A+ R A-

Building Your Own House: Will It Cost You More Than It's Worth?

Most people want to get on the property ladder these days, but the first thing they think of is purchasing one. An option gaining more popularity these days is building one. When you choose to build your own home, you can make it as big or as small as you like (some people choose to create a micro-home!) and you can even go ‘off grid’ if that suits you better. That means generating your own electricity, and not having to rely on anyone or anything to keep things up and running at home.

However, building your own home isn’t for everybody. Will it cost you more than it’s worth? Read on to find out.

Buying Your Own Home

Let’s talk a little about buying your own home first. Convenience is the main reason people go for this option. The home is ready made, and all you have to do is pick the one for you, get the money, make an offer, and you could move in before you know it. There are multiple costs and things to remember, but in general it’s still easier than building your own.

But how important is convenience to you, especially when you compare it to customization? You may want to be in a specific neighborhood, or near family/friends - in that case, it might be best to pick a ready made home. However, you rarely get exactly what you want with a ready-made home.

Old homes rarely meet the needs of buyers. You’ll probably want to remodel your home at some point, so that’s worth bearing in mind.

Building A Home

Building a home comes with many responsibilities. You have to find the land, and it’s probably not going to be in an existing place around other homes. You’ll also need to find a qualified professional to design your home and somebody to build it, such as Dix Gardner. If the idea of finally living in your perfect home excites you, then it can be a good choice. It’s worth bearing in mind that building a home is probably better for your health. Toxic materials included in old homes can be very damaging for your health. A brand new home will also require less repairs and less maintenance.

Don’t forget, the emotional satisfaction from living in a home you’ve built from scratch will likely be unbeatable.

The Time And Money Investment

We can’t deny that building a house will often be higher in costs, and it’ll take much longer than buying one. Then there’s the chance that something will go wrong or the unexpected will happen and you’ll be met with more costs, and it won’t be finished on time. Trying to get a lump sum contract will be better for you, so you don’t have to worry about more costs. Remember that anything unusual will cost more, but you can ask for a list of cheaper alternatives in the beginning if cost is a concern for you.

The bottom line is, it’s down to you to decide what holds the most value for you: moving into a less than perfect home quickly, or spending more and eventually living in your ideal home?