To Buy, or to Build a Home? That is the Question!

To Buy, or to Build a Home? That is the Question!

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Owning a home is one of life’s major milestones. When you decide that it’s time to own a home, you have to weigh the pros and cons of either buying an existing home, a new home for sale or building a brand new home. Here are a few factors to bear in mind before investing your hard earned money in a home. After all, the choice you make will determine your home and your neighborhood.

Location

Building your own home may not be as convenient as buying an existing house as you will have to search for land. In the case of an existing home, you are likely to get one in an established neighborhood. It’s also likely the home will have mature landscaping, unlike a new home where you have to start planting shrubs and wait for trees to grow. Either way, you can build a custom home on a new piece of land or do a knockdown rebuild.

Cost

Buying an existing house is often considered to be cheaper than building. However, you may not get exactly what you want. Unless you find an existing house that meets all of your needs. You will have to spend additional money on repairs, remodeling, landscaping and or decorating. These additional expenses will only add to the total cost.

Energy Efficiency

When it comes to energy efficiency, a new home builder will make the home more efficient in terms of insulation, air filtration standards and HVAC (heating, ventilation, and cooling). Better efficiency is good not only for the environment but also for your pocket. An energy efficient home can save plenty of money on utility bills each month.

Maintenance

Although the initial cost of building a house may be higher than buying an existing house, a new home will require less maintenance and fewer repairs. Most new houses also come with a warranty. In the long run, you save both time and money by building your own home as compared to buying an existing house.

Integration of New Technology

Unlike an existing home, which may require an entire overhaul to integrate with technology, a new home gives you the options to install or make accommodations for future technology upgrades, such as solar and automation. That means you have the option to build with certain materials that incorporate the most recent technology and are less harmful to the environment.

Even if you plan on building, you may end up finding an existing home that’s a better fit. Conversely, you may have set your mind on finding the ideal existing property but end up deciding to build exactly what you want. Either way, it’s crucial to work with competent and experienced professionals. If you’ve come to the conclusion of building a new home come discover HomeWorld. We have a village of brand new homes with over 40 new home builders with new homes for sale to view in person. Visit www.discoverhomeworld.com.au for more information.

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