Should You Buy or Build A New Customized Home?

When you think of having a new home, you need to decide whether to buy or build a home. There are advantages and disadvantages associated with both, but going through the pros and cons that can help you decide if it is good for you to buy a home or build a home. Before you make the decision, there are certain things you need to know.

Advantages of Building a Custom Home

• Discounts on materials – You can ask for discounts when working with suppliers. Also, you can get more discounts when you buy more. You can expect around 10 % discount on lumber and millwork. Additional savings can be expected on lighting fixtures.

• Design control – When you build a home, you can make sure everything is planned from the beginning, so you don’t have to spend extra money redoing the home after you buy it.

Disadvantages of Building a New Home

• Time – It can take around 5 to 6 months to build a home. This is a long time and things can change while you are waiting to move.

• Limitations – You may have to limit the style of the home within your price range. You may also find out that making a lot of changes to the design can be expensive.

Advantages of Buying a Home

• Ability to move quickly – In many cases, the buyer can move in the house immediately after closing. So, you don’t have to worry about a wait time or look for temporary housing.

• Easy to visualize –  Are you able to see the floor plan and the layout of the pre-existing home? When you build a home, it can be difficult for you to visual the layout and ensure that you will be able to afford and build a home that you have dreamt of.

Disadvantages Of Buying a Home

• Being stuck with the layout – It will not be easy for you to change the floor plan or layout of a preowned home.

• Upgrade costs – When you move into a pre-owned home, you will have to spend a lot of money and time in upgrades. Even simple remodeling will cost you a lot.

No matter what option you choose, you will have to make a huge investment. It is better to take advice from professional home builders as they know what’s best for you analyzing your budget and preferences.