Chances are that you’ve been having visions of your dream house ever since you were a kid. That vision may have evolved through the years. Now that it could finally become a reality, you need to ground your vision on something more substantial than mere fantasy. This time you need to work with a plan and with professionals such as a contractor, builder and architect.
As with all projects, start with your budget. Determine how much can you afford. Decide how much can you spare from your savings. Do your research on how much you can get through a housing loan. Knowing your budgetary limitations will set the parameters of your building plans.
If your plans are dependent on a loan, make sure that you can qualify for one before making any commitment. There’s nothing worse than having already spent so much on preparations only to have everything suspended because the loan is not feasible after all.
Once the budget has been firmly established, decide on your location. Keep in mind that you need to apportion your budget between the cost of the lot and your building cost. Check whether the lot you choose will entail more expense in building like, for example, a hillside location. Adjust your wants to your actual budgetary capabilities.
You will need a team to construct your dream house, including a builder and an architect, among many other professionals. The entire project can be very complex and unwieldy so it is to your advantage to hire a reliable contractor who can take care of everything for you. This means that you only have to pay one entity and the contractor subcontracts all other necessary services for the project. It would be better if your contractor is also a builder. You save money this way and you can also be sure of work of a higher quality.
Make sure that the contractor you choose is experienced in residential projects and is not a commercial contractor whose experience revolves around business establishments. Remember that although a commercial contractor may come highly recommended by its clients, the demands of commercial construction are far different from those of residential construction. If you find a contractor who is experienced both as a commercial contractor and a residential contractor, you would be better off. The range of experience will serve your project well.
With the cost of the lot factored in, choose your building plan. Once again, your vision will have to coincide with your budget. Perhaps you will have to start with a rough estimate of the size of the house you need and then you and your contractor can make building cost estimates. This is the time to look over several house plans from a catalog. You can point out your preferences and make modifications with your team to suit your budget. Make sure that you and your contractor, architect and builder all have full understanding on the final house plan you choose.
Finally, draw up a contract with your contractor. It should contain the contractor’s full details and license number, a detailed description of everything that will be done including specifications of materials to be used, all costs and fees, starting and completion dates of the project, schedule of payment, warranties, method of cleanup of construction debris and materials, and options for unexpected problems that may arise.
If you and the contractor decide on any changes in the project while construction is going on, do not forget to amend your contract. Remember, this is your protection to ensure that you get what you pay for and that you are satisfied with your dream house.