startuplife magazine

Should you fix up a home or buy land?

This is a question in everybody’s mind when thinking of getting a new house. Should I start from the scratch or meet half way by buying an old house and fix it up according to my choice? For some people it is very easy to answer this as they are very clear and do not want to get an old house. They usually have a dream house in their mind with enough time and patience to build that. Money is also taken into account when weighing these options but sometimes renovation also takes up a large amount of money especially if the bought house is an old one.

If you are planning to build a new home, the first thing to do is to buy the land. When you are preparing to buy the land, the most important thing to keep in mind is the budget. You cannot spend a large amount of what you budgeted for home to buy the land as building the house also require a major chunk of that money. You need to check out the neighbourhood, the proximity to work, school for kids, neighbours and many such factors before deciding to buy the land.

Once the land is bought, then the actual process of building the house has to start. Some people will have an overall idea of how their home should look like and that has to be translated to a proper floor plan. It is always better to hire professionals to make a proper floor plan for the house. You need to first figure out how many square feet house you are planning to build. It is not advisable to begin with number of rooms and keep expanding the plan depending on the requirements. If you have an idea about how big you want the house to be, then the architect can tell you how to accommodate your requirements. If you need a three thousand square feet house and want 5 rooms in it, the size of the rooms will be smaller but if you need only 4 rooms you can have bigger rooms or have a balcony with the room and so on. The essentials need to be sorted out first as how many bathrooms you need in the house and how big you need the kitchen to be and if you need a separate dining room and so on. If you are not able to accommodate all your requirements in single floor there is always an option to have multiple floors. Once the plan is completely ready then hire a contractor for building the hose. Always keep visiting the building site to make sure the plan that you envisioned is what is being built.

If you choose to fix up an old house rather than building a new one, there are certain limitations for renovation. Some of the load bearing walls cannot be demolished as that might harm the structure of the house. It is better to hire an experienced contractor for this work as they will have better idea of how to go about it. Make a plan after thoroughly studying the house to see what are the things you definitely want changed, what you want to retain and the things you would have liked to change but still okay to keep. Even for renovating a hose, it is better to have a proper floor plan done to make sur everything is covered and there is no confusion later. You need to discuss the budget in detail with the contractor and make sure everything is included in the contract before the work begins.

 

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Should you fix up a home or buy land?

This is a question in everybody’s mind when thinking of getting a new house. Should I start from the scratch...

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