Isn it cheaper to buy a newly built home in a development than to buy, renovate, or build a custom home?
Homes built in developments generally appear cheaper because they are built in volume. Some factors are not readily obvious but may become known with time, and often are a matter of lifestyle. For example, the location of a new development from place of work or entertainment, requiring a need for higher transportation costs. Many new developments are carefully assembled for the proportions of building to site area, and although the area of a home may appear the same for less, the size of the property and proximity to neighbours may not be much greater. Building a custom home to one’s own needs is more expensive per square foot (possibly 15 – 30%) but it ensures that a client’s specific needs are met and can save money by avoiding the inclusion of some standard amenities not necessarily required by the individual.
