002: Your Four Options as a Buyer – with Dani Moss


Your Four Options as a Buyer – with Dani Moss

“We’re going to talk about buyer options; the new, the used, and the ambitious…” — Cyndie Roche

Welcome to New Home Made Simple, where Cyndie Roche and her team of home building experts make everything about buying and building a new home make sense. Cyndie is a 25-year veteran of the home building and real estate industries. Join us as she breaks down the ins and outs of making sure you get what you want when you build your next home.

On today’s episode, Cyndie is joined once again by Dani Moss. Today they’re talking about the options that buyers have when they’re looking for a new home. Cyndie and Dani discuss four options; resale, building on your own land, buying from a home builder, and inventory homes.

They discuss:

  • Resale homes: homes that have already been lived in
  • Pleading the 5th on their feelings about Zillow
  • Trusting knowledgeable advisors when it comes to values
  • Being ready to close quickly
  • “Contingency”: having a home that you need to sell before you can move into a new home
  • “Writing firm”: buying quickly and closing quickly
  • Remodeling projects
  • Average housing stock on resale is 20-30 years old
  • Pre-approval for mortgages
  • Finding a lender that can support purchase transactions
  • The Ambitious: building on your own land
    • Improving raw land; sewer, water, electric, gas, internet, septic, water well
    • 25% of your loan can go to improvement
    • Home builder lots cost more because these improvements have already been made
  • Good dirt vs. Bad dirt; soil taps are needed to ensure you can build the home you want
    • Sand and solid rock can cause problems
  • Homesites:
    • What your yard will look like
    • Orientation of the home toward the sun
    • Different houses fit better on different home sites
    • Ingrade, lookout, walkout and other home site options
  • Your home builder is your general contractor, your architect, and your designer
  • “Elevation”: Everything that makes up the front of your home
  • Benefit of working with a home builder: your contracted price is final, versus building on your own, where prices will fluctuate with the market
  • Do you have to carry a loan through the construction process? Typically no, you don’t
  • Locking in loan rates
  • Inventory homes — an excellent option
  • The bigger the builder the more likely that they’ll have multiple inventory options
  • Warranties on new construction homes; 10-year warranty on foundation and structure