We bought our land 4 years before we built our home. We wanted to build our dream home and were not in a hurry to rush into it and then regret decisions made too quickly. I was the designer on the project and honestly enjoyed all that it entailed. We also had a wonderful builder that made the whole process go seamlessly and stress free. After we chose a house plan and had it updated to include the must-haves on our list, I poured over those plans for hours and hours making sure each room was as ideal as possible. Now is the time to decide if you want an HVAC duct in that place or a light switch or outlet in that spot. Decide if you want floor outlets, special outlets in pantries or cleaning closets. Are the rooms the right size? Could a couple feet make a difference anywhere? I sure wish we had made our laundry room 3 feet wider. Choose as many products as you can before your builder gives you his estimate. If you want granite and he's giving you laminate pricing the cost will be more. Also, painting the interior all one color is less expensive than having several rooms painted differently. Are you going with pre-painted siding or having the exterior custom painted? Are you using brick, cultured stone or natural stone? Huge difference between brick and natural stone. Plumbing fixtures vary in price as do lighting and appliances. Make sure he's taking your choices into account with his bottom line. Think about any upgrades in insulation, soundproofing, radiant heating, etc. The best advice I can give from someone who's been there, done that, is to sit down and really think about how you want the house to look, function and feel....and cost. Are there things you can't do without? For us it was a 3rd garage, his & hers master's closets, a computer space off the kitchen area where we can monitor our son, and a particular type of kitchen layout. Break the house plan down room by room if it's overwhelming but KNOW WHAT YOU WANT. If you're unsure of that then you can be talked into a lot of stuff you will find out later you really didn't need or want. Almost all of us have to stick to a budget so the trick is getting what you want overall at a price you can afford. This website is a treasure trove of information that I'm sure will benefit you in the days to come. Good luck on your build and keep your chin up.

If you have a fixed idea of what the house has to look like then having the assistance of an architect in looking at land makes sense. Placing the house on the lot and adapting the plan to the unique properties of the lot is one of the most critical roles the architect fills, so if the house is relatively fixed then you need to find a lot that works. Most folks find the location and land then adapt the house to fit, but it's not a rule that you have to do it that way; most of the time it's just easier than finding the perfect location for a pre-designed house. An architect should certainly be able to show you different ways your design ideas could be adapted to different kinds of lots in the event the perfect site isn't just sitting there for you. Then there are those that obliterate the land to fit their house... Have fun!

This is a great thread for those contemplating building a new home. Clients are often bringing me sketches of floor plans or plans they've found online. Such plans can be helpful as a point of departure but almost always require a complete redo. What helps me more is a detailed conversation about lifestyle, philosophy of art and design, and a deep understanding of the site.

If you're thinking of this as investment, that looks different. The answer to your "which is better" question is "probably neither." If you build new, I can almost guarantee that you'll lose money on the resale. If you buy existing and renovate, you'll be lucky to break even. And don't forget that every renovation you spend your cash on represents cash you can't invest somewhere else. I'm not an expert on this, but based on what I've seen friends succeed and fail at, there are two ways I know of (there are no doubt others I don't) to make a profit on your personal home. 1. Ideally in a cool market, buy an existing, well maintained home with desirable design in a desirable neighborhood where homes are appreciating. Live in it and maintain it well. Don't attempt any renovations whatsoever. When values are approaching your profit goal and the market is hot, but before the decor and design you bought would be considered "dated," clean it, paint it, buy a new range and a big refrigerator, and sell it. Repeat. 2. Buy a distressed property (foreclosure, estate sale, similar) with fundamentally desirable design in a desirable neighborhood where homes are appreciating. Repair what's broken. Live in the home and maintain it well. When home values in the area are approaching your goal, no sooner, decorate and update based on what's then popular and what's selling. No layout changes, no wall teardowns, no major renovations. Sell when the market is hot. Repeat. Either way, if profit is your main motive, or even a significant one -- from the second you start house hunting, your house is never your home. It's always your potential buyer's home. Don't buy a house because you like it, buy it because your buyer will. Don't change things because you want them that way, change them because your buyer will. If you're thinking in terms of what you need or want in a house (main level bedroom/bath, open floor plan, brick facing, and so on), you're already on the wrong track. I watched that happen to a friend some years ago. She had loads of fun renovating her house, but she got almost none of her costs back when she sold it. She would've been better off to have spent the renovation money on a couple of fun vacations.