Should I Build, Buy, or Renovate in Atlanta?

Building a Custom Home in Atlanta

Building a custom home in the Atlanta area means you get to create a living space that perfectly suits your needs and style. It's an exciting process that allows you to make every decision, from the floor plan to every fixture. Custom homes offer unparalleled personalization, but they also come with their own set of challenges.

Pros of Building a Home in Atlanta

Highly Customizable

When you build a custom home, every detail is up to you. From the layout and color scheme to every tile and hardware choice, you have complete control. This level of customization ensures that your home reflects your personal taste and lifestyle. You can design spaces specifically tailored to your needs, such as a gourmet kitchen, home office, or an expansive outdoor living retreat.

Ensures Quality Construction

Building a custom home allows you to work with top home builders in Atlanta, ensuring that your house is constructed to the highest standards. You can oversee the project and ensure that only the best materials and techniques are used. This direct involvement helps you avoid shortcuts and guarantees a higher quality of construction, resulting in a durable and long-lasting home.

Choose Your Location

One of the biggest advantages of building a custom home is the ability to choose your ideal location. Whether you want to be close to the city or in a more suburban area, you can find the perfect spot to build your dream home. This flexibility allows you to select a neighborhood that delivers the lifestyle you envision, whether you prefer a bustling urban environment or a tranquil suburban setting.

Cons of Building a Home in Atlanta

Expenses and Time

Building a custom home can be more expensive than buying an existing home. Finding and buying land, along with the costs of construction, can add up. Additionally, building a home takes time, often several months to over a year, depending on the complexity of the project. This extended timeline can be challenging for those who need to move quickly or are not prepared for the long-term commitment.

However, all this hard work on your end will result in a home that's a perfect fit from day one rather than having to remodel a home that you buy on the market.

Finding and Buying Land

Securing the right piece of land in a desirable location requires research and time. In Atlanta, prime real estate can be competitive, especially in areas where you'll have easy access to amenities. Finding a suitable lot that fits your budget and meets your needs will take some time and effort. To make it a little easier on yourself, we suggest finding a realtor who will listen to your design goals and work to understand the lifestyle you're after. 

Longer Timeline

Building a custom home from scratch takes significantly longer than buying an existing home or a spec home. If you’re in a hurry to move, this might not be the best option; but if you want a perfect fit and aren't in a rush, a custom home could be a great option. Keep in mind that the extended construction timeline requires patience and careful planning, as delays can occur due to weather, material availability, or other unforeseen circumstances.

Cost of Building a House in Atlanta per Square Foot

The cost of building a custom home in Atlanta can vary widely depending on the materials, design, and location. On average, you can expect a custom home in the Atlanta area to cost between $200 to $700 per square foot. High-end luxury homes in prime locations will land on the higher end of this range or even beyond. These costs include permits, labor, materials, and any special features you want to incorporate into your home.

Is Building a House in Atlanta a Good Investment?

Building a house in Atlanta can be a great investment, especially if you plan to stick around for many years. Custom homes often appreciate in value, and you can build equity over time.

Additionally, a well-constructed home with quality materials will require less maintenance and fewer repairs in the long run. This makes it a sound financial decision, providing both a beautiful living space and a valuable asset.

Buying a Spec Home in Atlanta

Buying a spec home, or a speculative house, is a great option if you’re looking for a new home without the wait of building from scratch. These homes are built by spec home builders to provide the convenience of a new build with the speed of a ready-to-move-in home.

Pros of Buying a Spec Home in Atlanta

Ideal Community Lifestyle

Spec homes are often located in new home communities with modern amenities, planned and beautiful landscaping, and a tight neighborhood feel. These communities are designed to provide a cozy living environment with features such as parks, walking trails, community centers, or even spas and clubhouses. This makes them ideal for families and anyone looking for a community-oriented lifestyle.

No Previous Owners

One major advantage is that you’re the first owner, meaning no wear and tear from previous families, hidden DIY projects, or super outdated styles. Everything is brand new and under warranty. This can provide peace of mind and reduce the likelihood of unexpected repairs or maintenance issues before you even unpack your boxes.

Location, Location, Location

Spec homes are typically built in desirable areas, offering you and your family easy access to everything you need. These homes are often situated in areas with good schools, convenient access to shopping and restaurants, and other amenities for a rich quality of life. 

