Building a new home from scratch may seem daunting, but it can actually be incredibly satisfying. It’s worth building a house from the ground up for several key reasons.
Is it More Expensive to Build or Buy?
Whether it’s more expensive to buy or build a house from the ground up is constantly under debate. The quick answer? It depends.
Several factors come into play that affect cost:
- Where are you buying or building your home?
- Do you already own the land on which you are building?
- How big is the house?
- Are there potential hiccups to building that will increase cost?
In addition to cost considerations, there are several reasons why building your own home is worth it in the long run:
You Make the Decisions
When you build your own home, you make all the decisions: where it is, how big it is, interior designs, landscaping, and personal touches. This gives you the freedom to create the home of your dreams.
When you buy an already existing home, there are so many things you have to simply accept. When you build on your own home, you are there at every point in the process, creating a structure that perfectly fits your family and style.
No Bidding Wars
One significant benefit of not buying an existing house is market competition. Once you’ve purchased your land, you don’t have to worry about competing with others to buy your dream home—it’s already yours! You won’t be let down when someone outbids you or claims a home you love because you’ll get to create the space you crave.
This means that you can work with a building company of your choice and focus funds on building rather than bidding.
No Need to Renovate
One of the best things about building a new home is just that–a new home. Your appliances, home heating and cooling systems, and building structure are all brand new and years off from needed renovations.
Renovations cause so much stress because unexpected obstacles often cause financial strain and prolong the estimated completion date. Living in a house that is being renovated is nearly impossible. When you build your own home, you might have to wait months to complete it, but you won’t be living among the construction like you would in a renovation.
Building a new home saves so much time and money compared to buying an old house with unforeseen breaks and repairs. Also, unlike older homes, new homes have energy-saving features that save you money on monthly utility bills. You won’t have to do any immediate renovations, just routine upkeep. And you’ll get to enjoy your new space right from the start.
Create Your Dream Home: Build on Your Land
Even though building a house from the ground up may seem overwhelming, creating your dream home is more than worth it.
It may seem more expensive upfront to build a new house, but when you add in all of the costs and stress that comes with buying, building your own home from scratch is money well spent.