Choosing between Property Buying Vs Building

Many people have challenges when deciding between buying or building a home. A local property analyst stated that, “Both options have cons and pros. However before making a final decision it’s important to conduct comprehensive research,”

Factors to consider when building a home in South Africa

Research has revealed that new built homes have lower repair costs as opposed to old ones. Stats SA 2018 mid-year report revealed that the North West is the most affordable province, when it come to the cost of construction in South Africa.

With reference to the data building cost in the North West amount to R10, 130 per square meter (sqm). This is R9, 100 less then what it cost to build in KwaZulu-Natal. KwaZulu-Natal is one of the most expansive province   ranging from R19, 230 per square meter. Hence making the North West the best place to build a home in South Africa

Before a plan is drawn, it is vital to understand that at times new complex developments and vacant stands are usually on the outskirts of urban areas. This can makes access to amenities an issue.

Many people like having full control of the building process. Building your property from scratch allows you to customise your home. This in turn gives the individual a variety of options with regards to the layout, finishes and design. In accordance to their preferences. 

Building usually takes more time and at times may result in additional expenses that might be required by the   architect or engineer. In addition Land preparation and excavation for unseen ground formations should be considered.

The size of the stands in complex developments is usually smaller that of houses that are built in older established areas. It’s also very important to work with a construction team that has a reputable record. Working with professionals is highly recommended to avoid delays or additional costs in building your dream home.

What to consider when buying a home

Buying a home in an established neighbourhood has many advantages. For instance buying a home in an established neighbourhood means that the security might be better. This is because some neighbourhoods have security companies that patrol all the time.

Established neighbourhoods have all vital amenities such as, access to public transport, schools, shopping malls, hospitals within close proximity of one another. Buying a home is also a fast process in comparison to building a property.

When the house hunting is complete, you secure the bond, the deposit is paid and buyers move in within a period of 3 to 6 months. Buying a home is a big step and it’s a rewarding process.

However it is also important to take note of the disadvantages. A Fitzanne property agent noted, “You may move into a beautiful established house in a nice leafy suburb but be surrounded by homes that are deteriorating, this will have a negative impact on your property value.

Look out for broken windows, fences and neglected gardens. Check out the designs, layout and finishes. If there is a requirement for you to make major renovations do not buy the property.”

“Some defects are invisible when you are viewing a property hence it’s important to ask many questions and make use of professional property inspectors. Before making a final decision between buying and building make sure that you consider all important factors,” he concluded.