Pros and cons of building a home

Building your own home from scratch can be overwhelming - expect to have your emotions on a rollercoaster! It can be the most exciting time of your life as you have the opportunity to design and build your dream home. From selecting the location and floor plan to choosing the features, your home will be made specifically for your lifestyle. With this "great power comes great responsibility", and in that comes the pros and cons of building a home.

Pros
No competition
Given the current real estate market in South Africa, and around the world, great properties are swiftly grabbed up by first-time buyers and investors. The competitive edge among buyers does not leave much room to waste any time looking for your perfect home. When you opt to build your own home you eliminate any kind of stressful competition.

Customizing your humble abode
Probably the best part of building your own home is the ability to customize it according to your style preferences. You get to decide on the design and structure, along with how you want your home to look. Will your front door face the East or West? Where will your entertainment zone be? The choice is all yours!

No major repairs required
Building your home from scratch also means that you have a new geyser, new ceilings, new flooring, and more new gadgets. Moreover, as new homes are built according to the latest building specifications, there is a lesser chance of you being faced with any major maintenance or repair issues within the first few years.

Modern touches
As people and their lifestyles change over time, so do their homes. Spacious entertaining areas, extensive storage for special items, minimalistic decor, and smart home technology are modern necessities found in newly built homes today.

Cons
The wait to move in
Building a home takes months or even a year to complete. One of the major cons of building a new home is that you cannot move in right away. As opposed to buying a home, it will be a long wait until you and your family can enjoy the comforts of your dream home. If you are able to move in during the last phases of construction, you will surely be surrounded by noisy and unpleasant construction mess. You will need to either live in your old home or rent for a longer period of time.

Getting stuck with a bad team
Choosing the right architects, builders, electricians, or carpenters is vital when it comes to building your dream home. Being stuck with the wrong architect or electrician can lead to unwanted delays and extra costs. Do reference checks on the team you choose. Ensure that they are reputed and licensed as per regulatory requirements.

The cost factor
When you buy an existing home there is a chance that you can save some money by negotiating your closing costs. However, when you build your own home you tend to want only the best. The best paints, tiles, or tap facets can end up costing a fortune. Although it may be seen as an investment there is very little flexibility when it comes to paying for these items. In some instances, you might spend more than you originally budgeted for.

While building your perfect home from the ground up does have clear pros and cons, it can be the most exciting time in your life. If you are keen on building your dream home contact one of our friendly agents at RealNet today.