30 August 2017

Forget Buying the Dream, Build It Instead

We are all eager to find our dream place to live. The problem is that most people think the best way to find the dream home is to search for it on the market. This is a mistake for several key reasons. First, your dream home probably isn’t on the market, and if it is-- it’s most likely not at a price you can afford. Or, it could be at a price you could afford but whether it’s a sale that’s good value for money is a totally different story. Don’t forget, real estate is a seller's market. They can sell their home at any price they want, even triggering auctions to get people to spend more on their property. This happens quite frequently, and if you want to keep the spending on your home under control, it’s something you probably want to avoid.

The alternative option is to build your dream home rather than bothering to buy it. I know what you’re thinking. Isn’t that even more expensive? In the past, this was true but now with new services on the market and fresh possibilities it could be a lot cheaper than you think.

Find Developed Land--

The first step to take would be to search for land that is currently in development. The benefit of this is that you will already have the support of a growing infrastructure. That’s going to make the setup of your home a lot easier because you won’t have to find your own water supply, run electric lines or even pay for internet connections. All of this will already be in place. What about the land. You can buy land for sale for under 100K if you find the right plot. That might not seem like a good deal, but we’re talking about larger stretches of land than you’d get purchasing a built property.

Once you have bought the land, you can then think about searching for a build and design service.

Finding the Right Team--

There are lots of build and design services on the market that you can consider using. The right team will be able to keep your dream design in place and the budget under control. Let’s say that you want to build your home for 200K. With that amount of money, you’re looking at a property that is larger than average with at least a few luxury features. Of course, to buy the same type of home on the market, you would have to spend a lot more. This is by far the biggest advantage of building your home, and it’s the one that you should be focusing on.

Have a Little Patience--

The only problem with building rather than buying is that it takes a little more time. You have to wait for the property to be set up before you can move in. If you buy on the market, you might be able to arrange a deal with the seller to move in two weeks after the sale. The important point to remember is that when you move into your built home it will be exactly what you want and there won’t be any issues you need to fix. A lot of homebuyers end up spending even more on repairs that unfortunately didn’t show up on the survey.

So, could building a home be the right choice for you? The money saving benefits speak for themselves!

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