Reply to Is it cheaper to tear down our existing house and rebuild, or buy a new construction?

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[quote=Anonymous]We went through the process of tearing down and rebuilding.

For the same quality, same design, same everything, it is typically more expensive to build your own than to buy a lived-in home that is say 5-10 years old and still new-ish.

The key to building your own isn't to save money, but to get exactly what you want, which is often quite important for people who buy higher priced homes.

I understand that some people build their own to save money, because there is a lack of homes in their price segment on the market, or that they'd like to trade off quality for more space at the same price. For example, people see a 6000-sqft above grade home for $1.8M and think to themselves that they can build a 6000-sqft new home near by for 1.6, or that they can get 7500-sqft out of a a 1.8M budget.

I have friends who have gone through the rebuild experience after seeing what we did. Some of their homes have creaky floorboards 2 years into it.

Note that I've also seen some really expensive but poorly built custom homes, so getting the right team together is definitely important.

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