Build on or Buy New: Which is Best for You?

Tampa/Sarasota New Homes

If the house you’re living in doesn’t suit your needs, you may have either considered adding onto your home or building a new home. For many individuals, either adding on or building a home is the best bet for unique circumstances.

For example, you may be moving your mother in with you and want to provide her with an in-law suite. Because most homes on the market do not possess this unique feature, you will either need to build on or move on into a new home.

It is quite common when speaking of the San Antonio new home outlook 2011 for buyers to come to builders with unique requests and circumstances. Because building a home affords buyers the option of designing a home to fit their specific needs, many go this route. However, some homeowners decide to build onto their existing home to meet their needs.

If you find yourself in a unique situation regarding your home, you may want to consider both the advantages and disadvantages of building onto your existing home or building new San Antonio luxury real estate. Because the San Antonio new home outlook 2011 is looking quite positive, many homeowners are now considering building a home. Whatever you choose, here is both the good and the bad about either building new or adding onto your existing San Antonio residence:

Building On

•             Consider the cost effectiveness aspect. Some homeowners build additions to suit them, and that’s fine until the point comes to sell the home and they can’t recoup much of the costs associated with the addition. In other words, take into consider the length of time you will spend in the home and if you will price yourself out of the neighborhood by adding onto the home.

•             Consider the resale aspect of the home addition. Will the addition make your home stick out like a sore thumb in your neighborhood? Will you be able to add the extra space without compromising the curb appeal or aesthetic of the home? All of the questions must be taken into consideration when adding onto your existing home.

Building New

•             The San Antonio new home outlook 2011 looks quite promising, as more lenders are once again lending money to builders, developers and homebuyers. This could put you in a good situation, due to near historic-low interest rates.

•             A new home will allow you to choose everything about your home as you desire. A new home will afford you the opportunity to get exactly what you want, without trying to work within the confines of an existing home

•             Simply put, a new home for the San Antonio new home outlook 2011 is much more of a financial drain than a home addition. Make sure the market is in good enough condition to get you what you need to sell your existing home for in the San Antonio, Texas real estate market, and make sure you will be able to put at least 20 percent down on your new home.

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