Whether it is better to buy a house or buy land and build a house is often a challenge to many who desire to have homes of their own. This should not be the case. A critical analysis of various factors should make it easy for anyone to make the informed decision on whether to buy land to build a house on or buy a ready-built house.
Cost should always be the most important consideration for anyone to take into account. It becomes necessary for one to analyze and compare the combined cost of buying land and constructing a house and the overall cost involved in buying a ready house. This requires consultation with different property experts who are in a better position to provide information relating to cost of land, cost of building materials, cost of labor, costs related to installation of amenities and cost of transfers in case of buying a ready house.
Location is the other very important consideration that one must take into account. One may not have any option but to buy a ready house in case he/she wishes to stay close to or within a city. This is simply because it is very rare to find open land near cities that have not been developed.
The time it takes to complete land purchase agreement and construct a house is the other factor that may force one to buy a ready house. This is unless one is not in a hurry and can wait for long as it takes to complete necessary transactions before constructing a house.
The need to have a customized house built according to preferred specifications may also force one to buy land in order to build a house. Indeed, it is easy to build a customized house than transform a ready house depending on applicable local authority legislation.