Interesting Articles
Should you buy or should you build?
If you're looking for a new home, one of the options you may be considering is building your own home rather than buying an existing one. While there are many advantages, there are also some potential pitfalls. Building is not for everyone, and like any other major decision, it pays to do your homework first.
The upside
One of the biggest advantages of building your own home is that you will have the opportunity to get involved in the process and add your own touch to the design. While buying an existing home is often a compromise, by building your own home you may be able to get more of the features you want (however, unless you have an unlimited budget you will realistically need to make some tradeoffs).
When you're building a new home you're also not inheriting any problems that may exist in an older home (and which you may not be aware of until you move in). If there are any problems, the building work should be covered by a warranty (it pays to make sure it is covered before you sign up with your builder) and so should the fittings and any new appliances. Some people also just like the idea of having a brand new home and being the first to live in it.
The downside
It's a lot easier to buy an existing home. Many people find the building process quite stressful. It takes a long time, things can go wrong and it often takes more time and money than expected. No matter how well you've planned and discussed beforehand, there are always lots of little decisions that you haven't thought about and that need to be made along the way. And no matter how detailed the plans, it's hard to really know how things will look until they're built - so the reality may not always be exactly what you're expecting. It doesn't stop when the house is built either - you'll have to landscape your grounds as well.
Most new homes are built in new subdivisions where a number of other new homes are being built. Unlike established subdivisions, it can be hard to know how your area will look in the future. If you have a view, newer buildings could block it out or at least make it less appealing. And even though the home is new, there can be 'teething problems' - while the warranty should take care of these, it can be stressful all the same.
The verdict
Like anything with buying a home, it comes down to what's really important to you. Both are viable options - the key is to know what to expect, and plan accordingly.