First-time homeowner: Building process 101

Buying a new home is an exciting step in the right direction which marks a new chapter in your life. Whether you’re moving in to start a family, or to simply become an independent homeowner, it’s a decision that will affect every aspect of your life.

Many prospective homeowners don’t like the idea of purchasing an existing home, for a variety of reasons. Perhaps they don’t want to deal with older and less efficient construction, as repairs can become very costly over time. On the other hand, they might want to design their own home from scratch, making their home unique and introducing their own flair to it.

Whatever your reasoning, building a home is going to require some major planning and coordination, which means you need to prepare accordingly. There are a couple of crucial steps you have to go over for your first home-building experience.

1. Have a plan that matches your budget

Your budget is a huge part of the home building process. Managing it sounds pretty simple, in theory. However, a lot of future homeowners make the amateur mistake of trying to mold their budget towards a specific home plan. This leads to unfortunate situations where they overshoot their budget.

The wiser option would be to overview your budget first, and only then see the house plans that would be available to you. Ask yourself how much of a house can you afford, and then consult the contractors and engineers that are working with you.

2. Compare prices to existing buildings

Building a home can cost you a pretty penny. However, one of the main benefits of a building instead of purchasing is that you get to pick your price. On the other hand, there’s no guarantee that an existing home won’t be drastically cheaper to purchase, simply because housing prices have dropped.

This is why it’s important to assess the current price of real estate in the area where you plan on building your home. If the building process costs turn out to be vastly larger than the price of an entire home that is already on the market, you would be better off picking a different location or purchasing a finished piece of real-state.

3. Consult professionals

Building a home is no easy task, and it certainly isn’t something you can do on your own. You need someone to do the heavy lifting and construction work. However, the construction contractors aren’t the only ones you need to keep in contact with. Finding the right kind of real estate, creating the home plan, and working out all the problems are all things that might need a professional touch in order to work out fine.

Let experts like Statesman Homes step you through the process. With help and consultation from professionals, your home building project will be realized without issues. Keep in mind, those with experience in the field won’t hesitate to tell you when the scope of your plans is too ambitious for your budget.

4. Obtain a building permit

Unfortunately, building a home isn’t as simple as just doing what you want with the materials that you have. There are laws and regulations in place that determine what you’re allowed to build. A building permit is absolutely essential for the legal construction of a new home. To obtain one, you need to have thoroughly drawn up plans to submit to the building regulators of your city.

Once you’ve been given the green light, you have to make use of that permit as soon as possible, considering the fact that they usually expire within three to six months. Buildings also require permits for electrical work and plumbing, but these are often bundled up into a single permit that goes with the building permit.

Conclusion

Building a home from scratch is a difficult and time-consuming process, but it’s a very rewarding experience. In many situations, it can turn out to be a more affordable solution for prospective homeowners. Not only that, but the near-limitless creative options you have available for your home make building it a very attractive idea. As long as you follow these steps during construction, you’re going to find that building your ideal dream home isn’t as nightmarish as it might seem at first.