Choosing Between Buying and Building a Home

Buying Versus Building a Home

If you’re looking for a new home, you have two main options: You can buy an existing home or you can build your house from the ground up. The decision of whether to buy or build a home is a big one. There are pros and cons to each option, and the right choice for you will depend on your specific circumstances. Here is a brief breakdown of the benefits and drawbacks of buying vs. building a home:

The Pros and Cons of Buying a Home

Buying an existing home tends to be more affordable. You can also buy older homes that have unique characteristics that you won’t find in newly built homes. You’ll have more options in terms of what neighborhood you prefer. Additionally, you won’t have to wait as long to move into a home that you’ve bought.

Some of the disadvantages to buying an existing home include it’s very hard to find the perfect home. You may not be able to find a home that perfectly suits your needs and preferences. You may also have to deal with expensive repairs or renovations, especially if you’re buying an older house or one that may not be up to code.

The Pros and Cons of Building a Home

When building a house, you’ll be able to design your home exactly how you want it. You can customize every aspect of your home, from the layout to the finishes. Because everything is brand-new, you probably won’t need to spend a lot of money on repairs or replacements for some time as well.

The biggest downside is that it takes quite a bit of time – at least several months – to build a new home. Additionally, it can be quite expensive to build a home from scratch. You’ll need to consider the cost of land, materials, labor, etc. Finding land on which to build can also be a challenge.

Buying vs. Building a Home

There is no right or wrong answer when it comes to deciding whether to buy or build a home. The best decision for you will depend on what kind of home you want, your budget, and whether or not you have time constraints. It all depends on your individual circumstances.

For more advice on buying or building a home, contact us at Randy Lindsay today.

3 Homebuyer Bidding War Mistakes to Avoid

homebuyer bidding war

You’ve finally found your dream house, and you can’t wait to submit a bid! However, you’re not the only one interested: You have competition. A situation like this is likely to occur when you’re in a seller’s market, and it’s critical that you know how to navigate it.

If you get caught up in a homebuyer bidding war, you’ll want to be sure to avoid the following mistakes:

  1. Bidding all your money: It can be easy to get caught up in a bidding war, but the last thing you should do is bid the entirety of your budget. It could make things very tight financially speaking, especially since you should put aside money for things like maintenance and repairs.
  2. Lowballing the seller: If you know there’s another buyer in the picture, don’t try to submit a lower offer thinking you’ll be able to submit a second offer. The seller may simply decide to accept an offer from the competing buyer. Make sure your first offer is a strong one if you want to be taken seriously.
  3. Removing all contingencies: Removing all contingencies from your offer will be appealing to sellers, but you’re putting yourself at serious risk. For instance, if a home inspection discovers significant issues, you won’t be able to back out of the offer without incurring a financial penalty. If you plan to remove contingencies from your bid, be careful about which ones you remove.

These are a few of the common mistakes you should avoid if you find yourself in a homebuyer bidding war. It’s essential that you don’t get too caught up in a bidding war and proceed cautiously. 

For more homebuying tips, be sure to contact us at Randy Lindsay today.

Should I Buy a Home With Lead Paint?

buy a home

Back in the day, it wasn’t uncommon to use lead paint. Lead was used because it allowed the paint to dry faster and resist moisture; however, once it was discovered that exposure to lead paint could result in long-term negative health effects it was banned in 1978. Although you won’t find any homes constructed after 1978 with lead-based paint, older homes may still have it.

Should you buy an older home if lead-based paint was used?

You Can Remove Lead Paint

Sellers are required to inform you if they know that lead-based paint was used in their homes. If they don’t know and you’re buying a house built before 1978, then they should give you ten days to have a professional test the property for lead paint. It’s worth noting that sellers are not required to test for lead-based paint themselves.

If you have children, you may want to avoid homes with lead-based paint. Older paint chips may fall, and if they consume any of the paint, it can cause serious health issues. If you don’t have children, this won’t be as big of a concern, but you likely don’t want to live in a house with lead paint either way.

Fortunately, lead paint can be removed after you buy a home. Just make sure a professional does it. If you do it yourself (DIY), you risk exposing yourself to lead-based dust and debris.

You Can Encapsulate Lead Paint

Another option is to encapsulate the lead-based paint by adding a special liquid coating over the top. However, this will only work if the paint is in good condition.

If you have any other concerns about buying a home or would like to speak with a real estate agent, contact us at Randy Lindsay today.

Buying a Home: What Is Earnest Money?

earnest money

There are a lot of expenses involved with buying a home. Although a home mortgage will cover a lot of the home’s price, you’ll also be responsible for making a down payment as well as paying for closing costs. However, one upfront cost you may not be familiar with is the earnest money deposit.

What Is Earnest Money?

