Here’s what you need to know about tearing down your old home.
Should you tear down your house and build on your lot or just buy another house? In our area, we have a lot of old homes on expensive plots of land. As a result, many people want to retain the value of their lots while building a new home. Today, I’m going over the pros and cons of this question so you can make an informed decision.
One thing to keep in mind is that if you plan on tearing down your house, you’ll need to find a new place to move to while you’re building your new home. Typically, this process will take six to 18 months, and it largely depends on finding a good builder. A year-long build can be pretty typical, so you’ll need to have money to rent a place while your construction is ongoing.
Finding a good builder is also crucial. You’ll likely want an experienced, semi-custom builder since they’ll have more knowledge on how to meet your exact needs. Smaller builders who tend to do similar homes likely won’t have the experience to do any custom construction you need.
"If you build a new home, hire an experienced, semi-custom builder."
If you go and buy another home, you might want to consider a spec build. This is a new-construction home where most of the decisions have already been made for you. However, you’ll still get a lot of say on things like paint color, flooring, and more.
At the end of the day, which option is better for you depends on your situation and where you want to live. We’ve helped people through this situation countless times, so don’t hesitate to call or email if you have any questions. We look forward to hearing from you!
