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Old 08-17-2013, 02:13 PM   #1
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Build your own or buy pre-built?

Looking for input on if you would rather buy a prebuilt house or work with a builder and have one built for you?
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Old 08-17-2013, 02:18 PM   #2
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My parents built a house and so did a number of my friends and all said the same thing... "I'll never build a house again!"

If you have a LOT of time to micromanage the builder and crew, then it's a different story.

Regardless of what anyone says, I still one day want to say "I'll never build a house again!" too haha
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Old 08-17-2013, 02:52 PM   #3
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Ill tell you in 10 months time
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Old 08-17-2013, 02:55 PM   #4
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I wouldn't like to build my own home, I like the idea but I couldn't cope with the stress. I'm not that organized.

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Ill tell you in 10 months time
Tell us more..
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Old 08-17-2013, 04:03 PM   #5
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If I had the dough, I'd work with an architect and hire builders.

Otherwise I'm fine with pre-built.
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Old 08-17-2013, 04:08 PM   #6
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I think a lot of it comes down to what you want, how much work you are willing to do and if you can find a good contractor.

I have never had a house built, but a friend of mine just moved into his new house. It took about nine months to get it completely done. On the plus side of it the house is exactly how they wanted it. They came up with the floor plan and picked out everything right down to the knobs on bathroom drawers. They also have equity instantly in the house. The cost of building it was less than the value of the hose once it is was done.

On the downside, it took nine months. There were some delays including back ordering for some flooring, they had the house painted, then decided that they didn't like the color so they did it again and the contractor they used was working on a few different projects at once which caused some delays. Also, they had to do a lot of work picking out flooring, paint colors, counter tops, faucets etc. My friend also went in before the sheet rock was up and ran wired the entire house for sound, cable TV and internet.
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Old 08-17-2013, 04:48 PM   #7
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I think a lot of it comes down to what you want, how much work you are willing to do and if you can find a good contractor.

I have never had a house built, but a friend of mine just moved into his new house. It took about nine months to get it completely done. On the plus side of it the house is exactly how they wanted it. They came up with the floor plan and picked out everything right down to the knobs on bathroom drawers. They also have equity instantly in the house. The cost of building it was less than the value of the hose once it is was done.

On the downside, it took nine months. There were some delays including back ordering for some flooring, they had the house painted, then decided that they didn't like the color so they did it again and the contractor they used was working on a few different projects at once which caused some delays. Also, they had to do a lot of work picking out flooring, paint colors, counter tops, faucets etc. My friend also went in before the sheet rock was up and ran wired the entire house for sound, cable TV and internet.
YOu just said exactly what im having troubles with

on the plus side once done the value is more than it cost to build and you have full control

down side it takes a long time...i would be paying on two houses at once or paying on the new one and then renting something
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Old 08-17-2013, 04:51 PM   #8
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I wouldn't like to build my own home, I like the idea but I couldn't cope with the stress. I'm not that organized.



Tell us more..
Im building a house i got the land approved this week so it should take 10 month till we move in
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Old 08-17-2013, 04:55 PM   #9
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build your own absolutely get exactly what you want...BUT a good builder is key...very key
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Old 08-17-2013, 04:55 PM   #10
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In some areas the sq ft cost of existing homes is far less than new construction.
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Old 08-17-2013, 05:10 PM   #11
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Looking for input on if you would rather buy a prebuilt house or work with a builder and have one built for you?
Prebuilt.
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Old 08-17-2013, 05:28 PM   #12
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Depends on many factors, but I personally prefer prebuilt if the property is for personal use.

Even the best/most reliable contractors will take time (but more importantly focus) away from your business(es).

By going pre-built you're essentially delegating all the hassle that comes with working with builders/contractors.

Be sure to get excellent, thorough inspectors before committing.
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Old 08-17-2013, 05:31 PM   #13
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Depends on many factors, but I personally prefer prebuilt if the property is for personal use.

Even the best/most reliable contractors will take time (but more importantly focus) away from your business(es).

By going pre-built you're essentially delegating all the hassle that comes with working with builders/contractors.

Be sure to get excellent, thorough inspectors before committing.
the problem in my area is that all the houses being built now are cookie cutter houses they get up in 2-3 weeks. The older houses that got built with care are never for sale ;/
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Old 08-17-2013, 05:39 PM   #14
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We bought our house before it was build, it was part of a planned community so we could pick the model of house that we liked and we could then customize it.
It was cool to see the progress when they build it and we didn't need to deal with contractors and such. I would do it again.
It's a great feeling walking into a house knowing nobody else ever lived in it and everything is new.
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Old 08-17-2013, 05:56 PM   #15
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the problem in my area is that all the houses being built now are cookie cutter houses they get up in 2-3 weeks. The older houses that got built with care are never for sale ;/
In that case, the only viable option is stacking 8-10 of these next to/on top of each other.

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Old 08-17-2013, 07:55 PM   #16
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i would be paying on two houses at once or paying on the new one and then renting something
Most people get a construction loan from a bank, with take outs (cash draws) to pay off on work completed. The construction loan can be interest only or interest to accrue.

It might be 70% to 80% of the estimated completed value -- when the house is completed, the construction loan rolls over into a normal mortgage with the same bank.

Ask at your bank if they make construction loans or call a few mortgage brokers.
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Old 08-17-2013, 08:23 PM   #17
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I built a house. Took about 18 months and utterly took over our life but worth it when the end product was delivered.

We sold the house to buy a larger home that is 70 years old and in need of a nice restoration. While we swear not to go as nuts as last time ... I know this will become art project lasting a few years
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