Why Would I Want To
My Own Home?
Everyone has their own personal reason why they choose to build their own home. Whether it is a vision to create something that is all your own, or an economic decision — UBuildIt will be by your side. Rest assured, being an owner-builder has it's advantages— instant equity, control, satisfaction, and upgrades.
Builder markup on a new home ranges from about 18% to 30%. Simple math shows that even at just 20% markup, you'll be paying the builder $50,000 on a $250,000 home... that's as much as $100,000 on a $500,000 home! By building yourself, you get to keep the majority of that money in your pocket, or add more upgrades to your home.
The appraisal on your home is based on market value for homes in your area. And since the vast majority of homes are built by builders, not individuals, they all have the builder markup figured into their worth. That's good news for you because the appraiser doesn't know — and doesn't care — that you did it yourself. Presto! The home will appraise just as if you'd paid the builder markup, which means you'll find yourself instantly in an equity position!*
What you do with that equity is completely up to you. Some people upgrade their new home's furnishings. Some people choose to just sit on it and let it grow and enjoy the feeling of knowing they've just added to their net worth. Regardless, the savings that comes from building your own home is clearly one of the major benefits of taking the project on yourself.
* Naturally, every situation is unique, and there are many variables involved. Not every home will have instant equity, and we make no guarantees to that end. But the majority of projects we work on cost less than they are appraised for, resulting in instant equity.