Its time to talk about new construction in Rapid city.
Everybody it's Tristan Emond mindful living Realty, a realtor right here at rapid city, South Dakota. Welcome back to my YouTube channel, where I talk everything about moving to rapid city and the wonderful things about rapid city. And the black Hills, they were going to drive around to different new construction areas of rapid city.
Give you a feel for what they look like and talk about new construction prices, expectations, and everything else along the way. Welcome to Coalbank drive we're on the very north edge of rapid city. The homes being built on this street are mostly single level properties to try to keep that price around that $220,000 price point.
Now, while we're talking about price, let's talk about price that you would offer on a new construction home. Basically, in a nutshell, he ain't going to get a deal. Price is the price. The builder is going to tack on anything extra on top of that. This is actually been going on for a couple of years now, the inventory has been low enough that builders don't need to discount their prices to get you to buy their properties.
If you don't want to pay a full price, somebody else will. So even when it comes to well, let's ask them to finish the basement and maybe they'll take off a few thousand dollars. Nope. Basement finished will be exactly what base with finished costs. You want to add a fence that will be added on top.
You're generally not getting a discount, on new construction prices in the rapid city area. One thing that you'll notice with the new home construction is that there are few model homes. This is one of the few model homes that are here in shepherd Hills. So division not only would the simulation have single family homes and also have apartments a 55 plus modular home community and even potentially a
small, tiny home community. We'll see shepherd Hills at this moment. Anyway, is your true spec home community. You have your floor plans, you have your options for finishes and that's it. There aren't any upgrades. Aren't really any change orders. You choose what you want. You put it all together and you, if the bill to get done community first got started late 2020.
By that time inventory was already, already starting to get a little low and buyers were jumping on the chance to buy. Single family home, new construction for around 200,000, just above $200,000 and they got slammed. So right now the whole street, everything is sold. There are lots just waiting for a home to be built.
In fact, when you put a purchase agreement together, they tell you we'll get it closed when we get it closed. And you just wait for your time to get put on the list to get closed when it's done. And that's the way it is right now in 2021 with affordable spec housing, you construction in rapid city. Just to the south of us is rapid valley.
We'll get there a little bit later in this video, but everything you see behind me, that's all gonna be houses. Look, simba. Everything the light touches is our kingdom. Wow. I'm sitting here on some vacant, lots in a subdivision called saddle Ridge, just off east, Minnesota and the Southeast part of rapid city.
When you're looking around for new construction homes online. Which notices that different lots are listed differently. Some lots are listed with a floor plan, some show, a home that's a previously built home. Some are listed just as a lot in themselves, depending on the subdivision. Everyone's a little bit different.
Many times they'll have a floor plan already picked out for a lot, just to give you the buyer, a feeling and a visualization of what could be built there. That doesn't necessarily mean that that's exactly what needs to go there, but it gives you an idea at least wise to start with, and then they can start asking questions.
Like, what else can I build here? It is in the middle of March. So things out there aren't as beautiful that I will be in a couple of months when everything gets green and true to South Dakota form. We had a snowstorm this weekend. It's 60 degrees and sunny today, but I wanted to make sure to get this video out to you.
A lot of you mentioned that you were coming in the spring and summer, so I want to make sure that you knew about the options and what to expect. For new construction homes. So quick note, I did video this or the course of two days, and of course, typical South Dakota weather. Those two days can never be the same.
So you'll see differences in lighting. It was chillier year today when I'm recording today, the wind's blowing more today than it was the other day. So you'll see these little subtle changes throughout the way, but I wanted to make sure to get this out to you to make sure that you have the information and if the video wasn't perfect, well, life moves on.
And of course I forgot to bring my replacement battery on my camera. So that ran out. So now I'm using my phone and headset, but Hey, we're getting it done on top of the hill of east, Minnesota is a new development scotland Hills, and you've got to say that Scotland Hills up here, you've got some pretty nice view.
Saddle Ridge had its own exclusive builder up here. Bring your own guy. I would say they got a little bit of work to do yet. Here, I'm sitting on one of the only lots available in high point ranch on a subdivision, just off Sheridan lake road and a popular place. You've heard a call so many times. Colonial Pines.
And why won't you see a great neighborhood? Lots of great views off to the sides, a beautiful community, because it's such a prestigious community. It's also a great place to talk about covenants and hoas. Uh, any areas such as this, some of your covenants may be a little more strict to make sure that everything.
Maintains the same look, appeal and finish. For example, in this area, the covenants require your main floor to be at least 1300 square feet. A lot of other places it's only a thousand other things might include requiring of some kind of stone on the outside, recording certain, some building materials. And you might not be able to park your RV next to your house.
Uh, generally speaking, the hoas in South Dakota are like those scare stories you've heard here about in bigger subdivisions and bigger areas, but they're there to make sure that the look and feel of the community remains the same. Every subdivision will have different covenants with different requirements.
So before you build on whatever lot you're considering building on, make sure you check those covenants. See what's possible. See, what's not possible just to make sure you can park your huge RV next to your house. Now I'm out here at rapid valley. Copperfield vistas subdivision. So let's talk a little bit about what you can expect on a new build and rapid city.
Typically you'll find that most of your new builds will have the main floor finished. Some may have a third bedroom in the basement finished. Just give you that three bedrooms. So you mostly just have the main floor, a third bedroom in the basement. And the rest unfinished, you can always ask the builder to finish out the basement for you, but of course that's just additional money on top.
Normally you'll have a dishwasher and a microwave built in with your kitchen. However, the appliances aren't necessarily always included. Sometimes they have appliance packages. Sometimes they just say, go out and get your own. It just depends on the builder and what they provide. Typically, if you want to go find your own appliances, we can always include those as part of the loan as well.
