Disadvantages and Advantages of Building:
You build a hse to your specific requirements. If you have three daughters and no son or a sick mother you take that into account. The hse therefore becomes difficult to rent out as you grow older and your situation changes.When you buy the houses are designed to appeal to the general public and it is easy to rent out when your circumstances change.
Infrastructure/anemities are there when you buy: sewage, electricity, water, tarmarc roads, street lights etc are there. When you build the cost of bringing electricity, water,street lights, sewage,tarmarcing roads etc can be prohibitve; you have to think of septic tank, bore hole and all that nonsense.
The cost of mortgage is high yes, but you start getting rent or staying in immediately, not the five or so years it takes you to complete the hse, meanwhile you are paying loans for which there is no return, cost of building is going up from initial estimates.
A partially completed hse is very difficult to sell as it may not meet my specific requirements eg two wives, staying with my inlaws etc.
Yes building appears cheaper, but when I buy, I go in switch the lights and they are on, turn on the water and it is on, in the meantime Nrb Water Co is telling you the meters are out of stock etc.
You may build a palace, but if your neighbour has built a shantie near you the value of your hse goes down.
Security can be a major issue when you are building in an isolated ares, when you buy it is probably a fenced development.
Nursey school, shops, AND A BAR are always there in developed estates
THE TOWNS AND RURAL AREAS ARE FULL OF HALF COMPLETED HOUSES. YES, THEY MAY HAVE APPEARED CHEAPER TO START, BUT WHAT WENT WRONG?