Quicker Move-In Time

If you need to move quickly, a spec home is ready for immediate move-in once construction is all said and done, which is much faster than building a custom home. This can be a significant advantage if you're in need of a move for work or other changes that require a quick relocation. 

Cons of Buying a Spec Home in Atlanta

No Customizations

The biggest downside to buying a spec home is the lack of customization. You’ll have to accept the builder’s design choices and layout. This can be a drawback if the home doesn't fully meet your needs or if you have specific preferences for finishes and fixtures.

So, if you're interested in a spec home, check out different spec home builders in Atlanta to find one that fits your tastes and build homes that have the types of rooms you're looking for, like a home office or a finished basement. 

Cost of Buying a Spec Home in Atlanta per Square Foot

The cost of buying a spec home in Atlanta can fall between $250 to $500 per square foot and beyond. Prices vary based on the location, builder, and specific community. To enjoy the perks and lifestyle that an exclusive community can offer, expect your spec home to be on the higher end of that range. 

Is Buying a Spec Home in Atlanta a Good Investment?

Buying a spec home can be a solid investment, especially if it's located in a new-build community that will give you the lifestyle you'd like for you and your family. These homes are built to modern standards, which means lower maintenance costs and improved energy efficiency. 

Building a Semi-Custom Home in Atlanta

Building a semi-custom home offers a balance between full customization and buying a spec home. These homes typically allow for some personalization but within a set framework. Semi-custom homes can be a great option for those who want a personalized touch without the extensive commitment of a fully custom build, which can expedite the building process. 

Pros of Building a Semi-Custom Home in Atlanta

Some Customizability

While not as flexible as a fully custom home, semi-custom homes allow for some custom selections. You'll choose finishes and fixtures and sometimes even modify the floor plan slightly. Semi-custom homes offer a sense of ownership in the design process without the overwhelming choices involved in a fully custom home.

New Build Communities

Semi-custom homes are often built in new communities with modern amenities, planned layouts, and a cohesive style. This can be a huge plus if you’re looking for a ready-made neighborhood vibe. These communities often include amenities such as parks, pools, and clubhouses, enhancing the overall living experience and providing a strong sense of community.

Cons of Building a Semi-Custom Home in Atlanta

Not Fully Customizable

This has been covered above, but it's worth mentioning again. You’ll have some limitations on how much you can personalize your home. Major changes to the layout or structure are typically not an option. So if you're looking into plans and the changes you'd make to a design start adding up, a semi-custom home isn't for you. This can be the case if you have very specific needs or preferences that can't be accommodated.

Cost of Building a Semi-Custom Home in Atlanta per Square Foot

The cost of building a semi-custom home in Atlanta is generally lower than that of a fully custom home, ranging from $150 to $400 per square foot. However, costs can vary depending on the community and builder. These homes offer a middle ground, providing some customization options at a more affordable price point than fully custom homes.

Is Building a Semi-Custom Home in Atlanta a Good Investment?

Building a semi-custom home can be a good investment, particularly in popular new-build communities. These homes often appreciate in value, and they benefit from modern construction standards and energy efficiency. They offer a good balance of personalization and value, making them an attractive option for many buyers.

Buying an Existing Home in Atlanta

Buying an existing home is a popular choice for many homebuyers in Atlanta. It offers the charm and character of established neighborhoods and can often be more economical than building new. You'll find a variety of architectural styles, including older styles that new home builders might not provide. 

Pros of Buying a Home in Atlanta

Charm and History

Existing homes often come with unique architectural details and finishes that new homes might lack. This charm can add character and a sense of warmth. Older homes often feature distinctive design elements such as hardwood floors, crown molding, and built-in cabinetry that can be difficult to find in new construction.

More Economical

Generally, existing homes can be more affordable than building new ones, especially when considering land and construction costs. This can be a significant advantage for buyers on a budget or those looking to get more house for their money. Additionally, existing homes are often located in established neighborhoods with mature landscaping and amenities.

Faster

Like spec homes, the process of buying an existing home is faster than building a new home. Once you find the right home, the closing process can be completed in a matter of weeks, allowing you to move in and start enjoying your new space without a lengthy wait.

