There are basically 2 broad options to consider in arriving at the property you wish to own. On one hand is the option to buy a ready-built property and on the other hand is the option of buying a piece of land to building on from scratch. Below are salient points to consider when deciding whether to build or buy a property:
Timing/Convenience
Building a house from scratch takes time. Depending on how fast the contractor works, building a house may take up to a year, many more even. Buying a house on the other hand may be a mere three or four step process, which within less than a month will get you what you want. If you are not cut out for the hassles that building a house from scratch brings, it might be wiser to buy. Needless to say buying will be better if you’re in a hurry to move into a new place. Moreover, a house may already be furnished when you buy it, so you do not need to worry about furnishing.
Environment
A bought house will more often than not be in an already urbanized and established neighbourhood or street. Lands are more available in less developed, or developing, areas. Thus, you may want to consider the type of neighbourhood you would like to live in, city or suburb, before making a decision.
Taste
When you build a house, you’re more likely to get what you really want. It’s a function of giving instructions to the architects and contractors.. But this is not necessarily so when you buy a ready-built house as you have not been part of the design and building process. You almost always will not get every specification you desire and you may have to remodel some features to suite your taste and demand.
