7 Things to Consider Before Building Your Own Home
It can be a struggle to find a home that has the right amount of space, in the right neighborhood, and for the right price. Rather than compromise, many people decide to contact a new home builder. For others, the idea of building a new home seems overwhelming. How much will it cost? Where will I build? How long will it take? Who will build it?
If you’ve considered building a new home but still aren’t sure, then consider these seven things. Once you consider each, you will see that finding the right custom home builder is the key to having a positive experience.
1. Be realistic about building costs and know your numbers.
It’s easy to get the “I wanna’s” when building a custom house. During the initial design phase, your builder can help narrow those down to fit within your predetermined budget.
2. Find the right building location.
The building site is not something you can change later and the location is extremely important for resale value. Also, consider what type of landscaping will be needed. Is the lot wooded? Is there a water feature? Will you have to build retaining walls?
3. Understand building loans.
Construction loans are a bit different than your typical mortgage loan. Make sure you talk with your lender and find out what you will need to qualify.
4. Build with resale in mind.
A custom home, built to grow with your family, should last you a lifetime. However, job changes and the unexpected could mean you have to sell your home in the future. Always build with that in mind.
5. Get professional plans.
You will need a set of drawings in order to qualify for bank financing. The loan officer will want to see the scope of the project and “appraise” the home before it’s built. You will also need a comprehensive quote from your builder and a timeline for the project.
6. Expect the Unexpected
It’s hard to anticipate every event before it happens. Permits get held up. Weather doesn’t cooperate, and sub-contractors get delayed. For those reasons, you should always allow for some flexibility regarding the timeline for your project.
7. Choose a quality home builder.
Finding the right custom home builder is a must if you want your project to run smoothly. Look for one that’s established and has a good reputation. Ask for references and drive by some of their builds.
Sheffield Homes has built custom homes for families in the Denver metro area and in northern Colorado for forty years. Contact us today and find out how easy it is to realize your dream.
