by 
KayJ
ANSWERS: 4
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With todays market I would say it is cheaper to buy a foreclosure.
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This all depends on your budget and what kind of house you want. If you build (which we did 4 years ago), please keep in mind that there are ALWAYS add-ons and extra costs/upgrades that will add to the price. Our extra costs included upgrading our fireplace facade, upgrading our numbers on our house and even upgrading to more outlets in our garage. And, don't forget landscaping. That can be huge depending on how much you hire out. Even if you do it all yourself, it's costs a lot. We are just finishing our landscaping (4 years later!). I hate it and that is a BIG negative to building if you ask me! Good luck with your decision.
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You can buy extremely cheap houses, if you have luck or make some compromisses. You could buy a cheap readymade house. As to build a house, you will probably not make everything yourself, but the more you are prepared to do yourself, the more you will be able to spare. You could also buy a house and made some renovation work.
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If you already own a lot, you will get a much better quality house for the same money as you could buy one, or a cheaper house if you aren't concerned with quality. When you buy a house, especially in today's market, you have to be very careful to have a thorough inspection, because the first thing homeowners cut back on is the maintenance when they know they are going to lose their house. If you are careful, you can probably find a very cheap, satisfactory home.
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