Let's face it. You are unlikely to find everything you want in an existing home. Whether it's your primary home or a vacation home like the one that we are building, nothing compares to getting exactly what you want (that goes for everything in life!). Here are 5 reasons why I think that anyone who is considering home ownership should at least think about building.
1 - Financing is comparable to traditional financing - Most people believe that building a house is more expensive than buying an existing one. While every situation is unique, building a house often creates instant equity through quality construction and a higher resale value for a new home. The appraisal for our vacation home came in over $40,000 than our cost to build -instant equity! And, most major banks offer a construction-to-perm loan which requires a comparable amount of paperwork and due diligence to a traditional loan.
2 - Building can actually be cheaper than buying and renovating - A major consideration when building a home is maximizing space. When you build, you don't end up with unused rooms and odd room layouts. You also avoid the "unknown" encountered in renovations when you tear down decades old walls and repair ancient wiring.
3 - Custom. Custom. Custom. - Made for you. Made for your lifestyle all the way down to placement of the HVAC vents. My builder literally wants to know our furniture plan so that every single outlet and every single vent can be placed in a away that maximizes its use. It’s a blank canvas that provides the homeowner with flexibility that is incomparable.
4 - Location. Location. Location. When you build you can choose the location first. You want to live in the best school district? You want a killer mountain view or beach front? Building your home gives you the ability to choose the location, which to most home buyers, is crucial.
5 - Efficiency - Want the latest speaker system integrated into the walls? Want a NEST or other smart home HVAC system to adapt to your use? Want to significantly reduce your carbon footprint by using green building materials or energy efficient windows and doors? A new home is the best solution to enable homeowners to incorporate the latest technology and green building innovations to lower utility bills and improve the home's function.
So, what are you waiting for? Make your next home a custom home!
Photo cred Carlton Edwards Architects Nashville, TN Nethermead Residence