My Charlottesville BLOG

It’s always a tough call to make when you’re shopping around for a home – to buy or to build is a dilemma that persists, especially if both options seem to be equally viable. But if you take some time to ponder the decision based on the following aspects, you may be able to reach a satisfactory conclusion. In general:

It’s better to build if:

• You already own land or can buy an area at a suitable location within your budget.
• You have easy access to building materials.
• You know a good contractor who is trustworthy and capable of finishing your project on time and within your budget.
• You want a custom-designed home instead of a cookie cutter model.
• You want to save costs and are willing to take the extra effort that building a home entails in order to reduce your total expenditure.
• You’re not in a hurry for a new home.

It’s better to buy if:

• You don’t want the hassles associated with the day-to-day operations of building a house.
• You don’t own land in neighbourhoods where you would prefer to live.
• You have the money for a substantial down payment now but are unsure if your cash flow is smooth enough to support building a home in an economy of constantly rising prices.
• There is a chance that you may have to stop construction because of financial or other reasons.
• You prefer to move in immediately.
• You’ve found a home that is satisfactory and convenient.

A word of caution before you invest in a home – irrespective of whether you buy or build, you need to choose or construct a home that is easy and cost-effective when it comes to maintenance, and which is easy to sell after a few years if you ever have to move or need another home for various reasons. So while a swimming pool, fireplaces and a wet bar are great ideas for your home, they boost the price by a significant amount when you’re hoping to sell and also take out a large chunk of your income by way of maintenance. Instead of investing in a home that is largely superfluous and excessive, be practical for the most part while allowing yourself a few choice indulgences – this is how you maximize the value of a home.

By-line:

This guest post is contributed by Nicole Adams, she writes on the topic of construction management degree .  She welcomes your comments at her email id: nicole.adams83@gmail.com .

Note: Charles works with several local builders in the area but does not represent them. He represents only his clients interests. If you are considering building you may want to give Charles McDonald a call at 434-515-1585 or visit him on the Web at Charlottesville Real Estate Group

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