To build or to buy? What you should consider to guide your decision
The spring house-buying season is underway and like many other buyers you are asking yourself, to buy or to build? There are positives and negatives to each decision. To help you better understand what those are, we've listed three possible positives and negatives for each below. Consider whether there are more that you could add to each list.
Positives for buying your next home: Move in quickly. Once you close, you can usually move in shortly afterward.1. Delay upgrades. Buy a house and you can make upgrades as old pieces wear out, saving you money.2. Know the neighborhood. When you buy a home, you can see the other homes in the neighborhood. This may not be true if you build. 3.
Negatives of buying your next home: You're stuck with your layout. Unlike a home you build, you're stuck with the layout in a home you by.1. Decorating costs. Buy a home and you may need to tear down wallpaper or add a fresh coat of paint.2. Upgrade considerations. You'll have to wait for the upgrades and your house will be in disrepair until the projects are complete. 3.
Positives for building your next home: A home of your own design. Determine the layout and specifications that works for you.1. Everything is new. Build your home and you're the first to use everything in it.2. Additional savings. A new home should provide homeowners insurance savings.3.
Negatives to building your next home: Be ready to wait. Building a home can take 4-6 months. You'll need patience and a place to live until your home is complete. 1. Choose wisely. Your price range may limit your style options and the upgrades you can make.2. More moving. Build your home and you'll have to move out of your temporary housing, meaning even more moving
