Many people have a passion when growing up about owning their own home. When the time is right to make that first step, should people buy an existing property, a new build, or even build their own from scratch?
As simple as the above question sounds, it requires a deep consideration of several factors to decide which option is the right one. So let us quickly check out the perks and downsides of buying an existing property.
Good reasons to buy an existing house
Buying an existing property gives you the convenience of moving into a home that, in most cases, is usually ready for you to reside in without having to carry out major work. You are able to view the property as it is and start to make plans in your head for how the property might work best as your new home.
Similarly, walking into the showhomes of a professional and experienced house building company like Anwyl homes; you will have the opportunity to view a variety of new homes in Northwich and other areas, with innovative and bespoke designs tand options to tailor the home to your requirements to some extent. Furthermore, the processes for new builds are often faster than you realise, and you will know exactly what you are spending your money on, and with no hidden surprises.
Buying an existing home is an easy way to settle in an already established neighbourhood as opposed to trying to find vacant land in a good location that happens to have good nearby amenities. The best option is nearly always to purchase a home in a well established neighbourhood that closely matches your requirements.
Additionally, buying a home could be the best way to take control of your budget since you already know the exact fixed cost of your home of choice. This is not the case with building a new home from scratch. With the latter, you are faced with a lot of variable costs; it is very difficult to predict the exact amount you would spend in erecting your own property as the cost of building materials can sometimes fluctuate.
Buying an existing property avoids much of the risk. Building a house from scratch requires you to have a builder you can trust. Additionally, you’ll have to go through the process of gaining planning permission for your proposal, a process which isn’t always as straightforward as you might think.
Overall, buying an existing property could prove less stressful than choosing to build a new one from scratch and all the planning and budgeting it entails. Having the certainty from a survey that your house has no hidden problems before you buy it provides you with a relatively risk-free purchase.
Most home builders take their time to erect quality houses, and home owners will look to protect their investment by properly maintaining their properties. When they have outdoor issues with their property that require some work to be done at height, using a scaffold tower from reputable companies like BPS Access solutions helps ensure that this maintenance is done safely and keeps your property in tip top condition, avoiding bigger problems in the longer term.
Downsides to buying a house
It is not all rosy with buying a property; they can come with some disadvantages too. Depending on its age, buying an existing house can come with severe issues like subsidence, roof leakages, leaking pipes, old electrical wiring that needs replacing, warped floorboards etc, which may cost you extra funds to fix. In some cases, these repairs may be quite large, requiring decent sums of money.
Even relatively straightforward projects can cost a lot of money. For example, if you want to upgrade the doors and windows to double glazed windows to improve the appearance and energy efficiency of your home, you will have to find the extra money to purchase them from a reputable company like Clydebuilt Home Improvements.
Also, buying an existing house will not offer you the full customisation you need. And as such, you may have to pay extra costs to change the house to your exact requirements, whether that’s something major such as changing the use and orientation of rooms or making simpler changes such as decor, flooring etc.
Putting it all together, whether you want to buy an existing home, a new build, or even build yours from scratch, you will need to carefully consider the advantages and disadvantages that come with any of your decisions. Overall, the ideal answer to the best option will be based on your owner’s personal preference, individual requirements, financial situation and willingness to throw yourself into project managing any work required on the property.