One of the most common questions we get asked by customers and clients is this … “Should I build a new home or buy an existing home?” The answer, of course, is it depends.
What does it depend on? The 3 Most Common Reasons People Build
Based on our experience building over 500+ homes in the South Dakota, Iowa and Nebraska over the past 20 years, here are the three most common reasons buyers decide to build vs. buy:
1. Family needs: When it comes to family needs, the biggest factor is the number of family members who will be living in the new home. Maybe your family has grown and you have more kids now than when you moved into your current home. Basically, you’ve outgrown your home and need the extra space and extra bedrooms. Conversely, maybe all of your kids grown up and have moved out, so you have more house than you need. In this case, downsizing to a smaller, easier to maintain home is desirable. Maybe you don’t have children but want to start a family soon, or you need additional room for entertaining short-term and long-term guests. Regardless of your situation, opting to build instead of buying an existing home offers you the freedom to design in order to meet your family needs.
2. Space needs: Look around your current living space. What do you hate about at it? We’re serious. The things you dislike the most will be what motivate you the most to build a new home. Is the master closet too small? Budget permitting, you can design a walk-in closet as large as a bedroom. Perhaps your family added two new drivers in the past three years, and you need more than that three-car garage you have now. Opting to build will allow you to design a garage with room for extra vehicles. Need more storage space? A larger kitchen with an island? A home office? A theater room? Anything is possible when you build a home, because you’re starting from scratch. So if having exactly what you want is important to you, building makes sense.
3. Financial needs: Buying a used house and renovating usually costs more than building a new home. Why? Because a new home contains entirely new equipment and energy saving features, therefore they generally maintain a higher degree of functionality and a more attractive appearance for a greater period of time. The new appliances also reduce maintenance costs and lower utility bills when compared to older models.
So, should you build or buy an existing home?
The key is to remain realistic throughout the process of deciding. There are so many factors to consider and we are here to help you decide what makes the most sense for you, your family and your future. Brown Wegher Construction is not one of those contractors that overpromises and under-delivers. When it comes to your budget and design objectives, you’ll hear what you need to hear — not necessarily what you want to hear. In the long run, though, we’ll both be happier.
If you have any questions or would like to schedule a free consultation with the Brown Wegher Team.