Do you want to live in an up-and-coming city with beautiful mountain views and a close-knit community atmosphere? If so, buying one of the Cumming houses on the market and relocating to this charming Georgia town could be the perfect move for you. The Cumming real estate market, like the majority of markets throughout the U.S., has seen prices climb and inventory drop since the pandemic hit. This can negatively impact those looking to buy as selection is limited and multiple offers or bidding wars on properties can drive prices beyond many buyers’ budgets.
One of the ways to ensure you find the home of your dreams is to forget the multiple listing service and instead work with a builder to have a custom home built. While there are plenty of pluses to building, it’s not for everyone. Here’s how to determine if building new construction homes in Cumming is for you.
Figure out your budget
Before you decide to look for builders, you need to take a good look at your budget to see if you can afford to build a custom house. While existing Cumming houses can be purchased for as little as $165,000, new construction homes come with a higher price tag. Though many builders offer floor plans that start in the low- to mid-$200,000s, you will still need to purchase a lot of acreage on which to build your new place. Lots range in price from as little as $15,000 for a 4,356-acre lot all the way up to $13.5 million for a 54-acre lot. The price you pay will depend on how much land you want and what neighborhood you hope to live in.
In addition to the house and the land, you must budget for permits and consultants, such as structural engineers, architects, and other professionals. Depending on the type of lot you choose, you may also have to budget for some significant landscaping. The best way to accurately estimate costs is to work with an experienced Cumming real estate agent who partners with local builders. Your agent can help you get a better idea of overall costs and connect you with a builder who specializes in your price range.
Understand your timeline
One of the issues that can trip up those who think they want to build new construction homes in Cumming is the timeline of the project. On average, it takes around seven months to build a custom home from start to finish. However, there are numerous variables that can push this to a year or even two years. They include whether you need architectural drawings and authorizations, whether there are back orders or shortages of construction materials, how far out the builder is booked, and whether there are lots available in your desired neighborhood. If you are in a hurry to move into a new home, building a custom house may not be the best option for you. Of course, with the lack of inventory of existing houses, you may still end up searching for a home for months and never find one that meets your exact needs.
Determine how much you want to decide
Custom homes are called this for a reason. You can customize them to your exact tastes and preferences and make decisions on things including which lot to purchase, flooring types, floor plan configuration, exterior trim, and much, much more. This can be exhilarating for those who want to design their own Cumming house and exhausting for others. Having too many options can be paralyzing, and the stress of having to fit everything you want into your budget can also be overwhelming. Some would rather just choose from several existing homes rather than make all the decisions that come with building new construction homes in Cumming.
What comes to your mind when you imagine making all these choices? If you look forward to customizing your home down to the last detail, building new is right up your alley. If you get short of breath just thinking about all the decisions you’ll have to make, you may prefer an existing home.
Keep all the pros and cons in mind
Just as there are with buying existing Cumming houses, there are plenty of positives and negatives to building a custom home. It’s up to you to weigh them against each other to see which comes out on top.
Pros of building new construction homes in Cumming
- You get to personalize everything.
- You won’t have to compete with other buyers for your home.
- New homes have lower maintenance costs since they are built up to current code and have updated technology.
- Most new homes have lower energy costs.
- You get to enjoy brand-new finishes, fixtures, systems, and appliances.
Cons of building new construction homes in Cumming
- You may have to wait up to two years for your new home to be finished.
- You will likely not be able to negotiate on the price.
- If you are in a new development, you may have to live with construction factors after you move in.
- Making too many choices can be stressful.
- It’s more difficult to ascertain what the end product will cost.
While building new construction homes in Cumming is not suited for everyone, it can be a good solution for those who enjoy being involved in every detail and who have not been able to find existing Cumming houses that meet their specifications. Whether you choose existing or new construction, the key to your success is working with an experienced local realtor like Trish Hauser. If you’re ready to start looking for a new home, reach out to Trish today for expert guidance.
