Should I remodel my existing home or build a new custom home? This is a question we get asked by homeowners quite often. The renovation vs. new home build question has many moving parts, and thus the answer is dependent on your unique situation. As such, the right choice for you depends on what's most important to you.
With a home remodel, you're simply making changes to the existing structure of your home to upgrade or repurpose it. On the other hand, building a custom luxury home means you'll need to design your new home and build it from the ground up. Here's a look at some of the things to expect:
Since you'll be starting from scratch, the timeline for completion when constructing a new home is likely to be longer than for remodeling a home.
The decision of whether to build new or renovate comes down to which option makes more sense financially. When investing in a home remodel or a new build, you want to be sure you're getting the most for the money you're spending. The cost of a custom home design is more than that of remodeling your home.
Does your home feel a little dated? A home remodel will give it a fresh look but may come with a certain restraint that may inhibit your dreams. Constructing a new custom home allows you complete creative control over your home's design, layout, and floor plan.
When building a custom home, you have a blank slate to design your ideal living space. From the floor plan layout to what type of finishes will be used, you get to make decisions about every element of your new home.
When there is a need to make some changes to your home to improve the utility of your space and satisfy your lifestyle needs, a home renovation can work out better for you. Much as a home renovation can cover any part of the house, your wishes must accommodate the space already created if you decide to remodel.
The decision to renovate your existing home or build a new custom luxury home will depend on different individual factors for each person and situation. Your budget, needs, and situation should help you reach your final decision. While it's true that a host of other factors could come into play when you're deciding on whether to remodel or build a custom luxury home, your decision should be more straightforward now that we've separated fact from fiction.
Need help weighing your options? Feel free to contact us today!