Now that you have finally retired and collected a handsome sum of money for yourself, the first thing in your mind will probably be moving to a new place. When you consider moving to a new home, several choices are facing you- you can either buy a pre-owned house or hire a contractor to build a house for yourself from scratch. Both options have their own pros and cons, of course; however, most people believe that building a home is much more cumbersome. Unfortunately, this is not always the case; if you find a reliable contractor, building the home of your dreams is a walk in the park.
There are many benefits of building your own home, which might not be the case if you move into a pre-owned house. Sometimes, pre-owned houses sell for a very high price, and you can easily build your own house for much less. If you are still not convinced, read on to know why it is profitable to build your own home.
It is new.
The first thing that comes to mind when you say ‘new home’ is the very fact that it is new. You will be the first resident. Not that all pre-owned houses are inherently haunted (sorry, Hollywood!) or anything; it is simply the appeal of moving into a place that is yours and yours only. There is no tension regarding outdated and inefficient designs and appliances since it is completely new and fresh.
2. You can customize your heart’s content.
This is easily the biggest advantage of building your own home. No two people have the exact taste, so it might not suit your tastes well if you plan to buy a pre-owned house. For example, you want an indoor pool in your home, but the pre-owned house comes with an indoor studio. It would help if you then spent more to turn that space into one you actually desire. This is not the case with a new home; you can let your contractor know right at the beginning about what you want. You can have one bedroom with a wine cellar, a library, a pool, and a study, or four bedrooms with a music room- anything you want.
3. It is usually cost-effective.
Contrary to popular belief, buying your own home can actually go easy on your pocket. Following up on the customizations, you can choose to build only what you want. In addition, you will not have to pay for repairs and maintenance since the builder will handle all of that with their warranty if it is a new house. You can also claim tax deductions from depreciable. Overall, it can surprisingly be even cheaper than moving into a pre-owned home.
4. Safety and energy efficiency.
A home built a decade back may not adhere to the building safety standards prevalent today, and as such, have a damaged foundation. Building your own home, on the other hand, ensures that you are completely safe. You can also install the latest and most energy-efficient appliances and fixtures, saving up on energy bills.