And the other big things to think of is yard, landscaping, and fences. None of those are being included with the property. That's all on you to take care of later on after the building gets done, consider that when you're putting your numbers together, and thinking about how much money am I going to spend on this new build, make sure you include those numbers there.
And that might include these sprinkler systems, any rock landscaping, all the sod, everything that's included in that for what you need for your property. Finally, your house comes with no window coverings. Have you checked the prices of blinds lately? They're not cheap. So make sure you think about that too.
Window coverings, blinds, and Hey, you're buying a new house, so you probably don't want some new furniture. Right? Always think about these things as well. When you're putting that package of how much is this going to cost me together. When you're talking about new construction properties in the rapid city area,
got on top of my car to show you everything behind me. One day, it'll all be houses here. I'm out of the Southern edge of Murphree ranch estates in rapid valley. I like to call this total division, the guns of division, because we've got names like Remington Wesson. And black Powder road, which is a new area of the development.
So let's talk a little bit about builders in the rapid city area for a moment. You're not going to find any big corporate businesses here in rapid city, any big, huge conglomerate type of builders. Most builders in town are very local. They've got their own local subcontractors and they work well together within the community.
So that's a very good thing. I've worked with a number of builders over the years. And what I found was there are amazing builders, but some of them aren't great as business people. So sometimes it's hard to get floor plans. It's sometimes hard to get the information the early needs and the spec sheets, some information.
So sometimes getting that information to you so you can make an informed decision. It gets to a little difficult if I'm pulling teeth, just to try to get some kind of a spec sheet. A lot of times it's like, yeah, go show, go look at this house over here. That's kind of what it looked like. And so sometimes it gets to be difficult.
Trying to nail those pieces down. The second thing along this line is also making sure that we follow up with all the paperwork. If there are any change orders that all needs to be written down, any decisions that are made all need to be written down and signed, documented. And so sometimes those pieces can take some time.
So have to make sure we stay on top of the builder, make sure we know that what's going on and we keep the constant communication.
Welcome to Elks country estates. So named because the elk country golf course, just that, that way. In fact, there's a hole right behind me in this area. You'll find that homes are smaller, but they are one level, zero entry with features such as huge vaulted ceilings and concrete shingles. The majority of homes are here, are custom built and there'll be more expensive because you've got
better finishes higher end touches. And the area is a little more expensive than some of the other as we visited previously. So these are the things to consider when you're building custom home, that factor into the total cost of your project. Land is more expensive in some areas. Of course, then you've got your finishes.
How expensive are the finishes? How grand are your finishes? How cool is your fireplace to walk in shower? And those concrete shingles out here are a little more expensive, but boy that lasts a lot longer than the South Dakota Hail in case any of you are wondering it's about five o'clock, as you can see, the shadow is falling on my face.
And it's still 57 degrees in March. Welcome to South Dakota spring slash winter slash spring slash winter slash Spring slash something. Weather in South Dakota. It's gotta love it. Everything we've looked at through this video has been in town, city, lots city, water, city, sewer, all pretty easy, but maybe you want a little more space.
Maybe you're looking at a few acres outside of town. I'm up here in elk prairie your states, just north of rapid city, a few miles off elk Creek road. You can get a property similar to this, and it was a little bit of acreage, but you've got to look at a couple of other things, because what you're doing is you're buying a property as a to be built.
So you're bringing in your own builder and you also have to consider. Okay. Does the property that we're looking at have water? Does it have sewer? Do you have to put it on our own Wells? We have to dig around and septic? Make sure. Similarly, if you're looking at property in the black Hills, you watch a video.
I'll put up here. About buying land in the black Hills. What's different about this as well. Is that some builders, the builders we've been looked at previously, we'll hold that note for you. What you do is you present earnest money and you say, Hey, build this house for me. Whenever they close. You'll close on the loan.
If you're buying a lot up here, you may need to buy the lot and then also bring on the builder. Yeah. And get a construction loan to put the pieces together, to buy and purchase the property. Now, this is a little more of a lengthy process and some of the other properties that we talked about earlier with the here's the earnest money, here's the purchase agreement.
We'll, we'll we'll fund the loan when it closes. So if you're buying acreage outside of town, make sure you communicate with your builder, how they intend to fund and finance the home build and the process. All right. So the next question is. New construction or existing home. And of course the answer is it depends.
All depends on who you are, what you want and your thought forms. The first thing to consider is your budget is the new construction property that you're buying. Right, right. At the top of your affordability range, do you not have any extra cash to do such things such as landscaping, grass, fencing, all those other things, new construction might not be the best idea for you.
Or maybe you need to spend less on a new construction to make sure that you have the funds available to put in that yard, to put in that fence, to the dog, et cetera. It might be better for you to buy an existing house. It's just a few years old with the grass established. The fence is already in and all you have to do is move in now, perhaps you're one of those people that likes everything new, no one else has touched it.
You love that new house smell and you want to create it to be just yours the way you want it. Of course new construction is the best option for you in that scenario and years past, I would say to you, make sure that we look at both to make sure that we get you the best value for your money. Sometimes the new construction will be more expensive by the time you add on all the different things, the landscaping, the blinds, the appliances that are already included in an existing home, but in today's market, the way things are going off the shelves for thousands of dollars over asking price, perhaps new construction is something for you to
take a look at builders are pretty busy right now. As I mentioned before closing date is whenever they get it done. So if time isn't an issue and you have the funds to legitimately buy what you need in a new construction, that might be a way to buy something without getting into this building more than we're at, of course, many lots with new construction homes listed on them are getting sold just as fast.
So make sure that once you make your decision, you move on that. There we go, buddy. You construction in rapid city. I hope you found it helpful if you have any questions that I didn't quite answer, drop them in the comments below. I'll be sure to answer them. Have a good day and remember love where you live.