Is it cheaper or better to buy a house or buy property and build? What have you found to be (dis)advantages?

Question

I'm a potential first-time buyer, and I live in a rural area where land is cheap (about $2,500 to $5,000 per acre lots). Houses are typically on the cheaper end as well, but many of them are older and very much alike. I'm either looking to buy a 3 bed, 1.5+ bath house, or buy the lot and build one. I know building has its own headaches, but its own rewards as well. I'm wondering (all things being equal) which is typically cheaper, or more rewarding. Thanks for your thoughts.

Answer 1

I just built and buying is much cheaper. Buying is probably better investment in today's market and building is a hassle!!!!!!!!!

Answer 2

Having a home built for you is much better.You can hire a designer to custom build one to your liking.Instead of the cookie cutter homes that are already designed.

Answer 3

All  depends  on  the  person  building ,

Some  want  a  cheap  pre-fab   to  throw  up ,

Some  people  want  a  custom  built   ICF  or  2X6  wood  frame  instead  of  2X4 ,   with arched  triple  pane  windows ,   R-30  insulation ,  solar  panels ,  granite  counters ,   LG  appliances ,   hardwood  and  tile  floors ,

etc  ,  etc,  etc   .   .   .

Cheaper  if  you  want  it  to  be,

More  expensive  if  you  have  specific  quality    issues .

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