Building vs Purchasing (Earth, preference, holidays)

[MaddLlama]

Here's a question for all of you who own a home; assuming they money is not an object, is it better to buy a home and renovate it to meet your desires, or build from the ground up? Do you think that a young married couple, say in thier mid twenties, can know enough about what they want and need in a home to design and buils (as opposed to just buy and work with what you get)?

If would build, would you consider prefabricated homes like SIP homes?

[evearael]

My husband and I bought, renovated and sold a house last year. Money was a constraint for us and building was simply not an option. If you have a knack for simple repairs, by all means do some things yourself, but have a clear idea of what you are capable of handling and leave the rest to the professionals. It costs more to pay someone to fix a job that you messed up than to simply call them in the first place. Also, there can be regulations you could legally required to abide by depending on the project. We painted the entire interior, took down some hideous wallpaper, took out a poorly loved above ground pool, did massive landscaping, took out disgusting wall to wall carpet... but we called professionals to install the new carpet, do plumbing, electrical and structural work.

Ideally, we would like to build our own home after my husband retires from the military, but even my grandfather who was an architectural engineer and owned his own company designing homes and businesses had massive issues with contractors (like failing to read simple instructions and then wanting more cash to fix it) when he built his own home. If you choose to build your own home, be extremely cautious with who you work with... good recommendations are essential and make sure you have plenty of capital set aside in case a contractor decides to be evil.

[krashlocke]

It depends on the home. If money were no object, I would certainly build, but I would be picky as heck - many modern construction techniques have too many shortcuts that don't stand up well. I'd want to really know a good deal about home construction so I can tell what kind of work the contractors are doing and if they're capable. Another option would be to renovate a home that's over 100 years old and still in good condition - a rare find, but incredible when you do. My cousin completely rebuilt a home from over 150 years ago and you could see that unlike today's modular construction, single solid timbers extended from the basement to the attic - these were homes designed to last.

If money IS an object (and honestly, when is it not?), I feel houses are like cars - buy a recently built one, drive it for a few years, and dump it. Building can be expensive and risky and may surprise you at the poor rate of return. Let somebody else take that risk and possible depreciation hit. The land is what appreciates in most cases, not the home itself.

[Buttercup]

Oh how I wish we could get together to talk about this Madd! We'd have a great time over drinks and design books!

It can come down to personal preference and money but if you can swing it, I would have a home built to your specs. That's just my opinion though. I've done both several times in my life and our next move will be to a new home on country property. In fact, we're looking for property right now. It's so much fun.

It's cheaper to buy a solid older home and paint or do the cosmetic work yourself. But, if you're impatient like I am or your husband isn't handy...it can be excrutiatingly frustrating to wait for everything to look nice. We've lived in the house we're in for almost 4 years and all the work still isn't finished. That's what happens when you buy a 50 year old home, so much needs to be updated. However because we were newlyweds at the time and were using Rick's GI Bill for financing and bought it for $500 down, this place was perfect and I'd do it again in a heartbeat. But, our plans are to sell this house in year and a half and build new. Real estate has gone crazy here and in just 3 years we have over 100k equity in this little place.

When you build...everything is new and doesn't need replacement for years. Sometimes you don't even have to do the landscaping. You simply move in and add windowcoverings. You need to research contractors, be flexible and be ready to commit six months of your life to daily decision making regarding your house. To me it's fun...to others it might be stressful.

As far as the prefab homes, I'd see if they retain their value or lose value as modular homes often do.

Have you looked at lot prices in your area or acreage? Are there spec homes available nearby?

[MaddLlama]

I wish we could too. I have no married friends in NY =(

I haven't started looking at prices yet. My main concern is that it has to meet a budget and conform to certain standards set down by my in-laws. They're the ones who are paying for it, and my MIL has issues with building (she says that we don't know what we want). My husband and I have weird taste, so we figured that building would be best, especially since we plan on keeping our next home for a long time.

The SIP opition looked really neat - it's not modular, and it's more energy efficient. I have to do some more looking =)

[Buttercup]

Originally Posted by MaddLlama

I wish we could too. I have no married friends in NY =(

I haven't started looking at prices yet. My main concern is that it has to meet a budget and conform to certain standards set down by my in-laws. They're the ones who are paying for it, and my MIL has issues with building (she says that we don't know what we want). My husband and I have weird taste, so we figured that building would be best, especially since we plan on keeping our next home for a long time.

The SIP opition looked really neat - it's not modular, and it's more energy efficient. I have to do some more looking =)

Your inlaws are buying you a house? Well, that definitely changes the rules a bit.

If you want to build, I'd figure out what you want asap before they change their minds.

