Buying a house can be a complicated process. If you are a prospective homeowner, you don’t have to decide to buy a place right away. There’s another option: building a home based on a custom design. Here’s an overview to decide whether you want to buy or build in brief:
Cost is definitely the most important deciding factor in any type of property purchase. You may want a certain kind of house at a certain location. Ultimately, though, it’s your budget that decides where and what to buy.
When you buy a house, you would have to set your budget limit in accordance with market prices for houses. In contrast, when it comes to building homes, you will be afforded some budget flexibility. This doesn’t apply to land, just for the house.
Custom building a house is highly advantageous if you want to choose your own material. You can ask the builders to keep costs low by eliminating certain expensive material standard in pre-built homes. Want a spacious kitchen but want to keep the costs as low as possible? You can eliminate marble countertops and wooden flooring to limit your budget.
Purchasing a home doesn’t really allow you to cut cost on certain features. With a custom build, you can save money now and keep the option to upgrade later. For prospective homeowners who want more control over the costs should consider building instead of buying.
Pre-built houses only offer certain standard features that might be limited in functionality and looks. Some homeowners may prefer certain standout features, such as a different design style, more energy efficiency, more privacy, or simply more space.
It’s easy to get tired of the cookie-cutter McMansions common in Australian suburbs, for example. What if you desire something classier. Then you can consider custom built options like Leneeva Hampton style homes. You can also add more features best suited for your lifestyle.
Custom building might be the best option for prospective homeowners with physical impairments. If you are in a wheelchair, you can build a home without staircases and with more ramps, for starters. It’s very difficult to find such options in the mainstream market. Custom building, therefore, offers more options for discerning owners.
If you want a house within the month, then the best option would be to go buy a pre-built one. When you design your own home, the process takes time. It would take time to finalise the design, get building code approval, and then to finally start construction.
This waiting period doesn’t exist when you buy a home. You can own the home as soon as you secure your mortgage when the house is already built. Then again, no one should make a property purchase on a whim. The wait might be worth the while when you can build a house exactly as you like it.
Choosing the Right Location
The location, too, plays a huge role in whether it’s best to buy or build a home. You might find it easier to build homes in rural areas. Land near urban areas can be very expensive.
Making the land suitable for building a house, such as by flattening slopes, can be very expensive because of taxes and insurance. If you want a house near a city, then buying a home might be the easiest and most cost effective option. However, this is subjective of course. Some locations in Australia are great for building homes rather than buying them.
Owning a home is a major life decision. Prospective homeowners should always consider all options available to them. If you are really looking for your dream home, then don’t limit yourself to buying a house. Consider building a house according to your exact specifications that would stand out from the rest.