To Build or To Buy?

Couple with House

Living in your dream home is easy – getting to that point can often be a little harder. That’s why BetterBond is here to help you out. One of the biggest questions facing prospective home owners is whether it’s better to build a home, or to buy one. Here are a few points to consider if you’re having to make this decision:

What are your requirements?

Are you a first-home buyer, or a well-seasoned property owner? If it’s your first house, or you’re still relatively young, rather buy a house than build one. That way, you’ll have time to figure out what you like in a home, and if your needs or tastes change (if you start a family, or get a pet, for example) you’ll still be able to move. If you have a steady, reliable lifestyle that won’t require you to move anywhere else or change your routines anytime soon, then by all means build your castle in the clouds.

Do you know what you want?

Building is the way to go if you know what you want, and are willing to push through the process to build the home you’ve been wishing for. It does, however, involve a lot of different aspects. Do you have land, or do you still need to buy land? Are you going to buy the home in cash, or will you need a homeloan originator, like BetterBond, to assist you with the purchase of your plot? Also, open plots are often only available in less-developed areas, so you’ll have to be able to confidently predict that the area is going to grow according to your preferences and requirements. This also means that open land is often quite far from schools and places of work, so be sure that your daily travelling time won’t be a hassle.

How much time do you have?

Another aspect to consider is your time. Time, we know, is precious. Building often requires loads of hands-on presence, especially if you’re an owner-builder, and don’t specifically have a builder contracted to you. You also need to know exactly what you want, down to every last detail – and this is where it gets expensive. Not knowing what you want often means you’ll go to other people who can help, like architects, decorators and designers. It’s great to have a team, but that translates into a team pay-roll, too. Many home-builders also easily go way over their initial budget because they don’t sweat the small stuff – light fittings, décor, doorknobs, and so on seem like small expenses, but at the end of the day, a million small expenses can become one very big expense.

Finding your spot can be tricky, but it doesn’t need to be. Whether you need an architect, bond or one of our partner estate agents, BetterBond is just a phone call away. Use our Bond Calculator to see what we can do for you, or get in touch with one of our friendly agents. ‘Home, sweet home’ has never been so simple!

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About BetterLife Home Loans

Since 2003 BetterLife Home Loans has been SA’s No.1 Bond Originator, handling the entire home loan application process on your behalf – free of charge! Our aim is still to source the best interest rate for you by submitting your home loan application to all the major banks. There is no easier way to apply for a Bond or Home Loan in South Africa!

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