Is it smarter financialy and time wise to buy a house than to building one?

Question

Should we build a house or just buy one? Which would cost more, building or buying?

Answer 1

Although buying a home may be a faster way to acquire a home, it is most definitely not financially smarter. A finished product almost always will sell for more than it would cost to build.
I have been in the construction industry for close to 30 years, and can attest to this firsthand.
Unimproved property is relatively inexpensive (unless it's waterfront,or on a golf course or in a planned subdivision) compared to a fully finished land/home package.
If you know someone in the construction business, so much the better. They can obtain permits, use their subs, etc. to get you a finished product , built the way you want for a reasonable amount of money.
It will definitely be worth your time to check it out.

Answer 2

It depends. In most cases building will probably be cheaper. Especially if you wanted a pre-manufactured home. But it may very on the location you are in. On the other hand if you are building the home just as you want it, you might have enough add-ons to raise the cost a lot. What about a house that needs a little fixing up? That might be economical too.

Answer 3

My folks bought a lot to build their retirement home, and the county dragged their feet for years approving the plans. It was very frustrating. They rented a house for the longest time. Finally, they bought another lot in a nearby county and built a nice house.

You could build a house and get a lousy neighbor. Then, you'd go out and buy one.

All in all, I'd build one just the way I wanted it.

Answer 4

I think it is financially better to build one.. BUT.. you would have to have a place to live while the building is going on and that poses a big problem for a lot of people. PLUS the advantage is that it is being built with the newest upgrades(supposedly) and that would save the cost of costly remodeling of a "used" house.

Answer 5

No matter what the builder tells you, it takes at least 3 times as long to build one.

So, if you've got a year or three, build the house of your dreams.

But, I'd suggest buying one that you like, redo the kitchen and/or bath if necessary before you move in.

Answer 6

It relies upon. Are you in a city the place fees went way up interior the 1st place (especially the E or W coast)? Then fees could have extra to drop yet. Or do you reside interior the midwest, the place fees havent long previous up, yet there hasnt been a dramatic loss the two? fees are notably reliable there, and are possibly to proceed to be so. Is you interest in possibility simply by outsourcing or a recession? if so, do you have an emergency fund that would get you via 6 months or so of costs? How long might it take you in looking yet another interest? in case you have sufficient of an emergency fund if your interest disappeared to cover you till you would be able to desire to locate yet another one, then there isnt a great danger. if your interest is very possibly to flow away and that's going to be very complicated for you in looking yet another, and you haven't any longer any mark downs, then there's a great danger. you incredibly need to envision your guy or woman concern very heavily and determine for your self.

Answer 7

In my opinion it would be financially better to buy a ready built home. To have one built you would have to purchase the land first and then pay to have the home built. If you find a ready-built, structurally sound home in a great location, that would be the way to go.

To have one built could create a lot of anxiety and frustration, if it is not completed within the targeted timeframe (which is the case many times) and making sure it is built to specifications or to your complete satisfaction.

Answer 8

building cost more oh and u rock oprah