Building vs buying?

I know there are many many variables, but what percentage can one expect to save by building their own place instead of buying? I am looking for a 3 bedroom 2 bath place about 1200 sq ft with separate maids quarters and dirty kitchen...

 

I'm just guessing, but I'd say you can save what, 40-50% of the cost of a new house to build one yourself?

 

That depends on many factors...namely, how much you are paying for an existing house and who builds the comparable new house.

If you are comparing the cost of a newly built subdivision home, built by the developer versus buying a lot (at a reasonable price) and hiring a good, non-cheating contractor to build a comparable house...you may be looking at as much as 50% less.

Maybe you are discouraged by the extremely high listing prices found on most properties here (especially those on the net). However, it may consul you to know that it is typical to ask two or even three times the fair market value of a property here. (You are expected to negotiate, you see...)

Depending on the standard of house you are building, most seem to be spending between P15,000 to P20,000 per square meter for construction. (Exclusive of the lot, landscaping and add-ons.)

 

If you know what you are doing, like a few guys here I talked with, and you manage all tasks, they were successful, some had engineering backgrounds and enjoyed the project. My next door neighbor is going through a nightmare using local people to help him build. I was quoted p18,000-20,000 smtr when I talked to different contractors to build my house. Prices vary by the quality and products you use. ie, granite, stainless steel, what kind of roof you put on, etc. There is a lot of experience on this forum that can tell you the good, bad, and ugly. Good luck. If you decide to use a builder and want to send me a pm, I can tell you about the one I used.

 

You have to see it to believe it.

About those listings, if you look closely you will see that most of those photos are actually a few years old. Most likely the RE agent is using the best photos available but when you actually go see the homes they are usually much more lived in than the photos show so take them with a grain of salt.

 

Reminder for oldsters and out-of-shape types.

Building your dream home in the Philippines will be one of the most stressful things you'll ever do.

I've got a neighbor, poor fellow, that had a stroke within the first couple of months working on his house project.

So, unless your acclimated to the heat, in good shape and with the patience of Job, it may be best for you to buy something already constructed.

Just a tip....

 

Manza, you bring up a real good point. I couldn't imagine the stress, frustration, and aggravation trying to build my own house here, traveling over to Cebu to get stuff because out of stock here, maybe people stealing your stuff, I had enough of that watching my own house being built. How long did it take you to build your house? I know your house is bigger, it took my builder 8 1/2 months to clear, backfill, and build. At times he had 32 people working on tasks. I would think supervising 32 locals would drive you crazy or the alternative to use only a few and take forever to build, like my neighbor.

 

Stress

People have pointed out the stress.... I built my place last year. You have to be on site 24/7 and have the patience of a saint. Your electrician or plumber doesnt show one day so you have a knock on effect. Keeping an eye on the big things is no problem, how many hollow blocks bags of cement etc... But the small things that can be easily removed, electrical sockets, nails, screws and so on, drove me half mad. Im 38 but after the six months building it can age you lol Whatever you chose to do i wish you the best and im sure people here will gladly help with their experiences

 

Yeah, I'm sure whatever course of action I plan to take there will be lots of help here on the forums...

 

I have a background in construction and I am building farm buildings in the mountains over on cebu. I have gone the route of hiring the crew myself with a lead carpenter. We have a good relationship, I am not concerned about theft or anything like that in fact its been fun. I see it as my hobby. I love building things but I will say this, it takes forever to get anything done. And I can see how something like a residence would get to be a real headache trying to keep track of everything. I could see beginning with an existing structure as being a time saver as well as less stressful