To Buy Or To Build – That Is The Question

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:

Pros of Building:
  • 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.
Cons of Building:
  • 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. 
Pros of Buying:
  • 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.
Cons of Buying:
  • 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!

Office

RE/MAX Acclaimed Properties

(812) 272-3000

3695 S. Sare Rd., Bloomington, IN 47401