Buying a property vs building

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!