Building a home is a dream come true for many men and women, as the chance to design and watch your home be built from the ground up is an exciting process. If you happen to be one that wants to build your own home via yourself or a contractor, there are some pretty important questions that you should ask yourself before heading in that direction. After all, the whole process is quite a bit more intensive than purchasing an already built home.
Great questions to ask:
Can I get financing?
It is important that you are able to get a loan for the amount that the entire project will cost. How is your credit? Can you get the amount of money that you need?
Can you afford land plus the cost of the build?
Depending on where you live, the cost of land can be affordable or extremely expensive. Check out the average price of land in your area and figure that together with the estimated cost of the build. Can you nicely afford that?
Is there land in the area of town that you want to build in?
You might want to be near the lake or near downtown; either way, check to make sure that there is land available in the part of town your prefer.
Do you know a reputable contractor that you can trust?
This is a big one. Sad to say there are some contractors that try to cut corners, so it is important that you do your homework and find one that has a good reputation and is trustable. Be sure to check with the Better Business Bureau and look at any online reviews of the contracting company.
Are you willing to deal with some building headaches?
I hate to break the news to you, but along with building a house come a few headaches. Chances are not everything will go as planned and you will encounter some frustration. Are you willing to deal with such headaches?
Once the home is built, will the resale value be advantageous to you?
Should you want to sell your home in five or ten years, what does the resale value look like? What are the other homes selling for in the area? Compare that with the build price and see how it compares.
What are the building codes?
Do they affect you? Your contractor ought to be aware of the building codes and how they affect your home. Have a discussion with him or her or contact your local city building code authority for answers.
What kind of design do you want?
There are literally thousands of home designs to choose from. This is wonderful, but it can also be a bit daunting to choose one. Be sure to take some time to choose a design that you love, as rushing through this part of the home building process might make you regret it later.
If you answer these questions and still feel good about building a home, go for it. The journey may take a bit longer than if you were to purchase a home, but in the end you ought to be thrilled with your newly crafted home.