’s not uncommon for homeowners to have a running list of remodeling projects, big or small, to tailor and adjust those probable shortcomings. But, renovations are not always practical, especially after spending thousands of dollars on a down payment.
Perhaps that’s why a staggering 44 percent of Americans today feel sorry about their last housing decision, according to a recent Trulia survey on real estate regrets. And, a third of homeowners say they wish they had opted for a larger dwelling. It’s safe to assume that those buyers would have fewer qualms had they been involved in the strategy, layout and square footage of their new residence from the start.
Consider the following ways custom home building minimizes home buyer’s remorse:
Nothing creates buyer’s remorse quite like purchasing a home that you later find costs thousands or more in upkeep and repair. A new home means new materials that aren’t as expensive to maintain. Everything from your roof to HVAC system to kitchen appliances are up-to-date, minimizing the odds of damage, failure, repairs and replacements. And, those new elements typically come with a warranty that lasts up to a decade. In a resale property, the materials and equipment within the home have a shorter lifespan left and are more likely to suddenly break down. Resale home warranties are also more likely to include certain limitations given their age.
New homes are more efficient and “smart” than their predecessors. You can opt for green building materials, energy-efficient appliances or sustainable features that help curb your monthly utility bill significantly, all while reducing your carbon footprint. Energy efficient features are also beneficial for your home’s value and attract buyers when and if you decide to sell.
Many home buyers today across the nation are facing a serious lack of inventory while house hunting. Asheville and the greater Buncombe County area are widely considered seller’s markets because for-sale inventory is tight and prices are climbing fast. Last year, Asheville broke its previous records with an average asking price of $591,207 and 4,234 homes sold. Homes for sale in Historic Montford, a popular neighborhood north of downtown, saw a 4.5 percent jump in sales price over the past year. Kenilworth home prices are up a similar 4 percent since last summer. Within the Haw Creek real estate market, home prices jumped a shocking 22.6 percent over the last 12 months. It’s clear that sellers are at an advantage across the metro area. Unfortunately for buyers, this type of market may heed hasty decisions. With a custom home, you aren’t competing in a bidding war with other everyday buyers looking for move-in ready properties. Custom building gives leeway to make the right decisions without feeling rushed and minimizes overall stress related to the home purchase process.
Everyone has their own idea of what the perfect home looks like. You might love a traditional interior design scheme while the next buyer prefers a cool, contemporary aesthetic. A new custom home is designed to fit your style seamlessly without having to spend money on a remodel down the line. Custom homeowners can choose minor features like paint colors and structural elements like flooring materials. Even the exterior architectural style is tailored around your personal panache.
While pre-owned properties can be charming and unique, the floor plan was based on the previous homeowner’s lifestyle and not yours. New construction custom homes are planned with your habits and preferences in mind. For instance, families with young children may prefer playrooms or homework areas while young couples could opt for yoga studios or home offices instead. You have full control over how your additional space, whether in the basement or attic, functions.
Custom home building offers several benefits to keep home buyers happy for the long term. For more information on custom homes in Asheville, contact Bellwether Design-Build or view previous projects for inspiration.
By Jennifer Riner, Trulia
