If you’re looking for a new home, you might be wondering whether it’s worth building one, rather than buying one. There are, as with everything, pros and cons either way, and it will generally come down to your finances and your lifestyle. However, there are some excellent reasons for building your own home rather than buying one that already exists, and it’s a good idea to think things through carefully before dismissing anything outright. Read on to find out more.
A Brand New Home – Without The Premium
It’s certainly easier to buy a brand new home that someone else has already created, but if that never-lived-in-before feeling is what you’re looking for, it will come at a price. New build homes will have a premium attached to them, and that means that firstly, you’ll be paying more than you would for an older property (generally speaking), and, when you come to sell, you won’t make as much money as you otherwise would.
This is why some people choose to build their own home. It’s still completely new, but it will cost less because you’re not having to pay a middleman to cover the building costs; you’ll be doing that yourself. And it’s not just cheaper upfront, but over time too. The newer a property, the fewer repairs you will need to think about making. Buy an older property and you might be walking into a home that needs your help straight away.
Completely Customisable
One of the best things about building your own home is that it will be completely customisable, and you can make it entirely your own. You can start before it’s even built by speaking to expert architects such as Lowe Design Build who can ensure you are making the most of the land you have, and that your home is exactly what you want it to be.
Although it’s possible that you’ll eventually find an existing property that fits everything on your wish list and ticks all the boxes, that could take a long time, and you’ll be beholden to the current owners as to how much you spend on it. For a home that is absolutely yours and fits you perfectly, as well as a property that will cost less than buying something already built, there is nothing that works as well as building your own home.
Cost-Effective
Although there will be more initial costs involved in building a property than in buying one (you’ll need to buy the land, pay for thorough research, organise an architect, hire contractors, and so on), over time those costs will diminish, and by the time you’re living in your home, it will be much more cost-effective than buying one would have been.
Of course, this will require you to have funds from the start, which is why this option isn’t attractive to everyone, but when you consider the long term cost savings and the fact that you could own your property outright in a very short amount of time, it is definitely an option worth thinking about.
You must log in to post a comment.