When you’re looking for a new place to call home, you may be torn between two options; to build or to buy your next home.
If it feels like a complicated decision, that’s because it is.
There are several factors to weigh before making the final choice. Both options have their distinct benefits, as well as their pitfalls and drawbacks.
Here are a few factors to consider:
Benefits of Building a House
- Better customization
- Lower energy costs
- Lower competition with other home buyers
- Newer (and potentially more valuable) structure
Drawbacks of Building a House
- Longer waiting time
- Less room to negotiate the price
- Hidden costs
- More planning and effort required
Benefits of Buying a House
- Less time waiting to move in
- More room to negotiate for lower prices
- More transparent pricing
- Pre-established landscaping and foundation.
Drawbacks of Buying a House
- Potentially less energy-efficient
- Less flexible floor plans
- Potential buyer competition
- Outdated appliances and maintenance issues
Other Factors to Consider
In addition to weighing the pros and cons of building or buying, there are other questions you should ask yourself, including the following:
- What location are you looking to live?
- What type of house are you looking for? (Single Family Home? Multi-
- Family Housing? Mixed-use Property?)
- What size do you want your home to be?
- What features do you want in a home?
- How much can you put toward a down payment on a home?
So, Which Option is Better for You?
All of this may seem like a daunting decision, but thankfully you don’t have to make it alone.
I’ve been working in both home construction and real estate for over 25 years. I know what makes a house great and what potential pitfalls to look for.
Whether you are looking to build or to buy a house, I can help you find or build the perfect home for you.
Contact me to learn more, or call me at (208) 401-4066!
