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Should I Buy or Build My Next House?

Whether you’re ready to purchase your first house or you’ve outgrown your current home, it’s time to decide: should you buy a pre-built house, or customize and build a new house on your own land?

Building a new modular home with Carolina Custom Homes of Burlington will allow you to get your dream house for less than the cost of a traditional stick built home, and save you from the hassle and expense of renovating an older home.  

Whether you choose to build or buy, below you’ll find some of the pros and cons of each to help you make a decision.

Buying a House

Pros

  • Convenience is an important factor to many home buyers. Buying a house rather than building comes with fewer decisions to make.
  • You can move in sooner when buying a home. Timing may or may not be an important factor in your decision to buy or build. If you are relocating to start a new job or school, you probably won’t have the time to wait for your new home to be built.
  • There is no need to locate or purchase land if you buy a house that is already built.
  • Buying a house usually has lower upfront costs when compared to building a traditional stick-built house.

Cons

  • Older houses can have hidden problems that can mean costly fixes, either upfront or over time. Toxic building materials such as asbestos, outdated plumbing or electrical systems that don’t meet building codes, and evidence of underlying structural damage are all potential problems that come with buying a home. Hiring a building inspector to look through the house can help, but an inspection won’t catch every issue.
  • An older, outdated house will have a lower resale value than a newer, more updated home. New home-based technologies and advances in energy efficiency are highly desired features for home buyers.
  • Your new home will likely be less energy efficient than any house that you build. Not only does an energy efficient home help the environment, it also saves you money on your utility bills. Upgrading a home to become more energy efficient can be costly.

Building a House

Pros

  • Customization is one of the best advantages of building a home. While you can always renovate an existing house, building a house allows you to customize every aspect of your home from start to finish.
  • Newly built houses are going to be much more energy efficient than an older house that you buy. This will save you money on energy bills, and prevent expensive HVAC repairs or replacements.
  • Building codes and regulations on materials are always changing. When you build a house, you’ll know everything in your home is up to date, follows the most current building codes, and won’t contain any toxic building materials, structural issues, water damage, pests, or mold.
  • New houses are more likely to have the updated features and finishes that provide a greater resale value. When you’re ready to sell, you won’t need to spend much on upgrades.
  • It can actually be cheaper to build a house if you choose a modular home over a stick built house. A modular home allows for the same level of customization with lower overall costs and a shorter timeline.

Cons

  • Building a home has a longer timeframe than simply buying a house that’s already built. Modular homes take on average 3-4 months to build, and a stick built house can take 6-12 months on average. However, the customization you get out of it will make your home more likely to fit your family for longer.
  • You’ll need land before you can start the planning and construction for your new home. When you build a modular home with Carolina Custom Homes of Burlington, all you need to do is pick out the land you want, and we’ll take care of the rest!
  • Building a home is a more involved process than simply buying one, especially if you want customized options. That means more decision making on your part. Your builder or housing consultant can help guide you through the decisions of building a home

When deciding whether to build or buy your next house, it often comes down to key factors such as cost, time, and your own wishlist. If you want a home that’s energy efficient, meets quality standards, and is customized to fit your style, consider building a modular home.

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