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Klock Valin | Cheaper to Build Custom than Buy Existing Homes

  Klock Valin   In a surprising turn of events, building a custom home in 2024 is now more affordable per square foot than buying an existing one. According to a   recent study by Zillow , the cost per square foot of new homes in the United States is now lower than that of existing homes — a shift influenced by rising land costs, the growing demand for custom features, and innovative construction technology. Why Custom Homes Are Becoming More Affordable A combination of economic and consumer-driven factors is driving this trend: Rising Land Costs : As land prices rise, securing affordable lots for new builds becomes challenging. This drives up the value of pre-existing homes as buyers pay a premium for completed properties. Demand for Customization : Many buyers seek homes that match their unique needs, leading to a boom in custom home construction and, subsequently, more competitive pricing. Technology-Driven Affordability : Technological advances, like 3D printing, have...
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Klock Valin How To Subdivide Your Property for Maximum Profit

  Klock Valin In recent years, the price of property has changed, and finding quality land can be difficult. If you’re lucky enough to have a big backyard, your land could be ripe for subdivision. This post outlines how to subdivide your property, and what you need to know to potentially make a profit. What is a subdivision? Subdivision means dividing your property into two or more lots. To do this, you could:Subdivide your land and sell the new lot for someone else to develop. Build a house on the newly-created lot, which you could later sell or rent out. Demolish your existing home and build three or four townhouses. Why subdivide? Over the past few decades, our overall population has increased, while the size of each family has decreased. This means:A high value is placed on houses – and vacant land – in established areas. It’s even better if you have access to public transport and communal green spaces. There’s a shortage of available properties, especially in urban areas. A b...
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Klock Valin The Importance of a Detailed Budget when Building a Custom Home

Klock Valin    When building a custom home, it’s important to have a detailed budget in place to avoid any unexpected costs and keep your project on track. At G.J. Gardner Homes, we understand that building a custom home is a significant investment and want to help our clients make informed design decisions. Planning is a crucial step in home buying as it allows potential buyers to determine their priorities and what they can realistically afford. A detailed budget is essential to any building project, especially for a custom home build. By planning out their finances, buyers can navigate the complex process of home buying and minimize the potential financial or emotional stress that comes with going over budget. It provides a clear understanding of the costs involved and ensures that the project stays within financial boundaries. A detailed budget helps to keep everyone involved in the project on the same page and across the financial expectations and goals. It also offers a ...
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Klock Valin | How to Finance Your Custom Home Build: A Complete Guide

Klock Valin   Did you know that you could save money building a home over buying a home? It all starts with choosing the right financing option. In this guide, We will show you how to finance your custom home build.  Continue reading to review your options.  Section 1: Understanding the Basics of Financing a Custom Home Funding a custom home has a construction loan or construction-to-permanent loan, which needs detailed plans, builder approval, and payments in stages, usually with higher down payments and interest rates.  Buying an existing home is simpler, using a regular mortgage, with lower down payments and a single payment at closing. Custom home financing includes handling construction risks and fluctuating interest rates. While financing an existing home focuses on property value and stable loan terms. Short Answer:  Credit score:  A higher credit score increases your chances of getting a loan approved with favorable terms. Down payment:  custom...
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