New Construction VS Existing Housing

[Cory J Thornton]

Right now the median price of new construction homes is as close as I have ever seen it to the median price of existing inventory. 

I started working in the trades when I was only eleven so I wasn't ever scared off by old houses. My wife and I got our start buying really rough homes and turning them into long term rentals. 

When we started I had a lot more time to lean into old home problems than I do today. 

With the price of new construction and existing homes being so close, I have started thinking about selling some homes, and building some new units, eliminating old home issues and freeing up more of my time. 

Last night after work I had to fix a water heater on one property, a water line leak under a sink at another property, and work on an HVAC unit at a third property. Yesterday was one of those days where it all hit at once, but it has me thinking about new construction this morning. 

Has anyone else started making the jump form renovating houses to building them new? What caused you to make the move? Was it a market based decision or a quality of life one? Now that you have made the move, was there any part of the learning curve you would want to warn me about? 

[Bob Stevens]

Quote from @Cory J Thornton:

Right now the median price of new construction homes is as close as I have ever seen it to the median price of existing inventory. 

I started working in the trades when I was only eleven so I wasn't ever scared off by old houses. My wife and I got our start buying really rough homes and turning them into long term rentals. 

When we started I had a lot more time to lean into old home problems than I do today. 

With the price of new construction and existing homes being so close, I have started thinking about selling some homes, and building some new units, eliminating old home issues and freeing up more of my time. 

Last night after work I had to fix a water heater on one property, a water line leak under a sink at another property, and work on an HVAC unit at a third property. Yesterday was one of those days where it all hit at once, but it has me thinking about new construction this morning. 

Has anyone else started making the jump form renovating houses to building them new? What caused you to make the move? Was it a market based decision or a quality of life one? Now that you have made the move, was there any part of the learning curve you would want to warn me about? 

 RE is nothing but math, do the math and see which works

Good luck