- AB Bride
- 6 years ago
- Wedding: January 2011
And why or the pros/cons you think of each.
And why or the pros/cons you think of each.
My dream would be to buy a home that I built. My parents are structural engineers and my mom did custom home design before she became a SAHM so I am very interested in that aspect of home buying. She designed our entire childhood house down to every last detail.
That being said, it probably isn’t the best for this type of market right now.
I have a very clear idea of the features I want in a home, and they’re hard to find all in one place. I’m big on being able to have a say in every color and detail. That’s why FI and I ultimately want to build our own house.
I put “resale,” but what I really mean is “historic.” I grew up in an old house (1900 or so), in an historic district full of Victorian and Edwardian homes. They’re a lot of work and something always, always, always needs to be fixed. But I love a house that feels lived in and worn and loved. When I went looking for houses where I live now I told the real estate agent not to show me any houses that were built after 1940 🙂 I found an amazing Victorian townhouse (1892) that was just exactly right for me, and I love it.
If I couldn’t have a really old house, though, I would want to build my own so I could have it exactly the way I want (but even then, I’d probably build it in a Victoran or Colonial style. I’m hopeless).
I would love to buy a home that I built, but then again, I have had a lot of friends who have had to sue their builders because of issues…maybe a house someone has lived in for a while would be better. Tough call.
If I were to buy a new build I would not want a “kit” house. I know building a more custom home is much pricier but that’s the only way I would do it. We are going to start house-shopping in about a year and I think for our first home we are going to buy a resale.
I would have loved to buy a plot of land and built the house of my dreams– the problem with that is affording it!
@AB Bride: I like the idea of something I built myself because then I’d have control over what layout and colors etc.
But of course there’s pros and cons.. cons include the time it takes to build it, the cost, the fact that you’ll likely have to build in a newer neighborhood unless you have a lot of money (and thus a long commute, going a long time without grass and a fence, etc.)… and also that sometimes you have the new house problems that don’t become apparent for a while, and unless you’re rich you probably won’t be able to customize it exactly to your specs anyway.
With that said though, I’d still prefer to build.. I like new things. Unless I had a lot of money and could afford a gorgeous million dollar house in an older neighborhood closer to the city center then I would prefer to build. In my city the reality is that for $500,000 you won’t get more than 1,500 sq. feet and you’ll be commuting for 30 minutes. It’s insane. That’s why we’re opting to rent until we settle in the city we want to spend the rest of our lives in.
I’m in Canada by the way.
Lol… MONEY NO OBJECT ???
Then have a home custom built to my specifications / dreams & visions.
Mr TTR and I have both lived in a lot of places in our lifetime… (I’m over 50, he’s over 60). The majority of them have been places that we purchased, and they’ve all be resales (usually the “best bang” for your buck)
The downside though is you inherit whatever is as it is… and many things cost a lot to renovate / fix up … Kitchens, Bathrooms, Basements, Landscaping etc.
Mr TTR and I have been spending a good part of our Engagement trying to decide whether we renovate the house we are in (he’s lived here over 30 years) so that it represents more of the two of us… OR if we just throw in the towel and go out and buy another house that is more to BOTH our tastes / change in lifestyle
ALL OPTIONS are a HUGE outlay of money…
1- Renovating this house to make it better probably $ 30 to $ 50 K (New Deck – New Kitchen – Tear out the 1980s basement)
2- Selling this house and buying a more modern resale, about the same cost wise as #1 (CASH from sale of this house PLUS the extra $ we would have spent on renos)
3- Buying from a NEW Home Builder / Development… Same cost wise as options # 1 or # 2 above (although we’ll gain our modern Kitchen & Bathrooms… we’ll have an blank basement, no landscaping, and a much smaller lot… so not sure how far ahead that is in the long run)
4- Building a Custom Home … SAME PLUS PLUS… then we get exactly what we want… lot and house wise, but it’ll cost us a TON of bucks
In truth we really are down to options # 1 or # 2… with # 1 in the lead. Mr TTR just hates the idea of moving and all the “pains” that entails.
Hope this helps,
I honestly don’t have a preference as long as we’re buying and not renting.
We just bought a new build that the builder had already finished but we’re the first owners (I guess you are calling that a “spec home). We fell in love with the house and it is perfect for us (and had a ton of “upgrades” that are standard for the builder)! That said, I have zero opposition to buying a resale. I also wouldn’t mind building one day. I just want to own and not rent.
I’d love to live in a home I’d built myself.
But sadly, no one builds new homes where I live. There’s no land anymore. So unless I want to buy a home with enough land and then bulldoze it….
Cost not a problem? A custom well built home. Reality? A prebuilt. I feel that a lot of new construction just is shoddy compared to older homes. I stayed with a friend in their brand new million dollar house in MD a few years back, and was horrified to find that for a million bucks, they couldnt even manage to sound insulate the house at all. You could clearly hear the water running through pipes if anyone was taking a shower upstairs or just talk and hear someone a few rooms away. I’ve come across of new homes that seem to have this problem and cant stand it. But in any older home I’ve seen, it isnt a problem.
We have homes from 1891 and a 1910, love the original details of those homes and thier fun, quirky histories. They needed a LOT of work and TLC even though one had been gutted and the other had been updated. Water heaters, plumbing, roof work, brick maintnance…the list goes on and on.
Now we have a shiney new 2012 and it is practically perfect. We lucked out and the builder was putting in a handful of new houses in the same area that we live in and love for its culture and historical character. The houses are built to fit in with the community’s victorian herritage, thank goodness because we hate that ultra-modern 3 storey cube townhouse look. We are still a 10-15 minute bike ride from downtown and on a park.
The building process is stressful (especially if you have lots of input and stop by often) but in the end it IS worth the stress. We hope to be here several decades and (fingers crossed) hope for a few years without extra maintnance to our new home.
Here’s what I would consider the major Pros and Cons:
A home you built:
A spec home:
@Mrs.KMM: Sorry, yes, a spec home is one that at a minimum the framework was already up before you buy it. Here, you can buy them about 4 months in advance right up to immediate possession.
I think someday it would be nice to build my dream home. Right now I think that would be overwhelming! I also don’t want to wait too long to move in and it would really suck to leave it (there’s a high probability we could be transfered in the future).
Ideally, it would be nice to buy a spec home. We could move in reasonably soon after purchasing it. We might get one early enough in the process that we could pick some of the finishes without having to figure out everything ourselves. If we find one we can afford, we would go this way over a resale.
Sadly, I think based on what we want to spend and the areas we would like to live in a spec might be out of reach. If we get a resale at least we have the chance of getting great landscaping already completed, and not have to spend any money on blinds!
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