Most homeowners have asked this question at one point or another: is it better to buy a home or build one? Our real estate development in Marana, Arizona weighs out some of the biggest considerations to keep in mind when making your decision.
Building vs. Buying a House: Timeline
It usually takes longer to build a house than to buy one — custom homes take an average of about 9 months to complete.
However, this isn’t a guarantee. In highly competitive housing markets it can take months for prospective home buyers to find the right place. Not to mention, if you find a house that needs a lot of work, it can take just as long or longer to fix it up. A lot of homeowners who end up building say the extended timeline to move into their dream home is ultimately worth it.
Building vs. Buying a House: Cost
On average, building a house costs more than buying — but that’s only the total costs. According to Realtor.com, the median price per square foot is $148 when buying and $103 when building.
One thing to keep in mind: when buying a house, you’re buying everything that comes with it. Regardless of if you don’t like the siding or crumbling deck, it’s part of the package — you’re not only paying for it, you’ll likely pay more to change or get rid of it. Buying a “steal” of a house can come with tons of baggage as well. There’s a good chance that the deal you thought you got ends up costing as much or more to fix than if you had built your house from the start.
With that in mind, it’s good to remember that a cheaper price tag doesn’t mean a better bargain. Plus, if you build in a place like Saguaro Ranch, you’ll gain access to private hiking trails and a clubhouse. If you bought a house with these amenities (or close to breathtaking vistas and trails), you’d have to pay an arm and a leg!
Building vs. Buying a House: Process
A huge draw to building a house is getting to customize details. While customizing an already-bought house is possible (and homeowners do it every day), it’s more time, work, and it can easily cost more.
Something else to keep in mind in the era of social distancing: it might be easier to social distance and minimize health risks with building a house rather than buying. Visiting and closing in-person is practically a necessity, whereas hiring builders to work on your house happens at a distance — regardless of COVID-19.
Additionally, visiting a house could put the homeowners at risk, even if proper safety precautions are taken and masks are worn. Builders might have less risk working outside in smaller crews (and certain parts of the job require masks anyways). But as a general reminder, it’s important to think of your safety and the safety of others, regardless of whether you buy or build a home.
Build (or Buy) at our Arizona Real Estate Development
Saguaro Ranch has premier estate lots for sale that offer unbeatable desert and mountain views. You can build your dream oasis in the foothills of the Tortolita Mountains, just a short drive from downtown Tucson.
But if you’re pretty set on buying, we have new options coming your way! Our Moonlight Canyon development is partnering with Miramonte to build some spectacular desert homes, available for purchase in 2021. Stay tuned for our upcoming houses for sale, or schedule a visit to look at our estate lots today!
