Buying a house or building from scratch- Which is financially better?

[Fidelia]

For some people, it is paramount that they must own a home. And there is a choice between building your own home from scratch or buying an already developed building.

Which one makes more financial sense between buying a house or building from scratch?

 

[eLdavis]

I don't really think there is a fixed answer to this though. At the moment the cost of building materials has gone up, so one would rather go for buying. On the other hand, there are certain houses that requires lots of repairs after buying, this might make you spend more

 

[Kross]

I think that it pays more to build your house than having to buy. Whoever sells a house to you would add a substantial amount as profit. While building from scratch allows you to be able to manage costs and get a good quality.

 

[Springtime]

In my location, apartments and houses are built by real estate's developers. There are lots of regulations involved. Ordinary people cannot build a house from scratch.

 

[Fidelia]

In my location, apartments and houses are built by real estate's developers. There are lots of regulations involved. Ordinary people cannot build a house from scratch.

So if I want to own my personal house, I have to let a real estate developer build the house for me or I have to buy them?

 

[Stardom22]

For me l think that the buying of the house can be of financial cheaper compared to the building of the house from scratch that involves the buying of the land, building and construction expenses and all that.

 

[King Belieal]

I don't know but I think that building a house would be cheaper because if you buy, the seller would add a profit to sell to you from the amount he spent to build which might also be the same amount you would spend if you build it yourself from scratch.

 

[Nomad]

Building your own house cost less compared to buying, when you buy a house, you also need to pay for the land

 

[SHAHID987]

Building from scratch is perfect for me, because by doing this I can make all the things with my likeness and dislikeness. While if I purchase a house then I have to compromise with something.

 

[magnus2022]

It is far more better to build your own house by yourself. Through this means, you can be able to build the house to your standard and taste. Moreover, most estate managers and builders use to use low quality materials to build houses they use to sell which is very bad.

 

[Springtime]

So if I want to own my personal house, I have to let a real estate developer build the house for me or I have to buy them?

Post automatically merged: May 29, 2024

Normally, a real estate developer will not build a house for a single client unless you are super super rich. We have to buy the house or apartment from them.

 

[Fidelia]

Post automatically merged: May 29, 2024

Normally, a real estate developer will not build a house for a single client unless you are super super rich. We have to buy the house or apartment from them.

I think that is quite expensive. With having to build your own house, one can save money. Some people even use family labour for some of the non professional activities in building their houses to cut costs.

 

[kerryjoy]

I believe building your own house is more financially rewarding than buying one, as sellers often include a substantial profit margin in the sale price.

 

[freelancermaria]

I believe building your own home is preferable. This way, you can tailor it to your specific needs and preferences. In addition, it might be more cost-effective than buying.

 

[King Belieal]

If you are someone that has a specific taste when it comes to designs if houses, it becomes more expensive to buy a house because you would have to put money in it to make it your taste.

 

[Augusta]

Buying a house will depend on the outlook of the house at the time of buying. if it is in good condition why not but if not I'm not buying anything