Buy Custom vs Renovating: What Are Your Best Options For A New Home?

 

 

 

 

When you feel like your old home is no longer suiting your needs, you have a big decision to make. You can either buy a new home or renovate your current one. It’s a big decision and further complicating things is the fact that you can also opt for building a custom home.

This means that instead of trying to find your dream home you can either rebuild your current home to match, or contact Calgary custom home builders to build one according to your specifications. There are pros and cons to either scenario so you need to know what you would be getting into to make a good decision. In this article, we will cover both so you can decide which is the best option.

 

Benefits of a custom-built house

Building a new custom home offers several advantages. The biggest advantage is it provides you complete control over the final design. This means you can incorporate unique features that align with your lifestyle and preferences.

For instance, if you love to cook, you can opt for a huge kitchen that is laid out exactly how you’ve dreamt a kitchen should be. Or, maybe you love the idea of a huge bathroom that has a hot tub and steam shower.

The other benefit is that you can use materials that are green and very efficient right from the beginning. Houses built after World War II tend to be made out of cheap material and are not energy efficient.

Lastly, a new home tends to have lower maintenance costs. This is because everything from the foundation to the roof is brand new, reducing the likelihood of repairs and replacements in the early years of homeownership.

 

Benefits of a home renovation

One of the best reasons to renovate is the ability to retain your current address. You may love where you live, you just don’t love the actual home. Not having to uproot your life and start fresh in a new location is very appealing. This is especially true if you have children who would need to start a new school and find new friends. You may also be moving further from your job and increasing your commute time.

Another big benefit is that you are increasing your home value. If you move now, selling the home in its current state will make you less of a return.

 

How to decide

There are some factors to consider that will greatly affect your decision either way. For starters, you may not be able to realize your vision if you renovate your current home. The floor plan may not allow for the changes, and even the condition of the home will determine what you’re able to achieve.

However, a custom built home could be way out of your budget. To buy a buildable plot of land alone is not cheap. When you add in the cost to build from hiring an architect to paying the builders, the costs are very high.