Houston has started to see a considerable rise in new residents looking for homes, which means construction companies are working overtime to keep up with the demand. Luckily, there are already plenty of great homes that are sitting on the market for new buyers, but are these homes really right for you? If you have thought about the differences between new construction VS existing homes, you probably have quite a few questions. Let's answer as many as possible with this great article about what you need to know about new construction in Houston.
Homes in Houston: What Are They Like?
Many new builds and construction projects have started to come to fruition in Houston, which is perfect for anyone who is looking for a newly built home. Homes in the city are selling at great prices, and many people have considered living in Houston based on the fantastic homes that are available on the Houston real estate market.
There are currently over 10,000 existing homes available on the Houston market for sale, so you have plenty of additional chances to find one that suits your needs.
Which is a Better Fit For Me: Buying a New Build or Choosing an Existing Home?
If you’ve been thinking about a new home in Houston, but don't know which way to go when it comes to your purchase, have a look at this list of pros and cons:
Pros and Cons of Buying an Existing Home in Houston
Pro: The move-in time is much quicker
You will likely be able to move in within a few weeks over a few months. New construction can often take a while if they're starting from the ground up, and you’ll have to wait for quite a few inspections before you can legally live in the home.
Con: You'll have to choose from what's on the market
There are tons of great homes on the market right now in Houston, but you might be looking for something that is a little more suited to your personal needs. If you're looking for something specific, you might have to settle on something similar instead.
Pro: You'll be helping the environment
Many people have started choosing existing homes because they have a much smaller impact on the earth than a new build. Many construction companies have done a great job of keeping their carbon footprints small, but some people prefer a home built with supplies that have already been harvested.
Con: You might have to spend a bit on repairs
Older homes can often come with a long list of repairs that need to be made, and others require these upgrades in order for the house to be up to a livable code. While you might be saving a bit of money upfront, you could end up spending far more than you'd like before you can actually move in.
Pros and Cons of Buying a Newly Constructed Home in Houston
Pro: You can make it your own
One of the best parts about building them is having the ability to customize things to suit the needs of you and your family. If you’re going with a developer, you will likely have fewer options as they typically allow you to choose from a variety of floor plans, but this still allows you to pick the plan that works the best for you.
Con: They can cost more than an existing home
We talked earlier about how the prices could vary quite a bit, but typically, a new build or newly constructed home will usually cost more than an existing home. There are many different things that factor into the price, but the cost of construction and materials has risen quite a bit in the last few years, which has made newer builds cost higher than they typically have been but not by much. If you are looking for a smaller home, you can usually find a new construction home at a similar price to a larger existing home.
Pro: You can be close to amenities
Many of the areas with new construction in Houston have started to build stores, restaurants, and other amenities close to these new developments so that the residents can easily access everything they need. Buying an existing home could mean that you are stuck in an area that requires a short drive for your daily needs, which can become exhausting. Other developments have built things like community pools, fitness areas, and dog parks within their neighborhood, so you don't have to go far to have everything you need.
Con: You might be waiting a while
For those who are thinking about building your new home from an empty lot, you might be waiting a bit longer than you'd like. There were many issues during the pandemic that led to a decrease in building supplies, and some places still haven't recovered, so materials are in high demand. If you have the time to wait, then plan on waiting eight months to a year before you can move in.
What Types of Homes Are Available in Houston?
With so many major cities switching up their housing to focus on high rises and apartments, you might be wondering what types of homes are actually available in Houston. Fortunately, there are tons of different homes available for new buyers, including detached homes, townhouses, and even luxury-style homes that feature gorgeous yards. You have many different options when it comes to buying an existing home, and more are coming up on the market every day, so you won't have to wait too long to find your dream home.
What Kinds of Things Should I Look For in a New Home?
Buying a new home is an important decision, and you want to make sure you’re not settling for something that you might not enjoy in the future. You want to look for a home that can grow with you and a home that meets all of your needs. You need to look at what the neighborhood is like along with what kinds of things are nearby, and you need to make sure it's not too far away from places that you might need to be, such as a job, a medical center, or a school.
How Long is the Waiting Time For a New Home in Houston?
We already mentioned how closing on an existing home is often much quicker than building a new home, so let's compare the two and see how long each one typically takes:
New Build: Choosing to build your home means that you’re willing to wait a while before you are able to live there. If you are choosing to work with a developer, your new home could be built in as soon as eight months, but they typically take over a year to finalize. If you’re choosing to get your home custom-built, the process will likely take a bit longer, with the average being 18 to 24 months from design to move-in.
Existing Home: If you’re planning to buy an existing home in Houston, you won't have to wait very long to move in. The average sale takes about 30-60 days for all of the paperwork to be finalized, so you won't have to wait too long to get inside your new home. This option is much better for anyone who's choosing to move from out of state, as the timeline for a new construction home can end up wavering for many different reasons, and you don't want to be stuck renting for too long.
How Do I Know Which Option Will Work Best For Me?
When it comes to choosing one or the other, it all depends on your personal situation and what you prefer. Talking to a real estate agent is a great way to help with your final decision, and they can often help you figure out which direction to go. A local agent is the best way to go, and you will appreciate all of the valuable advice they’ll be able to provide you with.
Houston-Neighborhoods.com are highly knowledgeable real estate specialists committed to creating a memorable experience for every client. Buying and selling homes is their specialty and strive to make your house hunt or home selling enjoyable through every step of the transaction.
