{"id":104312,"date":"2021-02-09T13:21:28","date_gmt":"2021-02-09T13:21:28","guid":{"rendered":"http:\/\/evertise.net\/?p=6880"},"modified":"2021-02-09T13:21:28","modified_gmt":"2021-02-09T13:21:28","slug":"constructing-a-home-vs-buying-a-readymade-home-which-is-better","status":"publish","type":"post","link":"https:\/\/ipsnews.net\/business\/2021\/02\/09\/constructing-a-home-vs-buying-a-readymade-home-which-is-better\/","title":{"rendered":"Constructing a Home vs Buying a Readymade Home \u2013 Which is better?"},"content":{"rendered":"

<\/span><\/p>\n

From independent homes to readymade houses \u2013 there has been a massive shift in the home buying pattern of Indians. Earlier, most people sought to buy a piece of land to build their home upon. But with steady growth in population as witnessed in the last two decades, there has been a rapid expansion of cities, limiting the land available.<\/p>\n

This expansion has led to the proliferation of home loans and apartment culture, with readymade homes taking the Indian real estate market by storm and making self-constructed homes a thing of the past. However, the trend of constructing homes is on the rise again, and many builders are already cashing in on the \u201cBuy a land, and we\u2019ll build you a home\u201d concept.<\/p>\n

Wondering which one you should go for? Well, here are pointers to resolve this never-ending debate.<\/p>\n

Convenience<\/strong><\/p>\n

Buying a house is much more convenient than building one. Constructing a home requires a lot of research related to structure and design. Before you even start building, you will have to look for a plot in a suitable location, which has all the necessary places of urban interest like schools, malls, hospitals, and supermarkets in its vicinity.<\/p>\n

Also, on average, it takes around eight-nine months to build a house. Ergo, if you\u2019re looking for immediate accommodation, constructing a home may be inconvenient. However, a readymade house or apartment is a ready-to-move-in option.<\/p>\n

Price <\/strong><\/p>\n

Naturally, readymade homes are cheaper since building a new home also includes buying a plot. Also, when you\u2019re purchasing a readymade home, you can bring the price down by negotiating for a better offer. A real estate agent can also be consulted if you have trouble negotiating. However, since there\u2019s no third-party involved in constructing a new home, there are no avenues of negotiation.<\/p>\n

Moreover, building a new home requires a lot of initial capital, which may force you to take a loan. But since the investment is enormous, it may be difficult for you to clear the home loan eligibility criteria due to the high principal. Nevertheless, many Indian lenders now provide home construction loans, making the process of building a new house financially less punishing.<\/p>\n

Customization<\/strong><\/p>\n

One of the biggest positives of constructing a house is customization. Unlike ready-to-move-in places, you can customize all the little details of your home according to your preference and taste. You can easily personalize things like interior, fixtures, layout, lights, structure, colour schemes, and even the garden. You can also add areas like a basement or an attic.<\/p>\n

On the other hand, readymade houses can be modified, but not drastically. Also, there\u2019s the added renovation expense. Nonetheless, many lenders nowadays provide home renovation loans at attractive home loan interest rates<\/a>, which can help you handle the refurbishing financials.<\/p>\n

The bottom line<\/strong><\/p>\n

There\u2019s no clear winner when choosing between readymade homes or constructing a house. It all depends upon your preferences and ability. If you have sufficient capital, you can build yourself a home. If you desire convenience, then readymade homes are your best options. Also, if you\u2019re looking to fund your purchase with a home loan<\/a>, don\u2019t forget to plan it using a home loan EMI calculator.<\/p>\n

The post Constructing a Home vs Buying a Readymade Home \u2013 Which is better?<\/a> appeared first on Evertise<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

<\/span>From independent homes to readymade houses – there has been a massive shift in the home buying pattern of Indians. Earlier, most people sought to buy a piece of land to build their home upon. But with steady growth in population as witnessed in the last two decades, there has been a rapid expansion of […]<\/p>\n

The post Constructing a Home vs Buying a Readymade Home – Which is better?<\/a> appeared first on Evertise<\/a>.<\/p>\n

Continue Reading →<\/span><\/a><\/p>\n","protected":false},"author":279,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,57],"tags":[],"class_list":["post-104312","post","type-post","status-publish","format-standard","hentry","category-content-marketing","category-ips"],"yoast_head":"\nConstructing a Home vs Buying a Readymade Home \u2013 Which is better? - Business<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ipsnews.net\/business\/2021\/02\/09\/constructing-a-home-vs-buying-a-readymade-home-which-is-better\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Constructing a Home vs Buying a Readymade Home \u2013 Which is better? - Business\" \/>\n<meta property=\"og:description\" content=\"From independent homes to readymade houses – there has been a massive shift in the home buying pattern of Indians. 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