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Sunday, June 1, 2014

Building a new house vs. buying a ready-built house


The question many people in the market for a new home face is whether to build a new house or buy one that is ready-built. There are benefits to both choices. Building a house from the ground up allows the owners to be in on the design, to help with decisions, and add personal touches. However, building can cost a great deal more than buying a house that is already finished. Read on to consider whether buying or building is the better decision for your lifestyle and budget.
 
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Building from the Ground Up
Creating a home from scratch is a daunting task. Many decisions go into such a project, as well as a great deal of time and effort. Construction of the home is only the first step. Multiple inspections are required, codes need to be followed, and the cost of labor can be expensive. Decide upon a budget before building starts, create a plan and set progress benchmarks. Be prepared for extra costs to spring up along the way. Damages to materials, unforeseen homeowner guidelines, and neighborhood association rules are a few examples of potential obstacles that owners looking to build their own home are confronted with.

Building allows for customization, and is often chosen by families with higher incomes. If going green is important, building a home is an appealing choice, as the homeowner can choose the materials. If budget is not an issue, environmental awareness can be achieved by selecting supply companies that use recycled materials and clean energy sources.

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Buying a Ready-Built House
Purchasing a house is a more practical option, as it allows the homeowner to save both money and time. While buying takes away some options of customization, in many cases, it means the home is available to move into upon completion of the purchase. A few inspections, a fresh coat of paint, and the deed is done. Buyers of ready-built homes do not have to worry about purchasing necessary appliances such as refrigerators, ovens, and stoves. Appliances are included in the price of the home, meaning buyers do not have to deal with the inconvenience of shopping and installing them. While buying a house can certainly be stressful, it is a great deal less stressful than building a house from scratch.

While both options have advantages and disadvantages, the fact of the matter is, buying a ready-built house is far less expensive. Not only are there fewer hidden costs, but also many of these houses are actually sold for less than it cost to build them.  If budget is a consideration, visit with a real estate agent and explore a few ready-built homes for sale in the area.

Whatever the motivation, explore both options carefully. If you choose to build a home, don't be afraid to sit down with a construction company and ask for a list of costs, or even a quote. In determining whether to buy or build, visit open houses and check out designs in homes that are for sale. Choosing to buy or build a home is a difficult decision, and it’s important to consider the amount of time, effort and the amount you are willing to spend before deciding.


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