Purchasing a new home can be overwhelming, as there are so many options available to you. You could buy a spec home, a tract home, or build your own custom home. If you’d like to learn more about the benefits of buying a spec home, click here, and if you’d like to learn more about building your own custom home, click here.
While you have many options available to you, building a custom home is a great option because it allows you to build the exact home of your dreams, with all of the finer details. You get to customize everything! You also may find yourself looking at existing homes in your local market and there’s nothing necessarily wrong with them, but there’s just something missing. Building your own home from the ground up allows you to build the perfect home to fit your lifestyle.
Once you’ve decided to build your own home, it can be difficult to know exactly where to start. The building process is extensive, so it’s important to have guidelines to help you through the process and avoid common mistakes. Here are 5 basic steps to getting started in the building process.
A lifestyle checklist is a list of things to consider when you are considering features of your custom home. It’s very useful in helping you identify desired aspects of your home that you may not have even thought of before. It will also help you categorize things in your new home that are must-haves, optional, and not needed. We actually offer a free Lifestyle Checklist that you can download by clicking here. After you’ve downloaded and filled out the checklist, it will also help you be able to explain your needs and wants to your builder and architect.
2. Buy Land
If you’re starting completely from scratch, you will need a lot to build your custom home on. If you’ve already identified a builder that you’d like to work with, they may have some lots available to you to choose from, or you can use one of your choosing. This is a great benefit of working with a custom home builder, unlike tract or spec builders, custom builders have a lot of flexibility in the location of the lot.
3. Plan Your Layout
This is the fun part, you get to plan your dream home on paper. Be sure to include a basic floor plan and examples of exterior finishes. Your custom home may not end up exactly like the first draft you come up with, but drawing out a basic layout will help you further define and specify your vision for your ideal home. Here are some unique ideas to add to your floor plan.
4. Find A Builder and Architect
This step is the most important, as your builder and architect will be working very closely with you throughout the process, and ultimately bringing your dream home to life. Whoever you choose for your team, make sure you do your due diligence to ensure that they are reputable and professional. Your architect will help you refine your vision and turn it into a real blueprint, and your builder will oversee and manage the construction process.
5. Create Your Budget
This step is also very important, as it will affect the rest of the building process. Once you and your architect have agreed to a blueprint, your home builder will break down the plan into construction phases, and get estimates from contractors to do the work. After that, you should have a fairly accurate overall picture of what your home is going to cost. When you’re creating your budget, make sure to factor in construction materials, labor, utility charges and permits, and designer fees, landscaper fees, and other professionals if needed. Lastly, be sure to include a contingency of about 10%. This will cover any unexpected cost that may come up when building your home, and if nothing comes up and you don’t use that 10% you set aside, great! However, if you don’t budget for the 10% and something comes up, you don’t want it to be blindsided by that cost.
If you’d like to learn more about building a custom home from the ground up, check out our free Ebook, The Ultimate Guide to Home Building by clicking the button below!