Are you planning to build your first home? Congratulations, you are making one of the grandest steps in life, the one that will define your future and help you pave the road to long-term happiness surrounded by your loved ones. Now, as much as the entire project feels exciting, building a home still is a cumbersome task you shouldn’t take lightly. In fact, there is no telling what could go wrong on the road from inception to finalization, so let’s take a look at the primary considerations you should keep in mind when planning your first home construction project.
Plan your finances thoroughly
First things first, you want to consider home building like any other business project – it needs a concrete plan with a detailed financial assessment and a realistic budget to boot. After all, numerous factors will determine the costs of this endeavor, which is why consulting professional project home builders can help you determine what you can and cannot achieve within the specified financial projection.
Keep in mind that among the cost-defining factors, size, location, design, and materials will play vital roles, so it’s important to consult experienced builders in order to maximize savings without sacrificing quality or your wishes. It might seem like a stretch, but with a bit of prudent planning you can find the balance between available finances and the ideal features you want for your new home.
Consider the neighborhood and its advantages
It should go without saying that you should settle for nothing less than the perfect neighborhood for your current needs as well as the plans you have for the distant future. With that in mind, you want to write up a comprehensive checklist of the essential amenities you want in your neighborhood.
These should include excellent public transport and connections to the rest of the city, supermarkets, a choice of good schools, plenty of playgrounds and parks for those family outings, a police precinct, a fire department, as well as a hospital, all in relatively close proximity to your property. Naturally, building in such a prominent area will cost more, but the added expenses will definitely be worth the safety and convenience that come with the location.
Gather your A-team
Your contractor can make or break the entire construction project, which is why taking the time to gather numerous bids from numerous contractors in order to find the perfect fit will be essential. Think about it: this is the team that will build your new home, so it’s only natural that the architect and the chief construction engineer need to connect with you on a deeper level. They need to understand what you want, why you want it, and how the design can benefit you on all fronts.
Don’t get caught up in the moment
Speaking of a great design, many modern home builders make the inadvertent mistake of not planning far enough into the future. While your current wishes do need to be realized, it’s crucial to now build the features you’ll need five, ten, or twenty years in the future. This way, you will be able to build “in bulk” and eliminate the costs of extending areas of your home later on.
Plan for the unexpected
Lastly, there is no telling what could go wrong along the way, which is why having an emergency fund in place to cover any slip-ups, unpredicted fees, upgrades, and changes is imperative. As a general rule of thumb, adding 10% of the total construction costs atop of your budget will be able to cover all unforeseen expenses.
Building a home is definitely no walk in the park, but that doesn’t mean that you cannot ensure a smooth construction project from start to finish by following a few key steps. So, let these tips prepare you for the challenges ahead and help you build the home of your dreams.