Building a House ? Pros and Cons

Building a House ? Pros and Cons

Building a house can be the most gratifying experience in your life.  It is probably the biggest expense you will incur in your lifetime.  However, if it does not turn out the way you expected, it could end up as being the biggest frustration and disappointment in your life as well.  It is therefore important that all measures be taken to ensure that things are done the right way.

When deciding whether to build your own house from scratch, or to buy an existing resale unit, you have to weigh the advantages and disadvantages that go with each option.  You have to know which the right option for you is.  A lot of details have to be considered.

Advantages of Building Your Own House

You can have the design customized according to your specific needs and wants.  Although it is best that everything is finalized during the planning and design phase, you can still provide inputs even during the actual construction.  However, some last-minute changes may add up to the cost.
You can be sure that all the materials and components of the house are new and of the latest design if you so desire.  You will have a say on everything that goes into your house.
Usually, new houses are built on areas that are currently expanding. Very rarely are they built on declining areas.  You can therefore be sure that the value of your home will appreciate.
Especially if you are involved from the start to the end, it is more gratifying to see the home of your dreams come into fruition.

Disadvantages of Building Your Own House

It is usually more expensive to build a new home than to purchase a resale or an existing home.  In addition, you may end up spending more than what you expected and prepared for.
It takes a longer time to build a new house than to repair a purchased unit.  Likewise, unforeseen construction delays may also happen.
Newly constructed structures often times are not perfect and some reworks may have to be done.  These can delay your target date to move in.
There are additional costs that may be incurred even after you move in such as window treatments, landscaping, house decorations, and many others.
Finding the right location, getting the services of a competent contractor, and securing a construction loan can sometimes complicate the process of buying a new house.