Commonly Overlooked Costs in Existing Homes
Did you forget about these big-ticket items?
If you’ve mentioned an interest in building a custom home to friends or family, it’s more than likely that you’ve received some skepticism in response—and one of the main causes for concern is the perceived cost of a custom build. While there’s no limit on how much you can spend, custom-built homes can be a lot more affordable than you might think. If you work with reputable builders and project managers like Atmos, you’re likely to save money compared to what you would spend on buying an existing house with the features you want—in part because buying an existing home comes with all sorts of overlooked costs. Here are a few.
Replacing appliances
Buying an existing home means buying its existing appliances—and while that can seem convenient, it can turn out to be a money pit. Kitchen appliances, from dishwashers to garbage disposals to ranges and fridges, tend to last between 6 years at the low end and 15 at the high end (ranges last the longest). Heating and cooling systems, including furnaces, water heaters, and air conditioning units, fall in the 15-25 year range. If you buy a house near the end of an appliance’s lifespan and are suddenly stuck replacing it, you’ve effectively raised the purchase price of the home. When you build a new home, not only can you pick out the exact appliances you like, you’ll also be assured that they have a long life ahead of them (and a warranty).
Major maintenance
In the scheme of things, an appliance repair might not seem like a big deal. But existing homes can come with far more expensive costs. Roofs, for example, need to be replaced about every 30 years, and the cost can quickly run into the tens of thousands. An issue with termites or other pests that cause damage to the foundation could crop up and require an investment in exterminators plus repairs. Or what if the basement is prone to flooding and water damage? And if you are unlucky enough to uncover asbestos or lead paint, you’ll have a costly mitigation process on your hands. While some of these problems can be uncovered during a home inspection, older houses tend to be unpredictable, while if you worked through the building process with your contractor you should have a good sense that the home is sturdy and safe.
Inefficient Design
Given both environmental consciousness and the high cost of energy, today’s new homes are more sustainably-built than ever—and that can lead to serious cost savings. Homes that aren’t well insulated, are oriented inefficiently for natural heating, or have excess space will increase bills, as will older appliances that suck up energy. If you build your own home with Atmos, you can be sure that we’ve discussed all the options for reducing energy use and that the home will be built to the most modern guidelines.
Repainting and Redecorating
Have you ever moved into an apartment or house that immediately matched your taste? We haven’t either. Whether it’s a garish color in the kitchen or dated wallpaper in a bathroom, it’s likely you’ll want to make some cosmetic changes. But even the smallest updates do add up, so bypassing them by buying a new home can save here, too.
Buying any kind of home comes with a series of expenses—from closing costs to the inevitable maintenance. But buying an existing home that has been subject to wear and tear and the preferences of the previous buyers brings a whole other set of potential wallet-busters. When you build a home with Atmos, you’ll not only know that everything is right out of the box and squeaky clean.
With a transparent pricing model, what you see is what you get—no surprises. And with our unique digital platform, you’ll have an unprecedented level of freedom to build your way, rather than settling for a home that only fits half your criteria. And best of all, with Atmos, your project will be handled by a team of experts, leaving you to focus on the choices that matter most.
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