Building vs Purchasing

[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]

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]

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]

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?

 

[Buttercup]

. On the same reasoning, I want my children to play in the same area I live.

Hmmm. I wonder if you two will change your mind after you add a few more little ones? Sure is nice to be able to talk to your sweetie without everyone crawling all over you 24/7.

 

[MaddLlama]

My parents just moved to Michigan and their house has a gigantic kitchen...big enough to fit a formal dining table if they really wanted to. I figured that with a large enough kitchen decorated nicely, I wouldn't need a formal dining room. But, then again I may change my mind when my mother tells me that I'm inhereting all the good antique china.

We were also thinking about having a large basement, and one of the other managers suggested that with a large enough basement, if the kids (when they get older) become too messy, there's always the option of converting the basement into a small apartment for them. But, we'd start out with a bar and entertaining space down there, and if necessary convert it to a playroom first.

For 5 bedrooms, we're thinking something a little bit bigger than 4,000 if we can swing it. It depends on building cost, if we can go that route.

My MIL and I get along ok, it's not like we hate each other. But, we pretend to like each other more than we actually do. If we could get her to agree with the idea I'm sure she'd want to help (i.e tell me what I want). It's just getting her to agree to this idea that's the problem. =)

 

[jacquie4000]

I guess it just depends on what you like...I got lucky and bought an old home at an auction for a really good price. I feel in love with the woodwork as the kept it in excellant condition. The house is very solid. There is still alot of things I needed to do but like I said I got a really good price. It is unique and I love to be able to myself into it.

 

[MaddLlama]

BTW, check out this beauty:
http://www.beazer.com/findHome/hous...nprofileid=43290&locationid=&communityid=2661

It's a prefab house with those foam insulated panels. Now, it only has 4 bedrooms, but with a dining, living, study and family room, I think that more than makes up for an extra bedroom. And....it's got a side-entry garage. I've been turned on to those ever since my parents move - it makes the house look so much nicer!

 

[Buttercup]

I really like the style of that house! Construction must be less on your side of the country because in Eugene where I live that house would be at least $750,000 if not more.

Here's a few that I have bookmarked. We probably need to stick at around 2,000 sq ft because construction costs are so high here. I like European styling as well.

 

[MaddLlama]

Those are beautiful!! I love round elements on the front of the house.
Where do you live again? (Yes, after sending you a card, I still have no idea what state you live in. Short term memory loss)

 

[Buttercup]

In Eugene, Oregon. Actually, that house you posted would probably be more like $850,000 now that I think about it.

We dont' hear much about prefab houses around here. I wonder why? Do you think they're less expensive to build? That would be awesome.

 

[MaddLlama]

In Eugene, Oregon. Actually, that house you posted would probably be more like $850,000 now that I think about it.

We dont' hear much about prefab houses around here. I wonder why? Do you think they're less expensive to build? That would be awesome.

The houses thesmselves are around the same price, but because then you buy them they are already cut and only need to be assembled on site. Since it's not being build from scratch, construction is easier and takes less time, so it makes it cheaper.
They also save money in the end, because the insulation is better. So, less energy usage.

 

[Buttercup]

The houses thesmselves are around the same price, but because then you buy them they are already cut and only need to be assembled on site. Since it's not being build from scratch, construction is easier and takes less time, so it makes it cheaper.
They also save money in the end, because the insulation is better. So, less energy usage.

Hmmm, interesting. I'm going to have to look into that some more. Less cost for construction means bigger house or more property!

If you want a good site to look at house plans, check out this one........Scroll down the home page and you can search by the style you like.

http://www.houseplans.com/index.asp

 

[MaddLlama]

That's an awesome site! Thank you!

 

[Booko]

My parents just moved to Michigan and their house has a gigantic kitchen...big enough to fit a formal dining table if they really wanted to. I figured that with a large enough kitchen decorated nicely, I wouldn't need a formal dining room. But, then again I may change my mind when my mother tells me that I'm inhereting all the good antique china.

Get the dining room anyway. We have ours set up as the music room.

I've seen lots of people set their dining room up as the sewing room or the office, or as a place for the kids to do homework and craft projects. My MIL used her dining room as the "reading room" after the kids moved out. You can *always* use a spare room on the main level of any house.

We were also thinking about having a large basement, and one of the other managers suggested that with a large enough basement, if the kids (when they get older) become too messy, there's always the option of converting the basement into a small apartment for them. But, we'd start out with a bar and entertaining space down there, and if necessary convert it to a playroom first.

Really, you need the basement to shove the teenagers into so you can be posting on RF, undisturbed by their shouts of "Cheap!" and "Spam!" and whatever else they're about when gaming.

For myself, I prefer to renovate, but that means you have to find an existing house with a layout that will work for you, and that's the tough part.

If you're building, plan to spend lots of time on the job site inspecting the work. Once a day is minimum, and 3 times is better. And stand firmly by your contract.

I have yet to find anyone who built a house that was 100% satisfied with the work, because the contractor invariably does something to a) cut corners, or b) doesn't read the contract and does it the "usual" way.

Imagine having a house built in Michigan, and stopping by just as the guy is putting up the drywall on an exterior wall -- with no insulation behind it, because he want's to finish up in time for supper that day. Or imagine having someone install a septic tank that's "supposed to be pumped every year"...uh, who put in that piece of crap? If you'd known, it wouldn't be what you chose to do. That stuff happens all the time when you're building.

If you want to build, it can be great, but it's a lot of research and work and stress up front, and another year or two to shake out all the things they put in wrong that will need to be fixed.

Honestly, I do think there is something to the argument that most young couples really don't know what they want in a house well enough, and would be better off renovating to start with. Besides, when you have kids crawling about, your opinion of what you want is going to change pretty drastically on several fronts.

And when you get older, always make sure there's a bathroom on every level. I had foot surgery a few years back, and discovered a split level is NOT handy when you're convalesing. Everything I wanted to do is on the main level, and the bathrooms are up and down.