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HomeMoneyTo Build or Not to Build? That's the Home Buyer’s Question

To Build or Not to Build? That’s the Home Buyer’s Question

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The acquisition of a house is one of the biggest, if not the biggest, purchases and investments you will ever make in your life. A lot of house-hunters go through days and weeks of spending time, effort, and money in search of the perfect home. Others choose to build a house to avoid the inconveniences of the hunt. While both approaches have their own disadvantages, each one also has an upper hand on the other when it comes to certain considerations.

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Let’s take a look at the different advantages of buying and building a house:

Building a House

  • Customization

You have better creative control over the use of the land and the building’s design. You can customize the layout, the exteriors and interiors, the materials to be used, and fixtures according to your style and preference. You get exactly what you want.

  • Less Competition

One of the downsides of looking for a house to buy is the competition. On average, it only takes about 30 days for a home before it gets taken off the listings and the deal is closed.

It is especially shorter during springtime. While there’s far less competition during winter, the listings also drop significantly, leaving you with only a handful of good choices.

  • Modernization

In most cases, houses that are built from the ground up meet the latest building codes and adopt up-to-date technology in the design. You may even incorporate smart tech and green architecture for greater efficiency and sustainability. It is a lot cheaper to get everything in as you build compared to renovating and adding on to an existing structure.

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Buying a House

  • Convenience

Talk to any realtor in Taylorsville, UT, or any location in the country and they will all tell you the same thing: it is easier to buy a house than build one. On average, it takes seven months to build a house. Between the time you move out of your former home and into your new one, you are going to have to look for a temporary house or apartment to rent during this gap.

If you buy one, the gap will be a lot shorter and you can move in a matter of weeks after the initial offer.

  • Less Stress

While there is still paperwork to do and documents to accomplish, it is not as tedious and stressful as processing documents for building a house. You have fewer decisions to make about the house since it is already built and ready for occupancy.

If you want to upgrade and update certain areas in your home, you can do so gradually at your own pace when you have the money and time.

  • Negotiate for the best possible deal

Realtors can negotiate on your behalf to get you the best deal on the property you want. Their extensive knowledge of the market coupled with their years of expertise makes them the people best qualified to assist you. They can help you get more bang for your buck.

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Whether you choose to build or buy a house, it is recommended you work with experienced and trusted professionals – a realtor if you’re looking to buy, or a contractor if you want to build. Working with experts who know what they are doing will help make the entire process smooth for you.

At the end of the day, the choice will depend on your personal preferences and limitations. Buying or building a house entails different pros and cons. You need to do your homework to make a well-informed decision. After all, you wouldn’t want to feel like you wasted all your hard-earned money on a bad deal.

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