How much do new homes cost to build compared to existing homes for sale. Main Idaho Real Estate Insights
Less! Know why? If a home to be built does not appraise in value for similar to existing homes nearby, the bank will not provide a construction loan.

Think that through. If you cannot build a home that will appraise for what an existing home costs to purchase, you cannot get a loan. Therefore it costs less or the same to build a new custom home then it does to buy one.

So why do people buy used homes with toe nails and hair in the carpet? Maybe they don't realize how affordable new homes are plus they include new everything- paint, carpet, roof, appliances and in theory it should be better insulated. I say "in theory" because you still have to work with a credible builder!

Before you buy a home compare a new home to an existing. As long as they are very similiar and in the same area, they must be priced very similiarly.

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Trey Langford


Posted by tlangford at 3/12/2010 2:13:00 PM
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