Fewer people are building new houses than buying existing ones in 2023.
The biggest reason for this has to do with ever-increasing mortgage rates. People can’t necessarily afford to build their dream homes when rates keep increasing, but that means they’re settling for less adequate homes at lower price points.
As rates come back down, builders are optimistic that more people will opt to build a house instead. In this post, we’re going to tell you 5 reasons why building your home is the better option. Home construction might sound like a lot of work, but keep reading and you’ll see how you can benefit.
1. Build a Home You Love
Building a new home from the ground up means you get to customize every feature from the look of the exterior down to the faucet hardware. You can never truly customize an existing house, which makes it hard to get your dream home.
Home construction is a huge undertaking, but it’s also one of the most rewarding things you can do. Every decision is yours, so start with the big stuff and create the best plan for you and your family.
2. It’s a Brand New House
When you buy an existing home, you have to get an inspection. If the home is a bit older, this inevitably uncovers issues that need fixing. Even small things, like an aging HVAC system or thin windows, cost thousands to replace after you’ve purchased the home.
There’s something comforting about living in a house that you know is brand new. You don’t have to worry about crucial components of the home needing replacing because they’ve never been used before.
3. Long-Term Savings
Most homeowners think that building a new house is too much work and too expensive, but this isn’t true at all. In fact, new builds aren’t necessarily more expensive at all, as it depends on the type of house that you’re building.
That’s the real beauty of building a custom home. You decide where the money goes and where to cut costs.
4. Move-In Ready
Existing homes are often marketed as being “move-in ready,” but this is never actually true. There are always things here and there, however small, that need replacing as soon as you get there. Whether it’s a coat of paint or new floors depends on how picky you are.
New builds couldn’t be more move-in ready. Of course, you have to go through the process of building it, but once it’s done, there’s nothing else to do but move in and enjoy it.
5. Integrate the Latest Trends
You get to integrate whatever home design trends you want into your custom-built home. You can shop here to get gorgeous cladding boards, which have become a big trend. You can also integrate things to make your home more energy-efficient.
Your custom home will never look dated because you’ll be able to adhere to your favorite design trends. If it ever comes time to sell, these choices will pay big dividends.
It’s Time to Build a House
As mortgage rates calm down, it’s going to get better and better to build a house you can call home instead of buying. These are just a few of the perks of building a custom home, but there are plenty more that we haven’t delved into. Start designing your home and you’ll see the world open up before you.
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