Building a home can be a thrilling journey. However, it’s also one that requires a great deal of patience and forethought. The process can be stressful, and the unexpected can come up, but having a plan in place can help you avoid some of these pitfalls.
Having a solid plan for your new house will make the building process go smoother. You should have a detailed budget that you can stick to throughout the build. This way, you won’t find yourself in a financial bind halfway through construction. Also, be sure to take into account the cost of materials and labor. If you skip out on this step, you may end up with a house that doesn’t fit into your budget.
Fortunately, there are several tools available that will assist you in determining how much your dream home will cost. These include online price comparisons and a home affordability calculator from Mortgage Reports. Alternatively, you can get a pre-approval from your bank. With a pre-approval, you’ll be able to start shopping for a mortgage once your home is finished.
It’s also a good idea to research your builder. Make sure they’re licensed and insured. The best general contractor in Boise will be able to give you advice on the features you should consider in your new home. He or she should also be a member of your local builders’ association. Ask for references from former clients to get a sense of their reputation.
Another way to figure out how much your home will cost is to speak with a professional architect. They’ll have a better idea of the average costs of homes in your neighborhood. In addition, they will have a clearer picture of how many rooms your home will have.
Then, you should work with your builder to come up with a design that meets your needs. For instance, if you’re expecting to spend a lot of time entertaining guests, you may want to upgrade your kitchen. Or, if you have kids, you may need a larger living room. As you’re planning your dream home, be sure to think about the resale value as well.
Finally, you should set up a contingency reserve for emergencies. Although most lenders have standards for borrowers and builders, unexpected problems can cause delays or add to the total cost of the project. To help you manage this, have a hefty amount of money set aside.
Lastly, you should hire an experienced real estate agent. Not only can they find you a great location, but they will also negotiate a deal on the perfect plot of land. An agent will know the up-and-coming areas that will increase the value of your home.
Whether you’re considering a custom build, or are simply looking for a starter home, the process can be exciting and rewarding. Just make sure to do your research and be prepared for the challenges that can come with it. Once you’ve decided to build a home, you’ll be on your way to a new chapter in your life.