Deciding whether you should remodel or move forward with a custom built home isn’t always a simple decision. It may depend on a host of often complicated variables. They may range from your personal tolerances for disruption to what you ultimately want to accomplish by way of a home.
What Are Your Goals?
When you first start thinking that your existing home needs renovation or you’ve simply grown out of it, identify the reasons why your home isn’t meeting your needs. They may help you understand the fundamental reasons you want to make changes.
Forces Beyond Your Control
The housing market may dictate whether you choose to remodel or sell. Generally, when interest rates are high or rising, the demand for homes declines and it may be difficult to sell your home for the price you want. Many people choose to renovate instead.
Move or Renovate?
If you live in a masterplanned community with a homeowner’s association (HOA), odds are the HOA will want to know every detail of your renovation, especially if the project involves extending the footprint of your home. You’ll also have to find out if the local jurisdiction will approve an addition based on the lot size and zoning restrictions. If they won’t approve the changes, your best option might be a custom built home.
Advantages and Disadvantages of Building a Custom Home
New homes have many advantages, particularly because:
- Everything is new. Major appliances and building components will have active warranties. You can choose any style you want, whether it’s avant-garde, traditional, or trendy.
- The design is up to you. As long as you can get plan approval from the local jurisdiction, you can lay the house out any way you want to.
- It will probably be more energy efficient. There may be higher efficiency standards and building codes for new construction than when your previous home was built.
The disadvantages of building a new home include:
- The time it takes to build new is typically longer than renovating.
- A new home costs more.
- A longer commute unless you can do a teardown or demolition on your existing lot or build on a lot close to work.
Advantages of Renovating
Although renovating your home usually involves some disruption, it does have these advantages.
- It won’t cost as much as a custom built home.
- You won’t have to move.
- There’s no need to uproot the kids from their friends, schools and the neighborhood.
The downsides of renovating include:
- The mess. You’ll probably need a dedicated dumpster outside your home for the duration.
- The noise. Most woodworking tools are loud.
- It lowers indoor air quality. Make sure your contractor uses proper ventilation methods to keep the dust and fumes out of the occupied areas.
The decision to renovate or go forward with a custom built home isn’t always simple. It’s important to take the time to think through the whole process and speak with a qualified professional like Alair Homes before moving forward. Taking the time to do both will help you to reach the best decision for you and your family.