You’ve found the perfect place to live and now you’ve got a dilemma: do you buy or build? Most people who feel they’re ready to settle down, that is, stay in the same place forever, like the idea of building because it enables them to put everything they want into the home that they’ll ever need; however, as with anything, there are pros and cons to building.
Why People Buy a Dream Home Instead of Build
First, it’s important to realize that the expression “dream home” is exactly that…it’s a dream. No home, not even the one you build, will be perfect. You’ll eventually find something that you could’ve, should’ve, would’ve done differently or better. Instead, you’re building or buying your ideal home.
This is part of the reason some people opt to buy real estate rather than build. Other reasons include:
- Timing…obviously, it’s much faster to buy a home and move in rather than build one
- Cost…at least one the front-end, it’s cheaper to buy an existing property
- Location…if you want to live in a historic or existing district of town, you usually have to go with what’s there (or plan to build in a fixed architectural scheme, such as if you wanted to live in the community of Alys Beach)
Of course, there are cons to buying, which include that you’ll have to do updating (sooner than later); additionally, the home (unless renovated) won’t have the most modern wiring, plumbing, technology, and appliances. These aren’t major issues, but they are a couple of reasons some people would rather find the right piece of land and build.
Pros of Building Your Dream Home
Discovering the right space is largely a reason people choose to build. They fall in love with a piece of land or property and buy it knowing that one day, it’s where they’ll want to call home.
Other pros of building your home include:
- You can work with builders to choose or to design your home’s floor plan and layout, materials, amenities, etc.
- Almost everything installed in the home will be under warranty
- Your home will be up to code in terms of plumbing and electric
- You can customize your home with safety and security options (such as being resistant to hurricane and storm damage)
People who build their dream real estate also tend to have a greater fondness for their home than those who buy.
Cons of Building Your Dream Home
Of course, nothing is completely ideal. Common “cons” of building include:
- Cost…it’s usually more expensive to build than buy (though, if you figure out deductibles and such, you can ameliorate some expenses)
- Timing…it can take several months to a year (or longer) to go from planning to completion. Weather and other issues can cause delays.
- Limitations….you’re building your “dream home” but you can’t do everything exactly the way you want due to coding issues or some other complication, which can be frustrating.
How to Decide What to Do
So, what do you do? Well, first figure out what’s more important to you: the property or the house that’s on it. Next, talk to a local real estate agent and find out what’s available to buy as well as what options and other considerations are when it comes to building.
There’s no better place to call home than 30A, which is why many choose to buy or build real estate here. Contact local real estate expert Melissa Clements to find out what houses are to sale and what your property development options are.