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Buy A New Home or Existing Home? Debunking Common New Home Construction Beliefs

When it comes to buying a house, the million dollar question is: Do you buy a new home or existing home?

Home buyers can be hesitant to build a new home over buying a home that’s being resold. However, this typically stems from fear of the unknown. Essentially, home buyers haven’t been equipped with all the facts when it comes to new home construction.

So we’re debunking popular common held beliefs when it comes to building a home vs. buying older real estate, so you can feel educated when making the right decision for you and your family.

THE ASSUMPTION THAT NEW CONSTRUCTION HOMES WILL EXCEED YOUR BUDGET
The main factor driving a home buyer’s choice between new home construction and an existing home is price point. Home buyers automatically assume that building a new home will exceed their budget.

However, there are a few contingencies that the home buyer should take into consideration:

  • Home Buyer Incentives: Unlike buying an existing home, home builders often offer lucrative incentives to help the home buyer up front. Incentives can include closing costs, upgrades, free appliances or other attractive offers that make the home more affordable and/or comfortable long-term.
  • Less Repair Costs: When home buyers build a new home, they are investing in the ease of a turnkey home, which often comes with fewer unexpected repairs than buyers of existing homes.
    • According to Zillow’s 2019 Consumer Housing Trends Report, more than 8 in 10 (83%) of existing home buyers say they repaired or renovated their homes within the first year of ownership.
    • More than half (54%) had to make a major repair or renovation within the first month of getting the keys.
    • Compared to new construction buyers: 48% of buyers who purchased a brand-new home in the past two years still haven’t had to make a single repair or renovation.

TIMING & HASSLE TO BUILD A HOME:
Home buyers think that buying a new home means the hassle of choosing a lot, picking designs and features and waiting for the home to be built. Although those reasons are why a lot of home buyers choose to build a new home, others need a more immediate solution for their family. Therefore, they think their only option is existing homes.

The reality is that more than half of a home builder’s inventory is quick, move-in ready homes. Meaning, these home are already built yet brand new and waiting for their forever family. The beauty of buying a quick, move-in ready home is that you get the newness of a home with the move-in timeline of an existing home. It’s a win/win!

To view our available quick, move-in homes, click here.

CONCERN ABOUT QUALITY OF CONSTRUCTION OR MATERIALS

According to Zillow, 26% of buyers who didn’t follow through with a new construction home had concerns about the quality of construction or building materials.

Over time, residential building codes and materials have significantly improved to ensure top-notch safety, design and construction of a new home.

Existing single-family homes, town homes and other real estate were likely built 10, 20, 30+ years prior to a home buyer purchase. Although the home likely sustained numerous updates throughout the aging of the home, in addition to quality inspections before closing on the home; a home buyer really never knows the state of an older home they are inheriting

HOME BUYERS THINK THAT SOME COSTS AND UPGRADES FOR NEW HOME CONSTRUCTION WEREN’T TRANSPARENT UNTIL THEY PURCHASED THE HOME

To be exact, 26% of home buyers who bought a new home in 2019 say that they did not understand the full breakdown of costs prior to building a new home.

We are unsure of the home cost transparency that’s afforded by other home builders; however we pride ourselves on handling the home buying process as if it were us buying the home.  Our New Home Sales Consultants provide price sheets and itemized personalization costs, as well as set clear expectations for the home buyer during model and showcase home walk-throughs. Costs and fees pertaining to lots, upgrades and everything in between, in addition to when each installment is due throughout the process is communicated from the beginning.

HOME BUYERS BELIEVE THAT THEY CAN’T GET THE SAME “CHARM” THAT COMES WITH AN OLDER STYLE HOME

The good news is with a new home build, you get to make your new home what you want! With a variety of floor plans, exterior colors and features, design selections, unique upgrades and more, you get to personalize each part of your home. The uniqueness you infuse into your new construction home will give it the exact “charm” you were envisioning.

Additionally, although your new home may not have the same look as an aged home, the communities we build in are mature and preserve a beautiful and homey feel.

HOME BUYERS FEEL THEY MAY BE OVERWHELMED BY THE UNKNOWN OF THE HOME BUILDING PROCESS

With any home builder, the New Home Specialist should create a road map for the home buyer that includes the following to help create transparency and trust and set expectations up front.

Home Building Process

  • Expected timeline
  • Cost breakdown
  • Design Studio Selections
  • Warranties
  • Home Owner Walk-Throughs and Orientation
  • Estimated Closing
  • …and everything in between.

