Ask yourself these questions to see if you are ready
For most people, building a home is something they only go through one or two times in their entire lifetime. And as such, it can be difficult to ascertain what exactly you need to do to prepare for such an endeavor. Sure, you can get pre-qualified or search through floor plans, but what else should you be thinking about before you decide to build your dream home?
Here are some good questions to ask yourself to see if it is a good time to build a home for you and your family:
1. Do I have enough energy to build a house right now? Even with the most skilled builders and designers, building a home can feel a bit like an endurance test. It’s full of fun things like picking out light fixtures and paint colors, but you also are adding a major project into your regular life. Homebuilding has to fit in with the rest of what your life has in it. Think through your free time and other responsibilities, and make sure you have the energy left over to use on building the home of your dreams.
Remember: You will need an extra amount of energy when you are building your home, but with our dedication to utilizing efficiencies, this extra energy will only be needed until you move in. And then, you’ll have your new house and you can relax.
2. Do you have the time to build a home? Building a custom home that fits your needs and style is going to take more time than if you just bought a home. With the typical build lasting about six months, you’ll have to be sure that timeline matches up with your needs. If the timeline to build a house matches in your life, then make sure you have the time in your daily and weekly calendar for it. While the vast majority of the work and stress is carried by the homebuilder, you will need to make time for periodic meetings, time to make selections on materials and products desired, and set aside time to watch the building process take shape through the different stages of home development.
Remember: We make the process fun, but any project this big is going to take some time – and take some of your time – to complete.
3. Do you know your style and preferences when it comes to your new home? While customizing your home can be exhilarating, it can also give you paralysis when it comes time to make a decision. Take time to find your style, desires and wants so that selection of materials are decided upon easily – and so you get what you want. One of the best things about building your own home is that you get to pick out every single faucet, doorknob and drawer pull. Be sure you know the types of things you like – and more importantly, don’t like – before you need to select choices. This will help you not to be overwhelmed throughout the homebuilding process.
Remember: Take time and think seriously about the kinds of things you want in your home. And have fun with it! This is what Pinterest was made for – pin away, and we’ll take your dreams and turn them into reality!
4. Are you a patient person? When building a home, you’ve got to have a dose of patience. Homebuilding is a process that sometimes is fast and furious, and sometimes it slows down to what feels like a snail’s pace. While we pride ourselves on maximizing efficiencies, some delays that are beyond anyone’s control will happen. For example, it can rain for a week, and we can’t pour a foundation. Or we will have to wait on a city inspection before we can move forward. Having patience with the process is helpful to manage your own stress level. Of course, we have to tell ourselves this too – we get anxious to see the progress on these homes as much as the homeowner.
Remember: When you build a home, no matter how well it goes, things won’t go completely as planned or when it was planned. Patience is a virtue, and that is no less true when building a home.
5. Are you prepared financially to build a home? Financially, prepare yourself as best you can for the process of home building. For the vast majority of people, their home is their largest investment, and it is also their largest expense. Before moving forward with a builder, sit down with your financial planner or chosen financial institution to talk through your options. Just like buying a home that is already built, if you walk in knowing how much you can spend on building a house, you’ll be much farther along in understanding what kind of home you can build. In addition, home building often comes with additional loans like construction loans that traditional home purchases do not. Your financial advisor can walk you through all of this.
Remember: Talk with your financial institution to see what options are best for you. The more you know on the front end, the more prepared you will be when it comes time to start building the house.