Should you build or buy a house?
Whether you choose to build or buy a house, each option has its strong points.
There are various ways of one owning a house, and the most common means is by either building or buying one.
Whether buying or building a house, it’s important that you understand the weight that each option carries.
Building a new house involves many steps and these among others include; having land, getting an approved plan, mobilising construction material and overseeing the final touches.
While buying a house requires a few steps that include, verifying ownership, agreeing payment terms, inspecting the building, making transfers and finally the payments.
Building your own house
When you build your own house, you will enter it and have everything the way you wanted it, and you don’t have to spend additional funds on remodeling the home the way it is if you buy it.
When building your new home, you have freedom to choose the quality of materials to be used, unlike entering an already built house where you get everything ready built and fixed which makes it difficult to notice the quality of materials.
The house owner has liberty to check the quality of work during construction and if the builder shows compromises on the quality, he can be forced to do things the right way.
When a house is up for sale, the seller is normally interested in a buyer with the highest offer, whereas when you are building your house, you always want to hire a builder with the lowest bid.
Buying a house
The buyer is able to move into his newly bought house as soon as the deal is closed, unlike having to wait for months while building a new home.
Since you are able to move in a short time after buying your house, It will help you save the money on rent, this is so; because, when you decide to build a house, it normally takes a period of at least four months or more to complete, which means, you will continue renting until your new home is ready.
If you are on a tight budget, you can decide to make changes (modify or upgrade it) on the home as you live there.
When you buy a new house, you are joining an already established neighborhood and you don’t have to worry about the type of house your immediate neighbour might build.
Studying the plan of an already built house while walking through it makes it easy for the buyer to understand it easily, while for many people, it is rather difficult to visualise their house from the architectural layouts (plans).
