We all encounter this dilemma at some point in our lives especially if you are one of those affected by Rural-Urban migration. After living in Rentals for years especially in cities like Nairobi, Mombasa, Kisumu etc time will come when you will want a thing of you own and here the question comes, will you build one for yourself and your family or rather buy it one time?
Below we lay down everything you need to know about Building and Buying:
- Buying an existing home offers you 2 pros; Convenience and Cost. Once you have saved your money or your mortgage approved you can start looking for homes that are on sale within your budget and with the help of a real estate partner like Myspace Properties the process can be streamlined and shortened for you. Once you have made your offers and they are accepted you can finalize on the paper work and move in within a month or two. Even though the process involves numerous steps – such as financing, viewing homes, making offers, home inspections and closing – the convenience of being able to move in right away is compelling enough for many people to choose an existing home over a build. This may be especially true for buyers on a tight schedule, such as those relocating for a new job or whose children will be starting at a new school.
- Another plus on convenience buying a home is that you can get all the amenities already established e.g schools, hospitals, tarmac roads, churches and shopping centers and also if you happen to buy it near a town it will be much convenient to work in there and save time. Very few plots are available in major cities like Nairobi and Mombasa hence building near these cities is difficult.
- Building a home on the other hand gives you freedom to choose all the types of design, look and material used, something an already designed home will not give you.
- Building a home also gives you that feel of satisfaction, money and features aside. Something you created out of your sweat and sacrifice over time will give you something special to appreciate every time you look into it.
- However building a home doesn’t offer same convenience as buying one. First you have to look for land, follow all the due process of buying it and consider all the amenities around you will be of help to you and your family it’s not only time consuming but a tiresome experience especially for the working class who are busy with work. Afterwards you have to look for an architect or builder then choose all the materials needed.
- Time and Cost, One of the biggest drawbacks of building a home from scratch is the time it will take for it to be complete and also you will spend much more than buying a ready one. Building costs and materials tend to rise over time, however to be able to handle this work with a reputable builder and have a good contract in place.
In either case, working with a qualified and experienced professional – whether that’s a real estate agent or a general contractor – can help ensure the process goes as smoothly as possible. Don’t hesitate to reach out!