The ‘condo or house’ question is one that often comes into play when looking into investing in a property. There are several factors to consider when looking at homes and condos to live in.
On one hand, a condo hotel sounds like a great way to relax at home and still have the full services that you can expect in a hotel. On the other hand, a custom home construction allows you the freedom to have everything to your specifications.
The question that this article will answer is what exactly are the benefits of having your home custom built as opposed to a luxury hotel condo? Here is a compilation of six reasons to custom build your home today.
Specify your floor plan and finishes
There is nothing as frustrating as walking into a potential property only to find that you have to trade off some aspects you were wanting for others. Building your own home allows you the freedom to choose your floor plan and all the finishes that you need. There is no need for you to trade off important aspects because you will have each little factor considered right from the start.
Hotel condos typically have luxury high end finishes but you may have to contend with the tiny kitchen. There are several aspects to a condo unit that cannot be altered because the architect that designed it was going for maximum mass acceptance.
This is one major factor that makes custom constructions much more ideal for aspiring home owners.
No restricting rules
All hotel condos come with specific rules. For instance, there may be a maximum number of allowed pets or a no noise policy. Whatever the rules are, their role is to protect the rest of the people that occupy the units in your building.
While rules are not bad, it can be a little restricting for everyone to have to comply. Maybe you want to keep all five of your German shepherds in your unit. This will not be possible if the rules only allow one pet. You may be kicked out because of the extra pets that you cannot leave to sleep on the streets.
Having a custom built home will allow you the freedom to make the rules in your property. You are free to do as you please without having someone question your choices. If you want to keep all your cats, dogs and chickens in one place, a hotel condo is less than ideal for you.
No condo fees
You may be thinking that the hotel condo will possibly cost less than a whole new construction will. Truth is, if you consider all the fees and extra monthly costs that you will incur living in a hotel condo, you are very likely to hit the same margins.
A new home construction will only cost you when in the process of constructing your house. Condos have HOA fees and hotel condos have extra service fees that must be covered each month as long as you own a unit.
I cannot fail to mention the fact that these fees are almost always going up. A custom home will need maintenance
over time but those costs will often be half if not less than that of condo maintenance and association fees.
This is another huge aspect that you must consider when weighing between condos and free standing houses. A hotel condo will always have people around. From the shared walls, to the shared amenities and an influx of guests, you should expect very little privacy.
A custom construction may not have the fancy tennis courts and Olympic sized pools but you will have the entire property to yourself. Obviously if your budget allows you can make your home as fancy and overstated as you wish.
A custom built house is beneficial in that you have the power to improve the property privacy by adding hedges, a fence or even keeping a ferocious dog. It won’t matter because you have full power over the entire property.
Space is something a lot of homeowners have to give up when living in a condo. When building condos, the property owners have to maximize on the space that they have. Investors will look at the best ways to consolidate small spaces to meet as many homeowner’s needs as possible.
That means that you may find a sizable living area but a small master bath and closet. A custom built home will have exactly what you need for your unique needs. You have all the creative freedom to add quirky details and original architectural aspects when building from scratch.
Forget those Roman pillars and Victorian windows you have been dreaming about when moving into a hotel condo. All the space in a condo has to be used in a good way to avoid wastage.
A private yard is a distant dream in a condo. That is another factor that you have to contend with in condo living that custom housing comfortably provides.
Easier to sell if you want to move
This factor is a relative one. The selling aspect in properties depends entirely on the buyer’s needs. The reason a lot of condos are not very easy to sell is first, the cost of a unit depends on the average cost in the property itself.
Your unit may have extra features but the other sellers on the same building are selling for a low cost. You will have to revise the unit cost to meet the average cost and then now add the extra features cost on top of that.
In addition to that, some hotel condos may have restrictions in the financing methods. This can make some buyers opt out because the process of changing ownership is already complex enough.
Ultimately, there are many factors that you may have to think about when looking into buying your home. The final expectations will always vary depending on what you as a buyer expect and require from your purchase. A custom built home will offer many benefits because of the creative freedom that you will have. There are many benefits to a hotel condo as well but the choice should entirely depend on your needs. Those are six reasons a custom home construction might be better for you.