Building a new home from scratch can be a daunting prospect. When standing in a vacant lot of rubble, it can be difficult to imagine your dream home ever becoming a reality.
Like most journeys in life, building a new home requires research and planning. With a little help and expert advice from luxury home builders, you can have a clear sense of what your end result will be, and the kind of impact its going to have on your wallet. Follow these simple tips to start the planning process of building your dream home.
- Plan Your Budget
The first step in the planning process, is to create a reasonable budget for financing your dream home. Most home buyers will need to source a home loan in order to commence construction on a new home. It is therefore imperative to speak to a bank or trusted financial advisor, in order to determine the size of the loan that you will be eligible for, and to select a loan with repayments that are suitable for your salary level.
Knowing the approximate costs of your building plans is essential in order to create a realistic budget, and stick to it. Unfortunately, there are many hidden costs associated with building a new home. Your new home may come with higher living costs for home insurance and utilities.
You are also likely to encounter many unexpected expenses throughout the building and planning process. This may include wiring for internet connections, levelling costs and other unexpected surprises that come with building a home on a new lot. Purchasing a house and land package, is therefore a popular avenue for budget-conscious home buyers, who require a fixed fee arrangement.
If you need some cash for the short term and you are from Los Angeles, you can go for hard money lenders Los Angeles. You might be eligible for bridge loans as well. In that case, look for reputable bridge loan lenders around you. Make sure you have the right budget for your dream home.
- Choose your Home Design
Choosing the right designer for your project is arguably the most important step when building a new home. While many new homes are built using stock plans from expert designers, other new home buyers may wish to create a custom-designed home. Engaging a designer based on their experience, qualifications and capacity to deliver the type and style of home that you desire, is critical in order to create your dream home.
Finding the right plan for your specific needs can take some time. However, it is important to remember, that the home designer can make modifications from room size to window style, in order to suit your needs and design preferences.
- Location, Location, Location
When starting the planning process for building a new home, it is crucial to consider your dream location. The area, climate and neighbourhood your home is in, will all have an enormous impact on your lifestyle choices and happiness in your new home.
Some important things to consider when choosing a location for your new home; include access to public transport, proximity to major cities, distance to family and friends, and whether there are good schools and employment opportunities nearby.
- Find your A-Team
You’ll need a team of experts to design and construct your house. The most important way to ensure that you receive the best deal with a reputable home builder, is to do your research and ask questions. It is also critical to invite various licenced builders to quote on your new home, provide detailed plans, and outline outline accurate estimates for the cost of each aspect of your home.
Before you agree to sign any contract, ensure that the terms cover everything that you have previously discussed, and that the contract outlines an agreed timeline for completion. It is, therefore, important to seek the advice of an experienced solicitor or conveyancing, before you sign any plans or binding agreements.
Building a home gives you the freedom to enjoy a brand new property that has been designed to suit your lifestyle and design preferences. However, it is also a big project that needs to be carefully managed at every stage. Following these steps when planning your build is critical to ensure the timely completion of your dream home.
Bio: Laura Costello is a recent graduate of a Bachelor of Law/International Relations at Latrobe University. She is passionate about the law, the power of social media, and the ability to translate her knowledge of both common and complex topics to readers across a variety of mediums, in a way that is easy to understand.