Build Vs Buy: Figuring Out What Works For You.
When it’s time to move into a larger house, you probably think that you only have one option: buy a new property. But is that really the only option that you have? What about building your own home yourself?
Of course, both buying and building come with their very own set of pros and cons. Not too sure which is the best one for you? Here are the various things you need to weigh up.
The Mortgage
Whether you want to build a new home from scratch or buy a property, you will need to get a mortgage. There are different mortgages available for buying and building homes. Unfortunately, it can often work out a lot more difficult to get one to construct a home. That’s because this venture can be quite risky for a bank to lend against. To ensure you can get a mortgage to help you build, you will need to already have blueprints and a team of contractors ready to start so that the bank know that you are very serious about this.
Building: Bespoke
Of course, one of the most appealing factors of building a home is that you can have it exactly how you want it. You will be able to meet with an architect and contractors to design the home that you’ve always dreamed of. For instance, you might want to get more info from WildWoodRoof.com to see the different types of roofs you could get. You can also talk to different contractors about the various kitchens and bathrooms you could fit into your home. If you have an idea, then it could very certainly become a reality in your new home!
Buying: Faster
However, the major downside of building your own home is that it could take a few months to complete the project. In actual fact, most building projects can take at least a year to complete. That’s not the case with buying a house. Sure, sometimes it can take a couple of months for the legal transactions to go through but, more often than not, the whole process is very quick. It will certainly be a lot quicker than building, and you will be all moved in before you know it!
Building: Make It Green
Lots of people are now striving to make their lifestyle a lot greener than what it once was. Unfortunately, homes that were built a few decades ago weren’t constructed using the most eco-friendly of methods. Not only that, though, but it can be quite costly to try and convert them to be more environmentally friendly. But if you build your own home, you can now use a lot of green products and methods to ensure that there is a very small carbon footprint. Plus, you can install lots of modern systems like the ones on ecolivinguk.com to ensure that it continues to be a green home!
So, do you think that you should build or buy? As you can see, there is certainly a lot to consider before you decide!
I have always wanted to build my dream home. I could make it energy efficient.
I lean more toward just buying. I’ve seen the hassles that comes with building.
Thanks so much for the review!
In an ideal world I’d have one built using all the green options available.
We had our home built back in 1994 and everything went pretty smoothly
I GUESS I WOULD BUY.
I think I would just buy.
I think I’d rather build than buy.
I would like to build. I have90 acres of split between 2 countries. I just don’t make enough my right now to buy the lumber.
Interesting read…we built our house totally by ourselves with salvaged wood. It’s cool to be able to say that!
Great information to help making a difficult decision!
Wish I could do either of them
There are a lot of pro’s & con’s for each. My parents (many yrs. ago) bought a piece of land. When that was about paid for the decided to build a home. It was very interesting. It was nice to be able to pick my colors for the walls and carpet in my room. Especially as a young teen at the time.
I would love to be able to build my own house! I think that it would definitely cost a lot more as well as taking more time. Thanks for sharing!
I love the idea of building, but I find it to be very daunting. I would prefer to buy something close o what I want and add the touches I want.
I would have to go with what my budget allows. I would prefer to buy vs build but I would also like my heating and cooling system to be green or energy efficient.
These are some nice houses looking good
We are going to be looking for a new house next Spring. And these are concerns we have. I really enjoyed your review.