To buy or to build

Everyone dreams of owning their own home one day, but choosing between buying and building that dream is a tricky decision.

With building there is the major advantage that the house will be exactly the way you want it and everything from the shiny new taps to the fresh coat of paint on the walls will be brand new and your choice.

Building does mean that you need to be patient, as you need to take into account the design process, getting council approval, and the time spent on site, which can be anything from six months to over a year.

Buying a house is a much faster option and possibly a safer option, as you know exactly what you are getting.

Rawsons property group managing director Tony Clarke says that besides saving time, buying a house is without a doubt the more convenient option.

“It may take time to find something you really love, and you might have to live with a few details that are not quite perfect, but with the help of a good real estate agent and a little bit of luck, you could be unpacking in your new home in just a few months,” he said.

According to Clarke, existing homes are also usually more cost-effective than building from scratch, especially when you take into consideration the side benefits of a properly cared for and lived in property.

“Things like an established garden are a huge plus that would take years and thousands of rands to set up from scratch and smaller things like existing built-in appliances and window blinds can also save you a lot of money when you move in.”

With buying however, there is the chance of taking over someone else’s problems or poorly maintained issues that are not always apparent on the surface.

“The Consumer Protection Act does give buyers some recourse against latent defects, but it’s always a good idea to have a professional home inspection done before you buy, to help prevent nasty surprises,” said Clarke.

With a newly built house on the other side, you will be the first to discover the problems which creep into a house.

“It’s not uncommon for new houses to have plumbing, wiring, and even waterproofing or structural problems, so make sure to use a reputable builder, and have provision in your contract for the repair of any latent defects,” he said.

So, if you decide to build, you need patience and a flexible budget and if you feel like buying, you need to invest in a home inspection and get ready to DIY.