Is It Cheaper to Buy Or Build a House?

After years of working hard, you become financially stable, and decided to buy your own space which you can call your home. But then your mind is split whether you’re gonna buy a readily constructed unit or you’re going to have it built.

Readily constructed houses

Most new home buyers like the convenience offered by pre-constructed or existing homes. After the lender’s pre-approval, you’re ready to browse through many options. You can then prepare your shortlist and trim it until you’re left with the best option according to your preferences. After which, you can make your offer.

If you’re somehow confused with the options you see, real estate agents can help with an easier flow to pick the best existing home for you. They can assist you with negotiations. They can also help you with the associated paperwork.

In general, offers made for existing homes are closed in two months. Then, you can conveniently move in and start a new chapter of your life.

In many cases, costs of existing homes prove to be lower than having to build one from scratch. However, this may not be true at all times. Costs are still dependent on several factors such as location.

Another advantage of buying an existing home is the opportunity to belong to an established community. With this comes associated advantages of being near schools, lifestyle centers, and government centers. There is also a high chance that an existing home has already a preset for a grown landscape for gardens or lawns. You’ll not have to worry of the task of growing plants and ornaments.

However, there are some drawbacks with existing houses. Because they are readily made, you have to settle with its features and how the house parts are constructed. You may want to have a master’s bedroom having separate comfort room and bathroom. You may want a large kitchen, but what’s available is one with a smaller size than your preference.

Building your own house

Because of the complexities of getting functionalities matched, there are also new home buyers who prefer to build their own homes. You can carry out your own designs and have the house parts constructed according to your exact needs. However, the task alone of finding the land where to construct it is already daunting. But of course, if you have the patience and enough will power, you can find one which suits your choice of area. This means you can opt for a land which offers an overlooking view or perhaps one in a beachfront.

A new home can also prove to be more efficient in energy usage. This is because, the construction has to comply with new energy efficiency codes.

New homes may also prove to be healthier than existing homes. It can be constructed with materials that are safe for your family’s health. It can be made free of molds, asbestos, and lead paint.

The biggest drawback to new construction homes is associated with their costs. They are generally higher in price than existing homes. You have to spend for the construction materials, labor, furnishing, and other extra costs. You also have to wait longer before you can move in. But, you can have a deeper sense of satisfaction after it is constructed.

Whether it is an existing home or a new construction home you want to become your home, real estate agents in your area can always extend assistance.