Building your own home certainly sounds appealing at first. You get to design everything the exact way you want it. Plus, everything is brand new! However, there are some intricacies to building a home that you might not expect when you first get into the process. Here's a look at both the pros and cons of building from the ground up. Hopefully this information will help you make a more informed decision as to whether building -- rather than buying an existing home -- really is your best option.

Pro: You can customize the home to meet your unique needs.

If you have unique needs -- such as the need for a woodworking shop on site, accessible stairways, or a professional kitchen -- building your own home gives you a lot more flexibility. Though you may find homes on the market with the feature you need, they are likely to be few and far between, and you may not like everything about them. When you build your own home, you don't have to compromise on other things in order to accommodate your unique needs.

Pro: You don't have to worry about repairs for a long time.

If you buy an existing home, every appliance from the furnace to the water heater will likely have some sort of wear. Chances are that something is going to need repair or replacement soon. When you build a new home, however, absolutely everything is new. You should not have to worry about replacing anything at all for five or even ten years. This gives you a lot of time to focus on settling into your home and adapting to your regular bills without having to budget for repairs.

Con: You can't move in right away.

The process of building a home often takes up to a year from the time you purchase the land to the time the home is move-in ready. There's a lot of waiting as the contractors get plans approved and apply for permits. Certain parts may be backordered, or plans might need to be changed to meet codes. In the meantime, you'll need to find somewhere else to live.

Con: It's often more expensive.

It's rare for someone to save money by building their own home. When you build, you have to pay for permits, surveying, and plan drawings along with all of the materials and labor. These costs can add up quickly, and they're hard to predict from the get-go, so you may end up paying a lot more than you planned in the long run. Costs are a lot more straightforward when buying an existing home.

If you're still unsure of which is the better option for you, contact a real estate agent for professional advice.