When you finally decide to stop renting and invest into your
own home, deciding if you are going to buy your first home or build your first
home can be a very challenging decision. Young families, single individuals, or
other people who have never owned a home will have little experience in knowing
the advantages and disadvantages of each of these choices. Deciding to buy or
build your first home is a difficult choice, but there are some things to consider
with both of these options.
Buying a home
Buying a home is a choice that many first time homeowners
choose. With buying a home, the purchaser does not have to deal with
contractors, locating a home site, or the other necessities that come with
building a home. Also, since the home is already built, most likely there will
be other houses already built in the neighborhood. Therefore, the purchaser
will know how the houses in his or her neighborhood will look. A pre-existing
home already has a landscaped yard that a new home will not have. Finally, with
a pre-existing home, the purchaser will be able to move in much quicker after
closing because the house is already built.
There are disadvantages of buying a pre-existing home. The
most obvious disadvantage is the homeowner will have to customize the home to
fit his or her preference. This will include painting, removing wallpaper, or
cutting trees in the yard. The purchaser also does not have any choice in the
layout of the home.
Building a home
While some may think that building a home is much more
expensive as compared to buying a home, this is not always the case. Many times
an individual can build his or her own home in an affordable price range. Some
of the advantages of building a home include working with the builder to tailor
the home to fit the purchaser’s preference, getting building discounts from the
builder, and getting a brand new home that no one else has ever owned.
One of the biggest disadvantages of building a home is the
time it takes to build the home. The purchaser may have to find temporary
housing until the home is built. Also, working out contracts with the builder
can be burdensome.
First time homeowners have lots of things to consider before
deciding to build or buy. Since this is the largest investment of anyone’s
lifetime, it is important to choose wisely.
Author Bio
Melisa Cammack is a full-time mother of three growing boys,
and loves freelance writing for parenting blogs. She and her husband recently
did some home renovations, and looked into general contractors in Montana.
When looking for advice, the experts and industrial contractors in
North Dakota were extremely knowledgeable.
