Is it better to buy a house or build a house?
If it's your first home or there's a move in the foreseeable future, go with an already built home. Building is nerve racking and a giant hassle. Worth it if it's going to be the home you grow old in, not worth it for a place you'll move from in a few years. My husband and I have just moved into the house that we've built. Started plans in June 2007, LOL. It's a very specialised custom place, though, so if you bought generic plans and weather or other problems didn't interfere, it might not take more than 3-5 months. Pro's of an already built place: - No dealing with contractors - No annoyed neighbors - Everythings already done for you - Less time waiting to move in Con's of an already built place: - You don't get much customization - The old owners may not be entirely honest, and home inspections don't pick up on everything - If it's part of a housing tract, generally it's of very poor quality and you may get more than you bargained for with future repairs because it's cheaply built and falls apart easily Pro's of a custom/building your own: - You get to customize more - Sometimes cheaper - Pride in the journey and seeing a project from start to finish - Quality control and getting to know contractors, who (if they're good ones) will usually try to get you the best quality and the best fit for your life - Better energy efficiency in customs, as a general rule Con's of custom/building: - Contractors aren't always honest, reliable or on time - Can get delayed by bad weather and unexpected land features, among other things - Can be costly (depending on the level of customisation you want, the size of the home and what quality contractors you use, and of course the initial cost of the land + area taxes) - Waiting, waiting, waiting
Is it cheaper to custom build a house on your own lot or buy the same house from a contractor who built it himself?
When a contractor builds a house himself for eventual re-sale we call that a “spec” house. It is not necessarily a good thing. In a down market if the house has sat there a while then yes of course you may get a good deal. But BEWARE of builders who have a constant flow of spec homes for sale. I live in Asheville NC and I see builders calling themselves “green builders” and they always have spec homes for sale. They really run up the price of housing in the community - which is not good for the home buyer - and really their primarily client is their investor - NOT the potential buyer. Investors fund these homes to make money - it’s a business - it’s not about the future homeowner at all. They want to build it as cheap as they can (to their certain “standard”) and get the maximum return for their investor, not the maximum house for the future owner. We know of one very popular “green builder” in Asheville that for a 1% premium for the home (about $3,500) they could have had a home that was about 100% more energy efficient in cold weather, it would have been significantly stronger and also safer in a fire situation, and the builder passed on our better system because - as he told me directly - “I got investors - that’s money in our pocket”. He knew that clients mostly look at finish details, kitchens & bathrooms and they don’t care about what’s in the walls.If you choose to build your house yourself, odds are you will get a better home for less money IF you can find a builder that will work with you. That’s kind of the key. There are lots of great builders out there who are open to working for the client, not their investor, you just have to find them.
Is it cheaper to buy an empty land & build house yourself or buy an existing one?
Its cheaper to purchase an existing house vs buying a lot and building. Lots of red tape, and building codes to follow, they sometimes stump a contractor, depending on the inspectors. If you wish to do some work on the side, buy an older run down home, and remodel it, in your spare time. The older run down one, will be from $75,000.00 to $200,000.00 cheaper. Don`t loose sight of the fact that real estate taxes are 1% of the purchase price per year. The amount you spend on the house after you buy it does not affect the amt. of taxes.
Why can't I build a house on my own land in police state america .?
In the middle of ten acres I own I was constructing a house when the state stopped by and asked to see my building permit . I said I have none and get off my land . He said stop working and I said leave . He got on a radio and in minutes the police where there and ordered me to stop or I would be arrested . On my own land working for my own benefit it seems the state takes a major interest and can control what I do . I said since I must stop working on the house I will clean my shot gun leaning next to me and the police said do not move or we will shoot . SO I can not work on my house or clean my gun . What is it I can do in police state america anymore . If i do not do it in secret or private some states have sodomy laws that prevent me from having sex in the manner I might want . You might be happy in this cage called America and enjoy meddling in others affairs but freedom ended the day property taxes where enacted and its only gotten worse .
Is building your own house cheaper than to buy one?
One of my friends charges $400 a square foot labor and materials to build high-end houses. I as a value Builder can build the same quality house for about $120 a square foot labor and materials. So it depends on who you hire whether or not it’s cheaper to build your own house or buy one.Some builders pay material markups were others don’t and negotiate fixed prices for labor. By taking away the risk of materials you can negotiate weekly rate with a lot of skilled tradesmen for labor only. Some builders pay electricians $100 an hour to drill holes while others pay carpenter which are $25 an hour to drill the same holes. Same goes with the plumber.Some builders use coupons to purchase materials. In general terms Home Depot will honor a Lowes coupon for example.Generally it is cheaper to build your own house compared to buying a house. When you buy house the builder is going to want his profit and taxes.I just heard of an instance where a former jail that cost the government over $250 a square foot to build in the 80’s is being sold for $20 a square foot. So if you buy that and spend a few hundred thousand dollars remodeling it You would have a monster house for half the price.Yhe point is that if you do things unconventionally and think outside the box you can build for far less
Building your own house. Do you pay a mortgage?
My boyfriend and I are deciding if we wanna buy a house or build our very own. and I just have a question that im confused on. when building ur own house from the bottom to the top. you pay for the property tax right? and do u pay for a mortgage??? or no? our dream house is still a year or two away. so we're not in a rush.