If you're looking to get into the home of your dreams, you have options. For starters, you could renovate your existing home until it matches every item on your wish list, but of course, the barriers to obtaining your vision would be numerous. The most common option would be to scan the real estate listings until you find the perfect structure for your family and your needs. But, the only sure way to get into the home of your dreams is to design and build a custom home with the help of the design-build professionals at Chris Gorman Homes.
Building New vs Buying Existing: Which is Right for You?
According to TheBalance.com, building a new home has a nationwide median price of $372,400, and buying an existing home has a median nationwide price of $341,600. So, on the surface, buying an existing home looks like a cheaper option. But if we look a bit deeper, we will begin to see some of the hidden costs of buying an existing structure.
The Hidden Costs of Buying an Existing Home
If you've ever seen the 1986 film, The Money Pit, you're familiar with the worst-case scenario when it comes to buying an existing home. But you don't have to grossly exaggerate the very real costs of purchasing an existing structure to understand how expensive it can really be.
Less Energy Efficient
The newest homes are built with the latest materials, components, and construction techniques to be more air-tight, more resistant to mold, bacteria, and pest invasion. They tend to feature the most advanced and energy-efficient HVAC systems as well. Right off the bat, this will look more expensive than buying an existing home, but the month-to-month costs of heating and cooling a poorly sealed structure using an inefficient heating and cooling system will mount up quickly. In the most extreme cases, you can expect to throw away $100 a month or more just to heat and cool the indoor air.
Building a home is a bit like making a bed. If you make a mistake laying down the sheets, you've got to re-do the whole thing or just hope to fall asleep fast. With older homes, mold, bacteria, and pests may have infested the underlying structure. When this is the case, only extensive renovations can hope to address the problem. If you have a dangerous mold bloom growing under floorboards, in walls, or behind load-bearing structures, your home may be unlivable. You could end up taking on tens of thousands of dollars on top of the original sticker price of the home. Add to that the cost of finding temporary living accommodations until the renovations are complete, and the total price could be anywhere between $30,000 to $100,000.
Existing homes may also suffer from radon gas, which seeps up through the foundation and is a serious health hazard. Radon remediation requires sealing the foundation, installing, and maintaining detection equipment. Naturally, the risk to your health could end up costing much more.
Not Designed With You in Mind
As mentioned above, buying an existing home means picking from a set of real estate listings, none of which have been built with you in mind. The purpose of building a custom home is to make the home you have always wanted into a reality. Many people will spend their entire lives going from one home to the next trying to meet a long list of wants and needs without ever really knowing what they are.
When you build a custom home, you get to design the floor plan to suit your wish list, choose materials and design elements, incorporate a timeless bathroom design or timeless kitchen design, and more. Maybe you love the conversation pits that were so popular in the 1970s. Perhaps you're dreaming of a grand spiral staircase with a ship's wheel mounted on the over easing. Or maybe you're dreaming of a magnificent bay window next to your easy chair with a grand lakeside view. We could think of hundreds of examples!
A true home is a reflection of the mind, life, and way of being of the people who live there. Your ideal home is as unique as you are. If finding a house that's a perfect match for you is important to you, then designing and building your own custom home is the surest way to be happy with your investment.
The Advantages of a New Custom Home
A custom home will be designed by you and our team, working together to build a structure that will be like nothing you have ever seen before. A home that matches your lifestyle and your family – a home that will live on in your loved one's hearts for generations. But that's just a start.
A new home, expertly designed and built using the latest materials and techniques will be more energy-efficient, saving you untold thousands of dollars over the coming years. Advanced materials can be highly resistant to the ravages of mold, mildew, and pests. A new foundation can be pro-actively sealed to guard against the possibility of radon ingress.
But most importantly, you can stop searching real estate listings hoping to find something that only exists in your dreams, by working with the best home builders in Cincinnati.
Looking to Build the Home of Your Dreams? Call Today
Let the design-build experts at Chris Gorman Homes make your vision a reality with a fully customized design envisioned by you. Whether you're looking to match the latest design trends or just create a home that you will adore, our team has the experience and expertise to make it happen. Get in touch today to learn more about the advantages of custom home design.