What’s the Average Cost of a New Home in Chattanooga?
Buying a home is always an exciting prospect! There’s nothing like the anticipation of getting settled and making memories in your new space. But before you get to the fun stage of settling in, there are countless details to hash out.
Finding the perfect home can be stressful and building the perfect home comes with challenges. Working with a knowledgeable home builder makes the entire process hassle-free. If you’re in the market for a new home in Chattanooga, here are key details for calculating your costs.
Know Your Market
If you’re not from Chattanooga, you should know the area is becoming increasingly popular for home buyers. It’s a growing city, and including the suburbs, there are half a million residents. That’s a lot of people buying and selling!
Even with the aftereffects of COVID-19, the economy is climbing. A continued boom makes it harder to buy land and houses. Some properties are on the market just a few hours before being snatched up! This summer, pending sales were up over 40% from the same month last year.
Choosing Your Land
Land is limited, and building on raw land includes a lot of red tape. By partnering with an experienced community home builder you have countless properties available, right at your fingertips!
GreenTech has many communities and over 1000 home sites throughout Tennessee. We take care of the pesky details like clearing the land, acquiring materials, permitting the build and the construction. Some people are willing to handle these factors and expenses themselves, but it’s a learning process. Surprise costs can add up quickly.
Costs to Consider
The major costs of building a home can be put into 5 categories:
- Land
- Permitting
- Design Options
- Construction
- Inspections
The bulk of your budget goes towards labor, at about 40% of the overall cost. The remainder goes towards everything else.
In Chattanooga, according to Home Advisor, building a new home costs around $166,000 to $482,000. The wide range comes from factors like square footage, design choices, multi-level vs. single-level, technology and amenity upgrades, and quality of the build.
Why Buy A Brand New Home?
These prices are competitive when you consider the whole real estate market. Median home prices in the South are rising. The average home sells in the mid-$200s.
You could just buy an older, pre-existing home…but it would still fall into this price range. And for a completely new build from GreenTech, you get more for your money at a comparable price!
Save money when you partner with a new home builder. GreenTech has spent over a decade crafting layouts that are efficient to construct. Relationships with building suppliers are in place, making the cost of materials more affordable. The paperwork, regulations, and overhead of breaking ground on raw land have already been addressed.
Benefits of Working With A Community Home Builder
Production homes earned a bad reputation in the past. Negative feelings of cookie-cutter developments and poor quality results gave the home building industry a bad name.
GreenTech is changing that perception. We forge communities and craft homes that embody our values:
- Stunning designs
- Green building practices
- Energy efficient construction
- Quality materials
- Smart-living technology
- Lasting craftsmanship
- Communities that are designed to enhance the natural surroundings
All of these benefits lead to enduring results. Not to mention, with a new build you’re starting fresh. That means cost savings over time. Older homes have outdated plumbing, inefficient HVAC systems, and appliances that are on their way out. New homes are ready to last for years to come! They’re the best way to stretch your budget.
GreenTech Homes has years of experience, exceptional home designs and move-in ready homes. Find your dream home today!
