Building versus buying is a major dilemma in the new home market. The freedom to make decisions about the details of your home and watch it take shape holds an undeniable appeal. There is also something to be said for the security of comparison shopping, walking through a house and "kicking the tires" before you sign on the dotted line.

What are the pros and cons to consider when making the choice? Is one option really better, or is it just a matter of preference?

If you build. . .
You get to take control of the situation. You can be involved in numerous decisions, from the floor plan to the materials used in your home. You have experts to advise you every step of the way. You can monitor the construction process, learning useful things about home construction and gaining a sense of ownership that can only come from watching your house take shape step by step.

But. . .
You are forced to deal with missed deadlines, potential cost overruns, and stubborn contractors. Every time you turn around, it's time to pay for another inspection. You might start to feel like the grass on your soon-to-be lawn is growing faster than the new home you are waiting to move into.

If you buy. . .
You get to be a critical shopper, comparing different features until you find exactly the right combination at the right price. You can compare the neighborhoods, the schools, and the potential return on investment for your top choices. You can drive a tough bargain and get the best deal possible, knowing that in a competitive market, there are other options waiting for you right up the road.

But. . .
In any new home, there will be concessions. Some rooms may be too small, others too big. Changes you considered making as soon as you moved in may seem impractical now that the closing costs have been paid, and pretty soon your dream home has turned into your not-so-bad-for-now home.

How much difference is there?
Building your own home may sound scarier than it really is. Unless you are an experienced architect, the plans for your home will be chosen from an assortment of pre-approved options. There will be experts signing off on every aspect of the design, so there is no danger of taking a wrong step. You will have control over numerous details such as lighting and plumbing fixtures that will affect your everyday life once you move in, but you don't have to take responsibility for making sure that elements like wiring are up to code -- you will pay licensed professionals to do that for you.

If you live in an area with rapid growth, you may not need to build your own home. Chances are, with all the houses out there for sale, at least a couple of them will include all the elements on your top ten list. Unless you have special architectural needs such as handicapped access, the structural options of building may not offer much more variety than a day or two of house hunting will offer. Obviously, if time is an issue, buying a house you can move into is more cost effective than making housing arrangements while your home is being built.

The eco-friendly edge
One advantage of building your own home is the opportunity to take advantage of new eco-friendly features. Being involved from the ground up allows you to control not just the light bulbs and appliances, but the flooring, insulation, and even many building materials which may be available from environmentally sound sources. Environment-minded contractors may also adhere to low waste policies so that materials are used in the most efficient way possible, leaving less scrap behind to go in the landfill.

Wheeling and dealing
One significant advantage of buying a new home is the opportunity to negotiate. No matter how unreasonably low your first offer may be, you aren't committing yourself to anything but a great deal. Keeping track of the number of homes for sale in a particular neighborhood can give a buyer extra leverage, even if none of those other homes suit them. Meanwhile, even a well-educated consumer will have to take the contractor's word for a lot of the expenses in building a house, and once the contract is signed they are on the hook for the whole bill. As long as you make your choice carefully, buying a home is likely to be the best bargain.

Whether you decide to build your new home from the ground up or buy a home that already meets your requirements, some things will be the same. Either one can involve more than a few headaches. There may be times when you feel like the process is controlling you rather than the other way around. On the other hand, setbacks will be temporary, and the end result will be worth it -- moving your family into a new home you can be proud to call your own.