According to multiple types of research done by associations of realtors across the globe, a large percentage of people choose to buy an existing house rather than building a home on their land. But it is not necessary to follow this trend, because homes built on your land can give you various benefits along with a huge return on investment in the future. For example, if you choose an existing home that costs around $295000, you will need to spend a few dollars more to build a home on your land. But in future, you will get double value for the home built on your land rather than an apartment or existing home. Let’s have a detailed look at this option.
What Are The Benefits Of Building A Home On Your Land?
Homes built on your land can give you various benefits and you can customize your home according to your preferences. In this way, you can reduce your maintenance cost, because you can use quality materials for your home that will give you more durability and long-lasting features. Homes built on your land do not mean that you need to buy an individual land and then build a home on it. In this case, you can find some production builders who develop a whole community within a restricted area and they can offer different types of plots or land. You can choose a plot according to your preferences and then they will build your home on your plot. Production builders will customize your homes according to the floor plans and you can add more features in your home plan if needed. In this regard, you do not need to get your floor plan sanctioned from a local municipality. It would be the responsibility of the custom builder to get your architectural layout approved from the municipality. You just need to choose the designs for homes built on your land and pay the amount. They will complete your project within the deadline and handover your home within a stipulated timeframe. Here are a few other benefits of building a home on your land:
Warranty:
Homes built on your land can give you a limited warranty. Homebuilders provide a limited warranty on their homes and you can also extend your warranty period by paying a few extra annual maintenance charges. So, you do not need to pay any recurrent monthly maintenance cost to any association to maintain your home, as the builders will maintain your home and land on a regular basis.
Utility warranty:
Few home builders provide warranty on their components such as windows, heating or HVAC system, plumbing, and electrical systems too. Plus, they have some add-on facilities on their warranty list and you can choose the services as per your needs. So, you do not need to pay any extra cost for maintaining your HVAC system and other accessories. Even some of them can also provide landscaping services and they can maintain your landscape at a nominal cost.
Amenities:
Homebuilders include all necessary amenities like school, shopping center, health care center, medicine shop, swimming pool, gym, playground, separate ground for kids and Wi-Fi connectivity in their community projects. Homes built on your land will come with a complete package and you can pay all these facilities by paying a few charges. Still, it is suggested to choose homes or plots on prime locations, because you will get greater resale value for your homes situated at such places.
Nowadays, home builders are designing LEED-certified homes. In the long run, such homes can save your power consumption cost and you can find some modern and energy-efficient materials in your building. Even rainwater reservoir, eco-friendly materials and solar systems used by the modern home builders can make your home green.
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