Is It Cheaper To Build or Buy a House in 2024

The cost of buying a home has risen so much that only the to 15% of income earners can afford an entry level house. So the question is, is it cheaper to build one instead? I'll break down the numbers and show you the cost of building real estate.

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Kris Krohn is not in the business of providing personal, financial or investment advice and specifically disclaims any liability, loss or risk, which is incurred as a consequence, either directly or indirectly, by the use of any of the information contained in this document. If legal advice or other expert assistance is required, the services of competent, licensed and certified professionals should be sought. In addition, Kris Krohn does not endorse ANY specific investments, investment strategies, advisors, or financial service firms.

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The contents of this video are for informational and educational purposes only. They should not be considered investment, financial, legal or tax advice. Kris Krohn is not licensed in the insurance or securities industries and is not in the business of selling, soliciting or negotiating the sale of any insurance contract, security or other investment vehicle.

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[bryanp]

We need a bust. Housing prices are out of control. I bought my house 6 years ago and it’s gone up almost 300k in value. My house in the 60’s was built for roughly 60k. To build it today would cost 900k in my area.

[kaomatic]

i don’t know how i can make $50 an hour and still not afford even a simple home in my area

[reaganjames]

Born 1997, the older generations had it easy compared to us.

[scottdoesntknow]

I'm agonizing over this right now. I have all the skills to build a house, yet am waiting on the appraisal for a $300k home right now that I'm looking to buy. It's a good home, but when I think about the amount of money going to interest on that, it makes me sick. I feel I would be better off buying some land and just building something, but I also don't really want to wait for my first home right now. Idk what to do

[ACEO]

Something that stood out to me from this video was your mention of the construction workforce aging. For any young people currently lost the way i was when i joined the force, i would recommend it. Im a carpenter making over 100k a year with my coworkers making the same or up to 150k with our boss likely pulling 200k+. This type of work wont make you rich unless you start your own company or invest, but its very rewarding and can provide for you and your family.

[marybowers]

Rates aren’t going down for a while, when I got out of college rates were up to 14%, we have a ways to go. You won’t see 2% again, that was done to correct the market. So as the rate goes up values will adjust. That’s the nature of the market. Sellers will be forced to start lowering the prices which we are already seeing in most markets. They are kicking the can down the road reluctantly, with 5 and 10k reductions. This is exactly what happened during the last crash in 2008.

[AwtaMadik]

They aint lowering rates this year sorry

[mikekolokowsky]

Investing in the stock market isn’t a “loser game”. I bought and sold two houses in my life, and I LOST money on the first, and made only 3.5% compounded on the second. It’s not a guarantee.
On the stock market, I have invested money in a 401k and brokerage and I’m a millionaire because of that. Very rare to have three down years in a row, and over 30 years, it’s hard not to make money.

[Athithan_]

Is “the rate coming down” meaning $50K
off of $350K or $50K off of $100K?🤔🧐

[brianmbaker]

You lost me at, I added a 28, , 0000 square foot addition to my house"

[mgmedia]

Great video man! Straight to the point and still interesting 🙌

[angieburnham]

Thank you for the straight forward content

[iowawizkid]

I've had a part-time small business on the side for the last 12 years. It started as an extra $300-$500 month. Now it's over $20k a month at times. still working the main job, but ready to walk and do my own thing whenever i want. Investing the extra into real estate, because when I quit, I am fully responsible for making my retirement income happen.

[justinb]

I'd rather own real estate than stocks. I can improve land, I can't improve stock prices.

[ayden]

I’m not really understanding how a 401k is a losing game. Even with this massive skyrocket in housing the average increase year over year in the last 10 years is a little under 5%. Most mid-aggressive 401k’s return 5-8% which is out pacing real estate. When you combine this with the costs of closing, selling and maintaining real estate, unless you’re cash flowing on renting out your properties I don’t understand how a 401k is a losing way of investing.

[strawberryme]

I think we will see 100k DECREASE if not a major crash of many things. not sure why you would think it was going to go up?

[sunnycali]

I am in that dilemma, build vs buy new. I want to invest but an old house is not something I want to deal with. Thanks for the insight.

[ezhno]

You vill live in ze pods and eat ze bugz and you vill be happy!!!

[lazypandaland]

2:00 bro started speaking in minecraft 😭

[moralsworld]

“right now I’m looking to build a 28, 000 square-foot edition to my home”


🙃 me rn