A million dollar question, to buy a house or to build it; is foremost in the minds of every consumer looking to satiate his real estate needs. Depending on the various prevalent factors, the single decision can be a make or break choice which can differentiate a sound investment from a failed one.
While the pertinence of the decision rests on a variety of factors, one needs to understand pointers which can help the potential consumer decide the course of action. It is in pursuance of the decision, that a sound real estate partner comes handy in reaching out to the conclusion. Ten on Ten lists down factors which help in deciding the perfect investment on real estate property – buying or building.
– Land Rates – One of the most important aspects in deciding on the eternal question is land rates. We all know that there are some places where land rates are premium and some where they go a-begging. So while you decide on the land where your abode will stand, it is advisable to find out the negotiable land rates which will help you in deciding if building a house is a wise decision, or going in for a pre-built one is the best suited option.
– Taxes and Other Expenditure – If the taxes of the land are exorbitant and other governmental/local levies take up more than half of the expectant budgeting than buying a pre-fabricated house will be the suggested decision. This way one gets insulated from escalating costs and thus can keep his budget in check.
– If exclusivity is your choice – If exclusivity is your choice and you seek to shape up the abode of your dreams from scratch, then going in for building the complete home is the best advisable option. You can choose the layout, the bricks, the embellishments, the setup and the complete aura of the house as per your own wish, and can show off to your peers what your taste is all about.
– Financing Options – Some banks and credit agencies give cheaper loans and attractive schemes if you are building your own home. So look into the deals and decide if the amount of money you are getting will help you in designing your own home. If the answer is yes, then go in for building your own house. On the other hand, in today’s volatile market the home loan rates are becoming cheaper and cheaper and thus if limited loan is what you need than going in for a built-up home will be a pertinent decision.
– Low Upgradation Costs – Upgrading a built up home than buying a pre-built home is cheaper. Thus if you have money and are looking for an investment which serves the coming generations as well then we suggest building a home. Upgrading a built up home is cheaper than upgrading a pre-built home, and thus if you seek to make a one-time investment in real estate property then going in for a built-from-scratch home is the best advisable option.