me and my soon to be wife are trying to figure out if building or buying a house is cheaper? and whats a good down payment price were thinking like 30-40 grand ?

Cool...I can help you out here..

Depends on what you are looking for

1. Resale factors

Age, condition of structure, property size, neighbourhood, taxes, resale value, wear and tear on the home and maintenance. Also real estate commisions. What is your budget? What are the mortgage rates. $30 000+ is an excellent deposit. Best thing to do is to try and make 25% of the total cost.

2. Custom Build

Lot size, lot cost, design costs, construction and material costs. Usually the design, and construction is way cheaper then resale. However depending on where you live, property may be expensive. What is your program (wish list for the house). If you buy a new home being built by a developer then payments are broken up over the time of construction, plus you have creative control over the "fit and finish" or the home.

Good luck Jim!!

intrest rates are really low these days, so you may save 80grand in intrest but most homes have gone up in price just about that much, I bought my house 7 years ago and I payed 110 (lol they where asking 140kcan but they wanted to sell. fast), I couldnt resist getting it, bar downstairs. 5 bedroom, 3/4 acre lot, no back alley, 100ft drive way, nice so I can leave my garage door open without worring about someone taking my dirtbike (who would weaste time running up a driveway that long?)

I got my house appreased at 250kcan this march, well im thinking about getting a acredge, but that means working for a few years. lol, I like working half years but there isnt a whole lot of pipeline welding going on till after sept.

Well I am looking at the same thing. Just happens that in this area the prices on housing are low and I could not build something for the same price as buying. But What I do like about building is that you can make the house very energy effecient and everything is new and can pre wires for network, speakers in every room, build it the way you want it the first time.

But on the other hand if I was going to try and buy a house back in Ottawa, forget it, the price of housing is crazy.

I would suggest looking at the housing in your area, and also find a house plan that you like and get an estimate on building it ( usually the lumber store can give you a general idea of how much for labour and material ) , then look at lots in your area, do the math and go from there.