Whether you’ve finally landed your dream job and you’re ready to settle in nearby or you’ve simply outgrown your current home, how do you decide if you should build a house or buy an existing home? It depends on your priorities, your long term goals, and the cost to build a home vs. the cost of buying a new home in your area. Here are a few signs you might be ready to build.
Signs you’re ready to build a custom home.
You’d rather spend up front and save money on home improvement.
The hidden costs of maintenance in older homes can unexpectedly cost thousands of dollars. From changing paint colors and replacing old appliances to correcting foundational issues, you’ll want to factor maintenance costs into the bottom line of buying an existing property.
When building a home, you get to choose the design, floor plan, land, and appliances from the start, meaning you can factor in those costs before starting the building process.
You’ve outgrown your current house.
Sometimes adding more square feet just doesn’t cut it when you’ve outgrown a house. If you have a large family, enjoy entertaining large parties, or just need more space to host a few friends, why not design a floor plan that works for your lifestyle, optimize each square foot, and build a home that will work for you now and in the long run?
You know exactly what you want and don’t want to settle.
Have you been searching for a home and just not finding what you’d like? Is there something that’s just not quite right about every open house you’ve visited? Is your real estate agent tired of suggesting it’s time for you to compromise? If you know what you want, then it might be smarter to build it.
You’re thinking about the long-term investment and resale value.
Sometimes building doesn’t offer the upfront convenience of moving into an existing house, but if you ever sell your home down the road, a newer house is more likely to bring in a higher return when you sell.
You’re doing your research.
Have you planned and set a realistic budget?
Have you realistically considered the commitment required to build or buy a home?
Have you researched custom home builders in your area?
That you’re even considering building a home instead of buying indicates that you know you’d rather have the freedom to design your dream home instead of trying to make someone else’s house fit your lifestyle. When you decide to build, be sure to research the best home builders in your area and partner with a company you trust.