Building a home is a big project. Even if you have years of experience under your belt, each home you build will be different from all of the others. The materials, the land, the floor plan, the amenities….just when you think you’ve seen it all, here comes the chance to learn something new yet again.
In this post, learn from the experts about home building tips you can take to heart to lessen the stress, time and money involved in building a home.
Tip 1: Map out your building timeline with care.
Even the most meticulously planned timeline may come up against some unexpected delays. Weather, illness, changes at work – all of these and more can impact how closely you adhere to your timeline.
But without that timeline as your accountability partner, you risk letting your home project drag on and on. So do your best and adjust as you go.
Tip 2: Build some extra funds into your budget “just in case.”
As with timelines, budgets too have a way of encountering the most unusual unknowns. It may take putting spade to ground before you discover that un-excavated old swimming pool beneath your lot, for instance.
But by adding in a little extra to your budget, you can ensure you do really have sufficient cash reserves to build your home even if you pick up a few extra expenses along the way. Your stress level will thank you for budgeting with a cushion!
Tip 3: Hire the right help.
Just as you don’t want a total stranger watching your kids, so too do you want to avoid an unknown worker building your new home. You can learn a lot by asking friends and neighbors for referrals to home builders, researching a builder candidate online and just asking for a portfolio of recent projects.
By doing your homework in advance, you can ensure you partner with a builder and construction team you can trust.
Tip 4: Factor in the total costs before applying for your mortgage.
If you mortgage only the cost of the home structure, you may have an easier time getting your loan. But you can end up with a lot more debt on the back end by purchasing major appliances and extras outside your mortgage at high credit card interest rates.
The best case scenario is to apply for a mortgage that includes as many eligible home building expenses as possible so you pay the lowest amount of interest over the long term.
Tip 5: Don’t over or under-build for the community you are moving into.
Before choosing where to build, carefully compare your vision for your dream house to the houses in that neighborhood. Proceed only if you see a match.
Not only will building a different type of house from what already exists not endear you to your new neighbors, but you may find it difficult to sell your home when that day comes.
Tip 6: Keep it classic (your resale value will thank you).
Finally, if your dream home is very trendy or unusual in its exterior look, you may want to reconsider. There are ways to personalize and customize that are less permanent and will make less of a potential impact on your home’s resale value.
By keeping your design as classic as you can, you can adjust for home buying trends at the time when you decide to sell without a lot of extra remodeling expense.
By taking these six home building tips to heart, you can learn from those who have gone before you and keep your time, stress and extra cash outlay to a minimum during the building process. Best of all, when your home is complete, you will have the satisfaction of a home well and wisely built!