Building a Luxury Home vs. Buying and Remodeling

Building a Luxury Home vs. Buying and Remodeling

December 27, 2018

Regardless of whether you are buying your first home or have moved numerous times before, every homeowner’s ideal is to move into their dream home. When it comes to acquiring luxury real estate, you have two basic options: buy or build. Purchasing a home to remodel into a luxury home offers a number of benefits, as does building a luxury home from the ground up. Gaining a better understanding of these options and their associated advantages and disadvantages can help you make an informed decision for you and your family.

Buying and remodeling

Buying a home and remodeling it into a luxury home enables you to select the specific features and improvements that you want without paying for anything you don’t. Many homeowners choose to remodel an existing home because it gives them more creative control over the home so they can get a finished product that perfectly matches their needs and preferences. Another reason why many people choose to renovate a home instead of purchasing a new one is because it is typically a lot less expensive.

One of the primary disadvantages of buying and remodeling a home, however, is that you have to be far more selective about location. If you buy a home in a neighborhood without a lot of luxury homes for sale in Scottsdale, AZ, you risk overbuilding in a neighborhood where your home won’t gain as much value. Another important thing to consider is the configuration and the layout of the home that you want to renovate. Some homes simply don’t have enough space or the right layout to be renovated into a luxury home.

Building

Building a home from the ground up is beneficial in a number of ways. For one thing, you can completely design and construct your home from start to finish to meet your precise needs, preferences and specifications. You can also select a piece of property in an area that you like and that will bode well for the value of your home down the road.

The most significant downside to building a new home from the ground up is that it costs a significant amount of time, money and energy. Oftentimes, constructing a new home takes a lot longer than people expect, and it can come with quite a few headaches and complications along the way. Still, if you have the resources and the time to invest in this project, it’s absolutely worth considering—there’s really no better way to get exactly the home you want!

Find luxury homes for sale in Scottsdale, AZ

If you want to find out more about how to get the most out of luxury homes for sale in Scottsdale, AZ, reach out to Deanna Peters, REALTOR. For nearly 20 years, Deanna has specialized in real estate sales and purchases in and around Scottsdale. With her extensive experience and dedication to the satisfaction of her clients, you can feel confident that you are getting the highest quality services possible when you choose her for your real estate needs. Call today to learn more about all of the services that Deanna can offer you!

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Commentary written by Tina Tamboer, Senior Housing Analyst with The Cromford Report ©2018 Cromford Associates LLC and Tamboer Consulting LLC Provided by FollowUpResults