The Benefits of Building a House Vs Buying One
The decision about whether building a house vs buying is best depends on many factors. One of the largest investments a family can make is in the building or purchasing of a home. Location, market trends, price, and many other factors play into what a family chooses and where to eventually buy the home. The biggest factor revolves around building a house vs buying, with each path having distinct advantages and disadvantages. Explore the options to decide which route is best.
Buying a Home
Two advantages stand out when deciding to purchase an already existing home: cost and convenience. Once pre-approval from a lender goes through, a family can shop around, find the perfect home, and eventually make an offer. Within a month or two, the family could be living in the new home.
The process involves many steps but being able to move in right away is one of the big factors families decide to choose an existing home. Relocating kids and maybe even work is challenging, so families often choose to go with this route to ease challenges and risks.
Buying a home outright can lower some of the unknown costs which may come up when building a house. Depending on the real estate market, the prices for existing homes may be more favorable.
Brookstone Homes offers pre-built homes in several of our premier communities. Explore our inventory and call to schedule a tour!
Building a House
Building a house is not as quick and possibly not as cost effective as purchasing existing property, but a family can select a plot of land and build a custom home with all their desired features for a great price, especially if you work with a seasoned builder like Brookstone. This customization process, along with selecting a neighborhood and getting what they want, is often cited by families as the reason for building a house vs. buying. The biggest advantage overall rests in knowing exactly what a family wants and being able to select a builder who can deliver the goods. A new home is more likely to be energy efficient, have better HVAC (heating, ventilation, and cooling) as well as insulation. This can save families money in the long run.
Time and Money
One of the biggest drawbacks to building a house tends to be the higher costs and longer timeframe associated with the process. A family can limit the risk of building a house vs. buying when selecting carefully the builder and focusing on putting together a good contract. A lump-sum contract can specify fixed prices for construction, thereby reducing the risk of cost overruns for the buyer. Making sure everything is included saves both time and money. Selecting a duration up front can help avoid open-ended deadlines to make sure the builder stays on time. Maintain good communication with the builder and check in to be sure things are going as planned for a better overall process.
At Brookstone, our customers come first. We’re building you a forever home for your family, after all, and that’s more important than costs or financing. Let us help you put together a plan for realizing your dream home today.
Brookstone Homes is the premier builder in Ohio for custom homes. If you’re ready to build a custom home of your dreams, call us. We will make sure you get all your needs met in the process and ensure communication stays constant from start to finish.
Call us to find out how to get started: (513) 340-7200