There are two main options when you're looking to purchase a new home. Option No. 1 is checking listings in your area to try to find the floor plan, amenities, location and other must-haves that are on your want list. And Option No. 2 is building a home - specifically a custom home. Both options have their fair share of pros and cons. Searching the market, for example, can be stressful. The national housing market is still on the rebound, meaning that home values are low and good homes are being scooped up within days after they hit the market.