Do you want to know if it’s better to have custom built homes or buy an existing one? As a homebuyer, your options when it comes to the kind of house that you would like to buy. Among these choices are purchasing an existing property or constructing one of your own.
These two choices have their own set of pros and cons. A custom built home can be expensive and time consuming. Meanwhile, buying an existing house limits you to what’s available in the market. The best choice will boil down to your personal preferences such as the time frame and cost.
Why Choose Custom Built Homes?
There are many benefits to choosing a custom built home.
Customization – building your home from the ground up means you will have the opportunity to customize the details that will satisfy your tastes and lifestyle. From the flooring, layout, and cabinets to the doorknobs, paint colors, and lighting, you can decide on what you want to have.
Low competition – it may come as a surprise given the state of the world last year but the real estate sector is very hot. Existing houses were in the market for only 20 days. Houses were flying off the market very fast and it can be tough to find the best house because of the competition. But if you own a land, you can have your dream home constructed there instead.
Lower maintenance – New homes are constructed to meet the current building requirements and features the latest technology. That means you don’t have to worry about major repairs or maintenance issues during the first few years. There will be no failing HVAC or leaky roofs. Not only that, some Myrtle Beach custom home builders offer a warranty in case something wrong happens.
Lower energy costs – New houses tend to feature the latest energy efficient units and materials, which means lower energy bills for homeowners.
Newness – You will be able to start fresh and you will be the first owner of the house. That means you don’t need to worry about the home’s history.
Buying an Existing Home
Some first time homeowners choose to buy an existing home because it’s the cheaper route and so they could build equity before they could face the challenge of building a custom home.
If you decide to buy a home, make sure that your monthly payment isn’t more than 25% of your salary because if you do, you’ll end up being house poor. This limit must include the interest, principal, property taxes, and insurance. You should also factor in the homeowner’s association fees.
Buying a home is not only cheaper but also means you spend less time waiting to move into your home. An existing house will most likely feature some landscaping, which means you don’t have to worry about spending a lot to add the landscape.
Call Dawol Homes now if you are thinking of having a custom built home. Our team of expert custom home builders can bring your dream home to life.