Home » First-Time Homebuyer Guide » Building vs. Buying
What are your house plans? Here are some things to consider when it comes to building vs. buying a home.
Customization: The primary advantage to building a new home is that it can be built to your specifications.
New Materials: A new home will have new wiring, new plumbing, and will be up-to-spec with building codes. They are also more energy-efficient than older homes.
Costs: Although purchasing a home may be less expensive upfront, once you include renovations, maintenance, and upgrades, it could be more expensive than building.
Negotiation: Buyers often have more room for negotiating a price, something that is rare when building a home.
Move-In Ready: In many cases, homes come with appliances, and even have other features such as fences and landscaping.
Shorter Process: Buying can be less stressful than building, and often takes only 4-6 weeks. Building a home could range from four months to over a year, and many things can go wrong during the construction process.
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©2017 FORUM Credit Union