Unlike a home that has already been built, you will need to keep your eye out for a wide variety of unique problems when building your custom home from the ground up. Here is a look at seven mistakes that many people make during this process and what you can do to avoid them.
1. Trying to Do It Yourself
Even those with a good amount of experience might not realize just how many permits are needed. Every city has their own laws regarding this process, and the permits needed to build a home are complex and expensive. It is better to leave this project to an experienced, certified, and insured contractor.
2. Not Checking the Contractor’s References
Finding the right contractor will make or break this experience, and one of the best ways to ensure that you have chosen the right individual is to check their references. This is the time to really dig into their past work and find out what they have done right and what they have done wrong.
A family that is building a home might not realize some of the hidden costs that could plague them for years if they attempt to build a mansion. Adding just a few extra rooms could increase your home insurance premiums by thousands of dollars per year.
4. Not Monitoring the Progress
No matter how much you trust your general contractor, mistakes can easily be made in a larger project such as building a home. Catching a minor issue early could save you quite a bit of money later on. An example of this would be the type of tile that is used. Finding out that the wrong tile was ordered is an easy mistake to fix until it has been unpacked and installed
5. Springing for All of the Upgrades
Homeowners will need to pick and choose exactly what upgrades are worth the time and money. Much like adding extra space to the home, every new upgrade will increase your insurance premiums and make repairs and replacements much more expensive. You should pick a few of the absolute necessities and most likely avoid the rest.
6. Not Thinking About Resale Value
While you might be fairly confident that you will live in your custom home the rest of your life, you should still take some time and consider the resale value of the home. No one can guess when they might pass away, and leaving an overpriced home to a spouse or family member can be devastating. The size and style of the home should always fit the area where it is being built.
7. Letting Your Dream Home Cloud Your Reality
Building a dream home is always going to be an exciting experience, but it should be seen as a magic bullet that will end other issues in your life. Many people build a dream home believing that it will solve their financial problems or bring a family closer together, but that is simply not true. Having the right state of mind during this process is just as important as anything else.