Is it Better to Build or Buy a Home?

If you are in the market for a new home, you are facing a lot of decisions. One of the first (and hardest) decisions you have to make is whether to build new or buy used. It’s important to do your research, so let’s take a closer look at whether it’s better to build or buy a home.

Benefits of Buying

As with everything else in life, both building and buying come with pros and cons. The advantages of traditional homebuying include the following.

  • Shorter Move-In Time

Most homes go off the market quickly, which means they close quickly as well. If you want to be in your new home before a few months have passed, buying a house usually delivers. However, remember to account for the closing time and selling time of your current home.

  • Ability to Renovate

Buying a used home is great if you enjoy flipping homes. Depending on the area in question, it’s possible to find good deals on old houses. Then, you can renovate and enjoy the results or sell for a higher value. However, make sure you research the housing market in your area before deciding for sure.

  • Price Negotiation

Although purchasing a used home is not always cheaper than going custom, there is a little more room for haggling. This is where your budget comes into play. Make sure you weigh the price of buying against the price of building before deciding it’s a good deal.

Benefits of Building

Likewise, building a custom home has its own share of advantages, particularly if you go modular.

  • Full Customization

Naturally, the biggest selling point of custom homes is the ability to create your dream space. Designing your floor plan, choosing your lighting, laying out your bedrooms, etc. is a lot of fun and ensures that you get exactly what you want.

  • New Appliances

Another benefit of building from the ground up is new appliances. Modern appliances and systems tend to be more energy-efficient than older models, which saves you money on monthly utility costs.

  • No Competition

Particularly if you live in a suburban area, buying a used home can be frustrating with other searchers snatching up deals. When you build your own home, you don’t have to worry about competition.

  • Less Maintenance

The newer the house, the easier the maintenance. Your HVAC system, septic system, paving jobs, etc. should all be good to go for some time.

Which One is Right for You?

Ultimately, deciding whether to build or buy depends on your personal needs. Ask yourself questions such as these.

  • What is your budget?
  • How soon do you want to move in?
  • Do you need something very specific from your home?
  • Do you enjoy renovation work?
  • Do you plan to resell within a few years?

Consider Going Modular!

Modular homes differ from traditional, stick-built homes in that they are built in a factory. When each “building block” (room) is complete, the entire house is then assembled on location.

Although custom home building is certainly not for everyone, its advantages provide a tempting investment. Modular homes in particular are affordable, quick to build, and fully customizable. Additionally, if you prefer, you can choose from preexisting floor plans for an even faster building time.

Call Next Modular Today!

If you’d like to know more about how you can save money on homebuilding, do not hesitate to call us today. At Next Modular, we know that building a new home is likely one of the most important financial decisions you will make. As an experienced modular home builder, we are committed to being your guiding light through this process.

Browse all of our Modular Home Floorplans