To build or buy, that is the question. Both options have pros and cons, and we'll share our expert opinion on a few things to consider to help you make the best decision. 

Exploring the Pros of New Construction Homes

One of the big pros of designing and building a new home is your ability to tailor the floor plan to your life. Perhaps you want a home gym, the perfect office, a butler pantry for all of your entertaining, an open concept or a closed concept, or a storage space for your blender that you use every single day to make a smoothie—all things you can customize when designing a new home. Read our 5 Tips for Creating a Functional, Flexible Custom Floor Plan for ideas.

As a designer, another big pro is choosing the finishes that fit your style, whether that be tile, countertops, paint colors, or lighting and plumbing fixtures. 

Evaluating the Cons of New Construction Homes

One of the biggest cons of new construction is the cost—it doesn't come cheap. If every design decision isn't made before you start building, there can be a lot of big surprises when it comes to the budget as well, and nobody likes surprises when it comes to a construction project. This is why we strongly encourage our clients to let us complete the entire design process before they get a bid; otherwise, the bid is just made based on a bunch of guesses and assumptions. 

Another big con is the stress that accompanies a project of this magnitude. If you have ever built a new home, you know exactly what I'm talking about. We've not counted the number of decisions that have to be made when designing and building a new home, but it's in the multiple thousands. This can completely overwhelm most people, especially since it isn't their area of expertise.  

Uncertain timelines are another factor that can add to the stress of a new build.  Many people rent during this process and have constraints around their lease start and end dates. The uncertain timelines that typically come with new builds can add a lot of stress to an already stressful project.

Discovering the Pros of Existing Homes

The great thing about existing homes is that you can usually find options that are move-in ready. They typically come with a cheaper price tag than a custom home build, which is also a big plus. You also might have a better chance of finding that house with the historical charm you were hoping for or a more established neighborhood. While you can build a new custom home in an established neighborhood, those lots or tear-down houses are usually more difficult to find.

Examining the Cons of Existing Homes

One of the biggest cons of buying an existing home is that it may not have the finishes and fixtures that you would have picked. Even if it has been updated, it still may not be a choice you would have made. After all, who likes paying for someone else's selections for new countertops and lighting fixtures?  

Another con of buying an existing home is the floor plan. It isn't tailored to your life and is highly likely to be outdated. While the closed concept is making a comeback, a lot has changed with how we live in our homes today compared to many years ago. Don't forget to consider that you likely will have a higher maintenance cost with an existing home and the potential for more repairs.

We're happy to talk with you about these options. Maybe it makes sense for you to tackle a custom home build, or perhaps you love your neighborhood, and it makes more sense to stay put renovating vs. moving to a new house.

If you would like a professional's opinion about your next home, we would love to help. Reach out, and let's chat about the options!

Until next time,

Wendi