Everyone has their dream house. Even though you could be perfectly happy with the home you’re in now, you may always have that perfect dream house. It could be a little cottage by the sea, a two-story brick house on top of a hill or something completely random like a house that is made entirely of stones and has a 50-inch TV in each room. We’re not here to judge, it’s called your dream house for a reason.
Perhaps you’ve thought of adding onto or building your own home. It might be you want to add another bedroom, expand the deck or you just bought your own piece of land.
What are some of the first things you need to be doing? Check out the list below.
Watch the Red Tape
Unfortunately, we are not living in 18th century American where you could simply wander far enough away from a village, choose a piece of land and start building your house.
You might have to go to the bank to apply for a loan and not all banks are alike. Some may readily approve your request while others will kindly show you the door. You will also need to pay construction taxes, property taxes and a mortgage may not come into play until much later.
If you’re adding on, you’ll have to make sure your plans are up to code. The worst thing you could do is get halfway through building to later find out you’re not abiding by code.
Plan for the Future
Look at your current life right now. Are you single? Are you recently married? Do you have children? Are you planning on having children?
While you obviously want to make your house comfortable for your current situation, you also need to think about what lies ahead. If you and your partner are planning on having children, make sure you’re adding enough bedrooms or a playroom. Design the house how you’d like it 10-15 years from now.
You’ll also want to think about resale value. While your home may be perfect for you and your family’s needs, what happens if you decide to move? Will your home be a tough sell on the market or is it one that could be sold easily? It might be weird to think about you not being in your house, but you’ll want to think far into the future for the next phases of your life.
Consider the Money
Anything with real-estate is bound to put a dent in your wallet and building a house is no different. The average costs range anywhere from $300-400,000 and that could greatly fluctuate if you’re planning on customizing your house to a certain degree.
You’ll need to be able to think about what you can afford and what you’re willing to pay. See where you can save. Talk to your builder as well to see what their payment plan is like and what they’re planning on doing.
Some people like to take the project into their own hands, so you’ll need to make sure you’ve done all your research. You may have to use rentals to stay on budget e so make sure you’re really homing in on your finances and what you can and cannot spend.
Mistakes Will Happen
If you’ve ever planned a big event or undertaken a big project in your life, you know that these things rarely go perfect. A wedding guest will cancel at the last minute or your PowerPoint project won’t work.
The same will happen while building your house or adding on. The builder will show up late, it will rain seven days in a row or there will be a money dispute.
Even if you’re a perfect planner and have everything nailed down to a T, there are going to be some issues and hiccups along the way. That’s perfectly normal. If you hired a builder, be open with them and make sure they have the same goal in mind. You want someone to be with you in this, not fighting you the whole way.
Remember to be patient and try and keep stress to a minimum. That can be easier said than done, but it’s going to be a long project and your house won’t be finished in a weekend.