Building a new home is every bit as exciting as it sounds. In fact, when you take all the right steps, this may be one of the most enjoyable times of your life. To avoid costly and time consuming mistakes, it’s critical to take the necessary steps upfront.
Here are five steps to building your new home:
1. Set a Budget
This is priority number one, as your budget will impact every decision you make. In addition to doing your own homework, consult with a mortgage lender to better understand what you can afford.
Once you have a budget in place, you can work closely with your builder to get everything (or almost everything) you want.
2. Choose a Location
Just the same as buying an existing home, location is extremely important when building a home.
You can find your own lot or rely on the assistance of your builder. Either way, take into consideration details such as:
- Proximity to local schools, public transportation, and stores
- Traffic patterns on the road
- The size of the lot, as this affects the size of the home you can build
Don’t rush into choosing a lot just because you’re ready to start the building process. Selecting the right land is just as important as selecting the right home design.
3. Settle on a Final Plan
Maybe you choose a stock plan, based on a design your builder has worked from in the past. Or maybe you work with your builder to design a custom home from the ground up.
As you compare a variety of plans, answer questions such as:
- How big do you want the home to be?
- Are you interested in a single story or two-story home?
- What are your must-have features?
With so many options, work closely with your builder to settle on the plan that works best for you, your style, and your budget.
4. Get Your Team in Order
The nice thing about working with an experienced builder is that they can handle everything for you. In other words, all you have to do is choose a builder and take a step back.
From there, your builder will take care of bringing the necessary professionals into the equation. You don’t have to go out and hire your own architect. You don’t have to find a landscaping company to grade the lot and add curb appeal.
5. Negotiate and Review Your Contract
Before your project begins, you’ll negotiate and review the contract between you and your homebuilder. Make sure you’re comfortable with all the terms and conditions, as there’s no going back after you sign on the dotted line.
Answer questions such as:
- What is the overall cost of the project?
- Are you able to make changes to the design up until a predetermined date?
- What types of materials will be used in the home?
When you take these five steps, you’ll find it much easier to build a new home.
If you’re ready to tackle this process, don’t hesitate to get in touch. We’re happy to answer your questions, share our knowledge, and help you decide what to do next.