Everyone dreams of a place of their own where they can relax and live a peaceful life. One of the most debatable discussions in the real estate market is: should we build our own house or should we purchase an already existing house?
Each option comes with its own set of advantages and disadvantages. In this article, we will be discussing all these pros and cons so that you can make an informed decision about your home.
Building a House
Building a house means starting everything from scratch. You just have a piece of land to play with. Starting the foundation of your house can be really exciting, especially for people who always wanted a dream house of their own.
It is also a great option for people who have an active imagination and want to design everything on their own.
However, there are some pros and cons of building a house.
Pros of Building a House
There are multiple advantages of building a house. Some of these advantages include:
- The competition for readymade houses is very high, especially for high ranking properties. Contrarily, when you construct your house, the competition gradually decreases.
- One of the biggest advantages of building a house is customization. Unlike ready-made houses, you can customize the details of the house according to your taste and preference. You can easily personalize things like layout, interior, paints, fixtures, and the theme of the house, lights, and even the garden.
For example, building your house also provides the liberty of constructing a basement as many ready-made houses do not come with one. Get to know the cost of basement construction.
- New houses come with the latest building codes. When people build their houses from scratch, they try to make it as modern and efficient as possible. Therefore, it is safe to say that the newer houses are more energy-efficient and more secure. People are now installing the latest smart devices to make your home smart for security and efficiency. Old houses lack these features. Get to know ways to protect your House from a break-in.
- When you build a house, you do not have to worry about maintenance issues and renovation costs for a few years. You do not have to worry about a leaking roof, failed heating system, and blocked drainage system. There are many construction companies that provide high-quality construction services at an affordable price.
Cons of Building a House
Apart from several benefits, building a house is a very complex process. in short, constructing a house comes with cons as well.
- On average, it takes around seven to eight months to construct a house. Therefore, if you are looking for immediate accommodation, building a house might not be possible for you.
- Statistics show that building a house is costlier than buying a house. When you build a house, you might spend on things you do not even need. For instance, expensive tiles or a dirty kitchen. All these accumulate, making construction expensive. Read cost to construct 5 marla, 1 marla, and one kanal house to get estimates of constructing a house. In short, building a house is not an easy task.
- When you purchase a house, the chances of price negotiations are high. This isn’t the case while building a house. You cannot negotiate and bring down the overall cost of the property because there is no third party involved.
Buying an Existing House
Is buying a house worth every penny of your hard-earned money?
If the construction of a new home is not your cup of tea, worry not. There are plenty of houses for sale in Islamabad and Rawalpindi.
Check out Graana.com to know more about the latest properties for sale in your area.
Pros of Buying a House
Buying a house comes with a lot of benefits like:
- Most importantly, buying a house is much easier than building one from scratch. When you construct a house, you need to purchase a piece of land, you have to pick a home design and whatnot. You will need to take into account every tiny detail of the house. This is not the case when you purchase a house because all these details have already been done for you.
- If you do not want to spend endless hours stressing over the construction of a house, consider buying a house. It is less time consuming and less exhaustive. If you are a busy person who does not have time to supervise the construction, you should go for an already made house.
- When you buy a house, the chances to negotiate for a better price tag are high. If you are not good at negotiations, hire an expert real estate agent who can help you in negotiating the best deal possible.
Are you in search of a trustworthy real estate agent? Visit Graana.com, Pakistan’s smartest property portal.
- If you are looking for an immediate residence, buying a house is a feasible option for you. Usually, people move into their new house within a month.
- Statistics have shown that building a house is more budget-friendly and less costly. You save a lot of money while buying a house because you do not spend money on things like raw material, an architect’s fee, etc. Moreover, you can easily upgrade your house according to your budget and preference. Get to know best investment opportunities.
Cons of Buying a House
Yes, building a house is easy and less stressful but it also has some drawback such as:
- There are chances that you will have to face maintenance issues because old houses usually have leakages and other issues. But, to maintain your house, you always have to consult a professional home inspector. They will identify the issues and will save you tons of money.
- Yes, you can upgrade the house but you cannot change it drastically. Hence, you are left with fewer renovation options.
- The house may lack the latest features and technologies such as security systems and energy efficiency systems to save your utility bills. Check your bills online without any hustle.
Get to know who you should hire for remodeling of a house?
So, these were some of the crucial pointers that you should consider before building or buying a house. In the end, the choice solely depends on your personal preference and financial position. Get to know how many feet in one marla
If you have more questions, do not hesitate and connect with us.