To build or not to build: that is the question. As you prepare to decide on your next home, here are a few factors to consider when deciding whether to build new or buy a fixer upper.
New Build
If you choose to build a new home, then you have a world of possibilities ahead of you. Building a new home means that you’ll have the option to design it to suit your needs. You won’t have to do any work once you move in, so you’ll be able to enjoy your home as soon as you arrive.
Pros
- Everything is brand new so you won’t have to worry about costly maintenance projects after you move.
- You have the opportunity to design your dream home.
- You have control over the location of your home.
- A new build allows you to fully enjoy your home as soon as you move.
Cons
- New homes are typically more expensive up front than fixer uppers.
- Building a new home can take quite a long time.
- You aren’t able to see what your home looks like upfront.
- Your new build may be in a developing area, so you might be surrounded by constant construction.
What to Expect
New builds come with a premium price tag. That being said, you’ll be creating your dream home without personally lifting a finger. It’s a great tradeoff for those who are able and willing to make the investment.
Fixer Upper
Since the hit HGTV show featuring Chip and Joanna Gaines swept the nation, fixer uppers have come back into the spotlight. Fixer uppers offer perks like historic charm and unique details to those who are brave enough to take on these renovation projects.
Pros
- Fixer uppers generally cost less up front.
- Renovating an existing structure allows you to be actively involved in shaping your new home.
- The major work of the home is already done.
- If you’re capable, you can realize tremendous savings by performing DIY work.
Cons
- Fixer uppers can have a variety of hidden costs.
- Fixer uppers will likely need more maintenance than a new build.
- You’re unlikely to save money if you don’t have the necessary DIY expertise to do your renovations; hired labor can be quite expensive.
- You can’t choose where to locate your home.
What to Expect
Fixer uppers offer a great opportunity for those who are willing to get their hands dirty and have the expertise to do so properly. Buying a fixer upper can be a huge bargain; however, it can also be a huge risk.
If you’re ready to start building a new custom home, schedule a consultation with Homes by Brill. As leading Des Moines-area home builders, our team will expertly guide you through the entire home building process. Take a step toward your dream home today!
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