When you’re in the market for a new home, you have to weigh your options. Should you buy an existing home or have a custom one built? There are pros and cons to whatever decision you make. Before you commit to one or the other you have to carefully consider what factors in a home that are most important to you.
New construction allows you to get involved.
As long as you get in on the ground floor, you can be as involved as you want in the process. A custom home builder in Raleigh for instance works with clients from conception to the finished product, keeping them informed of the progress being made, apprising them of weather delays, and monitoring the budget to ensure the project is completed within the agreed upon purchase price.
When you purchase an existing house all the big decisions have already been made. You are taking over someone else’s idea of how a living space should be used. This is a good idea for those who find the responsibility of overseeing a building project an overwhelming prospect.
New construction allows you to customize.
Building a new home allows you to customize the house to fit your specific needs. Clients who are seniors and clients with special needs family members can customize homes with wider than average doorways and halls to accommodate walkers and wheelchairs. Homeowners who love to cook can choose the kitchen configuration that works best for them and can upgrade appliances if they choose.
When you’re looking at existing homes, you may not find anything that completely meets your needs. You are more likely to settle for something that is as close as possible to your expectations. Even if you purchase an existing home with the idea of renovating you can expect to pay anywhere from $17,000 to $69,000 or more according to Home Advisor, and there will still be constraints that limit what you can accomplish.
New construction allows you to take advantage of the latest technology.
When you purchase a custom home you don’t have to worry about repairs. There will be warranties guaranteeing workmanship and parts for a certain period of time. New homes are constructed with more energy efficient materials, appliances, fixtures and heating and cooling systems. This translates into savings that will be substantial over time.
Older homes were not built with energy efficiency in mind. New owners may face replacing roofs, wiring, plumbing, and other expensive repairs that require a home improvement loan in addition to the monthly mortgage. Adding sophisticated security and audio systems are major investments when you purchase an existing home without them.
New construction takes time and patience.
New construction takes an average of seven months to complete according to the Census Bureau. Weather conditions and other unforeseen factors can increase that number. You may have to rent while you are waiting for your house to be completed.
For many buyers the time factor is what makes them choose existing construction. They have the ability to make an offer on a piece of property, close, and move in within 30 to 60 days.
New construction allows you to purchase a quality product at a price you can afford.
Purchasing an existing home is a leap of faith in many respects. You will have the property inspected prior to purchasing so that you know in advance if there are any material defects. You won’t necessarily know the quality of the workmanship that went into the building unless it is obviously shoddy or noticeably superior.
When you’re involved in the construction process, you know just what caliber of materials have gone into the job. You can see first hand knowledge, experience, and craftsmanship exhibited by the crews working on your home. You can make handcrafted design decisions giving you one of a kind features that make your home unique.
