The all-time future homeowner’s dilemma: “Should I buy or build a home?” Primarily, the biggest concern here is: which one would fit your budget. Depending on your wants, needs and how much budget you have, getting a sight and live in your dream home should not be that far stretched anymore.
You need to know the advantages and disadvantages of each option. Before hiring an agent, a builder or even consider signing a contract to buy a home, here are tips to help you head in the right direction — to buy or build.
Pros of building a house:
Customization. The biggest and major upside of having to build a home is to get exactly what you want and what you have always dreamed of come to life. This is an endless possibility without any limitations (unless you’re on an extremely tight budget) for you and your family — from layout, floor plan, decoration and for the women — the kitchen. Since you’re building your own home, you can go all out on your favorite part of the house.
Save on utility costs. Another advantage of constructing your own house is having the most energy-efficient and cutting-edge construction materials. In pre-owned houses, some materials are outdated and have been functioning for years hence, decreases its quality and foundation. Although it might cost you more, new materials, appliances, utilities and furniture that will stand the test of time is far better than sticking with rusty and old ones which you will, later on, replace and renovate thus, costing you still eventually.
Cons of building a house:
Move in takes longer. As well as the building time. It could take at least 5-7 months of building time and then afterward you can only start to move your things. Weather and other sudden instances may delay the construction so you need to look into the forecast and keep an eye on the building process. Also, if you can speak with the builder, tell them you have a goal on when it should be finished and work it around with the builder.
Cutting corners. As previously stated, building a home isn’t cheap so you need to prepare a large amount of money and ensure your loan before you start building. Also, ask for a breakdown of expenses from the builder, architect, and engineer just so you know how much you really need to allot for the building process even if it’s an estimate. In addition, leave an extra room for unexpected expenses and circumstances. By doing so, you wouldn’t have to cut corners when you suddenly run short when decorating and designing your kitchen or other parts of the house.
Building your own home is truly gratifying and satisfying since you’ve waited months and spent a lot of money just to acquire and have your dream home a reality. Do keep in mind to hire the best builders, architects, engineers and other contractors that will help you in fulfilling your abode.
Pros of buying a house:
Negotiable. Sometimes, sellers give the best of deals probably because they want to sell the house faster. If you have a few demands you would like to raise to the seller, tell it to them and try to negotiate until you come to an agreement that’s both favorable to you and the seller.
Existing appliances and furniture. Often times, sellers leave a few pieces of furniture and appliances they no longer need or find useful that comes with the house. It could be a vintage coffee table, a microwave, few stools and the likes.
Move in quickly. Unlike when constructing a house, you actually have to wait months before you rest and take a grasp of your new space. For those who are extremely fine with pre-owned or newly built houses and are eager to move places at the soonest time possible, this is your best option.
Cons of buying a house:
Less flexibility. Since the house is already laid out, furnished and structured, you can’t really choose to remake a small room and have it adjusted by the seller. If you want such major changes, you’ll have to have it renovated and cover the expenses yourself.
Maintenance. Old built homes usually tend to have more repairs than newly built ones. This is the major problem you’ll be facing if you choose to buy a home since old materials wear out and break over. Moreover, since it has been occupied by owners who had a different design and overall taste than you, you might have to also do some replacements or makeover of the outdated features.
There are a number of factors to consider before you narrow down to your final decision. Look at all the angles and make up your decisions based on what you’ve gathered.
About the author: When she’s not looking over Pinterest searching for Home decoration and design ideas, Chie regularly writes for PAAL Kit Homes. It is a company that manufactures and supplies steel-framed kit homes that help Australian families build their dream home.
December 21, 2017