Note: This post follows the same story line as the article “Buying Vs. Building — Don’t Settle“. That being said — enjoy!
Last week, I wrote I wrote a pretty biased article about whether to buy or build your own home (Click Here to see the full article). I bought our current home, and I’m not really happy with it. You have to understand that it isn’t a terrible home, but if I had to put a percentage to our satisfaction (See “THE 90% RULEâ€), I would say that we are about 75 – 80% satisfied — not a bad approval rating! But when you have to live with it day-in and day-out, it can get kinda depressing (there goes my dramatic side again). Anyway, my wife and I have decided to get out of this mold trap as soon as possible — but we’re going to do things right this time; we’re going to BUILD!
Let me get one thing straight — buying an existing home isn’t always a bad idea. In fact, there are several benefits that come with buying an existing home. One of the most appealing benefits to buying an existing home is the convenience. That’s what drew my wife and me into buying our current home; we wanted to be settle in time for Christmas — which we were.
It really was a painless process; we looked at the house, made a bid, signed the papers, and moved our stuff. I was surprised that we had everything settled in less than a month from the time we made our offer! Convenience is a definite plus when it comes to buying vs. building.
Another benefit is the neighborhood. Most homes-for-sale are located in established neighborhoods; so unless you’re looking at an area that was hit with a lot of foreclosures/short sales you should probably plan on getting familiar with your neighbors — which may or may not be a good thing. In our case, the neighborhood was wonderful! One family brought us cookies; another family invited us to go to church with them; and several neighbors came caroling to us over the holidays. Welcome to Small Town, USA.
And then there’s the landscaping…. You have to understand something — I absolutely love working in the yard! Our current yard was a dream come true for me. It was totally overgrown with weeds; the wooden fence (if you could still call it that) was completely dilapidated; and the yard itself was totally uneven, rising and falling several feet in a completely inconsistent manner. I had such visions for this yard! It was going to be my sanctuary filled with countless hours of work and gallons of sweat! — I guess I’m just weird like that. One of the biggest factors was the mature trees. I love trees, and if you’re going to build a new home, you’re probably going to have to start with trees that you’ve planted all by yourself. So don’t plan on building any treehouses on your property for at least 20 years.
And speaking of time, that’s another draw for buying an existing house — the craftsmanship! You always hear the old-timers say “They sure don’t build ’em like they used to.” Well, it’s true! Older homes were built using naturally stronger, longer lasting materials like hardwood beams and wood siding; new homes usually rely on smarter design principles and lighter, specially-engineered materials to withstand the elements. Both homes get the job done, but newer homes usually don’t have the same rustic appeal. But you know what comes along with rustic appeal — RUSTY PIPES. Rusty pipes, bad wiring, mold, termites, and backed-up septic systems are just a few of the problems that can come with older homes.
So there really are a lot of pros and cons when it comes to buying a home, but the root of the problem is in the selection. When planning for your Dream Home, you have to take several things into account: the neighborhood and landscaping are important, but you also have to consider the community services (how are the schools? how close is it to shopping centers, post offices, etc.), keep in mind the aesthetic quality of the house itself, and you need to make sure that the layout of the home is practical for your lifestyle (something my wife and I neglected).
So there are several variables to consider, and it’s been my experience that you have a lot more control over those variables when you build it yourself. Buying an existing home limits your selection tremendously. In a given area, you only have a handful of houses to choose from, and it’s up to you to pick the best one. Unless you get extremely lucky, you’ll probably be forced to settle for less than 90%. And let me tell ya — it’s no fun!
But what do you think? I’d really like to hear your opinions. In the meantime, take care!
