Owning a home is an achievement that many only dream of. It is a costly affair that takes a lot of dedication to materialize. Although constructing a new home may look simple, the devil is in the details. Many people face a rough time in the hands of unqualified builders who present themselves as professionals. If you need a trustworthy construction contractor, see this builder. Below we break down the first five steps that you need to take in new home construction.
Set A Realistic Budget
Budgeting forms an integral part of constructing a new home. Without a clear financial plan, your desire to own a home remains a pipe dream. You must make a firm decision on how much money you intend to use on the project. To get an answer, prepare the approximate cost of the entire construction. Where you will get the money from matters as a budget without a source of capital is pointless.
If you plan to fund your project out of pocket, make sure that the amount you have correlates with the proposed home’s estimated cost. Remember that you are not competing with anyone. Succumbing to peer pressure at this point will do you more harm than good. Only go for what you can afford and not what your heart desires.
You may also opt to seek financing from a financial institution. This means that you have to go through a qualifying process for your lender to grant or deny you the loan. First-time home building projects don’t attract many lenders, so expect some hurdles. To overcome those hurdles you can apply on Pekoe for a home loan.
Select Your Desired Site
Now that you have an estimated budget and a potential financier go ahead and locate the right lot. Take into consideration the amenities you need in a community. If you have school-going kids, look for an accessible area with schools in the vicinity.
Look for a fair land where drainage is not an issue, and flooding chances are minimal. The type of soil, local building codes, and zoning are factors that you should consider. You can engage a construction professional to help you make the right choice.
Seek Government Authorization
In most cases, the local government oversees all building and construction affairs. You should confirm the type of housing allowed in your lot from your local authority. Your resident Urban Planning Officer will guide you on the dos and don’ts of the area. Failing to adhere to the set rules and regulations in a specific area may land you on the wrong side of the law. Government officials will notify you of any building restrictions and the needed authorizations.
Design The Home
At this stage, you will need a professional architect with whom you will work with. An architect will help you produce rough ideas into a tangible house plan. But, you are the one to provide the most critical details.
You must have decided the number of rooms you want by now. Whether the new house will be a single story or higher is also a factor to consider. Let the architect know the home style you want, e.g., Colonial, Contemporary, Cape Cod e.t.c. Provide a draft floor layout, no matter how basic, to bring out a clear idea of what you wish for.
Inform your architect about the type of roof you want. You may choose to have a flat roof or high pitched roof and choose a suitable roofing material. By giving the architect a clear brief, you make it easy for them to come up with the most appropriate design for your home.
Hire A Building Contractor
With everything in order, you can now look for a credible construction company to take over and break ground. The first step should be to verify the company’s registration status. Once verified, ensure that the lead engineer is also licensed. They should have a verifiable address and clear communication channels. The contractor should have a Builder’s Warranty Insurance to safeguard your project in case of any eventuality.
The builder should produce a written contract copy for you to read. Go through their terms and conditions. You can ask for help from an attorney if some parts look risky. Don’t sign before reading and understanding the last point.
You have no one to blame later if you commit yourself to a faulty contract. The contract form should have clear timelines highlighting all major milestones in the project. The document should also state the contractor’s quote and the projected completion date.
The journey to owning a custom home is long and tiresome. It takes time before you can actualize your dreams to reality. You need patience, discipline, and dedication to the course if you are to make it.