New homes in Palatine IL are limited in choice. There’s not a lot of land left, some opportunity exists where older homes are torn down to rebuild. Palatine has seen a reasonable amount of regeneration and likely it will continue for a long time to come. With plenty of housing stock getting older and being too small by today’s standards, the regeneration project will continue.
New Condos and Townhouses
Palatine has a high percentage of condo property. In the last 15 years there have been a number of new condo buildings, low rises, built. Now new construction of condos is very limited. We do have some new townhomes for sale here. The newest are at Newberry Lane off Lake Cook Rd, also Lexington Chase Palatine IL.
Single Family Properties
New construction homes in Palatine IL are limited. This suburb is still a very popular city to live in and with good schools these tend to go relatively quickly. Start your new construction before building commences to have the most input into model, style, finishes and more.
Choosing a New Home in Palatine
Gone are the days when you could go to a new neighborhood, take a look at a model or two and start your dream home. In Palatine today it’s more likely you’ll either find a ready to go new home or have one built to your specifications. There’s a reasonable amount of new homes with choices of models, sized suitably for the Palatine area. The down side is you likely have to organize your current living situation to be sure you can afford to build new, pay existing rent or mortgage and time your move perfectly.
This can be a challenge if you have a home to sell. We all think our existing homes are the best and will sell in short order for what we want. Reality is a little different. An honest assessment of a sale is what you need, unless you can and are willing to carry the debt on two homes during your transition.
Designs and Styles
The most common style of new homes Palatine IL has on offer are Colonial or Traditional. These are the most sought after styles now and the most prevalent in the town. Lot sizes are usually about a quarter acre, or standard builders lot. Palatine has some larger lots, a third acre up to one full acre. For larger lots consider the Barrington areas where an acre or more is common.
Buyers can find all home sizes here, from Starter to Luxury but the bulk of new construction is above $600,000. The demographics here suggest this is the most likely price range to sell new construction, except for townhouses which are always less expensive and appeal to the buyers looking for little to no maintenance homes. 4 bedroom homes are the most sought after with two and three car garages in demand.
Interior finishes are what makes your home special. A lot of time should be spent choosing flooring, cabinetry, counter tops, appliances, light fixtures, and other decorative finishes. A good agent can help you choose and make sure you understand how your choices today might affect a sale in the future. Most builders have go to companies they use and include a set level of finish for the start price. You can upgrade as you wish for additional cost.
For buyers who want complete control over their dream home, the best solution is to buy a vacant lot, find your own builder, craft and build exactly what you need. [Not all land is zoned residential, we have started with the lowest prices, commercial will show at the end].
When buying a vacant lot consideration must be given to a number of things:
- Will the soil support your desired home?
- The width of a lot can determine the width allowed for a new home. Set backs are always needed. Depth is usually not such an issue but make sure the lot is big enough for both your house and any other living spaces you need such as patios and decks.
- Weather is a big factor when building in the Midwest climate. We have a window of weather suitable for clearing, foundation pouring, construction and making sure a house is under cover before winter weather arrives.
- The village will issue permits, these are required before you can dig your foundation.
- Construction inspections are mandatory.
- From start to finish you are looking at 8-12 months to build and need to add on time you cannot build because of weather.
Finding a builder can be hard too. Some builders prefer to build several homes together, it reduces overhead. You’ll need to focus on the style of home you wish for and find a builder who can do what you want. Most builders are versed in all styles but just like agents, some builders specialize in styles or construction materials.
There are several well thought off schools in the area, and William Fremd High School is well known as a top scoring high school. Buyers often like to keep children at the same school. This can become a challenge when dreaming of new construction in an area of little options.