The real estate market at this point may be able to supply buyers with unique and affordable opportunities, but finding a home that matches your ‘dream home’ in every detail – budget included – is generally very unlikely.
Every property you’ll find on the market is essentially created based on another person’s concept of the perfect home and incorporates features in accordance to the popular architectural trends at the time when it was constructed. Furthermore, while you might be able to find a house that’s designed to your tastes and the most you can change is the wall paint, what happens when it’s located in an area you don’t like or can’t afford?
Building your own house – with the help of an architect and a contractor team, of course – is by far the solution that provides the greatest versatility, not to mention satisfaction once the project is completed. Let’s find out what you should remember before taking on this laborious task.
You’ll encounter unanticipated expenses throughout the construction of the house, and it’s better to be prepared for them by establishing a flexible financial plan. For example, if the terrain where you intend to erect the house features several large trees that are in the way, you’ll have to add the costs of taking them down and transporting them off your property into the equation. Alternatively, you may decide halfway through the project that you’d prefer a more expensive material for the countertops or the flooring. Remember, every change you want or are forced to make alters the original costs.
In addition to the financial considerations, modifications to the original plan or unforeseeable events also push the scheduled completion date forward. It’s worth noting that strict deadlines are rarely feasible and you need a contingency plan to help you mitigate the impact of not meeting them. Let’s assume that you’ll be required to vacate your current residence on the exact day when you expect the new home to be inhabitable, but plumbing and power will only be up and running at least two weeks later. If you planned ahead and have accommodation options ready, it won’t affect you that much.
You might want to be there for every major step of the construction to ensure that the contractors are actually respecting your exact specifications. However, it may not be an option when you’re working a 9 to 5 job, have children or an elderly parent who requires attention and supervision or other personal obligations. Remember, home construction isn’t a hobby that can be tended to during the weekends or on your spare time. Collaborating with a reliable team of contractors minimizes the time you’d need to spend onsite to check on the progress.
The unpredictable occurrences mentioned earlier require an immediate response on your part. It falls under your responsibility to establish the next course of action when, for example, a certain plumbing system is not in accordance with local building codes, or when the supplier has just run out of the insulation materials you ordered. You should consult with the contractors to receive an expert opinion on what the options are, but don’t forget that ultimately the decision is in your hands.
In the absence of a plan that covers all major aspects of the project, you can’t institute a budget or a schedule. The preparation has to account for material delivery dates, blueprints, permits, contractor team, interior design, furnishings, plumbing, landscaping, so on and so forth. Learning that you aren’t allowed to install a certain type of roofing because it conflicts with local codes mid construction and after the materials have already been purchased can certainly put a damper in your project. Again, when the construction company you’re working with has been in the business for a while, they possess the experience and knowledge to advise you on such matters in due time.
By now you might have noticed that building your dream house from scratch is not what you would refer to as a walk in the park. Problems will arise throughout the development, some of them more unpleasant than others. It’s important not to lose sight of your definitive goal, which is to create the perfect environment for you and your family. Don’t let the tiny setbacks knock the wind out of your sails and try to retain the same level of enthusiasm you had when you first started the project. A positive outlook on things will always get you further in life!