It is little secret that the Austin real estate market is on fire. Buyers from around the country continue to flock to the state capital. Whether relocating for work or retiring to Austin, buyers are flooding into the local real estate market. As a result, the Austin real estate market has experienced significantly low inventory levels. During the month of May, more than 200 homes were removed from the Austin market. Compared to inventory levels last year, that is a 30 percent increase in the number of homes that have been removed from the market. Such low inventory levels are now serving to drive custom homebuilding in Austin.
Due to the low inventory levels, it is now not uncommon for buyers in the Austin market to encounter multiple offers that can quickly drive up the final sales price of a property. Due to these market conditions, buyers may find that it takes longer to find and win a contract on a home. Additionally, buyers may also find that they are relegated to a limited supply of existing re-sale homes.
Such conditions are now driving many buyers to consider custom home building in Austin as a solution to their home buying needs. Buyers who have simply grown tired of fighting with other buyers over a small selection of homes have found that it is often more cost-effective to purchase land or a lot at a fair price and then build the home of their dreams on the property without the need to go through a frustrating bidding process.
Custom homes also offer a number of advantages over a re-sale home. For instance, while you may be stuck with the layout of an existing home or face the reality and expense of having to renovate the home to make it suitable to your lifestyle and needs, that is not the case with a custom home. In fact, with a custom home, it is possible to build a home that is much more livable and comfortable than any home currently available on the market.
With a custom home, it is possible to include a variety of custom features that you likely will not find in existing homes. For instance, if you have always dreamed of having a chef’s kitchen, it is entirely possible with a custom home. If you have toured existing homes, you may have noticed that the closets are too small, there is not an open-concept or it simply does not have the features that you would like. While it can be expensive to correct those problems in an existing property, especially when the sales price is driven up by multiple bids, a custom home can be surprisingly affordable.
You gain the ability to choose the features that you would like to include in your home. Along with working with an experienced architect to find the floor plan that will work for your needs and lifestyle, you are also able to choose from among such features as gas fireplaces, whirlpool baths, state-of-the-art home security systems, and gourmet kitchens. In addition, you can take advantage of eco-friendly features that can be incorporated into your new home to make it more energy efficient. In fact, a newly built home is actually twice as energy efficient as many of the homes you will find on the market that were built two decades ago.
If you have decided to purchase a custom built home, it is imperative to ensure that you choose the right custom homebuilder in Central Texas with whom to work. The quality of the builder you select will make a significant difference to the final outcome of your home.
First, it is important to ensure that you choose a homebuilder with a tremendous amount of experience in building custom homes in the local area. Take the time to find out how long the builder has been in business. Ask to see a portfolio of the properties they have recently completed. This will give you a good idea regarding the level of quality you can expect for your home.
Additionally, you should ensure that the builder offers the services of an actual architect who will be able to work with you on completing the design of your home. Unfortunately, many so-called custom homebuilders only provide existing home designs from which home buyers can choose. This is not a true custom home. When building a custom home you should be able to decide on everything related to your home from the design to the finishes that are used in the home.
Taking the time carefully select an experienced custom homebuilder in Austin can help you to obtain the home of your dreams while avoiding the time-consuming, expensive, and frustrating bidding process of buying an existing home in the current market.