The idea of being in control over the building of a new home, for many people, is a fantastic buzz. It doesn’t have to mean doing the contracting, it can mean managing with oversight, but either way, being involved is immensely rewarding.
A benefit of self-build is you get to see the construction. You can oversee the quality of the work. You can make decisions and alterations. Sometimes at a cost, but the results over time become worthwhile. Just knowing that the construction was done properly is very rewarding and gives peace of mind.
Most people have to accept buying a home that is completed. Often, you can put your personality into your home, but you don’t get to the core of the building. The electrics. The plumbing. The wood. The bricks. As such, you have to trust all these are sound.
In our local area, a builder sells completed properties, and whilst the end product looks good, over time, there are always niggles and problems. “A coat of paint can hide a multitude of sins.” as the saying goes. The trouble is that the homeowner never gets to see the quality (or not) of the build whilst in construction. They have to rely on and the builder doing a ‘proper’ job.
If you had the choice, would you choose self build or not?
If you had the choice, would you choose self invest or not?
Both are much more satisfying. Both are more rewarding. Both mean you take back control.
The Wealth Coach, an independent financial advisory firm based in the UK. Nic Round, Chartered Wealth Manager.
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