It is hard to narrow down the motivation and benefits of building your own home to just 3. There might be more than just three reason but here are what we think are the top reasons.
It is often called the American Dream. The idea of building your own home has been around long before America. The desire to build a safe place for you and your family to live is truly universal. This idea has been ingrained in the American psyche.
Usually the ability to build a home comes with the professional success that puts you in that position. Home ownership has become synonymous with a general level of success. And hey, who doesn’t want to be successful?
Building a Society
Even in today’s world of selfies and personal tech devices, we are none the less a social animal. Building a home is just a small part of building a community. There is strength in numbers and we have an ingrained desire to surround ourselves with like-minded people.
Building yourself a home adds to the social fabric of your community. It adds to the strength and safety of everyone. When we dream of our ideal home, it is seldom located in a desolate, un-inhabited area. Well, at least not most of the time.
We all want to have a home in a “nice” area, close to good schools, hospitals, shopping, and open, healthy areas to enjoy. Those things all depend on our ability and desire to socialize.
Now we are getting down to brass tacks, which is an interesting phrase in itself. It is not clear where that term comes from. A theory is that it comes from the brass tacks in the counter of a hardware store or draper’s shop used to measure cloth in precise units (rather than holding one end to the nose and stretching out the arm to approximately one yard). But I digress.
For anyone concerned with money, the idea of renting a place to live for 30 or more years seems like a waste of resources. Well, maybe not a waste but more of a lost opportunity. Ideally, you would like to get something in return for making 360 regular monthly payments.
The ability to reap a return on the investment of home ownership is probably the greatest motivator. It is a very long term investment, one that most of the time is a good debt to pay off.
You more than likely won’t become rich simply by building your own home. But you will be, overall, better off than if you just rented.
Not the Complete List
We didn’t include everything in this list of the 3 reasons to build your own home. Things like the benefit of starting out with all new appliances, paint, flooring, roofing, and heating systems. Home ownership, while having a lot of benefits (list above), also comes with a lot of things to worry about.
Building a new home removes a lot of the normal things to worry about. Knowing that just about every thing in the house, and the house itself, is under warranty brings great peace of mind.
When you buy an old (used) house, most of what you are getting is a mystery. You can get the house inspected but that is no guarantee, or warranty. Most of the time you start off ownership with a laundry list of things that need to be done.
In our humble opinion, if you are ready for home-ownership, building your own home is the best way to go. Everyone should do it at least once in their life, maybe twice.