Nothing is more exciting than being in a position to be able to afford your dream home. Even more exciting is if this happens to be your first home. Whether or not it’s your first home, you should definitely give it your best shot. Trust me, you won’t regret it.
My first home I owned was actually a two-bedroom house that I had completely remodeled and added some more rooms to. It was exciting times but I would definitely make some changes if I could relive that time.
The second home I owned was one I bought ‘ready-made’ after I visited and had a look around twice. I was in love with it and was happy with the ideas swirling around in my head about how to personalise it and make it my own comfy living space.
Many people are confused about whether to buy or build their dream homes once they are ready. You may have specific features in mind, but deciding whether to buy or build can be difficult. It isn’t very easy to find a home with everything you want.
It is more hectic if you have a tight budget and a specific location in mind. You may be tempted to build your dream home from scratch, but it is costly and time-consuming. You must weigh the pros and cons of the two options and choose the one that is favorable to you.
If you are still conflicted, read on how to know whether to build or buy your dream home.
Consult an Expert
Consult an expert if you are unsure about the option to pick. Visit architecture firms to help design your dream home. A professional will advise you based on your needs, budget, and timeline.
It is always nice to get some help and guidance from the expert. This sometimes helps you to avoid major problems down the line.
Advantages of Building a Home
The good thing about building a house is that you can do it how you want to, provided you have the money. Moreover, you get to choose all the materials to be used and can supervise the building process. There are strict building codes that some existing homes don’t follow. Building a house enables you to abide by the rules and avoid closure.
Furthermore, it allows you to play a role in creating your dream home. You will value it more because you sacrificed your time and energy to see its completion. New homes don’t need repair and maintenance, and it will take time before you ever spend money on replacing things in the house.
Disadvantages of Building a Home
Time-consuming- If you are in need of a house quickly, the building is not the best option. You have to consult experts to give you proper design. It could take months or years before the house is done. Prices fluctuate, and you may buy building materials higher than anticipated. Moreover, it involves a lot of decision-making and availability.
Advantages of Buying a Home
It’s quick to buy a house and move in. You will find a beautiful landscape compared to the building, which takes time before trees grow. You can negotiate with the seller and buy the house at a reasonable price.
Moreover, there is no pressure for an upgrade, and you can do it while you live there.
Disadvantages of Buying a Home
You can spend a lot of money on repairs and maintenance. The seller may lie to you about the condition of the house. Some homeowners are manipulative and do everything to get you to buy the house.
You will only realize how worthless the house is once you move in. Furthermore, you may not get what you want and settle for poor quality.
It is good to speak with the neighbours who may point out any problems which you might not even suspect. It’s good to be neighborly.
Don’t rush into buying or building your dream home. Instead, consider important factors such as cost, time, and urgency to decide. You can buy a house and do an affordable bathroom makeover if that is what you want. Ensure that you are in the best financial position to choose between the two. Wanting to buy or build a house does not mean that you are ready.
If you do have any other tips for us, don’t hesitate to share it with us in the comments section below.