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To Buy or Build A House? | A Comprehensive Look | ArkiTALK (English Subtitles) - YouTube
Channel: Karlo Marko
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Are you planning to get a house but you're thinking whether to buy or build?
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It's like when you're thinking about what to have for lunch?
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A home cooked meal or something ready to eat?
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A home cooked meal or fast food?
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Fried chicken or Chicken Joy?
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...it got harder right!?
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If you are one of those asking, which is better?
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...to BUY a house or to BUILD one?
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...then this video is for you!
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In this video, I will be sharing my thoughts as an Architect
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On what are the advantages and disadvantages of
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buying a house and/or building it from scratch!
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Hi! I am Karlo and I'm an architect.
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Somebody once asked me which is better...
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To buy a readily built house...
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...or to build it from scratch?
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Actually the answer lies on you... the home buyer.
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Which do you prefer better?
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...and to help you decide, I made a list
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...of I think are the factors to consider
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in this conundrum.
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By the way, I will be talking from the point of view of an architect.
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I may not be an expert when it comes to real estate...
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But with the bulk of projects I have had a hand or had experience with...
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I kinda know how it goes...
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Hopefully in the end it help you decide on which is better
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...or which is more ideal for you and your situation.
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Meaning you will be the first one to live in that newly built house.
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Which means that somebody else lived in the house previously
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That is why this video is fit for any type of house.
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Some of the factors here won't be too detailed...
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so that it can be easily understood.
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...depending on your agreement with your contractor.
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That's why the home buyer is sometimes forced to take a loan...
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...to be able to release a bigger budget
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...in order to acquire the house immediately.
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"pangungupahan"
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But more on your preference
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on the budget that is more ideal for you.
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Usually with a limited loan amount...
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...depending on your qualifications.
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Usually they require...
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...a complete set of designs and blueprints
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done and signed by an Architect
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...so that it will be approved for a loan.
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because that's where they will base the amount you will need
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to be able to build it.
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That's why you should get an Architect to help you in the documentation
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So you have a wider set of options when buying newly constructed properties... or RFO
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...and pre-selling properties.
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You may also consult an Architect or a Contractor
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...on what are the possible repairs in the house...
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This one is dependent on your monthly income.
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...it's very rare for me to hear someone taking out a loan for this option.
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That's the advantage of building your own house.
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The space and room options are unlimited...
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...depending on your budget of course.
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But still... having your hard earned money...
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...go to a house that was specifically designed for you...
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...is a dream-come-true for many!
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Especially if the house is inside a well-controlled subdivision...
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...or under a real estate developer with strict implementing rules and guidelines.
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Usually with limited design options and alterations in this type of housing.
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...and most of the time, the interiors are the only thing you can touch.
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If there is an over-all design theme or motif in the subdivision...
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there's a big chance that you cannot touch the outside or the exteriors
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Pre-owned house are not necessarily inside a subdivision...
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...many of them are outside these developments.
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That's why you are at liberty to renovate it if ever...
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You may need to apply for a building permit
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...at the Office of the Building Official (OBO)
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of your local municipality or city hall.
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Normally, exterior renovations are considered as a Major Renovation
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Especially when you're planning to alter the facade
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...or expand on the exterior.
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Limited alteration and renovation options...
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...because it is not your own property.
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Not unless it is for a long lease term...
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...for like 10 years or more.
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This will depend on your lease contract.
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Like what I've mentioned earlier...
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...you get to have the spaces that you want and need...
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...when building your own house.
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All your requirements are possible!
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Usually, these would be asked by your architect...
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...when you ask him to design your house.
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All of these are possible...
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...as long as it is within your budget.
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Some home buyers even consult with architects...
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...on the possibilities of altering the existing design...
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...and having it for renovation...
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...to be able to achieve the home buyer's requirements.
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So, in this option... customization is still a possibility!
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...on the over-all design and planning
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Although you have limited options...
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...because you have to consider...
