If you’ve been looking to buy a home, you might have noticed that inventory of used homes is still really low. There just aren’t that many homes available on the market these days. When a previously lived in home comes on the market, it gets snapped up quickly. If you’re in the market to purchase home you’ll need to be pre-qualified and ready to jump.

Many homeowners, not finding what they want where they want it, are opting to build new homes instead of search for existing homes. Certainly, building a new home comes at a premium, but down the line it could very well save you money.

Building isn’t for everyone, but for many it is the way to go. You’re in the driver seat when you build a custom home. You get to choose the design, the location, and then you get to customize it to fit the way you live. Does it cost more to build a new home compared to purchasing an existing home? Probably, but in the long run you’ll have exactly what you want and you can incorporate features that will save you money as time goes on.

Does it Cost More to Build a New Home or Buy an Existing Home?

It’s still a seller’s market out there. Though there is some sign of it getting better, most homes still sell very quickly, often getting bid up due to multiple offers. The median price of a new home is $252k and going up.

The average cost of building a new home, according to Homeadvisor.com is $286,277, that’s a difference of $34,277. That’s a lot of money, but with that you get a location that you choose, and customization that just doesn’t come with an existing home.

Location

It’s all about location when buying or building a new home.  Of course, you’ve always got the option to move a home you love to a location you prefer, but there goes any savings and then some (the cost to move a house even a few miles can be upwards of $200k!).  When you build a new home, you get to choose the location. If you want southern exposure you can have it. If you want to have a wooded backyard, you can do that too. You have many more options when building new.

Maintenance

Existing homes come with existing maintenance issues. There’s simply no way around it. Even a new home existing home is going to have appliances that need repairing or replacing. A ten year old home could soon be in need of a new furnace, new dishwasher, new fridge and the list goes on. When building a custom home you choose the appliances you want to use. Not only will they be new, but they will come with a warranty.

Energy Efficiency

Homes built today are more energy efficient than ever before. The mechanics and appliances you choose can be considerably more energy efficient than those manufactured just a few years ago. Windows and doors have also become much more energy efficient recently. Most materials that go into building a new home have been improved drastically in the last few years. Siding, windows, doors, roofing materials and even the concrete that becomes your foundation, has been improved to be more energy efficient and eco friendly.

Safety

Today’s new homes come with all kinds of safety features not even imagined in older homes. From sprinkler systems to co2 monitoring and security cameras, today’s newly constructed homes are safe havens compared to older homes.

Smart Features

In addition to new safety features, today’s newly constructed homes have smart features built in. You won’t have to retrofit your home for these smart features like doorbells with cameras on them or all around sound system controlled by your smart phone, because they can be built right in.

Warranty

Newly built homes come with a warranty from the builder. If anything goes wrong in a certain amount of time (it varies from builder to builder) you don’t have to worry about it. Existing homes don’t come with that kind of guarantee.

From all of us at Regency Homes of Omaha, we hope you have a warm and wonderful Thanksgiving. As home builders in Omaha, we know how important home is this time of year. Family and friends come together to celebrate the magic of the season. To share a meal, a story, a laugh and spend time together. Generations come together to make new memories and cherish those who have passed. We design our homes with these moments in mind and are so grateful that you have chosen us to build a place where your family comes together in love. Thank you.

“O God, we thank you for this earth, our home; For the wide sky and the blessed sun, for the salt sea and the running water, for the everlasting hills and the never-resting winds, for trees and the common grass underfoot. We thank you for our senses by which we hear the songs of birds, and see the splendor of the summer fields, and taste of the autumn fruits, and rejoice in the feel of the snow, and smell the breath of the spring. Grant us a heart wide open to all this beauty, and save our souls from being so blind that we pass unseeing when even the common thornbush is aflame with your glory. O God our creator, Who lives and reigns for ever and ever.”

— Walter Rauschenbusch

From all of us at Regency Homes, have a safe and Happy Thanksgiving!

This month’s featured floor plan is the Peyton 1820 from our Trilogy collection of home floor plans. The Payton 1820 is a lovely ranch style home with basement, 3-4 bedrooms and 2-3 baths and 3 car garage.

Featured Floor Plan: Peyton 1820

Build Your Home in Omaha

If you’ve been thinking about building a home in the Omaha metro area, and are interested in practical floor plans, then be sure to take a look at the Payton 1820. This is a design for many stages of life. Starting a new family, this is a great design to grow with you. Have you recently become an empty nester and want to pare down a bit? This home is perfect for those with older children or those who have moved out. Main level master means this is a great home for those thinking about aging-in place.

Main Level Living

Enter this lovely home from the front entry. Through the foyer and you’ll find yourself in the great room with 11′ ceiling and plenty of sunlight from the transoms. Built-in fireplace and entertainment cabinet makes the great room a place you’ll love catching up on the latest binge-worthy show or just entertaining family and friends during the holidays. The great room is open to the spacious kitchen and dinette, making this a great design for those who enjoy entertaining.

Amenities

The master bedroom suite is located beyond the kitchen and features a boxed ceiling, large walk-in closet and spa-like master bath. The bathroom features both a soaking tub and separate shower and includes a private toilet area. You’ll find the laundry room and linen closet just down the hallway with access to both the 3 car garage and kitchen pantry.

The 2nd and 3rd bedrooms are located on the opposite side of the home from the master suite allowing for a little privacy and quiet. The bedrooms are separated by the second bathroom. Each bedroom has amply sunlight and spacious closet.

Optional Lower Level

If you choose to finish the lower level you’ve got the option of a 4th bedroom and large family room. The third bathroom is located in the lower level and the space could be used as a mother-in law guest area or second family room for those Sunday afternoon football viewing parties.

To learn more about this lovely floor plan from our Trilogy collection of floor plans, please click here to email us.