Questions to ask before building a house
1. Can We Afford It
It may seem very cost-effective to build a home. While these numbers may seem appealing, it’s important to remember that construction costs can add up quickly if you don’t plan ahead. Even though lumber may seem cheap, if your build is delayed, this could increase the framing cost. While your land may look ready to go, additional surveying might be required. The price breakdown should be affordable. Make sure that there is enough money to cover any unexpected costs.
Calculate your options and only take on what you can pay. Marble countertops might be beautiful, but not if you have a limited budget. Your budget should be at least 10% of total cost to account for unforeseen expenses.
2. Do We Have Time and Patience?
It takes much longer to build a house rather than purchase an existing home. Building a custom home requires patience and time. For the most part, standard homes take 3 to 6 months to build. However, custom homes can take 18 months or more depending on how many problems you face. It might be a good option to purchase a home if you have a tight deadline.
3. Is Marriage able to Handle it?
My husband and i had only been married two year when we built our first home. It was a baptism in fire for a couple that were just getting started. I’ve tried my best to warn friends about how stressful building a home can be for a married couple. We made it through the process, but we had to endure 600 arguments about fixture finishes and paint colours. Builders, beware.
4. Is Our Lifestyle Stable
Building a home requires you to put in a lot effort and blood. Building a home is an emotionally charged decision that can hold you down for a long time. There’s a good possibility that once you build your home, you will be unable to stop working and exhausting yourself. A home builder may have to do a lot of work, and not be able to enjoy the rewards of your hard work.
5. What Are Our Wants & Needs?
Make a list. In the “needs” section, list all the things your home must include, such as a large play area for the kids or an open-plan kitchen. In the “wants” category, list the features you’d like but are not essential for your home-building journey. This will help you budget for your needs. If money is available, you can decide which of your needs you can afford.
6. Do We Have a Site?
Check out the available land for sale near you to determine how much you will pay. It is possible to find land at a lower price depending on where you are located. It is important to determine if you have the financial means to finance the purchase or if it will require cash. The costs of the land include permits, power, sewer hookups, excavation, and landscaping.
It is important to thoroughly inspect the land before you buy it. You will need to install either a septic-system or a water well. Is it possible for you to build in a prime location? How difficult is excavation to build a foundation. These are questions to be asked and discussed with your contractor.
7. Do We Have a Licensed Builder?
The single most important decision that you make when building a home is selecting a builder. It’s worth doing your homework and shopping around. You’ll find many. It is important to choose a professional and upfront builder. While making wild claims about the Taj Mahal’s construction costing less than $200,000 may sound appealing, they will likely exceed your budget. It is worth visiting the homes of particular builders and finding one who has similar tastes and values to yours. Then, find someone you like. It’s likely that you’ll spend a lot of your time together.
8. Have We Considered All the Pros and Con?
When you are ready to decide to build a home, take your time and consider all options. Consider the pros of purchasing an existing home over a built home in your price range. Your dream may be to build your dream home. However, it might be more practical to purchase an existing home instead and to keep that dream in the future. If the benefits outweigh your time, patience, budget, and financial limitations, then you’re ready to build your dream home.
It is a commitment to your family and yourself for many months to build a home. My custom house is like a second home to me. I wouldn’t recommend this to anyone, especially to couples who have been through a rough marriage. Before you decide to build your home, take your time.