Building VS Buying

The decision to buy or build a home is a big one.  There are many factors to consider-and many of them involve lifestyle decisions.  We compiled a list of pros and cons to consider.  

BUILDING

The Pros

• Always wanted an office nook in the kitchen? Or a Mountain view from your shower? If you build your home, you will have plenty of options to customize everything from the paint colors to the closets.
• Say goodbye to weekend renovation projects. With a brand new home all the work is done for you. There will be no bathroom remodels or kitchen backsplash projects for you on the weekends.  Moving into a newly built home means you can pack away those paintbrushes and hammers. At least for a couple years.
• If you want to keep up with the trends, new construction is the way to go. Say hello to open living spaces, charging stations and all the latest technology.
• New construction materials are making homes much more energy efficient than their older counterparts. Improved energy efficiency means lower utility bills for you.
• Your honey-do-list just got a little bit shorter. One of the biggest benefits of a brand new home is you won’t have much maintenance. With brand new appliances, heating and plumbing, you won’t have to worry about repairs for at least a few years. 

BUYING

The Pros

• If you decide to purchase an existing home, you don’t have to make all the upgrades and decisions at once. Gradually doing upgrades and renovations as you live in the home helps you to cut down on the up-front costs and pressure that you would face if building a home.
• Depending on the real estate market, you may have a bit more wiggle room when it comes to the price you pay for an existing home. You can often negotiate not only the price but other factors such as closing costs, appliances and other contingencies.
• If time is tight, purchasing a home will be a better option for you. The building process can take months, and there are often more than a few delays. If you purchase a home, you will be able to move in immediately after closing. You won’t have to worry about finding temporary housing or dealing with unexpected wait times.
• When you build a home, it can be difficult to visualize the layout. This may be a small inconvenience or a very big deal if you wind up unhappy with the way your home turns out. The plus side to purchasing an existing home is you are able to see every nook and cranny so there is no question in your mind whether or not you will be happy with the floor plan.

Click here for the full article and to read the cons of buying and building a home.