Building a Brand New House – A Timeline
Houses listed in the Denver area resale real estate market have been selling for 15 percent above asking, and it’s not been not unusual to see people bidding 20 and 25 percent over. According to a recent article in the Denver Post, realtors have never seen a housing market this manic in years. Buyers face bidding wars and repeated disappointments as well as the overage hurdle. Though a buyer may qualify for X amount and offer it for a listing, that doesn’t include the additional percentage that it may take to get the house!
Buying a brand new home may take longer because in the race to buy houses this year, the move-in ready and even quick move-in inventories are down, too. But, if you can wait eight months or more, here’s the chronology for buying/building brand new construction in the Crystal Valley master-planned community.
Permits, Financing, Upgrades
Before a builder breaks ground, permits must be pulled and building plans finalized on the builder’s end, as you secure financing through a mortgage lender. Decisions such as what to do with a flex room, whether to opt for upgrades like a finished basement or a three-car garage come into play, and those can take one to two months to iron out.
The builder will grade the lot where your house will be built; clearing out debris and rocks and leveling the ground. This process, including pouring the foundation, takes about a month.
The next step is framing the house and building the roof. Framing takes about two months, but snow can delay things by a day or two in Colorado. Once the roof is installed, weather is generally less of a concern.
Once the structure is enclosed, it’s time to put subcontractors to work. These carpenters, electricians and plumbers will finish the inside of the house and install the plumbing, electrical wiring and HVAC which takes about a month.
When the guts of your house are in place, interior tradesmen and tradeswomen come in and get to work. Once they start doing their thing, you’ll begin to see your house taking shape inside as the drywall goes up and most of the carpentry is completed. The interior finishing can take about two months.
Finishing, Fixtures, Final Walk-Through
Now that everything is coming together, the last month is spent finishing out the interior. Additional subs tackle finishing the floors, painting and caulking, adding shelving, appliances, light fixtures, doors, molding, trim and other design elements to your home.
It’s finally time for the walk-through with your sales associate, realtor, and the project manager/ building supervisor. This is when you tour every crook and cranny, study and examine the house up close to create a final to-do or “punch list” of things that need finishing or fixing. These might include minor repairs and paint touch-ups or anything that didn’t get addressed in the final phase so it can be addressed before you move in. And while the process can take from nine months to a year to complete, especially with the demand we’ve seen in the last few years, at least you don’t have to go through a bidding war to close on a home!
New Construction in Crystal Valley
If you’re in the market for a home and are weary of putting in offers and being one of many in the wait-and-see game of real estate roulette, come home to Crystal Valley. Commutes to southeast Denver and Colorado Springs take 20 to 30 minutes, and between the four builders: Richmond American Homes, Kauffman Homes, Century Communities and D.R. Horton there are dozens of options from which to choose. Come and explore the new homes surrounded by nature in Castle Rock, priced from the $400s.