Location, location, location!
It’s all about where you are going to start your new home construction that usually initiates the consideration of it. Whether it’s because of a job move, a financial necessity to relocate, or personal reasons, the discussion of a new home construction typically is because of a need. When making the decision to move to a new location, research on the area is important – especially if you have specific expectations. Crime and safety, school ratings, hospital and shopping proximities, drinking water and air quality, daily traffic, weather, job market, quiet town vs city lifestyle, and the list goes on.
Budget in real-time
Once you have a firm grasp on where you want to move, then the next logical question is “how much can we spend?” It is important to keep things in perspective when investing in such a huge financial commitment. Look at your assets, your debts, and even sit down with a financial advisor to get real perspective before you go overboard and outspend yourself.
If money is no object and debt is nonexistent, then you may just skip this step and move on to the privilege of possibly getting all that you want in design and space!
Square footage and acreage (if applicable)
How much space do you want or need? You may be able to afford more, but maybe less is better for you. If you have a large family or plan to stay single, you will probably be interested in completely different space usage.
Decisions on designing your space
After you decide how much space is sufficient for your new home build, then you will likely be in the market to make design decisions or pick from a template design depending on your preference. You may have very specific layouts in mind or architecture styles that appeal to you. Again, keeping track of your budget will help keep you from veering too far into dreamland.
A pool, two-car garage, guesthouse, porch, deck, or maybe even a greenhouse – these lovely amenities may be of interest to you when you are in the market to build from the ground up.
Find the right contractor
Of course, finding the right partners for a home building project is important – from the contractor to the design and finance teams. Do your research, look for referrals, and always check a variety of review sources.
New build legalities and questions
You may want to talk with a lawyer or do some diligent research on laws involving new home building. You would be shocked to find out how many issues arise due to legality breaches during the construction process. Avoid this stressor by educating yourself and asking questions if you do not completely have the answer you’re looking for.