About 8 years ago I was touring an older home in Minnetonka on a large lot and I questioned the Realtor on the high price point. His response was that the home was large enough to separate and there was a second lot behind it. The value he had placed on the second lot was extremely high. He mentioned that he is also an appraiser and he went back several years to find the last sold lot in Minnetonka (that would have put those sales in a time period before the Great Recession). I explained that the neighborhood did not have any lot sales at the time but there were several tear downs nearby. He responded that according to the appraiser's guide, you have to adjust $40,000 for the cost to tear down a home. Since then I have torn down two homes and I'm not…
Found 8 blog entries for November 2017.
You have decided on your builder, location and floor plan and now you are starting to make your selections. When it comes to lighting there are endless choices, but there is a lot to consider especially if you are trying to stay within a budget.
When making your selections, your builder will inform you as to an amount that is included in your home pricing for a lighting allowance. It may seem like a generous amount, but it will be depleted pretty quickly. Exceeding that allowance will increase the final price of your home. You will need to choose fixtures for both indoors and out.
Do you have a decorating style you have chosen for your home? This is a good place to start. Whether it is modern, traditional or industrial just to name a few, there are…
No. But you will want to have a Realtor to help you with the process. Not all lots are listed on the MLS so it is very helpful to have a Realtor and the Realtors on the New Homes of MN Team have a relationships with a local developers and builders.
Along with your Realtor a good builder has the resources to help find the perfect building site. Location Location Location are the 3 key words in selecting your lot. What type of basement do you want? Walkout, lookout or full basement. Do you want sun exposure at the front of your home or the back of your home? How much tree coverage do you want? Do you want to be in the city or out away? You will need to know the answers to these questions before selecting your lot. No worries! A member of the New Homes of…
When hosting open houses in model home across the Twin Cities, a frequently asked question was, “Can you build a home in the Winter?” Not only can you build a home in the winter, but you SHOULD! Here’s why…
Timing is everything when purchasing and building a new home. Another common question is, “How long does it take to build?” Taking a common rambler or two-story home as an example, it’s very common for the physical construction of a new home to take about 3 ½ months. Add to that an average of 6 weeks of design time prior to beginning the physical construction you land at about 5 months to complete the process.
Now comes the “why”. The bulk of the homes constructed in our Twin Cities market are done so by National Builders who are…
A lot of folks think that you don't need a real estate agent if you are buying a New Construction home. That's not true! Below are 3 of the top reasons to work with a BHG Agent when buying or building a new construction home:
1. We are new construction experts! We are able to help you compare all options including looking at existing homes, move-in ready new construction homes, or to-be-built options. We have the capability to show you all of your options, so you can be well informed before making your big decision.
2. We have knowledge about different neighborhoods and locations. We can work with you to make sure you know about all the new neighborhoods that are available to you before you select your home or build site. It can be…
One important consideration for many people when looking at homes is, "Can we build a fence?" I have a dog and I'm not confident that she will know how to stay safely in the yard without a fence. Also, I like having a fence for privacy. If either of those issues, or something else altogether, causes you to prioritize a fence on your property, be sure to consider the following:
- If you're looking for a new construction property, you should keep in mind that builders don't tend to offer fences. As you go look at models and schedule showings with your real estate agent, you'll notice the scarcity of fences in new construction neighborhoods.
- So, if a fence is important to you, make sure that building a fence after your purchase is allowed. Many
When building a new home, have you ever thought about adding a hidden room? Recently at the Parade of Homes in the Minneapolis area, our team toured a home with a hidden room. This room was staged as a children's play area. Buyers have a variety of reasons to select this unique option for their new home.
Besides playrooms, homeowners look for security and safety, and for some, a "cool" factor. However, they come with a cost. The cheapest option might be a bookcase doubling as a door. You should budget about $900 for this, with installation extra. Other choices include swinging fireplaces that rotate to reveal a hidden room, fake stone walls, and pool cue racks. These options could be $3,000 - $12,000.
Whatever you choose, be sure you work with a…
So, you have found a builder and floor plan that you like, but the home site is located in a brand new neighborhood with no sales yet. Should that deter you from buying? Many people worry about being one of the first sales in a neighborhood. Let me break down why that can be a good thing and some of the risks.
- Choice of home site: If you are one of the first to purchase in a neighborhood, you likely will get more options for home sites and may be able to get the exact site you want.
- Pricing: Often times, the first couple of sales in a new community will get a lower price. This can vary obviously, but the builder will want to get some sales and this can work to your advantage.
- Incentives: Many builders will offer incentives such