Free Credit Analysis

Credit Repair & Financial Advice Blog

Credit Repair & Financial Advice Blog

Pros & Cons to Building Your Own New Home

Building Your Own Home

When it comes to owning a house, the decision whether to build or buy is one you have to contend with. Each option comes with its set of advantages and disadvantages. For instance, buying ensures you become homeowner in record time as opposed to building which takes longer. Whichever option you settle on, it helps to evaluate the argument for and against each. With that in mind, here are the pros and cons to building your own new home.

Building Your Own Home


Less Competition

Building has less competition than buying when it comes to getting your desired home. Properties are typically on the market for a little over a month. This means the competition is not only high but it’s also possible not to get a home; between the time it takes for financing to be approved and shopping, ‘your house’ could already be off the market.


Building means that you get to come up with a design that embodies your dream house. You can personalize every detail from the wall colors to the types of faucets. This beats buying whereby you have little or no control on the layout, number of rooms or even the types of installations.

With own construction you can replicate design features from your parents house for nostalgia. You also get the chance to choose the type of contractors whose work is reliable. This is in contrast to buying a home whose construction integrity could be faulty and easily to be missed by real estate assessors.    

Less Maintenance

Building codes and standards keep on changing. This makes building from the ground up a chance for you to make your home up-to-date. You can incorporate energy saving measures such as solar powered HVAC systems. Furthermore, new appliances and building material means you will be spending less on renovations for some years to come.


Time Consuming

Building a new home can take anywhere between a few to over 10 months, this is according a US Census Bureau report. This means for the entire duration of contraction you will have to shoulder rent payments; money that could have gone to other expenses if you opted to buy.

Can be More Expensive

According to figures from the National Association of Home Builders, on average the cost of building a single-family house is about $289,415; this translates to over $66,415 more than the cost of purchasing a ready home. The high cost is a result of the level of personalization that comes with your own design and preferences. This could be spacious rooms, expensive décor or antique finishes.


Building is quite stressful, even if you are not doing it with your own two hands; you are bound to get some headaches from overseeing the process. The project manager or foreman will be there to ask questions on specifications, design alterations and of course payments.

These issues will more than likely leave you exhausted and will eat into your daily routine. The stress from seeing construction can even lead to under performance in your job and cutting into your family time.

The Bottom Line  Building comes with the satisfaction of knowing that you are the first owner of the home. You get to install modern and energy saving appliances which lowers your utility bills. You can also count on paying less for maintenance and upgrades that comes with buying a house. On the other hand, building has some drawbacks. These includes; having to wait for a long time before construction is completed, being stressed due to strenuous decision making and lastly, there is the possibility of spending way more on your new home than you would if you chose to buy.

icon Credit Tools
Credit Tools
icon Pricing
icon Reviews
icon Call Us
Call Us
🎁 Free Credit Analysis
Start Now

Complimentary Credit Analysis

Request a Credit Analysis & Receive our Free E-Book

Please select the services you'd like to discuss for your Analysis? (Check all that apply)