Buying a home is one of the biggest investments most people will ever make, and taking care of that investment is important. The team at Singletary Construction can help with some expert advice.
Question: Our home no longer suits our lifestyle. Should we renovate, or should we start over with a new home – maybe even build a brand new home from scratch?
Answer: This is a tough question, and both options have their advantages and challenges. Here’s a closer look to help you make the right decision.
Renovating your current home
One of the biggest benefits of renovating is that you get to stay in the neighborhood you already know and love.
There’s no need to uproot your family or change school districts, and you can breathe new life into a home full of memories. Renovation also allows you to customize your space while preserving the existing character or charm of the home.
In many cases, renovation can be more cost-effective than starting from scratch – especially if you’re able to tackle projects in phases as your budget allows. However, older homes often come with hidden surprises like outdated wiring, plumbing issues or foundation concerns. Living through construction can also be inconvenient, and your renovation plans might be limited by structural constraints, zoning or HOA rules.
Buying or building a new home
If you’re ready for a complete reset, building or buying a new home offers a clean slate. You can select a layout and finishes that fit your lifestyle perfectly, and you’ll benefit from energy-efficient systems, modern materials and fewer maintenance headaches. Building from scratch typically requires a larger upfront investment, but, if your budget will allow it, often that additional investment pays off in the form of energy savings, warranty coverage and the enjoyment of a home built just for you.
Consider your timeframe. Renovations can often be completed much more quickly than a new home built from the ground up. A new home build can take as little as four months or much longer depending on location and complexity of your home plan. You’ll also need to consider the emotional impact of leaving your current home, community and school district as well as factoring in the hassle of packing up your house.
Which option is right for you?
Ultimately, the decision comes down to your priorities: budget, timing, emotional connection and long-term plans. If you’re considering a new home, schedule a free consultation with our team and let Singletary Construction build your forever home just for you!