What You Need to Know Before Deciding to Build Your Own Home
So You Want to Build a House
There are many things to consider before deciding to build your own home. And while it may be tempting to create a home that is totally your own, there are often many other solutions that may be faster or more financially affordable.
Building a home can be an incredibly rewarding experience. But, here are some things to mull over before you decide to build your own home.
The Top 5 Things to Consider Before Building a House
- Know What You’re Getting Into.
While building a home is a romantic notion, you have to think through every moment to assess whether it is the right choice for you. We recommend speaking to some contractors as well as any friends who have already built their own home to get a firsthand experience of what to expect. There are also many blogs that will walk you through their process of house building, such as The Sunny Side Up Blog and Let’s Just Build a House.
- How Much Time Do You Have?
Building a house takes time. You must find a location, get the proper permits, and obtain financing all before you can even start building. Then, the actual building of the structure will take even more time (on average, about 7 months). If you need to move into a home quickly, building one from the ground up may not be the right choice for you.
- Can You Afford It?
In addition to the cost of the lot and the actual cost of construction, there are still more costs to consider. Since building a home takes time, you’ll need to have somewhere to live while the construction takes place. Will you be able to afford to pay the contractors before selling your own house? If you do sell your current house, do you have other accommodations already planned?
- Is Your Lifestyle Stable?
Building a home means committing long-term to the cost, the location, and the home. If there is any potential of losing your job or needing to move suddenly, you may want to put the home building on hold. This also means considering whether you are building a home for future children or taking care of your parents. Try to guess any changes that could be coming your way to determine whether or not they will interfere with the home you are considering building.
- Will You Like It?
While this is a general question that may not seem too important, it is actually worth considering. Do you like the look of modern homes? If you have always dreamed of living in an authentic Victorian, then building a new home may not be the best choice. And if you don’t foresee yourself enjoying any of the planning, the decision-making, or the excitement, maybe buying a home would be more up your alley.
Is Building a Home for You?
We don’t mean to discourage potential home builders from doing so, because the process can be a very worthwhile endeavor that brings joy to homeowners everywhere. It is simply a good idea to ask yourself a few questions before you embark on such a journey. Whatever you decide, we wish you the best of luck!