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You Bet! Buying newer homes in North County have a greater value. More buyers in today’s real estate market in the North San Diego County area are realizing the value of buying a new construction home. Besides from the reduction of inventory in existing homes in the area and the current challenges of purchasing an existing home Buyers are recognizing the advantages of buying a newly constructed home.
Typically, newly constructed homes sell for approximately 10% to 15% more than existing homes. You would expect anything new to cost more than something that is old, used, worn out, out of date. If you purchase an existing home that is outdated you could easily spend tens of thousands of dollars to bring it up to date with an extensive remodel and the remodel may not necessarily take care of all the unknown, unseen or undisclosed problems associated with an older home.
Where Will Homes be Built in North County?
The North County housing market appears to be headed in a positive direction as home values are climbing and recovering some of the lost values that occurred during the recession. The new construction home market is moving swiftly as sales have increase at the existing new home communities in North San Diego County. Interest rates remain low, the job market has improved and current inventory of existing homes as well as new construction homes is dwindling.
So where will the new homes be built in the coming years?
700+ Homes Coming to Harmony Grove.
On a recent bike ride on one of my favorite routes through Elfin Forest and the Harmony Grove area I discovered that construction fences have been installed and demolition has begun on the future site of Harmony Grove Village, where Standard Pacific Homes plans to build a 742 home community on 468 acres. The site is where the Ward Egg Ranch and Harmony Egg Ranch has been located since the 1960s. This new community will be ideally situated with easy access to bordering Escondido and San Marcos in a rural setting surrounded by country estates, horses and scenic hilltops.