Let’s say you have the money and the resources to build a new piece of Weston real estate. Within a few months, it is completed. Is it happily ever after? The answer is no because there will be a few other challenges ahead.
When you have built your home, one thing you must deal with is the property taxes and this could be well over $10,000, depending on where you live. Take note that this does not yet include mortgage expenses if you have not paid yet for the house in full. The only consolation is that you pay for this on a fixed term. While most home values go up after many years, in some cases, like during the financial crisis, its value could go down. An analyst once said that the average home value has only kept up with inflation over the last few decades. In other words, you don’t really gain that much.
If you are employed and you are told that you should relocate, it will be hard to move right away since it takes time to sell a house. Should there be any problems with the house, you don’t call your landlord since there isn’t one. You will have to find a specialist to figure out what is wrong in order to fix it.
But these things should not deter you from considering building your own home even during a time when home building is on the decline. Why? Because building a home is an investment unlike rent where you pay a fixed amount per month and this could up the following year. What is even better is that you live in a dwelling according to your specifications. If you don’t like it or you want to add something, you can make changes and no one will oppose your decision, besides maybe a homeowner’s association. Doh! If you signed a warranty with your contractor, any problems will be taken care of by him or her without any additional charges. Since your house is new, it is more energy efficient compared to older homes, thanks to new technology and you are compliant with new environmental regulations.
A decline in home building has not stopped other people from having their own Weston luxury homes constructed. In fact, most people you ask will probably tell you that they prefer to live in their own home rather than paying rent. With that, you have a land title under your own name and no one can take that away from you unless you decide to sell and move somewhere else.
You will also get tax cuts which will never happen if you are renting. You will be happy about this when it is time once again to pay your income tax for both federal and state, as these are usually fully deductible.
There is no better time to own a home or face its challenges than during a decline in home building because both labor and materials are cheap. If you have the money to pay for a home for sale in Weston, you shouldn’t have a problem paying for taxes and mortgage.
About Berkshire Hathaway HomeServices Florida Realty:
Berkshire Hathaway HomeServices Florida Realty serves 18 counties throughout Florida with over 40 locations and approximately 1,800 Sales Professionals. The full-service brokerage company, founded in 1999, is a subsidiary of Lennar Corporation, a Fortune 500 company and is a franchise member of the Berkshire Hathaway HomeServices’ network, one of the few organizations entrusted to use the world-renowned Berkshire Hathaway name. The company offers residential and commercial services as well as seasonal rentals, property management, REO & Foreclosures, corporate relocations, referral services, title, home service plans, and personal concierge services. Berkshire Hathaway HomeServices Florida Realty ranks in the Top 10 in the network among 43,500 Sales Professionals, 1,300 offices throughout 47 states. The company is the overall No. 1 fundraiser for The Sunshine Kids Foundation, having generated more than $3.37 million since 2001. Visit www.BHHSFloridaRealty.com.
