Is this a good time to build?

Asked by d517, 85388 Wed Jun 8, 2011

I own a large lot (paid for) in Sonoran Ridge Estates, gated, in Waddell AZ right near the White Tank Mts off Olive Ave. I am now ready to retire, and naturally the market is still falling. I want to build my retirement home and would like some advice if I should go through with it. Right now I want too, it is the perfect time for me to retire, even though the market is bad. Do you feel it is worth while, and in the end the market will recover? I sure hope so. I intend to remain in this home for the rest of my life.

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Mike Lewis’ answer
Mike Lewis, Agent, San Diego, CA
Wed Jun 8, 2011
If it's the right time for you and this is your retirement home I think you already have a good idea what the answer is. Since there is a good chance many architects and construction companies are eager for business in this down economy you might be able to build this home at a great price for you. If it's worth while for you then you should do it. Only you can really answer this question. Good Luck.
1 vote
Scott Hulen, , 64068
Wed Jun 8, 2011
No one with any certainty can see into the future but in terms of enjoying a life of retirement that you have worked hard to achieve now is the time. When you build interview at least 3 builders, hire an ENERGY STAR homebuilder, the quality of the home will be very good due to energy star standards and 3rd party verifications, try to find a builder with a CAPS designation (certified aging in place) if this is your last home make sure it will be comfortable where you can age in place 20 years from now. Use a cost plus contract so you know you are getting what you pay for. (Your agent can guide you in this type of contract) build to the area in which you live don’t build a 500000 home in a 300000 area unless you are ok with the loss you will probably take. Good luck and enjoy the golden years Scott
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1 vote
Bill Eckler, Agent, Venice, FL
Wed Jun 8, 2011

Don't change your retirement plans but you should do an evaluation of the real estate market. There is a surplus of near new resale homes in most areas that represent huge savings. If you are still set on new construction...don't make a final decision until you have seriously considered resales.

Good luck,

1 vote
West Valley…, Agent, Surprise, AZ
Thu Nov 21, 2013
Right now the market is a a slow incline. Waddell Arizona is a great place to be... I would say at the cost of housing now would be a great time to build... Get the house you want for a little lower than in a good market
0 votes
I consulted an architect and builder and it will cost 650,000 to build. I can buy much cheaper for that. Why so much to build? Very frustrating.
Flag Thu Nov 21, 2013
Aurora Boyd, Agent, Waddell, AZ
Fri Jun 28, 2013
no better to buy resale properties less cost
0 votes
Aurora Boyd, Agent, Waddell, AZ
Fri Jun 28, 2013
the market is not going down market is now in recovering its going up 1% a week go for it
0 votes
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