The hard costs of purchasing a new home in today’s market can be daunting: increased building material costs, rising loan rates, and the cost of renovations to get your current home ready to sell are just a few examples. These concerns can cause potential home buyers like you to step away from the market and wait for a more opportune time.
What some home buyers may be overlooking, however, are the soft costs of waiting to purchase a home. These include things like safety, health, security, comfort, peace of mind, and time. While waiting for better market conditions may seem like the safe option, it can cause you to pay more in the end and get less in return.
Hard Costs of Waiting
There are legitimate reasons to wait to purchase a new home, especially if it helps you secure better financing. However, deciding to sit on your decision and wait for a better time also has its costs. For example, if you are considering downsizing your home in the summer but wait until the following spring to put those plans into action, you’re taking on the cost of maintaining your current home through another Iowa winter. This can include the cost of snow removal services, regular maintenance, and even unexpected repairs to vital systems like heating or plumbing. Those costs add up, especially if you also need to do some remodeling to make your home more marketable.
Soft Costs of Waiting
It’s also important to consider the soft costs of waiting to buy a new house. You won’t be able to get back the time you spend sitting on this decision—time that you could be spending in a new home you truly love. More specific soft costs might include
Safety
If your current house needs repairs that you’re unwilling to make, or if it has multiple floors that are getting harder to navigate, waiting may put you or your family members at risk of injury.
Health
If your neighborhood is not very walkable or your home doesn’t provide enough opportunities for exercise, it can make it hard to live a healthy lifestyle.
Peace of Mind
Waiting to make a decision can provoke anxiety in many people. Anxiety is not just uncomfortable; it affects thinking and can make it even harder to choose the right path for you and your family.
The Solution? Build Your Home
While it doesn’t solve all your problems, choosing to build your home instead of purchasing an existing one can save you those soft costs while alleviating some of the financial concerns. The equity in your current home, choosing the right home builder, and low mortgage rates can save you in monthly costs.
Building a home in an active adult community like Epcon can also help you solve those soft concerns. True to the name, active adult communities strive to meet residents where they are, whether that is in or out of the workforce. A 24/7 clubhouse houses a fitness center to keep your health a priority, but it also hosts a full social calendar to help you make new friends and engage your mind. Low-maintenance living means you have more time to learn a new hobby or host family and friends in your beautiful private courtyard.
Each Epcon home features a single-level floorplan to keep you safe and give you peace of mind. It can also be personalized to your style and taste so it is truly move-in ready. You’ll also have the latest new home technology and energy and cost savings.
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