Many people see building a custom home as a luxury — but it can actually save you a lot of money. A new-construction home isn't just the perfect way to get your dream house: it's also a great way to control your budget. Here are a few reasons why building a new home could save you money in the long run.
You Have Complete Control Over Your Budget
When you custom-build your own home, you get to control your budget and decide where you want to spend your money. Perhaps a large garage isn't important to you, but you do want to have a large family room for events. Maybe you don't even want a dining room, but you do want to have a large, eat-in kitchen. You're able to prioritize your budget in a way that you can save money on the things you don't care about.
You can work closely with a custom home builder to find solutions that fit within your budget. Further, a new home design can be financed just like a regular home mortgage, giving you the ability to pay off the home in a similar amount of time.
You Don't Need to Renovate the Property Later
Instead of buying a house for $250,000 and making $50,000 in improvements, you can build a home for $280,000 that's exactly what you want from the beginning. Many people just look at the homes available and their prices rather than considering the cost of renovating the property to their liking.
This is especially true with older homes. An older home might need a new roof ($20,000) a new HVAC system ($40,000) or a new water heater ($10,000). Meanwhile, building a custom new home means that everything is going to be brand-new, and you aren't going to have to spend money to replace these elements for some time.
You Get a Home Warranty
A new home builder will warranty your house for a period of time, usually anywhere from three to five years. That means if anything breaks down, it's on them to fix it. You don't get this type of guarantee with an existing home.
Of course, there are also other ways to save money. If you can find homes that have just been built, you may be able to customize the floor, paint, and counters before you move in. Working with the right new custom home builder will also help.
If you are looking to custom design a new home, contact a home builder near you.