To Buy, Build, or Remodel—That is the Question

The one constant in life is change and that goes for our homes, too. From first-time home owners to empty nesters, a house is so much more than just four walls and a roof. It serves as our sanctuary, our playground, our office, and our escape. Any house is a financial investment, but also an emotional one. It’s a place to build memories and also create generational wealth for the future. But before you choose paint colors and furniture, there’s one question you must answer…

Is it time to buy, build, or remodel? 

Let Providence Building Group help you decide what’s right for you—now and in the future. We’re a family-owned, veteran-operated residential and commercial builder just north of Nashville in White House, Tennessee, with more than 65 years of expertise. So, whether you’re looking to improve your current home or move into your forever home, we’ll help make the process as stress-free as possible!

Things to consider

• Space: Do you need more or less space? Do you want to update your existing space or settle into a brand new one?
• Neighborhood: Are you happy in your current neighborhood or looking to move? Is there land available for purchase in areas you find attractive? Would remodeling make your home an outlier in your neighborhood or add to the surroundings?
• Custom features: Do you want something unique like a mother-in-law suite, pool, pickleball court, or other feature that isn’t currently available on the market?
• Timeframe: When do you want to be in your new home? Are you willing and able to wait a year or more for a new build or do you want to close on an existing house in a matter of months?
• Resale: What elements of your current home can you update to increase the overall value when you sell?

BUY

So you’re ready to take the plunge into home ownership. Or maybe that home you’ve always had your eye on just came on the market. Here are three key factors to help you decide if buying is right for you.

• Price—Be realistic about your budget. What can you afford for a down payment, mortgage, repairs, maintenance? Every existing home will need some TLC, no matter how well the previous owners maintained the property. Even a brand new home has its quirks you’ll want to address or lacks amenities you’ll need to add. 
• Location—After price, location is the most important deciding factor when buying a home. Are you looking to get away from the hustle and bustle of the city or create an urban oasis? Location impacts your commute to and from work and accessibility to markets, restaurants, arts and culture, and sports events. If you have or plan to have children, look into the schools in your area. Check out the crime stats and local government. Walk the neighborhood during the day and at night. Does it feel like home?
• Amenities—Whether it’s a yard for summer barbecues, energy efficient design for lower utility bills, or extra rooms for a home office or visiting guests, the amenities of any home give it character. This is what starts to make a house a home.   

The cost of buying an existing house and making alterations can add up. Or maybe the neighborhood is more appealing to you than the houses currently for sale. If that’s the case, it may be better in the long run to invest in land and build the home you want rather than settle for what’s available. 

BUILD

The decision to build your new home is a big step, but an exciting one. According to Forbes, the “average cost to build a house is around $300,000 for 2,000 square feet of living space.” And that doesn’t include the cost of land. Plus, the time it takes to build a new house can be anywhere up to a year or more. While the process—and price tag—can be intimidating, the return on investment will last decades, maybe even generations!

Whether you already have your dream home planned out or are looking for design ideas, you want a construction partner who can provide the resources and expertise to fulfill your vision and make your dream home a reality.

From tiny homes to more traditional houses, Providence Building Group’s home building process includes four primary phases:

• Exploratory
• Pre-Construction
• Construction
• Living

Both buying and building can be expensive and time consuming. Remodeling parts of your home is a less expensive option—and you don’t have to worry about the stress of packing or the cost of moving!

REMODEL

Is it time to upgrade your kitchen? Need more closet space? Looking to transform the garage into a home office or art studio? Every house can use a makeover from time to time and a remodel can give you that ‘new home’ feeling even in a space you’ve lived in for years.

Remodeling will also increase the value of your home for when you do decide to sell. Remodeling bathrooms or kitchens, adding a porch or patio, or enhancing the yard and landscaping are all ways to increase the value of your home. Even less noticeable things like new doors and windows or energy efficient lighting improve the resale value and have the benefit of reducing your utility bills!  

Before you undertake a remodel, make sure to consult a contractor. DIY can be fun and certainly a way to go for things like new paint to brighten up the living room or adding a decorative backsplash in the kitchen. But when it comes to larger renovations like knocking down a wall, putting in a pool, or adding a bedroom, you want an expert by your side to help with any necessary permitting, troubleshooting, and design know-how. Plus, their experience means they’ll be able to finish the job faster, which means you’ll get to enjoy your new amenities that much sooner! 

Get in touch today and let us help turn your dreams into reality!