Building a new home can be more rewarding than renovating an existing one. It allows you to design your home to suit your needs and wants from the ground up. But the construction process can also take a lot of time, energy, and resources.
The home construction process begins long before the concrete foundation is poured. If you develop a sound plan and partner with an honest and dependable concrete contractor in Salt Lake City, the entire process will be a lot less stressful and a lot more efficient.
As your home dreams turn into reality, it is essential to ask questions and communicate well with all builders. Here are a few strategies for a more efficient home construction process.
1. Set a realistic budget
Start thinking about your budget before creating a plan and consulting an architect. You should know how much you can afford to spend and how much it will cost to build your dream home. Knowing the numbers allows you to reconcile your wants with the reality of your finances. If anything, setting a realistic budget will enable you to make more informed decisions.
You might need a mortgage and a self-build loan if you are planning the project yourself. Check with banks and lenders to find out how much they are willing to loan you based on your financial standing. Many financial institutions allow loan prequalifying, which enables you to have an idea of how much you can spend.
You should also start looking at architects, contractors, and designers to hire. Start calculating the cost of land, construction materials, and interior fixtures and furniture. Your numbers should be stable at least a few months before the actual construction begins.
2. Choose your location
Think about where you want to live. If you have inherited land or already bought a lot, then you can skip this. But if you have not purchased the property for your new home, you need to talk to realtors for a cost estimate in neighborhoods you are considering. While land values vary significantly from area to area, you should set aside at least 20 percent of your budget for the land purchase.
3. Design your home
New homes are either built with a stock plan or a custom design. A custom plan requires the services of an accredited architect. They will create a home plan that’s tailor-fit to the land and the needs of the family.
Most people choose a stock plan from a printed or online catalog. These catalogs are often sorted by style, layout, amenities, and budget. You can choose a stock plan yourself, or you can collaborate with a construction professional to select a stock plan that best serves your needs. Designers can also make adjustments or modifications to the stock plans.
The preparation period for a home construction project can be an exciting time, but you should consider whether building a home from the ground up is the right choice for you. Home construction requires a lot of time, energy, and resources and can disrupt your everyday life. You might find that buying or renovating a pre-existing home can be a better option.