More Australians every year are looking to play a larger role in the home ownership process. Rather than simply purchasing an existing structure, they are becoming more ambitious and looking to build a home from the ground up. Building a custom home is a great way for you to bring to life the structure of your dreams and to incorporate design preferences that will turn the house into a true home.
However, it is important to understand that building a home is not as easy as it sounds. Being prepared for the entire process will make it easier and less stressful for you. Make sure you consider the following important factors.
Get the numbers right
The most important step is to sit down and prepare a budget for the home building process. Know what you can realistically afford to spend and be prepared to incur unforeseen costs.
Most home builders' websites now have online tools that can help you estimate the cost you're likely to incur when you choose to build a home. You can use that as an initial point of reference for estimating costs.
Select the right builder
The next step is choosing a builder. Working with the right builder can help you truly build a home of your dreams. Make sure the builder is licensed, experienced and sensitive to your specific needs.
It helps to do your research and to seek recommendations from friends and family. You may also need to carry out initial consultations with various candidates so you can select the best builder to suit your needs.
Consider resale value
You should always build a home with resale value in mind. It is highly likely that you may end up moving to a new location in years to come. Therefore, don't over-commit to a particular property by carrying out upgrades that will make your home overpriced for the local market.
Make sure you have enough time
Building a home from the ground up takes time. You will need to commit to the project and make sure that you're available if the builder or other contractors need anything from you. Therefore, make sure you have enough free time over the course of the project to make sure that you can work closely with the builder.
You should also be prepared to be patient and avoid rushing the builder to complete the project. Being impatient may cause you to build a home that is of lower quality and value.