Building Versus Buying: What You Should Know About Building a House
Are you trying to figure out if you should be building versus buying? Read this article to learn what you should know about building a house.
When it comes time to move into your next house, you have several options available to you. For example, do you want to buy an existing home or build a brand new construction home?
While you may immediately lean one way or the other, you’ll want to do a little research first to make sure you’re making the most educated decision. Do you know the pros and cons of building versus buying a home?
If not, you’ve come to the right place. Keep reading for our quick guide on building versus buying.
Building a Home Pros
Building a home appeals to many future homeowners. When you build a home, there are a lot of perks that other homebuyers don’t get to enjoy.
Customization
First, building versus buying a home means you get to play a large role in the design process. You get the unique opportunity to customize your home exactly how you want it. You can choose everything from the floor layout and materials used to where each outlet is placed.
Sole Ownership
Additionally, when you build a home, you don’t have to worry about previous owners. When you buy an existing home, the truth is, you’re using someone else’s shower, toilet, kitchen, etc. You’ll be walking barefoot where somebody else has walked barefoot for years.
Energy Efficiency
Brand new homes are built with the most modern materials and outfitted (typically) with new appliances. Building versus buying a new home means you’re getting energy-efficient electronics and building materials designed to lower your energy costs.
Warranties
Finally, brand new homes come with varying homebuilder warranties that cover the structure and major appliances of the home for years to come. You don’t have to worry about any hidden damages or issues. Search “new home construction near me” to see what your local home builders offer in terms of warranties.
Building a Home Cons
To be fair, however, there are cons of building versus buying a home as well. It’s up to you to decide if it’s worth it or not.
Cost
When you build a house, there’s a lot less room for negotiation. You’re buying a product from a vendor, rather than buying an existing home from a homeowner. While you can compromise on what features you want, you won’t be able to talk the contractor down on their prices much.
Also, like any product, brand new will always be more expensive than used in terms of relatable size, quality, location, and more.
Time
It takes an average of seven months to build a brand new home. However, financial issues, building setbacks, and inclement weather can all delay the process. Whereas buying a home can usually be accomplished in 45 days.
Decision Making
Finally, there are a lot of decisions to make when building versus buying a home. No matter how much you leave in the hands of the builders, there is still going to be a menagerie of questions you’ll need to answer.
The stress of building a new home and making decisions is often said to test the strength of a marriage. Make sure you’re ready for the process.
Looking for More Information on Building Versus Buying a Home?
If you’re still on the fence about building versus buying a home, we can offer more assistance. Check out the rest of our articles on real estate before you go. Good luck in your search and remember to take your time with all of your decisions to avoid buyer’s remorse!
