Building a house is one of those things that everyone aspires to do no matter where in the world they are.
With the housing market always becoming more expensive, a house of your own is a very valuable asset to have. Unlike buying a house, building one from scratch helps you incorporate your own ideas into the design thereby becoming more suitable for your needs. Buying a built house means you will need to work around what is already built therefore limiting what you can do to the house.
Regardless of whether you are planning to build a house for you to stay in or to sell, here are things you need to know.
Building a House Is Expensive
Yes, building a house is not cheap. There are so many things that need to be purchased and people you need to pay like the engineer and architect to name a few. Therefore always make a budget and ensure that your budget is reflective of your finances. It is unwise to pour all your cash into a building project because if something goes wrong and you need money urgently you will be in trouble.
So either make a safe budget that leaves you with more money to take care of other matters or talk to your bank and check out plans for cash loans. Some banks offer housing loans, which can provide you with some flexibility in your budget without restricting you too much or taking away a lot of your present finances. Once you have a budget after taking into account loans and all, speak to your engineer and architect. If you cannot afford to be flexible later on, then let them know this as they would take into account in the building plan.
Be Ready For Sacrifices
There are so many things you would want in your house but not all of them will be actually viable. Sometimes implementing some of your ideas can be very expensive or time-consuming. Sometimes it can be impossible. So you need to be ready to make sacrifices. Try to make a list of things that you really need and those that you wouldn’t mind removing if you had to.
This will help you later on in case obstacles turn up and sacrifices need to be made. If you choose to persist and are not ready to give up what you want, the very house you build maybe compromised.
Do Your Research
There is no use building a house with no knowledge whatsoever regarding it. Doing so is a recipe for being manipulated by the people you hire or not getting your money’s worth. Try to do your research and find out what works best for your house from the lighting to the layout, etc. also keep in mind that you need to always build with the intention of resale.
This means you can’t always cut costs and you many need to include attractive features to your home that could entice a buyer later on. While your architect will plan your house well, they may not always be updated with current trends so you do your research will be actually very useful.
In the end building a house is a huge investment so be careful when making any decision and always pay heed to the above.