Should I Build a New Home or Buying An Existing Home To Remodel?

Purchasing a new home is one of the most exciting and rewarding accomplishments in life. However, it can also become a difficult decision to make when setting out to build a new home or purchase an existing home in today’s market.

Here are some variables to consider as you move through the decision making process:

Before you begin exploring your options, consider whether you’ll work with a general contractor to build a custom home, or purchase a new pre-built home. If you’re thinking about purchasing an existing home, you will need to complete an inspection and also provide an estimate of costs associated with the remodeling process.

Model/Track Homes

• Templates and pre-existing models are often excellent deals, but feature standard builder grade materials. Here’s more information about why home square-footage costs are often misleading 
  
• Model options are often more cost-effective than renovating pre-existing homes

Custom Home

• Custom building enables homeowners to have complete control over each element of interior and exterior design options, tailored to their specific needs
  
• Custom building provides the greatest scope of options at a higher financial investment, due to higher quality materials. These materials maximize energy efficiency and return-on-investment. Here’s 5 resources for building a green home

Remodeling

• One drawback: If the home was built before 1978 it may contain lead-based paint. Performing lead-safe renovation is much more expensive. A lead test performed by a lead-safe renovator can verify if lead is present in the pre-existing home you’re considering
• A general contractor can provide an estimate of costs associated with renovating
• Remodeling helps achieve results that suit your tastes, but can quickly turn into a greater investment than initially thought, if not carefully planned by a qualified remodeling professional

You can get excellent deals on buying a pre-existing home, if you can get the home for a low-price in the right neighborhood. You can then remodel the home, or add an addition that is suited to fit your lifestyle and preferences. However, it’s critical to be wary of potential foundation problems. As a precaution, you should consult a qualified professional such as a home builder or credible home remodeling professional before purchasing a pre-existing home.

To recap, building a new home with a custom homebuilder gives you complete control over all details of the process, and provides you with exactly what you want.

There are also excellent deals for buying pre-existing homes. Remodeling a home involves changes that better reflect your personal tastes and preferences, while custom building a new home gives you exactly what you want.