This short series drills down into the details of buying a new construction home. We’ll answer your questions about every step of the process… whether you already live in the Treasure Valley part of Idaho OR if you’re thinking of relocating to the Boise area… we explore how the Treasure Valley Dave team works with you remotely and the builder here. So even if you can’t be here for some or all of the process, we help you and keep you informed throughout the process.
There’s a lot to go over so let’s get started on the highlights of this episode; When?
Pro Tip: Scroll down to the video below where Mareen and I explore what this episode is all about.
EPISODE 4 - WHEN
Things to consider as you figure out the timing of your move.
- Various things can impact when you move; retirement, when the kids graduate, etc.
- Your moving timeframe (along with your desires and your budget) can influence what kind of new-construction home you buy.
Short-term (a few months)
- Limited options.
- For a new-construction home, you’ll be looking for a spec home that will be completed soon or that is already built.
- Another option is to buy an existing home that is currently on the market.
Longer-term (6 to 12-ish months)
You now have more options; Custom, Semi-Custom or Spec home… let’s consider the Pros and Cons of each…
- Custom Home
Pros:
- You get the home the way you want it.
- You are in control of the quality and the budget.
Cons:
- It’s a long process to find the land, the builder, to draw up the plans, get permits, address infrastructure, and work within the schedule of custom builder contractors.
- Substantial amounts of funds from the buyer at various predetermined stages of the process.
- Semi-Custom Home
Pros:
- Less money at the beginning of the process (compared to fully custom and, often, to spec homes).
- Semi-customizable floorplan.
- You can choose (within available options) colors, fixtures, materials (flooring, counter surfaces, etc.).
- You can choose available upgrades; additional RV bay, bonus room, extra doors and windows, etc.
- May fit into your timeframe better (6 or 8 month build time).
- Lock in the price now and protect against market changes or inflation.
- If a life-change happens, you may be able to get out of the contract and only be out your deposit money.
Cons:
- Depending on the builder’s requirements, as negotiated, you may have to have your current home on the market or sold by a certain date that could be before the completion of your new house.
- Some upgrades or customization may require an additional deposit.
- If a life-change happens and you can’t move forward with the contract, you may be out your deposit amount.
- Spec Home
Pros:
- You can wait until days or a few weeks before your target date to buy a spec home.
- You can adapt to any last-minute changes in your circumstances before committing to buying a spec home.
- Selling your current home could take longer than expected… or sell much quicker than expected; job transfer or new hire process not proceeding as planned; family illness.
- All of the design, colors and fixtures were chosen by the builder’s professional design team.
Cons:
- All of the design, colors and fixtures were chosen by the builder’s professional design team.
- If you want to make any changes to the house, it will have to be done after closing.
Much longer term (1 to 5-ish years)
Now you’ll have much more time to…
- Talk with the Treasure Valley Dave team.
- Come to the Treasure Valley for a fact-finding trip and/or vacation.
- Meet with the Treasure Valley Dave team, check out a couple houses, check out the valley, get some lunch!
- Talk with your financial advisor and pencil out a financial plan.
- Make repairs on your current home in preparation for selling.
- Create a workable plan with things to be done and deadlines for them.
NEXT EPISODE: Which building option?
Treasure Valley Dave's Thoughts
I really appreciate the chance to talk with Wil to find out more about Unlimited Creation Landscape and the various things they can do for me and my clients. Maybe you’re selling your home and the outside needs trimmed and cleaned up? Maybe you’re buying a new home and need a simple backyard put in… or your outdoor dreams made real. Or… maybe you just need your sprinklers blown out?
And if you are selling or buying here in the Treasure Valley, now you have another resource to make your life better. And if you’re buying, selling or relocating to the Treasure Valley, Mareen and I would be super excited to answer your questions and be your real estate resource. So, just call, text, email or smash that Contact Us button and let’s get connected! Maybe we can do lunch too! 
