For an adult, finally having the ability to get your own house is a huge achievement. A house of your own is a great investment. Having your own property will be very beneficial for your future, whether you are planning to start a family of your own or wanting to remain a bachelor (or bachelorette).
In acquiring your own property, you have two options: you either buy an existing house or have one built from the ground up.
Which option is best suited for you?
Both the options of buying and building a home have their own pros and cons. Knowing the pros and cons of each will help you decide which one is more suitable for you.
Buying a Home
Has generally lower upfront costs than building a home
You can move in sooner
Most of the time, greenery, trees, and bushes are already established in the garden or lawn
May come in some rooms, spaces, or items you don’t really like or need
Might have outdated building materials or fixtures
May need more maintenance and can be prone to frequent repair
Buying existing homes, particularly older ones might have asbestos or mold presence
Building a Home
You might actually get the house you have always wanted, down to every little detail
You can buy sturdier and improved building materials that are more durable than the building materials used in the construction of some of the existing homes.
Newly built homes are usually less prone to reparation compared to older, existing homes.
You can have confidence that the construction materials that would be used in the construction are safe
Typically more expensive than buying a new home
You have to wait for a longer time for your home to be completed before you can move in
If you dream of having full-grown plants or trees in your garden, you would need to wait years for that to happen