Home prices have been something that’s been all over the news, the internet – you name it. It’s constantly being watched because its a huge part of our economy and it’s a huge part of our personal livelihood and interests. It’s a great topic of conversation, and here in Murphy NC, homes are selling for some incredible prices.
Several years back, you would have been able to build a home and have instant equity – which is why there were so many “spec” homes being built. Today, you can’t build most homes back for the price you can buy them for. If you’ve been considering a home, it may certainly benefit your pocket book and even stress level because building can be quite stressful! I encourage you to look at homes for sale to see if you can find one that fits your needs because in the long run, you can get more for your money.
Building a Home from Scratch:
This brand new chalet home can be built for $149,500 if you go with the builder’s package (which is quite nice I might add) without doing any additional upgrades.
Now, add in this piece of land that is quite nice with a mountain view and community water so you can save the cost of drilling a well.
Combine them together and you’ve spent approximately $180,000, assuming you didn’t do any upgrades or have any issues come up while you’re building (read: there’s always an issue that costs more, so $180,000 is conservative)
NOW – What if you bought something already built:
This home is right about the same size with a full FINISHED basement and the double car garage, and this chalet home is currently for sale for $174,800. If you were to rebuild it, it would roughly be $149,500 (Home) + $29,800 (Land) + $15,000 (Finished Basement) + $17,000ish (Garage) = $211,300. That also doesn’t include the cost of landscaping, etc. that has been spend on the home. Now that’s a an almost $40,000 savings!!
Don’t get me wrong – I’m not trying to discourage you from building your dream home. If you have a the perfect home you have envisioned, then building is the way to go. It can be just the way you want and out of materials you want. However, if you’re not specifically looking for something, then you should certainly explore some of the homes for sale in the real estate market.
Let’s make Murphy NC your home in the mountains of North Carolina! 🙂 Contact The Poltrock Team Today!
John Poltrock – The Poltrock Team at REMAX in Murphy NC – Murphy’s #1 Real Estate Team – www.MyMurphy.com – JohnPoltrock@gmail.com – Call Toll Free at 1-866-687-7496