Many people love the idea of building a new home, and indeed, there are a number of great benefits to doing so. At the same time, there are a few drawbacks you should know about before starting the process. First, let’s look at the pros of building your own brand-new home.
Being able to control your design is a huge benefit. Even if you’re building with a tract builder, you’re going to have at least four or five different designs to choose from. If you’re building a custom home, you’ll be sitting down with a designer or architect to lay out the home exactly as you want it.
In addition, you’ll be able to pick all of your finishes, carpeting, countertops, lighting fixtures, and more. You’ll be able to personalize and make the house your own forever home.
Efficiency is another huge benefit. You’re getting the latest technology, so your home will be built with brand-new appliances and built to the latest code requirements, reducing your energy bills.
Now that we’ve covered the pros, let’s look at the cons. The biggest con by far is the price. You’ll probably be spending 30% more on a new home than you would on a resale home of the same size. A $300,000 resale home will cost about $400,000 if it’s brand new. That’s a big difference.
Another con is the time it takes to build. Most new homes take at least nine months to build. If you are in a hurry or have to live with your in-laws for nine months, it’s probably not going to work.
Landscaping is another thing you won’t get with a new home. If you want landscaping, it’s going to cost you on top of what you’re already paying. Finally, the location of your new home will likely be farther out from the city center than a resale home would be.
If you are interested in building a new home or just learning more about the process, I’d love to help out. I can connect you to all the best builders in the area. If you have any other questions for me about real estate, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.