From dirt lot to moving in, here's what the new home timeline looks like
A framed, uninsulated new home in Littleton's Sterling Ranch
How long does it take to build a home in Sterling Ranch?
Here at Focus Real Estate we've been following Sterling Ranch's build process and timelines closely since Day 1. We've also been fortunate to have had the opportunity to help a number of clients as their realtor and assist them with Sterling Ranch's construction process. Regardless of whether you're building with Lennar, Parkwood, Tri Pointe, Meritage, or another builder, here's what I know about building timelines in our neighborhood!
Last week I was at a client's contract signing for a new Lennar home in Providence Village. Right now that home is a dirt lot. Lennar is projecting a completion date of the first week of July 2020 for that particular home. Lennar is one of the faster builders in Sterling Ranch, and this home is a good example of a fast timeline - about 6 months from contract signing/dirt lot to "keys in the door."
At a high level, if you're looking to build a new home in Sterling Ranch today, you might generally assume an 8-12 month build-out period from the day you sign your contract until the home is completed. That's not a perfect estimate by any means.
There are homes - like the Lennar I mentioned above - that will be done in 6 months. There are also lots in the new Ascent Village that could be 18+ months away from projected completion. So the real answer is "it depends."
In fact, there are "quick move-in" homes that are available now, and will continue to be finished each month going-forward. A "quick move-in" home is a home a builder starts on without a buyer. Why? Sometimes builders prefer to pull permits for an entire block simultaneously; other times a builder had a buyer, but for whatever reason that buyer fell through.
Regardless, I love quick move-ins (also known as "spec homes") because buyers get the benefit of purchasing a brand-new home with all the latest and greatest features and technologies - without having to wait for the home to be built.
That said, one potential disadvantage is you might not be able to pick out the upgrades and designs you want.
If you're interested in learning more, check out this article:
Ultimately, there are a variety of factors that go into your particular home's build-out timeline - your builder, where your lot is, weather, availability of trades, Douglas County permitting, and more. Work with your builder and realtor to pin down as precise a completion date as you can, but also understand that because of the nature of construction, timelines are always fluid.
On a related topic, I've found that timelines can be an area of acute focus for potential buyers in Sterling Ranch. After all, many of us need to sell our current homes before we can close on our new homes. I built my home with one of Sterling Ranch's builders and had to sell my prior home before I could close.
So how best to manage all this?
Though every situation is different, generally here at Focus Real Estate we like to list client homes for sale approximately 90 days prior to when their new home is scheduled to be done. This listing timeline depends on many factors and is unique for each home we list.
But assuming a hypothetical 90 day listing timeline, if the home sells quickly, we'll generally ask for a "leaseback." So if you close on the sale of your home on, say, day 70 of our 90 day timeline, you'll continue to live in your home for another 20 days under a short term lease (which is relatively common in Colorado, by the way). If your home doesn't sell as quickly, we'll have a couple months to aggressively market your property.
Last but not least, if you're thinking about building or buying a new home, be sure to check out the Roundup's library of new home articles and videos: Building a new home: Everything you need to know, in one spot. From deciding whether to finish your basement with your builder or with your own contractor after you close, to learning the 7 most important things you need to know about new home contracts, to helping you understand what to look for during your pre-drywall walk, my goal is to provide you as much information as possible about your new home!
Mariel Ross is a realtor who specializes in helping clients budget for, design, and build their dream homes. At Focus Real Estate we've helped clients build hundreds of new homes around Denver with Lennar, Parkwood, Richmond, Wonderland, Shea, and many other builders.
Learn more about what I do here, as well as the cost (in short, your builder pays your realtor, not you, so our services are at no additional cost to you - which is how we're able to offer our free New Home Package).
If you'd like to chat, shoot me a note at mariel@focus-realtors.com and be sure to "Like" the Roundup on Facebook. The Sterling Ranch Roundup is powered by Focus Real Estate.