Building a house might be better than buying one.

By / Published April 17, 2015 | 7:33 am

Home-buying process is an exciting time for many people. As you start to look at homes, you might be wondering “is it cheaper to build or buy a house”?

Building a new house has its advantages over buying an already existing house. Building your dream house adds sentimental value and more advantages in the long run. When you build a home you can have everything your way, both structurally and design-wise. You start afresh, you do not have to deal with décor ideas of the previous owner.

When building a house you save a lot of money. This is because you will build a house that only suits your needs and not spend extra funds redecorating or repairing a home after buying it.

You participate actively when building your own house from the beginning to end and since you are working with the builder directly, you can negotiate several thousand worth of savings.

Self-building gives you the option of using eco-friendly materials that will save money while conserving the environment.

Building your own house also comes with several drawbacks.

Building requires time, several months or a few years to complete. This means you have to pay for another temporary place as you wait for construction to finish. Cost is also a huge factor as it is almost always more expensive per square foot to build your home than it is to buy an existing home. There might be a budget overrun from unforeseen circumstances on the construction project, forcing you to pay for them.

The agreement between you and the builder might limit your rights incase an issue arises with the building process and you need to take the builder to court. Make sure to read any documentation very carefully and consult an attorney in your state for legal advice if necessary. Sometimes owning a home ties you to your community, making it more difficult to suddenly pick up and leave a location.

As much as building a house may sound like a lot of work the thought of having your own space with your own personal style means a lot to some people, a place where you won’t have to worry where to put previous owner left belongings and that feeling of satisfaction for being part of something of your own like building a house.

Save up and build a paradise for yourself!