Posted on 12th May 2023
Home is an abode that offers comfort and a sense of security. Many people in this world strive towards acquiring a safe haven for themselves and their families to stay in. That is why a house is considered one of the greatest lifetime achievements for many people.
When it comes to owning a house, there are two options available. Either you can buy a house that is already built or construct one from scratch. Although it may seem like a personal preference, there are some advantages and disadvantages to both.
In this article, we shall discuss the pros and cons of buying a house and building one so that you can choose something that is favorable to you.
Building a home from scratch involves buying a plot of land and then going for building a home on it. But buying an existing home avoids all these difficulties.
If you have got the money, you can instantly become an owner of a beautiful house. While the building can take months to complete, you can register a house in your name within a few days. So, the primary advantage of buying a house is it is way quicker and hassle-free.
The next big advantage is that you can choose a sophisticated one to your liking. This also means that you can choose a home in a locality you like, and you have the freedom to choose a model of the house that suits you.
Due to high competition from real estate builders, there are many projects around the city, and you can choose whichever is best suited for you. You don’t have to go through the difficulties of managing the construction.
Considering the current economic situation of the country, all the prices are on the rise. The cost of every construction material has gone up and it seems impossible to finish constructing a house within the budget allocated at the start of the project.
But, when you go for buying a house, you don’t have to deal with all those financial difficulties. You can pick the property suitable for your budget and own it right away. Otherwise, you have to bear the extra expenses that may occur during the construction.
Even though prebuilt houses may offer many features, some may not be satisfied with one or more aspects of it. They may feel that it lacks a personal touch and want something unique.
This may not be available in a built house and in such instances, you have to go for constructing your own house. Although the chances for this to occur are less, you can find some people to have an interest in constructing a house from scratch as per their preferences.
Since builders place a profit on the properties they are selling, you may find the houses to be slightly overpriced. Sometimes they might not come under your budget, and it may be really difficult to choose one that is affordable.
When you go for the budget ones, you may not find the amenities and luxury. At times it may seem impossible to find a house that has all your preferences within your budget.
So, finding an affordable house might be a long process, and takes time to get the right one.
In a house that is already built, you cannot perform many customizations. You might find it good in many aspects and want to change some minor things. But the construction of the house might not allow it.
Not every buyer out there wants to customize the house. But most of the users like to have some modifications and the technical aspect of the house may not be suitable for it.
So, you have to find out a better one and it may take a very long time to get a good one to your liking.
The primary advantage of building a house is that you can design it as per your preferences. You can do whatever with it and however you like it.
You have many tools and designers to work out the best possible architecture for your house. With their help, you can get an amazing house built from scratch.
You can also customize the house in whichever way you want even during the middle of construction. You have the freedom to add features and facilities which makes it a greater advantage.
When you are constructing the house, you will not make any compromises on the building quality. You have the freedom to choose the materials for construction and you can choose the best one in the market.
You will have the guarantee that the house you have built will withstand for years and can pass over generations. This might not be the case with prebuilt houses.
When building a house from the basement, you can have a satisfactory feeling at the completion of the project. It will be closer to your heart, and you can feel proud to accomplish something that stands for years to come.
Since you are going to construct, you can choose each and every aspect of the building. This makes it more unique and has a personal touch to it.
The major disadvantage is the cost. First of all, you will need land to build a house. If you don’t have one, then you might have to buy one which is a big expense if you consider the registration charges for the land.
If you have land and proceed with construction, the cost you had estimated at the start of construction may not be enough when you finish it. Due to the fluctuations in the price of the materials, you will always need some extra cash in hand to complete the project.
Another disadvantage is the duration. You have to wait for at least six months to complete the construction. In this period, many things can change, and you have to safeguard the money solely for the construction purpose which may not be possible for everyone.
When you get down to construction, you have to get approval to build a house and you have to spend money for those formalities.
You have to get a plan designed by an engineer and get it approved by the township and planning department.
You might have to personally do all these formalities to proceed with the construction and get the property tax approved by the government.
These are the different pros and cons of both constructing a house and buying one. By analyzing these, you may conclude that buying a house is far better and cost-effective than dealing with the difficulties of construction. So, choose wisely and become an owner of a beautiful house right now.