Buying or building your own home, which is better?

Janetoje

New member
It all depends on the cash at hand, both have their advantages and disadvantages. In building your own home, you get to determine how you want things to be, however when you buy a home, what ever you see is what you will manage even though there is room for renovations. Building a house takes more time than buying a house. If you have your money today, you can purchase a new house today. In buying a house you get to have genuine title/ papers for the house. Currently because of the cost of building materials, buying a house is cheaper than building.
 

Sammyesx

Active member
Building your own house is the best it gives one that feeling of living in a house you built yourself, it also gives one the chance of building the house to your taste and style and also you will be the first person to live in the house. People tend to buy houses because it is more cheaper compare to building
 

Divinechidera

New member
Well, if you are not in a rush(and you have a lotta cash), you can build your house by yourself and tune it to your taste(personally, I love this one). Most people prefer this one because they can be able to put some things which they personally want for some issues unique to them. Although,there might be some unforeseen circumstances encountered while building, I still prefer building to buying a house because it allows me to fine-tune my building to my taste.
 

Ephy

Active member
Who doesn’t love getting something brand-new—especially if it’s custom-made just for you? The problem is, custom-made things tend to come with higher price tags and longer delivery times—which are important factors in deciding whether you should buy or build a house.

A house is way too big of a financial responsibility to make a wrong choice here. To help you land the best decision for you and your budget, we broke down the pros and cons of building a house.

Let’s check them out!

Is It Cheaper to Buy or Build a House?​

Last year, the average cost to build a house was over $485,000.1 Meanwhile, the average cost to buy an existing home was nearly $309,000.2 That means, choosing to buy a pre-existing house instead of building a new one could save you almost $177,000!

And if you took the middle road and bought a new, semi-custom tract house, it’ll still cost you about $50,000 more than a previously owned home.3

Pros of building your home
1. Lower maintenance
2. Lower energy cost
3. Desired customization
4. Newness

Cons of building your home
1. Longer wait time
2. Harder to negotiate price
3. Stress
4. Unforeseen hidden costs

Just my little contribution. What do you think?
On my side I'll prefer to go for buying rather than building cause building is more difficult your are forced to do many things and you waste a lot of time compared to buying a house that has been built. If you buy an old house maybe what you just have to do is paint the house and buy new furniture of your choice or you can just decide to use the one you bought with the house. Here also there is little stress no need of buying a plot, collecting of resources from different places and gather them for the building process to start which will be more costly in term of buying the items needed and transportation too. So I'll rather go for buying a house already built up by someone.
 

Josemendez

Verified member
If the house you want to buy is in good shape ,and built according your taste ,and if the cost price is lesser than the estimated price for building a new one , then you should go ahead and buy it .

However , it better to build a house by oneself because it will go a long way in assuring the person , the durability and quality of the materials used in building the house . This is safer than a house you only judge based on physical appearance , without knowing other things about it .
 

Augusta

VIP Contributor
I will always prefer to build a house than renting one. Building a house for me is more cost effective, you will be at liberty to buy your own kind of raw materials you need for your building. Also you can build at your budget than when you need to buy. Building a house will afford the owner the opportunity having a house of one's dream because the design and structure will be the idea of the owner which is the desire of everyone.
 

singlej007

New member
I have both experienced in buying a house and renting a house. From that my experience, I chose building a house over buying a house.
1) the nature in which the land is utilized in were I build my house is different from the one I bought, the one I bought was not placed the way I want it to utilize space if I were the one that built it.

2) the style and building standard of the one I bought is not up to the taste of the one I built etc.

3) the one I build is cheaper and more beautiful than the one I bought

4) in selling aspect, the one I built is more profitable than the one I bought.
 

Adetayo100

Active member
It is still much cheaper to buy an existing housethan to build a similar size new house. Second hand housing in some part of the world is now on average one third cheaper than similar size new housing. Existing houses provide home buyers with better value for money than new houses
 

Kennysplash

Verified member
Who doesn’t love getting something brand-new—especially if it’s custom-made just for you? The problem is, custom-made things tend to come with higher price tags and longer delivery times—which are important factors in deciding whether you should buy or build a house.

A house is way too big of a financial responsibility to make a wrong choice here. To help you land the best decision for you and your budget, we broke down the pros and cons of building a house.

Let’s check them out!

Is It Cheaper to Buy or Build a House?​

Last year, the average cost to build a house was over $485,000.1 Meanwhile, the average cost to buy an existing home was nearly $309,000.2 That means, choosing to buy a pre-existing house instead of building a new one could save you almost $177,000!

And if you took the middle road and bought a new, semi-custom tract house, it’ll still cost you about $50,000 more than a previously owned home.3

Pros of building your home
1. Lower maintenance
2. Lower energy cost
3. Desired customization
4. Newness

Cons of building your home
1. Longer wait time
2. Harder to negotiate price
3. Stress
4. Unforeseen hidden costs

Just my little contribution. What do you think?
 

Olajidey

Active member
I will have to go with building my own house because you will have to make your own choices of design you want and how you want the house to look like but in the case of buying house the design is already there you just have to go in and only do renovation such as repainting that's all. So either buying a house or building a house you have to consider what you want because both come with advantage and disadvantage. Buying house come with it advantage too. You have to buy your house cheap and use the rest of the money to setup another tin.
 

Alexandoy

VIP Contributor
Buying an old house is cheaper while buying a newly-built house may be more expensive especially if the seller’s business is real estate. I would prefer to build my own house so that I can so the design. I want a bigger bedroom and also a wide bathroom. But with a ready-made house the sizes of the rooms are usually standard. The downside for building the home is in finding a good contractor for the construction. There are scammers here that would vanish after receiving the down payment which is usually half of the budget for the construction.
 

Seyesystem

Active member
It's always good to build your home by yourself, you will buy your land and be sure of the land you bought and then start your type of choice house If you build a house from the ground up, you’ll get to personalize the details to suit your lifestyle from the layout, cabinets and flooring to the sinks, lighting, paint colors and Even tract homes built within allows for some color choices, flooring options and certain finishes. It's good to build your tasteful house by yourself.
 

Jonaville

Active member
The building of homes is not a popular concept in the developed countries. But here, I prefer building my own home by myself. This is because there are some patterns and designs employed in the building of the house that might not sit well with me. So if I'm building my own home, I would be able to choose how the structure will be like.
 

Vinkce

Member
No matters the argument, it still stands that building your house is the best. You get to decide how you want every part of it to be because you are present at every facet of it's construction.
When you build your house, you are fully in control of how you want it to be.
 

Ralphjoe

Active member
When making a choice between buying a brand new house or building my own house, I would always go with buying an already built house because it's more convenient and cheaper in the long run for me.
Building a house is a very stressful project for me where I will be expected to be visiting my building site all the time to make sure that the building is going according to my specifications, this can be so stressful to me, so to avoid this, I will prefer to buy a brand new house that I like.
 

Peppul

Active member
Well to me both are good depending on the capital at hand to start up the project.. there are well furnished apartment that can suit your taste which you can buy if that's what you want, or you build to ur taste.. it all boils down to choices and money at hand.
 
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