When shopping for a residence, buyers need to decide whether they go with an existing home or build a new one. Admittedly, it’s not easy as both have their pros and cons.
Here are some things to consider when weighing your decision.
A new custom home on a chosen parcel of land means you can design and locate everything to have the best natural view.
New construction allows you to customize it to your specific taste. Consider the options available to you such as number of windows, front door placement and size, sliders or bifold to deck and patio, even the angle at which you want the garage set.
A custom floor plan lets you locate where you want the bedrooms, such as a primary on the main floor, and kids and guest room on the second floor or on the opposite side of the home. With so many people having a hybrid work schedule, you have the option of a dedicated office area. Like to workout? Then space can be allocated for your treadmill, bike, weights, etc. Whatever your interest, hobbies, or work needs, you have the ability to designate space for them.
You also are able to select exterior and interior color choices, countertop material, cabinets, flooring, kitchen and bath fixtures, overhead lighting, hardware choices, and more. While this entails a lot of decision making, you are getting exactly what you want.
Building new also allows you to pre-wire your audio, video, home network, and security systems.
An advantage a new build offers is energy efficiency with the latest technology leading to overall lower energy bills. Plus, walls, ceilings, and floors are insulated.
Once you move into a new home, you will have little to no maintenance for 10 to 20 years. No worries about leaky roofs, hidden mold, lead paint and asbestos behind the walls, and poorly functioning HVAC systems.
Maybe best of all is you are the first residents of a customized home with everything fresh, clean, and sparkling!
Other Aspects to Consider
First is the time frame. New home construction requires time for approvals and permitting, site preparation, and all phases of construction. Depending on the scope of your project, your build may take up to 24 months to complete. Patience is key.
The elements you love about building new – all the customized choices – can be stressful for some.
If you are in an area where there is a lot of new construction going on, you will have to put up with dirt, dust, and noise before things settle down.
Your landscaping – lawns, trees, shrubs, and plantings –will take time to fill in as well as being an added expense.
When building new, you are also paying for your current residence in addition to construction costs.
When building new it’s tempting to add all the bells and whistles, which can quickly go over your means. At Balsitis, we offer advice when your choices may result in cost overruns. In addition, our Open Book Policy allows for a fully transparent process. All fees, material costs, subcontractor charges, and more are provided.
Existing Homes Have Advantages (and Disadvantages)
The advantage of an existing home is that, after closing, it’s ready for you to move in. No wait time, no temporary housing, no furniture storage fees.
The price of an existing home is often – not always – negotiable. Should inspection reveal items that need repair, you may get the homeowner to cover the cost, or lower the sale price.
Location, location, location! You have the option of choosing where you live – urban, rural, or small village, not always possible with a new build.
But, because it is an existing home, you will be dealing with repair bills sooner or later. The roof may leak, the HVAC may be faulty, and the windows could be drafty. With an older home, if you are opening up walls, you may encounter asbestos and haphazard electrical. Plus, if the plumbing runs through galvanized pipes, they will eventually breakdown.
An existing home more than likely will need updates to fixtures, faucets, countertops, paint colors, and the like, leading to a major renovation. If you renovate, that cost added to the buy of the house itself, can possibly add up to more than new build.
Whether you choose to build new or renovate your beloved existing home, the Balsitis Contracting team is your go-to source. We take pride in making the process of building a custom home, completing a whole house renovation, or creating a home addition an enjoyable experience for every homeowner with whom we work. Whether you’ve got a custom home in mind or just want to explore what’s possible, call 262-203-3952, e-mail info@balsitiscontracting.com, or contact us online.