If you are thinking of buying your first home, there are several things you must consider. You have to decide whether to purchase or continue renting for now. If you believe that becoming a first time home buyer is what you want, you have to determine whether you need to purchase an existing one or build a Myrtle Beach custom home from the ground up. Take a look out the pros and cons of every option before you make a decision.
There are some individuals who benefit from a home rental. This might describe you, for instance, you need flexibility or maybe you have to move from one location to another because of your job. This holds true if you love to travel and live in different cities every few years.
There are several reasons why people prefer to rent. If you do not have extra credit or cash, making a down payment on a home can be difficult. Knowing for a fact that your landlord will take care of any broken appliances or repair a leaky roof is enough to rent rather than own.
On the other hand, renting means your money will be used to pay the mortgage of your landlord. It won’t be for your own investment, so you have to spend thousands every year without getting anything that you can call your own. Considering that you can now get a mortgage that often costs less than renting, buying a home can very well be the best financial move you can do.
Purchasing your first home is a wonderful idea if you are prepared to settle down in a place for a few years at least. So, in case you want an asset that you can call your own after you’ve paid it off, and if you would like the possible tax breaks that come along with a mortgage, the best choice could be buying a home.
However, purchasing an existing home comes with a lot of expenses apart from the price. Older homes are much less energy efficient, and that could result in higher energy bills every month. Older houses usually include outdated appliances and décor that you will eventually replace, and that implies more cash out of your pocket or accepting to live in a house that you do not love. Finally, when you purchase an older house you do not always have a good idea of what you will be getting. You might not know who built the home, you won’t know what is behind the walls, and you won’t have anybody to call if surprise repairs happen. All these things can quickly add up. Think of it like your car. A new car is less likely to require the level of maintenance that an old car would need.
Usability is another factor that you have to consider. Older houses are usually constructed based on the ways families have lived a decade, twenty years, or thirty years ago. This means houses that have small bedrooms, living rooms and dining rooms that a lot of modern families just won’t use but still pay for in a much higher home price and energy costs, and none of the floor plan designs that are very in demand now such as a home office, kitchen island, first floor master suite, walk-in pantry, bonus room, and additional storage.
Building a Custom Home
If you are a first time home buyer with a picture of your dream house in your head, purchasing a custom home can be the best choice for you. It is the only method you where all of the features that you want from the very beginning especially when you work with Dawol Homes to get the custom home that won’t break your budget.
New homes are far more energy efficient, in which case allowing you to cut costs on your utility bills. You will also be assured that there won’t be any issues left like mold from the previous owner. A new build also provides you a warranty to take care of little repairs after you move in. Custom home builders build only a small number of homes at a time, so they can pay close attention to detail as well as craftsmanship, making your house a home you can live in for a very long time.
Are you a first-time buyer? Call Dawol Homes now.
3100 Dick Pond Rd # E
Myrtle Beach, SC 29588