Is it cheaper to build or buy a house?

Question

Accepted Answer

Generally, buying a prebuilt house with land is cheaper than building a new one. There are some exceptions when it comes to the demand for building materials, whether the market favors sellers or buyers, the general condition of homes for sale in an area, and the cost of labor. As the economy fluctuates, it’s important to determine what you’re prepared for when considering buying vs. building and if you’re willing to wait for more supplies to be available and affordable or for more houses to appear on the housing market.