Is it Cheaper to Rehab or Build New?

Many buyers are wondering if it’s cheaper to buy a fixer-upper or build a new home from scratch. If you’re in this boat too, here are some things to consider:

-If you can find a home with good bones for a good price, a fixer-upper might be just the thing for you. However, material and contractor costs are high right now, so rehabbing a house can take more cash than it used to.

-Building right now requires patience on top of cash. Because supply lines are still reduced and labor costs are rising, you have to account for extra costs and extra time needed to build, which bumps the average price of building to around $332,000. That said, building new can save you in maintenance costs since everything is new.

The best option for you depends on your location and your real estate goals. Give us a call, we are here to help! Chris 480-754-9077 & Cheryl 480-754-9477