Building vs. buying a home: here's how to decide
To buy a home or build a new one -- that is the question. And it's a common one.
Making the decision between buying a home or building a home can tough. Aside from aesthetic differences and personal preference, there are some practical factors to consider. To help with your decision, here are the pros and cons of building versus buying a home.
Lot & Landscape
Building a home from scratch allows you to shop around for the lot/property that is perfect for you. However, unless you are searching for homes in the suburbs, an empty lot is rare. Most "lots" in Central Austin have existing homes on them that will need to be torn down. Because you have to comply with Austin's building code, your team needs to have a good understanding of Austin's McMansion ordinance, how heritage trees can impact the build-ability of the lot, and so on. Also, you'll need to be patient; it can take 9 - 24 months to build a home.
Most existing homes have the benefit of mature landscaping. The trees are grown, the sod is established, plants and bushes accentuate the home, and if you're lucky, a sprinkler system keeps it all looking green. With an existing home you won't have to invest time and money in developing the landscaping. On the other hand, you won't have input on the layout and design of an existing home so you may have to compromise a little on the features you desire. That is where we come in to help find the perfect house that meets your criteria.
Building a new home will allow you to have up-to-date products and efficiency standards built right into the design of your home. These green building and smart home features can help reduce utility bills and energy costs.
While existing homes may lack cutting edge technology or the latest energy efficient design, most homes can be upgraded to include these features. With a strategic purchase you may even have the budget left over to make those energy upgrades.
Building Standards & Control
Not only will the materials used to build your home be new, but a newly constructed home is also built according to modern day codes and regulations. Another benefit is that you will have warranties on many of the products used to build your new home.
Many existing homes are ready for you to move in without any updating. Some, however, have older electrical, plumbing, or HVAC systems that need to be updated. An experienced Realtor can help forecast those potential issues and assist you in factoring in the cost of those updates.
You don't have to figure it out on your own.
Use our 24+ years of experience buying and selling Central Austin homes to your advantage. Contact us today for a no obligation, no BS consult on whether building a home or buying a new one makes the most sense for you.