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What are the Pros and Cons of Building a House vs Buying One?

by Business Bod

Every year thousands of Americans decide to build their new home from scratch instead of buying an existing property. If you’re looking for a new property, you might be considering doing the same. This article lists some key points in the building a house vs buying debate to help make your choice a little easier.

Building a House Pro: Customization

One of the best things about customizing and building your own home is that you can customize everything. Maybe you have certain interests or hobbies that require a specific room layout. Chances are if you buy a house on the open market, it simply won’t fit the bill.

Of course, you could always make modifications to an existing structure, but building your dream house is probably the only way to get a home perfectly customized for you. A company such as Future Forest Properties excels at creating this kind of design.

Building a House Con: Difficult to Sell a Custom House

Let’s say you’ve built the custom house of your dreams, but then you need to sell. While a house with a built-in music studio or mini cinema setup might appeal to you, you may struggle to find a buyer.

When people buy a house, they want to implement their own vision. Unless your custom designs match up with that vision, people will be less motivated to buy.

Buying a House Pro: Convenience

One of the biggest reasons why you should avoid new home construction and buy a prebuilt house is the convenience factor. Going through building a house is an incredibly stressful experience. You’ll need to spend a long time working on designs and getting permits before you can even start talking to the home contractor.

On the other hand, when you buy a property on the market, you’ll be able to move in right away. Building a house can take years, so if you want to move in fast, it makes sense to look at buying a house rather than building.

Buying a House Con: Hidden Costs

Most of the homes you’ll buy will hit you with some kind of hidden cost. You can do your due diligence and get the place inspected, but the reality is that there are always hidden problems that emerge later on.

You’ll also need to factor in the cost of renovations. When you buy a house, the building is often old and dated. The only way to get it back up to standard is to do costly renovations. These renovations can be lengthy and disruptive, just like building your own house.

Now You Know More About Building a House vs Buying

There’s a lot to consider when thinking about the building a house vs buying debate. The key thing to remember is that every situation is different. For some people, it may make sense to wait a year for the custom design of your dreams, whereas, for other people, it makes more sense to move into an established house.

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