Everybody wants to build and have their own dream homes. Building a new home is probably the best, if not the grandest, the investment you will ever make and the most exciting experience you will get out of your life.
The home you are going to build has to be a perfect match to the lot you have elected to have your property erected. Minor setbacks can seep in during the house building process but these are easily overcome most especially if you know a few pointers in building a new house in 2021.
If you are into house and lot hunting then you need more than The Ghostbusters™ to assist in siphoning out phantom deals and ghost contracts to steer you away from problematic circumstances (i.e., poor architectural design, erroneous declaration of lot size, bogus contractors, etc.)
This only shows that there are a number of things to consider when building a new home.
To help ensure you get your dream home, we listed the following 7 points that you must consider before you start committing to a home builder.
• 1. Check Your Financial Situation
Considered the most important point in your home build, checking your financial status keeps you updated on your available funds. If your savings is not enough to support your home build project then we suggest hiring a mortgage agency that will work on your behalf regarding the funding needed.
You can likewise visit a private lender or a trusted credit union for assistance and apply for a mortgage loan to help increase your limited budget.
Remember that you are looking for means to secure loans for building a new home; hence, you have to ascertain that your funds are up to the task of supporting your new build.
• 2. Check Your Chosen Location
When building a new home, it is important to see that you are absolutely satisfied with the location of your future house and lot. The place you live in will have an impact both on your family and on the house that you plan to build.
Consider this is as your starting point in building your family’s future, raising your children, meeting friendly people, and getting a job that is near your residence.
For example, you will not choose a rowdy neighborhood with a small plot of land to erect an elegant-looking house (unless you like to be burglarized every day) or settle to purchase a pre-owned lot that is located “off the map” (i.e. the nearest convenience store is one town away)
Location matters very much also in the pricing of your home build. Make sure that your location is (a) nearby hospitals, schools, supermarkets, etc., (b) within your target region (i.e. Toronto or Vancouver), (c) amenable to your choice of house size and design, and (d) meets your budget requirements.
• 3. House Design and Size
Now that you have the necessary budget and you already have chosen the best location for your house build, the next point to prioritize is the design of your home (i.e. how it appears aesthetically) and the size of your home (i.e. mansion type, country house type, etc.).
An architect is what you need to give you his/her ideas on how your house will look like and how big or small it will be.
• 4. Choose a Reliable Home Builder
Finding a home builder is not easy. With so many fraudsters and scammers nowadays– both online and non-online – you can be easily overwhelmed by their deceptive marketing strategies
Be aware of these people to avoid losing your hard-earned money. Never give in to these fraudsters who will not stop at anything to get their hands on your loan to fix the house and make it appear that you saved money in the process. Nothing can be further than the truth, sadly.
Spend some time doing your research, checking the home builders’ past work experiences and recommendations, vouching for the agency that they are connected with, and knowing their companies’ history for proper guidance.
Don’t be afraid to ask questions. Keep on inquiring until you feel most certain with them before you commit to signing the contract and allow them to start building your dream house.
• 5. Choose the Right Materials
Getting the right materials for your new home will provide you with a housing unit that will last for years. For example, if you are planning to build a fireproof house then you will stay away from wood, paper, and alcohol-based paint. Instead, you will opt for stone, cement, or masonry-type materials for effective fireproofing.
Ask your architect or professional home builder to help you choose the right materials you will need to build your new home.
• 6. Exercise Open Line Communication
Communicate with your home builder or contractors on a regular basis. Paying regular visits to your home build site and getting feedback from your contractors is an important aspect of your home building project.
This will avoid misunderstanding from both parties and loosen unnecessary tensions between you and your home builder professional.
• 7. Determine Your Over-All Costs
Before your home builder starts to work on your home, make sure that your quote is in order: all costs are properly accounted for so that you will not fall off from your budget. The worst thing that can happen is to incur unexpected expenses that are not included in your budget.
We highly recommend signing up with an experienced construction loan broker or with a professional building contractor that will present you with staggered payments as one of your available payment options.
As a future homeowner, you need to make sure that the process will run smoothly and everything will proceed as planned. Understand what you are getting into and remember that your home will be the perfect place to bond with your family, relatives, and close friends.
The more knowledgeable and prepared you are, the more exciting your home build project will be. You have to plan every step of the way in order to turn your dream house into reality.
Always prepare for unnecessary costs and occasional bumps in your house build; however, feel assured that your house build is worth your wait. Simply follow our 7 pointers and be enthralled to live in your brand new home soon!
We are your dedicated financial company that helped 96 clients materialize their dream homes in Canada. Our vision is to help families build, develop, and/or improve their homes for them to live conveniently and comfortably.
Call us at 416-825-0142 or send an email to email@example.com to learn more.