Is it better & cheaper to build your own house? or buy one already built?
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we have land, and we've been looking at houses for the last 3 yrs, we haven't found a house we really really feel like is the house for us, we like stuff about some of them, but none of them feel like our house, or they don't have what we want, so the agent told us we would probably have to settle and then build on later well my dad and my brother are both good with their hands, my dad and my brother helped my uncle build his own house 5 yrs ago, we have 10 acres that we own, so i'm wondering if it's better in the long run to build our own house or is it cheaper to buy one and then build on later? what do you think? it's our first house, we have 15k to put down on a house or building our own, but if we build our own, we can take our time and do it a little at a time, and our parents have all said they will pitch in stuff, and my husband can help too, so what do you think? in the long run is it cheaper to build your own house? or is it cheaper to just buy one already built?
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Answer:
i have a friend that is building her own house, and they just buy a little at a time, like concrete on sale, etc, and they they build it a little at a time, and they put a certain amount in the bank every pay check to go towards the house, they've been building it for 5 yrs, a big log cabin home, and they are almost done, it will be done by next spring, and he doesn't make that much money, he only makes about 7$ an hour, and she only works part time so....
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Other answers
when building your own you get just what you want so does it matter? No one has to just settle if they have the cash to build or financing to do the job. The land is or can be the down payment
golferwhoworks
existing homes are much cheaper in this market. 20-30% premium for building home right now.
David Z
well if you do most of the work yourself, and if you use the land as the down payment for the loan, you get exactly what you want and it's cheaper in the long run than building on.
Knowledge talks, wisdom listens
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