Investing in a home is one of the most exciting things you’ll ever do in life. You need a safe place to live and spend time with the ones you love, and owning a piece of property remains part of the American dream. When it comes to buying a house and investing a large sum of money into a property, there continues to be some discussion and debate over what’s better: buying a preowned home or hiring the best home builder in Fort Wayne, IN, to build a new home. Here are a few main points to consider if you’re trying to decide what to do for your next move.
The Ins and Outs of Purchasing an Existing Home
One of the biggest benefits associated with buying an existing home Is that it’s already built, so you can move in almost straight away depending on the closing. There’s a pretty long list of these existing homes up for sale, but you have to think about the convenience and cost. An existing home may be in need of some repairs or even renovations, which will bring the costs up, especially if there’s a lot you want to change about the property. On top of your mortgage payments, you also need to think about paying for additional closing costs such as fees for underwriting, origination, credit reports, appraisal, and title insurance. Plus, there’s commission, mortgage insurance, and HOA fees, which can quickly increase the costs of buying an existing home.
The Perks of New Builds
While some people find it easier to move into an existing home, a lot of others can’t resist the opportunity to have their custom-built dream home completed by a reputable home builder. It’s a wonderful feeling to make a life for you and your family in a home that you had especially designed and created with your personal preferences in mind. Of course, hiring a home building contractor takes time, but many homeowners feel it’s worth the wait. The costs of new construction with the best home builders can range significantly depending on the location, land, excavation, and customizations. In addition to the mortgage payment, there may be other big expenses with new builds like the price of the foundation, framing, driveway, and interior finishes.
Making the Right Decision for You
At the end of the day, you need to decide for yourself which path you want to go down. How big of a hurry are you in to move? How important is it for you to customize your living space to meet your needs? Is it time for you to move into your dream home, or are you ready to compromise? The more time you have and the more custom features you want, the better a new build is for you. Whatever you choose to do, you have to remember that a home is one of the biggest investments you will make, and you want to do your research and make a smart decision on what’s right for you and your family.
If you’re ready to move forward with your plans for building your dream home, then it’s time to contact the awesome, affordable home builders in Fort Wayne, IN. Lancia Homes is known for quality custom-built homes that exceed all your expectations, and now’s the time to get started on turning your dream home into a reality.