It’s no secret that the Phoenix housing market is red hot right now. One of the Phoenix neighborhoods that has seen the highest home price jumps is the charming and highly-coveted Arcadia neighborhood. Out of towners, move-up buyers, and other affluent home seekers are snatching up Arcadia, AZ, homes for sale due to the prime location and types of homes available.
Steeped in a rich history, this neighborhood has a ranch-sytle feel, a strong sense of community, and friendly residents. While the serene setting feels worlds away from the big city, it is nestled right between Phoenix and Scottsdale, making it an ideal location for those looking for a peaceful, upscale community with an easy commute to work and quick access to the airport, shopping, and modern luxuries.
When shopping for an Arcadia property, you will find beautiful historic and luxury custom homes available for purchase on large lots with palms, citrus trees, and lush, green landscaping. They are typically well-maintained and move-in ready.
However, if you don’t see anything that meets your preferences but love the Arcadia district, there are lots of teardown opportunities. In fact, one of Arcadia’s trademarks is its post-war ranches, which were built on large lots. These homes are older and, in many cases, sorely outdated. A current trend is for buyers to purchase these homes on beautiful oversized lots, tear them down, and rebuild to suit.
Are you interested in moving to the Arcadia neighborhood but don’t know whether you should buy a move-in ready home or look for a teardown property? Here are some of the pros and cons of each to help you make the best decision with your home purchase.
Considerations for Tearing Down and Rebuilding in Arcadia
If you have discerning tastes and are having trouble finding your dream home in Arcadia but don’t want to settle for any other neighborhood, buying an old property to tear down and rebuild might be just the solution. The pros of going this route include the following:
- You can build in a highly sought-after neighborhood like Arcadia even though it has already been built up.
- You can build a home to your exact specifications (as long as you adhere to permitting and zoning regulations).
- A brand-new home means you won’t have to worry about immediate repairs or renovations.
- You benefit from the energy efficiency, quality craftsmanship, and luxury features that can be included in a new build.
The thought of an amazing custom home in Arcadia is tempting, but here are some things to consider before purchasing a teardown:
- Zoning, permitting, demolition issues, or historical preservation restrictions can complicate the build or restrict what you are envisioning.
- The cost will likely be higher because you are paying for both a demolition and a new build.
- The process can take months, so you will need to have alternative housing available until the project is complete.
- Financing can be more complicated due to the costs of purchasing the property, completing the demolition, and then building your new home.
If you are looking for a teardown property, enlist the help of a top Arcadia realtor like Thomas Osterman who can help you find your ideal lot and can recommend the best home builders, architects, lenders, and other professionals that can make your vision a reality.
Pros and Cons to Purchasing a Move-In Ready Arcadia Home
Maybe the whole tear down and rebuild process isn’t your cup of tea. No problem, there are also some fantastic move-in ready home options in Arcadia. Some pros to buying a move-in ready home include:
- The ability to occupy your new home in a timely fashion.
- Straight-forward financing.
- Avoiding the headaches that can come with the teardown/rebuild process.
- Having the freedom to update/renovate your home when convenient for you.
- Incurring less cost than a teardown and rebuild (generally).
There are also some cons to purchasing a move-in ready home. Here are some of the possible drawbacks you should consider:
- Chances are you will not find everything you are looking for in a home, so you may have to settle for some features you don’t love.
- If you choose to renovate after moving in, you have to live with the noise, mess, and inconvenience that can come with renovations.
- Depending on the age and condition of the home, you may have to shell out some money for needed repairs or upgrades sooner rather than later.
- Your home may not be energy efficient, resulting in higher utility bills.
Many homebuyers find that purchasing a move-in ready home and renovating it to their specifications is the easier route to take. It all depends on your personal preferences. It’s a good idea to talk to a realtor before you start home shopping in order to find a property that checks all (or most) of the boxes.
Finding Your Perfect Arcadia Property
Arcadia property is in high demand. Whether you purchase a move-in ready home or buy a classic home to demolish and rebuild the home of your dreams, you really can’t go wrong in this little slice of heaven. To help you reach your goals, we recommend working with an experienced real estate agent in Arcadia AZ to ensure that the process goes as smoothly as possible.
Thomas Osterman has been helping buyers determine the best type of Arcadia property to fit their needs for the past couple decades. With his wealth of industry knowledge and connections to other professionals in the community, he can help you find the perfect teardown or move-in ready property to fit your needs. Contact him today to get started.
As a veteran Arizona real estate agent, Thomas Osterman specializes in helping luxury home buyers and sellers get the most for their investments. Call Thomas at (602) 405-4052 today and enjoy a more personalized real estate experience.
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