Buying a House Vs Self-Build: What you Need to Know

If you are in a position to obtain a home loan and you are looking to become a property owner, this is an exciting time in anyone’s life. There are several options open to you; most people look to buy a house that is in the area they wish to live and while there’s nothing wrong with that, you could acquire a vacant plot of land have the house built.

Settling for Second Best

Some would say that when you buy a house, you are settling for second best, as you have to base everything on the building that is present. If, for example, you would prefer a one-storey house (known as แบบบ้านชั้นเดียว in Thai) that is ideal for a single person, the custom builder can create the perfect home that is designed around you.

Crunching the Numbers

In order to make an informed decision when comparing buying and building your home, you need to calculate all of the expenses for both options. Aside from this, you need to compare the value of a new build as opposed to the value of the existing property and if this looks good in terms of a return, then the self-build would be the wise choice.

Planning Permission

Of course, if you are going to build your own house, you do need to obtain planning permission; something that is not required when you buy an existing property. This would normally be taken care of by the custom builder, who has extensive experience in dealing with local government and providing your design does not impact the local environment, you should receive approval to go ahead with your construction project.

Building Warranty

Of course, when you buy a property, you take it as seen and even with land and building surveys, you have no guarantees about the future. This is another reason to have your home built by an established construction firm, one that offers a long warranty on all of its projects. If you would like to learn more about custom-built homes, search with Google and you will be given a list of local custom builders. After some browsing, you should arrive at the right company and you can make an enquiry.

You could approach your local bank and ask about a loan to build a house, or perhaps the custom builder also offers home finance, which makes the self-build possible. There are many things to consider when looking to become a property owner and with all of your options on the table, you can make the right choices.

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