To Buy or To Build House

Even with countless viewing of available houses for sale, you still can't get closer to finding your dream house than the moment you began. Perhaps opting to construct your own home the way you want is the way to go.

Definitely, through building your own home all your needs will completely be fulfilled, but remember the process of building your prospect house has its fair share of challenges; thus it is important that you way both the merits and demerits of building a house versus buying before you take the plunge.
In your lifetime, this may be the biggest purchase you will ever make. Therefore, you need to way your options well. Before you get started, as you check out and evaluate the potential real estate agents, you will also need to vet the builders and architects. Before you sign with anyone, it's important to talk with previous clients who bought a house. Also, check references from those who choose to build their houses.
As you get started, have a look at these advantages and disadvantages of buying a house vs. those of building a house.
Advantages of Buying Existing Home

1. Convenient

One of the biggest advantages of buying an existing home is the quick turnaround time. If you compare the time taken to build a home from scratch and the overall time taken to begin the search process to owning that home, the time taken in the buying process of a ready-made house is significantly lower. Buying an existing house can take even less than two weeks. You only need to shop around, find the one you like, do your homework on the house and make an offer. If you have very little time, this is the best option.

• It is Cheaper 🙆

Based on the housing market you are looking for, sometimes it's cheaper to buy an existing home. Some area which may have been affected by the housing crises may be having the best deals on the houses.

• Preferred Location

You have a better possibility of getting a house in your preferred location. Constructing your own house means you must ensure that your preferred location has an available land you can make a purchase. In case there is no available land, it means you will have to settle for an alternative location. Besides, there is a broader variety of choices of where to purchase a house compared to places with available land for sale.

• Established Neighborhood

In many cases, areas with available land for construction are in new subdivisions mostly at the end of suburbs. Sometimes, the newer neighborhoods are not in the most attractive areas and have no basic amenities such as good schools, hospitals, etc. Buying an already build house means the place has already developed and it has all the required facilities.

• Ready Houses To Move In

Once you choose to purchase an existing home, you are likely to get a house you can readily move into. You can even get a house with everything in it, for example, an expatriate who may be moving back to their country or a retiree who want to go back to the rural areas. Of course, there is a possibility of renovating the house later to suit your preferences or those of your family.
Disadvantages of Buying an Existing Home

1. You May Not Get What You Want

Even though there are many benefits of purchasing an existing home, unluckily, you can never have everything you want. For instance, if you get an older affordable home, the little luxuries you want like luxurious bathroom style or the latest technology may not be there. Worst still, due to a variety of reasons, sometimes the additions and renovations you might wish make to your new house may not be possible.

• Changes May End UP Costing More

Changing what you don't like in your new found property may end up costing you more compared to rebuilding. Before you settle on purchasing an existing home, make sure you calculate the cost implications of renovating. This includes the cost of hiring the job specialist such as engineer, contractor and quantity surveyors.

• You Must Compromise

Another disadvantage of purchasing an existing home is that there is a higher possibility of you compromising. You may get your preferred perfect neighborhood, but the house may not be your preference or vice versa. Or else, you can get a house with a big table room and a tiny kitchen. Thus, depending on what you prefer, try also to be open-minded so that you may not be frustrated with the whole process.

• Unseen Problems With the New Home

If not thoroughly inspected, an already built home may have hidden problems. It could be built on public land or encroach a government land. This can make you lose your property or cost you more on reconstruction. Therefore before you make your payment, ensure you do a thorough inspection of your prospect house.

• Buying someone's Problem

Even though you may thoroughly check everything out before buying the house, there is still a possibility that it might develop some few issues once you move in. Of course, this can happen even with new construction. Nevertheless, an already built house will require more replacements and renovations compared with building a new home.
Advantages of Building A Home

1. You Get What You Want

The biggest advantages of constructing your house are that everything will be customized specifically according to your preferences, interests, tastes, and specifications. Every dream you have will be turned into reality. Whether it's a new design or a modern finishing you saw in a property magazine, you will have it all done for you. Your house will have your touch.

• Little Maintenance Will Be Required

A newly constructed house will require little maintenance once you move in. Given that everything is new, it will save a lot of costs that keep on popping up trying to repair broken fittings and fixtures.

• Easier To Re-sell

In case you want to resell a new house, assuming your house is in a desirable area, it will be more appealing to a potential buyer comparing to an old house. That said, in some areas, it might be hard to recoup the entire construction cost when reselling especially if you resell too soon.

• You Can Incorporate New/Latest Technology

When you built a new home, you can design and incorporate the latest technology like alarm system, UPVC windows, CCTV, alarm system and others. Since you will use the newest materials, you will be able to use energy efficient equipment's and appliances translating to lower utility bills. 

• New House is Much Healthier

Building a new house is much better since you have an option to build using better materials that are less toxic than those used in an odder house. You can choose lumber that is less reclaimed, toxic natural materials, or low VOC paint for your home. Also, a new home won't have any toxic dangers such as dangerous substances such as lead paints or asbestos, or alleges and molds.

• Lots Of Assurances

With the new constructions, almost everything appliances will be covered by different warranties for the first few years. The ready-made house may be constructed using substandard materials you wouldn't have approved of if you had a choice. But through buying a parcel of land and constructing your house from scratch, you go for the quality materials available
Better still the inspectors will ensure that everything is done to meet local building code required.

• Preferred Location

If you opt for building your house, you have the upper hand at buying land in your preferred area. You will be contented forever since your heart will be in an area you opt to zoom in.

• You Move At Your Own Pace

Since you will be undertaking one of the crucial projects in your entire life, you will get to enjoy every step along the way- a brick at a time. With an old house, there are possibilities that some aspects such as interior fitting or wardrobes may be made using old stacks of sandpapers which may have been hoodwinked with varnishes to look new. You can avoid such pitfalls by doing your houses.

• You Choose your Architectural design

Every young person has an imaginary image of their dream house they wish to build once the right time comes. One way of making this dream a reality is by purchasing a piece of land and getting the best architect to incorporate the classic design in line with your dream.
Disadvantages of Building Your Home

1. You Spend Much Of Time

Compared to buying an existing home, building a new home will take you a long time. You will have to deal with construction issues, frequent inspections and unnecessary delays due to bad weather or delivery issues. Also, you will have to be committed throughout the process. However you can decide to hire a project manager, but it's advisable to visit the construction site frequently.

• More Expenses

First, you will have to acquire land where you will build a new home. And before you enter a purchase agreement, you will have to deal with the whole process of acquiring land such as title searches, verification process, etc.

• Limitations

You may experience limitation due to financial constraints when building your house. Thus, you will only have to adopt a style that matches the amount of money you have. Also, sometimes it’s hard to acquire land in a perfect location such as near the road and basic amenities.

• Lack Of Skilled Personnel

Getting a competent contractor and skilled workers can be a real hassle. According to a report released by NCA, only 30% of construction workers are qualified in Kenya; the rest are semi-skilled. It's no wonder there is much building that is collapsing now and then. Thus you will need to search for an NCA approved contractor to oversee the construction process.
Bottom Line
As you have seen, building your home or buying an already built house will depend on the whole lots of factors. The type of home and the size you are interested in will play a big part together with the location you will choose. Each one of your choices will have its challenges and advantages. Thus you will have to weigh the pros and cons of every option. You need to ensure you have acquired all the relevant information and you have made an informed decision.

In either case, working with either an experienced and a qualified professional real estate agent or a general contractor will help you relax knowing that you have someone to help you make the right decision. Whether building or buying, the best decision you can make is choosing an informed one.