New construction has historically been a major part of the Colorado Springs real estate market, sometimes as much as 1/3 of the market. In addition to the ‘spec’ homes that builders have historically made a part of our inventory, ‘pre-sale’ homes that are built to buyer specifications are a very important.
In my experience, I have found that new construction is generally the best option for buyers if:
- Only a new home will do the job. This is often the case for people who have always lived in new homes, and even a recently built re-sale home often just won’t cut it.
- The new home will have features and specifications that are not available in resale homes in the areas they are interested in.
- They are in a price range where the inventory of resale homes is not adequate in the areas they are interested in.
- The buyer has cash reserves for “finishing off” the new build, such as installing blinds, landscaping, etc.
Choosing a Builder
A lot of factors go into choosing the right builder. We strongly recommend you have an agent to represent your interests and help guide you through the process. Most of our builders want your agent to accompany you on your first visit, so call Rick Van Wieren today at 719-590-4768 to get the process started. The price to you is the same whether or not you have an agent. He can usually save you money, help make the process a smooth one, and safeguard some of your interests when it comes to reselling the home some day.
Once you have an agent, the first step is starting with a realistic price range to ensure a smooth process. This is best done by meeting with a reputable lender. While many builders want you to use their lender (and even incentivize you to do so), starting with someone we know to be competitive, honest, and thorough can avoid headaches later, even if it turns out that the builder’s lender ends up having to do the deal.
Knowing the price range helps a lot in determining factors such as what areas have new construction in that range, what builders are building in those areas, and what lots and floor plans those builders are offering.
Rick has been helping buyers with their new construction needs since 1992, and has worked with many, if not most, of the major builders of the area. He can help sort out the complexities into a set of options that make sense.