Should you Buy or Build a Home?

Should you Buy or Build a Home? | Home sweet home. This year during the pandemic, my mother-in-law was thinking to went back to her old house in Kuantan. The semi-terrace home is a comfortable home to live in compared to the house we live in right now. But the house has too many bad memories for her and it's not a dream home for her. I guess we need to sell the house and buy a dream home for her.

When planning about your dream house, there are many things you need to consider from the place, price, and even the types of home you wanted. When it comes to owning a first home, there are two options you can take; buy a finished house or buy land and build a house. The first option seems to be the most popular because it is not complicated.

pic source : google

But many also take the second option as an option. That is, build a house on your own land because there is more freedom in determining the design of the house that will be built and we also be more creative while building our own homes.

So should you buy or build a home? Let's check the pros and cons of this situation.

Advantages of building a house on your own land

• Can choose the design according to your taste.
• Can specify the layout and how many rooms you want.
• Can choose the decoration and interior fittings, according to your wishes and desires (kitchen design, etc.).

Disadvantages of building houses on their own land

• There are many technical processes (applying for plan approval, getting a quotation from a contractor) that you need to manage.
• The process of getting approval can be time-consuming.
• In the construction process, there may be changes or problems that require significant additional costs.
• Public facilities depend on the location of your land.
• There is a risk of being deceived by an unqualified contractor, if not careful.

Advantages of buying a new home, sub-sale, or auction

• If you use an agent, all technical matters will be handled by the agent.
• You can select areas that are close to public facilities.
• Save time, no need to wait a long process to get approval to build a house. For new homes, the construction period depends on the agreement with the developer.

Disadvantages of buying a new house sub-sale or auction

• For new homes, there is a risk of development being abandoned if the developer goes out of business.
• For sub-sale houses and auction houses, there is a risk that you will have to pay high repair costs.
• For an auction house, you may have to try dozens of times to win a bid at an affordable price

pic source : google

Anyway, there's always pros and cons in choosing thing in life. But in my experience, building a house according to your wishes is the best thing you can do to satisfy your needs and wants. My father build a house and it is a fun thing to do as the budget for building a house can be varied or adjusted to financial capacity. After all, a house built on our own land allows us to build according to phases. 

Likewise, in this era buying a house is more convenient than building a house as the land is more expensive and hard to buy. If you are young, plan to get your first property first at a young age, because real estate prices will always go up. It will not be affordable if we are tough, especially when we have kids and family to support in the future.

But buying real estate while young in a warm area will make real estate prices soar. So the best thing to do is consult with a real estate agent in your area like Halton Real Estate. They definitely will give you the best quotation and recommendation according to your budget and needs. 

Anyway all the best in finding your dream house and wish me the best too in this journey okay. There is nothing like staying at home for real comfort.

Stay safe everyone!