There are pros and cons to both buying or building a house, and deciding really comes down to personal preference. In today’s market, the prices between building and buying a home are comparable.
One major difference is that building a home means no immediate renovations; when you buy an older home, chances are you’ll find something that needs to be repaired, updated, or replaced, and these renovations can really add up.
Many first-time homebuyers are concerned about the amount of time it takes to build a house. While a modular home does take an average of 3-4 months to complete, renovations in an existing home can take just as long (and you’re often forced to live in the house during the renovation process to save money.)
A common mistake that many first-time homebuyers make is taking the maximum home loan available to them. Your bank may offer you more than you can afford, which can lead to extra fees and larger monthly payments. Look past your total loan qualification and instead take a loan with a mortgage you know you’ll be able to afford.
Making the decision to build a house is exciting, but it also comes with its fair share of worries. There are so many things to think about and so many decisions to make. That’s why we’ve decided to help get you started with some important reminders!
Don’t build a house that’s too big – you’ll waste space and have less money to spend on the finishes of the house. Use your funds to create focal points in your rooms, like built-in cabinetry or a fireplace, with nice details (but not so much detail that it feels too “busy”).
Unique trim and moldings can really enhance your space, so keep them in mind. You’ll feel more comfortable in a smaller, intimate space with beautiful touches than a large, empty room.
To maintain comfortable temperatures in your home, you need to insulate interior walls. Also, pay special attention to plumbing – if you want to avoid unwanted sounds of flushing toilets, for example. Add closets between bedrooms or built-in bookshelves (books will absorb sounds) for further sound insulation. It’s much cheaper/easier to do this now rather than later.
Make sure you choose the right locations for your outlets. They should be easily accessible and in a place where furniture can conceal them. It would also be a good idea to have outlets on the outside of the house. Depending on how creative you want to be, you could even opt for outlets inside drawers. There’s nothing more inconvenient than a house with too few outlets.
Never underestimate the power of natural light and ventilation (and the power of building code rules and regulations which will require that you have a specific amount of both for certain rooms). The circulation areas of your homes, like hallways, need natural light as well. Not only is it a necessity, but it makes your space feel much more open and natural. If you’ve ever seen a room with floor-to-ceiling windows, you’ll know just how much the light transforms that area. In short, a sufficient amount of windows is a must.
Let’s talk about these in a little more detail. You’re going to be looking through them all day, so that saying “quality over quantity” is still very relevant here. It’s worth investing in windows that are appealing and reliable. Keep the type of window consistent throughout the house and make sure they’re well-placed. Out of reach windows are going to make opening, closing, or cleaning them a lot more difficult than it should be.
We hope this we’ve answered some of your questions (some you may not have realized you had!) and given you new ideas for your future home. Creating your perfect space takes a great deal of time, planning, and effort, but you’ll get there. And when you do, you’ll see just how much it was worth it.