Are you looking to build your new dream home?
Building your own homes can be a rewarding process. You get to pick exactly how they’ll look and how they will meet your needs. But if you’re going to end up with that perfect dream home, you need to know what might crop up and get in your way.
Don’t worry, we’re here to help! Read on for these six mistakes to avoid when building new homes.
1. Not Reading Contracts in Full
You must read all contracts in full before you hire your home builder. These agreements should include:
- all relevant project details
- projected schedule of works
- cost forecasts
- who has responsibility for any delays or unexpected costs
Now is not the time to fall asleep through the fine print or ignore it altogether. It’s a good idea to hire an experienced lawyer to look it over before you sign on the dotted line.
2. Not Having a Contingency Plan
If you want to stand the best chance of house building success, you need to plan for a few things to go wrong.
For example, what if you’re going to miss the project’s completion date of your home? How will that affect your mortgage costs? Or living situation?
You should go into the project expecting to go over budget too. And you should have a contingency fund set aside, in case you need it.
3. Being Too Laid Back
This is going to be one of the biggest investments you’ll ever make. So don’t get complacent, or be too passive. You need to be present and involved in any decision making.
Get copies of your builders’ insurance policy. If someone gets injured on site, but the builder doesn’t have insurance, it’ll be you who has to foot the bill. Also, once work is underway it’ll be hard to make changes. So make sure you know what you want before work starts.
4. Building a Home That Doesn’t Fit the Surroundings
Before work starts, consider how your home plan fits your surroundings. If you’re in an area with other houses, consider the size of your house to others nearby.
The largest or smallest home in a neighborhood is often the hardest to sell on, so bear that in mind. The outside styling of your home should also fit in with others close to you. A modern cube will look out of place if your street is all Victorian.
5. Trying to Cut Costs Too Much
Beware the builder who offers to build your home $50,000 cheaper and in less time too. It’s likely that this offer is too good to be true.
You have to factor in as well that a significant drop in price likely means a drop in material quality too. Here’s a helpful checklist so your house meets all regulations and safety standards.
6. Picking a Bad Location
Do you think it’s convenient to live near the grocery store, gas station, or mall? Yes, it would be. But it’s not something buyers often ask for and could affect resale potential.
Busy stores mean busy streets, and that’s not appealing to buyers looking for a family home. Don’t got for the cheapest lot, or only what you think is convenient. You should think about future resale if you ever do need to move.
Building New Homes Made Easy
So, there you have it! Now you know these 6 mistakes to avoid when building new homes, you can prepare yourself.
This is your home, so go in with a clear idea of what you want and be present in decision making. Make sure you vet your builder and go with someone experienced and trustworthy. And have a plan if things go wrong.
If you found this article useful, check out our other posts today!