An Information and Instructional Guide
Chapter 2 – The Decision to Build
Build versus Buy versus Renovate
How did you arrive at the decision to build your own home? Has it been a life long dream? Did you become too frustrated while looking to buy a house already built and on the market? Did the cost of desired renovations cross the line to “Let’s start from Scratch”? Did your brother-in-law, friend or neighbor build their own house so now it’s your turn? If you decide to go ahead, understand that building from scratch is not the quick and easy alternative. It takes time, patience. knowledge and solid financial footing.
Can you purchase an existing house?
- There are a lot of existing houses for sale out there. Some are old, some are brand new and some are in-between. Have you done a thorough search to be sure what you are looking for isn’t already just sitting there somewhere waiting for you?
- Did you look at a enough homes or did the realtor limit your selection?
- Are you looking to be in a specific area?
- How important I it to be near a school, work, shopping, relatives, friends?
- Do you want a home with a lot of unique features? What are they?
- Do you want a combination of amenities that you just can’t find already built and available? If critical elements that you are looking for are already in an existing house may be a better option due to the time requirement and financial commitment involved in building a new house.
What about renovating your current home?
- Can you add-on a new room and redo one or two other rooms to get what you are looking for. If it only takes a few key changes the process will be quicker and cheaper.
- How much is too much? When does the total cost push you across that invisible line? If you are looking for a lot of changes the piecemeal theory may not work and may not even be an option (especially if exterior additions such as decks, pools and patios are involved).
- Do you just need a lot of changes and want them to be your own?
So, if you decide that renovating doesn’t make financial sense and that the house you want is not already out there, then you have decided to build your own home. Congratulations on pursuing the great American dream.
Home Comments Terms of Use Copyright