Building your new home is an exciting adventure, but it can’t be a passive exercise. There are many decisions to make not only by the builder but by you, the homeowner in order to have a result of YOUR dream home. We’ve listed the top 4 things you must take into consideration before you begin to build to help you decide if the time is right.
1. It’s all about the numbers
Run some numbers to determine whether you can afford to build the home you want. This usually starts with meeting with your builder and talking over house plans. Most builders offer a “cost to build” tool that will give you an accurate estimate of your construction costs depending on the house plan you choose and the area you are building.
Be sure to include costs of construction, tax benefits, funds for the down payment, and slush account. You will need all of the information before you arrange for financing. Keep in mind, home construction lending is different than mortgage financing.
2. Reputation is everything
All builders are not created equal. Research to find out which builders in your area have a great reputation. Try searching online for reviews, but don’t forget your friends and family. Most builders come recommended. Don’t be afraid to ask your friends their thoughts on their recent renovation or build. Be sure to find out not only about their quality of their work, but their ability to meet deadlines and their ease to work with.
3. Always have resale in the back of your mind
Though your goal is to build your dream house that you never want to leave, always be mindful of its potential resale value. As you add upgrades along the way, don’t add so many that you overprice your home for the neighborhood. Ask yourself if the features you’re considering installing are likely going to appeal to others.
4. Think Green
In order to maximize energy-efficiency in the design of your new home, do your research. Your builder can help ensure that you think green through the entire build process – just ask. Things to consider would include choice and placement of windows, placement of garages and laundries, choice of insulation, HVAC systems, faucets, and toilets.
Nova Constructors would love to help make your dreams come true. Contact us for an appointment to get started.