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:

Build a 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

  • You get to design to your exact specifications
  • You pay for what you want only.
  • Based on your budget you can plan for a phase by phase construction.

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

Buy a house

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

  • You get to see the building before you pay for it
  • There is no waiting time. The process is easy and and relatively quick
  • You are aware of the total budget in advance.

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

Verdict

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!