Home Buying in 55379>Question Details

301278, Home Buyer in 55379

is buying a new construction in Shakopee is good move?

Asked by 301278, 55379 Sun Jul 19, 2009

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Answers

6
Aaron Dickinson - Edina Realty’s answer
I have one client building in Countryside and another considering it. Buying new construction has many advantages but it is also very easy to go overboard on upgrades that nickel and dime you to death. If you're a 1st time buyer and buying a to-be-built it will be tight to get the house done by November 30th but should be possible for the builders... timing is critical on that.
0 votes Thank Flag Link Mon Jul 20, 2009
Buying anything in todays market is a good move as long as you have excellent professional advice and help from a Realtor you hire to represent you and your interest! Every type of home has its pros and cons but new construction has many more pros than cons! You need to weigh out those pros and cons for yourself to determine if new construction is the investment you want to make! The old adage still rings true today and that is buy low sell high!

Good Luck!
Web Reference: http://www.jmsemler.com
0 votes Thank Flag Link Sun Jul 19, 2009
There are good deals and bad deals in every city/market and every property type. This may on its face seem like a very generic answer but it really speaks to analyzing each house as a seperate investment rather than painting with a broad stroke. I would recommend that you hook up with a good buyer's agent who, as mentioned earlier, isn't affiliated with any one particular builer (they aren't bad people, but it is possible that they could be a bit biased), who can walk you through and help you analyze each property you are interested in.

Cameron Piper
Web Reference: http://www.campiper.com
0 votes Thank Flag Link Sun Jul 19, 2009
It really depends on what your goals are, both short term and long term, and the reason for your question. Are you concerned about the sustainability of the Shakopee area? Are you concerned about new construction in general? Are you moving from a different area and dont' know what town will work best for you? If you can let me know a little more behind your question, I will be happy to help answer you better.
0 votes Thank Flag Link Sun Jul 19, 2009
Suggest that you connect with a real estate agent who is familiar with new construction and is not affiliated with any builder. They will help get you the info that Bill mentioned as well as guide you through the process. It is in your best interest to have an independent agent/broker represented on the buy side
0 votes Thank Flag Link Sun Jul 19, 2009
There is an element that needs to be explored in today's market that was not a concers 3-4 year ago and that is the financial stability of the builder. The vast majority of builders are trying to remain solvent while have all ready departed some are trying to hand on and ride this market out.

Our recommendation is, regardless of the deal you are offered, do a thorough review on the companies financial stability. Don't get caught in the middle of a project with a partially built home, no builder to complete you work, and landing in the middle of someone elses litigation which could leave you in the cold.

Do your homework and get the facts.

Good luck
0 votes Thank Flag Link Sun Jul 19, 2009
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