Building your new home is one of the most exciting things you’ll ever experience so you want to make sure that you do it right the first time and get everything you want when it comes to your home’s design. There are plenty of things that you should consider when you’re doing some new construction so let’s have a look at some of the most important things for homebuyers to keep in mind when they’re looking to build.
Check out your options
Start by looking into the neighbourhoods you’re considering and make sure to thoroughly investigate the home styles, options and available lot areas. Some subdivisions are contracted with specific builders only and those builders also have certain limitations. Take a tour around the neighbourhoods to see the area, the home’s general sizes and the quality up close.
Gather your funds
There are plenty of lending options available for anyone looking to build their own home. Talk to your bank about what lending options they offer and what kind of financing they can give you, then check around to other banks to see if they happen to have a better rate for you. Even just a one or two percent difference will save you thousands over the years you’ll be at your new home.
Once you have that worked out, you can create a budget for your home and land purchase. Obviously, you should try and stay under budget but when it comes to the building part of the process, it’s more than likely you will end up going over budget and planning for that is a good idea. Borrow what you think you’ll need plus 5% extra to help with any unexpected expenses.
Pick your plot
Whether you’re choosing to build in a subdivision or build in the middle of the forest, the lot you decide on will be the first of many decisions you make so make sure you choose the one that suits your needs. There are many factors to consider like drainage, the condition of the ground, how to connect to local lines, and any building codes that might come into play when you’re building and hiring a contractor is a great idea if you’re struggling to navigate some of these.
Choose a builder
If you’re looking for a building company, then this is one of the few times you want to read as many reviews as possible. Ask friends and family, look online and do as much research as you can into finding a builder that suits your needs, budget and time frame. It’s good to get at least 3 contractor bids before you make your decision on who to hire.
If your neighbourhood has a limited number of builders you’re able to select from then check out the model homes that the builders usually have available to tour. Keep in mind that these homes are usually upgraded as much as possible to show off every option so if you see something you like, ask if it’s standard or optional.
Design it
Your home’s overall design plan will depend on whether you’re choosing a stock home or a custom build. If you’re choosing a stock home then you’ll have a limited selection to choose from but you’ll likely be able to see how it looks with the modern design programs most companies use.
A custom design is great for anyone looking for something unique and the pros suggest hiring an architect to make your plans exactly the way you want them. An architect will design the home based on the area along with the homeowner’s needs so you’re able to get the most out of the design of the home.
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Get detailed with your design
Picking a kitchen off of Pinterest is a good idea for inspiration but the photo doesn’t tell you the materials used for the countertops, the type of drawer track style used, or whether the tiled backsplash is actual tile or not.
You’ll need to get detailed when it comes to your ideas if you want to stay on budget and get what you’re looking for. If details like material choices are not discussed then the contractor will likely default to “builders grade” materials to save some money. Using cheaper materials can sometimes lead to very expensive repairs in the long run so keep a clear line of communication when it comes to costs.
Get it all written down
Before anyone even steps onto the site to start building, make sure you have a solid contract and building plan in place. If you’re hiring a general contractor then they will likely have one agreement for you to sign that will indicate the specifications of the home so you both agree on what’s about to be built before it starts.
Make your contract as specific as you need to before you start the build and also make sure to have it amended if something needs to be changed during the building process. Even something that might seem small like changing the type of wood used for something specific can change the price drastically for either side so amend the contract as soon as something changes.
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Monitor the progress
After your house has started to be built, make sure to check up on it periodically to make sure your plans are being followed. It’s a good idea to get a good relationship with your contractor so they can provide you with detailed updates if you’re not able to stop by the site. If you see something that doesn’t look the way you envisioned, it’s ok to speak up and bring it to someone’s attention so it can be fixed before it’s too late.
If you’re thinking about building a new home then make sure to keep some of these ideas in mind. Do as much research as you can on everything before you start building and you’ll have a great chance of finishing with your dream home.
