Home ownership has always been a huge part of the American Dream. According to the US Census Bureau, about 64.5% of Americans own their own home. Unfortunately, this figure is a bit lower than previous years. The economic downturn has made it increasingly difficult for people to purchase a house. However, the economic challenges we face don’t mean that you can’t own your own house. You may want to consider building your own home instead.
There are a number of benefits to owning a house. Here are some advantages that you should take into consideration before making a decision.
Flexibility with Choosing a Layout
One of the biggest advantages of owning your own house is that you have the opportunity to customize it to your needs. You can build as many rooms as you need and create a layout that meets your needs.
Lower Upfront Cost
The cost of building a house is typically much cheaper than purchasing one on the market. Builders also typically offer a number of discounts that you wouldn’t be able to take advantage of otherwise. You may be eligible for up to $10,000 in free upgrades that you would otherwise need to pay for, because they are often included in the service package.
Better Energy Efficiencies
Your furnace and cooling system will be brand new, which means that they should operate much more efficiently than those in older homes. This should cut your energy bills by at least $20 a month.
Tax Credits
All first-time homeowners are eligible for tax credits of $6,500. You can also receive additional tax credits of up to $2,000 for making your house more energy-efficient. It is much easier to build an energy-efficient home from scratch than making improvements to an existing home.
Create Your Own Timeframe
Building a new house from scratch can take several months. However, that may actually be much less time than it could take to find your ideal house. Many people have spent over a year trying to find their dream home. You shouldn’t expect the right house to appear on the market in the near future if you haven’t already found something that meets your needs. The market may take a couple of years to recover, so you should consider building your own house instead if you want to expedite your dream of being a homeowner.
More Flexibility With Location
It is a lot easier to find an undeveloped piece of land than it is to find a vacant house. This will give you a lot more flexibility for choosing the ideal location.
Your Contractor Can Guide You Through the Process
You can also choose a savvy contractor such as our friends at Pinnacle Home Builders that will help guide you through the process. They will give recommendations to help build a house that meets your needs. Make sure that you choose an experienced contractor that can help you build the home that you want.