Earnest money is commonly referred to as a good faith deposit. Essentially, it’s a sum of money the buyer puts into escrow after a sale agreement has been reached. Earnest money shows the seller that the buyer is serious about the purchase. It can prevent the buyer from making bids on multiple houses and reduce the risk of the sale falling through.

After all, sellers must relist their homes if a sale doesn’t go through and can end up losing a lot of money as a result – especially if they rejected other offers that were on the table.

How Much Earnest Money Do You Have?

The buyer will put around 1-3 percent of the home’s purchase price into escrow. If the buyer backs out because one of the contingencies wasn’t met, the earnest money will be returned. If buyers back out for no reason other than they changed their minds, sellers will keep the earnest money as compensation for their time.

If the sale does go through, then the earnest money will usually be applied to the down payment or closing costs. It’s not an extra expense but a deposit that shows the buyer is serious. It will be applied towards an already existing expense.

If you’re buying a home, expect to put down some earnest money. For more home buying tips, contact us at Randy Lindsay today. 

5 Questions to Ask When Choosing Movers

Finally closing on a new home can be an exhilarating experience, especially since the stressful home buying process is finally over. However, you’re not out of the woods yet. You still must move.

Moving can be a challenge, which is why you’ll want to find a reputable mover you can trust. Here are five questions you should ask when going through the process of choosing movers:

  1. How much will it cost?
    Movers generally charge an hourly rate for short-distance moves or a rate based on weight for long-distance moves. Make sure they are willing to provide you with an estimate in writing.
  2. Are there additional fees?
    Some movers charge additional fees that they leave out of the estimate. For example, they may charge extra to move heavyweight items (such as pianos or safes) or to move anything up or down stairs. They should be transparent about such fees.
  3. How much experience do they have?
    Look for a mover that’s been around a while. Movers with a lot of experience are likely reputable since dishonest movers are usually discovered pretty quickly.
  4. Do they offer insurance?
    A good mover will provide basic insurance and will offer additional insurance options so you can protect your belongings.
  5. Can they provide referrals?
    Be wary of movers that can’t offer referrals. It means they can’t name a single customer that was happy with their services.

Don’t quickly hire the first mover you find. Keep in mind not all movers are equal. When choosing movers, be sure to ask these questions.

Contact us at Randy Lindsay for additional advice for first-time homebuyers, especially if you need help finding your dream home.

Can My LLC Buy a Home?

buy a home

An LLC (limited liability company) is a business structure that is typically used to help keep your personal finances and assets separate from your business. It means that if your business falls into debt or is sued, your personal finances and assets will be protected — and vice versa. If you have an LLC, then you might be wondering if you can use it to buy a home. The answer is yes; however, whether you should or not is a different matter.

The Benefits of Using an LLC to Buy a Home

  • Improve LLC’s financial status – If you’re trying to grow your business, using your LLC to purchase a house will put the asset under its name, thereby growing its financial profile (and potentially making it easier to secure business loans and credit).
  • Ensure your privacy – The purchase of property is typically public record; however, if you use an LLC, you can keep your name out of that public record.
  • Limited liability – If someone is injured on your property, they’ll often only be able to sue your LLC and not you personally.

The Drawbacks of Using an LLC to Buy a Home

  • Securing financing is more difficult – Trying to secure certain types of loans to buy the home can be difficult if you’re trying to do so under an LLC.
  • You may not qualify for capital gains exclusions – If you sell your house and make a profit, you’ll have to pay capital gains taxes. If you’ve bought the house using an LLC, you won’t be able to qualify for the capital gains exclusion, which means you’ll have to pay significantly more in taxes.

Keep these pros and cons in mind if you’re thinking about using an LLC to buy a home. For more home buying advice, contact us at Randy Lindsay today.


Randy has enjoyed over 31 wonderful years in the Real Estate industry making dreams come true for homeowners.

Superior customer service is #1 to Randy and he provides this to all of his clients using knowledge, professionalism, integrity and persistence.

Randy is a successful and experienced real estate agent who expertly represents both buyers and sellers. Scores of Charlotte area residents have trusted Randy in the process of listing their homes to sell.

read more

Real Estate in Rock Hill,

Fort Mill and surrounding

York county

Reviews on Zillow
"Randy was very easy to work with. He was open and honest, and always there to answer any questions or concerns we had. He was available and worked ... more "
by Diana Holliday
"My wife and I worked with Randy to sell our home located in the Lake Wylie area. Great job of preparing the information and advertising for the ... more "
by Bruce Dycus
"Randy actually helped us sell our old house and buy our new house. He was honest and hardworking and sold our home in a week. We were pleased with ... more "
by Jennifer Tobin
Mortgage calculator

Find us on Facebook