Making the Decision to Custom Build or Buy Your House

Buying a house is one of the biggest financial transactions you will undertake in your lifetime and should not be taken lightly. When the going gets tough, it is important to remember the purpose of your search; to find the perfect house and turn it into the perfect home. Your home becomes your sanctuary where you relax after a stressful day, raise kids in comfort, and entertain family and friends. Deciding and agreeing on the right house can be a long and exhaustive process therefore start the looking in advance of your move as you possibly can. The search can be simplified by being methodological. Keep in mind there are as many houses as there are different tastes and needs for housing, therefore you will find your perfect home. Making the decision to buy or build is a personal and lifestyle choice. If you are looking for your right answer you will not find it here, but you will find information that will help you in your decision making process.

What kind of neighborhood would you like to live in?
Would you like to live in an old Victorian style house in a well established neighborhood, a McMansion in a new subdivision or maybe you would like a country home in a rural setting. The location of your home is very important in the decision process. How close to your work, school, store, or doctor’s office do you need to be? Newer home subdivisions and newer schools are usually located on the outskirts of the city. These subdivisions usually attract the same kind of people; in essence these are neighborhoods by design. The more established neighborhoods are usually located within the city. These neighborhoods have more diversity in the ages of the residents, house styles and lot sizes. Building a new house in this kind of neighborhood requires you to tear down an existing older house and building in its place your dream home.

What kind of house do you want?
There are many options; remodels, pre-owned houses, spec houses, tract houses, custom built home, and owner built homes. With new built house you can choose a floor plan to suit your present and future needs. You can customize your house down to the carpet color, window type and household gadgets; building a more efficient and effective house. New homes are built to higher standards than pre-existing homes with better fire-safe and security systems. New homes also have fewer repairs and sometimes come with warranties unlike older homes which seem to need a slue of repairs once you’ve moved in. Pre-existing homes offer more character than newer homes, but remember that a custom built house can have as much character and charm as the homeowner wants. Older homes tend to have mature landscapes then new constructions, though to an avid gardener this offers a blank canvas to design a garden of your individual taste.

How much money are you willing to shell out for your dream?
The cost of purchasing a pre-existing home is normally less by the square foot than building a new home. If you decide on building in a development don’t forget the hidden costs including association fees, necessary upgrades and landscaping. On the flip side if you chose to buy a pre-existing home you may still have to update the house to meet safety codes and/or renovate to suit your needs meaning more costs in the long run.

Do you think you’ll be moving soon or staying put?
If you anticipate your job will transfer you soon, experts recommend buying a pre-existing home for a good deal. Hence, financial gain is your motivation.

How savvy are you?
Are you handy with tools and understand the in and outs of homebuilding? Would you be better off renovating a pre-owned home? Save money upfront by buying a pre-existing home and modifying it to suit your purpose. If you have time on your hands then build yourself a new house.

How soon do you need your home?
The wait for a new home being built seems lengthy. There always seem to be delays. Are you willing to wait it out?

After doing your homework, some searching and answering the important questions, you have made your decision. There are still some more issues to consider before you start the actual building process.

New Home Subdivision or Custom Home

New Home Subdivision
There are different things you may wish to consider before building your home in a subdivision; your commute to work, the price, proximity to medical facilities, schools to name a few. The reputation of the builder, quality of life offered at the subdivision.

Custom Built Home
This is the most difficult option but the rewards are well worth the effort. You need to find financing, then locate a good piece of land, choose your builders, find an architect or choose house plans. If the land is not building ready you have to clear the land, plan for utilities and take out the relevant permits. This is where your handiness with tools pays off. You can make sure that everything works out as planned and save money by doing some of the work yourself.

New built and resale homes have advantages and disadvantages your task is to determine what you prefer and decide. Remember the correct answer to the build or buy is as unique as you are.