Building a house is a dream come true for so many people. And there are so many reasons to build your own, rather than settle for something on the market.
To persuade you further, here are 7 reasons to build your own home.
You might not realize but building your own house can actually be cheaper than buying something that’s already available. Buying a house through a realtor comes with plenty of hidden fees. In actual fact, building your own house can end up 25% cheaper than an existing property. And with that extra 25%, you could splash out on nicer appliances or even an extra bedroom.
It’s an incredible journey
Imagine being able to say you built your own home, the place where your family will grow and share beautiful memories. Bliss.
That’s not to say it won’t be a challenge. The process will be very up and down but massively rewarding.
It also means you have everything you could ever dream of in a property, rather than having to compromise on certain aspects.
You’ll learn a lot
When you build your own home, you’ll learn more about all the elements of construction. This could also save you money in the long run as you’ll be able to do repairs yourself. Plumbing, electrics, tiling, you name it, you’ll learn it. You will learn a lot about the process and could even earn money by building properties for others.
Is it not everyone’s dream to be free of monthly payments of a mortgage? Obviously, building your own home will cost a considerable amount, but a new construction loan company could lend you the money on a much shorter-term basis. As long as you pay it back in the required time and any interest that you’ve incurred, you will have no mortgage!
You could retire early
Without a long-term mortgage (which could be up to 30 years of repayments), using a construction loan could mean you have the opportunity to retire early without worrying about monthly payments.
Alternatively, you could construct a home to sell or rent. This will then give you either a large lump sum from the sale or monthly income from tenants – giving you the freedom to sit back and relax into the golden years.
You’ll boost the local economy
Obviously, you won’t be laying every brick yourself. That would be a mammoth task. As such, using local contractors and other tradesmen will give the local economy the boost it needs and gain you a good rep in the area.
There’s plenty of inspiration
Whether it’s movies, the homes of celebrities, or your favorite accounts on Pinterest, there is plenty of inspiration to help you design every aspect of your new home. With all the inspiration available, you can create any style of home you want, which can be difficult to replicate in a pre-existing property. Unfortunately, there are very few James Bond Villain-esque properties on the market, but that doesn’t mean you can’t live in one.