Building vs. Buying a Home

By Jeff Hambright, Mortgage Loan Officer

You may be thinking, “Which is the better option? Buying an existing home, or building a home from the ground up?” While both options have their benefits, and essentially lead members to homeownership, there are some pros and cons to consider. Let’s take a look.

Building a Home


  • The home is fully customizable
  • You have the ability to build your dream home
  • No other homeowners in the home’s history
  • Every appliance will be brand new and unused
  • No expected maintenance in the immediate future
  • New homes are often built with more efficient energy saving materials


  • Every decision about the home, from carpet to hard wood floors and counter tops need to be made by you – the options can be overwhelming
  • The amount of time it takes to build a home
  • Hidden costs (lawn, paint, flooring, etc.)
  • Often times you’ll be building in a new subdivision, and your home will not be the only home being constructed. Noise and construction will be an ongoing issue after you move in.

Buying an Existing Home


  • You can negotiate the price of a home
  • There could be included benefits like a pool or deck
  • Your yard will be more mature with older, more established trees and landscaping
  • You can move in right away
  • With fewer decisions that need to be made right away, you will be less stressed


  • You might have to make sacrifices, and may not get everything that you hoped for
  • You will inevitably have maintenance costs sooner with an established home
  • You may have buyer’s remorse if you end up not loving the floor plan after living in the home

Ideally, after considering the pros and cons, you will be able to confidently make a decision to either buy or build a home. While we only list a few, there are hundreds of pros and cons about both options – many of which can depend on homebuyer’s wants and needs.

If you are looking to build a home, have a firm grasp about how much money it is going to cost, how much time it will take, and the number of decisions you will have to make. On the other hand, if you are looking to buy a home, have a firm grasp on the home you’re looking for, how much home you can afford, and what you are willing to live without, vs. what is necessary.

For questions, reach out to our team here.