31 Jul Should You Buy Or Build Your Home?
A home is arguably the single largest investment a person makes in their lifetime. Apart from money, a lot of time and energy is spent on finding or building the ‘ideal home’. Myriad factors are weighed in during the house hunt, such as property tax, location, in-vogue designs, construction fees, the price of materials to be used, and resale value. Most of the time, people begin house ownership planning several years before the actual purchase. Yet, when the time comes, numerous needs and wants to pop up to satiate one’s quest of having a house of their own. There will be features a buyer would absolutely have to have and then there would be things a buyer would want but could do without. Such is the enormity of the task at hand, that after years of planning, you are still left with a lot of dilemmas to address. And the biggest decision you would need to make is whether to shop for a ready made home or build a new one. If you chose the former option, expect problems in the long run and in case you resort to the latter, be prepared for issues like delayed concrete delivery Melbourne and unfinished paint. In short, each path has its pros and cons. Here is a look at both sides:
Buying an Existing Home
Ready-made houses come with varying degrees of advantages and disadvantages:
There are two main advantages of finding an existing home: convenience and cost. Once you have put your previous property on sale, you can shop around and look for homes in the area of your choosing and at the time of your convenience. With a little help from your property dealer, you will be able to complete the whole process pretty quickly after finalising the paperwork and streamlining other important requirements.
It has also been observed that existing homes turn out to be cheaper than the constructed structures. After selecting your prospective home, you can even start calculating the total cost of purchasing right away.
The biggest disadvantage of buying an existing home is that you won’t get exactly what you want. You may want an extra bathroom outside for the gatekeepers; you may not be in love with the patio lawn; you may wish there were an extra bedroom or the floor was more accommodative of heavy furniture; the kitchen may turn out to be so small that there isn’t any room for expansion left. On top of it, the concrete delivery and appliance might be of a lower standard, which should be a big concern anyway. By the end of the day, such little exasperating improvements may end up inflating the overall cost of the house.
Building a Home
On the flip side, building a home is an entirely different experience with certain benefits as well as disadvantages:
If you do resort to this option, you will, in all likelihood, get the desired results. You can erect as many pillars as you want, you can custom-design the floor to suit your furniture, your dining room’s location will not be irritating and you will have the freedom to choose the number of bathrooms in your house. The biggest advantage of construction is that you will be sure about the material used. Whether it is concrete delivery or bricks designs, your presence on the site will be deterring factors for the builders, preventing them from deploying equipment of inferior quality.
Building a new home, as an option, does not offer the same perks as buying an existing house does. In addition to putting your existing house on sale, you will be required to consume a lot of time, energy and money on locating the land, outsourcing the services of an architect, getting the property dealer on board, and, above all, finding the right construction company.
The bottom line is that neither of the two options guarantees complete satisfaction. Even if you do find an existing home with an ideal location and adequate facilities, you may end up wanting to build your own house to get exactly what you were looking for in the first place. On the contrary, it is quite possible that you are holding regrets even after shifting into your custom-built home. In either case, it is important that you work with a qualified construction company or the real estate agent to make the whole process stress-free.