Building a HiLine Home vs. Buying Existing
Posted by HiLine Hal
October 27, 2015
You’ve decided you need a new home. Perhaps your family is growing and you need more space, or maybe you’re tired of renting and you want your monthly payment to go towards ownership. Whatever your reason may be, you now have a choice to make. Do you buy an existing home, or do you build?
Traditionally, the first move most people make is to look at existing houses listed on the real estate market. After all, that’s the quickest, easiest solution. However, with a low housing inventory, what is a family to do? You can search and search, but may never, for various reasons, find a suitable home. Many families will then take a look into building a new home that will fit their needs. That is when they turn to HiLine Homes.
There are many reasons why building a new home is favorable, such as the fact that everything is new and up-to-date, it is under warranty, design choices can be made, and so on. There is one reason, however, that trumps them all: financial security.
When you buy an existing home, you pay market price. It just so happens that your house will also appraise for that same amount. Your house’s value equals your cost. If you financed your home and you didn’t have a 20% cash down payment, you will now be paying mortgage insurance on top of your monthly payment.
Now let’s contrast that scenario with a typical HiLine Homes build. Our homebuilding program is designed to build affordable homes that will be worth more than what it cost our homeowners to build. Keeping costs down and still maintaining a favorable appraisal value equals instant equity in your home. Your home’s value is more than what you had to pay for it. That is something your typical existing house simply cannot offer.
Make the smart move and take advantage of this opportunity. Contact your local HiLine Homes office to discuss the impact that building your new home can have on your financial future.