re: Is there any benefit to buying a home vs building or vice versa?

I like to build because you can implement specific items that’s not much more on the front end. For example, I wanted my basement receptacles wired with #12 cause I have some high amp drawing power tools, had the basement floor poured extra thick because of using a floorjack on the cars...stuff like that.

All of that is true, it is difficult to build your own home and be the GC, but if you are patient, diligent, a good negotiator then you can do this and save money.

Of course your time is worth some money but each individual would need to scratch that out for themselves. I did it and the savings was worth it and had a huge equity built in. It took me a little longer to build it, but I got quality subs, and some phases were quicker than others.

It was a fun experience as well.

Do you know anything about economics? The seller nor the agent make up a price, it’s determined by what someone is willing to pay you dipshit. When you finally own something yourself you may start to get it.

I bet your walls are tan, hardwoods light, and your tile is brown. Good luck trying to sale.

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s. You have a period pf maintenance free ownership, then that fricker is a money pit. I build every 5-10 years to avoid repairs

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utter retardation

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Just buy a house that already there. You don’t need anything special Bc you aren’t special.

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A-freakin’-Men!

Generally nowadays there’s an applicable corollary to the adage “A lawyer who represents himself has a fool for a client” as to being one’s own inexperienced GC without at least a Construction Management-type to assist in the building process.

A large percentage of the population (> 90%) cannot build a quality modern house better, more quickly, and more cheaply than can a GC/professional CM can.

And the less than 10% who can will have to invest a bunch of intellect, education, time, blood, sweat, and tears to do so.

I’ve been around the process since Bush 41’s presidency, it is much harder today than it has ever been to effectively self-contract on many fronts.

tl/dr: The vast majority of folks who try to self-contract end up taking longer and spending more with a lesser quality end product than if they’d have found a competent, honest GC or Construction Manager to handle their project.

And then they lie afterwards (sometimes even to themselves) and say they saved money and time and got a better house.

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Homes are no different than cars

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I always make 20-30% in equity doing this

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What kind of cars are you buying if you make 20-30% return every time you sell?

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Is there any reason why should I buy someone else’s old home at a price some stay-at-home, old insurance sales realtor dictated and is out of their mind pricing? Especially when considering that I can build a larger, nicer, newer home for the same amount of money?

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The only one of those that is a guarantee is "newer". The rest have too many variables.

What type of land can you buy?
Is it developed?

Acreage in rural areas is less expensive than more developed areas for the most part but it also normally lacks things like:
Water supply
Electricity run to lot from feeds
Sewer/Modad system
Driveway

You see a lot in a subdivision selling for 70k and think it is outrageous because there is an acre in the country for 25k so you go rural. Then you spend 10K to have trees uprooted and the rootbeds repacked with clay (can't cut them down and grind the stumps baw your slab goes there!), another 8 grand to have the property leveled off so that it will drain and make up your dirt pad (assuming you are at or above flood plain), better pack it down and rock or pour in a driveway, pumper trucks only reach so far, find out exactly how much a well digger costs, The electric company will bring you power from the feeder at cost (this will be the most reasonable offer you get through the process).

It can be great and in a LOT of cases it is worth it, but don't assume that it is cheaper because in this scenario you have sunk a bunch of liquid cash into the project and you haven't even poured concrete yet.

I always tell people to buy or rent a home for a few years first, so that you know exactly what you love and hate about that home before you build because unless you are building houses specifically to sell for a profit there is a chance it may be yours for a while.

A local bank will do a. That is how I did it. Big banks blow. One just has to have their ducks in a row.