Buying a property vs building
Category Principal's Message
The most cost-effective decision is the most appealing, given the current cost of living and interest rates.
Consider the following;
Pros of building
- Design and customize your dream home according to your exact specifications and needs
- Incorporation of energy efficient technologies to save on costs
- Higher resale value on a modern property
Cons of building
- Lengthy and unpredictable construction process with possibility of delayed occupation
- Higher initial and unforeseen costs
Pros of buying
- Quicker time for occupation once the transfer has been concluded
- Possibility there will be existing infrastructure and amenities in the area
Cons of buying
- Possibility of repairs required
- Costs of bond registration and other legal fees
- Purchase as is which allows for possibility of latent defects
While it is a personal preference, it is ultimately more cost effective to purchase a property given the current status of being in a buyer's market.
Consult your trustworthy real estate agency to assist you today!
Author: Prime Property Marketing
