When you get to the point where you’re ready to start a family and put down roots, the question usually comes up as to whether to build your new home or buy an existing one instead. While the professionals like the ones at Laguna Beach Real Estate can help you with that decision, there are a few pros and cons of each that you might want to consider before making a final decision.
Upfront Cost
Building a new home with construction management included is much more expensive than buying an existing home, which is indeed a disadvantage. However, the fact that you get to choose the design and layout of the home and have input from beginning to end makes up for a lot of the money spent. Another advantage of building is that you pay for only what you want, whereas in an existing home, you are stuck with whatever is already in the home when you purchase it. Of course, with building a home you have to pay for somewhere to live while your home is being built, which usually takes quite a while. Moving into an existing home is faster and you aren’t spending double the money.
Maintenance and Upkeep
Older homes have a whole lot more wear and tear on them than brand new homes. For example, if you have your home built, then you can add in that double glazing on the windows and doors that helps to insulate your home and keep out the noise. If you are in an existing home, you’re going to have to spend the extra money and time to get that done. Also, the average furnace is only said to last for 20 years and costs a good amount to replace. If you move into an older existing home, you could end up having to shell out the money for a new furnace soon.
When it comes to building a home, maintenance and upkeep should end up being cheaper, but then again you never know, things do happen and stuff does break, there is no guarantee here.
Energy Efficient and Environmentally Friendly
Unless you are buying an existing home that is still relatively this century, you could have some problems with it being energy efficient and environmentally friendly. Older construction often means older appliances, drafty windows and doors, and money flying out the window. When you build your home, you can be sure that all of the appliances are energy efficient and the doors and windows are secure from the get-go. However, you can do the same thing with an existing home as well, it just costs a little more. As for being environmentally friendly, you can do that with any home you move into, whether it is newly built or already existing.
These are just a few of the pros and cons of buying vs. building your new home. Do your research, take your time, and make the decision that works best for you and your family.
