Broker Associate
508-826-7661
[email protected]
www.lisashawsells.com
By Lisa Y. Shaw
Are you one of the many buyers in the market who’s been looking for what feels like forever and you just can’t find a house you love everything about…or even worse, you’ve found them and made offers but the competition is so steep you haven’t been able to get one of your offers accepted.
The thought may have crossed your mind to blaze your own path, change directions and make your housing dream come true. As a 25-year seasoned real estate broker and licensed Construction Supervisor I can tell you, there’s a lot to think about! Financing a new home can be challenging and requires a larger down payment. Most banks require a 25-30% down payment on a land only purchase. That and the challenging task of finding a buildable lot can really put a damper on your new idea. But don’t give up! Once you do find a lot, have spoken to the town to make sure it is buildable and can handle the type of home you want to build, and you have the down payment…great news; you’re onto the next step. Are you going to be your own General Contractor and sub everything out to various contractors or are you just going to choose a builder and have them GC the project? Either way you go there are a lot of decisions and a lot of overseeing that must go on to ensure your home comes out the way you planned. From choosing your floor plan right down to the smallest little details, every decision must be made on time so that it doesn’t result in costly re-dos. So, is all the time, effort, and stress worth it? Well, if you want it exactly the way you dreamt, then yes. It’s really the only way to get everything you want without sacrificing or settling on a home that’s already built. Although costly, it can be extremely rewarding at the end of the project to sit back and enjoy the masterpiece you’ve built. New construction in Massachusetts has increased drastically over the past year due to the lack of lumber and construction supplies so do your homework first!
What’s the flip side? Buying an existing home is quicker, less stressful and generally more cost effective. It’s also more environmentally friendly since you don’t need to use any additional green space but alternatively some older homes are not very energy efficient and need updating. A third alternative and one that can offer more equity in a shorter amount of time might be an option too! Find a home that’s older or outdated; adding and updating it with energy and environmentally friendly amenities as well as some current cosmetic details can be a fun and rewarding way to get the best of both worlds. There are even tax credits out there for doing some of the eco-friendly options, so be sure to ask your Realtor for her suggestions and opinions. Life is full of options, choosing the one right for you is best done with a lot of information and professional guidance by Lisa Shaw, Your Realtor for Life. Contact Lisa at: 508- 826-7661 or [email protected].
Lisa Y. Shaw
Broker Associate
508-826-7661
