Building vs. Buying an already Constructed Property

[Joel S.]

I have been looking with my agent for a property in Houston for several months and continue to beat out my cash buyers. My agent said that he going to talk to a local builder to see if they can build something in my price range and said he would get back to me tonight. What are the pros and cons of building a new house vs. buying an already constructed house? Any advice would be much appreciated!

[John Moore]

As a builder my opinion is somewhat slanted, but here goes; you select the floor plan, colors and features that you have on you're wish list; the house has a warranty and you are usually selecting the homesite you wish the home to be constructed on; in a sub-division you still have a selection. The trick is to bring the house in within the budget you have to work with. You should determine how long it takes the builder to complete from the time you have you're mortgage commitment to move in. Find out what are standard features and what are up-grades. Now you have the opportunity to compare.