Is It Better To Buy A Home Or Build A Custom Home?

Is It Better To Buy A Home Or Build A Custom Home?
A home is more than just a place where you and your loved ones live. It is an investment for your future and for your family’s future. Home buyers spend time, energy and money for their ideal home, whether they are buying or designing. Factors that go into the buy and which are generally considered are cost, location, taxes, market trends, additional fees and the what the property’s condition is, if buying an existing home. If designing a home, a wish list and general ideas are laid before the home builder to discuss and make sure all needs are met. No matter what stage of the game a buyer is at, they are ultimately faced with the most crucial choice: buy an existing home or build a brand new, custom home. Read below as we discuss the pros and cons of both options!
  • BUYING AN EXISTING HOME (ADVANTAGE):
    • Convenience
      • Buying an existing home allows the comfort of not having to decide on details. You simply see what you like and are in!
    • Cost
      • The cost of buying an existing home is generally less since everything is already built and established.
    • Existing Landscaping
      • There’s no need to plant a new lawn or trees, etc. since the home is on an existing land and therefore is already established and only needs to be maintained.
    • Choosing Your Location
      • There are existing homes in every neighborhood. You have an option as to where you’d rather live and where you’d rather avoid.
 
  • BUYING AN EXISTING HOME (DISADVANTAGE):
    • Won’t get exactly what you want
      • The home is already built and established, therefore there isn’t much room or opportunity for customization to fit your preferences.
    • Quality may be below standards
      • The home could be old or have other problems/health hazards that you may not be aware of until after you’ve purchased and lived in it.
    • Additional money to remodel
      • Say your existing home has 4 bedrooms and only one bathroom, and you’d like to add another. The money to remodel an existing home is very expensive.
 
  • DESIGNING A CUSTOM HOME (ADVANTAGE):
    • Not as convenient, unless you find existing development (like Zeina Homes offers)
      • Often times custom homes have less options as to where they can be built since you need an empty land. However, some home builders (like Zeina Homes) offer developments in neighborhoods with the opportunity to design your own home.
    • Getting exactly what you want
      • Your home vision is brought to life when you’re designing. Working alongside home builders and describing your goals to them ensures everything will be exactly as you’d like.
    • Better for your health
      • Since the home is brand new, health industry standards are taken into effect which means the home will be of the best quality. This means less health hazards for you and your family.
    • Less repairs and maintenance = less money spent in the long run
      • Although the initial start-up cost of a custom home may be more, having a brand new home means having brand new items and pieces. These are much less likely to malfunction and therefore will save you money in the long run!
    • Emotional connection to your home = happier life!
      • Since you designed the home, you’ll feel it’s entirely yours. This makes a stronger connection to the place you live in day in and out, which in turn will raise your spirits and make you feel more content.
  • DESIGNING A CUSTOM HOME (DISADVANTAGE):
    • Higher upfront cost
      • The initial price is more costly than buying an existing home since you’re designing every aspect as opposed to living in an already built home.
    • Longer waiting period to move in
      • Bringing your home dream to life takes time. Everything needs to be built with the best quality and therefore you’ll have to be patient whereas an existing home is ready to be moved into when you are.
  Whether you choose to buy an existing home or build your own custom dream home, ensure you work with a qualified, experienced and professional home builder. Zeina Homes are award-winning home builders who have been building for decades. We work with you every step of the way when designing your custom home. Whether you’re buying an existing Zeina model home, or customizing from scratch we treat you as if you’re family.   Visit a Zeina Home model home Sundays from 1-4pm at 32 Riva Crt, Hamilton, ON to chat with us about your home goals and to see what we are capable of offering you and your loved ones!