suburban aerial shot of real estate homes custome home build design build firm

Here’s Why Millennials Should Build Their Homes Instead of Buy

Millennial homeownership. It’s not news to anyone that Millennials aren’t buying homes in the same way that the previous generation did.

You might be thinking… Fact or fiction?

Turns out there might be some truth to this. But it doesn’t mean they don’t still have dreams of “millennial homeownership”.

In fact, in Canada, Millennial homeownership rates are consistently higher compared to other countries.

Naturally, Toronto and Vancouver markets have some of the highest ownership rates, among other cities like Calgary which surprisingly has the highest percentage of homeowners under 35.

The report goes on to indicate, that Millennials ultimately need more housing options. So it’s not so much about not having a desire for millennial homeownership. But rather, more so to do with college debt and rising home prices, and the 2008 recession that has left many Millennials choosing to live at home longer instead.

While that’s enabling them to save up longer to make a down payment on a home, it’s still increasingly getting more difficult to get into the real estate market today.

Urban city dwellings make renting look more attractive because that way their lives can remain “Instagram-nomadic”. While there’s a strategy to this, it’s important to consider both sides of the coin.

On the one hand, renting allows you to be more adaptive to changing jobs and cities frequently.

On the other hand, you’re missing out on a lucrative opportunity to establish equity in a home and plan for a future.

There’s no denying that getting into today’s real estate market is difficult. Which is why in so many ways, building a home is the best option for Millennials.

Here’s why.

The cost of entry is generally much lower

New homes are generally more spacious, with a medium size of about 2,500 square feet.

Which means the ballpark cost per square foot is around $100 give or take. This is significantly lower cost per square foot than what you would pay in square footage for an established, existing home.

Additionally, if you’re building a home you only pay for what you want.

If you end up choosing to buy resale, you inherit a number of existing features that you pay a premium for. Even if you don’t want them!

You can custom-tailor every detail to your liking

This is probably one of the most attractive reasons to build a home for Millennials.

Who wants to live with someone else’s structural problems or taste in décor?

For the same amount of money (or less) you can build a home that’s completely custom to your own style and preferences.

More than that, you can include any special requests that are specifically tailored to your lifestyle.

While renovating an older, resale home is possible, you can’t make changes to the floorplan too significantly. Oftentimes, general contractors will come up against structural barriers and other issues that restrict your creative design wants.

More than that, while the renovation process is the right choice for many. In some cases (especially ones that require extensive maintenance) it can indicate other damages that have been done under the surface in an older home.

The fact of the matter is, while it’s always possible to renovate an older home, you just can’t get full customization like you can when you build from the ground up.

For Millennials, building a new home means that you can also leverage the latest in industry trends and SMART home technology. [link to internal post]

By ensuring that your home is built with the latest materials, Millennials can benefit from more durable and energy-efficient options that save them money and positively impact the environment.

Maintenance is less expensive

It’s pretty much a no-brainer, older homes have more wear and tear.

Which means certain elements of the property may need more maintenance.

Even worse, you may purchase a new home that has a laundry list of features that need to be replaced or are on their last legs. That sounds expensive.

If you build your home, there’s considerably less upkeep — which is one of the primary benefits to new construction.

Everything in your custom home is new and under warranty. Sometimes, your entire home can be protected for up to 10 years before you have to pay out of pocket. Win-win.

Financial programs are available to new home buyers

At the end of the day, there’s no wonder Millennials aren’t wanting to buy homes. You’ll need to consider having enough savings for a down payment, ensuring that your credit score is in good standing and that your job qualifies you to apply for a mortgage securely.

With many Millennials are harboring large student debt loans, there’s no wonder that buying a home and making a large financial investment feels overwhelming.

The truth is, it is possible for you to get into the real estate market.

Connect with a well-informed mortgage agent who can fully explain the entire buying and financing process. You’d be surprised to discover that building a home is much more affordable than you think.

