Almost all first-time homeowners face this age-old conundrum – whether to buy or build. Buying a fully-finished product right off the block and moving in immediately may suit some people, while some may want to build their own home by adding all the elements they like.
Both custom homes and production homes have their advantages. But custom homes are known to offer more options in terms of floor plans, design, and more. Comparatively, if you buy a production home, you may be compromising on the amenities or the floor plan.
Golden Key Construction is your perfect partner when it comes to building custom homes in the Rio Grande Valley. We are a competitive firm with a multi-talented team of experts who can deliver your custom build in the estimated time while staying within your budget.
Let us explain the advantages and disadvantages of building a custom home.
Pros of Building a Custom Home
Customization
You have the liberty to add your personal touch to every aspect of your custom home. This is a huge plus over the production homes, which allow some personalization only in the final stages of construction or after you move in.
Unlike buying an existing home, with a custom home, you can prioritize your choices from the start. Meaning, you can discuss with your custom home builder about the flooring options, color choices, certain fixtures, and finishes.
Energy-Efficient Home
Any new construction is bound to comply with the current building codes of the locality. They use energy-efficient solutions and incorporate the latest technology. However, with a custom home, you can achieve higher energy efficiency by selecting appliances or HVAC systems of your choice. Today’s building materials are designed to achieve a reduction in utility bills.
Minimal Costs on Maintenance
Since custom homes are unique and feature only the highest quality materials, there is a lesser risk of repair or damage after you move in. So, you save a ton on the maintenance costs, as compared to buying a pre-made home, where you need to compromise on what is available. Besides, custom home appliances, roof, plumbing, and other areas are usually protected under a limited warranty.
Less Competition
Finding an existing home can be tough because of the demands in the realty market and low mortgage rates. As per the NAR (National Association of Realtors) reports, an existing home remains on the market for 30 days on average. Getting your hands on one can be next to impossible. But with a custom home, there is no competition, and there is no fear of the costs getting increased.
Also, production homes are made in batches. Compare this to a custom home: here, the competition factor reduces as the custom home builder gives sufficient time to a single project.
Cons of Building a Custom Home
Time Taking
A custom home construction involves building from the ground up, and hence, it takes more time to complete the project. Each custom build is different and unique as its owner. On the other hand, production homes use a standard template or a stock floor plan, and you can move in after a few weeks of making your offer.
Expensive
The custom home builder works for catering to your tastes, which means installing your choice of upgrades, designs, cabinets, and such. Sometimes, you may change your mind and ask for additional features or amenities, which can add to unexpected expenses that you pay out of your pocket. So, the final cost of the construction may be much higher than what is mentioned in your contract.
However, this is not actually a disadvantage when you consider the resale value you get on the upgrades.
Golden Key has been undertaking commercial projects for over 50 years under our parent firm R.E.Friedrichs Company. Our varied home construction services include restoring and repairing living spaces, and complete renovation. We take up projects of any size and give our utmost dedication to the customer’s needs. Call us today to speak to our in-house specialists.