If you live in Canada, you probably feel it has a lot going for it. You have universal healthcare, and you can enjoy fun outdoor activities when there’s nice weather. You might go biking, walk in a park near your home, or visit one of the many excellent sports venues, museums, or restaurants.
When you’re house hunting in Canada, you might locate some homes that you like, but perhaps you’re not finding something that perfectly meets your needs. Maybe each house you find has some deficiencies.
Let’s say you’re house hunting in London, Ontario, for instance. You can’t find the right house, but you do find some land that you can buy and develop. If so, then considering new home construction in London probably makes sense.
Let’s talk about why people buy existing homes or build their own from scratch.
Reasons Why Building from Scratch Makes Sense
If you look at many homes and just can’t find the right one, that might frustrate you. You probably need several bedrooms if you have multiple children. You may also want features like a study or a room where you can work from home.
Perhaps you want a room you can use as a gym if you like staying fit. You may want a house with a large front and backyard. You may want an enclosed yard where your kids and pets can run around and get some exercise.
Maybe you can find houses with specific features you want, but can you find one with every detail you most desire? With almost all homes, you must settle in certain ways. You might get some things on your list that you want, but you won’t get others. For example, you might find a house with the bedrooms and bathrooms you want, but it doesn’t have a large yard for the kids.
When You Build a Home from Scratch, You Get Everything You Want
If you keep encountering this problem, building your own home makes sense. You can draw up the plans, or you might have an architect draw them up for you when you describe what you want. Either way, you can hire a construction crew and create the house you desire.
You can even have unusual features, like a spiral wine cellar. If you have the money, and you can imagine it, just find a space that’s zoned residential, get the permits, and get to work. Your family can enjoy your perfect home for years.
Buying an Existing House Sometimes Makes More Sense
Maybe you have an idea regarding what you want. You can envision your dream house, and you can even draw it up if you have some artistic skills.
Perhaps when you start pricing the project, though, you realize that you can’t easily afford it. Maybe you thought you could, but when you come up with the final figures, you can’t make it work. This project would completely drain your bank account.
You can always build a house where you strip away some nonessential features. Maybe you can’t quite have your dream home, but you can still get something similar. If so, you might still move forward. If you find that the price still isn’t working, buying an existing home likely makes more sense.
Sometimes You Must Compromise
Canadians who buy homes and don’t build their own far outnumber the individuals and families who build houses from scratch. Usually, financial matters inform these decisions. If you have lots of money, you can build your home from the ground up, but how many people can say they have unlimited funds?
You might find a house with many nice features, including those you value most. At least you can find one with bedrooms for each child, a small backyard, and other things you want.
You probably can’t have everything on your list, but that’s not so bad. You can make do, and adult life involves making compromises sometimes. Everyone does it.
Figure Out Your Best Option
When you look at existing houses and vacant lots where you can build, consider which choice works best. Talk with your significant other or spouse if you have one. Look at potential home locations, your financial situation, etc.
You can probably devise a solution on which your family members can agree. Maybe you’ll build your own home, or perhaps you’ll buy one that works reasonably well. Either way, you’ll probably enjoy your time there and create happy memories.