If you are seriously thinking building a new home, instead of buying one, it can be incredibly tempting to begin your thought process by thinking about what would make your dream home. However, there are some steps to think about even before you should get to this point. Even before you hire a builder, you need to have an accurate and logical idea of whether or not your budget will allow you to build a house in the location you want, and you also need to think about how much you want to be – and can be – involved in the building process.
The main first step is to think about and then make a decision on who you want the building contractor/builder to be, who will build your house.
There are two obvious choices. You can hire a builder who will organise everything on your behalf and will deliver the completed project, or you can do everything yourself. This involves all stages: house building from original budget and the schedule you’d planned, through to the design and building of the house. You’ll also have to buy the materials. You will need to decide between the relative ease but high cost of a contractor and the commitment and responsibility you will have, doing it alone. You may also want to think about how to develop buildings and structures in feasible and cost-effective ways.
Your budget obviously dominates your decisions, so it is essential to spend quality time on it and to be ruthless when it comes to the numbers and deciding what you need and what you don’t necessarily need. As well as calculating what payments you can afford, you need to include any down payments that you have and other cash that you will get during the time the house is being built. You will also need to consider the costs of running the house, and this may include taxes, utilities and any sort of maintenance. These, of course, will just be estimates until you complete your house. They could go way over or under your budget.
You need to be aware of all the costs that are associated with building a house. Some of the costs may include architect fees, materials, and labour work. You also shouldn’t forget other costs such as building upgrades and additions, inspections, and unexpected events. Remember also to think about any new appliances, furniture, flooring, and interior decorations, as well as exterior work such as your lawn and landscaping. If you may need to find accommodation such as a hotel while your house is being built, you should think about those expenses, too.
Selecting the area where you want to live is essential. It is important to make a list of everything that you will need to have access to, such as schools, shopping and public transport. If you have a family, then locations which attract people with children and have playgrounds will be worthwhile.