Building A Custom Home vs Buying A Pre-Existing Home
Build or Buy? – a question as old as time. When looking for a new home, there are two main options, buy a pre-existing home, or build a custom home. There are benefits to both as well as important factors to consider before making a decision – we’ve broken down a few of them below.
Building a custom home is a long and rewarding process. When building a custom home, the client is selecting what they want and where they want it. From floor plans, to windows, the client decides and builds exactly what they want.
With a custom home, the client is the first person to make the house a home. All the appliances are new, the floors are new, the paint is new, and the whole house is brand new. There are no costs of upgrading, no worry of needing inspections, and no hidden costs (potentially quite expensive) that may come up in the future.
Everyone is different and has different likes and needs when it comes to a home. Building a custom home provides flexibility to do whatever you (the client) wants. No need to worry about adopting a space and figuring out how to make it work for you, everything in your custom home is built tailored to your needs. When building a custom home, you have the chance to show-off your unique style and make your home, quite literally, one-of-a-kind.
HEALTHY & ENERGY EFFICIENT
As all things in life, home building is becoming more and more advanced and efficient. Materials are becoming more environmentally friendly and safer for use than they were 20, 30 or 50 years ago. Many homes in our area were built over 40 years ago and may contain materials that are toxic to people, such as lead based paint and asbestos. With a new custom built home, there is no need to worry about such things, because all materials are new and safe on the most up-to-date standards of home building. Custom homes are more energy efficient than most pre-existing homes (other than new construction “spec” homes) and allow clients to be more environmentally friendly while lowering their energy bills.
If building a custom home is too long and complicated a process, then the best option is to buy a home. Buying a home is the more “traditional” way of owning a “new” home. There is nothing wrong with buying a pre-existing home, and for some people it makes way more sense financially and life-style wise. Below are a few benefits to buying a home.
Contact your real estate agent (if you don’t have one, we suggest using these guys: Chaffey Real Estate Team), figure out what kind of home you are looking for, go tour them, see which one you like most, put in an offer and move in. Straightforward and simple. Shopping around for a home can be done in a matter of weeks, where building takes months, if not years – depending on the scope of work. For some people, visualizing something that does not yet exist is difficult. Being able to see the home, exactly where it is and where it sits may be a comforting feeling to a buyer. There are also significantly fewer decisions that need to be made when buying a pre-existing home.
LOCATION, LOCATION, LOCATION
Pick a neighborhood or a city and search for what’s on the market. Whether you need to be close to the office, or a particular school, purchasing a home is an easy way to plant yourself exactly where you wish to be. No need to worry about finding land or buying a home that is falling apart with the intention of building on it.
Depending upon the home, it may be more cost-efficient to purchase something that is already built, than building your own. Seeing a house for sale means that it has a set price (which may be negotiable depending on the local market, the agents involved and inspection report) and allows you to see what kind of homes are within your budget.
WHICH ONE IS BETTER?
There is no blanket answer that covers all people when it comes to building a custom home vs buying a pre-existing home. Depending on a person’s needs, they should figure out what makes the most sense. If customization and design are the top priority, then building a home is more likely the better option. If speed and cost are a concern, purchasing a house is likely to be the better option. If you are someone who is torn between the two and could go either way, we highly suggest reaching out to a builder to see exactly how the process goes relative to what you would have envisioned. A great custom home builder can make the process simple and fun all the way through – reach out to us if you have any questions when it comes to building a custom home!