The National Association of Home Builders said the median price of building a single family house is about $290,000. Just remember that the cost of a new home build differ widely on the location. So, in case you are wondering how much you can afford and you would like to have a targeted estimate, then you research about the price per square foot in your area. Are you wondering if it is much cheaper to buy or build your own custom home? To answer this question, you have to consider the advantages and disadvantages of new versus the old construction as well as the price you will pay for the costs of a new custom home versus an already existing home. The primary things you need to think about when it comes to buying or building a house are the upfront costs and the ongoing maintenance costs.
Buying Versus Building Custom Home
Upfront Costs Of An Existing Home
The median cost of purchasing an existing single family home is about $223,000. For an average 1,500 square foot house that was built before the 1960s is worth about $148 per square foot. Given that, the exact cost could differ widely depending on the location.
Upfront Cost of Building A Custom Home
Building a house with the help of a custom home builder will cost you about $290,000, which is a lot more compared to purchasing an existing one. Even though it’s more expensive, you will get more features.
First of all, a new custom home is generally more spacious. Another benefit of having a custom home builder to build your custom home is you pay for the features you want, whereas a house that’s already built will have an interior or exterior features that you need to pay a premium for, even when you don’t like them. But when an older house becomes your dream home even if it already has the features that someone else thought about, than that is still a good option.
Maintenance Cost of An Existing Home
Older houses will show more signs of wear and tear and that means some things might require more maintenance or if they are on their last legs, replacement will be required. The cost of upkeep isn’t cheap so be sure to know what the age of the main items are. Unless you choose a high end house with everything that you want, you will have to begin changing things with an existing house even if they are functional. Shows about home improvement make it seem like it is simple to change the countertops and the flooring. If you are paying for the cost of the labor and the materials for any alterations, you may begin to think that the overall cost may have been cheaper if you hired a custom home builder Myrtle Beach.
Maintenance Cost of Building A Custom Home
One reason why you should consider building a custom home Myrtle Beach is less upkeep. You will have new appliances and they will all still be under warranty. Plus your interior as well as exterior maintenance outlay for about 10 years is probably zero dollars.
Call Dawol Homes if you need the help of a custom home builder to build your dream house.
3100 Dick Pond Rd # E
Myrtle Beach, SC 29588