In general, the home building process looks a lot like the below:

  1. Get a pre approval letter. Special incentives offered by using our preferred lender, Vision Lending.
  2. Pick a neighborhood
  3. Pick a floor plan, pick your structural options
  4. Pick from our available lots
  5. Sign the contract. We can conveniently send you our contract via email so you can sign from anywhere in the world.
  6. Pay builder deposit. We can also email you an invoice for your builder deposit to pay online. The builder deposit amount will vary depending on the sales price amount.
  7. Attend your design appointment within 2 weeks of signing your contract. We can also do a video call so you can design your home remotely. We can also email you an invoice if you want to add any additional items.
  8. Meet with the builder 4 times throughout your home build process.
  9. Sign your closing documents at the attorney’s office. Congratulations on your New Home purchase!
  10. Transfer utilities in your name
  11. Register with your neighborhood HOA for access to amenities
  12. Warranty will follow up. Our warranty team will be there for you with your 1 year builder warranty.

Throughout the home buying process, the home buyer should also have constant communication with either their New Home Specialist or their builder so they know where their home build stands at any given moment.

HOME BUYERS THINK THAT THE LOANS, SPECIFICALLY FOR NEW CONSTRUCTION, WILL BE A HASSLE OR CONFUSING

We offer our home buyers our preferred lender, Vision Lending. Our Vision Lending loan officers, Chung and Jason, will handle your mortgage pre-approval that will give you a realistic idea of your down payment and budget, and give you more negotiating power when you make an offer.

Our home buyers have a peace of mind through the process as our preferred lender goes above and beyond to hold their hands every step of the way.

So what do you think, should you buy a new home or existing home?

If you’re in the market for a new home and are trying to decide whether buying a new home or an existing home is right for you, we’d love to have a conversation with you. We’ll be happy to answer any questions about the home buying and home building process, so you feel like you have full clarity when it comes time to make an offer – on new home construction or older real estate.

Feel free to fill out the form below and one of our friendly and knowledgeable Online Home Specialists will be in touch with you shortly.

 

Our home buyers become family … thank you to all of our home owners for choosing McKee Homes!

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‘Before and After’ of Building A Home in 82 Days

We’ve all seen the ‘before and after’ of building a home on Instagram or HGTV, but do you ever wonder what happens on a daily basis to make a home buyer’s dream house a reality? If so, you’re in luck.

We’re giving you real, behind-the-scenes footage of building our brand-new model home in Mid South Club, a beautiful, gated, golf course community nestled in the charming town of Southern Pines, NC. From laying the foundation to final photography, you’re about to witness a specially-designed Winston Craftsman floor plan come to life in just 82 days (a pretty big feat for any home builder!).

Israel Demus, head builder for the Southern Pines region, oversaw this project from start to finish. Although his original goal for this new home construction was 77 days, all new home build’s run the risk of falling behind schedule due to unforeseen hiccups, like weather, issues with sub-contractors or delayed permits. One of the most important aspects of keeping a home build on track is managing the trade partners in the field. Each step of the home-building process is crucial, and if one piece of the puzzle is missing, it can derail the entire timeline. Luckily for us, our trade partners made this goal attainable (thanks to you all!).

“This was an extremely exciting opportunity presented to me to show our trade partners we appreciate all of their daily efforts. The trades were excited about this project as much as the rest of the McKee team. In the end, we have this greatly built home that we can reflect on of all our efforts.” – Israel Demus, Head Builder

ABOUT MID SOUTH CLUB: SOUTHERN PINES, NC
The private, gated community of Mid South Club in Southern Pines, NC, near Pinehurst, is a gorgeous, upscale neighborhood that meets the wants and needs of those looking for all the amenities of resort-style country club living. You’ll enjoy a newly remodeled clubhouse, pool, tennis courts, driving range, golf course, walking trails and 24-7 security. Each home features a designer kitchen with large chef-like island and eating bar, granite countertops, exquisite tiered cabinets and crown molding and state-of-the-art stainless steel appliances. As Pinehurst is a golf mecca in North Carolina, golf fanatics will get one of the best golf courses in the area at Mid South Club.

If you decided Mid South Club was the perfect living location for you and your family, you’d have a variety of floor plans in the Mid South Club – Palmer’s Preserve neighborhood to choose from, including:

The Clark (Craftsman and European):

The Beaufort (Craftsman and European):

The Brooks (Craftsman and European):

The Biltmore II (Craftsman and European):

The Winston (Craftsman and European):

If you’re looking for more low-maintenance living, feel free to explore our Eagle Point neighborhood within Mid South Club. This community features homes from our EPCON portfolio of floor plans specially designed on a one-story foundation, in which you’ll glide through wider interior doorways, relax on a country club style private courtyard and never worry about stairs from the outside.

Have questions about the ‘before and after’ of building a home or the home buying process in general? Fill out the form below and one of our New Home specialists will be in touch shortly!

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How McKee Homes Gives Back to North Carolina Communities

McKee Homes gives back to various charities throughout NC, including the Walk to End Alzheimer’s, Kids Peace Foster Care Agency, Fayetteville Urban Ministry and Cape Fear Guardian Ad Litem Association, among others. The company is truly known in the industry for its passion to not only build homes but build communities, too.

