Building your own home from scratch versus purchasing a finished home from a developer: What’s the wiser choice?

It depends…

The first question is, will you be purchasing directly from a builder or buying the land yourself and building from scratch?

If you’re buying the land and building from scratch, the question becomes how cheaply you can purchase the land and how cost-efficiently you can build the house.

Are you planning to hire a builder? Or are you planning to manage the project yourself and hire your own sub-contractors? If you hire a custom builder, you’ll likely pay more than what it would cost if you managed the project yourself.

If you can manage the project yourself, hiring builders and casuals directly, it’d save you a lot in terms of costs you’d otherwise be paying subcontractors.

In all sense, it’s much cheaper to act as your own builder.

Buying an existing house means you’ve accepted all the choices somebody made for that house, whether you like them all or not.

In building, you have room to adjust initial plans on the go: Like, let’s add a room here while we are at it. Oh, why not have a hot tub? Granite looks better than marble….

Of course, with so much freedom comes the burden of choice.

You need to make thousands of decisions.

If you have lots of prior home-building experience, those decisions will come easy. If not, you’ll struggle with them for endless sleepless nights.

Thankfully, you’ll have plenty of time as you’ll be working your way through those decisions over many months, between 12-30 months would be a typical range to build a home.

Then, once you’ve made your decisions, you’ll start seeing the results.

You hope you’re right on ALL of them. Every mistake or poor decision costs you time, money, and energy. You will find yourself spending countless hours at the job site to try to minimize mistakes and correct poor decisions as quickly as possible.

At the end, you hope to get the home you started with. If you got lucky and got most of your decisions correct, you might finish on time and you’ll be able to save a good 10-20% compared to a finished home.

One of the tricks to make a success out of a building project is have a steadfast financial partner. A financial partner has to have a platform that makes easy cash-flow management and record keeping.

It’s a plus, if the financial partner allows multiple avenues to access and manage savings, make payments – and the versatility for round the clock banking.


Co-op Bank has greatly revamped their e-Commerce platform to assist businesses meet the increased demand from customers in going cashless.

Going cashless has a lot of benefits.

A client has a variety of payment options available. In making purchases for materials, paying staff and keeping records, the Co-op Bank e-Commerce platform allows flexibility, safety and convenience.

There’s several options:

  • Online card payments
  • Lipa Na M-Pesa Till Number
  • M-Pesa Paybill 400200
  • M-Coop Cash

Visit the nearest Co-op Bank branch to learn more on e-Commerce, or check online by clicking here.

About this writer:

Kibaki Muthamia

Storyteller. SEO & UX Expert. Scriptwriter. CVs & Resumes. Biographies. [email protected]