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Your Dream Home – To Build Or To Buy?

When it comes to making your dream home a reality, there are two ways of going about it, either build it in the location of your choice, with design, specifications, and everything else perfectly in-line with your vision, or buy one that comes as close to your requirements as possible.

Off-late, most buyers prefer the latter, for a relatively stress-free and hassle-free approach to home ownership.

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Make no mistake, the second option is often a compromise for most, in terms of designs, specifications, and even cost. Both building and buying come with various advantages and drawbacks of their own that buyers need to be aware of.

In this article, we provide a brief overview of all the various factors to consider before honing in on the right course of action for your dream home.

Convenience, Time & Effort

The key reason why most people choose to buy is the convenience, and while the process of buying a house in general does involve a number of steps such as applying for financing, engaging a realtor, assessing values, inspections, documentations, and other paperwork, it surely doesn’t compare to the effort involved in building a house from scratch.

While building a house, you will have to go through most of the above-mentioned steps, while also dealing with architects, approvals, HOAs, and multiple contractors for different aspects such as the structure, interiors, landscaping, and more. For anyone holding down a full-time job, this is never workable, and is the reason why most home builders off-late are either rich retirees, or rural landowners.


Home is more than just a place to stay, and as such you’d want your dream home, where you’d probably grow old to reflect your personality. When buying a premade house, you can search extensively for something that perfectly matches your requirements, but you are most likely to ultimately settle on a compromise, either with regards to the location, the size, cost, or some other design related aspects.

Starting with a blank canvas, however, you can turn a large portion of your vision into reality, whether it’s the perfectly manicured lawns, or a private gym, a heated swimming pool, or wooden flooring, you can have your heart’s desire, provided you have sufficient dough to pay for it.

From the initial design stages, everything from the basic design, to the finished textures and colors can be planned accordingly.

Cost & Value

In most cases, it is cheaper to buy an existing house, especially when factoring in the wait time for home construction, and the additional mortgage costs.

This is based on the data compiled by the Nation Association of Home Builders, and while there may be exceptions, it holds true for the most part. This might go against conventional wisdom, but that is mainly due to misconceptions regarding mortgages.

Before you go Googling “How Does A Mortgage Loan Work?” Let us first understand the nuances of cost and value. Not many homeowners even consider this, but while real estate values remain on a perpetual upswing, physical buildings depreciate in value each passing year.

Most houses will face a myriad of maintenance issues, and associated costs as they age, affecting resale value substantially.

This problem is inevitable irrespective of whether you choose to build or buy, but when buying a prebuilt house, you might face additional costs owing to maintenance and upkeep for older houses, and ultimately pay more for a property with significantly lower useful life. When building from scratch, however, you can ensure the best practices, and building materials keeping longevity in mind.

Final Words

While there are pros and cons for each, building a house from scratch is a less preferred option for most people. Innovations in construction, planning, and real estate might bring about changes in this regard, but for the time being, it remains an option only for the rich, or individuals with plenty of time on their hand, and not for middle-class working professionals.

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