The ABC's of Building VS Buying a Home

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Real Estate
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Written by Riezl Baker, Reynolds Plantation Properties

Building or buying an existing home is a personal choice. After 17 years of helping clients decide, here are some pros and cons to consider:

BUYING A HOME:

A-Ability to move in immediately after closing is one of the biggest advantages of buying. It is more convenient from a time standpoint.

B-Better deals to meet your budget. Depending on the market, inventory typically offers a variety of home options for your price point.

C-Cost and price of an existing home is usually more favorable. It may not be the perfect home, but you can do upgrades over time which will increase your property value.

 

BUILDING A HOME:

A-Attractiveness of a new vs older home. Nothing compares to walking into a new home equipped with the latest technology, insulation, wiring, which can save you a lot of money in the future.

B-Building time depends on many factors. Designing the home, submitting plans for review, getting permits, the weather, will determine your time frame, which can take 8 months to over a year. You may have to rent temporary housing if it takes longer than expected.

C-Customization and personalization. You can choose your desired floorplan and finishes. It is important to remember that while building allows you to create your “dream home”, upgrades can end up costing you more than your budget.

Building may be less expensive for someone, while buying and renovating may cost more for another. Weigh the pros and cons. An experienced realtor with thorough knowledge of the market, inventory and the community can help you understand the property values, show you what is available, and recommend reputable builders in the area. Keep in mind that you are not just building or buying a house but a “home”,a neighborhood and a lifestyle.

 

Riezl Baker has been a realtor for 17 years,representing buyers and sellers, for Reynolds Plantation Properties LLC. Baker received the Phoenix Award for being an active producer in the Million Dollar Club, was named “Realtor of the Year” in 2013 for her business accomplishments and community involvement,is a board member of the St. Mary’s Good Samaritan Hospital Foundation Board, and currently serves as the President for the Lake Country Board of Realtors”

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