Buy a House vs Build a House: What Are the Differences?

Did you know that America requires 4 million homes to accommodate current housing demands? 

The housing market has been competitive and cut-throat for a few years, leaving some wondering if it’s better to build. 

If you want a new home, you should understand the pros and cons of each option. 

Keep reading if you can’t decide if you want to buy a house vs build a house, these factors can help! 

Timelines

One of the key differences if your buy a house vs build a house is a timeline. 

Building a home takes significantly longer for you to move in than if you were to buy an existing home. When you’re on a tight deadline for move-in and out dates, it can make building risky since permits can get delayed. 

Another reason new homes have extended timelines is for inspections from several contractors. When people sell their homes, they’ve typically already been inspected and have upgrades. 

If you’re wondering, can I sell my house fast, a few options will help you meet deadlines. 

Costs 

Depending on where you’re property is, it’s often cheaper to buy a home rather than build one. 

A house building guide can help you determine the average cost, based on your location and floorplan. You can also get quotes from contractors to see how much you will need to spend on labor and materials for the building. 

When you buy a home, the math is much simpler. Since you won’t need to account for every little cost, you will save money and time. Take a look at your budget to determine the most suitable choice. 

Customization 

No matter how big or small the home is, you can have full customization if you get it built. 

Building a home is fun and exciting because you can bring all your ideas to life. As long as your contractors have the materials and experience, they can build you a beautiful library or fun man cave. 

Buying homes won’t offer as much customization, but each home will come with unique features. While you view homes, look for characteristics that stand out and impress you. 

Landscaping Needs 

If you aren’t a fan of yard work and want to move into a home that’s ready to go, you should buy instead of build. 

Your home will get built on an empty lot and unless you plant seeds or pay for grass, your yard will be dirt. Buying an existing home can save you a headache, especially if the previous owner did a good job maintaining the yard. 

Do You Want to Buy a House vs Build a House?

Whether you want to buy a house vs build a house, there are pros and cons to each option. 

Building a home gives you more customization and can make your dream home a reality. Although your options may be limited to existing homes, they are much more affordable and don’t need as much work. You can avoid dust and planting flowers by getting home already on the market. 

Don’t forget that renovations on existing homes can cost around the same amount as if you were to build. 

Make sure you read our blog if you want to read more about buying a new home that your family will love!