Between 2010 and 2019, home builders created more than 7 million new homes. With so many existing structures in place, this leaves many people wondering if building a home is really a good idea.
Though you can easily buy a pre-built house, those structures will never feel like the home of your dreams. Worse, renovating the property to fit your vision can cost as much as the home itself.
Building a custom home is almost always worth the investment. But before you start, you need to think about a few key factors.
1. Where You’ll Build
Before you can start looking for contractors and figuring out what types of architectural styles you love, you’ll need to know where you’re going to build your home. Think about the types of locations you love most.
Is there a specific part of town that you want to live in? Or do you already have a plot of land that you want to turn into your dream property?
If you’re not sure where you want to build your home, you can always look for new developments in your area. These allow you to take advantage of a completely new house without having to secure a dedicated lot on your own.
2. How Much You Want to Spend
Once you have a location in mind, you’ll need to set your budget. Think about how much you’re willing to spend on everything, not just the construction work itself.
This should include the land you’re building on, the house, the appliances, and everything you need to make the house feel like home.
The average cost of building a new home ranges from $150,000 to $450,000 depending on the types of features you want.
Look at your savings and think about how much of that money you’re willing to use toward a down payment on the project. Then, start looking at the types of loans you’ll qualify for.
Remember, you need to know what you can afford to spend on the project before you speak with builders.
3. Who You’ll Hire Before Building a Home
Once you know where you want to build and how much you can spend, you need to hire the right team to help. According to the team at BGC Home, you need to find a builder that understands your vision and can bring it to life.
Look at their portfolio closely and make sure they’re able to build the type of home you’re looking for. If you have any hesitation about hiring a specific contractor, keep looking.
Keep These Things in Mind When Building a Custom Home
Building a custom house is one of the best ways to create the home of your dreams right from the beginning. Just make sure you consider these three factors before you start building a home.
When you do, you’ll be sure to enjoy the experience without breaking the bank.
Once you build your home, you’ll need to put your personal touches on the interior. Check out our latest posts for more tips to help you create an interior design that showcases your personality.