Does it make sense to build a custom home?
With all the options in the housing market, why is it a good idea to build a custom home? You may be surprised to learn that there are actually several great reasons to build a custom home, but let’s start with the most obvious:
Made for you
A “custom” home is a home that is customized to fit your lifestyle, whether it be luxurious, recreational, modern, contemporary, southwestern – you name it! When you build a custom home, you have the freedom to decide every detail, from location to size, from overarching style to finishing touches.
You spend more time in your home than in any one other place. For homemakers, children, and telecommuting professionals, time spent in the home is even greater than average. It makes sense to make your home everything it can be. For some, that means having a fully-equipped home office. For others, specialized hobby rooms are important. We’ve built everything from elaborate wine cellars for wine aficionados to a beautiful indoor pond for a Koi enthusiast. Whatever your passion, your home can be designed to accommodate your specific needs and desires.
If you’ve considered building a custom home, the reasons above probably go without saying. But here are some you may not have considered:
It’s good for the economy
“It’s good for the economy” seems like the latest justification for spending money on just about anything, but in this case it’s really true! According to the National Association of Homebuilders, on average, one new home creates three new jobs. This is good news for today’s job seekers! And it’s not just construction workers, either – new home construction touches a myriad of industries, and all of them benefit when a new home is built.
In addition to job creation, new home construction supports US businesses. Most construction material is made in the US, so building a new home not only helps your local economy, but the national economy as well.
It’s good for your family
Statistics show that children who eat dinner with their families multiple times in a week are significantly less likely to engage in risky behavior. There are also multiple studies that show that children whose parents know their children’s friends are also better off than those who are clueless. What does that have to do with building a custom home? Well, if you have a house perfectly tailored to fit your lifestyle, your kids will want to eat dinner at home, and they’ll want to have their friends over! If your house is the “cool” house, your teen will be more likely to hang out at your house with friends than to be who-knows-where doing who-knows-what.
Even if you’re not raising children, a house built around your interests will encourage family bonding, rather than leave the occupants going their separate ways to fill their time.
Location, location, location
Living on the Front Range in Colorado means you have the potential to live on a lot with gorgeous views. But, with an ever-growing population, that also means that if you buy a home in a conventional neighborhood, you have the potential to get a close-up view of the stucco on your neighbor’s home. If you want to make the most of Rocky Mountain living, you’re better off buying a lot you love and building a custom home on it. If you already own a lot, all the more reason to build custom!
Now is the time
Even with the recent housing crisis, according to the Pew Research Center, home ownership is still considered by most Americans to be the best investment. While economists may argue over which investments have the greatest monetary return, the fact is, everyone needs a place to live, and owning your own home means you will get the return on that investment instead of a landlord.
If homeownership makes sense for you, then now is the time to build a custom home. It is unlikely that interest rates will become more attractive to home buyers than they are now. If building your dream home is something you’d love to do, why put it off? The benefits to building a custom home start now, and the earlier you can get into a home built specifically for you, the longer you will get to enjoy it.
As you can see, there’s never been a better time to build a custom home, and there are more advantages to doing so that you may have realized. If you’d like to know more about the process of building custom, we’d love to hear from you!