When building a house, there are many choices to consider – location, price, age of property, renovations, and potential resale value being just some of them.
With many variables to consider some buyers are choosing to build a property from scratch, thus obtaining a property on exact specification, and acquiring a property that totally fulfils the buyer’s needs.
This approach isn’t for everyone, however, and here we will look at some of the factors to consider when planning your first home-building project.
1. Location
The first factor on the list of building a house, and perhaps the most important one – location.
Find the area and neighbourhood that is the best fit for your lifestyle and current commitments. Is it close to your workplace? Is it close to your children’s schools? What are the local shops and amenities like?
Is a rural or city location important to you? Do you know the area well? Will properties in the location increase or decrease over time?
2. Price
Perhaps the second most important factor is the budget you are working within. Does the land have a large price tag? Are you needing to sell a property in order to invest in the new build project? Will you need to obtain a mortgage to finance the deal and if so, are lenders willing to loan the amount that you require? Does your current property require upgrading to fetch a higher price? Then learn how to improve your house to increase your chances of selling.
3. Builder
The next most crucial part of the puzzle is the builder you will entrust to deliver your dream home.
This decision should be firmly based on reputation, testimonials, track records, existing builds, warranties, insurance, and consultation.
Track builders design floor plans and selections, semi-custom builders, and custom builders. Take time to review the different types of builders and if possible, join web forums and speak with others who have completed new builds in your chosen location.
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4. The Plot
The land you buy will make a difference in terms of the difficulty of the building. Consider the topography, the levels, whether there are trees, bodies of water, risks of flooding, and the land-based material. Speak with your builder about the land and the potential for completing your design on it.
Building a home is a once-in-a-lifetime rewarding and positive experience that will see your development skills and learn how to work on a collaborative practical and creative project.
Naturally, you don’t have to know everything, but the more information and knowledge you have beforehand the better equipped you will be to get a better deal and negotiate on level terms with your construction crew. You can rely on others who have been through it before countless times to make the homebuilding experience a memorable experience.
Building a home is a reinforcement of the freedom we have to make our mark in the world. Be deliberate in your homebuilding decisions and you will enjoy your home for years and years to come.
