Whether you build or buy your new home, it will undoubtedly be the largest financial commitment that you ever make. This means that there needs to be serious consideration dedicated to things like your home budget and your long and short term needs.
Building a custom home may seem like a dream come true to investors that have a specific vision. However, there are always pros and cons that go with any large purchase. Custom home builders across the world are looking for buyers that they can work with to create unique homes that fit every need.
Before you consider working with a contractor that builds the best custom homes Maryland or California has to offer, it’s important to know what you are getting into. The pros and cons of building a custom home are reflective of each buyer’s needs and dreams. Let’s take a look at a few of the things that you need to include in your decision-making process before you decide to build a custom home.
Custom Homes: The Pros
01. Complete Design Control
When you build a custom home, every single aspect is under your control. Everything from the flooring, cabinet styles, room size and general layout is based on your desires and needs.
02. Get Your Custom Home Floor Plan
It’s like your own choice; in consultation of your Architect, your desires and needs are followed. Whether you want an extra-Large bedroom or living Room? or adding a home office in your home? There are many…all options you can have when you are building your own custom home.
03. Total Personalization As Per Your Lifestyle!
The biggest pros on building custom home is that you can put personalized touches in your home where you want like for example if you require a bar section near your living room or a low height wooden dining table highlighting the traditional style, and also make sure that every corner of your home is a compliment to your lifestyle.
04. Build You Home In Location You Love!
You can have flexibility of choosing your land and desired location where you want to live your entire life. Either it can be in a core city with dense community or an outskirt area or having a beach/lake view! Location also counts neighbourhoods, where you would choose to live within your same community or mix!
05. Space Around Your House!
You can create your own setbacks and margins as per your personal requirements. But in that case, the local byelaws should always be fulfilled. Like if you need a front yard garden leading to your porch you have it! Or creating an outdoor patio with beautiful landscape and garden around your house. All of your choice!
06. Happiness Of Being A First Owner
Building your own home means that you will be the first people to ever live under that roof. A more complete sense of ownership and history can be yours!
07. Built Under Your Budget
You are in control of your budget when you build a custom home. Your costs will be broken down to include all expenditures, including things like your decor and taxes.
08. No Move-In Repairs
Every aspect of a custom home is brand new. This means that there will be no need to do any repairs as you move in. You don’t have to worry about things like a roof that may need to be replaced in less than a year or a furnace that is on its last legs.
09. Superior Quality Material
Complete customisation of your house reduces the chance of substandard construction significantly from the ground up! Working with reliable and professional designers, at the end of the construction project guarantees your satisfaction! You can also opt for best quality materials, it works well when you are dealing with labour contractor, either it can be a painting, flooring or roofing!
You may like to read on Pros & Cons of Hiring Contractor on Labour Contract!
10. Create You own Private Space!
If privacy is important for you, then at designing stage there is higher possibilities. In designing itself, orientation of your house is completely under your control w.r.t. the logical guidance given by Architect. Possibilities like adding lush trees, fences, interesting architectural features can be included that will specifically enhance your property.
If you are environmentally conscious, you can build your new home with the latest in technology and energy efficiency. Add energy-saving appliances, a full smart home system and even solar panels.
12. Adds Sentimental Value
Imagine a house built and constructed just for you. “My Home Sweet Home” a phrase for your home that makes you feel safe and at the peace regardless of the distance you travel. Whole builds up a sentimental value!
Custom Homes: The Cons
01. Lead to be More Expensive
A custom home builder may not take advantage of bulk buying, which will end up costing you more in materials and features. You may also have to hire an independent architect to help you plan your design. Building a custom home requires that you purchase your land separately, which can make a difference in your overall price. If your building site is remote you may also have to foot the bill to have utilities run and access roads constructed.
Almost any new project requires permits, and it is the contractor’s job to provide them. As permits includes, the building, plumbing, electrical, water and mechanical permits, when building a new house, and depending on the scope of work a grading permit may also be required. And this works well, when the custom home builder or a general contractor is well-versed in permit process. They need to be knowledgeable, organized and thorough to make this permitting process smooth.
In case you hired a shady contractors or builders with less experience and knowledge and unethical, you build up with lots of delays in permits with blunders.
03. Most Owner’s Budget Get Exceeds!
Building custom homes, owners are more likely to get distracted by more attractive and luxurious items, and then they forget that they satisfy their needs or luxuries, and in that case, they may exceed their initial budget!
Financing custom homes may become difficult. Lenders are less likely to want to issue a mortgage to those that are building a custom home. With a traditional mortgage, the bank’s investment is protected in the collateral of the physical home.
You may like to read on How is a Home Construction Loan Different from a Home Loan?
05. Time Consuming
If you are building a custom home you will need to be patient. It could take anywhere from six months to a year for your home to be ready to move in, as per United States Census Bureau. This means that between selling the old place and building the new one you are likely to have the residence gap. You will have to be prepared to cover the rental costs until you can move to your newly constructed location.
06. Build Stress
Building a custom home is a huge project that will have you making multiple decisions and dealing with your contractors on a daily basis and that can be stressful.
07. Get Confused – Too Many Choices!
A custom build can tend to be too perfect. It can certainly get overwhelming to choose all your colors, fixtures, and varies options, particularly when the sky is the limit and your choices can not be narrowed down!
08. You Can’t Tour Your Home Physically Before It’s Ready!
You won’t be able to see the actual home before you commit to make it custom. Yeah, you are familiar with the home plans, layout and features, but you won’t really be able to ‘walk around the home’ it’s all under 3Ds and your imaginations as explained by your architect. Sometimes, it can make difficult for some people to tailor the design process.
All in all, you should have the home of your dreams if you want it. But, before you decide to build a custom home, take some time to consider both the custom home pros and cons. This will help you to make the best decision for you and also to protect your investment.
If you are interested in building a custom home, then get the list of Architects nearby by your areas.
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