Over the next several years, the dream of building a home will be within reach for many Americans. In fact, research by Zillow recently found that nearly 70 percent of U.S. households earn enough, in theory, to purchase a newly-built home that costs around $300,000. That’s exciting news if you’re looking to upgrade to a new home in 2018.
Several forces are guiding this trend. First, the economy in many parts of the country has rebounded from the recession, which is strengthening people’s purchasing power. Meanwhile, affordable yet high-quality home builders like Adair help to make the dream of building a new home more achievable than it was for previous generations.
But how does building a new custom home compare to buying a pre-built one? If you’re like most homeowners, you want to make sure that your next choice is a smart investment. Let’s take a look at some of the advantages of building a custom home so you can decide if it is right for you.
Advantages of Building a Custom Home
Affordability.
The dream of building a custom home has never been as achievable as it is today. Zillow found that the typical U.S. household needs to make at least $45,360 to qualify for a new construction loan—a threshold that nearly 60 percent of households currently meet. This means you could most likely afford to build your very own custom home without overextending yourself or breaking your budget.
Location.
One of the biggest advantages of building a home is the opportunity to determine where it will be built. You can build on land you already own or search properties for sale in your ideal area. Instead of being restricted by the availability of pre-built homes in suburbs or older neighborhoods, you can choose to build nearly anywhere. And you have the option to build on a lot that is as large or small as you want.
Move-in equity.
During construction, Adair Homes invites customers to participate in certain stages of the site-development process. This not only saves you money on the overall cost of your new home, but it also means your home has gained equity before you even get the keys.
Functionality.
Shopping for a pre-built home can be extremely challenging because it’s so difficult to find an existing house that ticks all your boxes. How many times have you walked into a home and known immediately that it’s too small or too large, has a weird floor plan, or simply won’t work for your family’s needs?
This is another area in which building a custom home is far better than buying a pre-built one. You have the chance to customize your floor plan to your needs, whether that means adding an extra bedroom, extending the kitchen, moving a wall, adding windows, or all of the above. The ability to customize your new home means it will be functional for your family’s lifestyle, which will make it comfortable and livable both now and for years to come.
Style.
A custom home also offers the opportunity to design every room in a way that suits your unique taste. On the other hand, a pre-built home will most likely reflect the previous owner’s style. In some cases, you may have to invest even more money for renovations and updates.
With a custom-built home, you get to select everything from the layout to flooring, cabinetry, countertops, paint colors, faucet styles, exterior brick, and more. The result is a home that truly reflects your style and feels like your own.
Finding the Right Home for You
Over the years, we’ve heard from many home buyers who had always assumed that building a custom home was out of reach for them. However, as you can see, going the custom route can be more cost-effective than many customers may initially think.
Best of all, a custom home provides much more freedom of choice, giving you the opportunity to create a home that you truly love. This not only makes your investment more worthwhile, but it also ensures that you and your family will get the most out of living in the home, both now and in the future.
