Buying a new home is a difficult process that can put a lot of unnecessary stress on potential buyers. Should you buy a home that you can grow into or should you start off with a starter home? Should you seek out an existing home or attempt to build your own? These questions and many more are constantly swirling in the minds of consumers. So what exactly are the advantages of buying an existing home versus building your own assuming you have the funds to do either one?
Advantages To Buying Existing Construction For A New Home
- Can Save You Money
- Can Save You Time
- Allows You Access To Developed Neighborhoods
Can Save You Money
It is estimated that the average new home build is usually 30% more expensive than purchasing an existing home. This is largely because the size of new homes has been trending upwards, plus, you will have to pay to fully furnish the new home once it’s completed. Buying an existing home can save you thousands which can be put towards other expense you may have.
Can Save You Time
Buying an existing home is an instant process once the closing occurs. This means more time spent in your new home and less time waiting for it to be built. With all of this extra time and saved money, you will have the opportunity to make minor changes to the house to better match your style.
Allows You Access To Developed Neighborhoods
New construction is usually built further away from existing homes which means access to more developed areas may be limited. Buying an existing home allows you to already be close to things like schools, parks, grocery stores, and other necessities.
Advantages To Building Your Next Home
- Customize To Your Standards
- Home Energy Efficiency
- Writing Your Own Story
Customize To Your Standards
A great benefit to building your own home is that you get exactly what you want as long as you’re willing to pay for it. With existing homes, you have to work around preexisting infrastructure in the home which can pose an issue. The key to lowering costs when fully customizing a home is to find the right builder. They will aid in keeping costs down where possible and giving you realistic expectations for how much your dream home will truly cost.
Home Energy Efficiency
Newly built homes are almost always far more energy efficient than their predecessors. This is because it can be built using the latest and greatest materials as well as highly energy efficient appliances. While this may raise the cost of the home initially, it will more than pay for itself over time in the form of lower energy costs.
Writing Your Own Story
Building a new home allows you to be the author of your own life story. No one has ever lived in this house but you, making this a truly unique living experience. For those who are willing to wait for the final payoff, building your own home can be an investment well worth a lifetime of memories.