When you start looking for houses to buy, a whole world of options will unfold before you. You may not have considered the cost of building your own property versus buying a new one, and why should you? Building a new home can be a very exciting venture, as you get to choose everything from the floorplans to the colours that are on the walls. It’s a big range of choices that you have to consider and sometimes that could feel overwhelming.
The prices of houses are on the increase again and there are certain times that it is ideal to get onto the property ladder and buy a house. With that in mind, while you’re considering all the costs that come with buying a new house, from surveying to hiring conveyancing solicitors to help you with the legalities, should you think about building instead? It’s going to be a tough choice of which investment to make, so we’ve put together a little guide for you below.
Building A Home
New house prices can often be higher than homes that already exist and have been lived in previously. The thing is, you could spend a lot of cash doing repairs and fixings in the older house to get it up to scratch. You could be blown away by what you could manage to afford simply by building your own dream home. Discounts are usually available to those who build as crews want to keep working, so what they offer can be more exciting!
These are some of the pros involved with building a home:
Material discounts from builders can be a huge incentive to build. The more you buy, the more money off and you can negotiate the materials used as well!
When you build, everything in your home is fresh from the box. The toilets have never been used. The kitchen has never been cooked in. You also get the chance to make huge home improvements that you have always dreamed about.
Buying A Home
Do you know what the biggest pro for buying a home that is already built is? The fact that it’s already built! It’s ready and standing just waiting for you to move yourself in. It doesn’t have to be the most perfect house you’ve ever seen, either. A lot of buyers love a good fixer-upper because they can then stamp their personality over something that has stood the test of time. You can take your time to make upgrades without having to wait months for a completed build to move into. The other good thing about buying a ready to move into home, is the fact that it’s already a settled building. New builds always need time to settle into the foundations, which can see the walls cracking and staircases coming away.
All in all, building or buying is really going to depend on your preferences and levels of patience! If you can’t wait, it makes sense to buy a house you can move into. If you can, then start designing your dream home!