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Which is better taking a mortgage,buying or building your own house?

Mortgage Banking Accounting taxation Finance
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Question added by Deleted user
Date Posted: 2014/04/01
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Deleted user

i think a mortgage is abit expensive rather than building your own house,in essence for a mortgage you end up paying for the interest rather than cutting down on the loan

Hassan Javed
by Hassan Javed , Assistant Manager , A.F.Ferguson & Co. (PwC Pakistan)

There are multiple factors to this decision:

  • Availibility of Cash / resources
  • Other financing options
  • Availibiilty of free time
  • House building skills and experiance
  • part of the world where you live in

If someone does not have any issue of resources then he/she should go for building a house depending on his/her taste and requirement.

 

Mortgaging a house is good option when requirement of house is temporary. .

 

Buying a house is more viable when someone running out of time for building it.

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