Cons of Buying a Home in Atlanta

Fewer Options Available

Let's face it, you’re limited to what’s available on the market, which may not perfectly match your needs or preferences. This can make it challenging to find a home that checks all your boxes, especially if you have specific requirements for layout, size, or features. You're also limited to where homes are available. If your ideal neighborhood only has a few homes on the market, you'll have to settle for what's for sale or compromise on the area. 

Not Built to Your Needs

Existing homes are built to someone else’s specifications, which might not suit your lifestyle. You may need to make compromises on certain aspects of the home, such as the number of bedrooms, the layout, the finishes, and more. This can be a drawback if you have particular needs or preferences that aren't met by the available homes.

Likely Need Remodeling

Older homes might require significant remodeling to meet your standards, which can add to the cost and time. This can include updating outdated kitchens and bathrooms, replacing old windows and doors, or making structural changes to improve the layout. That lower price tag can be misleading when you start to add up all the changes you'll want to make to create a space that's a good fit for your family.

Older Homes Present Unknowns

Construction issues, overdue maintenance, hidden DIY blunders, and energy-sucking features often come with older homes. Problems like these might not be immediately apparent, leading to unexpected costs down the line. Once you consider problems with the foundation, electrical systems, plumbing, or roofing, the costs add up in a big way. 

Cost of Buying a House in Atlanta per Square Foot

The cost of buying an existing home in Atlanta varies widely but generally ranges from $100 to $200 per square foot, depending on the location, age, and condition of the home. This cost can be influenced by factors such as the neighborhood, the size of the lot, and the home's age.

Is Buying an Existing Home in Atlanta a Good Investment?

Well, it depends. In an established neighborhood that's close to good schools, grocery stores, parks, and more can be a good investment, even if you have to put some work into it. If you're willing to make updates to bring your home into modern times, it could increase the value by quite a lot. The charm an older home offers can make updates more than worth it, as long as you hire a remodeler with experience in blending additions and updates with older features to retain that charm you love. 

Remodeling Your Atlanta Home

If you love your current home and neighborhood but need more space or updates, remodeling might be the best option. Remodeling allows you to update your living space without the hassle of moving, and it can be a cost-effective way to improve your home, add value, and create the spaces you need.

Pros of Remodeling Your Home

Stay in Your Neighborhood

You get to stay in the neighborhood you love and avoid the hassle of moving. This can be a significant advantage if you have established roots in your community, with friends, schools, and amenities that you enjoy. Staying in your current neighborhood also means you won't have to adjust to a new location, possibly lengthening your commute or changing school districts.

Build Equity in Your Home

Remodeling can increase your home’s value, allowing you to build more equity. By making updates and improvements, you can enhance the functionality and design of your home. This can provide a good return on investment if you decide to sell your home down the line.

Stay in the Home You Love 

Sometimes, you’re simply attached to your home and can't imagine leaving it behind. Remodeling allows you to improve without moving. If your home holds sentimental value or if you have specific features that you love and don’t want to give them up, a remodel will be your best bet.

Cons of Remodeling Your Home

Limited by the Existing Structure (Sort of)

There’s only so much you can do to change an existing structure without incurring major costs. Significant changes to the layout or structure of the home can be complex and expensive. Adding a second story, expanding your kitchen, or adding a primary suite to your older home could be pricey, but you'll reap the benefits of increased value and staying put. 

Cost of Remodeling Your Home per Square Foot

The cost of remodeling a home in Atlanta can vary so significantly, giving an average per square foot isn't realistic. To find out what your remodel or addition could cost, get in touch with a knowledgeable home remodeler. 

Is Remodeling Your Home in Atlanta a Good Investment?

Remodeling can be a great investment, especially if it allows you to stay in a location you love while upgrading your living space. It can also add significant value to your home, making it a smart financial decision. By carefully planning and prioritizing your remodeling projects, you can improve your home's functionality and appeal, making it a better fit for your family.

Still Need More Info to Make the Best decision for YOu?

Whether you decide to build, buy, or renovate in Atlanta, each option offers unique benefits and challenges. 

If you need expert guidance on building a home in Atlanta, remodeling your current home, or finding the perfect home for you and your family, Elevation Building Company can help you navigate the process. Our experience in each of these types of homes and projects in Alpharetta, Roswell, and beyond means you'll have a great resource for helping you make the best decision for your family. Contact us today for a consultation and let’s talk about all of your options!