Buying vs. Building – Factors to Consider

Retirees have two options when it comes to a new home. They can either buy an already built home or build their own. Buying or building – which one will you choose? That option is up to you. However, you should also consider a few factors irrespective of your choice.

Time Factor
This is an important factor and one you should pay special attention to. Building a home takes a long time. There is land to purchase, architects to hire, permits to get, hiring of construction crews etc. Building a home can take six months to a year. When you buy an already existing house, you can move in almost immediately or as soon as escrow closes.

Design of the House
When building your own home, you are in charge of all the designs. You get to customize your home and make it unique. Buying a home does not give you this option. However, keep in mind; you can always remodel your existing home according to your preferences. Many active adult communities feature this option where you can add your unique touch to your home by working with the builder.

Energy Efficiency of the House
Building your own home ensures you that every part of your home is energy-efficient. This is a problem for many active adults as they cannot afford to have high energy bills. If you buy a ready-made home, and if it is older, the cost of electricity may be too high for you to cope. Many active lifestyle communities, such as, the Trilogy series by Shea Homes feature energy-efficient homes.

Level of Involvement
The choice of buying and building also depends on how much you wish to be involved in the entire process. If buying an existing home, you only have to work with a realtor and select the home you like. If building a home, the responsibility is more. You have to be involved in all the major details, as well as, the minute details of your home.

Finances
Buying or building costs money. Whatever type of home you dream of will have to be put aside as your budget has to be considered. Buying a home is easier in this way, as you provide your realtor of a price range you can afford. Building a home is different as you can never estimate the amount you will spend. Most often, you may end up paying more than you planned to for your new home.

You have to consider these factors before you build or buy a home. ActiveAdultLiving.com® is a website that offers you a choice to do both. Visit our website and select your community today.

0saves
If you enjoyed this post, please consider leaving a comment or subscribing to the RSS feed to have future articles delivered to your feed reader.