If you're in the market for a new home you may assume that it's just cheaper to buy a home that's up for sale rather than having a new home built. While in some cases this might be true, you may be surprised at how cost-effective it is to have a home built. Note the following factors you'll want to consider before making your decision.
1. A new home means avoiding major repair bills
When buying a home you need to consider the condition of the roof, the foundation, the chimney, the flooring, and major appliances such as the hot water heater and furnace. If these are several years old and there hasn't been any maintenance work or replacement done then you may be facing major repair bills within a few years. You need to consider these costs when considering the cost of buying a home.
Having a home built means having a brand new roof and other building materials and new appliances. You can also choose the most durable materials you want to use for building so that you avoid these repairs bills for years if not decades, making having a home built more cost-effective in the long run.
2. A new home can include more energy-efficient appliances and building materials
Energy-efficient appliances and building materials can save you money on your utility and energy costs for years to come. These choices might include a tankless hot water heater, a metal roof versus standard tile or shingles, blown foam insulation, low-flow toilets and even urinals in the bathrooms, and radiant heating which may use less energy than forced air furnaces. A new home might even be built with solar panels on the roof to replace the use of city-provided electricity.
All of these choices can mean saving money on utility costs throughout the year and this too needs to be considered when comparing the price of a new home versus one on the market. Those savings can more than make up for any extra expense in having a new home built. It's also often cheaper to have these choices included in a new home being built than having them installed in a home you buy.
Remember to note these cost factors when considering having a home built versus buying one on the market. In many cases it can be cheaper or more cost-effective to build the home of your dreams rather than buy a home that's already built. Talk to resources like Seapointe Homes to learn more.
Share26 February 2015
Hello. My name is Dean and this is my home and garden blog. Last year, I decided I needed to improve the look of my home. I visited several home and garden centres and various different shops but I just couldn't find the items I wanted. I had this dream of creating a really cool and funky look based on an African design I had seen. My friend suggested that I customise the items to create the look I wanted and began to give me some lessons. I really enjoyed the process and I learnt a lot about how to improve your home and garden.