JayDaily:
Hi guys,

With the little money I have made, I have opted investing in properties full time.

now like the topic implies,

which is cheaper?

Building a home from Scratch or Buying already built that matches your taste?

what are the pros and cons?

Building from the scratch is better.

1. It is cheaper than buying a house. Most builders who resale add up some profit, moreso real estate value is on a constant high. So a house that may have cost the owner 20 million to build may be sold for 40 million due to market value.

2. Building your own house guarantees quality. You are there to supervise and as such, you are sure that the materials used in building your house is of optimum quality.


3. Built to taste can only be guaranteed if you build your own house as against buying. You get to choose the finishing style to adopt, the flooring system to use, the wiring system to use and so on.


4. This may sound petty, but building your own house gives you some sort of satisfaction. The process may be tiring, but it is gratifying.

BafanaBafana:
If money is not the problem, buy a house. It is cheaper.
When you calculate the stress involved in building and quantify it, you will understand

Exactly!

bigpicture001:
@OP, y are Nigerians so desperate to build a house..? Are u a multimillionaire already...?

Go and do more business and more business until ur super rich...build only a house you want to live inside.

You guyz shld stop rushing to properties as forms of investment, it breeds unemployment. If you can't think of any good investment. Invest in a progressive venture by someone else

Please explain better. Thanks in advance.

Leezah:
Usually it is much more expensive, both financially and emotionally.
There are so many decisions to be made when building a house.

Contractors live in a different world and don’t speak the same language, even if their English is superb.
It’s the nature of construction that materials shrink and swell and new houses make noises, nothing quite fits right, and you will think your new house is possessed by demons.
Your expectations, on the other hand, are that it is like a new car, and everything will work perfectly.


The truth is that a new house is less like a new car and more like a colicky baby.

A simple yes or no would have sufficed. Why confuse the readers more.

Showoff mudafucker!!!

Op.When doing some research about house,whether to buy or build...So many factors were to be consider before making the decision..For example am not living in my state,anything can happen in Nigeria will are now..And where I live presently is just an opportunities... To build in your state is more cheaper and futuristic than building where you are just a alien, anything can happen,if you are career man,work may transfer you to another location far from where your house is built,and Nigeria political/economic/ethnic problem could also be another hindrance to build outside your state..My research result advice me to buy a used house,that is affordable in any area of my choice,or buy a new house that is affordable for me outside my state...while in my state,it is better I build to my taste, for the purpose of future....Plea make a good decision based on your situation at hand..Thanks..

Many people say it's better to build, and I understand. Some of my friends have built - even moving in at 90% completion - but I want to offer a counter example.

I would say just buy the house now. You pay one price today, instead of paying an increasingly expensive chunk as time goes by. Let me explain:

In today's economy, building a house gets more expensive every week. The price you pay for cement, iron, and plank during foundation will be higher when you're doing lintel 3 months later. And higher still when you want to plaster. Plus if you're renting right now, you will be paying rent while building your house. Sure you can move in even if your building is not complete, but it won't be for 9 months to 1 year from now. So add rent as part of sunken cost.

Also, most people don't rationally add all the costs of building: digging borehole or well on site; buying water for construction; building fence and gate; sand for leveling compound; petrol you spend going to supervise; every single time you move materials to site, somebody will pay for transportation; architect designs; money for omonile and other hassles; even bamboo will cost;

If you hire a contractor or supervisor, you will pay. If you do it yourself, you're basically not paying yourself for your time and headache which you could be spending working.

Those who build for a living do it well and cheaper; those who build their own house often pay more than they realize, all things considered.

kolaaderin:

It's in 3 stages, You are at lease a survival in life to start building a house of your own. Below are the stages you can choose according to your status.
Survival
When you are a struggling survival, you build from scratch because it's cheaper if well supervised and you are not cheated on materials. Most people at this level waits months to months for every stage level of the building.

Arrival
When you get to a status in life, you buy a completed house to avoid stress of building one and stress of supervising the workforces. At this status, you can save enough millions to pay and owned your own house in one bulk payment. You don't have to think and worry yourself of how much profit the builder has added to the cost. You just buy and move in no questions.

The final stage
La cream de La cream
At this class, No mass builder can build your taste of home, the class and options you want can only be built on demand. You are back to building your own taste the way you want it. This type of houses are called monument and could cost in billions. You engage a supervisor or builder of reputation to build you a monument and they are really going to make a fortune of you !!!! You know what, you are the bullion van yourself at this stage too much money.


So my brother, find your class.

You're spot on.

omo na building make sense cuz of the condition of the Country!!!!!

Buying foods from the restaurants and cooking foods at home, which one is cheaper?

post=97497083:
Building your own house from foundation is preferable. Although, buying in some instances can be and opportunity,
Someone left the country recently, with his entire family and he sold his house.
It was purchased by one of our friends at a fair price with flexible payment plan.
Also, if your buying from a desperate seller who needs cash urgently and ready to take ridiculous offers, a very popular example are politicians when election is around the corner.
Aside from these, please be patient and build a good house for yourself.

