5 Key Steps to Custom Building Your Home

Written by  //  February 3, 2020  //  Home Construction Planning  //  Comments Off on 5 Key Steps to Custom Building Your Home

custom built home

If you’re house hunting but you just can’t seem to find a property that lives up to your vision of your dream home, it might be time to think outside the box. Instead of simply moving into a new home, you may want to consider purchasing a vacant lot and calling the shots on the construction of your own custom house.

Building a custom home can be a very rewarding process. As a future homeowner, you’ll want to take an active role in every important decision and carefully monitor the progress of construction. Here’s how to navigate the journey of building your own custom home.

Determine Your Timeline and Budget

First, you’ll need to work out the basics. For instance, how long will it take to build your custom home? How much money will you be able to invest in this project? Before you begin the process, you have to decide if this is a financially responsible choice. In addition, you need to determine if the house will be ready by the time you need to move.

When it comes to budgeting for a custom-built home, you will need to consider several factors. What kind of features do you have in mind for your home? How much can you spend on a lot? Think about the cost of materials, labor, land preparations, and hooking up utilities. Remember, you don’t want to compromise on quality and integrity when it comes to materials or contractors.

You may have to take out a construction loan for your custom-built home. To qualify for this type of loan, you will have to meet strict requirements in comparison to a typical home loan, so make sure that you have a solid credit score and fit the income guidelines before applying. You could consider securing a construction-to-permanent loan, which pays the builder as they build the house. After you close on the house, the cost will convert into your mortgage.

Purchase Property

Before you build your home, you’ll need a vacant lot. However, don’t rush into purchasing a random lot for your project. Not every patch of empty land will be right for your home. NOLO.com recommends considering several important factors: location and the surrounding neighborhood, environmental issues, and zoning regulations. Find out if your general contractor will need to obtain specific permits in addition to the normal building permit.

Design and Layout

Now comes the fun part: planning the layout and design of your future home. Think about the floor plan, the color palette, the flooring, and any additional features that are important to you. Is your lot located in a historic district? If that’s the case, you may have specific design requirements to follow, so keep this in mind as you plan.

Sims Builders suggests spending extra time focusing on the details of your future kitchen, master bedroom, and living room, as you and your loved ones will spend the most time in these areas. As you make your plans, ensure that your design falls in line with your budget, and prioritize incorporating the features you definitely need before adding features that you want.

Assemble Your Team

Before you embark on the process of building your custom home, you should hire an architect who can help you draw up official plans for your vision. You will also need to choose a general contractor. This is a crucial step, and you should take the time to ask your loved ones for recommendations and carefully evaluate your options.

Working with a sloppy, inefficient general contractor can lead to disastrous results. US News suggests interviewing and going over bids from at least three different contractors before making a final decision. Depending on your budget, you might also want to think about working with an interior designer or a landscape architect.

Monitor the Build

Once you’ve found the right team to take on your custom home project, the real work begins! Before your team gets busy, make sure that you have all the proper building permits. You should also prepare for several inspections during the home-building process. Keep in close contact with your team, and ensure that you’re up to date on payments and fees.

Building a custom home takes much longer than moving into a house, but once you see the final result, you will realize that the time and money you invested in this project were well worth it. Before you know it, you’ll be ready to move in. Your dream home doesn’t have to be a dream — if you build a custom home, you can turn it into a reality.

image credit: Pixabay

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