Building a home from scratch will allow you to pick and choose anything you’d like to include in your future property. It will also take a long time to complete this process. Safe to say, there are many pros and cons of building a house.
Pros Of Building A House
Let’s explore some of the numerous benefits of building a house.
Building a house from scratch puts the power in your hands. It allows for maximum customization when it comes to design, layout and so on. From cabinetry to lighting to color, you will have a say in each and every step in this process.
2. No Competition
One of the toughest parts about buying an existing home is the competition. Especially today in a hot housing market like Arizona, you may make several offers before ever landing a home. With homes seemingly flying off the market instantly, finding an affordable home is tougher than ever. However, if you own the land you wish to build on, you’ll face no competition whatsoever.
3. Lower Energy Costs
Newer homes will undoubtedly feature the most energy-efficient systems as possible. This will lead to lower energy bills overall.
4. Less Maintenance Needs
Since new homes are built and designed to fulfill present building codes and feature up-to-date technology, you won’t have to fret over repairs or maintenance for quite some time. Typically, most homebuilders will provide a limited warranty in case anything fails.
5. All New
Homeowners will enjoy new systems, finishes and hardware all with the latest technology and newest designs after building a home.
Cons Of Building A House
Yes, there are a few downsides of choosing to build a new house, including the following:
1. Wait Time
This is usually one of the toughest parts of building a home – waiting for the construction to be completed. On average, it takes 7 months to complete the construction of a new home. This estimate, though, does not even include planning and approval stages. Undoubtedly, there will be a gap between when you sell your old home and move into the new one. It’s wise to be prepared to cover the cost of a rental for any transition period.
2. Difficult To Negotiate Price
Of course, many prospective homebuyers hope to negotiate and drive down the price of a home on the market. New homes, though, offer different rules entirely. Typically, there is not much flexibility at all when it comes to closing costs.
It goes without saying that the process of buying land, planning a new build and choosing all the interior and exterior designs will be stressful. You are going to have to do a lot to come up with a budget and stay within it. Handling each of the details of building a new home will take a lot of time and effort.
4. Hidden Fees
Any upgrades in design or materials will drive up your overall cost. Upgrades may not be included in the original price, unfortunately. Make sure to budget a little extra cash just in case any upgrades are desired during the building process. Don’t forget above post-move expenses such as landscaping.
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