Should I Build or Buy a House in Boca Raton in 2023?

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Boca Raton is one of the most beautiful places in the country. Sure, it’s an affluent place, but why do you think that is the case? Why would people with the means to live anywhere on the planet flock to this slice of paradise? The answer is simple – the place is worth it.

Now that we have the question of whether it’s worth it let’s figure out the best way to permanently move to Boca Raton. Should you buy or build a house? Let’s find out!

How much does it cost?

A new construction house in Boca Raton, FL, is rather steep. According to some estimates, the average end price will be around $1.5 million. However, building a new home and buying a new construction home are two different concepts. On the other hand, a mansion in Boca Raton can cost as much as $25 million.

Just keep in mind that Boca Raton, on average, tends to be 28% more expensive than the national average, and it’s considered one of the country’s most affluent parts.

Technically, you can get a home for as little as $110 or even $60 per square foot if you build it yourself. However, a frugal or tiny home may stick out in Boca Raton. In other words, if you targeted Boca Raton as your target destination, chances are that your ambitions are substantially higher.

The problem with comparing costs lies in finding equivalent housing. So, you need to have a specific home in mind, check the cost, and then calculate how much it would cost to build a similarly-sized home. For this, you should check out a few trending Boca Raton real estate venues and make this comparison.

What permits do you need?

Since Boca Raton is famous as a popular residential location in the US, preparing your lawful paperwork is simplified as much as possible. All you need to do is:

  • Pick the template from a catalog.
  • Fill in all the information. Here, you have the option to drag and drop to make things even simpler.
  • Check it once more to ensure no missing information or typos.
  • You don’t have to sign in person since you can add a digital signature.
  • Just click done.

Once you’re done, you need to save the document and wait for the response. It might take a while, but most people are pleasantly surprised at how speedy the entire process can get.

One more thing important to mention is that Boca Raton has a virtual inspection program, which allows you to speed up the process.

Preparing and first stages of building

If you decide to build not buy, building a house anywhere in FL, you must be aware of potential hazards and prepare the site accordingly. Sure, the usual preparation requires you to figure out where the power lines, gas lines, and sewer lines go, and you need to ensure that you do this in agreement with the law.

At the same time, you need to think about the foundation. Flooding is one of the most frequent hazards in Florida, and Boca Raton is on the coast. Moreover, people who have lived in FL for a while know that flooding can occur at any time of the year. This hardly comes as a surprise for a state surrounded by an ocean with more than 1,700 lakes (as well as a considerable percentage of land under swampy terrain).

A concrete slab foundation is the best type for the warm climate and soil conditions in Boca Raton. The thing is that you don’t have to make a new home to ensure a concrete foundation. This is standard practice, and even real estate dating several decades back is bound to have a concrete foundation.

Green energy potential

Regarding eco-friendliness, it’s worth mentioning that your power-hungriest application will be your HV/AC. Sure, your heating expenses are non-existent, and you don’t have to waste money on winter clothing, but your AC will work all year round.

Fortunately, there are a few ways to make your home energy-friendlier. First, you can decrease the cold air loss by installing quality windows and proper insulation. If you’re buying a home, focus on these aspects.

Second, Florida (and by natural extension Boca Raton) has one of the best potentials for solar energy. Based on some estimates, a 7.6 kWh solar system can pay for itself in 6-8 years. Just a while ago, and depending on the region, it was estimated that it would take solar panels up to 17 years to pay themselves off.

The advancement of this technology is incredible, and Florida is one of the best places to take advantage of this. The only other areas that could compete are California, Arizona, and Nevada, which is currently the home of the world’s largest rooftop solar-powered plant.

Keep this in mind regardless of what you’re building or buying. Just remember that there are no statewide solar panel rebates in Florida. This is why it may be simpler to look for a property with panels.

Another thing worth mentioning is that Floridians are exempt from paying the 6% sales tax on solar panels.

Wrap up

In the end when it comes to build or buy, building a house in Boca Raton can be incredibly expensive, provided you want a place that fits the neighborhood. Since you will probably have to hire a skilled architect and look for a construction company capable of pulling this feat off.

On the other hand, getting a permit is really not that complex, and the practices for building a sturdy Floridian home are common knowledge.

Considering that you have the funds, buying a place is probably simpler. Most homes in Boca Raton are more than decent, and the range of prices almost ensures that you’ll find something you can afford (even though the area is seen as affluent).