Should You Buy A Home Or Build It?

Written by: Tasnia Tajin

A home is one of life’s biggest investment decisions. Most apartment buyers spend a lot of time and energy while looking for apartments for sale or building their own home. Also it involves a lot of considerations like location, price, local real estate market conditions as well as buyer’s own preferred apartment features and amenities. So it remains with the apartment buyer to decide whether they want to build own home vs buy a home from a real estate company. Each decision has its own pros and cons. Here is a take on both sides:

Buying from a developer company

The biggest reason to buy from a developer company rather than build your own home is convenience. Once you have arranged the finances of buying a home, all you have to do is look for apartments and select one. Granted, it is not as simple as that but compared to building your own home through hiring contractors, constantly inspecting construction quality, buying your home is a lot hassle free.

When you buy from a developer company, you save valuable time which you can dedicate to other areas of your life such as family, business, kids.  Therefore, buying is suitable for those of you who are on a tight schedule juggling between work and family. You also save money as developer companies have their own channel of suppliers, contractors who will provide the best value for your product.

Another advantage to buying a home from a developer company is that if you choose a reputed developer company, you can get home loan easily because of brand value in the market. And if you choose to resell the home later, you can also get a higher ROI.

However, the disadvantage is that although you will have a lot of options to choose your apartment, it might not be exactly what you want. Also the emotional attachment, when you move into your home, will be less initially since you were not involved in the whole home building process. However, as for getting the home you want, many developer companies do allow to a certain degree the option of apartment customization with an extra cost.

Building your own home

The biggest advantage of building your own home is that you get what you want. You can design your home as you wish- whether it is an extravagant feature like a bathtub within a few square footage area or a spacious landscaped rooftop garden, you can be the designer of your own home.  You will also feel a sense of belonging when your home is completed because you have given your time and sweat watching your home being built from the scratch.

However, the disadvantage is that if you do not have a lot of known contacts, you might get swindled in terms of quality of materials used in the construction. If the contractors are not reliable, you might have to wait a long time before the project is completed. Contractors may also charge you more in the later phases and the project may go over your budget.
Owning a home is undoubtedly a big accomplishment in life. Whether you build it yourself of buy from a real estate company, your home is yours. Before you decide, look at your own life’s circumstances, your wants and demands and then decide to buy or build your own home.