Are you confused about whether to build or buy a house? There are some important things to know before you make this important decision.
By the end of this article, you will find it easier to decide whether you should build or buy a house.
You might be surprised to know that people often spend years debating home buying vs. home building.
So, let us go through some basic concepts that will make things easier for you.
What is Your Budget
One of the biggest determining factors between buying and building revolves around the cost. Countless things are involved, such as finish level, square footage, location, material quality, you name it. Let us put things straight: the cost to build a house will be higher than purchasing a similar home on resale. Just think about all the parts of home construction, such as the crane rental.
When you build a house, you will be getting nearly everything new, such as a brand new foundation and brand new structural systems, and all your finishes. You rarely get a warranty with a resale home.
The second determining factor of the debate is buying vs. building your house revolves around customization. Typically, when you buy a resale home, you pretty much sign up for what you see. Minus the large renovation, you are buying the layout, the location, and the home style that was originally decided by someone else – long ago.
The layout can be perfect or slightly off, but it can also be not right at all. The essential benefit of building your house from scratch is that you become able to choose things related to the structure and everything else your way.
The truth is that there are loads of people who don’t know what they want until they see it, which is why it is a great idea to hire a professional expert to help you with the design of the house. For those who know exactly what they want – or how exactly their home needs to be according to their lifestyle – it is better to build a perfect layout for them.
You will find more building lots out in new subdivisions than in already-established neighborhoods for obvious reasons. The only problem with new developments is exactly what it sounds like – they are new!
You are less likely to find new trees but will be greeted with construction all the time. Besides, there won’t be much culture or a sense of community. Besides, until the developers include some amenities nearby, you might be miles away from any shopping centers, doctor’s clinics, and so on.
You might also require longer commute hours to your workplace, which can be a real nuisance in the long run. By buying in an already established neighborhood, you are ideally better located within the city – you have more trees, community centers, shopping places, and schools nearby.
It is instant gratification that matters to most people.