Wondering if you should build or buy? 5 questions to ask yourself to help you decide!
1. What’s your timeline? Do you need to be in a new home by a certain time? If so, buying might be a better choice. Building from the ground-up takes time! According to Realtor.com, the average home takes 3-6 months. If you’re on a strict timeline, building a new home might not work. Check with your builder to get a realistic timeline before you move forward.
2. How important is customization to you? If you have a very specific vision for your home and don’t get bogged down by the details, building a new home might be a great fit! Be ready to make big decisions about your floorplan, paint colors, hardware, flooring options and appliances! For some, this is overwhelming. For others, it’s exhilarating!
3. Do you care about the appearance of your landscaping? If you build a home, your yard is also starting from the ground-up! It can take a lot of time and a lot of money to turn your construction lot into the lush, green yard you probably dream of. However, if you purchase an existing home, the landscaping is already finished and typically filled with mature trees and established plants.
4. How handy are you? An existing home is most likely going to require more maintenance than a new construction home because of its age. But if you’re willing to put in a little elbow grease, you could be getting a great deal on a wonderful home that just needs a little love! Make sure to have a full inspection before you close to make sure there are no surprises once you move in.
5. What’s your budget? While a new construction home may be more expensive up front, an existing home may need large repairs (think new roof or HVAC) down the road that can add up. Think about your initial costs, monthly costs AND potential long-term costs before making a decision.
When you’re ready to search for a new home or lot to build your dream home, contact the MARCUMsold team! We can’t wait to help you find your perfect fit!