Having your own house is everybody’s dream especially in the Philippines where the family is of utmost importance. So whether you belong to the young professionals group who want to invest in real estate properties not merely for themselves but for their parents and siblings, or you are among the newly married couples who plan to have your own house as you start building your own family, owning a house is indeed a top priority. However, the dilemma of building your own house or buying an already existing house is never to be ignored. Which one do you think is the better option? Which one will save you more money? Which one is more convenient?
In this week’s blog entry, Subnet Construction will share with you the advantages and disadvantages of building a house from scratch, as well as the pros and cons of buying a house from property developers, which is undoubtedly becoming more popular among Filipino home buyers nowadays. We hope that through this article, you can make an informed decision whether you end up building a house or buying one from real estate companies.
| Building a House with a Contractor | Buying a House from a Developer | |
| Competition | You have no competition at all | Many people may be eyeing on the same property you want |
| Lot Size | You will decide on the lot size | You may have to compromise your ideal lot size |
| Floor Plan | You have a say in the floor plan | Developers will not give you exactly the floor plan you want |
| House Design | You can freely design your house | You have to accept the house design of the developer |
| Features | You are the boss, your wish is the contractor’s command | You cannot dictate the developer with your desired house features |
| Timeline | Your contractor will adjust to your time frame | You will be the one to adjust to the developers’ timeline |
| Budget/Cost | The project will most likely depend on your budget | There will be a fixed amount depending on your preferred property |
| Customization | You can personalize your house | You may have to settle with the design and layout set by the developer |
| Documentation/Legwork | You will do all the legwork or may ask assistance from contractor | The developer will take care of almost all legwork and documentations |
| Move-in | You may have to wait longer before you move in | You can move in easily once project is complete |
| Community Standards | Safety and security depends on chosen neighbourhood | Rules will be strictly implemented by private community standards |
| Warranty | Warranty set by contractor. You may have to shoulder the cost of all repairs beyond warranty | Developers have a warranty period and coverage for the houses they sell. You may have to shoulder repair costs beyond warranty |
| Others | Patience is the key, but you will most likely get the dream house you specifically want | Overall, a more convenient choice, but you may have to sacrifice your specific property preferences |
There you go. We hope we help shed some light on the perks and benefits of building and buying a house. Whatever your choice is, rest assured that Subnet Construction can be your partner in designing and building your dream house. Whether you want us to build your house or to offer you one of our pre-selling or RFO units, we are just a call away.
Interested to work with us on your next house construction? Contact us anytime or schedule a FREE consultation:
Together, let us design dreams and build realities!
Sources:
– Dave Ramsey. “Building a House? The Pros and Cons”. daveramsey.com. https://www.daveramsey.com/blog/building-a-house (accessed March 29, 2019)
– Investopedia. “Should You Buy or Build a Home?”. investopedia.com. https://www.investopedia.com/articles/personal-finance/062614/should-you-buy-or-build-home.asp (accessed March 29, 2019)
– Private Property. “The pros and cons of buying development property”. privateproperty.co.za. https://www.privateproperty.co.za/advice/property/articles/the-pros-and-cons-of-buying-development-property/283 (accessed March 29, 2019)
– Real Estate View. “Understanding floorplans and why it’s important”. realestateview.com.au. https://www.realestateview.com.au/advice/buying/understanding-floorplans-important/ (accessed March 29, 2019)