Buy or Build a House

Houses have shrunk in size and increased in value. At the same time, the world has shrunk, and the time in people’s hands has shrunk even further. Now, no one has the time to build a house from scratch. So, the preference is tilting towards purchasing a readymade house i.e. an apartment.

Advantages of building a home

When you buy a plot of land and build a house, you will be making the best of plans and maximize the best use of the space. You can put in as many parking spaces as you prefer and it can have as many storeys as you like. The layout would be suited to your tastes and will be specific to satisfy all your whims and fancies.

Disadvantages of building a home

One major disadvantage of building a home is the lack of support and security that can otherwise be found in apartments. Also, the expense of building a house is much more than that of buying a house. The expense extravaganza is not just in finances but also in time and energy.

Advantages of buying a home

The concept of buying a readymade home is gaining popularity now days as no one wants to take the time and effort it takes to build your own home. Another big advantage buying an apartment is the fact that it is highly secure. You can call out to the watchman or tap the door of your neighbor, in case of any emergency.

Disadvantages of buying a home

When you buy your own house, there are certain disadvantages too, like:

i) A lack of privacy when compared to independent bungalows.

ii) A compromise in size, layout, style or design. For example, the new house that I have purchased carries with it a good rate, lots of amenities, good location, proximity to an ICSE school and lots more such features. But, I did not like the layout. It didn't seem to be a good use of space. Still, I went in for it as I had to compromise somewhere or the other.

iii) Interruptions by neighbors, associations and societies where non-participation would seem rude and arrogant.

Whether you buy a house or build a house, the decision rests upon your own prerogatives. One condition that seems so important to one might not seem so to another. For example, security is my most important condition and thus, I cannot imagine living anywhere other than an apartment. So, decide on your conditions and constraints of time and money before making your decision to buy or build a house.

Archana Sarat is one among the millions of people around the world hoping to bag their dream house during the current recession. Archana writes about her knowledge and experience in the real estate industry at house buying tips, in to help the others find a comprehensive information resource on buying a house.

Buy or Build a house
tips to buy a house