When you purchase a home, you typically have two main choices: buy an existing home or build a new one. Both have pros and cons, but experts like Terrenos Houston in New Caney, TX, say if you’re leaning toward building your own home, there are some compelling reasons. Here are the five biggest reasons to consider making your own home rather than buying an existing one.
1. You Can Get More House for Your Money
Terrenos Houston says one of the most significant advantages of building your own home is that you can get more houses for your money compared to buying an existing home. This is because when you purchase an existing home, you’re paying for the land on which the home is built and the actual structure. But when you make your own home, you only pay for the materials and labor needed to construct the house. In other words, you get more bang for your buck when you build rather than buy.
2. You Can Customize Every Aspect of Your Home
Another significant advantage of building your own home is that you can customize every single aspect of it to suit your needs and taste perfectly. Maybe you’ve always dreamed of having a spacious gourmet kitchen or a luxurious primary bathroom with a Jacuzzi tub. Or perhaps you want something more practical, like an extra bedroom or an in-law suite. Whatever it is, when you build your own home, you can make those dreams a reality.
3. You Don’t Have To Worry About Repairs And Maintenance Right Away
When you move into an existing home, there’s always the possibility (and likelihood) that you’ll have to deal with repairs and maintenance issues right away. Maybe the roof needs to be replaced, or the HVAC system needs to be repaired—whatever it is, it’s going to cost time and money that you may not have budgeted for. But when you move into a brand-new home, everything is new, so there’s no need to worry about repairs. That said, creating a maintenance budget is still essential in case any minor issues pop up.
4. Building Your Own Home Is Easier Than You Think
Terrenos Houston says many people mistakenly believe that building their own homes is too complicated and time-consuming. But thanks to modern technology and pre-fabricated homes, that’s not the case anymore—it’s pretty easy to build your own home these days. And even if you run into complications along the way, plenty of resources are available (including this blog post!) to help guide you through the process.
5. You’ll Have More Equity In Your Home
Lastly, another significant advantage of building your own home is that you’ll have more equity in it from day one compared to buying an existing one. This is because as soon as construction on your new home is completed, it will be worth at least what you paid for it—if not more, depending on the real estate market. On the other hand, if you purchase an existing home today and sell it tomorrow, there’s a chance (however slight) that you could lose money on the deal due to market fluctuations beyond your control. So if building equity is essential to you (and let’s face it—it should be!), then producing your own home is the way to go.
How To Purchase A Lot And Build Your Own Home
Now that we’ve gone over some primary reasons to build your own home, let’s look at how you can do it. The first step is to purchase a lot to make your home. You can find lots for sale in various ways, including online listings, real estate agents, and word-of-mouth. Once you’ve found a few potential lots, it’s essential to have them inspected by a qualified professional to make sure they’re suitable for building on.
After you’ve found the perfect lot, the next step is obtaining the necessary construction permits. This includes everything from zoning permits to building permits to site work permits. The process can be a bit complicated, but your home builder or contractor should be able to help you through it.
Once you have the permits, it’s time to start construction on your new home! Working with a qualified and experienced home builder becomes extremely important. They can help you with everything from choosing suitable materials to actual construction.
Terrenos Houston says building your own home can be an exciting and rewarding experience—but it’s also a big undertaking. But as long as you do your research and work with qualified professionals, you can rest assured knowing that your dream home will become a reality in no time.
Conclusion
There are plenty of compelling reasons to purchase a lot and build your own home rather than buy an existing one. From getting more houses for your money to having more equity in your property from day one, there are many advantages to taking on this challenge. Rather than succumbing to myths about how difficult and time-consuming, it is to build your own house these days—thanks primarily to modern technology—you can quickly realize your dream of becoming a homeowner without breaking the bank.
You may be interested in: 4 Tips to Avoid Business Bankruptcy