If you are thinking about whether you should build a house or not, whether it is the right time to do it or you should wait, whether there is a right moment for it at all, then the text that follows is for you! We have consulted agents, statistics, economists,
philosophers, psychologists… all with the intention of helping you to make the right decision, looking at it from as many aspects as possible.

Now! The right moment is now. All research on human happiness and life in general shows that acquiring a home is one of the top five happiest events in life. Building a house defines us, gives purpose to our lives… Building a house is building your own happiness! Then why wait? Before you begin to list your reasons and barriers, let us state our ultimate position:

There are no obstacles – only challenges and no reasons – only excuses!

When it comes to the economic side, it is almost certain that acquiring a home is the biggest purchase in life. If you take on the organization of the construction or decide to build it yourself, it will certainly be the most challenging venture of your life. All of which suggests that this is one of the biggest decisions in one’s life. The fact that it is large does not mean that it should be postponed. Here’s why!

Is it financially profitable to build a house when you are younger?

Statistics support this. It offers the best value. In most cases, the long-term effects of homeownership delays are not fully recognized.

Young adults nowadays are less likely than past generations to own a home at the same age. There are several causes. Today, people expect to have a higher salary over time, get married later, and have children later. Delaying homeownership, though, might cause them to produce less wealth overall.

27 percent of older persons bought their first home before age 25, and 50% did it between the ages of 25 and 34. However, just 37% of household heads between the ages of 25 and 34 and 13% of those between the ages of 18 and 24 currently own a home.

These earlier purchases have had a big influence. By the time they reach their sixties, people who bought their first house between the ages of 25 and 34 have the most housing wealth. Their median home equity at 60 or 61 is very nearly $150,000.

Although the median home equity of people who bought their homes before the age of 25 is $130,000, it’s crucial to comprehend why those who bought the earliest don’t end up with the largest median home equity.

The youngest buyers purchase homes at cheaper prices, have lower incomes, and have less education. They had a median first-home value of less than $70,000, compared to the other three categories’ typical first-home values of over $125,000.

The biggest return on their property investment was achieved by these younger homeowners, despite the fact that they had less equity on average. With the first age of homebuying, the ratio between median home equity at age 60 or 61 and median price of the first home declines; it is highest for those who bought their first property before age 25 and lowest for those who did so after age 44.

Greater home equity for those who bought their first houses when they were younger comes from home price growth and paying off their mortgage debt. In comparison to others who bought sooner or later, those who bought their first home between the ages of 25 and 34 live in more expensive homes in their sixties.

When they are older, those who bought before the age of 25 have lower median property values (as would be predicted given their lower educational attainment), but because they have owned their homes for longer, they have smaller mortgage debt. Their median remaining primary is far smaller than that of the other three categories, at less than $11,000.

People who are approaching retirement rely more on their wealth than they do on their income to maintain their standard of living. The largest single source of wealth, housing, is not creating money for today’s young adults at the same rate as it did for earlier generations. Don’t join their ranks!

Whether it is sociologically and psychologically justified to build a house when you are young?

When you own a home, you’re in charge. You can customize the appearance or the layout to suit your style, make improvements that add value, and grow deeper roots in the community you live in. You don’t need permission from a landlord, and you don’t need to undo all of the great things you did in order to get a security deposit back.

Are the people who build houses young, rich?

For rich people, building a house is one of the first priorities. They recognize the right period to build.

A relatively small number of people decide to build a house for themselves, compared to the options of buying ready-made houses and apartments.

One of the main reasons for this is that they are constantly waiting for the right period in life for it. However, the right time is now. Money is never enough, it will never be, and you will never be younger than you are now.

As a source of data we used the Panel study of income dynamics of Urban Institute from 2015.

Proverbs 24:3-4 – By wisdom a house is built, and by understanding it is established; by knowledge the rooms are filled with all precious and pleasant riches.