A crucial moment in most people’s lives is investing in a property, and if this is your case, you’re probably wondering; is it worth buying or building a house? and what are the main advantages and challenges of each decision? Both options have considerations that you should keep in mind before deciding on either. Discover below some of the most important factors you should know before investing in your assets.
What is involved in building a house from scratch?
When starting a home construction project, you must contemplate a number of preliminary steps before you can even formally begin construction. Although the procedure may vary according to the specific needs of the project and local regulations, there are some common steps that are usually followed.
- Preliminary site surveys: Before starting construction, it is crucial to conduct site surveys to understand the characteristics of the site, including soil strength, hydrology and topography of the site.
- Hiring of architect, engineer and builders: It is necessary to have the architectural project defined since a series of permits to build depend on it.
- Permits and building permits: According to the legislation of each area, obtaining the necessary permits from local authorities is a crucial step to comply with building regulations and standards. In the particular case of the CDMX, you will need documents such as alignment and official number, land use zoning certificate, hydraulic services feasibility report, alternative rainwater catchment system, environmental compliance statement, metro approval, proof of no water or property debts, neighborhood advertising, type B construction permit and construction completion notice. This step is extremely important to avoid any kind of pause or closure of the work and thus avoid wasting time and money.
Once the above has been accomplished, you will be able to start with the development of the work. A detailed planning including project objectives, needs and budget should be contemplated at this point.
The process of building a house from scratch follows a carefully planned sequence to ensure the quality and durability of the structure. It begins with clearing the land and leveling, removing debris and preparing the surface for construction. Next, we proceed to the foundation, which provides the structural base on which the house will be erected, following the specifications of the soil study. Subsequently, drainage systems are installed to manage rainwater and wastewater.
With the base ready, we proceed to the erection of the structure, building walls, castles, beams and slabs according to the specified design, using high quality materials. Next, connections for utilities such as electricity, water and gas are made, leaving adequate space in the walls for the corresponding outlets.
Depending on the region, thermal insulation can be installed to improve the energy efficiency of the house. It is essential to establish a realistic budget that includes all additional costs and expenses that may arise during the project. The choice of quality materials is fundamental to guarantee the durability and longevity of the house, consulting with experts to select the most suitable for the project and the established budget.
As you can see, in the whole process of building a property from scratch, the economic factor is central to this decision. While starting a project of this size may offer the possibility of being on budget in a more precise way, since the size and materials can be chosen according to the available finances, the reality is that the logistical, administrative and legal part, in addition to money, involves time.
What is involved in buying a new or used home?
This choice depends on a variety of factors including personal preferences, budget, location and specific needs.
- Modern design and features: New homes often offer modern designs and updated features that can be adapted to the buyer’s current tastes and needs.
- Builder’s Warranty: New homes usually come with a builder’s warranty, which provides protection in case of problems with construction.
- Energy efficiency: New homes tend to be more energy efficient, which can result in significant savings on utility bills in the long run.
On the other hand, second-hand houses imply a series of additional advantages, such as the following:
- Lower initial cost: Used homes tend to have a lower initial cost than new homes, which can be an advantage for buyers on a limited budget.
- Margin to negotiate the price: With second-hand houses there is the possibility of negotiating a much better price if the property has been on the market for a long time.
- Immediate availability: You don’t have to wait for a used home to be built, which means you can move in more quickly after you buy.
In the context of buying a new or used home, there are also considerations to keep in mind before making a choice. For example, you can access a new property in the pre-sale stage, which implies starting to pay for the property and being able to inhabit it within a period of time ranging from 3 months to 2 years. On the other hand, a pre-owned home may require remodeling and repairs to ensure optimal performance. The latter should be among your budget ideas to avoid surprises later on and always request as much information as possible from the seller.
Ultimately, the decision to buy a new or used home depends on your personal preferences, budget and specific needs. It is important to carefully consider the pros and cons of each option before making a decision. Remember to consult with real estate and financial professionals for additional advice to ensure you make the best decision for you and your family.
Which option should I choose then?
Well, buying or building a home depends entirely on your short-, medium- and long-term needs, as well as the lifestyle you lead and the time you are willing to devote to both projects. On the one hand, if you are a person who highly values location and your idea of acquiring a new home is to be able to move as soon as possible, as well as to avoid any type of legal and construction setbacks, without a doubt, buying a new or used home is your best option.
On the other hand, if you are a perfectionist with your environment and consider that there is nothing better than being 100% involved in the development of a residential project, and in addition, you prefer to invest in an area with the potential to develop economically in a few years to improve the value of your property, building is probably the option you are looking for.
Top 3 new and used houses in CDMX that you should consider in your decision
Bosque de Ombúes I | $33,000,000 MXN → $28,000,000 MXN
Incredible residential property in one of the most exclusive areas of the CDMX; Bosque de las Lomas. The project has a total of 1000 m², a classic and cozy style, ideal for families, with high ceilings, floor to floor windows and dreamlike green areas. Take advantage of this incredible temporary discount on this property!
Main characteristics: 4 bedrooms | 4 bathrooms | 4 drawers
Paseos de los laureles V | $40,000,000 MXN
In Bosques de las Lomas hides a residential project that you should definitely meet in person. Paseo de los Laureles V offers a modern and elegant lifestyle in a total space of 1,030 m². With the highest quality materials and a privileged location in the city, you will live the best moments with incredible views of nature.
Main characteristics: 4 bedrooms | 4 bathrooms | 2 drawers
Loma linda I $34,500,000 MXN $34,500,000 MXN
In an exclusive horizontal condominium of only 4 residences, is Loma Linda I, a dream residence for those who are looking for a comfortable, luxurious, pleasant and safe lifestyle for family living. The project is located in the west of the CDMX, in Lomas de Vista Hermosa, with a total of 697 m² and incredible views of the city.
Main characteristics: 3 bedrooms | 5.5 bathrooms | 8 drawers
In conclusion, the choice between buying a new or used home, or building one from scratch, depends on a number of individual factors, including personal preferences, budget and the specific needs of each buyer. Certainly, both options have their advantages and disadvantages, and it is important to carefully analyze all options before making a final decision.
Remember that at Nolab we have the most exclusive catalog of new and pre-owned properties in Mexico. Contact us and get all the information.
