The purchase of a home is usually the largest investment one will make. It is not an easy decision and for many people it can take years in order to make sure they are making the right choice. One of the first questions a home buyer will ask themselves is am I going to buy, or build? Each side has different pros and cons so let us take a look at what they are.
Should you buy?
The most obvious benefit of buying a home is the time and convenience factor. If you are eager and ready to move into a home as soon as possible, buying a home instead of building is most likely the choice you will make. Once a lender has approved you, you can shop around, pick a home that is right for you, make an offer and move in. Of course enlisting the help of an agent will also assure the process moves as quick and easy as possible.
In most cases, buying a home also has a lower cost than building a home from the ground up. Most people do not think about the added expenses of building a home. When searching for a home take into consideration the landscaping, lighting, window treatments and finishes that comes with a preexisting home. Even the grass and driveway are expenses that many people do not take into consideration when leaning towards building a new home.
Obviously, with the positives there comes the negative side to purchasing a home instead of building. Many times, you will not get the exact house that you always hoped for. Weather the 3rd bedroom is not quite large enough, or the counter tops are black instead of neutral, these cosmetic choices are the choices you are missing out on making when purchasing a home. With that being said, the cosmetic features are usually never permanent and can always be changed in the future. With an older home may also come repairs, cleaning, labor and time spent to make it perfect for you. This effort can be done over time and does not have to be rushed It is always recommended to have a pre inspection done before purchasing a home so that you do not run into any hidden surprises.
Should you build?
Many people dream about their perfect home from a young age, built to perfection with exactly what they want where they want it. These dreamers and patient people are usually the ones you will see breaking ground to build their home from scratch!
From the counter tops, to light fixtures, to appliances and wall color building a home from the ground up will involve every bit of your opinion, and two cents. The result of this involvement will be a dream home with all the bells and whistles. You can move right in without lifting a tool. Not to mention you can rest easy with the knowledge that your brand new home will be healthy and safe to live in.
As this all sounds amazing, but there also comes the downside to such a beautiful result. Sure you get to pick out the appliances and wall color, but first you must find a plot of land, in the right (and available) neighborhood. Permits must be made and approved in order to break ground and even get started on the decorating process which in perspective could be months away. Building a home from the ground up can take anywhere from 6 months to over a year. In most cases, you are taking a huge gamble that depends on weather, your builder, contracts, and simply luck.
The cost is also a large unknown factor in the process of building a home to your perfection. When purchasing a home you see the sticker price with usually little to no surprises. Building a home involves some more wiggle room with your budget in case you choose the more expensive granite, or decide to throw in a fireplace in your living room. There are many ways to avoid a building disaster by checking in on references of builders and covering your bases to make sure you are working with a dependable company.
So, Should You Buy, or Build?
The answer is completely up to you. It is clear that the decision to buy or build a home depends on your individual desires, goals, schedule, and financial status. Each option has its own pros and cons. If you are ‘pro’ building- a great way to sum up the decision is with time, patience, and lots of decisions you may end up with the house of your dreams. On the other hand if you are ‘pro’ buying- you can look at it as with an easy transaction, you can be living in a home that is perfect for you in a short period of time. You can spend all the time you want on making that home your dream. So, before breaking ground go search the market who knows your dream home may already be out there waiting for you to find it!
If you are interested in buying a home and would like to weigh your options contact a Nothnagle Agent today. Nothnagle has also collaborated with some of the top new home builders in our area. Let a highly qualified Nothnagle agent guide you through your search, and ensure that your new home is the perfect match for your budget and lifestyle. Weather you build your dream home or find it fully furnished we can help you every step of the way! Click here to read more about how Nothnagle Realtors can help you build your dream home.