For many people, owning their own home is the American dream, but sadly current house prices and debt make it impossible for many people to buy their own home (especially when the current average US house price is $200,000). Thankfully there are lots of ways to make home ownership cheaper, from buying a tiny home to building your own.
Are you thinking about building your own home? If so, there are lots of things to consider first. This includes costs, design plans, and hiring builders, as well as hundreds of other little things, so you should definitely ask yourself a few questions first to make sure that you are fully prepared to build your own home.
Here are five questions you should ask yourself before you try to build your dream home.
Can I Afford It?
Pricing up a new build can seem fairly affordable, especially if you are going for low cost products and land, but it is important to remember that there are often unplanned construction costs. For instance, it may take longer than expected to build the home, or you may need to establish stronger foundations if the ground is weak. It could be as simple as the cost of lumber going up.
So cost the full project, from start to finish, and then add an extra sum of money for unplanned costs that may occur.
Do I Have the Time?
Building a house can take months or even years, so you should make sure that you have the time to spare. This includes time spent dedicated to the house; after all, even if you hire a construction team to complete the entire project, you will still need to be on-site frequently to oversee certain tasks and sign for things.
It is also important to make sure that you have somewhere to stay while the house is being built. Make sure this is somewhere comfortable and warm, especially if you expect the build to take over a year.
What Are My Family’s Needs?
You should also write a list of your family’s needs and wants. On the ‘needs’ list include essential items (such as a big kitchen and a garage), and then make a ‘wants’ list with non-essential items that you would like (such as an outdoor hot tub). This will make it easier to budget for your needs effectively, and if there is any money left over you can add a few items from the ‘wants’ list.
Have I Chosen A Builder?
Next up is choosing a builder who suits your house plan and budget. Different builders have different skill sets; some are better suited to building affordable modern homes, while others are better suited to restoration. So take the time to look for a builder who is perfectly suited to your project.
Not made a house plan yet? Visit Monster House Plans for a selection of pre-made plans that you can use.
Where Is The Location?
Finally, you need to choose a location that suits your family’s needs and budget. Some places are much pricier than others, but it is possible to buy cheap land, especially if it is in a quieter area. It is also important to choose a location with a payment method that suits you; do you want to pay for the land all at once, or do you want to pay using finance?
Alec Neufeld’s extensive background in the construction trade fuels his passion for alternative energy and green building methods. A retired builder, he now enjoys a freelance writing career, alongside helping people as a general contractor.