Before you decide to build a house, you must first consider whether the process is right for you and if you have enough money to afford it. These are the two most common newbie home-building mistakes, but there are many others you should be prepared to face along the way as well.
Can You Afford to Build a new Home?
On paper it looks very affordable to build a house, but you’ll encounter many costs that are unplanned for like fluctuations in the price of materials and additional surveying needs for your property. This is why you must have some wiggle room to work with in case you encounter any of these setbacks or some type of mistake occurs. Of course, you don’t want to get in for more than you can afford so make sure you pad your budget by at least 10%.
Do You Have the Time and Patience to Build a new Home?
It will take you much longer to build a house than it will to buy one. This is an important consideration: Do you have 3 – 18+ months to commit to this process (depending on whether you want a stock build house that takes less time or something that’s completely customized and takes more time)? If you’re in a rush to find somewhere to live, building a new home isn’t the right option for you.
What do you Want and Need in a new Home?
Before you get too far into the home building process you must sit down and create a list of wants and needs. This will help you budget accordingly then if you have money left over, you can add in some of your wants.
Where do you Want to Build a new Home?
Look at the properties that are for sale in your area to see what you can expect to pay. Remember, price per acreage varies greatly by location. Before you find the “perfect” piece of property on which to build a house, make sure you either have financing or cash available. Don’t forget you’ll also need money for things like permits from the city, power and sewer hookups, and any excavation and landscaping that you must complete.
Don’t simply settle on a property until you investigate it thoroughly. Think about:
- How far are power and sewer lines from your property?
- Will you need to install a septic system or a well?
- Is there a good spot to build on?
- How difficult will excavation be?
Who Will Build Your New Home?
Choosing who will build a house for you is the biggest decision you’ll face. You’ll want to spend some time doing your “homework” and shopping around to find someone who’s:
- Upfront and professional: You don’t want someone who makes wild promises because they’re shady.
- Willing to give you a tour of some of their finished homes so you can see if their tastes and philosophies are like yours
- Able to get along with you since you’ll be spending a lot of time with them
Did you Weigh the Pros and Cons?
Take your time to consider all of your options. While you may dream of building a custom home, it may make more sense to buy a home instead. However, if the benefits do outweigh the time, patience, and budget concerns, you’re ready to build your own home. If you’re ready to make this commitment, Done Rite Roofing is ready to help you to install a roof in your new house. They’ll work with you to weigh all your options and recommend the best roof for your new house. Get in touch with them today!
Picture Credit: Capri23auto