Pros & Cons of Building a Home

Pros: Customization, Resale Value, Energy Efficiency

Customization. The biggest advantage to building a new home is that you get something tailor made for YOU. From floor to ceiling the home will reflect your style - no expensive updates or remodeling necessary! 

Resale Value. Since newer homes typically require fewer updates and less maintenance than older homes, they are more appealing to most people, which means new homes usually have a higher resale value than older homes.

Energy Efficiency. Thanks to new regulations and innovations, new homes are much more energy efficient than older homes. And better energy efficiency can save you money on your utility bills and is good for the environment.

Cons: Time, Money

Time: Building a new home is a process that takes time, energy and money. From breaking ground to moving in, the average new build takes from 6-9 months. And delays are inevitable. There are also myriad decisions to be made, from picking a builder and a lot, to selecting every detail from floor to ceiling. And each of these decisions has potential to increase costs. 

Money: The initial higher cost of building a home can be a drawback for many buyers. A good builder should provide options to help you reduce costs, including offering a variety of materials and fixtures at different price points. Buyers should also note that any design selection out of the ordinary or any last minute changes will cost extra. 

The Bottom Line

If you decide to build a home, don't do it alone. Be sure to mitigate the risk that the project will go over budget or take longer than expected by working with a professional real estate agent who will represent your interest in the process.