Niagara Real Estate Blog

Building or buying a home: how to decide

Posted by Terence Davids on Jul 25, 2017 11:16:59 AM
Find me on:

Finding a dream home can be difficult for some buyers. It's understandably a difficult decision, with it being such a large investment, no buyer wants to purchase a home that they aren't in love with. There are also many factors to consider when buying a home, such as location or cost. Some people don't find what they're looking for on the market, and opt to build their dream home. This raises the question: should you build or buy a home in Niagara?

Convenience of buying a home

Buying a house is, despite times it can be difficult to find what you want, by far the more convenient option. After you're pre-approved for a mortgage you can find an experienced Niagara real estate agent and shop the market, and then make an offer on a home. Once that offer is approved, you can move into the home quite quickly.

When building your own home, the process naturally takes much longer as the home has to still be built. This is especially important for buyers on a tight schedule. If you're planning to build your own home, you need to plan for that much farther in advance.

High costs of building a home

A large downside to building your own home is the cost. While you may be able to design the home to exactly what you want, it can be cheaper to buy a home and renovate rather than pay for the materials to build, as well as paying for contractors to build the home. Building a home also risks the workers going over budget, costing you more in the long run.

It is, however, also risky to buy a home that is very low cost and then deciding to completely renovate. Taking this route can add up quickly, and you may find yourself once again going over budget. Finding a home on the market that has a majority of what it is you're looking for, and then doing small renovations is a more happy medium which will keep you closest to your budget.

Consult with an experienced Niagara realtor

If you've looked at the market and haven't found what you're looking for, don't feel as though this is the end. Find a Niagara realtor who knows the real estate market well and can help you get what you're looking for.

Team Davids is a team of experienced real estate agents who know the Niagara housing market well. Connect with us today to get started so we can help you buy a home in Niagara.

 download buyer's guide

Topics: Buying A Home

New Call-to-action
New Call-to-action
New Call-to-action

Recent Posts