Are you tired of the instability of renting? Has your family grown and you are busting at the seams of your smaller house? Are you an empty-nester who needs to downsize? Whatever the reason, when it comes time to purchase your next home, the task of starting can seem insurmountable. With the housing economy still being a buyer’s market, the choices for your next home might become overwhelming, but it doesn’t have to be so complicated. Looking at the three main choices will relieve some of the confusion and help you evaluate which route you want to take.
Purchasing an older house that has already been occupied can seem desirable based on the neighborhood it resides in or the charm that the house embraces. You may think that you will get a better price on it due to the age, but beware. What you think you’re saving on the front end of the agreement, you will spending in maintenance in the long run. Most older homes have a dated floor plan, so you may be spending money updating the house. There is a good chance that the appliances are not new, so you will need to anticipate having to repair or replace those. Even if everything fits your criteria, the house will have general wear and tear from previous owners.
New Home Construction
In a new construction house that is waiting for that first owner, you will not need to fret over outdated floor plans or leaking appliances. New construction houses will have many of the modern features that a buyer is looking for, but what will get lost by the wayside is any individuality. Oftentimes, builders churn out “cookie cutter” homes to try to sell multiple houses in a short amount of time. You will be settling for somebody else’s product, not your vision of a home. In order to keep the cost low, builders might also put in the basic appliance packages, so you are stuck with less functionality or quality.
A custom-built home can be the best of both worlds. You will be able to create your idea of a dream home in the location of choice. You will be able to orchestrate the entire building process allowing one of the largest investments of your life to be exactly what you want. Some buyers fear that a custom home is not affordable, but they will find that they will really only have the initial payment. There will be little if any maintenance expenses to strike unexpectedly. If, for some reason, a major repair is needed, most custom-built homes offer an extended warranty for your piece of mind.
For more detailed information on maintenance costs:
Buying a home is usually one of the largest investments a person will make in his/her lifetime, so why wouldn’t you get exactly what you have always envisioned for your home? Please contact us for further information.