Building a new home can be just as exciting as it is complex and stressful. If you properly plan out the project and try to avoid mistakes, you can ensure the house stays within your budget and desired timeline.
Here are five things you should know before setting out to build a new home:
1. Average costs
Home Advisor, a website devoted to housing news and tips, estimates that it costs an average of $305,372 to build a home, with most individuals spending between $178,010 and $466,493. The website says that the number of stories, square footage, appliances, design and fixtures will impact the final price.
2. Staying within budget
U.S. News & World Report, a major online publication, says that one of the major mistakes that lead to increases in overall spending is not properly planning. When a highly detailed plan is not in place before the outset of the project, the budget is highly likely to be overshot before completion. The source also urges consumers to consider their mortgage costs over the entire term when establishing a budget.
3. Know important role players
Maverick Custom Homes, a business that assists in home construction, explains that the key players in any project will include the homeowner, real estate agent, construction manager, the bank, designers, civil engineers, contractors and inspectors. The only way the house will be built flawlessly and within budget is if all of these players are chosen carefully and work toward common goals every step of the way. Make sure you are coordinating and playing the point guard that keeps everyone on task and in communication.
4. Know the essential steps in construction
You should have an idea of how a construction project flows before you begin building. This knowledge will help to guide your decision making in a more accurate fashion. Some of the steps include:
- Readying the land for building
- Framing the structure
- Handling primary plumbing and electrical work
- Inspecting after each major component of the project is completed
5. Advanced planning
Some of the more important components of planning could get left out of the equation, which can end up causing you major headaches down the road. Freshome, a website devoted to housing-related matters, suggests considering the following matters before the project begins:
- HVAC systems of choice
- Which rooms will have what purposes
- How much natural light can be used
Following this guidance will help you to ensure the home is comfortable and up to your standards when the project is complete.
If you would like a thorough rundown of the physical, tangible matters involved in building a home, check out this article from New Home Source, an organization devoted to new house listings and information. This guide will help to inform your scheduling and planning from pouring the foundation to the final walkthrough.
© 2016 Selective Insurance Group, Inc.
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