You may have asked yourself or your partner whether you should buy a house that is already built or buy a land, build and plan on your own. Of course, one of the things that you are considering is the affordability of both options. To enlighten you on that aspect, here’s a comparison of the costs you’ll need to be aware of:
Building A House
Land Prices
In Cambodia real estate, the price of residential land in the outskirts ranges from $100-300 per sqm. If the purpose of constructing such a house is for people like you to live in it then that can be called a residential land. Residential properties that you may wish to build there include single or multiple story houses that are suited for a single family, or it may accommodate extended family members or guests.
Examples of where you can find such are in Siem Reap, particularly in the communes of Chreav, Slor Kram, Sala Kamreuk, and Svay Dangkum. You may also include Sihanoukville which also offers residential lands that are just awaiting developments.
Choosing to live close to the city where you work and play will mean that buying a residential land will cost you $1,000 – $3,000 per sqm. Such lands may be found within Toul Kork, Sen Sok, and Porsenchey. Takhmao, Takeo and Kandal are also popular areas where residential lands are much cheaper.
Construction Costs
When you have decided to get started with building the house of your dreams, the price of construction, which may include the clearing of the land, the framing, plumbing, putting together the electrical wiring, etc., is in the price range of around $250,000 to $350,000.
The professional services of architects, engineers and the builders will also mean that your budget for their expertise may extend up to $50,000, more or less (depending on the firm that you will select). One advantage of having professionals like them is they can guide you on which materials or design are best for your house based on your preferences.
Buying A Built Home
When you have considered the option of having your home constructed from the ground up and you find it too steep in terms of its affordability, then another option for you to consider is buying an already-built house.
Choosing a location where you want to buy one is a consideration that you and your partner must talk about first.
A popular option for housing among many people in Cambodia are gated communities called “Borey” which feature single, twin, hybrid villas, linked houses, shophouses, and flat houses.
Many of these are found in Phnom Penh and many developers are looking at expanding their construction in Siem Reap and Sihanoukville.
To give you an idea, the price range for boreys is between $750 to $1,700 per square meter as of 2019.
Such houses that are already built give you the convenience of not having to go through the process buying your own land, hiring contractor, planning, before starting the process of construction.
Remember, the decision on which option to take in finally getting that house where you can feel happy, rested and secure is in your hands. What will make it easy for you to decide is to be fully informed of all options before taking a course of action. Ultimately, what can give you and your loved ones happiness and peace of mind is that place where you can say, “I’m home.”
KH