HOUSE: Buy or Build ?
01-06-2012, 03:59 PM
#1
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HOUSE: Buy or Build ?
May be faced with a decision to Buy a house in 2 years or build from scratch. DFW area
What would you guys do in the current "buyers market". There are hundreds of homes for sale.
How much money is saved by building via hiring a builder, aka "ABC Homes".....or yourself hiring the subcontractors, etc etc and you acting as your own builder. Is this a huge pain in a** ? Remember I am a pilot and on the road alot.
Home will be the one to retire in, I am not selling it two years later. Although I do want maximum investment/resale potential possible.
Thanks
What would you guys do in the current "buyers market". There are hundreds of homes for sale.
How much money is saved by building via hiring a builder, aka "ABC Homes".....or yourself hiring the subcontractors, etc etc and you acting as your own builder. Is this a huge pain in a** ? Remember I am a pilot and on the road alot.
Home will be the one to retire in, I am not selling it two years later. Although I do want maximum investment/resale potential possible.
Thanks
01-06-2012, 04:47 PM
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Originally Posted by HIFLYR
Having built homes for resale and myself I can tell you simply cannot build one for even close to the same price in today's market.
01-06-2012, 05:19 PM
#6
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A problem with building is the loans. You'll need a mortgage for the land at a higher rate and also the money to build. While these expenses are going out you still need a place to live. Then after its all built you can get an appraisal and normal mortgage. Typically it will take longer and cost more than you think.
01-06-2012, 05:20 PM
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Originally Posted by EasternATC
You contradict yourself.
01-06-2012, 07:42 PM
#9
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Originally Posted by AKASHA
Why not plan to retire in a home which also represents a sound investment.. a home you can sell for a profit if need be? Try to imagine a world where things don't always go as planned. It's good to have a way out.
01-07-2012, 07:25 AM
#10
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Unless you have previous experience with building or being a GC then don't try it. If you will be gone alot for work then forget it. While house prices have fallen significantly in some areas the cost of building materials has only come down a small amount, therefore the savings are less than you might think.
One can still save on labor of course by doing some work yourself but like I said, prior experience is required for that.
Good luck.
One can still save on labor of course by doing some work yourself but like I said, prior experience is required for that.
Good luck.
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