Let’s talk about building a new home, vs. buying an existing house. When getting ready to buy a house, this is a decision that many people struggle with – do I buy or build?
So let’s take a look at the pros and cons of building a home vs. buying an existing home:
- You get to customize your own home, from scratch, exactly how you want it.
- You don’t have to worry about repairs right away, because everything is brand new.
- New homes are often more energy efficient – with new windows, new insulation, new AC, etc.
- No competitive factor, since existing homes are flying off the market so quickly.
- You can’t move in right away. It can take an average of 7 months for construction to be completed.
- There’s no room for price negotiation
- Upgrades can drive up the cost.
- It may take years and thousands of dollars to get the landscaping exactly how you want it.
- You can move in right away.
- There’s room for price negotiation.
- Less stress because there are fewer decisions to make.
- Financially, according to the National Association of Home Builders, it’s generally cheaper to buy an existing home.
- You could have possible maintenance problems.
- There are higher energy costs with older homes.
- There are some things you will have to live with unless you invest in home improvements and updates.
- Buyer’s remorse when you don’t get exactly what you want.
Bottom line – both options are valid. So let me help you choose the best option for you and your future home!