Building your own home is certainly still an option. At the same time, this venture is much more affordable and do-able in a growing city where housing prices are low or vacant land is available. If you try to knock down an existing building in NYC and build a new home in its place, you're going to spend a lot. You also have to decide if you want to build your home in a planned subdivision or on a vacant lot. Building in a subdivision is easier and you can leave so much of the details in the developers hands, but you have less design control. If you build on a vacant lot, all the details, paperwork, hiring and etc is in your hands. But you can hire people to help you out. A lot of people interested alternative building techniques are building this way now in places like New Mexico, Colorado and Arizona. If you are looking to build an unusual home, you will have an easier time doing this in a city or state that accepts that sort of thing. Some cities are very conservative and don't want a sore thumb or building disaster on their hands.
I know a lot of people that built a house on land they bought . My parents for one. To their exact specifications and likings. And no property tax the first year I believe ? Is that clause still in effect?
I think that building a home is for those with capital to invest, because building is a huge investment that you need to make while living in another place, not for me atm...
I think if you have the capital to do it and the right business opportunity comes along, then building a house is definitely a great investment. Whether you are building to live there yourself or to rent/sell after it's built, I think you will most likely make a tidy profit, provided you don't build with shoddy materials.
I am not sure I have not really thought about it due to the economy. Most people of us are having a hard enough time buying homes.
That is how I feel about bought homes that there is something missing. I feel that building a dwelling is perfect, if I were venturing for a long-term investment for my family.
The drawback about building is the cost of the land plus the building expenses and the time of completion, therefore most people just decide to buy a completed home, and renovate it, some people still do build, and I believe that it is as a result of being able to afford the cost of the land, and being able to also afford building from ground up, I do think building is very much still a live option for people these days however, more and more people are relying on the developer to do the building, rather than building themselves.
In my are the local council are very supporting of self-builds. They have invested a lot into providing spaces and ensure that prospective builders do not face endless bureaucracy . This is in stark contrast to 5 years ago when there were only 4 self-builds under construction in the whole town.
That's an interesting idea, around here there's no help at all for self-builders, they're treated just like regular contractors. It's especially inetesting to see that the council provides space, how does that work? They just give the terrain away if you build a house there?
Where I come from building your own home is the in thing. I am renting an apartment in a newly started small town. Majority of the people here are building their homes now. They are many vacant plots that the owners have not begun to build. A number of them build residential apartments to rent out floors below while they reside at the top floors.
