When deciding whether to build or buy a home in the Greater Toronto Area, there’s an overwhelming amount of factors to take into consideration. Some people consider one without stopping to consider the possibility of the other or the benefits that it could bring them. With our expertise as developers, we have compiled some factors to consider in your decision-making for your convenience that may help you decide whether home building or home buying is the best avenue for you to find your dream luxury home. Please note that this list is not exhaustive and does not cover the difference in cost for building or buying. We strongly suggest you have a one-on-one conversation with our developers or real estate agents of choice for financial matters.
Buying a Home
Buying a home can have its perks with giving aspiring home-buyers a more efficient timeline to move in that provides a stress-free alternate to buying a home. If you are on the hunt for a home and need to move in quickly, the choice to buy a house will get you moved in far faster than building one from the ground up would. You can likely secure a home with your preferred number of bedrooms, bathrooms and more at a rather decent location. Unfortunately, the housing market cannot guarantee that you will get the home of your dreams – while general needs are usually met, you do not get to build the home of your dreams from scratch and may need to compromise on layout, materials utilised throughout, the size and the decoration. Buying a home can also sometimes come with lower building standards due to some developers aiming for keeping the costs low while building a home, and as such, you cannot ensure a long-term stable foundation.
Building a Home
With building a home, you can see your own dream home come to life right before your eyes with every detail up to your taste and have a brand new home crafted specifically for you to enjoy. You are involved in each part of the process of building your home, and as such, you can make sure that high quality standards are sustained. You also get to personally choose the layout, size, flooring and everything else you can think of. Additionally, while the real estate market is booming in 2021 and the prices are not predicted to fall post-pandemic, there is no better time than now to think about buying a plot of land to build your legacy upon. Building a home may seem intimidating to some due to the sheer number of to-dos for it and the longer timeline associated with it, which is why having a developer that will work with you to ease the process is the key to success.
Regardless of whether you decide buying or building a home is the right step for you, ensure that you have the best team around you to guide you towards crafting a home that is best suited for you. Our team at LivMor Developments takes pride on ensuring each and every one of our clients ends up with their dream home and enjoys as hassle-free a building process as possible. Make sure to contact us if you are interested in building or renovating your home!