Buy or Build, Lessons from Rochester’s Realtors

So you’ve searched the web on your own and visited numerous properties online. At this point you may have more questions than answers. What you wanted at the start was a home to purchase. But it’s clear that available homes are in shorter supply than potential buyers. Since 2016, home sales in general have remained a seller’s market. Nationally this is still the norm even with interest rates beginning a slow up-tick. Under most circumstances, sellers would see the writing on the wall that it’s time to begin pressing forward in earnest and sell.

But in Rochester, New York…

One of the advantages of both the economic downturn as well as the recovery in our region is stability. Rochester is often considered to be one of the more moderately priced, family friendly cities in the United States. Along with that stability comes an overall “tempering”. In affect this means “No huge swings in either direction”. Although that can make a comfortable place to raise your family, it can also mean finding a home for sale that meets your entire wish list may be challenging. Rochester and western New York State resident are stabile and less inclined to move.

Building vs. Buying May Be Your Answer

There are inherent differences to keep in mind while considering a “new build”. There are many customers the Sharon Quataert team has worked with over the years for whom this has been the very BEST of solutions. Let’s review the list below and consider if building is right for you.

Location – Location – Location

Yes, this rule still applies. No matter how beautiful your home, you’ll want it WHERE it makes the most sense for you and your family. Research the community in which you’re interested. Not sure how to do that effectively? Work with a professional Realtor. You can discuss the things that interest you most. Sharon Quataert Realty has resources that the average consumer probably does not and is happy to work with interested customers. Remember that the seller most commonly pays the Realtor’s commission. So working with a professional costs the buyer nothing.

Pre-Qualification

Working with a lender who understands your goals as well as your history and preferences is a huge plus. The Sharon Quataert team has considerable time invested in this industry. Those years have provided the opportunity to work with many home-buyers as well as lenders. Guidance through this process is provided in order to ensure your experience is as positive as possible.

Square Footage vs. Upgrades

This is more than a simple budget question and it should be discussed early, in order to stay focused on what benefits you the most. That means examining your needs now and considering your needs in the future.

Many first-time home buyers/builders focus solely on the bottom line. For some, that means selecting “builders’ grade materials” for flooring or windows, or the next level up. Each of these items has a lifespan. Which means you can expect to repair or replace them in the future. Even the best windows will eventually need service or replacement in our Western New York climate. You can always trade out the entryway tile for marble, if you want in a few years. While that may cost a few dollars, building an addition is another thing, entirely. Planning for the square footage you want during the initial building process is often more cost effective than an addition, later.

As you might imagine, the list of potential upgrades can become a little overwhelming. These choices are personal since it’s YOUR new home. Among those the Sharon Quataert team most often sees, select upgrades will naturally create more immediate value. Some of those include adding:

  • Square footage
  • A Fireplace
  • 9-Foot ceilings
  • Hard surface flooring.

Build a home you want to live in and one that will sell, too!

Many builder and construction companies in our region have long histories and perform high quality, custom work. As professionals, Sharon Quataert Realty enjoys a long-standing relationship with builders in the Rochester community. By sharing their experience with clients considering a new home-build, buyers receive tremendous insight that’s sure to impact and benefit their future. If you’re considering options to buying or building a new home, contact Sharon Quataert Realty.

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