Building a House

Top 4 Tips for Building a House + Budget Checklist

Renting a house brings about a wholly different emotion than when buying one. Same is the case with buying one and building one from the ground up. Plenty of effort and time goes into constructing your home, but it is surely a rewarding experience. Unlike in the other forms of acquiring a house, you get to tailor your home to cater to your needs and tastes. Keep the result and peace that comes in the end on your mind during the whole process since there could be several incidents that dishearten you.

It comes with immense stress, which you need to bear throughout the construction to get to the final structure. But you must also know that building a home need not necessarily be the wearying process as you think it to be. When you have a proper plan to weave through the process, you can undoubtedly elude all the heartaches. Let us have a look at the top 4 tips for a stress-free construction of your dream home.

1.      Plan has to be In Place

 Plan has to be In Place

As you might know, planning plays the most crucial role in the construction process. You must make sure not to invest excessive time just into planning and lesser into execution. A proper balance is also required to keep the process at a good pace. The houses that aren’t built with a proper plan can look like an interesting piece of abstract art, but not the ideal place to live. Meticulous planning is required to detail your house appropriately, starting from the direction it faces. It should cover the layout of rooms, lighting, roominess etc. Keep track of any design ideas that you stumble upon which you would like to emulate.

2.      Prepare a Budget that Exceeds Your Expectations

You may or may not have a building cost in your mind for the ongoing construction; if you do, it surely is going to be surpassed. Items that aren’t included in the estimate may come as a contingency or extra cost. Outdoor concrete, internet and cable hookups, window coverings, decking, and gates could at times be excluded from the estimate. Finishing costs such as these could run between 15-25%. Your rough budget should include:

  • Land price
  • Loan settlement costs
  • Taxes
  • Site cost
  • Planning fees
  • Build cost
  • Finishing costs

3.      Choose the Right Builder

This decision will play a key role in your house construction since you will be working with them for a couple of months. Look through the credentials, past works, references, style of construction, their personality, and the price they ask for, and then decide if he/she is the right one for your needs.

 

4.      Read the Agreement Carefully

Make sure that you read through every detail in the contract carefully with the builder, so that you don’t get surprised by extra construction costs or other issues in the process. Check if it includes a proper plan, a cooling-off period, and also the payment schedule. It is always best to have it checked by a lawyer before signing it.