How do I decide whether to build or buy an existing house?

What should I look for in a custom builder?
Is cost per square foot a good way to compare and choose a builder?
What are some of the issues that are discussed during the design phase?
What's the process of building a home?
What should a contract with my builder include?
What kinds of warranties does a builder offer?

How do I decide whether to build or buy an existing house?

There are pros and cons to building a home. Take a look at these lists and think about your reactions to them.

PROS

A home matches your individual needs and wants (within reason!)

A new home can be built with quality; state-of-the-art components; everything works. For example, a new kitchen, a whirlpool tub, or an efficient state-of-the-art heating system.

A new home incorporates custom features or details that make it unique to you. For example, a special mantel, an arched screen porch, or a second story balcony over the fireplace.

You may have found a special piece of land. Now you can integrate the design of the home with the land.

A new home gives you pride and a sense of accomplishment at seeing ideas transform into a functional and beautiful space.

A warranty!


CONS

Lots of meetings and lots of decisions.

Paperwork required for financing (though not much more than buying an existing home).


DON'T BUILD

If you are able to find an existing home that meets your needs, tastes, and budget.

If you feel you need to move in immediately.

If decision making is overly stressful for you or your family.

If your personality makes it hard to you to work in a partnership role with the builder.