Martin Langer and his wife Charlotte are like a lot of other 55-plus homeowners who have decided to move. They wanted something smaller than their house of 18 years, but they also thought it would be nice to have something new.
“There’s just something nice about a new house,” said Martin Langer.
The couple recently purchased a condominium at the Legacy Club, a building under construction in north suburban Highland Park. What they may not have expected were the number of decisions that they now face as purchasers of a unit in a building still under way.
“One really has to be thoughtful about everything,” said Langer. “There are lots of decisions.”
First-time buyers of new construction aren’t a lot different from other first-time home buyers. Both groups face a lot of uncertainty about the mysterious real estate process they are about to undergo. But the person who has already been a homeowner for 30 or 40 years and decides to build a new home today can easily get caught off guard simply because the real estate world has changed so much over the last several decades.
The primary hurdle many first-time buyers of new construction face is the sheer number of decisions that have to be made regarding the finish of the house.
“The availability of options is overwhelming compared to 30 years ago,” said Andy Simac, regional sales manager for Cambridge at Carillon, near southwest suburban Plainfield. Buyers can expect to have to make decisions about everything from faucets to floor tiles and carpet colors to trim moldings.
Simac encourages his buyers to look at the model homes where they can see the difference between the standard features, which are offered for the base price, and the upgrades, which cost extra.
“The homeowner should make sure there is a clear understanding of what is included in the home,” said Simac.
At Carillon, homes are fully finished, which means the base price includes just about everything. The only exceptions are the washer and dryer and microwave. But, Simac added, upgrades to basic home models can cost anywhere from $2,000 to as much as $50,000, depending on what the home buyer wants.
He says the most common upgrades are for better cabinets in the kitchen and bathrooms. Many buyers also opt for a high-quality trim.
“These are features that are hard to change after the house is finished,” noted Simac.
More builders are offering assistance to first-time buyers of new construction. At the Legacy Club, for instance, home buyers work with a design coordinator who helps them select the finishes for their unit.
“We offer a fair number of options,” said Greg Rekett of Northbrook-based Ferris Homes, developer of the Legacy Club.
At Del Webb’s Sun City in far northwest suburban Huntley, a homeowner coordinator is assigned to every buyer. The coordinator takes the buyer through the home-building process in a formal presentation. The coordinator also becomes the buyer’s point person from the time of purchase until the move. There are scheduled walk-throughs during the construction process, too.
For many of those over 55 who are building a home for the first time, one of the most difficult things to decide is whether to sell a current residence before the new house is ready. Langer has already sold his house and hopes to be in his new condominium this July. But he may have to find temporary housing with a relative because he’ll probably have to be out of his old house before then.
“It’s a concern,” said Langer.
“There’s no easy answer,” said Cynthia Kleronomos of Property Concepts Inc., developer of the River Run Club, in far west suburban Oswego. She explains that for those trying to build a home and sell another, it’s often difficult to get the timing just right, especially when it comes to knotty financial details.
Property Concepts has two programs to help first-time buyers of new construction. Home buyers at River Run Club can use a special referral program, which puts them in touch with a real estate agent who can sell their old home. Home sellers pay a reduced commission — about 1 percentage point less than the typical 6 percent charge.
Also, buyers at River Run Club, which will have 100 single-family homes, can get below-market-rate financing with no closing costs.
Another detail to investigate is the community’s property association, something owners of single-family homes may not be familiar with. Many adult communities assess a monthly fee, akin to the fee paid by condominium owners.
Fees can cover maintenance or amenities, or both. Also, the association may have very strict rules about what you can or cannot do to your house. These rules may specify what color you can paint the exterior and whether you can change the original structure.
Resources
– AARP has a packet of information on “universal design,” a concept that incorporates special features into the home to make it easily accessible for all age groups. The packet includes a nice room-by-room list of what features are best, such as wide doorways and multi-level work areas in the kitchen. For a free copy, write AARP, 601 E Street, N.W., Washington, D.C., 20049.
– Remodeling and building information is available from the Center for Universal Design, North Carolina State University, Box 8613, Raleigh, NC 27695. Or call 800-647-6777. The group offers a basic packet on universal design with room-by-room suggestions. It also publishes illustrated booklets you can order that show which features make a room more accessible.
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Jane Adler is a Chicago-area freelance writer. If you have questions or information to share regarding housing for senior citizens, write to Senior Housing c/o Chicago Tribune Real Estate Section, 435 N. Michigan Ave., Chicago, IL 60611. Or e-mail adler@megsinet.net
