Are you gearing up to have your first-ever custom home built? Whether you’ve already reached out to architects and contractors or whether you’re simply thinking about having your dream home constructed from scratch, preparation is of the essence in order to avoid unpleasant surprises and headaches later on during the home building process. No matter what geographical area you’re interested in or what architectural style of home you may have in mind, there are several universal rules of thumb that can ease the process and help you get ready for an exciting journey to your new custom home.
1. Plan Out Your Home Design With Your Future in Mind
Before you finalize your home’s blueprints, you may want to get custom home builder pictures from your contractor to help give you inspiration for the home. It’s often practical to plan out a home design with your future in mind. For instance, you may wish to have space for:
- Future family expansions
- Space for visiting friends and other guests
- Home offices for remote work
- Gyms for exercising
- Spacious yards for children and pets
2. Work With Your Contractors To Create a Realistic Schedule
One way in which the custom home building process differs from the typical home buying process is the construction schedule that can determine how quickly you’ll actually be able to move in. Although the average construction time for a new home is around seven months, this can vary. Make sure you work with your contractors to plan enough time for steps such as:
- Design conception
- Architectural plan drafting
- Securing necessary administrative permits and permissions
- Gathering building materials
- Building the physical home
- Inspecting the home for safety regulations
3. Consider Investing in Home Features To Build Up Equity
Although you may be tempted to skimp on certain home features during the construction process to save money up front, remember that you may be able to increase your home’s value and build equity by choosing to incorporate high-value, sought-after home features in your plans. For instance, some top-dollar features that can boost the value of your new home may include:
- High-quality kitchen finishes, lighting fixtures and bathroom detailing
- Breakfast nooks and eat-in kitchen spaces
- Front and back yard landscaping
- A fully finished basement
- Brand-new appliances
- En-suite bathrooms throughout the home
4. Get Ready for the Financial Impact of Building Your Own Home
Before you proceed with home-building plans, it’s essential to ensure that you’re prepared for the financial impact of building and then owning a brand-new, custom home. The home construction process involves numerous expenses that can easily add up, so budgeting well is crucial. Make sure you’ve planned for, and can afford to pay for, expenses such as:
- Materials and labor expenses
- Mortgage payments and construction loan payments
- Frequent home maintenance costs
- Any applicable HOA fees
- Energy bills
- Cost of furnishing the space
- Regular property taxes
Getting your very own custom home built can be an exciting time as you draw up blueprints for your dream home and then work to transform that dream into reality. You can get ready for the custom home building process and prepare yourself for new home ownership by working through these four basic steps.
