Kaufman Homes receives a lot of inquiries saying they would like to consider building a new home or remodel an existing home, and how much would that cost? Most people are in the fact finding stage when we get this call as they have been assessing their needs like: “we need more space”, “our current home is outdated” or “It would be nice to have”.

Fact finding questions we ask:

1. How did you find out about Kaufman Homes?
2. Have you sold your existing home in this area?
3. Do you have a home to sell and how much do you think it is worth? Have you contacted a realtor for an appraisal? Is this same realtor able and willing to help you evaluate your situation?
4. Have you been out looking at homes and have you found any you like? If so what would need to be done to this home to meet your needs and expectations?
5. Do you own a lot to build on?
6. Do you like the current area you live in and does the home meet most of your needs?
7. Have you thought about remodeling your existing home to meet your needs i.e.: re-decorating, rearranging portions of the home and or adding on. How would you pay for you re-do, equity loan, refinancing or personal cash?
8. Have you been to a bank and qualified for a new home loan, remodel of existing or purchasing and remodeling an existing home? Be sure and find out their terms and requirements? A trusted banker can also give you good financial advice considering what you want or would like to do. Bankers are now very cautious and conservative and will not let you do something you cannot afford or is not good for the long term.

Misconceptions About Cost and Economy

Because of this economy I sense there are misconceptions about new building costs being related to or near in line with the cost of buying an existing home. Prices of existing homes have substantially decreased in relation to the abundance of homes for sale and the amount of people able to qualify for purchase. It is a buyer’s market for those who can qualify for a loan, ones who have sold their home or don’t need to sell their home and have substantial money to put down or will pay all cash. Even those who would desire a new home find banks doing appraisals that are substantially less than what it costs to build the desired new home.