Is Building a Custom Built Home Realistic?

You may look at soaring interest rates and skyrocketing prices of practically everything and think that a custom built home is beyond what you can afford. In fact, sometimes it is easy to think that owning any kind of home is unrealistic. But paying rent for life is a bad investment, so if you plan, you can own a home. And realistically, a custom built home is just as affordable as buying an existing home that is already on the market. Sometimes, in fact, you can get more home for your money with a custom home simply because you can choose where your money goes.

A custom built home has some great advantages.  First, you get to have it built to your specifications, so you don’t have to deal with the tiny bathroom or the inconvenient storage shelving. Also, you can choose where to spend your money, which can actually save you money.

Imagine that you want a good-sized home, but you don’t really care about custom wood working. You can make that exchange when you customize the plans to your needs.  If you know you want a granite countertop, but you aren’t sure of the paint colors, you can paint your home in neutrals with an inexpensive choice of paint, then repaint with a higher quality two or three years down the road. This choice saves you money up front and gives you time to continue customizing your home through the years.

Many home owners make these kinds of compromises so they can afford the home of their dreams. Easy things to replace include cabinetry, carpets, and countertops.  You can’t easily replace pipes or electrical wiring, so customize your home with the behind-the-walls items, then replace others as the years pass. You will likely repaint and recarpet no matter what.