In the US, 65.8% of households own their homes. While the majority of people pick houses that are already existing, a select few might choose to build their own instead.
It’s true that building your own home takes a lot of time and effort. But in the end, it can be highly rewarding and give you benefits that prebuilt houses won’t.
Interested in hearing more? Then keep reading for 4 major advantages you’ll get from building your own home.
1. It’s Completely Customized for You
This is the biggest, most obvious benefit you’ll get from building your own home. You won’t have to compromise on your wishlist when building from scratch, because the designer, architect, and builder you work with can implement everything you want.
When you see a house that’s completely built for your needs, it’ll truly feel like home. Not to mention, it’ll also make life easier.
2. It’s Completely New
You’ll be the first people to live in the house since it’s completely new. That in itself can be a huge benefit already if you don’t feel comfortable with the idea of living somewhere that many others have.
Also, because it’s a completely new build, the chances of having to make repairs (especially major ones) are pretty slim. So you won’t have to worry about these extra and unexpected expenses for a while.
3. You Won’t Have to Compete
In many places in the US, the housing market is extremely hot. Bidding wars are common, and they can be stressful.
You’ll get your hopes up about moving into a house, only to be disappointed when your bid isn’t expected. And the worst part is, you’ll have to do this multiple times, with possibly nothing to show in the end.
Building your own home means you won’t have to go through bidding wars. You’ll buy the piece of land you want your home built on, and once the construction’s done, it’s move-in ready!
4. You Can Get a Construction Spec Loan
Traditionally, if you bought a prebuilt house and needed financial help to do so, you’d get a mortgage. When you build a new home, you can get construction spec loans instead.
This is basically a loan for a new home build, and it’s on a much shorter term than traditional mortgages are. Once you’ve finished building your house, then you can treat the construction spec loan like a regular mortgage.
Building Your Own Home Is Advantageous
Yes, building your own home will take lots of blood, tears, and sweat. But in the end, the benefits that come with doing so will be well worth it when you have a fantastic roof over your head for years to come.
So if you’re in the market for a new house, consider having it built from the ground up. It’ll be something you can truly call your own!
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