Everyone wants to own their own house at some point in their lives. Becoming a homeowner is indicative of success and stability - the quintessential landmark of ฝากขายคอนโด adulthood. Building equity, reaping tax benefits, and eliminating landlord woes are just a few of the many perks to ownership. It seems like a no-brainer, really.
However, 2008 was the beginning of a rough era for real estate. The House Market Crash of 2008, also known as the United States Housing Bubble, is considered one of the most horrific economic crises in U.S. history. It put a serious damper on the ability to purchase property and caused the nation's economy to tailspin into a recession. Now, six years later, economists report an improving trend. The nation's economy is on the upswing and houses are becoming more affordable to purchase than ever. With the housing market dilemma dwindling, that leaves only one question: build or buy?
Pros of Building
Building your own house gives you the ability to make it your own, down to the smallest detail. It can foster a unique sentimental value that cannot be duplicated by buying pre-owned. Additionally, brand new homes are less likely to require repairs or routine maintenance. Since they are usually under a warranty, any repairs or maintenance required will be completely covered. New homes are also often equipped with advanced technology and a more intuitive design, allowing for higher safety standards and higher efficiency which result in lower electric bills.
Cons of Building
Choosing to build your own house is definitely the more expensive route. New homes are typically more expensive per square foot than those previously-owned. Include the cost of purchasing land, construction costs, and Homeowner's Association fees and the overall expense can put a strain on you financially. Likewise, the Homeowner's Association tends to implement strict rules you must abide by, from paint to garden demands. You should also consider the intense time commitment building requires, as there will be numerous meetings with developers and contractors from start to finish. Most importantly, the time it takes to build varies. From budget to inclement weather restrictions, the entire process could take a very long time to complete.
Pros of Buying
Buying a previously-owned property is super convenient because you can move in as soon as possible. You can usually negotiate the price since the house might not be exactly what you want, so the overall cost is cheaper. Also, since you are already part of an established community, there is no Homeowner's Association to worry about. Overall, buying involves taking fewer risks and results in less stress.
Cons of Buying
Unfortunately, previously-owned houses are often old and require routine maintenance and sometimes large renovations. Also, because these houses are older, they are less energy-efficient, resulting in higher electric bills. Electing to reside in a previously-established community also forces you to compromise on important aspects of living, including location and amenities. You can also expect an inventory shortage alongside improvements in the housing market and economy. When more people are buying, there is less to pick from.
The decision to build or buy your own house ultimately lies with you. Determine what's right for you, and keep the market for new homes in mind when making your decision. Everyone deserves and can acquire their dream house, whether it is new or used.
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