Remodel or Build New

One of my relatives sent this blog post to me.  It has an interesting take on the idea of building new vs remodeling.  Although I would like to focus on building new in my business, but will also do major remodels also.  In the early to mid 2000s people were building like there was no tomorrow. My coworkers and I wondered where are these people coming from that are building all these $200,000+ homes there was no way any of us could afford it and we were all making above the national average in salary.  Obviously it was coming from lenders giving money out like free tacos at Taco Bell!

I've always loved walking into an older home that has been remodeled but hasn't lost it's character.  Too many times I think first time homebuyers fall into the trap of buying a cheaply and hastily built cookie cutter that probably will be showing it's sign of age before they can turn around and try to sell it for the same amount of money that the same said homebuilder is selling a new home for to the next prospective first time homebuyer!

  *I* truly believe that with just about any amount of money over $50,000 I could build you a quality UNIQUE "home".  Is it going to be a mansion like Mr. and Mrs. Jones down the road definitely not!  You can save your hard earned money and a few years down the road add on again and again and again.  So come middle age you would  have your "mansion" yet wouldn't be drowning in debt!  Now there are people out there that could come out and pay for it all in cash too, all the more power to you, I have nothing against that either, I'll help you build your house too!  Since nobody ever really told me how when or why about buildng/buying a house, we just all have this misconception that we have to buy the "mansion" to start with, and we don't.

I think that quite a few people have learned a painful lesson the last 2-3 years, no amount of credit is going to be enough in this world if we start living off credit. You have to control what you do have, and YOU can control on how you build/buy/remodel your next house!  *I* will not be shoving a cookie cutter house down your throat saying this is the only option you have at this price, although your options may be limited!