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Should You Buy Or Build A New Home?

If you are planning to live in a community like Sedona, AZ you will have two choices, buy an existing home or buy land and build your dream.


Considerations for buying an existing home.

  • If the remodel is simple, then your cost to remodel will be relatively low.  Simple remodels are cosmetic in nature like pulling and replacing counter tops, new paint, new plumbing and lighting fixtures, new cabinet door fronts.

  • If the remodel involves reconfiguration of interior walls to alter the flow of spaces, new appliances, new cabinets, new electrical circuits, new rough plumbing, you need a building permit and a construction team who can demolish walls, reframe new walls, add new plumbing and electrical features.  Plan on a much larger budget.

  • If the building itself needs new windows, roof repair, insulation, foundation repair, siding repair, draining repairs or cooling and heating equipment replacements you must plan for a large budget.

  • Major remodels can more expensive than building a new home when you factor in economy of scale, demolition and hidden costs.

  • Major remodels may take as long to build as a new home to build.

  • If the home is in a poor location, you will not have a good return on your remodel investment.

  • If the home is too small, you may need an addition to make more space.  Additions require building permits and large budgets.

  • Be sure there is enough margin in the asking price to cover your remodels.  Your realtor may not be aware of all the remodel costs.

  • Check with a designer or contractor to get the current costs of remodeling.

Consideration for building a new home.

  • Home prices are rising faster than land prices in Sedona AZ.  This gives you a good margin to work with in construction.

  • There is economy of scale when you build an entire house. All the trades are in place for every type of construction, so kitchens and bathrooms are less expensive to build out.

  • You will get exactly what your want in size, flow, location and style.

Serious Male Man
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