Buying or building a home – what’s the right decision?
Are you finally ready to settle in? If the answer is yes, then congratulations! This is a big decision. But, bear in mind that this decision is going to cost you a lot, not only your money but your nerves and time as well. Based on your needs and your budget, you will first have to decide whether you will buy a home or build one. Both choices come with a lot of advantages and disadvantages. In the end, it all depends on your preferences. However, if making a decision is really hard for you, let us help you out. Keep on reading if you want to find out all the pros and cons of both buying and building a home for you and your family.
Buying a Home
As previously said, buying a home comes with many advantages and disadvantages. So, let us mention a few of the most important ones and hopefully help you make your decision.
It Is Much Faster
Well, it goes without saying that buying a home, either a house or an apartment is a much faster solution than building one. You only have to look around, attend a couple of open houses, and then finally make a decision. Buying an already built home is definitely for those who do not have the nerves to wait, or for those who simply have to find a home instantly. Let us face it, the whole process of finding a home can last a couple of weeks only, and in order to build one, you will need probably even more than a year.
Less Stress
Another thing that is great about buying a home is that it is not as stressful as building one from scratch. You do not have to wait as much, deal with builders, equipment, products, and similar. The good thing is that you have an already finished product, which does not require any work whatsoever. The only thing you need to do is to see whether you can imagine your life there. If yes, then all that is left is to find a moving agency like whateverittakesmoving.com and relocate to your new home.
Established Neighborhood
When you buy a home, a house or an apartment, that is move-in ready, you are most certainly moving to an established neighborhood. All your neighbors will be there to welcome you and throw you a welcoming party. Moreover, you will be able to settle in immediately, as there is no work going on. However, this is something you can not do when building your own home. You will have no neighbors nor an established community and you will be surrounded mostly with construction noises and builders. But if you buy a home you will know what to expect from the start.
No Custom Approach
And now, let us talk about some bad sides of buying a home. Probably the biggest disadvantage is that there will be no custom approach. Nothing in your new home will have your mark on it. But, many people do not see this as a problem at all. They simply compensate that by adding their own furniture or renovate using their own home decoration ideas.
Renovation Is Required
If you thought that when buying a new home, you will just need to bring your things, unpack, and clean a house quickly, well, you were wrong. There are probably going to be a lot of things that need to be fixed. And, it is very likely that you will like to replace some of the things from the previous owners like the bathroom tiles or kitchen cabinets or simply repainting some rooms.
Building a Home
So, after we have mentioned some of the biggest pros and cons of buying a home, let us do the same with building one.
You Will Have a Custom Approach
It goes without saying that the most important reason why people build their own homes is the fact that they need something unique and completely different from what is on the market. Everybody has different wishes and desires when it comes to their home. Some people want bigger bedrooms, some want smaller bedrooms but lots of them. The possibilities are endless. But that is the point of building your own home – making it just perfect for you and your family.
It Is Complicated
Building a home is not an easy task to do! It is actually a really hard and complicated process that involves a lot of house building plans, hiring contractors and builders, and nonstop buying construction materials. There will be times when this process will seem like a never-ending one, but it will be worth it. Just make sure to find the right people for the job and to invest in good quality materials for your future home.
It Is a Long Process
Well, another disadvantage of building your own home is the fact that it is going to last for a long time. Even the process of planning is a long one. You will have to hire an architect, construction workers, and many other people. Usually, the entire process lasts for approximately one year. So, if you have time and patience to wait that long for your future home, you should definitely do it. It will be worth it later on when you end up living in your dream home.
Jack Lutz is a long-time real estate expert. For the past two decades, Jack has worked for a large real estate company and he is an expert when it comes to investing in rental real estate. Currently, he lives in Brooklyn with his stay at home wife and two daughters. On the weekends, he prefers to spend time with his family, since on workdays he works long hours. Jack’s plan is to invest in rental real estate and retire early.