Save Money and Get What You Want
While there are many reasons to build a custom home compared to buying a preexisting home, the two principle reasons are:
- Substantial cost savings
- And getting exactly what you want.
When you are looking to buy a very expensive home ($1,000,000 or greater), the transactional costs of buying a preexisting home are very high. Land transfer tax, real estate fees and HST can amount to sizable figures. If you buy a lot, you only pay transactional costs on the lot value, not the finished home. If you tear down an existing house and build on the same lot, you also save on these transactional costs.
In addition to the cost savings, a custom home allows you to get exactly what you want… a home that meets your needs from esthetic, functional and lifestyle points of view. The home can be designed to accommodate your present needs and have considerations for future uses when your life situation might change.