Regardless of what your desired home looks like in your mind, we all dream of eventually living in a home that we love. Sometimes, it’s all we can think about. So, we work and work and work until we can make it happen. When you get to the point of being ready for the next step of getting your dream home, you can be faced with a lot of choices. Not only do you need to find the perfect place, but you also have to work out whether you want to attempt to buy it, remodel an old home to create it, or build it yourself from scratch. If you’re not sure what you want to do, these points might help you to decide.
Consider Your Budget
As much as you’d love to make this decision based on dreams, you actually need to do it based on your budget. Now, if you’re smart, you’ll work and save until you reach your target. But, if you’ve got time constraints and need to work with what you’ve got, that’s okay too. Once you have your budget in mind, you need to look at your options. You need to be realistic with your budget for a new home and take a look at what you can actually afford.
With your budget fixed and firmly in your mind, you’re going to want to shop around. You might think that you want to buy, or to build and be 100% sold on the idea, but it’s important to look at the market before you get your heart set on one or the other. When you’re buying a new home, or looking for a plot of land to build on, you need to see what is available and the average price of what you might want. This step alone could weed out some options, leaving you with what’s available within budget.
Write A List
Next, you’re going to want write a list. After your first look on the market, you usually have a better idea of what you’re looking for. But, it’s still important to prioritise your needs. Write up everything that you’re looking for. Whether that’s a large garage, the number of bedrooms or the size of the yard. Then, colour code everything so you know what’s essential, what’s desirable, and what’s a bonus. Then, you can start to make your choice and get a little more serious.
Then, you’re going to want to get a better idea of what the overall cost is going to be. The price of land or a home is one thing, but it never really just ends there. You have the costs of renovating to think about, and the build itself if you’re looking to start from scratch. Consult a home builder for an idea of what building will cost you, and get advice from a contractor to discover the costs of renovations that may need doing on the house. That way, you’ll know which option seems the better choice.
Weight Them Up
And finally, it’s time to weigh up your options. You might have ruled out all other options early on in this process, but if you’re stick stuck between the two, you’ll need to figure out the pros and cons of both. Work out which option fits best into your lifestyle, which you can afford and which will give you exactly what you’re looking for in the long run. Then, it should be clear to you whether you want to buy or build.