Now is the time to invest in owning a home.
There are many things to consider but the biggest, aside from the actual purchase, is building vs buying a home.
The Tampa housing market continues moving up, yet remains very affordable compared with other parts if the country. Now is a great time to invest.
So, do you build or buy?
Investment or Family Home?
When considering building vs buying a home, decide if it will be an investment opportunity or a family home. (Hint: it can be both!)
For an investment home for producing income, you may be better off buying and remodeling an existing home, then renting or flipping it.
Building a home is a long-term investment. It also has the potential to make you much more money in that long-term. So when building vs buying a home as an investment, consider the timing and your commitment level. Either way, you will need a good Tampa Bay home builder and remodeling contractor.
Best Investment for Tampa and Surrounds
Consider how much you have to spend and then explore what you can get for that money. In Tampa Bay, there are usually plenty of homes on the market, with a significant percentage of those needing a lot of work. That’s where a great remodeling company is your best friend.
Some people aren’t enthused about remodeling – or just the search for a home – and thus decide to build a home instead of buying. Considering Tampa’s climate and location by the beach, economically it just makes more sense for the long run. Property values are definitely on the rise. There are prime lots available in all neighborhoods, with waterfront naturally remaining the most sought after. Seriously, there are vacant lots of all sizes and for all budgets. The climate and location of Hillsborough and Pinellas Counties will always be desired. Summer is consistent without getting scorching and winters are warm and generally dry. It’s a great family area that doesn’t have the urban hustle of other parts of Florida, but has the beach and relaxed lifestyle on its doorstep.
Get What You Want and Need
You and your family want to be comfortable in your new home. The question of building vs a buying a home is really about your wants and needs. Do you want a home planned and lived in by other people? Or do you one that is yours from start to finish?
There is a lot to be said about being able to move in to your new home quickly. If this is a concern, then building vs buying a home in Tampa Bay is already decided. Buying means moving in fairly soon after the sale is complete. Building from the ground up involves some more waiting. Of course, if you build, when it’s finished you can move in and be happy right away.
The Right Contractor is Everything
Whether building or buying your home, if you have a tried and true construction and remodeling company in your corner, you have nothing to worry about. They’ll advise about inspections and then handle permits, plans, trades, supplies and much more. Being prepared means discovering fewer problems and costs later in foundations, fixtures, plumbing, sewers, etc.
When in doubt, ask more than just your Realtor. Ask construction experts about the best investments and tips in Tampa.
Greg Nelson is the owner of Nelson Construction & Renovations Inc. He is a Florida State Certified Building Contractor, creating artistry in all areas of design and construction projects. He is a musician, and artist. A husband and father, Greg appreciates all the wonderful elements of family life.
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