Should You Build a Home or Buy It? The Pros and Cons of Each - Home & Texture
Homeownership Building or Buying?

Should You Build Your House or Buy It?

Take matters into your own hands or kick back, relax, and choose an existing house on the block.

By
April 29, 2024 at 11:54 PM PST
Updated on April 29, 2024 at 11:54 PM PST
Homeownership Building or Buying?

Should You Build Your House or Buy It?

Take matters into your own hands or kick back, relax, and choose an existing house on the block.

By
April 29, 2024 at 11:54 PM PST
Updated on April 29, 2024 at 11:54 PM PST

When it comes to owning a home, you have two options: build it from the ground up or buy a pre-existing one. And while you would think having only two options would seem easier, it actually makes it a lot harder to decide. Both options have their perks and drawbacks, and what’s right for someone else might not be the perfect fit for you. To make sure you pick the best option for your lifestyle, take a look at the pros and cons of each to help you figure out which path might lead you to your dream home.

Building a Home

A lot goes into building a home. To make sure you’re up for the challenge, here are the advantages and disadvantages you should be aware of.

The Pros

You can have whatever you like.

This is a big one. Building your own home means you get to customize every nook and cranny however you like. Always dreamed of a walk-in closet big enough to live in? Or maybe a home office with a view? Your wish is your command.

Photo credit: vitranc

Everything is brand spankin’ new.

Everything from the kitchen sink to the HVAC system will be brand new, which is a benefit in and of itself. New everything means fewer repairs down the line. Plus, newer homes typically use modern, energy-efficient materials and technology, which can save you even more money in the long run.

You can just feel the positive vibes.

There’s just something special about living in a home you’ve designed yourself. Not only do you have something to be proud of, but your friends and family will be proud of you, too.

The Cons

It can be time-consuming.

When it comes to building a home from scratch, patience is key. Delays due to weather, materials, or labor availability can and do happen. So be prepared for construction that can take anywhere from several months to over a year.

There are always hidden costs.

Even though having a budget is a smart idea, unexpected costs almost always pop up. When prepping to build a home, be sure to put away some extra cash to cover them when they happen.

It can be mentally exhausting.

The number of decisions you have to make when building a place can be overwhelming. Everything from the type of doorknob to the color of the roof tiles can contribute to decision fatigue.

Photo credit: Maskot

Buying an Existing Home

Buying a home is physically easier than building one, but there are quite a few pros and cons with outright buying a home, too. Take a look.

The Pros

It’s more convenient.

For the most part, buying a home is a lot easier and faster than building one. You could tour a home, make an offer, and move in all within a few months. This is especially appealing if you’re on a tight timeline.

You know how much you’re paying.

When it comes to the purchase price, what you see is pretty much what you get. And of course, if you end up doing some renovations, you can budget for them based on what you’re willing to spend after the big purchase.

They’re charming.

Older homes are likely to come with unique features that new buildings don’t have. Think original wood floors, a quirky nook under the stairs, or any other details that add that warm, lived-in feel that makes a home feel more homey.

Photo credit: JohnnyGreig

The Cons

Expect things to break.

The older your home is, the more often things will break. From leaky pipes to damaged roofing, be prepared for potentially frequent maintenance.

Older homes use a lot of energy.

A lot of the older homes aren’t equipped with the latest in energy efficiency. And unfortunately, homeowners are the ones who end up paying the price. So until you can make necessary upgrades, expect your utility bills to be on the high side.

You don’t have creative freedom.

Depending on the home, you might be kind of limited in what changes you can make. This could be due to structural issues, building codes, or even local regulations, especially if it’s a historic property.



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