Making the decision to buy new or remodel an existing home is not an easy one. There are some keys to determining whether one or the other is the best option for you and your family. We would like to offer you the best advice we can, so that you are prepared to enter the market. And that includes both the real estate and contractor search markets.

If you’re thinking you would like to own a brand-new home, RedInk Homes might be the best option for you. This is particularly true if you are located in Australia. They offer exceptional service catering to your every whim. And, since they’ve been in business for 10 years, you can trust their expertise and the awards they have received. Of course, you may not be completely sold on purchasing a brand-new home, so please continue reading to learn all you need to make an informed decision.

Determining Whether to Buy New or Remodel an Existing Home

Let’s Evaluate the Options

Convenience and cost are the two best reasons to consider buying an existing home. All you need is lender pre-approval and you’re on your way to having the best house for your money. And, with the assistance of a good real estate agent, you can enjoy a fairly streamlined process.  Make an offer and let the agent deal with the negotiations and paperwork. Then, within a matter of months, after your offer is accepted, you can be sitting at the closing table receiving your new set of keys. (Learn more about closing on a house, here.)

Sure, buying an existing home takes some time, getting the financing secured, looking at the various homes in your price range, making offers on the ones you like, and scheduling inspections and closings.  But, the fact that you can move in right away, makes buying an already existing home highly desirable. Add in the fact that it’s usually cheaper to buy a house that already exists, well, it’s hard to understand why people are willing to wait.

However, there are significant disadvantages to this option as well. The number one issue is that you probably won’t be getting exactly what you were hoping for. The floor plan may only be “ok.” A lot of older houses are missing the extra bathrooms and storage space that many of us have come to desire. And, you may have to do some serious remodeling to get the house in tip top shape. Learn more.

So, that leaves us considering building a new home. This is not a convenient option. You will need land, and the time to get an architect and a builder. And then, you will be responsible for choosing all the structural elements. You might also have to worry about whether you’ll need your own water and septic systems.

Yet, the beauty of building your own home affords you the luxury of getting exactly what you want. It will probably save you money in energy, insulation, and filtration since new homes are more efficient in those realms. Besides, a new house won’t have the risks of harmful chemicals lurking in hidden corners. You’re more likely to be going “green” when you opt to build a home versus purchasing one that’s already there.

Of course, it would be impossible for us to delineate all the pros and cons attached to this decision. But if you’d like to read more about it, click this.