4 Reasons Why Building Could be a Better Option than Buying Property
When someone decides they want to move into a new home, there are two main choices: build your own or buy what’s available. Buying a move-in-ready home has its advantages. However, building is often the better choice, especially if you have the time to see the project to completion. Here are 5 reasons why building could be a better option than buying property.
It Can Be Cheaper
In general, it is cheaper to build a new house on an existing lot than to buy an existing house of the same size.You won’t have to pay for features you don’t want,and you won’t need to pay the builder’s mark-up. However,this will depend on the location and the type of home you want to build.A side benefit of building a new home is that you can design a house that appraises for much more than it cost to build.This can increase the equity you have in your new home.
A side benefit of building your own home is that you can design it to be incredibly energy efficient.This generally reduces your energy bills. However,you’ll certainly save on the stamp duty since you only have to pay that on the land purchase.
It Is Infinitely Customisable
When you build a new home,it is your home. You decide everything from the bedroom count to the kitchen layout. You can order a chef-grade kitchen or indoor slide. You choose the carpets and the paint colour. The home could be pre-wired for your Ethernet network or have all the extra power outlets you wish your current home had.
Work with a reputable London construction company to manage the project so that costs are kept under control and the project is completed on schedule. This is essential for more complex projects like building a large new home on an infill lot.
You’ll Have Lower Maintenance Costs for Years
When you build a new home, you won’t have to worry about maintenance for years. The kitchen appliances, water heater and other items that commonly break are all new. The home will automatically meet the latest standards on electrical wiring, siding, windows and plumbing, so nothing will have to be updated if you decide to sell the home later. You can also design the home to be low-maintenance from its garden to its gutters.
There Are No Surprises
While issues may arise during the construction process, you’ll enjoy peace of mind once the work is done. There won’t be any surprises like plumbing or electrical work that needs to be done. You won’t end up renovating the home to eliminate mould or rotting wood you discovered after you moved in. By watching it being built, you’ll learn a lot about how things are designed and installed, and this is invaluable if you do decide to do repairs or renovations later. It also gives you the opportunity to verify the quality of the workmanship and ensure that they’re using the right materials.
Whether you’re building a home for a growing family or the dream home you want to retire in, building has many benefits over buying a home that is already on the market.If you have the time,consider building instead of buying.