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...the existing structural supports of the house.
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Very limited options for alterations and renovations.
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...because the house is not your own.
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The only thing you can possibly do is...
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...to reconfigure the layout of your furniture
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Where there will be future community developments...
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...or it may already be established.
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Because this is one marketing factor...
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...the developers take advantage of...
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...whenever they sell their real estate
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So you better check with your (real estate) broker or agent...
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...on what are the developments...
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...that are near the house you were about to buy.
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Especially if you're planning to build a family.
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It would be a big help if your house is near...
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That is why, some take advantage of...
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...buying properties that is a candidate...
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...for major developments in the future!
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This is one factor that is oftenly discussed...
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...when investing in a property.
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But here it goes!
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I will inform you on what are the stresses...
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...in buying a property.
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That is why... you should...
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...#getanarchitect
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In many instances...
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...you will decide together with your architect.
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And it can lessen the stress!
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Because you get to have a professional...
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...who will assist you.
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Building a house is no joke!
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Believe me...
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...when I say that those pictures you see on...
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...Pinterest, Instagram and other social media outlets...
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...it is not easily achievable!
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So better consult an architect...
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...for you to be able to achieve...
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...your house goals with less stress!
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It is not as stressful as building your own.
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Because everything has been built already.
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So there are not a lot of things to do...
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More or less, what you have to do is to check the...
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...quality of the house you bought.
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So your stress level here maybe similar to...
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...when building your own.
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The difference is you have limited options here.
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Because there's already an existing structure.
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The renovation process may be your cause of stress in this option.
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Not a lot!
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Possibly your neighbors!
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Since it's brand new and usually...
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...these would all be rectified by your contractor...
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...before it will be turned over to the client.
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As part of your contract
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This should be clean and properly turned over to you.
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That is the advantage of getting a legit contractor.
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Since it's brand new...
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...but if ever...
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...these would be rectified first...
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...before turning it over to you.
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Possibly a lot!
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It is more likely to have unforeseen repairs...
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...in an old house.
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These cannot be easily seen...
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...because some parts of the house are hidden from sight.
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Like those above the ceiling.
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That's why it is highly suggested...
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...that you be meticulous...
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...when inspecting the house...
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...if you're really thinking of purchasing it.
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And you should prepare a budget...
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...for renovation and repairs.
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Nothing.
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If ever...
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This would be shouldered by the land lord...
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...because this is not your property.
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...or the duration or lead time.
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I know for sure that others are already accustomed to this.
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3 to 6 months minimum...
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If you have enough budget...
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...and depending on the size of what you're planning to build.
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But if this will be done phase by phase...
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...this may take quite some time...
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...or this would still depend on your budget as the home owner.
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Especially when this is tagged as "RFO"
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or "Ready For Occupancy"
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Renovation may take 1 to 3 months minimum...
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...again depending on the quantity of the works to be done.
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One option in the event that...
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...you would want to profit from your property
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...is to have it sold later on.
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This can be higher than your construction cost.
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Especially if the value of the property increased...
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...on the area it is standing
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This will depend on the market value...
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...during the time of selling.
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"Pasa-Load"
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In the event that you can no longer continue the payment for your house...
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...you may possibly pass it to a interested buyer...
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...and you back the amount you already spent in your property.
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The price will depend on you as the "seller."
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There are instances where an old property...
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...is even more expensive than its original value...
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...due to the value appreciation of the property in that area.
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This is why you need to be choosy when selecting a property.
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Check out the major developments around the area in the coming future.
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So that in the event that you prefer to sell your property...
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...you may sell it on a better price.
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Because, this is not your property in the first place.
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In the end it will be up to you to decide...
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...on what suits you...
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...your situation...
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...and your finances most importantly
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My advice is...
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Set goals that will push you to work for it!
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...because on this channel...
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...there's a future.
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...but in the bulk of...
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In the end it will be up to you to decide...
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...on what is...
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