You have decided to embark on the journey of building a home. Needless to say, it is both an overwhelming and exciting experience. Apart from having all your finances in order, you need to work with a reliable builder who will be committed to bringing your dream home to life.
Remember, this is no exercise for the faint of heart. You must be ready to make solid decisions in order for your home to turn out exactly as you desire. Looking to get started? Here are 5 tips when building a home:
- Choose a builder with the best reputation
Granted, there are many builders out there, but all of them do not have similar reputations. There are those who are barely venturing into the business and others who are already at the top of their game. It is always best to research to find out the reputation of various builders.
Only choose those who are registered with the National Association of Homebuilders. (NAHB), as they are more reputable. Recommendations from friends and family also go a long way.
- Have your finances in order
Only begin a homebuilding project when you can afford it. Run some numbers beforehand to determine the costs that you will incur. For instance, consider the nominal fee you will pay for the house plan as well as all the additional construction costs, tax payment, and related
Builders may also require down payment before the construction process begins. Acquiring a loan from the bank can also be helpful. However, in order to get construction lending, you will buy the lot and then make monthly payments on the construction as it is being built.
- Build with re-selling in mind
Even if the house that you are building seems like your dream home now, it is impossible to predict the future. Who knows? A few years down the line, you may want to sell the home for various reasons. As such, it is important to build while being mindful of the home’s potential resale value. Choose to add features that may be appealing to others and avoid any unnecessary upgrades.