Finally,
Would advise you buy land and build your own house.
Some of the advantages of building by yourself include:

1. It is more affordable: the cost of buying land and building by yourself may be much but won't be as much as when a developer sells a house to you. Don't forget that he's also trying to make profit.

2. You will build the house up to standard: most developers, in the quest to make a lot of profit, use substandard materials to build. Sometimes even the foundation and the decking are not properly done and that can lead to building collapse in the future. (God forbid).

3. You build the building up to your taste:
Most developers use out-dated products in their building in other to maximise profit whereas you can modernise your building to your taste when you build. You can decide to install the best and latest water system, kitchen cabinets, tiles etc when you build by yourself.


Cc : Dr K and Cindy.
Let's do this guy's!
The year is running out mehn!

This is the ONLY sensible thing you have posted since you joined Nairaland.
You sound more intelligent when you are not supporting that lifeless jihadist in Aso-Rock.

From my knowledge of real estate as a consultant, both methods have their pros and cons

Firstly, Buying a house is a good idea under the following circumstances:
(1) If you are not domiciled in the country or are involved in the kind of job that would make frequent physical inspection impossible. This is to ascertain that the work of the architect and the engineer is in line with the building plan and the quality of material usage is good.

(2) You encounter a huge amount of cash and you need to tie down real estate as such cash cannot match the time frame for building from the scratch coupled the temptation to spend money on other things as well.

(3) You encounter a distress sale offer that's too good to be turned down. People sell their properties for lower than the market value when they are in desperate need for cash.

While most people are familiar with the numerous advantages of building from the scratch, it is pertinent to point out that there are certain underlying factors to be able to enjoy these benefits

You can contact me on WhatsApp on 08107872622 for more real estate opinions and suggestions

#Gemstone

datola:
Building from scratch is better only if you are on ground and have time to supervise.

Buying is better for the people abroad or that don't have the time.

Only when you are on ground to supervise, thank u for this bro...my 4m 2bedroom flats is not worth #1.5m because I wasn't around when they were building it and I knew nothing about building then

Both of them are cheaper, if you have too much money

Building from the scratch enables you to have experience. It enables you to build to your taste. Though, to some already made is better because of stress free BUT do you know how the foundation is laid? like which iron rod, wether the cement was managed or not, wether the digging was deep or not depends on the type of soil where the building is built.
It's more advantageous to build from the scratch to avoid future regret spiritually.
Thanks

Juliearth:






Building from the scratch is better.

1. It is cheaper than buying a house. Most builders who resale add up some profit, moreso real estate value is on a constant high. So a house that may have cost the owner 20 million to build may be sold for 40 million due to market value.

2. Building your own house guarantees quality. You are there to supervise and as such, you are sure that the materials used in building your house is of optimum quality.


3. Built to taste can only be guaranteed if you build your own house as against buying. You get to choose the finishing style to adopt, the flooring system to use, the wiring system to use and so on.


4. This may sound petty, but building your own house gives you some sort of satisfaction. The process may be tiring, but it is gratifying.

thanks for this.

Buying a readily built house is like buying an asala. Whatever you discover after buying it becomes your peril!

Also, building a house by yourself affords you the opportunity to dispense your cash in bits, spreading the huge expenses over a period of time, instead of paying outright sum at once while buying.

Thank you guys,
thank you all,
each and every ideas giving counts.

mrbee1948:


This is the ONLY sensible thing you have posted since you joined Nairaland.
You sound more intelligent when you are not supporting that lifeless jihadist in Aso-Rock.

just because say dem no support d thief and criminal u support? I pray make hypocrisy and hatred no kill u be new year o. Na serious prayer I dey pray 4 u b dat

Nobody addressed the investment part of the issue. Let me make my contribution.
a. Building your own house to live in is cheaper in the long run and can hardly be used a investment. Except you have many of them. It takes time to sell.
b. buying a house as investment is cheaper if you have opportunity of those who are short of liquidity.
c. You have less tress from buying if you have the cash. You may raise form if you have access.
d. check very well what you are buying has a lot of legal technicalities. In addition the value of what you should be buying will be a discounted value of the construction and the current value of the land.
New areas development present the best opportunity, however this takes time. This is why developers are many now trying to attract the people to estates; the land of which they bought for peanuts and sell for high prices after they have done little development
e. But if it is for investment to have somebody to buy the house after you have build it, you may be facing a fire sale.
Property is the most illiquid asset in the market, beware.

The seller of the house you want to buy,built from the scratch and wants to sell for a profit,isn't?

Common sense should let you know that building from scratch will always be cheaper.

JayDaily:
Hi guys,

With the little money I have made, I have opted investing in properties full time.

now like the topic implies,

which is cheaper?

Building a home from Scratch or Buying already built that matches your taste?

what are the pros and cons?

