It’s inspiring, the idea of living in a home that is custom built to your every need as well as your unique personality, providing all the comforts you’ve come to cherish in your everyday life. However, after that idea hits, if you have the resources, and your motivation really hits, then you’ll likely have a rush of questions about how to build your own house. At Murphy’s Custom Homes in Colorado Springs, we’re here to help you answer them.

Building a custom home is a process — one you may not want to even undergo — but first you need to answer a few basic questions. Owning a home is a huge investment, is it worth it to build something all your own or are you better off to buy a cookie-cutter home and hope to renovate later? It’s a valid question, but if you’re looking for your forever home, there’s really no competition.

Why Custom Homes Are A Better Investment

When buying or building a home, your finances will be a key aspect in your decision making, but when it comes to long-term planning, a bigger investment now can lead to lower costs in the future and, ultimately, getting what you want sooner rather than later. There’s a number of things you may want to consider before hiring a contractor, but many people don’t know where to start. Here’s a few questions you might be asking yourself.

Is it Cheaper To Build or Buy a House?

Unfortunately, there’s no clear answer here, but in areas with rising home values it can often be cheaper to build a house than buy it outright. Costs can be set and negotiated with your home building contractor. So, rather than dealing with the gamble of the housing market, you can pay for a house based on concrete costs and calculations. When you buy a million dollar home or invest in luxury real estate with a custom home builder, you’re paying for the costs of the materials and the labor put into the house. This should help put your mind at ease, so you won’t be speculating what everything’s really worth or if you’re paying more than you should. As long as you are given accurate pricing, you can go forward with confidence knowing that your home will likely only appreciate in value.

Shopping Around Before Choosing a Custom Home Builder

One of the opportunities you have to make the most of your investment when looking for a home builder is with the chance to shop around. You can truly educate yourself on the value of the features and materials your home is being built with, find the most appropriate loans and rates for you, and make sure that every aspect of your home is something that you’ll love and appreciate the value in.

Shopping around for the aspects of a custom built home is part of the fun, and a part of your home building experience that shouldn’t be rushed. Every part of the process, from the plot of land you buy to the faucets on your sink, this is your chance to make every part of your home fit. Every feature is like a puzzle piece in the design of your home; some will take forever to find, others will come instantly, but each will come with the feeling of something that fits just right and that you found all by yourself.

Shopping around not only ensures that you’ll have a unique home with features you love, it also helps ensure you’re not stuck in loans for years longer than you have to be, that the land you buy won’t end up costing you in the future, and that your home appreciates in value from a concrete price point. It’s a fun, easy, and necessary way to protect your investment.

Choosing Your Own Land to Build On

One of the greatest benefits of building your own home is placing it exactly where you want. This will seriously effect the cost of the home, in the present and in the future if you decide to sell. Some land is cheap, but arduous to develop. Some land is easy to develop but already overcrowded. Perhaps the main decision here is whether or not you’re building your forever home, and if so, whether or not the plot of land you’re going to be on matches that vision. Because it may also be the aspect that most effects your investment in the future.

If you want a home that’s in a secluded area, then somewhere described as having “rapidly increasing property values,” may not be the place for you. However, other aspects have to be considered as well, such as, “is this land suitable to live on?” Some land isn’t firm enough, some is too rocky for easy plumbing or underground work, and still others just don’t have all the resources yet available that you’d expect for a modern home. There could be high initial costs in making the land livable, but the land will be more valuable once you’ve done the groundwork, and you’ll have a home that’s just as secluded or just as much of an investment property as you want it to be.

Contact Murphy’s Custom Homes to Build Your Custom Home

If you’re moving to the Colorado Springs, Douglas County, or El Paso County areas, then Murphy’s Custom Homes wants to be the home builder for you. Contact us today to get started and we’ll help you make the most of your future home!