Building vs. Buying a Home: Pros & Cons

Mar 25, 2014 | Renovations

Are you trying to decide between buying and building a new home? With pros and cons for both options, the decision can be tricky. For example, building new home grants you choice and flexibility, but buying a new home is often more cost-effective. Read on to learn more about the pros and cons of building vs. buying a new home to aid you in making this important decision.

Building: The Pros

  • Choice: One of the most important benefits to building a new home is the fact that it gives you complete freedom of choice. By building, you get to choose everything from the color of the walls and type of flooring to the bathroom fixtures and kitchen cabinets. You can even choose what school district your new home is in.
  • New Features: Another benefit of building a new home is having access to the newest features on the market. You can easily design your home to be eco-friendly, for example, saving you on utility bills in the long run.

Building: The Cons

  • Cost: Of course, the main disadvantage to building a new home is the cost. Installing the latest upgrades and newest features in your new home can lead to high expenses and may be unaffordable.
  • Delays: Another disadvantage to building a new home is the potential for delays. New construction always takes time, and it can take more time than expected. Furthermore, you may end up having to spend a lot of your own time working with a contractor.

Buying: The Pros

  • Convenience: One advantage to buying a new home overbuilding is the fact that it is much more convenient. Once you choose a new home, you could be moved in within the month.
  • Upgrades: Another benefit of buying a new home upgrades. Many new homes have upgraded kitchens, bathrooms, and have undergone other home restoration projects to prepare them for the market.
  • Cost: Of course, another advantage to buying a new home is the cost. In general, buying is cheaper than building, and buying also allows you to shop around for the best deal. Furthermore, as the economic climate changes, you can find an even better price.

Buying: The Cons

  • Compromise: A major con to buying a new home is the fact that you are likely to have to compromise when it comes to the features, amenities, and location you want. Whether it’s a bathroom that’s too small or wallpaper you hate, you may have to make some compromises.
  • Renovations: Unfortunately, not all homes on the market have undergone the renovations you would like to see. This means that you will have to invest time and money into renovating your new home.
  • Efficiency: Finally, if you choose to buy an older home, you may have to compromise on efficiency. Many older homes are not as efficient as a newly constructed home could be, which means you’ll have to spend more on utilities in the future.

Whether you are looking for a custom home builder in Columbus, OH, RH Homes are at your service. Contact us today for a free consultation.