Custom Home vs. Pre-Built Home: Which Is Better for You?
Buying a new home is an exciting time. It often symbolizes a new period of time in your life, and for many people, the equate buying a new home to starting over. Buying a new home is also an incredibly complicated process with a wide variety of decisions that you need to make. One of those early decisions is deciding between a custom home and a pre-built home. There is no one right answer for everyone, and there are a variety of things that you should consider.
Custom Home
Pro: Customization
The main draw to buying a home as it’s being developed (or contracting it to be built outright) is that you get to customize the home to your heart’s content. You can choose the layout, the materials, appliances, and anything else you want. You can integrate smart home technology to your home or add that fireplace you want (or both). This exact process will depend on your contractor, but they will work with you to make your home exactly what you want.
Pro: Long-Term Value
Custom homes have a better long-term value than buying a pre-built home for a few reasons. The first is that the home is as new as it gets, meaning the property value is only going to go up over time (assuming you take care of it properly). Additionally, if you invest in the top of the line appliances in your home, you likely won’t have to worry about needing serious maintenance done for a while.
You can also design your home with your future in mind. If you’re planning to start a family in the next few years, you can choose a floor plan with more bedrooms. Buying a custom home means you can look to the future and not worry about having to move so soon.
Con: Higher Price Point
With the choice for customization comes the price of doing so. Even if you choose some less expensive materials where you can, custom building companies often charge more for the home than pre-built homes because of the option to customize things. Pre-built homes are less expensive because their uniformity allows them to be built at a quicker speed.
Con: Longer Time Before Move-In
Because you’re waiting for the home to be built, there is obviously a time period between when you purchase the home and when you can actually move in. If you’re looking to move quickly, this may not be the option for you. Talk with your contractor to see how long they expect building your home to take (and then expect it to take a bit longer).
Pre-Built Home
Pro: Ready Quickly
Pre-built homes are ready for move-in as soon as you sign the paperwork and the money clears your account. This makes them great for those who need to move into their new home quickly and those who simply want this process to be over as quickly as possible.
Pro: Less Expensive
Because they can be made quicker than custom homes, pre-built homes are inherently less expensive than custom homes are. There’s less buyer input that the contractor has to account for, and they can buy their materials in larger quantities because they’re making several homes in a similar way. Buying a house is a big expense, and if you’re working on a budget, a pre-built home might be better for you.
Con: Don’t Have Total Control
The major downside of choosing a pre-built home over customizing one is that the home may not be exactly how you want it. While there may be several things in the layout that you love, you might need to compromise on a few things. You have to separate your needs from your wants when choosing a pre-built home, which is not the case with custom homes.
Con: Might Not Be As Good
Home contractors will do their best job while building pre-built homes, but the results might not always be as top of the line as you might want in a home. Things like smart home security systems, energy efficient appliances, and certain durable materials cost more money, and home builders aren’t always willing to invest in those things before the home has even been sold. If top of the line items are important to you, you might consider investing in a custom home.
