When many people think about their dream home, they envision each room and plan out the layout and all the features. Essentially, they build a custom home in their mind or even on paper. Custom home building is an excellent way to get everything you want in a home, but it does require a financial investment. It’s also not the only option. As an alternative, you may be able to complete a major renovation to your existing home to create the perfect living spaces. Upgrading your kitchen, adding a master bath or building a home addition to provide space for an office or playroom are examples of this. Deciding between a major home remodel and a custom built home is challenging, and it requires careful review of many factors. Your attention to each of these vital points will help you to make a decision that is well-suited for you and your family.
Your Concept of a Dream Home
A dream home is aesthetically pleasing as well as ideally functional for the family’s needs. The rooms inside are places where everyone feels completely comfortable and relaxed. Therefore, the first step to take when making this important decision is to determine what you and your family need in a home. Is it a specific number of bedrooms? Do you lack a master or secondary bathroom? Is the layout less open than you would like? Or is your lot not the right size or condition for a functional outdoor living space? You also need to think about available storage space, lighting and other practical features. After you have determined what you need the home to have, create a list of wants. Keep in mind that the home’s location is also a critical factor to consider. Is your current home in an ideal location, or are there features that you may improve if you relocate to a new neighborhood?
Regulations and Limitations
After you determine what you need and want in a home, examine regulations and limitations for your current home and neighborhood. If your existing square footage and layout will not meet your practical needs, you may need extra space on the property to build a new wing. You also need to ensure that your HOA will approve this type of project and that there will not be zoning issues. You may also research neighborhoods for a new custom built home. How do HOA rules, building codes and other factors impact your ability to build the home you want in these potential areas?
Cost and Financing Options
After you examine these points carefully, you may be able to eliminate one option entirely. If not, focus on finances. Consulting with Alair Homes Houston can tell you more about the cost of a home remodel versus custom home building costs. Financing options for these types of projects may also vary, so you should reach out to a mortgage company to explore loan programs. While both projects may give you a similar end result, you may be surprised to learn that one option is much more affordable than the other one in some cases.
Both a home remodel and custom home construction may ultimately give you the dream home that you desire, but one option may be much more practical and affordable. The right choice is a very individual one, and we’re here to help you understand your option and make an informed choice. Reach out to Alair Homes Houston for more information and to schedule your complimentary consultation.