It’s a common question many of us ask when we are planning to get a new home - “Is it better to buy a house or build a house?”With a specific location, budget and wishlist in mind this is a dilemma that each one of us goes through.
The good thing is the majority of the clients that have contacted us already had a clearly defined requirement set on what their dream home should be like - wants, must-haves, nice-to-haves and can’t-stands.
Let's have a quick check on both these options.
Case of building a new House:
Building a new home comes with lots of benefits. You get to personalise the details when you are starting from scratch - the layouts, floorings, color combinations, lightings, door types etc. and you have an opportunity to save money as these can be decided based on your budget. Basically
Some people do consider this as stressful as they are not aware of the construction methodologies and how to get the best architects / builders for their house.
If you are one among these then the best way to start is to talk with experts / friends and search the internet to gather as much information as possible. This will also ensure that you are not blindsided with extra costs
Case of Ready to Occupy Homes
Even though this also involves multiple steps like financing, viewing homes, negotiations etc the convenience of being able to move in right away makes most of the customers to opt for this rather than building one.
In the case of ready to move in house
Definitely, there are pros and cons for both these options, but it’s worth putting in your time and efforts before taking the final decision
THE FINAL VERDICT
Well every market is different and every buyer's needs are different. So over the years what we understood is there isn't a “perfect” or “standard” answer for this. Each approach has its merits and making the decision to build or buy can be influenced by a number of parameters like individual choices, time frame and preferences.
We discuss with our clients, prioritise their needs and based on their budget, location preference and timeline advise them on the best available options.
Take your time and weigh your options. Do contact us in case you are in a dilemma and let's have a quick chat!