New housing construction is at another record high for America. If you’ve outgrown your current home or apartment, you might be eyeing one of these homes. Or, maybe you’re thinking of building your dream home instead.

Can’t decide on which is the most economically-sound investment for your family? Well, it’s your decision at the end of the day, but we have a list of considerations to help you out.

Here are the biggest pros and cons of building versus buying a new home.

Pros of Buying

Buying an existing home comes with a number of conveniences, the most obvious being without the stress of planning it. You’re going out there and shopping for a home with the features that match your lifestyle.

This is especially true if you’re pre-approved for the mortgage on your new home. Planning for the construction of a home is such a long and stressful affair. It may not even be feasible to wait for the construction, inspection, and processing of a custom built home.

Buying a home comes with the added perks of having everything in the home already tested and documented, so there will be no surprises before putting money down.

Pros of Building

A home that is built specifically for the needs of your family is one that will grow with you. All the interior design work is customized to your needs and style. A home is almost like a living thing when you spend a large part of your life in it.

Building a custom home allows more choices as to where you want to live. This is ideal for those who want to place their family in a safe, accessible, and diverse neighborhood. You get to choose the proximity from the best schools, shopping plazas, and busy roads.

Buying pre-owned usually comes with a bit of sacrifice from one of these categories. You have to be careful and measure all the risks as a buyer.

The newest construction means you’ll get the best energy-saving foundation and features. Just take a look at some of the beautiful, modern project homes Sydney has on display.

Cons of Building Versus Buying

Both options come with their sets of cons to consider. Buying a new home may not come with the most ideal location. Building a new home might get you a lot less house for your budget.

Buying a home in the suburbs may be filled with resentment or disdain for the cookie-cutter culture. Building a custom home may come with setbacks, budget constraints, or delays that may frustrate you.

Get an Expert Opinion

As you can see, there are a lot of factors and variables when it comes to building versus buying a home. This is without covering the housing market itself right now. For a lot more insight and experience with homebuying, you should call on a realtor who knows about investments.

Bonnie Roberts has decades of real estate experience. Bonnie and her team can help you find the best home for your needs, whether that is bought or built. Contact them today for a free consultation.