3 Things To Do When Building A Custom Home

Posted on: 9 September 2020

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Going with a custom home is the best way to get what you want. Custom homes allow you to choose the materials, floor plan, and the finishes that you want. Custom homes are an excellent option in areas where inventory is low, and you may find it challenging to find a home that suits your needs. While there are plenty of benefits to going custom, there are a few things that you need to consider before construction starts. Here are three things you should do when building a custom home.

Set A Budget

The first thing that you need to know is that building a custom home is typically pricier than buying an existing home. Setting a budget early on and having funds for contingencies is a necessity. If you plan to finance your custom home, also be prepared to meet more stringent requirements from lenders. Construction loans usually require higher down-payments than traditional mortgages. Custom homes can range anywhere from $200 to $500 per square foot to construct. Your contractor will be able to work with your budget and build the home you desire.

Get Design Help

While you probably have some particular ideas about how you want your new home to look, they may or may not be entirely feasible. Unless you have design experience, you will most likely want to hire someone to help you with your custom home design. A home designer or architect will play essential roles in the design of your new home. The services of an architect or designer will amount to somewhere between 10 and 17 percent of your budget on average. While it is pricey, the design is a vital part of your custom home.

Be Ready To Wait

Another thing that you need to do when building a custom home is to be ready to wait. Constructing a custom home will take months, even upwards of one year. Inclement weather and other issues can also delay construction. While construction is ongoing, you will need a place to live in the meantime. If you are looking to move into a new home quickly, going with a custom build may not be the best option for your needs.

If you are building a custom home, there are a few things that you should do. First, setting a budget before the work begins is a necessity. You will also want to hire a designer or architect to ensure that your custom home design is what you want. Finally, it's also important to be patient. It will take months before you can move into your new home.