When you have a dream home in mind, it can be difficult to find exactly what you want on the market. You might’ve ended up on this blog because you’ve tried everything to search for your dream home and now you’re considering taking matters into your own hands. However, we all know that building your custom home is a huge project that can take months to years depending on the scale and intricacy of your vision. Moreover, the entire process can be very time consuming and costly.
If you’re still debating on the pros and cons of building a custom home, we’ll give you three long term benefits to building a custom home and why it might be a good idea for you.
1. More cost effective
Yes, we said it. While building a custom home can be time consuming, building your own home usually comes out cheaper than the market value sold by a developer. When building a custom home, you have more control over the materials used in construction. You can choose high-quality, durable materials that are built to last, which can reduce the need for expensive repairs and replacements over time. Additionally, you can choose materials that are more energy-efficient, which can result in lower energy bills over the life of the home. Additionally, when you build your own home, you have complete control over the design and layout. You can design your home to make the most efficient use of the available space. By designing your home to fit your specific needs and lifestyle, you can avoid unnecessary square footage and avoid wasted space. This can result in a smaller overall footprint, which can save on construction costs and reduce ongoing maintenance and energy costs. While the initial cost of building a custom home may be higher than buying an existing home, the long-term benefits can make it a more cost-effective option in the end.
Want to know how much it’ll cost to build your dream home? Try out Versa Home’s Pricing Calculator to understand the potential cost of building a new home.
2. It’s a better return on investment
Even though the upfront costs of building your own home seems higher, it may be easier to recoup your investment as you know exactly what went into it and how much your home should be valued. In a stable market, once your home is complete, the value is usually higher than what you spent building your custom home. Custom homes are built to meet the specific needs and preferences of the homeowner. By designing a home to fit your specific lifestyle and preferences, you can create a space that is unique and personalized. This can increase the desirability of the home and make it more appealing to potential buyers in the future.
Custom homes are also usually built to meet the latest energy-efficient standards. By incorporating features such as high-quality insulation, double-pane windows, and energy-efficient appliances, custom homes can save homeowners money on their utility bills. Energy-efficient homes are also more appealing to potential buyers, which can increase the resale value of the home.
3. Opportunity to choose your builder
Custom homes are all about choices, which is especially important when it comes to who you trust to build your house. You’d want a builder who is transparent about materials, pricing, and time. A builder with systems and processes is worth their weight in gold. Besides the obvious, checking references, google reviews, social media and talking to past clients, I would say meet with your builder. Here are some of our top tips for you:
- Trust your intuition. Do you feel comfortable communicating with the builder and can you envision a long-term partnership with them?
- Ask if they will provide a detailed and realistic construction schedule that includes daily updates on site activities.
- Inquire if they will provide regular updates and photos of the construction progress.
- Determine if they have a system for tracking and approving change orders.
- Check if they have a process for following up after completion to address any deficiencies.
- Ensure they are knowledgeable about the latest construction practices.
- Verify that they and their tradespeople are properly insured and have a system for tracking liability insurance.
We could talk for hours about good builders. If you want to know more, feel free to contact us at Versa Homes to chat more about what you’re looking for.