To Buy, or to Build?

1. Your Upfront and Down-the-Road Budgets

The cost of building a new home can vary depending on several factors. The same is true for a commercial

build. However, one common thing for both is that there are typically more upfront costs for new

constructions.

If the average existing property or home costs around $200,000, a similar new construction may cost

around $80,000 more. On top of the land and construction costs, you have to consider things like

appliances, amenities, landscaping, coverings, fencing, etc. These things are often included in the cost of

an existing home or commercial property.

You also have to factor in the cost of delays and how you may spend more on temporary solutions.

However, new builds have lower down-the-road costs since everything is customized, brand new, and

often in warranty.

New constructions are also more energy efficient than existing homes and commercial structures. On

the other hand, existing properties often require repairs, replacements, upgrades, and customizations to

meet your requirements.

You have to consider the cost difference and your upfront and down-the-road budgets. It's a trade-off

since you pay more upfront and less down-the-road costs with new builds, and vice versa for existing

properties.

2. Time Constraints and Flexibility

Finding and buying the ideal existing property can surely take some time. However, the process is

almost always faster than building a new construction. New builds also tend to have unforeseen delays,

so you need to be flexible and patient with the timeline of a new construction.

If you have time constraints or cannot be flexible with delays, you may want to consider buying an

existing property. But if you have the time and patience, the rewards of a new construction built to your

custom specifications are timeless, especially when you have a good contractor.

3. New Development or Established Locality

While you can always rebuild, remodel, renovate, or find an empty lot in established localities, new

developments are often easier for new constructions. You must decide if you want a home in an

established neighborhood, perhaps with benefits like better schooling, friendly neighbors, etc., or a new

development with fewer neighbors but perhaps more modern amenities.

Similarly, if you want a commercial property for your business, you must decide if you want it in a

competitive and established locality near your target audiences. You can also opt fora new development

where you can build your business from scratch with less competition.

4. What Do You Desire?

Perhaps the best benefit of a new construction is that you can have the build of your dreams. If the new

construction is a home, you can have the yard, garden, deck, etc., of your dreams. You can also create

the commercial structure you always wanted for your business.

Putting a dollar value on your dreams is tough, so you must thoroughly consider what you want. While

you can always buy before building your own, it may waste a lot of your time and resources to go

through both, whereas it is very tough to move from your dream build to an existing property.

Our Final Thoughts

Going through the mentioned things will help you decide whether buying or building suits your needs

better. While neither decision is wrong, we recommend opting for a new construction, as it is more

energy efficient and reliable, and you can customize it to no end.

At Blackstone Construction, we offer the best and most comprehensive residential and commercial

construction solutions, from general electric and tile work to remodeling and new builds.

If you want to learn more about our comprehensive construction solutions in Kansas City and St. Joseph,

Missouri, or if you want a free quote for your new build, please contact us today!