Building a new home is an exciting adventure, but one that requires lots of planning and consideration before breaking ground. Making the right decisions early on can save you time, money, and headaches down the road. In this guide, we explore what you should know before planning to build a new home.
Budget is one of the most important things to pin down when planning to build a new home. You should get detailed cost estimates and meet with builders/contractors to get estimates on materials, labour, and project fees as well as get quotes from multiple builders. In addition to the house structure itself, factor in expenses like clearing/preparing land, landscaping, driveways, utilities, furnishings etc. You can work with lenders to explore loan types like construction loans and pick options with rates/terms favourable to new builds.
To help budget you should understand payment schedules with builders and know down payment amounts and when progress payments will be due to effectively manage cash flow. Budget not just for building, but costs post-move-in like mortgage/insurance payments, utilities, HOA fees (if applicable), maintenance and repairs. You should also build up emergency savings funds just in case the worst does happen.
Budget realistically right from the start by working closely with finance and building pros. Continually review the budget and provide oversight during each phase of construction to avoid uncontrolled overruns, considering you might have to hire a concrete barrier among other things.
The location and neighbourhood will impact your lifestyle and home resale value. You should research locations thoroughly and consider commute times, amenities, school districts, local development/growth, and area home values. Carefully inspect potential lots and land, looking at size, terrain, soil stability, foliage, access, and any erosion or drainage issues. You should consider orientation for views and optimal sunlight exposure.
A precaution to take is to ensure the land is zoned for single-family residential and meets guidelines for minimum lot size, setbacks from property lines, and height limitations. As well as to confirm that water, electric, sewer, natural gas etc. are all feasible utilities to access from the street.
The house design is one of the most exciting and important parts of planning your custom home build. Make as many choices as you can before beginning the build. The design phase is really important as It covers architectural design and layout in addition to selecting your windows, doors, and other fixtures. Make important judgements early on. The more measures you take throughout the design phase, the more probable it is that you will adhere to the budget and schedule. Take your time assembling your own team. Like most of us, you will require assistance to finish the self-build. To discover contractors you can trust, ask friends for suggestions, look through internet reviews, and set up interviews.
When planning and constructing a new home, your long-term goals have to be your first priority. A standing seam metal roof is more costly but more durable if you’re building for the long run. If you intend to sell in a few years, you should think about the unique personalization that may not be desirable to buyers in the future as well as the resale value. The goal of planning and constructing a new home is to create a space that feels like yours. You want a healthy environment in which to grow and live. Your goal is to design a house that fits your needs, feels safe and secure, and offers a space for rest and refreshment.© Copyright 2023 Antonia, All rights Reserved. Written For: Tidylife