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Buying vs. Building Your Own Home: Which is Right for You?

When you decide to move and find a house to live in, you better be up for an adventure. Sure, it’s a fun process, but it’s very time-intensive.

It’s exciting to put down new roots, that’s for sure. But it would help if you decided whether to buy or build a house right from the get-go. If you don’t choose wisely and have to back peddle, it’ll be more pain than it’s worth.

Luckily for you, you don’t have to wonder whether you should buy or build! Review these pros and cons, and you’ll have a clearer picture of which direction to go. Let’s take a look!

Advantages of Buying a House

You have to admit that buying a house is pretty tempting. Not having to bother with building a house from the ground up is a huge perk. It’s a quicker process to buy and doesn’t involve finding land, hiring a builder, and dealing with everything else. Buying a home still takes time, but it’s generally a more effortless experience than having a house built.

Convenience – Being in a specific neighborhood closer to work or your kids’ school may be necessary. If it is, then buying a home is the way to go.

Affordability – It’s usually less expensive to buy an existing home. Taking out a home loan doesn’t have as high of a risk as having a land loan. You may also be able to get a better interest rate.

Landscaping – Having to figure out how to landscape your house takes time. You may not know which direction to go. Having the landscaping already taken care of for you means you won’t have to make any of those decisions.

Disadvantages of Buying a House

There are many disadvantages to buying a home, like not being able to customize your home. Many homes come with a set floor plan, and you can’t make a lot of modifications. When buying a house, you may find yourself settling to end up in the right neighborhood. Be aware that this may happen and be at peace with your decision.

Check out more disadvantages of buying vs. building:

Floor Plan – Having the perfect floor plan likely won’t exist when buying a home. It can take time to select a floor plan that suits your needs, assuming you have enough to choose from.

Competition – When buying a house, there may be more competition. So, you may end up spending more money on a place to be in a particular neighborhood.

Renovations – It’s challenging to find a house in perfect condition. At some point, you’ll likely need to upgrade things and make renovations. All these things may cost a lot of money.

Advantages of Building a House

Like there are pros and cons to buying a home, there are pros and cons to building a house. The most significant benefit to building a home is you get exactly what you want. Customizing your home is ideal when you want a certain house plan and layout. It gives you the freedom to have your house look a certain way.

Here are a few more benefits:

Energy Efficient – Having an energy-efficient home may be important to you. When building a home, you have the power to install green appliances, solar panels, and the like.

Low Maintenance – A builder will build your home according to current building codes. Naturally, you won’t have any major updates anytime soon.

Brand New – Doesn’t the sound of having a brand new house sound nice? Once built, you can bask in the newness knowing your masterpiece is now complete.

Disadvantages of Building a House

You can’t be in any rush to move into a new home. It takes a lot of time to get things built. Weather and other hiccups may make the process take longer too. Also, keep in mind that there isn’t much leeway on a purchase price with a builder, for example.

Let’s cover some disadvantages more in-depth:

Time – Expect the process of building a home to take approximately eight months. The timetable of when things will be completed will change a lot.

Cost – Extra costs may pop up along the way. Keep this in mind as you select materials and appliances for your home.

Stress – Building a home usually is a stressful experience because of the time it takes to build. It’s exciting when things are done, but until that point, expect many bumps along the way.


The choice is yours whether you decide to buy and build. I suggest making a list of what is most important to you.

If being near your job in a certain neighborhood is essential, buying may be the way to go. In contrast, if you’d very much like to customize your home, then building a house may be a better option.

Weigh over the pros and cons, and soon you’ll be on your way to settling into a house you love!