When you are on the market for a new home, you essentially have two options – you can choose to build a custom home or you can look for prebuilt homes. Obviously there will be pros and cons to each of these options, so it’s always helpful to gather some information first and then make the choice that’s right for you and your family. Depending on your unique needs, your budget, and sometimes even your preferred neighbourhood, you will likely find that a prebuilt home or building a new house is more appropriate for you.
So, let’s start by discussing prebuilt homes. One quick point of clarification should be made – a prebuilt home and a pre-fabricated home are not the same. Pre-built homes are those in neighbourhoods that developers have constructed on site. Pre-fabricated homes are those that feature parts that are manufactured in a facility and then shipped and assembled on the owner’s land. Pre-fabricated homes will not be discussed here further as their construction differs significantly from prebuilt and custom built homes.
When it comes to prebuilt homes, costs can be significantly less than those associated with building a new home. Prebuilt home prices include the cost of construction, appliances, and even landscaping, but your input or unique needs would not be considered in their construction. Nevertheless, as the homeowner, you would have the option of renovating your home to meet your unique specifications if you can’t find a prebuilt home that suits your family. That being said, renovation costs can be significant and may erase any savings you enjoy when purchasing prebuilt homes.
Another advantage of prebuilt homes is that they would be found in an established community; and quite often, they are in a neighbourhood with many other new, prebuilt homes. This means you can evaluate the quality and character of the neighbourhood before you purchase the home. And, as you would expect, prebuilt homes also come with the land they are built on which makes the process of securing your home a little more straightforward.
Alternatively, building your own home gives you total control over the build. These are custom homes where you can work from the early design phases right up to determining the finishing touches on the home. If you are looking to find your dream home, building your own home might be the best option for you. Keep in mind however, there is a lot more work to be done and the process can be lengthy. You have to secure the land on which the home will be built, hire architects, contractors, and other professionals, and you’re ultimately responsible for every decision in the construction process. If you’re looking to get into a new home quickly, the custom route may not be best for you – but if you have a vision of your perfect home, building your own provides incredible flexibility and control.