As part of our dedication to the community, McKee Homes also provides a yearly stipend to each employee to support a cause of their choice. Today, we are highlighting a few committed employees who are making an impact in their very own community, with the financial support of McKee Homes.

We thank our employees for all they do to better the communities around us.

MARK HILL: Builder (President of Parkton Youth Association)

NON-PROFIT/CAUSE:

Parkton Youth Association , a non-profit dedicated to giving children a safe place to have fun and play sports.

WHO DO YOU SERVE AND WHAT DOES THE MONEY GO TOWARDS?

“The activities that we offer build character, friendship and team building—memories they will take throughout their life. Again, thank you Pat and Julie for continuing to make a child’s activity a lifetime event. God bless McKee Homes.

Because of this organization, our 1 through 4th grade cheerleaders just placed first place in the Southeast Region Cheerleading Competition. These kids are truly amazing.”

SHANE MCCLEOD: Area Construction Manager, Southern Pines & Fayetteville, NC

NON-PROFIT/CAUSE:

Carolina Freedom Baseball, an organization based in Fuquay-Varina, NC. The goal of this non-profit is to teach the game properly so that each player will develop the skills and ability to play baseball at a high level. Additionally, the hope is to aid the players in developing a strong foundation in baseball, work ethic, and teamwork that will not only serve them well on the field, but also in life.

WHO DO YOU SERVE AND WHAT DOES THE MONEY GO TOWARDS?

We serve 12 & under boys and were able to outfit the entire team with new helmets.

The idea of this non-profit is to use baseball as a way of teaching young men about life. Baseball is a game of failure and life is too sometimes. We teach them about hard work and how you keep getting up and trying.

I have a son on each team, so this was a cool moment.”

RACHEL MCMORROW: Marketing Coordinator

NON-PROFIT/CAUSE:

The Apex Fun Run for Johnston Charter Academy in Clayton, NC

WHO DO THEY SERVE AND WHAT DID THE MONEY GO TOWARDS?

The Apex Fun Run was a fundraising event to support Johnston Charter Academy. The event encourages children to raise money for a good cause and help them understand the meaning of supporting their school, teachers and fellow classmates.

The organization’s mission:

To collaborate with school PTO/As and faculty to build student leaders through a meaningful, “hassle-free” and financially successful school fun run.

We Believe

  • Every child can change their school, and the world, in a profound way
  • Serving others brings the greatest joy and contributes to the greatest good
  • Learning by doing and exercise are both undervalued and underutilized in fundraising today
  • Encouragement and enthusiasm build others up—we will help build leaders
  • Raising money for your child’s school can also serve as a positive learning experience
  • Many people giving a little reduces the individual burden on the typical givers and donors

DIANA DELPONTE: New Homes Sales Consultant, Wilmington NC

NON-PROFIT/CAUSE:

Coastal Horizons Center, an organization that advocates for healthier lives and safer communities by providing a continuum of quality, professional services for prevention, crisis intervention, sexual assault victims, criminal justice alternatives, mental health and substance use disorder treatment services.

WHO DO YOU SERVE AND WHAT DOES THE MONEY GO TOWARDS?

“The money helps support the annual event, Coastal Duck Derby, which benefits the Open House Youth Shelter & Crisis Intervention Services of Coastal Horizons Center, a 501(c)(3) charity. In addition to meeting the basic needs for food, clothing, and shelter, Open House encourages youths’ personal growth through counseling services, vocational/educational, and life skill building.”

MORE INFO ON HOW MCKEE HOMES’ SUPPORTS THEIR CORE CHARITIES

WALK TO END ALZHEIMER’S – EASTERN NC

McKee Homes is the Platinum Sponsor for each Walk to End Alzheimer’s in the Fayetteville, Raleigh and Wilmington areas, and the Presenting Sponsor for the Moore County Walk.

KIDS PEACE FOSTER CARE AGENCY

McKee Homes is the Love Sponsor for the Kids Peace Annual Chair-i-table Auction, an event that raises money to support hundreds of children in foster care in the Greater Cumberland County and surrounding areas.

FAYETTEVILLE URBAN MINISTRY

McKee Homes supports the Fayetteville Urban Ministry through their annual Duck Derby, Boss Toss Challenge, food drives, and special projects.

CAPE FEAR GUARDIAN AD LITEM ASSOCIATION

McKee Homes supports the Cape Fear Guardian Ad Litem Association, which helps abused, neglected, and dependent children in the state court system find safe, forever homes.

 

Are you interested in supporting these causes and/or communities throughout North Carolina, too? We would love to partner with you to give back. Please reach out via the form below to get involved.