Are you considering purchasing a new home but struggling between the idea of building a new one vs. buying an existing house? While it’s true that buying and closing on an existing home is less time-consuming, purchasing land to build might just be the better long-term investment. Let’s explore some of the reasons why.
Building Gives You Flexibility in Design and Customization
When you build a home, you have input every step of the way on the design and can ensure the final construction of all the features you want and need for your family. Throughout the process, you can work closely with architects and designers to ensure the new construction meets your expectations.
Lower Long-Term Costs in New Custom-Built Homes
Custom homes are built to meet all current building codes, can include energy-efficient features to save you money in the long run, and have a warranty should any repairs come up in the first year. In addition, you won’t have to budget for future renovations because it was already custom-built just for you.
No Bidding Wars for Current Homes on the Market
Currently, the demand for houses is higher than the number of homes available, meaning prices have increased and competition is fierce. As a result, houses are on the market for shorter time periods, and you are more likely to encounter competing bids. When you build a home, you eliminate the competition — once you own the plot of land, it’s yours for good.
Purchasing Land Is an Investment
More and more upcoming retirees are choosing to buy land as part of their retirement to diversify their portfolios and set them up for a comfortable next phase of life. The earlier you buy land for retirement, the more equity it will build. Buying land in opportune locations years before you plan to retire allows you to develop the land into the place you will eventually sell or finally build your dream home.
Enjoy the Security, Privacy and Serenity of a Gated Community at The Reserve at Leonard Farms
If purchasing land as a future investment seems to fit in with your long-term planning, the Reserve at Leonard Farms may be just the place for you. Surrounded by the beautiful Tennessee countryside, you can enjoy the modern amenities of a clubhouse, a pool and the proximity of boutique hotels, restaurants and shops in the Bristol downtown area. This private, gated community offers lots ranging from cottages to larger manor spaces. Contact us today to learn more about building your dream home at The Reserve at Leonard Farms.
