Buying vs. Building – Roers Real Estate

Buying a home is a big step and can be overwhelming, whether you are a first-time homeowner or have gone through the process before. Roers Real Estate is here to help you with the purchase process. There are two options when it comes to choosing your home. You can search what it currently on the market, or you can look into the option of building a home custom for you. What steps should you take when purchasing a home? Is building or buying a better option for you?

We met with our Roers Real Estate agent, Anne Kallhoff, to ask her some questions to help you.

In general, what are the benefits of buying a home?

When you buy a home, your money is going toward equity in your home. When you rent, the money you are putting toward your rent each month, isn’t money you will ever get back. When you are paying toward a mortgage, you are building equity in your home and you will usually see a return when it comes time to sell your home. When you own a house, you also have the ability to make any changes you want (paint, flooring, remodeling, etc), and you can have pets if you choose without penalty.

What is the first step a person should take when they are thinking of buying a home?

I always tell my clients to meet with a lender in person or over the phone to get an idea of how much they can afford. This will help so they aren’t looking at homes out of their budget and will ensure they don’t miss out on features they could have that are within reach with their budget.

What are the benefits of building vs buying a home?

When building, you’ll see the same benefits as purchasing a house already listed on the market. In the building process, homes can be fully customized, you can choose finishes you want throughout your entire home and find or design a layout that works well for you. If you purchase one that is already on the market there are other benefits such as being in established neighborhoods, lower specials and character homes.

As far as price, is there a difference between building and buying?

The costs with building and buying can vary. One of the biggest benefits of buying is a tax abatement provided by the local cities. Depending on the builder you work with, the lending process can be quite different.  A construction loan has to be taken out by someone when building a home. Most of the time, the builder does this and you only have to take out a standard mortgage loan, but occasionally the builder will require you to take out the construction loan. When purchasing an existing home, you typically have to take out a standard mortgage loan. The specials can tend to be higher with new construction.

What is the average time to close when buying or building?

When you buy an existing home, you can typically close within 30 days pending appraisal and inspection. With new construction, you are looking at anywhere from 90 days to a year, depending on the builder and the level of customization.

Who can new homeowners contact to go through options?

A realtor and/or lender are the best people to contact first to start the home buying process. A lender can tell you how much you are pre-approved for, and a buyer’s agent is there to assist you, the buyer, with any questions regarding finding the right fit for your next home. 

We hope this information helps! Roers, Real Estate agent Anne Kallhoff is here for you with any questions.

Happy house hunting!

Visit our real estate page here!

 

Anne Kallhoff
Roers Real Estate Services LLC
701-866-4425
akalhoff@roers.com

 

Roers Closes Sale of U32 and T Loft Apartments

U32 Ph 1 & 2 exterior

Roers recently announced it has closed on the sale of U32 Apartments and T Loft Apartments in Fargo, ND.

In 2005, Roers brought the concept of premier private student housing to North Dakota State University and has become the leader of off-campus student housing with top notch amenities, security, and all-inclusive rent payments. Between T Lofts and U32 Apartments these projects have provided 414 units of premier housing to the North Fargo community. The Roers team developed, constructed, and managed T Lofts and U32 Apartments. During this time, the team served thousands of residents with a premier living experience and had the opportunity to be a resource for college students to have a great living experience right next to campus.  “With the recent success of leasing our buildings with over 95% occupancy rates, we were aware these properties were in optimal position to sell, especially with the current low interest rate environment, commented Danielle Paulus, Roers Chief Operating Officer.

HB Ledges Management, based in Arizona, has taken over ownership and property management of both properties. HB Ledges has experience in student housing and is excited to invest in North Dakota. The Roers team will continue to be a resource for the new owners as consultants during the first year.

“We are excited to be investing in the Fargo market and look forward to continuing the premier experience Roers provided at the buildings,” said Howard Berger, Managing Director for HB Ledges.

T Lofts is located across from the NDSU campus just off 12th Avenue. Built in 2012, the property has 181 units and is equipped with amenities perfect for students to enjoy from fitness rooms, study rooms, lounge with billiards, and underground parking. All amenities plus air, heat, internet, and cable are all included in one bill for added convenience. Students transitioning from on-campus living find T Lofts an excellent option as it is within walking distance to campus and many other local attractions in North Fargo.

U32 Apartments  was built in 2017 and has 233 units. U32 is known as Fargo’s first amenity-rich, lifestyle-driven, all-inclusive living experience. Some of the sought after amenities include state-of-art fitness center, outdoor courtyard with basketball court, beach volleyball court, patio grill, and fire pit areas, indoor swimming pool and hot tub, sauna, racquetball court/yoga studio, community lounge, study rooms, underground parking and more. U32 is located at 1151 32nd Ave N in Fargo.

Jim Roers, CEO of Roers, is excited as he looks forward to the next development. “This is a wonderful opportunity for Roers to take this success and invest back in the community with future projects. We have excellent opportunities for additional projects near campus and throughout this community and we are already working behind the scenes to determine our next steps,” Roers commented.

