HOW TO START BUILDING YOUR NEW HOME

It’s finally time to learn how to start building your new home, whether you’re the young couple who have been building up a nest egg for years and are finally ready for the next big step up the ladder of life. Or almost at retirement and decide it’s finally time to get that dream home so you can stretch out your feet and get some well deserved rest. Whether it’s a new project in the suburbs or beach front property with the outdoor hammock, home building goes through the same basic steps.

So follow us as we break it down for you and start on this journey towards building your new dream home.

1. Plan Your Budget

Building a house isn’t as easy as walking into a dealership and picking out a new car, it’s even harder than planning for a child. Careful considerations have to be made about so many things, a budget has to be drawn out before even considering the project to determine it’s financially feasibility. The type of housing has to be considered, as custom nontraditional projects can be pretty high end. The cost of the lot (if one has not been purchased already) can be as high as one-fourth of the total budget. Plan not only for the obvious things, but hidden costs too, think about new installations, appliances, utility taxes etc. It is advisable to get a professional opinion from an accountant and not just family and friends or even the contractors. Have them look over the details with you and help you determine what is possible and what isn’t, so adjustments may also have to be made to accommodate the current budget.

2. Choose Your Lot

If you have not already purchased a lot it’s a good idea to put it in your budget, as purchasing and surveying a lot can be as high as 25% of your total budget. Choose a lot that suits your building plan or you can adjust your building plan to better suit the lot. Discuss with your realtors for things like zoning costs, drainage, utilities, the ground survey, soil type, nearby buildings, schools, factories and other important details before before purchasing the lot. It’s always a good idea to have a private survey done so as to cover all corners.

3. Draw the Building Plan

It’s usually at this stage that the full magnitude of the project hit’s you. That you finally understand that all your hopes and dreams are finally becoming a reality. So chose what you designs you want, whether a traditional house straight out a stock catalog or something more custom made and suited to your needs, the choice is up to you.  Sit down with your contractors and the architect, look over the plan, your budget and all the details gotten during your various investigations. Then make a concrete (pun intended) plan without ambiguity about the building process, costs, time frame and expectations. Don’t forget to be flexible and make room for unforeseen hindrances or costs. Sit down with your contractors and make sure you tell them clearly what you want and also get their feedback to know what is possible and what isn’t.

4. Choose Your Team

Choose your team wisely, because you’ll be working very closely with them throughout the project. Select the people you feel you can trust, who are professionals in the field and who also wont be afraid to tell you the truth about the state of affairs. Interview various contractors until you feel you’ve found the one just right for you, lay your vision  before them and get their feedback. If you feel they truly understand your vision and can execute then you seal the deal. Don’t rush this part of the process, because you are entrusting them with not only your money, but your hopes and dreams.

5. Get Your Permits

This is a vital stage most people overlook. Luckily if you’ve planned to hire a contractor they will be required to get all the permits needed. If you plan on doing an owner builder job and In the rush to start building as soon as possible most people forget to make sure they have all the required permits and licensing by the relevant authorities. Not only does this help prevent you from running afoul with law, it also prevents unnecessary costs and charges in the future.

6. Start Building Your new Home!

As simple as it seems, this may actually be the most difficult part of the process. Negotiate a deal with your contractors, agree on building material quality, the expected time frame and various other key elements of the job. Then put that all into action and watch your dreams unfold.