Building from scratch is far better. I can be of help in architectural drawings, structural drawings and construction supervision. You can reach out to me on +2348068890396.

buying the land and building to your style is good but sometimes old building are sold you don't demolish everything because the old building are stronger so you just renovated to what you want!

henry4991:
To Steal House is Much Better

at your age you never get sense

Building from scratch is better and three times cheaper than buying a house of the same size and structure, if you know what it takes to get it right. Although building a house is stressful and time consuming but three times cheaper than buying a house of the same size. Never you give the house to contractor to build and hands keys over to you, he will mess everything up, buy the materials by yourself and supervise the work as well or get a trusted someone to supervise the work.

Building a house prevents you from buying a house where many rituals has been done in the past that may turn to attack the new occupants of the property.

It prevents you for buying a house in which substandard materials were used during construction.

It prevents you from falling into the hands of estate fraudsters and many other things.

The only advantage of buying a house is time saving and stress free; period.

Buying right? How do you ascertain if the previous owner/builder has not buried charm underneath?

nextstep:
Many people say it's better to build, and I understand. Some of my friends have built - even moving in at 90% completion - but I want to offer a counter example.

[b]I would say just buy the house now. You pay one price today, instead of paying an increasingly expensive chunk as time goes by. [/b]Let me explain:

In today's economy, building a house gets more expensive every week. The price you pay for cement, iron, and plank during foundation will be higher when you're doing lintel 3 months later. And higher still when you want to plaster. Plus if you're renting right now, you will be paying rent while building your house. Sure you can move in even if your building is not complete, but it won't be for 9 months to 1 year from now. So add rent as part of sunken cost.

Also, most people don't rationally add all the costs of building: digging borehole or well on site; buying water for construction; building fence and gate; sand for leveling compound; petrol you spend going to supervise; every single time you move materials to site, somebody will pay for transportation; architect designs; money for omonile and other hassles; even bamboo will cost;

If you hire a contractor or supervisor, you will pay. If you do it yourself, you're basically not paying yourself for your time and headache which you could be spending working.

Those who build for a living do it well and cheaper; those who build their own house often pay more than they realize, all things considered.

After 10years of omo onile wahala, documentation issues, approval issues, court cases, land confiscations, 419 builders, stolen electricals, stolen iron, stolen cement and a decking collapse....I decided to buy to my taste. It's better to buy, not just buy, but buy cheap. To be honest, after building my house years ago, I found better houses in far better locations, which were the same cost of what I built. Had I just saved up the money, I would have been in a far better location when the opportunity came.
However, buying is not for everyone. As someone said earlier there are three categories of finances that most appropriately fall into buying or building.

For those of u here saying it's the poor that build from the scratch... it's untrue. Most of the rich build from the scratch with reputable construction companies and interior designers. It is the up and coming (new money) that mostly buy houses the live in. Obasanjo, Atiku, Dangote, Otedola, Jonathan, Tinubu, Arthur Eze, Coscharis, to name a few..... Built their home from the scratch

I'd rather buy than build. Building, they say is cheaper but have you monetized your emotional strain when talking to artisans or pricing goods Biko for Naija, if you have money, buy and pack in the next day. Shikena

Good day everyone pls I want this message to get to front-page please.I bought card online from my bank today which is zenith bank amounting to 200naira only for me to discover that the sum of 364naira was debited from my account balance and that simply implies that the bank charges was 164naira.this isn't the first time I notice this as I also discover that each time I make a transfer,after the transfer is successful and am been charged back charges I also do notice another extra illegal 50naira that is usually been debited to my account after subtracting my current balance from my previous balance.every effort to reach the bank directly seems to be in vain.

Building from scratch affords you the pleasure of exercising your architectural taste and the priceless sense of involvement. As for which is cheaper, building from the scratch is cheaper when compared to buying from a realtor whose motive is primarily profit. Buying may be cheaper in some cases especially in a distress sale by a previous owner but that belongs to the realm of luck...
If you have the time, build from the scratch and be fully involved. It makes you more conversant with your house and you can tackle subsequent technical issues more easily.

Good day everyone pls I want this message to get to front-page please.I bought card online from my bank today which is zenith bank amounting to 200naira only for me to discover that the sum of 364naira was debited from my account balance and that simply implies that the bank charges was 164naira.this isn't the first time I notice this as I also discover that each time I make a transfer,after the transfer is successful and am been charged back charges I also do notice another extra illegal 50naira that is usually been debited to my account after subtracting my current balance from my previous balance.every effort to reach the bank directly seems to be in vain.

dROC1:


After 10years of omo onile wahala, documentation issues, approval issues, court cases, land confiscations, 419 builders, stolen electricals, stolen iron, stolen cement and a decking collapse....I decided to buy to my taste. It's better to buy, not just buy, but buy cheap. To be honest, after building my house years ago, I found better houses in far better locations, which were the same cost of what I built. Had I just saved up the money, I would have been in a far better location when the opportunity came.
However, buying is not for everyone. As someone said earlier there are three categories of finances that most appropriately fall into buying or building.

Just as simple as this. If you want to build to you taste, it gonna cost you much than buying but buying is way cheaper and stressful to building. I'm talking from experience.