Furniture, wall colors, landscaping—there’s a lot that goes into making a house a home. However, before any of that can begin, you have to make one important decision. Do you want to buy an existing house or build a new one? The decision isn’t as black and white as you may think, and there are advantages and disadvantages to both options. Read the pros and cons of buying or building your next home:
Pros: One of the biggest benefits to buying an existing home over building new is the ability to move in immediately after closing. If you plan on adding upgrades to the home, you don’t have to immediately cover the cost for them and can instead add the upgrades on schedule with your budget. Buying an existing home also gives you more insight and control over the neighborhood you’ll be living in.
Cons: The major downside to buying an existing home is the limits it places on design and personalization. You have to pay to upgrade the home to your preferences. While you can remodel the home you buy, this process can get expensive quickly. Also, if you have young kids, having ongoing construction inside the home might be a safety risk to them.
Pros: Building a new home gives you the chance to personalize the house to their own needs and tastes. If you want an upgraded kitchen, bathroom or master bedroom in your home, these can be done before you move in, during the building process. Control over the design of the home. Home insurance is often up to 15 percent lower in new construction homes. Newer homes are also more energy efficient and can be built to easily incorporate the newest technology.
Cons: The upfront costs of building a new home are typically higher than purchasing an existing home. Also, it takes time it takes to build a home, and not every family may be able to wait the 6 months or so it can take for construction to finish. If you’ve already sold your old home or your lease is ending, you’ll have to find and pay for temporary housing during the building process. New construction neighborhoods are often less established, meaning you might not immediately find the sense of community you’d have in an existing subdivision.
In the end, the decision boils down to time and design. Do you prefer the personalization of a new home or the convenience of an existing home? Either way, it’s easy to find your dream home whether you decide to buy or build with Sands Companies.