Key Points to Consider
Are you in the market for a new home? If so, you might be weighing the options between building a custom home and buying a pre-existing one. Which option is more cost-effective? In the United States, the average price of buying a house in 2021 was $408,800. With the rising costs of purchasing pre-existing homes, making this decision can feel overwhelming.
So, which is the better investment? Should you build a custom home or buy an existing one? Below are some insights to help you decide.
Building a Custom Home
Your initial thought might be to purchase a pre-existing home, assuming that building a new custom home is prohibitively expensive. However, you might be surprised by the potential savings and benefits of building your own home. One of the greatest advantages is that you can tailor the home to meet all your needs and preferences.
Here are several benefits of building a new home versus buying an existing one:
1. Everything is New
Building a new home means everything is brand new. There are no hidden costs for upgrades, such as repainting or remodeling, which are often necessary with pre-existing homes. You also won't be stuck with the previous owner’s outdated design choices.
2. Energy Efficiency
New homes typically feature better insulation, less air infiltration, and more efficient HVAC systems, resulting in lower energy consumption and improved comfort compared to older homes.
3. Design Freedom
Building a new home allows you to incorporate your design preferences from the start. You won't need to spend extra money on remodeling to achieve an open floor plan, move the laundry room, finish the basement, or add storage areas. It’s your design from the beginning.
4. Healthier Living Environment
When building a new home, you can choose materials with fewer toxins or use reclaimed natural materials. Unlike pre-existing homes, there are no hidden dangers such as allergens, mold, lead paint, or asbestos.
Buying a Pre-Existing Home
While building a new home has its advantages, buying a pre-existing home also has its benefits. For many, it can be a more financially sound decision.
1. Convenience
The process of building a new home can be time-consuming and tedious. Buying an existing home is often more convenient—you simply shop around, find homes you like, conduct inspections, and make a purchase decision.
2. Prime Location
One of the biggest advantages of buying a pre-existing home is the flexibility to choose a location that suits your needs. Whether it's a neighborhood near a school, your workplace, a sought-after area, or a more private setting, you have more options with pre-existing homes.
At Concept Custom Homes, we are here to help you plan your dream home. Contact us today for expert guidance and support.