Roers currently manages properties for outside owners as well as owns and leases various properties including apartment complexes, several townhomes and single-family homes throughout the Fargo-Moorhead and Dickinson communities. 

For more details on Roers including development, construction, property management or real estate, please visit roers.com.

Introducing Anne Kallhoff to Roers Real Estate

Introducing Anne Kallhoff

Roers is proud to announce and welcome Anne Kallhoff as a Real Estate Agent.  Anne will be leading the Roers Real Estate Team for both commercial and residential properties. With nearly 15 years of experience in real estate, she has grown to be a leader in the industry in the Fargo-Moorhead area. Anne’s drive and passion to find buyers and sellers the property they desire has developed strong relationships with clients.

Anne stays busy outside of work volunteering with the Moorhead Youth Hockey Association, Good Shepard Church and various United Way of Cass-Clay programs. You can also find her often watching her three kids playing hockey.

Roers Real Estate

Roers Real Estate has over 40 years of combined experience with the entire team. In addition to our expertise,  clients can count on us for our reliability, relationship building and excellent communication..  Between residential and commercial  our team can find the perfect property.  For commercial clients, Roers Real Estate can either help you purchase or lease a property. Anne and the team can assist residential clients on first time homes to that perfect retirement home.

For more information about Roers Real Estate or to view available properties, please visit our Real Estate page online

Exciting Times for the City of Moorhead

Roers and the City of Moorhead (the “City”) have recently announced their plan to enter into a predevelopment agreement with the option for the City to purchase real estate property with Roers. The partnership will lead to identifying redevelopment opportunities for the existing Moorhead City Hall, located at the 500 block of Center Avenue in Moorhead, and surrounding City-owned property. The predevelopment agreement provides Roers Real Estate Services to take representation of City-owned property in order to explore potential partnerships, which may lead to a comprehensive redevelopment plan for the City owned property. Roers and the City have entered into a professional services agreement, therefore a public bid for the services was not required. Roers will not be compensated in any manner until a City approved plan is developed. As part of the joint venture, Roers and the City will focus on a win-win situation for all parties including the Moorhead Center Mall property owners, Downtown Moorhead Inc., residents and business owners of Moorhead. Moorhead Center Mall is privately held, therefore these properties will maintain standard operating. Both the City and Roers recognize these businesses have been vital to keep the mall a destination for the community. Roers will partner with Moorhead Center Mall property owners to identify future opportunities as plans for the City progress. Downtown Moorhead Inc. and the City of Moorhead have begun to embark on a downtown planning effort, which is currently engaging citizens and business owners in creating a vision for Downtown Moorhead. Any project concept Roers would develop for City-owned property will be consistent with the vision of the Downtown Master Plan currently being drafted. “We anticipate this partnership with the City of Moorhead is just the beginning of major growth for the entire Moorhead community. With the excitement the Moorhead residents and business owners have around the plans for revitalization in the downtown sector, there are abundant opportunities for growth. Its an exciting time for the community,” commented Jim Roers, CEO of Roers.

Spring Parade of Homes: Crestwood

Spring Parade of Homes features homes for families in different life stages
FARGO — This year’s Spring Parade of Homes focuses on the homebuyers’ stage of life — and how it affects their home’s size and design.
The Home Builders Association of Fargo-Moorhead’s Spring Parade of Homes features 93 newly constructed homes by 50 local builders, including options for those age 55 and older, first-time buyers, families looking to expand and those wanting to downsize.
Builder: Roers Construction Value: $243,900 Size: 1,450 square feet, two bedrooms and two baths (For those who need a little extra space, there is a three bedroom, three bath (2,200 square feet) option with an elevator, valued at $322,900.) Address: 2860 Calico Dr., Unit D, Fargo Stand out details:    – 9′ ceilings – Heated 2-stall garages – Large private patios and courtyards “What makes these homes special is that they are truly one-level living, says Matt Nygard, Roers development research analyst and executive of residential sales. “You pull into your garage and you walk right into your condominium.” During the fall of 2016, Roers – which primarily builds multifamily and commercial housing – decided to build reasonably-priced Crestwood Condominiums for buyers 50-and-older. “We did some research and saw that there were a lot of people in the 50s and 60s looking for this,” Nygard says. “We decided to build these homes at the mid-$200,000 to lower $300,000 price points.” Nygard says by building a spacious one-level condominium at this price point, many people could downsize their current home without going into debt to purchase a new home that would include some aging-in-place features, like the wide, wheelchair or walker accessible doorways and spacious bathrooms. “All units have butler pantries which helps keep the kitchens less cluttered with coffee pots, mixers or toasters,” he says. Nygard also points out the mobility and freedom each home allows its owners. Conveniently located between 45th Street and 42nd Street and just north of 32nd Avenue South, each unit includes snow removal and lawn care. “Owners have peace in mind going on extended vacations knowing that the condo property is secure and taken care of,” Nygard says.
Read the full article here: http://www.inforum.com/lifestyle/home-and-garden/4431329-spring-parade-homes-features-homes-families-different-life-stages