Did you know that the price of an average home in the United States is roughly $200,000? At the same time, building your own house from scratch can cost between $165,000 and $475,000, depending on various factors. This begs the question of what is more cost-effective – building vs buying a home?
There are many aspects to consider when it comes to building a home vs buying such as location, size of the house, materials used, etc. Keep reading this article to find a few advantages on each side and decide what’s best for you.
Building a House Offers You Many Customization Options
When it comes to making your house look absolutely unique, building it on your own is usually the best option. That’s because you get to decide upon its location, size, number of bathrooms, number of rooms, yard layout, etc. You cannot do that if you buy an existing home, although you can still customize it a bit after you have purchased it.
Building a House Means Fewer Maintenance Costs
Since you’re building a house from scratch, everything will be new. This includes plumbing, furniture, electronics, kitchen cabinetry, doors, windows, etc. in most cases, a general contractor such as Currahee Home Builders also offers you a 10-year warranty on your property, so you don’t have to worry about anything. On the other hand, buying an existing home implies that at some point you’ll have to spend money on maintenance and upkeep.
Buying a House Allows You to Move in Quicker
You probably saw your ideal house on a website online, you contact your realtor and in just a few days, you can make the arrangements to buy it. You’ll be able to move in quickly and live in your dream house with your family members. One of the biggest advantages of buying an existing house is that you don’t have to wait until it’s built from scratch and this attracts a plethora of buyers.
Buying a House Is Usually Less Expensive
That’s because you don’t have to worry about buying a plot of land, obtaining permits for construction, installing the plumbing, electrical, and gas systems, paying the general contractor, etc. You just have to pay for the actual house, realtor fees, paperwork fees, and that’s it.
However, keep in mind that if you want a really big house with multiple bathrooms and an expansive yard, chances are that it will be much more expensive to buy it than simply building it from scratch. The location of your desired home also adds to the price and it might increase its total cost to several hundred thousand dollars on average.
Building vs Buying a Home – the Verdict
Now you know the pros and cons when it comes to building vs buying a home. It’s all about planning, doing your homework, and staying in touch with general contractors as well as professional realtors in your area. At the end of the day, it’s all about feeling comfortable in your dream house, whether you buy it or build it.
In the meantime, feel free to read the other articles on our website to learn more about real estate topics, how to customize your house, and how to improve the quality of life in general!