With all the excitement of your dream home, it’s important to have a well-thought-out plan that ensures every step is being carried out accurately. By considering how to avoid common mistakes and misconceptions, the entire process is less daunting. This article covers what to keep in mind when building a home.
1. Not Doing Your Research
A builder’s reputation will speak volumes on the amount of effort and quality of work they will provide. Through researching a bunch of different builders and speaking with people you trust, you’ll be able to have a fair assessment before making any commitments. This article provides information on how to choose the correct builder for your project.
2. Not Thinking Beyond The Model Home
For many, it pays off to be aware of which particular fixtures are part of the standard inclusions and which ones are extra upgrades. Therefore, what can be advertised as a ‘budget home’ to begin with may turn out to be quite expensive.
3. Not Reading The Fine Print
It is vital to go through all the terms and conditions of the contract before signing away. By breaking down all the paperwork, you won’t feel too overwhelmed and can set clear expectations.
4. Not Knowing The Right Price
When examining multiple quotes, you need to be ready to extend your budget beyond the base price of the home. According to which particular design you’re after, the total cost will also increase to accommodate for the upgrades that will be included.
5. Not Verifying Before Committing
The upgrade prices will vary between builders which is why it is essential to have a firm understanding and solid estimates from your sales agent. Don’t shy away from inquiring more about the building design and floorplan to get a clearer idea. To avoid hidden surprises when building a home, confirm set prices with both the builder and agent from the very start.
6. Not Remembering The Interest Involved
Within the home buying process, the monthly amount you’ll be required to pay can change as the interest rates are constantly fluctuating. You can prepare by asking your lender to provide a few estimates that take into account different interest rates.
7. Not Expecting Errors To Happen
Although it is great to aim for perfection when building a home, you should expect a few mishaps to occur during the construction period. Through visiting the home on a regular basis, you’ll be able to quickly spot what needs to be fixed or changed before it’s too late.
8. Not Having a Backup Plan
It can be quite a hassle when relying on the earnings from your current home to finance the new home. The task can become even trickier if it hasn’t been sold before the new place is finished. By thinking ahead, you’ll be able to quickly decide how to keep up with the payments.
9. Not Checking For Incentives
It doesn’t hurt to consistently double-check for any discounts that your agent may be able to offer. There may be ongoing promotions or preferred lender incentives that you may not be aware of. The incentive or credit offered by the builder can go a long way when it comes to saving up some funds.
10. Not Being Patient
Building a home is a huge investment which is why rushing the process and decision-making can leave you disappointed with the outcome. Before finalising everything, take the time to fully review the building and also the design plans.
If you have any questions about the home building process, including finding the correct house plan, builder or developer, then don’t hesitate to call us on 1800 184 284 or book a call online at a time that suits you.
- We’ll ask the right questions to better understand your needs
- We’ll create a recommended shortlist ideally matched to you
- We’ll answer specific questions or concerns related to home building, land purchasing or financing