When choosing whether to build a house or buy a house in the Philippines, there is no simple solution. It ultimately relies on your particular preferences and budget since both solutions have advantages and disadvantages. Building a house may be a better option for you if you are seeking for an economical one than buying one. In the Philippines, you can purchase land for a small portion of the price of a pre-built home. Additionally, you can save costs even further by performing some of the construction work yourself if you are skilled with a shovel, hammer etc.
However, because a house is already built and ready for habitation, purchasing one can be less stressful. Finding a Contractor and obtaining permits are other things you do not have to worry about. Your personal demands and financial situation will ultimately determine whether you choose to build or buy a house in the Philippines.
Before deciding, carefully evaluate both possibilities. What is the main advantages and disadvantages before buying or building a house. You can discover more about your choices by reading this article.
What are the things you should consider when buying a house?
Many people think about the possibility of buying a house initially when searching for a new residence. When it comes to buying an existing house, there are, of course, certain benefits and drawbacks. In order to help you decide what is most important to you, we will present the facts.\
Advantages of buying a house instead of building one
1. You may enter any time
When you buy a house that has already been constructed, you can move in as soon as the paperwork is completed. Purchasing a home will give you a location to settle in as soon as possible if you’re in a rush and need your house to be ready before the baby is born, for instance.
2. Saving time
Purchasing a home is a terrific alternative if you lack the time to plan with contractors or visit the site for inspection. You don’t have to spend time on house construction because the house is already built.
3. Has only minor renovations needed
If you locate a home that checks all the proper boxes, you’re lucky. But more often than not, you end up with a home that closely matches your concept and is open to customization. Purchasing a property is an excellent choice if you want to redecorate but dislike huge construction jobs.
4. Reduce stress
When you buy a home, you can stop worrying about construction and the costs associated with it. You already have an idea of the purchase price, transfer fees, and other expenditures after talking to the owner or your mortgage broker about the property.
5. You are aware of your financial requirements.
To determine whether you can afford a house, you must first make plans to purchase one. A price that meets your budget might be reached through negotiation with the owner or your broker.
Read also : What to check when buying an affordable house and lot
Drawbacks of buying a house versus building it
Undoubtedly, there are drawbacks of course. Please take into account the following considerations.
1. Stress associated with buying a house
Looking for the ideal home can take time and be stressful. The current real estate market favors sellers, who receive numerous clean offers above their asking price within days of marketing their properties. Buyers, on the other side, deal with exorbitant costs, competitive bidding, and several rejected offers. It may not always be simpler to buy than to make. The process can be sped up and made easier by working with a good real estate agent.
2. Home-style compromises
Even with a large range of options, it might be difficult to choose a home that suits your preferences. You won’t have many options because there aren’t many properties for sale compared to the demand for residences.
3. You can’t have everything
There are times when you can find a home with everything you need, including a good bathroom and a large garage. However, while being in a fantastic location, you don’t want to go over your budget. Other times, despite like the neighborhood, you can’t seem to find the ideal home.
4. It’s being viewed by other people as well.
Looking at available homes is a time-consuming process. However, you must keep in mind that while you are viewing various homes, several other people are doing the same. Someone might already be signing the contract by the time you’re prepared to make an offer.
5. Factors and Considerations of Building a House
Building a house has benefits and drawbacks, just like purchasing one. We’ll put out the facts, so you can decide what matters to you most.
Benefits of building your own house
1. Complete command of the asset
You have the freedom to decide where to put your house, how it will exactly appear and feel, and what materials you’ll choose to make it. It is entirely up to you how you will decorate your home so that you will be proud and delighted to return there each day.
2. No alternative buyers
You can choose when to start construction on your dream home once the land is already yours. You don’t have to make judgments quickly. Take as much time as necessary to construct it.
3. Less frequent maintenance
Less upkeep expenses could be expected with a newer home. For key systems, a builder’s warranty is typically included with new homes. Guarantees will also be included with new appliances.
4. A healthier house
In a newly built home, you won’t have to worry about things like asbestos or lead paint.
Of course there are drawbacks of building a house as well
1. Increased workload and stress
There is no quick way to construct a house. The procedure will take much longer than just purchasing a house and moving in. However, you’ll end up with the home of your dreams, so overall it may be less stressful.
2. More work
An active attitude is needed when building a house. To build the house of your dreams, you’ll need to collaborate with a range of people and make a ton of decisions. All specifications and contracts must be approved. Managing the build’s finances is another responsibility you’ll have.
3. Additional expenses
Additional costs will inevitably arise, even with a strong working budget. Not to add that the construction plan could alter, the cost of building materials is frequently volatile.
Research is necessary whether you intend to buy or build a house. Determine whether it is better for your needs to buy an existing house or to build one from scratch. To build or buy a house, you must be able to afford all of the associated costs. What’s more, if you choose to purchase a house and lot, BRIA Homes is the best for buying a one. With over 50 projects nationwide. BRIA Homes, one of the Philippines’ leading housing developers, aims to bring affordable house and lot packages and condominium units closer to ordinary Filipino families. BRIA Homes takes pride in its quick construction time. It uses new home building technologies in every project to reduce construction time without sacrificing quality.
Utilize the opportunity to view the BRIA’s 360 virtual tours offered by BRIA website on the organization’s official website and to contact online via its BRIA’s Facebook page. Property hunters can also book a BRIA Home online by visiting the online reservation website.