From a financial perspective, once you have a plan and budget laid out, you’ve already figured out half the battle.

With all of the tax savings and first-home buyer incentives explained, building a home is a much smarter way to invest your money than rent.

Renting a property is like flushing money down the toilet.

Your money isn’t going back into the equity of the home, you don’t have any assets and you’re essentially helping someone else to pay their mortgage.

When you reframe home ownership to look at your property as not only a place that you live but a save planning; home ownership becomes the clear, most-advantageous choice.

Building your dream home doesn’t just mean you become a homeowner.

It means freedom. As in, financial freedom.

As a Millennial, you likely want to resist the confines of what’s expected of you.

Whether you remain lusting after a nomadic “Instagram lifestyle” or plan to put down roots for a while.

Build a home instead.

smart home technology in architecture custom homes and new construction projects

Why Home Builders are embracing SMART home technology

As if we’re in a real-life Jetson’s episode, today’s SMART home technology is allowing John to be able to start dinner while stuck in traffic on his way home, unlock his front door for a delivery while at the airport or check on what his dog is doing while in a work meeting.

Turns out… homes are getting smarter. Literally.

Quickly advancing digital technology has completely changed the home design process.

SMART home technology connects directly to your Internet. With only just a WiFi connection and some savvy programming, you’re able to automate basic tasks and monitor in-home systems.

Further, SMART home technology is designed to be naturally intuitive and super easy to use. So that homeowners can effortlessly add new apps and products to their system. As well as remain more connected to the protection of their property.

Devices that are connected to your home can send the homeowner notifications if any alerts, alarms or changes to the home environment occur. Especially if you live or want to build in a rural, quiet area, SMART home technology can give you incredible peace of mind.

The future in custom home building is calling

In a lot of ways, there’s no denying that technology has made life more convenient for us.

Imagine you could have everything in your home connected to your smartphone. How would you feel knowing that all of your devices are also able to send you information, updates and take your commands?

Today, there’s a number of SMART home products. Take your pick from high-security video systems, command-driven appliances, automated shade and window blinds, cooking utensils and more.

Start with the construction process

Equipping your home with SMART home technology starts with the construction process.

During the construction process, new homes should be wired properly. This allows for seamless wireless integration to support home automation products. Some of these products can include thermostats, lighting, garage doors, exterior door locks, appliances, entertainment systems, and security.

If you’re wanting to renovate your home to incorporate SMART home technology, fear not. It’s still possible. However, older homes can have issues with supporting wireless capabilities and reception might be inconsistent from room to room.

This SMART home technology can increase your home’s potential resale value

From a custom-home building perspective, it’s all about fusing tech with connected design.

If you ever choose to resell your home at a later date, prospective buyers can perceive any existing smart home technology to be a major benefit when in the market for a new home.

More and more home buyers are opting for technology capabilities in their home builds. In the same way that hardwood floors and granite countertops add impact, the reality is: technology adds value to a home. It’s not uncommon for a break and enter to happen while homeowners are on vacation or out of town.

As a custom-home builder, it’s part of our core mission to offer our clients with as many options and home-improvements for their future residence as possible.

As we always say, we build to last, and we keep the future of you and your family top of mind.

Keep in mind when considering incorporating any SMART home technology into your custom-home build, you want to cover the basics. Keep in mind, SMART home technology is often highly personalized. It depends on your needs and wants as a homeowner. One tech tool that matters to you might not matter to another.

With whatever products you inevitably choose, you want the tool to be incredibly easy to use, not noticeable in the design and reliable for everyone.

With this technology, your home has the opportunity to improve your quality of life in new ways.

We’re committed to building your dream home with innovation and change in mind. So that we can deliver the best possible product to you.

Quite simply, this is the digital age and we’re building homes for the future.

At BRIKS Design-Build Group you can rest assured that you’re getting the absolute latest in design trends with future-thinking capabilities and ideas.

roof

Build Your Dream Home with BRIKS Design-Build Group

Finding your dream home in today’s real estate market isn’t easy. Instead, many home buyers are using design-build firms to start from the ground up.

