Building a home is an exciting adventure, but there are a lot of things to consider to ensure the home construction process goes smoothly. It also pays off to spend some time to make sure you're prepared to build a home so it doesn't turn into a financial burden.
Before you take on constructing your home, here are several things you should consider.
1. Your budget
The first and most important thing to consider before building your home is knowing exactly how much you can spend on the project. Home construction can range anywhere from $117,000 to $499,000, excluding the purchase and preparation of the lot. The numbers can increase depending on the ZIP code and the finishings you want.
In addition, you'll also need to factor in the pay for contractors and the costs of getting the necessary permits.
2. The location
When you've got your budget settled, it's time to look for the location of your new home. Before you purchase a lot, take some time to research the history and other important details of the space.
To check the history of a prospective lot, you can scour online resources or visit the city planning office. Spending time to research the lot's history allows you to ensure that you are not building your home on top of a former landfill or a site with hazardous materials.
Apart from the lot's history, check if the property is near good schools, transportation, and work opportunities.
3. Your needs
Before building a home, consider what you'll need now and in the future. For instance, are you planning on hosting family gatherings and dinner parties? If so, you might need a larger kitchen and dining room. Are you a remote worker? You might need a spare room that you can easily convert into a home office.
In addition, you also need to estimate how much storage space you need to avoid packing your garage and closets to the brim.
4. Your contractor
Your dream home can't become a reality without the help of reliable contractors. But before hiring one, spend some time to ensure they are perfect for the job. Some things to look out for when finding a contractor include their online presence and customer reviews, referrals, photos of their past works, and model home tours.
5. Your long-term plans
Lastly, you should consider your long-term plans before building a home. Do you plan on living there until your retirement years? Do you plan to sell it in the future? Your plans should factor into your choice of design and material for your new home.
If you're building with the intention of settling down permanently, you could choose a standing seam metal roofing, which lasts longer. You could also consider adding certain amenities that might appeal to future buyers.
READ MORE: House for Sale: These 5 Amenities Make Your Home More Valuable