Things to consider before constructing your Villa.

The construction of a new house begins long before the foundation is laid. The construction process is most efficient and interesting if a decent plan is developed and an honest, skilled builder is found. Begin with these five critical measures to avoid costly blunders during the building process. As you transition from fantasy to reality, be sure to ask questions and discuss your progress with others who have been through the process.

Plan Your Budget

Begin thinking about your budget from the minute you decide to build a house. Create a realistic estimate of how much you can afford to spend and the cost of building a new house. Budgeting is all about matching your desires with a realistic evaluation of what you can afford.

You will almost certainly require a construction loan as well as a mortgage. It’s never too early to find out how much money you may borrow based on your salary and other financial responsibilities. Most banks and other financial organizations are ready to prequalify you for a construction loan, which will give you an indication of how much money you may spend. Simultaneously, this early stage entails determining the costs of many parts of your new house, such as the land itself, the architect or designer, the general contractor who will handle the project, the building materials, and appliances and interior amenities.

This is a complex, time-consuming procedure that should start several months before building begins. It’s not uncommon to spend up to two years researching the concerns before signing a building contract with a constructor.

Budgeting Suggestions

• Be wary of institutions that want to lend you more money than you can afford—this was a contributing factor to the 2008 financial crisis. There is no need to build a house that exceeds the maximum loan amount approved by the bank. In fact, staying considerably under that amount is a really smart idea. Speaking with an impartial financial counselor is a wonderful method to figure out how much you can safely spend on a property.
• Budget for cost overruns. Almost every construction project ends up costing more than anticipated. This frequently happens when the costs of building materials vary or when you request adjustments throughout the design and construction phases. Make sure to include a cushion in your budget to account for the inevitable overruns.
• Obtain at least three quotations from contractors (and check references). In most situations, the majority of the cost of building a home is the money you’ll pay to a general contractor (GC), who will oversee all of the employees and subcontractors that work on your home’s construction. There is a fine line between choosing an economical contractor and one that performs great work using high-grade materials. Begin by gathering references from people you know who were pleased with their builder, and then carefully interview at least three of them. This approach will give you a decent sense of how much it will cost to build your home.

• Materials should be compared. While the general contractor usually chooses the majority of the building materials, appliances, and amenities, you should be involved in this process. If you have a strong taste for granite countertops, for example, make a note of it now so that your preferences may be expressed to the builder you finally select.

Unexpected Costs of Building a New Home

When first-time homeowners become aware of the hidden costs of house ownership, they are typically taken aback. Furniture, lawn and garden equipment, window decorations, and Internet and media wiring are all one-time charges when creating your first house. Furthermore, house ownership has continuous monthly expenditures that might catch you off guard if you aren’t prepared for them, such as homeowner’s insurance, property taxes, and lawn-care services. If you’ve been a renter in the past, these costs may come as a surprise.

Select Your Lot

If you have not yet acquired a construction lot for your new house, speak with realtors to get an idea of land pricing in the locations you are interested in. Land prices vary tremendously based on where you live.

Whether you are building in a suburban subdivision or on a site with panoramic ocean vistas, you will almost always need to pick the property before you choose floor plans or other specifics. You (and any professionals you engage) will need to research things like soil quality, drainage, zoning, and construction codes in the area. If your house design has be modified to fit the lot, the costs will be greater. It would benefit your budget if the house can be built on the property utilizing standard drawings.

Choose a Design Layout

Many new homes are constructed from stock blueprints obtained from a printed catalog or an internet source. It might take some time to find the proper plan. One place to start may be deciding on your preferred house style. Get ideas from the numerous available catalogs, and if required, have a builder or another construction professional—an architect or designer—assist you in selecting the finest stock plan for your needs. A house designer can also make modest changes to stock designs, such as room size, window styles, or other features. Some builders can make minor changes to standard house blueprints.

A custom-designed home, on the other hand, is developed expressly for the family who will live there as well as the location on which it will be built. Most custom-designed homes need the expertise of a certified architect. They inquire, “Where is the sun in regard to the lot? How can we save money on long-term heating and cooling costs?” The architect should also ask exhaustive questions about your lifestyle and preferences.

Whether you choose a standard or bespoke design, you should select a plan that will fulfill your needs for many years to come. A youthful couple, for example, may wish to plan for additional family members, but an elderly homeowner might consider aging-in-place needs.

Prepare Your Team

Once you’ve decided on a working budget, a building location, and a home design, you can start gathering a team of specialists who will design and build your home. A builder, an excavator, a surveyor, and, if necessary, a house designer or architect are all key actors. Most homebuyers begin by picking a builder (general contractor). That pro then chooses the rest of the team. You should, however, consult with an architect or designer beforehand.

The important question is how involved you will (or can) be in the process. While most homeowners engage a general contractor/builder to manage most or all of the work, a homeowner who wishes to be heavily involved in the process can function as his or her own GC. In this situation, you will hire and supervise all subcontractors (excavators, carpenters, concrete contractors, and so forth). Working this manner is not for the faint of heart, but for the appropriate individual, it may be a satisfying and cost-effective approach to construct a house.

What About Non-Traditional Building?

What your house looks like does not always determine how it is built. The traditional frame building method is not the only one available. Many individuals are interested in straw-bale houses, rammed earth structures, and even cob buildings. However, conventional builders—or even all architects—cannot be expected to be specialists in everything. Building typical residences in an unconventional way necessitates the involvement of a team that specializes in that style of building. Do your research and choose the ideal architect and builder to bring your vision to life.

Contract Negotiation

Obtain formal, signed contracts from each building expert engaged in the construction of your home. At the absolute least, this entails a contract with the general contractor/builder and, if applicable, the house designer or architect.

What is included in a construction contract? A contract for new home building will explain the project and contain a list of all the elements that will be included in the house (the “specs”). Without clear requirements, your home will most likely be built with “builder’s grade” materials, which are often less expensive. Make careful to negotiate the specifications before writing the contract, and then make sure everything is properly mentioned. Remember to revise the contract if you or your contractor make modifications to the project later on.

Conclusions

The time spent completing the preparatory stages to building a new home can be exciting, but it is also a time to consider whether new construction is the best option. The procedure is time-consuming and disruptive to your life and the lives of those around you. You may discover that shopping for an existing home—either a pre-existing home or a freshly constructed home built “on-spec”—is less stressful. Alternatively, you may discover that staying in your current house and upgrading it is a better alternative.

Building your own home is occasionally undertaken for the wrong reasons. Building a new house almost never “fixes” a bad life or relationship. Analyzing your motivations is a vital first step. Do you want to build a house because someone else wants you to? Is it a distraction from another crisis in your life? Can you deal with the extra stress in your life? Why do you wish to construct a house? Self-reflection can help you gain self-awareness and avoid numerous headaches.

However, if your self-evaluation passes these standards, then carefully following five important preparatory procedures will ensure that your project results in the house that you and your family deserve.

At RBIC Home our specialists will guide you from the beginning of your construction till the day you move in.