Building a brand new home that’s specifically made for you is incredibly appealing. While customized homes are a great option for creating your dream home, sometimes this comes at a steep price. Purchasing a pre-existing home may save you money, but it can come with various unexpected costs that quickly add up. The reality is that there are plenty of pros and cons to building your own home from scratch. Continue reading to dive deeper into these potential advantages and disadvantages.
Arguably the biggest pro for building your own home is that you get to customize practically every part of the home. You’ll get to explore floor plans, specific amenities, new home designs, and all of the modern specific touches that you’ve always dreamt of. There are many tips to search for when looking for a builder. You’ll want home builders who are reliable, experienced, efficient, stress-free, and approachable.
In addition to these five must-haves, your builder should also have a comprehensive understanding of trending designs, functionality, quality, comfort, and your overall vision. Don’t fret: there is a home builder out there who will mesh all of these must-haves to build you the house of your dreams. This way, your home design will shine, allowing the significant benefit of building on your own to come to fruition.
While the one-of-kind design is a pro for building a new home from scratch, one of the cons is that these building materials can be quite costly. This past year, lumber prices have soared beyond the normal average, leaping up to 340% more costly than in 2020. With this factor in mind, it’s important to note that building your home means buying all of the materials to construct it.
During a home build, you’ll need materials like drywall, gypsum, lumber, and concrete. If these materials are costly, your home build price tag will follow suit. Considering these costs may be a make or break for some families if they can’t afford to dish out the extra costs for fluctuating materials. However, if you can afford the costs, then this con won’t be a determining factor in your buy or build decision.
Another pro for building your home is that it’s likely you won’t encounter as many unexpected costs. Don’t bank on everything going exactly according to plan because surprises still come up during a build. When purchasing a home, you simply never know if various systems may break or need fixes after inspections. So, it’s a huge benefit to know that new homes are built to meet current construction codes.
This usually means that a new build will have a modern HVAC system that won’t need immediate repair, various technologies and materials that are energy-star rated for energy efficiency, and properly maintained exterior parts like the roof or siding. For all of these reasons, it’s a smart idea to build a home if you find those potential maintenance costs outweigh your temporary peace of mind.
They say patience is a virtue, and they’re not lying when it comes to waiting for your home to be built. Arguably one of the most frustrating parts of building your own home is waiting for it to be completed. Typically, it takes anywhere from three to six months to build a new home. However, this timeline is contingent on everything going according to plan from start to finish.
To put it lightly, you’ll have to stay patient and trust the process when committing to a home build. If this patience doesn’t drive you crazy, and you’re not on a time crunch, then deciding to move forward with your new build selection is still a viable choice for you. No matter which route you decide to go, remember that deciding to build or buy is the first step towards achieving your dreams as a homeowner.
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