Is it better to build or buy a home? A home is a sizable investment, perhaps one of the largest in your lifetime, and you want to ensure you are investing well. Both buying and building have benefits and drawbacks to consider. Here's what you need to think about as you make this decision.
When you buy a home that's already been built, you have some benefits. First, the home already exists, so as soon as you can arrange financing and set a date with the seller you can close on the sale. You will not need to spend months waiting just for the home to be completed. Buying an existing home often costs a bit less. In addition to not having construction costs, you will not have to pay for landscaping, a deck nd many extras you will want in the home.
One major drawback to buying is that you are not going to have everything in the home just the way you like it. Often you will want to put in new flooring, paint the walls or remodel in some way. The costs of these changes may offset the savings you get from buying an existing home. Existing homes almost always need some sort of renovation. You may struggle to find exactly what you want, especially with older homes. For example, modern families often need more than one bathroom but it's not uncommon to find an older property with four bedrooms and just one bathroom. Great rooms are popular today but uncommon in homes built in the 1970s or earlier.
The key benefit of building is the ability to customize the home. You can get exactly what you want including the floor plan, flooring and paint colors, and even exterior look when you build. You have the freedom to choose every element in the new property as long as it fits within your stated budget. Building also means you can improve the efficiency of your home. Adding smart home features in during the building stage, like choosing eco-friendly appliances and HVAC systems, means you won't have to install them separately later. You can also choose sustainable building materials.
When you move in to a newly built home, the home is fully yours without any prior damage or dirt. You are the first people to walk on the carpet and use the restroom. You are the first people to put things on the wall. Also, most newly built homes come with a builder's warranty. If something does go wrong you may be covered for the repairs.
The main drawback of building is the higher cost. Freedom to customize often makes it more difficult to stick to your budget. Financing can be difficult to obtain, and building often takes more time. You will need to have good financial standing and patience.
Overall, if you have the freedom of time and are not on a super tight budget, building gives you greater flexibility and freedom to get exactly what you want. If you do not have time or extra money to spend, then buying may be the right choice.
“I sell your home like it's mine”
A licensed real estate salesperson since 2016, Rob is affiliated with the Briarcliff Manor office of Corcoran Legends Realty. He serves buyers, sellers, renters, in Westchester, Rockland, and Putnam counties. Rob, a native of New York and Westchester County for most of his life, brings an extensive local knowledge of both residential and commercial properties to the table. His experience includes a wide range of property types – single-family, multi-family, condos and mixed use. “Hard to sell” properties is where Rob really excels. “There’s no problem that cannot be solved.”
Rob is certified for many different disciplines in real estate. Cartus Relocation Network Agent, AARP Agent, National Tenants Network (NTN) Agent, Green certified and Pricing Strategies Master. In addition, Rob has completed the Leader’s Edge Advanced training to better serve his clients. Rob has been both associate of the month and top closed dollar agent.
When you work with Rob, you get the feeling you’re his only client. Numbers don’t count, you do. Clients always come first. Each transaction is handled as if it were his own home. Rob strives to make the process as seamless as possible and takes care of all the details, no matter how small. His clients rave about his above-and-beyond service and prompt informative communication. Rob is easy going, friendly, and patient. However he can be a determined and aggressive negotiator when the need arises.
When not out actively working on behalf of his clients, Rob spends time with his wife and two teenage daughters. A devoted supporter of community he sits on several local boards and volunteers for numerous locale nonprofit organizations. He enjoys cycling, hiking, kayaking and winter skiing.
“May your price be right, and your sale be swift!”