The Truth About Building vs. Buying a Home in Colorado Springs

We met with our good friend Doug Herebic from Herebic Properties to talk about the current state of the housing market. Doug has been building homes in Colorado Springs for 20 years and selling real estate for 10 years.

Doug had some unique insight on building vs. buying, as well as how to sell your home for max value.

If you’re thinking of buying or selling a home in the next few years, you need to watch this video…

Recap

This year the housing market has been similar to the last 2 or 3 years. It’s a great market… for sellers. Buyers are having a hard time due to low inventory.​

If you’re thinking about selling your house in the next couple years

People say that master bathrooms and kitchens sell homes, and it’s still just as true. Updating those will help your house sell for max value and quickly. 

What ALSO helps you sell for max value that people don’t often consider is taking care of all the little things that might show up on an inspection report.

Focus on mechanical things like having your furnace and roof inspected. Curb appeal items also go a long way to helping you sell for max value.​ Your house needs to make a good first impression just like anything else.

Buying a house is an emotional decision. You want prospective buyers to feel good about your house from the moment they see it, right on through to the inspection. Otherwise, you’re going to leave money on the closing table.

Why do we wait?

So many sellers wait to take care of things that they’ve always wanted to do to their house until right before they go to market. Why do we do that? Why not update your master bath, and/or your kitchen now? You might as well enjoy your home while you’re still living in it.​

If you would like to see what it would look like to go ahead and update your master bath and/or kitchen go here to request a free estimate.

You might not get a bidding war

Yes, it’s a seller’s market right now, but that doesn’t necessarily mean that you’re going to get multiple offers in a matter of hours above asking price. Anything over $350k probably isn’t going to get the feeding frenzy that you might assume is out there. ​

So what can you do to help your home sell high and quickly? Buying a home is an emotional decision. If you can knock out all of those inspection items before you go to market, it will definitely help the feeling that prospective buyers have toward your property. ​

To build or not to build?

​​The building market and the resale market tend to lag each other. Resale moves up first, but it also moves down first. Over the last 3 years, as resale home values have increased dramatically, building has become the better value. However, over the last 6 months, building costs have gone up, evening out the value. ​

Doug & Stacey are a one-stop shop for building and real estate

Doug and his wife Stacey can help you find land, buy it, design your custom home, build it, sell your existing home and/or buy a resale home. You can go here to get in touch with them.​​

What would it look like to update your kitchen or bathroom now?

Cody Binder

About Cody Binder

Customer Experience and Marketing Manager at Homefix in beautiful Colorado Springs, Colorado. Follower of Jesus. Family man. Colorado Texan. Slightly above average athlete.