Building vs. Buying: 4 Reasons to Consider Building Your New Home

If you’re ready to move to a new home, you’ve got a lot to consider: What kind of neighborhood do you want to end up in? How far away are amenities like the grocery store? And most importantly, what is the layout of the home, and does the building’s floor plan meet your needs?

Existing homes can certainly be renovated, but you also have the option to buy land and construct your next home exactly as you want. New home construction is appealing for many reasons; let's take a look at four of them.

Four Reasons to Consider New Home Construction

A Difficult Market

As reported by The New York Times, this is a historically bad time to purchase a single-family home. Inflation, high interest rates, and high demand with limited supply have created our current cutthroat real estate market. If you are frustrated at or priced out of your local real estate market, now may be the time to purchase a plot of land instead, then build from the ground up.

Less Maintenance and Fewer Repairs

We’ve all heard stories of recent homebuyers moving into their new property only to have a roof cave in or a foundation crack uncovered within the first month. Maybe we’ve been that recent homeowner, dealing with an expensive nightmare scenario.

Older appliances, weather damage, and decades of wear and tear can be costly to fix or upgrade, and should always be factored in your expenses if purchasing an existing home. Starting fresh with a new construction can save you time, money, and innumerable headaches. (Don’t forget that new appliances will also come with warranties, protecting you from service and repair costs for your first few years in your new home.)

Efficiency and Sustainability

Studies have suggested that the U.S. state you live in and current cost of acreage can determine if it is cheaper to buy land and build a new home, compared to purchasing an existing house. It is important to remember that these studies can only measure upfront costs. When taking the long view and looking for a place to settle down for years or even decades, constructing a new home to your specifications can save you tens thousands of dollars or more overall.

This is especially true when considering energy efficiency and other sustainability aspects. Climate control is a major expense to homeowners, whether it means heating your home during winter or cooling it during summer. By some estimates, heating and cooling homes consumes half of all energy used in residential areas in the U.S. Constructing a new home with the most efficient home insulation is just one way that you can keep costs down over the years (as the cost of energy is sure to increase over time).

There are dozens of methods to reduce or keep efficient the energy use in a newly constructed home. It’s also important to stay current on federal and local tax incentives for efficient appliances and energy systems.

Your Wants and Needs Met

When you can design a newly constructed home and be a part of the process, you’re in control.

Marks Building Co offers complete home construction and remodeling services, with a team of architects to bring your vision of your dream home to life. Contact us today for a free new home estimate.