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Should You Buy or Build Your Next Home?

Spokane Home Builders, Building Custom Homes in WA, ID, Coeur d'Alene


When you are looking to get a home, it can be a tough decision to buy or build. Buying often means a faster result and getting into a location that is already established, while building gives you a “dream home.” Either option can save you a lot of money under the right conditions. (Here’s a link to an article series that helps you save money in realistic, proven ways.)

However, whether you buy or build your own home, this will be one of the single largest investments you will ever make. It is an important decision; you need to ensure that you think clearly before taking your next step.

Most people spend a considerable amount of time looking for their perfect home. While it may be a little difficult to find your exact dream home in the market, one sure-fire way to get it is by building it. However, this is not always an easy choice. There are a lot of factors that you will need to consider, chief among them is cost and time.

Whether you are considering buying or building a home, each one comes with advantages as well as disadvantages. If you choose to build your own home, you can choose your floor plan, the framing or the type of cement panel you want to use for your house, the location, and above all, the design and type of amenities you want in the house. Unfortunately, you may find it difficult getting a land on the location you have in mind.

On the other hand, buying a home can seem like an easier choice. If you are in a hurry to own a home, this option seems like a great one. But there are disadvantages that you need to consider. You may find it difficult with financing and sometimes, you may have to settle for something different from what you have in mind.


Some Important Considerations to Make Before Buying or Building

Getting a new home is really a tough decision! You need to look at all of the variables before making your final decision. Below, you can take a look at various considerations to make before you make your choice.


The Case for Building Your Own Home

Most people shy away from building their own home because they think it is hard. Fortunately, building a house is the only way to get your dream home. According to the National Association of Realtors, the average time an existing home is in the market is 29 days – which is a new low and makes it even harder to get a home. The implication of this is that you may have to settle for a home that is far from what you have in mind if you are considering buying a home.

Customization is another good reason to consider building a home. You will get to choose the material, design, and personalize the details of your house from the ground up. You will choose the type of cabinets, layout, lighting, paint colors, and even doorknobs. You will get your home built exactly the way you want it.

Again, by building your own home, you will get to live in a home that offers modern features and finishes. You won’t have to worry about big repairs right away. Besides, new homes are built to meet current building codes, this usually means they are energy efficient and come with up-to-date technology.

Most people are turned off by cost when they are considering building their own house. Fortunately, if you are willing to put time into research, you can get your materials at an affordable price. For instance, you can replace your normal cement panel with the PermaPanel, which is a lightweight and more affordable cement panel. Since it is fireproof, pest resistant, durable, and energy efficient, it will help you to save money. You can significantly reduce the cost of building a home if you are willing to put time into sourcing for materials.

There is no need to worry about maintenance and cost of repairs within the few first years of moving into your new home. This is indeed, a great way to enjoy your home and save money. No doubt, building a house is the best way to get your dream home and enjoy more modern features.


The Case For Buying an Existing Home

If you are in a hurry to move into a new home, buying an existing house is a great way to go. It is a lot less stressful. You won’t have to worry about buying land, deciding on the design of your home, picking out a cabinet, fixtures, flooring, interior trim, countertops, and on and on it goes.

When you decide to buy a home, you just need to have a budget in mind, get a realtor and let her find your dream house for you. There is no doubt that managing all the details that come with building a home takes a lot of time and effort. You can be able to avoid this stress when you buy an existing home.

Buying a new home can be a more affordable option. You can negotiate a price or get a realtor to negotiate the best deal for you. You can easily upgrade your new home at your own pace.

The only problem with this option is that you may find yourself with outdated features, higher energy costs, and a neighborhood you hate. If you decide to go along with this option, make sure you make a thorough research and work with a good real estate agent.


Ready To Decide?

Now you have all the facts, you can go ahead and make your decision. The fact is; most people will like to live in a new home built to their taste. Unfortunately, they are scared of the cost of building a house. However, this cost can be reduced by using a more affordable option such as the PermaPanel during construction.

If you are in a hurry to own a home, ensure you are working with an experienced agent who is conversant with the area you want to buy a home.

About Benson Bondstone Benson Bondstone Logo

Benson Bondstone was created because the way we build needs to change. Needless disasters happen every year simply because, as a society, we’ve continued to use outdated methods. There is a better way–and it’s even affordable. Feel free to swing over to our homepage for more information, or, you can come over to our Coeur d’Alene Home Builders Google+ page.

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