What are the Pros and Cons of Building a Custom Home?
The custom home building process can present a few challenges, so it is vital that you connect with the right professionals to ensure that things go smoothly. Your home builder should be your partner. Together you form a team that has your best interest in mind.
Pros of Building a Custom Home
1. Less Competition
Today’s housing market favors home sellers because mortgage rates are low. A lack of housing makes the competition to find an existing home tough. When you build a house, you won’t have to worry about competition driving up the cost of the home.
2. Customization & Personalization
Custom home building allows you to put your personal touch on the home from the start. Unlike purchasing an existing home, there is no need to move in and make changes. Your priority options become part of the base design, ready for you to enjoy once you move in.
3. Minimal Maintenance Costs
Maintenance costs on a new home are lower because everything is new. You don’t have to worry about the roof, plumbing, or appliances that suddenly break. If there is an issue, your new home built by Sheffield Homes is protected under warranty.
4. Higher Energy Efficiency
Today’s building materials meet more energy-efficiency standards than those of previous decades. Homeowners may elect to install Energy Star appliances, energy-efficient HVAC systems, and insulated windows–all of which drastically reduce utility bills.
Cons of Building a Custom Home
1. Time
Building a custom home from the ground up requires more time than building a standard or stock floor plan, and usually more time than it would take to purchase and close on an existing home. If you are moving to an area with a competitive housing market, however, it may take just as long to find a resale home in your price range that meets your family’s needs as it would to go the custom-build route.
2. Expense
New construction may cost more than resales, but often, the additional spending is worthwhile. The upgrades you can get from your home builder will often compensate for the extra cost. Also, the resale value of a new home is more than an older home in the same location. Right off, you may have more equity value in a new custom home than you would in a resale.
3. Lack of Mature Landscaping
A new building site or neighborhood most often lacks mature landscaping. To clear the building site it’s often necessary to cut down mature trees. However, you can work with your builder to place your custom home on your lot in such a way as to preserve as much of the mature landscape as possible.
4. Finding a Location
It is often hard to locate undeveloped land that is close to shopping and other amenities. You may have to look outside the area for a lot that best fits your needs.
Sheffield Homes works hard to make the custom home building a positive experience. Contact us today to learn more about how you can build a custom home in the metro Denver area or in northern Colorado.
