Many Palm Beach County residents prefer buying a home to building one for a number of very good reasons, including being able to move in right after closing. However, purchasing an existing home also comes with drawbacks, the most apparent of which is that you can do little about its lay-out. If you want to upgrade or make some changes, you will need to shell out more money on top of the purchase cost.
Building your own home, on the other hand, gives you the chance to truly get the home of your dreams, as you can be part of the process from the start. It also offers other benefits, as discussed by finance blogger Jenny Kerr in GoBankingRates.com.
“Everything is new: Moving into an existing property can come with hidden costs, as certain aspects of the home could need significant upgrades that might not be entirely obvious during the purchasing phase.
Annual Savings: If your furnace and air conditioner are new, you can save a few hundred dollars a year by omitting the service plan normally carried with an older system. Additionally, you can tap into some homeowners insurance savings.
Building a Community: Building a community with your new neighbors is often overlooked. Since everyone in the neighborhood is relatively new, great bonds can be formed over the years with your new neighbors.”
While you will have to put up with the long construction time, which may require transitory housing, you can take comfort from knowing that practically everything is being constructed as you prefer.
Because you have greater participation in the design and construction processes, you can better monitor the quality of the materials and the workmanship. If you have limited technical knowhow, the right contractor can help you understand the details and guide you through the process. This highlights the importance of working with contractors you can trust. Skilled and experienced home builders in Palm Beach County, such as Palm Beach County Contractor Corp. will make cost-effective decisions without skimping on quality.
Working with reputable Palm Beach County home builders can also help make the cost of your brand new home comparable to that of an existing one. You can discuss options for customization with the builders to find those that will fit your budget while keeping within your design preferences. Also, keep in mind that your brand new home will require very little maintenance cost over the next several years. Furthermore, you can install the latest energy-saving fixtures and appliances to give you substantial savings in your utility bills.
(Source: Is It Cheaper to Build or Buy a House?, gobankingrates.com)