Wednesday, February 17, 2016

Pay Now Or Pay Later: Buying vs Building A Custom Home

When deciding to either buy a house or have a house built (a custom home), you are going to have to weigh all the pro's and con's for both. One of the things that you are going to have to come to terms with is that one is a simpler process then the other.

Buying an existing home is a far easier thing to do then building a brand new home. The reason for this is that it takes a tremendous amount of your own time to build a brand new home. I don't mean that it takes a lot of your time because you are out there everyday swinging a hammer and carrying lumber, I mean that it takes a lot of your time to plan, choose and decide on where you want your home to be built, what you want it to look like (inside and out) and making decisions on changes as they arrive during the building process.

Now buying an existing home doesn't mean that you can just buy it and move in and never worry about it again, sooner or later you will be doing renovations on the house or repairs. No home lasts forever and existing homes have already had there clock started to the next renovation before you ever even moved in.

For all the time and effort that you put into having a new custom home built you will end up with a brand new home that comes with a warranty, a home that is built just for you and is finished the way you want it so that it is tailored to your life and your needs. The same can't be said for buying an existing home.

When you are buying an existing home you are buying someone else's vision of a home, that means that more then likely you will be compromising on some aspects of the home because you like other parts of it or you like the location or you like the property that it comes with. As you live in the home you will adapt to the home and how it works and the area's or concerns that you have with it you will attempt to address with renovations or additions.

One of the biggest differences between buying an existing home and building a brand new custom home is that the new custom home will probably cost you more to start with but less for the next twenty years, the existing home will usually cost you less to buy originally but will cost you more over the next 20 years in renovations, repairs and comprises. 

For all that personal time and effort that you will have to put into the building of a new custom home think about all the time you will save for the next twenty years after it is built when you don't have to worry about repairs and renovations.

It's up to you, spend the money and time now and build a new home or spend time and more money over the next twenty years on an existing home.

The choose is yours,

Rob Abbott
Village Builders Inc.

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