There are many advantages to building. You can build exactly what you want because you design the house. Sometimes it is even cheaper to build than to buy, depending on market conditions. With building, you get new appliances and housing systems, so repairs in the first few years are generally less. And you can pick the location of where you want to build, assuming lots are available.

However, building also has disadvantages. It may be difficult to interpret building plans, such as the size of rooms, if you are unfamiliar with these plans. Building, like renovating, often exceeds the budget and has delays if not done correctly by competent labor. Building also necessitates additional expenses for a yard and fencing. There are also expenses for construction-loan interest and rental costs that are incurred while you are waiting for the home to be built. Most importantly, there are high monitoring costs, in terms of time and money, high stress tolls, as you make the myriad decisions about the house, and high risk that the project may become more expensive than planned.