More and more people today go into debt across North America and most of the developed world. This takes a toll on people’s prospects to build their livelihoods. Because of piling amounts of debt, young people today are faced with an important question about their futures -will they manage to save up for a house, and should they build it themselves or buy one up and ready?

Well, there are answers to these questions , but you will have to consider a few factors that often differ from one person’s experience to the next.

Buying a House

Buying a house is an important step. It means that you are prepared to put the down payment and start covering your mortgage. Interestingly, in the United States 54% of people who cannot afford a home right now, cite the down payment as the biggest hurdle before them.

With this in mind, things are definitely not bright for would-be home-owners. They have to account for price fluctuations, financial prosperity of the regions they are planning to buy in, and more. With Millennials refusing to marry, more people are going it solo today and purchasing a home is not exactly uppermost on their lists.

However, for those who are ready to settle, the trouble only begins. When you are 30 and looking to settle down, as happens with many people, a slow realisation downs – property is very, very expensive. Buying a property will cost you quite a bit and that’s why many people these days prefer to buy something small just so that they have it to their name and feel safer about the future.

Those who are only beginning to save up for a house in their 30s might feel challenge. Buying a house could take 20 years, then again – it could take most of one’s working life. Perhaps an alternative exists.

Building a House on Your Own

Now, this sounds like a lot of work, but there are ways. Hiring companies like Honka, a house-building company that is based in Finland and puts together fantastically designed log houses, is just one way to go. The prices are lower than most buildings and the houses are usually done in three months.

Well-isolated, warm and a great sight for the eye, these Scandinavian cabins can be perched in any environment. Maintaining them usually means applying lacquer every few years to make sure the sun doesn’t bask them.

So far as price tags go, building the home could cost as much as $1,000 per square metre. This includes the price of the materials and the work put in by the company. Simple extrapolation would tell you that having a 150 square metre house would then cost you a little more than $150,000, which is an acceptable sum all things considered.

This is not a bad bargain at all. Have you ever tried to win real cash playing slots at online casinos? Well,this is the equivalent of hitting a progressive jackpot.

The Challenges to Buying Your Own Home

As previously noted, financial difficulties certainly make the top of the list as to why people can’t afford homes readily. Well, there are other factors as well and they are just as determining. Marriages aren’t as common and if people start families these days, they tend to do it in their 30s. This also pushes back the time when a person can actually consider buying a home.

Other than that, some people focus on pursuing a career while others may feel uncertain about settling down and would much rather continue to be on the go and travel. Mobility is important for certain types of people and being tied down to a mortgage is a burden.

Building Your Home Gives You More Choice

Many people are happy to own a house, but if you prefer to customise your own home and choose what’s in it, you should consider the upsides that come with building a house on your own, or with the help of a contracted company:

  • You can customise it from the start and introduce a solar roof

  • You can lay out the a garden as early as the blueprints

  • There is a way to organize your living spaces according to your specific needs

Ultimately, the decision lies with the individual. The financial barriers to owning a property today are many, but there is also a sort of satisfaction that comes with managing to save enough to afford one’s own home.

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