A design-build firm offers the option to customize every detail to suit their clients needs.

With the ability to land desirable addresses in high-demand neighbourhoods, building your dream home has never been easier than it is today.

Whether you’re building or remodelling, the end result of developing your custom-designed home is a rewarding one. As long as you’re working with the best in the business.

Our offering at BRIKS Design-Build Group is one of distinct resonance and luxury.

Each of our projects include embodying our client’s vision and bringing it to life. Through decadent design-build solutions, we strategically build with functionality in mind.

Planning to Design-Build

As with anything, preparation is fundamental to successfully building your dream home.

Consider what’s important to you in a new home. Try to make a list that’s as detailed as possible and then organize it from “must-haves” to “nice-to-haves”.

It’s important to realize that you may not be able to achieve everything on your list. You must take into account budget restrictions, property constraints or site availability.

Making a list will help you to determine what’s a non-negotiable for you and your family.

Determining your Design-Build budget

Contact your financial institution to figure out how much money you have to work with.

Unless you’re paying cash, you might need to secure financing for a new construction loan. This pays for the builder, subcontractors and suppliers in stages.

With any budget, ensure that you leave room for other expenses such as appliances, furniture, and landscaping.

Experienced design-build firms will be able to assist you with mapping out what’s realistic from a monetary perspective and how much it’s going to cost you.

Once you’ve determined your budget, be prepared to stick to it. Or at the very least, allow for some buffer room to make additions.

As your dream home takes shape and you start to see it in real life, some home owners want to make changes or additions periodically.

BRIKS allows you to complete your design-build project within your pre-determined budget. Our commitment to you starts with safeguarding the completion of your beautiful new home.

Selecting your Design-Build location

Location is undoubtedly one of the most important aspects to your new home.

You can always build a new home, but you can’t bring the address with you.

You’ll want to assess the property for the size of the house you want to build.

This will be particularly important if the area you want to build in has any zoning restrictions.

Often waterfront properties have to adhere to building height restrictions, maximum lot coverage and strict property lines.

Communicate your Design-Build expectations

When you’re working with a design-build firm, communicating your expectations with your builder is essential.

Ask yourself if you want to be heavily involved in the design process. On the flip side, you might want to work with a builder who can draw up different plans and take the lead with minimal direction.

You’ll want to get clear on the timeline, the scope of your budget and your expectations.

Drawing up your Design-Build

Once you’ve worked through the fundamentals of building your home — we get to the fun part.

Drawing from structural craftsmanship and made-to-order opulence, your custom build home has the chance to become luxe re-imagined.

While a design-build firm can create pretty much anything you envision, it’s your polished preference and personal taste masterfully balanced that will ultimately come to life.

Generally, there are three most popular home designs to consider.

Traditional homes are generally inspired by historic designs with vintage, classic fireplaces that add charm and character. 

Modern homes are usually characterized by clean lines, open spaces complemented with contrasting textures such as raw oak paired against mixed metals and sheer glass.

Modern homes can offer a range of design options, often showcased with alluring palettes of brass, bronze or gilded gold to make a striking statement.

The modern-designed home is one that’s architecturally striking in its appearance, yet subtle in its design.

Contemporary homes are often designed with simplicity and functionality in mind. A contemporary home is trendy and fashionable while simultaneously novel and smart.

Matched with textural touches, raw timber and polished concrete finishes, contemporary homes can give an ultramodern feel.

When it comes to the design-build process, architects can help you strategically design your dream home while working within your budget.

Meanwhile, an effective builder is overseeing and executing the day-to-day operations.

Acting as two counterparts merging their areas of divine expertise, at BRIKS we build for your future.

While building your dream home doesn’t happen overnight, one thing is for sure: the wait will be well worth it.

Click here for a full list of our design-build services.