Should I Build My Own Home - The Pros and Cons of Building Your Own Home

Pros and Cons of Building Your Own Home

Published on December 12, 2010 by altpferd in Business

The pros and cons of building your home, your way.

There are some distinct advantages to building your own home.  These are:
Choice.  You get to select every part of the new home, right down to tap fittings and floor coverings.
Quality control. You get to decide where to cost cut, and where to prioritise quality over cost.
Sustainability. You can choose to build using sustainable materials and methods.

However, there are some disadvantages to consider.  These would be:
Where will you live in the meantime?  Most homes take 3 to 6 months to build.  You have to pay rent to live elsewhere as well as making the payments on the different building stages.

Losing the property you’re building on can happen if any of the following occur while building: job loss, interest rate rises resulting in higher repayments.

Weather delays.  Bad weather can make your home take longer to complete.

Unexpected costs – there may be problems with the site that aren’t evident until after building has started.

Vandals and thieves.  It is common to lose building materials and fittings to the less honest members of our society.  It’s important to insure against this and realise that it can impact the finish date of the building.

Rates and other bills. You have to keep up with these as well as your regular bills at your residence.

Once the house is built, often you have further expenses such as landscaping, concreting driveways, and fittings such as security screens, painting, floor coverings.

Only you can decide if the special feeling of having chosen and built your own home is worth the disadvantages, all of which are admittedly temporary.

Read more: http://bizcovering.com/business/pros-and-cons-of-building-your-own-home/#ixzz1DcG2Rtds