Oden Home of Rhode Island on Purchasing and Renovating an Existing Home vs. Building a Custom Home

Oden Home of Rhode Island is a residential and commercial building company helping clients bring their building dreams to life. In the following article, Oden Home compares the benefits of building a custom home to purchasing and renovating an existing home on the market.

Home is where the heart is; and for those deciding whether to build their own or enter one that already exists, it can also be where the wallet is! That is just one of the many reasons why making the best choice is important when considering the outcome.

Oden Home of Rhode Island reports that there are benefits to both options when considering renovating or building. A home built from the ground up has the opportunity to be extremely energy efficient and offers low competition in style and design while renovating a home may be harder to achieve the design style a homeowner was hoping for.

In this article, Oden Home of Rhode Island reviews the benefits of building a custom home as well as the benefits of renovating an existing home. Each of these is an excellent option for a new homeowner, and by the conclusion, it will be clear that the main benefit offered between building a custom home or renovating an existing one is freedom for the buyer.

The Benefits of Building a Custom Home

Building a custom home may seem like a risk, especially if it is one that has never been undertaken before. There are plans to be made, consequences to be calculated, and of course, the bottom line of price!

Oden Home of Rhode Islands says that with so many of these overwhelming considerations to go over, it can be easy to overthink and ultimately overlook the actual benefits of building from the ground up. In order to help anyone wavering between the two choices, Oden Home prepared a list of the benefits below:

1. Unused Materials – The materials used for a brand-new home will, likewise, be brand new. This comes with some level of peace of mind as to how long each component will last, as well as an overall feeling of clean, unused products.
2. Low Competition – The competition for a house that is purchased on land of its own is completely gone. However, it is sometimes true that labor and construction supplies may be purchased with some competition. Ultimately, it is a worthwhile expense!
3. Ongoing Maintenance Kept to a Minimum – The ongoing maintenance of a brand-new home can be kept down to next to nothing, especially during the first few years of living, because the job will have been done right. Often, homes that are built new come with warranties for major issues, anyway!
4. Energy Efficient – Oden Home of Rhode Islands says that homes that are built during modern times are built exclusively with efficiency of energy spent in mind. Environmental impact, like ongoing maintenance, can be kept very low.
5. Sweet Design Freedom – Finally, the best part about building a custom home is that the buyer (and their budget) is in charge! Whatever a buyer can dream up and pay for, as well as reasonably fit on the land and within building codes, they can have. This is something that an existing structure just can’t always offer.

The Benefits of Renovating an Existing Home for Purchase

Oden Home of Rhode Islands says that as incredible as building a custom home is, it is still important to take stock of all available options. If building a custom home is, for whatever reason, just out of reach, there are still plenty of upsides to purchasing an existing home!

To make these clearer, we’ve numbered them below:

1. Lower Cost (in some cases) – The potential lower cost of an existing building is a benefit. As long as the renovations needed are not too extreme, renovating an existing home can be cheaper than building, though it does come at the cost of a little freedom. Additionally, there are usually more restrictions when it comes to what/how renovations can be done.
2. Quick Move-In Time – Oden Home of Rhode Island explains that regardless of renovations, there is no comparison when it comes to move-in timetables. A renovated house has the advantage of already being an existing structure, meaning buyers can expect to live inside relatively quickly. Most renovated homes can be lived in during the repairs.
3. Variety of Renovations Available – One of the perks of renovating an existing structure is that the home can be remade, to some extent, in the buyer’s image. If a room is not large enough, or a feature is unsuitable for the buyer’s needs, it can be changed once the property is purchased.

In Conclusion

Oden Home of Rhode Islands says that renovating an existing home for purchase vs. building a custom home may seem like an overwhelming comparison. However, once buyers understand all of the benefits associated with each option, the decision between the two becomes an easier and more joyful experience.

When it comes to building a custom home, the benefits are even more numerous, with maintenance kept to a minimum thanks to a job done right, energy efficiency, freedom of design, and of course, low competition for the property!

When all is said and done, though there is more than one perk no matter which option a buyer chooses, the main asset is freedom. A buyer has the freedom to choose between these two options, and then the continued freedom to design or improve a home however they see fit, maximizing the benefits and building away the disadvantages!