Buy or Build in Zimbabwe? The Ultimate Cost Showdown for Your Dream Home

One of the most common questions among aspiring homeowners in Zimbabwe is whether it’s cheaper to buy an existing house or build one from scratch. The answer isn’t straightforward, as it depends on various factors such as location, size, quality of materials, and personal preferences. In this article, we’ll explore the costs of buying versus building a house in Zimbabwe, using real-life examples and statistics to help you make an informed decision.

Cost of Buying a House in Zimbabwe

The property market in Zimbabwe offers a wide range of options, from affordable starter homes to luxury estates. Here’s a breakdown of the average costs of buying a house in different areas:

1. Urban Areas (Harare, Bulawayo)

• 3-Bedroom House: $50,000 to $100,000
• 4-Bedroom House: $80,000 to $150,000
• Luxury 5-Bedroom House: $200,000 and above

Example: In suburbs like Borrowdale or Glen Lorne, a 4-bedroom house can cost upwards of $120,000,while in areas like Budiriro or Kuwadzana,a similar house might cost around $60,000

2. Rural Areas

• 3-Bedroom House: $20,000 to $40,000
• 4-Bedroom House: $30,000 to $60,000

Example: In rural areas like Mutoko or Masvingo, a 3-bedroom house can be purchased for as little as $25,000.

Cost of Building a House in Zimbabwe

Building a house allows you to customize your home to your exact specifications, but it comes with its own set of costs. As of 2023, the average cost of building a standard house in Zimbabwe ranges from $80 to $150 per square meter. For high-end finishes, the cost can go up to $200 to $300 per square meter.

Here’s a breakdown of building costs for different house sizes:

1. 3-Bedroom House (150 square meters)

• Basic Finishes:$12,000 to $22,500
• High-End Finishes: $30,000 to $45,000

2. 4-Bedroom House (200 square meters)

• Basic Finishes: $16,000 to $30,000
• High-End Finishes: $40,000 to $60,000

3. Luxury 5-Bedroom House (300 square meters)

• High-End Finishes: $60,000 to $90,000

Example: In Harare, building a 4-bedroom house with mid-range finishes could cost around 35,000,while in rural areas,the same house might cost $25,000 due to lower land and labor costs.

Buying vs. Building: A Cost Comparison

Let’s compare the costs of buying and building a 4-bedroom house in Harare:

1. Buying a House

• Cost: $80,000 to $150,000
• Pros: Move-in ready, no construction delays, established neighborhood.
• Cons: Limited customization, potential for hidden repair costs.

2. Building a House

• Cost: $35,000 to $60,000 (excluding land)
• Pros: Customizable design, potential to save on costs with careful planning.
• Cons: Time-consuming, requires oversight, risk of budget overruns.

Real-Life Example: Buying vs. Building

Meet Sarah, a Harare-based professional who faced the dilemma of buying or building a house. Here’s how she made her decision:

• Option 1: Buying
  Sarah found a 4-bedroom house in Borrowdale for $120,000. While the house was move-in ready, it didn’t fully meet her design preferences.
• Option 2: Building
  Sarah purchased a stand in Glen Lorne for $40,000 and built a 4−bedroom house for $50,000. The total cost was $90,000,saving her 30,000 compared to buying. She also got a house tailored to her needs.

Sarah’s experience shows that building can be cheaper, but it requires careful planning and patience.

Factors to Consider When Deciding

1. Budget: If you have a tight budget, building might be more cost-effective, especially in rural areas.
2. Time: Buying is faster, while building can take several months or even years.
3. Customization: Building allows you to design your dream home, while buying offers limited options.
4. Location: Land and construction costs vary significantly between urban and rural areas.
5. Hidden Costs: Buying a house might come with repair costs, while building can have unexpected expenses like material price hikes.

Tips for Making the Right Choice

1. Research Thoroughly: Compare prices of existing homes and construction costs in your desired area.
2. Consult Professionals: Engage real estate agents, architects, and contractors for accurate estimates.
3. Consider Long-Term Goals: Think about your future needs and how your choice will impact your lifestyle.
4. Factor in Additional Costs: Include costs like permits, utilities, and landscaping in your budget.

Conclusion

Whether it’s cheaper to buy or build a house in Zimbabwe depends on your budget, timeline, and preferences. Building a house can be more cost-effective, especially if you’re willing to invest time and effort into the process. On the other hand, buying a house offers convenience and immediate occupancy.