Monday, January 24, 2022 / by Capprice Kitchen
Investing in a new home can be an overwhelming process all on its own, then add in trying to figure out if you should buy an existing home or build a custom one into the mix and your anxiety levels will soar. So, I’m here to help make that decision a little easier by giving you the pros and cons of each!
Pros & cons of building a new home ??
* You have control over the design.
* You can customize any aspect of the home to ensure it both reflects your taste and fulfills your needs.
* You won’t have to deal with competing buyers over the house itself — once the land is yours, you’re set!
* A newer home = less ongoing maintenance costs.
* You don’t have to worry about toxic materials that might be found in an older, existing home.
* It can be more environment-friendly since newer homes are typically built with energy-efficiency in mind.
* Unexpected costs might come up during the build.
* Requires a lot more effort and time.
* It can be very stressful.
* You’ll have to landscape from scratch = more costs.
* Before you can even start building on your new plot of land, you’ll have to prepare it, including preparing utilities and having a road built onto it.
Pros & cons of purchasing an existing home ??
* Less time waiting for construction.
* More options available in developed areas.
* You’ll have some landscaping already done for you.
* You always have the option to renovate the home to make it more to your liking when you have the time.
* Is typically less expensive than building.
* Can be time-consuming and stressful searching for a home (working with a realtor can alleviate some of the stress involved!)
* You may run into a bidding war competing for the house you want, which can cause even more stress.
* You likely won’t find the exact floor plan you’d like and will need to compromise on some features.
* Older homes have more maintenance issues and are less energy-efficient.
Want to talk through your options? Contact me and let's chat!