Build or Buy? Many people dream about owning homes. Some think about owning homes, but they all grapple with whether to buy land and build or buy a ready house? Building a home is believed to be a costly affair but it depends on the location, and majorly the kind of house.
Today, I explore why is it cheaper to buy land and build that dream home!
Purchasing your own piece of land and building a house on it is cheaper compared to buying an already built house. This is because, when you choose to buy a ready house, the owner(s) price the property in a way that will make them earn profit, on top of their total cost of construction. This simply means you will pay more.
Purchasing a parcel of land along the Eastern Bypass with Fanaka Real Estate will cost you roughly Ksh2 million. The cost of construction will bring the total to Ksh5 million as compared to buying a ready built house which will cost between Ksh7 million and Ksh10 million.
Here you can also use recycled construction material to have your house ready, which means that you don’t have to part with a lot of money to get construction material. This saves a great deal especially when you have neighbours who have just completed construction their own homes.
Buy a serviced plot
A building lot is land that has already been surveyed and bounded, and is set aside for construction. Real estate companies like Fanaka Real Estate offer these services and this saves you the cost of having to pay for clearing and other service costs. Such plots are usually ready for construction.
When you choose to build, one usually goes for the design that suits their budget, and at the same time incorporates that which they desire most in their houses. A new home usually requires less maintenance which translates to saving money on repairs, because everything in the house is new. You also get to use construction materials that are efficient and this reduces the cost of utility bills.