Building your own house from the ground up provides unique advantages that you can get from no other method of purchasing a home. Of course, there are disadvantages too, but in general, building a house seems to be a better option for overall satisfaction.
The first advantage of building is that you have complete control over the house. You can build it however you want without worrying about limitations set by designers or builders. This means not worrying about designs, layouts, fixtures and fittings, and color schemes. You are free to decorate as per your taste.
For example, if you are building a house for yourself alone, then chances are that there will be no children; therefore, you may wish to design completely different rooms like an entertainment room, bar room, or even library/study room according to your wishes without considering what would suit any other member of your family who won’t be living with you (unless they were helping choose the design).
Secondly, construction is more likely to be cheaper than buying an already built house. You can save a lot of money in this way and use the saved sum in decorating and furnishing your home according to your taste and budget.
Thirdly, you build equity in the house if you do it yourself when compared to purchasing one pre-built home. This means that the value of your house will increase with time when you keep making improvements on it by adding new rooms, building extensions, etc. In contrast, the bought house’s worth remains constant unless continuous repairs are done on its structure (which is quite expensive) or major renovations that may not add much value to its worth after such renovation work has been done.
Building your own house is more exciting than just looking at designs online or hunting for builders/contractors who construct homes according to customers’ requirements. There are numerous benefits of conducting it yourself other than those discussed here. Before deciding whether it’s better to buy an already built home or make one from scratch, you should carefully consider it.
Is it cheaper to build or buy a home?
It is practically impossible to find exact numbers for this question because of many factors that always vary; building costs depend on the complexity and site location, as well as your size, design, and several additional amenities like pools, spas, etc. However, as a general rule (and as with most things in life), it may be true that you can build cheaper than buy it – but we need not say that if you know how to do it right!
How to build equity in a home?
This question deserves its own article, but since the idea is to keep this one brief, we will give you just an essence of what happens when constructing your house (built) from scratch instead of buying one online: eventually (usually within 5-7 years), the market value may increase by x3; then building price that you spend now will be multiplied several times over if you want to sell/purchase another house (and typically this amounts to about $100 per sq ft of house space)
In conclusion, you should think wisely before investing money and time in construction: will construction be more beneficial than buying one? If yes, the questions remain: how to build cheaply, and is it possible to do so without sacrificing house quality? Well, we hope this article has given you at least some hints on what may happen if you decide on the building.
Remember that building is not for everybody. Even if you want to build cheap or on a budget, make sure you think about all the pros and cons first.
Remember, building costs depend on design, site location, size, etc. Therefore numerical figures are not accurate enough – but presented information should give you at least an idea of what’s involved in the building process.
For more information on homebuilding, energy efficient housing, multi-family units and more, please contact McCall Homes today! We serve the Billings, Montana, area with multiple communities featuring family-friendly residencies, recreation, and amenities. Call today to tour one of our beautiful model homes, or browse our available lots if you’re feeling inspired to build your own!