Building your own home means that you can achieve your dream vision, have the space how you want it, and add features that you can’t find in other homes. Many people assume that building your own home is impossible. With the right support and knowledge, it is more than possible to build your own home. Mrs. Money and I have always bought existing houses but my parents have personally had 3 houses built for them. There’s definitely something to be said for getting a house just the way you like it. In today’s fast paced world of real estate, sometimes it could be easier or even more cost effective to buy a new home. That being said, follow this guide for how to build your own home.

Get land permission

Before you go ahead with the idea or planning stage, it is vital to get land permission for your property. Certain zoning laws or local rules or regulations may hinder your ability to build. It’s important to do thorough research before buying a piece of land, or even if you have the land figuring out what you can or can’t do. Without appropriate permission, you could be in all kinds of trouble. Should you be unsure whether or not you can build on a specific plot of land, using a well-known law firm like Zarwin Baum can assist you with land use planning to ensure that your property will be protected and legal. Building on a protected piece of land can result in having to tear down what you have built and pay fines. I remember one neighbor who built a mother-in-law suite in their backyard and didn’t follow the appropriate steps and was not able to have their mother-in-law live in the new space!

Use a realtor

Using a realtor, or anyone who has expert advice in the property industry will help you save money. They will help you find the best locations for building, which will save you money when it comes to purchasing the land, materials, and hiring contractors. 

Likewise, they will also help in the future should you want to put your home up for sale. Plus, they can assist you with where to look for a mortgage. Mrs. Money and I have worked with a realtor we trust and it’s really paid off for us!

Getting a mortgage

Like with any home, you will need a mortgage to live there. Finding one is as straightforward as finding one for a ready-made home. It may look different, as banks may offer you a construction loan which will loan you the money to have the house built, and then you can convert it into a traditional mortgage (a maybe a lower interest rate). Or sometimes your builder may have options A realtor likely knows or knows a mortgage broker who knows the best way to get you a loan to make your dream happen.

You need to ensure that your mortgage price is within your budget. Otherwise, you could be left disappointed and without somewhere to live once it has been built and you have no money left. Finding a mortgage in your price range is easy and just takes some up front research into mortgage options.

Set a budget

Speaking of a budget, it is important to have one in mind before the project begins. A budget will help you determine what you can really afford. There is no point in trying to build something outside of your budget, as you will get halfway through the project and need to stop. 

Likewise, ensure that any extra fees can be covered within your budget. Thus, try to spend and aim for under your budget in case anything goes wrong and when building a house, more often than not something probably will go wrong!

Plan with an architect

Building any property is pretty much impossible without an architect. They will make a plan of dimensions, shapes, and angles, which will make the home as safe as possible. They will then work with the contractors to show them what will go where and how it should be built. Even if you’ve got lots of good ideas and your own plans, an architect will be able to do the nitty gritty work of making sure all the plans are safe, up to code and feasible!

With these tips in place, you can get started with your house building project. Although it can be expensive, paying for expert help will help your home be built efficiently and the project go as smoothly as possible. Ensure to set a budget and have a realistic plan before the build goes ahead so that you can achieve your goal and not be disappointed. 

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