Do you own the house you’re living in, or are you still renting? Are you in the process of saving to finally have a place of your own?

“To Build, or not to Build, that is the Question…”

   Such is my parody of the first line of famous ramblings of one Shakespearian character by the name of Hamlet (“To be or not to be…), which leads me to two eventual life-changing questions—do you own the house you’re living in, or are you still renting? Are you in the process of saving to finally have a place of your own?

   I know of someone who used to rent a condo unit for nearly 12 years, then realized later on that she had already paid much more than the cost of owning one initially.

   Such is the pitfall of not thinking long term; renting an affordable space is faster. More convenient, too.

   Only to feel sorry for the decision years and years after. It’s a sob story told and re-told. Even the terms “landlord”, “lessor”, “renters”, and “lord” or “lady of the manor” aren’t new; they’re as old as Shakespeare himself.

   So, now you come to your senses, you have somehow saved enough (you think) and you plan to finally have a place you’d call your home, and decided to reach out to a real estate agent, or your own friendly builder/contractor.

   Now, comes the interesting, call it a “happy” issue—would you rather buy a ready-to-occupy place, or would you opt to build your dream house?

   Then, too, expect these important rules in looking for a house: Good location. Affordability. Homeowners policies. Environment. People. Property tax and related legal fees.

Pros and Cons.

If you have the money, or your estate developer is in good standing with banks and lending institutions, or you agree with the in-house loans policies, then these aren’t your problem--weighing the benefit of buying as against building is.

   Buying a ready-made house is less cumbersome, especially if you are on a tight schedule. Your real estate agent accompanies you to the house/townhouse/condo of your choice for inspection, you meet with the seller or the developer who fills you in on your endless queries, reach out to a bank or a financial institution for loan approval, sign documents, pay the initial sum required, then wait for them to call you up once the house is done and/or ready for occupancy.

   Less hassle, right?

   Wrong! For one, the abode you envision in your dream may not be what you see upon checking. The staircase is narrower, the receiving area too small, too little room for a growing family, not enough windows, the front needs landscaping, etc. More so if you are to start a family, where the missus may have a dissenting opinion as to what she believes is a perfect start-up unit.

   Granting you have no other recourse but to agree with your agent, what about the building materials used? You only see the finished product for the most part, but is your house strong enough to withstand a mildly-vibrating Magnitude 4 earthquake? Are the framings underneath the visible walls and ceilings within the standard described to you initially? Is the septic system built to last for years? And how would you feel upon finding out later on that your second-storey, tile-covered bathroom actually sits on a barely-inch-thick marine plywood instead of the buhos-type cement mix, or even phenolic* boards? Because some cash-oriented sellers and developers actually do this—build on a budget to maximize their profit.

   Then, years later, your family has grown, and an extension for, say, an additional bedroom becomes a must. You call your trusted karpintero, only to realize you will be spending much more because you need to remove an entire wall, build additional support, etc., instead of just hacking out a certain portion, like the expanse where you desire an extension the area is a load-bearing pre-cast concrete, a common type of building material used in current fast-paced constructions.

   Don’t get me wrong. These are just some of the actual issues raised by homeowners. Concerns that could actually turn that initial smile on your face into a frown, and maybe, just maybe, blatant anger.

   On the other hand, building your dream house needs a lot of careful planning. It‘s a lot more challenging. And once you start building, your personal convenience is not an option. Needless to say, your time and attention is practically a must.

   For one, more papers need to be completed prior to construction. Upon completion of the house plan, the owner needs to bring this and all other necessary documents to the individual government agency concerned to separately secure building, electrical, and sanitary permits, all duly signed and sealed by engineers concerned. Afterward, a permit billboard has to be hanged outside of the construction site specifying details concerning the build.

   Second, once construction begins, there is a good chance you will go over-budget will the materials you choose, as you may be tempted to overspend on unspecified items, or better quality/better-looking pieces during the building process.  

   Third, many homeowners deviate from the original plan, adding more living spaces to increase the total area of the house they’re building.

   Without professional guidance, you may not realize that the mere framework construction of your house build has already ballooned to more than 50% of your budget. Adding to this is the fact that one always tends to overspend during the so-called “finishing touches” of the house.

   The good news is, a large part of your problem can be solved if you get in touch with a reliable architect or an experienced building contractor. As they can foresee a lot clearer how the finished project will look like, they would be able to guide you, provide options if necessary, even advise you if you are unnecessarily spending on materials. A costing per square meter immediately provides homeowners an idea of the total budget needed.

   Some subdivisions require a timeframe for a house build to be completed, and while you may be hard-pressed at work as well, a good architect or a contractor knows how to value time. All you need do is schedule a site visit as often as you can, and always confer with your contractor about work specifics so you get a good idea of the day-to-day work completion.

   Your building contractor could also give you a good idea as to the equipment and appliances you bring into your home, each unit’s estimated power consumption, quality, longevity, etc. This helps in choosing the necessary and aesthetically-sensible items that go into your living spaces.

   Indeed, building your dream house is no easy task. Patience is key.

   Certain areas on the build process can be taxing, but then you get to customize the make-up of your home according to your taste. From as little as personally choosing the cabinet handles to doorknobs, from floor tiles selection to wall claddings, from electrical to plumbing fixtures, there is that level of satisfaction, a deep sense of fulfillment, that one gets as compared to buying a ready-made unit.

   You get what you desire, or something close to it, leading to a more meaningful accomplishment money can’t buy.

   This alone is, for many homeowners, reason enough.

  *Phenolic boards or panels are plywood-type materials made  with the aid of woven, high-density cellulose fabric with a special compound-based resin pressed together under high pressure, thus making it thoroughly waterproof. These are available in your locality through some of the bigger hardware stores.