When it comes time to make the move to a new home, the possibilities seem endless.
Condos. Townhomes. Houses. Maybe building a new home?
Choosing which works is hard, right?
Utah is growing fast, and when it comes to making a decision like this, it is important to go through the pros and cons of each type of home.
So here’s the deal:
We’ve compiled a list that can help you get started on the journey to finding the perfect home.
Low maintenance levels: Condos don’t come with a yard, so there is no upkeep when it comes to landscaping. A community association typically takes care of all landscaping, as well as most interior and exterior maintenance.
Cheaper: A condo provides likely the cheapest option when it comes to purchasing a new home. Owners won’t be purchasing land, so costs are lower.
Community feel: Close proximity of condos within a complex gives this housing option a unique sense of community. Living only a few short steps from the neighbors allows homeowners to be more social and involved with community members.
Dues: While costs are low with the purchase of a condo, community dues will most likely be due monthly, increasing the cost of monthly expenses.
Less privacy: Closer quarters means more noise and more people in the same area. Living adjacent to neighbors provides less privacy than in a conventional home.
Size: Condos are smaller than a home, so if growing in size as a family is a desire, owners will be limited.
Ownership of land: Townhomes in Utah provide the community sense and cheap cost like condos, but owners will also generally own the plot of land the townhome sits on. This is an attractive plus for many prospective buyers, especially those with families or pets.
Yard: Some new homeowners will want to have a front and back yard, most townhomes provide this option, unlike condos or apartments.
Exterior maintenance and yard work: While it is an attractive pro, having a yard comes with the associated yard work. Be prepared to mow a lawn and take care of exterior maintenance.
Harder to sell: Townhomes are generally easy to find, but hard to sell. Take this into account when thinking about the future.
Cost: Purchasing from the existing housing market will be more expensive than a condo or town home, but it will be cheaper initially than building a new home.
Convenience: When it comes to purchasing a home, buying an existing house is the most convenient way to go. Prospective buyers work with a realtor who helps them find different housing options.
Status: Becoming a homeowner provides a feeling of accomplishment and satisfaction that doesn’t come with a condo or townhome. Being part of the club of homeowners is important to many buyers, and buying a home provides this status.
Resale value: Most existing homes are generally older, thus providing a lower resale value than a brand-new home. If moving in the future is a possibility, take this into account.
Maintenance: Homeowners will need to handle all interior and exterior maintenance and upkeep. This means that all responsibility for things like a yard, lights, carpet, paint, and damages will fall squarely on the owner.
Control: New homes in Utah county are popping up every day, and for good reason:
Choosing to build a home gives the owner control over everything. Details are important, and having a say in the layout, floors, colors, plan and features of a home makes building an attractive option.
High resale value: Building a new home means that should the owner decide to sell, the house will be more attractive because it is newer. Modern features and energy-efficient windows and doors drive the resale value up, thus increasing the ability for owners to recoup building costs.
Emotional connection: This housing option allows prospective buyers to be involved from start to finish, giving the owner and builder a sense of satisfaction, completion and emotional connection. This connection allows the owner to feel that the house is their home.
Higher cost: While the owner gets exactly what they want with a new home, building a home from start to finish can increase the cost.
Time frame: New homes take time to build; choosing this option presents a longer time frame than purchasing an existing home.
In the end, it is up to the buyer to decide what is important in a home. If you think building a home in Utah is a fit for you, check out our model homes. We have a variety of award-winning home designs and quick move-in options available. Let us help you get started today.
We’re here to answer any question or concern you may have. Our process is an open book and we’re happy to share it with you. Click here to talk to a McArthur representative and ask away!