Buying vs. Building – Roers Real Estate

Buying a home is a big step and can be overwhelming, whether you are a first-time homeowner or have gone through the process before. Roers Real Estate is here to help you with the purchase process. There are two options when it comes to choosing your home. You can search what it currently on the market, or you can look into the option of building a home custom for you. What steps should you take when purchasing a home? Is building or buying a better option for you?

We met with our Roers Real Estate agent, Anne Kallhoff, to ask her some questions to help you.

In general, what are the benefits of buying a home?

When you buy a home, your money is going toward equity in your home. When you rent, the money you are putting toward your rent each month, isn’t money you will ever get back. When you are paying toward a mortgage, you are building equity in your home and you will usually see a return when it comes time to sell your home. When you own a house, you also have the ability to make any changes you want (paint, flooring, remodeling, etc), and you can have pets if you choose without penalty.

What is the first step a person should take when they are thinking of buying a home?

I always tell my clients to meet with a lender in person or over the phone to get an idea of how much they can afford. This will help so they aren’t looking at homes out of their budget and will ensure they don’t miss out on features they could have that are within reach with their budget.

What are the benefits of building vs buying a home?

When building, you’ll see the same benefits as purchasing a house already listed on the market. In the building process, homes can be fully customized, you can choose finishes you want throughout your entire home and find or design a layout that works well for you. If you purchase one that is already on the market there are other benefits such as being in established neighborhoods, lower specials and character homes.

As far as price, is there a difference between building and buying?

The costs with building and buying can vary. One of the biggest benefits of buying is a tax abatement provided by the local cities. Depending on the builder you work with, the lending process can be quite different.  A construction loan has to be taken out by someone when building a home. Most of the time, the builder does this and you only have to take out a standard mortgage loan, but occasionally the builder will require you to take out the construction loan. When purchasing an existing home, you typically have to take out a standard mortgage loan. The specials can tend to be higher with new construction.

What is the average time to close when buying or building?

When you buy an existing home, you can typically close within 30 days pending appraisal and inspection. With new construction, you are looking at anywhere from 90 days to a year, depending on the builder and the level of customization.

Who can new homeowners contact to go through options?

A realtor and/or lender are the best people to contact first to start the home buying process. A lender can tell you how much you are pre-approved for, and a buyer’s agent is there to assist you, the buyer, with any questions regarding finding the right fit for your next home. 

We hope this information helps! Roers, Real Estate agent Anne Kallhoff is here for you with any questions.

Happy house hunting!

Visit our real estate page here!

 

Anne Kallhoff
Roers Real Estate Services LLC
701-866-4425
akalhoff@roers.com

 

Jeremiah Program

Fargo, ND — Jeremiah Program broke ground on its new Fargo-Moorhead campus in early June. The new campus, located at 3104 Fiechtner Drive South in Fargo, will provide safe and affordable housing for 20 determined, low-income families, as well as an on-site early childhood education center, classrooms where the mothers can build confidence and life skills, and spaces where they can meet with coaches to support them in achieving a career-track, college education.

“We have worked hard together to get to this day,” said Diane Solinger, Jeremiah Program Fargo-Moorhead Executive Director. “Many of our community board of trustees and supporters have been with us since the very beginning, even though the peaks and valleys. They have given us unwavering commitment, and together we are building a campus to bring this excitement to life.”

Why is this campus and Jeremiah important to Fargo-Moorhead? Currently, more than 2,300 single mothers are living in poverty in the Fargo-Moorhead area, a number that has increased 16 percent over the last six years. The majority of these mothers have children under the age of four with fewer than half of them enrolled in pre-school…

To read the full article click here! 

For full project details look here!

MacKenzie River Pizza Breaks Ground

WEST FARGO — MacKenzie River Pizza has broken ground at 819 24th Ave. E. in West Fargo for its second restaurant in North Dakota.

Glacier Restaurant Group out of Whitefish, Mont., operates MacKenzie River Pizza, which also has a location in Bismarck. This will be the fourth location for franchisees Lance and Shoni Robinson.

“Shoni and I are thrilled to be opening a MacKenzie River here and know the community will love our scratch recipes and the fresh ingredients we use for our gourmet pizzas, juicy burgers, fish tacos and other offerings,” Lance Robinson said in a news release. “We are also excited about our beverage offerings including specialty cocktails, craft beers and our exclusive Driftboat Amber Ale, brewed by Great Northern Brewing Company out of Whitefish, Montana.”

The restaurant is set to open in the third quarter of 2018 and is expected to employ 80 to 90 workers.

Current MacKenzie River locations feature a casual rustic atmosphere with refurbished and felled lumber furnishings, antique outdoor sportsman finishes and photographs of the Rocky Mountains.

For the full article you can read it here!

For Information on the full project, you can find it here!