Building your own home can be an exciting and rewarding adventure; however, before you begin there are 5 tips for building your own home that may help such as planning your budget. Plan early about how much you can afford to spend, in comparison to how much your new home will cost. In addition, find out what size loan you qualify for. This will help you modify your building plans so that your budget can be met.
Another tip is to choose your lot. If you haven’t bought a lot yet, talk with several realtors to get estimates of land costs. In most cases, 20 to 25 percent of your home will go toward the land. Factors to investigate are soil condition, zoning, drainage and building codes. In addition, keep in mind there will be hidden expenses. Be sure to budget for taxes, utility costs and home insurance. Costs that will not be included in the building contract may be an upgraded kitchen, home furnishings, and wiring for Internet connections and carpeting.
Choosing a plan for your home is another tip. Newer homes are built using plans that come from a printed catalog or an online store. Also, the builder may make changes in window style, room size or other details. Obtain ideas from catalogs and talk with a building plan professional. He or she can help you choose the best plan for your needs.
In addition, you will need a group of experts to design and construct your home. These experts will be a builder, a surveyor, an excavator and a home designer. You may also want to hire an architect. The last tip is most important. Be sure to get a written contract, one that has been signed and dated by the builder and the designer.
Most importantly, a building contract should describe in clear terms the project and include a listing of all parts to be included in the house. If detailed specifications are not included, your new home will be built with cheaper materials. Make sure that everything in the contract is listed. Also, remember that you are in charge of this important project. Be prepared to meet the challenge of making quick decisions.
To conclude, building your own home can be an exciting and rewarding adventure. To ensure that your finished home will be built your way and follow the above 5 tips for building your own home.