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Should I Buy Or Build A Home? Here’s How To Decide

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Let’s say that you have been living in a small apartment for years and have finally decided to take the leap and move into an actual house to call a home. From here, the big question is if you should buy one or build one. The issue here is that the correct answer is not exactly an easy one to make and really depends on your overall goals and life aspirations. Based on your desires, budget, and future plans, when it comes to making the final decision on building or buying, the choice is ultimately up to you.

Overall, if you know right off the bat that you do not want to stick around the area for long, then maybe buying is the best path to take. However, for those of you who wish to invest your time, energy, and money into a long-term place and feel genuinely at home when you open the door every day, then building is undoubtedly the more valuable route to take.

The Benefits of Building

House shopping with a respected realtor might be the “easier” journey, but the chances of you discovering a home that contains every feature you have ever wanted without the need to remodel is virtually slim to none. There will inevitably be something that requires rework or swapped out. And that very reason right there is the primary aspect as to why so many people choose to build over buying. Builders get a say in every construction aspect and know that it is 100% how they want it to be when the final home is done. In conjunction with this, there are so many other benefits that surface when building a home.

  • It Is One of a Kind – Do you crave a massive walk-in closet in your bedroom? Go for it! Building your home is an entirely customized experience, and you can take pride in knowing that your home is not a cookie-cutter replica.
  • You Save Resourceful Time – Planning with a general contractor does take some time, but you are investing that time into something that you know will be precisely what you want. No more scoping out homes, just to realize that it is not the one for you. Your focus and energy are going into that ideal home you are picturing, and every second is not wasted.
  • You Get to Pick the Location – Another thing that happens far too often is home seekers unearth the perfect home, but they hate the location. With building, you can eliminate that ultimatum because you get to decide where your dream house will be constructed.
  • Everything is New – One of the many perks of building a home is knowing that everything will be fresh, new, updated, and to code. Not only is this safer, but you also do not have to worry about replacing anything like wires or wondering if the roof needs to be replaced. Plus, new construction technology equates to better energy efficiency as well, such as cutting-edge heating systems and building materials that save you money down the line.

Where Buying an Existing Home Shines

I could go on and on about how building a home is a great option, but there is a flip side to the argument as well. For instance, depending on the new build, it may cost more than buying or remodeling an existing home. Keep in mind that this is not always the case, but you will want to look into it. Compare the costs of buying a new home with construction aspects, such as clearing the land (if wooded), pouring the foundation, putting in a driveway, the house frame, electric, plumbing, sheetrock, trim, etc. It can all get costly, but the total is what you will want to be mindful of to see which is more financially attractive for your particular situation.

Furthermore, because banks generally only cover about 80% of that total cost before docking you with PMI, you need to have a decent savings to ensure you can fulfill your end of the bargain. This very component right here is why buying a home sounds more attractive to many who have financial constraints.


As you can see, there is a lot that goes into building a home from scratch versus buying one, but it is undoubtedly worthwhile if your life goals are aligned with it. The first step in knowing which way to go is looking at your future and laying out where you want to be and go. Now, if you are still up in the air if building is right for you, don’t worry too much. This is a huge decision that should not be made overnight, and it is certainly not a one size fits all scenario.

There is no right or wrong answer here. So, take some time to dig deep into what you want to get out of life. Try writing down your goals and do a thorough analysis of them to carve out the best direction for you to take. In summary, only you can decide what is best for you, and as long as you plan appropriately and make the best choice for your life, you can be confident in your final house verdict, regardless of which one you choose.

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