Our first ever post! Here we go, how exciting!
Building a new home is one of the biggest decisions you’ll ever make, trust us, we know, we have built three homes in our lifetime so far. One mistake would definitely put all your savings to waste or you’d end up spending more even if you don’t want to.
Building a new home involves time, money, and effort. Aside from that, it also implies that whatever your plan is, you should be taking things seriously and with great care. For builders, this may seem like an easy task to accomplish, but for you, you no doubt consider this project as something very precious– you’ll be creating their dream home, how exciting! Thus, you should take part in the planning, as well as the supervision of the whole project.
That said, as you plan to build your home, aside from zeroing-in on the right neighborhood, there are plenty of things that you must consider. Below you will find a list of what we consider to be the most important things to consider when building a new home…let’s get into it:
1. Keep Track of the Numbers
Before you start scouting for a good spot to build your home, it’s vital that you think about the possibilities involved in this project– will everything fall perfectly into place or you have to adjust something? If you have a particular design in mind, make sure to ask your builder to provide you with a rough estimate so you’ll have the idea of how much it’s going to cost.
Don’t forget to include the construction costs, tax benefits, initial down payment, and other related calculations. If it seems like you’re going to need some help financially, then consult the financing institution you have a contract with. Keep in mind though, the home construction lending norms are usually different from the usual mortgage financing you’re probably familiar of.
From our experience, if a home builder advertises a new home will cost X dollars, add 15% for extras that you will no doubt want i.e. better tiles, better lighting.
2. Build Reputation
There are plenty of builders in the market who would be more than happy to lend you a hand. However, not all of them are capable of doing a remarkable job and meeting your requirements. Thus, you should look for a good builder whom you can easily connect with.
Also, don’t forget to check the reputation of the builder. There are instances where even smaller builders are capable of doing a remarkable job– these are the ones that you should be hiring.
3. Have a Foresight
When building a home, you should also be thinking ahead; in a sense that you might consider selling your property later on. That means you should stay away from any unnecessary upgrades nor overprice your home with reference to the particular neighborhood you belong to. So, when adding features, try to think what the potential buyers may want.
For our Canada readers, here is a handy inforgraphic from Rentseeker.ca which explains the salaries needed to buy a home in Canada. It is useful to keep this in mind when determining if your upgrades are going to mean your house is overprices when you try to sell.
4. Green Homes
Electricity charges keep on rising. That means you should think of ways on how to conserve electricity. This can be done through the use of eco-friendly materials capable of maximizing the energy efficiency of a home.
It’s highly recommended that you work hand in hand with your builder and draftsman as you try to understand how the placement and sizing of windows can affect the energy efficiency of a home.
As much as possible, opt for eco-friendly materials and the use of solar power– this includes choosing an HVAC system, as well as the insulation materials. They should be energy efficient.
I am sure you have heard of the Telsa Powerwall. Basically, a huge battery pack that will allow homes to save a considerable amount of money on electricity costs, in case you haven’t heard about it you can check out this short video.
5. Consider Expansion
If you’re thinking of living there for a longer period of time, like for several decades, they you should make it a point that you’re going to leave some scope for additions and expansions. Through this, you would be able to save a lot on future costs.
Don’t forget to create a detailed list of outset as well. Pay attention to this list and as much as possible, it should include everything you need, such as the features that should be part of your home. For example, if you’re thinking of adding a small spa to your poolscape then you should be jotting this down on your list– don’t forget the power saver lights that must be installed, or the feature wall with special nature stone cladding.
Pay attention to the windows you’re going to use in every room and make sure that you include this on your list. By doing so, you’ll be able to save a lot of time and money once you start with the construction process. Make sure that your draftsman includes these things as well, because they must be added while your house is getting built.
By following these tips, you’ll be confident that your dream house would finally turn into a dream come true.
We hope your enjoyed this article, we would love to know your thoughts so please reach out to us if you would like to have a chat.
Charlie and Barbara