Categorized | Featured, Residential

Real Estate: To Build or to Buy

Real Estate: To Build or to Buy
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Owning a real estate property could be by any of the two means; build or buy. Previously, a lot of people all over the world bought land and then built on them. The surge in real estate businesses gave birth to a new means of acquiring an estate property: buying. Land sales are however still ongoing in some parts of the world; individuals buy lands and build from the scratch. Any of the means of acquisition has its own problems and advantages.

An already built property may be more expensive and may require a large amount of initial capital. Most individuals are never able to raise all the money and so are forced to go for loans with high interests. It is however the best option if one needs a property in a very short time. The homes are already built and furnished and save the buyer the trouble of having to spend more on furnishing or on labor.

Building on one’s own is a good option if the building is not needed immediately. It requires less initial capital as one does one thing at a time. One will be able to pay for the land out of his own funds and continue working anytime there are funds, without necessarily taking a bank loan. It may however be more expensive as they would have to pay for labor and building materials. You may also have to pay for building permits and other documentation, depending on where you live.

Depending on what your current budget is and when you need a house, you can choose to buy or build one yourself.

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About James Pattric

James writes for the Residential category (along with Josh Johnson) and also heads up the Resources category.

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