Monday, November 5, 2012

Buying vs. Building: Which is Best for You

When you finally decide to stop renting and invest into your own home, deciding if you are going to buy your first home or build your first home can be a very challenging decision. Young families, single individuals, or other people who have never owned a home will have little experience in knowing the advantages and disadvantages of each of these choices. Deciding to buy or build your first home is a difficult choice, but there are some things to consider with both of these options.

Buying a home

Buying a home is a choice that many first time homeowners choose. With buying a home, the purchaser does not have to deal with contractors, locating a home site, or the other necessities that come with building a home. Also, since the home is already built, most likely there will be other houses already built in the neighborhood. Therefore, the purchaser will know how the houses in his or her neighborhood will look. A pre-existing home already has a landscaped yard that a new home will not have. Finally, with a pre-existing home, the purchaser will be able to move in much quicker after closing because the house is already built.

There are disadvantages of buying a pre-existing home. The most obvious disadvantage is the homeowner will have to customize the home to fit his or her preference. This will include painting, removing wallpaper, or cutting trees in the yard. The purchaser also does not have any choice in the layout of the home.

Building a home

While some may think that building a home is much more expensive as compared to buying a home, this is not always the case. Many times an individual can build his or her own home in an affordable price range. Some of the advantages of building a home include working with the builder to tailor the home to fit the purchaser’s preference, getting building discounts from the builder, and getting a brand new home that no one else has ever owned.

One of the biggest disadvantages of building a home is the time it takes to build the home. The purchaser may have to find temporary housing until the home is built. Also, working out contracts with the builder can be burdensome.
First time homeowners have lots of things to consider before deciding to build or buy. Since this is the largest investment of anyone’s lifetime, it is important to choose wisely.

Author Bio
Melisa Cammack is a full-time mother of three growing boys, and loves freelance writing for parenting blogs. She and her husband recently did some home renovations, and looked into general contractors in Montana. When looking for advice, the experts and industrial contractors in North Dakota were extremely knowledgeable.