does it cost more to buy or build a house?

Question

a friend of mine's parents want to build a house but we dont know if its cheaper then buying. can you guys help? were confused and dont know which is cheaper

Answer 1

Generally speaking, it is less expensive to purchase existing than construct new.

The other side of that is everything in a constructed house is NEW, while that in an existing will have varying levels of wear and usage.

Right now the real estate market is soft, and there are some excellent deals to be had. You won't find much of that in new construction, since such a purchase has a 'fixed cost" to the builder, and haggling is generally minimal.

Answer 2

I buy and sell a couple of houses each year on speculation. That includes building when profitable. Generally speaking, it is a wash. The cost of a building a new house and landscaping is about the same as buying a comparable existing house. Excepting the occasional good buy on a building lot or house seller in financial trouble. The advantage of buying a new house is you get what you want and the fixtures, carpet, etc. are new and won't need replacing. The advantage of buying an existing house is you can move in right away, and the lawn, flowers, etc. are done.

Answer 3

That would depend on the size of the house they are looking to buy or build. In most cases it is cheaper to build your home than to buy one already done.

Answer 4

Typically it's cheaper to buy. However, you just what you want when you build.

Answer 5

well that all depends where you are buying or building, when we bought our home in orange county it was waaaay more expensive then when we built our home in the desert.. so it can vary.. found some great buyers information that should help
http://www.timmdelaney.com/PageManager/default.aspx/PageID=2041211