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San Diego downtown real estate broker

Bob Schwartz, CRS, GRI 

Certified Residential Specialist



San Diego, California 92101

Telephone - Cell:
(619) 300-8819

(619) 229-0048

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Buying Unfinished Homes

Unfinished homes present a really good way to save lots of money and get yourself a new home in the process.
If you purchase an unfinished home, you can keep your monthly mortgage payment low and also lower your
initial investment. You may also be able to purchase a bigger foundation size as well, which you can easily
add on to and save money in the process.

Normally, unfinished starter homes leave the upstairs area incomplete. The question here, is just how much
equity you want to put into an incomplete area. Sometimes though, an uncompleted home may leave the roofing,
framing, plumbing, or electrical factors unfinished. Before you make a purchase, you should always decide
how much money you have to complete what needs to be finished.

If the home you are looking at has plans for a garage, you can conserve thousands if you figure not to go
with the garage. On the other hand, if there is another attached room that is planned to go onto the house,
you can conserve just as much if you decide to skip it. There are always ways that you can save money just
by looking at the plans. Unfinished homes may have other planned on additions as well, in which you can save
a lot of money just by leaving them out.

The is something that you should always keep in mind. When builders obtain a piece of property that they
plan to construct a home on, they will do everything they can to make as much money as potential on their
homes. You might be able to get them to agree to some of these ideas, although they likely won’t agree to
all of them. Building homes can be a very advantageous business - which is why most companies like to build
their homes just as the plans call for.

When looking at unfinished homes, you also need to look at what banks are willing to accept. If you are
planning to obtain a mortgage, most banks will need to make sure that the home is up to modern codes and
sufficient in living condition. What this means, is that there will need to be a living room, bedroom, and
other rooms that are entirely finished. If the home is without quite a bit in terms of being unfinished,
most banks won’t give you a mortgage.

Most banks are also known to turn down unfinished home mortgages that they percieve will have difficulty
selling in the event that you default. Normally, the entire downstairs area will need to be finished, along
with most of the landscaping. You may be able to do some of it yourself and conserve money, although in most
cases the home builder will need to do a large amount of the topsoil and grass just to satisfy the bank.
Banks have strict prerequisites when it comes to unfinished homes, which is why you should always verify with
your bank before you invest in an unfinished home.

As the majority of us already know, buying an unfinished home provides an excellent way to get into the
housing market and obtain your very own home. Unfinished homes also permit feasible buyers the opportunity
to grow into their home along with their family. If you are interested in conserving money, you should be
certain to talk to the builder. This way, you can go over the theories and figure what doesn’t need to be
there. In most cases you can save tons of money and still get a home that will provide years and years of
memories for yourself and your entire family.



Bob Schwartz, is a Certified Residential Specialist, CA licensed real estate broker with Bob has over 27 years of residential real estate experience, authored a number of published articles and served as an expert witness for San Diego lawyers. You can contact Bob via e-mail at or visit his highly popular San Diego real estate website at:
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