I have a few must haves for my next house. A formal entry, even if it's small. I hate the feeling of being dumped into the living room. I like a sense of entry with a coat closet close by. Also, I want a kitchen big enough to have a nice dining area along with an informal area to eat. I think formal dining rooms are a waste of space. I'd rather have a hearth room. A kitchen and dining area with a fireplace for coziness. And then perhaps a counter area to pull up a few barstools to eat breakfast.

I like a central hallway upon entry so that you can either turn left after entering and go into the living room or turn right and enter a den or library. Straight ahead and at the back of the house would be the kitchen. Then I want all the bedrooms upstairs along with another family or tv room.

Tell me some of the ideas you have. What do you REALLY want in a house?

[MaddLlama]

Originally Posted by Buttercup

Your inlaws are buying you a house? Well, that definitely changes the rules a bit.

Yeah, his parents are crazy rich. They pay for a lot of things, unfortunately.

[quoteIf you want to build, I'd figure out what you want asap before they change their minds. [/quote]

Well, mom says that we should buy and renovate. So, I have to make a compelling argument for building. =)

I have a few must haves for my next house. A formal entry, even if it's small. I hate the feeling of being dumped into the living room. I like a sense of entry with a coat closet close by. Also, I want a kitchen big enough to have a nice dining area along with an informal area to eat. I think formal dining rooms are a waste of space. I'd rather have a hearth room. A kitchen and dining area with a fireplace for coziness. And then perhaps a counter area to pull up a few barstools to eat breakfast.

That sounds fantastic!

I like a central hallway upon entry so that you can either turn left after entering and go into the living room or turn right and enter a den or library. Straight ahead and at the back of the house would be the kitchen. Then I want all the bedrooms upstairs along with another family or tv room.

Tell me some of the ideas you have. What do you REALLY want in a house?

Space is a huge thing. Part of the reason I would rather build is because it's hard to find houses with more than four bedrooms here, and we would like to have at least five. I figure that this is more than enough for our personal rooms (I want a craft space, and he wants someplace to keep all his books), and it also gives us room for later when we have kids. I would really like to have a large kitchen with an eat-in area. I'm undecided about a formal dining room, it depends on whether or not ai want to entertain for holidays. I also love vaulted ceilings, it would be nice to have that in the entrance room. And, finally a big thing is large windows. I want to be able to look out my windows and see nature.

[krashlocke]

My personal prefrence has always lended itself to large open (flexible) living areas with a few large bedrooms (make the kid sleep and cope with eachanother) with the focus on common area. I have no interest on being seperated from my beautiful wife, regardless of my interests and ecsentricities. On the same reasoning, I want my children to play in the same area I live.

[Buttercup]

Originally Posted by MaddLlama

Space is a huge thing. Part of the reason I would rather build is because it's hard to find houses with more than four bedrooms here, and we would like to have at least five. I figure that this is more than enough for our personal rooms (I want a craft space, and he wants someplace to keep all his books), and it also gives us room for later when we have kids. I would really like to have a large kitchen with an eat-in area. I'm undecided about a formal dining room, it depends on whether or not ai want to entertain for holidays. I also love vaulted ceilings, it would be nice to have that in the entrance room. And, finally a big thing is large windows. I want to be able to look out my windows and see nature.

I have lived in one older home with a fireplace in the kitchen/dining area and just loved it. People tend to linger longer over food and drink plus you have the kitchen handy for refills. If money were no object, I would have a formal dining room for family gatherings or large crowds. The last new house I lived in and designed was 2800 sq ft and we had 5 bedrooms with a formal dining. We never used it though...even with family. Everyone seemed to hover in the kitchen so we turned the dining area into a library. It was just off the living room so it seemed natural.

I agree with the vaulted ceilings...especially in the entry. I think the entry ceiling was 25 ft high in that house I just mentioned and the hanging light fixture was amazing plus it was beautiful at night shining in a window that showcased it. But, to save energy we had 9ft ceilings in the rest of the house and I liked that.

The nice thing about bedrooms upstairs is that kids tend to be slobs...especially in the teen years. That way if you have people pop in, you don't have to worry about their rooms. If you just have your formal living spaces downstairs, the house stays much cleaner. Take it from me, I have four kids. Also, I LOVED having a large room upstairs for a TV because the kids could go up there and make all the noise they wanted when company was over and we couldn't hear them when the door was closed. Of course when just our family was at home we all huddled together in whatever room the action was in.

Do you have any idea of how large a home you want? I'd recommend close to at least 3,000 sq ft if you want 5 bedrooms.

Do you get along well with you MIL? Is she much help with all this?