Buying A Home Vs Building One

If you’re reading this, there’s a high chance that you have made multiple financial accomplishments throughout your career, and you now consider the possibility of buying or building a new home. If so, you’re in the right place. In this post, we’re going to take a look at the pros and cons that are associated with buying a new home vs. building a new home.

Buying A Home

The process that’s associated with purchasing a new home can be as simple as to look into the real estate section of your local newspaper, as to which you would subsequently contact the listed realtor so that you can talk about the specifics surrounding the price of the property that they have to offer.

buying-a-home

Pros

This level of convenience is the biggest advantage you will gain if you choose to purchase a new home. As a matter of fact, if your offer is accepted by a realtor, you can be living in a new house in as little as 30 – 60 days from the original date of purchase. Additionally, homes that have been established typically reside in mature neighborhoods that feature various attractions. The whole concept of acquiring a home in a mature neighborhood also has its own sets of advantages when it comes to certain areas such as landscaping, which usually comes complete and mature, vs the concept of establishing a new home, where you would have to spend additional funds so that you can create your landscape. The other option is to add a home extension which can be an effective way to improve your home and lifestyle.

Cons

However, the one of the cons that are associated with buying an existing house is that it more than likely will not feature the amenities and rooms that you always dream of, but rather what someone else dream of, when they created the home themselves. Meaning that, you may have to deal with a home that features a floor plan, that may not match your exact desires. Additionally, existing homes, some of which have been around for decades, usually require renovations or some maintenance before you can get them up to your standards.

Building A New Home

With the abundance of Custom home builders Adelaide like LangHomes.com.au each offer various predefined floor plans, the potential to build your very own dream house has never been easier. By working with custom home builders Adelaide to build your home, it while allowing you to have things exactly the way you want it.

Family at Their New House

Pros

One of the major advantages that’s associated with building a home from the ground up is that everything will be brand new, from the floors to the walls, to the appliances and the roof. This in itself can help to save you thousands of dollars in maintenance/renovations related costs, which goes hand-in-hand with purchasing an existing home. Additionally, many people who reside in a home that they built themselves proclaims that there’s a certain degree of emotional fulfillment that they feel when they look at the fact that they live in a home that features all the things that they ever dreamed of. It’s also worth noting that many financial experts proclaim that individuals who elect to build a new home will receive various tax and financial benefits in retrospect to Australian laws surrounding the establishment of new properties whether it may be commercial or residential.

Cons

In the same breath, many Australians who have built their home proclaimed that the project took too long and that it exceeding their expectations as far as expenses. This can be avoided by having a good project manager. It’s also worth noting that in most cases, you more than likely will have to build your home in a new neighbourhood, which means that you may eventually be living amongst the noises that are associated with the construction of other properties in said neighbourhood.