Trying to decide whether you should build your dream home on Lake Greenwood or buy an existing home? There are pros and cons to both. Lots on Lake Greenwood are still priced attractively which shaves approximately $20,000-$50,000 off the total package price right from the start. A brand new home also offers the advantage of having exactly what you want with no repairs waiting.
On the other hand buying an existing home for sale for example in Crystal Bay or one of the many other existing lakefront communities in Greenwood will allow you to close, move in and see a quicker short term appreciation. "Fixer upper" people can reap the benefits of sweat equity; however a newer home usually offers little room for improvements. It is likely to sell for about the same price as others around it. Remember there are exceptions to every rule.
Here are a few more things to consider that can help you decide which works best for you when considering your next Greenwood SC real estate move.
Depending on where you look new houses may have somewhat smaller yards and may not offer the views of other established homes. Older homes were most likely built on the "premier lots". By working with a Lake Greenwood Realtor who is experienced in selling on Lake Greenwood you can be assured to be guided to the best lots currently available. Your choice of Realtor in Greenwood matters in more ways than one. Make sure to ask how much lakefront property they have sold personally as opposed the the company they work with. You want experience and knowledge.
Newer homes many times have somewhat smaller room size (unless you build a custom home) while the older homes generally offer larger rooms.
Buying early is a particular development can save you money as developers typically raise the prices as popularity grows. On the other hand there is always the uncertainty of how a development will progress in growth, fees, amenities etc. In a communities on Lake Greenwood sellers are having to compete with their own community developers if resale is in their future.
Ok, so I may not have helped answer your question as to whether buying or building is right for you but hopefully I gave you some good food for though to use in your decision making process.
Give The Bradshaw Group a call when you're ready to take the next step in your evaluation process. We promise to give you the unbiased information you need to help you make an well-informed decision on what is right for you individual circumstances.
