Every prospective homeowner faces the same age-old question: to buy or build. The current real estate market is hot, and many people are considering this question as they plan to purchase their dream home. While there are many pros and cons for each choice, you ultimately have to choose what is best for you and your family. Continue reading to learn more:
Home Layout
The layout of your home is an important element that many people take into serious consideration. With the construction of a new home, you have full creative freedom to design the floor plans of your dream home. In contrast, buying a pre-existing house comes with the price of not being able to redesign the floor plan. While you can always do renovations and remodeling of a pre-existing home, it will cost you time and money. If the layout of your home is an important factor, you may want to consider new construction over buying a pre-existing home.Â
Price
Price is a major factor when it comes to the homebuying process. The 2022 housing market has experienced record-high home prices, which has caused many people to question whether they should build or buy. When considering purchasing a pre-existing home, you must not only consider the price of the house, but you also need to take current interest rates into account. So far, 2022 has seen a record rise in home interest rates, which has caused many people to choose the route of building their home. If you are going to invest that much money into your dream home, why not build it exactly how you envision? Â
Repairs and Renovations
Repairs and renovations are inevitable at some point during your journey as a homeowner. However, it’s important to note that the expected repairs and renovations with a new build are significantly lower than those associated with a pre-existing home. Depending on the age of pre-existing houses, you can expect to have several repairs after purchasing. Older homes often require many more repairs than newer homes that are on the market. However, you can expect much fewer repairs and renovations needed in a home you build and design with you and your family’s needs in mind.
Warranties
Warranties are an important factor to consider during your journey to becoming a homeowner. Building your home comes with the added benefit of having warranties on fixtures, appliances, and structural elements like roofing. When purchasing a pre-existing home, you may be unaware of how the house was maintained, putting you at risk for unknown damages from the previous owner. If the home you purchase wasn’t taken care of properly, it could cost you more money in repairs and restorations down the road, so make sure you consider this factor carefully during your search for the perfect home.
Customization
Homebuyers invest a lot of money, time, and energy into the purchase of their new home, which is why customization is so important. People seeking a new home should be able to customize their space to fit their unique needs and aesthetic preferences. This is much easier to do with a new build than it is to completely renovate an existing home. Being able to customize a new build can benefit people of any age and stage in life. Whether you need to customize a playroom for children or make sure your floor plan is wheelchair accessible, choosing to build rather than buy a home enables you to make custom plans to fit your lifestyle and needs.Â
Contact us today to learn why River Bluffs should be your first choice for a community. Located along the picturesque Cape Fear River banks, River Bluffs is a gorgeous community ideal for those seeking luxury and comfort. Schedule your tour with us today!