When people think about their dream home, they usually consider simply buying a pre-made house, either furnished or unfurnished, that they get a mortgage for and pay off that loan each month. Nonetheless, this isn't the only option. You can also buy a piece of land and consider the option of building a house from scratch, instead. If this is something that interests you but you are not one hundred percent sure about, read the four key reasons below why you should seriously consider going for it.
Why You Should Consider Building a House from Scratch
The Plot Is Cheaper
While it is cheaper to buy a pre-existing home, it is somewhat cheaper to get started with building a house from scratch as all you need to own is the land. This means that if you can take your time with the build, this will be less money spent in the short term. With careful planning, sourcing the right materials, and finding the right construction crew to work with — or even having a go at building the house yourself with the help of family and friends — there are many ways to cut down on the costs so you aren't spending so much in one go.
You Can Build it to Your Specifications
Sometimes, no matter how hard we look, it is hard to find a house out there on the market that looks exactly like the one that we want. When building a house from scratch, you can make sure that everything — from the number of bathrooms to the size of the kitchen — is built exactly to the way that you would like it. This allows you to truly have the home of your dreams. To look for house plans to inspire you, click here.
You Can Still Get a Mortgage
Some people assume that you have to fund a house you build yourself with alternative finance like cash, loans from specialist sources, and so forth. The truth is, you can still get a mortgage for a house that you’re building.
What’s more, you’ll find that some lenders offer favorable mortgage rates, so building a house from scratch can still be an attractive option compared to how most individuals buy homes.
You Can Put Energy-Saving Measures in Place
Given the urgent need to build sustainable homes due to the climate crisis, it is important that your new home is energy-efficient, which is both good for the environment and for your wallet over time. When you build a house from scratch, you can truly design it with the future in mind. Whether it's rain-collection, solar roofs, smart controls or auto-lights, there are a whole host of ways to use the environment to your advantage, potentially saving you more money over time than buying a new house that has a far larger and far more expensive carbon footprint.
No Need for Repairs
When buying a house on the secondary market, there might be the need, especially if it is an old house, to do a variety of repairs or some remodeling work.
This can be more complicated than building a house from scratch if the damage to the house is extensive. A newly built house should be built to today’s advanced standards, meaning that when you move into your new house, it will be several years before you even have to make the first repair, potentially saving you more money in the long run.
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