Real estate has always been a topic which will have different factions. There will be those that will say that it’s okay to just buy a home that’s already been built. In other cases, there will be those that will tell you that building your own home is significantly better. Today, we aim to explore both cases.
Building a home or buying a home—this has always been a great question that has plagued potential home owners for decades. Back in the day when people mostly lived off the land, it was critical to build a home as there were no pre-built homes. In today’s world, there are a lot more options to choose from. Let’s take a look at the merits of both.
Building a home has always been a dream for many because of several reasons:
Measure of “true” success
Not everyone can afford to have their own homes built. After all, it requires getting the land, coming up with a solid concept by working with an architect, then comes having a professional team come it to build it for you. This, as you may imagine, can set a person back for thousands and millions of dollars.
Building a home is often been preferred by many since it allows them to put their personal stamp of approval on everything. Every single facet of this home will be up to their specifications and desires—a truly wonderful sense of accomplishment and freedom.
The trouble with building a home is that it will cost you A LOT of money. A building project is not something that you get into half-heartedly. It should require significant thought and planning. Setbacks to a projected timeline can also be quite troublesome when it comes to building a home.
Buying a home is still a pretty big dream held by many because of this reason:
It beats renting
Having a home to call you own provides a level of security like nothing else. When a person is able to buy a home, they save themselves from having to give over money toward someone else’s wallet.
The trouble with buying a home is that you are stuck with a style or design that is set by someone else. While you can have it renovated and changed, that will still cost you money. In most cases, homeowners tend to spend more in buying a home then getting it renovated as opposed to building a home. Also, there’s no assurance over the quality of the home you’re buying. One can make a home look good but have shoddy materials within.
Whether it’s buying a home or building a home, people will always argue that having a home at all would be the best thing to happen. Both building a home and buying a home comes with their own ups and downs so it’s important if people are able to discern which one is best for them and their finances in the long run and not just in the interim.
If it came down to it, would you: buy or build?