It’s decided. Your dream home from a few years ago is just no longer your dream home today. The single sink in the master bathroom isn’t cutting it. The kids are getting bigger and sharing a room really is not feasible anymore. And, no matter how many late-night Pinterest sessions you’ve embarked upon, that awkwardly shaped room still isn’t styled the way you’d like.
So, you’ve downloaded the real estate apps and stop to grab a flyer when passing by any “for sale” sign outside a house on your drives around town. But, have you considered building your new dream home? Often, those in the market to buy a home don’t consider building a home personalized for them. However, building a new home, instead of buying an older home, could be a great option, allowing you to get the home features that will serve your family’s wants and needs.
Buying vs. Building a Home
24 North in Phoenix, Arizona
While you’ve decided to pursue finding a new home, knowing whether to build new or buy resale can still require a lot of thought. Like with all choices, there can be pros and cons to building a new home yourself, what falls into each category depends on how you look at each consideration! Below, we outline a few things to consider when determining if buying vs. building a home is the right decision for you.
What to Expect When Buying a Resale Home
While escrow can sometimes be a little tricky to navigate, the timeline to move into an existing home is often pretty straightforward. Once the papers are signed and you’ve closed (depending on your contract with the seller) you can pack your things and move in.
You See What You Get
When looking at model homes you may see an overall layout of how your home will be set up, but differences also may come up when going through the process of customizing your new home. When buying an existing home, you can see the home’s layout, features, and design the moment you walk in.
But, There May Be Hidden Issues
While you may be able to see everything on the surface, there may be hidden issues in existing homes that are harder to find, such as issues with the foundation, plumbing or roof. While an inspection can uncover many of these issues, it isn’t guaranteed.
You Can Customize Over Time
Being able to live in your home for a while as you make it yours can be a great way to ensure you’re adding to it in a way that suits your lifestyle. However, larger renovations or updates may be disruptive if you need to plan around your day-to-day living arrangements.
What to Expect When Building a New Home
Waiting to Move-In
Unlike purchasing a pre-existing home, deciding to build your home means you’ll be entering into a construction timeline. So, instead of closing on a home, packing up your boxes into trucks and moving in, there is a period where you will watch your home being built before your eyes. This can be an exciting time as your home begins to take shape all to your specifications and customizations options, but it’s best to expect at least 6 months for your home to be built (and this timeline could change based on weather, included features, the home builder you choose, and additional factors).
If a prolonged timeline isn’t something you’re ready for – but you loved the model homes you toured – try looking for a quick move-in home. These homes have been customized by a designer and have set availability dates that you can align with your desired moving date.
Some future homeowners revel in the idea of choosing each and every item for their new home, while others may find the experience overwhelming. Spending a day (or a few) in a home design studio will quickly give you the insight into how many options there can be for flooring!
You Get to Personalize Virtually Everything to What You Want
Of course, all of those decisions you have to make aren’t for naught! You’re making them so your home is exactly what you want and what works for your family. Whatever you don’t like about your current home, or that you’ve been dreaming of having in a home, can be fully realized.
You Get the Newest Features
You can expect to have access to more energy efficient features, modern home designs and floorplans, and building materials that are more environmentally friendly compared to many older materials. Additionally, these items are typically covered by a homebuilder’s warranty.
Everything is Brand New
Ahhh, that new home smell! When you build your home literally everything is brand new and never used before, which can be quite the draw for some home buyers.
Building a New Home Process
While you may have previously bought an existing home, you may not be as familiar with the process of building a new home. The journey to building a new home includes a few steps that may be slightly different than you’ve experienced before.
- Securing a home loan. The home loan process for building a home is different than when buying an existing home. Since things like price, interest rate, mortgage amount and closing date aren’t locked down at the time of writing a new home loan, the process is different and more evolving than when securing a loan for a resale home. You can learn more about the homebuilder mortgage loan process in this Q&A.
- Choosing the best floorplan for you. Instead of having a home that dictates how each room can be used, you can decide what types of rooms you want now and what you may want in the future based on available floorplans. Making use of flex room spaces that can evolve in purpose over the years is a great way to ensure your new home can grow with you and your family.
- Picking the upgrades and features that you want. By determining what features are most important to you, you can allocate your budget most appropriately for desired upgrades. The representatives at your home design studio appointment are also helpful resources to inform what materials may be best suited for your household.
- Watching your home be constructed. It’s exciting to go from a model home tour, to a site tour, to watching the finishing touches go into your home’s design.
Building a New Home with Shea Homes®
At Shea Homes, we pride ourselves on providing the highest level of customer service throughout your new home building process. Take a look at what a few of our current homeowners have to say about their experience building a new home with Shea Homes.
“This being by far the single most important financial and lifestyle decision we may ever have made, we have never for a moment doubted our decision. The entire staff have made the process enjoyable and rewarding, and we are most impressed with the dedication of all to create a product of the highest quality.”
- The Kent Family, Shea Southern California Homeowners.