Building your own home can be such a rewarding experience, but it definitely comes with its own set of challenges. As you are considering starting the process of building your own home, here are 3 pros and 3 cons of building your own home to consider before you take the plunge.
Pros:
1. Cost savings:
Building your own home often allows for greater cost savings overall, than buying a pre-built home. You have greater control in choosing the materials you use and can often get better prices on them than if you bought a pre-built home. The cost of building your own home is definitely one of the reasons to consider taking on the project, if you are looking to be savvy in the initial materials and labor costs.
2. Customization:
Building your own home enables you to customize each detail to meet your exact needs and wants. From the layout of each room to the type of flooring, you have the freedom to make your dream home a reality. This customization also is incredibly beneficial in the materials being used for the home, where things are being sourced from and give you complete control of your home from the ground up.
3. Pride of Ownership:
Nothing beats the feeling of accomplishment and pride that comes with building your own home. You can take great satisfaction in knowing that you were involved in every aspect of designing and constructing this place which you’ll call home for years to come. Living in a home that you designed from the very beginning gives a weight to the pride of home ownership.
Cons:
1. Time:
Building a home can take anywhere from months to years, depending on the size and scope of the project. From the sourcing of materials, to budgeting out the design aspects and labor, factoring in any delays based upon the sources of certain materials. This means you’ll need to be prepared for a major time commitment if you decide to build your own home. Making sure to give margin to the timeline for unexpected set backs as well.
2. Cost Overruns:
Even with meticulous planning, it’s not uncommon for the costs of building a home to exceed your original budget. You’ll need to be prepared and have a plan in place to handle any unforeseen expenses that arise. Having prioritized aspects of the home design that can be scratched if the budget should be overrun. As well as setting the original project under budget to help create margin for yourself.
3. Stress:
Building your own home is an incredibly daunting task, so it’s important to be aware of how stress can affect the process. Making every decision and every call from start to finish can be incredibly overwhelming. Stress can cause delays, reduce quality, and result in a less than satisfactory final product.
No matter if you decide to build your own home or purchase an existing one, it’s important to take the time to consider all of the pros and cons before making a final decision. With careful planning and preparation, building your own home can be a rewarding and satisfying experience.