So you’ve decided that you need a new home- but should you start from scratch and build a house or buy an existing home?
As you can imagine, there is a multitude of factors that go into deciding which of the two possibilities is right for you. As home builders with years of experience helping our customers navigate their construction needs, we’re here to help guide you through some of the things to consider before making any decision.
Why you should buy an existing home:
Purchasing an existing home is typically a quicker and easier process than building a new home. Although it is still a process- Figuring out the financials, getting approved for your home loan, shopping the current housing market, making an offer and closing- Once you have closed on your dream home you can typically be in your new home in 30-45 days.
It is typically less expensive to purchase an existing home than building a new one. Especially if you’re purchasing your home in a favorable market and with the ability to negotiate price.
Purchasing an existing home means you have the ability to scope out an already established neighborhood. You’ll be able to evaluate the area’s character, safety, and overall feel before moving in. Whereas if you build a new home you will typically be moving into a community that is still developing its unique characteristics.
Why you should build a new home:
Getting the home and features you’ve dreamed of
Choosing to have your home custom built means you’ll get to create the layout and features that are perfect for your life and needs. Whether it’s a modern, open floor plan, high vaulted ceilings, or the perfect kitchen for cooking and entertaining- You’ll be able to work with your local contractor to design the home that fulfills these dreams.
Due to new building codes, appliances, and systems that are far more energy efficient than their predecessors, building a new home can mean savings on your energy bill and impact on the environment.
Resale Value & Fewer Repairs
You have a better chance of facing maintenance issues if you purchase an existing home. Building a new home gives you freedom from unexpected repairs to the possibly outdated features of your home. It’s also less initial work for you- There’s no immediate DIY maintenance or renovations needed (70’s era countertops anyone?) saving you time and effort.
Your new home, with all its modern style features, energy-efficient HVAC, and curb appeal, will also increase your profits for reselling your home. A newer home is more likely to attract customers looking with today’s tastes in mind.
Let DRF Builders Help
The team at DRF Builders is happy to help by lending our expertise. Please feel free to contact us with any questions you may have about building or buying your next home.