Pros And Cons Of Building A House

If everyone had the opportunity, they would likely do what they could to live in their dream house. However, building your dream home can be stressful, expensive, and exciting. There are many pros and cons to building a house, and you must weigh them before making a decison.

The biggest pros of building a house include the location options and creative freedom that doesn't come with buying an already built home. Building a house also has its downsides, like the long wait and time commitment it requires. While building a house is more expensive, you won’t have to spend a fortune on repairs for quite a while.

That’s because the foundation, floors, plumbing connections, and wires are brand new. It’s important to weigh the pros and cons of building a house before committing to such an expensive, involved process. Follow along as we explore everything you must know about building a house.

Benefits Of Building A House Versus Buying A Built House

There’s no denying that building a house is an exciting, albeit stressful, process. Building a house comes with many key benefits that some believe outweigh the cons, and that includes:

Creative Freedom

It’s hard to find an existing house that meets all your specific needs. After all, everyone has different tastes, which is why building a house appeals to so many people. When designing a home, you can direct and oversee the process to ensure everything meets your needs. This involves working with an architect and designer, which is a fun process. That said, it’s important to carefully research architects and designers before choosing them. Today, that’s quite easy, as you can find many reviews and testimonials online.

When buying an existing home, you will likely spend thousands of dollars on renovations to meet your specifications. Depending on the necessary renovations, it may be cheaper to design and build a house from scratch. That’s the only way to ensure your new home is exactly what you want.

No Need For Immediate Repairs

While every home eventually requires repairs, you won’t likely need to make any for a while after building a house. That is, of course, unless there are installation problems due to human error, which is normal. Newly constructed homes are like blank slates, and everything should be clean and pristine.

Conversely, you may need to make many repairs upon moving into an older home. Many underlying problems are undetectable during the inspection phase when buying an older home. Nobody likes surprises, and you can largely avoid them when building a house. When building a house, you know exactly how old everything is and what materials were used. Keep track of this information, so you can easily maintain everything before problems arise.

Location Freedom

When buying an existing house, you may have to settle for a great house in a bad location, or vice versa. When building a house, you get more freedom to choose a location. Naturally, this varies based on how many lots are available in the area you choose. This is particularly appealing to people who want to live in remote areas, where they have more options. Such freedom can also help you avoid a Homeowners Association (HOA), which is a plus in itself.

Disadvantages Of Building A House

Building a house has just as many downsides as benefits, but these disadvantages may vary. However, the process of building a house has a few universal cons, such as:

High Upfront Costs

The high upfront costs of building a house can be prohibitively expensive. Naturally, the cost of building a house varies based on location, materials, timeline, and local regulations. When building a house, you must typically spend up to 30% of the total construction cost upfront. This ultimately depends on the construction loan you get, so it varies between lenders. However, the upfront costs are typically much higher than the initial costs of buying a house. After all, purchasing the land and clearing it can be costly.

You’re also at the mercy of the economy, as supply chain issues can make the process more expensive. This can cause other issues if such problems occur after the initial estimate and design phase. You may end up spending more on materials than you anticipated, and turning back isn’t an option at that point.

You Must Wait Longer

When building a house, you’re there every step of the way, and it’s a long process. Even the design phase can take a long time, which can be discouraging. This is largely why so many people prefer buying an existing house. The long wait can be equally inconvenient and expensive, as you must stay somewhere throughout the process, either at your current home or rent a home until construction is done.

This can involve living somewhere that you’re dissatisfied with for longer than you initially thought, as construction delays are common. Building a house typically takes 6-12 months, but it can take upwards of 15 months. Of course, the timeline varies based on the home's size, location, and the weather. Waiting for your dream house to be done takes a lot of patience.

The Process Is Demanding

Buying an existing house is stressful and demanding, but it doesn’t compare to the stress of building a home. That’s because you must be involved during the entire process, but it’s especially demanding in the beginning. You must sign off on every major decision, approve designs, and respond to countless calls and emails.

This comes with a lot of stress and responsibility, which can be a lot to handle. Naturally, you can’t pause your other responsibilities, which you must manage alongside the design and construction process. Granted, your involvement will likely slow down once construction begins. That said, construction delays and mistakes can take you right back to the stress of the design phase. Building a house is worth it, but you must prepare for how demanding and stressful it is.

Summing It Up

Building a house carries benefits, such as creative freedom and more location options. However, it also has downsides, including the high upfront costs and long wait times. The process is quite demanding and stressful, but it should pay off well in 12-15 months when the house is done.

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