So, youβve decided to build your dream home. While many people choose to buy or rent their homes and decorate them as they please, building your home will allow you to design it to your liking. However, even building an extension is a big deal, and building an entire house is even more so.
The upside is that you donβt need to know much about construction to self-build your new home. Most of the skilled work will be done by experts, youβre just guiding the way and letting them know what you want. Still, there is a lot to bear in mind before you start building.
Financing the Build
Generally speaking, when you build your home, youβre likely to get more value out of your home than buying one for the same cost. However, this doesnβt mean that itβs cheaper than buying. Self-building requires time, money, and effort that isnβt possible for most first-time buyers to acquire.Β
The average cost to build a house in America is about $250,000, although this varies depending on your location, home size, and the type of design you go for. The important thing is to work out how much you can afford to spend on your home.
Youβll need money for the building plot, materials, professional services, and other costs that are involved with the build. You can finance the build with cash, through equity in your existing home, or a self-build mortgage.
Finding a plot
You canβt build a house without owning land. You need to find an appropriate building plot and, rather than buying the first one that comes along, research it thoroughly. Here are some questions that you need to answer:
- Does the plot include planning permission to allow you to build on it?
- Can you easily access the plot?
- Are there any covenants or restrictions?
- Are there any services or utilities in place or nearby?
- Are the title deeds absolute or possessory?
You should also visit the plot yourself and, if possible, hire a land surveyor to assess it for potential issues.
The planning phase
Unfortunately, you canβt immediately build a house on a plot of land without some painful paperwork. Before you build, you will need to take ecological surveys, as well as other surveys to prove the land is safe.Β
You also need to plan and design your home, ideally with the help of an architect and other professionals. This plan will likely need to be submitted to the local authorities. From here, it can take weeks or months before you hear back, but be patient.
The build itself
Once the planning has been completed, submitted, and approved, you can finally get started on the build itself. While some brave people have tackled the home build themselves, itβs recommended that you hire specialized builders to get it done for you.Β
Hiring a team of builders can end up being quicker and cheaper than trying to build things yourself, as the job gets done more safely and without expensive setbacks.
Thank you for reading. I hope this post has helped you feel inspired to build your dream home.
Stay wonderful!
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