Saving up for a long time to build yourself a new home is pretty exciting. But all of your excitement and savings go to waste if you are not careful with your decisions and choices. Building a new home is not an easy task as it just might be the largest project you will find yourself sending a lot of money on. If you are completely unaware of where to start and who to contact, you need to be extra careful. You do not want to end up spending an excessive amount of money on stuff that can be done in less.
Here are the most common 10 mistakes people make when they decide to build a new home for the first time:
- Rushing Important Decisions
The consequences of the decisions you make when building a new home are something that you will have to carry with you for a long time as this new home just might be your future investment. It is easy to understand that contemplating which steps to take for a long time can get you frustrated, however, it is very important to not make rushed decisions as you will have to deal with them later if you make the wrong choices in a haste.
- Impractical Construction Period
It is wrong to calculate a time period for the construction of your new home on your own. You never know what problems might occur in between the whole construction that can also end up delaying the process. It is good to ask your builder about the complete construction period before it starts as it is known for your builder to have other building projects at the same time. He would know better how much time would your project take.
- Floor Plan: Dimensions & Designs
Space planning is everything when you build a new home. And this is exactly where the comparison between the dimensions and designs goes awfully wrong. The measurements for all the rooms must be measured very carefully. Decide on a suitable floor plan before the construction officially starts. You do not want the dimensions and designs completely going in an off-sync.
- Amenity Preferences
List down your amenity preferences before the building of your new home. How many closets do you want and how many cabinets in the kitchen. Whether you want to use an oven or you prefer a separate room for laundry. Look for the amenities that you can truly use instead of getting things in your new home that can barely be of any use.
- Location Research
If you already are the owner of the land then the building process would be pretty simple as there will be no other options. However, if you are looking for the land first, make sure to do your proper research on the location as it also determines the resale value of your home too.
- Spending Beyond Budget
It is true that costly things such as furniture and fittings can become ten times more attractive when you get a chance to buy them, however, spending beyond your budget is a complete mistake because it can highly affect your future finance plan.
- Protection Clauses
Before you sign a contract with your builder, pay extra attention to the interest protection clauses in case you are buying the land first. Do not believe that the contract can be extended later on. The only way to protect your interests is to add your terms to a proper contract before sealing the deal.
- Prices & Values
When you go to visit the display homes to choose a building plan and design for your home, make sure you ask for the correct prices of everything from ceiling to floor. It is possible for most of the stuff on display to be cheap. You can also find that half of the things are not included in the total price of the total display.
- Revealing Your Emotions
If you find a deal that is too good to be true and you are already in love with it, immediately hide your interests. If the agent sees your interest in a particular deal is very strong, he is likely to cost more for it as your desperation can be seen. Do not emotionally get attached to a deal or home design as it can beat you up in the long run; emotionally as well as financially.
- Structural Changes during Construction Phase
This is where not only your financial costs are affected but also the time of building is highly affected. When you select a structured plan of your house, your builder might know a few houses that were built on the same plan. It will help you get an idea of what your home will look like once it is constructed. Avoid making changes during the construction plan.
Be careful of these common mistakes people make when you decide to build a new home if you do not want to feel at a loss despite spending a lot.