Owning a home is the dream of most middle-class families. Not only does it offer the ability to be in control of your own housing environment (as opposed to renting), but it offers long term financial security. Yet, it’s not always attainable. As we have mentioned before, buying a house can be difficult with the recent economy.
Does this mean that owning your own home is out the window? Should you give you up your hopes and dreams and resign yourself to a life of renting? Absolutely not! While buying a home may not be an option financially, building your own home may be a great alternative.
Okay, I know you are probably thinking… “I don’t even know how to use a nail gun, how am I going to build my own home?” If you’re not thinking that, it’s definitely what I am thinking. I couldn’t imagine building my own home. If you do have the construction background, than you are ahead of the game and will be able to save some cash.
Even if you don’t know how to do the advanced projects or tasks of building a home from scratch, I am sure you can cut some corners with some DIY projects. For the projects that you can’t do by yourself, like laying a foundation or roofing, you can hire it out. There are plenty of companies that list contractors for things just like this (for example, Cordell Residential Projects helps connect suppliers and contractors).
The benefit of doing some of the project yourself and hiring some out is that you can still have a quality-built home, while also not having to pad some contractor’s wallet for doing all of the little things that you could have done yourself. To put it simply, building your own home means less money spent on your house.
That’s not the only advantage of building your own home. Others include:
Building your own home may be a great way to save some bucks while also getting the house of your dreams. While it may come with many financial perks, it doesn’t mean that a cost doesn’t accompany it. In fact, building your own home and doing some of it yourself ultimately means that you will take longer to build it. As long as 1-2 years may be a reasonable time frame and that’s if you are hiring out the major projects. Ultimately it comes down to what you have an excess of (time or money) and what is most important to you – but you do have the option to save a few bucks, should you choose to take it.